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Tencent Cloud Shines Spotlight on Affordable AAA Game Tech for Everyone at 2023 Game Developers Conference
With gaming in its DNA, Tencent Cloud highlights its commitment to the gaming community through high-quality, interactive, secure and cost-effective gaming capabilities, empowering developers from all around the globe SAN FRANCISCO, March 24, 2023 /PRNewswire/ -- Tencent Cloud today celebrates the success of its participation in the annual Game Developers Conference (GDC), highlighting its cutting-edge game technologies and one-stop solution that make AAA game tech accessible and affordable for game developers around the globe. At GDC, Tencent Cloud showcased its latest game tech and offerings, including solutions for game infrastructure, security, and performance, in-game voice, media processing, anti-cheat, QA testing, and more. At GDC, Tencent Cloud showcased its latest game tech and offerings, including solutions for game infrastructure, security, and performance, in-game voice, media processing, anti-cheat, QA testing, and more. Also highlighted are the company's capabilities to deliver cost-effective, purpose-built game tech that delivers ultrasmooth gaming, accelerates game downloads, enhances in-game engagement, provides real-time interactions, and tests game compatibility – ensuring fun and fair gameplay for gamers without worrying about malicious attacks. Poshu Yeung, Senior Vice President, Tencent Cloud International, said, "Trusted by AAA game titles globally, Tencent Cloud's services are backed by unparalleled experience and resources, massive infrastructure, and industry-leading technology. Indeed, it's all down to our DNA. We shall continue to provide more comprehensive gaming solutions to the industry by taking gaming experiences to new heights and we look forward to having more developers access our specialty in ecosystem, interactive and immersive services." What Makes a Great Game? Seamless gameplay, interactive elements, and immersive environments are hallmarks of some of the most compelling games, but creating this type of gaming experience requires extensive infrastructure and resources, advanced game tech, and robust security features. At the event, insights were shared on how to harness the power of Tencent Cloud Media Services and Tencent Cloud EdgeOne, to build interactive and immersive global games that captivate players, with a focus on creating immersive games via video, audio, networking security and performance. Media Services at the Core of Seamless Gaming Tencent Cloud's one-stop game media service solution supports global clients with ultra-low latency in-game communication, interactive game livestreaming, efficient media processing service and cloud game streaming to help more game providers boost their players' engagement and generate user growth. The solution can be applied to various scenarios, such as: GameFi; providing one-to-one chat and group chat functions in the gaming social scene; social gaming; game and cloud live streaming; and building virtual worlds. In-Game Voice Chat – the Key to Immersive Interactions When it comes to game voice interaction, ensuring clear and smooth voice quality is key. Tencent Cloud's Game Multimedia Engine (GME), the next-gen in-game voice chat (VoIP) service, features capabilities for multiple room management, multiple role management, ultra-large voice channel for 100,000 gamers, and other voice features enabling various creative possibilities. Integrated, Connected, Secure Gaming Network Game CDN highlights the significance of network connectivity, ensuring users connect to games with the lowest latency possible. Tencent Cloud EdgeOne leverages Tencent's experience in edge computing, network performance and top security capabilities, and edge nodes all over the world, to help the gaming industry to create fun, seamless and secure experiences. Worry-Free, Ultra-Fair Gameplay for Everyone To address rising concerns about game security, like immersion-breaking cheats, and DDoS attacks, Tencent Cloud's Anti-Cheat Expert (ACE) guards the game client against malicious tampering, debugging and injection, as well as invalidates vicious modifiers and protects game memory data integrity. It can also precisely identify and effectively block a variety of techniques employed by game cheaters, security game integrity and ensure fair gameplay with 99.99% detection accuracy. Complimenting this, WeTest Game Quality Assurance is an end-to-end game testing and monitoring platform that offers tools to monitor and improve game quality for the full life cycle of games. Make Fun, Fast, and Fair Games with Tencent Cloud Moving forward, Tencent Cloud will continue to provide more comprehensive gaming solutions that align with its vision of "Immersive Convergence" in tech. From indie startups to major development companies, the company aims to offer game developers leading solutions that provide the best and most affordable game tech for everyone, ensuring fun, fast and fair gaming experiences for all players. About Tencent Cloud Tencent Cloud, one of the world's leading cloud companies, is committed to creating innovative solutions to resolve real-world issues and enabling digital transformation for smart industries. Through our extensive global infrastructure, Tencent Cloud provides businesses across the globe with stable and secure industry-leading cloud products and services, leveraging technological advancements such as cloud computing, Big Data analytics, AI, IoT and network security. It is our constant mission to meet the needs of industries across the board, including the fields of gaming, media and entertainment, finance, healthcare, property, retail, travel and transportation.
ASIAN POP SUPERSTAR JJ LIN AND HIS PROFESSIONAL ESPORTS TEAM 'TEAM SMG' TAP INTO THEIR FAVORITE FLAVORS OF MATE MATE™ ALL NATURAL ENERGY DRI
SINGAPORE, March 23, 2023 /PRNewswire/ -- Mate Mate™, a next-generation, all-natural energy drink is making a splash in the pro-gaming scene, recruiting the premier esports team in Asia, Team SMG and its founder, Asian pop superstar JJ Lin to be its brand ambassadors. &amp;amp;amp;nbsp; Team SMG fields two divisions in Singapore, Mobile Legends: Bang Bang Singapore and their all-female VALORANT team. Both divisions finished top 6 this year in Singapore and APAC respectively and will be competing in their respective leagues next season. This fruity choice was the pick of the esports team's Singaporean founder, JJ Lin. "As a music producer and avid gamer, I am very excited to discover Mate Mate™, a refreshing energy drink for Team SMG and myself, a timely booster as we prep for the new gaming season and concert tour! By the way, the purple Berry Vitamins flavor is my fave!" he remarked. These professional gamers would undoubtedly keep their energy and spirits up with their beverage of choice during this contest. Orrin Xu, General Manager of Team SMG said, "It's important for our players to stay energized and refreshed during long hours of matches, and we're thrilled to have Mate Mate™ to help us achieve that for our Singaporean rosters!" "We especially love Tropical Juice and Pink Hydration flavors too!" referring to two of the four Mate Mate™ flavors. Tropical Juice features a 100% natural blend of pineapple and mango, while Pink Hydration offers an exotic combo of lychee and white peach, with electrolytes for hydration. Other options include Original, featuring a flavorful and refreshing taste to naturally boost your energy; and Berry Vitamins, a delicious mix of strawberry and raspberry, complemented with B-Vitamin complex for optimum brain function. Avid gamers and anyone else who needs to recharge from an all-natural, next generation energy drink can find Mate Mate™ online through the company's web store at www.matemate.com, or purchase them from Cold Storage® supermarkets, 7-Eleven® convenience stores and Shell® gas stations. With more than a decade of experience in the beverage business, Mate Mate's co-founders Victor Wang and Wang Zheng (Michele) decided to inject some excitement into the energy drink category with a product that Victor says, "looks cool, tastes great, has a friendly personality, plus it has health benefits." He added, "All our products are low in sugar and made with natural ingredients, free from preservatives and artificial colours. We are proud to officially be the first energy drink in the world to use the natural ingredient Wellmune, which is clinically proven to strengthen your immune system and improve mental clarity and combat fatigue." The drink's packaging is easily recognizable as it features a party alien named "M8T3" (pronounced as Mate). According to Wang Zheng (Michele), "We wanted to build a lifestyle full of energy and fun, that's why we created M8T3 to represent a mate by our side, and always there to recharge us." About MATE MATE™ Developed in Singapore by Victor Wang and Wang Zheng (Michele), Mate Mate™ is an energy drink specially formulated with Mate Tea and other natural ingredients to deliver a mental and physical energy boost for those looking to make the most of their wakeful days and longer nights. For more information on these all-natural energy drinks, visit the Mate Mate™ website at www.matemate.com. Follow Mate Mate™ on Instagram at https://www.instagram.com/matemateenergy/ Tiktok at https://www.tiktok.com/@matemateenergy Youtube at https://www.youtube.com/@matemateenergy/ For business enquiries, please contact: email@example.com MATE MATE: the 1st Energy Drink with Wellmune About Team SMG Established in 2017, Team SMG is a premier esports organization in Asia with teams in China and Southeast Asia. The team quickly rose to prominence in the esports scene with their triumphant win at the Arena of Valor International Championship. Co-founded by JJ Lin, one of the biggest acts in Asia, Team SMG sets its sight on the global esports arena.
