Technology
Yunji Announces Third Quarter 2024 Unaudited Financial Results
Published
2 years agoon
By
HANGZHOU, China, Nov. 21, 2024 /PRNewswire/ — Yunji Inc. (“Yunji” or the “Company”) (NASDAQ: YJ), a leading membership-based social e-commerce platform, today announced its unaudited financial results for the third quarter ended September 30, 2024[1].
Third Quarter 2024 Highlights
Total revenues in the third quarter of 2024 were RMB86.6 million (US$12.4 million), compared with RMB145.1 million in the same period of 2023. The change was primarily due to soft consumer confidence and the Company’s continued strategy to refine its product selection across all categories and optimize its selection of suppliers and merchants, which had a near-term impact on sales.Repeat purchase rate[2] in the twelve months ended September 30, 2024 was 72.7%.
Mr. Shanglue Xiao, Chairman and Chief Executive Officer of Yunji, said, “Our strategic collaborations with premium suppliers across the country have strengthened our portfolio of healthy and organic food products. The positive customer feedback validates our commitment to quality and reinforces our position in the health-conscious market segment”.
“We continue to exercise prudent capital allocation and expense management practices, while optimizing operational efficiency to support sustainable growth and create long-term value for our stakeholders,” said Mr. Yeqing Cui, Senior Financial Director of Yunji.
Third Quarter 2024 Unaudited Financial Results
Total revenues were RMB86.6 million (US$12.4 million), compared with RMB145.1 million in the same period of 2023. The change was primarily due to soft consumer confidence and the Company’s continued strategy to refine its product selection across all categories and optimize its selection of suppliers and merchants, which had a near-term impact on sales.
Revenues from sales of merchandise were RMB70.0 million (US$10.0 million), compared with RMB114.1 million in the same period of 2023.Revenues from the marketplace business were RMB14.8 million (US$2.1 million), compared with RMB28.7 million in the same period of 2023.Other revenues were RMB1.8 million (US$0.3 million), compared with RMB2.3 million in the same period of 2023.
Total cost of revenues decreased by 49.6% to RMB39.8 million (US$5.7 million), or 46.0% of total revenues, from RMB78.9 million, or 54.4% of total revenues, in the same period of 2023. The decrease was in line with the change in merchandise sales, for which revenues and cost of revenues are recognized on a gross basis. Total cost of revenues, which mainly comprises the costs related to the sales of merchandise, decreased accordingly in the third quarter of 2024.
Total operating expenses decreased by 24.0% to RMB73.9 million (US$10.6 million) from RMB97.2 million in the same period of 2023.
Fulfillment expenses decreased by 32.8% to RMB17.2 million (US$2.4 million), or 19.9% of total revenues, from RMB25.6 million, or 17.6% of total revenues, in the same period of 2023. The decrease was primarily due to (i) reduced warehousing and logistics expenses due to lower merchandise sales, and (ii) reduced personnel costs as a result of staffing structure refinements.Sales and marketing expenses decreased by 34.8% to RMB19.3 million (US$2.8 million), or 22.3% of total revenues, from RMB29.6 million, or 20.4% of total revenues, in the same period of 2023. The decrease was mainly due to the reduction in member management fees.Technology and content expenses decreased by 16.5% to RMB11.6 million (US$1.7 million), or 13.4% of total revenues, from RMB13.9 million, or 9.6% of total revenues, in the same period of 2023. The decrease was mainly due to the reduction in personnel costs as a result of staffing structure refinements.General and administrative expenses decreased by 8.2% to RMB25.8 million (US$3.7 million), or 29.8% of total revenues, from RMB28.1 million, or 19.4% of total revenues, in the same period of 2023. The decrease was mainly due to the reduction in professional service expenses, partially offset by an increase in an allowance for credit losses.
Loss from operations was RMB26.2 million (US$3.7 million), compared with RMB30.3 million in the same period of 2023.
Financial loss, net was RMB5.7 million (US$0.8 million), compared with financial loss, net of RMB1.9 million in the same period of 2023, primarily due to a decrease in the fair value changes of equity securities investments.
Net loss was RMB30.0 million (US$4.3 million), compared with RMB34.8 million in the same period of 2023.
Adjusted net loss (non-GAAP)[3] was RMB29.5 million (US$4.2 million), compared with RMB34.0 million in the same period of 2023.
