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THE KOREA INDUSTRY DAILY: 12 Leading Korean Carbon Companies Participated in JEC WORLD 2025
- Achieved Approximately $700,000 in Export Agreements and Strengthened Global Collaboration Networks – PARIS, March 13, 2025 /PRNewswire/ -- The Korea Carbon and Nano Industry Association and the World Federation of Overseas Korean Traders Associations (World-OKTA) participated in JEC World 2025, the world's largest composite materials exhibition, alongside 12 Korean carbon companies under the Korean Pavilion, aiming to expand into the global market. This initiative, supported by the Korea Carbon Industry Promotion Agency (KCARBON) and Gyeongsangbuk-do (The province of Korea), served as a crucial stepping stone for domestic carbon companies seeking to enter overseas markets. The Korea Carbon and Nano Industry Association and the World Federation of Overseas Korean Traders Associations (World-OKTA) participated in JEC World 2025, the world's largest composite materials exhibition, alongside 12 Korean carbon companies under the Korean Pavilion, aiming to expand into the global market. JEC World 2025 was held for three days from March 4 to 6, 2025, at the Nord Villepinte Exhibition Center in Paris, France. With approximately 1,350 exhibitors and 78,000 attendees, the event brought together representatives from industries, academia, research institutions, and government agencies to share insights on current technologies and future directions in composite materials. During the exhibition, the "K-Carbon Global Partners Day" was hosted within a dedicated business meeting room, facilitating B2B meetings with key buyers and institutions to explore export opportunities and strengthen international cooperation networks with global research institutes and clusters. Government officials and carbon industry experts from France, Germany, China, and other major markets attended to discuss partnerships for global market entry, joint research topics, and other collaborative initiatives. Furthermore, KCARBON held an international exchange event on March 5 to discuss "Sustainable Industrial Policies and the Future of Carbon Composite Technologies." Experts from Germany, France, and China shared insights, emphasizing the importance of global cooperation in the carbon materials industry. To reinforce international collaboration, KCARBON signed a Memorandum of Understanding (MOU) with the Saxon Textile Research Institute (STFI) in Germany. This agreement focuses on joint R&D, technology transfer, corporate collaboration projects, and expert exchange programs, further strengthening Korea's competitiveness in carbon composite materials. 12 Korean companies participated in JEC World 2025 to expand their international market presence and showcase the limitless potential of carbon materials in advanced industries. The participating companies included: Shinyoung Kukdo Chemical Dacc Carbon S-COM Tech Daeshin TechGen IPS Auto Cocarb Doctor Supply Lacomtech Nano Electronics KB Element KGF The Korean Pavilion featured advanced carbon composite technologies, including carbon fiber insulation materials, Carbon Fiber Reinforced Plastics (CFRP) for robotic suits, hydrogen storage containers, and graphene-applied products. These cutting-edge materials attracted significant attention from global industry players. 3 Korean companies successfully secured export contracts totaling approximately $700,000 through pre-arranged buyer consultations and export commercialization support. Daeshin TechGen signed a $230,000 contract for heat-dissipating composite materials and electromagnetic shielding products using synthetic graphite and carbon nanotubes (CNT). IPS Auto secured a $120,000 export deal for a vision inspection system that detects defects in printed carbon fiber products. S-COM Tech finalized a $300,000 contract for a 28-foot sailing catamaran yacht made with carbon composite materials. In addition to corporate achievements, the Korean Pavilion showcased demonstration products developed under Jeonbuk Special Self-Governing Province's regulatory-free special zone framework. Visitors also had the opportunity to learn about key government-supported projects, including: The K-Carbon Flagship Technology Development Project The Materials, Parts, and Technology Development Project These initiatives reinforced Korea's position as a global leader in carbon composite technology innovation. Through its participation in JEC World 2025, Korea successfully expanded global partnerships, secured international buyers, and demonstrated its advanced carbon composite technologies. Moving forward, KCARBON and the participating companies will continue to explore new markets, foster international collaborations, and lead technological advancements in the carbon industry.
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Mega Matrix Inc. and 9 Yards Cinema Production established JV ahead of $100M 'Short Drama Investment Fund' launch
SINGAPORE, March 13, 2025 /PRNewswire/ -- At a grand signing ceremony earlier this week, Mega Matrix Inc. (NYSE American: MPU) and 9Yards Cinema Production (9Yards) announced the signing of a joint venture (JV) that will see the establishment of a USD100 million investment fund dedicated to the production of short dramas for TV or film. Attended by key executives from both partners, Hussam Almulhem, CEO of 9Yards, was joined by MPU's CEO, Yucheng Hu, along with 9Yards' Deputy CEO, Omar Sarieddine, MPU's CFO, Carol Wang, and the VP of Operations for FlexTV, Jian Tang. With the MoU signing marking the official establishment of their strategic partnership. under this agreement the two parties will jointly establish and manage the JV, which will be based in Abu Dhabi Global Market (ADGM) – the international financial center of the UAE capital. The launch of the USD100 million short drama investment fund intends to leverage each of the partners' combined strengths, with the aim of supporting acquisitions and seizing global investment opportunities, so as to foster growth in the pan-entertainment sector, particularly in short drama production and, increasingly, projects related to the application of AI in short drama. 9Yards Cinema Productions, a subsidiary of 9Yards Communications, itself part of NG9 Holding (NG9), is a fully multimedia and cinema production company that brings together creative talent from its international network of offices. This includes a strategic and creative hub in London, UK, opened in January this year, as well as its partner network, which stretches from North America and Europe to Asia. 9Yards Communications provides a wide range of services including integrated marketing strategies, event management, public relations, digital media services, along with multimedia and cinematic production capabilities. 9Yards is a key component within NG9 – a diversified industry sector holding company with business interests in energy, real estate, alternative investments, technology and AI, aviation, maritime, and healthcare sectors. Commenting on today's signing, CEO of 9Yards, Hussam Almulhem, said: "Today's agreement allows us to clearly define the rights and obligations of both parties within the joint venture, outlining a clear framework and operational procedures to ensure the fund's smooth establishment and efficient management. "Undoubtedly, this will lay a solid foundation for deeper engagement in the short drama and pan-entertainment industries – in the MENA region and internationally." CEO of MPU, Yucheng Hu, added: "This signing marks a pivotal step in MPU's global pan-entertainment strategy, as the joint venture model mitigates risks in cross-border collaborations, ensures standardized production processes, and streamlines global distribution. "Leveraging ADGM's strategic location, MPU aims to accelerate its expansion into emerging markets across the Middle East and North Africa (MENA), further strengthening our presence on the global landscape." About 9Yards Cinema Production: 9Yards Cinema Production is a subsidiary of 9Yards Communications, a fully integrated media and marketing agency headquartered in Abu Dhabi, United Arab Emirates. Established in 2017, the agency has rapidly grown into a creative powerhouse, offering a wide array of services designed to elevate brands and foster meaningful connections with their audiences with a focus on multimedia production. For more information, please visit: https://9yardscomms.com. About Mega Matrix Inc.: Mega Matrix Inc. (NYSE American: MPU) is a holding company and operates FlexTV, a short-video streaming platform and producer of short dramas, through its subsidiary, Yuder Pte, Ltd. Mega Matrix Inc. is a Cayman Island corporation headquartered in Singapore. For more information, please contact info@megamatrix.io or visit: http://www.megamatrix.io. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements that are purely historical are forward looking statements. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose," and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees for future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate future acquisitions; ability to grow and expand our FlexTV business; ability to execute the strategic cooperation with TopReels, ability to obtain additional financing in the future to fund capital expenditures; ability to establish the investment fund with 9Yards Communications under the memorandum of understanding; fluctuations in general economic and business conditions; costs or other factors adversely affecting the Company's profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; the possibility that the Company may not succeed in developing its new lines of businesses due to, among other things, changes in the business environment, competition, changes in regulation, or other economic and policy factors; and the possibility that the Company's new lines of business may be adversely affected by other economic, business, and/or competitive factors. The forward-looking statements in this press release and the Company's future results of operations are subject to additional risks and uncertainties set forth under the "Risk Factors" in documents filed by the Company's predecessor, Mega Matrix Corp., with the Securities and Exchange Commission, including the Company's latest annual report on Form 10-K, as amended, and are based on information available to the Company on the date hereof. In addition, such risks and uncertainties include the Company's inability to predict or control bankruptcy proceedings and the uncertainties surrounding the ability to generate cash proceeds through the sale or other monetization of the Company's assets. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. Disclosure Channels We announce material information about the Company and its services and for complying with our disclosure obligation under Regulation FD via the following social media channels: (X/Twitter) x.com/MegaMatrixMPU Facebook: facebook.com/megamatrixmpu facebook.com/flextvus LinkedIn: linkedin.com/company/megamatrixmpu TikTok: tiktok.com/@flextv_english YouTube: youtube.com/@FlexTV_English The Company will also use its landing page on its corporate website (www.megamatrix.io) to host social media disclosures and/or links to/from such disclosures. The information we post through these social media channels may be deemed material. Accordingly, investors should monitor these social media channels in addition to following our website, press releases, SEC filings and public conference calls and webcasts. The social media channels that we intend to use as a means of disclosing the information described above may be updated from time to time as listed on our website.
