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Metabolon Unveils New Integrated Bioinformatics Platform
Metabolon's cutting-edge bioinformatics platform and unique knowledge base will enable customers to leverage the company's extensive biochemistry experience MORRISVILLE, N.C., Feb. 29, 2024 /PRNewswire/ -- Metabolon, Inc., the global leader in providing metabolomics solutions advancing a wide variety of life science research, diagnostic, therapeutic development, and precision medicine applications, today announced at Biomarkers UK the launch of its latest innovation: an integrated bioinformatics platform, advancing the landscape for metabolomics analysis in life sciences research. Backed by over twenty years of industry-leading experience and a proprietary database of more than 5,400 biologically relevant metabolites, the platform seamlessly integrates a comprehensive suite of tools and features, including: Pathway Analysis: Allows researchers to index their metabolomics data on Metabolon's hyper-accurate biochemical pathway maps to uncover how different biological processes operate, providing insights into disease mechanisms, therapeutic targets, and more. Biomarker Lenses™: A powerful Metabolon-unique feature that gives users advanced analytical filters to enhance the exploration of metabolomic data by focusing on metabolites associated with specific pathways and diseases. Principle Component Analysis (PCA): Helps researchers reduce complex datasets and visualize research results. Partial Least Squares–Discriminant Analysis (PLS-DA): Facilitates the interpretation of complex datasets, enabling the identification of distinctive biomarkers that drive group separation. Clustering: Allows researchers to organize metabolites and samples into meaningful groups based on metabolite profiles. Volcano Plots: Helps researchers identify statistically significant changes in large datasets to reveal biologically relevant metabolites. "I love working with Metabolon data. Metabolon is an incredibly forward-thinking company, actively engaging with the evolving interdisciplinary challenges of robust clinical metabolomics," said David Broadhurst, Professor of Biosystems Data Science at Edith Cowan University in Australia. "Metabolon has developed a solid, scalable solution to the non-trivial problem of metabolomics biochemical interpretation, specifically tailored to their world-leading data acquisition platform. Leveraging decades of experience in data curation, Metabolon provides intuitive visualization tools for pathway analysis and disease association, adding even more value to an already outstanding product." In the era of precision medicine, advanced analytics and big data play a pivotal role. However, significant time is still lost to manual data organization and preparation. Metabolon's new bioinformatics platform alleviates much of this manual burden, with client data pre-populated and ready for analysis, accelerating discovery with publication-ready charts, plots, data tables, and insights. The user-friendly interface empowers researchers, regardless of their expertise, to manipulate complex analytics and large data sets effortlessly and accurately with just a few clicks. Moreover, the pathway analyses and biomarker lenses offer cutting-edge solutions that enable users to concentrate on understanding the biology driving their data. The tool prioritizes user convenience by securely storing data. Researchers no longer need to go through the hassle of repeatedly uploading and reconfiguring plots; the tool's streamlined process enables them to run additional analytics and biochemical pathway mapping seamlessly. "Metabolon is thrilled to unveil this groundbreaking bioinformatics platform, marking a significant leap forward in metabolomics research," said Dr. Ray Moran, Senior Director of Bioinformatics at Metabolon. "By combining our extensive industry experience with cutting-edge technology, we are empowering researchers to navigate complex data effortlessly and accelerate discoveries in the life sciences." About MetabolonMetabolon, Inc. is the global leader in metabolomics, with a mission to deliver biochemical data and insights that expand and accelerate the impact of life sciences research and complement other 'omics' technologies. With more than 20 years, 10,000+ projects, 3,000+ publications, and ISO 9001:2015, CLIA, and CAP certifications, Metabolon has developed industry-leading scientific, technology, and bioinformatics techniques. Metabolon's Global Discovery Panel is enabled by the world's largest proprietary metabolomics reference library. Metabolon's industry-leading data and translational science expertise help customers and partners address some of the most challenging and pressing questions in the life sciences, accelerating research and enhancing development success. The company offers scalable, customizable multiomics solutions, including metabolomics and lipidomics, supporting customer needs from discovery through clinical trials and product life-cycle management. For more information, please visit www.metabolon.com and follow us on LinkedIn and Twitter.
Generative AI Advances Showcased at MWC 2024
The Chinese company iFLYTEK has released AI-generated content applications for enterprises and beyond. BARCELONA, Spain, Feb. 29, 2024 /PRNewswire/ -- MWC Barcelona, held this year on February 26-29, is one of the global telecommunications sector's pre-eminent expos. It attracts industry giants including telecom operators, equipment providers and smartphone manufacturers from around the world—and iFLYTEK, a leading Chinese AI company known for its groundbreaking work in voice recognition and natural language processing. China has been an important spur for global economic growth, first powered by its manufacturing exports and more recently by its tech companies. Within the decade, Chinese players like Huawei have been gradually expanding overseas. In the heated competition to develop AGI, or artificial general intelligence, the two main contenders have been China and the United States. While the U.S. is still in a leading position, China has also developed many large model applications in areas like enterprise services. iFLYTEK has begun to promote AGI-based products globally. The company has introduced an array of applications driven by generative AI and deep learning, including enterprise services, intelligent marketing and smart living environments. These offerings are distinguished from the more generalized tool-based applications and software developed by U.S. companies like OpenAI and Midjourney as being more directly aimed at fulfilling the specific requirements of businesses and consumers. Business management solutions: SparkDash Dubbed "Dash," this product serves as B2B business decision-support software, designed to alleviate the challenges managers face when navigating complex and evolving information landscapes. SparkDash leverages advanced technologies such as auto speech recognition, large models and avatars, enabling seamless integration with diverse corporate systems and data sources. This integration helps managers gain a comprehensive, precise and quick overview of business operations, facilitating informed decision-making. SparkDash features virtual human narrators who respond to queries about operational data as if they were real-life colleagues, helping to simplify and enhance workplace dynamics. For company leaders, SparkDash can serve as an operational management hub or an analytical assistant during business meetings. For staff and products, respectively, the software can work as a data assistant or promotional aide. Imagine managing an offline media advertising firm with extensive elevator and billboard ad resources. SparkDash enables rapid and precise visualization of sales control data across locations through natural language inquiries. It integrates multiple dimensions such as sales status, publication rates, viewership, and conversion rates to evaluate and analyze the potency of advertising spaces. Furthermore, in pre-sale customer interactions, SparkDash can provide a standardized presentation of the company's site resource sales strategies to the clients, ensuring clear and professional communication. SparkDash is composed of modules for business scenarios, interaction and data analysis, underpinned by AI technologies including large models, virtual humans and semantic knowledge bases. It offers flexible deployment options, including software-as-a-service and on-premises, with a low entry barrier thanks to its intuitive drag-and-drop configuration. iFLYTEK's Multilingual SI SystemInternational conferences have traditionally employed simultaneous interpreters on-site, primarily serving key participants. The Multilingual SI System developed by iFLYTEK transforms this field by capturing conference audio for voice-to-text processing and delivering transcribed and translated content back to the conference screen in real time. This greatly enhances communication efficiency while respecting participants' diverse cultures and languages. Currently, iFLYTEK's Multilingual SI System can translate languages that include Chinese, English, French, Russian, German, Japanese, Korean, Spanish and Arabic. Enterprise lead generation and conversion: iFLYTEK SparkGenRevolutionizing video content creation is SparkGen, which enables users to effortlessly produce digital spokesperson videos. Since video content tends to be more informative and engaging than static images, it can significantly benefit brand owners and e-commerce sellers by providing a quick understanding of product features on websites and product pages, thus enhancing user interest, dwell time and, ultimately, conversion rates. With SparkGen, brands and sellers can create audiovisual content by simply inputting a script and selecting a virtual host, eliminating the need for high production costs and specialized editing skills. This user-friendly approach allows for the rapid generation of promotional videos, streamlining marketing material production and maximizing efficiency. Smart living with Smart Voice PanelThe Smart Voice Panel represents a new era of smart living, offering a seamless, personalized home experience. At the moment of homecoming, curtains close, lamps gently turn on and a friendly voice extends a greeting while selected music starts to play. Without the need for remote controls and switches, the system makes smart home interaction more intuitive and enjoyable. Smart Voice Panel transcends previous smart home solutions by offering integrated control, conversational interface and adaptive scenes in collaboration with the real estate and home furnishing industries, setting a new benchmark for quality living. It resolves the challenges of fragmented control and poor interaction associated with intelligent interaction, allowing for comprehensive voice control over home appliances and systems. The Smart Voice Panel's reliance on iFLYTEK's leading voice technology allows for intelligent interactions with home systems. It is equipped with a large language model (LLM), enabling capabilities such as multi-turn dialogue, multi-intent understanding, and personalized scenario generation, truly creating a tailored and attentive butler for each user. Furthermore, it offers a secure, offline functionality that safeguards user privacy and data while delivering a trustworthy smart home experience. Chinese AI connecting the worldAt MWC, iFLYTEK introduced a range of applications powered by generative AI and deep learning, heralding a new chapter in the productivity revolution. Later this year, the Chinese company is set to introduce enterprise services and smart living solutions in Dubai and Southeast Asia, marking another step in its global expansion. Generative AI represents a significant breakthrough in the dedicated research into artificial intelligence as AI-driven applications become integrated into business practices and everyday life. This shift is sparking a sea change in productivity and creativity, potentially transforming roles, services and application paradigms across various industries. Entrepreneurs and business leaders in all sectors are being encouraged to embrace and leverage artificial intelligence to adapt and thrive in these rapidly evolving times, and thus bolster their competitive edge.
