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iHuman Inc. Announces Fourth Quarter and Fiscal Year 2023 Unaudited Financial Results

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3 years ago

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BEIJING, Feb. 29, 2024 /PRNewswire/ — iHuman Inc. (NYSE: IH) (“iHuman” or the “Company”), a leading provider of tech-powered, intellectual development products in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2023.

Fourth Quarter 2023 Highlights

Revenues were RMB250.4 million (US$35.3 million), compared with RMB260.7 million in the same period last year.Gross profit was RMB178.2 million (US$25.1 million), compared with RMB181.0 million in the same period last year.Operating income was RMB21.9 million (US$3.1 million), compared with RMB39.1 million in the same period last year.Net income was RMB33.3 million (US$4.7 million), compared with RMB35.4 million in the same period last year.Average total MAUs[1] reached a record-high of 25.38 million, a year-over-year increase of 14.2%.

Fiscal Year 2023 Highlights

Revenues were RMB1,018.1 million (US$143.4 million), compared with RMB985.5 million in fiscal year 2022.Gross profit was RMB721.3 million (US$101.6 million), compared with RMB691.2 million in fiscal year 2022.Operating income was RMB159.9 million (US$22.5 million), compared with RMB111.6 million in fiscal year 2022.Net income was RMB180.9 million (US$25.5 million), compared with RMB109.8 million in fiscal year 2022.Average total MAUs were 23.04 million, a year-over-year increase of 16.0%.

[1] “Average total MAUs” refers to the monthly average of the sum of the MAUs of each of the Company’s apps during a specific period, which is counted based on the number of unique mobile devices through which such app is accessed at least once in a given month, and duplicate access to different apps is not eliminated from the total MAUs calculation.
[2] “Paying users” refers to users who paid subscription fees for premium content on any of the Company’s apps during a specific period; a user who makes payments across different apps using the same registered account is counted as one paying user, and a user who makes payments for the same app multiple times in the same period is counted as one paying user.

Dr. Peng Dai, Director and Chief Executive Officer of iHuman, commented, “As we look back on 2023, I am truly inspired by the accomplishments that we have achieved, especially considering the decline in China’s newborn population over the past few years. In response to the challenges posed by the declining birth rate, we have been actively expanding our presence in the international markets, diversifying our product portfolio, and developing products that cover a broader age demographic. These strategic efforts have helped us achieve remarkable progress. For instance, our globally-oriented app, Aha World, delivered impressive performance in 2023. By the end of the year, its YouTube and TikTok accounts collectively attracted over 200 million views. It also earned YouTube’s Silver Creator Award and rose to rank among the top three most popular children’s apps on the U.S. Apple app store in the fourth quarter. Meanwhile, our flagship product, iHuman Chinese, has consistently held the No.1 spot in the top-grossing category for children’s apps on the Apple app store in China for iPad users for nearly 4.5 years, according to Appfigures, a reputable American data analytics company. This past year has been marked by revenue growth and sustained profitability, and we once again set a new record for average total MAUs in the fourth quarter which further solidified our position as an industry leader.”

“We are also thrilled to announce the acquisition of intellectual property assets related to “Cosmicrew” from Kunpeng, an animation production studio within the Perfect World Group. This strategic acquisition is expected to generate significant synergies with our business. Firstly, “Cosmicrew” is a popular cartoon adventure series that has established a strong presence in the children’s entertainment sector. The light-hearted and delightful nature of this cartoon IP seamlessly compliments our overall product style and aesthetic. With the IP already integrated into some of our products before the acquisition, we now have greater autonomy over our creative content. In addition, we now can expand our product range further by developing additional IP offerings and derivatives, including animations, toys, and more. At the market level, “Cosmicrew” is a popular cartoon with a large audience base, and this acquisition will enable us to further extend our market reach and engage with a broader audience.”

“As we continue to progress on our strategic initiatives, we remain fully dedicated to strengthening our core competencies through ongoing product enhancement. We have been enriching the content and functionality of our app products to elevate the digital experience of our users and have made further strides in integrating our online and offline offerings to create a more immersive and holistic journey for users. For example, we rolled out both multi-leveled physical books and a specially developed smart reading pen that complement our leveled English reading app, iHuman Fantastic Friends. This combination allows kids to explore captivating original English stories tailored to their proficiency level in physical and digital formats, offering them a flexible and simple reading experience while enhancing their understanding and engagement with the content.”