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Weibo Announces Fourth Quarter and Fiscal Year 2024 Unaudited Financial Results and Annual Dividend
BEIJING, March 13, 2025 /PRNewswire/ -- Weibo Corporation ("Weibo" or the "Company") (Nasdaq: WB and HKEX: 9898), a leading social media in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2024 and annual dividend. "We capped off the year with solid performance in the fourth quarter of 2024," said Gaofei Wang, CEO of Weibo. "In 2024, we have proactively adjusted our user strategy to focus on the acquisition and engagement of high quality users. On the content front, we further optimized our content ecosystem through reinforcement of our core areas of strength, investment into vertical content and construction of AI-empowered content ecosystem. On the monetization front, we delivered solid performance this year, with advertising business in a stabilized trend and good momentum of value-added service. Our operating efficiency remained solid, with operating margin reaching 28% and non-GAAP operating margin reaching 33% for the full year of 2024. With our decent profitability and healthy cash flow as foundation, we are committed to enhancing shareholder return. We are pleased to announce that our board of directors has approved the adoption of annual dividend policy and an annual dividend payout of US$200 million to our shareholders for fiscal year 2024." Fourth Quarter 2024 Highlights Net revenues were US$456.8 million, a decrease of 1% year-over-year or relatively flat year-over-year on a constant currency basis [1]. Advertising and marketing revenues were US$385.9 million, a decrease of 4% year-over-year or a decrease of 3% year-over-year on a constant currency basis [1]. Value-added services ("VAS") revenues were US$71.0 million, an increase of 18% year-over-year or an increase of 18% year-over-year on a constant currency basis [1]. Income from operations was US$117.9 million, representing an operating margin of 26%. Net income attributable to Weibo's shareholders was US$8.9 million and diluted net income per share was US$0.04. Non-GAAP income from operations was US$136.2 million, representing a non-GAAP operating margin of 30%. Non-GAAP net income attributable to Weibo's shareholders was US$106.6 million and non-GAAP diluted net income per share was US$0.40. Monthly active users ("MAUs") were 590 million in December 2024. Average daily active users ("DAUs") were 260 million in December 2024. [1] We define constant currency (non-GAAP) by assuming that the average exchange rate in the fourth quarter of 2024 had been the same as it was in the fourth quarter of 2023, or RMB7.22=US$1.00. Fiscal Year 2024 Highlights Net revenues were US$1.75 billion, relatively flat year-over-year or an increase of 1% year-over-year on a constant currency basis [2]. Advertising and marketing revenues were US$1.50 billion, a decrease of 2% year-over-year or a decrease of 1% year-over-year on a constant currency basis [2]. Value-added services ("VAS") revenues were US$256.0 million, an increase of 13% year-over-year or an increase of 15% year-over-year on a constant currency basis [2]. Income from operations was US$494.3 million, representing an operating margin of 28%. Net income attributable to Weibo's shareholders was US$300.8 million and diluted net income per share was US$1.16. Non-GAAP income from operations was US$584.1 million, representing a non-GAAP operating margin of 33%. Non-GAAP net income attributable to Weibo's shareholders was US$478.6 million and non-GAAP diluted net income per share was US$1.82. [2] We define constant currency (non-GAAP) by assuming that the average exchange rate of 2024 had been the same as it was in 2023, or RMB7.08=US$1.00. Fourth Quarter 2024 Financial Results For the fourth quarter of 2024, Weibo's total net revenues were US$456.8 million, a decrease of 1% compared to US$463.7 million for the same period last year. Advertising and marketing revenues for the fourth quarter of 2024 were US$385.9 million, a decrease of 4% compared to US$403.7 million for the same period last year. The decrease was mainly due to the underperformance of online game sector, as we faced a tough year-over-year comparison due to the concentrated release of blockbuster games in the fourth quarter of 2023. Advertising and marketing revenues excluding advertising revenues from Alibaba were US$345.5 million, a decrease of 4% compared to US$358.8 million for the same period last year. VAS revenues for the fourth quarter of 2024 were US$71.0 million, an increase of 18% year-over-year compared to US$59.9 million for the same period last year, primarily driven by the growth of membership services and game-related revenues. Costs and expenses for the fourth quarter of 2024 totaled US$338.9 million, a decrease of 2% compared to US$344.7 million for the same period last year. Income from operations for the fourth quarter of 2024 was US$117.9 million, compared to US$119.0 million for the same period last year. Operating margin was 26%, same as last year. Non-GAAP income from operations was US$136.2 million, compared to US$145.9 million for the same period last year. Non-GAAP operating margin was 30%, compared to 31% last year. Non-operating loss for the fourth quarter of 2024 was US$85.1 million, compared to non-operating income of US$42.3 million for the same period last year. Non-operating loss for the fourth quarter of 2024 mainly included (i) investment related impairment of US$82.8 million, which was excluded under non-GAAP measures; (ii) loss from fair value change of investments of US$3.9 million, which was excluded under non-GAAP measures; and (iii) net interest and other income of US$1.6 million. Income tax expenses for the fourth quarter of 2024 were US$20.0 million, compared to US$72.6 million for the same period last year. The decrease was primarily due to the accrual of withholding tax related to the earnings of the company's wholly-foreign owned enterprise ("WFOE"). In 2024, the Company accrued withholding tax related to its WFOE's earnings for 2024 on a quarterly basis. In contrast, in the fourth quarter of 2023, the Company cumulatively accrued a US$43.7 million withholding tax related to its WFOE's earnings for 2023 and certain years prior to 2023. These earnings have been and are expected to be remitted to Weibo Hong Kong Limited to fund the demand for U.S. dollars in business operations, payments of dividends and debts, and potential investments, etc. Net income attributable to Weibo's shareholders for the fourth quarter of 2024 was US$8.9 million, compared to US$83.2 million for the same period last year. Diluted net income per share attributable to Weibo's shareholders for the fourth quarter of 2024 was US$0.04, compared to US$0.34 for the same period last year. Non-GAAP net income attributable to Weibo's shareholders for the fourth quarter of 2024 was US$106.6 million, compared to US$76.4 million for the same period last year. Non-GAAP diluted net income per share attributable to Weibo's shareholders for the fourth quarter of 2024 was US$0.40, compared to US$0.31 for the same period last year. As of December 31, 2024, Weibo's cash, cash equivalents and short-term investments totaled US$2.4 billion. For the fourth quarter of 2024, cash provided by operating activities was US$244.0 million, capital expenditures totaled US$17.7 million, and depreciation and amortization expenses amounted to US$14.4 million. Fiscal Year 2024 Financial Results For fiscal year 2024, Weibo's total net revenues were US$1.75 billion, relatively flat compared to US$1.76 billion in 2023. Advertising and marketing revenues for 2024 were US$1.50 billion, a decrease of 2% compared to US$1.53 billion in 2023. Advertising and marketing revenues excluding advertising revenues from Alibaba were US$1.38 billion, a decrease of 3% compared to US$1.42 billion for 2023. VAS revenues for 2024 were US$256.0 million, an increase of 13% compared to US$225.8 million for 2023. Costs and expenses for 2024 totaled US$1.26 billion, a decrease of 2% compared to US$1.29 billion for 2023. Income from operations for 2024 was US$494.3 