Technology
Lam Research Corporation Reports Financial Results for the Quarter Ended December 29, 2024
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2 years agoon
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FREMONT, Calif., Jan. 29, 2025 /PRNewswire/ — Lam Research Corporation (the “Company,” “Lam,” “Lam Research”) today announced financial results for the quarter ended December 29, 2024 (the “December 2024 quarter”).
Highlights for the December 2024 quarter were as follows:
Revenue of $4.38 billion.U.S. GAAP gross margin of 47.4%, U.S. GAAP operating income as a percentage of revenue of 30.5%, and U.S. GAAP diluted EPS of $0.92.Non-GAAP gross margin of 47.5%, non-GAAP operating income as a percentage of revenue of 30.7%, and non-GAAP diluted EPS of $0.91.
Key Financial Data for the Quarters Ended
December 29, 2024 and September 29, 2024
(in thousands, except per-share data, percentages, and basis points)
U.S. GAAP
December 2024
September 2024
Change Q/Q
Revenue
$ 4,376,047
$ 4,167,976
+ 5 %
Gross margin as percentage of revenue
47.4 %
48.0 %
– 60 bps
Operating income as percentage of revenue
30.5 %
30.3 %
+ 20 bps
Diluted EPS
$ 0.92
$ 0.86
+ 7 %
Non-GAAP
December 2024
September 2024
Change Q/Q
Revenue
$ 4,376,047
$ 4,167,976
+ 5 %
Gross margin as percentage of revenue
47.5 %
48.2 %
– 70 bps
Operating income as percentage of revenue
30.7 %
30.9 %
– 20 bps
Diluted EPS
$ 0.91
$ 0.86
+ 6 %
U.S. GAAP Financial Results
For the December 2024 quarter, revenue was $4,376 million, gross margin was $2,073 million, or 47.4% of revenue, operating expenses were $739 million, operating income was 30.5% of revenue, and net income was $1,191 million, or $0.92 per diluted share on a U.S. GAAP basis. This compares to revenue of $4,168 million, gross margin of $2,003 million, or 48.0% of revenue, operating expenses of $738 million, operating income of 30.3% of revenue, and net income of $1,116 million, or $0.86 per diluted share, for the quarter ended September 29, 2024 (the “September 2024 quarter”).
Non-GAAP Financial Results
For the December 2024 quarter, non-GAAP gross margin was $2,077 million, or 47.5% of revenue, non-GAAP operating expenses were $735 million, non-GAAP operating income was 30.7% of revenue, and non-GAAP net income was $1,175 million, or $0.91 per diluted share. This compares to non-GAAP gross margin of $2,009 million, or 48.2% of revenue, non-GAAP operating expenses of $722 million, non-GAAP operating income of 30.9% of revenue, and non-GAAP net income of $1,122 million, or $0.86 per diluted share, for the September 2024 quarter.
“Lam is executing at a high level at a pivotal moment for semiconductor manufacturing. Increasing demands on chip performance play into Lam’s strengths, with advanced deposition and etch applications set to comprise a growing share of WFE,” said Tim Archer, Lam Research’s President and Chief Executive Officer. “Our investments to win at key technology inflections are paying off, with more exciting opportunities ahead.”
Balance Sheet and Cash Flow Results
Cash, cash equivalents, and restricted cash balances decreased to $5.7 billion at the end of the December 2024 quarter compared to $6.1 billion at the end of the September 2024 quarter. The decrease was primarily the result of cash deployed for capital return activities and capital expenditures during the quarter, partially offset by cash generated from operating activities.
Deferred revenue at the end of the December 2024 quarter decreased to $2,032 million compared to $2,047 million as of the end of the September 2024 quarter. Lam’s deferred revenue balance does not include shipments to customers in Japan, to whom control does not transfer until customer acceptance. Shipments to customers in Japan are classified as inventory at cost until the time of acceptance. The estimated future revenue from shipments to customers in Japan was approximately $453 million as of December 29, 2024 and $184 million as of September 29, 2024.
