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Knight-Hennessy Scholars announces new scholars in its 2021 cohort representing 26 countries and 37 graduate degree programs at Stanford
STANFORD, Calif., May 6, 2021 /PRNewswire/ -- The Knight-Hennessy Scholars program (https://kh.stanford.edu/) at Stanford University announced its 2021 cohort of 76 new scholars, with students from 26 countries, pursuing degrees in 37 graduate degree programs across all seven of Stanford's graduate schools. The 76 new scholars will be joined by five scholars deferring from 2020, bringing the cohort size to 81. Profiles of the 2021 Knight-Hennessy Scholars are here (https://kh.stanford.edu/program/scholars) and summary statistics are here (PDF LINK). Denning House. Photo Credit: Henrik Kam The Knight-Hennessy Scholars program cultivates and supports a highly engaged, multidisciplinary and multicultural community of graduate students from across Stanford University, and delivers a diverse collection of educational experiences, preparing graduates to address complex challenges facing the world. Knight-Hennessy Scholars participate in the King Global Leadership Program and receive up to three years of financial support to pursue a graduate degree program in any of Stanford's seven graduate schools. "At a time when humanity faces difficult challenges ranging from the pandemic to climate change to racial justice, we are delighted to welcome a set of scholars determined to contribute to finding solutions and making a better world," said John L. Hennessy, president emeritus and the Shriram Family Director of the Knight-Hennessy Scholars program. The program strives to develop transformational leaders who have a strong cross-cultural perspective, create a bold vision for the future, inspire others through their words and actions, and are committed to a greater good. The King Global Leadership Program provides a collection of community building experiences, interactive workshops, meetings with global leaders, and personal development opportunities. The Knight-Hennessy Scholars program has no quotas or restrictions based on region, college or university, field of study, or career aspiration. Among new 2021 scholars, 57% are women and 46% hold a passport from a non-U.S. country. Fifty-six percent of U.S. scholars identify as a person of color, and 11% have served in the U.S. military. The scholars earned undergraduate degrees at 16 international and 32 U.S. institutions. Twenty percent are the first in their family to attend college. The inaugural cohort enrolled in 2018, and the fourth cohort brings the total scholar count to 270 to date. The program will eventually increase the intake of scholars to 100 per year. Scholars are selected based on their demonstration of independence of thought, purposeful leadership, and a civic mindset. "Each scholar is selected to add a unique perspective to the cohort, contributing to a highly multicultural and multidisciplinary community," said Tina Seelig, Executive Director of the Knight-Hennessy Scholars program. The application for the 2022 cohort will open August 1 and is due October 6. The program offers online information sessions to describe the community, program, and admission process. About Knight-Hennessy Scholars Announced in 2016, the program is named for Phil Knight, MBA '62, philanthropist and co-founder of Nike Inc., and John Hennessy, chairman of Alphabet Inc. and president of Stanford (2000-2016). Knight-Hennessy Scholars is the largest fully endowed graduate fellowship in the world. Related Links :https://knight-hennessy.stanford.edu/
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Glory Star Announces Independent Operation of CHEERS e-Mall
BEIJING, May 6, 2021 /PRNewswire/ -- Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) ("Glory Star" or the "Company"), a leading digital media platform and content-driven e-commerce company in China, today announced that it has separated the operation of its CHEERS e-Mall platform from its CHEERS video application and will operate CHEERS e-Mall independently going forward. In addition, the Company plans to invest more resources to promote the brand influence of both its CHEERS video application and CHEERS e-Mall platform, and to further increase the Company's overall market share in media and entertainment industry. While the CHEERS video application has maintained high business growth for Glory Star, the CHEERS e-Mall platform has also expanded the Company's presence in video content-driven e-commerce industry and has become another growth driver for the Company. With the independent operation of CHEERS e-Mall, Glory Star will look to deploy more resources to its e-commerce business, expand into the cross-border e-commerce market, and achieve greater business autonomy for its CHEERS e-Mall. Glory Star believes that the independent operation of CHEERS e-Mall platform will allow CHEERS e-Mall to be better integrated with other applications, leading to improved business performances and growth. Mr. Bing Zhang, Founder and Chief Executive Officer of Glory Star, commented, "The independent operations of our CHEERS e-Mall application and CHEERS video application will complement each other well. By continuously improving the quality of our content ecosystem, which includes short-form videos, interactive live streaming, audio, and other form of videos, our CHEERS video application will thrive. As such, we will continue to make the content of CHEERS video available to all users while simultaneously constructing a content ecology with Professional User Generated Content ("PUGC") and User Generated Content ("UGC"). On the other hand, we will continue to upgrade CHEERS e-Mall application through improving our supply chain, logistics, big data, mobile payments, and AI-empowered customer service on the platform. As we operate CHEERS e-Mall independently through a new organizational structure, we are confident that CHEERS e-Mall will experience significant improvements in terms of user quantity, consumption frequency, supply chain, logistics, and more, and its geographic coverage will also expand." "Our customers have welcomed CHEERS e-Mall since its initial launch in April 2019. In fact, CHEERS e-Mall's sales have been increasing at a rate much faster than our original expectations. With the maturation of our private label brand "Cheers Select," improvement of the supply chain through SAAS service providers, launch of the third-party membership services, and expansion of our collaborations with other third-party platforms, such as Taobao, JD.com, and more, we have been able to provide our customers with a better shopping experience and grow the number of SKUs on CHEERS e-Mall to more than a hundred million. In 2020, the GMV of CHEERS e-Mall was more than US$132 million, representing an increase of 581% year over year. Such a rapid pace of growth and monetization capability improvements were in line with our strategic positioning in the content driven e-commerce industry." "With our accumulated capabilities in content, brand awareness, technology, operations, and capital, we believe we have become one of the top players in the video content driven e-commerce industry over the years. Going forward, we expect the independent operation of CHEERS e-Mall to accelerate our growth and enhance our industry leadership." About Glory Star New Media Group Holdings Limited Glory Star New Media Group Holdings Limited is a leading digital media platform and content-driven e-commerce company in China. Glory Star's ability to integrate premium lifestyle content, including short videos, online variety shows, online dramas, live streaming, its Cheers lifestyle video series, e-Mall, and mobile app, along with innovative e-commerce offerings on its platform enables it to pursue its mission of enriching people's lives. The Company's large and active user base creates valuable engagement opportunities with consumers and enhances platform stickiness with thousands of domestic and international brands. Safe Harbor Statement Certain statements made in this release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. Such forward-looking states include, but are not limited to, the Company's ability to develop its online retail and SaaS industry value chains, expand its business relationship with existing clients and continue its business growth trajectory. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting the Company's profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information speaks only as of the date of this release. Contacts Glory Star New Media Group Holdings LimitedYida YeEmail: yeyida@yaoshixinghui.com ICR LLC.Sharon ZhouTel: +1 (646) 308-0546Email: gsnm@icrinc.com
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Hisense Kicks off #UpgradeYourHome Campaign for UEFA EURO 2020 with Campaign Ambassador Dwyane Wade and Football Legends
NYON, Switzerland, May 6, 2021 /PRNewswire/ -- Hisense, as a Global Partner of UEFA EURO 2020, launches the #UpgradeYourHome campaign to encourage consumers to upgrade their home appliances for summer season. Dwyane Wade officially kicks off Hisense's #UpgradeYourHome campaign by calling out to European football legends including Marco Materazzi and Lukas Podolski to bring the Upgrade Season to Europe. Hisense appointed Dwyane Wade as the global ambassador for this year's campaign to encourage sports fans and consumers to upgrade their home with prize. Wade officially kicks off the #UpgradeYourHome campaign by calling out to European football legends including Marco Materazzi and Lukas Podolski to bring the Upgrade Season to Europe. #UpgradeYourHome is activated on May 6th, consumer who purchases a Hisense product before July 11th, will be invited to register at global.hisense.com for a valid competition entry. Participants are eligible to enter the giveaway to win €10,000. To tie in with the "Upgrade" theme, the campaign provides an opportunity for consumers to upgrade their home appliances to get ready for the summer season and creates an exclusive connection among the tournament's audience in a compelling way. Along with the #UpgradeYourHome campaign, Hisense introduces hero products to get sports fans ready for UEFA EURO 2020. U7QF A ULED TV with Quantum Dot Colour delivers over a billion shades of colours. Hisense's Full Array Local Dimming technology utilizes independently controlled dimming zones for added precision. With the Sports Mode feature, U7QF creates a truly vibrant crystal-clear sports scene full of vivid colours and rich layers. It brings the authentic cinematic experience home with HDR10+ and Dolby Vision™ support, plus immersive sound by Dolby Atmos®. U8GQ Astonishing levels of colour purity are unlocked with U8GQ. This Quantum Dot HDR ULED TV gets users closer to reality with over 1 billion true-to-life colours, while Ultra HD Premium offers exceptional 4K clarity. Over 90 independently controlled dimming zones achieve pinpoint detail even in the darkest scene. An AI Picture Optimization system automatically adjusts the picture quality for the best viewing experience according to the scenario identified. The TV brings the actual cinematic experience home with IMAX Enhanced, HDR10+ and Dolby Vision IQ™ support and immersive Dolby Atmos® sound with Multi-Channel Surround. PureFlat Hisense's PureFlat series is advanced in design and ice and water dispenser. With the integrated ice and water dispenser, users have a permanent supply of chilled water and a crushed or cubed ice maker. The interior space is massive and adaptable with innovative storage solutions such as the convertible door that can turn into a fridge or a freezer in a wide temperature range. For more information on the campaign, visit global.hisense.com.
