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Vipshop Reports Unaudited Fourth Quarter and Full Year 2023 Financial Results
Conference Call to Be Held at 7:30 A.M. U.S. Eastern Time on February 28, 2024 GUANGZHOU, China, Feb. 28, 2024 /PRNewswire/ -- Vipshop Holdings Limited (NYSE: VIPS), a leading online discount retailer for brands in China ("Vipshop" or the "Company"), today announced its unaudited financial results for the quarter and full year ended December 31, 2023. Fourth Quarter and Full Year 2023 Highlights Total net revenues for the fourth quarter of 2023 increased by 9.2% year over year to RMB34.7 billion (US$4.9 billion) from RMB31.8 billion in the prior year period. Total net revenues for the full year of 2023 increased by 9.4% year over year to RMB112.9 billion (US$15.9 billion) from RMB103.2 billion in the prior year. GMV for the fourth quarter of 2023 increased by 21.9% year over year to RMB66.4 billion from RMB54.4 billion in the prior year period. GMV for the full year of 2023 increased by 18.7% year over year to RMB208.0 billion from RMB175.2 billion in the prior year. Gross profit for the fourth quarter of 2023 increased by 19.3% year over year to RMB8.2 billion (US$1.2 billion) from RMB6.9 billion in the prior year period. Gross profit for the full year of 2023 increased by 19.0% year over year to RMB25.7 billion (US$3.6 billion) from RMB21.6 billion in the prior year. Net income attributable to Vipshop's shareholders for the fourth quarter of 2023 increased by 32.2% year over year to RMB3.0 billion (US$415.8 million) from RMB2.2 billion in the prior year period. Net income attributable to Vipshop's shareholders for the full year of 2023 increased by 28.9% year over year to RMB8.1 billion (US$1.1 billion) from RMB6.3 billion in the prior year. Non-GAAP net income attributable to Vipshop's shareholders for the fourth quarter of 2023 increased by 43.4% year over year to RMB3.2 billion (US$450.5 million) from RMB2.2 billion in the prior year period. Non-GAAP net income attributable to Vipshop's shareholders for the full year of 2023 increased by 39.1% year over year to RMB9.5 billion (US$1.3 billion) from RMB6.8 billion in the prior year. The number of active customers for the fourth quarter of 2023 increased by 2.3% year over year to 48.5 million from 47.5 million in the prior year period. The number of active customers for the full year of 2023 increased by 3.9% year over year to 87.4 million from 84.1 million in the prior year. Total orders for the fourth quarter of 2023 increased by 7.2% year over year to 234.3 million from 218.5 million in the prior year period. Total orders for the full year of 2023 increased by 9.8% year over year to 812.3 million from 739.5 million in the prior year. Mr. Eric Shen, Chairman and Chief Executive Officer of Vipshop, stated, "We rounded off 2023 with a set of results well beyond our expectations, as we successfully executed our merchandising strategy to seize opportunities in value-based spending amid strong seasonal demand. Apparel categories continued to fuel our growth and outperformed the industry average all year long, which helped us cross RMB200 billion in total annual GMV for the first time in our history. Our strategy focusing on discount retail for brands pays off. We have made great progress in merchandise expansion and value-for-money perception. This has been instrumental in increased customer loyalty and double-digit growth in active Super VIP members. Looking ahead, we are confident that our sustainable business model will lead us to longer-term growth." Mr. Mark Wang, Chief Financial Officer of Vipshop, further commented, "We delivered another quarter of solid financial performance, ending 2023 as the most profitable year in our history. Benefiting from a number of efficiency improvement initiatives last year, we are acting faster, pushing forward company priorities, and building greater synergies. We look forward to maintaining operating discipline while investing in areas that can better engage with brand partners and customers. Moreover, our board of directors approved an annual cash dividend policy, demonstrating our confidence in future growth and earnings as well as long-term commitment to shareholder value creation." Fourth Quarter 2023 Financial Results REVENUES Total net revenues for the fourth quarter of 2023 increased by 9.2% year over year to RMB34.7 billion (US$4.9 billion) from RMB31.8 billion in the prior year period, primarily attributable to the growth in active customers and spending driven by the recovery in consumption of discretionary categories. GROSS PROFIT Gross profit for the fourth quarter of 2023 increased by 19.3% year over year to RMB8.2 billion (US$1.2 billion) from RMB6.9 billion in the prior year period. Gross margin for the fourth quarter of 2023 increased to 23.7% from 21.7% in the prior year period. OPERATING EXPENSES Total operating expenses for the fourth quarter of 2023 increased by 4.8% year over year to RMB4.9 billion (US$685.8 million) from RMB4.6 billion in the prior year period. As a percentage of total net revenues, total operating expenses for the fourth quarter of 2023 decreased to 14.0% from 14.6% in the prior year period. Fulfillment expenses for the fourth quarter of 2023 increased by 17.0% year over year to RMB2.5 billion (US$355.7 million) from RMB2.2 billion in the prior year period. As a percentage of total net revenues, fulfillment expenses for the fourth quarter of 2023 was 7.3%, as compared with 6.8% in the prior year period. Marketing expenses for the fourth quarter of 2023 decreased by 10.7% year over year to RMB843.2 million (US$118.8 million) from RMB944.1 million in the prior year period. As a percentage of total net revenues, marketing expenses for the fourth quarter of 2023 decreased to 2.4% from 3.0% in the prior year period. Technology and content expenses for the fourth quarter of 2023 increased by 21.5% year over year to RMB496.4 million (US$69.9 million) from RMB408.5 million in the prior year period. As a percentage of total net revenues, technology and content expenses for the fourth quarter of 2023 was 1.4%, as compared with 1.3% in the prior year period. General and administrative expenses for the fourth quarter of 2023 decreased by 11.7% year over year to RMB1.0 billion (US$141.5 million) from RMB1.1 billion in the prior year period. As a percentage of total net revenues, general and administrative expenses for the fourth quarter of 2023 decreased to 2.9% from 3.6% in the prior year period. INCOME FROM OPERATIONS Income from operations for the fourth quarter of 2023 increased by 46.2% year over year to RMB3.7 billion (US$516.7 million) from RMB2.5 billion in the prior year period. Operating margin for the fourth quarter of 2023 increased to 10.6% from 7.9% in the prior year period. Non-GAAP income from operations for the fourth quarter of 2023, which excluded share-based compensation expenses, increased by 42.5% year over year to RMB4.0 billion (US$556.8 million) from RMB2.8 billion in the prior year period. Non-GAAP operating margin for the fourth quarter of 2023 increased to 11.4% from 8.7% in the prior year period. NET INCOME Net income attributable to Vipshop's shareholders for the fourth quarter of 2023 increased by 32.2% year over year to RMB3.0 billion (US$415.8 million) from RMB2.2 billion in the prior year period. Net margin attributable to Vipshop's shareholders for the fourth quarter of 2023 increased to 8.5% from 7.0% in the prior year period. Net income attributable to Vipshop's shareholders per diluted ADS for the fourth quarter of 2023 increased to RMB5.35 (US$0.75) from RMB3.66 in the prior year period. Non-GAAP net income attributable to Vipshop's shareholders for the fourth quarter of 2023, which excluded (i) share-based compensation expenses, (ii) impairment loss of investments, (iii) investment (gain) loss and revaluation of investments excluding dividends, (iv) reconciling items on the share of equity method investments, and (v) tax effects on non-GAAP adjustments, increased by 43.4% year over year to RMB3.2 billion (US$450.5 million) from RMB2.2 billion in the prior year period. Non-GAAP net margin attributable to Vipshop's shareholders for the fourth quarter of 2023 increased to 9.2% from 7.0% in the prior year period. Non-GAAP net income attributable to Vipshop's shareholders per diluted ADS for the fourth quarter of 2023 increased to RMB5.79 (US$0.82) from RMB3.65 in the prior year period. For the quarter ended December 31, 2023, the Company's weighted average number of ADSs used in computing diluted income per ADS was 551,902,525. BALANCE SHEET AND CASH FLOW As of December 31, 2023, the Company had cash and cash equivalents and restricted cash of RMB26.3 billion (US$3.7 billion) and short term investments of RMB2.0 billion (US$279.3 million). For the quarter ended December 31, 2023, net cash generated from operating activities was RMB8.7 billion (US$1.2 billion), and free cash flow, a non-GAAP measurement of liquidity, was as follows: For the three months ended Dec 31, 2022 Dec 31, 2023 Dec 31, 2023 RMB'000 RMB'000 US$'000 Net cash generated from operating activities 6,525,597 8,696,378 1,224,859 Reconciling items: Net impact from internet financing activities 243,833 53,725 7,567 Capital expenditures (587,100) (1,398,506) (196,975) Free cash inflow 6,182,330 7,351,597 1,035,451 Full Year 2023 Financial Results Total net revenues for the full year of 2023 increased by 9.4% year over year to RMB112.9 billion (US$15.9 billion) from RMB103.2 billion in the prior year. Gross profit for the full year of 2023 increased by 19.0% year over year to RMB25.7 billion (US$3.6 billion) from RMB21.6 billion in the prior year. Gross margin for the full year of 2023 increased to 22.8% from 21.0% in the prior year. Income from operations for the full year of 2023 increased by 46.9% year over year to RMB9.1 billion (US$1.3 billion) from RMB6.2 billion in the prior year. Operating margin for the full year increased to 8.1% from 6.0% in the prior year. Non-GAAP income from operations for the full year of 2023, which excluded share-based compensation expenses, increased by 43.3% year over year to RMB10.6 billion (US$1.5 billion) from RMB7.4 billion in the prior year. Non-GAAP operating margin for the full year of 2023 increased to 9.4% from 7.2% in the prior year. Net income attributable to Vipshop's shareholders for the full year of 2023 increased by 28.9% year over year to RMB8.1 billion (US$1.1 billion) from RMB6.3 billion in the prior year. Net margin attributable to Vipshop's shareholders for the full year of 2023 increased to 7.2% from 6.1% in the prior year. Net income attributable to Vipshop's shareholders per diluted ADS for the full year of 2023 increased to RMB14.42 (US$2.03) from RMB9.83 in the prior year. Non-GAAP net income attributable to Vipshop's shareholders for the full year of 2023, which excluded (i) share-based compensation expenses, (ii) impairment loss of investments, (iii) investment (gain) loss and revaluation of investments excluding dividends, (iv) reconciling items on the share of equity method investments, and (v) tax effects on non-GAAP adjustments, increased by 39.1% year over year to RMB9.5 billion (US$1.3 billion) from RMB6.8 billion in the prior year. Non-GAAP net margin attributable to Vipshop's shareholders for the full year of 2023 increased to 8.4% from 6.6% in the prior year. Non-GAAP net income attributable to Vipshop's shareholders per diluted ADS for the full year of 2023 increased to RMB16.90 (US$2.38) from RMB10.67 in the prior year. For the full year of 2023, the Company's weighted average number of ADSs used in computing diluted earnings per ADS was 562,761,990. For the full year of 2023, net cash generated from operating activities was RMB14.4 billion (US$2.0 billion), and free cash flow, a non-GAAP measurement of liquidity, was as follows: For the trailing twelve months ended Dec 31, 2022 Dec 31, 2023 Dec 31, 2023 RMB'000 RMB'000 US$'000 Net cash generated from operating activities 10,519,692 14,414,513 2,030,242 Reconciling items: Net impact from internet financing activities 408,550 104,964 14,784 Capital expenditures (3,102,589) (5,230,737) (736,734) Free cash inflow 7,825,653 9,288,740 1,308,292 Share Repurchase Program During the quarter ended December 31, 2023, the Company repurchased US$3.4 million of its ADSs under its current US$1 billion share repurchase program, which is effective through March 2025. As of December 31, 2023, the Company had an unutilized amount of US$548.1 million under this program. Annual Dividend Policy and Declaration of 2023 Dividend On February 22, 2024, the board of directors of the Company adopted an annual cash dividend policy, under which the Company may choose to declare and distribute a cash dividend each year in accordance with the memorandum and articles of association of the Company and the