FURUNO to Launch Single-band GNSS Receivers That Achieve 4.5ns Stability
Picosun's High Aspect Ratio ALD Enables 3D Thin-film Batteries
VeriBlock Launches Mainnet, Achieving Milestone in Decentralized Blockchain Security
Malaysia's Startup, Delyva, to Forge More Profitable SMEs through Shipping
DragonVein Project exhibits the next generation 5G blockchain product at MWC2019
Platform9 and Intersect Partner to Bring SaaS-powered Unified Cloud to Australia and New Zealand
Hdac Technology Develops New Protocol, Strengthens Enterprise Solution, and “EXPANDS” into FinTech Business
Huntkey Releases 4 More LED Desk Lamps
Synopsys' Fusion Compiler Enables Renesas to Accelerate Delivery of Next-Generation Automotive Designs
Phoenix New Media Announces Definitive Agreement to Sell Investment in Yidian
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Vivo Announces to Empower Gamers' Conquest at PUBG MOBILE Club Open 2019 by Tencent Games and PUBG Corporation
Being the official smartphone partner, Vivo showcases its commitment to connect with gamers around the world SHENZHEN, China, March 23, 2019 /PRNewswire/ -- Today, Vivo announced the partnership with the world's leading mobile game- PlayerUnknown's Battlegrounds Mobile (PUBG MOBILE) by Tencent Games and PUBG Corporation as the title sponsor of the upcoming PUBG MOBILE Club Open 2019, one of the biggest mobile gaming tournament in the world. Vivo will provide the official smartphones for the PUBG MOBILE Club Open 2019, which players from ten regions across the globe will be leveraging to battle their way through the Spring & Fall Split, for the total prize pool of $2.5M USD. This global partnership reinforces Vivo's commitment to bringing an ultra-smooth gaming experience to connect with consumers through meaningful partnerships. PUBG MOBILE Club Open 2019 Vivo thrives to be at the forefront of the eSports industry to best serve its consumers. The partnership with PUBG MOBILE is a key milestone especially given that it is a leading mobile game developed by Tencent Games and PUBG Corporation that has over 200 million fans per download excluding China, Korea, and Japan. As one of the biggest mobile gaming tournaments in the world, PUBG MOBILE Club Open 2019 is a strong opportunity to showcase Vivo's vision of 'enjoying the extraordinary' by bringing global players a true gaming experience like no other. This global partnership will unfold and strengthen Vivo's position in being an innovative and stylish brand that always puts our consumer experience first. The PUBG MOBILE STAR CHALLENGE 2018 was watched by over 230 million viewers and drew in over 5,000 live attendees at the global finals in Dubai. The qualifying round of PUBG MOBILE Club Open 2019 will begin on March 22, 2019. The Spring Split Global Finals will be hosted in July this year, with the Fall Split Global Finals following in December. "We are excited to partner with Vivo, as they have a strong reputation in being innovative and putting the consumer's needs first. As an innovative brand ourselves, this partnership highlights our dedication to bring the best experience possible to our players and fans around the world. This partnership is just the beginning, we want to continue building a strong portfolio of partnerships with industry-leading companies, such as Vivo, to provide the best mobile gaming experience possible," said Vincent Wang, General Manager of Global Publishing Department, Tencent Games. About Vivo Vivo is a leading global technology company committed to creating trendsetting smart mobile products and services. Vivo is devoted to forming a vibrant mobile internet ecosystem, and currently owns and operates an extensive network of research operations, with R&D centers in the US (San Diego) and China (Dongguan, Shenzhen, Nanjing, Beijing and Hangzhou). These centers focus on the development of cutting-edge consumer technologies including 5G, AI, mobile photography and next-generation smartphone design. Vivo has over two hundred million users enjoying its mobile products and services around the world. Vivo is present in 18 markets globally and features offline retail stores in over 1,000 cities worldwide. About PUBG MOBILE PUBG MOBILE is developed by Tencent Games and PUBG Corporation and based on PLAYERUNKNOWN'S BATTLEGROUNDS, the original PC and Xbox One gaming phenomenon that took the world of interactive entertainment by storm in 2017. Up to 100 players parachute onto a remote island to do battle in a winner-takes-all showdown. Players must locate and scavenge their own weapons, vehicles and supplies, and defeat every player in a visually and tactically rich battleground that forces players into a shrinking play zone. PUBG MOBILE is available to download for free on the App Store and Google Play. For more information, please visit the official PUBG MOBILE accounts on Facebook, Twitter and YouTube. Photo - https://mma.prnewswire.com/media/824375/Vivo_logo.jpg Photo - https://photos.prnasia.com/prnh/20190322/2411500-1
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AGTech Announces 2018 Annual Results
HONG KONG, March 22, 2019 /PRNewswire/ -- AGTech Holdings Limited ("AGTech" or the "Company", HKEX stock code:08279) today announced its annual results for the year ended December 31, 2018. John Sun, Chairman and Chief Executive Officer of AGTech said, "2018 has been a challenging yet rewarding year for AGTech as we continue to realize the potential of being a part of the Alibaba family, we advanced our business on many strategic fronts. Over the past year, we continued to promote synergy by integrating our resources, identifying ways to leverage and complement Alibaba Group's vast network and new retail initiative, putting in place the necessary business and commercial arrangements. Strategic initiatives such as lottery distribution within Alibaba's retail channels, optimizing the lottery channels on mobile Taobao & Alipay, launch of our sports interactive casual product during the 2018 World Cup are all synergies we have managed to create within the Alibaba ecosystem. As the exclusive lottery platform of Alibaba Group and Ant Financial Group, we will continue to strengthen cooperation with other Alibaba Group's networks, provide more innovated initiatives across different products, channels, technology and marketing campaigns to help expand the access and popularity of lottery, and thereby contributing to the healthy development of the lottery industry of PRC." "As a leading lottery manufacturer and supplier in China, our hardware division continues to support and work with China lottery authorities, with lottery terminals deployed in major provinces across China. Our technical research and development team will continue to bring innovative products to the market in enhancing experience for both lottery retail owners and customers. " "Gamepind, the mobile gaming platform launched by our overseas joint venture with PayTm Group, continues to be a strategic growth area for our company. Gamepind will continue to build on its growing user base, paving way to further commercial and monetization opportunities in capturing the growing market in India. Looking forward, we will continue to seek strong suitable local partners in selected international markets to further leverage our platforms of games and entertainment offerings to serve more customers globally in the future." "On the international front, AGTech participated in the 2018 World Lottery Summit held in Buenos Aires, Argentina as one of four Gold Contributors of the World Lottery Association (WLA). The WLA is committed to advancing the interests of state-authorized lotteries globally, adhering to the strictest standards of social responsibility, responsible gaming, security and risk management. We believe that this will affirm our contribution to the positive growth and development of lottery in China and around the world." "Importantly, we continued to invest in our future, laying the necessary foundation for our team, systems, technology and infrastructure to be well positioned towards our initiative to become a data technology company. As the exclusive lottery platform of Alibaba Group and Ant Financial Group, our ability to capture the opportunities as it relates to the potential resumption of online lottery distribution will be better than ever. Our games and entertainment teams will continue to develop additional interactive social and sports-related offerings. AGTech's initiative as a data enabler through big data applications, which we expect to be witnessed in our upcoming co-operation with the Guangdong Sports Lottery Center on the construction of a comprehensive lottery network service platform, is the foundation that is required towards empowering digitization to our industry. We believe that our commitment to innovation, coupled with our perseverance and focus on the long term, will significantly reward our shareholders and their patience in the future. " 2018 Key Financial Highlights Revenue of the Group for 2018 amounted to approximately HK$168.6 million representing a decrease of approximately 44.2% over 2017. Revenue contributions were mainly derived from lottery hardware, lottery games and systems, provision of distribution and ancillary services, games and entertainment business in the PRC. The decrease in revenue for the year was caused by a decrease of approximately HK$86 million in revenue from the games and entertainment division and a decrease in sales of lottery hardware of approximately HK$60.3 million, partially offset by an increase of approximately HK$6.7 million in revenue from the lottery games and systems and an increase of approximately HK$5.9 million in revenue from the provision of distribution and ancillary services. The profit for 2018 was approximately HK$317 million (2017: loss of approximately HK$370 million). The change from loss to profit for the year was mainly attributable to several non-cash and non-operating items relating to the fair value changes of convertible bonds and contingent consideration payables under the Score Value Transaction. In 2018, other operating expenses were approximately HK$114 million (2017: approximately HK$210 million), the decrease was primarily due to the decrease in expenses incurred in connection with the games and entertainment business. -END- About AGTech Holdings Limited AGTech was incorporated in Bermuda and its shares are listed on the GEM (Stock Code: 08279). AGTech is an integrated technology and services company engaged in the lottery and mobile games and entertainment market with a focus on China and selected international markets. A member of the Alibaba Group with around 400 employees, AGTech is the exclusive lottery platform of Alibaba Group and Ant Financial Group. AGTech's businesses are broadly divided into two categories: Lottery (including hardware, games and systems, provision of distribution and ancillary services); and Games and Entertainment. AGTech is a Gold Contributor of the World Lottery Association (WLA), an associate member of the Asia Pacific Lottery Association (APLA), and an official partner of the International Mind Sports Association (IMSA). For more information, please visit www.agtech.com
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Huntkey Will Release Its Portable 90W Type-C charger to Global Markets in the Middle of 2019