HGC Vice President, Advanced Solutions and Services, Daniel Ho honoured with the "Cyber Security Professional Awards 2023"
HONG KONG, Feb. 29, 2024 /PRNewswire/ -- HGC Global Communications Limited ("HGC" or "the Group") Daniel Ho, Vice President, Advanced Solutions and Services, is honoured with the "Cyber Security Professional Awards 2023" – Silver Award in Telecommunications Services sector. This prestigious recognition acknowledges his innovative contributions to network security and highlights the formidable strength of HGC in the industry. Photo caption：Daniel Ho, Vice President, Advanced Solutions and Services, honoured with the “Cyber Security Professional Awards 2023” – Silver Award in Telecommunication Services sector. With over 20 years of experience in the ICT and telecommunications industry, Daniel has been dedicated to contributing to Cyber Security. Leveraging his expertise in Cyber Security management as well as ICT professional knowledge and practical experience, Daniel has been instrumental in establishing and implementing managed security services that continuously monitors and responses to cyber-attacks, resulted in driving client's business growth. This commitment showcases his strong capabilities in managing cyber risks. Meanwhile, as a representative of HGC, Daniel's recognition further highlights the extensive and profound knowledge of cyber security within the Group, reinforces the commitment of HGC to provide top-notch, one-stop telecommunications and ICT solutions to its clients. Daniel Ho, Vice President, Advanced Solutions and Services of HGC Group, said, "I am very honoured to receive the award in the 'Cyber Security Professional Awards.' Being recognized my exceptional performance and professional abilities in Cyber Security, and I am grateful for the opportunity to have made a positive impact. Also, I would like to express my heartfelt gratitude to the Group for the continuously support in investing resources and promoting the needs of Cyber Security, which has allowed me and my empowered team to focus on driving and planning initiatives, in order to provide advanced Cyber Security protection solutions for a wide range of clients." Alvin Wong, Chief Operating Officer – ICT Business, Solutions and Product of HGC Group, said, "We are thrilled about Daniel's award achievement. Cyber Security is a globally recognized topic and a crucial aspect of enterprise digital transformation and the development of sustainable smart cities. HGC has always understood the positive impact that Cyber Security brings to businesses and society. Therefore, we prioritize planning and providing Cyber Security protection solutions to our clients and actively allocate resources towards training Cyber Security talents." The "Cyber Security Professional Awards" was first held in 2016 with the aim of recognizing the innovation and contributions of Cyber Security professionals across different sectors, facilitating the exchange of Cyber Security experiences and best practices, encouraging continuous improvement of skills and knowledge among Cyber Security personnel, and promoting corporate investment, innovation, and leadership in Cyber Security to drive industry advancement. This edition, the award encompasses eight different sectors, including Banking and Finance, Government Departments and Public Bodies, and Telecommunication Services. The award recognizes outstanding performance, innovative thinking, and leadership abilities demonstrated by individuals in their respective sectors. About HGC Global Communications Limited HGC Global Communications Limited (HGC) is a leading Hong Kong and international telecom operator and ICT solution provider. The company owns an extensive network and infrastructure in Hong Kong and overseas and provides various kinds of services. HGC has 19 overseas offices and staff presence in 31 cities worldwide. It provides telecom infrastructure service to other operators and serves as a service provider to corporate and households. The company provides full-fledged telecom, data centre services, ICT solutions and broadband services for local, overseas, corporate, SME and mass markets. HGC owns and operates an extensive fibre-optic network, five cross-border telecom routes integrated into tier-one telecom operators in mainland China and connects with hundreds of world-class international telecom operators. HGC is one of Hong Kong's largest Wi-Fi service providers, running over 29,000 Wi-Fi hotspots in Hong Kong. The company is committed to further investing and enriching its current infrastructure and, in parallel, adding on top the latest technologies and developing its infrastructure services and solutions. In 2019, HGC Group completed the acquisition of Macroview Telecom Limited (Macroview), a leading digital technology solution and managed services provider. The addition of Macroview further accelerates HGC Group's digital transformation path and positioning as a pioneering ICT and digital services leader. HGC is a portfolio company of I Squared Capital, an independent global infrastructure investment manager focusing on energy, utilities and transport in North America, Europe and selected fast-growing economies. To learn more, please visit HGC's website at: www.hgc.com.hk
Baicells Announces Agreement with Indonesian Operator PT Smartfren Telecom
Baicells to partner with Smartfren to supply network solutions for Private LTE and 5G for major connectivity programs DALLAS, Feb. 29, 2024 /PRNewswire/ -- Baicells Technologies, a leading provider of 4G LTE and 5G NR cellular network infrastructure, has announced an agreement with PT Smartfren Telecom, one of the major wireless operators in Indonesia, to deliver turnkey network solutions for Digital Industrialization, Automation, and Private Wireless offerings being introduced in 2024. Baicells, a turnkey provider of wireless network solutions that enable such programs, will operate as a one stop shop for PT Smartfren Telecom. Already the first trials have been completed and the initial deployment is a private LTE network serving large heavy mining environments outside of Jakarta. These types of highly tailorable networks are required to enable the fleet of autonomous vehicles being used, which are typically large earth moving and removal machines, safely transit the active work site. This is also helpful in the ongoing effort to maintain safety levels across a work location that can often be a host to large numbers of workers. Longer term, many other use cases can be added as necessary – IoT sensors, voice communications, video monitoring, and more. Often these mining environments can be in more remote areas that may have limited connectivity options and have use cases that are not well suited to alternatives like Wi-Fi. As a result, private wireless, with its ability to deliver specific QoS levels and low latency for enabling predictive performance necessary for autonomous vehicles, makes a very good fit, both technically and economically. The first deployments will operate on the LTE Band 40 (2300 MHz) and are expected to start going on air in Q1 2024. Baicells will contribute its portfolio of outdoor 4G LTE Nova and 5G NR Aurora all-in-one high power radios to PT Smartfren Telekom, who will operate as the service provider and system integrator. This new solution offering opens the door to all kinds of new opportunities with the enterprise. "We continue to experience rising demand for private networks to help deliver enterprises of all types the benefits in transforming their business with automation and more. Our products, with their attractive economics and operational simplicity, make a great fit for such initiatives as more and more carriers are learning." Bai Wei, Baicells GM for the International Division." Baicells is exhibiting at the annual Mobile World Congress in Barcelona from February 26-29. Visit the Baicells booth in Hall 2, Stand 2C44 to learn more about the project and network solutions. About Baicells Baicells is a global technology company offering turnkey 4G and 5G Network Solutions, providing new economic models for service providers, enterprises, and communities. With commercial deployments in over 60 countries, offices on five continents, and an engineering portfolio of 500 patents, Baicells has established itself as a technology leader. Baicells currently has delivered more than 700 commercial deployments worldwide. Baicells innovations connect the unconnected. For more information, please visit www.baicells.com.
IBM Announces Availability of Open-Source Mistral AI Model on watsonx, Expands Model Choice to Help Enterprises Scale AI with Trust and Flexibility
IBM offers an optimized version of Mixtral-8x7B that showed potential to cut latency by up to 75% Adds to growing catalogue of IBM, third-party and open-source models to give clients choice and flexibility Latest open-source model available on watsonx AI and data platform with enterprise-ready AI studio, data store and governance capabilities ARMONK, N.Y., Feb. 29, 2024 /PRNewswire/ -- IBM (NYSE: IBM) today announced the availability of the popular open-source Mixtral-8x7B large language model (LLM), developed by Mistral AI, on its watsonx AI and data platform, as it continues to expand capabilities to help clients innovate with IBM's own foundation models and those from a range of open-source providers. IBM offers an optimized version of Mixtral-8x7B that, in internal testing, was able to increase throughput — or the amount of data that can be processed in a given time period — by 50 percent when compared to the regular model.1 This could potentially cut latency by 35-75 percent, depending on batch size — speeding time to insights. This is achieved through a process called quantization, which reduces model size and memory requirements for LLMs and, in turn, can speed up processing to help lower costs and energy consumption. The addition of Mixtral-8x7B expands IBM's open, multi-model strategy to meet clients where they are and give them choice and flexibility to scale enterprise AI solutions across their businesses. Through decades-long AI research and development, open collaboration with Meta and Hugging Face, and partnerships with model leaders, IBM is expanding its watsonx.ai model catalog and bringing in new capabilities, languages, and modalities. IBM's enterprise-ready foundation model choices and its watsonx AI and data platform can empower clients to use generative AI to gain new insights and efficiencies, and create new business models based on principles of trust. IBM enables clients to select the right model for the right use cases and price-performance goals for targeted business domains like finance. Mixtral-8x7B was built using a combination of Sparse modeling — an innovative technique that finds and uses only the most essential parts of data to create more efficient models — and the Mixture-of-Experts technique, which combines different models ("experts") that specialize in and solve different parts of a problem. The Mixtral-8x7B model is widely known for its ability to rapidly process and analyze vast amounts of data to provide context-relevant insights. "Clients are asking for choice and flexibility to deploy models that best suit their unique use cases and business requirements," said Kareem Yusuf, Ph.D, Senior Vice President, Product Management & Growth, IBM Software. "By offering Mixtral-8x7B and other models on watsonx, we're not only giving them optionality in how they deploy AI — we're empowering a robust ecosystem of AI builders and business leaders with tools and technologies to drive innovation across diverse industries and domains." This week, IBM also announced the availability of ELYZA-japanese-Llama-2-7b, a Japanese LLM model open-sourced by ELYZA Corporation, on watsonx. IBM also offers Meta's open-source models Llama-2-13B-chat and Llama-2-70B-chat and other third-party models on watsonx, with more to come in the next few months. Statements regarding IBM's future direction and intent are subject to change or withdrawal without notice and represent goals and objectives only. Media Contact: Amy Angelinialangeli@us.ibm.com 1 Based on IBM testing over two days using internal workloads captured on an instance of watsonx for IBM use.
Huawei Unveils NeoSight, a Next-Generation Lightweight Converged Management System for the Commercial Market
BARCELONA, Spain, Feb. 29, 2024 /PRNewswire/ -- At MWC Barcelona 2024, David Shi, Vice President of Huawei ICT Marketing & Solution Sales, unveiled NeoSight — a next-generation, lightweight, converged management system designed for the commercial market. NeoSight provides a comprehensive, lightweight, simplified, and centralized O&M experience for small- and medium-sized enterprises(SMEs). David Shi, Vice President of Huawei ICT Marketing & Solution Sales, unveiled NeoSight As intelligent transformation continues gaining momentum across various industries worldwide, SMEs face numerous challenges, including isolated systems, difficulty in locating faults, and delayed troubleshooting. To address these challenges, Huawei has launched NeoSight, a next-generation lightweight converged management system with several advantages. Full-stack visualization: Digital twin technology is implemented to automatically restore and lay out the full-stack topology without manual intervention, enabling out-of-the-box usage and visualizing all terminal connections. Intelligent assistant: The eMaster AI assistant automatically traces fault paths and root causes. This simplifies O&M and improves diagnosis efficiency. Mobile O&M: The eFly app is automatically interconnected to enable remote collaboration with service partners and realize efficient O&M. Li Sheng, General Manager of Huawei's Enterprise O&M System Solution, emphasized the importance of O&M as a crucial process to guarantee stable, efficient, and secure service operations. NeoSight aims to work closely with premium ecosystem partners to foster open collaboration and continuous innovation across diverse industries and establish itself as the most reliable centralized O&M management system facilitating intelligent transformation.