applicable laws and regulations. Under the policy, the board of directors of the Company reserves the discretion relating to the determination to make dividend distributions and the amount of such distributions in any particular year, depending on the Company's operations and earnings, cash flow, financial condition, and other relevant factors. Accordingly, on the same day, for the fiscal year of 2023, the board of directors of the Company declared a dividend of US$2.15 per ordinary share, or US$0.43 per ADS, to holders of ordinary shares and holders of ADSs of record as of the close of business on March 15, 2024. The aggregate amount of cash dividends to be paid will be approximately US$250 million, which is expected to be paid on April 8, 2024. Holders of the Company's ADSs will receive the cash dividends through the depositary, Deutsche Bank Trust Company Americas, subject to the terms of the deposit agreement. Business Outlook For the first quarter of 2024, the Company expects its total net revenues to be between RMB27.5 billion and RMB28.9 billion, representing a year-over-year increase of approximately 0% to 5%. These forecasts reflect the Company's current and preliminary view on the market and operational conditions, which is subject to change. Exchange Rate The Company's business is primarily conducted in China and the significant majority of revenues generated are denominated in Renminbi. This announcement contains currency conversions of Renminbi amounts into U.S. dollars solely for the convenience of the reader. Unless otherwise noted, all translations from Renminbi to U.S. dollars are made at a rate of RMB7.0999 to US$1.00, the effective noon buying rate on December 29, 2023 as set forth in the H.10 statistical release of the Federal Reserve Board. No representation is made that the Renminbi amounts could have been, or could be, converted, realized or settled into U.S. dollars at that rate on December 29, 2023, or at any other rate. Conference Call Information The Company will hold a conference call on Wednesday, February 28, 2024 at 7:30 am U.S. Eastern Time, 8:30 pm Beijing Time to discuss the financial results. All participants wishing to join the conference call must pre-register online using the link provided below. Registration Link: https://register.vevent.com/register/BIcb871fc012e045edb5fd02b7c2874334 Once pre-registration has been completed, each participant will receive dial-in numbers and a unique access PIN via email. To join the conference, participants should use the dial-in details followed by the PIN code. A live webcast of the earnings conference call can be accessed at https://edge.media-server.com/mmc/p/rvsmyjg9. An archived webcast will be available at the Company's investor relations website at http://ir.vip.com. About Vipshop Holdings Limited Vipshop Holdings Limited is a leading online discount retailer for brands in China. Vipshop offers high quality and popular branded products to consumers throughout China at a significant discount to retail prices. Since it was founded in August 2008, the Company has rapidly built a sizeable and growing base of customers and brand partners. For more information, please visit https://ir.vip.com/. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Vipshop's strategic and operational plans, contain forward-looking statements. Vipshop may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Vipshop's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Vipshop's goals and strategies; Vipshop's future business development, results of operations and financial condition; the expected growth of the online discount retail market in China; Vipshop's ability to attract customers and brand partners and further enhance its brand recognition; Vipshop's expectations regarding needs for and market acceptance of flash sales products and services; competition in the discount retail industry; the potential impact of the COVID-19 to Vipshop's business operations and the economy in China and elsewhere generally; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Vipshop's filings with the SEC. All information provided in this press release is as of the date of this press release, and Vipshop does not undertake any obligation to update any forward-looking statement, except as required under applicable law. Use of Non-GAAP Financial Measures The condensed consolidated financial information is derived from the Company's unaudited interim condensed consolidated financial statements prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"), except that comparative consolidated statements of income and cash flows for the period presented and detailed footnote disclosures required by Accounting Standards Codification 270, Interim Reporting ("ASC270"), have been omitted. Vipshop uses non-GAAP net income attributable to Vipshop's shareholders, non-GAAP net income attributable to Vipshop's shareholders per diluted ADS, non-GAAP income from operations, non-GAAP operating margin, non-GAAP net margin attributable to Vipshop's shareholders, and free cash flow, each of which is a non-GAAP financial measure. For the periods presented in this press release, non-GAAP net income attributable to Vipshop's shareholders is net income attributable to Vipshop's shareholders excluding (i) share-based compensation expenses, (ii) impairment loss of investments, (iii) investment (gain) loss and revaluation of investments excluding dividends, (iv) reconciling items on the share of equity method investments, and (v) tax effects on non-GAAP adjustments. Non-GAAP net income attributable to Vipshop's shareholders per diluted ADS is computed using non-GAAP net income attributable to Vipshop's shareholders divided by weighted average number of diluted ADS outstanding for computing diluted earnings per ADS. Non-GAAP income from operations is income from operations excluding share-based compensation expenses. Non-GAAP operating margin is non-GAAP income from operations as a percentage of total net revenues. Non-GAAP net margin attributable to Vipshop's shareholders is non-GAAP net income attributable to Vipshop's shareholders as a percentage of total net revenues. Free cash flow is net cash from operating activities adding back the impact from internet financing activities and less capital expenditures, which include purchase and deposits of property and equipment and land use rights. Impact from internet financing activities added back or deducted from free cash flow contains changes in the balances of financial products, which are primarily consumer financing and supplier financing that the Company provides to customers and suppliers. The Company believes that separate analysis and exclusion of the non-cash impact of (i) share-based compensation expenses, (ii) impairment loss of investments, (iii) investment (gain) loss and revaluation of investments excluding dividends, (iv) reconciling items on the share of equity method investments, and (v) tax effects on non-GAAP adjustments 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 these non-GAAP financial measures for planning, forecasting and measuring results against the forecast. The Company believes that non-GAAP financial measures are useful supplemental information for investors and analysts to assess its operating performance without the effect of (i) share-based compensation expenses, (ii) impairment loss of investments, (iii) investment (gain) loss and revaluation of investments excluding dividends, (iv) reconciling items on the share of equity method investments, and (v) tax effects on non-GAAP adjustments. Free cash flow enables the Company to assess liquidity and cash flow, taking into account the impact from internet financing activities and the financial resources needed for the expansion of fulfillment infrastructure, technology platform and Shan Shan Outlets. Share-based compensation expenses have been and will continue to be significant recurring expenses in its business. 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. One of the key limitations of free cash flow is that it does not represent the residual cash flow available for discretionary expenditures. 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 "Vipshop Holdings Limited Reconciliations of GAAP and Non-GAAP Results" at the end of this release. Investor Relations Contact Tel: +86 (20) 2233-0732Email: IR@vipshop.com  "Gross merchandise value (GMV)" is defined as the total Renminbi value of all products and services sold through the Company's online sales business, online marketplace platform, Shan Shan Outlets, and other offline stores during the relevant period, including through the Company's websites and mobile apps, third-party websites and mobile apps, Shan Shan Outlets, and other offline stores, which were fulfilled by either the Company or its third-party merchants, regardless of whether or not the goods were delivered or returned. GMV includes shipping charges paid by buyers to sellers. For prudent considerations, the Company does not consider products or services to be sold if the relevant orders were placed and canceled pre-shipment and only included orders that left the Company's or other third-party vendors' warehouses.  Non-GAAP net income attributable to Vipshop's shareholders is a non-GAAP financial measure, which, for the periods presented in this press release, is defined as net income attributable to Vipshop's shareholders excluding (i) share-based compensation expenses, (ii) impairment loss of investments, (iii) investment (gain) loss and revaluation of investments excluding dividends, (iv) reconciling items on the share of equity method investments, and (v) tax effects on non-GAAP adjustments.  "Active customers" is defined as registered members who have purchased from the Company's self-operated online sales business or the Company's online marketplace platforms, excluding those who made their purchases from the Company's online stores operated at third-party platforms, at least once during the relevant period. Beginning in the fourth quarter of 2023, the Company has updated its definition of "active customers," excluding the registered members who made their purchases from the Company's online stores operated at third-party platforms. The active customer figures for the historical periods presented in this press release have been retrospectively adjusted accordingly.  "Total orders" is defined as the total number of orders placed during the relevant period, including the orders for products and services sold through the Company's online sales business and the Company's online marketplace platforms (excluding, for the avoidance of doubt, orders from the Company's offline stores and outlets), net of orders returned.  Non-GAAP income from operations is a non-GAAP financial measure, which is defined as income from operations excluding share-based compensation expenses.  Non-GAAP operating margin is a non-GAAP financial measure, which is defined as non-GAAP income from operations as a percentage of total net revenues.  "ADS" means American depositary share, each of which represents 0.2 Class A ordinary share.  Non-GAAP net margin attributable to Vipshop's shareholders is a non-GAAP financial measure, which is defined as non-GAAP net income attributable to Vipshop's shareholders, as a percentage of total net revenues.  Non-GAAP net income attributable to Vipshop's shareholders per diluted ADS is a non-GAAP financial measure, which is defined as non-GAAP net income attributable to Vipshop's shareholders, divided by the weighted average number of diluted ADSs outstanding for computing diluted earnings per ADS.  Free cash flow is a non-GAAP financial measure, which is defined as net cash from operating activities adding back the impact from internet financing activities and less capital expenditures, which include purchase and deposits of property and equipment and land use rights.  Net impact from internet financing activities represents net cash flow relating to the Company's financial products, which are primarily consumer financing and supplier financing that the Company provides to its customers and suppliers. Vipshop Holdings Limited Unaudited Condensed Consolidated Statements of Income and Comprehensive Income (In thousands, except for share and per share data) Three Months Ended Twelve Months Ended December 31, 2022 December 31, 2023 December 31, 2023 December 31, 2022 December 31, 2023 December 31, 2023 RMB'000 RMB'000 USD'000 RMB'000 RMB'000 USD'000 Product revenues 29,914,304 32,435,188 4,568,401 97,250,078 105,613,485 14,875,348 Other revenues (1) 1,843,456 2,239,288 315,397 5,902,411 7,242,535 1,020,090 Total net revenues 31,757,760 34,674,476 4,883,798 103,152,489 112,856,020 15,895,438 Cost of revenues (24,857,565) (26,441,622) (3,724,225) (81,536,409) (87,135,128) (12,272,726) Gross profit 6,900,195 8,232,854 1,159,573 21,616,080 25,720,892 3,622,712 Operating expenses: Fulfillment expenses (2) (2,157,586) (2,525,204) (355,668) (7,247,210) (8,262,004) (1,163,679) Marketing expenses (944,051) (843,208) (118,763) (2,831,316) (3,242,215) (456,656) Technology and content expenses (408,543) (496,442) (69,922) (1,605,422) (1,767,530) (248,951) General and administrative expenses (1,137,858) (1,004,539) (141,486) (4,459,518) (4,146,568) (584,032) Total operating expenses (4,648,038) (4,869,393) (685,839) (16,143,466) (17,418,317) (2,453,318) Other operating income 257,062 304,818 42,933