“In 2023, we further strengthened our comprehensive product suite, significantly expanded our international presence, and earned increased market recognition with several prestigious industry accolades. We achieved all these milestones despite a highly volatile and challenging macroeconomic climate, which I believe is a testament to the caliber of our products, the effectiveness of our strategies, and the resilience of our team in overcoming diverse economic challenges. As we enter 2024, I am filled with anticipation for the continued success that lies ahead.”

Ms. Vivien Weiwei Wang, Director and Chief Financial Officer of iHuman, added, “Our fourth quarter results ended 2023 on a positive note despite a turbulent global economic environment. While our fourth quarter results saw a marginal decrease year-over-year, it reflected a normalization from the exceptional fourth quarter performance last year, which was caused by a heightened demand driven by more indoor activities during the pandemic. From a full year perspective in 2023, despite the fact that everybody shifted back to regular routines and spent less time at home after the pandemic, we still achieved satisfactory growth as both revenues and MAUs increased compared to fiscal year 2022. We are also proud to announce our eighth consecutive quarter of profitability, with annual net income reaching RMB180.9 million. This achievement marks our second straight year of profitability since our IPO in 2020 and demonstrates that we have successfully charted a path of healthy and sustainable growth. The momentum we have sustained in our business operations has further solidified our financial position, which not only bolsters our capacity for ongoing growth and innovation, but also enables us to enhance returns to our shareholders through issuing a special cash dividend of US$0.02 per ordinary share, or US$0.10 per ADS. The approval of the special dividend by our board of directors reflects our confidence in our long-term growth potential and strong balance sheet. Moving forward, we will continue to execute on our strategic priorities and maintain a growth-oriented approach to create even greater value for our users and shareholders.”

Fourth Quarter 2023 Unaudited Financial Results

Revenues

Revenues were RMB250.4 million (US$35.3 million), compared with RMB260.7 million in the same period last year.

Average total MAUs for the quarter were 25.38 million, an increase of 14.2% year-over-year from 22.22 million in the same period last year. The number of paying users[2] was 1.45 million.

Cost of Revenues

Cost of revenues was RMB72.2 million (US$10.2 million), a decrease of 9.4% from RMB79.7 million in the same period last year, primarily due to decreased channel costs.

Gross Profit and Gross Margin

Gross profit was RMB178.2 million (US$25.1 million), compared with RMB181.0 million in the same period last year. Gross margin was 71.2%, compared with 69.4% in the same period last year.

Operating Expenses

Total operating expenses were RMB156.4 million (US$22.0 million), an increase of 10.2% from RMB141.9 million in the same period last year.

Research and development expenses were RMB66.3 million (US$9.3 million), compared with RMB66.8 million in the same period last year.

Sales and marketing expenses were RMB64.5 million (US$9.1 million), an increase of 40.8% from RMB45.8 million in the same period last year, primarily due to increased strategic spending on promotional activities and brand enhancement.

General and administrative expenses were RMB25.5 million (US$3.6 million), a decrease of 12.7% from RMB29.3 million in the same period last year, primarily due to payroll related cost-savings and other decreased expenses as a result of the continued optimization of our operational efficiency.

Operating Income

Operating income was RMB21.9 million (US$3.1 million), compared with RMB39.1 million in the same period last year.

Net Income

Net income was RMB33.3 million (US$4.7 million), compared with RMB35.4 million in the same period last year.

Basic and diluted net income per ADS were RMB0.63 (US$0.09) and RMB0.61 (US$0.09), respectively, compared with RMB0.67 and RMB0.66 in the same period last year. Each ADS represents five Class A ordinary shares of the Company.

Deferred Revenue and Customer Advances

Deferred revenue and customer advances were RMB318.6 million (US$44.9 million) as of December 31, 2023, compared with RMB379.1 million as of December 31, 2022.

Cash and Cash Equivalents

Cash and cash equivalents were RMB1,213.8 million (US$171.0 million) as of December 31, 2023, compared with RMB1,050.0 million as of December 31, 2022.

Fiscal Year 2023 Unaudited Financial Results

Revenues

Revenues were RMB1,018.1 million (US$143.4 million), an increase of 3.3% from RMB985.5 million in fiscal year 2022.

Average total MAUs were 23.04 million, an increase of 16.0% year-over-year from 19.86 million in fiscal year 2022. The number of paying users for the year was 4.27 million.

Cost of Revenues

Cost of revenues was RMB296.9 million (US$41.8 million), compared with RMB294.3 million in fiscal year 2022.

Gross Profit and Gross Margin

Gross profit was RMB721.3 million (US$101.6 million), an increase of 4.4% from RMB691.2 million in fiscal year 2022. Gross margin was 70.8%, compared with 70.1% in fiscal year 2022.