Infinix's Flagship Mobile Gaming Innovation Steals the Show, Wins Multiple Best of MWC 2024 Awards
BARCELONA, Spain, Feb. 29, 2024 /PRNewswire/ -- Infinix, a trendy tech brand crafted for young consumers, is thrilled to announce its selection as a winner of the Best of MWC 2024 awards from multiple news outlets after showcasing its groundbreaking new flagship-level gaming technology at ShowStoppers MWC 2024, the official networking event partner for Mobile World Congress. This new concept gaming technology is set to redefine the mobile gaming experience with its cutting-edge smartphone gaming technology enhanced by AI. "We are overjoyed to have pushed the boundaries of mobile gaming technology to unprecedented heights at MWC. The tremendous honor of winning the esteemed Best of MWC 2024 awards from globally renowned media outlets underscores our unwavering dedication and passion to deliver the cutting-edge mobile gaming technology that captivates and inspires young professional gamers worldwide. This recognition reaffirms our commitment to continuously bring forth the most innovative and exhilarating gaming experiences for the next generation of gamers," said Tony Zhao, General Manager of Infinix. The new technology has surpassed AnTuTu benchmarks with a score of an unprecedented 2,215,639. This achievement is made possible by integrating the MediaTek Dimensity 9300 chipset, a world-class self-developed CoolMax system, and an AI management platform. These innovations work seamlessly together to ensure users enjoy the best possible mobile gaming experience. Infinix has also showcased its industry-leading technologies, such as Infinix AirCharge, Infinix E-Color Shift, and Extreme-Temp Battery, which have amazed global audiences and the press. Infinix's Flagship-Level Mobile Gaming Innovation Steals the Show at ShowStoppers MWC 2024 Infinix proudly received the esteemed Gadgety Awards, recognizing the best and most cutting-edge consumer electronics in the world. This award, titled Best of Showstopper MWC 2024, was bestowed upon Infinix's first dual-core flagship mobile gaming concept technology, showcasing their commitment to pushing the boundaries of mobile gaming. Additionally, Infinix's groundbreaking technology received another notable award from GadgetMatch, a top-tier technology media outlet, for 'Best of MWC 2024'. Infinix has also received other notable media awards, including: TrustedReviews' Best in Show MWC 2024 for Infinix's E-Color Shift Technology Yanko Design's Best of MWC 2024 for Infinix E-Color Shift Technology FoneArena's Best Product of MWC 2024 for Infinix AirCharge Mashable Middle East's Best of MWC 2024: Best Phone for Infinix E-Color Shift Technology For more details visit: http://www.infinixmobility.com/ About Infinix: Inﬁnix Mobility is a rapidly emerging technology brand that designs, manufactures and markets an expanding portfolio of smart devices worldwide under the Inﬁnix brand, which was founded in 2013. Targeting today's youth with ﬁrst in class technology, Inﬁnix creates trendy, powerful and attainably priced smart devices that bring the latest technology on the market to users around the world at a time when they need it at a price that they want. For more information, please visit: http://www.infinixmobility.com/
ZTE pioneers innovative green solution for zero-carbon communication for Telefónica Germany
ZTE achieved a significant milestone by successfully implementing a zero-carbon energy solution for a telecom site of Telefónica Germany This successful case provides valuable experience for future applications and challenges for the supply of rural areas BARCELONA, Spain, Feb. 29, 2024 /PRNewswire/ -- ZTE Corporation (0763.HK / 000063.SZ), a global leading provider of information and communication technology solutions, has achieved a significant milestone by successfully implementing a zero-carbon energy solution that supplies a telecom site of Telefónica Germany. This groundbreaking project utilizes ZTE's innovative green power solution that combines solar energy, methanol-powered hydrogen fuel cells, and intelligent energy storage. ZTE pioneers innovative green solution for zero-carbon communication for Telefónica Germany The collaboration between ZTE and Telefónica Germany marks the first commercial deployment of such a green solution in Germany. For network operation, Telefónica Germany uses technology from one of its national network suppliers. Challenges arise when it comes to accessing grid power in remote locations, as it often involves lengthy construction periods and high costs. To overcome these obstacles, ZTE explored a new green and efficient solution for Telefónica Germany that meet the demands of a rapidly changing world. The final implementation took into account environmental friendliness, sustainability, and affordability, demonstrating superior performance in multiple areas. The proposed solution from ZTE solves multiple challenges by combining solar power with methanol-powered hydrogen fuel cells. By relying primarily on solar energy and supplementing with hydrogen fuel cells during winter, the solution achieves 100% power availability, ensuring uninterrupted energy supply for the telecom site – and therefore smooth communication services for the residents in the remote area as well as eliminating worries about disruptions with their connectivity to the global network. The green solution stands out for its minimal carbon footprint. The combination of solar energy and methanol-powered hydrogen fuel cells results in only water and a minimal amount of carbon dioxide as byproducts. This not only reduces carbon emissions but also aligns with the high standards for sustainable development set by the German government and enterprises. By adopting this ultimate green energy solution, Telefónica Germany demonstrates its commitment to environmental responsibility and sets an example for other companies in the telecommunications industry. Furthermore, the solution, leverages methanol hydrogen production within the module, and thereby eliminates the risks associated with hydrogen storage and transportation, making it safer and more environment-friendly compared to traditional hydrogen fuel cells. Backed up with this reliable and secure energy supply, Telefónica Germany delivers excellent communication services without compromising safety or sustainability at the pilot site. ZTE's green solution can be extended to other European operators, contributing to the industry-wide goal of carbon neutrality. By sharing its expertise, ZTE is dedicated to driving the telecommunications industry towards a greener and more sustainable future. ZTE has been committed to continuous innovations for carbon neutrality. The company will actively explore new and diverse application scenarios in collaboration with its partners, making substantial contributions to both society and the environment. About Telefónica Germany:O2 Telefónica is a leading full-service provider of telecommunications services for consumers and business customers. The portfolio of the core brand O2 and various secondary and partner brands includes not only traditional telephony and Internet connections but also innovative digital services in the area of the Internet of Things and data analysis. In mobile communications, O2 Telefónica serves more than 45 million mobile lines (incl. M2M - as of December 31, 2023). No other network operator connects more people in this country. The company's high-performance, award-winning mobile network reaches over 99% of the population. In the fixed network, O2 Telefónica offers its customers the greatest technological diversity and geographical availability of any provider in Germany. Telefónica Deutschland Holding AG has been listed on the Frankfurt Stock Exchange since 2012. In fiscal year 2023, the company generated revenues of EUR 8.6 billion with around 7,500 employees. The company is majority-owned by the Madrid-based Spanish telecommunications group Telefónica S.A., one of the largest telecommunications groups in the world. ABOUT ZTE:ZTE helps to connect the world with continuous innovation for a better future. The company provides innovative technologies and integrated solutions, and its portfolio spans all series of wireless, wireline, devices and professional telecommunications services. Serving over a quarter of the global population, ZTE is dedicated to creating a digital and intelligent ecosystem, and enabling connectivity and trust everywhere. ZTE is listed on both the Hong Kong and Shenzhen Stock Exchanges. www.zte.com.cn/global FOLLOW US:Facebook www.facebook.com/ZTECorpTwitter www.twitter.com/ZTEPressLinkedIn www.linkedin.com/company/zteYouTube www.youtube.com/@ZTECorporation MEDIA INQUIRIES:ZTE CorporationCommunicationsEmail: ZTE.email@example.com
Swissbit at Embedded World 2024
Storage and security specialist Swissbit will present selected innovations and product highlights at the Embedded World 2024 trade fair in Nuremberg, Germany (April 9-11, Booth 1-543). In the memory segment, Swissbit will focus on its PCIe high-performance portfolio, including the N5200 SSD, which stands out with its industry leading IOPS per watt ratio, as well as on versatile embedded solutions for industrial and IoT applications. In the security segment, the company will showcase its new iShield Key Pro with USB-C as well as CmReady-certified memory cards for efficient license protection. High-End PCIe SSDs for edge computing and enterprise servers Swissbit meets the constantly growing demands for storage solutions in the areas of edge computing, server environments, enterprise solutions, data centers and network routers with its expanded range of high-end PCIe SSDs. The portfolio is led by the N5200, which is characterized by its outstanding reliability, durability, and scalability. The product family consumes up to 30 percent less power compared to other PCIe Gen4 SSDs and sets standards in terms of performance per watt. Another component of the high-end offering is the N3202, a member of the N3000 family. Developed for demanding applications in edge servers and network infrastructures, the SSD combines reliability and endurance with its robust design, the integrated Swissbit powersafe® PLP technology, and advanced security features. The N3202 uses eTLC flash memory with a DRAM-based controller architecture and offers an endurance rating of up to 1.5 DWPD (Drive Writes Per Day) over a period of five years. Embedded storage solutions: Versatility for the IoT and more Swissbit will also present in Nuremberg its embedded portfolio, which is designed for the challenges in automation, gateways, and green IoT applications. The products include the N2000 series, a DRAM-less PCIe SSD with host memory buffer support as an efficient solution for embedded applications that require lower power consumption and smaller form factors. For applications with limited storage requirements in the green IoT area such as charging stations or smart meters, Swissbit will showcase e.MMCs and SD memory cards from the EM-30 and S-56(u) series with capacities ranging from 4 to 8 GB, which offer high reliability and endurance while also providing cost-efficient performance. Featuring USB-C: New FIDO2 security key Further expanding its range of hardware security keys, Swissbit will showcase the new iShield Key Pro with USB-C interface for the first time in Nuremberg. Like the USB-A version, the stick supports the FIDO2 standard as well as PIV (Personal Identity Verification) and HOTP (Hash-Based-One-Time-Password) and TOTP (Time-Based One-Time Password). The iShield Key Pro can also be used for physical access control, making it one of the most flexible security keys. In addition to USB-C, it also features an NFC interface. License protection: Swissbit memory cards with CmReady label The new PS-66(u) DP SD and microSD cards offer not only the usual robustness and industrial suitability but also a very special feature: they are certified for CmReady from WIBU, thus extending the CodeMeter technology to software protection and licensing. The use of Swissbit memory cards as an additional license container within the CodeMeter ecosystem offers manufacturers of embedded and IoT devices an efficient and cost-effective solution for license protection. Together with WIBU, Swissbit will showcase a demo of the CmReady functionality at the Swissbit booth.