Spring Festival consumption demonstrates resilience, vitality of Chinese economy
BEIJING, Feb. 28, 2024 /PRNewswire/ -- A report from People's Daily During this year's Spring Festival holiday, there has been a significant increase in cross-regional personnel movement across China, and the consumer market was full of vitality. This has presented the resilience and vitality of the Chinese economy to the international society. Hundreds of millions of people took trains, planes, and other means of transportation to reunite with their families and friends, and it reflected the dynamism of the Chinese economy. It is believed that the Spring Festival travel rush reflected the vitality of China's economic development, and the growing consumer demand brought about by the large-scale movement of the people has injected strong momentum into a good start for the Chinese economy this year. The Spring Festival, or Chinese Lunar New Year, is one of the most important traditional festivals in China and serves as a key indicator of consumption. During the Spring Festival holiday this year, both domestic tourism and total expenditure in China have seen significant year-on-year increases. The national box office and number of moviegoers have set new records for the same period. The average daily sales revenue in service consumption-related industries across the country has grown by 52.3 percent compared to the previous year. This showcases a dynamic China to the world, bolstering international confidence in the country's economic growth. The international community has been closely following China's consumption data during the Spring Festival, with many noting that tourism and consumption during the holiday this year have exceeded pre-pandemic levels, further indicating an improvement in consumption in the world's second-largest economy. Some said that the surge in consumer spending and travel during the holiday gave a boost to the Chinese economy. The just-concluded Spring Festival holiday also mirrored China's open cooperation with other countries. Freight trains were running between China and Europe and between China and Laos, while bustling large ports operated 24/7 during the holiday. Enterprises were working at full capacity to produce foreign trade orders, and over 1,800 cross-border e-commerce overseas warehouses spread across more than 220 countries and regions. As China implemented a visa-free policy for a larger circle of friends, inbound and outbound tourism has been on the rise. During the Spring Festival holiday, China's border inspection agencies nationwide saw nearly 13.52 million entries and exits by Chinese and foreign nationals, with an average of 1.69 million per day, a 2.8-fold increase compared to the same period in 2023. The two-way flow of Chinese and foreign tourists during the Spring Festival holiday has led to a peak in global tourism consumption, which serves as a vivid example of China's win-win cooperation with other countries. As the Spring Festival spread joy and harmony to the world, the Chinese economy also brought hope and warmth. Against the multiple uncertainties in the global economy, China's GDP grew by 5.2 percent year-on-year in 2023, demonstrating a stable and positive trend. Recently, several global financial institutions have released economic outlook reports for 2024, all of which believe that the foundation for China's economic stabilization and recovery has been further consolidated. They expected that continuous internal driving forces, such as technological innovation and industrial transformation, would be unleashed. Singaporean President Tharman Shanmugaratnam recently pointed out that despite challenges, China's fundamental strength is beyond doubt and continues to grow and consolidate. He believed that China possesses a robust manufacturing system and export competitiveness, as well as a wealth of talent including engineers, scientists, and skilled labor forces. These factors are considered China's significant advantages, he added. The vibrant Spring Festival economy has set a positive tone for China's economy in the new year. China will comprehensively implement the new development philosophy, accelerate the building of a new development pattern, promote high-quality development, and consolidate and enhance the positive momentum of economic recovery. As pointed out by Spanish market analyst and columnist Julio Ceballos, as long as China persists in deepening reforms, continuously expanding opening up, better leveraging its advantages in education and technological innovation, and fully tapping into the potential of the domestic market, the Chinese economy will have strong confidence in its development.
17sing hosts Y2K Ballad Carnival event,Andrew Tan and Chang Hsiu Ching recreate the golden song era
TAIPEI, Feb. 28, 2024 /PRNewswire/ -- The Y2K theme is trending, with elements from fashion and music millennium continue to heat up.On February 26th, 17sing invites Andrew Tan and Chang Hsiu Ching to jointly create the Y2K Ballad Carnival online event, which will bring back the golden memories of the music,and singers will play games with fans, which attracted a lot of attention from the Internet. As one of the hottest singers in the Y2K era, Andrew Tan has had a wonderful achievement. In the early days of his career, his song "Tian Hou" became a hit songs all over the country. This song has become a the most popular song in KTV and has been on the kkbox charts for more than 400 days. After that, Andrew Tan released many classic songs.In March this year, Andrew Tan will release his eighth album, let's wait and see! Chang Hsiu Ching is one of the most important role in the Taiwanese music. She has released 29 albums and sung countless classic Taiwanese songs, which are the youthful memories of all Taiwanese.She is called by fans as known as the "Queen of Bitter Love Songs" and the "Spice Girl Diva". She is also a vivid character who is full of personality, and she is good at imitating her close friends. In 1994, she won the Best Female Vocalist Award for her song "I Want to Alter My Feelings". The Y2K Ballad Carnival will be held from 2/26-3/24, and will be divided into two stages, the Singer Contest and the Family Contest. Users can participate in the Singer Contest by singing their idol's songs, and the top users will be able to sing for their idols on live, as well as receive an autographed by the idols! The Family Contest is based on the families in the 17sing, and they compete for popularity through the activities in the family singing room. Families with high popularity will be awarded with an exclusive customized blessing video from the artist and interact with the idol on live! Fans can also vote for the song they want their idol to sing at the event, and the artists will perform the top-voted song live! 3/10 and 3/24 are the live streaming of Andrew Tan and Chang Hsiu Ching. These two singers will come to 17sing live room to sing their classic songs, recreating their classic looks from the peak of the golden time. During the live streaming, the stars will also interact with their fans and reveal exclusive secrets! During the live, there will be a lot of lottery, interaction between singers and fans, and send out autographs of the singers, don't miss this opportunity,please check out the Y2K Live Nights on 3/10 and 3/24 for more fun! David, Marketing Director of 17sing said, music and memory are intricately linked, classic music can touch people's emotions. By organizing the Y2K Ballad Carnival, 17sing hopes the power of music can recall the classics and help people go back in time to recapture good memories. In the future, 17sing will continue to organize this series of themed events, so that music can travel through time and space, connect people's hearts and heal wounds. 17sing is a karaoke social entertainment APP popular among the young generation. AI scoring, millions of tracks and chorus duets help you become the king of KTV; the karaoke room let you experience online singing and compete with friends; a variety of popular music games such as rank competition, snatch sing mode, and song guessing contests will keep you entertained; Lots of games such as Happy Marathon, Match Play will bring you more fun!
HABANOS, S.A. CELEBRATES THREE DECADES OF SUCCESS AT THE OPENING OF THE 24th HABANO FESTIVAL
The Club Habana was the ideal setting to celebrate this great milestone for Corporación Habanos, S.A. The Festival will also pay tribute to Trinidad and Quai D'Orsay on their anniversaries. HAVANA, Feb. 27, 2024 /PRNewswire/ -- The emblematic Welcome Evening of the 24th Habano Festival, held at the elegant Club Habana, marked once again, the beginning of a week of celebrations, to honor 30 years of success for Corporación Habanos, S.A. In a unique setting on the shores of the Atlantic, 1,200 guests, including distributors, diplomats, experts and passionate Habano aficionados, gathered to commemorate three decades of global leadership in the commercialization of premium cigars. HABANOS, S.A. CELEBRATES THREE DECADES OF SUCCESS AT THE OPENING OF THE 24th HABANO FESTIVAL Since its founding in 1994, Habanos, S.A. has played a crucial role in the commercialization of Habanos, thus consolidating its position as the world's leading company in the sector. With a presence in more than 130 countries and a portfolio that commercializes 27 premium brands, the corporation has doubled its turnover in the last 20 years, evidencing its growth and strength in the international market. During the evening, Habanos, S.A.'s fundamental role in unifying all its brands under a single commercial structure, and its success in establishing a constant standard of excellence and exclusivity, were highlighted. The corporation has maintained its firm commitment to its brands, and to ensuring quality and tradition in the making of Habanos, which are recognized worldwide for their distinctive flavor and meticulous craftsmanship. The Welcome Evening not only served to celebrate the corporation's legacy but also to relive its history with extraordinary artistic shows and the essence of the best Cuban music, performed by renowned artists such as the Boyeros Band, Ernesto Blanco, the D'Eva Group, the Failde Orchestra, and Elito Revé. These performances, along with an audio-visual display that traced the 30-year history of the corporation thanks to video mapping, offered attendees an immersive experience that left no one indifferent. Before that, the copresidents of Habanos, S.A., Maritza Carrillo González and Luis Sánchez-Harguindey Pardo de Vera, took the floor to give an emotional speech, thanking all those who have contributed to the corporation's success throughout these three decades, from aficionados, distributors and industry workers to the people who are part of Corporación Habanos, S.A., for their dedication and support. The star attractions of the evening were Cohiba Siglo IV, Montecristo Open Eagle, Partagás Serie P No. 2, Romeo y Julieta Short Churchills, Hoyo de Monterrey Le Hoyo de Rio Seco and H. Upmann Connossieur No. 2. This is an exclusive selection of prestigious vitolas that enjoy a reputation forged over these past 30 years. And the public was able to appreciate them during a unique event. 2024, CELEBRATIONS ALL YEAR ROUND 2024 is not only a special year due to Habanos, S.A.'s 30th anniversary, but also because of the significant anniversaries of some of its most emblematic brands, such as Trinidad and Quai D'Orsay, which commemorate their 55th and 50th anniversaries, respectively, and will be honored during the Festival. Additionally, San Cristóbal de La Habana, also celebrates a quarter-century of history. In this sense, 2024 promises to be an unforgettable year, in which the corporation will continue to take Habanos to all corners of the world and maintain the prestige of this symbol of Cuban identity and culture. On the same night, the nominees for the 2023 Habanos Awards were announced: Sami Alrayhani, Mohammed Mohebi and René D. Valdés Miller, in the Business category; Reyniel Rojas Medina, Ana Isel Mederos and Noel Rolando Benítez, in the Production category; and Annie Lorenzo, Kirby Michael Allison and Fabio Ballestracci, in the Communication category. The names of the winners will be revealed during the Gala Night. To download high-resolution images of the event, click here.