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Phoenix New Media to Announce First Quarter 2021 Financial Results on Monday, May 10, 2021
BEIJING, May 6, 2021 /PRNewswire/ -- Phoenix New Media Limited ("Phoenix New Media", "ifeng" or the "Company") (NYSE: FENG), a leading new media company in China, today announced that it will report its first quarter 2021 financial results on Monday, May 10, 2021 after the market closes. The earnings release will be available on ifeng's investor relations website at http://ir.ifeng.com. Following the earnings release, ifeng's management team will hold a conference call on Monday, May 10, 2021 at 9:00 p.m. Eastern Time (or Tuesday, May 11, 2021 at 9:00 a.m. Beijing/Hong Kong time) to discuss the financial results and operating performance. Due to the outbreak of COVID-19, operator assisted conference calls are not available at the moment. All participants must preregister online prior to the call to receive the dial-in numbers. Preregistration may require a few minutes to complete. Conference Call Preregistration Participants can register for the conference call by navigating to http://apac.directeventreg.com/registration/event/2227658 Once preregistration has been complete, participants will receive dial-in numbers, Direct Event Passcode, and registrant ID by email. Please dial in 10 minutes prior to the call, using the participant dial-in numbers, Direct Event Passcode and unique registrant ID which would be provided upon registering. You will be automatically linked to the live call after completion of this process. A replay of the call will be available through May 19, 2021 by dialing the following numbers: International: +61 2 8199 0299Mainland China: 4006322162Hong Kong: +852 30512780United States: +1 646 254 3697Conference ID: 2227658 A live and archived webcast of the conference call will also be available on the Company's investor relations website at http://ir.ifeng.com. About Phoenix New Media Limited Phoenix New Media Limited (NYSE: FENG) is a leading new media company providing premium content on an integrated Internet platform, including PC and mobile, in China. Having originated from a leading global Chinese language TV network based in Hong Kong, Phoenix TV, the Company enables consumers to access professional news and other quality information and share user-generated content on the Internet through their PCs and mobile devices. Phoenix New Media's platform includes its PC channel, consisting of ifeng.com website, which comprises interest-based verticals and interactive services; its mobile channel, consisting of mobile news applications, mobile video application and mobile Internet website; and its operations with the telecom operators that provides mobile value-added services. For investor and media inquiries please contact Phoenix New Media LimitedQing LiuEmail: investorrelations@ifeng.com ICR, Inc.Jack WangTel: +1 (646) 405-4883Email: investorrelations@ifeng.com Related Links :http://ir.ifeng.com
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OT-ISAC and Group-IB Partner to Exchange Adversary-Centric Threat Intelligence
SINGAPORE, May 6, 2021 /PRNewswire/ -- Group-IB, a global threat hunting and adversary-centric cyber intelligence company that specializes in investigating and preventing hi-tech cybercrimes, is pleased to announce it has formed an intelligence sharing relationship with Operational Technology Information Sharing and Analysis Center (OT-ISAC), a threat information sharing hub for critical infrastructure entities in APAC that aids member companies in preventing or quickly mitigating cyber risks by exchanging details of OT and IT threats and attacks. Group-IB focuses on research and prevention of advanced threats by persistent cybercriminals and has engaged with OT-ISAC to help enhance the resilience of Critical Information Infrastructure (CII) and companies using Operational Technology in Asia Pacific. Through this partnership OT-ISAC threat analysts and member organizations will receive regular threat intelligence data obtained by Group-IB in cybercrime research and investigations worldwide to advance threat information sharing and cybersecurity maturity. Group-IB and OT-ISAC will notify each other of critical cyber incidents, in particular impacting CII, and may also collaborate on joint projects of interest to operational technology-using sectors. "Group-IB brings exceptional cybersecurity talent to this partnership and we are pleased to be able to leverage their expertise to help enhance the security of our members," said John Lee, OT-ISAC Managing Director. "Our community of members is committed to strengthening the continuity and security of CII owners and operators in greater Asia Pacific, and Group-IB threat information will greatly assist in that mission." "Group-IB is proud to make its contribution to OT-ISAC's intelligence sharing community in a bid to further increase the merit of this data exchange for the organization's members," commented Group-IB Head of Sales and Global Development in APAC Shafique Dawood. "OT-ISAC has been playing a key role in encouraging more cooperation and collaboration among cybersecurity researchers leading its members to greater cyber stability. It's a big honor for us to be a part of this data sharing hub. Together with OT-ISAC we plan to conduct joint research into OT and IoT technologies to strengthen their cyber resilience with the ultimate goal of making our world a safer place to live in." Сyber weapons are being increasingly used for sabotage activities against OT networks by cybercriminals who most frequently attack OT network segments by compromising the IT network segment. Group-IB's team of engineers believes that detection systems and algorithms have to be adversary-aware; this means that alerts have to come with either clear technical justification or full intelligence context on a given threat: who the attackers are, what their motivation is, what their tactic is, and what IOCs and TTPs are expected to be used in further attacks.