million, compared to US$472.9 million for 2023. Operating margin for 2024 was 28%, compared to 27% last year. Non-GAAP income from operations was US$584.1 million, compared to US$592.1 million for 2023. Non-GAAP operating margin was 33%, compared to 34% last year. Non-operating loss for 2024 was US$73.7 million, compared to non-operating income of US$29.8 million for 2023. Non-operating loss in 2024 mainly included (i) investment related impairment of US$91.9 million, which was excluded under non-GAAP measures; (ii) gain from fair value change of investments of US$18.6 million, which was excluded under non-GAAP measures; and (iii) net interest and other income of US$0.9 million. Income tax expenses for 2024 were US$110.6 million, compared to US$145.3 million for 2023. In 2024, the Company accrued a US$22.1 million withholding tax related to its WFOE's earnings for 2024. In 2023, the Company cumulatively accrued a US$43.7 million withholding tax related to its WFOE's earnings for 2023 and certain years prior to 2023. Net income attributable to Weibo's shareholders for 2024 was US$300.8 million, compared to US$342.6 million for 2023. Diluted net income per share attributable to Weibo's shareholders for 2024 was US$1.16, compared to US$1.43 for 2023. Non-GAAP net income attributable to Weibo's shareholders for 2024 was US$478.6 million, compared to US$450.6 million for 2023. Non-GAAP diluted net income per share attributable to Weibo's shareholders for 2024 was US$1.82, compared to US$1.88 for 2023. For fiscal year 2024, cash provided by operating activities was US$639.9 million, compared to US$672.8 million for 2023. Capital expenditures totaled US$61.5 million, and depreciation and amortization expenses amounted to US$58.1 million. Adoption of Dividend Policy and Declaration of 2024 Dividend On March 12, 2025, the Company's board of directors (the "Board") adopted a cash dividend policy (the "Dividend Policy"), under which the Company may choose to declare and distribute a cash dividend each year in accordance with the memorandum and articles of association of the Company and applicable laws and regulations. Under the policy, the Board determines whether to make dividend distributions and the amount of such distributions in any particular year, depending on the Company's results of operations and earnings, cash flow, financial condition, capital requirements and other relevant considerations that the Board deems relevant. Accordingly, on the same day, for the fiscal year of 2024, the Board declared a cash dividend of US$0.82 per ordinary share, or US$0.82 per ADS, payable in U.S. dollars, to holders of record of ordinary shares and ADSs as of the close of business on April 9, 2025, Beijing/Hong Kong Time and New York Time, respectively, in accordance with the Dividend Policy. The aggregate amount of cash dividends to be paid will be approximately US$200 million. For holders of Class A ordinary shares, in order to qualify for the dividend, all valid documents for the transfer of shares accompanied by the relevant share certificates must be lodged for registration with the Company's Hong Kong branch share registrar, Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong, no later than 4:30 p.m. on April 9, 2025 (Beijing/Hong Kong Time). The payment date is expected to be on or around May 8, 2025 for holders of ordinary shares and on or around May 15, 2025 for holders of ADSs. Conference Call Weibo's management team will host a conference call from 7:00 AM to 8:00 AM Eastern Time on March 13, 2025 (or 7:00 PM to 8:00 PM Beijing Time on March 13, 2025) to present an overview of the Company's financial performance and business operations. Participants who wish to dial in to the teleconference must register through the below public participant link. Dial in and instruction will be in the confirmation email upon registering. Participants Registration Link: https://register.vevent.com/register/BIf3e83e2236a24ff5839823fdb84a4a1f Additionally, a live and archived webcast of this conference call will be available at http://ir.weibo.com. Non-GAAP Financial Measures This release contains the following non-GAAP financial measures: non-GAAP income from operations, non-GAAP net income attributable to Weibo's shareholders, non-GAAP diluted net income per share attributable to Weibo's shareholders and adjusted EBITDA. These non-GAAP financial measures should be considered in addition to, not as a substitute for, measures of the Company's financial performance prepared in accordance with U.S. GAAP. The Company's non-GAAP financial measures exclude stock-based compensation, amortization of intangible assets resulting from business acquisitions, net results of impairment and provision on investments, gain/loss on sale of investments and fair value change of investments, non-GAAP to GAAP reconciling items on the share of equity method investments, non-GAAP to GAAP reconciling items for the income/loss attributable to non-controlling interests, income tax expense related to the amortization of intangible assets resulting from business acquisitions and fair value change of investments (other non-GAAP to GAAP reconciling items have no tax effect), and amortization of issuance cost of convertible senior notes, unsecured senior notes and long-term loans. Adjusted EBITDA represents non-GAAP net income attributable to Weibo's shareholders before interest income/expense, net, income tax expenses/benefits, and depreciation expenses. The Company's management uses these non-GAAP financial measures in their financial and operating decision-making, because management believes these measures reflect the Company's ongoing operating performance in a manner that allows more meaningful period-to-period comparisons. The Company believes that these non-GAAP financial measures provide useful information to investors and others in the following ways: (i) in comparing the Company's current financial results with the Company's past financial results in a consistent manner, and (ii) in understanding and evaluating the Company's current operating performance and future prospects in the same manner as management does. The Company also believes that the non-GAAP financial measures provide useful information to both management and investors by excluding certain expenses, gains/losses and other items (i) that are not expected to result in future cash payments or (ii) that are non-recurring in nature or may not be indicative of the Company's core operating results and business outlook. Use of non-GAAP financial measures has limitations. The Company's non-GAAP financial measures do not include all income and expense items that affect the Company's operations. They may not be comparable to non-GAAP financial measures used by other companies. Accordingly, care should be exercised in understanding how the Company defines its non-GAAP financial measures. Reconciliations of the Company's non-GAAP financial measures to the nearest comparable GAAP measures are set forth in the section below titled "Unaudited Reconciliation of Non-GAAP to GAAP Results." About Weibo Weibo is a leading social media for people to create, share and discover content online. Weibo combines the means of public self-expression in real time with a powerful platform for social interaction, content aggregation and content distribution. Any user can create and post a feed and attach multi-media and long-form content. User relationships on Weibo may be asymmetric; any user can follow any other user and add comments to a feed while reposting. This simple, asymmetric and distributed nature of Weibo allows an original feed to become a live viral conversation stream. Weibo enables its advertising and marketing customers to promote their brands, products and services to users. Weibo offers a wide range of advertising and marketing solutions to companies of all sizes. Weibo generates a substantial majority of its revenues from the sale of advertising and marketing services, including the sale of social display advertisement and promoted marketing offerings. Weibo displays content in a simple information feed format and offers native advertisement that conform to the information feed on our platform. We are continuously refining our social interest graph recommendation engine, which enables our customers to perform people marketing and target audiences based on user demographics, social relationships, interests and behaviors, to achieve greater relevance, engagement and marketing effectiveness. 