Technology
Broadcom Inc. Announces First Quarter Fiscal Year 2025 Financial Results and Quarterly Dividend
Published
2 years agoon
By
Revenue of $14,916 million for the first quarter, up 25 percent from the prior year periodGAAP net income of $5,503 million for the first quarter; Non-GAAP net income of $7,823 million for the first quarterAdjusted EBITDA of $10,083 million for the first quarter, or 68 percent of revenueGAAP diluted EPS of $1.14 for the first quarter; Non-GAAP diluted EPS of $1.60 for the first quarterCash from operations of $6,113 million for the first quarter, less capital expenditures of $100 million, resulted in $6,013 million of free cash flow, or 40 percent of revenueQuarterly common stock dividend of $0.59 per shareSecond quarter fiscal year 2025 revenue guidance of approximately $14.9 billion, an increase of 19 percent from the prior year periodSecond quarter fiscal year 2025 Adjusted EBITDA guidance of approximately 66 percent of projected revenue (1)
PALO ALTO, Calif., March 6, 2025 /PRNewswire/ — Broadcom Inc. (Nasdaq: AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, today reported financial results for its first quarter of fiscal year 2025, ended February 2, 2025, provided guidance for its second quarter of fiscal year 2025 and announced its quarterly dividend.
“Broadcom’s record first quarter revenue and adjusted EBITDA were driven by both AI semiconductor solutions and infrastructure software. Q1 AI revenue grew 77% year-over-year to $4.1 billion and infrastructure software revenue grew 47% year-over-year to $6.7 billion,” said Hock Tan, President and CEO of Broadcom Inc. “We expect continued strength in AI semiconductor revenue of $4.4 billion in Q2, as hyperscale partners continue to invest in AI XPUs and connectivity solutions for AI data centers.”
“Consolidated revenue grew 25% year-over-year to a record $14.9 billion. Adjusted EBITDA increased 41% year-over-year to a record $10.1 billion,” said Kirsten Spears, CFO of Broadcom Inc. “Free cash flow was $6.0 billion, up 28% year-over-year.”
(1) The Company is not readily able to provide a reconciliation of the projected non-GAAP financial information presented to the relevant projected GAAP measure without unreasonable effort.
First Quarter Fiscal Year 2025 Financial Highlights
GAAP
Non-GAAP
(Dollars in millions, except per share data)
Q1 25
Q1 24
Change
Q1 25
Q1 24
Change
Net revenue
$
14,916
$
11,961
+25
%
$
14,916
$
11,961
+25
%
Net income
$
5,503
$
1,325
+$
4,178
$
7,823
$
5,254
+$
2,569
Earnings per common share – diluted
$
1.14
$
0.28
+$
0.86
$
1.60
$
1.10
+$
0.50
(Dollars in millions)
Q1 25
Q1 24
Change
Cash flow from operations
$
6,113
$
4,815
+$
1,298
Adjusted EBITDA
$
10,083
$
7,156
+$
2,927
Free cash flow
$
6,013
$
4,693
+$
1,320
Net revenue by segment
(Dollars in millions)
Q1 25
Q1 24
Change
Semiconductor solutions
$
8,212
55
%
$
7,390
62
%
+11
%
Infrastructure software
6,704
45
4,571
38
+47
%
Total net revenue
$
14,916
100
%
$
11,961
100
%
The Company’s cash and cash equivalents at the end of the fiscal quarter were $9,307 million, compared to $9,348 million at the end of the prior fiscal quarter.
During the first fiscal quarter, the Company generated $6,113 million in cash from operations and spent $100 million on capital expenditures. The Company paid $2,036 million of withholding taxes related to net settled equity awards that vested in the quarter (resulting in the elimination of 8.7 million shares).
On December 31, 2024, the Company paid a cash dividend of $0.59 per share, totaling $2,774 million.
The differences between the Company’s GAAP and non-GAAP results are described generally under “Non-GAAP Financial Measures” below and presented in detail in the financial reconciliation tables attached to this release.
Second Quarter Fiscal Year 2025 Business Outlook
Based on current business trends and conditions, the outlook for the second quarter of fiscal year 2025, ending May 4, 2025, is expected to be as follows:
Second quarter revenue guidance of approximately $14.9 billion; andSecond quarter Adjusted EBITDA guidance of approximately 66 percent of projected revenue.
