Park city concept boosts high-quality development in Xinjin
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KEXXEL GROUP BRINGS TOGETHER RENOWNED INDUSTRY EXPERTS TO HIGHLIGHT THE IMPORTANCE OF ESG IN MALAYSIA
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Sims Limited Signs Global Agreement on Climate Policy Engagement
US$24m 'Connect All Kids' deployment with NYC Department of Education
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Verdani Clients Showcase their Strength in the 2022 GRESB Global ESG Benchmark
Eight first- and three second-place rankings, two Global Sector Leaders and seven Regional Sector Leader designations, 11 - 5 Star and 12 - 4 Star ratings, and 17 in the top five of their peer groups. CARLSBAD, Calif., Nov. 30, 2022 /PRNewswire/ -- Verdani Partners, a leading environmental, social and governance (ESG) consultant, continues to accelerate sustainability in the built environment by guiding clients towards improved performance on the GRESB Real Estate Assessment. GRESB is the leading ESG benchmark for real estate and infrastructure investments globally, covering over $8.6 trillion of assets under management. In 2022, Verdani submitted 41 assessments on behalf of 12 clients' national and international real estate portfolios, including American Realty Advisors (ARA), Clarion Partners, CommonWealth Partners (CWP), GID, The Howard Hughes Corporation, Jamestown LP, Parkway, PCCP, and PGIM Real Estate. Verdani clients achieved excellent results with four first ranked Management & Performance (M&P) submissions for The Howard Hughes Corporation and PGIM Real Estate, four first ranked Management & Development (M&D) submissions for PGIM Real Estate, and two second ranked M&P submissions for ARA and CWP. The Howard Hughes Corporation earned Regional Sector Leader designation for M&P, while PGIM Real Estate earned two Global Sector Leaders in M&P and M&D, three Regional Sector Leader designations for M&P, and three Regional Sector Leader designations for M&D. Clients who earned GRESB 5 Star Ratings include ARA, CWP, GID, Jamestown LP, Parkway, and PGIM Real Estate. Clients who earned GRESB 4 Star Ratings for excellent performance include Clarion Partners, The Howard Hughes Corporation and PGIM Real Estate. Eight submissions achieved 10-19% single year score increases, which underscore the strength of our ongoing ESG management, decarbonization and net zero, TCFD-aligned resilience, and stakeholder engagement programs to advance sustainability in commercial real estate. About GRESB GRESB is a mission-driven and industry-led organization providing standardized and validated ESG data to financial markets. GRESB is the leading ESG benchmark for real estate and infrastructure investments across the world. GRESB.com. About Verdani Partners Verdani, a GRESB Global Partner, manages ESG programs for 16 real estate firms with over 4,500 properties managed across 1.1 billion square feet of diversified portfolios, representing over $460 billion AUM. verdani.com Contact: Paulynn Cue, Chief Communications Officer, Verdani Partners, 213-281-5990
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Trina Solar shares its low-carbon vision at COP27
SHARM EL SHEIK, Egypt, Nov. 30, 2022 /PRNewswire/ -- The global PV and smart energy total solutions provider Trina Solar was among those whose voices were heard at the recent United Nations climate change conference, COP27, as the company put forward its views and vision on low-carbon practice in the supply chain. Topics related to low carbon emissions were a central focus of the conference, held in Sharm El Sheik, Egypt, from November 6 to 18, at which there were 35,000 attendees, including more than100 heads of state and government. About 2,000 speakers led in-depth discussions on climate change. Zeng Yi, Trina Solar's assistant vice-president of strategy and marketing, delivered a video speech titled "Achieving synergy between pollution and carbon reduction and improvement of the eco-environment: balancing environmental, climate and economic gains". Zeng cited what Trina Solar calls its Qinghai strategy in the speech. The strategy includes locating the whole value chain of the solar PV industry in Qinghai, the province with the highest proportion of green electricity in China, and developing utility-scale solar PV stations on its vast drylands. The strategy enables the deep decarbonation in the upstream supply chain of Trina Solar, avoiding carbon emission by almost 95%. It also creates added benefits of preventing desertification and stimulating growth for the underdeveloped local economy. Foreshadowing the conference, Trina Solar attended the Zero-Carbon Mission International Climate Summit in Beijing in early November and was honored with a Climate Solver Award, the only PV company among the winners. The Climate Solver Award aims to promote widespread adoption of innovative technologies by selecting innovative low-carbon technologies with revolutionary potential in reducing greenhouse gases. A company's potential to achieve emissions reductions with technologies is one of the key criteria of the award. The continuous innovation of low-carbon technologies is the core driving force of the global response to climate change. Trina Solar is committed to leading the way in smart solar energy solutions for a net-zero future. Its 600W+ high-power modules can effectively reduce the LCOE for PV power stations with high power, high efficiency, high energy yield and high reliability. In May, 2022, Trina Solar received LCA certificate for its 210mm Vertex modules from the independent testing and certification authority TÜV Rheinland, becoming the first solar company to receive LCA certification for 210mm modules. TÜV Rheinland issued a Carbon Footprint Certificate for Trina Solar's Vertex modules in October. The products cover a full range of 210mm p-type solar modules from Vertex S 410W to Vertex 670W, with an industry-leading ability to reduce carbon emissions. Trina Solar joined the Science Based Targets initiative (SBTi) in July last year, contributing to the common goal of limiting global warming to 1.5 C. It also initiated the campaign Clean Energy for Earth with WWF China, which promotes efforts to create a carbon-neutral future. Trina Solar has pledged that it will strive to achieve 100% use of renewable energy in its manufacturing and operations by 2030, in line with the UN Sustainable Development Goal 7.
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Ampace Is Giving Sustainable Solar Power for All.
HONG KONG, Nov. 30, 2022 /PRNewswire/ -- Ampace is excited to announce the release of its new solar panels. This 100-watt solar panel is water, weather and dust proof. It's been created to be durable for whatever situations arise. Solar power is generated through photovoltaic technology and it is natural, renewable, and clean. It does not involve the burning of any fossil fuels or the emission of greenhouse gasses that contribute to the global climate change crisis. At Ampace, the solar panels have been developed with maximum capacity and safety in mind. Environmentally conscious consumers are expecting more and more from their products to meet their demands. Ampace believes in its solar panel's efficacy and its effectiveness paired with its consistent quality control checking. Ampace 100w portable solar panel is designed for Ampace P600 power station, they go hand in hand and provide the ultimate power supply for off-grid living and expeditions. The featured Ampace solar panel with an industry-leading Monocrystalline cell layer that achieves a 22% energy conversion rate, it can fully charge the P600 within 6-8 hours. (Depending on the lighting conditions). Ampace Is Giving the Gift of Power This Christmas Winter time brings images of frozen lakes, hot mulled wine and burning logs on the fire with the snow falling gently outside. Interestingly, many people believe that solar won't work well in colder climates. That's not true. Solar panels are actually more efficient in colder temperatures because excessive heat can reduce the voltage they produce. Solar works anywhere there is daylight. In fact, on cold, clear days, snow from the ground can reflect extra sunlight onto your solar panels like a mirror. Ampace has been designed with the LiFePO4 battery to ensure that it has the ability to operate in colder temperatures. This allows those living in the chilliest of climates to be rest-assured that Ampace has it covered and will work just fine, even in freezing conditions. The Ampace P600 features a capable 600-watt inverter (1800-watt surge) designed to handle everything from power-hungry devices and electronics to small appliances. It's able to power laptops, portable fridges, coffee makers, and much more. Get a gift for a loved one this Christmas, that is not only useful, but can open up new ways of living and spending free time. Source: Ampace has over 20 years experience in the energy storage industry and is committed to building the world's leading power stations for new-era living, van dwellers, storage systems, high-profile explorers and off-grid life. Official website of Ampace: https://ampacepower.com/Ampace P600: https://www.amazon.com/AMPACE-Portable-Charging-Generator-Optional/dp/B0BFGXHGTVSolar panel: https://www.amazon.com/AMPACE-Compatible-Efficiency-Monocrystalline-Waterproof/dp/B0BFGJZXHN/ref=sr_1_7?crid=1HFD7GCND79WQ&keywords=Ampace&qid=1669358655&sprefix=ampace%2Caps%2C484&sr=8-7 Facebook: https://www.facebook.com/ampacepower
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WorkForce Software Presents at NAHRES Conference to Showcase Modern WorkForce Management Solutions for Global Employers
As economic uncertainty and an ongoing talent shortage grow, WorkForce Software leads a session at the North American HR Executive Summit (NAHRES) to bridge the divide between how HR, IT and operational leaders recognize and deliver an optimal employee experience to their global workforce LIVONIA, Mich., Nov. 30, 2022 /PRNewswire/ -- Today, the first global provider of integrated employee experience and workforce management solutions, WorkForce Software, announces that its Chief Marketing and Customer Experience Officer, Sandra Moran, will lead a keynote session at the 2022 North American HR Executive Summit (NAHRES). This year's NAHRES conference takes place December 5 - 7, 2022 in Orlando, Florida at the Omni Orlando Resort at Champions Gate. The attendees at the 2022 event include the top-tier industry executives representing leading global brands together with cutting edge service and solution providers from across North America to network, benchmark, share and learn real-world solutions to challenges that face HR professionals in their daily work. NAHRES represents human resources professionals that are faced with constant change as their organizations work to achieve goals, develop products, and shape the corporate culture of large employers around the world. Moran's experience which spans over 25 years, and her data-backed session, will provide new information to enable these HR leaders to unite IT, HR and Operations and drive desired business outcomes. During this session, attendees will discover insights from the latest global employee/employer experience research and discuss how to create a modern employee experience that is being demanded by today's workforce, while also meeting the goals and growth objectives of the business. "As support for continuous change dominates the agenda of most organizations, HR leaders must find new ways to meet the challenges of an increasingly diverse workplace – including the demands of their deskless employees," said Sandra Moran, CMCXO of WorkForce Software. "Join us at NAHRES as we reveal the latest research and discuss the importance of investing in the experience of the millions of deskless and remote employees – those who are an essential part of driving performance at the most successful organizations." WorkForce Software's session titled, "Employee Experience: IT, HR and Operations Unite to Drive Desired Business Outcomes" is December 6, 2022 from 11:40 a.m. - 12:15 p.m. Eastern time. The session takes a deep dive into the latest global research study and provides practical ideas on how to contend with the unknown economic climate, challenges in acquiring and retaining qualified talent and the importance of enabling deskless workers who are often outside the scope of digital transformation initiatives. Visit WorkForce Software at 2022 NAHRES conference, on December 5 – 7, 2022. Register now and take a look at the latest WorkForce Software whitepaper, Smart, Strategic and Employee-Centric: The Next Generation of HR Technology which discusses current trends and benefits of technology that enable the essential deskless workforce. Attendees can also schedule a private demo and discussion with WorkForce Software executives while at NAHRES by emailing csamuel@workforcesoftware.com before the conference to reserve a time. About WorkForce Software WorkForce Software is the first global provider of workforce management solutions with integrated employee experience capabilities. The company's WorkForce Suite adapts to each organization's needs—no matter how unique their pay rules, labor regulations, and schedules—while delivering a breakthrough employee experience at the time and place work happens. Enterprise-grade and future-ready, WorkForce Software is helping some of the world's most innovative organizations optimize their workforce, protect against compliance risks, and increase employee engagement to unlock new potential for resiliency and optimal performance. When your employees include deskless or hourly workers, unionized, full-time, part-time, or seasonal, WorkForce Software makes managing your global workforce easy, less costly, and more rewarding for everyone. For more information, please visit www.workforcesoftware.com. WorkForce Software's solutions are also available through our global reseller, SAP. To learn more, please visit www.workforcesoftware.com/partner/sap/.