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Kahoot! will acquire Clever, a leading US K-12 EdTech learning platform, accelerating its vision to build the world's leading learning platform
OSLO, Norway, May 6, 2021 /PRNewswire/ -- Kahoot!, a global learning platform company, announced today the acquisition of Clever Inc., a privately-held, California-based company that is one of the most widely-used digital learning platforms by U.S. K-12 schools. The partnership between two of the most popular platforms in education, with distinct and highly complementary offerings, will provide improved learning solutions and offerings to U.S. schools, while accelerating the global expansion of Clever's solutions. Kahoot! will acquire Clever, a leading US K-12 EdTech learning platform, accelerating its vision to build the world’s leading learning platform Kahoot! Group will acquire 100% of the shares in Clever Inc., for an enterprise value (EV) of USD 435 - 500 million on a cash and debt-free basis, including a performance-based element for 2021-2022. The consideration will consist of a combination of cash and Kahoot! shares. The company will be wholly-owned by the Kahoot! Group upon closing of the transaction. Clever will remain an open platform and continue to operate under the Clever brand. Clever Inc. will operate as an independent company in the Kahoot! Group, led by its strong management team. Market-leading Platform for Learning Community and App Partners Founded in 2012, Clever's market-leading and open platform brings schools, teachers, students and application developers together in a single-sign-on education network that simplifies accessible learning and provides an easy go-to solution for all users. The shift to digital learning and rapid adoption in recent years of K-12 EdTech has created immense usability challenges for K-12 students, teachers, parents and application developers. Clever seamlessly integrates student and teacher workflow through a marketplace, portal, API-based user management and single-sign-on experience, consistent with Kahoot!'s content-agnostic, digital-first education approach. With Clever, students get a digital classroom with all the resources they need to login and start learning. Teachers create personalized and organized digital classrooms and can see which students are participating, and instantly reach out to students who need help—all without leaving the platform. Clever offers their platform free of charge to schools and school districts and, in 2020, served 50% of all U.S. students in over 89,000 schools, representing 65% of the 13,000+ school districts, and engaged over 20 million students monthly, delivering 5.6 billion learning sessions. Clever has partnered with 600 application developers, including many of the leading U.S and global learning providers, like Khan Academy, McGraw Hill, Zoom, and also recently announced its new partnership with Google Classroom. Clever expects to reach USD 44 million in billed revenues for 2021 from its U.S. ecosystem partners, following an annual revenue growth rate of approximately 25% CAGR in the last three years, running the business on a cash flow neutral basis, redeploying all cash into development of its offerings. With offices in San Francisco, CA and Durham, NC, Clever employs a talent force of over 175 with deep education and technology expertise. Making Learning Awesome "Today's announcement marks a milestone in Kahoot!'s mission to make learning awesome. Clever and Kahoot! are two purpose-led organizations that are equally passionate about education and unleashing the potential within every learner," said Eilert Hanoa, CEO at Kahoot!. "Through this acquisition we see considerable potential to collaborate on education innovation to better service all our users - schools, teachers, students, parents and lifelong learners - and leveraging our global scale to offer Clever's unique platform worldwide. I'm excited to welcome Tyler and his team to the Kahoot! family. "In the same way as we are improving our offerings with Kahoot! at Work towards enterprises with Kahoot! Spirit and our acquisitions of Actimo and Motimate, the acquisition of Clever will strengthen our offerings towards schools, districts and families in Kahoot! at School and Kahoot! at Home," said Hanoa. Unlocking New Ways to Learn for All Students "We founded Clever because we believed that technology can be a powerful lever to make learning more joyful and engaging - and no one embodies that more than Kahoot!," said Tyler Bosmeny, CEO and co-founder of Clever. "Being part of the Kahoot! family will give us the opportunity to not only continue our mission, but to accelerate our plans to serve international markets. We are inspired to be a part of Kahoot! Group and excited to work with Eilert and the team to unlock the opportunities ahead for schools around the globe." Uniquely Positioned Offering for U.S. Market The continued rapid expansion and complexity of the U.S. EdTech ecosystem increases the need to offer students, teachers, parents and school districts a single-source platform to easily access the universe of value-add learning solutions. The proposed partnership between Kahoot! and Clever will provide complementary digital solutions that make learning more efficient, effective and awesome for everyone. Clever will also integrate Kahoot!´s family of learning apps onto its platform, enhancing distribution channels for Kahoot! and enabling efficient implementation via Clever APIs to millions of students and teachers in U.S. K-12 schools. Complementary Strengths that Create Unique Advantage Both companies possess powerful but different capabilities. Kahoot! is a leading educational platform for user- and partner-generated content, including its broad suite of family-friendly learning apps, rapidly growing viral distribution model and global scale. Clever offers a popular and ubiquitous single-sign on platform, trusted ecosystem, loyal partners, and deep relationships in the education system. In partnership, the companies expect to offer a compelling marketplace proposition for all learning applications, as well as simplification of access and a steadily improved offering of learning tools to all users. Significant Growth and Global Expansion Opportunities The transaction is expected to generate synergies that will create additional potential to grow and empower more users with industry-leading EdTech tools and resources. The acquisition will add value to Kahoot!'s already strong presence in the U.S. education sector and will provide the opportunity to extend Clever's platform across Kahoot!'s existing reach of over 200 countries, providing application partners a springboard into international markets. Passionate Cultures, Shared Values Kahoot! and Clever, both purpose-driven organizations, have made it their missions to make education accessible and awesome. After closing, the teams will collaborate to innovate new marketplace offerings to the education sector, having an even greater social impact as they empower educators and help learners everywhere reach their full potential. Committed to serving as a force for good, Kahoot! and Clever will continue to drive toward diversity, equity and inclusion for all, as well as continue to offer free as well as premium offerings to all user groups. Enhanced Financial Profile Building on Kahoot!'s solid financial position supported by strong recurring revenue (ARR) growth, Clever will bring an additional annual recurring revenue platform based on its current marketplace structure comprising direct revenue streams from application developers (B2B). On the basis of its large base of over 600 application partnerships and deep customer relationships, Kahoot! is expecting Clever to accelerate its growth trajectory in the years to come fueled by additional upcoming marketplace launches, further expansion beyond the K-12 segment as well as international expansion plans. Transaction Terms Kahoot! Group will acquire 100% of the shares in Clever Inc. for a total consideration reflecting an Enterprise Value (EV) of USD 435 - 500 million, on a cash and debt free basis, including an up to USD 65 million 2021-2022 performance-based element. The consideration will be settled by a combination of approximately 82% cash and 18% Kahoot! shares. The cash portion of the USD 435 million base consideration is payable in instalments whereby USD 205 million is payable at closing and the remaining USD 150 