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NetEase Announces Fourth Quarter and Fiscal Year 2024 Unaudited Financial Results

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HANGZHOU, China, Feb. 20, 2025 /PRNewswire/ — NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, “NetEase” or the “Company”), a leading internet and game services provider, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2024.

Fourth Quarter 2024 Financial Highlights

Net revenues were RMB26.7 billion (US$3.7 billion), a decrease of 1.4% compared with the same quarter of 2023.Games and related value-added services net revenues were RMB21.2 billion (US$2.9 billion), an increase of 1.5% compared with the same quarter of 2023.Youdao net revenues were RMB1.3 billion (US$183.6 million), a decrease of 9.5% compared with the same quarter of 2023.NetEase Cloud Music net revenues were RMB1.9 billion (US$257.6 million), a decrease of 5.3% compared with the same quarter of 2023.Innovative businesses and others net revenues were RMB2.3 billion (US$313.1 million), a decrease of 17.0% compared with the same quarter of 2023.Gross profit was RMB16.3 billion (US$2.2 billion), a decrease of 3.3% compared with the same quarter of 2023.Total operating expenses were RMB8.5 billion (US$1.2 billion), a decrease of 15.1% compared with the same quarter of 2023.Net income attributable to the Company’s shareholders was RMB8.8 billion (US$1.2 billion). Non-GAAP net income attributable to the Company’s shareholders was RMB9.7 billion (US$1.3 billion).[1]Basic net income per share was US$0.38 (US$1.89 per ADS). Non-GAAP basic net income per share was US$0.42 (US$2.09 per ADS).[1]

[1] As used in this announcement, non-GAAP net income attributable to the Company’s shareholders and non-GAAP basic and diluted net income per share and per ADS are defined to exclude share-based compensation expenses. See the unaudited reconciliation of GAAP and non-GAAP results at the end of this announcement.

Fourth Quarter 2024 and Early 2025 Operational Highlights

Introduced more new blockbuster games around the globe, reinforcing NetEase’s leadership across diverse genres and growing global momentum.Marvel Rivals topped Steam’s global top sellers chart shortly after its launch on December 6, amassing over 10 million registered users within 72 hours and over 40 million to date. Its Season 1 update in January 2025 sparked another surge, claiming the No. 1 spots on Steam’s top sellers and most-played charts worldwide.Where Winds Meet surpassed 3 million downloads in China within four days of its PC launch and topped the iOS download chart for approximately two weeks following its mobile launch. A successful release of the game’s mobile version drove total players across PC and mobile to over 15 million within two weeks.Justice mobile game topped the iOS download charts in Hong Kong, Macau and Taiwan and reached No. 1 position on the iOS top grossing chart in Taiwan in January 2025.Blizzard titles World of Warcraft and Hearthstone continued to generate strong enthusiasm from the Chinese gaming community, while the return of Overwatch 2 on February 19, 2025 further fueled players’ passion.Established titles maintained their popularity, such as Westward Journey Online 2, Fantasy Westward Journey Online and mobile game, Infinite Borders, Onmyoji, Identity V, Naraka: Bladepoint and Justice franchise, demonstrating NetEase’s prowess in long-term game operations.New game lineup for global markets, including Fragpunk, Destiny: Rising and MARVEL Mystic Mayhem, positioned to further diversify game portfolio.Youdao continued to focus on technology-driven innovation and profitability enhancement, achieving a 10.3% year-over-year increase in operating profit during the fourth quarter and recording first-ever annual operating profit in 2024.NetEase Cloud Music continued to drive quality development across its music-centric ecosystem, remaining committed to nurturing its unique community and enriching its distinctive content offering. It also further improved music-oriented monetization supported by enlarging subscription-based memberships.

“We boldly pushed the boundaries of innovation once again in 2024, delivering groundbreaking gaming experiences that captivated players worldwide,” said Mr. William Ding, Chief Executive Officer and Director of NetEase. “Our new hit titles not only redefined gameplay but also set new industry benchmarks, while our legacy franchises gained fresh momentum through striking enhancements in design, storytelling and immersive content. As our diverse game portfolio expands across more genres and engages an ever-growing global audience, we remain dedicated to fostering creativity and collaborating with top talent and strategic partners to shape the next wave of gaming trends.

“Beyond gaming, Youdao and NetEase Cloud Music maintained healthy development in 2024, led by our focus on meticulously crafted content and exceptional user experiences. Our enduring pursuit of innovation, global expansion and game diversification is fueling lasting value creation across the industries we serve and for our partners and shareholders alike,” Mr. Ding concluded.

Fourth Quarter 2024 Financial Results

Net Revenues

Net revenues for the fourth quarter of 2024 were RMB26.7 billion (US$3.7 billion), compared with RMB26.2 billion and RMB27.1 billion for the preceding quarter and the same quarter of 2023, respectively.

Net revenues from games and related value-added services were RMB21.2 billion (US$2.9 billion) for the fourth quarter of 2024, compared with RMB20.9 billion each for the preceding quarter and the same quarter of 2023. Net revenues from the operation of online games accounted for approximately 96.7% of the segment’s net revenues for the fourth quarter of 2024, compared with 96.8% and 93.4% for the preceding quarter and the same quarter of 2023, respectively. Net revenues from mobile games accounted for approximately 65.3% of net revenues from the operation of online games for the fourth quarter of 2024, compared with 70.8% and 76.7% for the preceding quarter and the same quarter of 2023, respectively. The change in revenue mix was mainly due to the increased net revenues from PC games, including certain licensed titles. 

Net revenues from Youdao were RMB1.3 billion (US$183.6 million) for the fourth quarter of 2024, compared with RMB1.6 billion and RMB1.5 billion for the preceding quarter and the same quarter of 2023, respectively. 

Net revenues from NetEase Cloud Music were RMB1.9 billion (US$257.6 million) for the fourth quarter of 2024, compared with RMB2.0 billion each for the preceding quarter and the same quarter of 2023. 

Net revenues from innovative businesses and others were RMB2.3 billion (US$313.1 million) for the fourth quarter of 2024, compared with RMB1.8 billion and RMB2.8 billion for the preceding quarter and the same quarter of 2023, respectively.

Gross Profit

Gross profit for the fourth quarter of 2024 was RMB16.3 billion (US$2.2 billion), compared with RMB16.5 billion and RMB16.8 billion for the preceding quarter and the same quarter of 2023, respectively.

The quarter-over-quarter and year-over-year decreases in games and related value-added services’ gross profit were primarily due to decreased net revenues from certain mobile games, partially offset by increased net revenues from PC games, including certain licensed titles.

The quarter-over-quarter and year-over-year decreases in Youdao’s gross profit were primarily due to decreased net revenues from its learning services.