Operating Expenses

Total operating expenses were RMB561.4 million (US$79.1 million), a decrease of 3.1% from RMB579.6 million in fiscal year 2022.

Research and development expenses were RMB257.5 million (US$36.3 million), a decrease of 17.8% from RMB313.5 million in fiscal year 2022, primarily due to cost savings in payroll-related expenses and outsourcing expenses.

Sales and marketing expenses were RMB199.5 million (US$28.1 million), an increase of 27.1% from RMB156.9 million in fiscal year 2022, primarily due to increased strategic spending on promotional activities and brand enhancement.

General and administrative expenses were RMB104.3 million (US$14.7 million), a decrease of 4.5% from RMB109.2 million in fiscal year 2022.

Operating Income

Operating income was RMB159.9 million (US$22.5 million), compared with RMB111.6 million in fiscal year 2022.

Net Income

Net income was RMB180.9 million (US$25.5 million), compared with RMB109.8 million in fiscal year 2022.

Basic and diluted net income per ADS were RMB3.43 (US$0.48) and RMB3.30 (US$0.46), respectively, compared with RMB2.06 and RMB2.03 in fiscal year 2022. Each ADS represents five Class A ordinary shares of the Company.

Special Cash Dividend

To deliver return of capital to shareholders, the Company’s board of directors (the “Board”) approved a special cash dividend of US$0.02 per ordinary share, or US$0.10 per ADS, to holders of ordinary shares and holders of ADSs as of the close of business on March 28, 2024 New York Time, payable in U.S. dollars. The aggregate amount of the special dividend will be approximately US$5.3 million. The payment date is expected to be on or around May 8, 2024 and May 15, 2024 for holders of ordinary shares and holders of ADSs, respectively.

Acquisition of IP Assets

The Company, through one of its consolidated affiliated entities, entered into an asset transfer agreement (the “Asset Transfer Agreement”) with Kunpeng, an animation production studio within the Perfect World Group (the “Transferors”). Pursuant to the Asset Transfer Agreement, the Company will acquire intellectual property assets related to “Cosmicrew” from Kunpeng, including copyrights and trademarks, among others, for a total consideration of RMB64.0 million. The consideration of the transaction was determined with the assistance of an independent third-party valuation firm. As the Transferors are related parties of the Company, the transaction has been approved by the Board and the audit committee of the Board, and is subject to customary closing conditions.

Exchange Rate Information

The U.S. dollar (US$) amounts disclosed in this press release, except for those transaction amounts that were actually settled in U.S. dollars, are presented solely for the convenience of the reader. The conversion of Renminbi (RMB) into US$ in this press release is based on the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of December 29, 2023, which was RMB7.0999 to US$1.00. The percentages stated in this press release are calculated based on the RMB amounts.

Non-GAAP Financial Measures

iHuman considers and uses non-GAAP financial measures, such as adjusted operating income, adjusted net income and adjusted diluted net income per ADS, 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”). iHuman defines adjusted operating income, adjusted net income and adjusted diluted net income per ADS as operating income, net income and diluted net income per ADS excluding share-based compensation expenses, respectively. Adjusted operating income, adjusted net income and adjusted diluted net income per ADS enable iHuman’s management to assess its operating results without considering the impact of share-based compensation expenses, which are non-cash charges. iHuman believes that these non-GAAP financial measures provide 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.

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, which possibly do not reflect all items of expense that affect our operations. Share-based compensation expenses have been and may continue to be incurred in our business and are not reflected in the presentation of the non-GAAP financial measures. In addition, the non-GAAP financial measures iHuman uses may differ from the non-GAAP measures used by other companies, including peer companies, and therefore their comparability may be limited. The presentation of these non-GAAP financial measures is not intended to be considered in isolation from or as a substitute for the financial information prepared and presented in accordance with GAAP.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates”  and similar statements. Statements that are not historical facts, including statements about iHuman’s beliefs and expectations, are forward-looking statements. Among other things, the description of the management’s quotations in this announcement contains forward-looking statements. iHuman may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials, and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: iHuman’s growth strategies; its future business development, financial condition and results of operations; its ability to continue to attract and retain users, convert non-paying users into paying users and increase the spending of paying users, the trends in, and size of, the market in which iHuman operates; its expectations regarding demand for, and market acceptance of, its products and services; its expectations regarding its relationships with business partners; general economic and business conditions; regulatory environment; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in iHuman’s filings with the SEC. All information provided in this press release is as of the date of this press release, and iHuman does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

About iHuman Inc.