Group-IB reveals Hi-Tech Crime Trends 23/24: surge in ransomware against backdrop of growing AI, macOS threats
MINISO Group Will Report December Quarter 2023 Financial Results on March 12, 2024
GUANGZHOU, China, Feb. 29, 2024 /PRNewswire/ -- MINISO Group Holding Limited (NYSE: MNSO; HKEX: 9896) ("MINISO", "MINISO Group" or the "Company"), a global value retailer offering a variety of trendy lifestyle products featuring IP design, today announced that it plans to release its December quarter 2023 financial results before the U.S. market opens on Tuesday, March 12, 2024. The Company's management will hold an earnings conference call at 5:00 A.M. Eastern Time on Tuesday, March 12, 2024 (5:00 P.M. Beijing Time on the same day) to discuss the financial results. The conference call can be accessed by the following Zoom link or dialing the following numbers: Access 1 Join Zoom meeting. Zoom link: https://us06web.zoom.us/j/88486834973?pwd=hLtL1nO9NpERFFfgHFZVIZKCbqrlbB.1 Meeting Number: 884 8683 4973Meeting Passcode: 9896 Access 2 Listeners may access the call by dialing the following numbers by using the same meeting number and passcode with access 1. United States: +1 213 338 8477 (or +1 646 518 9805) Hong Kong, China: +852 5803 3730 (or +852 5803 3731) United Kingdom: +44 203 481 5237 (or +44 131 460 1196) France: +33 1 7037 9729 (or +33 1 7037 2246) Singapore: +65 3158 7288 (or +65 3165 1065) Canada: +1 438 809 7799 (or +1 204 272 7920) Access 3 Listeners can also access the meeting through the Company's investor relations website at https://ir.miniso.com/. The replay will be available approximately two hours after the conclusion of the live event at the Company's investor relations website at https://ir.miniso.com/. About MINISO Group MINISO Group is a global value retailer offering a variety of trendy lifestyle products featuring IP design. The Company serves consumers primarily through its large network of MINISO stores, and promotes a relaxing, treasure-hunting and engaging shopping experience full of delightful surprises that appeals to all demographics. Aesthetically pleasing design, quality and affordability are at the core of every product in MINISO's wide product portfolio, and the Company continually and frequently rolls out products with these qualities. Since the opening of its first store in China in 2013, the Company has built its flagship brand "MINISO" as a globally recognized retail brand and established a massive store network worldwide. For more information, please visit https://ir.miniso.com/. Investor Relations ContactRaine HuMINISO Group Holding LimitedEmail: firstname.lastname@example.orgPhone: +86 (20) 36228788 Ext.8039
Dingdong (Cayman) Limited Announces Fourth Quarter 2023 Financial Results
SHANGHAI, Feb. 29, 2024 /PRNewswire/ -- Dingdong (Cayman) Limited ("Dingdong" or the "Company") (NYSE: DDL), a leading fresh grocery e-commerce company in China, with advanced supply chain capabilities, today announced its unaudited financial results for the quarter ended December 31, 2023. Fourth Quarter 2023 Highlights: Non-GAAP net income for the fourth quarter of 2023 was RMB16.3 million (US$2.3 million), the fifth consecutive quarter of non-GAAP profitability. GMV of Jiangsu and Zhejiang for the fourth quarter of 2023 increased by 3.6% despite the high base resulting from the pandemic in the same quarter of 2022. Our private label products exceeded 20% of total GMV for the first time in the fourth quarter, up 3.1 percentage points compared with the same quarter last year. Among them, the non-fresh private label products accounted for 34.3% of total non-fresh GMV, up 7.7 percentage points compared to the same quarter of 2022. Net cash provided by operating activities for the fourth quarter of 2023 was RMB119.8 million (US$ 16.9 million), demonstrating the resilience of our business after COVID-19. Mr. Changlin Liang, Founder and Chief Executive Officer of Dingdong, stated, "In the fourth quarter, we recorded non-GAAP basis net income of RMB16.3 million, with a net profit margin of 0.3% on a non-GAAP basis. More importantly, we achieved non-GAAP profitability for the fifth consecutive quarter and for the full year for the first time which I believe reflects the strength of our long-term development strategy of "efficiency first, with due consideration of scale". We made significant progress at the operational level during 2023, despite the lingering effects of the pandemic and the operational adjustments we undertook. Going forward, we are confident that our GMV will regain growth momentum in 2024, and are confident that we will be able to maintain non-GAAP profitability once again. Even after factoring in the costs and expenses incurred by staying open during the Chinese New Year holiday, we expect to be profitable on a non-GAAP basis during the first quarter of 2024. Maintaining profitability in the current environment highlights the viability of our business model and provides us with additional resources to fuel our future development." Mr. Song Wang, Chief Financial Officer of Dingdong, stated, "Our efforts to improve the financial performance of the company has paid off, and we are proud to have moved from a non-GAAP annual loss margin of 30.4% in 2021 to a non-GAAP annual profit margin of 0.2% in 2023. It has taken us two years of hard work to reach this point, but we are pleased with the progress we have made and eagerly look forward to building upon this milestone. Additionally, we once again achieved net operating cash inflow in this quarter. At the end of 2023, our cash and cash equivalent, restricted cash and short-term investment after deducting the balance of short-term borrowings was 2.01 billion RMB, a net increase for the second consecutive quarter. For 2024, our primary focus will be to maintain our high-quality services and deliver products that offer the best cost-effectiveness and quality ratio to our valued customers. Furthermore, we will take advantage of our comprehensive supply chain and system capabilities to improve our operational efficiency and drive profitability." Fourth Quarter 2023 Financial Results Total revenues were RMB4,993.5 million (US$703.3 million) compared with total revenues of RMB6,200.6 million in the same quarter of 2022, primarily due to withdrawal from a number of cities and stations in the second quarter of this year. It was also caused by the high base effect during the same quarter of 2022 when more Covid infections drove a surge in order volumes. Product Revenues were RMB4,922.4 million (US$693.3 million) compared with product revenues of RMB6,138.0 million in the same quarter of 2022. Service Revenues were RMB71.0 million (US$10.0 million) compared with service revenues of RMB62.7 million in the same quarter of 2022, primarily driven by the increase of customers subscribing to Dingdong's membership program. Total operating costs and expenses were RMB5,029.8 million (US$708.4 million), a decrease of 18.3% from RMB6,154.5 million in the same quarter of 2022, with a detailed breakdown as below: Cost of goods sold was RMB3,467.8 million (US$488.4 million), a decrease of 16.7% from RMB4,162.0 million in the same quarter of 2022. Cost of goods sold as a percentage of revenues increased to 69.4% from 67.1% in the same quarter of 2022. Gross margin increased slightly to 30.6% from 30.4% in the third quarter of 2023. Fulfillment expenses were RMB1,179.1 million (US$166.1 million), a decrease of 21.1% from RMB1,493.6 million in the same quarter of 2022. Fulfillment expenses as a percentage of total revenues decreased to 23.6% from 24.1% in the same quarter of 2022. This was mainly due to the improved efficiency of regional processing centers and also the frontline employees. Sales and marketing expenses were RMB97.8 million (US$13.8 million), an increase of 7.3% from RMB91.1 million in the same quarter of 2022. Sales and marketing expenses as a percentage of total revenues increased slightly to 2.0% from 1.9% in the third quarter of 2023. General and administrative expenses were RMB93.9 million (US$13.2 million), a decrease of 36.9% from RMB148.8 million in the same quarter of 2022, mainly due to lower professional service fees and share-based compensation expenses. Product development expenses were RMB191.2 million (US$26.9 million), a decrease of 26.2% from RMB259.0 million in the same quarter of 2022, primarily due to our improved R&D human resources efficiency. While advocating for energy and resource saving, we will continue to invest in our product development capabilities, agricultural technology, data algorithms, and other technology infrastructure, to further enhance our competitiveness. Loss from operations was RMB21.9 million (US$3.1 million), compared with operating income of RMB52.5 million in the same quarter of 2022. Net loss was RMB4.4 million (US$0.6 million), compared with net income of RMB49.9 million in the same quarter of 2022. Non-GAAP net income, which is a non-GAAP measure that excludes share-based compensation expenses, was RMB16.3 million (US$2.3 million), compared with non-GAAP net income of RMB115.8 million in the same quarter of 2022. In addition, non-GAAP net income margin, which is the Company's non-GAAP net income as a percentage of total revenues, was 0.3% compared with 1.9% in the same quarter of 2022. Basic and diluted net loss per share were RMB0.02 (US$0.00), compared with net income per share of RMB0.15 basic in the same quarter of 2022. Non-GAAP net income per share, basic and diluted, was RMB0.04 (US$0.01), compared with RMB0.35 in the same quarter of 2022. Cash and cash equivalents and short-term investments were RMB5,309.2 million (US$747.8 million) as of December 31, 2023, compared with RMB6,493.0 million as of December 31, 2022. Conference Call The Company's management will hold an earnings conference call at 7:00 A.M. Eastern Time on Thursday, February 29, 2024 (8:00 P.M. Beijing Time on the same day) to discuss the financial results. The presentation and question and answer session will be presented in both Mandarin and English. Listeners may access the call by dialing the following numbers: International: 1-412-317-6061 United States Toll Free: 1-888-317-6003 Mainland China Toll Free: 4001-206115 Hong Kong Toll Free: 800-963976 Conference ID: 6141270 The replay will be accessible through March 7, 2024 by dialing the following numbers: International: 1-412-317-0088 United States: 1-877-344-7529 Access Code: 7472833 A live and archived webcast of the conference call will also be available at the Company's investor relations website at https://ir.100.me. About Dingdong (Cayman) Limited We are a leading fresh grocery e-commerce company in China, with sustainable long-term growth. We directly provide users and households with fresh produce, prepared food, and other food products through a convenient and excellent shopping experience supported by an extensive self-operated frontline fulfillment grid. Leveraging our deep insights into consumers' evolving needs and our strong food innovation capabilities, we have successfully launched a series of private label products spanning a variety of food categories. Many of our private label products are produced at our Dingdong production plants, allowing us to more efficiently produce and offer safe and high-quality food products. We aim to be the first choice for fresh and food shopping. For more information, please visit: https://ir.100.me. Use of Non-GAAP Financial Measures The Company uses non-GAAP measures, such as non-GAAP net income, non-GAAP net income margin, non-GAAP net income attributable to ordinary shareholders and non-GAAP net income per share, basic and diluted, in evaluating its operating results and for financial and operational decision-making purposes. The Company believes that the non-GAAP financial measures help identify underlying trends in its business by excluding the impact of share-based compensation expenses, which are non-cash charges and do not correlate to any operating activity trends. The Company believes that the non-GAAP financial measures provide useful information about the Company's results of operations, enhance the overall understanding of the Company's past performance and future prospects and allow for greater visibility with respect to key metrics used by the Company's management in its financial and operational decision-making. 