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Quhuo's Flexible Employment Platform Supports Job Growth and Entrepreneurship
Beijing Municipal Commission of Development and Reform Recognizes Company's Achievements During Mass Entrepreneurship and Innovation Week BEIJING, Nov. 30, 2022 /PRNewswire/ -- Quhuo Limited (NASDAQ: QH) ("Quhuo" or "the Company"), a leading gig economy platform focusing on local community-centered services in China, has been recognized by the Beijing Municipal Commission of Development and Reform (the "BMCDR") for its flexible staffing solutions, as the country continues to support job growth and entrepreneurship. The National Mass Entrepreneurship and Innovation Week was kicked off on September 15, 2022 with the theme of "innovation driving vitality, entrepreneurship creating employment". It illustrates the country's focus on innovation and stabilizing employment with a series of measures, including offering employment subsidies for enterprises, and encouraging the creation of flexible staffing platforms to help job seekers in their quest to find employment. Quhuo's innovative platform adheres to such nationwide strategy, and its achievements in helping job seekers find employment has been recognized by the authorities. Officials from the BMCDR visited Quhuo's Beijing headquarter in September 2022 and praised the Company's efforts of closely following and going above and beyond Beijing's job growth goals. Specifically, the BMCDR spoke highly of Quhuo's business model and how its platform assists gig seekers and contributes to bolstering flexible employment across the country. The Company's innovative workforce platform has served many blue-collar workers across China over the past few years, giving them the convenience of flexible gigs and hours, while at the same time providing a stable income. The success of Quhuo's workforce platform comes at a time when China has been making concerted efforts to boost job creation and promote entrepreneurship. Over the past few years, the flexible labor market in China has thrived thanks to the rapid development of the sharing economy. Quhuo's data-driven platform leverages labelling system and machine learning algorithm to categorize tasks and gigs, and monitors the peaks and troughs of the job markets across various sectors to better match workers with suitable employers. Today, the Company has diversified its job offerings to over 30 types of gigs in more than 100 cities across the nation and served nearly 500,000 job seekers in total. "We're committed to offering the best staffing solutions for enterprises and gig-hunting platform for job seekers, as we strive to put an emphasis on the country's policy and strategy," said Leslie Yu, Chairman and Chief Executive Officer of Quhuo. "With a goal of 'boosting employment, stabilizing income and empowering entrepreneurship,' Quhuo offers well-rounded services, including living support, workplace safety and job training, to ensure job seekers a secure and reassuring work environment." Quhuo has noted that employers often opt for flexible staffing options while hoping to maintain a consistent quality of services, and that job seekers often value the convenience of flexible hours and the choice to take on different tasks, while hoping for a stable income. The Company has also noted that there was often a mismatch in resources. For example, there is peak and downtime for workload in the food delivery sector and the car-hailing sector, leading to idle workforce sometimes. In a bid to address this issue, Quhuo developed its own platform, powered by big data analysis, to help select suitable gigs for workers and facilitate them to juggle multiple tasks when they have time to work. It also helps workers to explore their potential in various job markets. "We believe that Quhuo's platform aligns with the country's goal of 'boosting employment, stabilizing income and empowering entrepreneurship,' and we are delighted that our efforts have been acknowledged by the authorities," Leslie added. About the Mass Entrepreneurship and Innovation Week The Mass Entrepreneurship and Innovation Week was first introduced by the State Council in 2015. The event, held annually across China, is an important part of an overall nationwide strategy to promote entrepreneurship and innovation, which have been regarded as significant engines for the country's economic development. In 2022, the events in Beijing included a series of roadshows and online presentations to demonstrate the city's achievements in innovation and entrepreneurship. About Quhuo Limited Quhuo Limited (NASDAQ: QH) ("Quhuo" or the "Company") is a leading gig economy platform focusing on local community-centered services in China. Leveraging Quhuo+, its proprietary technology infrastructure, Quhuo is dedicated to empowering and linking workers and local life service providers and providing end-to-end operation solutions for the life service market. The Company currently provides multiple industry-tailored operational solutions, primarily including on-demand delivery solutions, mobility service solutions, housekeeping and accommodation solutions, and other services, meeting the living needs of hundreds of millions of families in the communities. With the vision of promoting employment, stabilizing income and empowering entrepreneurship, Quhuo explores multiple scenarios to promote employment of workers, provides, among others, safety and security and vocational training to protect workers, and helps workers plan their career development paths to realize their self-worth. Safe Harbor Statements This press release contains ''forward-looking statements'' within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical or current fact included in this press release are forward-looking statements, including but not limited to statements regarding Quhuo's business development, financial outlook, beliefs and expectations. Forward-looking statements include statements containing words such as "expect," "anticipate," "believe," "project," "will" and similar expressions intended to identify forward-looking statements. These forward-looking statements are based on Quhuo's current expectations and involve risks and uncertainties. Quhuo's actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks and uncertainties related to Quhuo's abilities to (1) manage its growth and expand its operations, (2) address any or all of the risks and challenges in the future in light of its limited operating history and evolving business portfolios, (3) remain in its competitive position in the on-demand food delivery market or further diversify its solution offerings and customer portfolio, (4) maintain relationships with major customers and to find replacement customers on commercially desirable terms or in a timely manner or at all, (5) maintain relationships with existing industry customers or attract new customers, (6) attract, retain and manage workers on its platform, and (7) maintain its market shares in relation to competitors in existing markets and its success in expansion into new markets, as well as the length and severity of the recent COVID-19 outbreak and its impact on Quhuo's business and industry. Other risks and uncertainties are included under the caption "Risk Factors" and elsewhere in the Company's filings with the Securities and Exchange Commission, including, without limitation, the final prospectus related to the IPO filed with the SEC on July 10, 2020 and the Company's latest annual report on Form 20-F. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and Quhuo undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof. Media Contact Quhuo LimitedE-mail: pr@meishisong.cn
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52% of Singaporeans would quit their job if they couldn't work hybrid anymore
SINGAPORE, Nov. 30, 2022 /PRNewswire/ -- FlexOS, a new Singapore-based platform that recently raised $1 million to help companies manage their hybrid teams and offices with a focus on the employee experience and company culture, partnered with the leading global innovation platform and venture capital firm Plug and Play on new original research that shows hybrid work is here to stay. Key findings from "The State of Hybrid Work in Singapore": 52% of Singaporean hybrid workers say they would quit their job if there were no longer an option for flexible work. Collaboration (1), Doing Focused Work (2), and Socializing with Colleagues (3) are the key reasons for employees to still come to the office 67% of hybrid workers in Singapore would be motivated to come to the office for social, creative, well-being, and training workshops A whopping 90% of Singaporean employees want to take an active role and create small events like lunches or doing something fun after work to ensure the team stays connected. 60% of employees in Singapore say that when they work from home, they have experienced Fear of Missing Out about what's happening in the office. Singaporean hybrid workers refuse to go back to the office full-time For Singaporean employees currently practicing hybrid work, 1 in 2 (52%) say they would quit their job if there were no longer an option for flexible work. (Image source: FlexOS) Hybrid Work combines work from home, office, and 'third places' like cafes and coworking spaces. And it's taking the world by storm. According to McKinsey, over 90% of companies are switching to hybrid work long-term.[1] Hybrid workers report higher levels of job satisfaction, engagement, and commitment.[2] No wonder Stanford researchers have proven that hybrid work increases employee retention.[3] And once you have it, like many Singaporean employees, it's hard to go back. According to the research, conducted in October 2022, 1 in 2 (52%) of Singaporean employees currently practicing hybrid work say they would quit their job if there were no longer an option for flexible work. This number goes up even further for Millennials (25-34), where 57% say they would quit without a hybrid working option. These insights make it clear that companies and employees have good reasons to be in the office; asking employees to come back entirely is at the companies' peril. People are the reason to come back to the office While working from home has many benefits, employees in Singapore still have good reasons to come back to the office. Amongst all options, collaboration (1), doing focused work (2), and socializing with colleagues (3) were ranked the highest. Interestingly, Gen Z (18-24) wants to be in the office for on-the-job learning so they can get direct feedback. This makes sense, given that about 80% of learning happens by shadowing others – something that's hard to do at home. On the other hand, millennials (25-34) choose to come into the office for the right environment and vibe to do work more than other age groups. Creative, well-being, and other Workshops are the #1 driver for Singaporeans to come to the office more than required Human connection, which happens organically in a 9-to-5 office culture, needs to be more 'designed' in the hybrid workplace. Employers who are wondering how to attract employees back into the office should look no further than workshops. Our research shows that 67% of hybrid workers in Singapore would be motivated to come to the office for social, creative, well-being, and training workshops. Get-togethers such as team lunches, coffee breaks, co-working sessions, and other group activities organized by managers (53%) closely follow workshops. Knowing that their favorite colleagues are in on a certain day is the reason to return to the office for 45% of employees. The motivators listed above are true across all age groups, except for 54+, for whom face-to-face work meetings would be the primary motivation to come in. Employees want to take an active role in staying connected to their colleagues Hybrid and remote teams have a weaker sense of connection and community. But according to this study, a whopping 90% of Singaporean employees want to take an active role and create