Coin98 Labs Acquires Yunero Studios to Accelerate Web3 Mass Adoption via GameFi
Challengermode expands senior leadership team with global games experts to expand content offering
DAACI AI Tech Sets Out to Revolutionize Music Composition
A3: STILL ALIVE HOSTS SPECIAL IN-GAME EVENTS FEATURING NEW SERVERS, REWARDS, DISCOUNTS AND MORE
NETMARBLE'S BATTLE ROYALE GAME 'HYPESQUAD' BEGINS ALPHA TEST ON STEAM TODAY
Global Esports Federations announces Dubai as host city for Global Esports Games 2025
Top American Gamer Celebrity Jerome Backs The gDEX Metaverse With His 9 million Followers
NetEase Releases NARAKA: BLADEPOINT on Xbox Series X|S, Windows PC and with Xbox Game Pass for Global Audience on June 23
Good Game Asia, World's First Live Gaming Reality TV Show, Premieres 10 June on Warner TV
'Baby Shark BubbleFong Friends' NFTs, First Sale on Binance NFT
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Catheon Gaming partners with CyberStep to launch Onigiri on the blockchain
HONG KONG, June 1, 2022 /PRNewswire/ -- Catheon Gaming ("the Company"), the fastest-growing integrated blockchain gaming & entertainment company, announced today an industry partnership with CyberStep, a Japanese global online video game developer and publisher to bring Oinigiri onto the blockchain. Catheon Gaming partners with CyberStep to launch Onigiri on the blockchain Onigiri is a Free-to-Play MMO Action-RPG available for PC, iOS/Android, Playstation 4 & 5 and Nintendo Switch. Originally released in 2013, Onigiri has over 5 million downloads worldwide. The title features fast-paced action, player versus environment gameplay in a beautiful ancient Japanese setting, with more than 100 companion characters to choose from in-game. With Onigiri, CyberStep has developed a long-lasting relationship with a community of loyal fans, not only in Japan but also across Asia and North America. As a result of the popularity of the game, an anime series was developed around it, which highlights its appeal. Catheon Gaming will bring its deep expertise and network in blockchain, NFTs, gaming and Web3 to assist CyberStep in creating new products and services that will amplify digital fandom around the franchise and game. Both Catheon Gaming and CyberStep recognise the global popularity of anime and the industry's long-term appeal. The anime gaming audience accounted for $1 for every $5 spent through the app stores on mobile games in 2021. The growth in global popularity is fuelled by the availability of anime content on streaming platforms such as Netflix, in emerging entertainment markets, and in core P2E gaming markets. The current consumption of anime is supported by collectibles and memorabilia, which paves the way for introducing NFTs into the space. William Wu, CEO, Catheon Gaming commented: "Over the last six months at Catheon Gaming, we have made real progress in harnessing the potential of NFTs and gaming for some of the anime franchises, offering their fanbase new digital experiences based on the important principles of true digital ownership and decentralization. Catheon Gaming is proud to have played a significant role in some of the major milestones in the development of true digital property rights via NFTs for gaming. We are extremely excited to be bringing Web3 to one of the most popular entertainment industries in the world, anime." Rui Sato, Chairman & CEO, CyberStep said: "Since its inception, CyberStep has established a solid foundation for its services in North America, Asia, and Japan by eagerly expanding overseas. CyberStep was one of the first game developers to publish Free to Play games in Asia and have served over 60 million users worldwide. Our mission is to develop and deliver entertainment through innovation and we are very excited to enter the NFT Game market with Catheon Gaming. We hope that everyone will enjoy our brand new anime-based blockchain game." About Catheon Gaming Catheon Gaming is the fastest-growing integrated blockchain gaming and entertainment company globally. The company's flagship franchise, SolChicks, entered the market following successful fundraising from various venture capital investors, institutions, and launchpad partners. The company brings technical, gaming, and marketing expertise together with deep roots in the blockchain industry. The company's strategy is to partner with leading game developers and IP-holders to incubate and launch "best-in-class" blockchain games and bring them to the widest possible audience. For more information, please visit:https://catheongaming.com/. About CyberStep CyberStep, Inc. is a leading game developer and publisher from Japan which was founded in April 2000. From popular online action games such as "Onigiri" and "GetAmped", to the world's first online claw machine game "Toreba", CyberStep brings over 20 years of experience and expertise in the game industry, providing players with the highest quality of entertainment. The company's mission is to develop and realize never-before-seen ideas that can be enjoyed by people all around the world. For more information, please visit: https://corp.cyberstep.com/company/profile_en.html
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A3: STILL ALIVE TO HOST A NEW SERIES OF SPECIAL IN-GAME EVENTS IN JUNE
LOS ANGELES, June 1, 2022 /PRNewswire/ -- Netmarble, a leading developer and publisher of mobile games, has announced a new series of special in-game events for its dark fantasy open world mobile RPG A3: Still Alive. Following a successful Buyback and Burn event, where a total of 500,000 ITUs were collected in 2 days, Netmarble continues to pursue in-game events that will help keep ITU's overall value. Additionally, the ITU refinement fee has been lowered to 10% of the ITU's transaction, from the previous 5 Red Diamonds fee, in order to provide a satisfactory user in-game experience. Players can participate in several in-game events to celebrate the Buyback and Burn's successful results including the following Inetrion Ore Giveaway Events: Coliseum Extract Event: (~June 3): Players (Lv. 190 and above) who achieves 3 wins will evenly share a group reward that totals 200 million of Inetrion Ore Inetrion Hot-Time Event (~June 4): During the Hot-time period, players will receive a higher drop rate on Inetrion Ore in the Inetrion Dungeon Wish Altar Extract Event (~June 11): The top 1,000 players, who spend over 200,000 Inetrion Ore during the event period, will evenly share a group reward totaling 200 million Inetrion Ore By June 7, players can enter the A3 Tip King Event for a chance to win huge rewards. In order to participate, players will be required to post A3 game tips, strategies, or DEX-related content (Exchange event, ITU airdrop, ITU, MBX, DEX, ect.). Players will need to post their content's URL link to the game's Discord channel where the community will decide which entry is the most-popular content in the Vote Channel. Additionally, the game will offer the Veteran 200 Level-up Package Sale which can be purchased by players with Lv. 190 and above. This package allows players to quickly achieve Lv. 200 and gives powerful items such as +35 Lv. 200 Legendary Equipment Chest. Set in an apocalyptic fantasy world of swords and sorcery, A3: Still Alive is a cross-genre mobile experience that pairs the enormous and living worlds of Open-World RPGs with the extreme combat of Battle Royale. Players must be vigilant in an always-open Player vs. Player (PvP) environment as they fight against enemies with intense hack & slash combat and prove their mettle in a variety of PvP and Player vs. Environment (PvE) modes. A3: Still Alive is beautifully rendered with splendid console-quality 3D graphics that are brought to life thanks to the outstanding optimization of the Unity Engine. A3: Still Alive is now available as a free digital download (with in-app purchases) on Apple's App Store and Google Play, in 172 countries around the world. The game is also available for download as an Open Beta for Windows PC via the A3: Still Alive website. For more information, please visit the official website and forum, and follow A3: Still Alive on Facebook , Discord, and YouTube . About Netmarble Corporation Established in Korea in 2000, Netmarble Corporation is a top developer and publisher pushing the boundaries of the mobile gaming experience with highly innovative games including Marvel Future Revolution, Ni no Kuni: Cross Worlds, Lineage 2: Revolution, The Seven Deadly Sins: Grand Cross, Blade & Soul Revolution and MARVEL Future Fight. As a parent company of Kabam, and a major shareholder of Jam City and HYBE (formerly Big Hit Entertainment), Netmarble strives to entertain audiences around the world with a variety of mobile games based on its powerful franchises and collaborations with IP holders worldwide. More information can be found at http://company.netmarble.com
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Heaven Media Welcomes Back Events, Offering Best-in-Class Service to the Gaming Industry
Heaven Media Limited, a leading marketing agency specialising in the global promotion of video games and esports, announced today a radically evolved range of event services, providing a solution suitable for any budget or size. With decades of experience in staging complex gaming events, tournaments and booth building solutions, event management has long been a core pillar of business for Heaven Media. During the global pandemic, Heaven Media spent two years investing in people and technology, designed to elevate their event service. Heaven Media recently emerged from the pandemic, building the largest gaming booth at EGX 2021 in London where they provided a full turn-key solution from concept through to staffing including a live tournament. With events now back as a permanent fixture on the gaming calendar, the Company is currently designing and building booths for multiple shows including Gamescom, PAX Melbourne, Paris Games Week, TwitchCon Amsterdam and more. Key Heaven Media staff will be available at these shows to supervise the build and welcome any member of the industry who wishes to meet and discuss their event needs. “During the pandemic, Heaven Media pivoted to online events and other alternatives to support our customers’ marketing needs.” said Inna Gjylameti, Head of European Sales and Marketing for Heaven Media. “We were fortunate enough to add some incredible event talent to our team, building for the future ahead. We’re leaders in advanced booth solutions, engineered to be quick to build and economical to run, breaking down easily so that our customers can use one booth across multiple global events.” In addition to acquiring key talent, Heaven Media has made a significant investment in its soon to be unveiled ‘Studio esports’, a premier event facility with on-board production able to host tournaments, award ceremonies, sales events and so much more. Mark Reed, CEO of Heaven Media further commented, “The pandemic had a devastating effect on live events, so we altered our strategy, doubling our revenue year-on-year via focus on influencer relations, PR, social media management and campaign work. Events are ingrained in our DNA however, and we used this downtime to make strategic investments in our event business. Our new hires have deep experience in ideation, design & engagement, eco-booth building and staff management. We also ensured that this investment was spread globally, including new staff across Asia, Europe, North America, Australia and beyond, ensuring that we have on-the-ground internal resources, capable of confidently activating any size of event. In short, we believe we are now the global leaders in gaming events of any size, able to design, execute and staff world-class events like no one else.” Expanding on the virtual event offering Heaven Media pioneered during the early days of the pandemic, the Company has also acquired a significant stake in Endix (endix-expo.com) a digitized expo company where gamers can control a virtual avatar around a highly realistic show floor, visiting publisher booths and then instantly jumping into live gameplay demos, all without the need to download software. For enquiries about any of the Heaven Media event services, please contact: agency@heavenmedia.com For more on Heaven Media, please visit: www.heavenmedia.com
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Tencent Teams Up with SOOS OIO to Level Up Healthy Gameplay in Singapore