A US$82 Billion Private Cellular Market by 2030, 43 Million mMIMO Deployments by 2028, a 90% CAGR for Network Slicing CSP Revenue, and 35 Other Transf
ABI Research's latest whitepaper highlights 38 transformative technology stats you need to know for 2024 and beyond NEW YORK, Feb. 27, 2024 /PRNewswire/ -- The technology community – both innovators and implementers – is at a critical juncture in 2024. Global market pressures are starting to ease, but persistent geopolitical threats are hindering progress. As a result, companies are under pressure to make the right near-term decisions to drive positive impact and ROI within their organizations. In its new whitepaper, 38 Transformative Technology Stats You Need to Know for 2024, global technology intelligence firm ABI Research identifies key forecasts to help companies and organizations make winning, informed decisions that impact the near term to seize market shifts, choose the best technologies and partners, achieve quick wins, meet robust ROI requirements, and use technology for aggressive growth or to safeguard against geopolitical shocks. "This paper provides a selection of forecasts from ABI Research that can help companies and organizations make contextual decisions with the benefit of rigorously produced hard data. The rapid rise of private cellular, huge growth in 5G mMIMO radio deployments, and a big bet on network slicing are just some of the many changes on the horizon of which companies and organizations must be aware to make mid-course corrections or complete roadmaps," Stuart Carlaw, Chief Research Officer at ABI Research explains. Some stats highlighted in the whitepaper include: 5G Markets: The Total Addressable Market (TAM) for private networks, encompassing elements such as the Radio Access Network (RAN), Mobile-access Edge Computing (MEC), the core, and professional services, is poised to grow significantly. "Anticipated to surge from US$6.1 billion in 2023 to surpass US$82 billion by 2030, this growth trajectory will be predominantly fueled by 4G deployments throughout the decade's conclusion. The driving force behind this trend is the enthusiastic anticipation among enterprises for advanced features like Ultra-Reliable Low Latency Communication (URLLC), ensuring a remarkably high level of network availability, reliability, and notably low latencies," explains ABI Research Principal Analyst Leo Gergs. 5G, 6G & Open RAN: Massive Multiple Input, Multiple Output (mMIMO) has long been an integral part of 5G deployment strategies and will continue to be deployed at pace. "5G mMIMO deployments are expected to reach just under a 43 million installed base by 2028, increasing at a Compound Annual Growth Rate (CAGR) of 39.7% during that time frame. Its ability to leverage multi-antenna technologies such as spatial multiplexing and beamforming means that it can improve coverage, capacity, and user throughput," says ABI Research Analyst Larbi Belkhit. 5G & 6G Cloud-Native Systems: CSP revenue from network slicing will drastically increase with an above-90% CAGR between 2022 and 2028. According to Nelson Englert-Yang, "The 5G mobile transformation still has plenty of untapped capital opportunities, and network slicing remains at the fore among them. Communication Service Providers (CSPs) can personalize network services for customers' and enterprises' specific needs in a highly flexible and streamlined way; for instance, designating separate network slices for low-latency gaming and low-bandwidth devices. The network slicing market is driven by further progress in 5G transformation, cloudification, and new network demands for Internet of Things (IoT) devices such as Virtual Reality (VR) headsets. Revenue gains are primarily from connectivity provisioning—the role of CSPs in preparing, commissioning, and operating the network slices. However, there will also be significant revenue growth in auxiliary services and operations." "Our unique, deep, comprehensive, relevant, and timely forecasts provide our clients with the tools to make better decisions when it matters most. We look forward to supporting our clients in 2024 as they outperform their competition," Carlaw concludes. Download the whitepaper, 38 Transformative Technology Stats You Need to Know for 2024, to learn more. You are welcome to share this link with your readers. About ABI Research ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers. ABI Research是一家全球性的技术情报公司，拥有得天独厚的优势，充当终端市场公司和技术解决方案提供商之间的桥梁，通过提供独家研究和专业性指导，推动成功的技术实施和提供经证明可吸引和留住客户的战略，无缝连接这两大主体。 For more information about ABI Research's services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com. Contact Info: Global Deborah PetraraTel: +1.516.624.2558 email@example.com
Weibo Corporation to Report Fourth Quarter and Fiscal Year 2023 Financial Results on March 14, 2024
BEIJING, Feb. 27, 2024 /PRNewswire/ -- Weibo Corporation (NASDAQ: WB and HKEX: 9898), a leading social media for people to create, share and discover content, will announce its unaudited financial results for the fourth quarter and fiscal year 2023 before the U.S. market opens on Thursday, March 14, 2024. Following the announcement, Weibo's management team will host a conference call from 7 AM – 8 AM Eastern Time on March 14, 2024 (or 7 PM – 8 PM Beijing Time on March 14, 2024) to present an overview of the Company's financial performance and business operations. Participants who wish to dial in to the teleconference must register through the below public participant link. Dial in and instruction will be in the confirmation email upon registering. Participants Registration Link: https://register.vevent.com/register/BI7140d89e0c3844dd981dcf7b042efa87 Additionally, a live and archived webcast of this conference call will be available at http://ir.weibo.com. About Weibo Corporation Weibo is a leading social media for people to create, share and discover content online. Weibo combines the means of public self-expression in real time with a powerful platform for social interaction, content aggregation and content distribution. Any user can create and post a feed and attach multi-media and long-form content. User relationships on Weibo may be asymmetric; any user can follow any other user and add comments to a feed while reposting. This simple, asymmetric and distributed nature of Weibo allows an original feed to become a live viral conversation stream. Weibo enables its advertising and marketing customers to promote their brands, products and services to users. Weibo offers a wide range of advertising and marketing solutions to companies of all sizes. The Company generates a substantial majority of its revenues from the sale of advertising and marketing services, including the sale of social display advertisement and promoted marketing offerings. Designed with a "mobile first" philosophy, Weibo displays content in a simple information feed format and offers native advertisement that conform to the information feed on our platform. To support the mobile format, we have developed and continuously refining our social interest graph recommendation engine, which enables our customers to perform people marketing and target audiences based on user demographics, social relationships, interests and behaviors, to achieve greater relevance, engagement and marketing effectiveness. Contact: Investor RelationsWeibo CorporationPhone: +86 10 5898-3336Email: firstname.lastname@example.org
Global Times: Now it's time to phase in market-oriented, law-based, internationalized oversight system to guide China's stock market growth:
Editor's Note: On the first working day after the Spring Festival, China Securities Regulatory Commission held more than 10 back-to-back meetings with a wide range of market participants to solicit suggestions on equity market regulation, risk prevention and high-quality development. Tian Xuan, vice president of the Tsinghua University PBC School of Finance, attended the discussions. He said participants interacted enthusiastically at the panels. BEIJING, Feb. 27, 2024 /PRNewswire/ -- There is a consensus among Chinese regulators over the need to ratchet up the confidence of market participants to draw further investment to the equities market. Obviously, the new chairman of the China Securities Regulatory Commission (CSRC) and the whole team there have strengthened communications with all the market participants, while wasting no time in implementing market reforms, which has sent a positive signal in making continuous efforts to stabilize the market. The implementation of an across-the-board registration-based IPO system has triggered the reshaping of China's capital market. By taking advantage of the window opportunity of low market valuation and low adjustment costs, authorities should conduct a series of reforms targeting the underlying systems of the capital market in line with the "market-oriented, law-based and internationalized" standard, in a bid to build the foundation for a healthy investment environment in China in the long run. From the perspective of investor concerns, enhancing the quality of listed companies and investment returns is one major task. Meanwhile, the authorities should promote a "survival of the fittest" approach in delisting and severely punish illegal behavior including fraud, in line with both the country's Criminal Law and Securities Law. The core of ensuring stable and healthy development of China's capital market lies in reviving broad market expectations, for which, improving market environment to make medium and long-term capital "willing to come" and "willing to stay" is of great significance. In this regard, the CSRC has vowed to enhance institutional arrangements covering fund product registration and enriching the supply of broad-based exchange traded funds and other options, which will attract more medium and long-term capital to the A-share market. Whole-process regulation At the meeting chaired by the new CSRC chairman Wu Qing on February 18, it was proposed that the regulator should come up with stricter rules governing IPOs to attract technology and high-growth companies to the market, and that more efforts are needed to strengthen whole-process regulation on listed companies and adopt "survival of the fittest" approach in delisting companies. It is a good thing that the authorities are promoting the "stocks delisting" reform, with over 50 A-share companies being ousted from market trading in 2023 after dozens were delisted in 2022. However, there is a gap between China's capital market and more mature ones in this aspect. The regulator should continue to enrich the standards of mandatory delisting, optimize delisting procedure and the supporting mechanism, and strengthen regulation on delisting. In the long term, efforts are needed to improve the oversight and supervision mechanism of the governance of all listed companies, for example, further optimizing the mechanism of listed companies' independent director selection and appointment, and reducing unnecessary intervention to activate external supervision function of market acquisitions. More importantly, the authorities need to step up punishment and deterrence for violations of laws and regulations in the market. Although the new Securities Law has significantly increased the ceiling of penalty for financial frauds, there is still room for intensified penalty considering the ultra-high yields brought by illegal activities such as financial fraud, IPO fraud and insider trading. It does not make sense that an individual who steals or fraudulently obtains 5,000 yuan ($703.59) would be put in jail, whereas a person involved in financial fraud of 50 million yuan could move freely, unpunished. A devastating crackdown is needed to punish such severe illegal activities. Increasing punishment on severe crimes is important for the healthy development of A-share market, as an investor will be unwilling to invest in the market if major stakeholders cash out their stock holdings. Severe punishments will better protect investor interest and strengthen smaller investors' confidence. In terms of trading mechanism reform, I, as a deputy to the National People's Congress (NPC), made the advice to the "two sessions" last year that A-share market should implement T+0 settlement in order to make it fairer for individual investors. I will continue to make the same advice this year. Stable economic recovery In addition to undertaking the comprehensive and in-depth reform to the capital market, efforts are needed to raise investors' confidence in China's economic fundamentals in a bid to improve the performance of domestic capital market. Over the past four years, China's average annual GDP growth rate was around 4 percent, reflecting a gap with potential GDP growth rate. However, the gap also means huge potential in China's economic growth in the long run. China's potential yearly GDP growth rate remains at around 5-5.5 percent. The economy has created a miracle of nearly 10-percent annual GDP growth rate over the past 30 years' reform and opening up, coupled with some years of double-digit growth rates. According to economic norms, given that China's economy has grown to 126 trillion yuan, it is unlikely that it will continue to soar at over 8 percent or even double-digit growth. China still boasts many advantages to maintain a medium-to-high growth rate, for example, the mass market, the largest industrial system in the world with the most complete categories as well as high quality but relatively cheaper labor force. Most important of all, the Chinese people are a great people that are diligent and always aspire to live a better life. From the perspective of macro policies, China has sufficient policy room and tools in reserve to ensure a stable recovery. The central government announced in October the issuance of 1 trillion yuan in additional government bonds, widening the country's 2023 budget deficit ratio to around 3.8 percent from 3 percent of its GDP. In addition, market expected that the US Federal Reserve will cut interest rates this year, leaving more room for monetary policy easing in China. However, as the scarring effect from the pandemic persists, China's macro-policies in the medium to long run should follow the general principle proposed at the Central Economic Work Conference, namely "seeking progress while maintaining stability, promoting stability through progress, and establishing the new before abolishing the old."