small events like lunches or doing something fun after work to ensure the team stays connected. Of these employees, 58% would do it without any reward, whereas 42% think getting rewarded for taking the initiative would be motivating. Especially Gen Z and Millennials say they'd do that, but only if their employer rewarded them for it. Up to 60% of Singapore hybrid workers have experienced Office FOMO Sitting at home and realizing you're missing out on a great social moment in the office can make you feel like you're missing out. Especially in companies where these social moments get shared liberally on internal messaging platforms like Teams or Slack, people may feel left out. The FlexOS study shows that 60% of employees in Singapore say that when they work from home, they experience Fear of Missing Out about what's happening in the office. For the 35-44 range, this number even goes up to 69%. Access The State of Hybrid Work in Singapore report here to get the full read on the findings from the original research. About the Study The survey was conducted through the Pollfish panel of 385 hybrid workers in Singapore, across all age ranges. This sample size is statistically significant for Singapore's total working population of over 4,000,000 employees. The survey ran in October 2022. Respondents were invited using a double opt-in: they confirmed their interest, created a profile via a verification process, joined the respondent pool, and were invited to take the survey as they fit the targeting criteria. About FlexOS Founded in 2022, FlexOS is a B2B SaaS HR Tech platform that enables companies to launch and manage successful hybrid teams and offices in Asia-Pacific. It raised $1 million in an oversubscribed round from investors who were previously in Paypal, Dropbox, and more. The workplace platform offers employee-centric, data-driven features to solve the biggest hybrid challenges: facilitating hybrid policies, managing flexible office space, and getting people back into the office to drive employee engagement and retention.From this, FlexOS supports HR teams and company leadership with data and insights to transform how companies approach workplace management and bring employees together in the hybrid world of work. Learn more at www.flexos.work. About Plug and Play Plug and Play is the leading global innovation platform and venture capital firm. Headquartered in Silicon Valley, Plug and Play has built accelerator programs, corporate innovation services and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, their programs have expanded worldwide to include a presence in over 50+ locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 50,000 startups and 500+ corporate partners, they have created a global startup ecosystem covering many different industries. Companies in their portfolio have raised billions in additional funding, including over 80 exits such as Honey, Kustomer, Dropbox, and PayPal. For more information, visit https://www.plugandplaytechcenter.com/ [1] McKinsey, "What executives are saying about the future of hybrid work," May 2021 [2] Matthew Davis, et. al., "Where is your office today? A research-led guide to effective hybrid working," University of Leeds, May 2022 [3] Nick Bloom et. al., "How Hybrid Work From Home Works Out," Stanford, April 2022
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Tarena Announces Changes to Board Composition
BEIJING, Nov. 30, 2022 /PRNewswire/ -- Tarena International, Inc. (NASDAQ: TEDU) ("Tarena" or the "Company"), a leading provider of IT professional education and IT-focused supplementary STEAM education services in China, today announced that Ms. Mingjie Sun has been appointed as an independent director of the board of directors of the Company (the "Board") and Dr. Binshen Meng has been appointed as a director of the Board. Ms. Sun has also been appointed as the chairman of the compensation committee of the Board, as well as a member of the audit committee and the nominating and corporate governance committee of the Board. Mr. Hon Sang Lee will no longer serve as a director after the current term expires, which did not result from any disagreement with the Company. These changes will be effective on December 1, 2022. Ms. Sun served as one of the six members in the Executive Management Team of AsiaInfo Technologies (China) Inc. (01675.HK). Ms. Sun joined AsiaInfo Technologies (China) Inc. in 1996, and served as its vice president and senior vice president from January 2014 to April 2022. With over two decades of operational and leadership experience in the IT and telecommunication industry, Ms. Sun was awarded Forbes China 50 Top Women in Tech in 2020. Ms. Sun received her bachelor degree in automatic control engineering from Harbin Engineering University and master degree in automatic control engineering from Harbin Institute of Technology. Dr. Binshen Meng currently serves as a board director of TCE (Shenzhen) Technology Limited ("TCE Limited"). Dr. Meng is a seasoned technology entrepreneur with extensive experience in the TMT industry. Dr. Meng served senior technology and management roles in multiple world-renowned technology companies in Silicon Valley, such as HP, Lucent, Altera and Nvidia. Dr. Meng founded TCE Limited in 2013, in which he has served as the Chairman of the board, CEO and/or CTO. Dr. Meng has nearly 30 years of R&D and leadership experience in network and telecommunications, consumer electronics, artificial intelligence, big data, Internet of Things and green energy technologies. Dr. Meng received both a bachelor degree and a master degree in electronics technology from Peking University and served as a professor teaching physics in Tsinghua University. Dr. Meng received his master degree and PhD in computer and electrical engineering from University of Wisconsin-Madison. About Tarena International, Inc. Tarena is a leading provider of IT professional education and IT-focused supplementary STEAM education services in China. Through its innovative education platform combining live distance instruction, classroom-based tutoring and online learning modules, Tarena offers professional education courses in IT and non-IT subjects. Its professional education courses provide students with practical skills to prepare them for jobs in industries with significant growth potential and strong hiring demand. Tarena also offers IT-focused supplementary STEAM education programs, including computer coding and robotics programming courses, etc., targeting students between three and eighteen years of age. Aiming to encourage "code to learn," Tarena embraces the latest trends in STEAM education and technology to develop children's logical thinking and learning abilities while allowing them to discover their interests and potential. Safe Harbor Statement This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and 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," "confident" and similar statements. Tarena 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 report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including any business outlook and statements about Tarena's beliefs and expectations, are forward-looking statements. Many factors, risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: the impact of the COVID-19 outbreak; Tarena's goals and strategies; its future business development, financial condition and results of operations; its ability to continue to attract students to enroll in its courses; its ability to continue to recruit, train and retain qualified instructors and teaching assistants; its ability to continually tailor its curriculum to market demand and enhance its courses to adequately and promptly respond to developments in the professional job market; its ability to maintain or enhance its brand recognition, its ability to maintain high job placement rate for its students, and its ability to maintain cooperative relationships with financing service providers for student loans. Further information regarding these and other risks, uncertainties or factors is included in Tarena's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and Tarena does not undertake any obligation to update such information, except as required under applicable law. For further information, please contact: Investor Relations Contact: Tarena International, Inc.Investor RelationsE-mail: ir@tedu.cn The Piacente Group, Inc.In ChinaYang SongTel: +86-10-6508-0677E-mail: tedu@tpg-ir.com In the U.S.Brandi PiacenteTel: +1-212-481-2050E-mail: tedu@tpg-ir.com
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Bright Scholar Announces Unaudited Financial Results for the Fourth Fiscal Quarter and Fiscal Year 2022
FOSHAN, China, Nov. 30, 2022 /PRNewswire/ -- Bright Scholar Education Holdings Limited ("Bright Scholar," the "Company," "we" or "our") (NYSE: BEDU), a global premier education service company, today announced its unaudited financial results for the fourth fiscal quarter and fiscal year ended August 31, 2022. FINANCIAL PERFORMANCE HIGHLIGHTS Fourth Fiscal Quarter Ended August 31, 2022 Financial Highlights (in comparison to the same period of the last fiscal year): RMB in million Except EPS and % Fourth Fiscal Quarter Ended August 31, 2022 Fourth Fiscal Quarter Ended August 31, 2021 YoY % Change Revenue from continuing operations 403.9 320.0 26.2 % Gross Profit from continuing operations 83.8 48.3 73.4 % Gross Margin from continuing operations 20.7 % 15.1 % 5.6 % Operating Loss from continuing operations (59.4) (204.0) 70.9 % Operating Margin from continuing operations (14.7 %) (63.7 %) 49.0 % Loss from discontinued operations, net of tax - (198.9) - Net Loss for the quarter (99.4) (478.2) 79.2 % Adjusted Gross Profit from continuing operations (1) 87.7 53.0 65.5 % Adjusted Operating Loss from continuing operations (2) (48.8) (99.2) 50.7 % Adjusted Net Loss (3) for the quarter (89.7) (175.5) 48.9 % Adjusted EBITDA (4) for the quarter (47.6) (29.8) 59.9 % Basic and Diluted Loss per Share from continuing operations (0.90) (2.40) 62.5 % Basic and Diluted Loss per Share from discontinued operations - (0.66) - Adjusted Basic and Diluted Loss per Share (5) for the quarter (0.82) (1.53) 46.4 % Basic and Diluted Loss per ADS from continuing operations (3.60) (9.60) 62.5 % Basic and Diluted Loss per ADS from discontinued operations - (2.64) - Adjusted Basic and Diluted Loss per ADS (6) for the quarter (3.28) (6.12) 46.4 % Fiscal Year 2022 Ended August 31, 2022 Financial Highlights (in comparison to the last fiscal year): RMB in million Except EPS and % Fiscal Year 2022 Ended August 31, 2022 Fiscal Year 2021 Ended August 31, 2021 YoY % Change Revenue from continuing operations 1,714.9 1,401.8 22.3 % Gross Profit from continuing operations 478.1 221.5 115.8 % Gross Margin from continuing operations 27.9 % 15.8 % 12.1 % Operating Loss from continuing operations (63.0) (389.7) 83.8 % Operating Margin from continuing operations (3.7 %) (27.8 %) 24.1 % Income from discontinued operations, net of tax - 369.3 - Net Loss for the year (159.4) (165.8) 3.8 % Adjusted Gross Profit from continuing operations (1) 495.9 237.7 108.7 % Adjusted Operating Loss from continuing operations (2) (39.4) (271.4) 85.5 % Adjusted Net Loss (3) for the year (139.6) (420.2) 66.8 % Adjusted EBITDA (4) for the year 149.0 (30.3) 592.5 % Basic and Diluted Loss per Share from continuing operations (1.39) (4.54) 69.4 % Basic and Diluted Earnings per Share from discontinued operations - 4.09 - Adjusted Basic and Diluted Loss per Share (5) for the year (1.23) (3.57) 65.5 % Basic and Diluted Loss per ADS from continuing operations (5.56) (18.16) 69.4 % Basic and Diluted Earnings per ADS from discontinued operations - 16.36 - Adjusted Basic and Diluted Loss per ADS (6) for the year (4.92) (14.28) 65.5 % 1. Adjusted gross profit/(loss) from continuing operations is defined as gross profit/(loss) from continuing operations excluding amortization of intangible assets. 