A series of hybrid events to promote intergenerational communication and digital wellbeing amongst local youths SINGAPORE, May 22, 2022 /PRNewswire/ -- With the number of video gamers in Singapore expected to hit 3 million by 2026, video and mobile gaming has touched the lives of many internet users, serving as a conduit to form meaningful social connections and a platform to cultivate prosocial behaviours. Against this landscape, Tencent has partnered local social enterprise SOOS OIO to organise a series of parenting webinar, workshops and community gaming tournaments at this year's Digital For Life Festival, organised by Singapore's Infocomm Media Development Authority (IMDA). The events, which span across two weekends (21-22 May, 28-29 May), seek to advocate digital wellness among the public, and more specifically support the growth of a healthy, inclusive and balanced gameplay environment for everyone in Singapore. The collaboration taps on SOOS OIO's local networks and experience working with Singaporean parents and youths, as well as Tencent's global expertise in shaping a positive gameplay environment. "We are proud to be part of the Digital For Life Festival to drive greater awareness about the importance of digital wellness, and how the digital sphere, including online gaming, enables new possibilities and empowers the digital society," said Stanley Sun, head of publishing technology services of Interactive Entertainment Group (IEG) at Tencent. "As a game publisher, we continuously work to build a healthy and inclusive gaming ecosystem, in close collaboration with organisations like SOOS OIO in Singapore." SOOS OIO believes that video and mobile gaming serve not only as a social platform for community building, but an educational medium to develop critical thinking and communications skills. "Play is an integral part of learning and we believe that video gaming constitutes play on a different playground. It offers development for every youth across cognitive, emotional and social aspects," said Pauline Phoon, founder of SOOS OIO. "Misconceptions around gaming often arise from a lack of understanding about the nature of games and the benefits it can bring. Together with Tencent, we hope to bring awareness among parents and community in Singapore about the various ways gaming can be leveraged for digital wellness, social and cognitive skills, and most importantly - as a means of connecting with children." "We thank SOOS OIO, Tencent and all partners for joining us to organise the parenting workshops and community gaming tournaments at the inaugural Digital for Life Festival, enabling our youths to learn the importance of healthy gaming, while strengthening social connections between family, friends and community," said Ms Dawn Low, Cluster Director for Digital Readiness and Digital for Life programme office at IMDA. Accompanying her sons to the community gaming tournament (TeleMatch Brawl Stars) on May 22, Anne Soh, mother of Jesse Tan (23 years old) and Jakin Tan (21 years old), shared, "I am glad that my sons are now able to share their strategies for healthy gaming with others through various platforms like social media and casting for competitions. From having to adhere to time limits I set for them when they were young, they have now progressed to being able to self-regulate their gaming schedules. I hope more parents will be able to engage with their children on ways to integrate gaming into a healthy and balanced lifestyle." Through the various activities planned for the Digital For Life Festival 2022, Tencent and SOOS OIO hope to demystify gaming for parents, engage youths to form healthy gaming habits, foster healthy familial relationships through gaming, and realise the benefits of play for everyone. These activities include: Webinar on Understanding Games, Gamers and Game Dependency During the webinar, parents were equipped with the framework needed to better understand games, gamers and game dependency, which allowed them to better appreciate the motivations behind certain gaming behaviour. The participants were also exposed to various communication strategies as well as a brief introduction to neurofeedback intervention - with the overall goal of improving parent-child communication and relationships. Parenting Challenge Workshops: Communicating & Engaging Gaming Youths at Home through Role Play As a follow up to the webinar, participants put the theories and communications strategies learnt to good use through role play sessions of common scenarios in families. These practical sessions helped to contextualise the learnings and deepened participants' understanding of the theories through re-enactment in a safe environment. TeleTrip Festival Families and friends teamed up to battle each other in a casual and community-style gaming tournament, uniquely designed to be inclusive and fun for all. Two family-friendly game titles, Brawl Stars and Roblox: Super Striker League were featured in the telematches - albeit with a twist through a special rewards system that celebrates a myriad of accomplishments, beyond just the highest score. This serves to ignite participants' creative, strategic gameplay and teamwork while ensuring that the games are accessible to every member of the family. Following its Singapore office launch in late 2020, Tencent recently launched Level Infinite, the company's global games publisher arm in Singapore. "Through our collaborations, we are also enabling the sustainable growth of the gaming industry by nurturing young talents, supporting local studios and investing in innovation in Singapore, and around the world," Sun concluded. <END> About Tencent: Tencent uses technology to enrich the lives of Internet users. Our communication and social services, Weixin and QQ, connect users with each other and with digital content and services, both online and offline, making their lives more convenient. Our targeted advertising service helps advertisers reach out to hundreds of millions of consumers in China. Our FinTech and business services support our partners' business growth and assist their digital upgrade. Tencent invests heavily in talent and technological innovation, actively promoting the development of the Internet industry. Tencent was founded in Shenzhen, China, in 1998. Shares of Tencent (00700.HK) are listed on the Main Board of the Stock Exchange of Hong Kong. About SOOS OIO: SOOS OIO is a social enterprise that develops youth holistically in our fast-evolving world. We believe in harnessing the positive benefits of games through play for social and personal growth. Since 2018, TeleTrip, our community gaming event, have gathered gamers to play, learn and grow together. Beyond community gaming, we also have The Game Addiction Talk for schools, with tools like the COMEBACK Game Dependency Test and the COMEBACK Gamer Player Type Test to help them better understand their students. We conduct workshops for the Ministry of Education in Singapore to empower educators with insights about gamers' motivation for better engagement and support. Our annual Parents Webinar: Understanding Games, Gamers and Game Dependency is the platform where we share our insights to parents. SOOS OIO is pronounced as "su-s su-s". SOOS is the English transliteration of the Hebrew word, meaning, a horse. OIO is the Hebrew cursive letter word for horse, less the vowel.
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A3: STILL ALIVE TO ROLL OUT A SERIES OF SPECIAL BLOCKCHAIN EVENTS IN MAY
Check out the numbers of event for fans to enjoy, while various events to keep ITU valuation to be revealed progressively LOS ANGELES, May 20, 2022 /PRNewswire/ -- Netmarble, a leading developer and publisher of mobile games, recently announced the completion of the global blockchain ecosystem for its dark fantasy open world mobile RPG A3: Still Alive with the integration of the MARBLEX Wallet DEX Service integration. Following the launch, the game is launching a series of special events throughout the month of May. Red Diamond Giveaway Event (May 3 – May 23): As a special event for long-time global A3 players and ITU, MBX ecosystem supporters, users can obtain a total of 200 Red Diamonds throughout the servers as follows: 50 Red Diamonds are given when the Combat Power reaches 3M. 50 Red Diamonds are given when the Combat Power reaches 5M. 100 Red Diamonds are given when the Combat Power reaches 7M. INETRIUM Airdrop Giveaway (May 20 – June 3): Users can obtain additional ITU upon completion of simple missions given by Gleam. Users with the top 100 mission scores will acquire 50 ITU, while users reaching above 160 entries will be eligible to be randomly selected to win 5 ITU. To participate, users need to download the A3 game app and link to the MARBLEX Wallet. Moreover, the players are urged to check out the additional event to allow ITU to keep its valuation. The players can join the INETRIUM Buyback & Burn Event, where they can swap their ITU for a higher rate of MBXL. The details can be found here. The recent introduction of the MARBLEX Wallet DEX Service feature to A3: Still Alive allows players to convert Inetrion Ore, an in-game currency, into INETRIUM, MBXL, and MBX, as well as convert to the public currency for real life transactions. To obtain Inetrion Ore, players will need to visit the Inetrion Dungeon (Tiers 1-3) and use Radienne's Protection to defeat the Inetrion Monster. After collecting more than 200,000 Ore and linking the MARBLEX Wallet with the INETRIUM Refinery, players can convert the Ore into INETRIUM based on the day's exchange fee, with a percentage of currency used for conversion. Through the MARBLEX Wallet DEX Service, INETRIUM can then be used to buy and sell MBXL and can be converted to MBX to make live transactions to purchase KLAY. Set in an apocalyptic fantasy world of swords and sorcery, A3: Still Alive is a cross-genre mobile experience that pairs the enormous and living worlds of Open-World RPGs with the extreme combat of Battle Royale. Players must be vigilant in an always-open Player vs. Player (PvP) environment as they fight against enemies with intense hack & slash combat and prove their mettle in a variety of PvP and Player vs. Environment (PvE) modes. A3: Still Alive is beautifully rendered with splendid console-quality 3D graphics that are brought to life thanks to the outstanding optimization of the Unity Engine. A3: Still Alive is now available as a free digital download (with in-app purchases) on Apple's App Store and Google Play, in 172 countries around the world. The game is also available for download as an Open Beta for Windows PC via the A3: Still Alive website. For more information, please visit the official website and forum, and follow A3: Still Alive on Facebook, Discord, and YouTube . About Netmarble Corporation Established in Korea in 2000, Netmarble Corporation is a top developer and publisher pushing the boundaries of the mobile gaming experience with highly innovative games including Marvel Future Revolution, Ni no Kuni: Cross Worlds, Lineage 2: Revolution, The Seven Deadly Sins: Grand Cross, Blade & Soul Revolution and MARVEL Future Fight. As a parent company of Kabam, and a major shareholder of Jam City and HYBE (formerly Big Hit Entertainment), Netmarble strives to entertain audiences around the world with a variety of mobile games based on its powerful franchises and collaborations with IP holders worldwide. More information can be found at http://company.netmarble.com
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Play Globally Inc. Welcomes Stephen Crystal to its Advisory Board and Partners with SCCG Management
Play Globally, Inc., a worldwide provider of free-to-play gaming innovations, today proudly announced the appointment of Stephen Crystal to its advisory board as well as a new partnership with Crystal’s firm, SCCG Management. This partnership brings additional expertise in sports betting, iGaming, sports team marketing, affiliate marketing, intellectual property protection, product commercialization, esports, capital formation, M&A, joint ventures, casino management and legal affairs in the casino and iGaming industry. Crystal will join veteran Advisory Board members Susan Hensel and Victor Pronk, providing over 75 years of collective experience across the sports betting and iGaming space. These globally recognized leaders provide high-value strategic prowess to Play Globally’s seasoned executive team as the company prepares to launch its LuckyFans prototype. LuckyFans drives live and recorded in-play sports data into a poker engine to determine the outcome of a fast-paced poker game. LuckyFans is free-to-play and leverages advanced machine learning and GPS technology for contextual fan engagement, sweepstakes, and prizes. SCCG was founded by Stephen Crystal who has served as President/CEO of multiple casino holding and public gaming companies. SCCG brings a vast international network of strategic client partners including top sportsbooks and racebooks, sports and racing leagues, fantasy sports and rewards entities, communications and marketing platforms, authentication technology and casino entities. Crystal has worked as an investor and advisor on financial and M&A projects totaling over $4B and served as the President, owner and operator of four major Las Vegas casinos. In addition to Crystal, the SCCG team also includes David Hanlon who served as a C-level executive at gaming giants Caesars World, Inc., Harrah’s, the Rio, and IGT in addition to serving as an Advisor to the Wharton Entrepreneurial Program. Pierre Cadena also plays a key role on the SCCG team, having helped to position Playtika, Otter Media and Crunchyroll for acquisition, each totaling over $1B. During his tenure at Caesars Interactive Entertainment as the VP of Strategy and Corporate Development, Pierre helped build Playtika, one of the world’s largest social mobile games. “The addition of Stephen to the Play Globally Advisory Board and the addition of his SCCG team to Play Globally’s team provides our company with a wealth of expertise in our space,” says Play Globally’s President/CEO Stephen Dunham. “We’re excited to partner with such well-respected industry leaders and to join their global network of strategic partners.” “Play Globally’s ingenuity and strategic role in the sports betting space presents a unique opportunity for leagues, teams, fans, and aligned entities worldwide,” says Stephen Crystal. “The combination of Play Globally’s existing intellectual property, their executive and advisory team, new upcoming technologies, and strategic positioning in the industry, particularly when combined with SCCG’s extensive network and capabilities, makes this opportunity particularly exciting.”