Basic and diluted net loss per share attributable to ordinary shareholders were both RMB0.02, compared with RMB0.02 in the same period of 2023.
Use of Non-GAAP Financial Measures
In evaluating the business, the Company considers and uses adjusted net loss as a supplemental measure to review and assess operating performance. The presentation of this non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines adjusted net loss as net loss excluding share-based compensation.
The Company presents adjusted net loss because it is used by management to evaluate operating performance and formulate business plans. Adjusted net loss enables management to assess operating performance without considering the impact of share-based compensation recorded under ASC 718, “Compensation-Stock Compensation.” The Company also believes that the use of this non-GAAP measure facilitates investors’ assessment of operating performance.
This non-GAAP financial measure is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. The non-GAAP financial measure has limitations as an analytical tool. One of the key limitations of using adjusted net loss is that it does not reflect all items of income and expense that affect the Company’s operations. Share-based compensation has been and may continue to be incurred in Yunji’s business and is not reflected in the presentation of adjusted net loss. Further, this non-GAAP measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore its comparability may be limited.
The Company compensates for these limitations by reconciling the non-GAAP financial measure to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating performance. Yunji encourages investors and others to review its financial information in its entirety and not rely on a single financial measure.
For more information on the non-GAAP financial measures, please see the table captioned “Reconciliation of Non-GAAP Measures to the Most Directly Comparable Financial Measures” set forth at the end of this press release.
Conference Call
The Company will host a conference call on Thursday, November 21, 2024, at 6:30 A.M. Eastern Time or 7:30 P.M. Beijing/Hong Kong Time to discuss its earnings. Listeners may access the call by dialing the following numbers:
International:
1-412-902-4272
United States Toll Free:
1-888-346-8982
Mainland China Toll Free:
4001-201203
Hong Kong Toll Free:
800-905945
Conference ID:
Yunji Inc.
A telephone replay of the call will be available after the conclusion of the conference call for one week.
Dial-in numbers for the replay are as follows:
United States Toll Free
1-877-344-7529
International
1-412-317-0088
Replay Access Code
1733849
Safe Harbor Statements
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continue” or other similar expressions. Among other things, the quotations from management in this announcement, as well as Yunji’s strategic and operational plans, contain forward-looking statements. Yunji 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. Statements that are not historical facts, including but not limited to statements about Yunji’s beliefs and expectations, are forward-looking statements. 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: Yunji’s growth strategies; its future business development, results of operations and financial condition; its ability to understand buyer needs and provide products and services to attract and retain buyers; its ability to maintain and enhance the recognition and reputation of its brand; its ability to rely on merchants and third-party logistics service providers to provide delivery services to buyers; its ability to maintain and improve quality control policies and measures; its ability to establish and maintain relationships with merchants; trends and competition in China’s e-commerce market; changes in its revenues and certain cost or expense items; the expected growth of China’s e-commerce market; PRC governmental policies and regulations relating to Yunji’s industry, and general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Yunji’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Yunji undertakes no obligation to update any forward-looking statement, except as required under applicable law.
About Yunji Inc.
Yunji Inc. is a leading social e-commerce platform in China that has pioneered a unique, membership-based model to leverage the power of social interactions. The Company’s e-commerce platform offers high-quality products at attractive prices across a wide variety of categories catering to the day-to-day needs of Chinese consumers. In addition, the Company uses advanced technologies including big data and artificial intelligence to optimize user experience and incentivize members to promote the platform as well as share products with their social contacts. Through deliberate product curation, centralized merchandise sourcing, and efficient supply chain management, Yunji has established itself as a trustworthy e-commerce platform with high-quality products and exclusive membership benefits, including discounted prices.
For more information, please visit https://investor.yunjiglobal.com/
Investor Relations Contact
Yunji Inc.
