Tensor Tech Disrupting Satellite Minimization by Going Lighter, Smaller, and More Power-Efficient
GS1 UK appoints Syndigo to enhance productDNA data management and sharing service
JS Global Reports Fiscal Year 2022 Financial Results
Protecting migratory birds and their precious wetland habitat with AIoT technology
LightInTheBox Files 2022 Annual Report on Form 20-F
EaseUS Urges Everyone to Join World Backup Day and Follow the 3-2-1-1-0 Golden Backup Rule to Protect Data
Koo Promises Lifetime Free Verification for all Notable Personalities
JIECANG showcases new products at CIFF 2023, driving intelligent development in office furniture.
WiMi Develops Deep Learning-Based 3D Target Recognition Algorithm System
Wondershare Filmora 12 Integrated ChatGPT to Offer Swift Script Feature with AI Copywriting
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Polaris® Cuts the Cord
The NEW Polaris® FREEDOM™ Cordless Robotic Cleaner takes the kinks out of cleaning your pool SAN DIEGO, March 31, 2023 /PRNewswire/ -- On the heels of its 50th anniversary, Polaris, the leading manufacturer of automatic pool cleaners, introduces its latest innovation in robotic pool cleaners, Polaris FREEDOM—the first cordless robotic pool cleaner from the iconic brand. Cable-free and ready to clean from the floor to the waterline in 2.5 hours or less, Polaris FREEDOM is powered by a long-lasting lithium-ion battery; offering exceptional cordless cleaning performance and convenience for pool owners who prefer not to have a cable extending across their yard or a hose in the pool. Whether at home or away, the WiFi enabled Polaris FREEDOM connects with the iAquaLink® app—the industry's highest-rated pool equipment control app. The app provides charging status, specialized cleaning modes and sends push notifications that indicate when cleaning is complete, whereupon the cleaner will repeatedly climb to the surface for 10 minutes so it can be easily retrieved at different areas along the waterline. When retrieved within this timeframe, the Polaris FREEDOM provides additional convenience with lightweight removal from the pool with proprietary technology that enables water to quickly evacuate as it's pulled out of the pool. Featuring a selection of four cleaning modes, including floor only; floor, walls and waterline; waterline only; and Polaris' groundbreaking SMART Cycle mode which calculates the optimal cleaning time for a pool based on size, shape and surface, Polaris FREEDOM offers enhanced flexibility for cleaning when time is a factor. The Polaris FREEEDOM comes equipped with a convenient Easy-Charge Station where it can be neatly stored and recharged when not in use. Rated specifically for outdoor charging, this practical storage solution provides a safe and simple way to fully restore power in only four hours with direct contact charging—so there's nothing to plug into the cleaner itself, just place the cleaner in the cradle. "Polaris is committed to providing the ultimate in pool cleaning performance and convenience, and the Polaris FREEDOM is the perfect combination of both," Sarah Martin, product management for automatic pool cleaners at Fluidra. "With FREEDOM it's easy to maintain a spotless pool without the hassle of a cord. We believe that the Polaris FREEDOM can revolutionize the way people clean their pools." For more efficient cleaning and easy operation, the FREEDOM comes standard with Polaris' one-of-a-kind Double Helix brush design that enhances debris collection by channeling dirt towards the vacuum inlet as it scrubs a pool's surface, powerful Cyclonic Vacuum technology, and a large filter canister with a transparent lid. About FluidraFluidra is a publicly listed company focused on developing innovative products, services and IoT solutions for the residential and commercial pool markets, globally. The company operates in over 45 countries and owns a portfolio of some of the industry's most recognized and trusted brands, including Jandy®, Polaris®, S.R.Smith®, and Cover-Pools®. To learn more about Fluidra, visit fluidrausa.com or call 800-822-7933.
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NOVOSENSE isolation and driver technology enables SiC+800V in NEVs
SHANGHAI, March 31, 2023 /PRNewswire/ -- At present, emerging vehicles represented by new energy vehicles are rapidly replacing traditional fuel vehicles. Although new energy vehicles are becoming the choice of more people, there is no doubt that they still have pain points in consumer experience. One is inconvenient charging experience or slow charging speed, and the other is range anxiety. To expand the future market of new energy vehicles, it is necessary to start from the perspective of electrification efficiency, and the current important trend is to use 800V electrical architecture + SiC power devices, in which isolation and driver technology is indispensable. New trend of vehicle electrification The trend of vehicle electrification is first to develop high-voltage architecture, increasing charging power under the condition of increasing charging voltage and constant charging current, so as to achieve the goal of driving for 200 kilometers by charging for 5 minutes. At present, some domestic and foreign vehicle models have been using super charging pile, and 800V bus voltage has also been applied and mass produced for many models. Market research shows that by 2025, it is expected that the sales volume of new energy vehicles with 800V high-voltage architecture will reach about 1 million units, and the three-year CAGR (compound annual growth rate) will reach 270%; in 2025, global sales of new energy vehicles equipped with 800V architecture are expected to reach 2 million units. The second trend is the use of high-voltage SiC power devices; its advantage is that the third-generation semiconductor devices features high voltage, low on-off loss, small size and other advantages, helping to improve the electric drive efficiency, optimize the electric drive weight, and increase the range by 10%-15%. The above two trends put forward new and higher requirements for isolation IC and driver IC. Firstly, the voltage level of the battery, motor and electric control systems (including OBC, DC-DC and BMS) of 800V high-voltage platform, as well as the air compressor, PTC and electric driver will be increased accordingly. Isolation and driver technology in new energy vehicles Firstly, the isolation of new energy vehicles is based on safety certification requirements to protect personal and equipment safety at the 400V-800V battery voltage, and processors and other weak current devices also require isolation chip for electrical isolation from the high voltage side; the second is the common ground requirement, which needs to use the isolation device to realize the level conversion function; the third is high noise resistance requirements to achieve higher CMTI (common mode transient immunity), and avoid large noise interference, resulting in power tube mis-opening; in particular, the application of SiC can make the switching frequency rise, causing relatively large dv/dt noise. Creepage is also one of the requirements of the safety compliance, which represents the distance of the chip packaging surface to produce flashover or breakdown (marking). The common creepage distance in the high-voltage battery, motor and electric control system of new energy vehicles is the isolation device of 8mm. With the upgrading of the battery, motor and electric control system to 800V voltage, the creepage distance will also increase. In addition, the large peak output current requires to turn on the switch tube with larger current to meet the requirement of quick opening and closing the power tube. New energy vehicles rely on electric air compressors to drive, and main motor driver and PTC also require high voltage electrical isolation. At present, there are several mainstream isolation technologies in the industry, and NOVOSENSE adopts the capacitive isolation technology based on capacitance coupler. In a capacitor isolation chip, the isolation capacitors are located on two separate bare chips. Since it adopts superior enhanced isolation technology for electrical isolation, two capacitive plates are connected in series to achieve isolation in an enhanced architecture. The isolation medium between them is silicon dioxide, which is a kind of isolation medium with higher isolation strength. The withstand voltage of each micron isolation can reach more than 400V, which is 5-6 times of the isolation medium (epoxy resin) used by the optical coupler. Theoretically, the isolation grid with thickness of 30 microns can reach isolation voltage of more than 10kV. The measured 60-second withstand voltage can also reach the level of 12kV. In addition, capacitance-isolated differential transmission architecture per channel also helps to improve common-mode noise suppression. For common-mode suppression, modulation is needed, that is, an input signal is transmitted in a capacitor or other medium through modulation. The prevailing approach is usually to use OOK encoding, which modulates an input signal to more than 400 megabytes of carrier and then transmits it between capacitors. The patented Adaptive OOK coding scheme is optimized by NOVOSENSE, which further improves the capability of the isolator to resist common-mode noise. Compared with the other two approaches, OOK coding modulation has the advantage of strong resistance to common-mode suppression. NOVOSENSE products feature withstand voltage isolation capability of 12kVrms, EMC performance and surge of > 12kV and both-side capability of ESD > 10kV. These products have obtained UL/CUL/VDE/CQC and other mainstream safety compliance certification in the industry. NOVOSENSE provides digital isolation chips and isolation power supply, including isolation sampler, isolation driver, as well as some interface related products and automotive grade isolation devices, which are now in full mass production. The third-generation semiconductor has higher requirements for isolation devices. The switching frequency has been increased from 10kHz of silicon base to 100kHz of SiC, and the isolation voltage has been increased to more than 1000V. In addition, requirements of SiC devices on digital isolators are higher switching frequency and higher transmission rate with common mode inhibition ability of not less than 100kV/microsecond. NOVOSENSE isolation devices can reach 150kV or even 200kV. In the new-generation electric drive development platform, CMTI, wide grid voltage swing, large peak output current, fast rise and fall time, fast short circuit protection and soft shutdown ability are the key indicators to be considered when selecting suitable SiC power tube driver chips. NOVOSENSE system and product solutions In the application of NEV electric driver main motor driver, NOVOSENSE has mass-produced isolation drivers, including NSi6611 and NSi6651 intelligent protection enhanced isolation driver, as well as enhanced digital isolator and enhanced isolation sampler. In addition to the driver, it provides bus voltage or current isolation samplers NSi1311 and NSi1300 for the battery, motor and electric control system with relatively high market shares. NSi82xx is the earliest automotive grade digital isolation product launched by NOVOSENSE. It covers 1-6 channel schemes and adopts different packages, such as narrow body 8, wide body 8 and wide body 16, including ultra-wide body isolation devices that match 800V applications with a creepage distance of 15mm. In addition, there are some interface products such as the 1042, 1051, 1043 for CAN and the 1145 with sample to be ready soon. The main advantage of the enhanced isolation is the isolation of the operating voltage, with withstand voltage of 5,000V AC per minute. NSi82xx enhanced digital isolator is a hero product with nominal isolation voltage of 5000Vrms, measured withstand voltage of 12kV in the insulation oil, sufficient margin and relatively high reliability. Since the isolation operating voltage is applied to both ends of the isolation grid for a long period of 20 years or more, it is necessary to ensure that the failure rate of the isolator is less than 1 ppm. If it is basic isolation, this requirement is much looser, requiring failure rate of less than 1000 ppm, a difference of 1000 times. Meet the demand of auto manufacturers NOVOSENSE isolation and driver products are mainly used in OBC, DC-DC, main motor driver, BMS and thermal management system. The performance of its products are competitive in isolation and drive technology industry, with safe and reliable production supply chain in China. Mature product experience and sound intelligent production system are reflected in the AEC-Q100 qualification, and it has strictly followed the automotive grade process and control concept from product definition and development to the back-end wafer packaging.
