Technology
Meta Reports Third Quarter 2024 Results
Published
2 years agoon
By
MENLO PARK, Calif., Oct. 30, 2024 /PRNewswire/ — Meta Platforms, Inc. (Nasdaq: META) today reported financial results for the quarter ended September 30, 2024.
“We had a good quarter driven by AI progress across our apps and business,” said Mark Zuckerberg, Meta founder and CEO. “We also have strong momentum with Meta AI, Llama adoption, and AI-powered glasses.”
Third Quarter 2024 Financial Highlights
Three Months Ended September 30,
% Change
In millions, except percentages and per share amounts
2024
2023
Revenue
$ 40,589
$ 34,146
19 %
Costs and expenses
23,239
20,398
14 %
Income from operations
$ 17,350
$ 13,748
26 %
Operating margin
43 %
40 %
Provision for income taxes
$ 2,134
$ 2,437
(12) %
Effective tax rate
12 %
17 %
Net income
$ 15,688
$ 11,583
35 %
Diluted earnings per share (EPS)
$ 6.03
$ 4.39
37 %
Third Quarter 2024 Operational and Other Financial Highlights
Family daily active people (DAP) – DAP was 3.29 billion on average for September 2024, an increase of 5% year-over-year.Ad impressions – Ad impressions delivered across our Family of Apps increased by 7% year-over-year.Average price per ad – Average price per ad increased by 11% year-over-year.Revenue – Total revenue was $40.59 billion, an increase of 19% year-over-year. Revenue on a constant currency basis would have increased 20% year-over-year.Costs and expenses – Total costs and expenses were $23.24 billion, an increase of 14% year-over-year.Capital expenditures – Capital expenditures, including principal payments on finance leases, were $9.20 billion.Capital return program – Share repurchases were $8.86 billion of our Class A common stock and total dividend and dividend equivalent payments were $1.26 billion.Cash, cash equivalents, and marketable securities – Cash, cash equivalents, and marketable securities were $70.90 billion as of September 30, 2024. Free cash flow was $15.52 billion.Long-term debt – Long-term debt was $28.82 billion as of September 30, 2024.Headcount – Headcount was 72,404 as of September 30, 2024, an increase of 9% year-over-year.
CFO Outlook Commentary
We expect fourth quarter 2024 total revenue to be in the range of $45-48 billion. Our guidance assumes foreign currency is approximately neutral to year-over-year total revenue growth, based on current exchange rates.
We expect full-year 2024 total expenses to be in the range of $96-98 billion, updated from our prior range of $96-99 billion. For Reality Labs, we continue to expect 2024 operating losses to increase meaningfully year-over-year due to our ongoing product development efforts and investments to further scale our ecosystem.
We anticipate our full-year 2024 capital expenditures will be in the range of $38-40 billion, updated from our prior range of $37-40 billion. We continue to expect significant capital expenditures growth in 2025. Given this, along with the back-end weighted nature of our 2024 capital expenditures, we expect a significant acceleration in infrastructure expense growth next year as we recognize higher growth in depreciation and operating expenses of our expanded infrastructure fleet.
Absent any changes to our tax landscape, we expect our fourth quarter 2024 tax rate to be in the low-teens.
In addition, we continue to monitor an active regulatory landscape, including the increasing legal and regulatory headwinds in the EU and the U.S. that could significantly impact our business and our financial results.
Webcast and Conference Call Information
Meta will host a conference call to discuss the results at 2:00 p.m. PT / 5:00 p.m. ET today. The live webcast of Meta’s earnings conference call can be accessed at the Meta Investor Relations website at investor.fb.com, along with the earnings press release, financial tables, and slide presentation.
Following the call, a replay will be available at the same website. Transcripts of conference calls with publishing equity research analysts held today will also be posted to the investor.fb.com website.
Disclosure Information
Meta uses the investor.fb.com and about.fb.com/news/ websites as well as Mark Zuckerberg’s Facebook Page (facebook.com/zuck), Instagram account (instagram.com/zuck) and Threads profile (threads.net/zuck) as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.