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, and when assessing the Company's operating performance, cash flows or liquidity, investors should not consider them in isolation, or as a substitute for net loss, cash flows provided by operating activities or other consolidated statements of operations and cash flows data prepared in accordance with U.S. GAAP. The Company's definition of non-GAAP financial measures may differ from those of industry peers and may not be comparable with their non-GAAP financial measures. The Company mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company's performance. For more information on the non-GAAP financial measures, please see the table captioned "Unaudited Reconciliation of GAAP and Non-GAAP Results" set forth at the end of this announcement. Exchange Rate Information This announcement contains translations of certain RMB amounts into U.S. dollars ("US$") at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB7.0999 to US$1.00, the exchange rate on December 29, 2023 set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "confident," "potential," "continue," or other similar expressions. Among other things, business outlook and quotations from management in this announcement, as well as Dingdong's strategic and operational plans, contain forward-looking statements. Dingdong may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its interim and annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Dingdong's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Dingdong's goals and strategies; Dingdong's future business development, financial conditions, and results of operations; the expected outlook of the fresh grocery ecommerce market in China; Dingdong's expectations regarding demand for and market acceptance of its products and services; Dingdong's expectations regarding its relationships with its users, clients, business partners, and other stakeholders; competition in Dingdong's industry; and relevant government policies and regulations relating to Dingdong's industry, and general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this announcement and in the attachments is as of the date of the announcement, and the Company undertakes no duty to update such information, except as required under applicable law. DINGDONG (CAYMAN) LIMITED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands of RMB and US$) As of December 31, 2022 December 31, 2023 December 31, 2023 RMB RMB US$ (Unaudited) ASSETS Current assets: Cash and cash equivalents 1,856,187 1,209,225 170,316 Restricted cash 2,763 480 68 Short-term investments 4,636,774 4,099,977 577,470 Accounts receivable, net 141,468 107,879 15,194 Inventories, net 604,884 471,872 66,462 Advance to suppliers 83,835 73,732 10,385 Prepayments and other current assets 170,336 187,486 26,406 Total current assets 7,496,247 6,150,651 866,301 Non-current assets: Property and equipment, net 314,980 189,084 26,632 Operating lease right-of-use assets 1,425,117 1,262,134 177,768 Other non-current assets 145,563 96,687 13,618 Total non-current assets 1,885,660 1,547,905 218,018 TOTAL ASSETS 9,381,907 7,698,556 1,084,319 LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable 1,886,689 1,422,183 200,310 Customer advances and deferred revenue 253,010 240,280 33,843 Accrued expenses and other current liabilities 810,963 656,408 92,453 Salary and welfare payable 329,104 233,073 32,828 Operating lease liabilities, current 693,496 653,529 92,048 Short-term borrowings 4,237,978 3,300,214 464,825 Total current liabilities 8,211,240 6,505,687 916,307 Non-current liabilities: Operating lease liabilities, non-current 678,000 568,039 80,007 Other non-current liabilities 75,000 126,206 17,775 Total non-current liabilities 753,000 694,245 97,782 TOTAL LIABILITIES 8,964,240 7,199,932 1,014,089 DINGDONG (CAYMAN) LIMITED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED) (Amounts in thousands of RMB and US$) As of December 31, 2022 December 31, 2023 December 31, 2023 RMB RMB US$ (Unaudited) LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY (CONTINUED) Mezzanine Equity: Redeemable noncontrolling interests 107,490 116,090 16,351 TOTAL MEZZANINE EQUITY 107,490 116,090 16,351 Shareholders' equity: Ordinary shares 4
LITEON Debuts Cutting-Edge Innovative 5GxAIxESG Applications and Highly Energy Efficient 5G Small Cell at MWC 2024
Elevate 5G Ecosystem with LITEON BARCELONA, Spain, Feb. 29, 2024 /PRNewswire/ -- LITEON Technology is participating in the 2024 MWC in Barcelona, Spain, from February 26 to 29. Proudly presenting the theme "Elevate 5G Ecosystem with LITEON", the company for the first time showcased various achievements from its collaborations with international and cross-domain ecosystem partners. Key highlights include 5G x AI x ESG innovative applications, energy-efficient small cell stations, and a complete series of integrated base stations. LITEON showcased its cutting-edge 5G solutions at 2024 MWC At the 2024 MWC, LITEON will present a wide latitude of achievements from 5G ecosystem collaborations, such as "5G Outdoor Private Network for AI empowered Soundscape Automatic Collection" project in cooperation with Far EasTone telecommunications as a successful example of innovative applications combining 5G, AI, and ESG. Moreover, LITEON also partnered with the worldly renowned testing solutions company, Keysight Technologies, who conducted real-time testing of the energy-efficiency performance of LITEON ORAN Radio Units with their E-Plane ETSI Test Suite. On another note, LITEON also teamed up with NXP® Semiconductors, a world leader in secure connectivity solutions and the strategic collaborator to develop reliable and flexible indoor, outdoor, and next-generation small cell stations. LITEON will also display solutions in collaboration with top-tier research institutes in Europe and Singapore, proving LITEON's complete range of 5G O-RAN products can meet diverse requirements of customers' applications in various verticals. Furthermore, LITEON 5G solutions fully comply with ESG policies, providing optimal small station solutions to customers. Richard Chiang, General Manager of Smart Life Application SBU at LITEON, stated, "The open architecture of 5G has profoundly and irretrievably transformed the dynamics of telecommunications market from the conventional closed-off landscape to a more disaggregated and open one. This trend is paving the road for a very prosperous 5G business future. Recognizing this, LITEON endeavors to cooperate with many best-in-breed strategic partners to develop innovative applications of latest technologies and construct a comprehensive 5G ecosystem, and it cannot be greater to exhibit our achievements in MWC 2024." LITEON is continuing to invest in 5G to provide competitive and flexible solutions. Throughout the process of design, development, and manufacturing, every step strictly aligns with the company's ESG policies; both LITEON Sub-6GHz and mmWave O-RAN Radio Units are test-proven highly energy efficient products. LITEON will keep deepening collaborations with partners and customers to build a global 5G ecosystem, creating value-added solutions in network communications.
YOFC Unveils Cutting-edge Innovations at 2024 MWC Barcelona
BARCELONA, Spain, Feb. 29, 2024 /PRNewswire/ -- Yangtze Optical Fibre and Cable Joint Stock Limited Company (YOFC), a leader in the global optical fibre and cable market, showcased a suite of advanced products and solutions at the 2024 Mobile World Congress Barcelona (MWC Barcelona). Under the theme "Connecting the Future with Fibre", YOFC showcased its advancements across five key areas: Move Toward 5G Advanced, New Hub of Green Computing, New Value of Digital Energy, New Experience of Digital Life, and Bridge the Digital Gap. Move Toward 5G Advanced With the advent of 5G technology, industries worldwide have embarked on a new journey of digital transformation, unlocking a host of new applications and scenarios that demand enhanced network capabilities. The shift has prompted the rise of the 5.5G concept. In this context, optical fibre, by serving as the essential channel for information transmission, forms the backbone of ubiquitous interconnectivity in the 5.5G era. During the exhibition, YOFC showcased its latest optical fibre innovations: FarBand® Ultra G.654.E Fibre: Known for its exceptionally low attenuation, enhancing long-distance communication capabilities. EasyBand Fibre: Features a minimized external diameter, optimizing installation efficiency. GenBand Fibre: A versatile solution catering to a wide array of network demands. OM4/OM4+ Ultra Bending Insensitive Multimode Fibre: Providing high data transmission rates even in challenging environments. Specialty Communication Fibre: Tailored for specific industrial applications, ensuring reliability and performance. Moreover, to address the demands of the burgeoning digital economy and the evolution of artificial intelligence (AI), YOFC has proactively been engaged in the research and development of next-generation optical fibres, aiming to secure a leading position both domestically and internationally. At the exhibition, YOFC's next-generation optical fibre products, with space division multiplexing (SDM) fibres and hollow-core optical fibres serving as prime examples, captured the attention of numerous industry insiders. New Hub of Green Computing At this year's MWC, data centers — the vital engines of the digital age, responsible for storing our world's ever-expanding pool of information — were in the spotlight. During the event, YOFC presented its latest innovation: the iCONEC green data center cabling solution, designed to not only expand the bandwidth and spatial efficiency of data centers but also to significantly extend their operational lifespan, cut down on carbon emissions, and streamline costs in the process. Furthermore, YOFC unveiled a holistic optical module solution for computational networks of AI-powered data centers. Progressing beyond the traditional III-V technology, YOFC introduced its next-generation 400G/800G optical module solution, leveraging silicon photonics technology. The breakthrough promises to slash optical module energy consumption by about 20%, heralding a new chapter in the pursuit of more environmentally friendly data centers. New Value of Digital Energy Digital innovation is reinvigorating the energy sector, transforming everything from electric grids to maritime infrastructure. YOFC has taken center stage in this revolution, introducing a wealth of products and services that promise to redefine digital energy infrastructure. In the electric power arena, Ultra High Voltage (UHV) transmission is the most advanced power transmission technology globally. YOFC provides a comprehensive array of digital power solutions for UHV DC transmission systems, including the G654E fibre, the ADSS (All-Dielectric Self-Supporting) and OPGW (Optical Ground Wire) cables, high-voltage flame-retardant cables, power connectors, and optical device units. Additionally, YOFC provides professional construction guidance services to ensure the security and reliability of UHV systems. Within the maritime sector, YOFC is pioneering developments across the entire marine engineering value chain. Its arsenal includes submarine fibre optic and power cables, alongside a suite of related solutions and EPC (engineering, procurement and construction) services. These offerings cater to a broad spectrum of applications from facilitating offshore wind power transmission and servicing offshore oil platforms, to enabling transoceanic communications and establishing submarine observation networks. YOFC's strategic investments in large-scale offshore wind power equipment underscore its commitment to securing a competitive position in marine engineering. New Experience of Digital Life In an era where seamless digital connectivity is paramount, YOFC is making strides in eliminating the notorious 'last mile' bottleneck in mobile communications. The effort is poised to enrich the digital lives of users by offering comprehensive all-optical connectivity solutions. Focusing on the needs of modern rail transit, YOFC has rolled out specialized solutions that cater to the varied frequency requirements of different wireless communication systems. With its pioneering leaky coaxial cables and accessories, the company is ensuring that passengers on rail platforms and tunnels enjoy dual gigabit internet speeds, a crucial component of today's mobile-first lifestyle. In the domain of optical network cabling, YOFC's next-generation F.ODN pre-connection solution cuts installation time by 80% over traditional methods, empowering customers to rapidly and efficiently deploy premium networks. Additionally, YOFC's roll out of the FTTR (Fibre to The Room) invisible cable wiring solution is quickly being adopted by operators, who see its value in blending reduced installation complexity with minimal aesthetic disruption. Moreover, YOFC's presentation of its leading-edge active optical cables for the smart audio and video industry, incorporating the proprietary BendRobust® bend-resistant fibre, has garnered significant interest. These products stand out for their exceptional flexibility and superior data transmission capabilities, marking a significant step forward in the evolution of smart home and multimedia technologies. Bridge the Digital Gap Since 2014, YOFC has embarked on an ambitious mission to bring optical fibre connectivity to the most remote corners of the planet. With production sites in Indonesia, South Africa, Brazil, and Poland, YOFC has been at the forefront of international efforts to connect underserved communities, from the lush jungles of the Philippines to the sprawling urban mazes of Peru and Indonesia. Whether it's bridging vast oceans, climbing steep mountains, or navigating the complexities of urban slums, YOFC has been there, driven by the belief that everyone deserves a connection.