The quarter-over-quarter decrease in NetEase Cloud Music’s gross profit was primarily due to decreased net revenues from social entertainment services.

The quarter-over-quarter increase in innovative businesses and others’ gross profit was primarily due to increased gross profit from Yanxuan and advertising services. The year-over-year decrease was primarily due to decreased gross profit from several businesses within the segment including advertising services.

Gross Profit Margin

Gross profit margin for games and related value-added services for the fourth quarter of 2024 was 66.7%, compared with 68.8% and 69.5% for the preceding quarter and the same quarter of 2023, respectively. The quarter-over-quarter and year-over-year decreases were mainly attributable to higher revenue contribution from licensed games which have comparatively lower gross profit margins.

Gross profit margin for Youdao for the fourth quarter of 2024 was 47.8%, compared with 50.2% and 49.9% for the preceding quarter and the same quarter of 2023, respectively. The quarter-over-quarter and year-over-year decreases were mainly due to decreased revenue contribution from its learning services.

Gross profit margin for NetEase Cloud Music for the fourth quarter of 2024 was 31.9%, compared with 32.8% and 30.3% for the preceding quarter and the same quarter of 2023, respectively. The year-over-year increase was mainly due to increased net revenues from sales of membership subscriptions and continued improvement in cost control measures. 

Gross profit margin for innovative businesses and others for the fourth quarter of 2024 was 37.8%, compared with 37.8% and 34.4% for the preceding quarter and the same quarter of 2023, respectively. The year-over-year increase was mainly due to increased gross profit margins from Yanxuan.

Operating Expenses

Total operating expenses for the fourth quarter of 2024 were RMB8.5 billion (US$1.2 billion), compared with RMB9.3 billion and RMB10.0 billion for the preceding quarter and the same quarter of 2023, respectively. The quarter-over-quarter and year-over-year decreases were mainly due to decreased marketing expenditures related to games and related value-added services.

Other Income/(Expenses)

Other income/(expenses) consisted of investment (losses)/income, interest income, exchange gains/(losses) and others. The quarter-over-quarter and year-over-year increases were mainly due to net exchange gains in the fourth quarter of 2024 compared with net exchange losses recorded in the preceding quarter and the same quarter of 2023.

Income Tax

The Company recorded a net income tax charge of RMB1.4 billion (US$189.7 million) for the fourth quarter of 2024, compared with RMB1.3 billion and RMB1.1 billion for the preceding quarter and the same quarter of 2023, respectively. The effective tax rate for the fourth quarter of 2024 was 13.4%, compared with 16.1% and 13.8% for the preceding quarter and the same quarter of 2023, respectively. The effective tax rate represents certain estimates by the Company as to the tax obligations and benefits applicable to it in each quarter.

Net Income and Non-GAAP Net Income

Net income attributable to the Company’s shareholders totaled RMB8.8 billion (US$1.2 billion) for the fourth quarter of 2024, compared with RMB6.5 billion and RMB6.6 billion for the preceding quarter and the same quarter of 2023, respectively.

Basic net income was US$0.38 per share (US$1.89 per ADS) for the fourth quarter of 2024, compared with US$0.28 per share (US$1.40 per ADS) each for the preceding quarter and the same quarter of 2023, respectively.

Non-GAAP net income attributable to the Company’s shareholders totaled RMB9.7 billion (US$1.3 billion) for the fourth quarter of 2024, compared with RMB7.5 billion and RMB7.4 billion for the preceding quarter and the same quarter of 2023, respectively.

Non-GAAP basic net income was US$0.42 per share (US$2.09 per ADS) for the fourth quarter of 2024, compared with US$0.32 per share (US$1.61 per ADS) and US$0.32 per share (US$1.57 per ADS) for the preceding quarter and the same quarter of 2023, respectively.  

Fiscal Year 2024 Financial Results

Net Revenues

Net revenues for fiscal year 2024 were RMB105.3 billion (US$14.4 billion), compared with RMB103.5 billion for fiscal year 2023.

Net revenues from games and related value-added services were RMB83.6 billion (US$11.5 billion) for fiscal year 2024, compared with RMB81.6 billion for fiscal year 2023. Net revenues from the operation of online games accounted for approximately 96.2% of the segment’s total net revenues for fiscal year 2024, compared with 92.9% for fiscal year 2023. Net revenues from mobile games accounted for approximately 72.7% of net revenues from the operation of online games for fiscal year 2024, compared with 75.2% for fiscal year 2023. The change in revenue mix was mainly due to higher net revenues generated by PC games such as Naraka: Bladepoint and licensed titles.

Net revenues from Youdao were RMB5.6 billion (US$770.7 million) for fiscal year 2024, compared with RMB5.4 billion for fiscal year 2023.

Net revenues from NetEase Cloud Music were RMB8.0 billion (US$1.1 billion) for fiscal year 2024, compared with RMB7.9 billion for fiscal year 2023.

Net revenues from innovative businesses and others were RMB8.1 billion (US$1.1 billion) for fiscal year 2024, compared with RMB8.6 billion for fiscal year 2023.

Gross Profit

Gross profit for fiscal year 2024 was RMB65.8 billion (US$9.0 billion), compared with RMB63.1 billion for fiscal year 2023.

The year-over-year increase in games and related value-added services’ gross profit was primarily due to increased net revenues from the operation of online games, such as Identity V and Naraka: Bladepoint PC and mobile games.

The slight year-over-year decrease in Youdao’s gross profit was mainly due to decreased revenue contribution from its learning services, which was partially offset by increased revenue contribution from its online marketing services.

The year-over-year increase in NetEase Cloud Music’s gross profit was primarily attributable to increased net revenues from sales of membership subscriptions and continued improvement in cost control measures.

The year-over-year increase in innovative businesses and others’ gross profit was primarily due to increased gross profits from Yanxuan and several other businesses included within the segment.

Operating Expenses

Total operating expenses for fiscal year 2024 were RMB36.2 billion (US$5.0 billion), compared with RMB35.4 billion for fiscal year 2023. The year-over-year increase was primarily due to higher research and development investments for games and related value-added services.

Other Income/(Expenses)

The year-over-year decrease was mainly due to higher impairment provisions related to certain investments, which was partially offset by higher interest income resulting from the Company’s increased net cash position.

Income Taxes

The Company recorded a net income tax charge of RMB5.5 billion (US$748.2 million) for fiscal year 2024, compared with RMB4.7 billion for fiscal year 2023. The effective tax rate was 15.3% for fiscal year 2024, compared with 13.8% for fiscal year 2023.

Net Income and Non-GAAP Net Income

Net income attributable to the Company’s shareholders for fiscal year 2024 totaled RMB29.7 billion (US$4.1 billion), compared with RMB29.4 billion for fiscal year 2023.