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Vipshop Announces US$500 Million Share Repurchase Program
GUANGZHOU, China, March 31, 2023 /PRNewswire/ -- Vipshop Holdings Limited (NYSE: VIPS), a leading online discount retailer for brands in China ("Vipshop" or the "Company"), today announced that its board of directors has authorized a new share repurchase program under which the Company may repurchase up to US$500 million of its American depositary shares or Class A ordinary shares until the close of business on March 31, 2025, U.S. Eastern Time. The Company plans to adopt and implement this share repurchase program in accordance with applicable rules and requirements under the Securities Exchange Act of 1934, as amended, and the Company's insider trading policy. The Company's proposed repurchases may be made from time to time in the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. The timing and dollar amount of repurchase transactions will be subject to the Securities and Exchange Commission Rule 10b-18 and/or Rule 10b5-1 requirements. The Company's board of directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size. The Company expects to fund the repurchases out of its existing cash balance. About Vipshop Holdings Limited Vipshop Holdings Limited is a leading online discount retailer for brands in China. Vipshop offers high quality and popular branded products to consumers throughout China at a significant discount to retail prices. Since it was founded in August 2008, the Company has rapidly built a sizeable and growing base of customers and brand partners. For more information, please visit https://ir.vip.com/. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management as well as Vipshop's strategic and operational plans contain forward-looking statements. Vipshop may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Vipshop's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Vipshop's goals and strategies; Vipshop's future business development, results of operations and financial condition; the expected growth of the online discount retail market in China; Vipshop's ability to attract customers and brand partners and further enhance its brand recognition; Vipshop's expectations regarding needs for and market acceptance of flash sales products and services; competition in the discount retail industry; the potential impact of the COVID-19 to Vipshop's business operations and the economy in China and elsewhere generally; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Vipshop's filings with the SEC. All information provided in this press release is as of the date of this press release, and Vipshop does not undertake any obligation to update any forward-looking statement, except as required under applicable law. Investor Relations Contact Tel: +86 (20) 2233-0732Email: IR@vipshop.com
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Soul App Founder Zhang Lu comes second in J.P. Morgan's Top 100 Women-Powered, High-Growth Businesses in Asia Pacific
SHANGHAI, March 31, 2023 /PRNewswire/ -- In the inaugural Top 100 Women-Powered, High-Growth Businesses in Asia Pacific by J.P. Morgan, Soul App and its founder Ms. Zhang Lu were awarded second place. The investment bank's report celebrates the women founders, co-founders and C-suite executives at the fastest-growing private companies over the past year. After seven years of solid growth since Ms. Zhang single-handedly founded Soul App in 2016, it has become one of the most prominent social platforms and a star unicorn companies in China. In a media interview, Zhang said that "SOUL has committed itself to helping people connect with like-minded peers and secure a sense of belonging, something which everyone sometimes struggles to find offline. Driven by her persistence and leveraging innovations such as interest graph-based relationship building and gamification, SOUL has gained consistent traction with younger generations. While traditional social platforms commonly foster online connections on the basis of users' existing interpersonal networks, Gen-Z as true digital natives instead place weight on sharing life's ups and downs with other users with the same values, even if they were initially strangers. Inspired by this observation, Zhang soon realized that "no single product on the market enables users to speak their minds, share their unique life stories, or simply express the feeling of the moment without pressure and to receive immediate, meaningful feedback". Out of her vision, Soul App was born. Based on Zhang's penetrating insights on socialization needs specific to young digital natives, SOUL has set its core goals of "pressure-free communication" and "emotional resonance". To allow users to express themselves freely, the app has taken a multi-pronged approach to remove the pressure from socializing. For one, real portrait photos are not supported as SOUL users are encouraged to use avatars meticulously crafted by the platform or their peers in a way that reduces appearance anxiety. At the same time, the social platform has tapped into interest graphs and advanced algorithms to quickly introduce potential friends with shared values and hobbies to one another, allowing the forging of deeper connections without so much time and hassle. Capitalizing on gamification, Zhang and her team have made socializing more relaxing and engaging by adding new features such as "Anonymous Chitchats", "Bombing Cats", a cat-animated strategy card game, and real-time group chat. These innovative interactions have paved the way for an immersive social experience and a user stickiness boost, as evidenced by the latest data: SOUL records an average of 66.9 point-to-point messages per person daily, 31.5% of its monthly active users (MAUs) posting personal status, and 87% of MAUs communicating and interacting with other peers. All these continuous efforts have turbocharged SOUL's growth and set it apart from the competition to become one of the most valuable apps. With Zhang at its helm, SOUL's stellar ranking by J.P. Morgan suggests that the capital market recognizes Ms. Zhang Lu as an outstanding management leader and SOUL as a platform with rosy business prospects.
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CMI Launches iSolutions Partner Ecosystem Alliance
Helping global enterprises seek new opportunities as digitalization accelerates Bringing together partners in AI, blockchain, cloud, digital, network, edge, terminal, and security (ABCDNETS) HONG KONG, March 31, 2023 /PRNewswire/ -- China Mobile International Limited (CMI) successfully launched the iSolutions Partner Ecosystem Alliance in Hong Kong. By bringing together next-generation information technology partners in the fields of artificial intelligence (AI), blockchain, cloud, digital, network, edge, terminal, and security (ABCDNETS), the alliance aims to empower enterprises to accelerate digital transformation on a true "one-stop service" cooperation platform. CMI iSolutions Partner Ecosystem Alliance Launch Ceremony Delivering "Professional, Innovative, Win-win" solutions, CMI iSolutions has helped more than 7,000 enterprise customers digitally transform with one-stop customized services for 5G, cloud, Internet of Things, connectivity, and data centers, serving a wide range of verticals, including transportation and logistics, manufacturing, finance, Internet, and retail. Apart from driving innovation, CMI is also committed to deepening ecosystem collaboration in order to fully meet the diverse needs of enterprise customers. The launch of this new alliance marks yet another milestone as CMI continues to enrich the ecosystem and improve integration with partners' capabilities. To date, iSolutions has already partnered with more than 200 outstanding partners and industry leaders across the globe. The new alliance is set to upgrade the collaboration model from "1+1" partnerships to an "N+N" alliance mechanism. According to Dr. Li Feng, Chairman and CEO of China Mobile International Limited, the wave of digitalization is accelerating. CMI looks forward to joining hands with our ecosystem partners, based on the principles of openness, sharing, integration and innovation, to optimize supply to meet new customers' needs. We are committed to creating better digitalized services and solutions that exceed expectations, in order to enhance customers' competitiveness towards the future of innovation and the digital intelligence ocean. Dr. Li Feng, Chairman and CEO of CMI Under the theme of "A Stronger Partnership for a Brighter Future", the launch event gathered more than 180 senior executives from partner companies such as Alibaba Cloud, Amazon Web Services, Dahua Technology, Fortinet, HUAWEI CLOUD, Inspur, LightWAN, Tencent Cloud, Tuya Smart, and ZTE. The first partners to join the alliance span a broad range of technologies, from cloud, SD-WAN, IoT and 5G to security, edge, services, and more. They all have considerable technical strength, solid brand reputation, and rich industry experience. Moreover, the partners' open integration capabilities enable their offerings to be readily integrated with CMI's products and solutions, thereby meeting the diversified needs of enterprises in an all-round manner. With the official launch of the alliance, the ecosystem partners will collaborate in product innovation, integration, business expansion, resource sharing, long-term cooperation, and brand building. This will see them bring together capabilities and resources in products, solutions, services, and platforms, as well as marketing. Together, these capabilities will enable enterprises to expand seamlessly, whether they are growing in multiple markets globally, expanding internationally from China, or targeting growth in China as a foreign firm. Looking ahead, CMI will continue to expand its collaboration with upstream and downstream partners throughout the value chain, working closely with them to build an ecosystem that efficiently combines everyone's complementary strengths in a synergic manner. In doing so, CMI hopes to provide a wide spectrum of verticals with better access to digital intelligence. About China Mobile InternationalChina Mobile International (CMI) is a wholly owned subsidiary of China Mobile. Leveraging China Mobile's network scale and our abundant global resources, CMI provides a wide spectrum of comprehensive and high-quality international information services to customers and enterprises around the world. Based on a new information service system of "Connectivity + Computing Force + Ability", CMI continues to promote digital transformation and innovative development, and actively explores opportunities of digital economy based on services of connectivity, IDC, cloud computing, IoT etc.
