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AIED2019: How the World’s Top AI Experts Apply AI to Education

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AI has become the core driving force of the new round of industrial transformation and ushered in a new period of industrial explosion. How to break through the barriers between technology and industry has become a heated issue. AI in education has become a favorite target for capital investment. Information-based education, quality education, language training and K12 primary and secondary school extracurricular tutoring are witnessing iterative research results in “AI+Education”. What are the latest AI technologies in education? What is the current condition for their application? What’s the future for “AI+Education”?

On June 26-29, the 20th AIED (AI in Education) successfully ended in Chicago. Hundreds of top researchers and experts in AI+ education, computer science, psychology and other fields from all over the world gathered together at the conference to share and discuss the latest research results in AI, as well as the experience and challenges of AI application and AI products. First Insight, as an exclusively invited media in China, reported the whole process of AIED.

Organized by the 25-year-old International Association for AI Education (IAIED), AIED has over 1,000 members from more than 40 countries. They are experts and scholars in the fields of computer science, education and psychology. At the conference, Dr. Luis Von Ahn, founder of Duolingo, a famous language learning software; Candace Thille, professor of Stanford University and director of Amazon Learning Science Center; Nancy Law, professor of Hong Kong University; Jutta Treviranus, professor of OCAD University in Canada; and Richard Tong, chief architect of Squirrel AI Learning among others delivered keynote speeches and participated in round-table discussions. The co-chairs of the conference were Bruce McLauren, professor of Carnegie Mellon University in the US, and Rose Luckin, professor of education at University College London in UK.

AI is not a new thing in education. Although “AI+ Education” is a favorite target for capital investment, there are still doubts about its authenticity. Robby Robson, CEO of Eduworks and member of IEEE Standards Committee, pointed out that AI technology has been developing all the time and that all advanced machine behaviors are inseparable from AI, but there are five problems as follows:

1. Producers do not participate in research

2. Researchers are not engaged in production

3. Consumers do not know what to believe

4. Buyers do not know what to buy

5. Favorable technologies have not been applied to production.

In short, it is the separation between technology and industry that prevents AI from being applied. Parents of children in K12 primary and secondary schools are the true consumers of AI-related products, so it is especially crucial for them to understand and accept the important role of technology. Robby Robson also pointed out that the core of the application of AI technology is simple, that is, classification and decision. Only by understanding these two things can we find a way to connect machine learning with teaching.

At present, AI+Education mainly has two modes, namely the alternative and simplified traditional educational resources, and the personalized education. Alternative education emphasizes the application of technology to replace teachers in performing some tasks or strengthen teachers’ roles. Such products have developed rapidly, but their functions are relatively single. Personalized education using AI aims to complete the closed loop of “teaching, practicing and evaluating” and create customized learning method for each student, so that they will know which parts should be given up and which parts they should learn.

Intelligent adaptive system is a teaching method that uses algorithms to detect students’ learning paths and provide personalized and customized learning contents for students. Richard Tong, Chief architect of Squirrel AI Learning by Yixue Group said at the conference that, “Traditional school is like a bus which provides services in a simple and convenient manner, but it fails to take each student to the exact location they want to go to. Intelligent adaptive system is like a taxi that serves each student exclusively to meet their needs.”

Richard Tong, chief architect of Squirrel AI Learning, talked about the connection between human learning and machine learning as well as the way to completely change education and learning through AI. First, he talked about the reasons for applying AI in education and the significance of AI technology in replacing, enhancing, improving and redefining education. He then emphasized the continuous one-to-one individualized education for students and the change of the role of real teachers from instructors to psychological tutors for students, both of which are required by education revolution. He then introduced the reasons for the rapid development of Squirrel AI Learning from its business model, the experience of the application of AI, massive data in learning scenarios and strong computing power.

Squirrel AI Learning has created an adaptive learning engine driven by AI which integrates Mentality, Capability and Methodology (MCM), Probabilistic Knowledge State (PKS) model , Multimodal Integrated Behavioral Analysis (MIBA) using deep learning technology, Nano-Scale Knowledge Component (NKC) as well as other AI technologies like reinforced learning. This engine can promote the integration of AI and adaptive education and affect future education.