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DouYu International Holdings Limited Reports First Quarter 2022 Unaudited Financial Results
WUHAN, China, May 18, 2022 /PRNewswire/ -- DouYu International Holdings Limited ("DouYu" or the "Company") (Nasdaq: DOYU), a leading game-centric live streaming platform in China and a pioneer in the eSports value chain, today announced its unaudited financial results for the first quarter ended March 31, 2022. First Quarter 2022 Financial and Operational Highlights Total net revenues in the first quarter of 2022 were RMB1,795.6 million (US$283.3 million), compared with RMB2,152.7 million in the same period of 2021. Gross profit in the first quarter of 2022 was RMB243.8 million (US$38.5 million), compared with RMB260.2 million in the same period of 2021. Net loss in the first quarter of 2022 was RMB86.9 million (US$13.7 million), compared with RMB101.8 million in the same period of 2021. Adjusted net loss[1] in the first quarter of 2022 was RMB52.5 million (US$8.3 million), compared with RMB70.7 million in the same period of 2021. Average mobile MAUs[2] in the first quarter of 2022 were 55.1 million, compared with 59.1 million in the same period of 2021. Quarterly average paying user[3] count in the first quarter of 2022 was 6.4 million, compared with 7.0 million in the same period of 2021. Mr. Shaojie Chen, Chief Executive Officer of DouYu, commented, "During the first quarter of 2022, we continued executing on our strategic upgrade to develop our game-centric comprehensive content platform. In conjunction with our adoption of a selective copyright procurement strategy, we increased our investment in self-produced content and tournaments and enhanced our collaboration with game developers and distributors to deliver a stable operational performance through our high-quality game contents and refined operations. Our average mobile MAUs were 55.1 million in the first quarter. Going forward, we will continue to explore new business initiatives by leveraging our competitive advantage in livestreaming, videos, graphics, and interactive communities, while maintaining our leading position in the traditional livestreaming industry." Mr. Hao Cao, Vice President of DouYu, commented, "In the first quarter of 2022, our total revenues were RMB1.8 billion and our gross profit was RMB243.8 million, representing a gross margin of 13.6%. During the same quarter, we continued to make adjustments to our livestreaming operations and optimized our cost structure while constantly offering our premium content and refining our operations. We focused on operating efficiency improvement through ROI enhancement and cost controls and achieved encouraging results. Our gross margin improved year over year and net loss decreased to 86.9 million, while adjusted net loss narrowed to RMB52.5 million. Looking ahead, we will continue to improve our operational efficiency and remain focused on exploring new growth drivers and enhancing monetization capabilities to generate sustainable growth and higher shareholder value." First Quarter 2022 Financial Results Total net revenues in the first quarter of 2022 decreased by 16.6% to RMB1,795.6 million (US$283.3million), compared with RMB2,152.7 million in the same period of 2021. Livestreaming revenues in the first quarter of 2022 decreased by 13.6% to RMB1,727.2 million (US$272.5 million) from RMB1,998.6 million in the same period of 2021. The decrease was due to the implementation of prudent operating strategies in anticipation of a tightening regulatory environment. Such strategies primarily include the Company's adjustments to certain interactive features and the related operations in order to promote the long-term development of its platform. Advertising and other revenues in the first quarter of 2022 were RMB68.4 million (US$10.8 million), compared with RMB154.1 million in the same period of 2021. The decrease was primarily due to the continued exploration of new commercialization models by using a portion of advertising traffic that could have been directly monetized, as well as the challenging macro environment. Cost of revenues in the first quarter of 2022 was RMB1,551.8million (US$244.8 million), a decrease of 18.0% compared with RMB1,892.5 million in the same period of 2021. Revenue sharing fees and content costs in the first quarter of 2022 decreased by 19.2% to RMB1,340.6 million (US$211.5 million) from RMB1,659.6 million in the same period of 2021. The decrease was primarily due to the decreased revenue sharing fees which is in line with the Company's decreased livestreaming revenues, as well as a significant decrease in copyright costs. Bandwidth costs in the first quarter of 2022 decreased by 11.8% to RMB151.9 million (US$24.0 million) from RMB172.1 million in the same period of 2021. The decrease was mainly due to less peak bandwidth usage for fewer purchased eSport tournaments, as well as lower per unit bandwidth costs as a result of improved procurement efficiency. Gross profit in the first quarter of 2022 was RMB243.8 million (US$38.5 million), compared with RMB260.2 million in the same period of 2021. Gross margin in the first quarter of 2022 improved to 13.6% from 12.1% in the same period of 2021. The increase in gross margin was primarily due to the significant decrease in copyright costs as a percentage of total net revenues. Sales and marketing expenses in the first quarter of 2022 decreased 11.2% to RMB186.4 million (US$29.4 million) from RMB209.9 million in the same period of 2021. The decrease was mainly attributable to the decreased personnel-related expenses and branding expenses. Research and development expenses in the first quarter of 2022 increased 4.5% to RMB116.3 million (US$18.3million) from RMB111.3 million in the same period of 2021. The increase was primarily attributable to continued investment in technical personnel as the Company continues to invest in product upgrades to support its game-centric content strategy. General and administrative expenses in the first quarter of 2022 increased 2.3% to RMB90.1 million (US$14.2 million) from RMB88.1 million in the same period of 2021. Other operating income, net in the first quarter of 2022 was RMB47.8 million (US$7.5 million), compared with other operating income of RMB23.9 million in the same period of 2021. Loss from operations in the first quarter of 2022 was RMB101.2 million (US$16.0 million), compared with RMB125.1 million in the same period of 2021. Adjusted loss from operations in the first quarter of 2022, which adds back share-based compensation expenses, was RMB68.0 million (US$10.7 million), compared with RMB91.8 million in the same period of 2021. Income tax expenses in the first quarter of 2022 and 2021 were nil due to the Company's cumulative net losses and the resulting tax loss carry forward. Net loss in the first quarter of 2022 was RMB86.9 million (US$13.7 million), compared with RMB101.8 million in the same period of 2021. Adjusted net loss in the first quarter of 2022, which excludes share-based compensation expenses, share of loss in equity method investments, and impairment loss of investments, was RMB52.5 million (US$8.3 million), compared with RMB70.7 million in the same period of 2021. Basic and diluted net loss per ADS[4] in the first quarter of 2022 were RMB0.27 (US$0.04) and RMB0.27 (US$0.04), respectively. Adjusted basic and diluted net loss per ADS in the first quarter of 2022 were RMB0.16 (US$0.03) and RMB0.16 (US$0.03), respectively. Cash and cash equivalents, restricted cash and bank deposits As of March 31, 2022, the Company had cash and cash equivalents, restricted cash, short-term and long-term bank deposits of RMB6,315 million (US$996.2 million), compared with RMB6,643 million as of December 31, 2021. Share Repurchase Program On August 30, 2021, the Company announced that its board of directors had authorized a share repurchase program under which the Company may repurchase up to US$100 million of its ordinary shares in the form of ADSs during a period of up to 12 months commencing on August 30, 2021. The Company expects to utilize existing funds to make repurchases under this program. As of March 31, 2022, the Company had repurchased an aggregate of US$33.9 million (RMB215 million) worth of its ADSs under this program. Recent Developments Regulatory Update On May 7, 2022, the competent authorities of the PRC issued the Opinion on Live Streaming Virtual Gifting and Enhancing the Protection of Minors (the "Opinion"). The Opinion stipulates that, for the main purpose of protecting minors, internet platforms shall, among other requirements and restrictions, (i) prohibit minors from engaging in virtual gifting, (ii) cancel all ranking functions that rank livestreamers solely by the volume of virtual gifts that they receive or rank users by the volume of virtual gifts that they send, within one month starting from the publication of the Opinion, and (iii) impose restrictions on certain interaction functions between 8:00 p.m. and 10:00 p.m. every day. The Company is committed to fully complying with the Opinion and other applicable laws and regulations. Although the interpretation and implementation of the Opinion remain uncertain, the Company is carefully considering the provisions of the Opinion and assessing their implications for the Company's business. While the Company has been proactively monitoring the regulatory trends, and has strategically adjusted its operational strategies in response to the evolving regulatory landscape, the Company expects the Opinion, and the compliance measures to be taken, will have negative impacts on the live streaming service of the industry players, including that of the Company, which may in turn adversely affect the Company's business operations and financial condition. The Company will proactively seek guidance from and cooperate with the regulatory authorities in connection with its efforts to comply with the Opinion and the related implementation rules. There is no assurance that the compliance measures that the Company plans to take will be effective, or the implementation of the Opinion will not have a material adverse impact on the Company's business operations and financial condition in the following quarters. Conference Call Information The Company will hold a conference call on May 18, 2022, at 7:00am Eastern Time (or 7:00pm Beijing Time on the same day) to discuss the financial results. Listeners may access the call by dialing the following numbers: International: 1-412-317-6061 United States Toll Free: 1-888-317-6003 Mainland China Toll Free: 4001-206115 Hong Kong Toll Free: 800-963976 Singapore Toll Free: 800-120-5863 Conference ID: 7654821 The replay will be accessible through May 25, 2022, by dialing the following numbers: International: 1-412-317-0088 United States Toll Free: 1-877-344-7529 Conference ID: 2324012 A live and archived webcast of the conference call will also be available at the Company's investor relations website at http://ir.douyu.com/. [1] "Adjusted net loss" is calculated as net loss before share-based compensation expenses, and share of loss in equity method investments, and