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Xiaomi Presents its Customer Success Solutions with Xapads at the Game Developers Conference
SAN FRANCISCO, March 31, 2023 /PRNewswire/ -- Xiaomi's International Internet Business Department (IIB), the global strategic internet business arm of the Chinese smartphone company, presented its customer success solutions for game developers in collaboration with Xapads, a leading digital marketing platform at the Game Developers Conference (GDC) in San Francisco last week. Both parties revealed their competitive advantages in boosting user growth, offering a brand new and one-stop solution package for game developers. During the presentation, Qiang Song, Senior Director of Commercial, IIB, introduced the overall services of MIUI, Xiaomi's operating interface based on Android. Qiang particularly highlighted that GetApps, Xiaomi's own app distribution channel on MIUI, will make another important step toward achieving global coverage by expanding to 28 markets worldwide this year. GetApps was initially launched in 8 markets and has acquired over 150 million monthly active users (MAU) to date. Its efficiency in distributing applications as well as its huge potential for growth has been recognized by many industry insiders. Following Qiang, Bono Wu, Director of Channel Partnership at IIB, explained how IIB's customers can engage users in the entire lifecycle with IIB's marketing solution. IIB can easily help customers to build a user base on the scale with factory preload, or drive user acquisition with air preload. The MIUI ecosystem also provides a high-quality traffic matrix through its system shortcuts and system apps. When it comes to user engagement scenarios, MIUI supports diverse advertisement formats including native ads, icons, banners, rewards videos, pop-up ads, splash screens, CTV branding ads, Mi Message, app vault, and wallpapers. The highly customized digital marketing solutions will fulfill the unique marketing needs of different advertisers, helping them to achieve great ROI performance. Bono shared some successful case studies during the presentation. For instance, IIB once cooperated with a hardcore game. By leveraging preload while targeting potential paying users with UA ads, the daily added users for this game reached over 20,000, the total daily active users surpassed 1.2 million, and the daily revenue increased by 5 times MoM. From the digital marketing agency's perspective, Nitin Gupta, Founder & CEO of Xapads Media, said that Xiaomi determines in-built features and the services of its mobile devices as an OEM (original equipment manufacturer), thus being able to offer a very competitive advertising platform. With OEMs, especially Xiaomi, Xapads helped an online game platform customer to gain 11.7 million clicks and over 217,000 installs. For another game platform customer, Xapads and Xiaomi generated 22.4 million clicks and 5.3 million installs, and the signup rate and first deposit rate were also significantly increased. Xiaomi's international internet business is powered by the company's sizable user base. According to Xiaomi's 2022 Annual Results Announcement, in December 2022, the MAU of MIUI reached approximately 582 million globally. Xiaomi's IIB recently announced its "Go Global" strategy for the year 2023 at Mobile World Congress in Barcelona, aiming to expand its cooperative relationships with global partners and offer new business opportunities for developers. About Xiaomi Corporation Xiaomi Corporation was founded in April 2010 and listed on the Main Board of the Hong Kong Stock Exchange on July 9, 2018 (1810.HK). Xiaomi is a consumer electronics and smart manufacturing company with smartphones and smart hardware connected by an IoT platform at its core. Embracing our vision of "Make friends with users and be the coolest company in the users' hearts", Xiaomi continuously pursues innovations, high-quality user experience and operational efficiency. The company relentlessly builds amazing products with honest prices to let everyone in the world enjoy a better life through innovative technology. Xiaomi is one of the world's leading smartphone companies. According to Canalys, the company's market share in terms of smartphone shipments ranked No. 3 globally in 2022. The company has also established the world's leading consumer AIoT (AI+IoT) platform, with 589 million smart devices connected to its platform as of December 31, 2022, excluding smartphones, tablets and laptops. Xiaomi products are present in more than 100 countries and regions around the world. In August 2022, the company made the Fortune Global 500 list for the fourth time, ranking #266, up 72 places compared to 2021. Xiaomi is a constituent of the Hang Seng Index, Hang Seng China Enterprises Index, Hang Seng TECH Index and Hang Seng China 50 Index. For more information about Xiaomi as a company, please visit https://www.mi.com/global/discover/newsroom
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iHuman Inc. Announces Fourth Quarter and Fiscal Year 2022 Unaudited Financial Results
BEIJING, March 31, 2023 /PRNewswire/ -- iHuman Inc. (NYSE: IH) ("iHuman" or the "Company"), a leading provider of tech-powered, intellectual development products in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2022. Fourth Quarter 2022 Highlights Revenues reached a record-high of RMB260.7 million (US$37.8 million), compared with RMB237.8 million in the same period last year. Gross profit was RMB181.0 million (US$26.2 million), compared with RMB164.9 million in the same period last year. Operating income was RMB39.1 million (US$5.7 million), a remarkable turnaround compared with an operating loss of RMB10.6 million in the same period last year. Adjusted operating income[1] was RMB44.2 million (US$6.4 million), a remarkable turnaround compared with an adjusted operating loss of RMB9.0 million in the same period last year. Net income was RMB35.4 million (US$5.1 million), a remarkable turnaround compared with a net loss of RMB7.9 million in the same period last year. Adjusted net income[1] was RMB40.5 million (US$5.9 million), a remarkable turnaround compared with an adjusted net loss of RMB6.4 million in the same period last year. Average total MAUs[2] reached a record-high of 22.22 million, a year-over-year increase of 35.9%. Number of paying users[3] reached a record-high of 1.75 million, a year-over-year increase of 23.9%. Fiscal Year 2022 Highlights Revenues were RMB985.5 million (US$142.9 million), compared with RMB944.7 million in fiscal year 2021. Gross profit was RMB691.2 million (US$100.2 million), compared with RMB660.6 million in fiscal year 2021. Operating income was RMB111.6 million (US$16.2 million), a remarkable turnaround compared with an operating loss of RMB54.2 million in fiscal year 2021. Adjusted operating income was RMB124.6 million (US$18.1 million), a remarkable turnaround compared with an adjusted operating loss of RMB39.1 million in fiscal year 2021. Net income was RMB109.8 million (US$15.9 million), a remarkable turnaround compared with a net loss of RMB37.1 million in fiscal year 2021. Adjusted net income was RMB122.9 million (US$17.8 million), a remarkable turnaround compared with an adjusted net loss of RMB21.9 million in fiscal year 2021. Average total MAUs for fiscal year 2022 were 19.86 million. Number of paying users for fiscal year 2022 was 4.75 million. [1] "Adjusted operating income (loss)" and "adjusted net income (loss)" exclude share-based compensation expenses. Please see "Non-GAAP Financial Measures" and "Unaudited Reconciliation of GAAP and non-GAAP Results" at the end of this press release. [2] "Average total MAUs" refers to the monthly average of the sum of the MAUs of each of the Company's apps during a specific period, which is counted based on the number of unique mobile devices through which such app is accessed at least once in a given month, and duplicate access to different apps is not eliminated from the total MAUs calculation. [3] "Paying users" refers to users who paid subscription fees for premium content on any of the Company's apps during a specific period; a user who makes payments across different apps using the same registered account is counted as one paying user, and a user who makes payments for the same app multiple times in the same period is counted as one paying user. Dr. Peng Dai, Director and Chief Executive Officer of iHuman, commented, "We are thrilled to close out 2022 on a high note, especially given the challenging operating environment for companies globally. Our fourth quarter revenues reached an all-time high, and our bottom line remained solid. Essential to our robust financial performance was the continuous improvement of our industry-leading product offerings. In the quarter, we continued to invest in product enhancements and new verticals to better serve our users' needs across markets. In our international markets, we made further inroads with the launch of Aha World, an open-ended interactive app for kids to explore and engage in fantasy world adventures. As a brand-new product developed specifically for international markets, Aha World aims to inspire creativity and imagination by offering kids a highly immersive digital experience with diverse themes and captivating features. So far, we have rolled out themes such as "Dino Land", "Ocean World" and "Winter Land", each offering an open-ended virtual space where kids can let their imagination run wild as they create their own characters, interact with props, create their own storylines with realistic sound effects, and more. Domestically, we continued to expand our content library and diversify our content formats to provide a more dynamic user experience. For example, for the iHuman Little Artists app, we rolled out Magic Coloring Box, an offline feature that can be used side-by-side with the mobile app to create an integrated online-offline experience. Powered by our industry-leading AI technologies, the enhanced app can bring kids' artwork to life by turning it into an animation with a single snapshot, and allowing kids to interact with their on-screen creations, dragging and dropping them into different scenarios, and creating unique stories. Moving forward, we will remain laser-focused on executing our product-driven strategy to optimize our user experience, deliver long-term value for our consumers and drive the sustainable growth of our business." Ms. Vivien Weiwei Wang, Director and Chief Financial Officer of iHuman, added, "We are excited to report another robust quarter, reaching several new record-highs during the period. We delivered all-time high revenues of RMB260.7 million in the fourth quarter, representing an increase of 9.6% year-over-year. This result reflects the strong appeal of our diversified portfolio and the solid execution capabilities of our team. More importantly, we achieved our fourth consecutive quarter of profitability during the year. Our Fourth quarter operating income reached a record-high, and net income reached RMB35.4 million, a remarkable turnaround from the same period last year. The sustained improvement in profitability also resulted in our first annual profit since our initial public offering in 2020. In addition, we maintained a strong balance sheet and healthy operating cash flow, with cash and cash equivalents exceeding RMB1 billion as of the year end. This provides us with the means and flexibility to invest in technological and product innovation and pursue attractive opportunities to propel our continued growth. On the user front, we saw notable expansion in the scale of our communities. Our average total MAUs continued on an upward trajectory, hitting another record high of 22.22 million, an increase of 35.9% year-over-year. This reflects the effective execution of our user acquisition strategy. As we enter the new year, we have a demonstrated track record of delivering on our objectives and the confidence to build upon the momentum we achieved in 2022. Looking ahead, we will continue to invest in key strategic initiatives while maintaining our financial discipline and operational excellence." Fourth Quarter 2022 Unaudited Financial Results Revenues Revenues were RMB260.7 million (US$37.8 million), an increase of 9.6% from RMB237.8 million in the same period last year, primarily driven by user expansion and enhanced user engagement. Average total MAUs for the quarter were 22.22 million, an increase of 35.9% year-over-year from 16.35 million in the same period last year. The number of paying users was 1.75 million. Cost of Revenues Cost of revenues was RMB79.7 million (US$11.6 million), an increase of 9.3% from RMB72.9 million in the same period last year, primarily due to an increase in channel costs, which was in line with the Company's revenue expansion. Gross Profit and Gross Margin Gross profit was RMB181.0 million (US$26.2 million), an increase of 9.8% from RMB164.9 million in the same period last year. Gross margin was 69.4%, compared with 69.3% in the same period last year. Operating Expenses Total operating expenses were RMB141.9 million (US$20.6 million), a decrease of 19.2% from RMB175.5 million in the same period last year. Research and development expenses were RMB66.8 million (US$9.7 million), a decrease of 38.8% from RMB109.1 million in the same period last year, primarily due to payroll-related cost savings and decreased outsourcing expenses. Sales and marketing expenses were RMB45.8 million (US$6.6 million), an increase of 25.0% from RMB36.7 million in the same period last year, primarily due to increased strategic investments in seasonal promotional activities. General and administrative expenses were RMB29.3 million (US$4.2 million), a decrease of 1.7% from RMB29.8 million in the same period last year. Operating Income Operating income was RMB39.1 million (US$5.7 million), compared with an operating loss of RMB10.6 million in the same period last year. Excluding share-based compensation expenses, adjusted operating income was RMB44.2 million (US$6.4 million), compared with an adjusted operating loss of RMB9.0 