About Meta
Meta builds technologies that help people connect, find communities, and grow businesses. When Facebook launched in 2004, it changed the way people connect. Apps like Messenger, Instagram, and WhatsApp further empowered billions around the world. Now, Meta is moving beyond 2D screens toward immersive experiences like augmented and virtual reality to help build the next evolution in social technology.
Contacts
Investors:
Kenneth Dorell
investor@meta.com / investor.fb.com
Press:
Ryan Moore
press@meta.com / about.fb.com/news/
Forward-Looking Statements
This press release contains forward-looking statements regarding our future business plans and expectations. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors including: the impact of macroeconomic conditions on our business and financial results, including as a result of geopolitical events; our ability to retain or increase users and engagement levels; our reliance on advertising revenue; our dependency on data signals and mobile operating systems, networks, and standards that we do not control; changes to the content or application of third-party policies that impact our advertising practices; risks associated with new products and changes to existing products as well as other new business initiatives, including our artificial intelligence initiatives and metaverse efforts; our emphasis on community growth and engagement and the user experience over short-term financial results; maintaining and enhancing our brand and reputation; our ongoing privacy, safety, security, and content and advertising review and enforcement efforts; competition; risks associated with government actions that could restrict access to our products or impair our ability to sell advertising in certain countries; litigation and government inquiries; privacy, legislative, and regulatory concerns or developments; risks associated with acquisitions; security breaches; our ability to manage our scale and geographically-dispersed operations; and market conditions or other factors affecting the payment of dividends. These and other potential risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed under the caption “Risk Factors” in our Quarterly Report on Form 10-Q filed with the SEC on August 1, 2024, which is available on our Investor Relations website at investor.fb.com and on the SEC website at www.sec.gov. Additional information will also be set forth in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2024. In addition, please note that the date of this press release is October 30, 2024, and any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. We undertake no obligation to update these statements as a result of new information or future events.
For a discussion of limitations in the measurement of certain of our community metrics, see the section entitled “Limitations of Key Metrics and Other Data” in our most recent quarterly or annual report filed with the SEC.
Non-GAAP Financial Measures
To supplement our condensed consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles in the United States (GAAP), we use the following non-GAAP financial measures: revenue excluding foreign exchange effect, advertising revenue excluding foreign exchange effect, and free cash flow. The presentation of these financial measures is not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. Investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool. In addition, these measures may be different from non-GAAP financial measures used by other companies, limiting their usefulness for comparison purposes. We compensate for these limitations by providing specific information regarding the GAAP amounts excluded from these non-GAAP financial measures.
We believe these non-GAAP financial measures provide investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating our business.
Our non-GAAP financial measures are adjusted for the following items:
Foreign exchange effect on revenue. We translated revenue for the three and nine months ended September 30, 2024 using the prior year’s monthly exchange rates for our settlement or billing currencies other than the U.S. dollar, which we believe is a useful metric that facilitates comparison to our historical performance.
Purchases of property and equipment; Principal payments on finance leases. We subtract both purchases of property and equipment, net of proceeds and principal payments on finance leases in our calculation of free cash flow because we believe that these two items collectively represent the amount of property and equipment we need to procure to support our business, regardless of whether we procure such property or equipment with a finance lease. We believe that this methodology can provide useful supplemental information to help investors better understand underlying trends in our business. Free cash flow is not intended to represent our residual cash flow available for discretionary expenditures.
For more information on our non-GAAP financial measures and a reconciliation of GAAP to non-GAAP measures, please see the “Reconciliation of GAAP to Non-GAAP Results” table in this press release.