SHENZHEN, China, March 22, 2019 /PRNewswire/ -- Huntkey, a leading global power solution provider, is developing its portable 90W Type-C for overseas markets. https://en.huntkey.com/wp-content/uploads/2019/03/90w-type-c-charger.png The Type-C port is becoming more and more popular in people's daily life, It can be found in cellphones, notebooks, tablets, and other smart devices. Many brands of Type-C chargers have already been released to markets, but a 90W Type-C charger is still difficult to find globally. To meet the demand for fast charging speeds and high charging efficiency, Huntkey has started to develop its own 90W Type-C charger since the beginning of 2019. The final product will be released around July. Besides the high charging efficiency and good quality, the portable design is another unique selling proposition. The 72*72*32mm size will make it convenient to carry even with a small handbag. Model: HKA09020045-2VType: Wall MountInput: 100-240V, 50/60Hz, 2.0AOutput: 5V/3A, 9V/3A, 15V/3A, 20V/4.5AFast Charging: QC3.0+ & PD3.0 TechnologiesEasy Connecting: USB Type-C Port & CableEfficiency Level: VIDimensions(mm): 72*72*30Warranty: 2 Years As a professional provider of power solutions, and a representative factory for many famous international brands in the world, Huntkey can provide professional custom-built services to its partners. About Huntkey Huntkey Group, founded in 1995 and headquartered in Shenzhen, is a member of The International Power Supply Manufacturer's Association (PSMA) and a member of The China Power Supply Society (CPSS). With branch companies in the USA, Japan and other areas, and cooperating factories in Brazil, Argentina, India and other countries, Huntkey has specialized in the independent design, research, development and manufacturing of IT products such as switching power supplies, computer chassis, monitors and adapters, consumer products such as chargers for mobile phones and other electronic products, smart home products such as smart power strips, smart home appliances and smart LED lights, charging piles, and power for new energy vehicles (charging generator, DC/DC, etc.) for many years. With its own technologies and manufacturing strength, Huntkey has been serving the top 3 brand customers in several industries such as information technology, personal computer, mobile phone, retailing and so on. Huntkey has received unanimous recognition and trust from most of the customers. For more information about Huntkey, please visit https://en.huntkey.com Contact Ferris LiaoTel: +86-755-89606658E-mail:huntkey@huntkeydiy.com View original content:http://www.prnewswire.com/news-releases/huntkey-will-release-its-portable-90w-type-c-charger-to-global-markets-in-the-middle-of-2019-300816893.htmlRelated Links :http://en.huntkey.com
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Frost & Sullivan Identifies 3 Innovative Tactics that Encourage Accessible Water for All
Modular water systems and strategic financial plans hold the key to leaving no one behindSANTA CLARA, Calif., March 22, 2019 /PRNewswire/ -- The basic human right of accessing safe and sanitary water is the key to sustainable development. It determines livability, growth of industries, and human well-being, all of which are vital for the vibrant growth of society. Unfortunately, many marginalized groups, such as women, children, refugees, indigenous peoples and many others face various grounds for discrimination that result in challenges when it comes to retrieving safe or potable water. For World Water Day 2019, Frost & Sullivan sheds light on areas of innovation that have the potential to improve conventional systems and aid in efforts to leave no one behind on the worldwide journey to obtain water for everyone. If you are interested in more or would like to speak to our experts, please email me (jaylon.brinkley@frost.com). According to World Bank, with roughly 663 million people lacking access to drinking water and 2.4 billion people worldwide still lacking access to sanitation, water security is still considered to be one of the biggest global risks. In addition, this year's World Water Day campaign notes that while many marginalized peoples are in need of accessible and reliable water resources, they commonly face additional interrelated challenges, such as population growth, climate change, and conflict, that compound this problem; a multifaceted solution is required for a truly sustainable future of water access and security. "Potable water resources are easily disrupted or contaminated as a result of changing environmental conditions and human interference. The traditional model in delivery of drinking water and wastewater services is centralized, leaving little redundancy in place should one component in service delivery be shut down or impaired," said Seth Cutler, Principal Consultant at Frost & Sullivan. "Because of this, locations that are prone to disruption or without water services should think about new models for delivery that increase resilience." To combat these disadvantages, Frost & Sullivan has outlined techniques and technologies that can play a significant role in making sure those in need of safe water around the globe have the necessary tools for access: Decentralized water supply: Unlike centralized water systems, decentralized water and wastewater systems provide a sustainable and localized option for water supply that comes with a small footprint and quick installation allowing for a plug and play model needed in many rural areas and places facing environmental degradation. With major shifts in regulatory policies already underway, adoption of decentralized systems is expected to rise in developing countries. Residential drinking water treatment systems: Growing urbanization and increasing concern of drinking water quality and associated health issues from questionable water supply has boosted the adoption of residential water treatment systems. Technological advances that can focus on niche purification requirements, such as differing needs in developed and developing countries, and the ease in installation, coupled with its compact size and relatively cheaper price, are key decision-making factors when identifying the right system. New financing models: Investment vehicles, such as public-private partnerships (PPP), have the ability to connect investors, especially local financing, to develop water services in underserved areas while offering greater confidence in stable returns moving forward. The water sector can be averse to private ownership, but PPP offers a greater level of public ownership and accountability that can help bridge these concerns. "It is often difficult to change the conventional way of thinking and action. However, in many instances, it is this mindset that has failed marginalized groups when it comes to equitable access to safe and reliable water services. To ensure an inclusive future for water, new delivery and management methods need to be adopted to provide a greater level of resiliency," stated Cutler. "These efforts combine highly localized quick-fixes, such as residential treatment solutions, to high-redundancy systems through decentralization, and new methods of generating capital investment and accountability through PPP efforts. While a great deal of effort is needed to reach 100% coverage in water services, the solutions are very much within society's toolbox." About Frost & SullivanFrost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion Contact:Jaylon BrinkleyFrost & Sullivan+1 (210) 247 2481jaylon.brinkley@frost.com Related Links :http://www.frost.com
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Innergie 2019 New Products Launch
The Best USB-C Power Solutions for Laptops & MobilityTAIPEI, Taiwan, March 22, 2019 /PRNewswire/ -- Innergie, a brand of Delta, the leading provider of consumer power products and solutions announced today the launch of their new products including 65U, 65W, 18W and 27M among others. Innergie expects to provide consumers with a full range of USB-C charging solutions with high efficiency and better performance, such as laptop adaptor, smartphone charger, more mobile device charger to meet the needs of users in different charging scenarios. "We designed these charging products not only to protect the devices safety but also to be more energy efficient at the same time," said Innergie Business Director PS Tang. With the promise of the best quality controls in design, R&D, top-notch materials guaranteed and the insert/dropping test, users can save electricity and maximize efficiency while charging at the office, home or on the go and made their digital experience better. For Laptop Adaptor - Innergie 65U Laptop Adapter (International) This ultra-small laptop adapter with surprisingly powerful performance for most laptop adapters, displays Innergie's extraordinary abilities of design and performance. Unlike normal products, Innergie's exclusive 3D circuitry design make the smallest adapter on the market and with the dimensions of just 3x3x6 cm³, just 1/3 the size of most other adapters, it's the smallest in its class. The Innergie 65U laptop adapter including 6 tips can work with the majority of laptop brands such as ASUS, Acer, Dell, HP and Lenovo along with others. Designed in compact size with only 3x3x6 cm³ to fit any available socket space, it never takes up more room than a charger reasonably requires. Charge with 3 travel plugs anywhere around the world and pack light and easy to carry along. Innergie 65U Laptop Adapter-this ultra-small laptop adapter with surprisingly powerful performance for most laptop adapters. - Innergie 65W USB-C Adapter USB PD with the built-in USB-C charging cable: there are 5 different voltages (5V, 9V, 12V, 15V & 20V) to support smartphone, tablet or laptop charging; you always have the right cable for your USB-C devices. The ultra-small USB-C adapter with surprisingly powerful performance for most USB-C devices including laptops, gaming devices and even the MacBook Pro (13-inch model) etc. High quality control: instead of the usual ABS plastic, Innergie's products do not deform during anti-shock, fire-resistant, and durable PC material testing. Superb Durability: strict swing tests guarantee this cable is more durable, more flexible, and able to bend at any angle, giving you a more reliable USB-C cable than the original one. Innergie 65W USB-C Adapter- USB PD with the built-in USB-C charging cable to giving powerful performance - Innergie 18W USB-C Charging Connector The Innergie 18W works with Innergie universal laptop adapters to give you a convenient way to extended capabilities of an extra USB-C charging port. USB PD charging: Full support for USB PD mobile devices in 5V and 9V outputs, even for the latest iPhone series fast-charging. 