Richard Tong, chief architect of Squirrel AI LearningProfessor Rose Luckin, President of the Conference; and Ken Koedinger, Professor of Carnegie Mellon University and Chief Learning Scientist of Squirrel AI Learning, had a fireside dialogue. Richard Tong shared the success experience of Squirrel AI Learning in applying the above excellent researches into practice. The new model of “AI intelligent adaptive system + human teachers” makes for the maximum teaching effect and personalized learning experience for students. Professor Ken Koedinger of Carnegie Mellon University, a pioneer in cognitive science, shared his years’ experience of applying his research achievement in cognitive science and brain science to intelligent adaptive education products. Professor Ken Koedinger, chief learning officer of Squirrel AI Learning, discussed with Professor Rose Luckin about the technologies and values of Squirrel AI Learning’s intelligent adaptive teaching system and Professor Rose Luckin fully expressed his recognition. Richard Tong also held an industry forum discussion with Amy Baylor, program director of the National Nature Foundation of the United StatesBrent Benson, online enterprise architect of Harvard Business School, and Kumar Garg, senior director of – Schmidt Futures, a public welfare organization set up by Eric Schmidt, co-founder of Google, to share the opportunities and challenges of their respective organizations in education science and technology. Richard talked about the importance of the cooperation between industry and academia. At present, there are four types of research fields and projects in education: learner model (to improve diagnosis and understanding of learning problems), domain model (to strengthen ontology and content), educational model (to enhance recommendation and channel optimization), and interactive model (to enhance interaction, feedback and communication). He also said that industry and academia can cooperate through various academic conferences and workshops, such as education-science and technology conferences, AI-machine learning conferences, industry conferences, workshops, tutorial samples, research papers and competitions.

On June 29, Squirrel AI Learning gathered IEEE AIS experts and professional audience of AIED to hold a workshop at DePaul University in the US to have a discuss on standardization of “AI+ Education”. Richard Tong, chief architect of Squirrel AI LearningRobert Sottilare, senior director of Soar TechnologyRobby Robson, member of IEEE Standards Committee and CEO of EduworksXiangen Hu, professor of the University of MemphisAvron Barr, Chairman of IEEE Learning Technology Standards Committee, together with experts, researchers and practitioners in AI education from Carnegie Mellon UniversityDePaul University as well as from BrazilCyprus and other countries, put forward their own opinions and had heated discussions about the standardization development of AI+ Education, AI’s integration with industry products, the application of intelligent adaptive education system, relevant algorithms and frameworks, etc.

For example, Robert Sottilare, senior director of Soar Technology, talked about the “Cases Study of Standards and Suggested Measures in Monitoring Tasks of Adaptive Teaching System”. AIS teaching areas include: cognition, problem solving and decision-making tasks, thinking; emotion, problem solving and decision-making, feeling; mental exercise, physical task; group, tasks involving two or more people, cooperated discussion. He finally asked a question to other scholars in the workshop: “The commonness in the instruction field can fulfill the following standards, namely the data exchanged in various AIS processes and the structural model in the domain. But what should the industry do to enable the AIS market to flourish? This is the next question to think about.”

As a leading enterprise in “AI+ Education”, Squirrel AI Learning is China’s first AI company to apply AI adaptive learning technology to primary and secondary education. It has successfully developed China’s first AI adaptive learning engine with complete independent intellectual property rights and advanced algorithms as the core. It uses more than ten algorithms and deep learning technologies and has developed many AI application technologies such as MCM capability value training, root cause reconstruction of knowledge map, nano-scale knowledge point splitting at the most basic level, relevance probability of non-relevance knowledge points, MIBA Multimodal Integrated Behavioral Analysis AI system, etc., the first of their kinds in the world.

As a Unicorn in China’s “AI+ Education” industry, Squirrel AI Learning has accumulated nearly 2 million student data in the past four years and has set up nearly 2,000 learning centers over 400 cities nationwide. Based on its deep understanding of education and continuous investment in technology, Squirrel AI Learning, a company with more learning data than others, will take personalized learning and improving learning efficiency as the direction of its future product development.