iHuman Inc. is a leading provider of tech-powered, intellectual development products in China that is committed to making the child-upbringing experience easier for parents and transforming intellectual development into a fun journey for children. Benefiting from a deep legacy that combines over two decades of experience in the parenthood industry, superior original content, advanced high-tech innovation DNA and research & development capabilities with cutting-edge technologies, iHuman empowers parents with tools to make the child-upbringing experience more efficient. iHuman’s unique, fun and interactive product offerings stimulate children’s natural curiosity and exploration. The Company’s comprehensive suite of innovative and high-quality products include self-directed apps, interactive content and smart devices that cover a broad variety of areas to develop children’s abilities in speaking, critical thinking, independent reading and creativity, and foster their natural interest in traditional Chinese culture. Leveraging advanced technological capabilities, including 3D engines, AI/AR functionality, and big data analysis on children’s behavior & psychology, iHuman believes it will continue to provide superior experience that is efficient and relieving for parents, and effective and fun for children, in China and all over the world, through its integrated suite of tech-powered, intellectual development products.

For more information about iHuman, please visit https://ir.ihuman.com/. 

For investor and media enquiries, please contact:

iHuman Inc.
Mr. Justin Zhang
Investor Relations Director
Phone: +86 10 5780-6606
E-mail: ir@ihuman.com 

Christensen

In China
Ms. Alice Li
Phone: +86-10-5900-1548
E-mail: alice.li@christensencomms.com  

In the US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
E-mail: linda.bergkamp@christensencomms.com 

 

 

 

iHuman Inc.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“US$”)

except for number of shares, ADSs, per share and per ADS data)

December 31,

December 31,

December 31,

2022

2023

2023

RMB

RMB

US$

ASSETS

Current assets

Cash and cash equivalents 

1,049,999

1,213,767

170,956

Accounts receivable, net

79,614

60,832

8,568

Inventories, net

19,127

16,518

2,327

Amounts due from related parties

2,286

1,810

255

Prepayments and other current assets

102,765

89,511

12,607

Total current assets

1,253,791

1,382,438

194,713

Non-current assets

Property and equipment, net

9,205

6,169

869

Intangible assets, net

24,872

23,245

3,274

Operating lease right-of-use assets

12,782

3,648

514

Long-term investment

26,333

26,333

3,709

Other non-current assets

6,416

8,662

1,218

Total non-current assets

79,608

68,057

9,584

Total assets

1,333,399

1,450,495

204,297

LIABILITIES

Current liabilities

Accounts payable

24,206

22,139

3,118

Deferred revenue and customer advances

379,063

318,587

44,872

Amounts due to related parties

6,944

4,428

624

Accrued expenses and other current liabilities

144,717

143,677

20,236

Current operating lease liabilities

6,123

1,927

271

Total current liabilities

561,053

490,758

69,121

Non-current liabilities

Non-current operating lease liabilities

2,894

1,933

272

Total non-current liabilities

2,894

1,933

272

Total liabilities

563,947

492,691

69,393

SHAREHOLDERS’ EQUITY

Ordinary shares (par value of US$0.0001 per share,
   700,000,000 Class A shares authorized as of
   December 31, 2022 and December 31, 2023;
   125,122,382 Class A shares issued and 121,722,467
   outstanding as of December 31, 2022; 125,122,382
   Class A shares issued and 119,704,787 outstanding as
   of December 31, 2023; 200,000,000 Class B shares
   authorized, 144,000,000 Class B ordinary shares
   issued and outstanding as of December 31, 2022 and
   December 31, 2023; 100,000,000 shares
   (undesignated) authorized, nil shares (undesignated)
   issued and outstanding as of December 31, 2022 and
   December 31, 2023)

185

185

26

Additional paid-in capital

1,079,099

1,088,628

153,330

Treasury stock

(7,123)

(16,665)

(2,347)

Statutory reserves

7,967

8,164

1,150

Accumulated other comprehensive income

10,497

17,955

2,529

Accumulated deficit

(321,173)

(140,463)

(19,784)

Total shareholders’ equity

769,452

957,804

134,904

Total liabilities and shareholders’ equity

1,333,399

1,450,495

204,297

 

 

 

iHuman Inc.