The guidance provided above is only an estimate of what the Company believes is realizable as of the date of this release. The Company is not readily able to provide a reconciliation of projected Adjusted EBITDA to projected net income without unreasonable effort. Actual results will vary from the guidance and the variations may be material. The Company undertakes no intent or obligation to publicly update or revise any of these projections, whether as a result of new information, future events or otherwise, except as required by law.
Quarterly Dividends
The Company’s Board of Directors has approved a quarterly cash dividend of $0.59 per share. The dividend is payable on March 31, 2025, to stockholders of record at the close of business (5:00 p.m. Eastern Time) on March 20, 2025.
Financial Results Conference Call
Broadcom Inc. will host a conference call to review its financial results for the first quarter of fiscal year 2025 and to discuss the business outlook today at 2:00 p.m. Pacific Time.
To Listen via Internet: The conference call can be accessed live online in the Investors section of the Broadcom website at https://investors.broadcom.com/.
Replay: An audio replay of the conference call can be accessed for one year through the Investors section of Broadcom’s website at https://investors.broadcom.com/.
Non-GAAP Financial Measures
The non-GAAP measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. A reconciliation between GAAP and non-GAAP financial data is included in the supplemental financial data attached to this press release. Broadcom believes non-GAAP financial information provides additional insight into the Company’s on-going performance. Therefore, Broadcom provides this information to investors for a more consistent basis of comparison and to help them evaluate the results of the Company’s on-going operations and enable more meaningful period to period comparisons.
In addition to GAAP reporting, Broadcom provides investors with net income, operating income, gross margin, operating expenses, cash flow and other data on a non-GAAP basis. This non-GAAP information excludes amortization of acquisition-related intangible assets, stock-based compensation expense, restructuring and other charges, acquisition-related costs, including integration costs, non-GAAP tax reconciling adjustments, and other adjustments. Management does not believe that these items are reflective of the Company’s underlying performance. Internally, these non-GAAP measures are significant measures used by management for purposes of evaluating the core operating performance of the Company, establishing internal budgets, calculating return on investment for development programs and growth initiatives, comparing performance with internal forecasts and targeted business models, strategic planning, evaluating and valuing potential acquisition candidates and how their operations compare to the Company’s operations, and benchmarking performance externally against the Company’s competitors. The exclusion of these and other similar items from Broadcom’s non-GAAP financial results should not be interpreted as implying that these items are non-recurring, infrequent or unusual.
Free cash flow measures have limitations as they omit certain components of the overall cash flow statement and do not represent the residual cash flow available for discretionary expenditures. Investors should not consider presentation of free cash flow measures as implying that stockholders have any right to such cash. Broadcom’s free cash flow may not be calculated in a manner comparable to similarly named measures used by other companies.
About Broadcom
Broadcom Inc. (NASDAQ: AVGO) is a global technology leader that designs, develops, and supplies a broad range of semiconductor, enterprise software and security solutions. Broadcom’s category-leading product portfolio serves critical markets including cloud, data center, networking, broadband, wireless, storage, industrial, and enterprise software. Our solutions include service provider and enterprise networking and storage, mobile device and broadband connectivity, mainframe, cybersecurity, and private and hybrid cloud infrastructure. Broadcom is a Delaware corporation headquartered in Palo Alto, CA. For more information, go to www.broadcom.com.
Cautionary Note Regarding Forward-Looking Statements
This announcement contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning Broadcom. These statements include, but are not limited to, statements that address our expected future business and financial performance, and other statements identified by words such as “will,” “expect,” “believe,” “anticipate,” “estimate,” “should,” “intend,” “plan,” “potential,” “predict,” “project,” “aim,” and similar words, phrases or expressions. These forward-looking statements are based on current expectations and beliefs of Broadcom’s management, current information available to Broadcom’s management, and current market trends and market conditions and involve risks and uncertainties that may cause actual results to differ materially from those contained in forward-looking statements. Accordingly, undue reliance should not be placed on such statements.