China’s AI technology is not inferior to that in foreign countries, but the development of AI+ Education lags far behind Europe and the United States since there are more than 50 AI education companies in Europe and the United Statesand 23 million users in the United States are using AI education products with an annual growth rate of between 30% and 40%. Given the rapid development of AI+education overseas and the huge development potential in China, Squirrel AI Learning, a leading enterprise in China, is actively tapping overseas resources and introducing and cooperating with global talents to develop the most advanced AI technology so as to make excellent intelligent adaptive learning products in line with the national conditions for Chinese students.

Squirrel AI Learning also plans to expand overseas to promote China’s advanced education platforms abroad, make products based on its existing educational knowledge maps, cooperate with overseas projects and build a curriculum system of mathematics that can be used worldwide.

At the conference, Professor Xiangen Hu of the University of Memphis shared his different views on the application of AI technology in education. He said: “AI technology should not be limited to the existing intelligent tutoring system – an easy-to-understand teaching system.” He proposed SIAIS (Self-Improvable Adaptive Instructional Systems) which consists of four parts. The key for this system is that learners and learning resources should match each other and they should make common progress. The core of “Self-Improvable Learning Resources” is educational games, functional teaching assistant systems and other dynamic contents. Therefore, it is necessary to define the variable but controllable modular components in the dynamic contents, combine them with big data and improve tutoring strategies through the interaction between learners and the dynamic resources.

As Nancy Law, a professor of the University of Hong Kong, said at the conference, “We should learn how to make full use of science and technology instead of being manipulated by it”. We should not turn technology into a gimmick, thus exacerbating arbitrary charge in the industry. Instead, we should use technology to provide better and fairer educational resources. Dr. Luis Von Ahn, founder of Duolingo and father of identifying code, said that although Duolingo is a technological product, his company always believes that education is the fairest way to change one’s fate, so they provide free services to customers and enhance learning entertainment with technology based on their understanding of learners’ changing learning psychology to help students become more motivated and improve users’ loyalty. Not just helping students solve learning problems and get high scores in exams, Squirrel AI Learning’s intelligence adaptive system aims to enable them to acquire good learning methods, get to know their advantages and disadvantages in thinking and personality. In this way, Squirrel AI Learning hopes to provide quality education for students.

Bruce McLauren, professor of Carnegie Mellon University, said in an interview that the new generation of users grow up together with technology. Students born in the era of Internet are eager for new technologies, new tools and new learning methods, which is both a challenge and an opportunity for enterprises. Only enterprises that provide quality education will be the winners.

SOURCE Squirrel AI Learning

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Hakluyt’s 2023 accounts record another year of strong growth

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LONDON, March 28, 2024 /PRNewswire/ — Hakluyt, the global strategic advisory firm for businesses and investors, recorded another period of robust financial growth in the year ending 30 June 2023, expanding its core advisory business while investing for the future.

The firm’s financial results, which were filed today with Companies House, show that revenue increased by 9% to a new record level, with a slightly lower profit margin reflecting substantial investment in the firm’s people and geographic footprint. During this period, Hakluyt opened new offices in Abu Dhabi and Toronto, and continued to recruit new talent worldwide.

Hakluyt also announced its first investment fund, Hakluyt Capital, during this period, which gives some of the world’s most promising growth-stage companies access to the firm’s unrivalled global connectivity, advice and expertise.  

Hakluyt’s managing partner, Varun Chandra, said: “As business leaders continue to face increasingly complex challenges, we have invested in the international reach and expertise of our team, which enable us to provide world-class counsel and connectivity where they are most needed. I am pleased that our core business grew substantially in the financial year 2022-23, and that operating profits remained strong. My thanks to every member of the brilliant Hakluyt team who has helped us deliver against our plan.”

Notes to editors:

Hakluyt is a strategic advisory firm that works with corporate leaders and investors around the world on their most important commercial issues. For more information on the firm, please visit www.hakluytandco.com 

 

 

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Tigermed Reports Full Year 2023 Results

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HANGZHOU, China, March 28, 2024 /PRNewswire/ — Hangzhou Tigermed Consulting Co., Ltd. (“Tigermed” or the “company”) (Stock code: 300347.SZ / 3347.HK), a leading global provider of integrated research and development solutions for biopharmaceutical and medical device industry, announced its annual results for the year ended December 31, 2023 (the “Reporting Period”).

