On 20 January, the Institute of Medicine and Traditional Medicine under the Ministry of Health signed a new agreement with the Chanthabouly District Young Businessmen’s Association. The aim of this collaboration is to improve both the quality and quantity of traditional medicine products and to protect the plant species used in their production.
The Great Optimism Divide: Singaporeans’ Bright Future vs. Hong Kong’s Uncertainty
As the Year of the Snake Approaches, the contrasting sentiments reveal deeper economic realities and highlight the paths forward for both cities.
- Optimism Divide: A striking difference in outlook for 2025 exists between residents of Singapore and Hong Kong. 51% of Singaporeans express optimism about the upcoming year, while only 29% of Hong Kong residents share this sentiment.
- Confidence in Achievements: 57% of Singaporeans report high confidence in achieving their goals in 2025, contrasting sharply with just 34% of individuals in Hong Kong who feel similarly assured.
- Happiness Metrics: 55% of Singaporeans feel content in their daily lives compared to 43% of Hong Kong residents. Financial stability, health, and family are recognized as the top contributors to happiness across both regions.
- Economic Worries: Financial concerns remain a pervasive issue for both populations. Among younger demographics, Gen Z and Millennials in Hong Kong express heightened anxiety over finances, while older generations show different priorities.
- Health as a Priority: Health emerges as a critical focus for residents in both cities. While financial stability impacts happiness, health consistently ranks as a top priority, highlighting the importance of well-being amid economic challenges.
- Future Prospects: As the Year of the Snake unfolds, both cities face pivotal opportunities for transformation, with Singaporeans looking to embrace growth while Hong Kong residents must navigate a landscape of uncertainty.
HONG KONG SAR – Media OutReach Newswire – 23 January 2025 – As the Lunar New Year approaches, ushering in the Year of the Snake—a symbol of wisdom and renewal, MDRi has conducted a survey encompassing 1,000 participants from Hong Kong and Singapore to gauge the prevailing sentiments regarding their future and evolving life priorities for the upcoming year: the economic fates of Singapore and Hong Kong seem to diverge dramatically. While Singaporeans anticipate a prosperous 2025, buoyed by optimism and resilience, their counterparts in Hong Kong face a landscape marred by uncertainty and caution.
A Tale of Two Cities
Recent findings from a survey conducted by MDRi reveal a stark contrast in sentiment between the two cities. 51% of Singaporeans express optimism about the upcoming year, in sharp contrast to just 29% of Hong Kong residents. This disparity extends beyond mere feelings; it reflects deeper economic realities.
Singapore’s economy is projected to grow by 2.8% in 2025, buoyed by a robust performance in 2024 and improving external demand. In stark contrast, Hong Kong’s GDP growth is expected to decline to 2%, hindered by high interest rates and ongoing trade tensions, particularly with the United States. The economic slowdown has led many in Hong Kong to question their future, with 25% expressing doubts about achieving their personal goals in the coming year whereas 57% of Singaporean are feeling confident with achieving their personal goals.
Confidence and Happiness
Confidence is a vital currency in both cities, and here too the divide is palpable. 57% of Singaporeans report high confidence in their ability to achieve their goals, compared to only 34% of Hong Kong residents. This sense of agency is reflected in their levels of happiness, with 55% of Singaporeans feeling content in their daily lives, while 43% in Hong Kong report similar feelings.
However, underlying these sentiments are shared concerns—financial worries loom large for both populations. In Hong Kong, these concerns are particularly pronounced among younger demographics, with Gen Z and Millennials facing significant financial pressures in a sluggish economy. In Singapore, while financial stability remains a priority, family and health take center stage in the happiness equation.
The Health Imperative
As both cities grapple with their economic realities, health emerges as a priority for residents. The Year of the Snake, often associated with healing and transformation, may offer a timely reminder of the importance of well-being. Singaporeans tend to focus on family alongside health, while Hong Kong residents are increasingly concerned about financial stability and health issues.
This shared emphasis on health opens avenues for growth in the health sector, a potential silver lining amidst the economic clouds. As populations in both cities age, the demand for health-related services is likely to rise, providing opportunities for innovation and investment.
Navigating the Future
Simon Tye, CEO of MDRi, encapsulates the essence of the current moment: “The survey highlights the divergent trajectories of Hong Kong and Singapore, shedding light on the economic challenges and growth opportunities within the health sector for 2025. Understanding these differences will enable stakeholders to navigate the complexities ahead.”
As the Year of the Snake unfolds, Singaporeans may find themselves shedding old doubts for new growth, while Hong Kong residents must tread carefully, mindful of the hidden challenges that lie ahead. In this transformative year, wisdom and insight will be crucial as both cities chart their paths forward.
Notes to editors:
- The press release result is based on a survey conducted by MDRi during 31st December 2024 – 6th January 2025, measuring the sentiment and happiness level of both markets of Hong Kong and Singapore towards the year 2025.
- The survey engaged a total of 1,000 participants, with an equal sample size of 500 individuals from each market, to ensure a balanced representation of the demographic distribution within the respective territories.
For further information, interviews, or comments, please contact info@mdr-i.com.
Hashtag: #MDRi
The issuer is solely responsible for the content of this announcement.
About MDRi
Based in Hong Kong and with operations in London and Singapore, MDRi is a leading provider of business insights, empowering organizations with data-driven advice to make informed decisions and drive growth.
Through advanced analytics, industry expertise, and innovative methodologies, MDRi uncovers strategic opportunities, mitigates risks, and helps businesses stay ahead in a rapidly evolving marketplace. With a commitment to excellence and client-centricity, MDRi is revolutionizing the way organizations harness insights for success.
About The Mishcon de Reya Group
The Mishcon de Reya Group is an independent, international professional services business with law at its heart, employing over 1450 people with over 650 lawyers. It includes the law firm Mishcon de Reya LLP and a collection of leading consultancy businesses that complement the firm’s legal services.
Mishcon de Reya LLP is based in London, Oxford, Cambridge, Singapore and Hong Kong (through its association with Karas So LLP). The firm services an international community of clients and provides advice in situations where the constraints of geography often do not apply. Its work is cross-border, multi-jurisdictional and complex, spanning seven core practice areas:
Corporate;
Dispute Resolution;
Employment;
Impact;
Innovation;
Private; and
Real Estate.