Global Times: 'Xiamen solution' exemplifies harmonious coexistence between man and nature, contributes to global marine governance
BEIJING, Feb. 27, 2024 /PRNewswire/ -- Over the Spring Festival holidays, Xiamen residents' beloved Yundang Lake was transformed into a dazzling display of lights and color, creating a festive atmosphere. Strolling along the lake trail, people were greeted by the harmonious blend of vibrant red lanterns and lush green trees, while the crystal-clear lake water mirrored the graceful movements of elegant egrets. However, it is hard to imagine that just a few decades ago, Yundang Lake was a starkly different scene. The once Yundang Port, spanning nearly 10 square kilometers alongside the East China Sea coastline, was drastically reduced to a mere 1.6 square kilometers of enclosed inner lake due to reclamation efforts and dike construction. Rapid urbanization and population growth in the surrounding area exacerbated ecological issues, placing immense environmental strain on Yundang Lake. As paper mills, tanneries, breweries, and other factories sprang up along its shores, indiscriminately discharging industrial waste and sewage directly into the water, Yundang Lake transformed into a foul-smelling body of water, choked with sewage, littered with garbage, teeming with mosquitoes. People living nearby were left to endure the unbearable stench and suffer the consequences of this form of environmental degradation. Chinese President Xi Jinping cherishes Xiamen deeply. From his post in the coastal city to leadership roles in Fujian and the central authorities, Xi's ecological protection initiatives on Xiamen have yielded significant results. As a key birthplace and early adopter of Xi's ecological ideas, Xiamen has pursued systematicecological governance and contributed to high-quality development through marine ecological restoration for over 30 years, fostering harmony between man and nature. Now, Xiamen has built a beautiful bay living environment, enhancing the ecological vitality of the coastal zone, and contributing the "Xiamen solution" to domestic and international urban marine ecological protection. A splashing recovery "It was a momentous occasion for Xiamen people to undergo a consciousness awakening." Wang Yanyan, chief engineer at the Xiamen Municipal Administration of Parks and Gardens, still vivid remembers how tough the battle against environmental pollution was when it was launched in the city in 1988. In March 1988, Xi, then serving as executive vice mayor of the city, set in motion a comprehensive strategy to revitalize the lake. "The vice mayor personally spearheaded the ecological protection of a lake, and with unprecedented efforts, took out 10 percent of the city's annual infrastructure investment for two consecutive years - 10 million yuan - for lake governance," Wang told the Global Times. Xiamen, as one of the first four special economic zones in China, was also in the critical stage of reform and opening-up in the late 1980s. Despite financial constraints, the city's leaders showed remarkable courage and commitment to the cause. "The efforts put into the lake's restoration were truly exceptional for the time," Wang emphasized. Since then, Yundang Lake has witnessed five major restoration projects, with a total investment of nearly 1.99 billion yuan ($270 million). "Sewage interception is the key to restoring the beauty of Yundang Lake," Xie Xiaoqing, the general manager of Xiamen Municipal Urban Development and Construction Co, Ltd, told the Global Times, noting that over the years, Xiamen has taken bold steps to clean up the lake, shutting down 210 polluting factories, building top-notch sewage treatment facilities, and updating the rainwater and sewage disposal systems in over 800 communities. "Previously, whenever raindrops fell on the ground in Xiamen, my heart would start to worry, because the rain would make the smell of Yundang Lake even worse. But now, we have improved the water quality in the lake basin from the source, so I can rest easy knowing that the lake is no longer a concern," Xie said. Zhang Weipeng, the director of the Yundang Lake Protection Center, praised the current innovative use of natural sea tides to flush out lake pollutants as a decision rooted in science and foresight. Thanks to these measures, Yundang Lake has undergone a remarkable transformation, blossoming into a vibrant hub of finance, tourism, and residential living in Xiamen. The successful restoration of the lake serves as a shining example for future lake remediation projects in Xiamen, while also inspiring a collective commitment to ecological civilization across the city. A great example In January 1986, Xi emphasized at a meeting in Xiamen that "protecting natural scenic resources has far-reaching implications and great significance." But how to balance the relationship between ecological environment protection and development construction? Xi's position is clear: Can we use partial destruction to achieve development on the other side? I think it is very clear to me that Xiamen cannot exchange development in other aspects at this cost. In 1994, after gaining legislative power for economic special zones, Xiamen enacted its first substantive local regulation, the "Xiamen Environmental Protection Regulations." Since then, Xiamen has successively enacted more than 10 maritime regulations. In addition to investing in governance and actively implementing legal safeguards, Xiamen has also implemented a series of institutional innovations, such as establishing the Municipal Government's Marine Management Office, pioneering the formation of a specialized marine cleaning team in China, strictly prohibiting the introduction of heavily polluting projects, and rationalizing the layout of industrial concentration zones. The ecological protection of bay-type cities is a global issue. Problems such as dense population, industrial agglomeration, high pressure on resources and the environment, environmental pollution, and reduced biodiversity tend to restrict economic and social development. In 2002, Xi, then deputy Party chief and governor of Fujian, proposed the idea of shifting Xiamen's urban planning from island-based to bay-based. Since then, the city has undertaken a succession of comprehensive renovation and development projects in five bay areas, aiming to create a "beautiful blue bay" surrounding the city. A closer look at the city's urban planning reveals the thoughtful "concessions" made to protect the environment: To protect over 500 trees, the Tianyuan Bridge in Wuyuan Bay takes a bend to avoid disturbing the Chinese white dolphins; the plan for the Xiang'an Cross-Sea Bridge was changed to a more costly and labor-intensive underwater tunnel; and Xiamen even built a mountain road with only three lanes to avoid any harms to reservoirs and plants. Amid the bustling cityscape, Xiamen has set aside a 3-hectare natural reserve for the blue-tailed bee-eater (Merops philippinus), known as the "most beautiful bird in China." This sanctuary provides a safe haven for these majestic creatures to breed and thrive, making Xiamen their northernmost breeding ground in the world. However, these "concessions" are not compromises. In Xiamen, the sea isn't just a backdrop - it's a way of life. The city's dedication to preserving its natural heritage serves as a shining example for bay cities around the world, showing that with careful planning and a deep respect for nature, economic and social development can coexist harmoniously with the environment. Guided by Xi's ideas, over the past 36 years, Xiamen has pioneered the concept of comprehensive bay-area governance in domestic coastal regions and invested a total of 105.6 billion yuan in marine ecological protection and restoration, aiming to construct a bay city where humans and nature coexist harmoniously. The impressive economic development achievements also complement the good ecological environment: In 2023, Xiamen's total economic output exceeded 800 billion yuan for the first time, reaching over 806.6 billion yuan. The wetland restoration project in Xiamen has set a great example to the world for "making peace with nature," Peter Thomson, the UN Secretary-General's special envoy for the ocean, made the remark at the 2023 World Ocean Week in Xiamen, in November 2023. Media reports said since 2007, the lessons of treating Yundang Lake have been included in the coastal governance training course of the Chinese government's foreign aid project, and such courses have been provided to more than 100 developing countries and nearly 2,000 officials and technical personnel around the world. A rooted initiative During the winter months, Xiamen becomes a haven for flocks of cormorants seeking shelter and sustenance in the tranquil waters of Xinglin Bay. The sight of these majestic birds soaring through the sky in unison is a breathtaking spectacle. "Whether the ecology is good or not, the birds know best," said Guo Qiang, a member of the Xiamen Bird Watching Association, who eagerly captures the beauty of these overwintering birds with his camera. With years of experience behind the lens, Guo said he felt lucky to see firsthand the positive impact of Xiamen's efforts to restore its marine ecosystem. There are countless dedicated bird enthusiasts like Guo in Xiamen on hand to document the birds' behaviors and movements, serving as guardians of the city's precious ecological treasures. The essence of Xi's thought on ecological civilization has truly taken root in the hearts of Xiamen residents, becoming a natural and heartfelt commitment for all,Zhang said, noting that currently in Xiamen, the focus on ecological protection has transformed from government-leading to active public action. Zhang shared a heartwarming story about a recent incident at Yundang Lake. "During the cold wave a week ago, many people called to ask the conservation center to pay attention to the warm work of the birds. We immediately sent experts to the field and made emergency plans to respond to people's concerns," he said. Zhang's WeChat account is a hub of activity, with groups dedicated to cleaning the lake, testing water quality, and managing the "Xiamen Yundang Blue Volunteer Service Team." One inspiring member of this team is Chen Yajin, donning a blue vest after retiring at 65 to become the "citizen lake chief." He spends his days patrolling the lake, gathering feedback from the public. On the picturesque ecological artificial island of Maluan Bay in Xiamen, the Global Times observed citizens actively participating in the "tree adoption activity." They rolled up their sleeves, bent down, and lovingly tended to the trees they had adopted, carefully placing nameplates, watering, and nurturing the once barren land that had been transformed by the hard work of local villagers. One young mother, Zheng, shared her thoughts with Global Times as she participated in the activity with her children. "We bring our children here to plant trees, to show them that the beauty surrounding them is not easy to come by. President Xi brings ecological wealth and green well-being to Xiamen, which is extremely precious for us," she said. "We want to instill in them a sense of responsibility as caretakers of the environment." "Most children now all know that the plants and animals in the sea and mountains of Xiamen are their good friends. With the companionship of these well-cared-for friends, they will grow up healthier and stronger," Zheng said. https://www.globaltimes.cn/page/202402/1307731.shtml
Terer by Digital Zero Sdn Bhd Sets Sights on Beverage Sector Domination, Paving the Way for Future Expansion with Over 100 Merchants Onboard