million will be payable later in 2021. The performance based consideration will be payable in 2022 and 2023. The cash portion of the consideration will be financed from available cash and other sources available to Kahoot!, and the consideration shares will be subject to a 12-months lock-up from the respective issuance dates. The transaction, which is subject to customary closing conditions, including regulatory approvals, is expected to close in the second quarter of 2021. A company presentation with Clever will be held on May 19th. More information will be available at www.kahoot.com/investor. For more information about Clever, see the Clever Introduction presentation here and read our latest blog post about Kahoot! and Clever. Please visit Kahoot! News to stay up to date on company news and updates. About Kahoot! Kahoot! is on a mission to make learning awesome! We want to empower everyone, including children, students, and employees to unlock their full learning potential. Our learning platform makes it easy for any individual or corporation to create, share, and play learning games that drive compelling engagement. Launched in 2013, Kahoot!'s vision is to build the leading learning platform in the world. In the last 12 months, 279 million games have been played on the Kahoot! platform with 1.6 billion participating players in more than 200 countries. The Kahoot! family also includes award-winning DragonBox math learning apps, the Poio learn to read app, the Drops language learning apps, the Actimo and Motimate employee engagement and corporate platforms and Whiteboard.fi, the online whiteboard tool for all educators, teachers and classrooms. The Kahoot! Group is headquartered in Oslo, Norway with offices in the US, the UK, France, Finland, Estonia, Denmark and Spain. Let's play! About Clever Clever is on a mission to unlock new ways to learn for all students. Since 2012 our team has been driven by a belief that technology is a powerful lever to make learning more engaging, give teachers superpowers, and advance educational equity. Now, more than 50% of US K-12 students use Clever's single sign-on and secure portal for simplified access to a world of digital learning. Over 89,000 schools, including 96 of the top 100 U.S. school districts, and a network of leading application partners rely on the Clever API for speedy implementation and seamless student engagement. Clever has offices in San Francisco, California and Durham, North Carolina, and you can visit us anytime at clever.com. Media contact:Kahoot!Falguni Bhuta falguni@kahoot.com CleverLiz SteinWhiteboard Advisors for Clever liz.stein@whiteboardadvisors.com Photo - https://mma.prnasia.com/media2/1504561/kahoot_acquires_clever.jpg?p=medium600 Logo - https://mma.prnasia.com/media2/1099251/Kahoot_Purple_Logo.jpg?p=medium600 Related Links :https://www.kahoot.com
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Viomi Technology Hosted Spring Strategic New Product Launch Event
- Viomi harnesses the power of AI into IoT @ homeGUANGZHOU, China, April 28, 2021 /PRNewswire/ -- Viomi Technology Co., Ltd ("Viomi" or the "Company"), a leading IoT @ Home technology company, hosted the Company's "AI: Helpful" Spring Strategic New Product Launch Event in April. The company invited George F. Smoot, Nobel Laureate in Physics and Father of Cosmogenesis, to be its chief scientist for AI.   To benefit users from active intelligence, healthy and safe home environment, the Company unveiled numerous new and exciting smart appliances across the extensive product portfolio, including: The new robot vacuum Alpha 2 Pro, empowered by the Four-eye Obstacle-avoidance technology and AI-Dumping3.0 system, furthers hands-free and dust allergy-proof cleaning experience; The EROx water purifier, developed by a team of doctors for 3 years, diversifies beneficial minerals in drinking water for different customers, via electro-dialysis technology and 9 AI sensors; The omnidirectional-wind air conditioner, Space, coming with a sliding air-floating panel and AI-based heat sensor, tailors the wind direction and temperature for users; The HomeMap screen-based control interface, driven by LDS mapping technology and AI algorithm, incorporates and visualizes comprehensive householding data with 3D Map, including air, security, water, IoT and lighting maps. "Viomi has been dedicated to innovating products to cater to diversified consumer needs as well as solve customer pain points," commented Mr. Xiaoping Chen, Founder, Chairman of the Board of Directors and Chief Executive Officer of Viomi. "Going forward, we will continue to develop more helpful and smart products, alongside our holistic IoT home solutions, to offer a comprehensive IoT home experience for our users." The company also hosted two product launch events last year, debuting its flagship 21Face large-screen refrigerator embedded with an interface through which users can access various media and entertainment content. In addition, Viomi introduced its new IoT chip modules, and smart switch products, among others, further strengthening 5G IoT smart connection capabilities for the home environment. About Viomi Technology Viomi has developed a unique IoT @ Home platform consisting of an ecosystem of innovative IoT-enabled smart home products, together with a suite of complementary consumable products and value-added businesses, prevalent in over 60 countries/regions. https://www.viomi.com/ Follow us on Facebook, Instagram, Twitter and YouTube. Related Links :http://www.viomi.com.cnhttps://www.viomi.com/
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E-commerce Aggregator, Una Brands, raises AUD50 million in Seed Round from heavy hitters to acquire and scale brands in Australia
SINGAPORE, May 6, 2021 /PRNewswire/ -- E-commerce startup, Una Brands, announced today a AUD50 million Seed Round to buy and scale e-commerce brands with majority of acquisitions happening in Australia. The round ranks amongst the highest ever seed investment raised by an Australian startup. The company uses advanced technology to optimise and automate company identification, product placement, and marketing across a broad range of distribution channels. In 2020, Una Brands was founded by CEO Kiren Tanna, former CEO of Rocket Internet Asia and founder of foodpanda and ZEN Rooms. He is backed by four Co-Founders spread across APAC, namely Adrian Johnston, Kushal Patel, Tobias Heusch, and Srinivasan Shridharan. Adrian, head of the Australia office, shared: "We estimate that there are more than 10 million third-party sellers on regional platforms across APAC. The COVID lockdown created a huge surge in e-commerce demand, with a peak demand increase of over 100 per cent in many cases." Adrian adds that Una Brands can help progress companies to the next level. "When a business gets beyond a certain size, business owners find that they do not have the time to do what they love as they get bogged down in the operational process. By partnering with Una Brands, brands can turbocharge their growth into new markets and channels." The funding round is backed by leading global investors: 500 Startups, Kingsway Capital, 468 Capital, Presight Capital, Global Founders Capital and others. Una Brands has also secured investment from Maximilian Bittner, currently CEO of Vestiaire Collective and former CEO of Lazada. Una Brands will focus on acquiring companies with strong independent branding and annual revenue between AUD400,000 and AUD10 million. They are platform agnostic, acquiring businesses across leading e-commerce platforms including Amazon, Lazada, Shopee, Shopify and more. About Una Brands Una Brands was founded by e-commerce experts, to provide a fast and fair way for e-commerce business owners to sell their companies. Una Brands buys businesses with a long-term competitive advantage and strong brands and grows them in new markets and on new platforms. Una Brands is platform agnostic, acquiring businesses across leading e-commerce platforms including Amazon, Lazada, Shopee, Shopify and more. For more information on Una Brands, visit https://www.una-brands.com. For press inquiries: Asia PR WerkzKimberley Pereira+65 9226 0061kimberley@asiaprwerkz.com
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Access Advance Welcomes OPPO as a Licensor of the HEVC Advance Patent Pool