million in the same period last year. Net Income Net income was RMB35.4 million (US$5.1 million), compared with a net loss of RMB7.9 million in the same period last year. Adjusted net income was RMB40.5 million (US$5.9 million), compared with an adjusted net loss of RMB6.4 million in the same period last year. Basic and diluted net income per ADS were RMB0.67 (US$0.10) and RMB0.66 (US$0.10), respectively, compared with basic and diluted net loss per ADS of RMB0.15 in the same period last year. Each ADS represents five Class A ordinary shares of the Company. Adjusted diluted net income per ADS was RMB0.75 (US$0.11), compared with an adjusted diluted net loss per ADS of RMB0.12 in the same period last year. Deferred Revenue and Customer Advances Deferred revenue and customer advances were RMB379.1 million (US$55.0 million) as of December 31, 2022, compared with RMB303.0 million as of December 31, 2021. Cash and Cash Equivalents Cash and cash equivalents were RMB1,050.0 million (US$152.2 million) as of December 31, 2022, compared with RMB855.4 million as of December 31, 2021. Fiscal Year 2022 Unaudited Financial Results Revenues Revenues were RMB985.5 million (US$142.9 million), an increase of 4.3% from RMB944.7 million in fiscal year 2021. Average total MAUs were 19.86 million, an increase of 21.1% year-over-year from 16.40 million in fiscal year 2021. The number of paying users for the year was 4.75 million. Cost of Revenues Cost of revenues was RMB294.3 million (US$42.7 million), an increase of 3.6% from RMB284.1 million in fiscal year 2021. Gross Profit and Gross Margin Gross profit was RMB691.2 million (US$100.2 million), an increase of 4.6% from RMB660.6 million in fiscal year 2021. Gross margin was 70.1%, compared with 69.9% in fiscal year 2021. Operating Expenses Total operating expenses were RMB579.6 million (US$84.0 million), a decrease of 18.9% from RMB714.9 million in fiscal year 2021. Research and development expenses were RMB313.5 million (US$45.5 million), a decrease of 24.5% from RMB415.3 million in fiscal year 2021, primarily due to payroll-related cost savings and decreased outsourcing expenses. Sales and marketing expenses were RMB156.9 million (US$22.8 million), a decrease of 22.4% from RMB202.1 million in fiscal year 2021, primarily due to a cost-effective and optimized advertising strategy. General and administrative expenses were RMB109.2 million (US$15.8 million), an increase of 12.1% from RMB97.4 million in fiscal year 2021, primarily due to expenses related to upgrading the Company's corporate governance and compliance structure as a publicly listed company. Operating Income Operating income was RMB111.6 million (US$16.2 million), compared with an operating loss of RMB54.2 million in fiscal year 2021. Excluding share-based compensation expenses, adjusted operating income was RMB124.6 million (US$18.1 million), compared with an adjusted operating loss of RMB39.1 million in fiscal year 2021. Net Income Net income was RMB109.8 million (US$15.9 million), compared with a net loss of RMB37.1 million in fiscal year 2021. Adjusted net income was RMB122.9 million (US$17.8 million), compared with an adjusted net loss of RMB21.9 million in fiscal year 2021. Basic and diluted net income per ADS were RMB2.06 (US$0.30) and RMB2.03 (US$0.29), respectively, compared with basic and diluted net loss per ADS of RMB0.69 in fiscal year 2021. Each ADS represents five Class A ordinary shares of the Company. Adjusted diluted net income per ADS was RMB2.27 (US$0.33), compared with an adjusted diluted net loss per ADS of RMB0.41 in fiscal year 2021. Exchange Rate Information The U.S. dollar (US$) amounts disclosed in this press release, except for those transaction amounts that were actually settled in U.S. dollars, are presented solely for the convenience of the reader. The conversion of Renminbi (RMB) into US$ in this press release is based on the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of December 30, 2022, which was RMB6.8972 to US$1.00. The percentages stated in this press release are calculated based on the RMB amounts. Non-GAAP Financial Measures iHuman considers and uses non-GAAP financial measures, such as adjusted operating income (loss), adjusted net income (loss) and adjusted diluted net income (loss) per ADS, as supplemental metrics in reviewing and assessing its operating performance and formulating its business plan. The presentation of non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). iHuman defines adjusted operating income (loss), adjusted net income (loss) and adjusted diluted net income (loss) per ADS as operating income (loss), net income (loss) and diluted net income (loss) per ADS excluding share-based compensation expenses, respectively. Adjusted operating income (loss), adjusted net income (loss) and adjusted diluted net income (loss) per ADS enable iHuman's management to assess its operating results without considering the impact of share-based compensation expenses, which are non-cash charges. iHuman believes that these non-GAAP financial measures provide useful information to investors in understanding and evaluating the Company's current operating performance and prospects in the same manner as management does, if they so choose. Non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. Non-GAAP financial measures have limitations as analytical tools, which possibly do not reflect all items of expense that affect our operations. Share-based compensation expenses have been and may continue to be incurred in our business and are not reflected in the presentation of the non-GAAP financial measures. In addition, the non-GAAP financial measures iHuman uses may differ from the non-GAAP measures used by other companies, including peer companies, and therefore their comparability may be limited. The presentation of these non-GAAP financial measures is not intended to be considered in isolation from or as a substitute for the financial information prepared and presented in accordance with GAAP. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States 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. Statements that are not historical facts, including statements about iHuman's beliefs and expectations, are forward-looking statements. Among other things, the description of the management's quotations in this announcement contains forward-looking statements. iHuman may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials, and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: iHuman's growth strategies; its future business development, financial condition and results of operations; its ability to continue to attract and retain users, convert non-paying users into paying users and increase the spending of paying users, the trends in, and size of, the market in which iHuman operates; its expectations regarding demand for, and market acceptance of, its products and services; its expectations regarding its relationships with business partners; general economic and business conditions; regulatory environment; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in iHuman's filings with the SEC. All information provided in this press release is as of the date of this press release, and iHuman does not undertake any obligation to update any forward-looking statement, except as required under applicable law. About iHuman Inc. iHuman Inc. is a leading provider of tech-powered, intellectual development products in China that is committed to making the child-rearing experience easier for parents and transforming cognitive development into a fun journey for children. Benefiting from a deep legacy that combines over two decades of experience in the parenthood industry, superior original content, advanced high-tech innovation DNA and research & development capabilities with cutting-edge technologies, iHuman empowers parents with tools to make the child-upbringing experience more efficient. iHuman's unique, fun and interactive product offerings stimulate children's natural curiosity and exploration. The Company's comprehensive suite of innovative and high-quality products include self-directed apps, interactive content and smart devices that cover a broad variety of areas to develop children's abilities in speaking, critical thinking, independent reading and creativity, and foster their natural interest in traditional Chinese culture. Leveraging advanced technological capabilities, including 3D engines, AI/AR functionality, and big data analysis on children's behavior & psychology, iHuman believes it will continue to provide superior experience that is efficient and relieving for parents, and effective and fun for children, in China and all over the world, through its integrated suite of tech-powered, intellectual development products. For more information about iHuman, please visit https://ir.ihuman.com/. For investor and media enquiries, please contact: iHuman Inc.Mr. Justin ZhangInvestor Relations DirectorPhone: +86 10 5780-6606E-mail: ir@ihuman.com ChristensenIn ChinaMr. Eric YuanPhone: +86-13801110739E-mail: eric.yuan@christensencomms.com In the USMs. Linda BergkampPhone: +1-480-614-3004E-mail: linda.bergkamp@christensencomms.com iHuman Inc. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands of Renminbi ("RMB") and U.S. dollars ("US$") except for number of shares, ADSs, per share and per ADS data) December 31, December 31, December 31, 2021 2022 2022 RMB RMB US$ ASSETS Current assets Cash and cash equivalents 855,362 1,049,999 152,236 Accounts receivable, net 56,132 79,614 11,543 Inventories, net 28,054 19,127 2,773 Amounts due from related parties 2,845 2,286 331 Prepayments and other current assets 72,851 102,765 14,900 Total current assets 1,015,244 1,253,791 181,783 Non-current assets Property and equipment, net 12,286 9,205 1,335 Intangible assets, net 27,287 24,872 3,606 Operating lease right-of-use assets 38,237 12,782 1,853 Long-term investment - 26,333 3,818 Amounts due from related parties 4,223 - - Other non-current assets 3,604 6,416 931 Total non-current assets 85,637 79,608 11,543 Total assets 1,100,881 1,333,399 193,326 LIABILITIES Current liabilities Accounts payable 30,536 24,206 3,510 Deferred revenue and customer advances 302,980 379,063 54,959 Amounts due to related parties 8,853 6,944 1,007 Accrued expenses and other current liabilities 115,895 144,717 20,982 Current operating lease liabilities 24,669 6,123 888 Total current liabilities 482,933 561,053 81,346 Non-current liabilities Non-current operating lease liabilities 9,577 2,894 420 Total non-current liabilities 9,577 2,894 420 Total liabilities 492,510 563,947 81,766 SHAREHOLDERS' EQUITY Ordinary shares (par value of US$0.0001 per share, 700,000,000 Class A shares authorized as of December 31, 2021 and December 31, 2022; 125,122,382 Class A shares issued and 123,852,667 outstanding as of December 31, 2021; 125,122,382 Class A shares issued and 121,722,467 outstanding as of December 31, 2022; 200,000,000 Class B shares authorized, 144,000,000 Class B ordinary shares issued and outstanding as of December 31, 2021 and December 31, 2022; 100,000,000 shares (undesignated) authorized, nil shares (undesignated) issued and outstanding as of December 31, 2021 and December 31, 2022) 185 185 27 Additional paid-in capital 1,066,052 1,079,099 156,455 Treasury stock (164) (7,123) (1,033) Statutory reserves 606 7,967 1,155 Accumulated other comprehensive income (loss) (34,677) 10,497 1,522 Accumulated deficit (423,631) (321,173) (46,566) Total shareholders' equity 608,371 769,452 111,560 Total liabilities and shareholders' equity 1,100,881 1,333,399 193,326 iHuman Inc. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Amounts in thousands of Renminbi ("RMB") and U.S. dollars ("US$") except for number of shares, ADSs, per share and per ADS data) For the three months ended For the year ended December 31, September 30, December 31, December 31, December 31, December 31, December 31, 2021 2022 2022 2022 2021 2022 2022 RMB RMB RMB US$ RMB RMB US$
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PatSnap's Eureka Launches TechDNA, Streamlining the Innovation Process for R&D Teams
LONDON, March 31, 2023 /PRNewswire/ -- PatSnap, the leading provider of innovation intelligence solutions, has released a TechDNA update for its new product Eureka, designed to help R&D teams streamline the innovation process. TechDNA is an exclusive technology that uses advanced AI to extract technical insights such as problems, solutions, methods, and summaries of inventions from documents. This advanced technology enables R&D teams to validate and review their ideas more efficiently, making the innovation process faster and more accurate. With Eureka's TechDNA technology, the language gap is closed between IP and R&D teams, resulting in more seamless collaboration. In addition, R&D teams can customize competitor and technology monitoring, make better predictions of technology areas and their development, and save significant time and resources. "We're excited to launch the TechDNA update for Eureka, as we know how valuable technical insights are to R&D teams. It is important to us that this powerful technology is available to our users for free," said Jeffrey Tiong, Founder and CEO of PatSnap. Eureka's TechDNA update is now available at eureka.patsnap.com. For more information, visit our website. Eureka uses AI technology to extract technical information from patents so users can analyze and identify technical insights in a fraction of the time. About PatSnap: Founded in 2007, PatSnap is the company behind the world's leading AI-powered innovation intelligence platform. PatSnap provides global businesses with a connected, easy-to-use platform that helps them make better decisions in the innovation process. Customers are innovators across multiple industry sectors, including agriculture and chemicals, consumer goods, food and beverage, life sciences, automotive, oil and gas, professional services, aviation and aerospace, and education. To learn more about how PatSnap streamlines innovation from concept to commercialization, visit www.patsnap.com.