Basic net income was US$1.27 per share (US$6.36 per ADS) for fiscal year 2024, compared with US$1.25 per share (US$6.26 per ADS) for fiscal year 2023.

Non-GAAP net income attributable to the Company’s shareholders for fiscal year 2024 totaled RMB33.5 billion (US$4.6 billion), compared with RMB32.6 billion for fiscal year 2023.

Non-GAAP basic net income was US$1.43 per share (US$7.17 per ADS) for fiscal year 2024, compared with US$1.39 per share (US$6.94 per ADS) for fiscal year 2023.

Other Financial Information

As of December 31, 2024, the Company’s net cash (total cash and cash equivalents, current and non-current time deposits and restricted cash, as well as short-term investments balance, minus short-term and long-term loans) totaled RMB131.5 billion (US$18.0 billion), compared with RMB110.9 billion as of December 31, 2023. Net cash provided by operating activities was RMB39.7 billion (US$5.4 billion) for fiscal year 2024, compared with RMB35.3 billion for fiscal year 2023.

Quarterly Dividend

The board of directors approved a dividend of US$0.24405 per share (US$1.22025 per ADS) for the fourth quarter of 2024 to holders of ordinary shares and holders of ADSs as of the close of business on March 6, 2025, Beijing/Hong Kong Time and New York Time, respectively, payable in U.S. dollars. For holders of ordinary shares, in order to qualify for the dividend, all valid documents for the transfer of shares accompanied by the relevant share certificates must be lodged for registration with the Company’s Hong Kong branch share registrar, Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen’s Road East, Wanchai, Hong Kong, no later than 4:30 p.m. on March 6, 2025 (Beijing/Hong Kong Time). The payment date is expected to be March 17, 2025, for holders of ordinary shares and on or around March 20, 2025, for holders of ADSs.

NetEase paid a dividend of US$0.0870 per share (US$0.4350 per ADS) for the third quarter of 2024 in December 2024.

Under the Company’s current dividend policy, the determination to make dividend distributions and the amount of such distribution in any particular quarter will be made at the discretion of its board of directors and will be based upon the Company’s operations and earnings, cash flow, financial condition and other relevant factors.

Share Repurchase Program

On November 17, 2022, the Company announced that its board of directors had approved a share repurchase program of up to US$5.0 billion of the Company’s ADSs and ordinary shares in open market transactions. This share repurchase program commenced on January 10, 2023 and will be in effect for a period not to exceed 36 months from such date. As of December 31, 2024, approximately 21.2 million ADSs had been repurchased under this program for a total cost of US$1.9 billion.

The extent to which NetEase repurchases its ADSs and its ordinary shares depends upon a variety of factors, including market conditions. These programs may be suspended or discontinued at any time.

** The United States dollar (US$) amounts disclosed in this announcement are presented solely for the convenience of the reader. The percentages stated are calculated based on RMB. 

Conference Call

NetEase’s management team will host a teleconference call with a simultaneous webcast at 7:00 a.m. New York Time on Thursday, February 20, 2025 (Beijing/Hong Kong Time: 8:00 p.m., Thursday, February 20, 2025). NetEase’s management will be on the call to discuss the quarterly results and answer questions.

Interested parties may participate in the conference call by dialing 1-914-202-3258 and providing conference ID: 10044895, 15 minutes prior to the initiation of the call. A replay of the call will be available by dialing 1-855-883-1031 and entering PIN: 10044895. The replay will be available through February 27, 2025.

This call will be webcast live and the replay will be available for 12 months. Both will be available on NetEase’s Investor Relations website at http://ir.netease.com/.

About NetEase, Inc.

NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, “NetEase”) is a leading internet and game services provider centered around premium content. With extensive offerings across its expanding gaming ecosystem, the Company develops and operates some of the most popular and longest running mobile and PC games available in China and globally.

Powered by one of the largest in-house game R&D teams focused on mobile, PC and console, NetEase creates superior gaming experiences, inspires players, and passionately delivers value for its thriving community worldwide. By infusing play with culture, and education with technology, NetEase transforms gaming into a meaningful vehicle to build a more entertaining and enlightened world.

Beyond games, NetEase service offerings include its majority-controlled subsidiaries Youdao (NYSE: DAO), an intelligent learning company with industry-leading technology, and NetEase Cloud Music (HKEX: 9899), a well-known online music platform featuring a vibrant content community, as well as Yanxuan, NetEase’s private label consumer lifestyle brand.

For more information, please visit: http://ir.netease.com/.

Forward Looking Statements

This announcement contains statements of a forward-looking nature. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar expressions. In addition, statements that are not historical facts, including statements about NetEase’s strategies and business plans, its expectations regarding the growth of its business and its revenue and the quotations from management in this announcement are or contain forward-looking statements. NetEase may also make forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in announcements made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks related to: the risk that the online games market will not continue to grow or that NetEase will not be able to maintain its position in that market in China or globally; risks associated with NetEase’s business and operating strategies and its ability to implement such strategies; NetEase’s ability to develop and manage its operations and business; competition for, among other things, capital, technology and skilled personnel; potential changes in regulation environment in the markets where NetEase operates; the risk that NetEase may not be able to continuously develop new and creative online services or that NetEase will not be able to set, or follow in a timely manner, trends in the market; risks related to evolving economic cycles and geopolitical events; risks related to the expansion of NetEase’s businesses and operations internationally; risks associated with cybersecurity threats or incidents; and fluctuations in foreign currency exchange rates that could adversely affect NetEase’s business and financial results. Further information regarding these and other risks is included in NetEase’s filings with the SEC and announcements on the website of the Hong Kong Stock Exchange. NetEase does not undertake any obligation to update this forward-looking information, except as required under applicable law.

Non-GAAP Financial Measures

NetEase considers and uses non-GAAP financial measures, such as non-GAAP net income attributable to the Company’s shareholders and non-GAAP basic and diluted net income per ADS and per share, as supplemental metrics in reviewing and assessing its operating performance and formulating its business plan. The presentation of 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 accounting principles generally accepted in the United States of America (“U.S. GAAP”).

NetEase defines non-GAAP net income attributable to the Company’s shareholders as net income attributable to the Company’s shareholders excluding share-based compensation expenses. Non-GAAP net income attributable to the Company’s shareholders enables NetEase’s management to assess its operating results without considering the impact of share-based compensation expenses. NetEase believes that this non-GAAP financial measure provides useful information to investors in understanding and evaluating the Company’s current operating performance and prospects in the same manner as management does, if they so choose. NetEase also believes that the use of this non-GAAP financial measure facilitates investors’ assessment of its operating performance.