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. These forward-looking statements can be identified by terminology, such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "confidence," "estimates" and similar statements. Among other things, Weibo's expected financial performance and strategic and operational plans, as described, without limitation, in quotations from management in this press release, contain forward-looking statements. Weibo may also make written or oral forward-looking statements in the Company's periodic reports to the U.S. Securities and Exchange Commission ("SEC"), in announcements, circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange"), 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 the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, Weibo's limited operating history in certain new businesses; failure to sustain or grow active user base and the level of user engagement; the uncertain regulatory landscape in China; fluctuations in the Company's quarterly operating results; the Company's reliance on advertising and marketing sales for a majority of its revenues; failure to successfully develop, introduce, drive adoption of or monetize new features and products; failure to compete effectively for advertising and marketing spending; failure to successfully integrate acquired businesses; risks associated with the Company's investments, including equity pick-up and impairment; failure to compete successfully against new entrants and established industry competitors; changes in the macro-economic environment, including the depreciation of the Renminbi; and adverse changes in economic and political policies of the PRC government and its impact on the Chinese economy. Further information regarding these and other risks is included in Weibo's annual reports on Form 20-F and other filings with the SEC and the Hong Kong Stock Exchange. All information provided in this press release is current as of the date hereof, and Weibo assumes no obligation to update such information, except as required under applicable law. Contact:Investor RelationsWeibo CorporationPhone: +86 10 5898-3336Email: ir@staff.weibo.com WEIBO CORPORATION UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands of U.S. dollars, except per share data) Three months ended Twelve months ended December 31, September 30, December 31, December 31, December 31, 2023 2024 2024 2023 2024 Net revenues: Advertising and marketing $ 403,739 $ 398,615 $ 385,850 $ 1,534,014 $ 1,498,693 Value-added services 59,928 65,865 70,977 225,822 255,984 Net revenues 463,667 464,480 456,827 1,759,836 1,754,677 Costs and expenses: Cost of revenues (1) 100,156 92,381 100,529 374,279 369,521 Sales and marketing (1) 139,726 123,069 139,863 461,421 480,791 Product development (1) 67,243 80,411 75,921 333,628 308,747 General and administrative (1) 37,537 27,297 22,634 117,574 101,294 Total costs and expenses 344,662 323,158 338,947 1,286,902 1,260,353 Income from operations 119,005 141,322 117,880 472,934 494,324 Non-operating income (loss): Investment related income (loss), net 25,544 16,905 (86,737) 18,594 (74,557) Interest and other income, net 16,713 6,699 1,618 11,254 888 42,257 23,604 (85,119) 29,848 (73,669) Income before income tax expenses 161,262 164,926 32,761 502,782 420,655 Less: Income tax expenses 72,578 32,197 20,034 145,287 110,550 Net income 88,684 132,729 12,727 357,495 310,105 Less: Net income attributable to non-controlling interests 808 545 992 2,095 2,556 Accretion to redeemable non-controlling interests 4,646 1,617 2,870 12,802 6,748 Net income attributable to Weibo's shareholders $ 83,230 $ 130,567 $ 8,865 $ 342,598 $ 300,801
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Casual Brings Comprehensive Corporate Video Content Solutions to Shenzhen
SHENZHEN, China, March 13, 2025 /PRNewswire/ -- Casual, a leading global video production company known for award-winning content and storytelling, proudly announces the opening of its first Mainland China office, 凯视, in Shenzhen. Image of Casual's Shenzhen team standing together This milestone builds on Casual's well-established presence in Hong Kong and Singapore, enhancing its ability to create impactful video content at scale tailored to local audiences. For over 33 years, Casual/APV has specialised in developing award-winning video content for some of China's most prominent local and international brands. With capabilities across strategy, creative, production, animation, and post, Casual has built a reputation for authentic storytelling that drives measurable results and a strong return on investment. Casual has run campaigns in over twenty Asian Countries, serving over two hundred of the region's leading brands from the insurance, finance, banking, technology, food and beverage, hospitality and tourism industries, and beyond. Casual works with the likes of Ping An, Tai Ping, HSBC, Amazon, DJI, and many more. This includes supporting brands like Alibaba and ZTO Express in building their global presence and communicating to different local and international audiences at critical business junctures such as IPO and stock exchange launches. The Shenzhen office will further allow Casual to embed itself right in the heart of the Greater Bay Area and to propel the growing video first business culture of the region, while contributing to building its visual content ecosystem, through offering clients enhanced opportunities for meaningful collaboration and growth. As the City of Miracle, City of Innovation and the City of Future, Shenzhen is home to the nation's leading innovation brands including BYD, Tencent, Huawei, Oppo and DJI, all of whom provide strategic alignment to Casual's storytelling expertise. Nick Francis, Founder & CEO of Casual, commented on the expansion, "As China's leading hub of innovation, entrepreneurship and creativity, Shenzhen is a huge opportunity for us and we're excited to partner with leading companies in Guangdong and across the Greater Bay Area region; a rapidly growing business hub where the spirit of entrepreneurship and a strong pro-innovation focus is clearly evident". Executive Producer, Thomas Elliott 艾湯姆 added, "With our new presence in the Futian district, at the beating heart of Shenzhen, we are poised to continue with our strong mandate in the APAC region of helping global brands be more local and local brands be more global. We look forward to the opportunities this new office presents and to working with Shenzhen clients to deliver long-term success for their brands." As Casual expands into Mainland China, this growth reflects not just geographical expansion for the business, but the agency's ongoing commitment to helping clients become one with their audience, to deliver creative award-winning work, with a strategic focus that creates a human connection. About 凯视深圳 | Casual Shenzhen 凯视 is part of a global network, operating across APAC, EMEA, and USA. This extensive experience gives us a competitive edge in delivering meaningful, actionable insights to our clients in Shenzhen. By leveraging knowledge from various industries and markets, Casual Shenzhen combines deep local expertise with a global perspective. With multilingual producers and a nuanced understanding of cultural differences, our team creates video content that truly resonates with target audiences, no matter where they are. Casual's global portfolio spans tech, finance, automotive, travel, hospitality, and luxury verticals. The insights we gain from these diverse industries help us stay ahead, ensuring our clients in Shenzhen receive solutions tailored to their needs. Casual is committed to driving innovation and helping clients share their stories on a global stage, continuing our journey of creativity and success.