The Mishcon de Reya Group includes consultancy businesses
MDR Discover,
MDR Mayfair (in London, Singapore and Dubai),
MDR ONE,
MDRi (in Hong Kong) and
MDRx. The Group also includes
MDR Lab, which invests in the most promising early stage legaltech companies as well as the Mishcon Academy, its in-house place of learning and platform for thought leadership.
Earlier this year, the Group announced its first strategic acquisition in the alternative legal services market, flexible legal resourcing business Flex Legal. It also acquired a majority stake in Somos, a global group actions management business.
CHINAPLAS Focuses on Green, Smart, and High-Tech Solutions for a Sustainable Future of the Plastics and Rubber Industries

SHENZHEN, CHINA – Media OutReach Newswire – 23 January 2025 – China remains crucial in global economic growth, with a steadily expanding Purchasing Managers’ Index (PMI) and confidence in meeting growth targets, solidifying its position as a powerhouse in the global economy. In November 2024, the PMI of China’s manufacturing industry reached 50.3%, an increase for three consecutive months, indicating an accelerating pace in the expansion of the manufacturing industry, according to the National Bureau of Statistics of China. Building upon this momentum, CHINAPLAS 2025, themed “Transformation * Collaboration * Sustainability,” will take place at Shenzhen World Exhibition & Convention Center, PR China, on April 15-18, 2025. Expanding from its 2023 edition in Shenzhen, CHINAPLAS 2025 will host over 4,000 international exhibitors, with 380,000 sqm of space across all 19 halls, showcasing the latest innovations in plastics and rubber solutions. Together with 9 country/region pavilions, CHINAPLAS 2025 will facilitate collaboration along the upstream and downstream industry chains, leading the way with green, smart and high-tech solutions to drive high-quality industrial growth.
Green: Innovating for Circular Economy
Sustainability and environmental awareness have become global industry trends. By emphasizing the reuse of resources to minimize waste and stimulate economic growth, the exhibition will demonstrate a clear dedication to addressing environmental challenges. This focus aligns seamlessly with China’s progressive policies promoting sustainability and recycling initiatives, reflecting the industry’s proactive stance towards a more sustainable future. Suppliers in the plastics and rubber industries are consistently unveiling biodegradable materials, recycling, and sustainable solutions as they actively propel efforts toward a circular economy.
CHINAPLAS 2025 will feature three thematic zones, namely Recycled Plastics, Bioplastics, and Recycling Technology, covering around 16,000 sqm and gathering leading material suppliers and recycling machine manufacturers, including Veolia, Faurecia, ALBA, Esun, NatureWorks, Erema, Starlinger, NGR, Zerma, Sorema, Sesotec, Avian, Tomra, Jwell, etc. which will present their sustainable technologies and solutions, supporting the industry’s goals for environmentally friendly development. Live demonstrations of two recycling production lines, focusing on ‘Bottle-to-Bottle Closed-Loop Recycling’ and ‘Turning PE Waste into Treasure,’ will unveil advanced equipment technology and high-value utilization solutions within the plastic recycling sector. The sports and leisure industry, a promising market for plastics and rubber applications, will also be highlighted at CHINAPLAS with the “SportsTech Chic + Green” event, collaborating with renowned sports brands to showcase the innovation and sustainability of plastics and rubber in sports products. CHINAPLAS x CPRJ will host the 6th Edition Plastics Recycling & Circular Economy Conference & Showcase in Shenzhen, gathering global stakeholders to delve into the latest recycling trends. Collaborating with the China Packaging Federation, CHINAPLAS will first introduce the Sustainable Plastics Packaging Networking Forum, connecting industry experts and exploring sustainable packaging solutions worldwide.
Smart: Evolving digitally in Manufacturing
Smart Manufacturing, encompassing technologies like automation, artificial intelligence and IoT integration, enhances manufacturing processes and revolutionizes industries by boosting efficiency, productivity, and flexibility. Through tools like predictive maintenance, real-time monitoring, and automated quality control, production output and quality is improved that eventually fosters sustainability efforts in the plastics and rubber industries.
At CHINAPLAS 2025, an extensive range of smart manufacturing solutions and machinery will be unveiled in the Injection Molding Solutions Zone and Injection Molding and Smart Manufacturing Solutions Zone, covering a substantial 53,000 sqm. Leading global companies like Arburg, Kraussmaffei, Wittmann, Fanuc, JSW, Siemens, Kawata, Matsui, Keba, Beckhoff, Gimatic, Star Seiki, Hong Kong Plastic Machinery Association Pavilion, etc. will demonstrate digitalization, ensuring sustainable growth and competitive advantages in a rapidly evolving digital landscape.
China’s High Tech: Empowering the Global Plastics and Rubber Markets
China remains in the spotlight for cutting-edge advancements and industry collaborations. Within the plastics and rubber industries, China’s high technology stands as a cornerstone for innovation and progress. China’s strides in cutting-edge fields like artificial intelligence, robotics, and intelligent manufacturing solutions are actively reshaping the industry’s direction, driving sustainable growth and fostering a culture of continuous advancement. These breakthroughs underscore China’s commitment to pushing the boundaries of what’s possible in the plastics and rubber industries, setting new standards for efficiency, quality, and technological sophistication.
CHINAPLAS 2025 will shine a spotlight on a diverse selection of cutting-edge materials and machinery technologies. These include carbon fiber composites tailored for the low-altitude economy, photovoltaic films, high-performance films, food-grade rPET, UV-resistant functional fabrics, lightweight and electrification solutions, and digitalized smart manufacturing solutions. This year, the exhibition will gather 900 registered exhibitors which are recognized as “Professionalization, Refinement, Specialization and Innovation (PRSI)”. It aims to support the innovation of niche companies and advance the initiatives of the Government of the People’s Republic of China.
Click HERE to pre-register for CHINAPLAS 2025 now for an admission ticket at RMB 50 or USD 7.5. For more information about the show, please click HERE.
Hashtag: #CHINAPLAS
The issuer is solely responsible for the content of this announcement.
Clubpets Hosts Singapore Cat Carnival 2025 On 22 & 23 February

SINGAPORE – Media OutReach Newswire – 23 January 2025 – The Singapore Cat Carnival 2025, the first cat-exclusive event at Marina Bay Sands, is set to captivate feline enthusiasts on 22 and 23 February 2025 at Marina Bay Sands Expo & Convention Centre, Level 1, Hall C. Running from 10 AM to 8 PM, the event aims to bring together cat owners, breeders, and enthusiasts to celebrate all aspects of feline care, welfare, and appreciation through a lineup of activities, workshops, and informative sessions.