2-in-1 charging: laptop and mobile phone can charge at the same time, using the Innergie laptop charger to 90W, and charging USB-C mobile device to 18W. The smartest and most powerful: when the tip is not connected, USB-C supports your devices charging up to 60 watts/smart adjustment charging (20V/3A). Innergie 18W USB-C Charging Connector-works with its universal laptop adapters to give you a convenient way to extended capabilities of an extra USB-C charging port For mobile - Innergie 27M USB-C Wall Charger A compact dual USB-C & USB port wall charger could charge multiple devices at the same time. With the built-in smart chip, the Innergie 27M can automatically detect any mobile devices to deliver optimal power for ultimate speed charging. Compact design size, only 5x5x3 cm³, allows it to fit in anywhere. Innergie 27M USB-C Wall Charger - a compact dual USB-C & USB port wall charger could charge multiple devices at the same time Where to buy Please discover the safest mobile chargers at http://bit.ly/2Wb94U9 and find more new product in Amazon https://reurl.cc/r97qE . Specifications 65U 65W 18W 27M Input AC input 100-240V AC / 1.6A 50-60Hz AC input 110-240V AC / 1.5A 50-60Hz DC input 19.5V DC / 4.63A Max. AC input 100-240V / 1.2A 50-60 Hz Output DC output 19.5V DC / 3.33A USB output5V/3A,9V/3A, 12V/3A,15V/3A, 20V/3.25A USB output5V DC / 3A9V DC / 2A20V DC / 3A Max* USB output USB-A: 5V DC / 2.4A USB-C: 5V DC / 3A Output power 65W 65W 18 – 60W 27W Dimensions (LxWxH) 30.4 x 30.4 x 60 mm 66.4 x 66.4 x 28.4 mm 50 × 24.4 × 11 mm 55 × 47.8 × 28.2 mm Weight 85g 215g 15.9g 81g Protection InnerShield™ InnerShield™ InnerShield™ InnerShield™ About Innergie Innergie, a brand of Delta, is a leading provider of consumer power products and power solutions. Launched in 2008, Innergie builds on the innovation of Delta Group, a world leader in power management with over 40 years of advanced technical experience. As an energy-saving solutions provider, Delta's businesses encompass power electronics, energy management, and smart green life. Innergie belongs to the business group of Smart Green Life in Delta. With expertise in compact power technology, Innergie designs and produces solutions for the home, workplace, and a mobile lifestyle. For more information, please visit our website at www.myinnergie.com About Delta Delta, founded in 1971, is a global provider of switching power supplies and thermal management products with a thriving portfolio of smart energy-saving systems and solutions in the fields of industrial automation, building automation, telecom power, data center infrastructure, EV charging, renewable energy, energy storage and display, to nurture the development of smart manufacturing and sustainable cities. As a world-class corporate citizen guided by its mission statement, "To provide innovative, clean and energy-efficient solutions for a better tomorrow," Delta leverages its core competence in high-efficiency power electronics and its CSR-embedded business model to address key environmental issues, such as climate change. Delta serves customers through its sales offices, R&D centers and manufacturing facilities spread over close to 200 locations across 5 continents. Throughout its history, Delta has received various global awards and recognition for its business achievements, innovative technologies and dedication to CSR. Since 2011, Delta has been listed on the DJSI World Index of Dow Jones Sustainability™ Indices for 8 consecutive years. In 2017, Delta was selected by CDP (formerly the Carbon Disclosure Project) for its Climate Change Leadership Level for the 2nd consecutive year. For detailed information about Delta, please visit: www.deltaww.com View original content to download multimedia:http://www.prnewswire.com/news-releases/innergie-2019-new-products-launch-300816913.html
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WeChat Pay Supports Merchants Expanding Businesses by Bringing its Ecosystem to the World
HONG KONG, March 22, 2019 /PRNewswire/ -- WeChat Pay today unveils its latest strategy for cross-border payment business at the WeChat Pay Overseas Partner Conference 2019. Themed on 'One for Billion', the conference encourages service providers and merchants across the world to expand their businesses by reaching out and engaging the Chinese travelers through WeChat ecosystem. Close to 1,600 guests including representatives from global merchants and outstanding service providers from China and overseas, gathered in Hong Kong to explore the new opportunities with WeChat Pay's smart ecosystem. WeChat Pay smart life scenarios experience at the conference. "In the past five years, the progress of mobile payment technology development in China has received global attention, and the digitization of all walks of life has continued at a rapid pace. The real driving force behind this is not just a payment tool, but also the supports of third-party service providers from the various industries. They are the true representatives of digital innovation in China," said Li Peiku, Vice-President of WeChat Pay. The wide variety of functions available within the WeChat Ecosystem will help overseas merchants to smoothly accelerate the digitalization process, in order to better serve Chinese tourists overseas. According to the latest data released at the conference, in 2018, the monthly average transaction volume saw an increase of 500% year-on-year, while the total transaction value increased 400%. Meanwhile, the number of service providers witnessed a year-on-year increase 300%, and the number of merchants accepting WeChat Pay increased 700%. WeChat Pay is now available in 49 markets outside of the Chinese mainland, supporting cross-border payment transactions in 16 currencies. WeChat Pay Unveils Five Key Areas of its Cross-Border Business Making a purchase is not only about payment. The entire experience throughout the consumer journey is important to conclude the transaction. WeChat Pay is looking closely into the overall customer experience, and exploring more smart living solutions to cover retail, F&B, and fashion, municipal services and many other aspects of daily life. At the conference, WeChat Pay unveils five key areas of its cross-border business: To expand its cross-border payment into more markets and to support more currencies. To promote smart checkout solutions and improve the shopping experience for consumers. To promote self-service F&B ordering solutions to ease the communication that involves different and multiple languages. To promote the usage of AI-based solutions in the fashion and beauty industries that enable virtual fitting and makeup testing. To explore more solutions in areas, such as overseas consular services, medical care, education and other social services. WeChat Pay has successfully developed many case studies in offering smart living solutions. For example, at Heytea Hong Kong, users can order through WeChat's Mini Programs to avoid queue and collect their orders in store when it is ready. In Japan, Fuji-Q Highland guests can purchase tickets and check queuing time via WeChat's Mini Programs to better plan their visit for different rides and activities, ensuring a smoother visitor's experience. WeChat Pay is also expanding its scope in other tourism and travel-related solutions. Today, close to 20 Chinese embassies and foreign consulates around the world are offering WeChat Pay services, which means that Chinese citizens can now make payments using WeChat Pay at these embassies and consulates in emergency, for instance replacement requests of their travel documents. WeChat - Connect people to businesses Across Multiple Scenarios With outbound travel becoming easier and an increase in personal income levels, the Chinese outbound travel market continues to expand. In 2018, more than 149 million Chinese tourists travelled abroad with a 14.7% increase on the same period for the previous year[1]. Meanwhile, the consumption of outbound Chinese tourists exceeded US$120 billion, and per capita overseas consumption exceeded RMB 13,000[2]. WeChat Pay not only assists the domestic service providers in mainland China to expand overseas, but also continues to optimize its overall training system to help overseas service providers and merchants to achieve a two-way communication with the Chinese travelers for better customer experience. [1] "2018 Tourism Market Overview", Ministry of Culture and Tourism of the People's Republic of China [2] "2018 Chinese Tourist Outbound Travel Report", China Tourism Academy and Ctrip Photo - https://photos.prnasia.com/prnh/20190322/2411480-1
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JinkoSolar Announces Fourth Quarter and Full Year 2018 Financial Results
SHANGHAI, March 22, 2019 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the solar PV industry, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2018. Fourth Quarter 2018 Highlights Total solar module shipments were 3,618 megawatts ("MW"), an increase of 22.5% from 2,953 MW in the third quarter of 2018 and an increase of 45.8% from 2,481 MW in the fourth quarter of 2017. Total revenues were RMB7.72 billion (US$1.12 billion), an increase of 15.3% from the third quarter of 2018 and an increase of 21.5% from the fourth quarter of 2017. Gross margin was 14.7%, compared with 14.9% in the third quarter of 2018, and 11.6% in the fourth quarter of 2017. Income from operations was RMB237.4 million (US$34.5 million), compared with RMB188.0 million in the third quarter of 2018 and RMB91.3 million in the fourth quarter of 2017. Net income attributable to the Company's ordinary shareholders was RMB114.8 million (US$16.7 million) in the fourth quarter of 2018, compared with RMB189.1 million in the third quarter of 2018 and RMB22.5 million in the fourth quarter of 2017. Diluted earnings per American depositary share ("ADS") were RMB2.92 (US$0.44) in the fourth quarter of 2018. Non-GAAP net income attributable to the Company's ordinary shareholders in the fourth quarter of 2018 was RMB111.8 million (US$16.3 million), compared with RMB206.3 million in the third quarter of 2018 and RMB41.5 million in the fourth quarter of 2017. Non-GAAP basic and diluted earnings per ADS were both RMB2.84 (US$0.40) in the fourth quarter of 2018, compared with RMB5.28 and RMB5.28 in the third quarter of 2018 and RMB1.28 and RMB1.24 in the fourth quarter of 2017, respectively. Full Year 2018 Highlights Total solar module shipments were 11.4 GW (including 209 MW to be used in the Company's overseas downstream solar projects), an increase of 16.0% from 9.8 GW for the full year 2017. Total revenues for the full year 2018 were RMB25.04 billion (US$3.64 billion), a decrease of 5.4% from RMB26.47 billion for the full year 2017. Gross margin was 14.0% for the full year 2018, compared with 11.3% for the full year 2017. Income from operations was RMB644.9 million (US$93.8 million), compared with RMB325.3 million for the full year 2017. Net income attribute to the Company's ordinary shareholders was RMB406.5 million (US$59.1 million) for the full year 2018, compared with RMB141.7 million for the full year 2017. Diluted earnings per ADS for the full year 2018 were RMB10.52 (US$1.52), compared with RMB4.32 for the full year 2017. Non-GAAP net income attributable to the Company's ordinary shareholders for the full year 2018 was RMB435.8 million (US$63.4 million), compared with RMB209.0 million for the full year 2017. Non-GAAP basic and diluted earnings per ADS for the full year 2018 were RMB11.32 (US$1.64) and RMB11.28 (US$1.64), compared with RMB6.48 and RMB6.36 for the full year 2017, respectively. Mr. Kangping Chen, JinkoSolar's Chief Executive Officer commented, "We closed out the year strongly with module shipments hitting another record high of 3,618 MW during the quarter, an increase of 22.5% sequentially and an increase of 45.8% year-over-year. We shipped a total of 11.4 GW of solar modules in 2018, an increase of 16.0% from 2017. Total revenues during the quarter were US$1.12 billion, an increase of 15.3% sequentially and an increase of 21.5% year-over-year. Total revenues for the full year 2018 were US$3.64 billion, a decrease of 5.4% from 2017, primarily due to lower ASPs. Gross margin was 14.0% for the full year 2018, compared with 11.3% for 2017. Excluding the impact of countervailing duties, gross margin expanded during the quarter to 13.8% from 12.8% last quarter. While the Chinese market was impacted by the policies released on May 31st, we were able to continue growing through our diversified global distribution network and further consolidate our leading position in terms of market share. With global demand recovering strongly, we remain confident in the future prospects of our business and expect module shipments to grow by approximately 30% in 2019." "China's National Energy Administration recently laid out plans for a bidding system and is expected to again begin granting subsidy approvals for utility-scale projects. Most importantly, subsidies will be prepaid by the state grid, which means there will be no more delays in payment for new projects. The new policies set a clear direction for the country's solar plans and will help to greatly improve sentiment for the solar sector as the country tries to smoothly transition towards grid parity and encourage a more market-driven environment. Based on the