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UAE Launches BRIDGE: A Global Initiative to Transform the Media Landscape
UAE National Media Office announces a non-profit to drive innovation, sustainability, and authenticity in media WASHINGTON, March 12, 2025 /PRNewswire/ -- In a bold move to redefine the future of global media, the UAE National Media Office today unveiled BRIDGE, a groundbreaking initiative designed to create a dynamic and inclusive ecosystem that empowers media professionals, fosters innovation, and champions responsible journalism in the digital age. The initiative will be powered by a non-profit vehicle, the BRIDGE Foundation. His Excellency Abdullah bin Mohammed bin Butti Al Hamed, Chairman of theUAE National Media Office in Washington, D.C. The initiative was launched by His Excellency Abdullah bin Mohammed bin Butti Al Hamed, Chairman of the UAE National Media Office, alongside His Excellency Dr. Jamal Mohammed Obaid Al Kaabi, Director-General of the UAE National Media Office, and Richard Attias, Founder & Chairman, Richard Attias & Associates. The event brought together a powerhouse of journalists, publishers, innovators, investors, policymakers, and thought leaders from around the world, united by a common goal: to shape the future of media through collaboration, innovation, and strategic action. "Media is the pulse of a thriving society. It informs and inspires us, it shapes global perceptions and influences international dialogues, and it connects cultures from around the world," said H.E. Abdullah bin Mohammed bin Butti Al Hamed. "By convening the brightest minds from across the global media landscape, this initiative will empower the next generation of storytellers, invest in ethical AI, champion press freedoms, and ensure that authenticity and integrity remain at the core of our industry." As the media grapples with AI-driven disruptions, shifting audience behaviors, and evolving business models, BRIDGE seeks to provide a global forum for thought leadership, investment, and technological advancement. The initiative will serve as a catalyst for future-focused media strategies, equipping industry professionals with the tools, networks, and insights needed to thrive in an era of digital transformation. "This platform is built on the belief that partnerships, not silos, will define the future — particularly when it comes to media. The media is not just a witness to history; it is a force that shapes it," said Richard Attias. BRIDGE functions as a year-round platform for engagement, collaboration, and action, culminating with the world's largest and most influential gathering of media in Abu Dhabi on December 8-10, 2025. "BRIDGE is designed to tackle the most pressing challenges of our industry and deliver real-world solutions. It is not just about dialogue—it is about economic opportunity," said H.E. Dr. Jamal Mohammed Obaid Al Kaabi. "At our flagship December conference, the BRIDGE Showcase and Marketplace will be a launchpad for startups, a deal-making hub for investors, and a catalyst for business collaboration." BRIDGE will build upon the UAE's position as a leader in innovation, investment, and AI policy. Further details on the initiative's strategic partnerships, objectives, and roadmap will be revealed in Abu Dhabi this December. For more information, visit The United Arab Emirates National Media Office. Contact : Maryam bin Fahad | mfahad@nmo.gov.ae
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Mega Matrix Inc. Announced Seven New English Short Dramas on FlexTV (March 3-7): Rebirth, Suspense & Passionate Romance
SINGAPORE, March 12, 2025 /PRNewswire/ -- Mega Matrix Inc. (NYSE American: MPU)'s global leading short drama platform, FlexTV, launched seven English dramas from March 3 to 7, 2025, spanning genres such as rebirth, romance, suspense, and revenge. These diverse offerings provide global audiences with an array of viewing choices. Premiering on March 3, A Husband's Justice tells the story of Luke, who, after refusing a royal marriage decree, loses his wife to an assassination. Determined to avenge her, he raises their daughter in secrecy and ultimately rises from an ordinary man to a powerful figure, embodying the spirit of resilience in the face of injustice. On March 4, I Was Wrong About You and My Husband, Her Fiancé debuted simultaneously. The former follows Grace, who is reborn with a second chance to right her past mistakes and support her daughter-in-law Eliana through a family crisis. The latter centers on Avery, who faces a life-altering decision after discovering her husband's betrayal on their fifth anniversary. Both dramas delve into family dynamics and emotional struggles, sparking reflections on real-life relationships. March 5 saw the release of Death Train Do-Over, a gripping thriller where Evan uses his foresight abilities to survive a deadly train ordeal, keeping audiences on edge while exploring crisis management. On March 6, You're Fired, But I'm Hired brought a workplace romance to the screen, following Eliza and her childhood friend-turned-boss Sebastian as they navigate office rivalries and rekindle their past love, offering a fresh take on career growth and relationships. Closing out the lineup on March 7 were Courtroom Queen's Golden Boy and Poison Queen's Revenge. The former tells the story of Jade and Tyler, whose love defies societal expectations, while the latter follows Luna's journey of palace intrigue and vengeance for her fallen family. Both dramas explore themes of love, justice, and power from different perspectives. FlexTV, available in over 100 countries, offers multilingual options, including English, Japanese, and Korean, ensuring a top-tier viewing experience. With these seven dramas touching on themes of emotion, family, workplace dynamics, and societal issues, FlexTV continues to expand the depth and breadth of its short drama offerings. Looking ahead, the platform remains committed to content innovation and localized productions, bringing audiences an even more diverse audiovisual experience. For more captivating series, please visit https://www.flextv.cc/. About Mega Matrix Inc.: Mega Matrix Inc. (NYSE American: MPU) is a holding company and operates FlexTV, a short-video streaming platform and producer of short dramas, through its subsidiary, Yuder Pte, Ltd.. Mega Matrix Inc. is a Cayman Island corporation headquartered in Singapore. For more information, please contact info@megamatrix.io or visit: http://www.megamatrix.io. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements that are purely historical are forward looking statements. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose," and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees for future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate future acquisitions; ability to grow and expand our FlexTV business; ability to execute the strategic cooperation with TopReels, ability to obtain additional financing in the future to fund capital expenditures; ability to establish the investment fund with 9 Yards Communications under the memorandum of understanding; fluctuations in general economic and business conditions; costs or other factors adversely affecting the Company's profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; the possibility that the Company may not succeed in developing its new lines of businesses due to, among other things, changes in the business environment, competition, changes in regulation, or other economic and policy factors; and the possibility that the Company's new lines of business may be adversely affected by other economic, business, and/or competitive factors. The forward-looking statements in this press release and the Company's future results of operations are subject to additional risks and uncertainties set forth under the "Risk Factors" in documents filed by the Company's predecessor, Mega Matrix Corp., with the Securities and Exchange Commission, including the Company's latest annual report on Form 10-K, as amended, and are based on information available to the Company on the date hereof. In addition, such risks and uncertainties include the Company's inability to predict or control bankruptcy proceedings and the uncertainties surrounding the ability to generate cash proceeds through the sale or other monetization of the Company's assets. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. Disclosure Channels We announce material information about the Company and its services and for complying with our disclosure obligation under Regulation FD via the following social media channels: (X/Twitter) x.com/MegaMatrixMPU Facebook: facebook.com/megamatrixmpu facebook.com/flextvus LinkedIn: linkedin.com/company/megamatrixmpu TikTok: tiktok.com/@flextv_english YouTube: youtube.com/@FlexTV_English The Company will also use its landing page on its corporate website (www.megamatrix.io) to host social media disclosures and/or links to/from such disclosures. The information we post through these social media channels may be deemed material. Accordingly, investors should monitor these social media channels in addition to following our website, press releases, SEC filings and public conference calls and webcasts. The social media channels that we intend to use as a means of disclosing the information described above may be updated from time to time as listed on our website.