2. Adjusted operating income/(loss) from continuing operations is defined as operating income/(loss) from continuing operations excluding share-based compensation expense and amortization of intangible assets, impairment loss on operating lease right-of-use assets, impairment loss on goodwill and impairment loss on property and equipment. 3. Adjusted net income/(loss) is defined as net income/(loss) excluding share-based compensation expense, amortization of intangible assets, tax effect of amortization of intangible assets, impairment loss on operating lease right-of-use assets, impairment loss on goodwill, impairment loss on property and equipment and income/(loss) from discontinued operations, net of tax. 4. Adjusted EBITDA is defined as net income/(loss) excluding interest income/(expense), net, income tax expense/benefit; depreciation and amortization, share-based compensation expense, impairment loss on operating lease right-of-use assets, impairment loss on goodwill, impairment loss on property and equipment and income/(loss) from discontinued operations, net of tax. 5. Adjusted basic and diluted earnings/(loss) per share is defined as adjusted net income/(loss) attributable to ordinary shareholders (net income/(loss) attributable to ordinary shareholders excluding share-based compensation expense, amortization of intangible assets, tax effect of amortization of intangible assets, impairment loss on operating lease right-of-use assets, impairment loss on goodwill, impairment loss on property and equipment and income/(loss) from discontinued operations, net of tax.) divided by the weighted average number of basic and diluted ordinary shares. 6. Adjusted basic and diluted earnings/(loss) per American depositary share ("ADS") is defined as adjusted net income/(loss) attributable to ADS shareholders (net income/(loss) attributable to ADS shareholders excluding share-based compensation expense, amortization of intangible assets, tax effect of amortization of intangible assets, impairment loss on operating lease right-of-use assets, impairment loss on goodwill, impairment loss on property and equipment and income/(loss) from discontinued operations, net of tax.) divided by the weighted average number of basic and diluted ADSs. The number of shares used in calculating basic and diluted earnings/(loss) per ADS have been retrospectively adjusted to reflect the ADS ratio change from one ADS representing one Class A ordinary share to one ADS representing four Class A ordinary shares, which became effective on August 19, 2022. For more information on these adjusted financial measures, please see the section captioned under "Non-GAAP Financial Measures" and the tables captioned "Reconciliations of GAAP and Non-GAAP Results" set forth at the end of this release. Overseas Schools (CATS Global Schools) CATS Global Schools included 4 Stafford House locations in UK, 4 CATS Colleges in US and UK, Cambridge School of Visual & Performing Arts and 3 independent boarding schools in UK as of August 31, 2022. For the fourth fiscal quarter, revenue amounted to RMB121.6 million, representing a 61.1% increase compared to RMB75.5 million in the same fiscal quarter last year, and accounted for 30.1% of the total revenue for the fourth fiscal quarter. For the fiscal year, revenue amounted to RMB652.8 million, representing a 29.9% increase compared to RMB502.6 million in last fiscal year, and accounted for 38.1% of the total revenue. Complementary Education Services The complementary education services business comprises language training, overseas study counselling, career counselling, study tour and camps as well as international contest training and others. For the fourth fiscal quarter, revenue amounted to RMB179.7 million, compared to RMB182.6 million in the same fiscal quarter last year, and accounted for 44.5% of the total revenue for the fourth fiscal quarter. For the fiscal year, revenue amounted to RMB636.6 million, representing a 1.8% increase compared to RMB625.6 million for last fiscal year, and accounted for 37.1% of the total revenue. Domestic Kindergartens & K-12 Operation Services The domestic kindergartens & K-12 operation services business comprises of for-profit kindergartens and operation services for domestic K-12 schools including catering and procurement services. For the fourth fiscal quarter, revenue amounted to RMB102.6 million, representing a 65.7% increase compared to RMB61.9 million in the same fiscal quarter last year, and accounted for 25.4% of the total revenue for the fourth fiscal quarter. For the fiscal year, revenue amounted to RMB425.5million, representing a 55.6% increase compared to RMB273.6 million for last fiscal year, and accounted for 24.8% of the total revenue. "We had another solid quarter of business recovery to finish off a challenging year," said Mr. Jerry He, Executive Vice Chairman of Bright Scholar. "For continuing operation in the quarter, we recorded a 26.2% growth in revenue, significant improvement of 73.4% in gross profit, and operating and net losses continued to narrow. On a full fiscal year basis, revenue grew by 22.3% year-over-year, with gross profit up by 115.8% and operating and net losses improved by 83.8% and 70.2% year-over-year respectively." "The fourth quarter results illustrate the gradual return of demand for quality education as parents and students look to close the learning gaps created by the disruption of in-person learnings from pandemic. Revenue for Overseas School Business increased by 61.1% in the fourth quarter and 29.9% in the full fiscal year," Mr. He commented on the performance of overseas school business. "We are pleased with the progress of recovery, but at the same time vigilant of the imminent energy crisis in UK and the inflationary pressures in quarters ahead. We will continue to vigorously manage our costs to optimize sustainable returns over the medium to long term." "For Complementary Education Services, the fourth fiscal quarter proved to be more challenging than we anticipated with summer academic terms being disrupted by regional outbreak of new COVID variants. Revenue was down by 1.6% in the fourth fiscal quarter and up modestly by 1.8% in fiscal year 2022," said Mr. Zi Chen, Chief Executive Officer of Complementary Education Services. "Despite the challenging operating environments, we are encouraged by the continuous recovery of our overseas study counselling and career counselling business with respective revenue increased by 35.1% and 46.7% year-over-year for the quarter and 26.6% and 9.9% for full fiscal 2022, respectively. Our strategic blueprint remains firmly on all-round development for students that comprised of both school and non-school contexts critical to children's learning and achievement," Mr. Chen concluded. "Strong fourth quarter results reflect our focus on strategic imperatives we put in motion to rebuild and reshape our business that enabled us to sustain through the depths of the pandemic," said Ms. Wanmei Li, Chief Executive Officer of Domestic Kindergartens & K-12 Operation Services. "Revenue for Domestic Kindergartens & K-12 Operation Services grew by 65.7% in the fourth fiscal quarter and 55.6% in fiscal year 2022. The business performance mainly attributed to the increase of revenue generated from catering services and expansion of procurement services. As of the end August 2022, we had provided catering and procurement services to the students in a total of 24 schools and 60 kindergartens." Mr. He concluded, "Our fiscal 2022 performance demonstrates our continued resilience and relentless commitment to rebuild our revenue across all of our businesses. As we continue to navigate the dynamic macroeconomic challenges and profound shifts in economies and societies, we have gathered momentum in reshaping and rebuilding our businesses. The strength of our diversified portfolio of businesses that focus on advancing quality education services is most evident in these times of uncertainty. As we look out to fiscal 2023, we will continue to evolve our business, think comprehensively about how we bring quality education and all-round development supplementary services to students and innovate ahead of their needs, all of which will further deepen connectivity across our platform of diversified education services. In addition, we will continue to take steps to reduce overhead and mitigate risks associated with inflationary cost pressures. We are firmly committed to return to profit after impact of K-12 regulations in China, and bringing together the best of Bright Scholar in order to deliver better all round education and development for our students." RECENT DEVELOPMENTS Regained Compliance with NYSE Minimum Price Requirement On March 25, 2022, the NYSE notified the Company of its non-compliance with the NYSE's price criteria for continued listing standard. In order to regain compliance with the minimum share price requirement, the Company changed the ratio of its ADSs to its Class A ordinary shares (the "ADS Ratio"), par value US$0.00001 per share, from the previous ADS Ratio of one (1) ADS to one (1) Class A ordinary share to the current ADS Ratio of one (1) ADS to four (4) Class A ordinary shares, effective August 19, 2022. The effect of the ratio change on the ADS trading price on the New York Stock Exchange took place at the open of business on August 19, 2022 (U.S. Eastern Time). On September 1, 2022, the Company received a confirmation from the NYSE that the Company has regained compliance within the prescribed time, and the ADSs will continue to be traded on the NYSE, subject to the Company's continued compliance with all applicable continued listing criteria. UNAUDITED FINANCIAL RESULTS for THE FoURTH FISCAL quarter ENDED AUGUST 31, 2022 Revenue from Continuing Operations Revenue for the fourth fiscal quarter was RMB403.9 million, representing a 26.2% increase from RMB320.0 million for the same quarter of the last fiscal year. Overseas Schools: Revenue contribution for the fourth fiscal quarter was RMB121.6 million, representing a 61.1% increase from RMB75.5 million for the same quarter of the last fiscal year. The increase was mainly attributable to recovery of overseas schools' operation from pandemic. Complementary Education Services: Revenue contribution for the fourth fiscal quarter was RMB179.7 million, as compared to RMB182.6 million for the same quarter of the last fiscal year. The decrease was mainly attributable to study tour and camps business and language training being disrupted by regional outbreak of new COVID variants. Domestic Kindergartens & K-12 Operation Services: Revenue contribution for the fourth fiscal quarter was RMB102.6 million, representing a 65.7% increase from RMB61.9 million for the same quarter of the last fiscal year. The increase was mainly attributable to the increase of catering services revenues and expansion of procurement service. We have continued to provide essential services without recognizing any revenues relating to such activities to schools provide compulsory education in our discontinued operations, which are key to the normal daily operation of such schools. Cost of Revenue from Continuing Operations Cost of revenue for the fourth fiscal quarter was RMB320.1 million, as compared to RMB271.7 million for the same quarter of last fiscal year. Gross Profit, Gross Margin and Adjusted Gross Profit from Continuing Operations Gross profit for the fourth fiscal quarter was RMB83.8 million, representing a 73.4% increase from RMB48.3 million for the same quarter of the last fiscal year. Gross margin increased to 20.7% from 15.1% for the same quarter of the last fiscal year. The increase was mainly due to the recovery of overseas business. Adjusted gross profit for the fourth fiscal quarter was RMB87.7 million, representing a 65.5% increase from RMB53.0 million for the same quarter of the last fiscal year. Selling, General and Administrative Expenses from Continuing Operations Total SG&A expenses for the fourth fiscal quarter were RMB137.8 million, representing a 13.0% decrease from RMB158.5 million for the same period quarter of the last fiscal year. The decrease in SG&A expenses was mainly due to