new policies, we believe domestic installations in 2019 will exceed last year. Distributed generation projects and projects completed at grid parity will continue to make up a larger portion of overall installations." "US demand continues to strengthen thanks to the introduction of the solar Investment Tax Credit (ITC) which is expected to generate robust growth during the second half of 2019. Our U.S. manufacturing facility began pilot production in November 2018 and has been steadily ramping up, with full production capacity expected to begin during the second quarter of 2019. With such enormous growth potential, we will continue to expand our presence in the US by leveraging our strong brand recognition, high quality products, and best-in-class customer service. Following the cancellation of the minimum import price policy, demand from solar power purchase agreements and grid-parity projects in the European markets is surging, especially in some of the biggest markets such as Spain, the Netherlands and Germany. Emerging markets are also booming with Jordan, Kuwait, South Africa, and Oman growing rapidly. We are also benefiting from our early entry into Southeast Asian markets such as Malaysia, Thailand and the Philippines where demand remained robust throughout 2018." "We continue to make progress implementing large-scale crystallization furnaces to increase productivity while working to develop technologies to reduce both oxygen content and light induced degradation. We are also leading the industry in terms of efficiency improvements on our diamond wire cutting, which is continuously reducing our wire consumption. Our large-area N-type monocrystalline silicon solar cell reached record high efficiency of 24.2% in January 2019. We are rapidly increasing our capacity to produce high-efficiency products by increasing both mono wafer capacity and PERC cell capacity and converting our existing non-PERC capacity to PERC capacity to increase output. With our production gradually ramping up into the middle of 2019, our expanded capacity will improve the competitiveness of our products and strengthen our cost advantages. This and other constant technological developments not only enable us to provide our clients with competitive high-efficiency products, but also allow us to sustainably cut costs. We are confident in our ability to further optimize our cost structure going forward and are fully prepared to enter an era of grid parity in the near future." "Looking out to 2019, we believe Chinese and global demand will grow as solar energy becomes more and more competitive. We are excited about the opportunities that lie ahead, and are confident in our ability to further expand our market share, distinguish ourselves from our competitors, and continue leading the industry forward." Fourth Quarter 2018 Financial Results Total Revenues Total revenues in the fourth quarter of 2018 were RMB7.72 billion (US$1.12 billion), an increase of 15.3% from RMB6.69 billion in the third quarter of 2018 and an increase of 21.5% from RMB6.35 billion in the fourth quarter of 2017. The sequential increase was mainly attributable to an increase in the shipment of solar modules in the fourth quarter of 2018. The year-over-year increase was mainly attributable to an increase in the shipment of solar modules, which was partially offset by a decline in the average selling price of solar modules in the fourth quarter of 2018. Gross Profit and Gross Margin Gross profit in the fourth quarter of 2018 was RMB1.13 billion (US$164.7 million), compared with RMB997.6 million in the third quarter of 2018 and RMB735.3 million in the fourth quarter of 2017. The sequential increase was mainly attributable to an increase in the shipment of solar modules in the fourth quarter of 2018. The year-over-year increase was mainly attributable to (i) an increase in the shipment of solar modules, and (ii) the benefit of Countervailing Duty ("CVD") reversal of RMB140.8 million and RMB69.4 million (US$10.0 million) in the third and fourth quarter of 2018, respectively, based on the amended final results of the fourth administrative review of the CVD order published by the U.S. Department of Commerce. The year-over-year increase was partially offset by a decline in the average selling price of solar modules in 2018. Gross margin was 14.7% in the fourth quarter of 2018, compared with 14.9% in the third quarter of 2018 and 11.6% in the fourth quarter of 2017. Excluding the CVD reversal benefit, gross margin was 13.8% in the fourth quarter of 2018, compared with 12.8% in the third quarter of 2018. The sequential increase was attributable to decrease in solar module cost, which was partially offset by decline in the average selling price of solar modules. The year-over-year increase was mainly attributable to (i) a decrease in solar module cost, and (ii) the benefit of CVD reversal, which was partially offset by decline in the average selling price of solar modules in 2018. Income from Operations and Operating Margin Income from operations in the fourth quarter of 2018 was RMB237.4 million (US$34.5 million), compared with RMB188.0 million in the third quarter of 2018 and RMB91.3 million in the fourth quarter of 2017. Excluding the CVD reversal benefit, income from operations in the fourth quarter of 2018 was RMB168.0 million (US$24.4 million), compared with RMB47.6 million in the third quarter of 2018. Operating margin in the fourth quarter of 2018 was 3.1%, compared with 2.8% in the third quarter of 2018 and 1.4% in the fourth quarter of 2017. Excluding the CVD reversal benefit, operating margin in the fourth quarter of 2018 was 2.2%. Total operating expenses in the fourth quarter of 2018 were RMB895.1 million (US$130.2 million), an increase of 10.6% from RMB809.6 million in the third quarter of 2018 and an increase of 39.0% from RMB644.0 million in the fourth quarter of 2017. The sequential and year-over-year increases were mainly due to an increase in shipping costs as a result of an increase in solar module shipments. Total operating expenses accounted for 11.6% of total revenues in the fourth quarter of 2018, compared to 12.1% in the third quarter of 2018 and 10.1% in the fourth quarter of 2017. Interest Expense, Net Net interest expense in the fourth quarter of 2018 was RMB74.0 million (US$10.8 million), an increase of 33.2% from RMB55.6 million in the third quarter of 2018 and an increase of 33.3% from RMB55.6 million in the fourth quarter of 2017. The sequential increase was mainly due to (i) an increase in borrowings, and (ii) the termination of interest capitalization on certain completed solar projects, which were partially offset by an increase of interest income. The year-over-year increase was mainly due to an increase in borrowings. Exchange Gain / (Loss), Net and Change in Fair Value of Forward Contracts The Company recorded a net exchange loss (including change in fair value of forward contracts) of RMB33.9 million (US$4.9 million) in the fourth quarter of 2018, compared to a net exchange gain of RMB93.5 million in the third quarter of 2018 and a net exchange loss of RMB33.9 million in the fourth quarter of 2017. The sequential change was primarily due to the depreciation of the US dollar against the RMB. Change in Fair Value of Interest Rate Swap The Company entered into Interest Rate Swap agreements with several banks for the purpose of reducing interest rate risk exposure associated with the Company's overseas solar power projects. The Company recorded a loss arising from change in fair value of interest rate swap of RMB38.5 million (US$5.6 million) in the fourth quarter of 2018, compared to a gain of RMB12.8 million in the third quarter of 2018. The sequential changes were primarily due to a decrease in the long-term interest rates. The Company did not elect hedge accounting for any of its derivatives. Change in Fair Value of Foreign Exchange Options The Company bought foreign exchange options from several banks for the purpose of reducing exchange rate risk exposure. The Company recorded a loss of RMB1.2 million (US$0.2 million) arising from change in fair value of the foreign exchange options, compared to a loss of RMB8.5 million in the third quarter of 2018. The sequential change was primarily due to the decrease in the remaining term of the options. Equity in Income of Affiliated Companies The Company indirectly holds a 20% equity interest in Sweihan PV Power Company P.J.S.C, a developer and operator of solar power projects in Dubai, and accounts for its investment using the equity method. The Company also holds a 30% equity interest in Jiangsu Jinko-Tiansheng Co., Ltd, which processes and assembles PV modules as an OEM manufacturer, and accounts for its investments using the equity method. The Company recorded equity in loss of affiliated companies of RMB25.1 million (US$3.6 million) in the fourth quarter of 2018, compared with an income of RMB4.9 million in the third quarter of 2018 and a loss of RMB1.4 million in the fourth quarter of 2017. The sequential change was primarily due to a loss arising from change in fair value of interest rate swap agreements purchased by Sweihan PV Power Company P.J.S.C. Income Tax Benefit / (Expense), Net The Company recorded an income tax benefit of RMB43.5 million (US$6.3 million) in the fourth quarter of 2018, as certain subsidiaries of the Company experienced loss in the fourth quarter and recognized corresponding deferred tax assets, compared with an income tax expense of RMB61.2 million in the third quarter of 2018 and an income tax expense of RMB31.1 million in the fourth quarter of 2017. Net Income and Earnings per Share Net income attributable to the Company's ordinary shareholders was RMB114.8 million (US$16.7 million) in the fourth quarter of 2018, compared with RMB189.1 million in the third quarter of 2018 and RMB22.5 million in the fourth quarter of 2017. Basic and diluted earnings per ordinary share were both RMB0.73 (US$0.11) during the fourth quarter of 2018. This translates into basic and diluted earnings per ADS both of RMB2.92 (US$0.44). Non-GAAP net income attributable to the Company's ordinary shareholders in the fourth quarter of 2018 was RMB111.8 million (US$16.3 million), compared with RMB206.3 million in the third quarter of 2018 and RMB41.5 million in the fourth quarter of 2017. Non-GAAP basic and diluted earnings per ordinary share were both of RMB0.71 (US$0.10) during the fourth quarter of 2018. This translates into non-GAAP basic and diluted earnings per ADS both of RMB2.84 (US$0.40). Financial Position As of December 31, 2018, the Company had RMB3.48 billion (US$506.4 million) in cash and cash equivalents and restricted cash, compared with RMB2.76 billion as of December 31, 2017. As of December 31, 2018, the Company's accounts receivables due from third parties were RMB5.44 billion (US$790.7 million), compared with RMB4.50 billion as of December 31, 2017. As of December 31, 2018, the Company's inventories were RMB5.74 billion (US$835.3 million), compared with RMB4.27 billion as of December 31, 2017. As of December 31, 2018, the Company's total interest-bearing debts were RMB9.71 billion (US$1.41 billion), compared with RMB7.43 billion as of December 31, 2017. Full Year 2018 Financial Results Total Revenues Total revenues for the full year 2018 were RMB25.04 billion (US$3.64 billion), a decrease of 5.4% from RMB26.47 billion for the full year 2017. The decrease in total revenues was mainly attributable to a decline in the average selling price of solar modules, which was partially offset by an increase in shipment of solar modules. Gross Profit and Gross Margin Gross profit for the full year 2018 was RMB3.51 billion (US$511.1 million), an increase of 17.5% from RMB2.99 billion for the full year 2017. Gross margin was 14.0% for the full year 2018, compared with 