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WIZ.AI launches TalkGPT, ASEAN's first ChatGPT-powered customer engagement solution for business
SINGAPORE, March 31, 2023 /PRNewswire/ -- WIZ.AI, a global leader in AI-powered customer engagement solutions, launches TalkGPT, ASEAN's first generative AI-enabled omnichannel solution for customer engagement. Designed to revolutionize customer outreach across industries, TalkGPT leverages ChatGPT's large language model and WIZ.AI's localized expertise, providing a smooth, omnichannel conversational experience. WIZ.AI launches TalkGPT, ASEAN's first generative AI-enabled omnichannel solution for customer engagement TalkGPT is a self-service solution where users can create, test and deploy a ChatGPT-powered WIZ.AI Talkbot within 5 minutes. Campaigns can be implemented in just a few clicks. TalkGPT automatically generates dynamic call conversations and WhatsApp messages. The designed campaign communications are then delivered by the WIZ.AI Talkbot, the company's flagship solution that understands and responds to customers' responses just like human agents. These optimized customer engagements, based on proven practices that are informed by the ChatGPT language model, deliver persuasive and emotionally-tuned messages. The result is a more engaging conversational experience for end users and customers. Because it is built on the foundation of WIZ.AI's platform, TalkGPT can engage with over 1 million customers in just 1 hour. This makes TalkGPT a viable go-to solution for large-scale customer growth efforts. With TalkGPT, companies of any size can quickly engage with customers through various channels, leading to timely customer interactions and improved ROI. Key to TalkGPT's accessibility to all kinds of businesses is its entirely self-service process of ideating, iterating, and implementing customer engagement campaigns. In a few clicks, TalkGPT enables users to design dialogues for customer conversations that can be facilitated using WIZ.AI's Talkbot solution that understands and responds to customers' responses just like human agents. New tech, same mission: revolutionizing customer engagement for businesses "The technologies used may evolve rapidly as we see today with ChatGPT, but ultimately we are still focused on the same mission: offering businesses innovative ways to engage with customers through AI, solutions that can enhance efficiency, drive growth, and deliver an elevated customer experience." shares Jennifer Zhang, CEO and co-founder of WIZ.AI. "Now everyone can be their own CMO. TalkGPT unlocks new content ideas and channels to reach their target customers." In Southeast Asia, there is a significant market potential for solutions like TalkGPT, as businesses seek to adopt more efficient and cost-effective ways of engaging with customers. With this latest customer engagement solution tucked into its portfolio, WIZ.AI is poised to further expand its reach and impact in the region. Many of WIZ.AI's clients have already experienced up to 40% increase in engagement rates and 5.3x higher cost efficiencies from the WIZ.AI flagship Talkbot solution. Many of these businesses have plans to deploy WIZ.AI products to other business units and develop further use cases. The possibilities for TalkGPT are numerous, with use cases ranging from promoting products and services to sending timely reminders to customers. For instance, businesses can use TalkGPT to announce promotional campaigns, new product launches, and other marketing initiatives. The solution can also send personalized and timely reminders to customers, reducing missed payments and appointments. Moreover, TalkGPT can also be used to send secure one-time passcodes via phone calls or messages, based on customer preferences. About WIZ.AI WIZ.AI, a global leader in AI-powered omnichannel customer engagement solutions, is revolutionizing B2C communication through its portfolio of products that bring hyper-personalized, human-like interactions to businesses of any size. Its flagship product, the Talkbot, excels in listening, understanding, and communicating like a local, with 95% of users unable to distinguish it from human communication. The advanced platform captures unstructured call data, digitizing and analyzing all customer engagement information. Its dashboard provides in-depth insights into the customer journey, helping businesses optimize data-driven customer engagement and enhance personalized experiences through advanced analytics. With over 200 clients across 13 nations, WIZ.AI caters to a wide range of industries; Fortune 500 companies and unicorn start-ups account for 60% of its clientele. WIZ.AI's latest addition to its suite of solutions is TalkGPT, ASEAN's first generative AI-enabled omnichannel customer engagement solution. Learn more how businesses can leverage this 100% self-service solution to rapidly ideate, iterate, and implement customer engagement campaigns in just a few clicks.
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X Financial Reports Fourth Quarter and Fiscal Year 2022 Unaudited Financial Results
SHENZHEN, China, March 31, 2023 /PRNewswire/ -- X Financial (NYSE: XYF) (the "Company" or "we"), a leading online personal finance company in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2022. Fourth Quarter and Fiscal Year 2022 Operational Highlights Three Months Ended December 31, 2021 Three Months Ended September 30, 2022 Three Months Ended December 31, 2022 Twelve Months Ended December 31, 2021 Twelve Months Ended December 31, 2022 QoQ YoY YoY Total loan facilitation amount (RMB in million) 13,084 19,825 21,700 9.5 % 65.9 % 51,859 73,655 42.0 % Number of active borrowers 710,048 1,415,059 1,370,496 (3.1 %) 93.0 % 2,371,537 3,326,774 40.3 % The total loan amount facilitated and originated[1] in the fourth quarter of 2022 was RMB21,700 million, representing an increase of 65.9% from RMB13,084 million in the same period of 2021. The total loan amount facilitated and originated in 2022 was RMB73,655 million, representing an increase of 42.0% from RMB51,859 million in 2021. Total number of active borrowers[2] was 1,370,496 in the fourth quarter of 2022, representing an increase of 93.0% from 710,048 in the same period of 2021. Total number of active borrowers was 3,326,774 in 2022, representing an increase of 40.3% from 2,371,537 in 2021. As of December 31, 2021 As of September 30, 2022 As of December 31, 2022 Total outstanding loan balance (RMB in million) 24,912 33,789 37,992 Delinquency rates for all outstanding loans that are past due for 31-60 days 1.48 % 0.77 % 1.02 % Delinquency rates for all outstanding loans that are past due for 91-180 days 2.62 % 2.22 % 1.93 % The total outstanding loan balance[3] as of December 31, 2022 was RMB37,992 million, compared with RMB24,912 million as of December 31, 2021. The delinquency rate for all outstanding loans that are past due for 31-60 days[4] as of December 31, 2022 was 1.02%, compared with 1.48% as of December 31, 2021. The delinquency rate for all outstanding loans that are past due for 91-180 days[5] as of December 31, 2022 was 1.93%, compared with 2.62% as of December 31, 2021. [1] Represents the total amount of loans that the Company facilitated and originated during the relevant period. [2] Represents borrowers who made at least one transaction on the Company's platform during the relevant period. [3] Represents the total amount of loans outstanding for loans that the Company facilitated and originated at the end of the relevant period. Loans that are delinquent for more than 60 days are charged-off and are excluded in the outstanding loan balance, except for Xiaoying Housing Loan. As Xiaoying Housing Loan is a secured loan product and the Company is entitled to payment by exercising its rights to the collateral, the Company does not exclude Xiaoying Housing loan delinquent for more than 60 days in the outstanding loan balance. [4] Represents the balance of the outstanding principal and accrued outstanding interest for loans that were 31 to 60 days past due as a percentage of the total balance of outstanding principal and accrued outstanding interest for loans that the Company facilitated and originated as of a specific date. Loans that are delinquent for more than 60 days are charged-off and excluded in the calculation of delinquency rate by balance. Xiaoying Housing Loan was launched in 2015 and ceased in 2019, and all the outstanding loan balance of housing loan as of December 31, 2021, September 30, 2022 and December 31, 2022 were overdue more than 60 days. To make the delinquency rate by balance comparable, the Company excludes Xiaoying Housing Loan in the calculation of delinquency rate. [5] To make the delinquency rate by balance comparable to the peers, the Company also defines the delinquency rate as the balance of the outstanding principal and accrued outstanding interest for loans that were 91 to 180 days past due as a percentage of the total balance of outstanding principal and accrued outstanding interest for the loans that the Company facilitated and originated as of a specific date. Loans that are delinquent for more than 180 days are excluded in the calculation of delinquency rate by balance, except for Xiaoying Housing Loan. All the outstanding loan balance of housing loan as of December 31, 2021, September 30, 2022 and December 31, 2022 were overdue more than 180 days. To make the delinquency rate by balance comparable, the Company excludes Xiaoying Housing Loan in the calculation of delinquency rate. Fourth Quarter 2022 Financial Highlights Three Months Ended December 31, (In thousands, except for share and per share data) 2021 2022 2022 YoY RMB RMB USD Total net revenue 823,398 955,640 138,554 16.1 % Total operating costs and expenses (511,824) (681,687) (98,836) 33.2 % Income from operations 311,574 273,953 39,718 (12.1 %) Net income 145,521 274,639 39,816 88.7 % Non-GAAP adjusted net income 182,950 277,939 40,294 51.9 % Net income per ADS—basic 2.64 5.28 0.77 100.0 % Net income per ADS—diluted 2.58 5.16 0.75 100.0 % Non-GAAP adjusted net income per ADS—basic 3.30 5.34 0.77 61.8 % Non-GAAP adjusted net income per ADS—diluted 3.24 5.22 0.76 61.1 % Total net revenue in the fourth quarter of 2022 was RMB955.6 million (US$138.6 million), representing an increase of 16.1% from RMB823.4 million in the same period of 2021. Income from operations in the fourth quarter of 2022 was RMB274.0 million (US$39.7 million), compared with RMB311.6 million in the same period of 2021. Net income in the fourth quarter of 2022 was RMB274.6 million (US$39.8 million), compared with RMB145.5 million in the same period of 2021. Non-GAAP[6] adjusted net income in the fourth quarter of 2022 was RMB277.9 million (US$40.3 million), compared with RMB183.0 million in the same period of 2021. Net income per basic and diluted American depositary share ("ADS")[7] in the fourth quarter of 2022 was RMB5.28 (US$0.77) and RMB5.16 (US$0.75), compared with RMB2.64 and RMB2.58, respectively, in the same period of 2021. Non-GAAP adjusted net income per basic and adjusted diluted ADS in the fourth quarter of 2022 was RMB5.34 (US$0.77) and RMB5.22 (US$0.76), compared with RMB3.30 and RMB3.24, respectively, in the same period of 2021. [6] The Company uses in this press release the following non-GAAP financial measures: (i) adjusted net income (loss), (ii) adjusted net income (loss) per basic ADS, and (iii) adjusted net income (loss) per diluted ADS, each of which excludes share-based compensation expense, impairment losses on financial investments, income (loss) from financial investments and impairment losses on long-term investments. For more information on non-GAAP financial measure, please see the section of "Use of Non-GAAP Financial Measures Statement" and the table captioned "Unaudited Reconciliations of GAAP and Non-GAAP Results" set forth at the end of this press release. [7] Each American depositary share ("ADS") represents six Class A ordinary shares. On November 19, 2020, a ratio change that has the same effect as a 1-for-3 reverse ADS split took effect, and as a result, one ADS currently represents six Class A ordinary shares. Fiscal Year 2022 Financial Highlights Twelve Months Ended December 31, (In thousands, except for share and per share data) 2021 2022 2022 YoY RMB RMB USD Total net revenue 3,626,465 3,562,950 516,579 (1.8 %) Total operating costs and expenses (2,315,422) (2,480,657) (359,663) 7.1 % Income from operations 1,311,043 1,082,293 156,916 (17.4 %) Net income 825,407 811,995 117,727 (1.6 %) Non-GAAP adjusted net income 913,842 873,658 126,667 (4.4 %) Net income per ADS—basic 15.06 15.42 2.24 2.4 % Net income per ADS—diluted 14.70 15.12 2.19 2.9 % Non-GAAP adjusted net income per ADS—basic 16.68 16.56 2.40 (0.7 %) Non-GAAP adjusted net income per ADS—diluted 16.26 16.26 2.36 0.0 % Total net revenue in 2022 was RMB3,563.0 million (US$516.6 million), representing a decrease of 1.8% from RMB3,626.5 million in 2021. Income from operations in 2022 was RMB1,082.3 million (US$156.9 million), compared with RMB1,311.0 million in 2021. Net income in 2022 was RMB812.0 million (US$117.7 million), compared with RMB825.4 million in 2021. Non-GAAP adjusted net income in 2022 was RMB873.7 million (US$126.7 million), compared with RMB913.8 million in 2021. Net income per basic and diluted American depositary share ("ADS") in 2022 was RMB15.42 (US$2.24) and RMB15.12 (US$2.19), compared with RMB15.06 and RMB14.70, respectively, in 2021. Non-GAAP adjusted net income per basic and adjusted diluted ADS in 2022 was RMB16.56 (US$2.40) and RMB16.26 (US$2.36), compared with RMB16.68 and RMB16.26, respectively, in 2021. Mr. Justin Tang, the Founder, Chief Executive Officer and Chairman of the Company, commented, "We are very pleased to end the year with another solid quarter. The loan facilitation amount in the fourth quarter of 2022 exceeded our guidance and our total net revenue grew rapidly, increasing on both an annual and quarterly basis. Despite the very challenging environment in the midst of the COVID-19 resurgence throughout the year, we achieved a 42% increase in the loan facilitation amount in 2022 and maintained our asset quality at historical high levels. This further demonstrates the resilience of our business model, especially during challenging times, and confirms that we are on the right track for sustainable growth thanks to strong execution by our team and continuous optimization of our risk control system." "With the end of the strict COVID control policy and the reopening of China in December last year, the country's focus has shifted back to stimulating economic growth. We believe that domestic consumption will play an important role in driving China's economic growth this year and, so far in the first quarter, we have seen a recovery in consumer sentiment. In addition, small and medium-sized enterprises ("SMEs") are expected to receive more support from the government to drive their business recovery and future growth. All of these factors will benefit the overall personal finance market in China, where our business is rooted." "On the regulatory side, according to the central bank, Ant Group and 13 other platform companies have basically completed business rectification under the government's guidance and supervision, and regulators will continue to promote the healthy development of the platform economy. While we believe that the overall regulatory environment will be broadly stable this year, we will closely monitor and adapt quickly to any policy changes, and ensure compliance in our operations as always." "In conclusion, we are cautiously optimistic about the outlook for this year and expect continued rapid growth in our loan facilitation amount and expansion in both our top and bottom lines." Mr. Kent Li, President of the Company, added, "During the fourth quarter, our total loan amount facilitated and originated reached RMB21.7 billion, up 65.9% year-over-year and 9.5% quarter-over-quarter, bringing our total loan amount for the full year to RMB73.7 billion. Our premium borrower base remained stable and we continued to improve asset quality by leveraging our data-driven and technology-empowered risk control system. Our delinquency rate for all outstanding loans past due for 31-60 days decreased to 1.02% as of the end of December 2022 from 1.48% a year ago. In addition, we have continued to strengthen collaborations with our institutional funding partners, and with more credit lines provided by them since the fourth quarter, we see further opportunities to optimize our funding costs and improve operational efficiency." Mr. Frank Fuya Zheng, Chief Financial Officer of the Company, added, "We were pleased to resume year-over-year top line growth in the fourth quarter. Total net revenue was RMB955.6 million, up 16.1% year-over-year and 6.8% quarter-over-quarter. We have also significantly improved our bottom line on both an annual and quarterly basis. Net income for the quarter was RMB274.6 million, up 88.7% year-over-year and 29.7% quarter-over-quarter. Despite macro headwinds in 2022, we remained confident in our prospects and continued our efforts to reward our shareholders. Through an expanded share repurchase program, we repurchased a total of 266,882 ADSs and 46,487,276 Class A ordinary shares in 2022, which will be accretive to earnings per share in 2023 as certain shares will be canceled or held as treasury shares during the year. In 2023, we will continue to execute our share repurchase plan, which will further enhance shareholders' value. With a stabilized regulatory environment and a gradual post-pandemic economic recovery, we expect revenue growth to accelerate and earnings to improve in line with top line growth. Looking ahead, we remain committed to returning value to our shareholders while maintaining sustainable business growth with healthy fundamentals, a proven strategy and strong execution capabilities." Fourth Quarter 2022 Financial Results Total net revenue in the fourth quarter of 2022 increased by 16.1% to RMB955.6 million (US$138.6 million) from RMB823.4 million in the same period of 2021, primarily due to an increase in the total loan amount facilitated and originated this quarter compared with the same period of 2021. Three Months Ended December 31, (In thousands, except for share and per share data) 2021 2022 YoY RMB % of Revenue RMB % of Revenue Loan facilitation service 487,774 59.2 % 562,137 58.8 % 15.2 % Post-origination service 94,767 11.5 % 106,777 11.2 % 12.7 % Financing income 219,094 26.6 % 248,639 26.0 % 13.5 % Other revenue 21,763 2.7 % 38,087 4.0 % 75.0 % Total net revenue 823,398 100.0 % 955,640 100.0 % 16.1 % Loan facilitation service fees in the fourth quarter of 2022 increased by 15.2% to RMB562.1 million (US$81.5 million) from RMB487.8 million in the same period of 2021, primarily due to an increase in the total loan amount facilitated this quarter compared with the same period of 2021. Post-origination service fees in the fourth quarter of 2022 increased by 12.7% to RMB106.8 million (US$15.5 million) from RMB94.8 million in the same period of 2021, primarily due to the cumulative effect of increased volume of loans facilitated in the previous quarters. Revenues from post-origination services are recognized on a straight-line basis over the term of the underlying loans as the services are being provided. Financing income in the fourth quarter of 2022 increased by 13.5% to RMB248.6 million (US$36.0 million) from RMB219.1 million in the same period of 2021, primarily due to an increase in average loan balances compared with the same period of 2021. Other revenue in the fourth quarter of 2022 increased by 75.0% to RMB38.1 million (US$5.5 million), compared with RMB21.8 million in the same period of 2021, primarily due to an increase in referral service fee for introducing borrowers to other platforms. Origination and servicing expenses in the fourth quarter of 2022 increased by 52.6% to RMB588.7 million (US$85.4 million) from RMB385.8 million in the same period of 2021, primarily due to an increase in commission fees resulting from the increase in total loan amount facilitated and originated this quarter compared with the same period of 2021. Reversal of provision for accounts receivable and contract assets in the fourth quarter of 2022 was RMB25.6 million (US$3.7 million), compared with provision for accounts receivable and contract assets of RMB19.5 million in the same period of 2021, primarily due to a decrease in the average estimated default rate which reflects an improvement in the credit quality of customers due to the Company's comprehensive risk management capabilities and stringent assessment criteria compared with the same period of 2021 . Provision for loans receivable in the fourth quarter of 2022 was RMB75.4 million (US$10.9 million), compared with RMB40.3 million in the same period of 2021, primarily due to an increase in loans receivable held by the Company as a result of the increase in total loan amount facilitated and originated this quarter compared with the same period of 2021. Income from operations in the fourth quarter of 2022 was RMB274.0 million (US$39.7 million), compared with RMB311.6 million in the same period of 2021. Income before income taxes and loss from equity in affiliates in the fourth quarter of 2022 was RMB382.5 million (US$55.5 million), compared with income before income taxes and loss from equity in affiliates of RMB301.1 million in the same period of 2021. Income tax expense in the fourth quarter of 2022 was RMB75.0 million (US$10.9 million), compared with RMB154.2 million in the same period of 2021. Net income in the fourth quarter of 2022 was RMB274.6 million (US$39.8 million), compared with RMB145.5 million in the same period of 2021. Non-GAAP adjusted net income in the fourth quarter of 2022 was RMB277.9 million (US$40.3 million), compared with RMB183.0 million in the same period of 2021. Net income per basic and diluted ADS in the fourth quarter of 2022 was RMB5.28 (US$0.77), and RMB5.16 (US$0.75), compared with RMB2.64 and RMB2.58, respectively, in the same period of 2021. Non-GAAP adjusted net income per basic and diluted ADS in the fourth quarter of 2022 was RMB5.34 (US$0.77), and RMB5.22 (US$0.76), compared with RMB3.30 and RMB3.24 respectively, in the same period of 2021. Cash and cash equivalents was RMB602.3 million (US$87.3 million) as of December 31, 2022, compared with RMB653.7 million as of September 30, 2022. Fiscal Year 2022 Financial Results Total net revenue in 2022 decreased by 1.8% to RMB3,563.0 million (US$516.6 million) from RMB3,626.5 million in 2021, primarily due to a decrease in average total borrowing cost of the borrowers; and also partially offset by an increase in the total loan amount facilitated and originated this year compared with 2021. Twelve Months Ended December 31, (In thousands, except for share and per share data) 2021 2022 YoY RMB % of Revenue RMB % of Revenue Loan facilitation service 2,545,593 70.2 % 2,044,344 57.4 % (19.7 %) Post-origination service 315,590 8.7 % 372,451 10.5 % 18.0 % Financing income 671,901 18.5 % 966,277 27.1 % 43.8 % Other revenue 93,381 2.6 % 179,878 5.0 % 92.6 % Total net revenue 3,626,465 100.0 % 3,562,950 100.0 % (1.8 %) Loan facilitation service fees in 2022 decreased by 19.7% to RMB2,044.3 million (US$296.4 million) from RMB2,545.6 million in 2021, primarily due to a decrease in average total borrowing cost of the borrowers; and also partially offset by an increase in the total loan amount facilitated this year compared with 2021. Post-origination service fees in 2022 increased by 18.0% to RMB372.5 million (US$54.0 million) from RMB315.6 million in 2021, primarily due to the cumulative effect of increased volume of loans facilitated during the year. Revenues from post-origination services are recognized on a straight-line basis over the term of the underlying loans as the services are being provided. Financing income in 2022 increased by 43.8% to RMB966.3 million (US$140.1 million) from RMB671.9 million in 2021, primarily due to an increase in average loan balances compared with 2021. Other revenue in 2022 increased by 92.6% to RMB179.9 million (US$26.1 million), compared with RMB93.4 million in 2021, primarily due to an increase in referral service fee for introducing borrowers to other platforms and an increase in technology service fees received for providing assistant technology development services. Origination and servicing expenses in 2022 increased by 8.3% to RMB2,126.7 million (US$308.3 million) from RMB1,963.0 million in 2021, primarily due to the following factors: (i) an increase in commission fees resulting from the increase in total loan amount facilitated and originated this year, (ii) an increase in interest expenses as a result of an increase in payable to institutional funding partners and investors, and (iii) partially offset by a decrease in insurance fee paid to insurance company. Provision for accounts receivable and contract assets in 2022 was RMB21.8 million (US$3.2 million), compared with RMB77.2 million in 2021, primarily due to a decrease in the average estimated default rate which reflects an improvement in the credit quality of customers due to the Company's comprehensive risk management capabilities and stringent assessment criteria compared with 2021. Provision for loans receivable in 2022 was RMB158.6 million (US$23.0 million), compared with RMB76.0 million in 2021, primarily due to an increase in loans receivable held by the Company as a result of the increase in the total loan amount facilitated and originated this year compared with 2021. Income from operations in 2022 was RMB1,082.3 million (US$156.9 million), compared with RMB1,311.0 million in 2021. Income before income taxes and loss from equity in affiliates in 2022 was RMB1,223.5 million (US$177.4 million), compared with income before income taxes and gain from equity in affiliates of RMB1,190.8 million in 2021. Income tax expense in 2022 was RMB389.4 million (US$56.5 million), compared with RMB368.7 million in 2021. Net income in 2022 was RMB812.0 million (US$117.7 million), compared with RMB825.4 million in 2021. Non-GAAP adjusted net income in 2022 was RMB873.7 million (US$126.7 million), compared with RMB913.8 million in 2021. Net income per basic and diluted ADS in 2022 was RMB15.42 (US$2.24), and RMB15.12 (US$2.19), compared with RMB15.06 and RMB14.70, respectively, in 2021. Non-GAAP adjusted net income per basic and diluted ADS in 2022 was RMB16.56 (US$2.40), and RMB16.26 (US$2.36), compared with RMB16.68 and RMB16.26 respectively, in 2021. Cash and cash equivalents was RMB602.3 million (US$87.3 million) as of December 31, 2022, compared with RMB584.8 million as of December 31, 2021. Share Repurchase Plan On November 16, 2022, the Company announced that its board of directors authorized to increase its share repurchase program to US$30 million from US$20 million, effective through September 2023. In the fourth quarter, the Company repurchased an aggregate of 48,704 ADSs and 18,285,504 Class A ordinary shares (representing 3,096,288 ADSs) or 6.4% of total outsta