Organised by Clubpets, one of the event’s standout highlights is the ISFC International Cat Grooming Certification and Competition, the biggest cat grooming competition in Singapore, attracting international participants from Taiwan, Malaysia, Thailand, Indonesia, and Myanmar. Organised by the International Society of Feline Cosmetologists (ISFC), this global competition showcases the talent of grooming professionals while promoting international standards in feline grooming education. Originating from the United States, the ISFC is renowned for raising grooming standards worldwide and fostering a global network of skilled cat groomers. At the carnival, participants and spectators alike will witness incredible grooming artistry as professionals demonstrate their expertise live. The Singapore Cat Carnival will serve as a stage for showcasing this talent, with international students and grooming professionals gathering in Singapore for this event.
Another key highlight is the Breeds of The World Showcase presented by Feline Club Singapore, where visitors can observe and interact with popular cat breeds like the Maine Coon, British Shorthair, and Siberian in immersive rooms. The showcase also provides a breed talk throughout the two days, where there would be educational perspectives on the origins, characteristics, and care requirements of each breed, offering insights for potential cat owners and enthusiasts interested in breed-specific traits. Expert handlers will be present on-site to answer questions, ensuring visitors leave with a better understanding of feline diversity and the importance of responsible cat ownership.
To further engage attendees, the carnival offers hands-on workshops and talks, covering essential topics like cat care, nutrition, and healthcare, alongside interactive play sessions where visitors can book time slots to interact and play with the cats. Additionally, attendees can book slots for free skin and coat consultations and basic grooming services, including nail trimming, ear cleaning, and paw pad shaving, ensuring an engaging and educational experience for all.
The event will also host a series of interactive contests, including the Best Dressed Cat, Cutest Cat, and Most Talented Cat competitions. These activities aim to foster a fun and inclusive atmosphere while celebrating the creativity and bond between cats and their owners.
The carnival seeks to foster a sense of community among cat lovers while raising awareness about responsible pet ownership. With a mission to promote cat welfare, the event provides a platform to learn about ethical breeding practices, professional grooming, and the importance of adopting shelter animals.
Since its inception in 2002, Clubpets has been a premier pets magazine platform and a trusted name in connecting pet enthusiasts and professionals in Singapore. With a strong focus on education and community, the Singapore Cat Carnival 2025 continues this legacy by creating an unforgettable experience for all attendees.
For more information on the Singapore Cat Carnival 2025, please visit https://sgcatcarnival.com/.
Hashtag: #Clubpets #SingaporeCatCarnival2025
https://sgcatcarnival.com/
https://www.facebook.com/CLUBPETS
https://www.instagram.com/clubpets.sg/
The issuer is solely responsible for the content of this announcement.
TAL Education Group Announces Unaudited Financial Results for the Third Fiscal Quarter Ended November 30, 2024
BEIJING, Jan. 23, 2025 /PRNewswire/ — TAL Education Group (NYSE: TAL) (“TAL” or the “Company”), a smart learning solutions provider in China, today announced its unaudited financial results for the third quarter of fiscal year 2025 ended November 30, 2024.
Highlights for the Third Quarter of Fiscal Year 2025
- Net revenues were US$606.4 million, compared to net revenues of US$373.5 million in the same period of the prior year.
- Loss from operations was US$17.4 million, compared to loss from operations of US$32.2 million in the same period of the prior year.
- Non-GAAP loss from operations, which excluded share-based compensation expenses, was US$1.9 million, compared to non-GAAP loss from operations of US$10.2 million in the same period of the prior year.
- Net income attributable to TAL was US$23.1 million, compared to net loss attributable to TAL of US$23.9 million in the same period of the prior year.
- Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was US$38.6 million, compared to non-GAAP net loss attributable to TAL of US$1.9 million in the same period of the prior year.
- Basic and diluted net income per American Depositary Share (“ADS”) were both US$0.04. Non-GAAP basic and diluted net income per ADS, which excluded share-based compensation expenses, were both US$0.06. Three ADSs represent one Class A common share.
- Cash, cash equivalents and short-term investments totaled US$3,835.8 million as of November 30, 2024, compared to US$3,303.3 million as of February 29, 2024.
Highlights for the Nine Months Ended November 30, 2024
- Net revenues were US$1,640.0 million, compared to net revenues of US$1,060.9 million in the same period of the prior year.
- Income from operations was US$12.9 million, compared to loss from operations of US$58.2 million in the same period of the prior year.
- Non-GAAP income from operations, which excluded share-based compensation expenses, was US$63.5 million, compared to non-GAAP income from operations of US$10.2 million in the same period of the prior year.
- Net income attributable to TAL was US$91.9 million, compared to net loss attributable to TAL of US$31.1 million in the same period of the prior year.
- Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was US$142.5 million, compared to non-GAAP net income attributable to TAL of US$37.3 million in the same period of the prior year.
- Basic and diluted net income per ADS were both US$0.15. Non-GAAP basic net income per ADS, which excluded share-based compensation expenses, was US$0.24, and Non-GAAP diluted net income per ADS, which excluded share-based compensation expenses, was US$0.23.