vigorously costs management across all of our business segments. Operating Loss, Operating Margin and Adjusted Operating Loss from Continuing Operations Operating loss for the fourth fiscal quarter was RMB59.4 million, representing a 70.9% decrease from operating loss of RMB204.0 million for the same quarter of the last fiscal year. Operating loss margin was 14.7% for the fourth fiscal quarter, as compared to operating loss margin of 63.7% for the same quarter of the last fiscal year. Adjusted operating loss for the fourth fiscal quarter was RMB48.8 million, representing a 50.7% decrease from adjusted operating loss of RMB99.2 million for the same quarter of the last fiscal year. Net Loss and Adjusted Net Loss Net loss for the fourth fiscal quarter was RMB99.4 million, representing a 64.4% decrease in loss from net loss of RMB279.3 million from continuing operations for the same quarter of the last fiscal year. Net loss was RMB478.2 million for the same quarter of the last fiscal year, which includes net loss of RMB279.3 million from continuing operations and net loss of RMB198.9 million from discontinued operations. The management of the Company noted that the Company's market capitalization has been lower than its net assets and is closely monitoring the possibility of the impairment of goodwill and intangible assets. Adjusted net loss for the fourth fiscal quarter was RMB89.7 million, representing a decrease of 48.9% from adjusted net loss of RMB175.5 million for the same quarter of the last fiscal year. Net Loss per ordinary share/ADS and Adjusted Net Loss per ordinary share/ADS Basic and diluted net loss per ordinary share attributable to ordinary shareholders from continuing operations for the fourth fiscal quarter were RMB0.90 and RMB0.90, respectively, as compared to loss of RMB2.40 and RMB2.40, respectively, for the same quarter of the last fiscal year. Adjusted basic and diluted net loss per ordinary share attributable to ordinary shareholders for the fourth fiscal quarter were RMB0.82 and RMB0.82, respectively, as compared to loss of RMB1.53 and RMB1.53, respectively, for the same quarter of the last fiscal year. Basic and diluted net loss per ADS attributable to ADS holders from continuing operations for the fourth fiscal quarter were RMB3.60 and RMB3.60, respectively, as compared to loss of RMB9.60 and RMB9.60, respectively, for the same quarter of the last fiscal year. Adjusted basic and diluted net loss per ADS attributable to ADS holders for the fourth fiscal quarter were RMB3.28 and RMB3.28, respectively, as compared to loss of RMB6.12 and RMB6.12, respectively, for the same quarter of the last fiscal year. Adjusted EBITDA Loss Adjusted EBITDA loss for the fourth fiscal quarter was RMB47.6 million, representing a decrease of 59.9% from adjusted EBITDA loss of RMB29.8 million for the same quarter of the last fiscal year. UNAUDITED FINANCIAL RESULTS for The fiscal year ENDED august 31, 2022 Revenue from Continuing Operations Revenue for the fiscal year was RMB1,714.9 million, representing a 22.3% increase from RMB1,401.8 million for last fiscal year. Overseas Schools: Revenue contribution for the fiscal year was RMB652.8 million, representing a 29.9% increase from RMB502.6 million for the last fiscal year. The increase was mainly attributable to recovery of overseas schools' operation from pandemic. Complementary Education Services: Revenue contribution for the fiscal year was RMB636.6 million. It represented a 1.8% increase from RMB625.6 million for the last fiscal year. The increase was mainly attributable to the recovery of overseas study counselling and career counselling business. Domestic Kindergartens & K-12 Operation Services: Revenue contribution for the fiscal year was RMB425.5 million, representing a 55.6% increase from RMB273.6 million for the last fiscal year. The increase was mainly due to the increase of catering services revenues and expansion of procurement services. We have continued to provide essential services without recognizing any revenues relating to such activities to schools that provide compulsory education in our discontinued operations, which are key to the normal daily operation of such schools. Cost of Revenue from Continuing Operations Cost of revenue for the fiscal year was RMB1,236.8 million, as compared to RMB1,180.3 million for the last fiscal year. Gross Profit, Gross Margin and Adjusted Gross Profit from Continuing Operations Gross profit for the fiscal year was RMB478.1 million, representing a 115.8% increase from RMB221.5 million for the last fiscal year. Gross margin increased to 27.9% from 15.8% for the last fiscal year. The increase was mainly attributable to the continuous recovery of our overseas business, our overseas study counselling and career counselling businesses. Adjusted gross profit for the fiscal year was RMB495.9 million, representing a 108.7% increase from RMB237.7 million for the last fiscal year. Selling, General and Administrative Expenses from Continuing Operations Total SG&A expenses for the fiscal year were RMB539.9 million, as compared to RMB535.9 million for the last fiscal year. Operating Loss, Operating Margin and Adjusted Operating Loss from Continuing Operations Operating loss for the fiscal year was RMB63.0 million, representing an 83.8% decrease in loss from operating loss of RMB389.7 million for the last fiscal year. Operating loss margin was 3.7% for the fiscal year, as compared to operating loss margin of 27.8% for the last fiscal year. Adjusted operating loss for the fiscal year was RMB39.4 million, representing an 85.5% decrease in loss from adjusted operating loss of RMB271.4 million for the last fiscal year. Net Loss and Adjusted Net Loss Net loss for the fiscal year was RMB159.4 million, representing a 70.2% decrease in loss from net loss of RMB535.1 million from continuing operations for the last fiscal year. Net loss was RMB165.8 million for the last fiscal year, which includes net loss of RMB535.1 million from continuing operations and net income of RMB369.3 million from discontinued operations. Adjusted net loss for the fiscal year was RMB139.6 million, representing a decrease of 66.8% from adjusted net loss of RMB420.2 for the last fiscal year. Net Loss per ordinary share/ADS and Adjusted Net Loss per ordinary share/ADS Basic and diluted net loss per ordinary share attributable to ordinary shareholders from continuing operations for the fiscal year were RMB1.39 and RMB1.39, respectively, as compared to loss of RMB4.54 and RMB4.54, respectively, for the last fiscal year. Adjusted basic and diluted net loss per ordinary share attributable to ordinary shareholders for the fiscal year were RMB1.23 and RMB1.23, respectively, as compared to loss of RMB3.57 and RMB3.57, respectively, for the last fiscal year. Basic and diluted net loss per ADS attributable to ADS holders from continuing operations for the fiscal year were RMB5.56 and RMB5.56, respectively, as compared to loss of RMB18.16 and RMB18.16, respectively, for the last fiscal year. Adjusted basic and diluted net loss per ADS attributable to ADS holders for the fiscal year were RMB4.92 and RMB4.92, respectively, as compared to loss of RMB14.28 and RMB14.28, respectively, for the last fiscal year. Adjusted EBITDA Adjusted EBITDA for the fiscal year was RMB149.0 million, representing a 592.5% increase from adjusted EBITDA loss of RMB30.3 million for the last fiscal year. Cash and Working Capital As of August 31, 2022, the Company's cash and cash equivalents and restricted cash, were RMB857.8 million (US$124.5 million), as compared to RMB1,371.6 million as of May 31, 2022. The company redeemed all of its outstanding senior notes matured on July 31, 2022 with a total redemption price of US$232.3 million, which consists of principle amount and interest. CONVENIENCE TRANSLATION The Company's reporting currency is Renminbi ("RMB"). However, periodic reports made to shareholders will include current period amounts translated into U.S. dollars using the prevailing exchange rates at the balance sheet date, for the convenience of readers. Translations of balances in the condensed consolidated balance sheets, and the related condensed consolidated statements of operations, and cash flows from RMB into U.S. dollars as of and for the quarter and fiscal year ended August 31, 2022 are solely for the convenience of the readers and were calculated at the rate of US$1.00=RMB6.8890, representing the noon buying rate set forth in the H.10 statistical release of the U.S. Federal Reserve Board on August 31, 2022. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on August 31, 2022 or at any other rate. NON-GAAP FINANCIAL MEASURES In evaluating our business, we consider and use certain non-GAAP measures, including primarily adjusted EBITDA, adjusted net income/(loss), adjusted gross profit/(loss), adjusted operating income/(loss), adjusted net earnings/(loss) per share attributable to ordinary shareholders/ADS holders basic and diluted as supplemental measures to review and assess our operating performance. 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 U.S. GAAP. We define adjusted gross profit/(loss) from continuing operations as gross profit/(loss) from continuing operations excluding amortization of intangible assets. We define adjusted EBITDA as net income/(loss) excluding interest income/(expense), net, income tax expense/benefit, depreciation and amortization, share-based compensation expense, impairment loss on operating lease right-of-use assets, impairment loss on goodwill, impairment loss on property and equipment and income/(loss) from discontinued operations, net of tax. We define adjusted net income/(loss) as net income/(loss) excluding share-based compensation expense, amortization of intangible assets, tax effect of amortization of intangible assets, impairment loss on operating lease right-of-use assets, impairment loss on goodwill, impairment loss on property and equipment and income/(loss) from discontinued operations, net of tax. We define adjusted operating income/(loss) from continuing operations as operating income/(loss) from continuing operations excluding share-based compensation expense and amortization of intangible assets, impairment loss on operating lease right-of-use assets, impairment loss on goodwill and impairment loss on property and equipment. Additionally, we define adjusted net earnings/(loss) per share attributable to ordinary shareholders/ADS holders, basic and diluted, as adjusted net income/(loss) attributable to ordinary shareholders/ADS holders (net income/(loss) to ordinary shareholders/ADS holders excluding share-based compensation expense, amortization of intangible assets, tax effect of amortization of intangible assets, impairment loss on operating lease right-of-use assets, impairment loss on goodwill, impairment loss on property and equipment and income/(loss) from discontinued operations, net of tax) divided by the weighted average number of basic and diluted ordinary shares or ADSs. We incur amortization expense of intangible assets related to various acquisitions that have been made in recent years. These intangible assets are valued at the time of acquisition and are then amortized over a period of several years after the acquisition. We believe that exclusion of these expenses allows greater comparability of operating results that are consistent over time for the Company's newly-acquired and long-held business as the related intangibles do not have significant connection to the growth of the business. Therefore, we provide exclusion of amortization of intangible assets to define adjusted gross profit from continuing operations, adjusted operating income/(loss) from continuing operations, adjusted net income/(loss), and adjusted net earnings/(loss) per share attributable to ordinary shareholders/ADS holders, basic and diluted. In addition, due to the impact of the amended Implementation Regulations of the Law on the Promotion of Private Education of the People's Republic of China (the "Implementation Rules"), the Affected Entities (7) deconsolidated is classified as discontinued operations, which is a non-recurring item. The exclusion facilitates comparisons of our operating performance on a period-to-period basis. Therefore, we provide exclusion of income/(loss) from discontinued operations, net of tax, to define adjusted net income/(loss), adjusted EBITDA, adjusted net earnings/(loss) per share attributable to ordinary shareholders/ADS holders, basic and diluted. We present the non-GAAP financial measures because they are used by our management to evaluate our operating performance and formulate business plans. Such non-GAAP measures include adjusted EBITDA, adjusted net income/(loss), adjusted gross profit/(loss) from continuing operations, adjusted operating income/(loss) from continuing operations, adjusted net earnings/(loss) per share attributable to ordinary shareholders/ADS holders basic and diluted. Non-GAAP financial measures enable our management to assess our operating results without considering the impact of non-cash charges, including depreciation and amortization and share-based compensation expense, and without considering the impact of non-operating items such as interest income/(expense), net; income tax expense/benefit; share-based compensation expense; amortization of intangible assets, tax effect of amortization of intangible assets, and without considering the impact of non-recurring item, i.e. income/(loss) from discontinued operations. We also believe that the use of these non-GAAP measures facilitates investors' assessment of our operating performance. The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using these non-GAAP financial measures is that they do not reflect all items of income and expense that affect our operations. Interest income/(expense), net; income tax expense/benefit; depreciation and amortization; share-based compensation expense; tax effect of amortization of intangible assets; and income/(loss) from discontinued operations, have been and may continue to be incurred in our business and are not reflected in the presentation of these non-GAAP measures, including adjusted EBITDA or adjusted net income/(loss). Further, these non-GAAP measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited. 7. Affected Entities refers to private schools, entities holding such private schools as well as other enterprises within China that are affected by the Implementation Rules effective on September 1, 2021. About Bright Scholar Education Holdings Limited Bright Scholar is a global premier education service company, which primarily provides quality international education to global students and equip them with the critical academic foundation and skillsets necessary to succeed in the pursuit of higher education. Bright Scholar also complements its international offerings with Chinese government-mandated curriculum for students who wish to maintain the option of pursuing higher education in China. Safe Harbor Statement This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company's business plans and development, which can be identified by terminology such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law. IR Contact: GCM Strategic Communications Email: BEDU.IR@gcm.international Media Contact: Email: media@brightscholar.comPhone: +86-757-6683-2507 BRIGHT SCHOLAR EDUCATION HOLDINGS LIMITED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands) As of August 31, August 31, 2021 2022 RMB RMB USD ASSETS Current assets Cash and cash equivalents 844,684 664,769 96,497 Restricted cash 669,029 191,365 27,778 Accounts receivable, net 41,723 19,084
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"Cambridge of the East" shines: Global-minded Zhejiang University plays a growing role in pushing SDGs
HANGZHOU, China, Nov. 30, 2022 /PRNewswire/ -- The Sixteenth General Conference of The World Academy of Sciences for the advancement of science in developing countries (TWAS) was held in a hybrid format from November 21 to 24. Opening ceremony of the TWAS 16th General Conference Hundreds of scientists -- including TWAS fellows, TWAS Young Affiliates and Alumni, ministers of science and technology, and dignitaries from all over the world -- gathered in an online and offline meeting in Hangzhou, the capital of China's eastern coastal province of Zhejiang. In the International Year of Basic Sciences for Sustainable Development set by the United Nations, they discussed how to leverage basic sciences to promote evidence-based decision-making and sustainable development in developing countries. The offline event was held at one of China's most desirable universities, Zhejiang University (ZJU), which renowned British scientist Dr. Joseph Needham hailed as "Cambridge of the East". The reason why this Chinese institution of higher learning is entitled to host such a heavyweight international conference is not only because of its 125-year history and academic heritage, but also because of its long-standing commitment to social responsibility and global commitment as an important starting point and goal of talent cultivation, scientific research and social service. As a leading comprehensive research university, ZJU's research achievements in many basic science fields contribute to the realization of the UN 2030 Sustainable Development Goals (SDGs). In the medical field, the world's first human cell landscape at single-cell level was born in ZJU in 2020, whose research method will have a profound impact on the identification of normal and disease cell states in the human body, and is expected to help doctors identify abnormal cell states and origins in the future. Ye Ming'er, associate professor of horticulture at ZJU, has been named "Food Hero" by Food and Agriculture Organization of the United Nations for his constant efforts in promoting fruit tree technology for over 30 years. His innovative approach has boosted growth and yield of several fruits, increasing farmers' income as well as protecting natural resources. "We have also built a healthy eco-environment at the orchard, where sheep feed on grass and its dung is in turn used as fertilizers for fruit trees, thus protecting the environment and ensuring the food safety," said Ye. In helping coping with climate change, China's first artificial upwelling demonstration project, led by ZJU and completed with other domestic peers, is capable of boosting phytoplankton and algae yield, restoring the marine ecological environment, and enhancing marine carbon sinks. It has been listed as a marine carbon sink program by the UN Intergovernmental Panel on Climate Change. The list goes on. In recent years, ZJU has integrated the UN 2030 Agenda for Sustainable Development into all aspects of its development, focusing on cultivating students' sustainable development competence, enriching academic ecology, strengthening interdisciplinary research, and promoting global coordination and cooperation. In March 2021, ZJU launched the Global ZJU for Social Good (Z4G) to integrate the university's own development into the global agenda, contribute its part to the implementation of the UN SDGs in China, and help build a Chinese model of sustainable development. After the release of the Z4G, ZJU held a series of activities to walk its talk. At the end of that month, ZJU, together with more than 50 leading universities in the world including Harvard University, issued the Joint Statement of Global University Leaders on the 2030 Agenda for Sustainable Development. This is the first global initiative for sustainable development initiated by a Chinese university. In April this year, ZJU, together with three overseas universities, jointly held the first Asia-Pacific Carbon Neutrality Symposium online, featuring robust discussions on carbon capture, utilization and sequestration, sustainable energy, and sustainable city and construction. The online meeting played a role in promoting cross-institutional knowledge sharing in the Asia-Pacific region and solutions to major global challenges. Four months later, ZJU joined hands with its global partners to launch the SDG Global Summer School, which attracted nearly 1,000 outstanding students from more than 80 countries and regions around the world to participate online. They exchanged views with top scholars at home and abroad. Discussions were conducted over such issues as post-COVID-19 urban governance and building a safe and sustainable food supply chain, contributing their parts to a better future for the world. Stephanie Ann, a summer school participant from Singapore, spoke highly of the Carbon Neutrality module. "The holistic approach to climate change is what makes the ZJU SDG Summer School very insightful. The lecturers, assignments and group tasks not only allow us to apply the knowledge we have learnt, but also propel us to ponder and explore the topics on our own." At the TWAS 16th General Conference, Hangzhou Declaration was unveiled in addition to the pooling of ideas and solutions on SDGs and basic sciences. The declaration calls on all stakeholders to join hands, uphold the concept of open science, strengthen South-South and North-South cooperation, and work together to open up new prospects for global basic sciences development. "In the future, we look forward to working with you to advocate for inclusive and green development, enhance basic sciences and multidisciplinary research, nurture top-notch innovative talent in basic sciences and further deepen international engagement," said Ren Shaobo, Chairman of the University Council of ZJU, at the opening ceremony of the Conference. "Thus, we are hoping to scale up higher education's distinctive contributions to the common development of mankind and the lasting prosperity of our society," Ren added. ZJU working on 17 SDGs
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The world's youth talk of making a difference
BEIJING, Nov. 30, 2022 /PRNewswire/ -- "We must do our part by finding our passion, dreaming big, then starting small, and loving others along the way, and we can absolutely take our impact on the world to a whole another level," said Geresu Dagmawit Mesfin in the final of the fourth China Daily Belt and Road Youth English Speaking Competition, held online from Nov 26 to 27. Mesfin, 24, of Ethiopia and Wang Zhisheng, 21, of China, and Gabriella Madombwe, 19, of South Africa, were the three winners among six contestants who reached the final. Nearly 40 young people in more than 30 countries and regions had taken part in the semi-final. Speaking on the topic "Youth making a difference", all finalists talked of how young people can contribute to making the world a better place by proposing and making positive changes. In Wang's speech, he calls on young people from every inch and crevice of the world to contribute to a better future for this planet for all human beings to share. "I believe, there is a huge difference youth can and should make." "Youth is seeing the world through your own lens, an unperturbed lens which has not been smudged by the restrictions of reality," Madombwe said. "Optimism, hope, courage, idealism, energy – that is how I see youth." Concluding the final competition, one of the judges, Mark Levine, a professor at Minzu University of China, spoke highly of the event and the contestants. "This was a very unique competition, extremely interesting and informative. People came from all over the world. " The China Daily Belt and Road Youth English Speaking Competition, first held three years ago, has been an important public platform for young people from all over the world to exchange ideas, deepen mutual understanding and polish their communications skills. The annual event has attracted participants from 51 countries and regions. This year's event began in January. Preliminary rounds were held offline in Malaysia, Russia, Serbia and South Africa, and nine universities in China. With this year's event over, contestants will get the chance to take part in more activities so they can gain a deeper understanding of China linguistically and culturally.