Revenue
The geographic distribution of revenue during the December 2024 quarter is shown in the following table:
Region
Revenue
China
31 %
Korea
25 %
Taiwan
17 %
United States
9 %
Japan
8 %
Southeast Asia
7 %
Europe
3 %
The following table presents revenue disaggregated between system and customer support-related revenue:
Three Months Ended
December 29,
2024
September 29,
2024
December 24,
2023
(In thousands)
Systems revenue
$ 2,625,649
$ 2,392,730
$ 2,299,286
Customer support-related revenue and other
1,750,398
1,775,246
1,458,973
$ 4,376,047
$ 4,167,976
$ 3,758,259
Systems revenue includes sales of new leading-edge equipment in deposition, etch and clean markets.
Customer support-related revenue includes sales of customer service, spares, upgrades, and non-leading-edge equipment from our Reliant® product line.
Outlook
For the quarter ended March 30, 2025, Lam is providing the following guidance:
U.S. GAAP
Reconciling
Items
Non-GAAP
Revenue
$4.65 Billion
+/-
$300 Million
—
$4.65 Billion
+/-
$300 Million
Gross margin as a percentage of revenue
47.9 %
+/-
1 %
$ 2.8
Million
48.0 %
+/-
1 %
Operating income as a percentage of revenue
31.9 %
+/-
1 %
$ 3.4
Million
32.0 %
+/-
1 %
Net income per diluted share
$1.00
+/-
$0.10
$ 3.9
Million
$1.00
+/-
$0.10
Diluted share count
1.29 Billion
—
1.29 Billion
The information provided above is only an estimate of what the Company believes is realizable as of the date of this release and does not incorporate the potential impact of any business combinations, asset acquisitions, divestitures, restructuring, balance sheet valuation adjustments, financing arrangements, other investments, or other significant arrangements that may be completed or realized after the date of this release, except as described below. U.S. GAAP to non-GAAP reconciling items provided include only those items that are known and can be estimated as of the date of this release. Actual results will vary from this model and the variations may be material. Reconciling items included above are as follows:
Gross margin as a percentage of revenue – amortization related to intangible assets acquired through business combinations, $2.8 million.
Operating income as a percentage of revenue – amortization related to intangible assets acquired through business combinations, $3.4 million.
Net income per diluted share – amortization related to intangible assets acquired though business combinations, $3.4 million; amortization of debt discounts, $0.8 million; and associated tax benefit for non-GAAP items ($0.3 million); totaling $3.9 million.
Use of Non-GAAP Financial Results
In addition to U.S. GAAP results, this press release also contains non-GAAP financial results. The Company’s non-GAAP results for both the December 2024 and September 2024 quarters exclude amortization related to intangible assets acquired through business combinations, the effects of elective deferred compensation-related assets and liabilities, amortization of note discounts, and the net income tax effect of non-GAAP items. Additionally, the non-GAAP results for the December 2024 quarter exclude the income tax benefit from a change in tax law.
Management uses non-GAAP gross margin, operating expense, operating income, operating income as a percentage of revenue, net income, and net income per diluted share to evaluate the Company’s operating and financial results. The Company believes the presentation of non-GAAP results is useful to investors for analyzing business trends and comparing performance to prior periods, along with enhancing investors’ ability to view the Company’s results from management’s perspective. Tables presenting reconciliations of non-GAAP results to U.S. GAAP results are included at the end of this press release and on the Company’s website at https://investor.lamresearch.com.
Caution Regarding Forward-Looking Statements
Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to, but are not limited to: our outlook and guidance for future financial results, including revenue, gross margin, operating income and net income; our operational execution; the prospects for semiconductor manufacturing and for demand for wafer fabrication equipment (“WFE”); chip performance demands; the competitive positioning of Lam’s products; growth in the significance of advanced deposition and etch applications as a proportion of wafer fabrication equipment spending; the success of our investments at key technology inflections; and the opportunities ahead of us. Some factors that may affect these forward-looking statements include: the actions of our customers and competitors may be inconsistent with our expectations; business, political and/or regulatory conditions in the consumer electronics industry, the semiconductor industry and the overall economy may deteriorate or change; trade regulations, export controls, trade disputes, and other geopolitical tensions may inhibit our ability to sell our products; supply chain cost increases and other inflationary pressures have impacted and may continue to impact our profitability; supply chain disruptions or manufacturing capacity constraints may limit our ability to manufacture and sell our products; and natural and human-caused disasters, disease outbreaks, war, terrorism, political or governmental unrest or instability, or other events beyond our control may impact our operations and revenue in affected areas; as well as the other risks and uncertainties that are described in the documents filed or furnished by us with the Securities and Exchange Commission, including specifically the Risk Factors described in our annual report on Form 10-K for the fiscal year ended June 30, 2024, and our quarterly report on Form 10-Q for the fiscal quarter ended September 29, 2024. These uncertainties and changes could materially affect the forward-looking statements and cause actual results to vary from expectations in a material way. The Company undertakes no obligation to update the information or statements made in this release.
Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam’s equipment and services allow customers to build smaller and better performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research (Nasdaq: LRCX) is a FORTUNE 500® company headquartered in Fremont, Calif., with operations around the globe. Learn more at www.lamresearch.com. (LRCX)
Consolidated Financial Tables Follow.
LAM RESEARCH CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data and percentages)
(unaudited)
Three Months Ended
Six Months Ended
December 29,
2024
September 29,
2024
December 24,
2023
December 29,
2024
December 24,
2023
Revenue
$ 4,376,047
$ 4,167,976
$ 3,758,259
$ 8,544,023
$ 7,240,321
Cost of goods sold
2,303,066
2,165,293
1,985,847
4,468,359
3,805,267
Restructuring charges, net – cost of goods sold
—
—
14,957
—
22,897
Total cost of goods sold
2,303,066
2,165,293
2,000,804
4,468,359
3,828,164
Gross margin
2,072,981
2,002,683
1,757,455
4,075,664
3,412,157
Gross margin as a percent of revenue
47.4 %
48.0 %
46.8 %
47.7 %
47.1 %
Research and development
494,947
495,358
469,712
990,305
892,341
Selling, general and administrative
244,150
243,128
228,843
487,278
435,866
Restructuring charges, net – operating expenses
—
—
1,688
—
3,709
Total operating expenses
739,097
738,486
700,243
1,477,583
1,331,916
Operating income
1,333,884
1,264,197
1,057,212
2,598,081
2,080,241
Operating income as a percent of revenue
30.5 %
30.3 %
28.1 %
30.4 %
28.7 %
Other income (expense), net
14,262
30,081
29,839
44,343
32,440
Income before income taxes
1,348,146
1,294,278
1,087,051
2,642,424
2,112,681
Income tax expense
(157,128)
(177,834)
(132,785)
(334,962)
(271,017)
Net income
$ 1,191,018
$ 1,116,444
$ 954,266
$ 2,307,462
$ 1,841,664
Net income per share:
Basic
$ 0.93
$ 0.86
$ 0.72
$ 1.78
$ 1.39
Diluted
$ 0.92
$ 0.86
$ 0.72
$ 1.78
$ 1.39
Number of shares used in per share calculations:
Basic
1,287,109
1,299,236
1,316,293
1,293,173
1,321,067
Diluted
1,291,469
1,304,066
1,322,201
1,297,767
1,326,933
Cash dividend declared per common share
$ 0.23
$ 0.23
$ 0.20
$ 0.46
$ 0.40
LAM RESEARCH CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
December 29,
2024
September 29,
2024
June 30,
2024
(unaudited)
(unaudited)
(1)
ASSETS
Cash and cash equivalents
$ 5,665,379
$ 6,067,471
$ 5,847,856
Accounts receivable, net
3,304,946
2,937,217
2,519,250
Inventories
4,358,152
4,209,878
4,217,924
Prepaid expenses and other current assets
284,370
277,802
298,190
Total current assets
13,612,847
13,492,368
12,883,220
Property and equipment, net
2,313,590
2,214,269
2,154,518
Goodwill and intangible assets
1,761,021
1,758,344
1,765,073
Other assets
2,152,458
2,067,508
1,941,917
Total assets
$ 19,839,916
$ 19,532,489
$ 18,744,728
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current portion of long-term debt and finance lease obligations
$ 504,136
$ 504,682
$ 504,814
Other current liabilities
4,846,160
4,837,986
3,833,624
Total current liabilities
5,350,296
5,342,668
4,338,438
Long-term debt and finance lease obligations
4,478,148
4,479,087
4,478,520
Income taxes payable
669,747
664,717
813,304
Other long-term liabilities
533,699
574,126
575,012
Total liabilities
11,031,890
11,060,598
10,205,274
Stockholders’ equity (2)
8,808,026
8,471,891
8,539,454
Total liabilities and stockholders’ equity
$ 19,839,916
$ 19,532,489
$ 18,744,728
(1)
Derived from audited financial statements.