Particular uncertainties that could materially affect future results include risks associated with: global economic conditions and uncertainty; government regulations, trade restrictions and trade tensions; global political and economic conditions relating to our international operations; our acquisition of VMware, Inc., including our ability to realize the expected benefits; any acquisitions or dispositions we may make, such as delays, challenges and expenses associated with receiving governmental and regulatory approvals and satisfying other closing conditions, and with integrating acquired businesses with our existing businesses and our ability to achieve the benefits, growth prospects and synergies expected by such acquisitions; dependence on and risks associated with distributors and other channel partners of our products; dependence on senior management and our ability to attract and retain qualified personnel; our ability to protect against cyber security threats and a breach of security systems; any loss of our significant customers and fluctuations in the timing and volume of significant customer demand; cyclicality in the semiconductor industry or in our target markets; our ability to make successful investments in research and development; our ability to continue achieving design wins with our customers, as well as the timing of any design wins; our dependence on contract manufacturing and outsourced supply chain; our dependency on a limited number of suppliers; prolonged disruptions of our or our contract manufacturers’ manufacturing facilities, warehouses or other significant operations; our ability to accurately estimate customers’ demand and adjust our manufacturing and supply chain accordingly; our ability to improve our manufacturing capacity and quality; involvement in legal proceedings; ability of our software products to manage and secure IT infrastructures and environments; demand for our data center virtualization products and customer acceptance of our products, services and business strategy; compatibility of our software products with operating environments, platforms or third-party products; our ability to enter into satisfactory software license agreements; use of open source software in our products; sales to government customers; our ability to manage products and services lifecycles; quarterly and annual fluctuations in operating results; our competitive performance; our ability to maintain or improve gross margin; our ability to protect our intellectual property and the unpredictability of any associated litigation expenses; any expenses or reputational damage associated with resolving customer product warranty and indemnification claims, or other undetected defects or bugs; our compliance with privacy and data security laws; our provision for income taxes and overall cash tax costs; our ability to maintain tax concessions in certain jurisdictions; potential tax liabilities as a result of acquiring VMware; our significant indebtedness and the need to generate sufficient cash flows to service and repay such debt; and other events and trends on a national, regional, industry-specific and global scale, including those of a political, economic, business, competitive and regulatory nature.
Our filings with the SEC, which are available without charge at the SEC’s website at https://www.sec.gov, discuss some of the important risk factors that may affect our business, results of operations and financial condition. Actual results may vary from the estimates provided. We undertake no intent or obligation to publicly update or revise any of the estimates and other forward-looking statements made in this announcement, whether as a result of new information, future events or otherwise, except as required by law.
Contact:
Ji Yoo
Broadcom Inc.
Investor Relations
650-427-6000
investor.relations@broadcom.com
(AVGO-Q)
BROADCOM INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS – UNAUDITED
(IN MILLIONS, EXCEPT PER SHARE DATA)
Fiscal Quarter Ended
February 2,
November 3,
February 4,
2025
2024
2024
Net revenue
$
14,916
$
14,054
$
11,961
Cost of revenue:
Cost of revenue
3,273
3,399
3,114
Amortization of acquisition-related intangible assets
1,484
1,602
1,380
Restructuring charges
14
51
92
Total cost of revenue
4,771
5,052
4,586
Gross margin
10,145
9,002
7,375
Research and development
2,253
2,234
2,308
Selling, general and administrative
949
1,010
1,572
Amortization of acquisition-related intangible assets
511
813
792
Restructuring and other charges
172
318
620
Total operating expenses
3,885
4,375
5,292
Operating income
6,260
4,627
2,083
Interest expense
(873)
(916)
(926)
Other income, net
103
52
185
Income from continuing operations before income taxes
5,490
3,763
1,342
Provision for (benefit from) income taxes
(13)
(442)
68
Income from continuing operations
5,503
4,205
1,274
Income from discontinued operations, net of income taxes
–
119
51
Net income
$
5,503
$
4,324
$
1,325
Basic income per share:
Income per share from continuing operations
$
1.17
$
0.89
$
0.28
Income per share from discontinued operations
–
0.03
0.01
Net income per share
$
1.17
$
0.92
$
0.29
Diluted income per share:
Income per share from continuing operations
$
1.14
$
0.87
$
0.27
Income per share from discontinued operations
–
0.03
0.01
Net income per share
$
1.14
$
0.90
$
0.28
Weighted-average shares used in per share calculations:
Basic
4,695
4,679
4,517
Diluted
4,836
4,828
4,666
Stock-based compensation expense included in continuing operations:
Cost of revenue
$
153
$
159
$
161
Research and development
822
839
863
Selling, general and administrative
305
316
548
Total stock-based compensation expense
$
1,280
$
1,314
$
1,572
BROADCOM INC.