BOSTON, May 6, 2021 /PRNewswire/ -- Access Advance announces that OPPO, a leading smart device company, has become a licensor of the HEVC Advance Patent Pool. With this addition, OPPO's HEVC/H.265 standard essential patents are included in the HEVC Advance patent portfolio license, which now totals over 13,700 world-wide patents and counting. "We are very pleased to join the HEVC Advance Patent Pool as a licensor, which marks the achievement of OPPO's patent accumulation in video processing fields," said Adler Feng, Senior Director of Intellectual Property at OPPO. "We are looking forward to cooperating with Access Advance, a licensing platform who shares our focus on balancing the interests of both licensees and licensors, to create a healthy ecological environment for HEVC and future video processing technologies." "We welcome OPPO to the HEVC Advance Patent Pool and are very excited that OPPO has chosen to join the HEVC Advance Patent Pool not only as a licensee but now also as a licensor. OPPO's support is a further testament to the broad market acceptance of our HEVC program by both patent implementers and patent owners," said Access Advance CEO Peter Moller. "We look forward to adding OPPO's valuable expertise and perspective to our on-going efforts to provide industry leading patent pools that best meet the needs of all stakeholders and accelerates the adoption of next generation technologies such as HEVC and soon VVC for the benefit of consumers." About OPPO:OPPO is a leading global smart device brand. Since the launch of its first mobile phone - "Smiley Face" - in 2008, OPPO has been in relentless pursuit of the perfect synergy of aesthetic satisfaction and innovative technology. Today, OPPO provides a wide range of smart devices spearheaded by the Find X and Reno series. Beyond devices, OPPO provides its users with the ColorOS operating system and internet services like OPPO Cloud and OPPO+. OPPO operates in more than 40 countries and regions, with 6 Research Institutes and 5 R&D Centers worldwide, as well as an International Design Center in London. More than 40,000 of OPPO's employees are dedicated to creating a better life for customers around the world. About Access Advance:Access Advance LLC (formerly HEVC Advance LLC) is an independent licensing administrator company formed to lead the development, administration, and management of patent pools for licensing essential patents of the most important standards-based video codec technologies. Access Advance provides a transparent and efficient licensing mechanism for both patent owners and patent implementers. Access Advance currently manages and administers the HEVC Advance Patent Pool for licensing patents essential to H.265/HEVC technology and is currently in the development phase for its VVC Advance Patent Pool for licensing essential patents to VVC/H.266 technology. For more information about Access Advance or the HEVC Advance Patent Pool, please visit www.accessadvance.com. For more information about the VVC Advance Patent Pool currently in development, please contact Paul Bawel, SVP, Business Development, at Paul.Bawel@accessadvance.com. Contact: press@accessadvance.com Related Links :https://accessadvance.com
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NEXCOM Develops Advanced 5G Solution Based on Award Winning Thales Cinterion IoT Technology
TAIPEI, May 6, 2021 /PRNewswire/ -- NEXCOM, a leading supplier of network appliances, is launching a new universal customer premises equipment (uCPE) solution to meet the massive demand of wireless connectivity in today's dynamic IT environments. NEXCOM's latest arrival to their expanding uCPE product line, the DTA 1164W, leverages the award-winning Thales Cinterion® MV31-W Ultra High Speed IoT Modem Card to deliver 5G cellular connectivity and capabilities. Together, the Intel Atom® C3000R processor powered uCPE packs enhanced security features that deliver excellent performance per watt and PoE (Power over Ethernet) functionality while providing multiple connectivity options, such as WiFi5/6 and 4G LTE/5G in a single compact appliance. NEXCOM Develops Advanced 5G Solution Based on Award Winning Thales Cinterion IoT Technology This long-awaited 5G enabling network appliance has received high attention from notable operators in Taiwan and key players in the telecom sectors across the world. Wireless broadband has triggered IT professionals to seek cost and time efficient alternatives for fast deployment and easy maintenance without sacrificing networking and computing performance. The DTA 1164W--designed under such context--provides a great solution that showcases all the features needed by a variety of IT scenarios. "To collaborate with Thales for 5G enabling is a strategic move from NEXCOM in terms of product positioning and marketing," said Allan Chiu, VP of Network & Communication Solutions at NEXCOM. "We are proud to have such a reliable partner as Thales whose expertise and global presence helps NEXCOM not only during the development stage, but also for the entire product life cycle, including sales and services, and we will continue to work together on further challenges." "The Thales partnership with NEXCOM brings 5G cellular connectivity to this first-of-its-kind 5G universal customer premises equipment (uCPE) and it marks a significant transformation in wireless connectivity," said Sashidhar Thothadri, VP IoT Products Global Sales, Analytics & IoT Solutions, Thales. "Our award-winning Cinterion IoT Modem Card delivers ultra-high-speed 5G enhanced mobile broadband with 4G fallback, ensuring extremely low latency and higher throughput. With trusted 5G reliability, uCPE delivers the most advanced and secured capabilities to meet the most demanding last mile connectivity priorities. About NEXCOM NEXCOM was founded in 1992 and is headquartered in Taipei, Taiwan. Integrating diverse capabilities, NEXCOM operates six global businesses, including the Network and Communication Solutions (NCS) unit, which focuses on high performance computing and network technology and is committed to helping customers build network infrastructure. NCS's network application platform is widely adopted in CDN, Cyber Security Appliance, Load Balancer, uCPE, Router, SD-WAN, Edge Computing, Storage, NVR, and other network applications.
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Black Box Webinar on May 11 to Focus on Reimagining the Workplace
Black Box, a global solutions integrator, has scheduled its latest "Box Talks" webinar for 2 p.m. EDT next Tuesday, May 11. The free webinar, titled "Reimagine Your Workplace: Your WorkFORCE Is Ready — But Is Your WorkPLACE?", will feature Black Box experts in an informative and inspiring 45-minute discussion about mastering business and IT in the age of the hybrid workforce. After a brief presentation for perspective on escalating trends, the panelists will moderate a half-hour of live Q&A across chat and social media channels. Webinar panelists will include Sam Smart, solutions architect — wireless, Black Box; Will Lysy, solutions architect — SD-WAN, Black Box; and Randi Roger, senior product manager, Black Box. The expert panelists will cover the following topics: • Companies' burning questions about the future of work and its impact on their IT, employees, and operations. • Implementing a software-defined networking solution for hybrid work. • Advancing to a wireless-first, wired backup future for the network. • Anticipating the next phase of the hybrid work evolution. • Downsizing commercial space and redirecting funding to standardizing home networking equipment. "The COVID-19 crisis accelerated digital transformation for organizations of all shapes and sizes along the business spectrum, spurring corporate IT teams to support a new hybrid work environment. Today, colleagues can collaborate from anywhere at any time on any device across a combined network of remote and office locations, making them more productive and more proficient with technology than ever before," Roger commented. "This webinar will be valuable for all types of business decision-makers, whether they're part of the leadership team choosing how workers can safely return to the office or technical team members implementing hybrid work solutions. We will describe approaches for delivering an outstanding, collaborative, secure, and seamless experience to a hybrid workforce — wherever employees operate." Attendees for the May 11 event who also view the prerecorded webinar held April 8 will be entered in a drawing to win two hours of free consultation with the Black Box architect and engineering staff, a $500 value.