(2)
Common shares issued and outstanding were 1,284,956 as of December 29, 2024, 1,291,958 as of September 29, 2024, and 1,303,769 as of June 30, 2024.
LAM RESEARCH CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands, unaudited)
Three Months Ended
Six Months Ended
December 29,
2024
September 29,
2024
December 24,
2023
December 29,
2024
December 24,
2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income
$ 1,191,018
$ 1,116,444
$ 954,266
$ 2,307,462
$ 1,841,664
Adjustments to reconcile net income to net cash provided
by operating activities:
Depreciation and amortization
96,200
94,295
90,941
190,495
181,420
Deferred income taxes
(82,854)
(108,722)
(88,747)
(191,576)
(112,985)
Equity-based compensation expense
81,959
80,011
69,901
161,970
137,112
Other, net
(8,592)
(457)
4,182
(9,049)
4,032
Changes in operating assets and liabilities
(535,789)
386,900
423,297
(148,889)
353,760
Net cash provided by operating activities
741,942
1,568,471
1,453,840
2,310,413
2,405,003
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures and intangible assets
(188,349)
(110,588)
(115,276)
(298,937)
(192,268)
Net maturities and sales of available-for-sale securities
—
—
15,841
—
23,116
Other, net
12,974
37
(2,523)
13,011
(7,489)
Net cash used for investing activities
(175,375)
(110,551)
(101,958)
(285,926)
(176,641)
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on debt, including finance lease
obligations
(1,032)
(934)
(986)
(1,966)
(254,095)
Treasury stock purchases, including excise tax payments
(697,688)
(997,035)
(645,458)
(1,694,723)
(1,488,696)
Dividends paid
(297,634)
(260,985)
(264,414)
(558,619)
(494,746)
Reissuance of treasury stock related to employee stock
purchase plan
60,557
—
53,081
60,557
53,081
Proceeds from issuance of common stock, net issuance
costs
(194)
(43)
1,704
(237)
4,522
Other, net
761
(324)
(3,821)
437
(5,972)
Net cash used for financing activities
(935,230)
(1,259,321)
(859,894)
(2,194,551)
(2,185,906)
Effect of exchange rate changes on cash, cash equivalents,
and restricted cash
(26,022)
22,682
6,725
(3,340)
(4,306)
Net change in cash, cash equivalents, and restricted cash
(394,685)
221,281
498,713
(173,404)
38,150
Cash, cash equivalents, and restricted cash at beginning of
period (1)
6,072,084
5,850,803
5,126,809
5,850,803
5,587,372
Cash, cash equivalents, and restricted cash at end of
period (1)
$ 5,677,399
$ 6,072,084
$ 5,625,522
$ 5,677,399
$ 5,625,522
(1)
Restricted cash is reported within Other assets in the Condensed Consolidated Balance Sheets
Non-GAAP Financial Summary
(in thousands, except percentages and per share data)
(unaudited)
Three Months Ended
December 29,
2024
September 29,
2024
Revenue
$ 4,376,047
$ 4,167,976
Gross margin
$ 2,077,151
$ 2,009,022
Gross margin as percentage of revenue
47.5 %
48.2 %
Operating expenses
$ 734,501
$ 722,148
Operating income
$ 1,342,650
$ 1,286,874
Operating income as a percentage of revenue
30.7 %
30.9 %
Net income
$ 1,175,000
$ 1,121,507
Net income per diluted share
$ 0.91
$ 0.86
Shares used in per share calculation – diluted
1,291,469
1,304,066
Reconciliation of U.S. GAAP Net Income to Non-GAAP Net Income
(in thousands, except per share data)
(unaudited)
Three Months Ended
December 29,
2024
September 29,
2024
U.S. GAAP net income
$ 1,191,018
$ 1,116,444
Pre-tax non-GAAP items:
Amortization related to intangible assets acquired through certain business combinations – cost of goods sold
2,817
3,076
Elective deferred compensation (“EDC”) related liability valuation increase – cost of goods sold
1,353
3,263
EDC related liability valuation increase – research and development
2,432
8,136
Amortization related to intangible assets acquired through certain business combinations – selling, general and
administrative
538
692