Non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. Non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using non-GAAP net income attributable to the Company’s shareholders is that it does not reflect all items of expense/ income that affect our operations. Share-based compensation expenses have been and may continue to be incurred in NetEase’s business and are not reflected in the presentation of non-GAAP net income attributable to the Company’s shareholders. In addition, the non-GAAP financial measures NetEase uses may differ from the non-GAAP measures used by other companies, including peer companies, and therefore their comparability may be limited.

NetEase compensates for these limitations by reconciling non-GAAP net income attributable to the Company’s shareholders to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company’s performance. See the unaudited reconciliation of GAAP and non-GAAP results at the end of this announcement. NetEase encourages you to review its financial information in its entirety and not rely on a single financial measure.

Contact for Media and Investors:
Email: ir@service.netease.com
Tel: (+86) 571-8985-3378

 

NETEASE, INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

 December 31,  

 December 31,  

 December 31,  

2023

2024

2024

 RMB  

 RMB  

 USD (Note 1) 

Assets

Current assets:

   Cash and cash equivalents

21,428,902

51,383,310

7,039,485

   Time deposits

100,856,034

75,441,355

10,335,423

   Restricted cash

2,777,206

3,086,405

422,836

   Accounts receivable, net

6,422,417

5,669,027

776,654

   Inventories

695,374

571,548

78,302

   Prepayments and other current assets, net

6,076,595

6,416,868

879,107

   Short-term investments

4,436,057

10,756,143

1,473,586

Total current assets

142,692,585

153,324,656

21,005,393

Non-current assets:

   Property, equipment and software, net 

8,075,044

8,520,101

1,167,249

   Land use rights, net

4,075,143

4,172,465

571,625

   Deferred tax assets 

1,560,088

1,113,435

152,540

   Time deposits

1,050,000

3,025,000

414,423

   Restricted cash

550

5,208

713

   Other long-term assets

28,471,568

25,830,685

3,538,789

Total non-current assets

43,232,393

42,666,894

5,845,339

Total assets 

185,924,978

195,991,550

26,850,732

Liabilities, Redeemable Noncontrolling Interests
    and Shareholders’ Equity

Current liabilities:

   Accounts payable 

881,016

720,549

98,715

   Salary and welfare payables

4,857,206

4,683,009

641,570

   Taxes payable

2,571,534

2,759,185

378,007

   Short-term loans

19,240,163

11,805,051

1,617,285

   Contract liabilities

13,362,166

15,299,222

2,095,985

   Accrued liabilities and other payables

12,930,399

14,400,641

1,972,879

Total current liabilities

53,842,484

49,667,657

6,804,441

Non-current liabilities:

   Deferred tax liabilities

2,299,303

2,173,117

297,716

   Long-term loans

427,997

427,997

58,635

   Other long-term liabilities

1,271,113

1,228,641

168,323

Total non-current liabilities

3,998,413

3,829,755

524,674

Total liabilities

57,840,897

53,497,412

7,329,115

Redeemable noncontrolling interests 

115,759

84,272

11,545

NetEase, Inc.’s shareholders’ equity

124,285,776

138,685,606

18,999,850

Noncontrolling interests

3,682,546

3,724,260

510,222

Total equity

127,968,322

142,409,866

19,510,072

Total liabilities, redeemable noncontrolling 
    interests and shareholders’ equity    

185,924,978

195,991,550

26,850,732

The accompanying notes are an integral part of this announcement.

 

NETEASE, INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(in thousands, except per share data or per ADS data)

 Three Months Ended 

Year Ended

December 31, 

September 30, 

December 31, 

 December 31,  

 December 31,  

December 31, 

December 31, 

2023

2024

2024

2024

2023

2024

2024

 RMB 

 RMB 

 RMB 

 USD (Note 1) 

RMB

RMB

USD (Note 1)

Net revenues

27,140,165

26,209,879

26,747,811

3,664,435

103,468,159

105,295,236

14,425,388

Cost of revenues

(10,315,030)

(9,733,274)

(10,475,470)

(1,435,134)

(40,404,765)

(39,488,152)

(5,409,855)

Gross profit

16,825,135

16,476,605

16,272,341

2,229,301

63,063,394

65,807,084

9,015,533

Operating expenses:

Selling and marketing expenses 

(4,225,556)

(3,805,071)

(2,818,645)

(386,153)

(13,969,460)

(14,147,657)

(1,938,221)

General and administrative expenses

(1,251,869)

(1,100,328)

(1,162,381)

(159,246)

(4,899,880)

(4,550,625)

(623,433)

Research and development expenses 

(4,479,219)

(4,424,469)

(4,469,868)

(612,369)

(16,484,910)

(17,524,812)

(2,400,889)

Total operating expenses

(9,956,644)

(9,329,868)

(8,450,894)

(1,157,768)

(35,354,250)

(36,223,094)

(4,962,543)

Operating profit

6,868,491

7,146,737

7,821,447

1,071,533

27,709,144

29,583,990

4,052,990

Other income/(expenses):

Investment (losses)/income, net

(8,940)

578,398

(506,077)

(69,332)

1,306,722

355,286

48,674

Interest income, net

1,261,583

1,282,766

1,174,333

160,883

4,120,418

4,920,915

674,163

Exchange (losses)/gains, net

(810,904)

(1,055,518)

1,535,312

210,337

(132,999)

255,430

34,994

Other, net

434,759

43,600

278,952

38,216

1,053,642

602,134

82,492

Income before tax

7,744,989

7,995,983

10,303,967

1,411,637

34,056,927

35,717,755

4,893,313

Income tax

(1,068,657)

(1,289,545)

(1,385,014)

(189,746)

(4,699,704)

(5,461,408)

(748,210)

Net income

6,676,332

6,706,438

8,918,953

1,221,891

29,357,223

30,256,347

4,145,103

Accretion of redeemable noncontrolling
    interests

(966)

(962)

(1,039)

(142)

(3,589)

(3,919)

(537)

Net (income)/loss attributable to noncontrolling
    interests and redeemable noncontrolling
    interests

(93,103)

(167,041)

(151,435)

(20,747)

62,918

(554,819)

(76,010)

Net income attributable to the
    Company’s shareholders

6,582,263

6,538,435

8,766,479

1,201,002

29,416,552

29,697,609

4,068,556

Net income per share *

Basic

2.05

2.04

2.76

0.38

9.15

9.28

1.27

Diluted

2.02

2.03

2.73

0.37

9.05

9.19

1.26

Net income per ADS *

Basic

10.25

10.22

13.81

1.89

45.73

46.40

6.36

Diluted

10.12

10.14

13.67

1.87

45.23

45.95

6.29

Weighted average number of ordinary
    shares used in calculating net income
    per share *

Basic

3,212,328

3,198,646

3,174,113

3,174,113

3,216,475

3,200,453

3,200,453

Diluted

3,253,166

3,224,110

3,206,100

3,206,100

3,252,029

3,230,602

3,230,602

*  Each ADS represents five ordinary shares.