META PLATFORMS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In millions, except per share amounts)
(Unaudited)
Three Months Ended September 30,
Nine Months Ended September 30,
2024
2023
2024
2023
Revenue
$ 40,589
$ 34,146
$ 116,116
$ 94,791
Costs and expenses:
Cost of revenue
7,375
6,210
21,322
18,264
Research and development
11,177
9,241
31,693
27,966
Marketing and sales
2,822
2,877
8,107
9,075
General and administrative
1,865
2,070
8,978
9,119
Total costs and expenses
23,239
20,398
70,100
64,424
Income from operations
17,350
13,748
46,016
30,367
Interest and other income, net
472
272
1,095
254
Income before provision for income taxes
17,822
14,020
47,111
30,621
Provision for income taxes
2,134
2,437
5,589
5,540
Net income
$ 15,688
$ 11,583
$ 41,522
$ 25,081
Earnings per share:
Basic
$ 6.20
$ 4.50
$ 16.37
$ 9.73
Diluted
$ 6.03
$ 4.39
$ 15.88
$ 9.56
Weighted-average shares used to compute earnings per share:
Basic
2,529
2,576
2,536
2,577
Diluted
2,600
2,641
2,615
2,623
META PLATFORMS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions)
(Unaudited)
September 30, 2024
December 31, 2023
Assets
Current assets:
Cash and cash equivalents
$ 43,852
$ 41,862
Marketable securities
27,048
23,541
Accounts receivable, net
14,700
16,169
Prepaid expenses and other current assets
5,467
3,793
Total current assets
91,067
85,365
Non-marketable equity securities
6,071
6,141
Property and equipment, net
112,162
96,587
Operating lease right-of-use assets
14,812
13,294
Goodwill
20,654
20,654
Other assets
11,642
7,582
Total assets
$ 256,408
$ 229,623
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable
$ 7,656
$ 4,849
Operating lease liabilities, current
2,016
1,623
Accrued expenses and other current liabilities
23,658
25,488
Total current liabilities
33,330
31,960
Operating lease liabilities, non-current
18,208
17,226
Long-term debt
28,823
18,385
Long-term income taxes
9,171
7,514
Other liabilities
2,347
1,370
Total liabilities
91,879
76,455
Commitments and contingencies
Stockholders’ equity:
Common stock and additional paid-in capital
80,749
73,253
Accumulated other comprehensive loss
(1,192)
(2,155)
Retained earnings
84,972
82,070
Total stockholders’ equity
164,529
153,168
Total liabilities and stockholders’ equity
$ 256,408
$ 229,623
META PLATFORMS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2024
2023
2024
2023
Cash flows from operating activities
Net income
$ 15,688
$ 11,583
$ 41,522
$ 25,081
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
4,027
2,858
11,038
8,006
Share-based compensation
4,250
3,492
12,428
10,603
Deferred income taxes
(1,308)
3,049
(3,406)
1,292
Impairment charges for facilities consolidation, net
8
340
288
1,342
Other
(11)
75
(82)
278
Changes in assets and liabilities:
Accounts receivable
143
(678)
1,493
444
Prepaid expenses and other current assets
(184)
(907)
(168)
(141)
Other assets
(29)
(36)
(70)
31
Accounts payable
667
611
(195)
(543)
Accrued expenses and other current liabilities
572
87
(1,199)
5,355
Other liabilities
901
(72)
1,691
(39)
Net cash provided by operating activities
24,724
20,402
63,340
51,709
Cash flows from investing activities
Purchases of property and equipment, net
(8,258)
(6,496)
(22,831)
(19,453)
Purchases of marketable debt securities
(4,468)
(1,008)
(14,644)
(1,810)
Sales and maturities of marketable debt securities
4,114
1,475
11,972
3,825
Acquisitions of businesses and intangible assets
(132)
(38)
(261)
(565)
Other investing activities
124
(10)
112
(20)
Net cash used in investing activities
(8,620)
(6,077)
(25,652)
(18,023)
Cash flows from financing activities
Taxes paid related to net share settlement of equity awards
(3,544)
(2,087)
(9,913)
(4,789)
Repurchases of Class A common stock
(8,818)
(3,570)
(30,125)
(13,832)
Payments for dividends and dividend equivalents
(1,263)
—
(3,802)
—
Proceeds from issuance of long-term debt, net
10,432
—
10,432
8,455
Principal payments on finance leases
(944)
(267)
(1,558)
(751)