EDC related liability valuation increase – selling, general and administrative
1,626
7,510
Amortization of note discounts – other income (expense), net
772
765
Gain on EDC related asset – other income (expense), net
(4,502)
(17,420)
Net income tax benefit on non-GAAP items
(276)
(959)
Income tax benefit from a change in tax law
(20,778)
—
Non-GAAP net income
$ 1,175,000
$ 1,121,507
Non-GAAP net income per diluted share
$ 0.91
$ 0.86
U.S. GAAP net income per diluted share
$ 0.92
$ 0.86
U.S. GAAP and non-GAAP number of shares used for per diluted share calculation
1,291,469
1,304,066
Reconciliation of U.S. GAAP Gross Margin, Operating Expenses and Operating Income to Non-GAAP Gross Margin,
Operating Expenses and Operating Income
(in thousands, except percentages)
(unaudited)
Three Months Ended
December 29,
2024
September 29,
2024
U.S. GAAP gross margin
$ 2,072,981
$ 2,002,683
Pre-tax non-GAAP items:
Amortization related to intangible assets acquired through certain business combinations
2,817
3,076
EDC related liability valuation increase
1,353
3,263
Non-GAAP gross margin
$ 2,077,151
$ 2,009,022
U.S. GAAP gross margin as a percentage of revenue
47.4 %
48.0 %
Non-GAAP gross margin as a percentage of revenue
47.5 %
48.2 %
U.S. GAAP operating expenses
$ 739,097
$ 738,486
Pre-tax non-GAAP items:
Amortization related to intangible assets acquired through certain business combinations
(538)
(692)
EDC related liability valuation increase
(4,058)
(15,646)
Non-GAAP operating expenses
$ 734,501
$ 722,148
U.S. GAAP operating income
$ 1,333,884
$ 1,264,197
Non-GAAP operating income
$ 1,342,650
$ 1,286,874
U.S. GAAP operating income as percent of revenue
30.5 %
30.3 %
Non-GAAP operating income as a percent of revenue
30.7 %
30.9 %
Lam Research Corporation Contacts:
Ram Ganesh, Investor Relations, phone: 510-572-1615, e-mail: investor.relations@lamresearch.com
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SOURCE Lam Research Corporation
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BEIJING, Oct. 18, 2026 /PRNewswire/ — An interview from China.org.cn with Wang Xiaohui and David Ferguson on the Long March:
David Ferguson:
This is the Yudu River. One dusk in October, 1934, more than 86,000 soldiers of the Red Army crossed this river and embarked on the Long March, a two-year saga that has left its mark in history.
Yet, lingering here by the river, I am struck by a simple question: If you have faith in a bright future, and reality seems to thwart you at every turn, where do you find the moral strength to keep believing?
Wang Xiaohui:
At dusk on Oct. 17, 1934, an army of more than 86,000 troops gathered along the banks of the Yudu River. Over 800 boats of all sizes floated on the water, bound together with planks collected from villagers’ home gates, timber beams, and even coffin boards reserved for elderly locals. The people of Yudu built this pontoon bridge, determined to help the army led by the Communist Party of China (CPC) cross the river.
At that time, no one knew that the great expedition embarked upon by the banks of the Yudu River would go on to transform China and exert far-reaching influence across the world.
China in the 1920s and 1930s was plagued by chaos and despair.
The Kuomintang (KMT), the ruling party back then, was not capable of unifying the nation, leaving warlords locked in endless fighting. In 1931, Japanese invaders launched an assault on northeastern China, beginning their invasion. Crushed under domestic turbulence and foreign aggression, countless civilians were displaced, with many even starving to death on the streets; in certain regions, severe drought resulted in zero harvests, yet the farmers were forced to pay land taxes assessed for more than a decade into the future.