Investor Relations
Email: Yunji.IR@icrinc.com
Phone: +1 (646) 224-6957
ICR, LLC
Robin Yang
Email: Yunji.IR@icrinc.com
Phone: +1 (646) 224-6957
YUNJI INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(All amounts in thousands, except for share and per share data, unless otherwise noted)
As of
December 31,
2023
September 30,
2024
RMB
RMB
US$
ASSETS
Current Assets
Cash and cash equivalents
517,542
244,061
34,778
Restricted cash
27,169
24,313
3,465
Short-term investments
7,195
–
–
Accounts receivable, net (Allowance for
credit losses of RMB35,159 and
RMB33,786, respectively)
64,312
56,331
8,027
Advance to suppliers
14,058
12,114
1,726
Inventories, net
42,716
28,387
4,045
Amounts due from related parties
1,361
942
134
Prepaid expenses and other current assets[4]
(Allowance for credit losses of RMB13,017
and RMB25,117, respectively)
134,247
138,722
19,768
Total current assets
808,600
504,870
71,943
Non-current assets
Property and equipment, net
175,451
183,185
26,104
Land use rights, net[5]
–
175,541
25,014
Long-term investments
364,159
372,123
53,027
Operating lease right-of-use assets, net
16,507
15,035
2,142
Other non-current assets (Allowance for
credit losses of RMB22,213 and
RMB17,262, respectively)
189,067
161,954
23,078
Total non-current assets
745,184
907,838
129,365
Total assets
1,553,784
1,412,708
201,308
YUNJI INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(All amounts in thousands, except for share and per share data, unless otherwise noted)
As of
December 31,
2023
September 30,
2024
RMB
RMB
US$
LIABILITIES AND SHAREHOLDERS’
EQUITY
Current Liabilities
Accounts payable
96,782
61,308
8,736
Deferred revenue
9,412
9,623
1,371
Incentive payables to members[6]
124,889
72,964
10,395
Member management fees payable
4,373
600
86
Other payable and accrued liabilities
109,200
101,354
14,443
Amounts due to related parties
3,535
2,257
322
Operating lease liabilities – current
3,376
3,849
549
Total current liabilities
351,567
251,955
35,902
Non-current liabilities
Operating lease liabilities
11,122
10,083
1,437
Total non-current liabilities
11,122
10,083
1,437
Total Liabilities
362,689
262,038
37,339
YUNJI INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(All amounts in thousands, except for share and per share data, unless otherwise noted)
As of
December 31,
2023
September 30,
2024
RMB
RMB
US$
Shareholders’ equity
Ordinary shares
70
70
10
Less: Treasury stock
(116,108)
(116,045)
(16,536)
Additional paid-in capital
7,328,680
7,330,464
1,044,583
Statutory reserve
16,254
16,254
2,316
Accumulated other comprehensive income
85,291
81,122
11,560
Accumulated deficit
(6,123,971)
(6,162,055)
(878,086)
Total Yunji Inc. shareholders’ equity
1,190,216
1,149,810
163,847
Non-controlling interests
879
860
122
Total shareholders’ equity
1,191,095
1,150,670
163,969
Total liabilities and shareholders’ equity
1,553,784
1,412,708
201,308
YUNJI INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(All amounts in thousands, except for share and per share data, unless otherwise noted)
For the Three Months Ended
For the Nine Months Ended
September 30,
2023
September 30,
2024
September 30,
2023
September 30,
2024
RMB
RMB
US$
RMB
RMB
US$
Revenues:
Sales of merchandise, net
114,132
70,011
9,976
388,321
255,036
36,342
Marketplace revenue
28,703
14,848
2,116
95,929
60,015
8,552
Other revenues
2,354
1,832
261
6,812
5,477
780
Total revenues
145,189
86,691
12,353
491,062
320,528
45,674
Operating cost and expenses:
Cost of revenues
(78,868)
(39,760)
(5,666)
(253,161)
(161,071)
(22,952)
Fulfilment
(25,621)
(17,186)
(2,449)
(82,627)
(59,754)
(8,515)
Sales and marketing
(29,608)
(19,304)
(2,751)
(92,561)
(66,792)
(9,518)
Technology and content
(13,852)
(11,604)
(1,654)
(41,457)
(37,135)
(5,292)
General and administrative
(28,058)
(25,795)
(3,676)
(76,474)
(59,316)
(8,453)
Total operating cost and expenses
(176,007)
(113,649)
(16,196)
(546,280)
(384,068)
(54,730)
Other operating income
541
733
104
14,118
4,894
697
Loss from operations
(30,277)
(26,225)
(3,739)
(41,100)
(58,646)
(8,359)
Financial (loss)/income, net
(1,884)
(5,682)
(810)
(36,799)
19,911
2,837
Foreign exchange (loss)/income, net
(88)
2,405
343
(7,466)
4,735
675
Other non-operating income/(loss),
net
628
509
73
(2,436)
627
89
Loss before income tax expense, and
equity in loss of affiliates, net of tax
(31,621)
(28,993)
(4,133)
(87,801)
(33,373)
(4,758)
Income tax expense
(1,116)
(348)
(49)
(6,523)
(1,641)
(234)
Equity in loss of affiliates, net of tax
(2,059)
(704)
(100)
(4,945)
(3,063)
(437)
Net loss
(34,796)
(30,045)
(4,282)
(99,269)
(38,077)
(5,429)
Less: net loss attributable to non-
controlling interests shareholders
(1)
(19)
(3)
(2)
(20)
(3)
Net loss attributable to YUNJI INC.