impairment loss on investments. For more information, please refer to "Use of Non-GAAP Financial Measures" and "Reconciliations of GAAP and Non-GAAP Results" at the end of this press release. [2] Refers to the number of mobile devices that launched the Company's mobile apps in a given period. Average mobile MAUs for a given period is calculated by dividing (i) the sum of active mobile users for each month of such period, by (ii) the number of months in such period. [3] "Quarterly average paying users" refers to the average paying users for each quarter during a given period of time calculated by dividing (i) the sum of paying users for each quarter of such period, by (ii) the number of quarters in such period. "Paying user" refers to a registered user that has purchased virtual gifts on the Company's platform at least once during the relevant period. [4] Every ten ADSs represent one ordinary share. About DouYu International Holdings Limited Headquartered in Wuhan, China, DouYu International Holdings Limited (Nasdaq: DOYU) is a leading game-centric live streaming platform in China and a pioneer in the eSports value chain. DouYu operates its platform on both PC and mobile apps to bring users access to immersive and interactive games and entertainment livestreaming, a wide array of video and graphic contents, as well as opportunities to participate in community events and discussions. By nurturing a sustainable technology-based talent development system and relentlessly producing high-quality content, DouYu consistently delivers premium content through integration of livestreaming, video, graphics, and virtual communities with a primary focus on games, especially on eSports. This enables DouYu to continuously expand its user base and enhance its user experience. For more information, please see http://ir.douyu.com/. Use of Non-GAAP Financial Measures Adjusted operating income (loss) is calculated as operating income (loss) adjusted for share-based compensation expenses. Adjusted net income (loss) is calculated as net income (loss) adjusted for share-based compensation expenses, share of income (loss) in equity method investments, and impairment loss on investments. Adjusted net income (loss) attributable to DouYu is calculated as net income (loss) attributable to DouYu adjusted for share-based compensation expenses, share of income (loss) in equity method investments, and impairment loss of investments. Adjusted basic and diluted net income per ordinary share is non-GAAP net income attributable to ordinary shareholders divided by weighted average number of ordinary shares used in the calculation of non-GAAP basic and diluted net income per ordinary share. The Company adjusted the impact of (i) share-based compensation expenses, (ii) share of income (loss) in equity method investments, (iii) impairment loss of investments to understand and evaluate the Company's core operating performance. The non-GAAP financial measures are presented to enhance investors' overall understanding of the Company's financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP. Investors are encouraged to review the reconciliation of the historical non-GAAP financial measures to its most directly comparable GAAP financial measures. As non-GAAP financial measures have material limitations as analytical metrics and may not be calculated in the same manner by all companies, they may not be comparable to other similarly titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measures as a substitute for, or superior to, such metrics in accordance with U.S. GAAP. For more information on these non-GAAP financial measures, please see the table captioned "Reconciliations of Non-GAAP Results" near the end of this release. Exchange Rate Information This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.3393 to US$1.00, the noon buying rate in effect on March 31, 2022, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB amounts could have been, or could be, converted, realized or settled in U.S. dollars at that rate on March 31, 2022, or at any other rate. Safe Harbor Statement This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and 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: the Company's results of operations and financial condition; the Company's business strategies; general market conditions, in particular the game live streaming market; the ability of the Company to retain and grow active and paying users; changes in general economic and business conditions in China; the impact of the COVID-19 to the Company's business operations and the economy in China and globally; any adverse changes in laws, regulations, rules, policies or guidelines applicable to the Company; and assumptions underlying or related to any of the foregoing. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the Securities Exchange Commission. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law. Investor Relations Contact Lingling KongDouYu International Holdings LimitedEmail: ir@douyu.tvPhone: +1 (646) 224-6934 Robin YangICR, LLC.Email: DouYu.IR@icrinc.comPhone: +1 (646) 224-6934 Media Relations Contact Lingling KongDouYu International Holdings LimitedEmail: pr_douyu@douyu.tvPhone: +1 (646) 308-1475 Edmond LococoICR, LLC.Email: DouYu.PR@icrinc.comPhone: +1 (646) 308-1475 UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (All amounts in thousands, except share, ADS, per share and per ADS data) As of December 31 As of March 31 2021 2022 2022 ASSETS RMB RMB US$ (1) Current assets: Cash and cash equivalents 4,456,406 3,548,413 559,748 Restricted cash 10,703 6,057 955 Short-term bank deposits 2,076,355 2,660,532 419,689 Accounts receivable, net 191,389 153,378 24,195 Prepayments 80,717 60,091 9,479 Amounts due from related parties 37,159 35,116 5,539 Other current assets 376,367 380,464 60,017 Total current assets 7,229,096 6,844,051 1,079,622 Property and equipment, net 25,111 22,047 3,478 Intangible assets, net 161,540 155,326 24,502 Long-term bank deposits 100,000 100,000 15,775 Investments 491,425 530,245 83,644 Goodwill 12,637 12,582 1,985 Right-of-use assets, net 72,309 64,288 10,141 Other non-current assets 64,785 48,731 7,687 Total non-current assets 927,807 933,219 147,212 TOTAL ASSETS 8,156,903 7,777,270 1,226,834 LIABILITIES AND SHAREHOLDERS' EQUITY LIABILITIES Current liabilities: Accounts payable 824,128 766,821 120,963 Advances from customers 7,476 8,388 1,323 Deferred revenue 235,134 231,410 36,504 Accrued expenses and other current liabilities 458,328 343,058 54,116 Amounts due to related parties 293,508 303,522 47,879 Lease liabilities due within one year 30,417 31,523 4,973 Total current liabilities 1,848,991 1,684,722 265,758 Lease liabilities 31,278 25,368 4,002 Deferred revenue 18,045 14,973 2,362 Total non-current liabilities 49,323 40,341 6,364 TOTAL LIABILITIES 1,898,314 1,725,063 272,122 (1) Translations of RMB amounts into U.S. dollars at a specified rate are solely for the convenience of the reader.Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.3393 to US$1.00, the noon buying rate in effect on March 31, 2022, in the H.10 statistical release of the Federal Reserve Board. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED) (All amounts in thousands, except share, ADS, per share and per ADS data) As of December 31 As of March 31 2021 2022 2022 RMB RMB US$ (1) SHAREHOLDERS' EQUITY Ordinary shares 23 23 4 Treasury shares (802,250) (911,217) (143,741) Additional paid-in capital 10,618,538 10,646,289 1,679,411 Accumulated deficit (3,445,102) (3,531,957) (557,153) Accumulated other comprehensive loss (112,621) (156,391) (24,670) Total DouYu Shareholders' Equity 6,258,588 6,046,747 953,851 Noncontrolling interests 1 5,460 861 Total Shareholders' Equity 6,258,589 6,052,207 954,712 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 8,156,903 7,777,270 1,226,834 (1) Translations of certain RMB amounts into U.S. dollars at a specified rate are solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.3393 to US$1.00, the noon buying rate in effect on March 31, 2022, in the H.10 statistical release of the Federal Reserve Board. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) (All amounts in thousands, except share, ADS, per share and per ADS data) Three Months Ended March 31, December 31, March 31, March 31, 2021 2021 2022 2022 RMB RMB RMB US$(1) Net revenues 2,152,687 2,327,917 1,795,646 283,256 Cost of revenues (1,892,499) (2,083,223) (1,551,872) (244,802) Gross profit 260,188 244,694 243,774 38,454 Operating income (expense) (2) Sales and marketing expenses (209,877) (229,214) (186,358) (29,397) General and administrative expenses (88,074) (98,756) (90,100) (14,213) Research and development expenses (111,264) (132,574) (116,308) (18,347) Other operating income, net 23,924 13,909 47,801 7,540 Total operating expenses (385,291) (446,635) (344,965) (54,417) Loss from operations (125,103) (201,941)
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HUYA Inc. Reports First Quarter 2022 Unaudited Financial Results
GUANGZHOU, China, May 17, 2022 /PRNewswire/ -- HUYA Inc. ("Huya" or the "Company") (NYSE: HUYA), a leading game live streaming platform in China, today announced its unaudited financial results for the first quarter ended March 31, 2022. First Quarter 2022 Highlights Total net revenues for the first quarter of 2022 were RMB2,464.6 million (US$388.8 million), compared with RMB2,604.8 million for the same period of 2021. Net loss attributable to HUYA Inc. was RMB3.3 million (US$0.5 million) for the first quarter of 2022, compared with net income attributable to HUYA Inc. of RMB185.5 million for the same period of 2021. Non-GAAP net income attributable to HUYA Inc.