Amid this turmoil, the only glimmer of hope for the Chinese nation was kindled by the revolution ignited by the Communist Party of China.
The CPC, dedicated to winning liberation for the people and national independence, built contingents of workers’ and peasants’ Red Army troops and revolutionary base areas across the countryside. Impoverished farmers were granted land ownership, as well as unprecedented political dignity. On Nov. 7, 1931, the Chinese Soviet Republic was officially proclaimed in Ruijin, then a small village in southeastern China’s Jiangxi Province, establishing a Soviet system under which workers, peasants and soldiers elected representatives to run regional affairs and make policies.
The communist ideal of a fair society free from exploitation and equality for all blazed like a spark in the darkness; it kindled hopes among impoverished Chinese and became the wellspring of faith that enabled the Red Army — a force made up of poor workers and peasants — to overcome all hardships in the days to come.
Yet, bright as the spark was, it burned thin and fragile at times. Could this flame still endure when the ideals it carried were repeatedly battered by harsh reality?
In September 1933, flocks of warplanes clouded the skies over the Red Army’s revolutionary base areas. By then, Japanese invaders were steadily advancing towards North China, but Chiang Kai-shek’s KMT turned a blind eye to the looming national crisis. They mobilized over a million troops and more than 200 aircraft to launch a massive offensive at the Red Army’s base areas. Over the previous three years, Chiang Kai-shek had mounted four major military “encirclement” campaigns aimed at exterminating the Red Army, but all ended in failure. He was desperate for a pivotal victory to restore his prestige and to wipe out the CPC and the Red Army.
At the time, the commander of the Red Army abandoned mobile warfare tactics pioneered by Mao Zedong and other commanders, opting instead for rigid positional warfare involving conventional head-on clashes. But the reality was, some Red Army units didn’t even possess a single light machine gun; how could they confront the heavily-armed KMT army head-on?
Zhong Ming, a Red Army medic, could never erase the memories of gravely wounded soldiers being carried to his aid station. He remembered how a soldier whose chest was blown open begged his comrades to end his life. At the frontline, a whole battalion of Red Army soldiers religiously followed orders to defend crude earth-and-wood bunkers, but under the constant barrage of KMT artillery and airstrikes, every soldier in the battalion laid down their lives; not a single man survived.
What’s more heart-wrenching is that no matter how fearlessly the Red Army fought, the steep imbalance in military strength, paired with erroneous military command led to irreversible losses. By October 1934, the KMT’s iron-clad encirclement closed menacingly around Ruijin.
Faced with this dead-end, what decision would you make?
This stood as the most agonizing decision for the Red Army. The biggest challenge lay not in sacrificing one’s life for an ideal, but in finding a way to keep the revolutionary cause alive.
To stay meant defeat — the Red Army had no room to maneuver within the Central Revolutionary Base Area. To break through the encirclement, however slim the odds, offered a fighting chance. Preserving the Red Army as a living force mattered much more than clinging to isolated strongholds. Where the spark survives, the path ahead remains lit.
The air already turned chilly in October. Units of the Central Red Army assembled in Yudu to prepare for a strategic shift. The plan was kept strictly classified; none of the soldiers knew they were evacuating the base areas, only sensing an unusual vibe.
At dusk on Oct. 17, crowds lined up at the Yudu riverbank. Tens of thousands of villagers flocked from every corner to see the Red Army off. They walked alongside the marching columns, slipping food like eggs and glutinous rice balls into the soldiers’ pockets, praying for their swift homecoming.
The main force of the Central Red Army set off. Within days, they left behind revolutionary base areas where they had survived, grown and taken root. No one anticipated that the journey they embarked on would become the Long March, a trek spanning over 10 provinces. Still less could anyone imagine that this journey would ultimately pave the way for a brand-new China.
Looking back on this chapter of history, many claim that the Red Army only set out on this expedition because the enemies left them no other choice. To a degree, yes, the Long March was indeed a forced strategic shift, yet this fact does nothing to diminish its greatness and glory.