 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS


(Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“US$”)

except for number of shares, ADSs, per share and per ADS data)

For the three months ended

For the year ended

December 31,

September 30,

December 31,

December 31,

December 31,

December 31,

December 31,

2022

2023

2023

2023

2022

2023

2023

RMB

RMB

RMB

US$

RMB

RMB

US$

Revenues

260,704

261,496

250,447

35,275

985,517

1,018,139

143,402

Cost of revenues

(79,707)

(74,871)

(72,201)

(10,169)

(294,343)

(296,868)

(41,813)

Gross profit

180,997

186,625

178,246

25,106

691,174

721,271

101,589

Operating expenses

Research and development expenses

(66,796)

(66,168)

(66,293)

(9,337)

(313,481)

(257,546)

(36,275)

Sales and marketing expenses

(45,811)

(53,994)

(64,511)

(9,086)

(156,916)

(199,504)

(28,100)

General and administrative expenses

(29,253)

(26,070)

(25,547)

(3,598)

(109,195)

(104,334)

(14,695)

Total operating expenses

(141,860)

(146,232)

(156,351)

(22,021)

(579,592)

(561,384)

(79,070)

Operating income

39,137

40,393

21,895

3,085

111,582

159,887

22,519

Other income, net

5,315

19,507

8,965

1,263

21,190

42,686

6,012

Income before income taxes

44,452

59,900

30,860

4,348

132,772

202,573

28,531

Income tax (expenses) / benefits

(9,019)

(7,984)

2,411

340

(22,953)

(21,666)

(3,052)

Net income

35,433

51,916

33,271

4,688

109,819

180,907

25,479

Net income per ADS:

   – Basic

0.67

0.98

0.63

0.09

2.06

3.43

0.48

   – Diluted

0.66

0.95

0.61

0.09

2.03

3.30

0.46

Weighted average number of ADSs:

   – Basic

53,205,925

52,747,426

52,740,067

52,740,067

53,307,044

52,810,587

52,810,587

   – Diluted

54,033,560

54,772,536

54,753,503

54,753,503

54,040,908

54,753,025

54,753,025

Total share-based compensation expenses included in:

Cost of revenues

168

67

64

9

348

299

42

Research and development expenses

2,564

1,160

1,115

157

6,377

4,055

571

Sales and marketing expenses

559

147

122

17

1,599

707

100

General and administrative expenses

1,757

1,105

817

115

4,720

4,374

616

 

 

 

 iHuman Inc.

UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS

(Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“US$”)

except for number of shares, ADSs, per share and per ADS data)

For the three months ended

For the year ended

December 31,

September 30,

December 31,

December 31,

December 31,

December 31,

December 31,

2022

2023

2023

2023

2022

2023

2023

RMB

RMB

RMB

US$

RMB

RMB

US$

Operating income

39,137

40,393

21,895

3,085

111,582

159,887

22,519

Share-based compensation expenses

5,048

2,479

2,118

298

13,044

9,435

1,329

Adjusted operating income

44,185

42,872

24,013

3,383

124,626

169,322

23,848

Net income

35,433

51,916

33,271

4,688

109,819

180,907

25,479

Share-based compensation expenses

5,048

2,479

2,118

298

13,044

9,435

1,329

Adjusted net income

40,481

54,395

35,389

4,986

122,863

190,342

26,808

Diluted net income per ADS

0.66

0.95

0.61

0.09

2.03

3.30

0.46

Impact of non-GAAP adjustments

0.09

0.04

0.04

0.00

0.24

0.18

0.03

Adjusted diluted net income per ADS

0.75

0.99

0.65

0.09

2.27

3.48

0.49

Weighted average number of ADSs – diluted

54,033,560

54,772,536

54,753,503

54,753,503

54,040,908

54,753,025

54,753,025

Weighted average number of ADSs – adjusted

54,033,560

54,772,536

54,753,503

54,753,503

54,040,908

54,753,025

54,753,025

 

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New GASA Research: 71% of Adults Surveyed Across 13 Asian Markets Encountered Scams, with Estimated Losses of US$136.5 Billion

Published

2 minutes ago

on

October 22, 2026

By

Research highlights a gap between confidence in recognizing scams and actual outcomes ahead of the Global Anti-Scam Summit Asia 2026

BANGKOK, Oct. 22, 2026 /PRNewswire/ — New research from the Global Anti-Scam Alliance (GASA), developed in collaboration with Gogolook, the developer of Whoscall, reveals the scale and impact of scams across Asia. Among adults surveyed in 13 Asian markets, 71% encountered a scam in the past year. The study estimates that consumers across those markets lost a combined US$136.5 billion to scams over the same period.

The State of Scams in Asia 2026 report, based on a survey of 17,460 adults, also identifies a gap between confidence and outcomes. While 66% of respondents said they were confident in their ability to recognize scams, 62% of those who encountered one interacted with it. Among respondents who interacted with a scam, 26% lost money.