WISCO, China Unicom and ZTE recognized as "Best Mobile Innovation for Connected Economy" at the GLOMO Awards 2024
ZTE, together with China Unicom, has delivered the world's largest 5G private network in the global steel industry for WISCO, achieving an impressive 99% 5G coverage The project has successfully deployed 25 steel applications across six major scenarios with 5G private network applied in the key production field of WISCO BARCELONA, Spain, Feb. 29, 2024 /PRNewswire/ -- ZTE Corporation (0763.HK / 000063.SZ), a global leading provider of information and communication technology solutions, in partnership with Wuhan Iron and Steel Co.,Ltd. (WISCO) and China Unicom, announced that their joint project "5G Fully Connected Smart Steel Factory" earned the "Best Mobile Innovation for Connected Economy" at the Global Mobile (GLOMO) Awards during MWC Barcelona 2024. The accolade is a recognition of their impressive efforts in changing the way people work in factories and digitizing the workplace. Since 2020, the collaborative efforts between WISCO and its partners have led to the establishment of the "5G Fully Connected Smart Steel Factory" project. This project has now evolved into the largest 5G private network in the global steel industry, achieving an impressive 99% 5G coverage within the factory premises. Leveraging this robust 5G private network infrastructure, the project has deployed 25 steel applications across six major scenarios. These applications span intelligent logistics, production control, digital equipment management, energy and environmental control, quality control, and safety management. To streamline operations, the factory has established a company-level control center along with dedicated operation centers for iron making, steelmaking, CSP, and hot rolling. This integrated approach has paved the way for a seamless, all-in-one-click steelmaking process. The 5G private network has been applied in the key production field of WISCO. More than 100 overhead traveling cranes have completed the unmanned reconstruction. Since the implementation of smart molten iron transportation, the transportation efficiency has continuously improved. Notably, the temperature drop of molten iron is less than 100 degrees during transportation, setting a new record for extreme efficiency, and resulting in an annual reduction of over 750,000 tons of carbon emissions. Li Xiaotong, Vice President at ZTE, stated, "We are honored to receive this award on behalf of the joint project team. This project stands as one of our significant practical achievements in the digital upgrade of the steel metallurgy industry and process manufacturing industry. GSMA's recognition of this project will also become a driving force for our continued progress. ZTE's end-to-end 5G private network solution applied in the industry park of WISCO amidst high-temperature and electromagnetic interference boasts the same network capability as the industrial ethernet with the added advantages of more flexible deployment and more convenient access. Moving forward, ZTE is committed to working with more industry partners to promote the digital transformation and intelligent upgrade of the steel industry." The annual GLOMO Awards represents the industry's most prestigious accolade. With a judge panel comprising over 240 global analysts, media professionals, and industry experts this year, the GLOMO Awards 2024 celebrates individuals and companies that drive innovation and showcase excellence in the rapidly growing mobile industry. For more information, please visit ZTE booth (3F30, Hall 3, Fira Gran Via) at MWC Barcelona 2024, or explore: https://www.zte.com.cn/global/about/exhibition/mwc24.html ABOUT ZTE:ZTE helps to connect the world with continuous innovation for a better future. The company provides innovative technologies and integrated solutions, and its portfolio spans all series of wireless, wireline, devices and professional telecommunications services. Serving over a quarter of the global population, ZTE is dedicated to creating a digital and intelligent ecosystem, and enabling connectivity and trust everywhere. ZTE is listed on both the Hong Kong and Shenzhen Stock Exchanges. www.zte.com.cn/global FOLLOW US:Facebook www.facebook.com/ZTECorpTwitter www.twitter.com/ZTEPressLinkedIn www.linkedin.com/company/zteYouTube www.youtube.com/@ZTECorporation MEDIA INQUIRIES:ZTE CorporationCommunicationsEmail: ZTE.email@example.com
NetEase Announces Fourth Quarter and Fiscal Year 2023 Unaudited Financial Results
HANGZHOU, China, Feb. 29, 2024 /PRNewswire/ -- NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, "NetEase" or the "Company"), a leading internet and game services provider, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2023. Fourth Quarter 2023 Financial Highlights Net revenues were RMB27.1 billion (US$3.8 billion), an increase of 7.0% compared with the fourth quarter of 2022. Games and related value-added services net revenues were RMB20.9 billion (US$2.9 billion), an increase of 9.6% compared with the fourth quarter of 2022. Youdao net revenues were RMB1.5 billion (US$208.5 million), an increase of 1.8% compared with the fourth quarter of 2022. Cloud Music net revenues were RMB2.0 billion (US$279.7 million), a decrease of 16.4% compared with the fourth quarter of 2022. Innovative businesses and others net revenues were RMB2.8 billion (US$387.7 million), an increase of 12.9% compared with the fourth quarter of 2022. Gross profit was RMB16.8 billion (US$2.4 billion), an increase of 27.0% compared with the fourth quarter of 2022. Total operating expenses were RMB10.0 billion (US$1.4 billion), an increase of 13.0% compared with the fourth quarter of 2022. Net income attributable to the Company's shareholders was RMB6.6 billion (US$927.1 million). Non-GAAP net income from continuing operations attributable to the Company's shareholders was RMB7.4 billion (US$1.0 billion). Basic net income per share was US$0.29 (US$1.44 per ADS). Non-GAAP basic net income from continuing operations per share was US$0.32 (US$1.62 per ADS).  As used in this announcement, non-GAAP net income from continuing operations attributable to the Company's shareholders and non-GAAP basic and diluted net income from continuing operations per share and per ADS are defined to exclude share-based compensation expenses. See the unaudited reconciliation of GAAP and non-GAAP results at the end of this announcement. Fourth Quarter 2023 and Early 2024 Operational Highlights Leading franchises, such as Fantasy Westward Journey and Westward Journey Online, maintained enduring user appeal, supported by periodic new content introductions. Eggy Party's broad popularity has engaged over 500 million cumulative registered players since its launch in 2022 and made a significant breakthrough of 40 million daily active users during the Lunar New Year. Justice franchises reached a new milestone of 100 million active users with densely packed content and widely embraced in-game events for players. Racing Master achieved superb performances in Hong Kong, Macau and Taiwan, including topping the local iOS download and grossing charts in Taiwan within the first week of its launch. Cloud Music considerably enhanced its music-centric monetization and further improved profitability, while continuing to cultivate its music community and introduce new premium content and features. Youdao further improved its profitability and achieved record-high operating cash flow, driven by the robust performance of digital content services and online marketing services. "2023 proved to be another landmark year for NetEase Games with continuous cross-category innovations that expand and diversify our robust game portfolio," said Mr. William Ding, Chief Executive Officer and Director of NetEase. "The success of games like Eggy Party and our heralded new titles, such as Racing Master and Dunk City Dynasty, highlights our ability to bring players dynamic and original products in multiple genres. At the same time, we have maintained a strategic advantage with our MMO roots, propelling Justice mobile game to transcend the boundaries of conventional MMO gaming. "Alongside our business's momentum, we have assumed increasing social responsibility. By integrating a 'Minors Mode' across our domestic game lineup, we have strengthened our existing anti-addiction system and continue to steer the gaming ecosystem toward a healthier trajectory with innovative products and technology. "Besides games, our diverse business segments, such as Cloud Music and Youdao, remain on course, consistently delivering premium content. Throughout the NetEase family, we prioritize the creation of novel and high-quality products and services that grow our global appeal and elevate user experiences while pushing innovation forward," Mr. Ding concluded. Fourth Quarter 2023 Financial Results Net Revenues Net revenues for the fourth quarter of 2023 were RMB27.1 billion (US$3.8 billion), compared with RMB27.3 billion and RMB25.4 billion for the preceding quarter and the fourth quarter of 2022, respectively. Net revenues from games and related value-added services were RMB20.9 billion (US$2.9 billion) for the fourth quarter of 2023, compared with RMB21.8 billion and RMB19.1 billion for the preceding quarter and the fourth quarter of 2022, respectively. Net revenues from the operation of online games accounted for approximately 93.4% of the segment's net revenues for the fourth quarter of 2023, compared with 93.7% and 91.8% for the preceding quarter and the fourth quarter of 2022, respectively. Net revenues from mobile games accounted for approximately 76.7% of net revenues from the operation of online games for the fourth quarter of 2023, compared with 77.6% and 66.4% for the preceding quarter and the fourth quarter of 2022, respectively. Net revenues from Youdao were RMB1.5 billion (US$208.5 million) for the fourth quarter of 2023, compared with RMB1.5 billion each for the preceding quarter and the fourth quarter of 2022. Net revenues from Cloud Music were RMB2.0 billion (US$279.7 million) for the fourth quarter of 2023, compared with RMB2.0 billion and RMB2.4 billion for the preceding quarter and the fourth quarter of 2022, respectively. Net revenues from innovative businesses and others were RMB2.8 billion (US$387.7 million) for the fourth quarter of 2023, compared with RMB2.0 billion and RMB2.4 billion for the preceding quarter and the fourth quarter of 2022, respectively. Gross Profit Gross profit for the fourth quarter of 2023 was RMB16.8 billion (US$2.4 billion), compared with RMB17.0 billion and RMB13.2 billion for the preceding quarter and the fourth quarter of 2022, respectively. The slight quarter-over-quarter decrease in games and related value-added services' gross profit was primarily due to decreased net revenues from online games. The year-over-year increase was primarily due to increased net revenues from online games such as Justice mobile game, which was launched in 2023, and Eggy Party, offset in part by the termination of certain licensed games. The quarter-over-quarter decrease in Youdao's gross profit was primarily due to decreased revenue contribution from its learning services. The slight year-over-year decrease was primarily due to