Other financing activities
(234)
49
(350)
(182)
Net cash used in financing activities
(4,371)
(5,875)
(35,316)
(11,099)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash
368
(354)
(72)
(283)
Net increase in cash, cash equivalents, and restricted cash
12,101
8,096
2,300
22,304
Cash, cash equivalents, and restricted cash at beginning of the period
33,026
29,804
42,827
15,596
Cash, cash equivalents, and restricted cash at end of the period
$ 45,127
$ 37,900
$ 45,127
$ 37,900
Reconciliation of cash, cash equivalents, and restricted cash to the
condensed consolidated balance sheets
Cash and cash equivalents
$ 43,852
$ 36,890
$ 43,852
$ 36,890
Restricted cash, included in prepaid expenses and other current assets
90
152
90
152
Restricted cash, included in other assets
1,185
858
1,185
858
Total cash, cash equivalents, and restricted cash
$ 45,127
$ 37,900
$ 45,127
$ 37,900
META PLATFORMS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2024
2023
2024
2023
Supplemental cash flow data
Cash paid for income taxes, net
$ 1,767
$ 509
$ 8,326
$ 2,016
Cash paid for interest, net of amounts capitalized
$ 111
$ 120
$ 356
$ 302
Non-cash investing and financing activities:
Property and equipment in accounts payable and accrued
expenses and other current liabilities
$ 7,217
$ 4,506
$ 7,217
$ 4,506
Acquisition of businesses and intangible assets in accrued
expenses and other current liabilities and other liabilities
$ 186
$ 182
$ 186
$ 182
Repurchases of Class A common stock in accrued expenses and
other current liabilities
$ —
$ 122
$ —
$ 122
Segment Results
We report our financial results for our two reportable segments: Family of Apps (FoA) and Reality Labs (RL). FoA includes Facebook, Instagram, Messenger, WhatsApp, and other services. RL includes our virtual, augmented, and mixed reality related consumer hardware, software, and content.
The following table presents our segment information of revenue and income (loss) from operations:
Segment Information
(In millions)
(Unaudited)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2024
2023
2024
2023
Revenue:
Advertising
$ 39,885
$ 33,643
$ 113,850
$ 93,242
Other revenue
434
293
1,203
724
Family of Apps
40,319
33,936
115,053
93,966
Reality Labs
270
210
1,063
825
Total revenue
$ 40,589
$ 34,146
$ 116,116
$ 94,791
Income (loss) from operations:
Family of Apps
$ 21,778
$ 17,490
$ 58,778
$ 41,841
Reality Labs
(4,428)
(3,742)
(12,762)
(11,474)
Total income from operations
$ 17,350
$ 13,748
$ 46,016
$ 30,367
Reconciliation of GAAP to Non-GAAP Results
(In millions, except percentages)
(Unaudited)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2024
2023
2024
2023
GAAP revenue
$ 40,589
$ 34,146
$ 116,116
$ 94,791
Foreign exchange effect on 2024 revenue using 2023 rates
544
809
Revenue excluding foreign exchange effect
$ 41,133
$ 116,925
GAAP revenue year-over-year change %
19 %
22 %
Revenue excluding foreign exchange effect year-over-year change %
20 %
23 %
GAAP advertising revenue
$ 39,885
$ 33,643
$ 113,850
$ 93,242
Foreign exchange effect on 2024 advertising revenue using 2023 rates
538
799
Advertising revenue excluding foreign exchange effect
$ 40,423
$ 114,649
GAAP advertising revenue year-over-year change %
19 %
22 %
Advertising revenue excluding foreign exchange effect year-over-year change %
20 %
23 %
Net cash provided by operating activities
$ 24,724
$ 20,402
$ 63,340
$ 51,709
Purchases of property and equipment, net
(8,258)
(6,496)
(22,831)
(19,453)
Principal payments on finance leases
(944)
(267)
(1,558)
(751)
Free cash flow
$ 15,522
$ 13,639
$ 38,951
$ 31,505
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SOURCE Meta
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BEIJING, July 19, 2026 /PRNewswire/ — On July 18, in Rongjiang County, Guizhou Province, China, the much-anticipated Guizhou Village Super League staged several thrilling grassroots football matches, accompanied by a one-of-a-kind football culture creative showcase.