[1] was RMB46.6 million (US$7.4 million) for the first quarter of 2022, compared with RMB265.9 million for the same period of 2021. Average mobile MAUs[2] of Huya Live in the first quarter of 2022 increased by 8.5% to 81.9 million from 75.5 million in the same period of 2021. Total number of paying users[3] of Huya Live in the first quarter of 2022 was 5.9 million, compared with 5.9 million in the same period of 2021. "Our operational results this quarter reflect the outcome of our continuous focus on content enrichment and user engagement as we grew our mobile MAUs by 8.5% year-over-year to reach 81.9 million amid a challenging macro environment," said Mr. Rongjie Dong, Chief Executive Officer of Huya. "As a leading game live streaming platform, we remain dedicated to providing rich content for our growing community and bringing more opportunities to our content creators. Additionally, in our relentless efforts to advance product innovation to enable a cross-platform, more immersive experience for our community, our users can now better integrate their live streaming experience on Huya's platform with their game plays. Moreover, we believe the most recent regulatory changes for live streaming will contribute to the industry's overall development in the long run, and we will continue to comply with all applicable laws and regulations. Leveraging our operational and technological expertise, we believe in our agility and ability to navigate the evolving and dynamic market conditions." Ms. Ashley Xin Wu, Vice President of Finance of Huya, commented, "Given the continued macro headwinds and the recent resurgence of the COVID-19 pandemic in China, we achieved RMB2,464.6 million total net revenues and RMB333.6 million gross profit in the first quarter of 2022. As we continue to invest in content to drive sustainable business development, we are committed to further enhancing operational efficiency and refining resource allocation to support key areas of our business. We remain confident that by fostering quality content, driving product innovation, running efficient operations and enhancing our compliance capabilities, we will strengthen Huya's core competitiveness in the game live streaming industry." [1] "Non-GAAP net income attributable to HUYA Inc." is defined as net (loss) income attributable to HUYA Inc. excluding share-based compensation expenses and gain on fair value change of investments, net of income taxes. For more information, please refer to "Use of Non-GAAP Financial Measures" and "Reconciliations of GAAP and Non-GAAP Results" at the end of this press release. [2] Refers to average monthly active users on mobile apps. Average mobile MAUs for any period is calculated by dividing (i) the sum of active users on the mobile apps for each month during such relevant period, by (ii) the number of months during such relevant period. [3] Refers to the sum of user accounts that purchased various products and services on our platform at least once during such relevant period. First Quarter 2022 Financial Results Total net revenues for the first quarter of 2022 were RMB2,464.6 million (US$388.8 million), compared with RMB2,604.8 million for the same period of 2021. Live streaming revenues were RMB2,151.7 million (US$339.4 million) for the first quarter of 2022, compared with RMB2,392.3 million for the same period of 2021, primarily due to decreased average spending per paying user on Huya Live, as the recent macro environment adversely affected the sentiment of the Company's paying users. Advertising and other revenues increased by 47.2% to RMB312.8 million (US$49.4 million) for the first quarter of 2022 from RMB212.5 million for the same period of 2021, primarily driven by the increase in content sub-licensing revenues. Cost of revenues increased by 1.9% to RMB2,131.0 million (US$336.2 million) for the first quarter of 2022 from RMB2,090.9 million for the same period of 2021, primarily due to the increase in revenue sharing fees and content costs. Revenue sharing fees and content costs increased by 3.4% to RMB1,807.5 million (US$285.1 million) for the first quarter of 2022 from RMB1,748.6 million for the same period of 2021, primarily due to the increase in spending on e-sports content and the increase in revenue sharing fees in relation to certain broadcaster incentive programs. Bandwidth costs decreased by 7.3% to RMB168.3 million (US$26.6 million) for the first quarter of 2022 from RMB181.5 million for the same period of 2021, primarily due to improved bandwidth cost management and continued technology enhancement efforts. Gross profit was RMB333.6 million (US$52.6 million) for the first quarter of 2022, compared with RMB513.9 million for the same period of 2021, primarily due to lower revenues and increased cost of revenues primarily driven by higher revenue sharing fees and content costs. Gross margin was 13.5% for the first quarter of 2022, compared with 19.7% for the same period of 2021. Research and development expenses decreased by 1.4% to RMB196.3 million (US$31.0 million) for the first quarter of 2022 from RMB199.1 million for the same period of 2021, primarily due to the decrease in share-based compensation expenses. Sales and marketing expenses increased by 0.3% to RMB145.1 million (US$22.9 million) for the first quarter of 2022 from RMB144.6 million for the same period of 2021. General and administrative expenses decreased by 3.9% to RMB80.8 million (US$12.7 million) for the first quarter of 2022 from RMB84.1 million for the same period of 2021, primarily due to the decrease in share-based compensation expenses. Other income was RMB28.3 million (US$4.5 million) for the first quarter of 2022, compared with RMB76.0 million for the same period of 2021, primarily attributable to realized damages received in the first quarter of 2021 from a favorable outcome in a broadcaster-related lawsuit. Operating loss was RMB60.2 million (US$9.5 million) for the first quarter of 2022, compared with operating income of RMB162.1 million for the same period of 2021. Interest and short-term investments income were RMB59.2 million (US$9.3 million) for the first quarter of 2022, compared with RMB65.1 million for the same period of 2021, primarily due to decreased interest rates. Income tax expenses were RMB9.4 million (US$1.5 million) for the first quarter of 2022, compared with RMB39.4 million for the same period of 2021, primarily due to lower taxable income. Net loss attributable to HUYA Inc. was RMB3.3 million (US$0.5 million) for the first quarter of 2022, compared with net income attributable to HUYA Inc. of RMB185.5 million for the same period of 2021. Non-GAAP net income attributable to HUYA Inc., which excludes share-based compensation expenses and gain on fair value change of investments, net of income taxes, was RMB46.6 million (US$7.4 million) for the first quarter of 2022, compared with RMB265.9 million for the same period of 2021. Diluted net loss per American depositary share ("ADS") was RMB0.01 (US$0.002) for the first quarter of 2022, compared with diluted net income per ADS of RMB0.77 for the same period of 2021. Each ADS represents one Class A ordinary share of the Company. Non-GAAP diluted net income per ADS was RMB0.19 (US$0.03) for the first quarter of 2022, compared with RMB1.10 for the same period of 2021. As of March 31, 2022, the Company had cash and cash equivalents, short-term deposits and short-term investments of RMB10,473.4 million (US$1,652.1 million), compared with RMB10,959.1 million as of December 31, 2021, primarily due to the increase in investments and prepayments to content providers. Recent Development Regulatory Update On May 7, 2022, the PRC government issued the Opinion on Live Streaming Virtual Gifting and Enhancing the Protection of Minors (the "Opinion"). The Opinion stipulates that internet platforms shall, among other restrictions, (i) within one month of the publication of the Opinion terminate all billboard functions that rank users or broadcasters by the volume of virtual gifts that they send or receive, respectively, (ii) restrict certain interaction and engagement functions between 8:00 p.m. and 10:00 p.m. every day, and (iii) prohibit minors from purchasing virtual gifts. The Company will continue to comply with all applicable laws and regulations in providing live streaming services, including the Opinion. The Company is carefully considering the provisions of the Opinion and assessing their implications for the Company's business. The Company expects the Opinion, and the compliance measures to be taken, will have a negative impact on the live streaming services of the market participants of the industry, including that of the Company, which in turn may adversely affect the Company's results of operations and prospect. The Company will proactively seek guidance from and cooperate with government authorities in connection with its efforts to comply with the Opinion and any related implementation rules. There is no assurance that the measures that the Company takes will be effective or the implementation of the Opinion would not have a material adverse impact on the Company's business operations and financial results in the coming quarters. Conference Call The Company's management will host an earnings conference call at 7:00 a.m. U.S. Eastern Time on May 17, 2022 (7:00 p.m. Beijing/Hong Kong time on May 17, 2022). For participants who wish to join the call, please complete online registration using the link provided below 20 minutes prior to the scheduled call start time. Upon registration, participants will receive the conference call access information, including dial-in numbers, Direct Event passcode, a unique registrant ID and an e-mail with detailed instructions to join the conference call. Participant Online Registration: http://apac.directeventreg.com/registration/event/3368875 Once registration is complete, please dial-in at least 10 minutes before the scheduled start time of the earnings call and enter the Direct Event passcode and registrant ID as instructed to connect to the call. Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at https://ir.huya.com. A replay of the conference call will be accessible approximately two hours after the conclusion of the live call until May 24, 2022, by dialing the following telephone numbers: United States: +1-646-254-3697 International: +61-2-8199-0299 Hong Kong, China: +852-3051-2780 Replay Access Code: 3368875 About HUYA Inc. HUYA Inc. is a leading game live streaming platform in China with a large and active game live streaming community. The Company cooperates with e-sports event organizers, as well as major game developers and publishers, and has developed e-sports live streaming as one of the most popular content genres on its platform. The Company has created an engaged, interactive and immersive community for game enthusiasts of China's young generation. Building on its success in game live streaming, Huya has also extended its content to other entertainment content genres. Huya's open platform also functions as a marketplace for broadcasters and talent agencies to congregate and closely collaborate with the Company. Use of Non-GAAP Financial Measures The unaudited condensed consolidated financial information is prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"), except that the consolidated statement of changes in shareholders' equity, consolidated statements of cash flows, and the detailed notes have not been presented. Huya uses non-GAAP gross profit, non-GAAP operating income (loss), non-GAAP net income (loss) attributable to HUYA Inc., non-GAAP net income (loss) attributable to ordinary shareholders, non-GAAP basic and diluted net income (loss) per ordinary shares, and non-GAAP basic and diluted net income (loss) per ADS, which are non-GAAP financial measures. Non-GAAP gross profit is gross profit excluding share-based compensation expenses allocated in cost of revenues. Non-GAAP operating income (loss) is operating income (loss) excluding share-based compensation expenses. Non-GAAP net income (loss) attributable to HUYA Inc. is net income (loss) attributable to HUYA Inc. excluding share-based compensation expenses and gain on fair value change of investments, net of income taxes. Non-GAAP net income (loss) attributable to ordinary shareholders is net income (loss) attributable to ordinary shareholders excluding share-based compensation expenses and gain on fair value change of investments, net of income taxes. Non-GAAP basic and diluted net income (loss) per ADS is non-GAAP net income (loss) attributable to ordinary shareholders divided by weighted average number of ADS used in the calculation of non-GAAP basic and diluted net income (loss) per ADS. The Company believes that separate analysis and exclusion of the impact of (i) share-based compensation expenses, and (ii) gain on fair value change of investments, net of income taxes add clarity to the constituent parts of its performance. The Company reviews these non-GAAP financial measures together with GAAP financial measures to obtain a better understanding of its operating performance. It uses the non-GAAP financial measure for planning, forecasting and measuring results against the forecast. The Company believes that non-GAAP financial measure is useful supplemental information for investors and analysts to assess its operating performance without the effect of (i) share-based compensation expenses, which have been and will continue to be significant recurring expenses in its business, and (ii) gain on fair value change of investments, net of income taxes, which may recur when there is observable price change in the future. However, the use of non-GAAP financial measures has material limitations as an analytical tool. One of the limitations of using non-GAAP financial measures is that they do not include all items that impact the Company's net income for the period. In addition, because non-GAAP financial measures are not measured in the same manner by all companies, they may not be comparable to other similar titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measure in isolation from or as an alternative to the financial measure prepared in accordance with U.S. GAAP. 