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WorkForce Software Earns Top Position in Info Tech's SoftwareReviews Workforce Management - Enterprise Data Quadrant Report 2022 for Fifth Consec
WorkForce Software's end-users' evaluation earns the #1 position, recognizing excellence in customer satisfaction, continuous innovation, and delivery of the best modern workforce management solution LIVONIA, Mich., Nov. 29, 2022 /PRNewswire/ -- Today, the first global provider of integrated employee experience and workforce management solutions, WorkForce Software, announces its WorkForce Suite was named the top vendor solution in the latest Workforce Management (WFM) - Enterprise Data Quadrant Report 2022 from Info Tech's SoftwareReviews for the fifth consecutive year. Info Tech's Data Quadrant Report provides a comprehensive evaluation of leading solutions in workforce management – for the enterprise market with WorkForce Software ranking in the highest position and winning a Data Quadrant Gold Medal in the Workforce Management - Enterprise (WFM) Software Awards category. The SoftwareReviews Data Quadrant evaluates and ranks products based on feedback from information technology (IT) and business professionals. The data is verified for accuracy, analyzed, and categorized in easy-to-visualize charts. Each product is compared with all other products in the category to create a holistic, unbiased view of workforce management software providers. Businesses that are committed to connecting with their employees and optimizing productivity are investing in modern workforce management solutions. Modern workforce management enables business leaders to forecast labor requirements, optimize staff scheduling, track time and attendance for accurate pay, gather valuable employee feedback in the flow of work, consistently communicate with and among employees, engage employees with needed training, and more. "It's gratifying for our employees to see their hard work and commitment pay off after being named the leader in the Workforce Management Enterprise Data Quadrant for the fifth consecutive year. This is especially meaningful because our customers ranked us as the best based on their experiences using our solutions," said Mike Morini CEO of WorkForce Software. "Positively impacting our customers' success and creating a better experience for their employees is our goal when we design our solutions. In the challenging economic environment our customers are navigating, it is imperative that companies can optimize their investments in their workforce. We are proud to be recognized for solutions that enable them to both improve operating results and their employees' experience at work." WorkForce Software's WorkForce Suite received first place composite score rankings for overall vendor capabilities and product features. It also scored highest by its customers for "ease of implementation" and "business value created", ahead of other workforce management vendor solutions that were evaluated, indicating that WorkForce Software customers realize rapid results from their HR digital transformation programs and return on their investment. WorkForce Software placed in a leading vendor position in nineteen important vendor capabilities categories, including highest ranked in absence management, attendance management and policies, staffing, workforce dashboards and reporting, and workforce planning and forecasting. "Creating meaningful and authentic connections between employees and their employers is essential for businesses to succeed – especially as global employers are still experiencing significant labor shortages. At WorkForce Software, we leverage consumer-grade technology and real-time data to create dynamic interactions between managers and their front-line teams, facilitate communications, and enable the flexibility that matters most to employees when they are selecting or choosing to stay with an employer," continues Morini. WorkForce Software's WorkForce Suite is recognized again in 2022 with a Data Quadrant Gold Medal in the Workforce Management - Enterprise (WFM) Software Awards category. The awards are distributed annually to recognize outstanding vendors in the technology marketplace as evaluated by their customers and end-users. The Data Quadrant measures the complete software experience, comparing both the experience with the software and the relationship with the vendor. Satisfaction with the software is measured by combining users' satisfaction with the top features and the likelihood of users to recommend the software. The vendor experience is calculated using a weighted average of the satisfaction scores tied to vendor capabilities (e.g., software implementation, training, customer support, product roadmap) and the working relationship with the vendor (e.g., whether the vendor is trustworthy, respectful, fair). To learn more about WorkForce Software and its market-leading WorkForce Suite solution, click here. To read Info Tech's SoftwareReviews 2022 Workforce Management - Enterprise Data Quadrant Report and Gold Medal Awards, click here. About WorkForce Software WorkForce Software is the first global provider of workforce management solutions with integrated employee experience capabilities. The company's WorkForce Suite adapts to each organization's needs—no matter how unique their pay rules, labor regulations, and schedules—while delivering a breakthrough employee experience at the time and place work happens. Enterprise-grade and future-ready, WorkForce Software is helping some of the world's most innovative organizations optimize their workforce, protect against compliance risks, and increase employee engagement to unlock new potential for resiliency and optimal performance. When your employees include deskless or hourly workers, unionized, full-time, part-time, or seasonal, WorkForce Software makes managing your global workforce easy, less costly, and more rewarding for everyone. For more information, please visit www.workforcesoftware.com. WorkForce Software's solutions are also available through our global reseller, SAP. To learn more, please visit www.workforcesoftware.com/partner/sap/.
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Augmentir Awarded Frost & Sullivan's 2022 Global Customer Value Leadership Award in the Connected Worker Solutions Industry
Continued innovation differentiates Augmentir and delivers customer value across the entire operation, including safety, quality, operations, maintenance, and field service. SAN ANTONIO, Nov. 29, 2022 /PRNewswire/ -- Frost & Sullivan recently researched the connected worker solutions industry and, based on its findings, recognizes Augmentir with the 2022 Global Customer Value Leadership Award. The company provides an artificial intelligence (AI)-based connected worker solution for the industrial sector. Augmentir's leadership brings a legacy of innovation excellence to the company, as its founders have designed and launched some of the best, most groundbreaking, and highly recognized industrial platforms, software, and systems in the market. Augmentir's combined leadership, legacy, and innovation makes it the partner of choice in the connected worker space. 2022 Global Connected Worker Solutions Customer Value Leadership Award Augmentir's solution goes beyond its extensive expertise and best-in-class capabilities by establishing customer value as a strategic imperative. Its value proposition delivers rapid return on investment in two to three months, demonstrating high cost-efficiency while scaling up to match customer growth. Its seamless and frictionless approach and focus on fostering close relationships position it as a preferred vendor in the connected worker space, resulting in ongoing trust with customers. The company works closely with customers during the pre- and post-purchase journey, offering support and guidance to achieve rapid training and increased productivity, creating a positive impact on continuous improvement and bottom line. For the workforce, Augmentir's solution utilizes a suite of productivity tools and AI-based workforce intelligence to enable work in ways that are specifically engaging, rewarding, safer, and easier. Samantha Fisher, a Best Practices research analyst at Frost & Sullivan, noted, "Augmentir outfitted its solution with digital tools designed to optimize frontline worker performance and deliver best-in-class results. It targets skills management, digital workflows, collaboration, and knowledge sharing, along with operational intelligence capabilities, to bring end-to-end results to industrial organizations and employees." Augmentir focuses on expanding customer value with existing clients and constantly monitors the market for new trends and use cases to help increase client base value. It creates a roadmap that delivers the highest impact and best outcomes, self-sufficiency, and ongoing satisfaction. Augmentir regularly enhances its products to ensure optimal performance, which allows companies to maximize the productivity of frontline operations. It is well-positioned to drive the connected worker space into its next growth phase, thereby growing its market share and sustaining its leadership in the coming years. "Augmentir incorporates customer-focused strategies, practice implementation, revolutionary technology, and exceptional operational strategies, earning clients' trust and loyalty and capturing more market share. It offers immense value to customers to solidify its reputation in the market," said Sebastian Trolli, senior industry analyst in the Industrial Technologies practice at Frost & Sullivan. With its strong overall performance, Augmentir earns Frost & Sullivan's 2022 Global Customer Value Leadership Award in the connected worker solutions industry. Each year, Frost & Sullivan presents this award to the company that demonstrates excellence in implementing strategies that proactively create value for its customers with a focus on improving the return on the investment that customers make in its services or products. The award recognizes the company's unique focus on augmenting the value that its customers receive, beyond simply good customer service, leading to improved customer retention and customer base expansion. Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry. About Frost & Sullivan For six decades, Frost & Sullivan has been world-renowned for helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion. Contact:Claudia ToscanoP: 1.956.533.5915E: claudia.toscano@frost.com About Augmentir Augmentir™ is the world's only Smart Connected Worker solution. Augmentir's software is a complete suite of connected worker tools that helps industrial companies digitize and optimize processes that support frontline workforces from "hire to retire". Companies in manufacturing, service, energy, and construction leverage Augmentir's suite of tools to deliver more intelligent skills management, training, collaboration, and on the job support for today's more dynamic, more flexible industrial workforce. For more information, please visit www.augmentir.com.
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Astronergy continues to improve n-type TOPCon products
HANGZHOU, China, Nov. 29, 2022 /PRNewswire/ -- As the PV market is seeing the blooming of various newly developed n-type cell products, more tech problems need to be solved by all firms related, Sheng He – Astronergy cell R&D director said at the virtual conference held by TaiyangNews on Nov. 23. His presentation made clear that Astronergy is working on n-type TOPCon products. Poster shows Astronergy ASTRO N TOPCon modules at www.astro-energy.com/en. [Photo/Astronergy] With the attendance of PV industry insiders, the three-day High Efficiency Solar Technologies 2022 Conference has attracted a lot of attention. On behalf of Astronergy, He gave a presentation on the Technology Trend of n-type TOPCon High Efficiency Cell and Module. Due to the efficiency improvement of the PERC tech cells is significantly slowing down, the R&D of next-generation cell techs of TOPCon, HJT and TBC are accelerating, He said at the conference. According to his presentation, TOPCon tech is still facing the difficulties of yield improvement, wafer thickness reduction, laydown reduction and capacity improvement. As the pioneer in the mass production of TOPCon modules, Astronergy has made great strides and achieved great results of thinner wafers, and higher efficiency. And with its big-size n-type wafers, SMBB plus half-cutting, border reinforcement and higher reliable encapsulation, ASTRO N series TOPCon module stands out from other products. Enabled with advantages of high efficiency, high power, high reliability, low degradation and long warranty period, ASTRO N modules have gained recognition from PVEL, TÜV Rheinland and many other awards. Astronergy offered its first large batch of 156MW TOPCon modules for a project at Prignitz in Germany, which is the first and largest n-type PV modules project in Europe. From June to November this year, over 35,000 pieces of n-type TOPCon modules were sold to European countries and gained a vast amount of praise. And certainly, a great amount of TOPCon modules sold to other continents have gained positive comments from customers. The current ASRTO N module has 22.5%+ efficiency, and is rated as a Tier 1 module supplier by Bloomberg. With the mission to create a sustainable and net-zero carbon world with solar power, Astronergy will pour its strength into advanced techs to improve its n-type TOPCon cells, prepare for tech reserves on other advanced cell techs and provide better products for customers all over the world.