reduced revenue contribution from its smart devices, which was partially offset by increased revenue contribution from its online marketing services. The quarter-over-quarter and year-over-year increases in Cloud Music's gross profit primarily resulted from increased net revenues from sales of membership subscriptions and continued improvement in cost control measures. The quarter-over-quarter and year-over-year increases in innovative businesses and others' gross profit were primarily due to increased gross profit contribution from Yanxuan and advertising services. Gross Profit Margin Gross profit margin for games and related value-added services for the fourth quarter of 2023 was 69.5%, compared with 69.0% and 59.1% for the preceding quarter and the fourth quarter of 2022, respectively. The slight quarter-over-quarter increase was primarily attributable to changes in the revenue contribution from different channels. The year-over-year increase was mainly attributable to a higher proportion of net revenues contributed by NetEase's self-developed games. Gross profit margin for Youdao for the fourth quarter of 2023 was 49.9%, compared with 55.9% and 53.3% for the preceding quarter and the fourth quarter of 2022, respectively. The quarter-over-quarter and year-over-year decreases were mainly due to decreased revenue contribution from its learning services and decreased gross profit margin from its smart devices. Gross profit margin for Cloud Music for the fourth quarter of 2023 was 30.3%, compared with 27.2% and 17.8% for the preceding quarter and the fourth quarter of 2022, respectively. The quarter-over-quarter and year-over-year improvements were mainly due to the factors enumerated above. Gross profit margin for innovative businesses and others for the fourth quarter of 2023 was 34.4%, compared with 27.3% and 31.5% for the preceding quarter and the fourth quarter of 2022, respectively. The quarter-over-quarter increase was mainly due to improved gross profit margin from advertising services. The year-over-year increase was mainly due to improved gross profit margin from Yanxuan and advertising services. Operating Expenses Total operating expenses for the fourth quarter of 2023 were RMB10.0 billion (US$1.4 billion), compared with RMB9.4 billion and RMB8.8 billion for the preceding quarter and the fourth quarter of 2022, respectively. The quarter-over-quarter and year-over-year increases were mainly due to increased marketing expenditures and research and development investments associated with games and related value-added services. Other Income/(Expenses) Other income/(expenses) consisted of investment (loss)/income, interest income, exchange (losses)/ gains and others. The quarter-over-quarter decrease was mainly due to a net investment loss resulting from fair value changes of equity investments with readily determinable fair value in the fourth quarter of 2023, compared with a net investment income recorded in the prior quarter, as well as a higher net exchange loss arising from the fluctuation of the exchange rate of the U.S. dollar against the RMB in the fourth quarter of 2023. The year-over-year increase was primarily attributable to higher interest income resulting from the improved net cash position. Income Tax The Company recorded a net income tax charge of RMB1.1 billion (US$150.5 million) for the fourth quarter of 2023, compared with RMB1.3 billion and RMB966.6 million for the preceding quarter and the fourth quarter of 2022, respectively. The effective tax rate for the fourth quarter of 2023 was 13.8%, compared with 14.2% and 20.2% for the preceding quarter and the fourth quarter of 2022, respectively. The effective tax rate represents certain estimates by the Company as to the tax obligations and benefits applicable to it in each quarter. Net Income and Non-GAAP Net Income Net income attributable to the Company's shareholders totaled RMB6.6 billion (US$927.1 million) for the fourth quarter of 2023, compared with RMB7.8 billion and RMB4.0 billion for the preceding quarter and the fourth quarter of 2022, respectively. NetEase reported basic net income of US$0.29 per share (US$1.44 per ADS) for the fourth quarter of 2023, compared with US$0.34 per share (US$1.72 per ADS) and US$0.17 per share (US$0.86 per ADS) for the preceding quarter and the fourth quarter of 2022, respectively. Non-GAAP net income from continuing operations attributable to the Company's shareholders totaled RMB7.4 billion (US$1.0 billion) for the fourth quarter of 2023, compared with RMB8.6 billion and RMB4.8 billion for the preceding quarter and the fourth quarter of 2022, respectively. NetEase reported non-GAAP basic net income from continuing operations of US$0.32 per share (US$1.62 per ADS) for the fourth quarter of 2023, compared with US$0.38 per share (US$1.89 per ADS) and US$0.21 per share (US$1.05 per ADS) for the preceding quarter and the fourth quarter of 2022, respectively. Fiscal Year 2023 Financial Results Net Revenues Net revenues for fiscal year 2023 were RMB103.5 billion (US$14.6 billion), compared with RMB96.5 billion for fiscal year 2022. Net revenues from games and related value-added services were RMB81.6 billion (US$11.5 billion) for fiscal year 2023, compared with RMB74.6 billion for fiscal year 2022. Net revenues from the operation of online games accounted for approximately 92.9% of the segment's total net revenues for fiscal year 2023, compared with 92.5% for fiscal year 2022. Net revenues from mobile games accounted for approximately 75.2% of net revenues from the operation of online games for fiscal year 2023, compared with 67.0% for fiscal year 2022. The higher percentage contribution from mobile games was mainly due to a higher proportion of net revenues generated by mobile games such as Eggy Party and Justice mobile game. Net revenues from Youdao were RMB5.4 billion (US$759.1 million) for fiscal year 2023, compared with RMB5.0 billion for fiscal year 2022. Net revenues from Cloud Music were RMB7.9 billion (US$1.1 billion) for fiscal year 2023, compared with RMB9.0 billion for fiscal year 2022. Net revenues from innovative businesses and others were RMB8.6 billion (US$1.2 billion) for fiscal year 2023, compared with RMB7.9 billion for fiscal year 2022. Gross Profit Gross profit for fiscal year 2023 was RMB63.1 billion (US$8.9 billion), compared with RMB52.8 billion for fiscal year 2022. The year-over-year increase in games and related value-added services gross profit was primarily due to increased net revenues from the operation of online games, mainly from certain newly launched mobile games. The year-over-year increase in Youdao gross profit was mainly due to increased revenue contribution from its online marketing services and learning services. The year-over-year increase in Cloud Music gross profit was primarily attributable to increased net revenues from sales of membership subscriptions and continued improvement in cost control measures. The year-over-year increase in innovative businesses and others gross profit was primarily due to increased gross profits from Yanxuan and several other businesses included within the segment. Operating Expenses Total operating expenses for fiscal year 2023 were RMB35.4 billion (US$5.0 billion), compared with RMB33.1 billion for fiscal year 2022. The year-over-year increase was primarily due to higher research and development investments and marketing expenditures for games and related value-added services. Other Income/(Expenses) The year-over-year increase was mainly due to higher interest income resulting from the Company's increased net cash position, and investment income arising from fair value changes of equity investments with readily determinable fair value. The foregoing was partially offset by the fact that the Company recorded a net exchange loss in fiscal year 2023, compared to a net exchange gain in fiscal year 2022, mainly resulting from the fluctuation of the exchange rate of the U.S. dollar against the RMB during the years. Income Taxes The Company recorded a net income tax charge of RMB4.7 billion (US$661.9 million) for fiscal year 2023, compared with RMB5.0 billion for fiscal year 2022. The effective tax rate was 13.8% for fiscal year 2023, compared with 20.7% for fiscal year 2022. The lower effective tax rate for fiscal year 2023 was partially due to tax benefits recognized in the year. Net Income and Non-GAAP Net Income Net income attributable to the Company's shareholders for fiscal year 2023 totaled RMB29.4 billion (US$4.1 billion), compared with RMB20.3 billion for fiscal year 2022. NetEase reported basic net income of US$1.29 per share (US$6.44 per ADS) for fiscal year 2023, compared with US$0.88 per share (US$4.39 per ADS) for fiscal year 2022. Non-GAAP net income from continuing operations attributable to the Company's shareholders for fiscal year 2023 totaled RMB32.6 billion (US$4.6 billion), compared with RMB22.8 billion for fiscal year 2022. NetEase reported non-GAAP basic net income from continuing operations of US$1.43 per share (US$7.14 per ADS) for fiscal year 2023, compared with US$0.98 per share (US$4.92 per ADS) for fiscal year 2022. Other Financial Information As of December 31, 2023, the Company's net cash (total cash and cash equivalents, current and non-current time deposits and restricted cash, as well as short-term investments balance, minus short-term and long-term loans) totaled RMB110.9 billion (US$15.6 billion), compared with RMB95.6 billion as of December 31, 2022. Net cash provided by operating activities was RMB35.3 billion (US$5.0 billion) for fiscal year 2023, compared with RMB27.7 billion for fiscal year 2022. Quarterly Dividend The board of directors has approved a dividend of US$0.21597 per share (US$1.07985 per ADS) for the fourth quarter of 2023 to holders of ordinary shares and holders of ADSs as of the close of business on March 14, 2024, Beijing/Hong Kong Time and New York Time, respectively, payable in U.S. dollars. For holders of ordinary shares, in order to qualify for the dividend, all valid documents for the transfer of shares accompanied by the relevant share certificates must be lodged for registration with the Company's Hong Kong branch share registrar, Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong no later than 4:30 p.m. on March 14, 2024 (Beijing/ Hong Kong Time). The payment date is expected to be March 25, 2024 for holders of ordinary shares, and on or around March 28, 2024 for holders of ADSs. NetEase paid a dividend of US$0.0990 per share (US$0.4950 per ADS) for the third quarter of 2023 in December 2023. Under the Company's current dividend policy, the determination to make dividend distributions and the amount of such distribution in any particular quarter will be made at the discretion of its board of directors and will be based upon the Company's operations and earnings, cash flow, financial condition and other relevant factors. Share Repurchase Program On November 17, 2022, the Company announced that its board of directors had approved a share repurchase program of up to US$5.0 billion of the Company's ADSs and ordinary shares in open market transactions. This share repurchase program commenced on January 10, 2023 and will be in effect for a period not to exceed 36 months from