Financial Data——Third Quarter and First Nine Months of Fiscal Year 2025
(In US$ thousands, except per ADS data and percentages)
Three Months Ended |
|||||
November 30, |
|||||
2023 |
2024 |
Pct. Change |
|||
Net revenues |
373,506 |
606,446 |
62.4 % |
||
Loss from operations |
(32,185) |
(17,432) |
(45.8 %) |
||
Non-GAAP loss from operations |
(10,184) |
(1,920) |
(81.1 %) |
||
Net (loss)/income attributable to TAL |
(23,946) |
23,069 |
(196.3 %) |
||
Non-GAAP net (loss)/income attributable to TAL |
(1,945) |
38,581 |
(2,083.6 %) |
||
Net (loss)/income per ADS attributable to TAL – |
(0.04) |
0.04 |
(195.5 %) |
||
Net (loss)/income per ADS attributable to TAL – |
(0.04) |
0.04 |
(194.1 %) |
||
Non-GAAP net (loss)/income per ADS attributable |
(0.00) |
0.06 |
(2,066.2 %) |
||
Non-GAAP net (loss)/income per ADS attributable |
(0.00) |
0.06 |
(2,037.0 %) |
||
Nine Months Ended |
|||||
November 30, |
|||||
2023 |
2024 |
Pct. Change |
|||
Net revenues |
1,060,877 |
1,639,994 |
54.6 % |
||
(Loss)/income from operations |
(58,168) |
12,860 |
(122.1 %) |
||
Non-GAAP income from operations |
10,229 |
63,476 |
520.5 % |
||
Net (loss)/income attributable to TAL |
(31,081) |
91,902 |
(395.7 %) |
||
Non-GAAP net income attributable to TAL |
37,316 |
142,518 |
281.9 % |
||
Net (loss)/income per ADS attributable to TAL – |
(0.05) |
0.15 |
(399.0 %) |
||
Net (loss)/income per ADS attributable to TAL – |
(0.05) |
0.15 |
(394.1 %) |
||
Non-GAAP net income per ADS attributable to |
0.06 |
0.24 |
286.2 % |
||
Non-GAAP net income per ADS attributable to |
0.06 |
0.23 |
286.3 % |
“We achieved healthy year-on-year revenue growth this quarter. Our AI learning devices remained one of our faster-growing business lines and received encouraging user feedback and market recognition,” said Alex Peng, TAL’s President & Chief Financial Officer.
“We will continue to enhance our products’ capabilities and adaptability across learning services and content solutions. As always, we are committed to helping more users discover learning solutions that meet their unique needs while also contributing positively to society.”
Financial Results for the Third Quarter of Fiscal Year 2025
Net Revenues
In the third quarter of fiscal year 2025, TAL reported net revenues of US$606.4 million, representing a 62.4% increase from US$373.5 million in the third quarter of fiscal year 2024.
Operating Costs and Expenses
In the third quarter of fiscal year 2025, operating costs and expenses were US$624.7 million, representing a 53.9% increase from US$405.8 million in the third quarter of fiscal year 2024. Non-GAAP operating costs and expenses, which excluded share-based compensation expenses, were US$609.2 million, representing a 58.7% increase from US$383.8 million in the third quarter of fiscal year 2024.
Cost of revenues increased by 65.5% to US$286.7 million from US$173.2 million in the third quarter of fiscal year 2024. Non-GAAP cost of revenues, which excluded share-based compensation expenses, increased by 67.2% to US$285.4 million, from US$170.7 million in the third quarter of fiscal year 2024.
Selling and marketing expenses increased by 85.6% to US$226.4 million from US$122.0 million in the third quarter of fiscal year 2024. Non-GAAP selling and marketing expenses, which excluded share-based compensation expenses, increased by 91.0% to US$222.4 million, from US$116.4 million in the third quarter of fiscal year 2024.
General and administrative expenses increased by 0.8% to US$111.5 million from US$110.7 million in the third quarter of fiscal year 2024. Non-GAAP general and administrative expenses, which excluded share-based compensation expenses, increased by 4.8% to US$101.4 million, from US$96.7 million in the third quarter of fiscal year 2024.
Total share-based compensation expenses allocated to the related operating costs and expenses decreased by 29.5% to US$15.5 million in the third quarter of fiscal year 2025 from US$22.0 million in the same period of fiscal year 2024.
Gross Profit
Gross profit increased by 59.6% to US$319.8 million from US$200.3 million in the third quarter of fiscal year 2024.
(Loss)/Income from Operations
Loss from operations was US$17.4 million in the third quarter of fiscal year 2025, compared to loss from operations of US$32.2 million in the third quarter of fiscal year 2024. Non-GAAP loss from operations, which excluded share-based compensation expenses, was US$1.9 million, compared to Non-GAAP loss from operations of US$10.2 million in the same period of the prior year.
Other Income, Net
Other income was US$18.2 million for the third quarter of fiscal year 2025, compared to other income of US$13.3 million in the third quarter of fiscal year 2024.
Impairment Loss on Long-term Investments
Impairment loss on long-term investments was nil for the third quarter of fiscal year 2025, compared to US$2.3 million for the third quarter of fiscal year 2024.
Income Tax (Expense)/Benefit
Income tax benefit was US$3.6 million in the third quarter of fiscal year 2025, compared to US$15.4 million of income tax expense in the third quarter of fiscal year 2024.
Net (Loss)/Income attributable to TAL Education Group
Net income attributable to TAL was US$23.1 million in the third quarter of fiscal year 2025, compared to net loss attributable to TAL of US$23.9 million in the third quarter of fiscal year 2024. Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was US$38.6 million, compared to Non-GAAP net loss attributable to TAL of US$1.9 million in the third quarter of fiscal year 2024.
Basic and Diluted Net (Loss)/Income per ADS
Basic and diluted net income per ADS were both US$0.04 in the third quarter of fiscal year 2025. Non-GAAP basic and diluted net income per ADS, which excluded share-based compensation expenses, were both US$0.06 in the third quarter of fiscal year 2025.
Cash Flow
Net cash provided by operating activities for the third quarter of fiscal year 2025 was US$378.0 million.
Cash, Cash Equivalents, and Short-Term Investments
As of November 30, 2024, the Company had US$2,240.8 million of cash and cash equivalents and US$1,595.0 million of short-term investments, compared to US$2,208.7 million of cash and cash equivalents and US$1,094.6 million of short-term investments as of February 29, 2024.
Deferred Revenue
As of November 30, 2024, the Company’s deferred revenue balance was US$825.6 million, compared to US$428.3 million as of February 29, 2024.
Financial Results for the First Nine Months of Fiscal Year 2025
Net Revenues
For the first nine months of fiscal year 2025, TAL reported net revenues of US$1,640.0 million, representing a 54.6% increase from US$1,060.9 million in the first nine months of fiscal year 2024.
Operating Costs and Expenses
In the first nine months of fiscal year 2025, operating costs and expenses were US$1,628.8 million, representing a 44.1% increase from US$1,130.7 million in the first nine months of fiscal year 2024. Non-GAAP operating costs and expenses, which excluded share-based compensation expenses, were US$1,578.2 million, representing a 48.6% increase from US$1,062.3 million in the first nine months of fiscal year 2024.