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Hello Group Inc. Announces Unaudited Financial Results for the Fourth Quarter and Fiscal Year 2024
BEIJING, March 12, 2025 /PRNewswire/ -- Hello Group Inc. (NASDAQ: MOMO) ("Hello Group" or the "Company"), a leading player in mainland China's online social networking space, today announced its unaudited financial results for the fourth quarter and the full year ended December 31, 2024. Fourth Quarter of 2024 Highlights Net revenues decreased by 12.2% year over year to RMB2,636.5 million (US$361.2 million*) in the fourth quarter of 2024. Net income attributable to Hello Group Inc. decreased to RMB187.2 million (US$25.6 million) in the fourth quarter of 2024, from RMB452.5 million in the same period of 2023. Non-GAAP net income attributable to Hello Group Inc. (note 1) decreased to RMB230.5 million (US$31.6 million) in the fourth quarter of 2024, from RMB514.7 million in the same period of 2023. Diluted net income per American Depositary Share ("ADS") was RMB1.05 (US$0.14) in the fourth quarter of 2024, compared to RMB2.32 in the same period of 2023. Non-GAAP diluted net income per ADS (note 1) was RMB1.30 (US$0.18) in the fourth quarter of 2024, compared to RMB2.63 in the same period of 2023. Monthly Active Users ("MAU") on Tantan app were 10.8 million in December 2024, compared to 13.7 million in December 2023. For the Momo app total paying users was 5.7 million for the fourth quarter of 2024, compared to 7.4 million for the same period last year. Tantan had 0.9 million paying users for the fourth quarter of 2024 compared to 1.2 million from the year ago period. Full Year 2024 Highlights Net revenues decreased by 12.0% year over year to RMB10,563.0 million (US$1,447.1 million) for the full year of 2024. Net income attributable to Hello Group Inc. was RMB1,039.6 million (US$142.4 million) for the full year of 2024, compared to RMB1,957.6 million during the same period of 2023. Non-GAAP net income attributable to Hello Group Inc. (note 1) was RMB1,232.9 million (US$168.9 million) for the full year of 2024, compared to RMB2,224.7 million during the same period of 2023. Diluted net income per ADS was RMB5.57(US$0.76) for the full year of 2024, compared to RMB9.84 during the same period of 2023. Non-GAAP diluted net income per ADS (note 1) was RMB6.60(US$0.90) for the full year of 2024, compared to RMB11.17 during the same period of 2023. "2024 was a year fraught with challenges and opportunities. Our team maneuvered through external uncertainties well and delivered satisfactory financial and operational results." commented Yan Tang, Chairman and CEO of Hello Group. "Momo cash cow business continues to be productive, with an ecosystem that is healthier in comparison to the previous year. Our overseas business maintained its robust growth momentum and made more meaningful contributions to the group's financial standing. This impels us to take bolder measures to propel growth and innovation in international markets in the future." * This press release contains translations of certain Renminbi amounts into U.S. dollars at specified rate solely for the convenience of readers. Unless otherwise noted, all translations from Renminbi to U.S. dollars, in this press release, were made at a rate of RMB7.2993 to US$1.00, the effective noon buying rate for December 31, 2024 as set forth in the H.10 statistical release of the Federal Reserve Board. Fourth Quarter of 2024 Financial Results Net revenues Total net revenues were RMB2,636.5 million (US$361.2 million) in the fourth quarter of 2024, a decrease of 12.2% from RMB3,002.9 million in the fourth quarter of 2023. Live video service revenues were RMB1,264.9 million (US$173.3 million) in the fourth quarter of 2024, a decrease of 17.0% from RMB1,523.9 million during the same period of 2023. The decrease was primarily attributable to our proactive operational adjustments to de-emphasize large scale competition events in the Momo app and a soft consumer sentiment in the current macro environment, and to a lesser degree, Tantan pivoting away from the less dating-centric live video service. Value-added service revenues mainly include virtual gift revenues and membership subscription revenues. Total value-added service revenues were RMB1,326.8 million (US$181.8 million) in the fourth quarter of 2024, a decrease of 6.9% from RMB1,424.9 million during the same period of 2023. The decrease was primarily due to our product adjustments to improve Momo app's ecosystem as well as the impact of the macro economy on consumer sentiment, and to a lesser extent, the decline in Tantan's paying users which was in turn due to the decline in user base. The decrease was partially offset by the revenue growth from the new standalone apps. Mobile marketing revenues were RMB43.6 million (US$6.0 million) in the fourth quarter of 2024, compared to RMB44.9 million during the same period of 2023. Net revenues from the Momo segment decreased from RMB2,728.7 million in the fourth quarter of 2023 to RMB2,423.1 million (US$332.0 million) in the fourth quarter of 2024, primarily due to the decrease in net revenues from live video service and value-added service on Momo app. The decrease was partially offset by the revenue growth of the new standalone apps. Net revenues from the Tantan segment decreased from RMB272.2 million in the fourth quarter of 2023 to RMB213.4 million (US$29.2 million) in the fourth quarter of 2024, mainly due to the decrease in net revenues from live video service and value-added service. Cost and expenses Cost and expenses were RMB2,407.8 million (US$329.9 million) in the fourth quarter of 2024, a decrease of 1.0% from RMB2,431.8 million in the fourth quarter of 2023. The decrease was primarily attributable to: (a) a decrease in revenue sharing with broadcasters related to live video service on Momo app and Tantan app, and a decrease in revenue sharing with virtual gift recipients of virtual gift service on Momo app. The decrease was partially offset by an increase in revenue sharing with virtual gift recipients for new standalone apps; and (b) a decrease in salary expenses and share-based compensation expenses, due to our continuous optimization in personnel costs and the newly granted share options which had lower fair value. The decrease was partially offset by an increase of RMB 94.1 million (US$12.9 million) in production costs in connection with films. Non-GAAP cost and expenses (note 1) were RMB2,364.6 million (US$323.9 million) in the fourth quarter of 2024, compared to RMB2,369.5 million during the same period of 2023. Other operating income, net Other operating income was RMB8.0 million (US$1.1 million) in the fourth quarter of 2024, compared to RMB30.8 million during the fourth quarter of 2023. The decrease was primarily due to reduced government incentives and input VAT super deduction in the fourth quarter of 2024. Income from operations Income from operations was RMB236.7 million (US$32.4 million) in the fourth quarter of 2024, compared to RMB602.0 million during the same period of 2023. Income from operations of the Momo segment was RMB226.4 million (US$31.0 million) in the fourth quarter of 2024, which decreased from RMB576.9 million in the fourth quarter of 2023. Income from operations of the Tantan segment was RMB11.1 million (US$1.5 million) in the fourth quarter of 2024, which decreased from RMB26.8 million in the fourth quarter of 2023. Non-GAAP income from operations (note 1) was RMB279.9 million (US$38.4 million) in the fourth quarter of 2024, compared to RMB664.2 million during the same period of 2023. Non-GAAP income from operations of the Momo segment was RMB269.4 million (US$36.9 million) in the fourth quarter of 2024, which decreased from RMB638.9 million in the fourth quarter of 2023. Non-GAAP income from operations of the Tantan segment was RMB11.4 million (US$1.6 million) in the fourth quarter of 2024, compared to RMB27.0 million in the fourth quarter of 2023. Income tax expenses Income tax expenses were RMB89.5 million (US$12.3 