11.3% for the full year 2017. The year-over-year increase was mainly attributable to (i) an increase in the shipment of solar modules in 2018, which was partially offset by a decline in the average selling price of solar modules and (ii) the benefit of CVD reversal of RMB 209.7 million (US$30.5 million), based on the amended final results of the fourth administrative review of the CVD order published by the U.S. Department of Commerce. Excluding the CVD reversal benefit, gross margin was 13.2% for the full year 2018. The year-over-year increase was attributable to decrease in solar module cost, which was partially offset by decline in the average selling price of solar modules in 2018. Income from Operations and Operating Margin Income from operations for the full year 2018 was RMB644.9 million (US$93.8 million), compared with RMB325.3 million for the full year 2017. Operating margin for the full year 2018 was 2.6%, compared with 1.2% for the full year 2017. Total operating expenses for the full year 2018 were RMB2.87 billion (US$417.3 million), an increase of 7.6% from RMB2.67 billion for the full year 2017. Operating expenses represented 11.5% of total revenues for the full year 2018, compared with 10.1% for the full year 2017. The increase in total operating expenses was primarily due to the decrease in disposal gains of property, plant and equipment, and a decrease in the reversal of allowance for doubtful accounts upon subsequent collections. Interest Expense, Net Net interest expense for the full year 2018 was RMB295.7 million (US$43.0 million), an increase of 20.4% from RMB245.5 million in 2017. The year-over-year increase was mainly due to the increase in borrowings. Exchange Gain / (Loss), Net and Change in Fair Value of Forward Contracts The Company recorded a net exchange loss (including change in fair value of forward contracts) of RMB10.4 million (US$1.5 million) for the full year 2018 due primarily to appreciation of US dollars against RMB. The Company had net exchange loss of RMB122.6 million in 2017. The year-over-year decrease was mainly due to appreciation of US dollars against RMB. Change in Fair Value of Interest Rate Swap The Company entered into Interest Rate Swap agreements with several banks for the purpose of reducing interest rate risk exposure. The Company recorded a gain of RMB9.7 million (US$1.4 million) arising from change in fair value of the Interest Rate Swap agreements, compared to a loss of RMB16.1 million in 2017. The year-over-year changes were primarily due to an increase in the long-term interest rates. The Company did not elect hedge accounting for any of its derivatives. Change in Fair Value of Foreign Exchange Options The Company bought foreign exchange options from several banks for the purpose of reducing exchange rate risk exposure. The Company recorded a loss of RMB9.7 million (US$1.4 million) arising from change in fair value of the foreign exchange options. The loss from foreign exchange options was primarily due to the appreciation of the US dollar against the RMB. Equity in Income of Affiliated Companies The Company indirectly holds a 20% equity interest of Sweihan PV Power Company P.J.S.C, a developer and operator of solar power projects in Dubai, and accounts for its investments using the equity method. The Company also holds a 30% equity interest in Jiangsu Jinko-Tiansheng Co., Ltd, which processes and assembles PV modules as an OEM manufacturer, and accounts for its investments using the equity method. The Company recorded equity in income of affiliated companies of RMB2.6 million (US$0.4 million) for the full year 2018, compared with a loss of RMB2.1 million in 2017. Income Tax Expense, Net The Company recognized an income tax expense of RMB4.4 million (US$0.6 million) for the full year 2018, compared with an income tax expense of RMB4.6 million in 2017. Net Income and Earnings per Share Net income attributable to the Company's ordinary shareholders for the full year 2018 was RMB406.5 million (US$59.1 million), compared with a net income of RMB141.7 million in 2017. Basic and diluted earnings per share for the full year 2018 were RMB2.64 (US$0.38) and RMB2.63 (US$0.38), respectively. This translates into basic and diluted earnings per ADS of RMB10.56 (US$1.52) and RMB10.52 (US$1.52), respectively. Non-GAAP net income for the full year 2018 was RMB435.8 million (US$63.4 million), compared with non-GAAP net income of RMB209.0 million in 2017. Non-GAAP basic and diluted earnings per share for the full year 2018 were RMB2.83 (US$0.41) and RMB2.82 (US$0.41), respectively, which translates into non-GAAP basic and diluted earnings per ADS of RMB11.32 (US$1.64) and RMB11.28 (US$1.64), respectively. Fourth Quarter and Full Year 2018 Operational Highlights Solar Module Shipments Total solar module shipments in the fourth quarter of 2018 were 3,618 MW. Total solar module shipments in 2018 were 11.4 GW (including 209 MW to be used in the Company's overseas downstream solar projects), compared to 9.8 GW in 2017. Solar Products Production Capacity As of December 31, 2018, the Company's in-house annual silicon wafer, solar cell and solar module production capacity was 9.7 GW, 7.0 GW and 10.8 GW, respectively. JinkoSolar expects its annual silicon wafer, solar cell and solar module production capacity to reach 15 GW (including 11 GW of mono wafers), 10 GW (including 9.2 GW of PERC cells) and 15 GW, respectively, by the end of 2019. Recent Business Developments In October 2018, JinkoSolar announced that it had entered into the Contract for the Supply of PV Modules with Decmil Australia Pty Ltd on September 27, 2018, for supply 255MWp of its high efficient solar panels for the Sunraysia Solar Farm developed by Maoneng Group. In November 2018, JinkoSolar announced that it was awarded the 2018 World Brand Award by the World Brand Forum, a global non-profit organization dedicated to advancing branding standards for the good of the branding community as well as consumers. In December 2018, JinkoSolar announced that it supplied 55.7MW of high-efficiency modules to the Garissa Solar Power Plant, which is expected to be one of the largest solar power plants in central and eastern Africa once completed. In December 2018, JinkoSolar announced that it supplied 132 MWdc of PV modules to Swinerton Renewable Energy for the construction of the Techren Solar 1 Project in Boulder City, Nevada. In December 2018, JinkoSolar announced that it had contributed to the Business 20 (B20) Energy, Resource Efficiency & Sustainability (ERES) Task Force for inclusion of the task force's policy proposal in the G20 Leaders' Declaration, Buenos Aires. In January 2019, JinkoSolar announced that a record high efficiency of 24.2% was achieved by its large-area N-type TOPCon monocrystalline silicon solar cell. In January 2019, JinkoSolar announced that its products underwent LeTID testing by Wind Power Systems Quality Test Center, IEE, and CAS. Operations and Business Outlook First Quarter and Full Year 2019 Guidance For the first quarter of 2019, the Company estimates total solar module shipments to be in the range of 2.8 GW to 3.0 GW. For the full year 2019, the Company estimates total solar module shipments to be in the range of 14.0 GW to 15.0 GW. Conference Call Information JinkoSolar's management will host an earnings conference call on Friday, March 22, 2019 at 8:30 a.m. U.S. Eastern Time (8:30 p.m. Beijing / Hong Kong the same day). Dial-in details for the earnings conference call are as follows: Hong Kong / International: +852 3027 6500 U.S. Toll Free: +1 855-824-5644 Passcode: 58454648# Please dial in 10 minutes before the call is scheduled to begin and provide the passcode to join the call. A telephone replay of the call will be available 2 hours after the conclusion of the conference call through 23:59 U.S. Eastern Time, March 29, 2019. The dial-in details for the replay are as follows: International: +61 2 8325 2405 U.S.: +1 646 982 0473 Passcode: 319314070# Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of JinkoSolar's website at www.jinkosolar.com. About JinkoSolar Holding Co., Ltd. JinkoSolar (NYSE: JKS) is one of the world's largest and foremost solar module manufacturers. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 9.7 GW for silicon wafers, 7.0 GW for solar cells, and 10.8 GW for solar modules, as of December 31, 2018. JinkoSolar has over 12,000 employees across its 6 productions facilities globally, 15 oversea subsidiaries in Japan, Korea, Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia and United Arab Emirates, and global sales teams in United Kingdom, France, Netherlands, Spain, Bulgaria, Greece, Romania, Ukraine, Jordan, Saudi Arabia, Tunisia, Egypt, Morocco, Nigeria, Kenya, South Africa, Costa Rica, Colombia, Panama and Argentina. To find out more, please see: www.jinkosolar.com Use of Non-GAAP Financial Measures To supplement its consolidated financial results presented in accordance with United States Generally Accepted Accounting Principles ("GAAP"), JinkoSolar uses certain non-GAAP financial measures including, non-GAAP net income, non-GAAP earnings per Share, and non-GAAP earnings per ADS, which are adjusted from the comparable GAAP results to exclude certain expenses or incremental ordinary shares relating to share-based compensation and, convertible senior notes: Non-GAAP net income is adjusted to exclude the expenses relating to interest expenses of convertible senior notes, exchange gain on the convertible senior notes, and stock-based compensation; given these Non-GAAP net income adjustments above are either related to the Company or its subsidiaries incorporated in Cayman Islands, which are not subject to tax exposures, or related to those subsidiaries with tax loss positions which result in no tax impacts, therefore no tax adjustment is needed in conjunction with these Non-GAAP net income adjustments; and Non-GAAP earnings per Share and non-GAAP earnings per ADS are adjusted to exclude interest expenses of convertible senior notes and exchange gain on the convertible senior notes, and stock-based compensation. The Company believes that the use of non-GAAP information is useful for analysts and investors to evaluate JinkoSolar's current and future performances based on a more meaningful comparison of net income and diluted net income per ADS when compared with its peers and historical results from prior periods. These measures are not intended to represent or substitute numbers as measured under GAAP. The submission of non-GAAP numbers is voluntary and should be reviewed together with GAAP results. Currency Convenience Translation The conversion of Renminbi into U.S. dollars in this release, made solely for the convenience of the readers, is based on the noon buying rate in the city of New York for cable transfers of Renminbi as certified for customs purposes by the Federal Reserve Bank of New York as of December 31, 2018, which was RMB6.8755 to US$1.00. No representation is intended to imply that the Renminbi amounts could have been, or could be, converted, realized, or settled into U.S. dollars at that rate or any other rate. The percentages stated in this press release are calculated based on Renminbi. Safe-Harbor Statement This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. For investor and media inquiries, please contact: In China: Sebastian LiuJinkoSolar Holding Co., Ltd.Tel: +86 21-5183-3056Email: ir@jinkosolar.com Christian ArnellChristensenTel: +86-10-5900-2940Email: carnell@christensenir.com In the U.S.:Ms. Linda BergkampChristensen Tel: +1-480-614-3004 Email: lbergkamp@ChristensenIR.com JINKOSOLAR HOLDING CO., LTD. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except ADS and Share data) 2017 2018 Continuing operations RMB RMB USD Revenues from third parties 24,791,272 23,586,834 3,430,563 Revenues from related parties 1,681,671 1,455,779 211,734 Total revenues 26,472,943 25,042,613 3,642,297 Cost of revenues (23,481,375) (21,528,868) (3,131,244) Gross profit 2,991,568 3,513,745 511,053 Operating expenses: Selling and marketing (1,901,358) (1,708,270) (248,458) General and administrative (470,845) (779,423) (113,362) Research and development (294,103) (366,577) (53,316) Impairment of long-lived assets - (14,548) (2,116) Total operating expenses (2,666,306) (2,868,818) (417,252) Income from operations 325,262 644,927 93,801 Interest expenses, net (245,530) (295,692) (43,007) Subsidy income 147,917 52,176 7,589 Exchange gain/(loss), net (114,345) 33,681 4,899 Change in fair value of interest rate swap (16,122) 9,701 1,411 Change in fair value of foreign exchange options - (9,720) (1,414) Change in fair value of forward contracts (8,211) (44,090) (6,413) Other income, net 59,647 25,817 3,755 (Loss)/gain on disposal of subsidiaries 257 (9,425) (1,371) Income before income taxes 148,875 407,375 59,250 Income tax expense (4,627) (4,411) (641) Equity in income/(loss) of affiliated companies (2,056) 2,610 379 Net income 142,192 405,574 58,988 Less: Net (loss)/income attributable to non-controlling interests 486 (903) (132) Net income attributable to JinkoSolar Holding Co., Ltd.'s ordinary shareholders 141,706 406,477 59,120 Net income attributable to JinkoSolar Holding Co., Ltd.'s ordinary shareholders per share: Basic 1.10 2.64 0.38 Diluted 1.08 2.63 0.38 Net income attributable to JinkoSolar Holding Co., Ltd.'s ordinary shareholders per ADS: Basic 4.40 10.56