Ragnarok Origin reached 5,000,000 pre-registrations
The highly-anticipated game launch is just around the corner SINGAPORE, March 22, 2023 /PRNewswire/ -- Ragnarok Origin, the official sequel to the MMORPG Ragnarok Online, published by Gravity Game Hub, has attracted a large number of new and seasoned players since the start of the game pre-registration event. It has been officially announced today that Ragnarok Origin has reached an impressive milestone of 5 million pre-registrations, unlocking a variety of generous rewards for eager players. Gravity Game Hub invites more adventurers to pre-register and unlock more exciting in-game and physical prizes. Pre-registration link: https://roo.pub/3YCtRA1 Ragnarok Online returns with its Legendary Gameplay 【Ragnarok Online returns with its Legendary Gameplay】 Ragnarok Online (RO) is a well-known classic game in online gaming history. RO has been released in over 80 countries with over 100 million registered users worldwide. Gravity Game Hub aims to deliver an authentic RO gaming experience by preserving its classic gameplay elements, while also incorporating the game's charming style and backstory in Ragnarok Origin. Ragnarok Origin flawlessly recreates all of the scenes from the original game, bringing back nostalgic memories for many players. At the same time, the graphics in Ragnarok Origin have been enhanced, heightening the visual experience of players. Additionally, the six classic jobs from RO have been meticulously replicated in Ragnarok Origin. As players progress through their adventure in Ragnarok Origin, they are able to choose from a variety of specialized classes, unlocking a wider range of combat gameplay options for their characters. Finally, Ragnarok Origin brings back numerous traditional gameplay elements from RO, including an immersive storyline with thrilling quests, an in-game trading system, and a guild system that promotes a vibrant social community. The goal of Ragnarok Origin is to recapture the same emotion and thrill that players felt when they first played RO. 【Ragnarok Origin breaks away from the conventional MMO and embarks on the path of Innovation】 Since the launch of RO 20 years ago, the gaming industry has continuously evolved and changed. Ragnarok Origin is a game that brings back a classic and legendary title and introduces numerous innovations to keep the gameplay fresh and exciting. In the game, players will experience a brand new pet system, where cute and adorable pets not only follow along the journey of the adventurers but also provide significant assistance to them. Apart from the engaging pet system, adventurers can team up to embark on a heartwarming and enjoyable guild adventure journey together. Guild members can gather together and battle powerful bosses side by side, and share rewards. Moreover, there are exceptional MVP monsters that offer adventurers the chance to acquire rare in-game rewards. With numerous novel and exciting game features such as the AFK mode, players will be able to progress easily, while enjoying guaranteed card drops. Furthermore, with a huge variety of adorable in-game costumes to choose from, female players will without a doubt, have an enjoyable experience! With the introduction of hundreds of cute pet mounts, players are sure to have a pleasant and relaxing time. Ragnarok Origin breaks away from the conventional MMO and embarks on the path of Innovation 【Get ready for the Ragnarok Origin game launch event】 Familiar and uplifting music resounds across the continent of Midgard as each day and night passes, with the NPC Kafras now responding to the adventurers, giving them a warm welcome. Ragnarok Origin aims to revive fond memories for returning players, and for new players to embark on a fresh, adventurous journey. Ragnarok Origin CBT will be ending on 22 March 2023, 23:59 and to thank players for their support, Ragnarok Origin will be hosting a game launch event where it will be live-streamed. During the launch event, game details and surprises will be revealed! For more details on the "Ragnarok Origin" event, please follow the official Facebook page and Discord Community. Facebook: https://roo.pub/3TbYmeL Discord: https://roo.pub/3LeFQRa About Gravity Game Hub Established in 2021, Gravity Game Hub (GGH) Pte Ltd is a game publisher and developer focusing on online and mobile games. Gravity Game Hub is committed to delivering an interactive gaming experience and creating a dynamic community for all players in South East Asia. Get ready for the Ragnarok Origin game launch event
LIGHTSPEED STUDIOS Showcases R&D and Innovative Solutions in Game Development at GDC 2023
LIGHTSPEED STUDIOS will also reveal the development details of its upcoming open-world mobile survival game, UNDAWN, and its existing global hit, PUBG MOBILE. SAN FRANCISCO, March 21, 2023 /PRNewswire/ -- Today, LIGHTSPEED STUDIOS, a leading global game developer, announced that it will be featured at the 2023 Game Developers Conference (GDC). With its upgraded brand and vision, LIGHTSPEED STUDIOS will present ten sessions at the event, sharing its latest best practices in game development, unveiling behind-the-scenes details from its existing and upcoming titles as well as releasing its strategies for global expansion and talent acquisition. MEET LIGHTSPEED STUDIOS AT GDC 2023 At GDC 2023, LIGHTSPEED STUDIOS sessions will cover topics including open virtual world creation, AI-powered technology utilization, technical art development, and mobile gaming optimization. LIGHTSPEED STUDIOS will also unveil details of its upcoming mobile survival game, UNDAWN, discussing its technical arts and programming skills to bring creative concepts to life. It will also highlight its success in optimizing the performance of the global hit, PUBG MOBILE (co-developed with KRAFTON, Inc.), for mobile devices and platforms. LIGHTSPEED STUDIOS is seeking global game development talent at GDC 2023 to join its multi-faceted team and propel its vision for a worldwide gaming ecosystem, the LIGHTSPEED UNIVERSE, over the next decade. GDC 2023 will feature a dedicated session where LIGHTSPEED STUDIOS will share its business growth and talent acquisition strategies. "Our commitment to crafting next-generation games, coupled with our persistent passion, is what sets us apart from all other game developers. We're excited to showcase our full-fledged and cutting-edge exploration in game development and innovation in front of gaming professionals from around the world," said Jerry Chen, president of LIGHTSPEED STUDIOS. "As we are driving our global growth and development forward with continuous investments in talent, R&D, and global platforms, we welcome passionate developers and artists to join us as we advance the art and science of gaming." To address some of the most challenging technical barriers in the industry, at GDC 2023, experts from LIGHTSPEED STUDIOS will present a range of tools and technologies that have been developed in-house. Among these solutions, XPR Model addresses the scalability issues associated with creating an open-world game due to the increasing number of players or entities as well as the rising cost of computing and synchronization. Additionally, as an alternative to the existing pre-generated approaches, Photon Water System enables both pre-computing and simultaneous updating of water data, which will be converted into an adaptive water mesh for real-time rendering for open-world game creation. AI-powered technology is increasingly used for more realistic visual simulation, optimizing the player experience and content digitization. LIGHTSPEED STUDIOS will showcase a major breakthrough in the deployment of AI-based solutions for the gaming industry. It will introduce 'Wobbledoll', a self-developed, machine-learning-based method that generates high-fidelity motions with less engineering complexity, addressing the long-standing challenge of executing realistic full-body physical interactions. LIGHTSPEED STUDIOS will reveal an exclusive look at the upcoming open-world mobile survival game, UNDAWN, supported by a discussion with studio experts in technical arts and engines. The presentation will show how the development team is able to simulate the buoyancy and transparency of billowy ocean on mobile devices and PCs, while also maintaining limited performance budgets. This session will highlight LIGHTSPEED STUDIOS' expertise in bringing imagination to life with its in-depth understanding of the physical world and advanced development capabilities. For a global blockbuster like PUBG MOBILE, the issue of continuing to enable it to support a range of global phone models - from those released ten years ago to the most current models - remains a challenging. Experts from LIGHTSPEED STUDIOS will disclose their multi-level performance optimization strategy, which provides an optimal and satisfactory gaming experience to all users, regardless which phone they use. Presentations from LIGHTSPEED STUDIOS are available to GDC 2023 attendees with All Access and Summit Passes. To get more information about the LIGHTSPEED STUDIOS presentations and where to watch them, please visit: Learn more about LIGHTSPEED STUDIOS at GDC: https://schedule.gdconf.com/search/LIGHTSPEED+STUDIOS Website: https://www.lightspeed-studios.com/ GDC Schedule & Session Viewer - https://schedule.gdconf.com/ About LIGHTSPEED STUDIOS LIGHTSPEED STUDIOS is a leading global game developer with teams across China, United States, Singapore, Canada, United Kingdom, France, Japan, South Korea, New Zealand, and United Arab Emirates.LIGHTSPEED STUDIOS has created over 50 games across multiple platforms and genres for over 4 billion registered users. It is the co-developer of worldwide hit PUBG MOBILE (co-developed with KRAFTON, Inc.). LIGHTSPEED STUDIOS is made up of passionate players who advance the art & science of game development through great stories, great gameplay, and advanced technology. We are focused on bringing next generation experiences to gamers who want to enjoy them anywhere, anytime, across multiple genres and devices.More information about LIGHTSPEED STUDIOS please visit www.lightspeed-studios.com, and follow us on Twitter, Facebook and YouTube.
HUYA Inc. Reports Fourth Quarter and Fiscal Year 2022 Unaudited Financial Results
GUANGZHOU, China, March 21, 2023 /PRNewswire/ -- HUYA Inc. ("Huya" or the "Company") (NYSE: HUYA), a leading game live streaming platform in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2022. Fourth Quarter 2022 Highlights Total net revenues for the fourth quarter of 2022 were RMB2,102.2 million (US$304.8 million), compared with RMB2,808.7 million for the same period of 2021. Net loss attributable to HUYA Inc. was RMB524.4 million (US$76.0 million) for the fourth quarter of 2022, compared with RMB312.7 million for the same period of 2021. Non-GAAP net loss attributable to HUYA Inc. was RMB440.0 million (US$63.8 million) for the fourth quarter of 2022, compared with RMB241.7 million for the same period of 2021. Average mobile MAUs of Huya Live for the fourth quarter of 2022 was 85.5 million, compared with 85.4 million for the same period of 2021. Total number of paying users of Huya Live for the fourth quarter of 2022 was 5.5 million, compared with 5.6 million for the same period of 2021. Fiscal Year 2022 Highlights Total net revenues in fiscal year 2022 were RMB9,220.5 million (US$1,336.8 million), compared with RMB11,351.4 million in 2021. Net loss attributable to HUYA Inc. in fiscal year 2022 was RMB486.7 million (US$70.6 million), compared with a net income attributable to HUYA Inc. of RMB583.5 million in 2021. Non-GAAP net loss attributable to HUYA Inc. in fiscal year 2022 was RMB281.4 million (US$40.8 million), compared with a non-GAAP net income attributable to HUYA Inc. of RMB454.4 million in 2021. Average mobile MAUs of Huya Live in fiscal year 2022 was 84.3 million, compared with 80.9 million in 2021. Average quarterly paying users of Huya Live in fiscal year 2022 was 5.6 million, compared with 5.8 million in 2021. "We ended a challenging 2022 with our full-year average mobile MAUs of Huya Live up by 4.2% to 84.3 million and annual total revenues of approximately RMB9.2 billion. In the fourth quarter, we continued to bring high-quality e-sports tournaments and entertainment programs to our users. We also enhanced the interactive experience between broadcasters and viewers through in-depth collaborations with game studios, helping us stabilize our user scale and achieve healthy user engagement levels," said Mr. Rongjie Dong, Chief Executive Officer of Huya. "While we may face continued pressure from the volatile market environment in the near term, we are shoring up our long term prospects. We will continue to reinforce Huya's core competencies and actively explore a diversified business ecosystem for new growth opportunities, while maintaining our leadership position in the game live streaming market." Ms. Ashley Xin Wu, Vice President of Finance of Huya, commented, "Against the backdrop of macro headwinds and the COVID-19 pandemic resurgence at the end of the year, our total revenues were RMB2.1 billion for the fourth quarter of 2022. Lower revenues and higher content costs associated with a large e-sports event in the quarter contributed to a gross loss for the period. At the same time, we continued to promote operational efficiencies, reducing our total operating expenses in the fourth quarter by 34.7% year-over-year. Looking ahead, we will further optimize our cost and expense structure and focus our resources on areas with better returns to strengthen our operational and financial performance."  "Non-GAAP net loss attributable to HUYA Inc." is defined as net loss attributable to HUYA Inc. excluding (i) share-based compensation expenses, (ii) gain on fair value change of investments, net of income taxes, (iii) gain arising from disposal of an equity investment, net of income taxes, (iv) impairment loss of investments and (v) loss on equity method investment, net of income taxes. For more information, please refer to the section titled "Use of Non-GAAP Financial Measures" and the table captioned "HUYA Inc. Unaudited Reconciliations of GAAP and Non-GAAP Results" at the end of this press release.  Refers to average monthly active users on mobile apps. Average mobile MAUs for any period is calculated by dividing (i) the sum of active users on the mobile apps for each month during such relevant period, by (ii) the number of months during such relevant period.  Refers to the sum of user accounts that purchased various products and services on our platform at least once during such relevant period. Fourth Quarter 2022 Financial Results Total net revenues for the fourth quarter of 2022 were RMB2,102.2 million (US$304.8 million), compared with RMB2,808.7 million for the same period of 2021. Live streaming revenues were RMB1,975.2 million (US$286.4 million) for the fourth quarter of 2022, compared with RMB2,612.9 million for the same period of 2021, primarily due to lower average spending per paying user and a decreased number of paying users on Huya Live, as the recent macro and regulatory environment adversely affected the sentiment of the Company's paying users. Advertising and other revenues were RMB127.0 million (US$18.4 million) for the fourth quarter of 2022, compared with RMB195.8 million for the same period of 2021, primarily due to soft demand for advertising services resulting from the challenging macro environment, and lower content sub-licensing revenues. Cost of revenues decreased by 15.0% to RMB2,386.4 million (US$346.0 million) for the fourth quarter of 2022 from RMB2,807.7 million for the same period of 2021, primarily due to decreased revenue sharing fees and content costs, as well as bandwidth costs. Revenue sharing fees and content costs decreased by 11.9% to RMB2,170.6 million (US$314.7 million) for the fourth quarter of 2022 from RMB2,463.1 million for the same period of 2021, primarily due to the decrease in revenue sharing fees associated with the decline in live streaming revenues. This was partially offset by the increase in spending on e-sports content, which was mainly related to the higher content cost booked for a large e-sports event that occurred in the fourth quarter of 2022. Bandwidth costs decreased by 45.5% to RMB99.5 million (US$14.4 million) for the fourth quarter of 2022 from RMB182.7 million for the same period of 2021, primarily due to improved bandwidth cost management and continued technology enhancement efforts, as well as less overseas bandwidth usage as a result of the strategic adjustment in the Company's overseas business to focus on key markets. Gross loss was RMB284.2 million (US$41.2 million) for the fourth quarter of 2022, compared with a gross profit of RMB1.1 million for the same period of 2021, primarily due to lower revenues and increased content costs related to e-sports content. Gross margin was negative 13.5% for the fourth quarter of 2022, compared with approximately zero for the same period of 2021. Research and development expenses decreased by 30.0% to RMB143.9 million (US$20.9 million) for the fourth quarter of 2022 from RMB205.7 million for the same period of 2021, primarily due to decreased personnel-related expenses and share-based compensation expenses. Sales and marketing expenses decreased by 48.2% to RMB113.2 million (US$16.4 million) for the fourth quarter of 2022 from RMB218.5 million for the same period of 2021, primarily due to decreased marketing and promotion fees, as well as personnel-related expenses. General and administrative expenses decreased by 12.6% to RMB79.1 million (US$11.5 million) for the fourth quarter of 2022 from RMB90.5 million for the same period of 2021, primarily due to decreased share-based compensation expenses. Other income was RMB43.8 million (US$6.4 million) for the fourth quarter of 2022, compared with RMB56.3 million for the same period of 2021, primarily due to lower tax refunds and government subsidies. Operating loss was RMB576.7 million (US$83.6 million) for the fourth quarter of 2022, compared with RMB457.3 million for the same period of 2021. Interest and short-term investments income were RMB101.7 million (US$14.7 million) for the fourth quarter of 2022, compared with RMB61.6 million for the same period of 2021, primarily due to increased interest rates. Net loss attributable to HUYA Inc. was RMB524.4 million (US$76.0 million) for the fourth quarter of 2022, compared with RMB312.7 million for the same period of 2021. Non-GAAP net loss attributable to HUYA Inc., which excludes share-based compensation expenses, impairment loss of investments and loss on equity method investment, net of income taxes, was RMB440.0 million (US$63.8 million) for the fourth quarter of 2022, compared with RMB241.7 million for the same period of 2021, which excludes share-based compensation expenses. Basic and diluted net loss per American depositary share ("ADS") were each RMB2.16 (US$0.31) for the fourth quarter of 2022. Basic and diluted net loss per ADS were each RMB1.31 for the fourth quarter of 2021. Each ADS represents one Class A ordinary share of the Company. Non-GAAP basic and diluted net loss per ADS were each RMB1.81 (US$0.26) for the fourth quarter of 2022. Non-GAAP basic and diluted net loss per ADS were each RMB1.01 for the fourth quarter of 2021. As of December 31, 2022, the Company had cash and cash equivalents, short-term deposits, short-term investments and long-term deposits of RMB10,749.2 million (US$1,558.5 million), compared with RMB11,008.2 million as of September 30, 2022. Fiscal Year 2022 Financial Results Total net revenues were RMB9,220.5 million (US$1,336.8 million) in fiscal year 2022, compared with RMB11,351.4 million in the prior year. Live streaming revenues were RMB8,195.9 million (US$1,188.3 million) in fiscal year 2022, compared with RMB10,186.2 million in the prior year, primarily due to lower average spending per paying user and a decreased number of paying users on Huya Live, as the macro and regulatory environment during the year adversely affected the sentiment of the Company's paying users. Advertising and other revenues were RMB1,024.6 million (US$148.5 million) in fiscal year 2022, compared with RMB1,165.2 million in the prior year, due to soft demand for advertising services resulting from the challenging macro environment. Cost of revenues decreased by 11.7% to RMB8,609.6 million (US$1,248.3 million) in fiscal year 2022 from RMB9,751.2 million in the prior year, primarily due to decreased revenue sharing fees and content costs, as well as bandwidth costs. Revenue sharing fees and content costs decreased by 10.0% to RMB7,535.7 million (US$1,092.6 million) in fiscal year 2022 from RMB8,374.6 million in the prior year, primarily due to the decrease in revenue sharing fees associated with declined live streaming revenues, and lower costs related to content creators, partially offset by the increase in spending on e-sports content. Bandwidth costs decreased by 24.7% to RMB537.2 million (US$77.9 million) in fiscal year 2022 from RMB713.7 million in the prior year, primarily due to improved bandwidth cost management and continued technology enhancement efforts, as well as less overseas bandwidth usage as a result of the strategic adjustment in the Company's overseas business to focus on key markets. Gross profit was RMB610.9 million (US$88.6 million) in fiscal year 2022, compared with RMB1,600.3 million in the prior year, primarily due to lower revenues and increased content costs related to e-sports content. Gross margin was 6.6% in fiscal year 2022, compared with 14.1% in fiscal year 2021. Research and development expenses decreased by 16.9% to RMB680.4 million (US$98.6 million) in fiscal year 2022 from RMB818.9 million in the prior year, primarily due to decreased share-based compensation expenses and personnel-related expenses. Sales and marketing expenses decreased by 36.4% to RMB482.9 million (US$70.0 million) in fiscal year 2022 from RMB759.5 million in the prior year, primarily due to decreased marketing and promotion fees, as well as personnel-related expenses. General and administrative expenses were RMB320.4 million (US$46.5 million) in fiscal year 2022, compared with RMB326.8 million in the prior year, primarily attributable to decreased share-based compensation expenses. Other income was RMB166.3 million (US$24.1 million) in fiscal year 2022, compared with RMB274.7 million in the prior year, primarily attributable to lower tax refunds and government subsidies in fiscal year 2022 and realized damages received in the first quarter of 2021 from a favorable outcome in a broadcaster-related lawsuit. Operating loss was RMB706.5 million (US$102.4 million) in fiscal year 2022, compared with RMB30.2 million in the prior year. Interest and short-term investments income were RMB298.2 million (US$43.2 million) in fiscal year 2022, compared with RMB247.0 million in the prior year, primarily due to increased interest rates. Share of loss in equity method investments, net of income taxes was RMB0.5 million (US$0.1 million) in fiscal year 2022, compared with share of income in equity method investments, net of income taxes of RMB379.2 million in the prior year, primarily due to the investment gain related to a disposal of equity investment in the third quarter of 2021, as disclosed in a Form 6-K filed on July 6, 2021. Net loss attributable to HUYA Inc. was RMB486.7 million (US$70.6 million) in fiscal year 2022, compared with a net income attributable to HUYA Inc. of RMB583.5 million in the prior year. Non-GAAP net loss attributable to HUYA Inc., which excludes share-based compensation expenses, gain on fair value change of investments, net of income taxes, impairment loss of investments, and loss on equity method investment, net of income taxes was RMB281.4 million (US$40.8 million) in fiscal year 2022, compared with a non-GAAP net income attributable to HUYA Inc. of RMB454.4 million in the prior year, which excludes share-based compensation expenses, gain on fair value change of investments, net of income taxes, and gain arising from disposal of an equity investment, net of income taxes. Basic and diluted net loss per ADS were each RMB2.02 (US$0.29) in fiscal year 2022. Basic and diluted net income per ADS were RMB2.45 and RMB2.41, respectively, in fiscal year 2021. Non-GAAP basic and diluted net loss per ADS were each RMB1.17 (US$0.17) in fiscal year 2022. Non-GAAP basic and diluted net income per ADS were RMB1.91 and RMB1.88, respectively, in fiscal year 2021. Conference Call The Company's management will host an earnings conference call at 8:00 a.m. U.S. Eastern Time on March 21, 2023 (8:00 p.m. Beijing/Hong Kong time on March 21, 2023). For participants who wish to join the call, please complete online registration using the link provided below 20 minutes prior to the scheduled call start time. Upon registration, participants will receive the conference call access information, including dial-in numbers, a personal PIN and an e-mail with detailed instructions to join the conference call. Participant Online Registration: https://register.vevent.com/register/BI2946f2083b1740f6aced48c04ff6e362 Once complete the registration, please dial-in at least 10 minutes before the scheduled start time of the earnings call and enter the personal PIN as instructed to connect to the call. A live webcast of the earnings call will be accessible at https://ir.huya.com and a replay of the webcast will be available following the session. About HUYA Inc. HUYA Inc. is a leading game live streaming platform in China with a large and active game live streaming community. The Company cooperates with e-sports event organizers, as well as major game developers and publishers, and has developed e-sports live streaming as one of the most popular content genres on its platform. The Company has created an engaged, interactive and immersive community for game enthusiasts of China's young generation. Building on its success in game live streaming, Huya has also extended its content to other entertainment content genres. Huya's open platform also functions as a marketplace for broadcasters and talent agencies to congregate and closely collaborate with the Company. Use of Non-GAAP Financial Measures The unaudited condensed consolidated financial information is prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"), except that the consolidated statement of changes in shareholders' equity, consolidated statements of cash flows, and the detailed notes have not been presented. Huya uses non-GAAP gross profit (loss), non-GAAP operating (loss) income, non-GAAP net (loss) income attributable to HUYA Inc., non-GAAP net (loss) income attributable to ordinary shareholders, non-GAAP basic and diluted net (loss) income per ordinary shares, and non-GAAP basic and diluted net (loss) income per ADS, which are non-GAAP financial measures. Non-GAAP gross profit (loss) is gross profit (loss) excluding share-based compensation expenses allocated in cost of revenues. Non-GAAP operating (loss) income is operating (loss) income excluding share-based compensation expenses. Non-GAAP net (loss) income attributable to HUYA Inc. is net (loss) income attributable to HUYA Inc. excluding share-based compensation expenses, gain on fair value change of investments, net of income taxes, gain arising from disposal of an equity investment, net of income taxes, to the extent applicable, and