FINANCIAL RECONCILIATION: GAAP TO NON-GAAP – UNAUDITED
(IN MILLIONS)
Fiscal Quarter Ended
February 2,
November 3,
February 4,
2025
2024
2024
Gross margin on GAAP basis
$
10,145
$
9,002
$
7,375
Amortization of acquisition-related intangible assets
1,484
1,602
1,380
Stock-based compensation expense
153
159
161
Restructuring charges
14
51
92
Acquisition-related costs
–
–
6
Gross margin on non-GAAP basis
$
11,796
$
10,814
$
9,014
Research and development on GAAP basis
$
2,253
$
2,234
$
2,308
Stock-based compensation expense
822
839
863
Acquisition-related costs
–
–
1
Research and development on non-GAAP basis
$
1,431
$
1,395
$
1,444
Selling, general and administrative expense on GAAP basis
$
949
$
1,010
$
1,572
Stock-based compensation expense
305
316
548
Acquisition-related costs
107
86
285
Selling, general and administrative expense on non-GAAP basis
$
537
$
608
$
739
Total operating expenses on GAAP basis
$
3,885
$
4,375
$
5,292
Amortization of acquisition-related intangible assets
511
813
792
Stock-based compensation expense
1,127
1,155
1,411
Restructuring and other charges
172
318
620
Acquisition-related costs
107
86
286
Total operating expenses on non-GAAP basis
$
1,968
$
2,003
$
2,183
Operating income on GAAP basis
$
6,260
$
4,627
$
2,083
Amortization of acquisition-related intangible assets
1,995
2,415
2,172
Stock-based compensation expense
1,280
1,314
1,572
Restructuring and other charges
186
369
712
Acquisition-related costs
107
86
292
Operating income on non-GAAP basis
$
9,828
$
8,811
$
6,831
Interest expense on GAAP basis
$
(873)
$
(916)
$
(926)
Loss on debt extinguishment
65
52
–
Interest expense on non-GAAP basis
$
(808)
$
(864)
$
(926)
Other income, net on GAAP basis
$
103
$
52
$
185
(Gains) losses on investments
4
30
(33)
Other
(31)
–
–
Other income, net on non-GAAP basis
$
76
$
82
$
152
Provision for (benefit from) income taxes on GAAP basis
$
(13)
$
(442)
$
68
Non-GAAP tax reconciling adjustments
1,286
1,506
735
Provision for income taxes on non-GAAP basis
$
1,273
$
1,064
$
803
Net income on GAAP basis
$
5,503
$
4,324
$
1,325
Amortization of acquisition-related intangible assets
1,995
2,415
2,172
Stock-based compensation expense
1,280
1,314
1,572
Restructuring and other charges
186
369
712
Acquisition-related costs
107
86
292
Loss on debt extinguishment
65
52
–
(Gains) losses on investments
4
30
(33)
Other
(31)
–
–
Non-GAAP tax reconciling adjustments
(1,286)
(1,506)
(735)
Income from discontinued operations, net of income taxes
–
(119)
(51)
Net income on non-GAAP basis
$
7,823
$
6,965
$
5,254
Net income on GAAP basis
$
5,503
$
4,324
$
1,325
Non-GAAP Adjustments:
Amortization of acquisition-related intangible assets
1,995
2,415
2,172
Stock-based compensation expense
1,280
1,314
1,572
Restructuring and other charges
186
369
712
Acquisition-related costs
107
86
292
Loss on debt extinguishment
65
52
–
(Gains) losses on investments
4
30
(33)
Other
(31)
–
–
Non-GAAP tax reconciling adjustments
(1,286)
(1,506)
(735)
Income from discontinued operations, net of income taxes
–
(119)
(51)
Other Adjustments:
Interest expense
808
864
926
Provision for income taxes on non-GAAP basis
1,273
1,064
803
Depreciation
142
156
139
Amortization of purchased intangibles and right-of-use assets
37
40
34
Adjusted EBITDA
$
10,083
$
9,089
$
7,156
Weighted-average shares used in per share calculations – diluted on GAAP basis
4,836
4,828
4,666
Non-GAAP adjustment (1)
59
77
113
Weighted-average shares used in per share calculations – diluted on non-GAAP basis
4,895
4,905
4,779
Net cash provided by operating activities
$
6,113
$
5,604
$
4,815
Purchases of property, plant and equipment
(100)
(122)
(122)
Free cash flow
$
6,013
$
5,482
$
4,693
Fiscal
Quarter
Ending
May 4,
Expected average diluted share count:
2025
Weighted-average shares used in per share calculation – diluted on GAAP basis
4,840
Non-GAAP adjustment (1)
107
Weighted-average shares used in per share calculation – diluted on non-GAAP basis
4,947
(1) Non-GAAP adjustment for the number of shares used in the diluted per share calculations excludes the impact of stock-based compensation
expense expected to be incurred in future periods and not yet recognized in the financial statements, which would otherwise be assumed to be
used to repurchase shares under the GAAP treasury stock method.