(34,795)
(30,026)
(4,279)
(99,267)
(38,057)
(5,426)
YUNJI INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (CONTINUED)
(All amounts in thousands, except for share and per share data, unless otherwise noted)
For the Three Months Ended
For the Nine Months Ended
September 30,
2023
September 30,
2024
September 30,
2023
September 30,
2024
RMB
RMB
US$
RMB
RMB
US$
Net loss attributable to ordinary
shareholders
(34,795)
(30,026)
(4,279)
(99,267)
(38,057)
(5,426)
Net loss
(34,796)
(30,045)
(4,282)
(99,269)
(38,077)
(5,429)
Other comprehensive income/(loss)
Foreign currency translation
adjustment
3,424
(8,290)
(1,181)
32,480
(4,169)
(594)
Total comprehensive loss
(31,372)
(38,335)
(5,463)
(66,789)
(42,246)
(6,023)
Less: total comprehensive loss
attributable to non-controlling
interests shareholders
(1)
(19)
(3)
(2)
(20)
(3)
Total comprehensive loss
attributable to YUNJI INC.
(31,371)
(38,316)
(5,460)
(66,787)
(42,226)
(6,020)
Net loss attributable to ordinary
shareholders
(34,795)
(30,026)
(4,279)
(99,267)
(38,057)
(5,426)
Weighted average number of
ordinary shares used in computing
net loss per share, basic and diluted
1,966,929,108
1,967,086,032
1,967,086,032
1,972,493,551
1,967,062,401
1,967,062,401
Net loss per share attributable to
ordinary shareholders
Basic
(0.02)
(0.02)
–
(0.05)
(0.02)
–
Diluted
(0.02)
(0.02)
–
(0.05)
(0.02)
–
YUNJI INC.
NOTES TO UNAUDITED FINANCIAL INFORMATION
(All amounts in thousands, except for share and per share data, unless otherwise noted)
For the Three Months Ended
For the Nine Months Ended
September 30,
2023
September 30,
2024
September 30,
2023
September 30,
2024
RMB
RMB
US$
RMB
RMB
US$
Share-based compensation expenses included in:
Technology and content
610
278
40
1,153
1,101
157
General and administrative
63
162
23
126
610
87
Fulfillment
76
21
3
(2,571)
57
8
Sales and marketing
95
35
5
(474)
79
11
Total
844
496
71
(1,766)
1,847
263
YUNJI INC.
RECONCILIATION OF NON-GAAP MEASURES TO THE MOST DIRECTLY COMPARABLE
FINANCIAL MEASURES
(All amounts in thousands, except for share and per share data, unless otherwise noted)
For the Three Months Ended
For the Nine Months Ended
September 30,
2023
September 30,
2024
September 30,
2023
September 30,
2024
RMB
RMB
US$
RMB
RMB
US$
Reconciliation of Net Loss to Adjusted Net Loss:
Net loss
(34,796)
(30,045)
(4,282)
(99,269)
(38,077)
(5,429)
Add: Share-based compensation
844
496
71
(1,766)
1,847
263
Adjusted net loss
(33,952)
(29,549)
(4,211)
(101,035)
(36,230)
(5,166)
1. This announcement contains translations of certain Renminbi (RMB) amounts into U.S. dollars (US$) at a specified rate solely for the convenience of the reader. Unless otherwise noted, the translation of RMB into US$ has been made at RMB7.0176 to US$1.00, the exchange rate in effect as of September 30, 2024 as set forth in the H.10 statistical release of The Board of Governors of the Federal Reserve System.