such date. As of December 31, 2023, approximately 7.2 million ADSs had been repurchased under this program for a total cost of US$644.1 million. The extent to which NetEase repurchases its ADSs and its ordinary shares depends upon a variety of factors, including market conditions. These programs may be suspended or discontinued at any time. ** The United States dollar (US$) amounts disclosed in this announcement are presented solely for the convenience of the reader. The percentages stated are calculated based on RMB. Conference Call NetEase's management team will host a teleconference call with a simultaneous webcast at 7:00 a.m. New York Time on Thursday, February 29, 2024 (Beijing/ Hong Kong Time: 8:00 p.m., Thursday, February 29, 2024). NetEase's management will be on the call to discuss the quarterly results and answer questions. Interested parties may participate in the conference call by dialing 1-914-202-3258 and providing conference ID: 10036635, 15 minutes prior to the initiation of the call. A replay of the call will be available by dialing 1-855-883-1031 and entering PIN: 10036635. The replay will be available through March 6, 2024. This call will be webcast live and the replay will be available for 12 months. Both will be available on NetEase's Investor Relations website at http://ir.netease.com/. About NetEase, Inc. NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, "NetEase") is a leading internet and game services provider centered around premium content. With extensive offerings across its expanding gaming ecosystem, the Company develops and operates some of the most popular and longest running mobile and PC games available in China and globally. Powered by one of the largest in-house game R&D teams focused on mobile, PC and console, NetEase creates superior gaming experiences, inspires players, and passionately delivers value for its thriving community worldwide. By infusing play with culture, and education with technology, NetEase transforms gaming into a meaningful vehicle to build a more entertaining and enlightened world. Beyond games, NetEase service offerings include its majority-controlled subsidiaries Youdao (NYSE: DAO), an intelligent learning company with industry-leading technology, and Cloud Music (HKEX: 9899), a well-known online music platform featuring a vibrant content community, as well as Yanxuan, NetEase's private label consumer lifestyle brand. NetEase's market-leading ESG initiatives are among the most recognized in the global media and entertainment industry, earning it inclusion in the 2022 Dow Jones Sustainability World Index, 2022 Dow Jones Sustainability Emerging Markets Index and 2023 Bloomberg Gender-Equality Index, as well as receiving an "A" rating from MSCI. For more information, please visit: http://ir.netease.com/. Forward Looking Statements This announcement contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar expressions. In addition, statements that are not historical facts, including statements about NetEase's strategies and business plans, its expectations regarding the growth of its business and its revenue and the quotations from management in this announcement are or contain forward-looking statements. NetEase may also make forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in announcements made on the website of The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange"), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks related to: the risk that the online games market will not continue to grow or that NetEase will not be able to maintain its position in that market in China or globally; risks associated with NetEase's business and operating strategies and its ability to implement such strategies; NetEase's ability to develop and manage its operations and business; competition for, among other things, capital, technology and skilled personnel; potential changes in government regulation that could adversely affect the industry and geographical markets in which NetEase operates; the risk that NetEase may not be able to continuously develop new and creative online services or that NetEase will not be able to set, or follow in a timely manner, trends in the market; risks related to economic uncertainty and capital market disruption; risks related to the expansion of NetEase's businesses and operations internationally; risks associated with cybersecurity threats or incidents; and the risk that fluctuations in the value of the Renminbi with respect to other currencies could adversely affect NetEase's business and financial results. Further information regarding these and other risks is included in NetEase's filings with the SEC and announcements on the website of the Hong Kong Stock Exchange. NetEase does not undertake any obligation to update this forward-looking information, except as required under applicable law. Non-GAAP Financial Measures NetEase considers and uses non-GAAP financial measures, such as non-GAAP net income from continuing operations attributable to the Company's shareholders and non-GAAP basic and diluted net income from continuing operations per ADS and per share, as supplemental metrics in reviewing and assessing its operating performance and formulating its business plan. The presentation of 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 accounting principles generally accepted in the United States of America ("U.S. GAAP"). NetEase defines non-GAAP net income from continuing operations attributable to the Company's shareholders as net income from continuing operations attributable to the Company's shareholders excluding share-based compensation expenses. Non-GAAP net income from continuing operations attributable to the Company's shareholders enables NetEase's management to assess its operating results without considering the impact of share-based compensation expenses. NetEase believes that this non-GAAP financial measure provide useful information to investors in understanding and evaluating the Company's current operating performance and prospects in the same manner as management does, if they so choose. NetEase also believes that the use of this non-GAAP financial measure facilitates investors' assessment of its operating performance. Non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. Non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using non-GAAP net income from continuing operations attributable to the Company's shareholders is that it does not reflect all items of expense/ income that affect our operations. Share-based compensation expenses have been and may continue to be incurred in NetEase's business and are not reflected in the presentation of non-GAAP net income from continuing operations attributable to the Company's shareholders. In addition, the non-GAAP financial measures NetEase uses may differ from the non-GAAP measures used by other companies, including peer companies, and therefore their comparability may be limited. NetEase compensates for these limitations by reconciling non-GAAP net income from continuing operations attributable to the Company's shareholders to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company's performance. See the unaudited reconciliation of GAAP and non-GAAP results at the end of this announcement. NetEase encourages you to review its financial information in its entirety and not rely on a single financial measure. Contact for Media and Investors:Email: firstname.lastname@example.orgTel: (+86) 571-8985-3378 NETEASE, INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) December 31, December 31, December 31, 2022 2023 2023 RMB RMB USD (Note 1) Assets Current assets: Cash and cash equivalents 24,889,000 21,428,902 3,018,198 Time deposits 84,947,679 100,856,034 14,205,275 Restricted cash 2,699,055 2,777,206 391,161 Accounts receivable, net 5,002,872 6,422,417 904,579 Inventories 993,636 695,374 97,941 Prepayments and other current assets, net 5,448,284 6,076,595 855,871 Short-term investments 7,622,673 4,436,057 624,806 Total current assets 131,603,199 142,692,585 20,097,831 Non-current assets: Property, equipment and software, net 6,342,330 8,075,044 1,137,346 Land use rights, net 4,121,767 4,075,143 573,972 Deferred tax assets 1,480,789 1,560,088 219,734 Time deposits 2,973,840 1,050,000 147,889 Restricted cash 270 550 77 Other long-term assets 26,238,790 28,471,568 4,010,136 Total non-current assets 41,157,786 43,232,393 6,089,154 Total assets 172,760,985 185,924,978 26,186,985 Liabilities, Redeemable Noncontrolling Interests and Shareholders' Equity Current liabilities: Accounts payable 1,507,141 881,016 124,089 Salary and welfare payables 4,732,941 4,857,206 684,123 Taxes payable 2,813,096 2,571,534 362,193 Short-term loans 23,875,704 19,240,163 2,709,920 Contract liabilities 12,518,890 13,362,166 1,882,022 Accrued liabilities and other payables 11,381,075 12,930,399 1,821,209 Total current liabilities 56,828,847 53,842,484 7,583,556 Non-current liabilities: Deferred tax liabilities 2,126,120 2,299,303 323,850 Long-term loans 3,654,964 427,997 60,282 Other long-term liabilities 1,277,574 1,271,113 179,032 Total non-current liabilities 7,058,658 3,998,413 563,164 Total liabilities 63,887,505 57,840,897
CloudRAN.AI Launches at MWC 2024, Revolutionizing Private 5G for Industrial Transformation
BARCELONA, Spain, Feb. 29, 2024 /PRNewswire/ -- CloudRAN.AI, a trailblazing Singapore-based company, made its official debut at the Mobile World Congress (MWC) 2024 in Barcelona. The firm specializes in providing pure software-driven Private 5G network solutions, tailored for vertical industries seeking to harness the power of edge cloud computing and AI to fuel their digital transformation. With a vision to seamlessly integrate production processes with advanced technologies, CloudRAN.AI aims to empower businesses to achieve industrial digitalization with ease and efficiency. The company's CloudNative P5G solution stands out for its exceptional adaptability across various ecosystems, eliminating the need for additional hardware acceleration and simplifying the deployment of Private 5G networks within existing IT infrastructures. CloudRAN.AI's cutting-edge interference management technology and artificial intelligence algorithms not only enhance the efficiency of network deployment but also deliver comprehensive coverage without the complexity of traditional radio frequency planning. The company's OpenAPI strategy further opens up a world of possibilities by providing open interfaces for uppper application, fostering innovation and integration. The Private 5G solutions offered by CloudRAN.AI are designed for stability, user-friendliness, and cross-platform compatibility, ensuring that clients maintain a competitive edge in the market. As CloudRAN.AI embarks on this journey, the company looks forward to collaborating with clients to explore the vast potential of Industry 4.0 and achieve mutual growth. For more information, visit http://www.cloudranai.com. About CloudRAN.AI CloudRAN.AI is a leading provider of AI-driven Private 5G solutions, committed to enabling vertical industries to connect, compute, and innovate at the edge. With a focus on software-defined networking, CloudRAN.AI is shaping the future of industrial connectivity and cloud computing.