impairment loss of investments. Non-GAAP net (loss) income attributable to ordinary shareholders is net (loss) income attributable to ordinary shareholders excluding share-based compensation expenses, gain on fair value change of investments, net of income taxes, gain arising from the disposal of an equity investment, net of income taxes, impairment loss of investments, and loss on equity method investment, net of income taxes, to the extent applicable. Non-GAAP basic and diluted net (loss) income per ADS is non-GAAP net (loss) income attributable to ordinary shareholders divided by weighted average number of ADS used in the calculation of non-GAAP basic and diluted net (loss) income per ADS. The Company believes that separate analysis and exclusion of the impact of (i) share-based compensation expenses, (ii) gain on fair value change of investments, net of income taxes, (iii) gain arising from disposal of an equity investment, net of income taxes, (iv) impairment loss of investments, and (v) loss on equity method investment, net of income taxes, add clarity to the constituent parts of its performance. The Company reviews these non-GAAP financial measures together with GAAP financial measures to obtain a better understanding of its operating performance. It uses the non-GAAP financial measures for planning, forecasting and measuring results against the forecast. The Company believes that non-GAAP financial measures represent useful supplemental information for investors and analysts to assess its operating performance without the effect of (i) share-based compensation expenses, which have been and will continue to be significant recurring expenses in its business, and (ii) gain on fair value change of investments, net of income taxes, (iii) gain arising from disposal of an equity investment, net of income taxes, (iv) impairment loss of investments, and (v) loss on equity method investment, net of income taxes, which may recur when there is observable price change in the future. However, the use of non-GAAP financial measures has material limitations as an analytical tool. One of the limitations of using non-GAAP financial measures is that they do not include all items that impact the Company's net (loss) income for the period. In addition, because non-GAAP financial measures are not measured in the same manner by all companies, they may not be comparable to other similar titled measures used by other companies. In light of the foregoing limitations, you should not consider a non-GAAP financial measure in isolation from or as an alternative to the financial measures prepared in accordance with U.S. GAAP. The presentation of these non-GAAP financial measures is not intended to be considered in isolation from, or as a substitute for, the financial information prepared and presented in accordance with U.S. GAAP. For more information on these non-GAAP financial measures, please see the table captioned "HUYA Inc. Unaudited Reconciliations of GAAP and Non-GAAP Results" at the end of this announcement. Exchange Rate Information This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.8972 to US$1.00, the noon buying rate in effect on December 30, 2022, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the Renminbi or U.S. dollars amounts referred to in this announcement could have been or could be converted into U.S. dollars or Renminbi, as the case may be, at any particular rate or at all. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Huya's strategic and operational plans, contain forward-looking statements. Huya may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission ("SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Huya's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Huya's goals and strategies; Huya's future business development, results of operations and financial condition; the expected growth of the game live streaming market; the expectation regarding the rate at which to gain active users, especially paying users; Huya's ability to monetize the user base; Huya's efforts in complying with applicable data privacy and security regulations; fluctuations in general economic and business conditions in China; the impact of the COVID-19 to Huya's business operations and the economy in China and elsewhere generally; any regulatory developments in laws, regulations, rules, policies or guidelines applicable to Huya; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Huya's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Huya does not undertake any obligation to update any forward-looking statement, except as required under applicable law. For investor and media inquiries, please contact: In China: HUYA Inc.Investor RelationsTel: +86-20-2290-7829E-mail: firstname.lastname@example.org The Piacente Group, Inc.Jenny CaiTel: +86-10-6508-0677E-mail: email@example.com In the United States: The Piacente Group, Inc. Brandi PiacenteTel: +1-212-481-2050E-mail: firstname.lastname@example.org HUYA INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (All amounts in thousands, except share, ADS, per share data and per ADS data) As of December 31, As of December 31, 2021 2022 2022 RMB RMB US$ Assets Current assets Cash and cash equivalents 1,790,784 655,241 95,001 Restricted cash 55,670 4,050 587 Short-term deposits 8,351,945 9,018,298 1,307,530 Short-term investments 816,331 3,117 452 Accounts receivable, net 88,034 75,898 11,004 Amounts due from related parties, net 148,560 59,702 8,656 Prepayments and other current assets, net 664,945 637,225 92,389 Total current assets 11,916,269 10,453,531 1,515,619 Non-current assets Long-term deposits - 1,072,548 155,505 Deferred tax assets 20,245 - - Investments 608,617 906,215 131,389 Property and equipment, net 79,611 200,893 29,127 Intangible assets, net 83,942 57,810 8,382 Right-of-use assets, net 395,371 345,136 50,040 Prepayments and other non-current assets 150,887 110,874 16,075 Total non-current assets 1,338,673 2,693,476 390,518 Total assets 13,254,942 13,147,007 1,906,137 Liabilities and shareholders' equity Current liabilities Accounts payable 12,579 22,517 3,265 Advances from customers and deferred revenue 459,509 445,620 64,609 Income taxes payable 5,944 28,924 4,194 Accrued liabilities and other current liabilities 1,845,452 1,592,455 230,884 Amounts due to related parties 216,128 81,814 11,862 Lease liabilities due within one year 36,473 29,801 4,321 Total current liabilities 2,576,085 2,201,131 319,135 Non-current liabilities Lease liabilities 45,084 8,617 1,249 Deferred tax liabilities 4,597 20,533 2,977 Deferred revenue 118,975 73,354 10,635 Total non-current liabilities 168,656 102,504 14,861
Bayes Esports announces launch of communication services
Bayes Esports, the leading source for official esports live data, announces the launch of a central esports communication platform. Bayes ONE aims to connect the esports industry by providing transparent and affordable content creation services that are specifically designed to fit the needs of the esports industry. The esports landscape is developing at an incredible rate. New and innovative ideas, from game titles to business-to-business solutions, enter the industry on a regular basis. Some of these ideas hold the potential to leave a lasting impact and elevate the industry to a whole new level, all of which help esports to continue to develop and move forward. Yet the majority of these ideas are not able to realize their full potential, not because they were flawed to begin with, but because they were never heard. Startups and small businesses trying to establish themselves may find themselves struggling to establish connections with high-profile media and journalists. They often lack the resources required to create engaging content even if those connections existed. For those businesses, traditional PR agencies might look like possible solutions to their problems at first glance. However, too often these agencies lack the necessary expertise in esports and are not transparent about what they offer. Moreover, their pricing structures often exceed the resources available to those new to the industry. Bayes ONE aims to bring change and allow for more voices in esports, regardless of their size or niche, to be heard. It acts as a central communications platform that creates content for all types of businesses in esports and distributes it via an extensive network to ensure the messages are heard by their intended audience. Communication services are offered as packages that can be scaled and customized to fit the needs and resources of the customers. The entry-level package offers the creation and distribution of press releases and content for websites and social media platforms and can be trialed for €1.200 per Month, allowing the voices and ideas of new entrants to the esports landscape to be heard. Higher level packages designed to enable businesses to establish themselves as thought-leaders of the esports industry include speaking opportunities at conferences and the creation of in-depth articles distributed to the most relevant media platforms in esports. Bayes ONE is built on the experience and success of Bayes Esports’ communication efforts. Since Bayes Esports was founded in 2019, it has formed an extensive media network that includes over 80 different outlets spanning from community-driven to B2B platforms. Bayes ONE’s team is led by Bayes Esports Senior Director of Public Relations Prof. Dr. Susanne Ardisson. Susanne has worked for international companies as a Senior PR Consultant for more than 15 years, including companies such as Readly and Delivery Hero. Ardisson explained: “Bayes ONE is the next big step for Bayes Esports, but in particular for my team and me. During my time here at Bayes Esports, we have learned a lot about the industry. How to approach different target groups, which outlets can be used to reach them, which content formats work best for which kind of messages, which topics should be addressed and which should be avoided, and so much more. We are excited to be able to use that expertise to give smaller businesses in particular the opportunity to be heard and change the industry just as Bayes Esports did when it first started out. It is our goal to support the next success stories of esports from day one and shape the future of esports together.”
GosuGamers Appointed As The Official Media Partner Of Esports At The 32nd SEA Games
SINGAPORE, March 21, 2023 /PRNewswire/ -- The Vietnam Recreational And Electronic Sport Association (VIRESA) signed an agreement on 8 March 2023 to appoint GosuGamers as the official media partner of esports at the 2023 Southeast Asian Games (32nd SEA Games). GosuGamers has been appointed as the official media partner of esports for the 32nd Southeast Asian Games, Cambodia 2023. Following the success of the 31st SEA Games which took place in Hanoi, Vietnam last May, VIRESA has signed an agreement with GosuGamers to be once again the official media partner responsible for providing the most up-to-date information and content related to all esports titles at the 32nd SEA Games taking place from 5-17 May 2023, in Phnom Penh, Cambodia. In addition to reporting on match results, broadcast information and the latest news, GosuGamers will showcase and highlight the journey of Southeast Asian athletes through exclusive content in order to give fans a more intimate and unique experience through GosuGamers' website and social media channels. CEO of GosuGamers, Samson Oh, said: "We are honoured to be the official media partner of esports second year consecutively for the SEA Games, which allows us to provide full support for the emerging esports scene in Cambodia. We are also ecstatic to be able to contribute directly to developing Southeast Asia's esports ecosystem and will aim to continue to do so with every potential opportunity." VIRESA and the Esports Federation Cambodia (EFC) signed a comprehensive cooperation agreement for the 32nd SEA Games. To ensure the successful organisation of esports by the EFC, VIRESA will provide full support in all aspects; including but not limited to selecting competition content, issuing technical regulations, and supporting the national team selection of training coaches and referees. Secretary General of VIRESA, Do Viet Hung, said: "GosuGamers have always been a reliable partner in conveying information about esports tournaments. Therefore, I expect that GosuGamers will always be a companion in developing esports." The 32nd SEA Games' esports category will be a medal event with a total of 6 disciplines and 9 events. The list of disciplines and events is as follows: VALORANT (PC): Team Mobile Legends: Bang Bang (Mobile): Men's team and women's team PUBG Mobile (Mobile): Individual and team League of Legends: Wild Rift (Mobile): Team CrossFire (PC): Team Attack Online 2 (PC): Individual and team About GosuGamers: Established in 2002, GosuGamers is the longest-lasting esports media in the industry. Headquartered in Singapore, the brand has expanded its international footprint with dedicated regional websites in Vietnam, India, and Indonesia to capitalize on the global esports industry's 23% year-on-year growth rate. With veterans and enthusiasts, GosuGamers focuses on delivering expert-led esports and gaming content, including high-calibre tournament coverage, in-depth analysis, data, news, videos, and more. For the latest GosuGamers news and activities: Website: https://www.gosugamers.netFacebook: https://www.facebook.com/GosuGamersInstagram: https://www.instagram.com/gosugamersTikTok: https://www.tiktok.com/@gosupogTwitter: https://twitter.com/GosuGamersYouTube: https://www.youtube.com/@GosuGamersOfficialLinkedIn: https://www.linkedin.com/company/gosugamers