2. “Repeat purchase rate” in a given period is calculated as the number of transacting members who purchased not less than twice divided by the total number of transacting members during such period. “Transacting member” in a given period refers to a member who successfully promotes Yunji’s products to generate at least one order or places at least one order on Yunji’s platform, regardless of whether any product in such order is ultimately sold or delivered or whether any product in such order is returned.
3. Adjusted net loss is a non-GAAP financial measure, which is defined as net loss excluding share-based compensation expense. See “Reconciliation of Non-GAAP Measures to the Most Directly Comparable Financial Measures” set forth at the end of this press release.
4. As of September 30, 2024, Short-term loan receivables of amount RMB101,652 were included in the prepaid expenses and other current assets balance, which represent the principal and interest to be collected on loans provided by the Group to third-party companies.
5. In June 2024, the Company won the bid for a parcel of land located in Xiaoshan District, Hangzhou, China, covering approximately 10 thousand square meters (the “Hangzhou Land Parcel”) and entered into an agreement with the local government to acquire the land use right of the Hangzhou Land Parcel for an aggregate consideration of approximately RMB171.5 million. In July 2024, the Company obtained the certificate of the land use right and carried the land use right at cost less accumulated amortization and impairment losses, if any. The Company intends to construct a new office building on the Hangzhou Land Parcel to use it as its new headquarters and also lease offices to external parties. The total amount for the land acquisition and office building construction is expected to be approximately RMB600.0 million. The Company intends to fund the land acquisition and building construction through cash on hand and bank financing.
6. As of September 30, 2024, the decrease in incentive payables was mainly due to derecognition of long-aged payables to inactive members.
7. The Group, as one of the five co-defendants, was involved in an on-going legal proceeding that arose in the ordinary course of business (the “Case”). The plaintiff sought monetary damages jointly and severally from all co-defendants and the amount involved was approximately RMB23.1 million. On September 30, 2024, the Guangzhou Intermediate People’s Court concluded the appeal trial of the Case. The court’s ruling determined that the Group bore no additional liabilities beyond the outstanding accounts, including interests and fees, payable to the plaintiff. As of the date of this earnings release, the payment has been settled in full.
View original content:https://www.prnewswire.com/news-releases/yunji-announces-third-quarter-2024-unaudited-financial-results-302312741.html
SOURCE Yunji Inc.
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Published
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July 24, 2026By
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About Huawei Cloud Thailand
Huawei Cloud Thailand is a leading cloud service provider committed to accelerating Thailand’s digital transformation under the mission of “In Thailand, For Thailand.” According to the latest report from Gartner, Huawei Cloud is ranked No.3 by revenue in Thailand’s Infrastructure as a Service (IaaS) market, solidifying its position as one of the most trusted and fastest-growing international cloud providers in the country.
As the first international public cloud vendor to establish local data centers in Thailand, Huawei Cloud now operates three Availability Zones, ensuring high reliability and low-latency connectivity for local users. Leveraging Huawei’s 30-plus years of expertise in ICT infrastructure, it integrates cutting-edge Artificial Intelligence (AI), Cloud-Native 2.0, and Big Data technologies to empower over 40 government agencies and thousands of enterprises across the Kingdom. By building a robust digital ecosystem and fostering local talent, Huawei Cloud aims to drive Thailand’s “Digital Economy” forward, bringing cloud and intelligence to every corner of the country for a fully connected, intelligent future.
For more information, please visit Huawei Cloud Thailand online at
https://www.huaweicloud.com/intl/th-th/ or follow us on:
https://www.facebook.com/HuaweiCloudTH
https://www.youtube.com/@HuaweiCloudAPAC
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SOURCE Huawei Cloud Thailand
Technology
Huawei Cloud Launches Agentic Infrastructure and CodeArts Agent OBT in Thailand, Accelerating Enterprise AI Innovation
Published
11 minutes agoon
July 24, 2026By
BANGKOK, July 24, 2026 /PRNewswire/ — Huawei Cloud hosted Huawei Cloud Summit Thailand 2026, bringing together leaders from government, business, industry partners, and the technology community to exchange views on how cloud and AI can support Thailand’s digital economy. During the event, Huawei Cloud announced “Huawei Cloud Agentic Infrastructure: Now Available for Thailand” and officially launched Huawei Cloud CodeArts Agent Open Beta Testing (OBT) in the country.