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ViewSonic Targets to Double its Monitors Business for Hybrid Workspace
BREA, Calif., March 30, 2023 /PRNewswire/ -- ViewSonic Corp., a leading global provider of visual solutions, has attained substantial growth in its monitor business in 2022, and targets to double its global sales of monitors for hybrid workspace requirements in 2023. Notably, products featuring portable, Type-C, and touch functions performed exceptionally well. Moving forward, ViewSonic plans to expand its monitors for dynamic work environments, with a focus on individual productivity, remote collaboration, and easy setups. ViewSonic Empowers Organizations with Powerful Solutions for Hybrid Workspace "We see a significant potential within the ongoing transformation of workspaces. ViewSonic has attained stable growth in our hybrid work solutions despite macroeconomic headwinds," said Oscar Lin, General Manager of the Monitor Business Unit. "We will continue investing in cutting-edge technology and launch new products for improved workspace efficiency, flexibility, and sustainability. This will enable us to lead the market and expand our presence in the worldwide premium monitor market for corporations." Enhance Individual Productivity and Team CollaborationViewSonic has experienced substantial growth in its portable, USB-C (one cable solution), and touch monitor lines, which have increased by 106.5%, 95.8%, and 22.4% respectively between 2021 and 2022. The shift towards hybrid workspaces has resulted in a surge in demand for portable monitors. ViewSonic recognized this trend early on and introduced its first portable touch monitors in 2020. To better enhance individual productivity, ViewSonic will continue to expand its line of portable monitors and roll out more advanced features in 2023. For instance, by using portable monitors equipped with OLED technology and a one-cable solution for simultaneous data transfer and convenient charging, creators can do color-critical jobs with maximum efficiency and flexibility. In addition to prioritizing portability and efficiency, ViewSonic also recognizes the need for effective video conferencing in hybrid work environments. To provide users with the ultimate remote communication experience, ViewSonic has integrated advanced features such as two-way AI audio enhancement and a pop-up webcam with LED fill lights into its latest VG56V monitor. Integrate Total Visual Solutions to Transform Workspace ViewSonic excels in monitor technology and aims to revolutionize the visual solution for modern workplaces. To promote effective communication and collaboration in diverse settings, ViewSonic offers a total solution such as ViewBoard interactive displays and projectors for the modern workspace. ViewBoards come in sizes ranging from 24" to 105" and offer touch capability with intuitive navigation and annotation features, making them a great tool for boosting engagement and creativity in group settings. Meanwhile, ViewSonic's B2B projector line that can produce high-brightness, vividly colored images up to 300 inches is a great solution for transforming every corner of the workspace into a communication space. As an example of its own capabilities, ViewSonic has installed projectors in common areas throughout its office, allowing employees to enjoy their lunch while watching the news or games together. Additionally, the projectors have transformed the yoga room in the company's gym into a hybrid scenario and turned elevators into immersive space capsules. About ViewSonicFounded in California, ViewSonic is a leading global provider of visual solutions and conducts business in over 100 countries worldwide. As an innovator and visionary, ViewSonic is committed to providing comprehensive hardware and software solutions that include monitors, projectors, pen displays, commercial displays, All-in-One LED displays, ViewBoard interactive displays, and myViewBoard software ecosystem. With over 35 years of expertise in visual displays, ViewSonic has established a strong position for delivering innovative and reliable solutions for education, enterprise, consumer, and professional markets and helping customers "See the Difference." To find out more about ViewSonic, please visit www.viewsonic.com.
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Lacework Celebrates Inspiring "Secured by Women" Leaders
CISOs and Security leaders with impressive leadership and technical abilities are recognized for their accomplishments in transforming the security industry MOUNTAIN VIEW, Calif., March 30, 2023 /PRNewswire/ -- Lacework®, the data-driven cloud security company, today announced five inspirational CISOs and security leaders selected as part of the "Secured by Women" initiative: Ami Dave Bansal, Chief Information Security Officer, Fanatics, Inc.; Julie Chickillo, VP, Head of Cybersecurity, Guild Education; Helen McLaughlin, Head of Security Enablement & Culture, Mambu; Melina Scotto, Vice President Cybersecurity, CISO, Hilton; and Erika Voss, Vice President of Cloud Architecture, Engineering, Capital One. Ami Dave Bansal, Chief Information Security Officer, Fanatics, Inc. Secured by Women is designed to bring visibility to women who have been leading the way in the security industry and celebrate their accomplishments. The women celebrated today exemplify true excellence in their field, paving the way for security of the future. "The women nominated by their peers in our Secured by Women initiative are revolutionizing security by driving innovation, problem solving for today's most critical digital challenges, and creating radical change in the workplace," said Meagen Eisenberg, CMO of Lacework. "I'm honored to celebrate all the nominees and the five recognized leaders who are not only pioneers in a rapidly evolving industry, but serve as role models for every girl in love with STEM. Thank you Ami, Julie, Helen, Melina, and Erika for thriving and leading women in security." The women selected as Secured by Women leaders will receive the opportunity to attend a major security conference of their choice. Lacework will also donate $5,000 in matching contributions to Girls Who Code, an international nonprofit organization that aims to support and increase the number of women in computer science. Lacework aims to continue the initiative past International Women's Month as a continued effort for an industry-wide transformation and will host a Secured by Women event series at major industry gatherings throughout the year. Resources: Learn more from Lacework CMO Meagen Eisenberg on Secured by Women. Celebrate the rise of the CISO with us! Read what Lacework customers have to say about the Lacework Polygraph Data Platform. About Lacework Lacework offers the data-driven security platform for the cloud and is the leading cloud-native application protection platform (CNAPP) solution. Only Lacework can collect, analyze, and accurately correlate data — without requiring manually written rules — across an organization's cloud and Kubernetes environments, and narrow it down to the handful of security events that matter. Security and DevOps teams around the world trust Lacework to secure cloud-native applications across the full lifecycle from code to cloud. Get started at www.lacework.com. Julie Chickillo, VP, Head of Cybersecurity, Guild Education Helen McLaughlin, Head of Security Enablement & Culture, Mambu Melina Scotto, Vice President Cybersecurity, CISO, Hilton Erika Voss, Vice President of Cloud Architecture, Engineering, Capital One
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PacketFabric and Unitas Global Complete Merger
Creating the leader in software-defined and fully programmable networking from the Edge to Everywhere CULVER CITY, Calif., March 30, 2023 /PRNewswire/ -- PacketFabric and Unitas Global, leading enterprise network service providers, today announced the completion of their merger. Through this merger, PacketFabric becomes the premier Network as a Service (NaaS) provider, offering extensive capabilities in both public and private transport for enterprises, global channels and technology partners. PacketFabric automation enables enterprises to design and control their communication architecture; without carrying the obligation of owning, managing and operating any part of their network. PacketFabric Converge™ orchestrates on-demand TruNaaS™ connectivity across colocation facilities, cloud providers, and private network interconnection across the globe. Edge to Everywhere capabilities extend TruNaaS™ connectivity to enterprise edge locations with distributed data processing capabilities. PacketFabric Nexus™ automation extends industry leading agility and flexibility into both access and public network services, enabling businesses to tap into the best-performing business internet experience delivered by our global Reach™ network, SaaS On-Ramp™, extensive private peering and MIRO™ route optimization technology. PacketFabric's new capabilities and reach expand NaaS offerings beyond public cloud on-ramps and Data Center Interconnect (DCI), and create a fully programmable internet for enterprises; from the Edge to Everywhere. PacketFabric is the software-defined business internet. This strategy has been driven by Digital Alpha Advisors, LLC who had invested and acquired these assets, based on customer and market feedback, to create this industry leading, strategic platform. About PacketFabricPacketFabric is the only TruNaaS™ (Network as a Service) provider. We are passionate about providing an accessible, flexible, fully programmable internet that empowers users and businesses worldwide. For anyone craving the ease, security and automation of a sophisticated software solution, PacketFabric delivers an API driven platform with last mile, cloud access and internet connectivity, all on-demand. The PacketFabric promise is unparalleled network connectivity, that is as dynamic as today's world, and infinitely more dependable. We are innovators, gathering inspiration from our customers and partners, as we connect the edge to everywhere. For more information, visit www.packetfabric.com. About Digital Alpha Advisors, LLC Digital Alpha Advisors, LLC is an investment firm focused on digital infrastructure required by the rapidly expanding digital economy, with total assets under management of over $1.5B. The firm has a strategic collaboration agreement with Cisco Systems, Inc. and has partnered with other leading Silicon Valley firms. Digital Alpha believes it is the first firm focused on making private equity investments in the significant growth opportunities required to underpin the Digital Economy, including next generation communications networks, IoT platforms for urban infrastructure, and cloud-based data management platforms. Digital Alpha was founded in 2017 by Rick Shrotri, former Head of the Global Infrastructure Funds (GIF) team at Cisco, and closed its latest Fund – Digital Alpha Fund II, LP – in early 2021. For more information, please visit www.digitalalpha.net. Media Contact: marketing@packetfabric.com
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Inside the Action: A Toshiba TV Offering to Gamers
HONG KONG, March 30, 2023 /PRNewswire/ -- In the year of 2022, Toshiba TV ranked first in the Japanese market share, and third in Egypt for the craftsman's consistent innovation.* Toshiba TV is set to release a new product fitted with the latest refresh rate panel: the 144Hz native display for premium motion. The refresh rate panel, which refers to the number of times a television updates motion images per second, directly impacts the smoothness and clarity of what is displayed on the screen, especially fast-moving content such as sports, action movies, and essentially, video games. Without a doubt, Toshiba TV's upcoming new model, the Z870, inbuilt with the nifty 144Hz refresh rate for optimal display performance was innovated with gamers in mind. For the complete quality gaming ensemble, these new Toshiba TV models also pack in an impressive Game Mode Pro, promising an all-immersive game time. The Game Mode Pro is an assortment of gameplay-enhancing sub-features such as the Auto Low Latency Mode (ALLM) for seamless connection of gaming devices to the television; the AMD FreeSync technology for tear-free and stutter-free gaming; and the Variable Refresh Rate (VRR) for dynamic refresh rate synchronization. These features convincingly cater to scene-by-scene needs for real and quick gameplay. Complementing a solid structure for performance, Toshiba TV pays due attention to pristine display quality with the inclusion of the Mini LED display technology, which allows for precise backlighting, improved local dimming, high color vibrancy, and enhanced energy efficiency. These features are powered by the REGZA chip, Toshiba TV's signature image processor for premium image resolution upconversion, color enhancement, and contrast optimization. To all who anticipate the launch of the Toshiba TV Z870, the model is expected to be launched soon as July this year. From all indications, this new addition to the Toshiba TV flagship should continue the streaks of success across local and international markets. *Source: BCN, GFK About Toshiba TV Toshiba TV has 71 years of history in TV production. With its strong DNA in inventions and innovative ideas, Toshiba TV has produced many TVs with the world's first features. Toshiba TV has provided unforgettable experiences and new viewing styles to many people around the world through its high image quality. For more details, stay tuned to Toshiba TV on Facebook, Instagram, Twitter, YouTube.