The ordinary Red Army soldiers had no idea how far they would march, or where they were heading. But they clung firmly to their founding mission: to deliver liberation for the people and independence to the nation. This unswerving conviction kept them from disintegrating through countless perils, sustaining them as they marched into the unknown with resolve.
David Ferguson:
I now realize that faith and ideals untested by harsh reality may have no true substance.
Since its founding, the Communist Party of China has always upheld the realization of communism as its fundamental goal. Despite devastating losses and extreme adversity, the Red Army continued to press forward resolutely and never faltered. Its inner strength came from an unshakable belief in the cause, an unwavering commitment to the founding aspiration, and a profound sense of mission. The Red Army was never fleeing pursuers in search of safety; it was marching forward to a future in which it had a steadfast belief.
Wang Xiaohui:
The Long March went on for two years. The Red Army trekked 25,000 li across some of China’s harshest terrain, but they kept their heads high, seeking hope amid despair and marching towards light through unending darkness. The lofty ideals and sense of mission they upheld have also become the torch that guides generations of CPC members in the following centennial, tempering them into steel as they press forward unswervingly toward national rejuvenation.
That spark lit along the Yudu River has never dimmed since.
China Mosaic
http://www.china.org.cn/video/node_7230027.htm
Faith: The Spark Born by the Yudu Riverside
http://www.china.org.cn/2026-10/16/content_118736835.shtml
View original content to download multimedia:https://www.prnewswire.com/news-releases/faith-the-spark-born-by-the-yudu-riverside-302911977.html
SOURCE China.org.cn
Technology
Linktel Technologies Highlights Breakthrough 1.6T LPO Performance & Strong Market Pull at OCP 2026
Published
7 hours agoon
October 18, 2026By
SAN JOSE, Calif., Oct. 18, 2026 /PRNewswire/ — At the recent 2026 OCP Global Summit, Linktel Technologies showcased its cutting-edge optical interconnect portfolios engineered specifically for next-generation AI computing networks. Among the heavy lineup, Linktel’s 1.6T Linear Pluggable Optics (LPO) solutions commanded immense industry attention, drawing heavy customer interest for their unprecedented energy efficiency, ultra-low latency, and supply-chain resilience.
Spotlight: 1.6T LPO Performance & High Customer Traction
AI data centers face immense scaling pressures, demanding higher bandwidth densities with tighter thermal and power budgets. Linktel’s 1.6T LPO solutions—highlighted by the 1.6T LPO 2DR4—delivered standout performance metrics that captured the spotlight at the summit:
Ultra-Low Power Consumption: Operates with power consumption as low as an impressive 10W, drastically mitigating data center cooling and power loads.Minimal Latency: Features a linear optics architecture that cuts down signal processing delays, making it a critical asset for high-performance AI scale-out fabrics.Enhanced Supply-Chain Resilience: Eliminating the optical DSP mitigates component choke points, ensuring robust scalability for mass deployments.Proven Interoperability: Following its breakthrough performance and multi-switch platform interoperability at the early September 2026 1.6T LPO-MSA Plugfest, Linktel has laid a solid foundation for the 200G-per-wavelength ecosystem.
Surging Market Interest
Throughout OCP 2026, Linktel’s live demonstrations of its 1.6T LPO, LRO, and FRO modules drew crowds of data center architects and industry partners. With volume production already in place, Linktel is fully equipped to meet the exploding market demand for energy-efficient, high-density 1.6T connectivity.
Overview of Other Innovations at OCP 2026
In addition to the heavily requested 1.6T LPO lineup, Linktel showcased two other major high-speed architectural pillars:
12.8T Liquid-Cooled XPO:Featured a live thermal demonstration integrating advanced liquid cooling to guarantee stable operations in high-density AI nodes.As a founding member of the XPO MSA, Linktel is actively scaling XPO series with FRO, LRO, and LPO variants for comprehensive scale-up, scale-out, and scale-across frameworks.6.4T/7.2T NPO Modules:Displayed with covers removed to reveal internal architectural designs supporting both ELS and ILS configurations.Combines compact high density with low power and low latency, backed by an established 6.4T/7.2T NPO roadmap.DMD Technology & Executive Presentation:Linktel Engineer Director Dr. Grace Zhang hosted a heavily attended Executive Session titled “Dispersion Managed Transceiver for Next-Gen AI Fabrics,” detailing cost-effective 800G (20km) and 1.6T (10km) solutions for OCS SuperPOD architectures, as well as the feasibility of 400G per lambda (3km).With its DMD product line already in volume production, Linktel actively calls upon ecosystem partners to join forces in collaborative development. To drive ecosystem maturity, Linktel is open to sharing its U.S.-filed patents, paving the way for industry-wide adoption and advancements in next-gen AI fabrics.