DouYu International Holdings Limited Reports Fourth Quarter and Full Year 2022 Unaudited Financial Results
WUHAN, China, March 20, 2023 /PRNewswire/ -- DouYu International Holdings Limited ("DouYu" or the "Company") (Nasdaq: DOYU), a leading game-centric live streaming platform in China and a pioneer in the eSports value chain, today announced its unaudited financial results for the fourth quarter and the full year ended December 31, 2022. Fourth Quarter 2022 Financial and Operational Highlights Total net revenues in the fourth quarter of 2022 were RMB1,681.1 million (US$243.7 million) compared with RMB2,327.9 million in the same period of 2021. Gross profit in the fourth quarter of 2022 was RMB186.1 million (US$27.0 million), compared with RMB244.7 million in the same period of 2021. Net income in the fourth quarter of 2022 was RMB41.8 million (US$6.1 million), compared with net loss of RMB193.2 million in the same period of 2021. Adjusted net loss in the fourth quarter of 2022 was RMB4.3 million (US$0.6 million), compared with RMB150.7 million in the same period of 2021. Average mobile MAUs in the fourth quarter of 2022 decreased by 8.0% to 57.4 million from 62.4 million in the same period of 2021. Quarterly average paying user count in the fourth quarter of 2022 was 5.6 million, compared with 7.3 million in the same period of 2021. Full Year 2022 Financial Highlights Total net revenues for the full year of 2022 were RMB7,108.2 million (US$1,030.6 million), compared with RMB9,165.3 million in the same period of 2021. Gross profit for the full year of 2022 was RMB990.1 million (US$143.6 million), compared with RMB1,089.9 million in the same period of 2021. Net loss for the full year of 2022 was RMB90.4 million (US$13.1 million), compared with RMB620.2 million in the same period of 2021. Adjusted net loss for the full year of 2021 was RMB7.6 million (US$1.1 million), compared with RMB439.3 million in the same period of 2021. Mr. Shaojie Chen, Chief Executive Officer of DouYu, commented, "Against the backdrop of a complex and volatile macro environment throughout 2022, we remained committed to our core growth strategy of fostering a vibrant game-centric content ecosystem. We concluded the year with steady business performance through a mix of operational adaptations, including revenue optimization, a selective copyright procurement strategy, and investments in self-produced content. In the fourth quarter, our mobile MAUs were 57.4 million, a slight increase over the prior quarter. Looking ahead, we will dedicate ourselves to driving growth based on our content ecosystem as we prioritize content enrichment and community-wide interactions to boost user stickiness and retention, other than emphasizing the short-term growth of our business. Building on our continuous efforts to cultivate high-quality game-centric content and engage core users, we will strive to maintain our leading position in China's live-streaming gaming industry while exploring new growth avenues, propelling DouYu's healthy and sustainable development." Mr. Hao Cao, Vice President of DouYu, commented, "In the fourth quarter of 2022, our total revenues were RMB1.68 billion. Our gross profit was RMB186.1 million, with a gross margin of 11.1%. Meanwhile, our adjusted net loss was RMB4.3 million. Throughout the year, while continuously investing in high-quality self-produced content and optimizing our revenue structure, we made good progress in reducing costs and improving efficiency by adjusting our livestreaming operations and optimizing our business spending. In 2022, our full-year gross profit improved to 13.9%, and our adjusted net loss narrowed significantly to RMB7.6 million. Moving forward, as part of our strategic focus on healthy long-term growth, our revenue may experience some immediate impact, which we believe is critical to our balanced growth. We will also fine-tune our operating model while exploring new monetization channels, striving to create long-term value for our shareholders." Fourth Quarter 2022 Financial Results Total net revenues in the fourth quarter of 2022 decreased by 27.8% to RMB1,681.1 million (US$243.7 million), compared with RMB2,327.9 million in the same period of 2021. Livestreaming revenues in the fourth quarter of 2022 decreased by 27.7% to RMB1,596.7 million (US$231.5 million) from RMB2,209.4 million in the same period of 2021. The decrease was primarily due to the continued adjustments to certain interactive features and related operations, as well as the negative impact of streamers' decreased activities following the end of Covid-19 restrictions. Advertising and other revenues in the fourth quarter of 2022 were RMB84.3 million (US$12.2 million), compared with RMB118.5 million in the same period of 2021. The decrease was primarily due to the soft demand for advertisements in the weak macro economy. The decrease was partially offset by the increase in other revenues contributed by game-specific membership services. Cost of revenues in the fourth quarter of 2022 was RMB1,495.0 million (US$216.8 million), a decrease of 28.2% compared with RMB2,083.2 million in the same period of 2021. Revenue sharing fees and content costs in the fourth quarter of 2022 decreased to RMB1,271.1 million (US$184.3 million) from RMB1,846.9 million in the same period of 2021. The decrease was primarily due to decreased revenue sharing fees in accordance with the decrease in livestreaming revenues, as well as a significant decrease in copyright costs which was attributed to a selective procurement strategy. Bandwidth costs in the fourth quarter of 2022 decreased by 17.6% to RMB138.4 million (US$20.1 million) from RMB167.9 million in the same period of 2021. The decrease was mainly due to the year-over-year reduction in peak bandwidth usage in the absence of purchased eSport tournament copyright. Gross profit in the fourth quarter of 2022 was RMB186.1 million (US$27.0 million), compared with RMB244.7 million in the same period of 2021. Gross margin in the fourth quarter of 2022 improved to 11.1% from 10.5% in the same period of 2021. The increase in gross margin was primarily due to the decreases in both revenue sharing fees and copyright costs as a percentage of total net revenues, which were partially offset by the increase in self-produced content costs as a percentage of total net revenues. Sales and marketing expenses in the fourth quarter of 2022 decreased 45.9% to RMB123.9 million (US$18.0 million) from RMB229.2 million in the same period of 2021. The decrease was mainly attributable to the significant decrease in marketing expenses for user acquisition and branding expenses. Research and development expenses in the fourth quarter of 2022 decreased 39.2% to RMB80.6 million (US$11.7 million) from RMB132.6 million in the same period of 2021. The decrease was primarily attributable to the decrease in personnel-related expenses. General and administrative expenses in the fourth quarter of 2022 decreased 44.1% to RMB55.2 million (US$8.0 million) from RMB98.8 million in the same period of 2021, mainly due to decreases in share-based compensation expenses and professional service fees. Other operating income, net in the fourth quarter of 2022 was RMB17.6 million (US$2.5 million), compared with RMB13.9 million in the same period of 2021. Loss from operations in the fourth quarter of 2022 was RMB56.0 million (US$8.1 million), compared with RMB201.9 million in the same period of 2021. Adjusted operating loss, which adds back share-based compensation expenses, was RMB56.0 million (US$8.1 million), compared with adjusted loss from operations of RMB168.7 million in the same period of 2021. Net income in the fourth quarter of 2022 was RMB41.8 million (US$6.1 million), compared with net loss of RMB193.2 million in the same period of 2021. Adjusted net loss, which excludes share-based compensation expenses, the share of (loss) income in equity method investments, and impairment loss of investments, was RMB4.3 million (US$0.6 million) in the fourth quarter of 2022, compared with adjusted net loss of RMB150.7 million in the same period of 2021. Basic and diluted net income per ADS in the fourth quarter of 2022 were both RMB0.14 (US$0.02). Adjusted basic and diluted net loss per ADS in the fourth quarter of 2022 were both RMB0.003 (US$0.0004). Full Year 2022 Financial Results Total net revenues for the full year of 2022 were RMB7,108.2 million (US$1,030.6 million), compared with RMB9,165.3 million in the same period of 2021. The decrease was primarily driven by the year-over-year decrease in livestreaming revenues and advertising and other revenues. Gross profit for the full year of 2022 was RMB990.1 million (US$143.6 million), compared with RMB1,089.9 million in the same period of 2021. Loss from operations for the full year of 2022 was RMB198.9 million (US$28.8 million), compared with RMB648.7 million in the same period of 2021. Adjusted net loss for the full year of 2022, which excludes share-based compensation expenses, the share of loss (income) in equity method investments, and impairment loss of investments, was RMB7.6 million (US$1.1 million), compared with adjusted RMB439.3 million in the same period of 2021. Basic and diluted net loss per ADS for the full year of 2022 were both RMB0.24 (US$0.03). Adjusted basic and diluted net income per ADS in the full year of 2022 were both RMB0.02 (US$0.003). Cash and cash equivalents, restricted cash and bank deposits As of December 31, 2022, the Company had cash and cash equivalents, restricted cash, and short-term and long-term bank deposits of RMB6,808.8 million (US$987.2 million), compared with RMB6,643.5 million as of December 31, 2021. Conference Call Information The Company will hold a conference call on March 20, 2023, at 7:00 am Eastern Time (or 7:00pm Beijing Time on the same day) to discuss the financial results. Listeners may access the call by dialing the following numbers: International: 1-412-317-6061 United States Toll Free: 1-888-317-6003 Mainland China Toll Free: 4001-206115 Hong Kong Toll Free: 800-963976 Singapore Toll Free: 800-120-5863 Conference ID: 7034524 The replay will be accessible through March 27, 2023, by dialing the following numbers: International: 1-412-317-0088 United States Toll Free: 1-877-344-7529 Conference ID: 4652111 A live and archived webcast of the conference call will also be available at the Company's investor relations website at http://ir.douyu.com/.  "Adjusted net loss" is calculated as net loss before share-based compensation expenses, and share of (loss) income in equity method investments and impairment loss of investments. For more information, please refer to "Use of Non-GAAP Financial Measures" and "Reconciliations of GAAP and Non-GAAP Results" at the end of this press release.  Refers to the number of mobile devices that launched our mobile apps in a given period. Average mobile MAUs for a given period is calculated by dividing (i) the sum of active mobile users for each month of such period, by (ii) the number of months in such period.  "Quarterly average paying users" refers to the average paying users for each quarter during a given period of time calculated by dividing (i) the sum of paying users for each quarter of such period, by (ii) the number of quarters in such period. "Paying user" refers to a registered user that has purchased virtual gifts on our platform at least once during the relevant period.  Every ten ADSs represent one ordinary share. About DouYu International Holdings Limited Headquartered in Wuhan, China, DouYu International Holdings Limited (Nasdaq: DOYU) is a leading game-centric live streaming platform in China and a pioneer in the eSports value chain. DouYu operates its platform on both PC and mobile apps to bring users access to immersive and interactive games and entertainment livestreaming, a wide array of video and graphic contents, as well as opportunities to participate in community events and discussions. By nurturing a sustainable technology-based talent development system and relentlessly producing high-quality content, DouYu consistently delivers premium content through integration of livestreaming, video, graphics, and virtual communities with a primary focus on games, especially on eSports. This enables DouYu to continuously expand its user base and enhance its user experience. For more information, please see http://ir.douyu.com/. Use of Non-GAAP Financial Measures Adjusted operating income (loss) is calculated as operating income (loss) adjusted for share-based compensation expenses. Adjusted net income (loss) is calculated as net income (loss) adjusted for share-based compensation expenses, share of income (loss) in equity method investments and impairment loss of investments. Adjusted net income (loss) attributable to DouYu is calculated as net income (loss) attributable to DouYu adjusted for share-based compensation expenses, share of income (loss) in equity method investments and impairment loss of investments. Adjusted basic and diluted net income per ordinary share is non-GAAP net income attributable to ordinary shareholders divided by weighted average number of ordinary shares used in the calculation of non-GAAP basic and diluted net income per ordinary share. The Company adjusted the impact of (i) share-based compensation expenses, (ii) share of income (loss) in equity method investments, (iii) impairment loss of investments to understand and evaluate the Company's core operating performance. The non-GAAP financial measures are presented to enhance investors' overall understanding of the Company's financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP. Investors are encouraged to review the reconciliation of the historical non-GAAP financial measures to its most directly comparable GAAP financial measures. As non-GAAP financial measures have material limitations as analytical metrics and may not be calculated in the same manner by all companies, they may not be comparable to other similarly titled measures used by other companies. In light of the foregoing limitations, you should not consider non- GAAP financial measures as a substitute for, or superior to, such metrics in accordance with U.S. GAAP. For more information on these non-GAAP financial measures, please see the table captioned "Reconciliations of Non-GAAP Results" near the end of this release. Exchange Rate Information This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.8972 to US$1.00, the noon buying rate in effect on December 30, 2022, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB amounts could have been, or could be, converted, realized or settled in U.S. dollars, at any other rate. Safe Harbor Statement This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward- looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's results of operations and financial condition; the Company's business strategies; general market conditions, in particular the game live streaming market; the ability of the Company to retain and grow active and paying users; changes in general economic and business conditions in China; the impact of the COVID-19 to the Company's business operations and the economy in China and globally; any adverse changes in laws, regulations, rules, policies or guidelines applicable to the Company; and assumptions underlying or related to any of the foregoing. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the Securities Exchange Commission. The announced results of the fourth quarter and full year 2022 are preliminary and unaudited. 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 In China: Lingling Kong DouYu International Holdings Limited Email: email@example.com Tel: +86 (10) 6508-0677 Andrea Guo The Piacente Group, Inc. Email: firstname.lastname@example.org Tel: +86 (10) 6508-0677 In the United States: Brandi Piacente The Piacente Group, Inc. Email: email@example.com Tel: +1-212-481-2050 Media Relations Contact Lingling Kong DouYu International Holdings Limited Email: firstname.lastname@example.org Tel: +86 (10) 6508-0677 UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (All amounts in thousands, except share, ADS, per share and per ADS data) As of December 31 As of December 31 2021 2022 2022 ASSETS RMB RMB US$ (1) Current assets: Cash and cash equivalents 4,456,406 4,041,603 585,977 Restricted cash 10,703 6,057 878 Short-term bank deposits 2,076,355 2,511,150 364,083 Accounts receivable, net 191,389 109,180 15,830 Prepayments 80,717 26,064 3,779 Amounts due from related parties 37,159 46,126 6,688 Other current assets 376,367 337,004 48,861 Total current assets 7,229,096 7,077,184 1,026,096 Property and equipment, net 25,111 16,988 2,463 Intangible assets, net 161,540 106,723 15,473 Long-term bank deposits 100,000 250,000 36,247 Investments 491,425 531,911 77,120 Goodwill 12,637 13,804 2,001 Right-of-use assets, net 72,309 49,911 7,236 Other non-current assets 64,785 98,845 14,331 Total non-current assets 927,807 1,068,182 154,871 TOTAL ASSETS 8,156,903 8,145,366 1,180,967 LIABILITIES AND SHAREHOLDERS' EQUITY LIABILITIES Current liabilities: Accounts payable 824,128 666,985 96,704 Advances from customers 7,476 6,459 936 Deferred revenue 235,134 288,152 41,778 Accrued expenses and other current liabilities 458,328 302,801 43,902 Amounts due to related parties 293,508 266,788 38,681 Lease liabilities due within one year 30,417 27,479 3,984 Total current liabilities 1,848,991 1,558,664 225,985 Lease liabilities 31,278 19,572 2,838 Deferred revenue 18,045 6,570 953 Total non-current liabilities 49,323 26,142 3,791 TOTAL LIABILITIES 1,898,314 1,584,806 229,776 (1) Translations of certain RMB amounts into U.S. dollars at a specified rate are solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.8972 to US$1.00, the noon buying rate in effect on December 30, 2022, in the H.10 statistical release of the Federal Reserve Board. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED) (All amounts in thousands, except share, ADS, per share and per ADS data) As of December 31 As of December 31 2021 2022 2022 RMB RMB US$ (1) SHAREHOLDERS' EQUITY Ordinary shares 23 23 3 Treasury shares (802,250) (911,217) (132,114) Additional paid-in capital 10,618,538 10,670,287 1,547,046 Accumulated deficit (3,445,102) (3,520,525) (510,428) Accumulated other comprehensive (loss) income (112,621) 321,991 46,684 Total DouYu Shareholders' Equity 6,258,588 6,560,559 951,191 Noncontrolling interests 1 1 - Total Shareholders' Equity 6,258,589 6,560,560 951,191 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 8,156,903 8,145,366 1,180,967 (1) Translations of certain RMB amounts into U.S. dollars at a specified rate are solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.8972 to US$1.00, the noon buying rate in effect on December 30, 2022, in the H.10 statistical release of the Federal Reserve Board.
Kepler Interactive Announces Outstanding Revenue, New Investments & Publishing Partnerships To Kick Off 2023
Kepler Interactive announced today that its first full year of operation following its 2021 launch has seen revenues exceed $50 million USD, whilst detailing a robust, strategic roadmap for 2023 and beyond with new investment and publishing partnerships. Kepler is the first global publisher co-owned and run by creators and in 2022 it saw the hugely successful launches from founding studios Ebb Software (Scorn) and Sloclap (Sifu). The multi-award nominated Sifu sold more than 1 million copies in its first three weeks and has since surpassed 2 million global sales ahead of its arrival on Xbox and Steam later this month. In addition to the strong $50m+ revenue in 2022, Kepler also saw significant cash generation, reaffirming the rationale for building a collective business model that harnesses the creativity and independence of its member studios. - Announcement of multiple new partnerships to drive further growth Building upon its exceptional performance in 2022, Kepler Interactive today announces a series of new partnerships to drive further growth in new markets and to expand its range of developer-first offerings. (1) Kepler Interactive today reveals investment in award-winning Singapore-based studio The Gentlebros, creators of the million-selling Cat Quest franchise across PC, consoles and mobile. Kepler is currently supporting on the Cat Quest back-catalogue and adding valuable expertise in the mobile gaming space. It will also partner with The Gentlebros on future releases. (2) Additionally, Kepler Interactive revealed a global publishing partnership with Montpellier-based Sandfall Interactive, a new studio focused on delivering incredible stories in gorgeous fantasy worlds. Sandfall’s debut game, an epic single-player narrative-driven adventure, is currently in development. (3) Following the successful launches of Sifu and Scorn in China, Kepler Interactive will deepen its partnership with China-based marketing and PR agency IOI Gamer, which provides valuable boots-on-the-ground support in the market for Kepler’s portfolio of current and future titles. - Launch of a new suite of services to diversify Kepler’s developer-first support offerings Kepler Interactive is building on its creativity-first approach by launching a new suite of services for a curated set of games and studios. Today, the company is unveiling a white-label publishing service offering Kepler’s in-house, best-in-class marketing and publishing talent at an industry-leading 15 percent base revenue share. The service empowers developers to remain self-published while building their own brand and community with support. White-label projects are already underway, including: (1) Eternights, set to be self-published by Studio Sai with behind-the-scenes support from the Kepler publishing team, (2) The unannounced debut game from Hadoque, the Swedish developer helmed by El Huervo, the renowned artist known for their work on the critically-acclaimed Hotline Miami series. Kepler Interactive is also today announcing a new partnership with Kowloon Nights. The revered video-game fund will now operate a new division within Kepler Interactive, funding even more exceptional developers across the world and empowering them to create games with complete creative freedom. The division's first funded project from Seattle-based Aggro Crab will start development later this year. Commenting on Kepler’s first full year of operation, CEO Alexis Garavaryan said: “We started Kepler with the ambition to offer the best environment for exceptional teams to thrive. Last year’s results have validated this aspiration beyond our wildest expectations.” “As we look forward to 2023 and beyond, our mission is to continue our growth into a leading entertainment company co-owned and run by creators. Nurturing a vibrant ecosystem around Kepler and beyond, offering total artistic independence, operational support, and cross-pollination between outstanding teams. This exceptional year set us on a trajectory where we can offer those services to a broader group of studios.” Headquartered in London, Kepler Interactive has grown to a team of over 300 across the world since its inception, becoming Great Place to Work UK - Certified™ by the global authority on workplace culture. Its slate of releases in partnership with its founding studios for 2023 includes the highly-anticipated open-world tropical adventure, Tchia, coming to PC (via the Epic Games Store), PlayStation 4 and PlayStation 5 on 21 March 2023, and the open-world action-RPG, Flintlock: The Siege of Dawn.
Explore Brand New Maps: Play YoYa: Busy Life World Now
LOS ANGELES, March 17, 2023 /PRNewswire/ -- Today, YoYa: Busy Life World has released an exciting new version. Through extensive feedback from our players, the company has remodeled the game's world view and redrawn the world map, including a brand new snowy map to give YoYa World players a fresh gaming experience. Players can now explore the newly expanded YoYa world with unlimited possibilities. The company is proud of this 3.0 update. This version has completely redrawn the world map, now divided into 9 unique sections, including bustling cities, relaxing resorts, fairytale castles and mysterious snowy worlds. The update also features improved visuals and music, providing an even more immersive experience. The company has been listening to player feedback and constantly optimizing the gaming experience. With this update, you can explore a richer, more detailed world with plenty of surprises. So, come join us and start a new adventure today. YoYa Busy Life World New Map Once upon a time, there was a little girl named Yoya who loved playing dollhouse games, Barbie and Lego. One day, her father saw her happily playing, then he decided to develop an outstanding dollhouse game for her and other children to play with. He gathered a team of excellent game developers and created a special dollhouse life world game. The game was full of creativity, beautiful graphics, and innovative gameplay, with many details added by Yoya's own imagination. It was a game where everyone could come and explore the secrets of the dollhouse. Girls and boys could customize their experience by choosing different characters, furniture, house decorations and more, exploring the world each time more new locations were added. Hearing Yoya and the other kids' laughter filled her father with happiness. He knew that the game he had created would bring endless joy to children all over the world. YoYa: Busy life world is just this game, you can build characters and create stories about the real life world. This pretend play game features realistic characters and suitable interactive functions to attract both children and parents to experience it together. Family members and babies can have an exhilarating and fun experience playing the game, ranging from character creation to exploring the world and designing houses, such as writing stories about school and hospital, then recording their own videos to post on YouTube Channels. Not only is YoYa: Busy Life World fun, but it is also highly educational. It provides a virtual playground which can help kids learn new knowledge while also exercising social skills such as communication, association, and role-playing, developing cooperative spirit and creative thinking. It also effectively helps them build correct values and learn new skills. Parents can let their children try independently and safely without worrying about them viewing unsafe content. Similar games are also very popular around the world among children, such as Toca Life World, Miga Town, My PlayHome, Dr. Panda, etc. Our original intention in making YoYa: busy Life World was to produce high-quality content that children around the world will love, and the laughter and creativity of kids are the most precious. This inspires us to keep our original intention and continuously make better products. Welcome users to give us more valuable opinions on our game, we will listen humbly and do better. If you want to know more about the latest game information, please visit our official website. If you would like to talk with our development team, you can follow our social media accounts and get in touch with us. https://email@example.com YOUTUBE: YoYA: Busy Life World TIKTOK: yoya_busylifeworld INSTAGRAM: yoya_busylifeworld YoYa: busy Life World is free download on Google Play and Apple Store. We hope to work together with all YoYa creators to make the game better and help more creators produce higher quality content.