This press release is for information and summary only and is not intended to provide any representation, in whole or in part, of the relevant matters. For further information, please refer to the 2023 annual results and relevant announcements published on the websites of the Shenzhen Stock Exchange (www.szse.cn) and the Stock Exchange of Hong Kong (www.hkexnews.hk).

All financials disclosed in this press release are prepared based on International Financial Reporting Standards (IFRS) except for those specifically noted otherwise.

The 2023 Annual Results of the Company has been audited.

Financial Highlights:

  • Total revenue achieved 4.2% year-over-year (“YoY”) growth to RMB 7,384 million during the Reporting Period.
  • Adjusted Non-IFRS net profit attributable to the owners of the Company increased by 7.2% YoY to RMB 1,786 million during the Reporting Period.
  • Segment revenue generated from Clinical Trial Solutions reached RMB 4,168.1 million and that from Clinical-related and Lab Services reached RMB 3,215.9 million, representing a YoY growth of 1.0% and 8.6%, respectively.
  • Geographically, China’s revenue increased by 17.6% YoY to RMB 4,234.5 million. The company’s overseas revenue decreased by 9.6% YoY to RMB 3,149.5 million in 2023.

Business Highlights

Tigermed continued to empower pharmaceutical and medical device innovation in 2023 and navigated the complexities of the life science sector, solidifying its leading position in the clinical CRO industry. From 2004 to 2023, Tigermed provided services to 61% of all Class I new drug approvals in China. During the reporting period, Tigermed assisted in the approval of 22 Class I new drugs and 6 innovative medical devices in China. Additionally, Tigermed opened its International Headquarters in Hong Kong in 2023, serving as the main hub for overseas functional support and business development. As of December 31, 2023, Tigermed had 9,701 total employees in 28 countries worldwide, including 1,632 overseas employees.

In the clinical trial solutions field, as of December 31, 2023, Tigermed has 752 ongoing drug clinical trials and 465 ongoing medical device & IVD projects. In 2023, Regulatory Affairs had a total of 1,009 accumulated project experience, added 29 new US FDA IND projects, and assisted 9 products to receive approvals in China. Medical Translation added 86 new customers in 2023. Besides, Medical Device & IVD assisted 6 innovative medical device products to receive China launch approvals. Moreover, Real World Studies projects have been further expanded to multiple therapeutic areas, including oncology, rare diseases, orthopaedics, etc.

In the clinical-related and lab services field, as of December 31, 2023, Tigermed Data Management & Statistical Analysis (“DMSA”) team had over 850 professionals globally, serving a total of 340 customers, with ongoing projects increasing to 826.

In addition, Tigermed Site Management (“SMO”) had 1,952 ongoing SMO projects as of December 31, 2023 and provided services to support 50 Class I innovative drug approvals in China accumulatively. Tigermed’s Clinical Trial Sites of Excellence (“E-Site”) had 224 core collaborative sites and 74 green channel sites. Furthermore, Independent Central Imaging has provided services for over 280 clinical trials, with 25 products approved.

In 2023, Tigermed laboratory services–Frontage, completed the acquisition of Nucro-Technics Holdings, Inc. and its subsidiary, Nucro-Technics, Inc. (“Nucro Technics”), expanding its lab capacity by over 60,000 square feet. Moreover, on June 6, 2023, Frontage Suzhou Safety Assessment Center obtained the GLP (Good Laboratory Practice) certification issued by the NMPA.

In 2023, Tigermed accelerated the integration of innovative and digital technologies into clinical development, introducing a wide range of virtual and hybrid approaches to Decentralized Clinical Trials (DCT). The company’s in-house DCT technology has been widely used in various projects, including pivotal clinical trials, post-marketing studies, real-world studies, etc., covering therapeutic areas including oncology, hematology, central nervous system, respiratory and endocrine, etc.

As of December 31, 2023, 13% of Tigermed’s ongoing clinical trials had adopted the DCT hybrid model. Further, Tigermed played a significant role in the development of China’s DCT ecosystem and published the landmark report on the DCT Industry Best Practice and authored Tigermed DCT Global Regulatory Handbook.