BROADCOM INC.
CONDENSED CONSOLIDATED BALANCE SHEETS – UNAUDITED
(IN MILLIONS)
February 2,
November 3,
2025
2024
ASSETS
Current assets:
Cash and cash equivalents
$
9,307
$
9,348
Trade accounts receivable, net
4,955
4,416
Inventory
1,908
1,760
Other current assets
4,820
4,071
Total current assets
20,990
19,595
Long-term assets:
Property, plant and equipment, net
2,465
2,521
Goodwill
97,871
97,873
Intangible assets, net
38,583
40,583
Other long-term assets
5,449
5,073
Total assets
$
165,358
$
165,645
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable
$
1,905
$
1,662
Employee compensation and benefits
922
1,971
Short-term debt
5,653
1,271
Other current liabilities
12,430
11,793
Total current liabilities
20,910
16,697
Long-term liabilities:
Long-term debt
60,926
66,295
Other long-term liabilities
13,733
14,975
Total liabilities
95,569
97,967
Stockholders’ equity:
Preferred stock
–
–
Common stock
5
5
Additional paid-in capital
66,848
67,466
Retained earnings
2,729
–
Accumulated other comprehensive income
207
207
Total stockholders’ equity
69,789
67,678
Total liabilities and equity
$
165,358
$
165,645
BROADCOM INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS – UNAUDITED
(IN MILLIONS)
Fiscal Quarter Ended
February 2,
November 3,
February 4,
2025
2024
2024
Cash flows from operating activities:
Net income
$
5,503
$
4,324
$
1,325
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of intangible and right-of-use assets
2,032
2,455
2,206
Depreciation
142
156
139
Stock-based compensation
1,280
1,314
1,582
Deferred taxes and other non-cash taxes
(696)
(868)
(294)
Loss on debt extinguishment
65
52
–
Non-cash interest expense
97
91
102
Other
41
138
38
Changes in assets and liabilities, net of acquisitions and disposals:
Trade accounts receivable, net
(539)
249
1,756
Inventory
(148)
134
(14)
Accounts payable
241
(85)
(74)
Employee compensation and benefits
(908)
196
(660)
Other current assets and current liabilities
26
(1,410)
(2,182)
Other long-term assets and long-term liabilities
(1,023)
(1,142)
891
Net cash provided by operating activities
6,113
5,604
4,815
Cash flows from investing activities:
Acquisition of business, net of cash acquired
–
–
(25,416)
Purchases of property, plant and equipment
(100)
(122)
(122)
Purchases of investments
(105)
(30)
(13)
Sales of investments
18
20
89
Other
13
–
(15)
Net cash used in investing activities
(174)
(132)
(25,477)
Cash flows from financing activities:
Proceeds from long-term borrowings
2,986
4,969
30,010
Payments on debt obligations
(8,090)
(7,472)
(934)
Proceeds from commercial paper, net
3,980
–
–
Payments of dividends
(2,774)
(2,484)
(2,435)
Repurchases of common stock – repurchase program
–
–
(7,176)
Shares repurchased for tax withholdings on vesting of equity awards
(2,036)
(1,204)
(1,114)
Issuance of common stock
–
126
–
Other
(46)
(11)
(14)
Net cash provided by (used in) financing activities
(5,980)
(6,076)
18,337
Net change in cash and cash equivalents
(41)
(604)
(2,325)
Cash and cash equivalents at beginning of period
9,348
9,952
14,189
Cash and cash equivalents at end of period
$
9,307
$
9,348
$
11,864
Supplemental disclosure of cash flow information:
Cash paid for interest
$
671
$
738
$
750
Cash paid for income taxes
$
404
$
832
$
904
View original content:https://www.prnewswire.com/news-releases/broadcom-inc-announces-first-quarter-fiscal-year-2025-financial-results-and-quarterly-dividend-302395106.html
SOURCE Broadcom Inc.
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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.
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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
1 hour 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.
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SOURCE China Daily
Technology
The Ultimate Send-off to Summer: CSTS Debuts Global Entertainment IP PremierX at New York’s Pier 17, Ushering in a New Era of Live Entertainment
Published
3 hours agoon
October 24, 2026By
NEW YORK, Oct. 24, 2026 /PRNewswire/ — CSTS Enterprises (‘CSTS’), a New York-based sports, entertainment, integrated media and travel technology group, today announced the official launch of PremierXTM, its flagship live entertainment brand, with a landmark Halloween Weekend event “AFTER DARK” at The Rooftop at Pier 17 in New York on October 30, 2026.