KUALA LUMPUR, Malaysia, Feb. 27, 2024 /PRNewswire/ -- Terer, a startup mobile application by Digital Zero Sdn Bhd, has unveiled a strategic plan to focus and gain momentum in the beverage sector before embarking on its expansion journey. Launched in September 2022, Terer has quickly become a game-changer in the F&B industry, with a primary focus on the beverage sector in Kuala Lumpur and Selangor, Malaysia. Co-Founder Sunil Coushik (left) and Azureen Rashid (right) Founder Azureen Rashid chose this approach because of her firsthand experience and belief that the beverage industry holds a central position in every consumer's daily routine. Azureen recognised the importance of testing the product-market fit before fully implementing their subscription-based business model. As part of this strategic approach, Terer introduced the 'purchase multiples' concept - this enables users to buy 3 cups, 5 cups, or even 10 cups of their favourite beverage at discounted rates and redeeming them on the go. For example, Terer's exciting collaboration with Cocolicious offers a special Terer deal at RM52 for 5 cups of any shake from their Coconut Shake Series, as opposed to the regular price of RM65 for 5 cups. The innovative approach of Terer empowers consumers with cost saving, and a hassle-free buying experience while providing merchants with a pool of loyal customers and upfront cash benefit. Azureen shared her vision for the company's focused approach, "We recognise the immense potential within the beverage sector, as it is an integral part of consumers' daily lives, especially here in Malaysia. By focusing on this sector first, we aim to create a strong foundation and build momentum for future expansion into other service industries." She added, "The beverage sector was a problem I personally faced, and my team and I saw it as an ideal starting point to introduce our innovative solution. We believe that by perfecting our playbook within the beverage sector, we can replicate our success in other service industries as well." Terer's success in the beverage sector can be attributed to the fact that it fills a gap in the market: there was a need to provide consumers with a convenient and cost effective solution. The app incorporates personalised experiences and attractive discounts. Terer is an integral part of a consumer's daily routine by streamlining their beverage purchases and enhancing their overall satisfaction. The company's strategic approach has earned accolades from both consumers and partnering merchants, as Terer continues to grow in popularity throughout Kuala Lumpur and Selangor. The Terer team is determined to continue refining their platform and forging valuable partnerships within the beverage sector to solidify their position as industry leader. As Terer gains momentum and fine-tunes its playbook in the beverage sector, the company remains focused on its long-term vision of expanding across Malaysia and the region, with a mission to revolutionise subscription commerce across various industries such as beauty and leisure. Terer is committed to empowering consumers and businesses alike. The best way to get to know Terer, is to download the app and try it for yourself. New users are welcomed with an exclusive RM5 off discount code: FirstFiver. Otherwise, visit www.terer.co to learn more about Terer's journey and vision for the future. For media inquiries, please contact: TererDigital Zero Sdn BhdEmail: email@example.comPhone: +60123400204
2024 Asian Cinema Fund Opens Submissions
Asian Cinema Fund (ACF), which seeks to discover and support projects by talented directors across Korea and Asia, is now accepting submissions for 2024. Script Development Fund: 2/26-3/20 Post-Production Fund: 3/25-4/15 Asian Network of Documentary(AND) Fund: 3/25-4/15 ACF has contributed to stabilizing the production environment of feature films and documentaries in Korea and Asia through a hands-on support method. ACF, which has taken on a pivotal role in securing the diversity of films and its entry into the global market, will call for applications for the Script Development Fund until March 20 (Wed), while the application period for the Post-Production Fund and the Asian Network of Documentary (AND) Fund will be open from March 25 (Mon) to April 15 (Mon). Furthermore, in addition to funding initiatives, ACF was able to strengthen business ties and cooperation within the industry since its annexation to the Asian Contents & Film Market (ACFM) in 2022 and achieved notable success around the world. This year’s Script Development Fund selections will be invited to the Asian Project Market (APM) as an official selection, providing investment and co-production opportunities through business meetings and being a nominee for the APM Award. The AND Fund selections will also be officially invited to the ACFM 2024 and provided the chance to interact and establish networks with industry officials. The 2022 Script Development Fund selection, In the Land of Brothers, invited to ACFM as an official APM selection in the same year, also received the VIPO Award at the 2022 APM Awards. In addition, the film recently garnered much interest after receiving the Directing Award: World Cinema Dramatic at the 2024 Sundance Film Festival. As such, ACF selections have shown much prominence in prestigious film festivals around the world each year. Past Script Development Fund selections, In the Belly of a Tiger (2018 selection) and Shambhala (aka. A Year of Cold) (2017 selection), were invited to the 2024 Berlin International Film Festival and gained worldwide attention. Solids by the Seashore, the 2023 Post-Production Fund recipient, won 2 awards at BIFF 2023, including the LG OLED New Currents Award, and received public and critical acclaim. Recently, the film won the Jury Prize and the INALCO Favorite Award at the 2024 Vesoul International Film Festival of Asian Cinema. Fellow 2023 selections, Work to Do and The Spark, were also screened at the 2024 Vesoul International Film Festival of Asian Cinema, and the latter received the Marc Haaz Award and a Special Mention for the Film Critics’ Award. The 2019 AND Fund selection, Embodied Chorus, had its world premiere at the 2023 International Documentary Film Festival Amsterdam. Once again, the Asian Cinema Fund will accept applications for three categories: Script Development Fund, Post-Production Fund, and Asian Network of Documentary (AND) Fund. The selected projects will receive post-production service or cash grants. The Script Development Fund is limited to non-Korean Asian films and must be the director’s first or second feature-length fiction film. Detailed information for the submission guideline can be found on the official ACF website (https://acf.biff.kr/eng/)
CGTN: CGTN polls on China's economy III: The next 'China' is still China!
BEIJING, Feb. 26, 2024 /PRNewswire/ -- "The next 'China' is still China!" Chinese President Xi Jinping made this comment to the Chinese business community to highlight China's opportunities in the global market at the Asia-Pacific Economic Cooperation CEO Summit 2023. According to surveys conducted by CGTN and Renmin University of China (RUC) through the New Era International Communication Research Institute, 90.6 percent of global respondents see China as an important country and view deepening mutually beneficial cooperation with China as in their own interests, a concept that has become a consensus in the international community. China cannot develop in isolation from the world, and the world needs China for prosperity. In the eyes of global respondents, China is not only an engine of global economic growth and an opportunity for world development but also a stabilizer and reliable partner of the international community. In the survey, as many as 84.5 percent of global respondents say China is the most influential economic player in the world. Meanwhile, 81.9 percent of respondents consider China a country full of opportunities and that China's development will provide opportunities for the world. Another 75.6 percent of respondents hope their home countries can maintain good relations with China, believing that China's active participation in international affairs can help maintain a fair and reasonable international order. The respondents say of the eight major countries in the world, including China and the United States, economic and trade contacts with China bring the most benefits to their countries. In their eyes, China is also the most reliable partner. The world's confidence in and expectations for the Chinese economy come from China's large and stable market and the concept of balanced, coordinated and inclusive development that China has adhered to in its foreign exchanges. In this regard, 63.2 percent of global respondents appreciate the consistency and stability of China's foreign policy orientation, believing that China has injected "a stabilizing agent" into the turbulent world. Another 64.6 percent of respondents say China is a responsible country that plays an increasingly important and constructive role in global governance. From the concepts of a global community of shared future, the Belt and Road Initiative, the Global Development Initiative, the Global Security Initiative, the Global Civilization Initiative, and China's mediating between Saudi Arabia and Iran to achieve a historic reconciliation and promoting the United Nations Climate Change Conference to reach the "UAE Consensus," China's ideas, plans and wisdom are winning more and more trust and expectations from the international community. In the survey, 76.5 percent of the respondents agreed that China is a country worthy of respect. A total of 84.2 percent of the global respondents praise China as a successful country. Meanwhile, 80.1 percent of the respondents believe China's international influence is growing and expect China to provide more valuable experience for global governance. The surveys were conducted globally, with 15,037 respondents from developed countries such as the United States, France, Japan and South Korea and developing countries such as Peru, Mexico, Thailand and Nigeria. https://news.cgtn.com/news/2024-02-26/CGTN-polls-on-China-s-economy-III-The-next-China-is-still-China--1rvluMDbcUE/p.html
Antelope Enterprise Announces Closing of $1.3 Million Registered Direct Offering and Private Placement
CHENGDU, China, Feb. 26, 2024 /PRNewswire/ -- Antelope Enterprise Holdings Limited (NASDAQ Capital Market: AEHL) ("Antelope Enterprise" or the "Company"), which operates Kylin Cloud, a livestreaming ecommerce business in China with access to 800,000+ anchors and influencers, announced today that it has closed an offering of $1.3 million of its Class A ordinary shares, no par value each (the "Ordinary Shares") in a registered direct offering and a concurrent private placement of warrants to purchase Ordinary Shares (jointly, the "Offering"). The Company entered into a securities purchase agreement with two non-U.S. investors on February 23, 2024 for this Offering for which the purchase price is $1.00. The warrants are immediately exercisable at an exercise price of $1.10 per share subject to certain adjustments, and expire on the fifth anniversary of its issuance date. The gross proceeds from the registered direct offering and concurrent private placement are $1.3 million before deducting offering expenses. The Company plans to use the proceeds from this offering for working capital and general corporate purposes. The Ordinary Shares were offered pursuant to a prospectus supplement to the base prospectus included in the shelf registration statement on Form F-3 (File No. 333-260958), which was declared effective by the Securities and Exchange Commission ("SEC") on July 15, 2022. The final prospectus supplement related to the offering has been filed with the SEC on February 23, 2024 and may be obtained free of charge by visiting the SEC's website at www.sec.gov. The warrants issued in the concurrent private placement and shares issuable upon exercise of such warrants are being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Act"), and Regulation S promulgated thereunder and have not been registered under the Act or applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. About Antelope Enterprise Holdings Limited Antelope Enterprise Holdings Limited holds a 51% ownership position in Hainan Kylin Cloud Services Technology Co., Ltd ("Kylin Cloud"), which operates a livestreaming ecommerce business in China with access to 800,000+ hosts and influencers. For more information, please visit our website at http://www.aehltd.com. Safe Harbor Statement Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this press release include, without limitation, the continued stable macroeconomic environment in the PRC, the PRC technology sector continuing to exhibit sound long-term fundamentals, and our ability to grow our business management, information system consulting, and online social commerce and live streaming businesses. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as "may," "will," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "estimate," "continue," "plan," "point to," "project," "could," "intend," "target" and other similar words and expressions of the future. All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2022 and otherwise in our SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.