The findings are being released ahead of the Global Anti-Scam Summit Asia 2026, taking place in Bangkok on 10–11 November. Following previous editions in Taiwan and Singapore, the summit will be held in Thailand for the first time, bringing together leaders from across sectors to strengthen the region’s response to evolving scams.

Phone calls and messages remain major points of exposure

Phone calls were the most common channel through which respondents encountered scams (56%), followed by text messages (50%) and instant messaging apps (40%). Shopping, investment and employment scams were the scam types respondents most commonly interacted with.

“Phone and text message scams remain a major challenge across Asia. In Thailand, Malaysia, Vietnam and Indonesia, more than six in ten respondents encountered scam calls. As scammers use AI-generated voices and increasingly convincing scripts, identifying suspicious numbers and warning users before they engage becomes even more important,” said Jeff Kuo, CEO of Gogolook. “Whoscall’s observations also suggest that scammers are adapting to tighter SIM registration and identity checks by using international and satellite numbers. That makes continued information sharing across markets essential.”

The harm extends beyond financial losses

The research estimates that consumers across the 13 markets lost US$136.5 billion to scams over the past 12 months. Among respondents who lost money, 51% said they had been scammed more than once.

The effects reached beyond the immediate financial loss. Among those who lost money, 72% reported an impact on their mental wellbeing, 77% experienced at least one emotional impact, and 58% experienced at least one financial impact affecting their everyday lives.

“One of the most striking findings is the gap between confidence and behavior. While 66% of respondents feel confident they can recognize scams, 62% of those who encountered one went on to interact with it. This shows why education is important but cannot be our only line of defense. We also need stronger safeguards that protect people throughout the scam journey.” said Brian D. Hanley, Director, Asia-Pacific Chapter, Global Anti-Scam Alliance (GASA).

Turning regional evidence into action

The findings will inform discussions at the Global Anti-Scam Summit Asia 2026, where representatives from government, law enforcement, financial services, technology, telecommunications, consumer protection and other sectors will explore ways to prevent and disrupt scams.

The research also points to public support for more proactive intervention. Across the markets surveyed, 71% supported allowing banks to block high-value transactions without a customer’s prior permission when they suspect a scam. Another 69% supported allowing telecom operators or messaging apps to block calls and messages they believe are malicious.

Reporting, however, does not always lead to recovery. While 85% of victims reported their scam experience, outcomes varied depending on where they reported it, and recovery and reimbursement remained limited.

Download the full State of Scams in Asia 2026 report here: https://gasa.org/knowledge-base/reports/state-of-scams-in-asia-2026

Registration for the Global Anti-Scam Summit Asia 2026 is open. For the programme and registration details, visit the summit website: https://gasa.org/global-anti-scam-summit-asia-2026

About the research

The State of Scams in Asia 2026 surveyed 17,460 adults across 13 Asian markets: China, Hong Kong, India, Indonesia, Japan, Malaysia, Pakistan, the Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam. Fieldwork was conducted between March 16 and April 13, 2026. The research was conducted by Opinium for the Global Anti-Scam Alliance and developed in collaboration with Gogolook, the developer of Whoscall.

About the Global Anti-Scam Alliance

The Global Anti-Scam Alliance (GASA) is a nonprofit organization bringing together policymakers, law enforcement, consumer authorities, NGOs, the financial sector, telecommunications operators, internet platforms, cybersecurity organizations and other stakeholders to share knowledge and develop solutions to protect consumers from scams.
GASA Website: https://gasa.org/

About Gogolook

Gogolook is a leading TrustTech company established in 2012. With “Build for Trust” as its core value, Gogolook has expanded its business from Asia to Europe and the Americas. As a foundation member of the Global Anti-Scam Alliance (GASA), Gogolook collaborates with law enforcement agencies and public-sector organizations, including the Taiwan National Police Agency, the Royal Thai Police, the Philippines Cybercrime Investigation and Coordinating Center, the Tokyo Metropolitan Police Department, and the Royal Malaysia Police. These partnerships support its commitment to building a scam-free environment.
Gogolook Website: https://www.gogolook.com/

About Whoscall

Whoscall, developed by Gogolook, is a caller ID and digital anti-scam app designed to protect users from scams across various channels, including phone calls, text messages, social media, and links. With over 100 million downloads globally, it features the most comprehensive database in East and Southeast Asia, covering more than 2.6 billion phone numbers.
Whoscall Website: https://web.whoscall.com/en

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SOURCE Gogolook

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Voqalize Says Voice Is Becoming the Default Way People Use Software

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October 22, 2026

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Voqalize is infrastructure for making software conversational. Existing applications, websites and AI agents can add a voice interface that listens, sees context, responds and acts, without being rebuilt.