million) in the fourth quarter of 2024, compared to RMB183.4 million in the fourth quarter of 2023. The decrease in income tax expenses was primarily due to the lower profit in the third quarter of 2024, and to a lesser extent, lower withholding tax rate due to our eligibility for a preferential tax rate since the beginning of the year. Net income Net income was RMB187.2 million (US$25.6 million) in the fourth quarter of 2024, compared to RMB452.5 million during the same period of 2023. Net income from the Momo segment was RMB176.3 million (US$24.2 million) in the fourth quarter of 2024, compared to RMB430.0 million in the same period of 2023. Net income from the Tantan segment was RMB11.8 million (US$1.6 million) in the fourth quarter of 2024, compared to RMB24.2 million in the fourth quarter of 2023. Non-GAAP net income (note 1) was RMB230.5 million (US$31.6 million) in the fourth quarter of 2024, compared to RMB514.7 million during the same period of 2023. Non-GAAP net income from the Momo segment was RMB219.3 million (US$30.1 million) in the fourth quarter of 2024, which decreased from RMB492.1 million in the fourth quarter of 2023. Non-GAAP net income of the Tantan segment was RMB12.0 million (US$1.7 million) in the fourth quarter of 2024, compared to RMB24.4 million in the fourth quarter of 2023. Net income attributable to Hello Group Inc. Net income attributable to Hello Group Inc. was RMB187.2 million (US$25.6 million) in the fourth quarter of 2024, compared to RMB452.5 million during the same period of 2023. Non-GAAP net income (note 1) attributable to Hello Group Inc. was RMB230.5 million (US$31.6 million) in the fourth quarter of 2024, compared to RMB514.7 million during the same period of 2023. Net income per ADS Diluted net income per ADS was RMB1.05 (US$0.14) in the fourth quarter of 2024, compared to RMB2.32 in the fourth quarter of 2023. Non-GAAP diluted net income per ADS (note 1) was RMB1.30 (US$0.18) in the fourth quarter of 2024, compared to RMB2.63 in the fourth quarter of 2023. Cash and cash flow As of December 31, 2024, the Company's cash, cash equivalents, short-term deposits, long-term deposits, short-term restricted cash and long-term restricted cash totaled RMB14,728.5 million (US$2,017.8 million), compared to RMB13,478.5 million as of December 31, 2023. Net cash provided by operating activities in the fourth quarter of 2024 was RMB423.6 million (US$58.0 million), compared to RMB415.9 million in the fourth quarter of 2023. Full Year 2024 Financial Results Net revenues for the full year of 2024 were RMB10,563.0 million (US$1,447.1 million), a decrease of 12.0% from RMB12,002.3 million in the same period of 2023. Net income attributable to Hello Group Inc. was RMB1,039.6 million (US$142.4 million) for the full year of 2024, compared to RMB1,957.6 million during the same period of 2023. Non-GAAP net income attributable to Hello Group Inc. (note 1) was RMB1,232.9 million (US$168.9 million) for the full year of 2024, compared to RMB2,224.7 million during the same period of 2023. Diluted net income per ADS was RMB5.57 (US$0.76) during the full year of 2024, compared to RMB9.84 in the same period of 2023. Non-GAAP diluted net income per ADS (note 1) was RMB6.60 (US$0.90) during the full year of 2024, compared to RMB11.17 in the same period of 2023. Net cash provided by operating activities was RMB1,640.0 million (US$224.7 million) during the full year of 2024, compared to RMB2,277.2 million in the same period of 2023. Recent Development Declaration of a special cash dividend Hello Group's board of directors has declared a special cash dividend in the amount of US$0.30 per ADS, or US$0.15 per ordinary share. The cash dividend will be paid on April 30, 2025 to shareholders of record at the close of business on April 11, 2025. The ex-dividend date will be April 11, 2025. The aggregate amount of cash dividends to be paid is approximately US$50 million, which will be funded by available cash on the Company's balance sheet. Share repurchase program On June 7, 2022, Hello Group's board of directors authorized a share repurchase program under which the Company may repurchase up to US$200 million of its shares up to June 6, 2024 (the "Share Repurchase Program"). On March 14, 2024, Hello Group's board of directors approved to amend the Share Repurchase Program to (i) extend the term of the Share Repurchase Program up to June 30, 2026, and (ii) upsize the Share Repurchase Program to US$286.1 million. On March 12, 2025, Hello Group's board of directors approved an additional amendment to the Share Repurchase Program, to (i) extend the term of the Share Repurchase Program up to March 31, 2027, and (ii) upsize the Share Repurchase Program by another $200 million, so that the Company is authorized to, from time to time, acquire up to an aggregate of US$486.1 million worth of its shares in the form of ADSs and/or the ordinary shares of the Company in the open market and through privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. As of March 12, 2025, after the upsizing of the Share Repurchase Program, the remaining size of the program is US$222 million. As of March 12, 2025, the Company has repurchased 43.5 million ADSs for US$264.0 million on the open market under Share Repurchase Program announced on June 7, 2022 and amended on March 14, 2024, at an average purchase price of US$6.05 per ADS. Business Outlook For the first quarter of 2025, the Company expects total net revenues to be between RMB2.4 billion to RMB2.5 billion, representing a decrease of 6.3% to 2.4% year over year. This forecast reflects the Company's current and preliminary views on the market and operational conditions, which are subject to change. Note 1: Non-GAAP measures To supplement our consolidated financial statements presented in accordance with U.S. generally accepted accounting principles ("GAAP"), we, Hello Group, use various non-GAAP financial measures that are adjusted from the most comparable GAAP results to exclude share-based compensation and amortization of intangible assets from business acquisitions, and such adjustments has no impact on income tax. Reconciliations of our non-GAAP financial measures to our U.S. GAAP financial measures are shown in tables at the end of this earnings release, which provide more details about the non-GAAP financial measures. Our non-GAAP financial information is provided as additional information to help investors compare business trends among different reporting periods on a consistent basis and to enhance investors' overall understanding of the historical and current financial performance of our continuing operations and our prospects for the future. Our non-GAAP financial information should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for or superior to the GAAP results. In addition, our calculation of the non-GAAP financial measures may be different from the calculation used by other companies, and therefore comparability may be limited. Our non-GAAP information (including non-GAAP cost and operating expenses, income from operations, net income, net income attributable to Hello Group Inc., and diluted net income per ADS) is adjusted from the most comparable GAAP results to exclude share-based compensation and amortization of intangible assets from business acquisitions, and such adjustments has no impact on income tax. A limitation of using these non-GAAP financial measures is that share-based compensation and amortization of intangible assets from business acquisitions have been and will continue to be for the foreseeable future significant recurring expenses in our results of operations. We compensate for such limitation by providing reconciliations of our non-GAAP measures to our U.S. GAAP measures. Please see the reconciliation tables at the end of this earnings release. Conference Call Hello Group's management will host an earnings conference call on Wednesday, March 12, 2025, at 8:00 a.m. U.S. Eastern Time (8:00 p.m. Beijing / Hong Kong Time on March 12, 2025). Participants can register