The accompanying notes are an integral part of this announcement.

     

NETEASE, INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

Three Months Ended

Year Ended

 December 31,  

 September 30,   

 December 31,  

 December 31,  

 December 31,  

 December 31,  

 December 31,  

2023

2024

2024

2024

2023

2024

2024

 RMB  

 RMB  

 RMB  

 USD (Note 1) 

 RMB  

 RMB  

 USD (Note 1) 

Cash flows from operating activities:

    Net income 

6,676,332

6,706,438

8,918,953

1,221,891

29,357,223

30,256,347

4,145,103

    Adjustments to reconcile net income to net cash provided
        by operating activities:

    Depreciation and amortization

659,772

520,567

697,447

95,550

3,055,260

2,417,894

331,250

    Fair value changes of equity security, other investments
        and financial instruments

151,571

(824,608)

358,852

49,163

(535,316)

(841,901)

(115,340)

    Impairment losses on investments

140,648

529,668

422,801

57,924

469,159

1,291,627

176,952

    Fair value changes of short-term investments

(106,532)

(100,071)

(241,431)

(33,076)

(414,207)

(530,607)

(72,693)

    Share-based compensation cost

812,987

978,139

931,444

127,608

3,242,810

3,882,939

531,960

    Allowance for expected credit losses

9,500

36,022

12,031

1,648

61,146

68,934

9,444

    Losses/(gains) on disposal of property, equipment and software 

3,385

(2,920)

(3,644)

(499)

5,676

(4,758)

(652)

    Unrealized exchange losses/(gains)

838,056

1,050,644

(1,542,986)

(211,388)

119,935

(719,162)

(98,525)

    (Gains)/losses on disposal of long-term investments,
        business and subsidiaries

(38,437)

(118,046)

232

32

(63,784)

(272,415)

(37,321)

    Deferred income taxes

193,854

711,639

404,109

55,363

131,437

320,726

43,939

    Share of results on equity method investees and revaluation
        results from previously held equity interest

(88,805)

(28,466)

(19,437)

(2,663)

(473,947)

155,568

21,313

    Changes in operating assets and liabilities: 

        Accounts receivable

53,089

146,758

517,850

70,945

(1,470,374)

716,375

98,143

        Inventories

25,054

(39,285)

42,135

5,772

296,764

123,780

16,958

        Prepayments and other assets

542,593

(1,234,390)

(432,196)

(59,211)

87,556

(809,590)

(110,913)

        Accounts payable

18,443

6,316

218,689

29,960

(559,419)

91,142

12,486

        Salary and welfare payables

1,992,931

(670,750)

1,759,382

241,034

(62,917)

(210,918)

(28,896)

        Taxes payable

(500,172)

224,015

154,651

21,187

(244,261)

187,788

25,727

        Contract liabilities

(847,562)

1,928,060

(209,626)

(28,719)

1,161,861

2,022,196

277,041

        Accrued liabilities and other payables

1,271,572

755,882

1,022,944

140,143

1,166,673

1,530,848

209,725

    Net cash provided by operating activities

11,808,279

10,575,612

13,012,200

1,782,664

35,331,275

39,676,813

5,435,701

Cash flows from investing activities:

    Purchase of property, equipment and software

(484,927)

(379,520)

(311,982)

(42,741)

(2,301,554)

(1,275,400)

(174,729)

    Proceeds from sale of property, equipment and software

405

1,072

9,295

1,273

10,302

14,533

1,991

    Purchase of intangible assets, content and licensed copyrights

(121,797)

(222,247)

(120,387)

(16,493)

(1,974,323)

(930,988)

(127,545)

    Net changes of short-term investments with terms of three
        months or less

(690,628)

1,585,395

3,798,989

520,460

(1,777,687)

(408,256)

(55,931)

    Purchase of short-term investments with terms over three
        months

–

(3,675,000)

(4,560,000)

(624,717)

–

(8,235,000)

(1,128,190)

    Proceeds from maturities of short-term investments with terms
        over three months

4,897,291

–

2,853,778

390,966

5,378,510

2,853,778

390,966

    Investment in long-term investments and acquisition of
        subsidiaries

(914,962)

(226,086)

(201,686)

(27,631)

(2,831,686)

(1,103,026)

(151,114)

    Proceeds from disposal of long-term investments, businesses,
        subsidiaries and other financial instruments

73,855

1,541,338

355,142

48,654

152,564

2,822,585

386,692

    Placement/rollover of matured time deposits

(46,666,670)

(36,766,094)

(21,691,769)

(2,971,760)

(124,693,598)

(154,792,305)

(21,206,459)

    Proceeds from maturities of time deposits

33,273,393

37,546,192

40,570,700

5,558,163

111,417,969

179,377,113

24,574,564

    Change in other long-term assets

(90,635)

(125,911)

(73,553)

(10,077)

(423,928)

(406,632)

(55,708)

    Net cash (used in)/provided by investing activities

(10,724,675)

(720,861)

20,628,527

2,826,097

(17,043,431)

17,916,402

2,454,537

Cash flows from financing activities:

    Net changes from loans with terms of three months or less  

6,179,979

(4,778,301)

606,092

83,034

(13,654,704)

(6,656,988)

(912,004)

    Proceeds of loans with terms over three months

2,511,000

5,395,810

457,000

62,609

13,569,160

13,920,080

1,907,043

    Payment of loans with terms over three months

(695,000)

(3,100,520)

–

–

(8,219,472)

(14,739,347)

(2,019,282)

    Net amounts received/(paid) related to capital contribution from
       or repurchase of noncontrolling interests shareholders

28,009

(8,394)

51,614

7,071

86,159

136,006

18,633

    Cash paid for repurchase of NetEase’s ADSs/purchase of
        subsidiaries’ ADSs and shares      

(625,832)

(3,994,212)

(1,595,093)

(218,527)

(5,234,294)

(8,830,115)

(1,209,721)

    Dividends paid to NetEase’s shareholders

(2,258,892)

(1,972,928)

(1,982,595)

(271,614)

(8,013,903)

(11,165,338)

(1,529,645)

    Net cash provided/(used in) by financing activities

5,139,264

(8,458,545)

(2,462,982)

(337,427)

(21,467,054)

(27,335,702)

(3,744,976)

    Effect of exchange rate changes on cash, cash equivalents and
        restricted cash held in foreign currencies

(174,276)

(68,136)

113,792

15,589

(202,457)

10,752

1,473

Net increase/(decrease) in cash, cash equivalents and restricted cash               

6,048,592

1,328,070

31,291,537

4,286,923

(3,381,667)

30,268,265

4,146,735

Cash, cash equivalents and restricted cash, at the beginning
    of the period

18,158,066

21,855,316

23,183,386

3,176,111

27,588,325

24,206,658

3,316,299

Cash, cash equivalents and restricted cash, at end of the period

24,206,658

23,183,386

54,474,923

7,463,034

24,206,658

54,474,923

7,463,034

Supplemental disclosures of cash flow information:

    Cash paid for income taxes, net

1,030,932

554,867

603,514

82,681

4,895,752

5,189,585

710,970

    Cash paid for interest expenses

71,847

165,881

24,343

3,335

779,872

489,622

67,078

The accompanying notes are an integral part of this announcement.