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Veritas Appoints Todd Forsythe as Chief Marketing Officer
Dell EMC and Pure Storage veteran strengthens Veritas' leadership team SINGAPORE, March 22, 2019 /PRNewswire/ -- Veritas Technologies, a worldwide leader in enterprise data protection and software-defined storage, today announced the appointment of Todd Forsythe as chief marketing officer. "Todd's experience across cloud, software, hardware and services will help us accelerate our growth and reach new customers and partners," said Greg Hughes, chief executive officer, Veritas. Forsythe is an accomplished marketing executive with over 25 years of experience. He joins Veritas from Pure Storage, where he served as chief marketing officer. Prior to that, he was responsible for Worldwide Digital Marketing at Dell Technologies. Forsythe was previously SVP of Corporate Marketing at Dell EMC and has held marketing leadership roles at Salesforce, Oracle and Cisco. "I could not be more excited to join the Veritas team," said Todd Forsythe, chief marketing officer, Veritas. "As the market leader in enterprise data management, Veritas has an amazing brand and an immense opportunity to engage customers in creative ways." Forsythe will be based in Veritas' new Santa Clara, Calif. headquarters. About Veritas Veritas Technologies is a global leader in enterprise data management -- our software and solutions help organizations protect their mission-critical data. Tens of thousands of businesses, including 97% of Fortune 100 companies, rely on us every day to back up and recover their data, keep it secure and available, to guard against failure and achieve regulatory compliance. In today's digital economy, Veritas delivers technology that helps organizations reduce risks and capitalize on their most important digital asset -- their data. Learn more at www.veritas.com or follow us on Twitter at @veritastechllc. Forward-looking Statements: Any forward-looking indication of plans for products is preliminary and all future release dates are tentative and are subject to change at the sole discretion of Veritas. Any future release of the product or planned modifications to product capability, functionality, or feature are subject to ongoing evaluation by Veritas, may or may not be implemented, should not be considered firm commitments by Veritas, should not be relied upon in making purchasing decisions, and may not be incorporated into any contract. Veritas and the Veritas Logo are trademarks or registered trademarks of Veritas Technologies LLC or its affiliates in the U.S. and other countries. Other names may be trademarks of their respective owners. PR Contacts APJ ContactVeritas TechnologiesBan Leng Neo +65 98295801banleng.neo@veritas.com ArchetypeAvinash R / Kaiping Neo+65-6603-9000singaporeveritas@archetype.co Logo - http://photos.prnasia.com/prnh/20150408/8521502200 Related Links :http://www.veritas.com
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MobiFone Enters $3.5-Trillion App Economy with mobifoneGo
Leading Vietnamese Carrier Launches New Content Services Using Syntonic's Revenue Generation Platform HANOI, Vietnam, March 22, 2019 /PRNewswire/ -- Syntonic, a leading mobile technologies and services provider, today announced that MobiFone Telecommunications Corporation ("MobiFone"), one of the leading mobile operators in Vietnam, has launched its new mobifoneGo service, built entirely on Syntonic's Revenue Generation Platform to capture new app-economy revenue streams. mobifoneGo offers consumers unlimited access to popular apps for a fixed daily or monthly fee. mobifoneGo offers consumers unlimited, data-free access to popular apps for a fixed daily or monthly fee. The new mobifoneGo service represents the first deployment of the newly-expanded Syntonic Revenue Generation platform, which now enhances its mobile advertising services with mobile commerce and content monetization capabilities. Syntonic has created the only unified platform for acquiring, engaging and monetizing a mobile audience throughout the entire customer journey. "We're thrilled to support MobiFone and our partner TLC in the launch of mobifoneGo," said Gary Greenbaum, Syntonic CEO. "This is a great customer endorsement of our end-to-end solution. MobiFone will deploy the entire unified platform, including our new mobile commerce services which make it easy and convenient for customers to purchase mobifoneGo app bundles using funds available in their carrier prepaid or postpaid account." Initially, the mobifoneGo service will support content subscription bundles with unlimited access for a fixed fee. Future services will integrate sponsored data and data rewards that engage and reward customers for specific actions, paid for by advertisers and content providers. mobifoneGo will launch with 16 "app bundles," including popular apps such as WhatsApp, Gmail, Grab, Skype, and Spotify, which can be purchased in either daily or monthly subscription packages. With a subscription, consumers have unlimited online access to their apps, which does not count against their data plan. The mobifone app is now available in the Google Play Store and coming soon to the App Store. Learn more at mobifonego.vn About MobiFone Established in 1993, MobiFone was the first mobile operator in Vietnam and currently serves nearly 50 million subscribers. About Syntonic Syntonic (ASX: SYT) unlocks the value of mobile data. Operators worldwide use Syntonic's easy-to-deploy Revenue Generation Platform to capture new revenue streams from mobile data and the app economy. Syntonic's award-winning software, services, and support span mobile advertising, content monetization, and online commerce, enabling mobile carriers, app publishers, content providers and advertisers to engage their audience and customers throughout the entire lifecycle. Learn more at www.syntonic.com. Photo - https://mma.prnewswire.com/media/839634/mobifoneGo2.jpg Logo - https://mma.prnewswire.com/media/294833/syntonic_logo.jpg Related Links :http://www.syntonic.com/
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Exyte demonstrates high-potential digital Smart Fab Solution at SEMICON China 2019
SHANGHAI, March 22, 2019 /PRNewswire/ -- Exyte, the global leader in the design, engineering and construction of high-tech facilities, plants and factories, showcases its Smart Fab design concept at Semicon China 2019 in Shanghai from 20 March to 22 March. Frank Lorenzetto, Managing Director of Exyte China, said: "The Smart Fab concept is an evolution beyond today's typical approach of the optimization of CAPEX, speed and quality during design and construction. Exyte has focused on this transition and the development of solid expertise in digitalization. As the industry leader, we are dedicated to providing clients with an outstanding Fab in line with future trends. China is one of the most significant markets for us with huge potential for adoption and implementation of the Smart Fab concept." The Smart Fab concept utilizes developments in IoT technology, interconnected IT systems and automated analytics of the Big Data available in a semiconductor wafer fab. "Smart Fabs will be a key technology in the semiconductor industry to face the challenges of optimized capital expenditure (CAPEX), reduced operational expenditure (OPEX), as well as improved service from the Supply Chain", John Zhang, Vice President Regional Business Unit Advanced Technological Facilities for Asia-Pacific explained. The Digital Facilities Twin in the IoT Platform combines real time facility data with manufacturing data. The Digital Facilities Twin is a core element of the Smart Fab concept consisting of a virtual digital model of the buildings and all facility systems. It is developed and maintained during design, construction and operation of a Fab. This transparent, digitalized platform consists of an advanced Building Integration Model (BIM) and incorporates real-time data from the core Facility Monitoring and Control System (FMCS) module, additional IoT sensors, as well as advanced data analytics. The Digital Twin also communicates with other systems including the Manufacturing Execution System (MES) and Enterprise Resource Planning (ERP) system. With progressive implementation of the Smart Fab concept, Exyte's clients will meet enhanced quality and safety standards and improve operational excellence through cost-efficient and reliable project implementation. This transparent and real-time information will also enable optimized system sustainability and increased energy efficiency throughout the fab's Life Cycle. Exyte has grown in China for over 24 years, with more than 300 projects implemented, and has built a strong trusted relationship with its clients and the supply chain. Being the only global company serving the Semiconductor and Life Sciences markets to hold a Grade A General Contractor License in China, the company is enabled to design and build facilities of all scale and sophistication. To learn more about Smart Fab, visit Exyte at booth #1022 in Hall N1 at the Shanghai New International Expo Center. About Exyte Exyte is a global leader in design, engineering and construction delivering high-tech facilities, plants and factories. With a history of more than 100 years, the company has developed a special expertise in controlled and regulated environments. It serves the most technically demanding clients in growth markets such as semiconductors, life sciences, and data center across the full spectrum of services from consulting and design to managing turnkey solutions. Operating in more than 20 countries, Exyte is uniquely positioned to support clients locally and globally. In 2017, Exyte generated sales of 2.4 billion euros, up from 2.1 billion euros in 2016 on a like-for-like basis, with over 4,800 highly experienced and motivated employees (by the end of the year 2017). Exyte emerged from a regrouping of the M+W Group in 2018. Exyte is a member of the Stumpf Group. For further information about the company please see our website: www.exyte.net About Semicon China Semicon China is the world's fastest-growing trade fair, providing a platform to connect top tier manufacturers in the semiconductor industry with the most qualified audience of industry professionals in China. Photo - https://photos.prnasia.com/prnh/20190321/2410571-1