TECNO Unveils its Industry Bench-marking Multi-Skin Tone Color Card at MWC Barcelona 2024, Marking a Major Step-Forward in Mobile Portrait Inclusivity
BARCELONA, Spain, Feb. 26, 2024 /PRNewswire/ -- Innovative technology brand TECNO officially announced its groundbreaking multi-skin tone color card at MWC Barcelona 2024. The multi-skin tone color card sets a new benchmark for multi-skin tone imaging with industry's largest and most accurate skin tone database. It will further assist TECNO Universal Tone technology's algorithm to adjust the accuracy of every skin tone in each capture, achieving greater mobile portrait inclusivity. Attendees at MWC Barcelona 2024 can experience this latest advancement of TECNO's Universal Tone technology in person at the brand's stand, 6B11, Hall 6, Fira Gran Via. For too long, mobile portrait technology has been biased due to a lack of objective evaluation indicators and inspection standards for measuring multiple skin tones. To address this issue, TECNO's multi-skin tone color card utilized international standard skin color collection methods to collect 2,838 skin color spectral data points. Conducted rigorous analysis of skin color clustering, boundary colors and intermediate color division in CIELAB space, TECNO established 268 kinds of skin tone patches based on this large skin spectral database. The result of this innovation is the industry's largest and most intricate skin tone database yet. TECNO's multi-skin tone color card will be used to assess the color accuracy of the different skin tone images that are captured and displayed, as well as fine-tune the algorithms of Universal Tone's multi-skin tone imaging technology, including skin color restoration algorithm and skin color improvement algorithm. This advancement allows TECNO to further improve the accuracy of every skin tone, providing an industry-leading validation standard for multi-skin tone imaging technology. Dr. Kaida Xiao, Associate Professor in Colour and Imaging Science at University of Leeds, who advised TECNO during Universal Tone's development, notes how this development can be utilized to better enhance the images it captures, "For years, imaging technology has not encapsulated skin tone diversity. While AI promises much to overcome this, it is often trained with historically biased data. TECNO's multi-skin tone color card solves this issue scientifically by collecting mass amounts of unbiased data, and by integrating it with more advanced AI into TECNO's camera system, TECNO has been able to truly capture the beauty of diverse skin tones." TECNO has partnered with many top global academics and influential institutions to explore the significance of inclusive portraiture. Last year, the company collaborated with BBC StoryWorks on the "Portrait for Everyone" short film, engaging professors in Colour and Imaging Science, Media Technology, and Psychological and Behavioral Science to discuss the societal impact of TECNO's Universal Tone technology, the industry's most advanced AI-powered multi-skin tone imaging technology yet. Moreover, through in-depth academic research, scientific analysis, and consultation with authoritative experts in the field, TECNO was able to determine how best to remove the technological and psychological barriers that negatively impact people's engagement with portraiture, allowing for a truly unbiased and professional photography experience through Universal Tone technology — an approach that the multi-skin color card continues. As a pioneer in developing a more inclusive smartphone industry, TECNO is committed to pursuing new technologies that ensure the beauty of human diversity is accurately captured. The newly released multi-skin tone color card represents a further step forward in Universal Tone's mission to ensure greater inclusivity in mobile imaging to embrace the uniqueness of every culture and to celebrate every form of beauty. To find out more about TECNO Universal Tone technology, please visit: https://www.tecno-mobile.com/news/detail/#/1384 About TECNO TECNO is an innovative technology brand with operations in over 70 countries and regions across five continents. Since its launch, TECNO has been revolutionizing the digital experience in emerging global markets, relentlessly pushing for the perfect integration of contemporary, aesthetic design with the latest technologies. Today, TECNO has developed into a recognized leader in its target markets, delivering state-of-the-art innovation through a wide range of smartphones, smart wearables, laptops and tablets, HiOS operating systems and smart home products. Guided by its brand essence of "Stop At Nothing", TECNO is committed to unlocking the best and newest technologies for forward-looking individuals. By creating stylish, intelligent products, TECNO inspires consumers worldwide to never stop pursuing their best selves and their best futures. For more information, please visit TECNO's official site: www.TECNO-mobile.com
ThunderSoft Showcased Smart Device Innovation Solutions at MWC2024
BARCELONA, Spain, Feb. 26, 2024 /PRNewswire/ -- ThunderSoft, a world leading OS products and technologies provider, unveiled innovative smart device products and solutions at MWC2024. These cutting-edge solutions are powered by the latest intelligent IoT operating system, harnessing the power of artificial intelligence to unlock a multitude of new functions and significantly enhance the user experience of smart devices. With a seamless integration of new IoT technology, AI, edge computing, cloud computing, and other advanced technologies at the operating system level, ThunderSoft has achieved unparalleled system optimization across various computing platforms. This enables customized system tailoring, algorithm optimization, and effortless model deployment on a wide range of smart devices, including earbuds, speakers, PCs, and AR glasses. As a result, it facilitates smooth human-device interaction based on natural language and fosters personalized interaction between devices and spaces, ushering in a whole new era of intelligent experiences for smart devices. Rubik AI Earbuds Solution ThunderSoft has integrated the Rubik LLM with earbuds, allowing users to benefit from natural language understanding, multi-turn chat, and content generation capabilities. This integration enables AI-powered voice assistance, enhancing efficiency for users. The Rubik LLM, when optimized through cloud-based models, has demonstrated impressive performance in earbuds. Rubik AI PC Solution As Qualcomm, Intel, and AMD launching PC chips with higher computing power, the hardware foundation for AI PCs is ready. Therefore, system performance and software applications smoothness become more important battlefields for OEMs to create product differentiations. With optimized on-device model sizes, cross-platform capabilities, pre-integrated coding assistance Rubik Studio and other on-device LLM applications, the Rubik AI PC solution enables OEMs to quickly launch AI PCs with comprehensive functions and superior performance. Rubik AR Assistant Solution AR glasses provide excellent hardware carriers for multimodal models, equipped with rich peripherals such as cameras, displays, microphones, and various sensors, enabling the perception and presentation of multidimensional data. ThunderSoft integrates vision model, language model, and voice model with AR glasses to create personalized intelligent AR assistant that can be applied in sales, tourism, sports, and other scenarios. With its proven expertise in providing smart device solutions and customization services, ThunderSoft is capable of achieving deep customization on operating system, accelerating the deployment of artificial intelligence, edge computing and cloud computing technologies in a wide range of scenarios, and enabling smart device innovations. About ThunderSoft ThunderSoft, a well-known intelligent operating system products and technologies provider, has been continuously accumulating and innovating in the operating system field, with its business expanding gradually from smart phone to smart vehicle, AIOT and smart industries.
More than a hundred cats compete for "Cat King" in Liaocheng, China
LIAOCHENG, China, Feb. 26, 2024 /PRNewswire/ -- This is a report from the Shandong Office of Hong Kong Business Daily. On February 17th, the China CFA International Cat King Professional League (Liaocheng Cute Pet Town) was held in Liaocheng, China. This competition attracted a total of 111 cats, including 5 types of long haired cats such as Maine Coon and Ragdoll, totaling 24 cats, and 11 types of short haired cats, including Devon Rex, British shorthairs, American shorthairs, Selkirk Rex, totaling 87 cats from various parts of China, including Beijing, Shanghai, Hangzhou, Qingdao, Inner Mongolia, etc. It is said that the CFA International Cat King Professional League is conducted on a round robin competition system. After completing all referee tournament reviews, including gender group preliminary contest, color group preliminary contest, single variety preliminary contest, and multi variety final contest, valid points are obtained, and the total tournament points for this round are ultimately added up. In order to promote the high-quality development of the cultural and tourism industry through pet competitions, seize the opportunity in the rise of the "pet economy", and add new gaming experiences for citizens and tourists, Liaocheng City simultaneously held the 2024 Spring Festival "Enjoy Development Zone" Folk Culture Exhibition and the "Intangible Cultural Heritage Happy Shopping with Discounts " New Year Exhibition and Sales Event. Eight diverse forms of cultural and artistic performances, including stunning dragon dance performances and exciting traditional martial arts, were showcased. Thirty unique intangible cultural heritage projects, including black pottery works with rich shapes, colorful chicken feather dusters, lifelike sugar paintings, and cartoon shaped dough sculptures, were exhibited and sold. The Zheng Zheng Xingyuan smoked vinegar, the cute clay figurines, and various cartoon shaped dough sculptures attracted citizens and tourists to stop and watch and purchase. Bao Fenghua, the inheritor of Liaocheng Paper Cuttings intangible cultural heritage, also cut out attractive portraits silhouette for tourists at the activity site.