In 2023, Tigermed continued to deepen its global presence and service capabilities. Tigermed US clinical operation business saw rapid growth in revenue and backlog with a well-supported integrated platform and a growing team. Tigermed US team had accumulated know-how from over 100 clinical trials. As of December 31, 2023, Tigermed had 59 ongoing multi-regional clinical trials (MRCTs) conducted in countries across North America, Asia Pacific, Europe, and Africa, as well as 194 ongoing single region overseas clinical trials, primarily in South Korea, Australia, and the United States.

Tigermed’s exceptional performance earned recognition from industry, media outlets, and other stakeholders, including an upgrade to an AA rating by MSCI. Tigermed has also received notable awards, such as being named the Best Medical Device Overseas Enabling Service Provider and LinkedIn Best Employer Brand Award, etc.

Management Comments

“Despite industry fluctuations in 2023, Tigermed maintained a steady growth, reflecting our team’s dedication and the company’s robust capabilities and resilience,” stated Dr. Xiaoping Ye, Co-Founder and Chairman of Tigermed. “Looking ahead, the life science industry remains ripe with vast opportunities and potential. The company will continue to embrace regulatory changes, technological innovation, and global expansion to deliver value to society.”

Dr. Xiaochun Cao, Co-Founder, Executive Director, and President of Tigermed, said: “Since our founding in 2004, Tigermed has been integral to China’s pharmaceutical evolution from imitation to innovation. With global expansion and exceptional quality, we’re driving impactful advancements in clinical research and addressing patient needs for better health outcomes.”

Mr. Hao Wu, Executive Director and Co-President of Tigermed, said: “Tigermed is dedicated to delivering professional, high-quality, and efficient services, actively responding to market changes, and advancing innovative product launches to meet diverse customer needs. Looking forward, Tigermed remains steadfast in its mission, collaborating globally to drive medical industry development and contribute to human health.”

Forward-Looking Statements

The information communicated herein may contain certain “forward-looking statements”, which are not historical facts but instead include predictions about future events based on our beliefs and information currently made available to us. Although we believe that these predictions are reasonable on the date hereof, future events are inherently uncertain and these forward-looking statements may turn out to be incorrect. Forward-looking statements involve risk and uncertainty by nature because they relate to events and will depend on circumstances that will occur in the future relating to, inter alia, our ability to compete effectively, our ability to develop and market new service offerings, our ability to expand into new markets, the risks associated with listed subsidiaries of the Company, unforeseeable international tensions, regulatory or governmental scrutiny in certain countries, the impact of emergencies and other force majeure events. We undertake no obligations to update forward-looking statements or to adapt them to future events or developments except as required by applicable laws or listing rules. Any investment in any securities issued by the Company or its subsidiaries will also involve certain risks. There may be additional material risks that are currently not considered to be material or of which the Company and its advisors or representatives are unaware. Against the background of these uncertainties, you should not rely on these forward-looking statements.

Non-IFRS Measure

To supplement our financial information which are presented in accordance with IFRS, we use adjusted net profit attributable to owners of the Company as an additional financial measure, which is not required by, or presented in accordance with IFRS. We define adjusted net profit attributable to owners of the Company as profit for the year attributable to owners of the Company before certain expenses and amortization. We define adjusted net profit attributable to owners of the Company as profit attributable to owners of the Company adjusted for (1) share-based compensation expense, (2) net foreign exchange loss/(gain), (3) amortization of intangible assets arising from acquisitions, (4) listing expenses incurred by our Group, and (5) increase in fair value of financial assets at FVTPL. Adjusted net profit attributable to owners of the Company is not an alternative to (i) profit before tax, profit for the year or profit for the year attributable to owners of the Company (as determined in accordance with IFRS) as a measure of our operating performance, (ii) cash flows from operating, investing and financing activities as a measure of our ability to meet our cash needs, or (iii) any other measures of performance or liquidity. We believe that this non-IFRS measure is useful for understanding and assessing underlying business performance and operating trends and that the owners of the company and we may benefit from referring to this non-IFRS measure in assessing our financial performance by eliminating the impact of certain unusual, non-recurring, non-cash and/or non-operating items that we do not consider indicative of the performance of our business. However, the presentation of this non-IFRS measure is not intended to, and should not, be considered in isolation from or as a substitute for the financial information prepared and presented in accordance with the IFRS. You should not view the non-IFRS measure on a stand-alone basis or as a substitute for results under the IFRS, or as being comparable to results or a similarly titled financial measure reported or forecasted by other companies.