"Captain Tsubasa: Dream Team" Debuts New Players Wearing the FC BARCELONA Official Uniform and Monthly Livestream on YouTube
TOKYO, Japan, March 17, 2023 /PRNewswire/ -- KLab Inc., a leader in online mobile games, announced that its head-to-head football simulation game Captain Tsubasa: Dream Team will hold the FC BARCELONA Official Campaign from Friday, March 17th. The campaign will feature Tsubasa Ozora, Xavii, and Payol wearing the FC BARCELONA official kit. See the original press release (https://www.klab.com/en/press/) for more information. Captain Tsubasa: Dream Team will hold the FC BARCELONA Official Campaign from Friday, March 17th. The campaign will feature Tsubasa Ozora, Xavii, and Payol wearing the FC BARCELONA official kit. In addition, Ramadan daily scenarios will be held from March 24th to April 21st. Users will have the chance to receive items by playing once per day. In addition, the campaign will include a login bonus, event missions, special event, and the Dreamball Exchange where users will have a chance to get the new kits as well. Be sure to check the in-game notifications for more information on the campaigns. Ramadan Daily Scenarios Users can play these limited scenarios once a day during the event period between March 24th to April 21st. Be sure to play for a chance to receive great in-game rewards. Monthly Livestream on YouTube Live In-game notifications and the latest information on any new players or updates will be delivered in both Japanese and English for your enjoyment. Livestream Schedule Thursday, March 30th from 21:00 JST (UTC+9) YouTube Channel: https://www.youtube.com/channel/UCTgOPO7kIQ35YzB7SBIQoWQ/ *The broadcast is expected to be in Japanese and English.*Livestream contents are subject to change without notice. Overview of Captain Tsubasa: Dream Team Supported OSes: Android™ 4.4+, iOS 11.0+, HarmonyOS 2.0+Genre: Head-to-head football simulation gamePrice: Free-to-play (In-app purchases available)Supported Regions: Global (Excludes Japan and Mainland China)Official Website: https://www.tsubasa-dreamteam.com/enOfficial Twitter Account: @tsubasaDT_enOfficial Facebook Page: https://www.facebook.com/tsubasaDTenOfficial YouTube Channel: https://www.youtube.com/channel/UCTgOPO7kIQ35YzB7SBIQoWQ/Official Discord Channel: https://discord.gg/6tyEs48Copyright: ©Yoichi Takahashi/SHUEISHA ©Yoichi Takahashi/SHUEISHA/TV TOKYO/ENOKIFILM © KLabGames Download here: App Store: https://itunes.apple.com/app/id1293738123 Google Play: https://play.google.com/store/apps/details?id=com.klab.captain283.global AppGallery: https://appgallery.huawei.com/#/app/C105375049
Fans rush to experience NSW Open Golf Championship in 3D, inside world-first web3 golf metaverse
SYDNEY, March 17, 2023 /PRNewswire/ -- Web3 golf company Play Today has launched a world-first golf metaverse that will be used to livestream the upcoming NSW Open Golf Championship inside an entire 3D virtual golf world, complete with avatars of pro players including the reigning champion, Harrison Crowe. Play Today Metaverse The "Play Today Metaverse" (accessible at PlayToday.cc) was built by golf players for golf players, and will allow fans to connect with professional players, top-tier golfing brands, and other enthusiasts from across the globe from the comfort of their own homes. Participants (who are called "Players" in the metaverse) can explore the world of golf in entirely new ways: Watch live-streaming of the NSW Open Golf Championship and other professional golf tournaments from around the world, including the exclusive Ricky Fowler golf super series, interactively controlling the broadcast to follow their player of choice and view live scores, Interact with a virtual avatar of Asia's number one amateur golfer, Harrison Crowe, as he defends his 2022 title and is fresh from claiming the 2022 Asia-Pacific Amateur Championship in Thailand with invitations to the 2023 Masters and The 151st Open at Royal Liverpool, Connect with fellow golfers from across the globe either by walking around in standalone mode, or by interacting with other Players in the Play Today clubhouse, Walk around the Metaverse and collect up to six NFT's to win prizes and unlock digital brand experiences provided by Drummond Golf, Callaway, Adidas, Bushnell, Rich River, and Golf NSW, Use augmented reality (without any additional hardware required) to view and interact with new golfing products within their own homes from leading golf brands including Drummond Golf, Adidas, and Callaway. The event is predicted to bring in over 20,000 viewers a day (or 80,000 over the course of the four day tournament). But given the unique virtual delivery of the tournament, there is unlimited capacity and all Players will always have a front-row seat for all the action, which will transform how fans interact with the sport of golf and revolutionise our enjoyment of sports events as a whole, according to Play Today. Clive Mayhew, Play Today CEO, said: "The experience of watching golf events on TV hasn't changed much over the last fifty years. It's not very exciting for the younger player, and doesn't provide any opportunities for interaction, personalisation, or any form of immersion in the world of golf - for players, fans, and golf retailers alike. "By livestreaming the NSW Golf Open Championship within our metaverse, we are creating a new and exciting way for fans from around the world to experience professional golf. And golf is just the beginning - this is just a small taste of what the future of interactive sports broadcasting will become." Harrison Crowe, reigning NSW Open Golf Championship winner, said: "It was a pretty incredible moment for me to win the NSW Open last year, especially because I won the Asia-Pacific Amateur Championship in the same year. That was definitely a career highlight. "However, I'm even more stoked to be playing in the NSW Open this year because of the exciting new metaverse format that will allow my fans to be even closer to the action and more engaged. My supporters are constant motivators, on both the good and the harder days. So I'm looking forward to defending my title and engaging with as many of my supporters as possible this year. Plus my dancing avatar is pretty spot on!" Stuart Fraser, CEO of Golf NSW, said: "The Play Today Metaverse is a visionary concept for golf. Aligning Australia's greatest State Open Championship with an interactive experience as engaging as the Play Today Metaverse will ensure fans of the sport, not just in our great state, but globally, get a taste for the future of our great game." The "Play Today NSW Open Golf Championship" will be held at the Rich River Golf Club in Moama in partnership with Golf NSW, from 16 to 19 March. It will showcase Australasia's best golfers including Blake Windred and existing NSW Open Champion, Harrison Crowe. Play Today (www.playtoday.cc), the web3 golf company, has developed a consumer digital wallet integrated into a golf scoring app, a golf NFT Marketplace, and a golf metaverse, which is a world's first use of web3 technology connecting the physical game of golf with digital wallets and an immersive online community experience.
Glass Egg - a Virtuos Studio announces expansion into Dalat, Vietnam
Glass Egg - a Virtuos Studio today announced the launch of its 2D and 3D art production studio in Dalat, Vietnam. The announcement follows Glass Egg's acquisition by Virtuos in May 2022, and marks the opening of its second studio in Vietnam. Alongside existing Sparx* and Glass Egg studios in Ho Chi Minh City, the new Dalat studio supports Virtuos' goal of becoming the largest game developer in Vietnam with 1,500 employees by the end of 2024. Glass Egg aims to grow its Dalat team to 50 with homegrown talent by the end of 2023, leveraging the city's deep local talent pool and the overall growth of the gaming industry in Vietnam. Drawing inspiration from the city's renowned landscapes and evergreen forests, Glass Egg's Dalat studio will specialize in character and environment art – complementing its HCMC studio's well-established expertise in hard surface modeling and production of 3D vehicles for AAA titles including Need for Speed™ Unbound and Forza Horizon 5. Glass Egg's Dalat studio will be managed by Nam Nguyen, Deputy CEO, and Thuy Le, Head of Production. Together, Nam and Thuy bring over two decades of experience in studio management and strategic development. Nam was also one of the founding members of Glass Egg when it was established in 1999. Nam Nguyen, Deputy CEO of Glass Egg - a Virtuos Studio said, "Dalat is a picturesque city well-known to be an incubator of Vietnamese artists, and for its thriving arts and culture ecosystem. As one of the first AAA game art studios locally, we are excited to train and provide job opportunities to homegrown talent who are looking to work on the best games with us." With over two decades of experience in game development, Glass Egg provides art production services to game publishers and developers, as well as non-game companies worldwide. Its services include 3D assets covering characters, environments, props, vehicles, and weapons, as well as 2D and 3D concept design. Thuy Le, Head of Production at Glass Egg - a Virtuos Studio said, "With the launch of Glass Egg's second studio in Vietnam, Virtuos is well-positioned to be a key contributor to both the country and Asia's growth as game development hubs. The region is rich with talent and we remain committed to training and providing them opportunities to work on the best games, and supporting our partners worldwide." The launch of Glass Egg's Dalat studio builds upon Virtuos' global expansion in the past year, including the growth of Black Shamrock in Dublin, the launches of Virtuos Labs in Montpellier, Calypte in San Francisco, and Virtuos Kuala Lumpur.
Gambling Scams: Beware the Ides of March Madness
The first round of March Madness is set to take place Thursday. This year, college hoop fans across the country will be taking advantage of legalized betting options in over 30 states, including newcomers Kansas, Maine, and Massachusetts. But, with this surge of virtual wagers, transaction dispute experts at Chargebacks911 warn of the potential for betting and gaming fraud as scammers look to take advantage of emotional gamblers throughout the collegiate tournament. Earlier this year, the American Gaming Association (AGA) reported that the sports betting market set a new revenue record in 2022 with $7.5 billion—an astounding 72.7 percent increase from 2021. As more and more states open their doors to online gambling, the issue of scammers targeting sports bettors is rising drastically. “As a consumer looking for the warning signs of fraud, sports betting can be a much trickier landscape to navigate, especially if a scammer has their system down pat,” said Chargebacks911 Founder Monica Eaton. “With popular sporting events like March Madness, many Americans who are now eligible to place bets want in on the action. But, without due diligence, they may be setting themselves up to lose big.” Many advertised betting services offer attractive discounts, introductory bonuses, and other “risk-free” deals that can seem too good to be true. Sadly, Eaton explains, these websites or apps may belong to fraudsters attempting to con bettors out of their money. Depositing funds into seemingly legitimate accounts is just the beginning of a potentially long fraudulent journey. “Once your money has been deposited into a bogus account, the scammers don’t just take the money and run. They wait to see what happens with the bet itself, to see if they can scam you further,” warned Eaton. “If you lose, you believe your money was lost to the bet, not a scam, which might mean you’ll place another wager. If you win and try to withdraw your earnings, some scammers will deny the withdrawal for ‘security reasons’ and prompt you to send a picture of your driver’s license for verification. They might ask for your bank account details so they can ‘make a deposit,’ which is another fraud tactic to get your bank information. All of these are tricks to get you to provide as much sensitive information as possible.” According to Eaton, because much of sports betting is based on emotion, gamblers may be less cautious about giving fraudsters sensitive information, especially if there is potential to receive a “big payout.” Eaton offered a few steps gamblers can take to ensure they are placing their bets with a reputable sports book. These include: Research the sportsbook before signing up. Check reviews from other customers, ratings and overall reputation. Check the sportsbook’s licensing and regulation information. This should be clearly stated on their website. Make sure the sportsbook offers secure banking options. Payment methods used by the vendor need to be reputable and secure. Read the terms and conditions. Take the time to read the terms and conditions of any sportsbook before signing up. Ask for help from a trusted third-party. Consult with a third-party, such as an online gambling advisor or industry expert, to ensure the sportsbook is legitimate. Be wary of enticing ads. Disregard pop-up ads, spam emails or SMS messages offering discounts or bonuses on bets, as this is a common tactic of scammers. Even if the message looks like it comes from a reputable sports book, this could be a fraudster who went to greater lengths to make their scam look legitimate. If you believe you’ve been scammed placing an online sports bet, contact your issuing bank right away and see what options are available to recover your money. To learn more information about Chargebacks911, visit: https://chargebacks911.com