BENGALURU, India, Oct. 22, 2026 /PRNewswire/ — Voqalize today said it gives existing applications, websites and AI agents a voice interface that can listen, see context, respond and act, without rebuilding the application. The company says teams can have it running in about an hour, either through Plug & Play, where Voqalize manages the AI agent and the voice experience, or through a developer integration into their own backend.

Imagine telling a clothing app: “I’ve got an outdoor wedding in Napa on the 20th. I need something under two hundred that goes with the shoes I bought in the spring.” The app pulls those shoes from your order history and lays out six options beside them. “Not the floral. Show me the second one in the navy.” It swaps the color and puts the shoes next to it. Then it adds: “You sent back a medium from this brand last time, so I picked the large. It arrives on the 17th.” You look it over and tap buy. That is the shift Voqalize is building for: voice not as input, but as an interface to software.

Fast facts

Apple’s iOS 27, released in September, lets Siri read what’s on a user’s screen and take actions inside appsGoogle reports that roughly one in five Gemini Live conversations now add a camera or screen share, with voice used in 63% of interactions across Gemini’s 1 billion-plus monthly usersA Censuswide survey of 700 business leaders and consumers for Voices, published Jan. 28, 2026, found that 55% of consumers say voice is their primary AI interface, while only 29% of companies have deployed customer-facing voice AI

Dictation Proved People Will Talk to Their Software

Dictation and notetaking apps are among the fastest-growing categories in consumer AI. Wispr, valued at $2 billion, and Granola, valued at $1.5 billion, have both built large user bases on a simple premise: people would rather talk than type, once the transcription is good enough. Wispr says the habit sticks. After six months, its average user writes 72% of their characters by voice.

The category is already moving past that original pitch. Wispr raised its most recent round on a case for going “beyond dictation.” Granola is expanding from a meeting notetaker into what it describes as a context layer for company AI. Superhuman acquired the notetaker Fathom in September. Talking to software stopped being the hard part. What people do with that voice next, and how directly it’s built into the products they already use, is where the category is headed.

“The next billion people coming online won’t type their way onto the internet. They’ll talk their way on, in whatever mix of languages they speak at home.” Sripathi Krishnan, Co-founder, Voqalize

Voice Is Moving From Typing Substitute to Default Interface

Voqalize’s argument is that voice is moving from a typing substitute into the default way people use an app: a running conversation, not a single dictated sentence, where the app listens, responds and can act on what’s on screen, with the interruptions and mid-task changes of direction that come with a real conversation. That mirrors a broader shift already underway on the phone line, where most current “voice AI” is still built around short, scripted calls that book an appointment or qualify a lead and then hang up. Apple’s iOS 27 and Google’s Gemini Live both point at the same shift: voice agents that can see a screen and act on it rather than just transcribe speech.

How Do You Add a Voice Interface to an Existing App?

An existing application or device connects through Voqalize rather than being rebuilt inside a new platform: Voqalize supplies the two-way voice channel and the ability to read and act on whatever is on screen. Businesses choose how much to hand over. With Plug & Play, Voqalize manages the AI agent and the voice experience. With a developer integration, businesses add Voqalize’s voice capabilities to their own backend while keeping control of their AI agent and workflows.

In some deployments, that voice is paired with a face on screen as well, so the person on the other end has something to talk to, not just a voice in the room. Sripathi Krishnan, the company’s co-founder, has argued that the harder part of that conversation may not be how fluently the agent talks, but how well it listens and knows when to stay quiet. Voqalize also works across Indic languages, because conversations in India often move between languages mid-sentence. A majority of Indian internet users already engage with content in Indic languages. Voice also makes software accessible across languages and across literacy and input constraints.

Building Toward Plug-and-Play Voice, Across Apps and Devices

Today, adding Voqalize to a product means connecting an existing application or device through a single interface, without rebuilding it inside a new platform. Voqalize says its near-term work is on extending that same one-connection model further, so that adding two-way voice to a new app, or to a device beyond the phone and the browser, becomes a plug-and-play step rather than a custom integration. That direction follows a broader move already visible in the industry: voice infrastructure is consolidating around shared frameworks instead of one-off builds, and AI tools are increasingly connecting to each other through standard connectors rather than custom code written for each pairing. Voqalize says it intends to be the layer that makes that same simplicity available for voice specifically, across whatever app or device a company is already building for.