 

NETEASE, INC.

UNAUDITED SEGMENT INFORMATION

(in thousands, except percentages)

Three Months Ended

Year Ended

 December 31,  

 September 30,   

 December 31,  

 December 31,  

 December 31,  

December 31, 

December 31, 

2023

2024

2024

2024

2023

2024

2024

RMB

RMB

RMB

USD (Note 1)

RMB

RMB

USD (Note 1)

Net revenues:

Games and related value-added services 

20,921,355

20,864,036

21,242,410

2,910,198

81,565,449

83,622,643

11,456,254

Youdao

1,480,521

1,572,541

1,339,798

183,552

5,389,208

5,625,919

770,748

NetEase Cloud Music

1,985,548

1,999,163

1,880,490

257,626

7,866,992

7,950,146

1,089,166

Innovative businesses and others

2,752,741

1,774,139

2,285,113

313,059

8,646,510

8,096,528

1,109,220

Total net revenues

27,140,165

26,209,879

26,747,811

3,664,435

103,468,159

105,295,236

14,425,388

Cost of revenues:

Games and related value-added services 

(6,383,474)

(6,503,146)

(7,075,562)

(969,348)

(25,938,865)

(26,142,623)

(3,581,525)

Youdao

(741,720)

(783,085)

(699,045)

(95,769)

(2,621,746)

(2,877,428)

(394,206)

NetEase Cloud Music

(1,384,537)

(1,343,921)

(1,279,951)

(175,353)

(5,764,322)

(5,268,634)

(721,800)

Innovative businesses and others

(1,805,299)

(1,103,122)

(1,420,912)

(194,664)

(6,079,832)

(5,199,467)

(712,324)

Total cost of revenues

(10,315,030)

(9,733,274)

(10,475,470)

(1,435,134)

(40,404,765)

(39,488,152)

(5,409,855)

Gross profit:

Games and related value-added services 

14,537,881

14,360,890

14,166,848

1,940,850

55,626,584

57,480,020

7,874,729

Youdao

738,801

789,456

640,753

87,783

2,767,462

2,748,491

376,542

NetEase Cloud Music

601,011

655,242

600,539

82,273

2,102,670

2,681,512

367,366

Innovative businesses and others

947,442

671,017

864,201

118,395

2,566,678

2,897,061

396,896

Total gross profit

16,825,135

16,476,605

16,272,341

2,229,301

63,063,394

65,807,084

9,015,533

Gross profit margin:

Games and related value-added services 

69.5 %

68.8 %

66.7 %

66.7 %

68.2 %

68.7 %

68.7 %

Youdao

49.9 %

50.2 %

47.8 %

47.8 %

51.4 %

48.9 %

48.9 %

NetEase Cloud Music

30.3 %

32.8 %

31.9 %

31.9 %

26.7 %

33.7 %

33.7 %

Innovative businesses and others

34.4 %

37.8 %

37.8 %

37.8 %

29.7 %

35.8 %

35.8 %

The accompanying notes are an integral part of this announcement.

 

NETEASE, INC.

NOTES TO UNAUDITED FINANCIAL INFORMATION

Note 1: The conversion of Renminbi (RMB) into United States dollars (USD) is based on the noon buying rate of USD1.00 = RMB7.2993 on the last trading day of December 2024 (December 31, 2024) as set forth in the H.10 statistical release of the U.S. Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted into US$ at that rate on December 31, 2024, or at any other certain date.

Note 2: Share-based compensation cost reported in the Company’s unaudited condensed consolidated statements of comprehensive income is set out as follows in RMB and USD (in thousands):

Three Months Ended

Year Ended

December 31,

September 30, 

December 31,

December 31,

December 31,

December 31,

December 31,

2023

2024

2024

2024

2023

2024

2024

RMB

RMB

RMB

USD (Note 1)

RMB

RMB

USD (Note 1)

Share-based compensation cost included in:

Cost of revenues

216,717

306,283

304,687

41,742

823,765

1,185,854

162,461

Operating expenses

  Selling and marketing expenses

35,575

36,365

7,435

1,019

132,801

104,534

14,321

  General and administrative expenses

262,830

247,440

246,424

33,760

1,119,018

1,069,850

146,569

  Research and development expenses

297,865

388,051

372,898

51,087

1,167,226

1,522,701

208,609

The accompanying notes are an integral part of this announcement.

 

Note 3: The financial information prepared and presented in this announcement might be different from those published and to be published by NetEase’s listed subsidiary to meet the disclosure requirements under different accounting standards requirements.

Note 4: The unaudited reconciliation of GAAP and non-GAAP results is set out as follows in RMB and USD (in thousands, except per share data or per ADS data):

Three Months Ended

Year Ended

 December 31, 

 September 30,  

 December 31, 

 December 31, 

 December 31, 

December 31,

December 31,

2023

2024

2024

2024

2023

2024

2024

RMB

RMB

RMB

USD (Note 1)

RMB

RMB

USD (Note 1)

Net income attributable to the Company’s shareholders

6,582,263

6,538,435

8,766,479

1,201,002

29,416,552

29,697,609

4,068,556

Add: Share-based compensation

797,194

960,706

915,489

125,421

3,191,753

3,813,032

522,383

Non-GAAP net income attributable to the Company’s shareholders

7,379,457

7,499,141

9,681,968

1,326,423

32,608,305

33,510,641

4,590,939

Non-GAAP net income per share *

Basic

2.30

2.34

3.05

0.42

10.14

10.47

1.43

Diluted

2.27

2.33

3.02

0.41

10.03

10.37

1.42

Non-GAAP net income per ADS *

Basic

11.49

11.72

15.25

2.09

50.69

52.35

7.17

Diluted

11.34

11.63

15.09

2.07

50.14

51.85

7.10

*  Each ADS represents five ordinary shares.

The accompanying notes are an integral part of this announcement.