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Invigorate China Through Sci-tech, Education and Talent
BEIJING, Nov. 29, 2022 /PRNewswire/ -- This is a news report from Science and Technology Daily: Education,science and technology, and human resources are the foundational and strategic pillars for building a modern socialist country in all respects. That's according to the report presented to the 20th National Congress of the Communist Party of China (CPC), marking the first time the three pillars are written into one report chapter. Science and technology should be regarded as the primary productive force, talent as the primary resource, and innovation as the primary driver of growth, says the report. "For the first time, the strategy for invigorating China through science and education, the workforce development strategy, and the innovation-driven development strategy are systematically explained in one chapter in the report, which shows the importance of the three strategies in helping the country realize its high-quality development and modernization drive," said Mu Hong, vice chairman of the National Development and Reform Commission, at a press conference on October 24. Mu pointed out that these three strategies jointly serve the building of an innovative country. He further interpreted it in three aspects: First, priority should be given to education. It is necessary to fully implement the CPC's educational policy, carry out the basic task of fostering virtue through education, continue to follow a people-centered approach to developing education, and move faster toward building a high-quality educational system. Second, innovation will remain at the heart of China's modernization drive. The country will improve the new system for mobilizing resources nationwide to make key technological breakthroughs, and enhance basic scientific and technological capacity, so as to boost the overall performance of China's innovation system. Third, the country will adopt more proactive, open, and effective policies on talent, and make concerted efforts to cultivate talented people in all fields, so as to create a large, well-structured, and high-quality workforce. It will also increase international personnel exchanges and make the best use of talent of all types to fully harness their potential. China will move faster to build world hubs for talent and innovation, promote better distribution and balanced development of talent across regions, and strive to build up its comparative strengths in global competition for talent, according to the report. To develop a strong workforce for the modernization drive, it is of vital importance to follow the principles of the CPC managing talent, and deepen the institutional reform for personnel development, said Zhang Mingxi, researcher at the Chinese Academy of Science and Technology for Development (CASTED). Zhang noted that it is essential to give full play to the decisive role of the market in allocating human resources, along with the government playing a due role. The mechanisms of training, using, evaluating, supporting and encouraging creativity of talent should be improved, and professionals should be free from unnecessary institutional constraints. To enhance the international competitiveness of Chinese professionals, the country should build a network of exchanges and cooperation in science, technology and education with other countries. High-level experts from all over the world and outstanding young talent are welcomed to study and work in China, said Shi Changhui, also a researcher at CASTED. This article is written in cooperation with the Chinese Academy of Science and Technology for Development.
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BloombergNEF ranks LONGi 100% bankable in its 2022 report
XI'AN, China, Nov. 29, 2022 /PRNewswire/ -- The BloombergNEF (BNEF) PV Module and Inverter Bankability report for 2022 has once again ranked LONGi as 100% bankable globally, based on the company's financial stability and capacity. The ranking is based on BNEF's annual survey of those involved in the global solar industry regarding PV module brands and new technologies. Survey responses were sought from banks, funding institutions, engineering procurement and construction firms (EPCs), independent power producers (IPPs) and technical advisers from organisations involved in 557GW of financed capacity. All respondents recognised LONGi's bankability and strongly endorsed the company's reliability. For developers, investors and asset owners, a range of metrics exist for assessing a manufacturer's bankability, particularly installed capacity and financial stability. In terms of capacity in the field, the BNEF renewable asset database, containing details of over 40,000 PV assets, tracks module brands deployed in financed projects. LONGi has the largest module capacity for term-loan financed projects since 2020, currently standing at 4.7 GW. In terms of financial stability, the financial health of a manufacturer is an important consideration for banks, with LONGi posting one of the two highest scores in the widely recognised Altman-Z metric used as a related measurement tool. The BNEF survey also provides insights into new module technology, indicating 182mm to currently be the dominant size, third party experts suggesting that 182 makes it easier for manufacturers to source standardized components such as backsheets, glass, EVA and aluminium frames, with tracker compatibility also considered to be more straightforward. In terms of solar cell technology, analysts predict that manufacturing capacity of TOPCon and HJT will increase over the next two years, without completely replacing p-PERC cells. Global technical consultants also issued certain risk warnings, including the possibility of increased UV degradation of high-efficiency cells. They were also concerned about TOPCon's PID and DH testing, stating that the industry needed to see more field performance of n-type cells and that there must be a clear economic incentive to switch to TOPCon or HJT. LONGi has conducted comprehensive and in-depth research on various new cell technologies, and the products launched to the market have been fully evaluated and verified, which can effectively guarantee the high quality and stable performance of large-scale mass production products. "We are delighted to once again be rated 100% bankable by BNEF, which represents a high level of global recognition for LONGi. As a leader in solar technology, the company prioritizes end-user value, maintaining operational stability and robust financial health, while continuing to focus on ongoing technical innovation," commented VP Dennis She. About LONGi Founded in 2000, LONGi is committed to being the world's leading solar technology company, focusing on customer-driven value creation for full scenario energy transformation. Under its mission of 'making the best of solar energy to build a green world', LONGi has dedicated itself to technology innovation and established five business sectors, covering mono silicon wafers cells and modules, commercial & industrial distributed solar solutions, green energy solutions and hydrogen equipment. The company has honed its capabilities to provide green energy and has more recently, also embraced green hydrogen products and solutions to support global zero carbon development. www.longi.com/en
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Study travel courses make outdoor classes both educational and entertaining in east China
JIAXING, China, Nov. 28, 2022 /PRNewswire/ -- Xiangjiadang, a scenic lakeside area in Jiaxing City, east China's Zhejiang Province, is bathing in a brilliant golden yellow color in early winter. Recently, a study travel activity featuring nature and farming experiences attracted the participation of many teachers and students in local primary and secondary schools. Students take a photo with their drawings of rice. The children, accompanied by their parents, went to the fields of Xiangjiadang to sketch and harvest rice. With a palette in one hand and a paintbrush in the other, some students, like little painters, painted the rice in front of them. Meanwhile, other students rolled up their sleeves and harvested the rice like farmers. They carefully stacked the cut rice neatly together and waited for the threshing. What they held in hands was not only the harvested rice, but also a sense of achievement. After experiencing the charm of the rice paddies and the fun of the autumn harvest, the students also explored a digital factory, and visited the Red Boat Zongzi (a glutinous rice dumpling wrapped in bamboo leaves) plant to learn about the time-honored brand's development. In each of the study travel bases, they got to learn about the hard work of farming and farmers' fortitude through field trips. "Xiangjiadang is close to the downtown area and features the integration of water towns, pastoral scenery and natural lake scenery in the south of the Yangtze River. It is wonderful to let the children feel the richness and beauty of our land of fish and rice in places nearby," One of the students' parents said after participating in the activity. Located in the northeast of Jiaxing, Xiangjiadang enjoys a natural endowment of 10,000 mu of nourishing farmland, 10,000 mu of water and 10,000 mu of forest. Since the beginning of this year, the region has paid special attention to the quality and popularity of the study travel courses to develop in-depth study tours, according to Jiaxing Xiangjiadang Regional Development and Construction Management Committee. For example, the region has rolled out a farming experience course in the agricultural sector, including trying transplanting rice in spring and harvesting rice in autumn. The study travel course allows students to experience the whole process of farming throughout the year, enhances their practical ability, enriches contacts with the natural pastoral life, relaxes their body and mind, cultivates the good habit of cherishing food, and makes study travel truly an educational and entertaining second classroom. Since the beginning of this year, Xiangjiadang has received more than 5,000 visitors from Jiaxing Experimental Primary School, Jiaxing Xiuzhou Middle School, Northeast Normal University and other study travel teams. The students can stay close to the nature while feel the charm of technology. These experiences will become wonderful memories that will stay with them for years to come. Image Attachments Links:Link: http://asianetnews.net/view-attachment?attach-id=435032Caption: Students take a photo with their drawings of rice.
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A new start: Learn, Grow and Thrive at iBHE, Tsinghua SIGS
SHENZHEN, China, Nov. 28, 2022 /PRNewswire/ -- Keer HU, enrolled in the Bioengineering and Translational Medicine program at the Institute of Biopharmaceutical and Health Engineering(iBHE), Tsinghua Shenzhen International Graduate School (SIGS), is a freshman in the class of 2022. Also working on many projects as a young designer, she has won many awards and exhibition invitations at home and abroad, including the winner of The James Dyson Award funded by a British invention foundation and the Grand Prize in the Future Fashion Technology Competition hosted by Tsinghua University. And she is the first Chinese participant who has won the Outstanding Science Prize at Biodesign Challenge. In one of her projects, a Wearable Self-driven Cyanobacteria Power Generation Material, she tried to make innovation by integrating knowledge of microorganisms, energy, materials and product design to address sustainability challenges. Her research works have also been exhibited in Triennale Milano, New York Design Week, World Design Cities Conference and many other international exhibitions. Institutue of Biopharmaceutical and Health Engineering(iBHE), Tsinghua SIGS She said when she dedicates herself to the issues on human health and sustainable development, she always gain a tremendous sense of self-value. To achieve her strong cross-disciplinary research interest at the intersection of biology, engineering and design, she chose to start her future study at iBHE, Tsinghua SIGS. Talking about her studying experience at iBHE, she said, "Tsinghua SIGS provides an open and inclusive academic exchange platform and rich opportunities for industry-academia-research cooperation for interdisciplinary students like her. It is an ideal place to improve my scientific literacy and innovative abilities through more specialized studies and research. Both Mentors and course instructors are very open to academic communication. At the same time, students are able to learn a lot from seniors and classmates from different professional backgrounds. Besides, the campus life here is full of joyfulness and excitement,I enjoyed and learnt a lot in participating in the sports events, entrepreneurial events, cultural activities and building activities of students' organization. Studying here is definitely a wise choice!" The Institute of Biopharmaceutical and Health Engineering (iBHE) aims to explore the frontiers of health technology and engineering for human wellness. We offer 5 Doctoral Programs and 4 Master's Programs. Click here to know more, https://www.sigs.tsinghua.edu.cn/en/biopharmaceutical_health_engineering/list.htm Admission 2023 is still open.http://gradadmission.tsinghua.edu.cn/f/login Contact:Institute of Biopharmaceutical and Health Engineering86-755-2640 4909ibhe_admission@sz.tsinghua.edu.cn