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XGIMI'S MOGO 2 PROJECTOR SERIES NOW AVAILABLE
XGIMI's MoGo 2 series is now available via presale with full retail availability and shipping April 25 SUNNYVALE, Calif., March 30, 2023 /PRNewswire/ -- XGIMI, a leading design and industry-awarded projector and laser TV brand, today announced the availability of its latest smart portable projector, the XGIMI MoGo 2 series consisting of the MoGo 2 Pro and MoGo 2 projectors. The MoGo series can be pre-ordered on the XGIMI website and on Amazon. The MoGo 2 Pro will retail for $599 and the MoGo 2 will retail for $399, with full availability, including at Best Buy, beginning on April 25th. A portable projector for everyone To bring users a better portable projection experience, XGIMI has upgraded its MoGo product range, featured in the brand new MoGo 2 Series – which includes the MoGo 2 and MoGo 2 Pro. The new series is aimed at busy urban professionals and young families, and offers significant improvements in screen brightness, screen clarity and speaker performance, as well as the new Intelligent Screen Adaption 2.0 (in the MoGo 2 Pro), which allows for a complete hassle-free setup process for first-time projector users. Cinematic Brightness Brightness is crucial to whether a projector can project a clear and visible image. The MoGo 2 Series is equipped with XGIMI's self-developed light engine, which uses advanced technologies, such as high-transmission coated lenses to reduce light loss in the projection light path, ultimately providing a brightness output of up to 400 ISO lumens. With a resolution of 1080p (MoGo 2 Pro) and 720p (MoGo 2), they create uniquely sharp images. Cinematic Colors The color performance of the MoGo 2 series has been greatly improved, with a color gamut coverage of up to 90% of the DCI-P3 color gamut standard range. That means the MoGo 2 series displays more abundant color details, ensuring that the color performance is more vivid and natural. The D65 color temperature standard newly deployed in the MoGo 2 series is widely used in Hollywood as a color temperature standard. This standard restores the color details that movies and original video content should have, allowing users to enjoy a more realistic visual experience. Additionally, the color accuracy of the MoGo 2 series projectors is extremely high, delivering better color restoration in characters and scenery, while ensuring the emotional and philosophical meaning that directors want to convey is fully experienced. Cinematic Sound The MoGo 2 series speaker specifications have been comprehensively upgraded from the previous generation, resulting in a significant improvement in sound quality. Two 8W speaker units provide a powerful sound output, providing a more immersive audio experience. The MoGo 2 series has double-sided sound outputs that create a wider and more even sound field, resulting in a more immersive audio experience with less high-frequency loss. The upgraded design guarantees excellent sound performance, allowing users to enjoy excellent sound quality from every corner of any room. The MoGo 2 series projector body is equipped with a transparent bass diaphragm window on the back, allowing users to clearly see the diaphragm structure and sound movement inside the speaker. The projector features four different sound modes; Movie, Sports, Music, and News mode. Smart ISA 2.0 (Intelligent Screen Adaptation) As the first XGIMI projector to feature its proprietary ISA 2.0 technology, the MoGo 2 Pro can achieve uninterrupted automatic keystone correction and autofocus, providing users with a smoother and continuous viewing experience. After adjusting the projector's position, ISA 2.0 can achieve multi-angle automatic keystone correction and focus adjustment without the user's input, for both horizontal and vertical alignment, ensuring users see the clearest and most suitable projected image instantly. Intelligent eye protection is another important upgrade of ISA 2.0., which was designed for households with children and pets, so when they pass by or stop in front of the projector, the image automatically dims to prevent glare from entering their eyes. ISA 2.0 also includes functions previously available in ISA 1.0, such as Intelligent Screen Alignment and Intelligent Obstacle Avoidance. Smart ISA 1.0 MoGo 2 comes with the standard Intelligent Screen Adaption (ISA), developed by XGIMI, which simplifies the setup process and makes the projector more user-friendly, providing an optimized image in seconds. The features included in ISA 1.0 remain an industry standard, and include: Intelligent Screen Alignment which automatically aligns the projected image to the edge of the screen, Intelligent Obstacle Avoidance which intelligently avoids obstacles during correction, Automatic Keystone Correction which performs correction within ±40° on the horizontal and vertical axes, and Automatic Focus providing a clear image without manual adjustment. Smart – Android TV 11 The MoGo 2 series both run on Google's latest smart TV operating system which provides a more fluid user experience, more personalized recommendations and customization and a higher security and privacy protection. Portable The MoGo 2 series projectors are very compact and lightweight, and can easily fit into a backpack, making it effortless to take them anywhere. The MoGo 2 series is the first XGIMI series that supports power supply from a power bank which allows users to power the MoGo 2 series projectors when on the go, making it more convenient to watch movies anywhere. "The MoGo 2 series is aimed at anyone who wants to explore good quality projectors. So we created the most user-friendly projector to date, making our technology accessible to everyone," said Tex Yang, Vice President of XGIMI Global Business. "MoGo 2 series was designed with the intention of allowing people to use it easily in any home environment. Whether you want to enjoy the big screen indoors with your family or bring it outside for fun, MoGo 2 series will provide you with a limitless joy experience," he added. About XGIMI Since 2013, the state-of-the-art XGIMI projectors have helped countless people worldwide to create genuinely immersive audio-visual experiences. Working with reputable partners like Google, Harman Kardon, and Texas Instruments, XGIMI builds all-in-one entertainment devices, perfected due to their user-oriented philosophy. Through industry-leading innovation, streamlined setups, and unique designs, XGIMI always strives to develop the best home and portable projectors for everyone to enjoy. https://www.xgimi.com/
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Results Revealed: 2022 PHBS-CJBS Global Pitch Competition Held in Shenzhen
SHENZHEN, China, March 30, 2023 /PRNewswire/ -- The Grand Final of the 2022 PHBS-CJBS Global Pitch Competition was held recently in the China-Britain Institute of Qianhai, Shenzhen. The event attracted thousands of investors, startup entrepreneurs, and audience, both on-site and online. The competition involved nearly 200 high-quality startups worldwide in a variety of fields such as medical and healthcare, the chip and semiconductor industry, leading technology, energy and environment protection, SaaS and enterprise service, and cultural and creative products. The Final Competition A total of 8 domestic and 2 international startups made it to the final round through a series of competitive pitching sessions and 13 roadshows over the last year. In the afternoon's final, a representative from each team had 10 minutes to pitch the group's business plan to a panel of esteemed judges comprised of scholars, investors, and entrepreneurs, which was then followed by a 5-minute Q&A session. After a fierce competition, the first prize went to LaSense Technology (Shenzhen) Limited. RuoxinTech Co., Ltd and ZRD New Energy Co., Ltd won second prize. Shutang Information Technology (Shenzhen) Co., LTD, LIANFENG ACOUSTIC TECHNOLOGIES CO., LTD., Shenzhen HoloEpoch Media Technology Co., Ltd, CCCulture, and Ciyunge Medical Technology Co., Ltd, won the third prize. Two international startups NEURONSPIKE and Design with FRANK won the Outstanding Startup Award. Following the competition, the Greater Bay Area Entrepreneurship and Venture Capital Forum featured keynote speeches given by renowned entrepreneurs and investors, and included such topics as the trend of Innovation, entrepreneurship, and venture capital , and the cultivation of innovative leaders. Initiated in 2020, the PHBS-CJBS Global Pitch Competition has gained great support from the Shenzhen Municipal Development and Reform Commission, the Science and Technology Innovation Committee, and many well-known venture capital institutions, incubators, scientific research institutes, and industry leaders. Hai Wen, vice chairman of Peking University Council and PHBS founding dean, noted that the success of the competition reflected the school's endeavors to promote the innovation of the Greater Bay Area and facilitate the construction of its entrepreneurial and innovative ecosystem. The launch ceremony of the 2023 PHBS-CJBS Global Pitch Competition was held at the end of the event. With the theme of "Business Empowering Technological Innovation," It will focus on artificial intelligence, medical health, smart manufacturing, chips and semiconductors, new materials, and exporting technology. For the participation in this year's competition, contact us: competition@phbs.pku.edu.cn or register your program: https://jinshuju.net/f/bYTXNsl
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Infineon and Burapha University establish launchpad for Internet of Things
Infineon today announced the opening of the Burapha University Infineon Innovation Launchpad (BIIL) situated at EAST Park Building, to nurture Internet of Things (IoT) start-up ecosystem in Thailand's Eastern Economic Corridor (EEC). The launchpad is backed by Burapha University's Eastern Science and Technology Park (EAST Park) and Bangsaen Design House (BDH) Academy. The launchpad on campus allows for close collaboration among Infineon employees, researchers, students, and start-ups on future IoT topics in key areas such as healthcare, smart city, advanced farming, medicine and manufacturing. "Infineon focuses on innovative solutions enabling green and efficient energy, clean and safe mobility, smart and secure IoT. Together with Burapha University, a well-known research university leading in Holistic IoT and AI Platform especially on Healthcare and Smart City applications for more than 8 years, we will undertake several initiatives to foster local ecosystem including academic training on IoT topics that are industrially relevant," said Francis Foo, Vice President and Head of Power and Sensor Systems, Infineon Technologies Asia Pacific Pte Ltd. Besides training students, BIIL will also offer product and application trainings for engineers particularly from start-ups and small medium enterprises. Following an application-oriented approach, start-ups can leverage Burapha University's innovative IoT competence and Infineon's components and system expertise at the launchpad to further their projects. BIIL also acts as a steppingstone in identifying and developing new talents. Infineon Thailand offers internship as part of the co-op education to give university students hands-on learning and real-world work experience to complement what they have learned from textbooks.