 

View original content:https://www.prnewswire.com/news-releases/netease-announces-fourth-quarter-and-fiscal-year-2024-unaudited-financial-results-302381212.html

SOURCE NetEase, Inc.

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Technology

CM Global Services Announces Project Santos, a Planned 50-Megawatt AI Data Center Campus in ERCOT South

Published

58 minutes ago

on

July 23, 2026

By

CM Global Services targets a site and engages with strategic partners to become operational in the AI data center space.

DENVER, July 23, 2026 /PRNewswire/ — CM Global Services, LLC (CMGS) today announced Project Santos, its plan to develop a 50-megawatt AI data center campus for a site in the ERCOT South grid zone. CMGS is a long-standing strategic partner of Compass Mining, Inc. and is a global provider of logistics, hardware sales, and infrastructure services, with a growing focus on AI infrastructure and building site development. The announcement was made by Shanon Squires, Chief Mining Officer of Compass Mining, during a panel on bitcoin mining companies diversifying into AI infrastructure at the Energy Investors Forum.

CMGS intends to deliver Project Santos in two phases. The first phase, a 7-megawatt, 5 MW of IT Load Tier III facility purpose-built for AI inference workloads, is targeted for completion by the end of the first quarter of 2027. A subsequent 43-megawatt expansion, bringing the site to its fully planned 50-megawatt capacity

“This is a disciplined next step for CM Global Services, drawing upon its expertise in standing up infrastructure, while Compass Mining simultaneously continues to be the gold standard in Bitcoin mining-related services,” said Shanon Squires. “Bitcoin mining remains the core of Compass Mining. CMGS’ Project Santos reflects the power infrastructure and site development discipline CMGS built over years, and we’re pursuing this initiative on our own terms.”

“This is a new step forward for CMGS, as we continue building for the future,” said Vishnu Mackenchery, Managing Director at CMGS. “Project Santos marks our entry into AI infrastructure and inference, and we’re charting our own path, moving fast to get there.”

GPU-as-a-Service for Enterprise and Neocloud Customers

Project Santos is being developed as a GPU-as-a-Service (GPUaaS) platform. Rather than requiring customers to bring their own hardware, CMGS is securing NVIDIA GB300 Blackwell GPU capacity to offer directly to off-takers as dedicated, single-tenant or multi-tenant compute. The company’s ideal customer profile is AI enterprise organizations seeking dedicated capacity, and CMGS is also in active discussions with neocloud providers.

Project Status

Site: located in the ERCOT South grid zoneCompute: CMGS is securing NVIDIA GB300 Blackwell GPU capacity to offer as GPU-as-a-Service to off-takersTotal planned capacity: 50 megawatts, 35 MW of IT to be delivered in two phasesPhase 1: 7 megawatts, 5 MW of IT load Tier III, targeted for completion by end of Q1Phase 2: adding a 43-megawatt expansion, 30 MW of IT load with utility-supported expansionCustomer profile: AI enterprise companies are the ideal customer; CMGS is also in active discussions with neocloud providers

About CMGS

CM Global Services (CMGS) is a global provider of logistics, hardware sales, and infrastructure services, with a growing focus on AI infrastructure and building site development. CMGS supports clients with end-to-end logistics solutions, hardware procurement, and site-level execution for next-generation compute infrastructure.

About CMGS and Compass Mining Partnership

Compass Mining serves as a strategic partner and advisor to CM Global Services (CMGS), supporting its growth across global logistics, hardware sales, and infrastructure services. As CMGS expands its focus into AI infrastructure and site development, Compass Mining’s guidance helps shape its strategic direction and execution. Together, the two organizations continue to collaborate on delivering end-to-end solutions for clients building next-generation compute infrastructure.

Disclaimer

This communication contains forward-looking statements relating to a potential closing of a transaction. There can be no assurance that the proposed transaction will be completed on the terms described, or at all. Forward-looking statements are subject to significant business, economic, and competitive uncertainties, many of which are beyond our control. This communication is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any securities of the company. Furthermore, investing in or engaging with our company involves substantial risk, and past performance or previous communications are not indicative of future results. There is no guarantee, assurance, or warranty that any specific financial outcome, return on investment, or overall results will be achieved. Actual results may differ materially and adversely from those expressed, projected, or implied in any forward-looking statements. Investors and stakeholders should not rely solely on preliminary press releases regarding potential transactions or projected financial metrics when making investment decisions. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws. Prospective investors are strongly encouraged to conduct their own independent due diligence and consult with a qualified, independent financial or legal advisor prior to making any investment.

Contact
All inquiries can be made to: Santos@CMGlobalServices.io 

View original content:https://www.prnewswire.com/news-releases/cm-global-services-announces-project-santos-a-planned-50-megawatt-ai-data-center-campus-in-ercot-south-302833610.html

SOURCE CM Global Services

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Technology

Advantech Unveils Next-Gen AI Infrastructure Solutions Powered by AMD EPYC™ 9006 Series Processors

Published

58 minutes ago

on

July 23, 2026

By

TAIPEI, July 23, 2026 /PRNewswire/ — Advantech, a global leader in industrial edge computing and edge AI solutions, today announced its next-generation server and network platforms powered by the latest AMD EPYC™ 9006 Series processors. Designed to accelerate AI infrastructure from the data center to the intelligent edge, Advantech’s 6th Gen AMD EPYC-powered servers deliver the performance, scalability, and reliability organizations need for AI, HPC, storage, networking, and mission-critical industrial workloads.

At AMD Advancing AI 2026, Advantech will showcase its latest 2U 4-node edge server and EATX server board, demonstrating how its workload-ready server solutions enable customers to build scalable, high-performance AI and edge computing infrastructure with greater deployment confidence.

Continuing Performance Leadership with AMD EPYC 9006 Series Processors

6th Gen AMD EPYC server CPUs bring continued leadership in performance, efficiency, memory bandwidth, and next-generation I/O. Featuring up to 128 cores and 256 threads, advanced 2nm process technology, “Zen 6” and “Zen 6c” architecture, up to 20% average generational performance uplift, and up to 20% performance-per-watt improvement, AMD EPYC 9006 Series processors are designed to support more virtual machines, higher throughput, and better system efficiency. With up to 128 PCIe Gen6 lanes per CPU, CXL™ 3.1 memory expansion, and support for DDR5 8000NHz and MRDIMM 12800MHz for high memory bandwidth, Advantech edge server solutions deliver balanced compute, memory, and I/O performance for next-generation AI, telco, edge, and storage infrastructure.