About Linktel Technologies
Linktel Technologies is a global leader in optical transceiver development and manufacturing, supplying high-speed optical I/O connectivity—including pluggable transceivers, optical engines, and ODM/JDM services.
For more information, visit www.linktel.com or follow Linktel Technologies on LinkedIn.
View original content:https://www.prnewswire.com/news-releases/linktel-technologies-highlights-breakthrough-1-6t-lpo-performance–strong-market-pull-at-ocp-2026–302911973.html
SOURCE Linktel Technologies
Technology
Advanced Manufacturing in Focus: Smart Life and Robotics Take the Spotlight at 140th Canton Fair
Published
8 hours agoon
October 18, 2026By
GUANGZHOU, China, Oct. 18, 2026 /CNW/ — Phase 1 of the 140th Canton Fair, themed “Advanced Manufacturing,” opened on October 15 and will run through October 19. As one of the event’s most closely watched sections, the Consumer Electronics and Information Products zone once again serves as a showcase for the latest achievements in China’s manufacturing and technology industries.
Smart Life Solutions Address an Aging and Globalized Market
A highlight of this section is the focus on smart living, which brings together smart solutions designed to support healthier, safer, and more independent lifestyles.
For example, wearable devices and continuous glucose monitoring systems enable convenient tracking of key health indicators such as heart rate and blood glucose levels. Meanwhile, wearable exoskeletons and other AI-powered devices support mobility training and functional recovery. For home and elderly care, companion robots, electric nursing beds and home-use hyperbaric oxygen chambers, offer a combination of daily care, wellness support and lifestyle assistance. All these solutions highlight a growing shift toward technology-enabled living, where health management, personal care, and independent living are becoming more accessible and connected.
Service Robots Demonstrate Expanding Real-World Applications
The Service Robot Zone remains one of the fair’s most popular attractions in this edition.
Among the crowd favorites is a humanoid robot standing roughly 70–80 centimeters tall. With its expressive movements and playful appearance, the robot draws constant attention as it dances, approaches visitors and occasionally performs flips to the delight of onlookers. Behind the product is a company that has overcome key challenges in compact joint modules and modular humanoid robot development. Its independently developed high-power-density joints deliver remarkable agility and explosive movement, while modular architecture provides flexibility for a wide range of future applications.
More broadly, the Service Robot Zone features exhibits spanning a wide range of application areas, including embodied intelligence, specialized operations, urban services, and smart living. Full-size humanoid robots, dexterous hands with multimodal sensing capabilities and wheeled robots highlight the latest advances in artificial intelligence, perception technologies and motion control. For demanding industrial and emergency environments, exhibitors are presenting robotic inspection systems, live-line maintenance robots and underwater propulsion robots designed to improve safety and operational efficiency.
The commercial services sector is also well represented through reception robots, façade-cleaning robots and fully automated coffee kiosks, while everyday life applications include wearable exoskeletons, robotic lawn mowers and educational robots for home use. Together, these exhibits demonstrate how China’s robotics industry is accelerating its transition from technological innovation to large-scale commercialization.
As the 140th Canton Fair gets underway, the showcased innovations highlight China’s growing strength in advanced manufacturing, turning cutting-edge technologies into practical, market-ready solutions for global customers.
For more convenient attendance, please click here for pre-registration:
https://buyer.cantonfair.org.cn/register/buyer/email?source_type=16
View original content to download multimedia:https://www.prnewswire.com/news-releases/advanced-manufacturing-in-focus-smart-life-and-robotics-take-the-spotlight-at-140th-canton-fair-302911955.html
SOURCE Canton Fair
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