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This initiative drew enthusiastic participation from youth across the globe, who engaged in online dialogues on sports culture and AI-driven creativity. Experts such as Ana Vasques, Executive President, IETI Artificial Intelligence & Creative Design branch; Giulio Cuomo, Professor of Video Production and AI at Accademia Italiana; and Dr. Zhang Youyu, Distinguished Research Fellow at Peking University, shared their insights based on the campaign’s outcomes. They emphasized that football has long transcended the realm of sport, evolving into a cultural symbol that embodies diverse civilizations. Meanwhile, the innovative application of artificial intelligence is opening new pathways for cross-cultural dialogue among global youth.
Video – https://www.youtube.com/watch?v=JhzZPHPk8IA
Photo – https://mma.prnewswire.com/media/3006669/20260719205937_131_59.jpg
View original content:https://www.prnewswire.co.uk/news-releases/china-europe-youth-exchange-campaign-when-fashion-meets-football–a-green-pitch-appointment-for-cross-cultural-dialogue-302829189.html
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Singtel Receives Four Frost & Sullivan 2026 Recognitions for Leadership in Enterprise Connectivity, Cybersecurity, and Digital Transformation
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The recognitions highlight Singtel’s leadership in secure connectivity, network transformation, IoT innovation, and cybersecurity, delivering customer value through intelligent digital infrastructure and AI-enabled enterprise services.
SAN ANTONIO, July 20, 2026 /CNW/ — Frost & Sullivan is pleased to honor Singtel with the 2026 Southeast Asia IoT Connectivity Service Provider Company of the Year, 2026 Singapore Network Transformation Customer Value Leadership, 2026 Singapore Cybersecurity Services Company of the Year, and 2026 Singapore SD-WAN and SASE Service Provider Company of the Year recognitions. These acknowledgements reflect Singtel’s outstanding achievements in delivering secure, intelligent, and scalable digital infrastructure that enables enterprises to modernize operations, simplify complexity, and accelerate digital transformation across Singapore and Southeast Asia. They underscore the company’s consistent leadership in strategy execution, customer value creation, and innovation across enterprise connectivity, cybersecurity, software-defined networking, and IoT connectivity services.
Frost & Sullivan evaluates companies through a rigorous benchmarking process across two core dimensions: strategy effectiveness and strategy execution. Singtel excelled in both, demonstrating its ability to anticipate evolving enterprise requirements while consistently translating long-term vision into measurable customer outcomes. Through platforms such as Singtel CUBΣ (CUBE) and its multidomestic IoT connectivity architecture, the company continues to unify networking, cybersecurity, automation, and AI-driven intelligence into integrated solutions that address the growing complexity of hybrid, multicloud, and connected environments. “Singtel has established itself as a benchmark for enterprise digital infrastructure by converging connectivity, cybersecurity, network intelligence, and IoT orchestration into a unified, customer-centric ecosystem. Its disciplined execution, platform-led innovation, and commitment to simplifying complex enterprise environments continue to strengthen operational resilience and deliver sustained value for organizations across the region,” said Kenny Yeo, Director at Frost & Sullivan.
Guided by a long-term strategy focused on digital innovation, intelligent infrastructure, and customer-centric transformation, Singtel has moved well-beyond traditional telecommunications to a trusted technology partner for enterprises navigating increasingly connected and data-driven environments. Its strategic investments in AI-enabled operations, cloud-native platforms, secure connectivity, and ecosystem partnerships enable organizations to modernize critical infrastructure while maintaining the flexibility to support future business growth.
The company’s strategic agility and sustained investment in integrated digital platforms have enabled it to scale innovative services across local, regional, and global enterprise environments. Innovation remains central to Singtel’s approach through solutions including the CUBΣ connected intelligence platform, multidomestic IoT connectivity powered by eSIM orchestration, managed cybersecurity services, AI-driven network automation, and network-as-a-service capabilities. These solutions simplify network and security management, strengthen cyber resilience, improve operational visibility, and provide enterprises with scalable, secure, and high-performing connectivity across cloud, edge, IoT, and hybrid infrastructures.