CGTN: CMG 2024 Lantern Festival Gala captivates audience with blend of tradition and technology
BEIJING, Feb. 26, 2024 /PRNewswire/ -- As twilight descends upon the 15th day of the Chinese New Year, the maiden full moon of the Year of the Dragon rises in the sky, commencing a new lunar cycle. The Chinese Lantern Festival, also known as Yuan Xiao Jie, marks the end of Chinese New Year celebrations and symbolizes the coming of spring. Lantern Festival celebrations have grown increasingly elaborate, going all out with flashy lights, epic fireworks displays, buzzing night markets, top-tier entertainment and games that will challenge your wits, such as solving riddles written on lanterns to win prizes, all proliferating through the ages. The highly anticipated 2024 Lantern Festival Gala, hosted by China Media Group (CMG), displayed its brilliance on Saturday, illuminating the audience with a captivating blend of traditional Chinese culture and cutting-edge technical innovations. This year's gala showcased a diverse array of performances encompassing music, dance, comedy, opera and acrobatics, inviting a global audience to revel in the enchantment of sparkling lanterns, engage in the tradition of guessing lantern riddles and actively participate in the jubilant celebrations. Thirteen charismatic hosts from both the main venue and sub-venues in prominent cities like Shenyang, the capital of northeast China's Liaoning Province, Changsha in central China's Hunan Province, Xi'an in northwest China's Shaanxi Province and Kashgar in northwest China's Xinjiang Uygur Autonomous Region graced the stage of the Lantern Festival Gala. With their lively presence, they seamlessly connected the event with intriguing riddles, spreading sweet blessings of harmony and beauty to the captivated audience. One of the 2024 Lantern Festival Gala's most eye-catching performances was the creative composite program "Colorful Clouds Chasing the Moon." Combining Cantonese opera, instrumental music, ballet and other disciplines into a delicate dance under the moonlight, it presented an innovative interpretation of "colored clouds caressing the evening breeze" with an extended meaning. A combination of such elements rejuvenates traditional Chinese culture, adding new charm and injecting a new impetus into folk history and culture. First broadcast in 1985, the Lantern Festival Gala has accompanied the Chinese people on the special occasion of family reunions ever since. In a testament to its popularity and cultural significance, the gala was aired on multiple TV channels, radio stations and new media platforms, ensuring that its radiant splendor reached every corner of the nation and beyond. As the lanterns dimmed and the festival concluded, the 2024 Lantern Festival Gala added another luminous chapter to the rich legacy of this time-honored tradition. https://news.cgtn.com/news/2024-02-24/CMG-Lantern-Festival-Gala-captivates-with-blend-of-tradition-and-tech-1rsB5D9qEbm/p.html
HONOR Debuts a New AI-empowered All-scenario Strategy at MWC 2024
HONOR announces the global launch of HONOR Magic6 Pro and an AI PC HONOR MagicBook Pro 16, demonstrating its open-collaborative innovation to enable an AI Era BARCELONA, Spain, Feb. 26, 2024 /PRNewswire/ -- Global technology brand HONOR today revealed its new all-scenario strategy by introducing AI-empowered cross-OS collaboration and human-centric intent-based AI and a suite of smart devices with global partners. During its keynote, HONOR not only announced the global launch of the HONOR Magic6 Pro, but also its latest AIPC, the HONOR MagicBook Pro 16, all of which come equipped with HONOR's platform-level AI to empower human-centric experiences. HONOR Debuts a New AI-empowered All-scenario Strategy at MWC 2024 "As we race ahead into the AI era, HONOR committed to delivering human-centric innovations that bring open and seamless experience to address our consumers' desires and pain points," said George Zhao, CEO of HONOR Device Co., Ltd. "We are delighted to announce the global launch of the new HONOR smartphones and AI PC, which truly revolutionize the user experience with industry-leading AI capabilities, while breaking boundaries in human-device interaction." Discover the Magic of AI with HONOR Magic6 ProThe latest addition to the prestigious HONOR Magic Series flagship lineup, the HONOR Magic6 Pro boasts advancements in photography, display, performance, and AI-powered user experiences. Driven by its commitment to human-centric innovation, HONOR has unveiled MagicOS 8.0, the latest version of its Android-based operating system that introduces fully empowered HONOR's platform-level AI and the industry's first intent-based UI. With this, HONOR is transforming the user experience, introducing entirely new, multimodal ways for humans to interact with their smart devices. Enriched by Magic Capsule and Magic Portal, the HONOR Magic6 Pro provides users with a more personalized, intuitive experience. With a simple tap on the notifications banner at the top of the screen, the Magic Capsule expands to offer additional information and related options, granting users instant access to essential resources and eliminating the need to navigate through multiple apps for maximum productivity and efficiency. Meanwhile, Magic Portal harnesses the power of AI to understand user messaging and behavior, streamlining complex tasks into a single-step process. For example, Magic Portal's AI quickly recognizes addresses in a text message and directs users to Google Maps, enabling effortless navigation at their fingertips. For social media like Tiktok and Facebook, it also streamlines the access and sharing, allowing users to forward booking details or online search results with just a single drag. Furthermore, Magic Portal facilitates image-based shopping experiences, seamlessly guiding users to platforms, where they can find and purchase desired items. By working with partners and app developers, Magic Portal supports over 100 most frequently used Apps globally, providing users with a seamless experience across various platforms while ensuring users can enjoy the full potential of Magic Portal with their favorite apps. A Sneak Peak of Inspiring AI PracticeEmbracing an open and collaborative spirit in the AI era, HONOR actively works with industry partners, striving to bring more of the industry's leading technologies to the public. To provide a preview of potential future opportunities, HONOR brings on-device AI with open-source LlaMA 2 inside the HONOR Magic6 Pro, which can complete functions such as Q&A, text creation, and reading comprehension in an offline environment. Collaboration within the industry like this can lead to a more imaginative future for users. Demonstrating the possibilities that smartphone eye-tracking may unlock in the future, HONOR revealed how it is possible to control a car hands-free through the HONOR Magic6 Pro's AI-powered eye-tracking system. The experimental concept showcases how the interplay between AI-enhanced smartphones and vehicles can go beyond screen or voice controls, unlocking a realm of human-device interactions that hold immense possibilities. Experience Pro-grade Sportography with HONOR's AI-powered Falcon Camera System As consumers look forward to an exciting year of sporting events, HONOR has made it a priority to deliver sports photography worthy of a gold medal, with improved capture speeds and clearer snapshots. Debuting a new and improved HONOR Falcon Camera System powered by an AI model trained with a database that is 28 times larger over the previous generation, the HONOR Magic6 Pro includes HONOR AI Motion Sensing Capture, an advanced AI capture algorithm that effortlessly predicts and captures decisive moments in ultra-high definition. The advanced HONOR AI Motion Sensing Capture of the HONOR Magic6 Pro surpasses the previous generation by covering a wider range of sports and activities such as jumping, dancing, and martial arts, making it perfect for capturing thrilling moments at sports events and races. Additionally, HONOR's latest camera system introduces a remarkable 180MP Telephoto Camera Lens (f/2.6, OIS) with 2.5x optical zoom and up to 100x digital zoom. The HONOR Magic6 Pro also features a 50MP Ultra Wide Camera (f/2.0, EIS) and a powerful 50MP main Camera with variable aperture capabilities (f/1.4 and f/2.0, OIS), to capture fast-paced moments in exceptional clarity without compromising on details. Unmatched Display with HONOR NanoCrystal ShieldFeaturing the industry's most drop-resistant screen glass to date, the HONOR Magic6 Pro races ahead with improvements in display drop resistance. Verified by SGS's Five Star Overall Glass Drop Resistance Ability certification in multiple scenarios, the display employs advanced materials with a 50% improvement in crystal density, which enhances its shock absorption capabilities by up to 10 times compared to regular glass1. In addition to its durability, the HONOR Magic6 Pro features an industry-leading 6.8-inch All-range Low-power LTPO Eye Comfort Display2, delivering an exceptional viewing experience while prioritizing users' well-being with a range of human-centric innovations, including the industry's highest 4320Hz PWM Dimming, Dynamic Dimming, Customizable Circadian Night Display, and Nature Tone feature. Powerful Performance Driven by Cross Industry InnovationThe HONOR Magic6 Pro is powered by the Snapdragon 8 Gen 3 Mobile Platform, bringing a 30% improvement in CPU performance and a 25% increase GPU performance to the new devices. Thanks to the Qualcomm® AI Engine, the AI features on the HONOR Magic6 Pro are supported with exceptional fluency and stability, achieving a remarkable 98% improvement as compared to previous models. Additionally, the Snapdragon 8 Gen 3 Mobile Platform delivers exceptional gaming experiences at superb battery efficiency and is packed with advancements that redefine powerful performance3. Recognizing the growing importance of battery life for users who rely on their devices for prolonged usage, HONOR stands out as the first brand to apply emerging battery innovations from other sectors to smartphones. Taking inspiration from the disruptive electric vehicle (EV) industry, HONOR is bringing the all-new HONOR Second-generation Silicon-carbon Battery with HONOR E1, a batter management chipset for energy efficiency enhancement, to the HONOR Magic6 Pro. The 5600 mAh4 demonstrates exceptional low-temperature performance, users can play the YouTube video for 81 minutes5 at -20°C with just 10% battery level remaining. In addition, with its 80W HONOR Wired SuperCharge and 66W HONOR Wireless SuperCharge6, users can charge up the HONOR Magic6 Pro to 100% in only 40 minutes7, enabling the busiest users to swiftly charge their devices on the move. Establishing the excellence of the HONOR Magic6 Pro's advanced battery technology, the device received a distinguished 1st place in DXOMARK global battery ranking with a top score of 157. Also, with the first five DXOMARK labels awarded in 2024, the HONOR Magic6 Pro represents outstanding camera, audio, display, battery and selfie capabilities. Harnessing AI to Create an All-scenario Interconnected ExperienceEnabling an intelligent all-scenario PC experience, HONOR has launched its latest AI-powered laptop, the HONOR MagicBook Pro 16, with the power to empower cross-OS collaboration. Benefit from performance improvements brought by HONOR's platform-level AI with cutting-edge CPU and GPU, the HONOR MagicBook Pro 16 makes sharing notifications and synchronizing materials across HONOR smartphones, PCs, and tablets effortless with MagicRing, ensuring the utmost convenience and easy accessibility. Taking the all-scenario experience to a more compact device, HONOR has also released its newest tablet, the HONOR Pad 9. Boasting an impressive 12.1-inch 2.5K HONOR FullView Display8 with a 120Hz refresh rate9, an eight-speaker audio system that incorporates HONOR Histen sound tuning technology. The HONOR Pad 9 is a feature-packed tablet that offers exceptional user experience and a distinctive design. Teasing the PORSCHE DESIGN HONOR Magic6 RSRAt MWC this year, HONOR has not only officially brought the PORSCHE DESIGN HONOR Magic V2 RSR foldable smartphone to the global stage for the first time, HONOR also unveiled a teaser for the PORSCHE DESIGN HONOR Magic6 RSR, a smartphone that also embodies the DNA of Porsche Design. In terms of product details and market availability, HONOR will provide further information shortly. Color and Pricing Designed for users who prefer a sleek, modern style and a timeless appeal, the HONOR Magic6 Pro will be available in Black and Epi Green10, starting at €1299. Paying tribute to iconic Porsche cars, the PORSCHE DESIGN HONOR Magic V2 RSR is available in Agate Grey11 and priced starting at €2699. Available in White and Midnight Black12, the HONOR MagicBook Pro 16 will be available starting from Q2. Offering two stunning colorways, Space Grey and Cyan Lake13, the HONOR Pad 9 will be priced €349. For more information, please visit HONOR online store at www.hihonor.com. About HONOR HONOR is a leading global provider of smart devices. It is dedicated to becoming a global iconic technology brand and creating a new intelligent world for everyone through its powerful products and services. With an unwavering focus on R&D, it is committed to developing technology that empowers people around the globe to go beyond, giving them the freedom to achieve and do more. Offering a range of high-quality smartphones, tablets, laptops and wearables to suit every budget, HONOR's portfolio of innovative, premium and reliable products enable people to become a better version of themselves. For more information, please visit HONOR online at www.hihonor.com or email firstname.lastname@example.org https://community.hihonor.com/ https://www.facebook.com/honorglobal/ https://twitter.com/Honorglobal https://www.instagram.com/honorglobal/ https://www.youtube.com/c/HonorOfficial 1 Data from HONOR labs.2 With a rounded corners design on the display, the diagonal length of the exterior screen is 6.80 inches when measured according to the standard rectangle (the actual viewable area is slightly smaller).3 Qualcomm and Snapdragon are trademarks or registered trademarks of Qualcomm Incorporated. Snapdragon and Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries.4 Typical value. The rated capacity of the non-removable battery is 5600mAh.5 Data from HONOR labs.6 The actual charging power may vary with different scenarios intelligently. Please refer to actual situations.7 Data from HONOR labs.8 With a rounded corners design on the display, the diagonal length of the screen is 12.1 inches when measured according to the standard rectangle (the actual viewable area is slightly smaller. HONOR FullView Display generally refers to HONOR laptop screens with a narrow bezel and high screen-to-body ratio. Please refer to the actual product.9 The screen refresh rate may vary by application. The screen supports a maximum refresh rate of 120 Hz. The refresh rate may vary depending on the application interface and game screen.10 Color availability varies by region.11 Color availability varies by region.12 Color availability varies by region.13 Color availability varies by region.