About Tigermed

Tigermed (Stock code: 300347.SZ/3347.HK) is a leading global provider of integrated research and development solutions for biopharmaceutical and medical device industry. With a broad portfolio of services and a promise of quality, from preclinical development to clinical trial to commercialization, we are collaborating with over 2,800 customers and committed to moving their development journey efficiently and cost-effectively. Tigermed currently represents a worldwide network of more than 180 locations with over 9,700 employees across Asia Pacific, Europe, North America, Latin America and Africa. We are devoted to building an integrated platform that enables the boundless possibilities for the healthcare industry, embracing challenges to fulfill our commitment to serving unmet patients’ needs, and ultimately saving lives.

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Volvo Financial Services, JA Worldwide Expand Partnership, Bringing Financial Literacy Education to More Youth

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GREENSBORO, N.C., March 28, 2024 /PRNewswire/ — Volvo Financial Services (VFS) today announced a continuation of its partnership with JA (Junior Achievement) Worldwide through 2025, bringing financial literacy skills and knowledge to even more youth around the world. In addition, VFS and JA are expanding their geographic reach with the addition of programs in Romania and Sweden. These new programs will be in addition to efforts already underway in Brazil, France, India, Italy, Peru, South Africa, Spain, the United Kingdom and the United States.

“As significant change reshapes our world, understanding basic financial principles becomes an even more important cornerstone for future success,” said Marcio Pedroso, president, VFS. “Teaching these skills to youth also helps secure a more equitable and sustainable society, which is why we are so proud to continue our partnership with JA and expand our reach together.”

VFS and JA established their partnership in 2022, with VFS employee volunteers and JA educators working together to bring financial literacy skills to youth through JA’s proven curriculum. Participating youth will also have a chance to learn about finance-related careers from VFS volunteers. In the first year of the partnership, about 140 VFS employee volunteers partnered with JA educators to reach more than 14,000 youth around the world.

“One of the central ways that young people build self-efficacy is through role models who share their own financially healthy journeys,” said Asheesh Advani, president & CEO, JA Worldwide. “Renewing and expanding our partnership with VFS will enable even more Volvo volunteers to serve as financial mentors and role models to JA students. Without corporate partners like VFS enabling their employees to serve as volunteers, this key component of financial education wouldn’t be possible.”

Broadening its partnership with JA demonstrates VFS’ commitment to make a positive impact on society and is fully aligned with the Volvo Group’s commitment to all 17 of the United Nations Sustainable Development Goals (SDGs). Strong financial literacy skills makes a positive impact on several SDGs, including helping empowering women and girls and supporting quality education.

JA Worldwide delivers hands on, immersive learning in entrepreneurship, work readiness, and financial health. Delivering more than 17 million student experiences each year in over 100 countries, JA is one of few organizations with the scale, experience, and passion to build a brighter future for the next generation of innovators, entrepreneurs, and leaders.

Volvo Financial Services is the captive finance arm of the Volvo Group, providing financial services and solutions that meet the needs of our customers today and into the future. Dedicated to innovation, VFS is supporting society in its adoption of sustainable transport and equipment solutions. VFS is headquartered in Gothenburg, Sweden, and serves Volvo Group customers and dealers in about 50 markets. For more information, please visit www.volvofinancialservices.com or follow us on LinkedIn

The Volvo Group drives prosperity through transport and infrastructure solutions, offering trucks, buses, construction equipment, power solutions for marine and industrial applications, financing and services that increase our customers’ uptime and productivity. Founded in 1927, the Volvo Group is committed to shaping the future landscape of sustainable transport and infrastructure solutions. The Volvo Group is headquartered in Gothenburg, Sweden, employs more than 100,000 people and serves customers in almost 190 markets. In 2023, net sales amounted to SEK 553 billion (EUR 48 billion). Volvo shares are listed on Nasdaq Stockholm.

Volvo Financial Services

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