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E-commerce Aggregator, Una Brands, raises USD40 million in Seed Round from heavy hitters to acquire and scale brands in APAC
SINGAPORE, May 6, 2021 /PRNewswire/ -- Singapore-based e-commerce startup, Una Brands, today announced that it has raised a USD40 million Seed Round of equity and debt financing, in one of the biggest seed funding rounds seen regionally. Una Brands will use the capital to buy and scale e-commerce brands based in APAC. Una Brands Singapore-based Co-Founders (from left to right): Tobias Heusch, Kiren Tanna and Kushal Patel Kiren Tanna, former CEO of Rocket Internet Asia and Founder of foodpanda and ZEN Rooms, founded Una Brands in 2020. Kiren is backed by four other Co-Founders spread across APAC, namely Adrian Johnston, Kushal Patel, Tobias Heusch and Srinivasan Shridharan. Kiren Tanna, CEO of Una Brands sees enormous regional growth potential: "We estimate that there are more than 10 million third-party sellers on regional platforms across APAC. The COVID lockdown created a huge surge in e-commerce demand, with a peak demand increase of over 100 per cent in many cases. The lockdown encouraged many people to try shopping online for the first time and has created a behavioural shift in consumer habits." The funding round, backed by leading global investors, includes 500 Startups, Kingsway Capital, 468 Capital, Presight Capital, Global Founders Capital amongst others. Una Brands has also secured investment from Maximilian Bittner, currently CEO of Vestiaire Collective and former CEO of Lazada. Khailee Ng, Managing Partner at 500 Startups, believes that Kiren and the team have the technical and personal experience to make Una Brand a global leader in e-commerce. "They are experienced, mature Co-Founders with a track record in creating speed, scale and success," explained Khailee. He added, "Why we invested in Una Brands goes beyond that. Kiren and his team have the right approach, there is a huge and growing e-commerce market in APAC and there is a huge opportunity for consolidation and optimisation." About Una Brands Una Brands was founded by e-commerce experts, to provide a fast and fair way for e-commerce business owners to sell their companies. Una Brands buys businesses with a long-term competitive advantage and strong brands and grows them in new markets and on new platforms. Una Brands is platform agnostic, acquiring businesses across leading e-commerce platforms including Amazon, Lazada, Shopee, Shopify and more. For more information on Una Brands, visit https://www.una-brands.com. For press inquiries, please contact: Asia PR WerkzKimberley Pereira+65 9226 0061kimberley@asiaprwerkz.com Related Links :https://www.una-brands.com
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Tuya to Report First Quarter 2021 Financial Results on May 13, 2021 Eastern Time
HANGZHOU, China, May 6, 2021 /PRNewswire/ -- Tuya Inc. ("Tuya" or the "Company") (NYSE: TUYA), a global leading IoT cloud platform, today announced that it plans to release its unaudited financial results for the first quarter 2021 after the U.S. market closes on Thursday, May 13, 2021. Tuya's management will hold a conference call at 08:30 P.M. Eastern Time on Thursday, May 13, 2021 (08:30 A.M. Beijing Time on Friday, May 14, 2021) to discuss the financial results. Listeners may access the call by dialing the following numbers: International: +1-639-491-2381 United States Toll Free: +1-844-965-3272 Mainland China Toll Free: 400-820-9305 China Hong Kong: 800-938-186 Conference ID: 9047106 The replay will be accessible through May 20, 2021 by dialing the following numbers: International: +1-416-621-4642 United States: +1-800-585-8367 Access Code: 9047106 A live and archived webcast of the conference call will also be available at the Company's investor relations website at https://ir.tuya.com/. About Tuya Inc. Tuya Inc. (NYSE: TUYA) is a global leading IoT cloud platform with a mission to build an IoT developer ecosystem and enable everything to be smart. Tuya is the largest IoT PaaS business in the global market of IoT PaaS in terms of the volume of smart devices powered in 2020, according to CIC. Tuya has pioneered a purpose-built IoT cloud platform that delivers a full suite of offerings, including Platform-as-a-Service, or PaaS, and Software-as-a-Service, or SaaS, to businesses and developers. Through its IoT cloud platform, Tuya has enabled developers to activate a vibrant IoT ecosystem of brands, OEMs, partners and end users to engage and communicate through a broad range of smart devices. Safe Harbor Statement This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "anticipate", "target", "aim", "estimate", "intend", "plan", "believe", "potential", "continue", "is/are likely to" or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information except as required under applicable law. Investor Relations Contact Tuya Inc.Capital Markets DepartmentE-mail: ir@tuya.com ICR, LLC.Sharon ZhouPhone: +1 212-537-5825E-mail: Tuya.IR@icrinc.com Related Links :https://www.tuya.com/
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European Home Automation Systems Market to Thrive as Subscription-based Business Models Ease Financial Pressures
European Commission's push to modernize buildings with energy efficiency will boost demand, says Frost & Sullivan SANTA CLARA, Calif., May 6, 2021 /PRNewswire/ -- Frost & Sullivan's recent analysis on the European home automation systems market finds that innovative subscription-based business models are key to increase mass-market adoption of professional home automation systems in Europe. This new model would ease the financial pressure on customers by allowing them to make monthly or annual payments instead of fixed-cost offerings. The increasing demand for indoor air quality (IAQ) products and growing awareness of energy-efficient retrofitting are the main growth drivers for the European market. By 2027, the market is estimated to reach $1.50 billion from $495.3 million in 2020 at an impressive compound annual growth rate of 17.2%. Frost & Sullivan - European Home Automation Systems Market For further information on this analysis, please visit: http://frost.ly/5oa "The European Commission's renovation wave strategy is expected to boost demand for home automation systems because the focus is on modernizing buildings with energy efficiency and adopting digital measures to sustain economic recovery," said Anirudh Bhaskaran, Energy & Environment Senior Industry Analyst at Frost & Sullivan. "Consumer awareness of the need for energy efficiency and introduction of government grants for green and energy retrofit homes will also expand the overall home automation products market—lighting, indoor climate control, entertainment control, and window/shutter/blind control—over the next 5 to 7 years." Bhaskaran added: "Though a professional home automation system is seen as a luxury segment of the smart homes ecosystem, its attractiveness can be improved within the mainstream segment through value-added offerings. Additionally, with low prices, the do-it-yourself (DIY) smart home products pose a huge threat to professional home automation products. This encourages home automation systems market participants to acquire or partner with DIY mid-market players to help top-end participants thrive in the market by offering value-addition and competitive pricing." To tap into the growth prospects exposed by the home automation systems market in Europe, participants need to focus on the following: Pandemic Recovery: As Europe recovers from the pandemic, building renovation offers a massive opportunity for all home and building industry participants, pushing the demand for home automation products. Partnerships: Home automation participants should partner with companies offering IAQ products to integrate window automation/ventilation automation with IAQ sensors and offer health and wellness packages at a competitive price. Payment/Business Models: Home automation companies should introduce customer-centric payment models, which will help retain and expand a loyal customer base. Symbiotic Partnerships: Home automation systems participants can partner with DIY mid-segment smart home players to form a symbiotic relationship that draws on each other's strengths to offer value-addition at a competitive price. European Renovation Wave Strategy Drives Demand for Home Automation Systems (HAS) Market, 2027 is the latest addition to Frost & Sullivan's Energy & Environment research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future. About Frost & Sullivan For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion European Renovation Wave Strategy Drives Demand for Home Automation Systems (HAS) Market, 2027 MFD8 Contact:Jaylon BrinkleyCorporate Communications E: Jaylon.Brinkley@frost.com http://ww2.frost.com Related Links :http://www.frost.com
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Itiviti partners with True Market to provide buy-side firms with fixed income trading connectivity via the NYFIX network