Key Features Include:

Up to 128 cores / 256 threads with “Zen 6” and “Zen 6c” architectureAdvanced 2nm process technology for improved performance and efficiencyUp to 20% average generational performance uplift and 20% performance-per-watt improvementDDR5-8000 and MRDIMM 12.8G support for higher memory bandwidth and capacityPCIe® Gen6 scalability: up to 128 lanes for 1 CPU and up to 196 lanes for 2 CPUsCXL™ 3.1 support for optimized memory expansion

Comprehensive Edge Server Solutions from Edge to Cloud

Advantech’s edge server portfolio powered by AMD EPYC™ 9006 Series processors delivers a complete board-to-system lineup for AI infrastructure, data centers, cloud, HCI, HPC, edge computing, industrial applications, and high-performance networking. The first-wave portfolio includes:
(1) The SKY-642E5, 4U MGX GPU server, for large-scale AI acceleration
(2) The SKY-722E5, 2U DC-MHS server with DC-SCM support, for modular data center and edge AI deployments
(3) The SKY-712E5, 1U DC-MHS server, supporting HHHL and FH-3/4L expansion cards for high-density enterprise edge and cloud workloads
(4) The SKY-822E5, 2U short-depth DC-SCM modular server, supporting 2–3 dual-slot GPU cards for space-constrained edge data centers
(5) The SKY-924E5F, 2U 4-node front-access server, for distributed edge computing,
(6) The ASMB-982 & ASMB-832 server boards for flexible, high-expandability system designs.

These new platforms also support PCIe Gen6 scalability, GPU-optimized architecture, advanced DDR5/MRDIMM memory, and AFA-ready high-density E1.S/E3.S NVMe SSD storage to meet low-latency data access, high-throughput storage performance, and scalable infrastructure for data-intensive AI and edge-cloud workloads.

Expanding the portfolio further, Advantech also introduces the FWA-6084, the 2U network appliance and is designed for demanding network security and edge AI workloads. It features DDR5/MRDIMM memory capability, eight Gen6 network module cards, and one PCIe Gen5 x16 slot for GPU or add-on card expansion. It is well positioned to support line-speed multiple 200G network workloads without compromise.

Together with Advantech’s unique service advantages—including 3-5-10 service guarantee, strict revision control, stable component supply, worldwide local support, and custom-ready integration—the new portfolio supports customers reduce deployment risk, secure long-term product roadmaps, and accelerate workload-ready AI and edge-cloud infrastructure from concept to deployment.

Explore more product information, please contact us or visit the Advantech x AMD website.

About Advantech

Advantech is a global leader in IoT intelligent systems and embedded platforms, driven by its vision of “Enabling an Intelligent Planet.” To address the growth of edge computing and AI, Advantech focuses on five key markets: Edge Intelligence Systems, Manufacturing, Energy and Utilities, iHealthcare, and iCity Services & iRetail. By integrating edge computing hardware, WISE-IoT software, sector-specific AI solutions, and domain expertise, Advantech creates an orchestration model that connects industrial ecosystems and accelerates industrial intelligence with partners and customers.(www.advantech.com) 

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SOURCE Advantech Co., Ltd.

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MulticoreWare and AMD Collaborate to Advance Physical AI and Autonomous Robotics on AMD Platforms

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58 minutes ago

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July 23, 2026

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Companies Demonstrated Real-Time Multimodal AI and Vision-Language-Action Workflows on AMD Ryzen™ AI Platforms at AMD Advancing AI 2026

SAN JOSE, Calif., July 23, 2026 /PRNewswire/ — MulticoreWare, Inc., a global technology company specializing in AI software solutions, physical AI, accelerated computing, and engineering services, today announced its ongoing collaboration with AMD to advance autonomous robotics and edge intelligence on AMD platforms.

As part of this collaboration, MulticoreWare joined AMD at AMD Advancing AI 2026 to present ‘Enabling Physical AI on AMD’, demonstrating how advanced vision, language, and action (VLA) models can drive real-time robotic intelligence on AMD Ryzen™ AI Embedded platforms.

As AI increasingly moves from the cloud into robots, autonomous systems, and intelligent edge devices, organizations need efficient ways to run sophisticated AI models closer to where decisions need to be made. Together, AMD and MulticoreWare are helping developers bring advanced perception, reasoning, and action capabilities to AMD-powered systems.

At AMD Advancing AI 2026, AMD and MulticoreWare demonstrated how multimodal VLA models run on AMD Ryzen™ AI Embedded integrated GPUs using AMD ROCm™, enabling robots to perceive, reason, and act in real time. The session showcased practical guidance for AI developers, robotics engineers, and innovators building next-generation intelligent machines on AMD Embedded platforms.

“Physical AI is reshaping how machines perceive, decide and act in the real world,” said Sumit Shah, Head of Product Management and Marketing, Adaptive and Embedded Computing Group, AMD. “AMD Ryzen™ AI Embedded X100 Series processors deliver a scalable, open x86 Embedded platform that unifies AI, real-time control and industrial reliability to enable the generation of autonomous systems without locking developers into a single compute architecture or software stack.”

“A Physical AI system depends on a tightly integrated loop between perception and actuation. It must operate in real time, on real hardware, and in environments that are inherently unpredictable,” said Vish Rajalingam, VP & GM, Mobility and Transportation BU at MulticoreWare. “That makes it a hardware-software co-design challenge, not simply an AI inference problem. Building on the open-source AMD Robotics Software Suite, we work closely with OEMs to optimize the entire stack so that latency, reliability and accuracy targets are consistently achieved in production environments. That’s the integration MulticoreWare and AMD deliver together to move intelligent robotic systems from prototype to deployment.”

This session builds on more than 15 years of collaboration, with MulticoreWare delivering software optimization, AI, and engineering expertise across the AMD ecosystem, including Ryzen™ AI, Ryzen™, AMD EPYC™, AMD Instinct™, AMD Radeon™, and adaptive computing technologies.

About MulticoreWare

MulticoreWare, Inc. is a global technology company delivering AI software solutions and engineering services that accelerate innovation in Physical AI, Agentic AI, Robotics, Edge Intelligence, and Accelerated Computing. With expertise in multimodal AI, Vision-Language-Action (VLA) models, sensor perception and fusion, AI optimization, embedded systems, and high-performance software, MulticoreWare helps customers transform advanced AI technologies into production-ready solutions. Its innovations power applications across automotive, robotics, industrial automation, smart cities, healthcare, defense, and intelligent edge devices, while its video codec technologies enable next-generation video experiences worldwide.
www.multicorewareinc.com

AMD, the AMD Arrow logo, EPYC, Instinct, Radeon, Ryzen and combinations thereof are trademarks of Advanced Micro Devices, Inc.

Contact:
Suchithra Thyagarajan
VP – Corporate Marketing
marcom@multicorewareinc.com 

 

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SOURCE MulticoreWare Inc.

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