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 U.S. GAAP. For more information on these non-GAAP financial measures, please see the table captioned "HUYA Inc. Reconciliations of GAAP and Non-GAAP Results" at the end of this announcement. Exchange Rate Information This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.3393 to US$1.00, the noon buying rate in effect on March 31, 2022, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the Renminbi or U.S. dollars amounts referred to in this announcement could have been or could be converted into U.S. dollars or Renminbi, as the case may be, at any particular rate or at all. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this announcement, as well as Huya's strategic and operational plans, contain forward-looking statements. Huya may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission ("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 Huya'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: Huya's goals and strategies; Huya's future business development, results of operations and financial condition; the expected growth of the game live streaming market; the expectation regarding the rate at which to gain active users, especially paying users; Huya's ability to monetize the user base; Huya's efforts in complying with applicable data privacy and security regulations; fluctuations in general economic and business conditions in China; the impact of the COVID-19 to Huya's business operations and the economy in China and elsewhere generally; any regulatory developments in laws, regulations, rules, policies or guidelines applicable to Huya; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Huya's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Huya does not undertake any obligation to update any forward-looking statement, except as required under applicable law. For investor and media inquiries, please contact: In China: HUYA Inc.Investor RelationsTel: +86-20-2290-7829E-mail: ir@huya.com The Piacente Group, Inc.Jenny CaiTel: +86-10-6508-0677E-mail: huya@tpg-ir.com In the United States: The Piacente Group, Inc. Brandi PiacenteTel: +1-212-481-2050E-mail: huya@tpg-ir.com HUYA INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (All amounts in thousands, except share, ADS, per share data and per ADS data) As of December 31, As of March 31, 2021 2022 2022 RMB RMB US$ Assets Current assets Cash and cash equivalents 1,790,784 1,480,006 233,465 Restricted cash 55,670 90,954 14,348 Short-term deposits 8,351,945 8,269,231 1,304,439 Short-term investments 816,331 724,133 114,229 Accounts receivable, net 88,034 88,388 13,943 Amounts due from related parties, net 148,560 131,146 20,688 Prepayments and other current assets, net 664,945 838,192 132,222 Total current assets 11,916,269 11,622,050 1,833,334 Non-current assets Deferred tax assets 20,245 70,258 11,083 Investments 608,617 865,017 136,453 Property and equipment, net 79,611 73,393 11,577 Intangible assets, net 83,942 78,837 12,436 Right-of-use assets, net 395,371 390,997 61,678 Prepayments and other non-current assets 150,887 142,544 22,486 Total non-current assets 1,338,673 1,621,046 255,713 Total assets 13,254,942 13,243,096 2,089,047 Liabilities and shareholders' equity Current liabilities Accounts payable 12,579 12,171 1,920 Advances from customers and deferred revenue 459,509 469,055 73,992 Income taxes payable 5,944 30,889 4,873 Accrued liabilities and other current liabilities 1,845,452 1,680,513 265,093 Amounts due to related parties 216,128 218,651 34,491 Lease liabilities due within one year 36,473 39,204 6,184 Total current liabilities 2,576,085 2,450,483 386,553 Non-current liabilities Lease liabilities 45,084 39,463 6,225 Deferred tax liabilities 4,597 20,533 3,239 Deferred revenue 118,975 110,322 17,403 Total non-current liabilities 168,656 170,318 26,867 Total liabilities 2,744,741 2,620,801 413,420 HUYA INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED) (All amounts in thousands, except share, ADS, per share data and per ADS data) As of December 31, As of March 31, 2021 2022 2022 RMB RMB US$ Shareholders' equity Class A ordinary shares (US$0.0001 par value; 750,000,000 shares authorized as of December 31, 2021 and March 31, 2022,respectively; 86,993,764 and 87,179,823 shares issued and outstanding as of December 31, 2021 and March 31, 2022, respectively) 58 58 9 Class B ordinary shares (US$0.0001 par value; 200,000,000 shares authorized as of December 31, 2021 and March 31, 2022, respectively; 151,076,517 and 151,076,517 shares issued and outstanding as of December 31, 2021 and March 31, 2022, respectively) 99 99 16 Additional paid-in capital 11,764,059 11,820,958 1,864,710 Statutory reserves 122,429 122,429 19,313 Accumulated deficit (1,300,144) (1,303,458) (205,615) Accumulated other comprehensive loss (76,300) (17,791) (2,806) Total shareholders' equity 10,510,201 10,622,295 1,675,627 Total liabilities and shareholders' equity 13,254,942 13,243,096 2,089,047 HUYA INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (All amounts in thousands, except share, ADS, per share data and per ADS data) Three Months Ended March 31,2021 December 31,2021 March 31,2022 March 31,2022 RMB RMB RMB US$ Net revenues Live streaming 2,392,275 2,612,897 2,151,704 339,423 Advertising and others 212,509 195,844 312,847 49,350 Total net revenues 2,604,784 2,808,741 2,464,551 388,773 Cost of revenues(1) (2,090,896) (2,807,672) (2,130,974) (336,153) Gross profit 513,888 1,069 333,577 52,620 Operating expenses(1)
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GosuGamers Joins 31st SEA Games as Official Media Partner for Esports
SINGAPORE, May 13, 2022 /PRNewswire/ -- GosuGamers, the world's premier esports portal, announces its status as the official media partner for the 31st Southeast Asian (SEA) Games' esports category, taking place between May 13 to May 22. GosuGamers Joins 31st SEA Games as Official Media Partner for Esports Together with sponsors such as Djinn Guild, FOTA, DeOu, Tokenize Xchange, and Rohto V-Cool, GosuGamers will bring the latest news, updates, and results from the sporting spectacle to a global audience. Fans can also look forward to more behind-the-scenes coverage, daily vlogs, and exclusive player interviews led by some of the regions' most recognisable faces in the gaming scene including Dannica Suazo, Tricia Potato, Nevz Gaming, and Victoria Cheng. "The importance of esports at the SEA Games is clear to see, and we want to make sure everyone knows how much it means to the players and teams through our support and coverage," explains Samson Oh, CEO of GosuGamers. Reaching beyond the horizon with the GosuGamers app In addition to its leading website, GosuGamers have also recently soft-launched a mobile app, designed to deliver its signature content seamlessly to fans via smart devices. Currently available on Apple Store and Google Play, the team is working on an Android version alongside the app features, such as the updates on live games, team rankings, contests, and breaking news. "Being in the SEA Games is not an easy feat. The GosuGamers mobile app aims to ensure that every aspiring esports players and teams can constantly update their fans of their moments and share the journey together seamlessly," Samson further says. Those interested in the Esports category of the SEA Games can stay updated via GosuGamers' social channels and the official website. About GosuGamers GosuGamers is a global media outlet and gaming community based in Malta, Malaysia, and Singapore. The brand was founded in 2002 and has since become a staple in the gaming industry with a focus on high-quality esports content and global presence across Europe, the U.S., and Southeast Asia. Presenting breaking news, regular editorial features, exclusive tournament reporting, and a host of weekly shows, GosuGamers offers an industry-leading insight into the biggest esports titles around the world and redefines the tournament viewing experience by incorporating data technology to provide fans with real-time data and match predictions in one centralised hub. To find out more about GosuGamers, visit: Website: https://www.gosugamers.net Twitter: https://twitter.com/GosuGamers Facebook: https://www.facebook.com/GosuGamers YouTube: https://www.youtube.com/user/gosugamersnet Instagram: https://www.instagram.com/gosupog TikTok: https://www.tiktok.com/@gosupog About FOTA FOTA is a AAA MOBA project owned by Meta DJINN Pte. Ltd. and based in Singapore, with a fantasy universe inhabited by many races throughout the universe. More than just a MOBA game platform, the development team has also introduced economic mechanisms and democracies through the DAO. About Djinn Guild Djinn Guild Games is a gaming community that brings gamers together to nurture talents, earn, and enjoy the fun of gaming. With a well-founded BOA, over 200 professionally trained gamers and more than 100 experienced scholars, Djinn Guild Games has a strong core team who prides themselves on experience in both traditional gaming and GameFi. About Tokenize Tokenize Xchange (Tokenize) is a Singapore-headquartered digital exchange platform that allows the trading of digital assets in a safe and secure environment with competitive fees. Founded in 2017, the platform currently allows the trading of over 80 currencies and is one of the few platforms in Singapore that allow users to buy digital currencies in Singapore dollars.
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DragonSB founder Thu Ha Vu confirmed to compensate 100% of damages incurred from the $10 million USD theft.