Cost of revenues increased by 57.1% to US$757.3 million from US$482.1 million in the first nine months of fiscal year 2024. Non-GAAP cost of revenues, which excluded share-based compensation expenses, increased by 58.3% to US$751.9 million from US$475.1 million in the first nine months of fiscal year 2024.
Selling and marketing expenses increased by 58.0% to US$530.8 million from US$335.9 million in the first nine months of fiscal year 2024. Non-GAAP selling and marketing expenses, which excluded share-based compensation expenses, increased by 63.6% to US$518.4 million from US$316.8 million in the first nine months of fiscal year 2024.
General and administrative expenses increased by 9.0% to US$340.7 million from US$312.7 million in the first nine months of fiscal year 2024. Non-GAAP general and administrative expenses, which excluded share-based compensation expenses, increased by 13.9% to US$307.9 million from US$270.4 million in the first nine months of fiscal year 2024.
Total share-based compensation expenses allocated to the related operating costs and expenses decreased by 26.0% to US$50.6 million in the first nine months of fiscal year 2025 from US$68.4 million in the same period of fiscal year 2024.
Gross Profit
Gross profit increased by 52.5% to US$882.7 million from US$578.8 million in the first nine months of fiscal year 2024.
(Loss)/Income from Operations
Income from operations was US$12.9 million in the first nine months of fiscal year 2025, compared to loss from operations of US$58.2 million in the same period of the prior year. Non-GAAP income from operations, which excluded share-based compensation expenses, was US$63.5 million, compared to US$10.2 million Non-GAAP income from operations in the same period of the prior year.
Other Income, Net
Other income was US$51.8 million for the first nine months of fiscal year 2025, compared to other income of US$11.5 million in the same period of the prior year.
Impairment Loss on Long-term Investments
Impairment loss on long-term investments was US$8.7 million for the first nine months of fiscal year 2025, compared to US$33.0 million for the first nine months of fiscal year 2024.
Income Tax (Expense)/Benefit
Income tax expense was US$24.3 million in the first nine months of fiscal year 2025, compared to US$8.9 million of income tax expense in the first nine months of fiscal year 2024.
Net (Loss)/Income Attributable to TAL Education Group
Net income attributable to TAL was US$91.9 million in the first nine months of fiscal year 2025, compared to net loss attributable to TAL of US$31.1 million in the first nine months of fiscal year 2024. Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was US$142.5 million, compared to US$37.3 million Non-GAAP net income attributable to TAL in the same period of the prior year.
Cash Flow
Net cash provided by operating activities for the first nine months of fiscal year 2025 was US$624.3 million.
Basic and Diluted Net (Loss)/Income per ADS
Basic and diluted net income per ADS were both US$0.15 in the first nine months of fiscal year 2025. Non-GAAP basic net income per ADS, which excluded share-based compensation expenses, was US$0.24, and Non-GAAP diluted net income per ADS, which excluded share-based compensation expenses, was US$0.23 in the first nine months of fiscal year 2025.
Conference Call
The Company will host a conference call and live webcast to discuss its financial results for the third fiscal quarter of fiscal year 2025 ended November 30, 2024 at 7:00 a.m. Eastern Time on January 23, 2025 (8:00 p.m. Beijing time on January 23, 2025).
Please note that you will need to pre-register for conference call participation at https://register.vevent.com/register/BI252a8b58f53a47cebdf55358dda997b1.
Upon registration, you will receive an email containing participant dial-in numbers and unique Direct Event Passcode. This information will allow you to gain immediate access to the call. Participants may pre-register at any time, including up to and after the call start time.
A live and archived webcast of the conference call will be available on the Investor Relations section of TAL’s website at https://ir.100tal.com/.
Safe Harbor Statement
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,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, TAL Education Group’s strategic and operational plans contain forward-looking statements. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports 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 statements about the Company’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: the Company’s ability to continue to provide competitive learning services and products; the Company’s ability to continue to recruit, train and retain talents; the Company’s ability to improve the content of current course offerings and develop new courses; the Company’s ability to maintain and enhance its brand; the Company’s ability to maintain and continue to improve its teaching results; and the Company’s ability to compete effectively against its competitors. Further information regarding these and other risks is included in the Company’s reports filed with, or furnished to the U.S. Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of this press release, and TAL Education Group undertakes no duty to update such information or any forward-looking statement, except as required under applicable law.
About TAL Education Group
TAL Education Group is a smart learning solutions provider in China. The acronym “TAL” stands for “Tomorrow Advancing Life”, which reflects our vision to promote top learning opportunities for students through both high-quality teaching and content, as well as leading edge application of technology in the education experience. TAL Education Group offers comprehensive learning solutions to students from all ages through diversified class formats. Our learning solutions mainly cover enrichment learnings programs and some academic subjects in and out of China. Our ADSs trade on the New York Stock Exchange under the symbol “TAL”.
About Non-GAAP Financial Measures
In evaluating its business, TAL considers and uses the following measures defined as non-GAAP financial measures by the SEC as supplemental metrics to review and assess its operating performance: non-GAAP operating costs and expenses, non-GAAP cost of revenues, non-GAAP selling and marketing expenses, non-GAAP general and administrative expenses, non-GAAP income/(loss) from operations, non-GAAP net income/(loss) attributable to TAL, non-GAAP basic and non-GAAP diluted net income/(loss) per ADS. To present each of these non-GAAP measures, the Company excludes share-based compensation expenses. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the table captioned “Reconciliations of non-GAAP measures to the most comparable GAAP measures” set forth at the end of this release.
TAL believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance and liquidity by excluding share-based expenses that may not be indicative of its operating performance from a cash perspective. TAL believes that both management and investors benefit from these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management’s internal comparisons to TAL’s historical performance and liquidity. TAL computes its non-GAAP financial measures using the same consistent method from quarter to quarter and from period to period. TAL believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. A limitation of using non-GAAP measures is that these non-GAAP measures exclude share-based compensation charges that have been and will continue to be for the foreseeable future a significant recurring expense in the Company’s business. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables have more details on the reconciliations between GAAP financial measures that are most directly comparable to non-GAAP financial measures.