LONDON and DETROIT, May 5, 2021 /PRNewswire/ -- Itiviti, a leading trading technology and service provider to financial institutions worldwide, today announced a partnership with True Market, a portfolio trading fixed income EMS. This partnership ensures that buy-side institutions utilizing Itiviti's NYFIX network can aggregate, surveille and trade fixed income on a single screen best execution solution. True Market is one of over 50 buy-side service providers to select NYFIX as their main connectivity partner through Itiviti's Partnership program. As part of the partnership, True Market will also leverage Itiviti's post-trade solution, NYFIX Matching and Transaction Cost Analysis (TCA) services. "We are thrilled to partner with Itiviti and launch our new Single Screen Aggregator and fixed income EMS solution," said Charles Almond, True Market's CEO. "Now, buy-side clients using NYFIX will be able to address many of the workflow optimization, data and liquidity aggregation challenges they face as the fixed income markets become more digitized." Bobby Rahman, Head of Strategic Partnerships at Itiviti, commented: "We are delighted to partner with True Market in order to respond to the demand for new innovative tools to navigate the fast changing fixed income market. The combination of True Market's modern fixed income EMS platform with Itiviti's NYFIX order routing network will provide clients with a consolidated and scalable platform to increase efficiency and liquidity management." Itiviti's NYFIX connects more than 1,100 buy-side and 600 sell-side participants and routes a volume of 28 million+ messages per day. NYFIX is the first Order Routing Network to offer both Hub & Spoke and Point-to-Point connection services, allowing its members to optimize trading efficiency across all asset classes and phases of the trade lifecycle. For further information, please contact: Mireille Adebiyi, Chief Marketing Officer, Itiviti Group, email: mireille.adebiyi@itiviti.com Charles Almond, CEO, True Market, email:ca@truemarketllc.com +46(0)8 506 477 00 About True MarketTrue Market is an electronic fixed income technology and trading specialist comprised of innovators with decades of industry experience and proven success. True Market unties all the asset managers portfolio trading needs, normalized pre-trade data and liquidity aggregated into a single screen best execution solution. The intelligent model-driven portfolio creation and surveillance combined with smart order routing yields a best-fit bond execution. True Market is privately held by the founders of BondDesk Group, the largest retail fixed income platform later purchased by Tradeweb. About Itiviti Itiviti provides nearly 2,000 financial institutions worldwide with flexible, cross-asset trading solutions that cover the full trade lifecycle. Through its commitment to technology innovation, relentless pursuit of workflow efficiency and an entrepreneurial culture, Itiviti is disrupting the industry with highly-scalable solutions that deliver unprecedented cost savings for clients. For more information, please visit www.itiviti.com. Follow Itiviti on social media on Twitter @Itiviti_AB, on Facebook @ItivitiAB, and on LinkedIn. This information was brought to you by Cision http://news.cision.com https://news.cision.com/itiviti-group-ab/r/itiviti-partners-with-true-market-to-provide-buy-side-firms-with-fixed-income-trading-connectivity-v,c3340141 The following files are available for download: https://mb.cision.com/Main/13830/3340141/1412575.pdf Release
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Agora and Wipro Announce Partnership to Power Real-Time Engagement Through Voice and Video Services
Partnership to provide advanced RTE services and further real time communication efforts for Wipro SANTA CLARA, Calif., May 5, 2021 /PRNewswire/ -- Agora, Inc. (NASDAQ: API), a pioneer and leading platform for real-time engagement APIs, today announced a partnership with Wipro, a leading global information technology, consulting and business process services company, to power the company's real-time engagement (RTE) and communication solutions. Through the partnership, Wipro furthers its commitment to fast, high-quality, and reliable real-time voice and video capabilities. "We're excited to partner with Wipro to deliver truly engaging experiences through voice and video," said Reggie Yativ Agora Chief Operations Officer and Chief Revenue Officer. "More and more companies are looking for RTE enabling technologies, which is driving rapid growth in global demand across all industries. Our partnership with Wipro will unify and extend our ability to help companies around the world better engage with their customers and partners." Agora is allowing people to connect with RTE from anywhere, in ways that capture meaningful human interactions for all who seek them out. Through the partnership, Wipro will embed Agora's streaming video and voice solution in various practices to enhance the "real time" experience for users. This includes leveraging the Agora platform to implement Augmented Reality (AR) into applications to be able to deliver information to workers at the moment they need it. Developers will be provided with simple-to-use, customizable and widely compatible APIs to embed real-time video and voice into their solutions and elevate user experiences. "The way that the world engages within work environments is going through a fundamental shift, and we are looking to connect our workers and customers in ways that was not previously possible," said Michael Vollmer, General Manager, Apple and Interactive Experience, at Wipro Limited. "The future of work is real-time engagement, so we are thrilled to partner with Agora as we continue innovating and developing the next-generation applications." For more information about Agora's partners or its live interactive video and voice SDKs for mobile, web or desktop apps, visit www.agora.io. To learn more about Wipro, visit www.wipro.com. About Agora Agora is the leading Real-Time Engagement Platform as a Service (RTE - PaaS) company. Agora's mission is to make real-time engagement ubiquitous, allowing everyone to interact with anyone, in any application, anytime and anywhere. Agora's platform provides developers simple, flexible and powerful application programming interfaces, or APIs, to embed real-time video and voice engagement experiences into their applications. About Wipro Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 190,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect dots to build a better and a bold new future. Media Contact Taylor Maurits Matter Communications for Agora agora@matternow.com Related Links :http://www.agora.io
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Blue Hat Announces First Quarter 2021 Financial Results, Highlighted by 343% Increase in Revenues to $9.9 Million and 62% Increase in Net Income to $1
XIAMEN, China, May 5, 2021 /PRNewswire/ -- Blue Hat Interactive Entertainment Technology ("Blue Hat" or the "Company") (NASDAQ: BHAT), a leading producer, developer and operator of augmented reality ("AR") interactive entertainment games, toys and educational materials in China, today announced its unaudited financial results for the quarter ended March 31, 2021. First Quarter 2021 Financial Highlights Total revenues of US$9.9 million, compared to US$2.2 million in the first quarter of 2020, driven by increased sales across all lines of business particularly the mobile games and communication services businesses, which saw strong growth following the strategic acquisitions of Xunpusen Technology Co., Ltd. ("Xunpusen") in late 2020 and Fuzhou Csfctech Co., Ltd. ("Csfctech") and its two subsidiaries in January 2021 Gross profit of US$4.1 million, up 143.8% from US$1.7 million in the first quarter of 2020 Income from operations of US$1.7 million, up 96.7% from US$0.9 million in the first quarter of 2020 Net income of US$1.2 million, up 62.0% from US$0.8 million in the first quarter of 2020 US$14.7 million in cash and cash equivalents at March 31, 2021 Management Commentary Mr. Xiaodong Chen, CEO of Blue Hat, stated, "We were pleased with the strong performance across all of our business segments, which resulted in phenomenal top line growth driven by US$5.3 million in contributions from our new IDC business and by a US$2.4 million increase in contributions from mobile games following our acquisition of 51% of Csfctech and its two subsidiaries in January 2021. We achieved 62.0% growth on the bottom line to US$1.2 million during the period and anticipate margins will improve over the course of 2021 as our businesses continue to grow and the expenses normalize from initial highs. We recently announced the official launch of our new AR+ series curriculum, which is an upgrade from our original Augmented Reality Immersive Classes ("ARIC") and has been developed and tested over the past six months. We expect the five urban partnerships that we have signed for the AR+ series curriculum will accelerate the future growth of our AR education business. We are beginning to see tangible results from this development that has strengthened the foundation of our business over the course of the past year, and we anticipate it will provide us with significant long-term growth potential for our product and service offerings." Recent Operating Highlights In April 2021, Blue Hat signed a two-year licensing agreement with Tencent QQ ("QQ") to use its intellectual