“Soon people will judge an app by how well it understands them, the way you judge a shop by whether the person behind the counter gets what you mean.” Samkeet Jain, Co-founder, Voqalize

Voqalize is available today for teams adding a two-way voice interface to an existing product or AI agent. Early deployments include in-app assistants for mortgage servicing workflows, legal clause review, and authenticated banking support. Voqalize was also named one of the 30 products in YourStory’s Vibecode30 2026, a showcase of emerging AI-native builders in India.

About Voqalize Voqalize is a voice AI platform that makes it easy for businesses to add two-way voice conversations to their applications and AI agents across 60+ Global and Indic languages. With Plug & Play, Voqalize manages the AI agent and voice experience for you. With our developer integration, businesses can add Voqalize’s voice capabilities to their own backend while keeping control of their AI agent and workflows. Go ahead and build your next voice-enabled applications with us on voqalize.com.

Media Contact: Samkeet Jain / +91 8147514179 / Samkeet@voqalize.com 

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Sungrow Advances Integrated C&I Microgrid Solution to Southeast Asia

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October 22, 2026

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KUALA LUMPUR, Malaysia, Oct. 22, 2026 /PRNewswire/ — As Southeast Asia’s manufacturing sector expands, businesses face growing pressure from rising electricity costs, power supply disruptions and increasingly complex energy demands. Sungrow, a globally leading PV inverter and energy storage system provider, has launched the Integrated C&I Microgrid Solution for Southeast Asia, bringing together PV inverters, energy storage systems, EV chargers, microgrid controllers and cloud platforms. The solution helps businesses access more economical, reliable, and cleaner power.

End-to-End Cost Optimization, Improving Overall Benefits by 12%

For businesses seeking to reduce energy costs without compromising power reliability, system sizing and energy dispatch are critical. Sungrow’s Integrated C&I Microgrid Solution is engineered to make clean energy a more cost-competitive choice for businesses.

Optimized System Sizing: 8,760-hour simulations and intelligent algorithms evaluate tens of thousands of system configurations to optimize the capacity of PV, storage and diesel generation, helping avoid overinvestment and undersized systems.Intelligent Energy Dispatch: PV generation and load forecasts are updated every five minutes. Based on these forecasts and real-time electricity prices, AI dynamically optimizes the dispatch of multiple energy sources, including PV, energy storage and diesel generation, helping businesses meet their energy needs at a lower cost. This boosts overall economic benefits by 12% and shortens project payback periods by 1–2 years.Flexible Market Participation: Open interfaces and support for major electricity market protocols enable participation in diverse market mechanisms and unlock additional revenue streams.

Industry-First Five-Layer Protection for Reliable Power

For factories and commercial facilities, power outages can halt equipment, disrupt production and prolong recovery. Reliable power for critical loads is essential to keeping operations running.

Sungrow’s Integrated C&I Microgrid Solution features an industry-first five-layer protection framework, with tailored control strategies for different levels of grid disturbance. It can withstand three times overload for 10 seconds and severe voltage disturbances, helping protect critical loads from supply disruptions. With seamless grid-to-off-grid switching with no interruption to loads and whole-site black-start capability in just 3 minutes, the solution helps ensure a reliable power supply and rapid recovery during grid disruptions.

Support Throughout the Project Lifecycle

From system design and deployment to long-term operation, Sungrow simplifies the entire project lifecycle with full-stack in-house technologies and global service support.

Simplified Design and Deployment: One-stop system design, plug-and-play installation and one-click cloud connection streamline the journey from planning to commissioning.Smarter Operations: Coordinated PV, storage, EV charging, microgrid control and cloud management enable flexible energy dispatch, unified cloud-based management and automatic fault alerts.Global Service Support: With more than 520 service locations, 24/7 technical support and global spare parts centers, Sungrow helps keep projects running reliably over the long term.

Real-World Applications: Powering Energy Independence

“Sungrow’s Integrated C&I Microgrid Solution has been deployed across multiple locations in Southeast Asia, addressing diverse energy challenges for businesses,” said Huang Wanfeng, director of the Smart Energy Products Department at Sungrow.

In the Solomon Islands, the Solomon Resort Hotel Microgrid enables reliable off-grid hotel operations while helping reduce annual CO₂ emissions by around 1,000 tonnes and fuel costs by an estimated USD 600,000–700,000. Meanwhile, in Indonesia, Sungrow’s microgrid solution helps address power supply challenges in industrial parks, reducing reliance on diesel generation.

With proven experience across diverse applications, Sungrow is committed to helping businesses across Southeast Asia build more reliable, cost-efficient and resilient energy systems.

Contact:
Luly Wang
luly.wang@sungrow-hq.com 

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SOURCE Sungrow Power

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