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Synopsys Delivers Industry's First USB4 Subsystem Verification Solution, VIP, and Test Suite for High-performance USB Architecture
Native SystemVerilog VIP for USB Features Built-in Coverage, Verification Plan, Protocol-Aware Debug, and Source Code Test Suites MOUNTAIN VIEW, California, March 22, 2019 /PRNewswire/ -- Synopsys, Inc. (Nasdaq: SNPS) today announced the availability of the industry's first Subsystem Verification Solution, Verification IP (VIP), and UVM source code test suite to support the latest USB4 specification. USB4 includes two-lane operation using the existing USB Type-C™ connector that can carry up to 40Gbps data over new certified cables. USB4 also supports Thunderbolt™ 3 and expands USB functionality to include new display capabilities. "USB4 represents a significant specification update that will require a robust certification program to ensure delivery of compliant and interoperable USB devices in the consumer market," said USB-IF president and chief operating officer Jeff Ravencraft. "Synopsys VIP for USB4 strengthens the USB ecosystem and facilitates early adoption and rapid development of the high-performance next-generation USB architecture." Synopsys was also first in the industry to deliver VIP and source code test suite for USB 3.2 and USB power delivery 3.0. Synopsys VC VIP for USB is based on a native SystemVerilog/UVM architecture and features built-in comprehensive coverage, verification plan, extensive protocol checks, and integration with Synopsys' Verdi® protocol-aware debug for ease-of-use and increased productivity. Synopsys VIP includes an extensive and customizable set of frame generation, error injection capabilities, and comprehensive exception list to generate negative scenarios. In addition, UVM source code test suites are also available to verify features with minimal effort and jumpstart custom testing of USB designs. "Collaborating with standards organizations and market-makers enables us to deliver another industry-first USB VIP solution," said Vikas Gautam, vice president of R&D for the Synopsys Verification Group. "We are engaged with early adopters of USB4, enabling them to accelerate verification closure and remain ahead in their markets." Availability and Additional Resources Synopsys VIP and source code test suite for USB4 are available today as standalone products. VIP and source code test suites for USB up to 3.2, Power Delivery up to 3.0, and Subsystem Verification Solution for Type-C™ are also available. Contact Synopsys for information regarding the DesignWare® USB4 controller and PHY IP solution. For more information: Visit the VC Verification IP for USB website Download the VC VIP for USB datasheet About Synopsys Synopsys, Inc. (Nasdaq: SNPS) is the Silicon to Software™ partner for innovative companies developing the electronic products and software applications we rely on every day. As the world's 15th largest software company, Synopsys has a long history of being a global leader in electronic design automation (EDA) and semiconductor IP and is also growing its leadership in software security and quality solutions. Whether you're a system-on-chip (SoC) designer creating advanced semiconductors, or a software developer writing applications that require the highest security and quality, Synopsys has the solutions needed to deliver innovative, high-quality, secure products. Learn more at www.synopsys.com. USB Type-C is a trademark of USB Implementers Forum. Thunderbolt™ is a trademark of Intel Corporation or its subsidiaries in the U.S. and/or other countries. Editorial Contacts: Teresa Zhang Synopsys, Inc. yingxue@synopsys.com James Watts Synopsys, Inc. jwatts@synopsys.com Related Links :http://www.synopsys.com
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Malaysia's Sapura Group Announced as Host Operator for World-leading CCW Critical Communications Event
TCCA's annual showcase of excellence to be held in Kuala Lumpur 18-20 June LONDON, March 22, 2019 /PRNewswire/ -- The Sapura Group, Malaysia's leading technology organisation, has confirmed that it will be Host Operator for TCCA's Critical Communications World (CCW) 2019, the world's premier event for critical communications professionals. CCW will be held in Kuala Lumpur from 18-20 June. Sapura operates the Government Integrated Radio Network (GIRN) which utilises some 600 TETRA base stations to serve more than 40,000 Public Protection and Disaster Relief (PPDR) users in 16 agencies throughout Malaysia. With technology central to Sapura's six key business areas, the company's unwavering commitment to R&D, innovation and building capability has enabled it to be globally competitive in the provision of secured communications solutions for the security enforcement and defence industry, as well as across commercial vertical markets such as oil and gas, railway, manufacturing and aviation. Mohd Zarif Hashim, Sapura Group COO said: "CCW is the established annual showcase for the latest developments in critical communications, and the platform for shaping the future of this market. As official Host Operator, we are delighted to welcome the event and all attendees to Malaysia, and to demonstrate the strengths of our region to the critical communications world." "The Sapura Group has a true commitment to the delivery of critical communications requirements and is a long-standing TCCA member," said Tony Gray, TCCA Chief Executive. "We are delighted that Sapura has agreed to be Host Operator for CCW, and we look forward to working with the Sapura team and their Malaysian Government and agency customers to ensure that the invaluable work of the critical communications industry reaches the widest possible global audience." CCW 2019 will be held at the Malaysia International Trade & Exhibition Centre (MITEC). Positioned as an economic catalyst and gateway to Southeast Asia, MITEC spans more than 45,000 m2 of purpose-built exhibition space and triple volume exhibition halls. The venue is the largest trade and exhibition centre in Malaysia. For more information about the Sapura Group, please visit For more information please visit http://www.sapura.com.my/ For more information about CCW please visit www.critical-communications-world.com For more information about TCCA please visit www.tcca.info
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RemoteMyApp adopts IBM Cloud to scale multi-platform gaming service
IBM Cloud provides Vortex platform with scalability and strong performance for online gamers around the world on almost any device ARMONK, New York, March 22, 2019 /PRNewswire/ -- IBM (NYSE: IBM) today announced that Polish startup RemoteMyApp will adopt IBM Cloud for increasing global reach and scaling of its Vortex gaming platform. Vortex allows users to play games anywhere in the world on almost any device - smartphone, tablet, or smart TV –via the application, without downloading the game. As the platform has grown in usage and expanded to new markets such as Latin America and South East Asia, Vortex needed to scale its services, updates, and functionality to meet growing demand from players. Vortex turned to IBM Cloud to provide the global scale needed to provide a low latency gaming experience no matter where players are or what device they are using. IBM Cloud positions the Vortex platform to provide high performance computing service with GPU graphics cards. Using powerful servers hosted in several of the nearly 60 IBM Data Centers around the world, Vortex can handle an infinite number of players from all continents without any loss in efficiency or quality of services and with the lowest possible latency. With a game library available in the cloud, gamers will even play games on older devices because all of the processing, including graphics, has been transferred to the cloud. The growth of online gaming platforms turning to cloud is the result of two factors –a constant growth in the number of players and the increasing popularity of mobile devices. The Vortex deployment is just one of a handful of gaming industry clients like EA's Firemonkeys, Exit Games, and LiquidSky that recently adopted the IBM Cloud to deliver a gaming experience that is globally scalable and allows for quick product updates in a competitive market. "The gaming market is currently the fastest growing entertainment sector, and the sale of video games alone generates almost three times more revenue than the global film industry," said Andreas Hestbeck, CEO at RemoteMyApp. "Our users live almost everywhere in the world and the subscriptions are growing every day - which is why we need IBM Cloud for reliable, global scalability." "RemoteMyApp chose IBM Cloud as a collaborator in their digital transformation because we are dedicated to meeting customers where they are on their cloud journey whether they're a startup or have decades of legacy systems and need a hybrid cloud solution," said Przemyslaw Galinski, IBM Cloud Platform Sales Leader Poland and Baltics. "We look forward to providing RemoteMyApp with the scale they need as they mature in this competitive, growing market." Since its launch in 2017, Vortex has gained in popularity among cloud gaming platforms with more than 6 million users. With a monthly subscription model, players are granted 100 hours of gameplay and access to more than 100 games, including new releases. Unlike many other streaming platforms, Vortex does not require installing anything other than the application to access the library and choose a game. About RemoteMyApp Vortex platform is a flagship service in the RemoteMyApp portfolio. Another service, Remotr, allows users to stream games installed on home PCs to any other device with Android and iOS, such as a smartphone, tablet or smart TV. For more information, visit https://vortex.gg/ and http://remotemyapp.com. For more information on IBM Cloud, visit: ibm.com/cloud. Media ContactTyler AllenIBM Media Relationstballen@us.ibm.com Logo - https://mma.prnewswire.com/media/95470/ibm_logo.jpg Related Links :http://www.ibm.com
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Frost & Sullivan Identifies Motivators of Growth in the Global Battery Energy Storage Market
Dramatic advances expected with increasing favorable market conditions SANTA CLARA, California, March 22, 2019 /PRNewswire/ -- Frost & Sullivan invites you to join Energy team members Jonathan Robinson, program lead, and Utham Ganesh, research analyst, for the upcoming Frost Webinar, Growth Opportunities in the Global Battery Energy Storage Market. Attend the live event on Tuesday, March 26, 2019, at 9 AM ET to hear why manufacturers must educate customers and promote the benefits of installing battery energy storage systems, explore the latest business models, and learn about activities in the energy storage space and how companies must position themselves in this lucrative market. To register for the complimentary webcast, please visit: http://frost.ly/38w. Many battery manufacturers are incorporating energy intelligence into storage systems and unlocking multiple revenue opportunities by allowing customer-sited energy storage to participate in the local energy market. Solar paired with storage is increasingly becoming attractive due to the falling solar PV and battery prices with self-consumption becoming a significant driver toward decentralized energy. In addition, the growth of electric vehicles in critical global markets is also expected to spur the adoption of commercial battery storage because of its ability to stabilize the grid as well as generate an additional revenue stream. Partnerships across the value chain are necessary to fully realize the potential of multiple revenue-stacking opportunities as the energy market is rapidly changing with the evolution of numerous business models. "Strong, viable business models and strategic partnerships with PV kit integrators/distributors are crucial for penetrating the battery storage market," said Utham Ganesh, Research Analyst. "Companies must have a strong understanding of the local regulatory landscape and be able to identify the best incentives or tax credits available to end users." Key takeaways of the webcast include: Gain insight into the trends in the residential and commercial battery storage segments Explore the main motivations behind installing battery storage in regions and potential concerns Identify the primary business models in battery energy storage and ways to reach the customer About Frost & Sullivan Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion. For more information, visit ww2.frost.com or call +1 (877) 463-7678. Press Contact: Jaylon BrinkleyFrost & Sullivan +1 (210) 247 2481jaylon.brinkley@frost.comRelated Links :http://www.frost.comhttps://ww2.frost.com