For further information, please contact:
Jackson Ding
Investor Relations
TAL Education Group
Tel: +86 10 5292 6669-8809
Email: ir@tal.com
TAL EDUCATION GROUP |
||||
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS |
||||
(In thousands of U.S. dollars) |
||||
As of February 29, |
As of November 30, |
|||
ASSETS |
||||
Current assets |
||||
Cash and cash equivalents |
$ 2,208,756 |
$ 2,240,827 |
||
Restricted cash-current |
167,656 |
306,549 |
||
Short-term investments |
1,094,593 |
1,595,027 |
||
Inventory |
68,328 |
98,021 |
||
Amounts due from related parties-current |
343 |
387 |
||
Prepaid expenses and other current assets |
159,498 |
207,943 |
||
Total current assets |
3,699,174 |
4,448,754 |
||
Restricted cash-non-current |
81,064 |
41,078 |
||
Property and equipment, net |
405,319 |
460,566 |
||
Deferred tax assets |
4,620 |
5,165 |
||
Rental deposits |
16,947 |
20,669 |
||
Intangible assets, net |
1,988 |
964 |
||
Land use right, net |
189,049 |
184,937 |
||
Amounts due from related parties-non-current |
59 |
59 |
||
Long-term investments |
284,266 |
276,254 |
||
Long-term prepayments and other non-current assets |
14,359 |
28,055 |
||
Operating lease right-of-use assets |
231,104 |
322,563 |
||
Total assets |
$ 4,927,949 |
$ 5,789,064 |
||
LIABILITIES AND EQUITY |
||||
Current liabilities |
||||
Accounts payable |
$ 127,321 |
$ 189,271 |
||
Deferred revenue-current |
400,286 |
780,909 |
||
Amounts due to related parties-current |
96 |
107 |
||
Accrued expenses and other current liabilities |
491,911 |
625,274 |
||
Short-term debt |
– |
55,231 |
||
Operating lease liabilities, current portion |
62,604 |
82,513 |
||
Total current liabilities |
1,082,218 |
1,733,305 |
||
Deferred revenue-non-current |
27,993 |
44,710 |
||
Deferred tax liabilities |
2,360 |
4,040 |
||
Operating lease liabilities, non-current portion |
176,614 |
243,346 |
||
Total liabilities |
1,289,185 |
2,025,401 |
||
Equity |
||||
Class A common shares |
152 |
154 |
||
Class B common shares |
49 |
49 |
||
Additional paid-in capital |
4,256,957 |
4,280,212 |
||
Statutory reserve |
165,138 |
164,370 |
||
Accumulated deficit |
(694,270) |
(601,600) |
||
Accumulated other comprehensive loss |
(65,928) |
(70,493) |
||
Total TAL Education Group’s equity |
3,662,098 |
3,772,692 |
||
Noncontrolling interests |
(23,334) |
(9,029) |
||
Total equity |
3,638,764 |
3,763,663 |
||
Total liabilities and equity |
$ 4,927,949 |
$ 5,789,064 |
TAL EDUCATION GROUP |
|||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
|||||||
(In thousands of U.S. dollars, except share, ADS, per share and per ADS data) |
|||||||
For the Three Months Ended |
For the Nine Months Ended November 30, |
||||||
2023 |
2024 |
2023 |
2024 |
||||
Net revenues |
$ 373,506 |
$ 606,446 |
$ 1,060,877 |
$ 1,639,994 |
|||
Cost of revenues (note 1) |
173,180 |
286,689 |
482,075 |
757,329 |
|||
Gross profit |
200,326 |
319,757 |
578,802 |
882,665 |
|||
Operating expenses (note 1) |
|||||||
Selling and marketing |
121,977 |
226,441 |
335,902 |
530,769 |
|||
General and administrative |
110,678 |
111,537 |
312,707 |
340,718 |
|||
Total operating expenses |
232,655 |
337,978 |
648,609 |
871,487 |
|||
Government subsidies |
144 |
789 |
11,639 |
1,682 |
|||
(Loss)/income from operations |
(32,185) |
(17,432) |
(58,168) |
12,860 |
|||
Interest income, net |
20,076 |
21,491 |
64,033 |
64,410 |
|||
Other income, net |
13,324 |
18,150 |
11,511 |
51,767 |
|||
Impairment loss on long-term |
(2,270) |
– |
(33,031) |
(8,692) |
|||
(Loss)/income before income tax |
(1,055) |
22,209 |
(15,655) |
120,345 |
|||
Income tax (expense)/benefit |
(15,374) |
3,582 |
(8,875) |
(24,348) |
|||
Loss from equity method |
(7,644) |
(2,765) |
(6,936) |
(4,337) |
|||
Net (loss)/income |
(24,073) |
23,026 |
(31,466) |
91,660 |
|||
Add: Net loss attributable to |
127 |
43 |
385 |
242 |
|||
Total net (loss)/income attributable to TAL |
$ (23,946) |
$ 23,069 |
$ (31,081) |
$ 91,902 |
|||
Net (loss)/income per common |
|||||||
Basic |
$ (0.12) |
$ 0.11 |
$ (0.15) |
$ 0.46 |
|||
Diluted |
(0.12) |
0.11 |
(0.15) |
0.45 |
|||
Net (loss)/income per ADS (note |
|||||||
Basic |
$ (0.04) |
$ 0.04 |
$ (0.05) |
$ 0.15 |
|||
Diluted |
(0.04) |
0.04 |
(0.05) |
0.15 |
|||
Weighted average shares used in |
|||||||
Basic |
200,134,875 |
201,905,486 |
204,020,823 |
201,746,602 |
|||
Diluted |
200,134,875 |
204,949,612 |
204,020,823 |
205,093,389 |
|||
Note1: Share-based compensation expenses are included in the operating costs and expenses as follows: |
|||||||
For the Three Months |
For the Nine Months |
||||||
Ended November 30, |
Ended November 30, |
||||||
2023 |
2024 |
2023 |
2024 |
||||
Cost of revenues |
$ 2,499 |
$ 1,271 |
$ 6,989 |
$ 5,426 |
|||
Selling and marketing expenses |
5,558 |
4,082 |
19,120 |
12,410 |
|||
General and administrative expenses |
13,944 |
10,159 |
42,288 |