Capping off Seaport’s 2026 Summer Season in unforgettable fashion, the grand finale brings a powerhouse lineup of stars to the PremierXTM stage at Pier 17, featuring Lil Xan, Armani White, DJ Soda, Nate Wyatt, and surprise A-list guest headliners. Set against the iconic Manhattan skyline, the landmark eventing unites chart-topping hip-hop and high-octane electronic music for a festival-grade experience as The Rooftop at Pier 17 transforms into the city’s premier live music destination.
Building on the momentum of the PremierXTM After Party for the 2026 World Cup Final that took place in New York on July 19th, “AFTER DARK” signals the official debut of PremierXTM, a proprietary, New York – born global entertainment IP created by CSTS to deliver defining cultural experiences at the intersection of music, sport, art and lifestyle. Centred on the power of cultural crossover, PremierXTM serves as an international bridge connecting East and West, modern innovation and timeless classical, while uniting world-class artists, creators, performers and audiences through the universal language of entertainment and premium live experiences.
The launch also marks the beginning of a promising relationship with Pier 17, providing a world-class stage for PremierXTM to accelerate its growth in the U.S. and engage international audiences over the long term. By combining PremierXTM’s global entertainment vision with Pier 17’s iconic waterfront setting, the partnership aims to create a premier destination for live experiences, empowering both platforms to expand their global reach, deepen audience engagement, and drive sustainable growth.
As a key pillar of CSTS’ integrated ecosystem spanning entertainment, sports, travel, integrated media and marketing solutions, PremierXTM further strengthens the Group’s ability to create high-impact experiences that connect audiences, destinations and brand partners. With the global live entertainment market projected to grow from approximately US$203 billion in 2025 to US$270 billion by 2030[1], PremierXTM is well-positioned to capitalize on the growing demand for premium, experience-led entertainment while creating long-term value to the Group through recurring audience engagement, tourism and brand partnerships.
“PremierX TM represents a significant milestone in CSTS’ evolution from a leading operator of global sports and hospitality platforms into a creator of world-class entertainment experiences,” said Abel Zhao, Group CEO and Executive Director at CSTS Enterprises. “The season finale at Pier17 marks the beginning of an exciting new chapter for CSTS as we expand our entertainment footprint and introduce a platform designed to deliver iconic live experiences and bring together artists and audiences from across the globe.”
“PremierXTM was built from the ground up as a bespoke platform to champion multicultural talent and visionary creative performers.” said Jason Liu, Regional Director of CSTS USA. “Starting from New York, we are building a scalable global brand that brings iconic live experiences to audiences worldwide while expanding our presence across key entertainment hubs in North America, Asia and Europe.”
Following its New York launch, PremierXTM plans to expand through a broader international rollout across North America, Asia and Europe, with future editions planned as part of a growing network of recurring live entertainment properties and flagship cultural events.
For ticket information on PremierXTM: “AFTER DARK”, visit
https://www.axs.com/events/1644912/after-dark-tickets
About CSTS Enterprises
CSTS Enterprises is an integrated media, entertainment, sports, and travel technology group. Headquartered in New York City, the company develops and partners with intellectual properties and brands to deliver compelling experiences that connect with audiences across the world. In addition to its own initiatives, including Generation CTM and PremierXTM, it collaborates with international IPs including FIFA World Cup, UEFA European Championship, and Formula 1.
CSTS integrates experiential marketing, travel, data, and technology to deliver seamless end-to-end audience experiences. The company engages consumers across physical events and digital channels, executing at scale worldwide, turning complex activations into co-ordinated, measurable outcomes.
[1] Source: Industry research by Markets and Markets, Live Entertainment Market Size, Share, Latest Trends & Growth Analysis, 2025-2030, Live Entertainment Market Size, Share, Latest Trends & Growth Analysis, 2025-2030.
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SOURCE CSTS Enterprises
In HelloNation, Custom Fabrication Expert Mark Coyle Explains a Common Mistake in Custom Aluminum Design
World Young Scientist Summit 2026 Opens in Wenzhou, Zhejiang
The Ultimate Send-off to Summer: CSTS Debuts Global Entertainment IP PremierX at New York’s Pier 17, Ushering in a New Era of Live Entertainment
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