SINGAPORE, May 12, 2022 /PRNewswire/ -- DragonSB is a proud Vietnamese game, a successful example of the current growth of the MMORPG Metaverse genre. To present, DragonSB has maintained a strong rate of development and is recognized as one of the games worth investing in. However, this game was recently hacked, resulting in a loss of over $10 million USD. The incident caused outrage among the community, with so many users confused since they couldn't log in to the game and reported an error. However, the game has now reopened normally, and the prior game lock notification has been used to investigate and hunt down the hacker. Ms. Thu Ha Vu, the founder of DragonSB, also had a few words to share with the community following the above incident: "It is clear that DragonSB has faults, and the hack serves as a warning to us about security issues. The DragonSB team must be more careful." As a result, she gave comfort to the entire community: "We would also provide full support and payment to people harmed by the hack. To prevent future attacks, DragonSB will do more to developing trust and create more advanced security solutions. Above all, we want to highlight that the hack has no impact on the proposed roadmap, and that the process of launching the Mobile version is ongoing as usual." The community is extremely pleased with this "fair play", as seen by the spirit of enthusiasm and the firm announcement that the Founder would accept full responsibility. DragonSB's Dev team has also been praised for its professional and decisive handling of problems, such as instantly declaring a token refund and livestreaming to answer all questions. This kind of public compensation is highly valued by holders, unfortunately many projects can handle it gently. When gamers are constantly reassured by solid information such as steady talks with exchanges, responsible for paying tokens to users on gate.io, BSC and Terra, they entirely trust DragonSB. Along with it, the Dev team restarted the staking program, added liquidity, and fully paid members who participated in staking and farming. For DragonSB, this may be taken as a springboard for growth prospects, ranging from protection and reliability to how to organize management and upgrade the system. DragonSB has currently connected millions of gamers worldwide while also providing a possible source of funding for participants. The game is expected to debut a mobile game version with several exceptional features in May. Can DragonSB, with the directions that are projected to take the game to new heights following the hack, transform and grow the market valuation to 1 billion USD as expected, as another renowned Vietnamese game, Axie Infinity, once did?. For more info, visit link: https://dragon-sb.com/
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LG Display's Research Results Reaffirm OLED is the Optimal Gaming Display
SEOUL, May 12, 2022 /PRNewswire/ -- LG Display, the world's leading innovator of display technologies, unveiled its original research results on the ergonomic requirements of gaming displays, providing further evidence that OLED is the optimal gaming display. The research was introduced during the 2022 SID Business Conference at Display Week in San Jose, California. With demand for gaming displays surging since the onset of the pandemic, this move aims to establish new and reliable standards that can objectively judge the performance of gaming displays from the perspective of consumers. For the study, LG Display tested a handful of gamers to discover which display conditions provide the best gaming experiences. The players tested games of different genres on a wide spectrum of displays, from OLED and LCDs to flat and curved form factors. The study results show that a gamer's reaction time can be improved by using OLED, while a display's curvature provides a more immersive gaming experience. Reaction time is the time it takes for the user to recognize the input signal on the screen and then react to it by clicking their mouse or keyboard. Because a shorter reaction time increases the player's chances of winning, it is widely considered one of the most important factors when choosing a display. Study results reveal that an OLED's average reaction time was 50 milliseconds (ms) faster than an LCD. "Considering the gamer uses a special mouse or keyboard for gaming which usually provides speed advantage of 10 to 20ms, 50ms is critical in determining a game's outcome," said Dr. Jang Jin Yoo, Research Fellow and the head researcher of the study at LG Display. Curvature, which refers to the display's degree of curve, is another determinant factor of a gaming display's performance. The research study shows that 800R was selected as the display curvature to deliver the most immersive playing experience, although less curved screens performed slightly better for specific sports games. The curvature of today's gaming monitor screen ranges from 1800R to 4000R, while the study found out that the optimal viewing distance from the monitor display and the person for gaming is around 800mm. This suggests that gamers are missing out on the optimal curvature, and therefore the ultimate gaming experience, too. "Given its flexible nature, OLED can maximize a display's degree of curve to the highest level, which is impossible on an LCD," said Chang-han Kim, Vice President and Head of Gaming Display Business Division at LG Display. "Finding out that the optimal curvature for gaming is 800R was definitely an exciting discovery for us." With its leading reputation for introducing the world's first Rollable OLED TV in 2018, LG Display has now set its sights on developing game-changing displays that bring the next-level immersion gamers crave. The company is backing its recent studies, which identified a bendable display as the ideal gaming monitor, by developing a Bendable OLED display that leverages its flexible nature to safely bend from curved to straight on command while maintaining unmatched picture quality. "Bendable OLED display will be one of the most fun gaming devices that gamers will find in the market," remarked Kim. "We will continue to expand our gaming OLED lineup to offer new and exciting gaming experiences for our customers." LG Display is developing gaming-exclusive OLED panels with unique and distinctive form factors which shift between curved and flat states, and plans to collaborate with major global gaming brands to release the most innovative gaming displays in the future. Globally renowned for its excellent performance, OLED is considered the perfect choice for console or high-end PC games. It also boasts outstanding three-dimensional image quality across an infinite contrast ratio, the fastest response time, and a wide variable refresh rate that ranges from 40 Hz to 240 Hz. Another crucial aspect of gaming performance is eye health. LG Display's OLED displays boast the lowest blue light level in the industry, emitting 60% less than that of premium LCD displays of the same size. The OLED's exceptionally low blue light allows players to enjoy longer, flicker-free gaming experiences without side effects such as eye fatigue or headaches. About LG Display LG Display Co., Ltd. [NYSE: LPL, KRX: 034220] is the world's leading innovator of display technologies, including thin-film transistor liquid crystal and OLED displays. The company manufactures display panels in a broad range of sizes and specifications primarily for use in TVs, notebook computers, desktop monitors, and various other applications, including tablets and mobile devices. LG Display currently operates manufacturing facilities in Korea and China, and back-end assembly facilities in Korea, China, and Vietnam. The company has approximately 70,707 employees operating worldwide. For more news and information about LG Display, please visit www.lgdisplay.com. Media Contact: TaeHyun Tommy Jang, Assistant Manager, Global PR TeamEmail: tommy.jang@lgdisplay.com Lee Jean, Team Leader, Global PR TeamEmail: jean.lee@lgdisplay.com
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DouYu International Holdings Limited to Report First Quarter 2022 Financial Results on May 18, 2022
WUHAN, China, May 10, 2022 /PRNewswire/ -- DouYu International Holdings Limited ("DouYu" or the "Company") (Nasdaq: DOYU), a leading game-centric live streaming platform in China and a pioneer in the eSports value chain, today announced that it plans to release its unaudited financial results for the first quarter 2022 before the U.S. market opens on Wednesday, May 18, 2022. The earnings release will be available on the Company's investor relations website at http://ir.douyu.com/. DouYu's management will hold a conference call on Wednesday, May 18, 2022, at 7:00 A.M. Eastern Time or 7:00 P.M. Beijing Time to discuss the financial results. Listeners may access the call by dialing the following numbers: International: 1-412-317-6061 United States Toll Free: 1-888-317-6003 Mainland China Toll Free: 4001-206115 Hong Kong Toll Free: 800-963976 Singapore Toll Free: 800-120-5863 Conference ID: 7654821 The replay will be accessible through May 25, 2022, by dialing the following numbers: International: 1-412-317-0088 United States Toll Free: 1-877-344-7529 Access Code: 2324012 A live and archived webcast of the conference call will also be available at the Company's investor relations website at http://ir.douyu.com/. About DouYu International Holdings Limited Headquartered in Wuhan, China, DouYu International Holdings Limited (Nasdaq: DOYU) is a leading game-centric live streaming platform in China and a pioneer in the eSports value chain. DouYu operates its platform on both PC and mobile apps to bring users access to immersive and interactive games and entertainment livestreaming, a wide array of video and graphic contents, as well as opportunities to participate in community events and discussions. By nurturing a sustainable technology-based talent development system and relentlessly producing high-quality content, DouYu consistently delivers premium content through integration of livestreaming, video, graphics, and virtual communities with a primary focus on games, especially on eSports. This enables DouYu to continuously expand its user base and enhance its user experience. For more information, please see http://ir.douyu.com/. Investor Relations Contact Lingling KongDouYu International Holdings LimitedEmail: ir@douyu.tv Phone: +1 (646) 224-6934 Robin YangICR, LLC.Email: DouYu.IR@icrinc.com Phone: +1 (646) 224-6934 Media Relations Contact Lingling KongDouYu International Holdings LimitedEmail: pr_douyu@douyu.tv Phone: +1 (646) 308-1475 Edmond LococoICR, LLC.Email: DouYu.PR@icrinc.com Phone: +1 (646) 308-1475
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Mintegral Climbs the Ranks in Tenjin's 2022 Hyper-Casual Games Insights Report
GUANGZHOU, China, May 9, 2022 /PRNewswire/ -- Tenjin, a leading mobile marketing analytics platform has recently published the Q1 2022 Hyper-Casual Games Insights for Advertisers report and has ranked Mintegral 2nd in advertising spend for global hyper-casual games on iOS and rose to 3rd for advertising spend on Android. Tenjin's report compiled data on the distribution of iOS and Android's advertising spend across global hyper-casual games in Q1 2022, as well as ad spend on different platforms and regions. Mintegral Climbs the Ranks in Tenjin's 2022 Hyper-Casual Games Insights Report Mintegral ranked 2nd in advertising spend for global hyper-casual games on iOS and rose to 3rd in advertising spend on Android. Compared to Tenjin's previous report which showed an increase in Android ad spend, the Q1 2022 report shows ad spend distribution is now even. At the time, advertisers had more uncertainty surrounding iOS 14.5 and tended to be more cautious with their budget allocation. Mintegral remains strong on iOS, as the proprietary algorithm was not reliant on IDFA and instead utilized predictive modeling and dynamic creative optimization (DCO) to improve efficiency. There has also been a shake up in the Android rankings with Mintegral now entering the Top 3 across all operating systems and signifies our strength in the market. "We are honored to be included on Tenjin's Hyper-Casual Games Report as it demonstrates our ability to provide advertisers with sustainable growth across both iOS and Android," said Erick Fang, Mintegral CEO. "We will continue to grow stronger and provide cutting edge advertising technology that brings our clients and partners success in the global market." Thus far, Mintegral has helped over 5,000 worldwide advertisers and more than 50,000 leading apps to acquire high-quality users at scale in global markets including Europe, America, and the APAC region. Mintegral's clients include Voodoo, Outfit7, SayGames, iDreamSky, CrazyLabs, Lion Studio, Zynga, and Alictu, among others. Mintegral's data management platform has an average of more than 2.2 billion daily active users and over 100 billion daily ad requests. About MintegralMintegral is a mobile advertising platform that provides user acquisition, monetization, and creative solutions for mobile advertisers and publishers around the world. Mintegral's AI-driven, programmatic ad platform aims to bridge the gap between East and West through innovative products that include SSP, DSP, DMP, ad exchange, an advertiser self-serve platform, and creative automation platform powered by Mindworks, Mintegral's Creative Studio. Learn more at www.mintegral.com/en/
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HyperLive Entertainment Announces Plans to Launch a 'World-Class' Esports Academy in Singapore
SINGAPORE, May 9, 2022 /PRNewswire/ -- In a move that will excite gamers and Esports fans around the region, HyperLive Entertainment, a tech-enabled creative media agency based in Singapore, has announced its intentions to enter into the Esports scene. HyperLive has plans to build a 'world-class' Esports academy in Singapore to nurture the best Esports talents from the region and assemble a formidable team that can challenge for major honours internationally. The company aims to put Singapore's Esports scene firmly on the global map by attracting top Esports talents from the region and competing for world titles. Commenting on the developments, HyperLive CEO Dr. Sean Wong said, "As a forward-thinking and creative company, HyperLive is always looking to innovate and explore new opportunities in emerging markets. With Esports currently one of the world's fastest-growing industries, we are now at the cusp of significant advancement in terms of developing the metaverse and casual gaming audience, thus this makes Esports a natural fit with our regional expansion strategy." Singapore has established itself as one of the world's leading Esports destinations, having embraced developments in this modern industry in recent years. Over the years, the nation has hosted various major Esports events, including the first Asia Esports Festival late last year and the Free Fire World Series held in May 2021, an event garnering over 5 million peak viewers. Singapore is also set to attract world-class tournament organisers with the launch of the first Esports experiential centre in Kallang, equipped with world-class live-streaming capabilities and pro-Esports facilities. The nation's network infrastructure is also one of the best in the world, with its fixed internet connection at an astonishing 200.1 Mbps, almost three times the global average. Wong added, "Our vision is to complement Singapore's strategy to develop Esports and we want to build a lasting legacy, to nurture competitive teams that can rival the very best in Esports. The planned academy will be critical to our objectives. We hope to be at the forefront of the impending Esports revolution and put in place the foundation as we enter a new era in Singapore's Esports." HyperLive is currently hiring for its Esports department and will work with internationally renowned Esports organisations to accelerate and drive this ambitious project.