32,780 |
|||
Total |
$ 22,001 |
$ 15,512 |
$ 68,397 |
$ 50,616 |
|||
Note 2: Three ADSs represent one Class A common Share. |
TAL EDUCATION GROUP |
|||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF |
|||||||
COMPREHENSIVE (LOSS)/INCOME |
|||||||
(In thousands of U.S. dollars) |
|||||||
For the Three Months Ended November 30, |
For the Nine Months Ended November 30, |
||||||
2023 |
2024 |
2023 |
2024 |
||||
Net (loss)/income |
$ (24,073) |
$ 23,026 |
$ (31,466) |
$ 91,660 |
|||
Other comprehensive income/ |
18,356 |
(21,512) |
(26,239) |
(4,348) |
|||
Comprehensive (loss)/income |
(5,717) |
1,514 |
(57,705) |
87,312 |
|||
Add: Comprehensive |
557 |
(2,308) |
(356) |
25 |
|||
Comprehensive (loss)/income |
$ (5,160) |
$ (794) |
$ (58,061) |
$ 87,337 |
TAL EDUCATION GROUP |
|||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF |
|||||||
CASH FLOWS |
|||||||
(In thousands of U.S. dollars) |
|||||||
For the Three Months Ended November 30, |
For the Nine Months Ended November 30, |
||||||
2023 |
2024 |
2023 |
2024 |
||||
Net cash provided by operating |
$ 247,123 |
$ 378,038 |
$ 329,918 |
$ 624,255 |
|||
Net cash (used in)/provided by |
(208,847) |
(214,435) |
133,955 |
(532,739) |
|||
Net cash provided by/(used in) |
207 |
48,731 |
(233,301) |
41,937 |
|||
Effect of exchange rate |
6,805 |
(4,834) |
(3,111) |
(2,475) |
|||
Net increase in cash, cash |
45,288 |
207,500 |
227,461 |
130,978 |
|||
Cash, cash equivalents and |
2,477,080 |
2,380,954 |
2,294,907 |
2,457,476 |
|||
Cash, cash equivalents and |
$ 2,522,368 |
$ 2,588,454 |
$ 2,522,368 |
$ 2,588,454 |
TAL EDUCATION GROUP |
|||||||
Reconciliation of Non-GAAP Measures to the Most Comparable GAAP Measures |
|||||||
(In thousands of U.S. dollars, except share, ADS, per share and per ADS data) |
|||||||
For the Three Months Ended November 30, |
For the Nine Months |
||||||
2023 |
2024 |
2023 |
2024 |
||||
Cost of revenues |
$ 173,180 |
$ 286,689 |
$ 482,075 |
$ 757,329 |
|||
Share-based compensation expense in |
2,499 |
1,271 |
6,989 |
5,426 |
|||
Non-GAAP cost of revenues |
170,681 |
285,418 |
475,086 |
751,903 |
|||
Selling and marketing expenses |
121,977 |
226,441 |
335,902 |
530,769 |
|||
Share-based compensation expense in |
5,558 |
4,082 |
19,120 |
12,410 |
|||
Non-GAAP selling and marketing |
116,419 |
222,359 |
316,782 |
518,359 |
|||
General and administrative expenses |
110,678 |
111,537 |
312,707 |
340,718 |
|||
Share-based compensation expense in |
13,944 |
10,159 |
42,288 |
32,780 |
|||
Non-GAAP general and |
96,734 |
101,378 |
270,419 |
307,938 |
|||
Operating costs and expenses |
405,835 |
624,667 |
1,130,684 |
1,628,816 |
|||
Share-based compensation expense in |
22,001 |
15,512 |
68,397 |
50,616 |
|||
Non-GAAP operating costs and |
383,834 |
609,155 |
1,062,287 |
1,578,200 |
|||
(Loss)/income from operations |
(32,185) |
(17,432) |
(58,168) |
12,860 |
|||
Share based compensation expenses |
22,001 |
15,512 |
68,397 |
50,616 |
|||
Non-GAAP (loss)/income from |
(10,184) |
(1,920) |
10,229 |
63,476 |
|||
Net (loss)/income attributable to |
(23,946) |
23,069 |
(31,081) |
91,902 |
|||
Share based compensation expenses |
22,001 |
15,512 |
68,397 |
50,616 |
|||
Non-GAAP net (loss)/income |
$ (1,945) |
$ 38,581 |
$ 37,316 |
$ 142,518 |
|||
Net (loss)/income per ADS |
|||||||
Basic |
$ (0.04) |
$ 0.04 |
$ (0.05) |
$ 0.15 |
|||
Diluted |
(0.04) |
0.04 |
(0.05) |
0.15 |
|||
Non-GAAP net (loss)/income per ADS |
|||||||
Basic |
$ (0.00) |
$ 0.06 |
$ 0.06 |
$ 0.24 |
|||
Diluted |
(0.00) |
0.06 |
0.06 |
0.23 |
|||
ADSs used in calculating net (loss)/income per ADS |
|||||||
Basic |
600,404,625 |
605,716,458 |
612,062,469 |
605,239,806 |
|||
Diluted |
600,404,625 |
614,848,836 |
612,062,469 |
615,280,167 |
|||
ADSs used in calculating Non-GAAP net (loss)/income per ADS |
|||||||
Basic |
600,404,625 |
605,716,458 |
612,062,469 |
605,239,806 |
|||
Diluted |
600,404,625 |
614,848,836 |
622,332,267 |
615,280,167 |
|||
Note 3: The tax effect of share-based compensation expenses was immaterial in the third quarter and in the first nine months of fiscal year 2025. |
European Wellness Biomedical Group (EWBG) Partners with Toviyah Life to Unveil Cutting-Edge Health Technology
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KOTA KINABALU, Malaysia, Jan. 23, 2025 /PRNewswire/ — The European Wellness Biomedical Group (EWBG) and Toviyah Life Pte Ltd (Toviyah) have announced a new partnership aimed at improving wellness through a handheld device called BeLight. The two companies signed a Memorandum of Understanding (MOU) today, marking an exciting step towards making wellness easier for everyone.
Prof. Dato’ Sri Dr. Mike Chan and Kevin Chua exchange MOU signings, marking a significant partnership between European Wellness Biomedical Group and Toviyah Life Pte Ltd. This collaboration aims to revolutionize wellness solutions.