By streamlining service delivery through intelligent automation, centralized orchestration, proactive monitoring, and flexible managed and co-managed service models, Singtel continues to help organizations reduce operational complexity while improving service reliability and business agility. Its ability to integrate best-of-breed technologies in a unified operational framework, combined with strong regional network ownership and localized expertise, enables customers to confidently scale digital initiatives while maintaining security, governance, and operational excellence.
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Contact us: Start the discussion.
Contact:
Tarini Singh
E: Tarini.Singh@frost.com
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Yiwu, a city in east China’s Zhejiang province, is neither a coastal hub nor a border town. Yet it has built a trade network that reaches across the globe. Today, the city is home to more than 10,000 foreign-invested businesses and around 38,000 foreign merchants who live and work there.
People’s Daily reporters recently visited Yiwu to meet foreign entrepreneurs who have built successful businesses and settled down in the city. They shared stories of growing alongside Yiwu and becoming part of its remarkable transformation.
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In 2007, Tirera opened a foreign trade agency in Yiwu. In 2012, leveraging Yiwu’s comprehensive foreign trade pilot reform project, he established a wholly foreign-owned trading company. Today, his company ships 200 to 300 containers every month, dealing in more than 1,000 product categories and providing one-stop sourcing services for clients across Africa.
“Everyone is fascinated by Yiwu because it’s a place full of opportunities. Things that once seemed impossible can become reality here,” Tirera told People’s Daily after he finished receiving a trade delegation from Gabon.
Yemeni businessman Maged Mohammed Ali Al-Huraibi came to Yiwu alone in 2008 to pursue his entrepreneurial dream and founded a cosmetics trading company. In 2024, Yiwu launched a one-stop entrepreneurship service for foreign talent, offering factory leasing, policy consultation, and talent recruitment. Seizing the opportunity, Al-Huraibi invested in a cosmetics factory early that year, successfully transitioning from trader to manufacturer.
“Yiwu made my entrepreneurial dream come true. Now I want to bring cosmetics made in Yiwu to even more countries and regions around the world,” Al-Huraibi said.
Yiwu’s success is not simply about gathering products. More importantly, it comes from the city’s ability to create what the market needs — pioneering new approaches where none exist and forging new paths through continuous exploration.
Nepalese businessman Khadka Raj Kumar first came to Yiwu in 2002. In 2011, Yiwu pioneered a dual-track system for representative offices and foreign-invested business entities, addressing challenges related to residency, employment and business operations for foreign entrepreneurs. The following year, Kumar established his own trading company in Yiwu and later bought a home there.
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As Yiwu’s sixth-generation marketplace, the Yiwu Global Digital Trade Center marks the city’s transition from traditional trade to a digital trade ecosystem.
Pakistani businessman Sheikh Jamil, who has operated in Yiwu for 21 years, has witnessed this transformation firsthand. According to him, more and more business is now conducted online. With the help of AI, he can quickly generate product solutions tailored to different market demands. “I can do business with the whole world without leaving my office,” he said.
Yemeni businessman Hasan Mohammed entered Yiwu’s cosmetics business as a distributor a decade ago. In 2018, he registered his own cosmetics brand in Saudi Arabia. With its products registered in Saudi Arabia, manufactured in China and sold worldwide, his business model delivers both high-quality products and a strong competitive edge.
“Yiwu is more like an ecosystem where ideas can quickly become reality. It offers not only opportunities, but also the potential for continuous growth,” said Mohammed.
For Brazilian businesswoman Ana Garcia, Yiwu’s transformation from “Made in Yiwu” to “Created in Yiwu” has been fueled by broad support in branding, digital innovation and global expansion. She founded a business consultancy that helps overseas clients identify market opportunities and sourcing needs, connect with qualified suppliers, and manage every step of the supply chain — from product selection and quality inspection to logistics and customs clearance.
Yiwu belongs not only to China, but also to the world. Together with entrepreneurs from around the globe, the city will continue turning the impossible into the possible, further burnishing its reputation as the “world’s supermarket” and ensuring that products created in Yiwu benefit people in more countries.
View original content:https://www.prnewswire.com/apac/news-releases/foreign-entrepreneurs-find-business-opportunities-and-a-home-in-yiwu-302829158.html
SOURCE People’s Daily
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