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G.I. JOE will be battling for survival in Puzzles &Survival for a limited time starting today
GUANGZHOU, China, May 6, 2022 /PRNewswire/ -- Puzzles & Survival, the smash-hit apocalyptic match-three game published by 37 GAMES, is playing host to an epic limited-time crossover event featuring G.I. JOE, the iconic action figure brand from Hasbro. Fan favorite heroes and villains from G.I. JOE and Cobra, including the legendary ninja characters Snake Eyes and Storm Shadow, will join the battle for survival against the ruthless zombie horde. Choose one side in this epic battle, glimpses of which can be seen in a recently released cinematic trailer, and help decide the future of humanity. jwplayer.key="3Fznr2BGJZtpwZmA+81lm048ks6+0NjLXyDdsO2YkfE=" jwplayer('myplayer1').setup({file: 'https://mma.prnasia.com/media2/1812193/CG____169.mp4', image: 'http://www.prnasia.com/video_capture/3748988_CN48988_1.jpg', autostart:'false', aspectratio: '16:9', stretching : 'fill', width: '600', height: '338'}); Decide Where Players' Loyalties Lie G.I. JOE fans won't want to miss out on the opportunity to join their favorite warriors in iconic battles in Puzzles and Survival. How fans do so is entirely up to them, as they will be able to decide for themselves where their allegiance lies. Easy as that may sound, that decision may prove somewhat challenging considering what both options entail. Should they ally with the good guys, they'll find themselves teamed up with the eponymous hero, the mysterious ninja-commando known as Snake Eyes, and Scarlett, the highly competitive field operative. However, they will also find themselves battling against Cobra, the overpowering force of evil whose ranks boast the remarkable ninja otherwise known as Storm Shadow and Baroness, the master of manipulation. Great Tribulations Await The heat of battle is often enough to make anyone reassess their loyalties. This sentiment will doubtless ring true as G.I. JOE and Cobra find themselves embroiled in exciting battles during this extraordinary crossover event. Indeed, surprises await those involved in the G.I. JOE mission bid to destroy H.I.S.S. tanks that suddenly pop up out of nowhere as Cobra's Scheme comes to fruition. Likewise, there is no telling the toll that will be incurred as G.I. JOE and Cobra bid to obtain the crucial nanohexes needed to detonate tiles during the Base Trial, with the G.I. JOE themed marching skins and stickers available to win. Obtain and Claim the Free Supplies Needed to Crush Cobra Players will need all the supplies they can get their hands on if they're to succeed in battle, that's why the G.I. JOE base will be opened to anyone who enlists. Here they can obtain the G.I. JOE-themed crates, keys, and supplies that will be crucial to their success in both the previously-mentioned events and in their bid to Restore G.I. JOE's Memory, Decode Intelligence, and Colorize G.I. JOE's Poster, all of which will be crucial to the war effort. However, before players can do that, they may need a helping hand when they initially join the war between G.I. JOE and Cobra. For that reason, it might be wise to claim a few free supplies by using the "PNSJOE" and "PNSCOBRA" gift codes before they engage the enemy. Meanwhile, don't forget to follow the official Puzzles & Survival Facebook fan page to stay up to date with the latest news, updates, and giveaways, all of which could prove crucial in their bid to do what they think is right. Download: https://pse.is/gijoepns02engOfficial Fan Page: https://www.facebook.com/PnS.37Games G.I. JOE is a trademark of Hasbro used with permission.About HasbroHasbro (NASDAQ: HAS) is a global play and entertainment company committed to making the world a better place for all children, fans and families. Hasbro delivers immersive brand experiences for global audiences through consumer products, including toys and games; entertainment through eOne, its independent studio; and gaming, led by the team at Wizards of the Coast, an award-winning developer of tabletop and digital games best known for fantasy franchises MAGIC: THE GATHERING and DUNGEONS & DRAGONS.The Company's unparalleled portfolio of approximately 1,500 brands includes MAGIC: THE GATHERING, NERF, MY LITTLE PONY, TRANSFORMERS, PLAY-DOH, MONOPOLY, BABY ALIVE, DUNGEONS & DRAGONS, POWER RANGERS, PEPPA PIG and PJ MASKS, as well as premier partner brands. For the past decade, Hasbro has been consistently recognized for its corporate citizenship, including being named one of the 100 Best Corporate Citizens by 3BL Media and one of the World's Most Ethical Companies by Ethisphere Institute. Important business and brand updates are routinely shared on our Investor Relations website, Newsroom and social channels (@Hasbro on Twitter, Instagram, Facebook and LinkedIn).
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Pwnk - The next generation interactive entertainment
BEIJING, May 5, 2022 /PRNewswire/ -- Pwnk went alive on Steam at the end of April. One of the game modes, Pwnk Royale, is a mini-game battle royale for streamers to play with their viewer community. Viewers participate the real-time squid-game like streaming based gameshow, each round one-fifth participants will be eliminated, and the final winner will take all the points after 30 minutes challenge. The new way to engage streaming audience instantly created a big buzz in the streaming world, more than a thousand streamers have joined Pwnk discord community since then. Pwnk went alive on Steam at the end of April With game modes like Pwnk Royale, Pwnk help streamers engage their live audiences much more easily, Pwnk also makes creating interactive live content a simple task for everyone. For audiences, they are no longer just watching content, but can also participate, contribute and even become the center focus in their favorite streamer's game shows. Pwnk is an interactive MMO game center tailor-made for streamer community. Pwnk world is a fantasy theme park, built on a mysterious Pwnk archipelago. There are 8 different interactive game modes with the first Steam launch. 4 new interactive games will be released every month according to the developer of Pwnk. All these interactive games will enable streamers to play with their communities via platform chat. Viewers have no need to download any additional clients, but only to enter the command input using simple comments. Pwnk went alive on Steam at the end of April Pwnk is currently collaborating with the top live streaming platforms such as Twitch and Meta to create next generation interactive entertainment content, supporting millions of players to play game on video stream. Soon after the launch on steam, Pwnk received overwhelming positive responses on Steam from streamer community. Streamers recommend Pwnk as one of first native interactive cloud games. Interactivity is the most important factor which separates gaming and streaming from traditional entertainment, the interaction itself becomes the driving factor for participants to enjoy the interactive games. Comparing to traditional entertainment format like videos, Pwnk aims to provide the next generation entertainment experience focusing on interactivity. Starscape Pte. Ltd, incorporated in Singapore, is the team behind Pwnk. Starscape has a multinational team, with dedicated veterans from Meta (ex Facebook), Bytedance, Tencent TiMi Studio and Funplus with decades of experience on game development and social media platforms. For investment inquiries, please contact feedback@starscape.live
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G.I. JOE is Coming to Puzzles & Survival
GUANGZHOU, China, May 2, 2022 /PRNewswire/ -- Puzzles & Survival, a zombie-themed match-3 strategy game launched by 37 GAMES, announced today that it will team up with Hasbro, Inc. to bring G.I. JOE to the game on May 6. Upon its launch in May, this limited-time collaborative event will pit players against the evil forces of Cobra over the course of six exclusive events, all while still striving to defeat the zombies that have become part and parcel of daily life. In doing so, players will have the chance to engage with the characters that have made G.I. JOE such an iconic action hero brand and enjoy the stunning visual effects and thrilling gameplay that the limited-time event will offer. Of course, such an exciting crossover event would never have been possible had it not been for the extraordinary dedication of both the game's fans and developers. Their zeal and enthusiasm are doubtless responsible for the game being the subject of many App Store and Google Play recommendations, which cumulatively led to the game being downloaded over 38 million times. As if that wasn't enough, the game also won the SensorTower APAC Best Gameplay Innovation Award in 2021, a well-deserved feat in light of the remarkably innovative spirit that compelled the developers to partner with household names in the first place. Now you know that G.I. JOE is coming to Puzzles and Survival- and, after all, knowing is half the battle- make sure not to miss out on the opportunity to save the world this May. In the meantime, be sure to download the game now and enter the gift code [PNSGIJOE]. Download: https://pse.is/gijoepns01eng Official Fan Page: https://www.facebook.com/PnS.37Games G.I. JOE is a trademark of Hasbro used with permission. About Hasbro Hasbro (NASDAQ: HAS) is a global play and entertainment company committed to making the world a better place for all children, fans and families. Hasbro delivers immersive brand experiences for global audiences through consumer products, including toys and games; entertainment through eOne, its independent studio; and gaming, led by the team at Wizards of the Coast, an award-winning developer of tabletop and digital games best known for fantasy franchises MAGIC: THE GATHERING and DUNGEONS & DRAGONS. The Company's unparalleled portfolio of approximately 1,500 brands includes MAGIC: THE GATHERING, NERF, MY LITTLE PONY, TRANSFORMERS, PLAY-DOH, MONOPOLY, BABY ALIVE, DUNGEONS & DRAGONS, POWER RANGERS, PEPPA PIG and PJ MASKS, as well as premier partner brands. For the past decade, Hasbro has been consistently recognized for its corporate citizenship, including being named one of the 100 Best Corporate Citizens by 3BL Media and one of the World's Most Ethical Companies by Ethisphere Institute. Important business and brand updates are routinely shared on our Investor Relations website, Newsroom and social channels (@Hasbro on Twitter, Instagram, Facebook and LinkedIn).