Gamer Pakistan announces 100th and 101st MoU’s for university sports commercialization
Gamer Pakistan today announced that affiliate company Elite Sports Pakistan has signed its 100th university sports Memorandum of Understanding (MoU) with Usman Institute of Technology University Karachi and 101st MoU with Shah Abdul Latif University Khairpur Sindh. These MoU’s give Gamer Pakistan exclusive rights to conduct, broadcast and commercialize esports competitions at these respective universities. Gamer Pakistan is rapidly becoming the premiere university esports partner for secondary education institutions in Pakistan. Gamer Pakistan creates the formats and events to provide a competitive environment in which to unearth and nurture budding esports talent at the collegiate level and provide them with opportunities to represent Pakistan globally in their journey to becoming world-class professional esports athletes. According to Statista, the number of gamers in Pakistan was estimated to be 36.8 million (16% of the population) in 2022 and is predicted to rise to 50.9 million gamers (20.6% of the population) by 2026. Gamer Pakistan was founded in November 2021 to create college (in Pakistan “college” refers to pre-university programs, comparable to high schools in the U.S.), university and professional esports events for men’s and women’s teams. The company plans to develop competitive events that integrate our teams and leagues with regional and global teams and leagues sponsored by others. “We are pleased to have achieved this milestone with Usman Institute of Technology University Karachi and Shah Abdul Latif University Khairpur Sind,” said Elite Sports Pakistan CEO Muhammad Jamal Qureshi. “Their leadership in expanding the competitive sports and career advancement opportunities available for their students in all aspect of athletics is to be commended.” “Gamer Pakistan looks forward to including Usman Institute of Technology and Shah Abdul Latif University into the total collegiate Gamer Pakistan competitive esports universe,” said James Knopf, Gamer Pakistan CEO. “Their participation and the enthusiasm and skills of their student gamers gives us great confidence in the future of esports in Pakistan, and in the ability of these gamers to righty take their space on the global esports stage.” Esports is a form of competition using video games in organized, multiplayer video game tournaments. Players use mobile devices, computers, and video game consoles to compete against each other virtually or before live audiences. Gamer Pakistan is developing a strong platform built on licensed technology to enhance user experience with interactive features, and competition among players through the organization of tournaments and other events that support esports. Commercialization is accomplished through the sale of advertising and sponsorships to accompany event broadcasts and merchandising of products cobranded with our institutional partners and sponsors. To date over seven hundred teams have registered in different Gamer Pakistan competitions, whereas four hundred-plus esports teams have been registered exclusively in esports competitive games including PubG®, Call of Duty®, Free Fire®, Tekken®, FiFa®, Valorant® and CSGO®. Gamer Pakistan also plans to proffer development contracts with the top winning teams in Valorant and Call Of Duty to provide for the betterment and development of these aspiring esports athletes. Between November 2021 and November 2022, Gamer Pakistan has organized and held 27 separate esports tournaments, including the first annual University Esports National Tournament and Championship from June 30 - July 1 of 2022. In December 2022 GP held the week-long inaugural National Esports Free Fire Championship. Gamer Pakistan had already signed university sports commercialization Memorandums of Understanding (MOU) with 99 universities from the public and private education sectors, and also with the Inter-University Consortium of Pakistan for Social Sciences (IUCPSS), which has an affiliation with up to seventy universities. 2023 Gamer Pakistan esports competitions include National Valorant League, Islamabad Esports Championship, Sindh (Provincial) Intervarsity PubG Tournament, KPK FIFA Championship, Lahore Esports (LAN event) Championship, GP Pakistan Tekken Championship, Gamer Pakistan National FREE FIRE League and the Punjab (Provincial) Open Esports Championship. Elite Sports Pakistan Pvt. Ltd, (ESP) is our affiliate company and duly incorporated under the laws of Pakistan. ESP has entered into agreements with universities and sports authorities in Pakistan pursuant to which we have been granted exclusive rights with respect to licensing, producing, distributing and monetizing a range of sports events for inter-collegiate competition, including esports. ESP has been instrumental in forming Gamer Pakistan.
Tencent Games to Showcase Latest Innovations in Game Development at GDC 2023
Tencent Games, the world's leading game development, publishing, and operation platform, is pleased to announce its presence at the Game Developers Conference (GDC) 2023, from March 20 to 24. With a record number of 18 sessions and a booth exhibition, Tencent Games will showcase its latest innovations and share its experience and knowledge in mobile game development with the industry. The sessions will cover a wide range of topics, including machine learning, large-scale and cinematic rendering, next-generation mobile game development techniques, audio techniques, and efficiency tools for pipeline management. The lineup includes many of Tencent Games' exciting titles, including Honor of Kings and Return to Empire from TiMi Studio Group, START Cloud Game, upcoming title Arena Breakout from Morefun Studio and Funcom's highly anticipated Dune: Awakening, as well as a presentation on the game development tool CloudFlow Pipeline and the CROS Game Engine developed by Tencent Games Common R&D and Operation System (CROS). At the Tencent Games booth, attendees can experience the power of game technology through the Digital Great Wall cloud game, a cultural heritage conservation project, using CROS Game Engine to create a cloud-based video game of the Great Wall in China. The booth will showcase Tencent Games' latest game development tools, such as Game AIR, a platform for game AI development based on machine learning; Artigician, a series of smart tools for art production; and Anti-Cheat Expert, an anti-cheating product developed by Tencent Games CROS. Tencent Games invites all game developers and enthusiasts to visit its booth and attend its sessions at GDC 2023. Don't miss this opportunity to experience the power of game technology. Tencent Games @ GDC 2023 [Tencent Games Developer Summit] Building A Digital Great Wall with A New Game Engine Yingpeng Zhang | Technical Expert, CROS, Tencent Games Tuesday, March 21 | 9:30am - 10:00am Room 3022, West Hall Cloudflow Pipeline: A Catalyst for the Improvement of R&D Efficiency Rui Ryan Su | Senior SRE Manager, Tencent Games Tuesday, March 21 | 10:00am - 10:30am Room 3022, West Hall Arena Breakout: Creating A Next-gen FPS Game on Mobile Yiming Sun | Producer of Arena Breakout, Morefun Studio, Tencent Games Tuesday, March 21 | 10:50am - 11:20am Room 3022, West Hall TiMi Audio Lab: Sound Design for Honor of Kings Hongfei Zhao | Deputy Director, TiMi Audio Lab, Tencent Games Tuesday, March 21 | 11:20am - 11:50am Room 3022, West Hall [Conference] Machine Learning Summit: Differentiable Rendering for Scalable Asset Pipeline in 'Honor of Kings' Fei Ling | Lead Engine Programmer, TiMi Studio Group, Tencent Games Frei Zhang | Senior Engine Programmer, TiMi Studio Group, Tencent Games Tuesday, March 21 | 5:30pm - 6:30pm Room 2010, West Hall Machine Learning Summit: Advanced Heightmap Compression Using Deep Learning in 'Dune: Awakening' Calle Lejdfors | R&D Technical Director, Level Infinite, Tencent Games Clemens Rögner | Senior R&D Programmer, Level Infinite, Tencent Games Tuesday, March 21 | 1:20pm - 1:50pm Room 2010, West Hall Practical High-Performance Rendering On Mobile Platforms Xiaoxin Guo | Senior Rendering Engineer, TiMi Studio Group, Tencent Games Thursday, March 23 | 2:00pm - 2:30pm Room 2016, West Hall Thousands of Soldiers Battle on One Mobile Screen: Applications of Unity's DOTS in 'Return to Empire' Jian Xiao | Lead Client Programmer, TiMi Studio Group, Tencent Games Cangjian Hou | Lead Engine Programmer, TiMi Studio Group, Tencent Games Thursday, March 23 | 3:00pm - 3:30pm Room 2002, West Hall BroadLeaf: Real-Time Cinematic Rendering of Large-Scale Forests Yixin Hu | Senior Graphics Researcher, Pixel Lab, Tencent Games Thursday, March 23 | 4:00pm - 5:00pm Room 301, South Hall [Expo] Gameplay - Digital Great Wall Cloud Game Tech Show - Anti-Cheating Expert / Digital Content Creation (Artigician) / Game AI (Game AIR) March 22-24 Booth No.S963
Romance of the Three Kingdoms Hadou released on HUAWEI AppGallery on 7 March
KUALA LUMPUR, Malaysia, March 14, 2023 /PRNewswire/ -- Romance of the Three Kingdoms Hadou, the MMO strategy simulation game launched by KOEI TECMO GAMES CO. LTD., was released on HUAWEI AppGallery on 7 March. Huawei device users can now experience the classic MMO strategy simulation game and an enjoyable game experience on AppGallery. In conjunction with this launch, Romance of the Three Kingdoms Hadou is available on a new server (S18), where players seek to establish hegemony and strive to be the leader in the world. The basics of the game Players take on the role of monarch and build cities on the central plains indicated on the 3D map, fighting for land and treasures and striving to unite the land under their rule. Battles will be fought based on orders handed down by the players to their troops, with each player having thousands of troops under his or her command in real time. The players can send in reinforcements, carry out attacks and engage in group battles. Each player's tactics will directly affect the outcome of the game, with opportunities for intense and fierce combat. The features Each player can command their troops as they see fit, and, at any moment, choose to engage in a power struggle. The key is to strategize so that one can win the real-time battles. Players need to not only try to take over the cities, but also control the resource-producing strongholds where food resources are produced and protect the troops responsible for their transport. It's an experience of being in a chaotic world, where one competes for all the land, treasures and honors on the whole of the 3D map. When giving instructions to the troops, in addition to battle orders such as attack, players can set various goals for themselves such as recruiting more warriors into their team and collecting provisions that will be needed for a later battle. Players can update or change the orders given to the troops engaged in battle, review the situation on the battlefield and reset goals. The three kingdoms are represented by a variety of personalities and brave warriors Cao Cao, Liu Bei, Sun Quan, Lv Bu and many other warriors will fight side by side with the players. Each warrior will have different skills, abilities and attributes, so that each one becomes a soldier with certain unique advantages and a definite personality. The exclusive Japanese dubbing enables players to truly get into the atmosphere of the game series. When the first and the second in command are paired together, the first in command will gain the kind of skills and tactics support that can cause serious damage to the enemy, with the possibility or even the likelihood of dramatically changing the situation overnight. Setting up the right troop formation will be the key to victory, and is the part of the game that players have found to be the most fun. Players can join hands to form a legion that lays siege to the enemy The game's unique army "siege" system allows players to strategically collaborate with each other to engage in exciting and intense attack and defense battles. The key to victory will be to join hands to form a "legion" that then enters into battle with the player or players designated as the enemy. The game's research feature allows players to personalize their strategy The research feature allows players to adjust the tactics and the characteristics of their troops as they see fit. Collecting treasures cited on the map and conducting additional research can further enhance a player's personality. Players can adjust the strategy based on their goals. For players who are new to strategy simulation games, the game's original character Uesaka Sumire will provide needed instruction on the internal affairs and on how to train one's warriors and troops, empowering players to understand the game step by step. For the latest information about Romance of the Three Kingdoms Hadou on HUAWEI AppGallery, please visit https://discord.com/invite/hBUY5ptwVJ Download: https://appgallery.cloud.huawei.com/ag/n/app/C107508369 About AppGallery AppGallery is the official app market on Huawei smartphones, featuring curated apps across a wide range of categories including games, education, lifestyle, and fashion. In addition, AppGallery users get access to a wide range of exclusive giveaways, rebates, coupons and VIP privileges. Enjoy 5%-15% rebate when you participate in the AppGallery Rewards program. Terms and conditions apply. For more information, please visit AppGallery.