The BeLight device is a cutting-edge, blood-targeted low-level laser therapy (LLLT) tool designed to enhance overall wellness. Utilizing advanced European technology, it emits a 650nm laser through five diodes with a 5mW output, providing safe and effective treatment in just 30 minutes per session, up to three times a day. This device is ideal for improving energy levels and addressing chronic conditions, offering a painless, non-invasive, and drug-free solution. With its ergonomic design, BeLight is perfect for on-the-go use and comes with a 1-year international warranty for added peace of mind.
This collaboration combines EWBG’s experience in the wellness market with Toviyah’s innovative BeLight device, which aims to provide simple and effective wellness solutions that anyone can use.
“We’re really excited to work with Toviyah. Their advanced laser technology fits perfectly with our mission to make wellness accessible to all,” said Prof. Dato’ Sri Dr. Mike Chan, Founder and Chairman of EWBG. “I believe this is one of the best inventions. It’s incredibly practical, won’t slip from your hand, and boasts a strong grip.”
Kevin Chua, CEO of Toviyah, highlighted the importance of blood circulation, stating, “At Toviyah Life, our mission is to empower individuals with a portable solution that enhances blood circulation and cellular function anytime, anywhere.” He added, “We are not just launching a groundbreaking product—the BeLight device—but also sharing the future of personalized health and wellness, starting right here in Malaysia.”
The MoU signing was attended by key members from both companies, including Francis Chung, Group COO, Dr. Glen Alvin, Director of Clinics at EW Clinic, along with EWBG’s Medical team. Malaysia will serve as the first market for these new wellness solutions, allowing the companies to gather feedback and adjust their approach before expanding to other regions. This careful planning ensures that the products will meet the varied needs of consumers effectively.
“I want to extend my heartfelt congratulations to Toviyah Life and Kevin for their hard work, years of planning, and dedication to prototyping. It takes immense brainpower, effort, and resilience to bring such a device to fruition,” Prof. Mike Chan expressed during the ceremony.
In closing, Prof. Mike Chan remarked, “We lead the way, and while others may follow, it’s perfectly fine. We are continually advancing to the next level.”
EWBG is a well-known leader in the field of health and wellness for four decades, focusing on innovative and non-invasive treatments. The company works in several countries and collaborates with top researchers and medical institutions to offer advanced wellness solutions. They are committed to helping people take charge of their health through education and a range of targeted organ-specific and brain-specific stem cell therapies designed to enhance vitality and well-being.
Founded in 2010, Toviyah Life is a global maker of health and wellness devices. Their mission is to create user-friendly products that promote better health. One of their latest innovations is the BeLight handheld device, which uses non-invasive laser therapy to improve health, sleep, energy levels, and mood.
This partnership between EWBG and Toviyah promises to bring exciting new wellness solutions that are both effective and easy to use, making it easier for everyone to take care of their health.
CONTACT: Justin Chew, +60-17-890 2530, justin.chew@european-wellness.com
Laos Mining Sector Attracts Over USD 2.4 Billion in 2024 Investments

Laos’ mining industry attracted nearly USD 2.5 billion in investments in 2024, surpassing annual targets and showcasing the sector’s critical role in driving economic growth, according to the Department of Mines Management report.
Fourth Time on the List! Kingdee Credit Tech Earns Spot on “2024 KMPG China Fintech 50”
SHENZHEN, China, Jan. 23, 2025 /PRNewswire/ — Recently, the “2024 KPMG China Fintech 50” list release and award ceremony was held in Shanghai. Kingdee Credit Technology (Shenzhen) Co., Ltd. (“Kingdee Credit Tech”), a leader in the field of enterprise digital credit, was recognized for the fourth time for its outstanding contributions to empowering inclusive finance over the past decade.
Since the launch of KPMG China’s first “Fintech 50” list in 2016, the “KPMG Fintech 50” has attracted significant attention from the industry. The selection committee for this year’s list included dozens of professionals and representatives from KPMG’s global and China offices, reflecting the cutting-edge technology and innovation in China’s fintech sector.
In his speech, Zhang Chudong, KPMG’s Asia-Pacific and China Financial Services Managing Partner, emphasized that the development of cutting-edge technologies like generative AI is driving fintech innovation in areas such as financial product development, service optimization, and risk management, empowering the five major areas of the financial industry: technology finance, green finance, inclusive finance, pension finance, and digital finance.
In the rapidly transforming fintech field, data has become the key fuel driving innovation and decision-making. Kingdee Credit Tech’s inclusion for the fourth time is a testament to its ongoing commitment to “ensuring every enterprise has digital credit.” By leveraging core technologies such as AI, big data, graph computing, and RPA, Kingdee Credit Tech integrates multi-dimensional data from authorized financial, tax, invoice, and corporate legal sources. Through self-developed and bank-collaborated credit risk assessment models, the company supports financial institutions in achieving precise marketing and risk management, effectively contributing to the growth of the real economy. Currently, Kingdee Credit Tech collaborates with over 200 banks and financial institutions and has helped 700,000 small businesses access over 180 billion yuan in digital credit.
Kingdee Credit Tech’s “Industry Transaction Map” has been widely applied in areas such as microfinance and supply chain finance, offering banks accurate solutions for reaching high-quality enterprises within the industrial chain. With a vast accumulation of authorized data and advanced graph computing technology, banks can accurately identify the relationship networks and transaction links of enterprises and their upstream and downstream partners. This allows them to filter out high-quality companies and even identify small businesses with up to six layers of transactional or equity relationships with core enterprises, thereby enhancing customer acquisition and risk control efficiency. For example, in partnership with JD Technology, Kingdee Credit helped 500,000 businesses within the industry map gain higher supply chain financing, effectively improving liquidity in the supply chain. In the microfinance sector, Kingdee Credit Tech launched the Kingdee Feiqi App, providing small enterprises with efficient and intelligent online financing services.
In the field of small and micro-enterprise services, Kingdee Credit Tech has launched Ailit, a SaaS APP for inventory and sales management specifically tailored for Chinese businesses and entrepreneurs. It supports multiple languages, currencies, and exchange rate switching, including Simplified Chinese, Traditional Chinese, English, Portuguese, and Spanish. Ailit meets the needs of overseas clients in areas such as invoicing, inventory management, financial reconciliation, and business analysis, helping to enhance the operational efficiency of their international businesses.
Looking ahead, Kingdee Credit Tech will continue to leverage the value of digital credit and actively explore innovative fintech applications to support the high-quality development of digital inclusive finance.