Mr. Sunny Shang, President of Huawei Cloud APAC, outlined the company’s commitment to working with customers and partners to build an AI-driven digital future for Thailand. Regarding the government’s direction, the Ministry of Digital Economy and Society emphasized the acceleration of digital transformation through national AI policies, public-sector adoption, and stronger public-private collaboration.
The public-sector highlighted how AI can improve government operations and make public services faster and more convenient. NECTEC also presented a Government AI case study covering the development of AI infrastructure and platforms, as well as AI chatbots and intelligent assistants designed to support government officials and improve services for citizens.
Building the Foundation for the Agentic AI Era
Mr. Surasak Wanichwatphibun, CTO of Huawei Cloud Thailand said Huawei Cloud will continue to strengthen its technological capabilities and build a robust computing infrastructure to drive AI innovation across enterprises.
At the center of the announcement is Agentic Infra, a new infrastructure designed specifically for developing and deploying AI agents. It supports efficient token generation, unified scheduling of general-purpose and AI computing resources, continuous learning, and secure and autonomous agent operations.
Mr. Surasak introduced four new features under Agentic Infra:
UnifiedBus-based AI Cluster Service (AICS), which supports highly efficient token generationAgentic Memory Storage Service (AMS), which delivers PB-scale memory storage to address a key bottleneck in agent memory, enabling long-horizon tasks and facilitating continuous learning.AgentSphere, which offers a secure and autonomous runtime environment for AI agentsCCE VolcanoNext, which enables unified scheduling of general-purpose and AI computing resources
CodeArts Agent OBT Launches in Thailand
Another major highlight was the launch of Huawei Cloud CodeArts Agent OBT in Thailand, giving local developers and enterprises an opportunity to experience Huawei Cloud’s coding agent and provide feedback before its wider release.
CodeArts Agent combines IDE functionality, autonomous development capabilities, and coding models. It supports project-level code generation, code completion, R&D knowledge Q&A, and unit test case generation.
The platform also applies Specification-Driven Development (SDD) to help development teams maintain code quality from the requirements stage through to final delivery.
It is worth mentioning that this release also introduces the Agent Team mode, which can automatically form a development team, enabling multiple agents to collaborate concurrently and execute tasks simultaneously.
By reducing repetitive tasks, CodeArts Agent can help developers work more efficiently and allow organizations to bring digital products and services to market faster.
The OBT launch forms part of Huawei Cloud’s efforts to support Thailand’s developer community and make AI-assisted software development more accessible to organizations of different sizes.
Strengthening Security for Enterprise AI
Mr. Surasak also emphasized security, stability, and quality as key priorities for enterprise AI adoption. As cyberattacks become increasingly automated and AI-driven, Huawei Cloud has upgraded its security services in two areas: protecting AI systems and using AI to strengthen cyber defense.
Its model lifecycle security solution covers AI infrastructure, training data, model inference, and agent applications.
For enterprises concerned about data sovereignty and privacy, Huawei Cloud provides dedicated security zones that allow customers to independently manage their encryption keys while preventing platform administrators from accessing customer data. Software-hardware integration and hardware acceleration are also used to maintain encryption performance without compromising service efficiency. Huawei Cloud has also introduced Data Capsule technology, which ensures that data can only be used within authorized environments and automatically becomes invalid if moved outside a designated security zone.
Showcasing AI Use Cases Across Industries
Huawei Cloud Summit Thailand 2026 also featured AI and cloud use cases from organizations in Thailand. These included the development of AI platforms and intelligent assistants for the public sector, the use of AI coding and large language models in banking, and AI-powered learning and skills development platforms for the HR sector.
Huawei Cloud and its partners also shared how ecosystem collaboration can help solve industry challenges and accelerate AI adoption among enterprises.
About Huawei Cloud Thailand
Huawei Cloud Thailand is a leading cloud service provider committed to accelerating Thailand’s digital transformation under the mission of “In Thailand, For Thailand.” According to the latest report from Gartner, Huawei Cloud is ranked No.3 by revenue in Thailand’s Infrastructure as a Service (IaaS) market, solidifying its position as one of the most trusted and fastest-growing international cloud providers in the country.