property, specifically, the QQ penguin logo and QQ emoji, on Blue Hat's toy products and related marketing materials, effective March 1, 2021. QQ launched in 1999 and has become one of the most commonly used instant messenger applications in China. According to QQ's self-disclosed report, there were approximately 617 million active monthly users on their messenger application in 2020. The QQ penguin logo and QQ emoji are dominantly recognizable in Chinese pop culture. In April 2021, Blue Hat announced that its subsidiary company, Fujian Zhongqing Hand in Hand Education Technology Co., Ltd. ("Zhongqing") signed a three-year cooperation agreement of "Augmented Reality Plus", or "AR+" series curriculum with five partners in different cities: Quanzhou in Fujian Province, Huizhou in Guangdong Province, Danzhou in Hainan Province, Fuzhou in Jiangxi Province, and Yinchuan in the Ningxia Hui Autonomous Region. We anticipate rolling out this new curriculum to approximately 150 schools in these five regions as part of this partnership. First Quarter 2021 Results Total revenues were US$9.9 million for the quarter ended March 31, 2021, an increase of US$7.7 million, or 343.1%, compared to US$2.2 million in the first quarter of 2020. The significant revenue growth was primarily attributable to increased contributions from Blue Hat's two recently acquired subsidiaries, Xunpusen in late 2020 and Csfctech in early 2021. Revenues from sales of interactive toys (game series) were US$1.9 million for the quarter ended March 31, 2021, compared to US$1.7 million in the first quarter of 2020. Revenues from sales of interactive toys (animation series) were US$0.09 million for the quarter ended March 31, 2021, a significant increase from zero in the first quarer of 2020. Revenues from mobile games were US$2.4 million for the quarter ended March 31, 2021, an increase of US$1.9 million, or 315.2%, following the closing of the Csfctech acquisition during the period. Revenues from AR education, previously included under interactive toys (animation series), were US$0.2 million for the quarter ended March 31, 2021. Growth in the AR education business has been primarily driven by the roll-out and implementation of Blue Hat's ARIC system to various schools through 2020 and into 2021. Revenues from communication services were US$5.37 million for the quarter ended March 31, 2021. The gain was due to the acquisition of Xunpusen in the second half of 2020. Gross profit was US$4.1 million for the quarter ended March 31, 2021, an increase of 143.8% from US$1.7 million in the first quarter of 2020. Gross margin for the five different business lines were as follows: Interactive toys (animation series): 65.6%, or US$0.06 million Interactive toys (game series): 53.6%, or US$1.0 million Mobile games: 84.5%, or US$2.1 million AR education: 97.2%, or US$0.2 million Communication services: 13.9%, or US$0.7 million Total gross margin was 41.1% for the quarter ended March 31, 2021, compared to 74.6% in the same period last year. The decrease was due to higher initial costs associated with establishing new business lines, such as licensing costs and copyright costs, among others. Total operating expenses were US$2.3 million for the quarter ended March 31, 2021, which includes expenses from Csfctech and its two subsidiaries, compared to US$0.8 million in the first quarter of 2020. Income from operations was US$1.7 million for the quarter ended March 31, 2021, compared to US$0.9 million in the first quarter of 2020. Net income was US$1.2 million, up US$0.57 million, or 62.0%, from US$0.85 million in the first quarter of 2020. The increase was primarily driven by strong revenue growth, which more than offset an increase in operating expenses. Diluted earnings per share were US$0.024 for the quarter ended March 31, 2021, compared to US$0.022 for the first quarter of 2020. During the first quarter of 2021, the Company completed a registered direct offering with two institutional investors for the purchase and sale of 7.16 million ordinary shares at a price of $1.06 per share, resulting in total gross proceeds of approximately $7.59 million before deducting the placement agent's fees and other offering expenses. The net proceeds is approximately $6.8 million. Balance Sheet Highlights As of March 31 2021, Blue Hat had cash and cash equivalents of US$14.7 million, working capital of US$34.6 million and total shareholders' equity of US$75.5 million, compared to cash and cash equivalents of US$15.8 million, working capital of US$34.0 million, and total shareholders' equity of US$58.9 million, respectively, at December 31, 2020. About Blue Hat Blue Hat Interactive Entertainment Technology is a producer, developer and operator of AR interactive entertainment games and toys in China, including interactive educational materials, mobile games, and toys with mobile game features. Distinguished by its own proprietary technology, Blue Hat aims to create an engaging, interactive and immersive community for its users. For more information, please visit the Company's investor relations website at http://ir.bluehatgroup.com. The Company routinely provides important information on its website. Forward-Looking Statements This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the Company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements. Contacts: Blue Hat Interactive Entertainment TechnologyPhone: +86 (592) 228-0010Email: ir@bluehatgroup.net Investor Relations: The Equity Group Inc. Carolyne Y. Sohn, Vice President (415) 568-2255 csohn@equityny.com In ChinaLucy Ma, Associate +86 10 5661 7012lma@equityny.com BLUE HAT INTERACTIVE ENTERTAINMENT TECHNOLOGY AND SUBSIDIARIESUNAUDITED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME For the Three Months Ended March 31, 2021 2020 Revenues $ 9,941,407 2,243,658 Cost of revenue 5,859,847 569,489 Gross profit 4,081,560 1,674,169 Operating expenses: Selling 580,046 173,150 General and administrative 1,315,777 539,710 Research and development 444,211 76,051 Total operating expenses 2,340,034 788,911 Income from operations 1,741,526 885,258 Other income (expense) Interest income 194 377 Interest expense (137,615) (72,607) Other finance expenses (40,970) (57,749) Other income, net 30,509 18,534 Total other (expense) income, net (147,882) (111,445) Income before income taxes 1,593,644 773,813 Provision for income taxes 363,146 14,440 Net income 1,230,498 759,373 Other comprehensive income (loss) Foreign currency translation adjustment (366,176) (605,360) Comprehensive income $ 864,322 154,013 Less: Comprehensive income attributable to non-controlling interests 527,194 - Comprehensive income attributable to Blue Hat Interactive Entertainment shareholders 337,128 154,013 Weighted average number of ordinary shares Basic 47,127,200 35,141,114 Diluted 52,012,580 35,141,114 Earnings per share Basic $0.026 $0.022 Diluted $0.024 $0.022 BLUE HAT INTERACTIVE ENTERTAINMENT TECHNOLOGY AND SUBSIDIARIES UNAUDITED CONSOLIDATED BALANCE SHEETS March 31, December 31, ASSETS 2021 2020 Current assets: Cash and cash equivalents $ 14,674,783 $ 15,800,563 Restricted cash - - Short-term investments - - Accounts receivable, net 28,535,745 16,594,533 Accounts receivable - related party - 1,906,101 Other receivables, net 21,181,096 14,350,223 Other receivables - related party - - Inventories 168,346 117,075 Prepayments, net 5,238,393 1,917,780 Total current assets 69,798,363 50,686,275 Property and equipment, net 4,342,565 4,258,121 Other assets: Prepayments 7,205,230 4,164,274 Operating lease, right-of-use asset 355,805 290,410 Intangible assets, net 26,784,385 14,252,575 Long-term investments 1,826,123 1,914,668 Deferred tax assets 252,564 119,127 Goodwill accounting 213,688 - Total other assets 36,637,795 20,741,054 Total assets $ 110,778,723 $ 75,685,450 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Short-term loans - banks $ 4,338,151 $ 5,129,295 Current maturities of long-term loans - third party - 14,117 Accounts payable 3,110,529 935,588 Convertible bonds payable 54,150 739,189 Other payables and accrued liabilities 16,470,149 1,846,917 Other payables - related party 25,677 25,837 Operating lease liabilities - current 283,352 300,468 Customer deposits 756,945 941,877 Accrual interest payable 751,641 - Taxes payable 9,394,094 6,802,454 Total current liabilities 35,184,688 16,735,742 Other liabilities: Operating lease liability 85,493 - Long-term loans - third party - - Total other liabilities 85,493 - Total liabilities 35,270,181 16,735,742 COMMITMENTS AND CONTINGENCIES Shareholders' equity Ordinary shares, $0.001 par value, 100,000,000 shares authorized, 47,127,200 shares issued and outstanding as of March 31, 2021, and 38,553,694 shares issued and outstanding as of December 31, 2020 47,127 38,554 Stock subscription receivable Additional paid-in capital 31,453,071 23,466,482 Statutory reserves 2,204,174 2,204,174 Retained earnings 32,090,702 31,387,398 Accumulated other comprehensive income (loss) 1,375,520 1,741,696 Total Blue Hat Interactive Entertainment Technology shareholders' equity 67,170,594 58,838,304 Non-controlling interests 8,337,948 111,404 Total equity 75,508,542 58,949,708 Total liabilities and shareholders' equity $ 110,778,723 $ 75,685,450 Related Links :http://www.bluehatgroup.net