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Yiwugo Launches "Personalized" AI Function for Product Recommendations
YIWU, China, March 21, 2019 /PRNewswire/ -- Yiwugo.com, the official website of the largest commodities wholesale market in the world, has launched the AI-based function for product recommendations for both of its PC and app versions. Adopting the latest deep neural network technology, the function intelligently recommends matching commodities according to the different needs of commodity buyers, and thus greatly facilitates the sourcing of satisfactory goods for them. The development of Yiwu's physical market is also a process of orderly management and supply of commodities. In order to make it easy for buyers from all over the world to locate satisfactory sources of goods from the vast number of commodities in Yiwu's physical market, the market of Yiwu has adopted the method of setting up stalls according to the categories of commodities, i.e. commodities of the same category are arranged for sale in the same block. In this way, customers can quickly find the corresponding sections for goods they are looking for, compare similar goods at different stalls, and finally locate the goods they desire. In addition, such a method has also created an open, just and fair competitive environment for dealers of the same category of commodities and laid a solid foundation for the prosperity of Yiwu's physical market. With the development of information technology, Yiwu's physical market of commodities, which has been pursuing fine management, is putting continued efforts to improve the orderly management and supply of commodities using new technologies. As the official e-commerce website of Yiwu's physical market of commodities, Yiwugo has been committed to promoting the transformation and upgrading of the physical market using new technologies. One of Yiwugo's most important tasks is to match the sources of goods with their buyers more efficiently using the latest AI technology. A deep neural network is a pattern recognition system, which can learn to execute specific instructions through analyzing massive volumes of data. The neural network was invented in the 1960s. There were two reasons why it had not been widely applied before. The first was the lack of computing power to train data models; the other was the lack of a massive volume of valid data sets. This means that the completion of Yiwugo's AI-based function for product recommendation requires the combination of two capabilities, i.e. computing power and valid data of commodities. In 2014, Yiwugo established the Yiwugo Research Institute, which is focused on AI research and application. After years of development, Yiwugo Research Institute has achieved good results in the research of AI technology. In addition, since the Yiwugo e-commerce platform was officially launched in October 2012, it has accumulated more than 70,000 pieces of data on commodity suppliers, millions of data on commodities, and data on buyers' search history of commodities over the years. Using the latest technological achievements in the deep neural network and the accumulated professional data of commodities, Yiwugo conducted a large number of experiments to optimize the algorithm and model parameters under the "supervised learning" mode and finally launched the "Personalized" AI function for product recommendations. This is the result of the combination of research on deep neural network technology and the development of vertical industries in China, and plays a demonstrative role promoting the application of artificial intelligence to different industries. View original content to download multimedia:http://www.prnewswire.com/news-releases/yiwugo-launches-personalized-ai-function-for-product-recommendations-300816246.html
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Systech Partners With NW Solutions to Deliver Brand Protection Offerings
PRINCETON, New Jersey, March 21, 2019 /PRNewswire/ -- Systech, a global leader in supply chain security and brand protection, and NW Solutions (M) Sdn Bhd (NWSM) of Malaysia, have announced a strategic partnership to provide anti-counterfeiting, diversion detection and regulatory compliance solutions. Ara Ohanian, Systech's CEO, says, "Our ambition is to help brand owners develop strategies to combat counterfeiting and product diversion. In addition, we bring over 30 years of history working with the top 20 global pharmaceutical companies on regulatory compliance. Our strategic partnership with NW Solutions, promises to innovate and deliver future-ready brand protection in Malaysia and the region." Founded in 2000, NW Solutions provides comprehensive end-to-end supply chain insights and offers a broad range of professional services and solutions to help organizations facilitate change, achieve their corporate vision, and optimize performance and productivity. Rick Loh, CEO, NW Solutions adds, "Our strategic partnership with Systech will allow our customers to improve their bottom line by having a clear visibility and control across their brand value chains, while combating the ever-growing global challenges of counterfeiting and diversion." About NW Solutions (M) Sdn Bhd (NWSM) NW Solutions has a long standing history of helping customers solve current and long term business challenges. Collaboration with leading technology partners allows NWSM to deploy proven solutions that add value and benefit customers. Solutions include brand and customer protection, regulatory statutory reporting compliance, visibility across demand and supply chains, process automation, and cost control. Contact:+603 7713 5388inquiry@nwsm.com About Systech Systech is revolutionizing brand protection. Global brands have relied on us to combat counterfeiting, prevent product diversion and meet regulatory compliance. Innovation is deeply ingrained in our DNA—from our start-up roots in advanced machine vision to pioneering pharmaceutical serialization and transforming traceability and non-additive authentication. Our software solutions keep products authentic, safe and connected across the supply chain—from manufacturing to the consumer's hands. Contact:Jefferson Barr, VP Marketing+1-609-467-0380Jefferson.barr@systechone.com Logo - https://mma.prnewswire.com/media/461585/Systech_Logo.jpg Related Links :https://www.systechone.com
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P.I. Works Commended by Frost & Sullivan for the Exceptional Price-Performance Value of Its Automated Network Management and Capacity Planning Solutio
With a predominantly software-based architecture, the P.I. Works uSON solution enhances scalability, reduces deployment time, and contains costs through automated actions LONDON, March 21, 2019 /PRNewswire/ -- Based on its recent analysis of the global network management and capacity planning market, Frost & Sullivan recognises P.I. Works with the 2019 Global Price/Performance Value Leadership Award for its network automation platform uSON--a comprehensive solution engineered for mobile operators. The uSON platform is uniquely built on a micro-service architecture of segregated core components that communicate in the background. Embedded with powerful data analytics and machine learning capabilities, uSON enables operators to plan, operate, and optimise network infrastructure, ultimately translating into cost savings and quality improvements. "uSON is scalable and lightweight and it can be deployed much faster than competing solutions. The platform's built-in machine learning capabilities allow operators to explore rich network and customer data so that mobile operators can make informed decisions regarding capacity optimisation, management, and expansion," said Rohan Thomas, Industry Analyst. "uSON can recommend investment type for capacity planning actions, such as carrier upgrades, hardware expansions, license upgrades/downgrades, and cell additions/removals." uSON's predictive analytics can be extended to both short- and long-term network management and planning use cases. While short-term actions prepare end users for sudden fluctuations in network resource allocation, long-term actions provide operators with an understanding of potential investment areas and resource allocation. They do this by augmenting the information extracted from customer and network data sources and cross referencing it with the planning data. "P.I. Works is recognised globally as an independent, unbiased solution provider in the network automation domain, extending support to its customer base of mostly Tier I to Tier III mobile operators," noted Rohan. "By automating and optimising load sharing and throughput across cell clusters, while reducing bottlenecks across the network, P.I. Works' uSON platform delivers exceptional price-value performance to mobile operators worldwide." Başar Akpınar, P.I. Works CEO & Co-founder, said, "We are proud to be honoured by Frost & Sullivan as the leader in Automated Network Management and Capacity Planning. Frost & Sullivan's recognition of P.I. Works is the result of our strong technology vision and commitment to delivering best-in-class network management solutions to our customers around the world. I would also like to thank our team for their great effort. I am confident that this award will motivate us to continue delivering outstanding results for our customers." Each year, Frost & Sullivan presents this award to a company that has developed a product to suit market and client needs. The award lauds the recipient company's price competitiveness, features, ease of product use, and service effectiveness. Frost & Sullivan Best Practices Awards recognise companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry. About P.I. WorksP.I. Works is the leading provider of AI-assisted and automated mobile network planning, management and optimization solutions. P.I. Works combines field-proven expertise with its award-winning product portfolio and services. These solutions empower Mobile Operators to accelerate network transformation, improve network quality and reduce network management costs on the way to 5G. P.I. Works has deployed its solutions at 47 mobile network operators in 35 countries. P.I. Works also plays an important role in the development of key standards that define the future of mobile networks. We actively contribute to the ETSI, GTI, 3GPP standardization forum and open source initiatives. About Frost & SullivanFrost & Sullivan, the Growth Partnership Company, collaborates with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, Frost & Sullivan has been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion. Contact: Kristen MooreP: 210.247.3823E: kristen.moore@frost.com Photo - https://mma.prnewswire.com/media/839143/PI_Works_Award_Logo.jpg Related Links :http://www.frost.com