As the first international public cloud vendor to establish local data centers in Thailand, Huawei Cloud now operates three Availability Zones, ensuring high reliability and low-latency connectivity for local users. Leveraging Huawei’s 30-plus years of expertise in ICT infrastructure, it integrates cutting-edge Artificial Intelligence (AI), Cloud-Native 2.0, and Big Data technologies to empower over 40 government agencies and thousands of enterprises across the Kingdom. By building a robust digital ecosystem and fostering local talent, Huawei Cloud aims to drive Thailand’s “Digital Economy” forward, bringing cloud and intelligence to every corner of the country for a fully connected, intelligent future.
For more information, please visit Huawei Cloud Thailand online at
https://www.huaweicloud.com/intl/th-th/ or follow us on:
https://www.facebook.com/HuaweiCloudTH
https://www.youtube.com/@HuaweiCloudAPAC
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SOURCE Huawei Cloud Thailand
STOCKHOLM, July 24, 2026 /PRNewswire/ —
Continued strong growth and record operating margin (EBITA %)
President and CEO Aritz Larrea comments:
“We delivered another very strong quarter reflecting the continued execution of our strategy and the strength of our diversified model. Revenue reached SEK 7.9 billion with a currency-adjusted growth of 9.1 percent. Both segment USA and segment Europe and Latin America contributed to the performance driven by continued strength in our International and Automated Solutions business lines. Operating income (EBITA) exceeded 1 billion SEK and we increased our EBITA margin by more than 1 percentage point year–over–year to 14.0 percent.
Our financial position remains strong. Supported by robust cash flow generation and a solid balance sheet, we continue to invest in long-term growth opportunities, pursue value-creating acquisitions, and maintain our commitment to delivering attractive returns to shareholders.”
Quarter 2, April – June 2026
Revenue for the quarter was SEK 7,891 million (7,407). The currency-adjusted growth was 9.1 percent (4.8), of which organic growth was 6.7 percent (3.8) and acquisitions contributed 2.5 percent (1.0). Including the exchange rate effect, the total growth was 6.5 percent (-3.0).Operating income (EBITA) 1) for the quarter was SEK 1,102 million (944) and the operating margin (EBITA) increased to 14.0 percent (12.7).Operating income (EBIT) before items affecting comparability for the quarter was SEK 1,062 million (882) and operating margin (EBIT) before items affecting comparability was 13.5 percent (11.9).Income before taxes for the quarter was SEK 869 million (664) and profit for the period was SEK 608 million (478).Basic earnings per share for the quarter were SEK 9.09 (7.01) and diluted earnings per share were SEK 9.06 (6.99).Cash flow from operating activities 2) was SEK 683 million (550) in the quarter. The cash flow from operating activities for the rolling twelve months was 95 percent (105) of operating income (EBITA).Net debt in relation to EBITDA was 1.60 times (1.75) in the quarter.Loomis expanded its presence in Latin America through the acquisition of Transportadora del Interior in Argentina and the announced acquisition of Hermes Transportes Blindados in Peru.
1) Earnings Before Interest, Taxes, Amortization of acquisition-related intangible fixed assets, Acquisition-related costs and revenue and items affecting comparability.
2) Cash flow from operating activities is exclusive of impact from IFRS 16.
Report presentation today at 10.30 a.m. (CEST)
The report will be presented in a webcast conference today at 10.30 am (CEST) by President and CEO Aritz Larrea and CFO Johan Wilsby.
To follow the webcast, please follow this link.
The presentation materials and a recorded version of the conference will be available on https://www.loomis.com/en/investors/reports-and-presentations/ following the presentation.
For more information, please contact:
Jenny Boström
Head of Sustainability and IR
ir@loomis.com
+46 79 006 45 92
Fredrik Hammarbäck
Media and External Communications Manager
media@loomis.com
+46 76 311 56 29
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/loomis-ab/r/loomis-interim-report-january—june-2026,c4377246
The following files are available for download:
https://mb.cision.com/Main/51/4377246/4201809.pdf
Loomis Interim Report January – June 2026
https://mb.cision.com/Public/51/4377246/940bbe0a24c483c8.pdf
Loomis Interim Report January – June 2026 – press release
View original content:https://www.prnewswire.com/news-releases/loomis-interim-report-january–june-2026-302833961.html
SOURCE Loomis AB
Huawei Cloud Launches Agentic Infrastructure and CodeArts Agent OBT in Thailand, Accelerating Enterprise AI Innovation
Huawei Cloud Launches Agentic Infrastructure and CodeArts Agent OBT in Thailand, Accelerating Enterprise AI Innovation
Loomis Interim Report January – June 2026
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