for the conference call by navigating to: https://s1.c-conf.com/diamondpass/10045617-nl4uc8.html. Upon registration, each participant will receive details for the conference call, including dial-in numbers, conference call passcode and a unique access PIN. Please dial in 10 minutes before the call is scheduled to begin. A telephone replay of the call will be available after the conclusion of the conference call through March 19, 2025. The dial-in details for the replay are as follows: U.S. / Canada: 1-855-883-1031 Hong Kong: 800-930-639Passcode: 10045617 Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of Hello Group's website at https://ir.hellogroup.com. About Hello Group Inc. We are a leading player in mainland China's online social networking space. Through Momo, Tantan and other properties within our product portfolio, we enable users to discover new relationships, expand their social connections and build meaningful interactions. Momo is a mobile application that connects people and facilitates social interactions based on location, interests and a variety of online recreational activities. Tantan, which was added into our family of applications through acquisition in May 2018, is a leading social and dating application. Tantan is designed to help its users find and establish romantic connections as well as meet interesting people. Starting from 2019, we have incubated a number of other new apps, such as Hertz, Soulchill, and Duidui, which target more niche markets and more selective demographics. For investor and media inquiries, please contact: Hello Group Inc. Investor RelationsPhone: +86-10-5731-0538Email: ir@hellogroup.com Christensen In ChinaMs. Xiaoyan SuPhone: +86-10-5900-1548E-mail: Xiaoyan.Su@christensencomms.com In U.S.Ms. Linda BergkampPhone: +1-480-614-3004Email: linda.bergkamp@christensencomms.com Safe Harbor Statement This news release contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include but are not limited to our management quotes, our financial outlook for the first quarter of 2025, as well as the amount of, timing, methods and funding sources for repurchases of our shares under the share repurchase program. Our forward-looking statements are not historical facts but instead represent only our belief regarding expected results and events, many of which, by their nature, are inherently uncertain and outside of our control. Our actual results and other circumstances may differ, possibly materially, from the anticipated results and events indicated in these forward-looking statements. Announced results for the fourth quarter of 2024 are preliminary, unaudited and subject to audit adjustment. In addition, we may not meet our financial outlook for the first quarter of 2025 and may be unable to grow our business in the manner planned. We may also modify our strategy for growth. Moreover, there are other risks and uncertainties that could cause our actual results to differ from what we currently anticipate, including those relating to our ability to retain and grow our user base, our ability to attract and retain sufficiently trained professionals to support our operations, our ability to anticipate and develop new services and enhance existing services to meet the demand of our users or customers, the market price of the Company's stock prevailing from time to time, the nature of other investment opportunities presented to the Company from time to time, the Company's cash flows from operations, general economic conditions, and other factors. For additional information on these and other important factors that could adversely affect our business, financial condition, results of operations, and prospects, please see our filings with the U.S. Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, after the date of this release, except as required by law. Such information speaks only as of the date of this release. Hello Group Inc. Unaudited Condensed Consolidated Statement of Operations (All amounts in thousands, except share and per share data) Three months Year Ended December 31 Ended December 31 2023 2024 2024 2023 2024 2024 RMB RMB US$ RMB RMB US$ Net revenues: Live video service 1,523,885 1,264,851 173,284 6,072,871 5,092,854 697,718 Value-added service 1,424,893 1,326,764 181,766 5,752,571 5,322,726 729,210 Mobile marketing 44,915 43,630 5,977 133,677 142,950 19,584 Mobile games 5,441 - - 19,610 432 59 Other services 3,798 1,251 171 23,594 4,009 550 Total net revenues 3,002,932 2,636,496 361,198 12,002,323 10,562,971 1,447,121 Cost and expenses: Cost of revenues (1,770,117) (1,724,821) (236,300) (7,025,394) (6,447,341) (883,282) Research and development (231,445) (222,684) (30,508) (884,590) (804,425) (110,206) Sales and marketing (304,696) (316,699) (43,388) (1,414,949) (1,329,780) (182,179) General and administrative (125,498) (143,621) (19,676) (502,479) (507,658) (69,549) Total cost and expenses (2,431,756) (2,407,825) (329,872) (9,827,412) (9,089,204) (1,245,216) Other operating income, net 30,821 8,015 1,098 130,105 59,003 8,083 Income from operations 601,997 236,686 32,424 2,305,016 1,532,770 209,988 Interest income 124,354 124,045 16,994 436,253 510,964 70,002 Interest expense (20,552) (36,846) (5,048) (62,223) (127,846) (17,515) Other gain or loss, net (31,250) (46,639) (6,390) (26,685) (90,509) (12,400) Income before income tax and share of (loss) income on equity method investments 674,549 277,246 37,980 2,652,361 1,825,379 250,075 Income tax expenses (183,377) (89,497) (12,261) (630,023) (845,022) (115,768) Income before share of (loss) income on equity method investments 491,172 187,749 25,719 2,022,338 980,357 134,307 Share of (loss) income on equity method investments (38,703) (514) (70) (70,643) 59,216 8,113 Net income 452,469 187,235 25,649 1,951,695 1,039,573 142,420
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Stephen Law Cheuk-kin: HK should seize opportunities of RMB internationalization
BEIJING, March 12, 2025 /PRNewswire/ -- A news report from chinadaily.com.cn： jwplayer.key="3Fznr2BGJZtpwZmA+81lm048ks6+0NjLXyDdsO2YkfE=" jwplayer('myplayer1').setup({file: 'https://mma.prnasia.com/media2/2639845/VIDEO.mp4', image: 'https://mma.prnasia.com/media2/2639845/VIDEO.mp4?p=medium', autostart:'false', stretching : 'uniform', width: '512', height: '288'}); Stephen Law Cheuk-kin, a member of the National Committee of the CPPCC, emphasized Hong Kong's role in RMB internationalization. He called for expanding RMB bonds, green finance and ETF as more countries adopt the RMB for trade. Hong Kong can strengthen its position as a hub for RMB deposit, investment, and transactions.
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Meizu Joined Hands with Geely to Hold a Product Launch Event in Sydney, Australia
SYDNEY, March 12, 2025 /PRNewswire/ -- Meizu, in collaboration with Geely Auto held a product launch event in Sydney, Australia, unveiling several smartphones tailored for overseas markets and various tech innovations including smart glasses, smart watches, smart rings, etc. At MWC 2025, Meizu's global smart technology ecosystem built based on the three core areas of smart phones, smart glasses, and smart cars became the focus of attention. At the launch conference this time, Meizu showcased its three smartphone models tailored for overseas markets and Lucky 08 in Sydney, bringing more choices to users and allowing users from different circles to enjoy the convenient experience brought by AI. Simultaneously, the Flyme Auto smart cockpit system made its official entry into the Australia and New Zealand with the launch of Geely EX5 – the next-generation SUV. Designed to achieve smart equality through cross terminals, multi-sector integration, and high value, Flyme Auto reinforces Geely's mission to make smart premium cars for all. Latest data reveals that Flyme Auto-powered vehicle sales increased by 100,361 cars in February alone, with cumulative sales of models supported by Flyme Auto surpassing 600,000 cars. Additionally, Flyme Auto has ranked first in new ecosystem user growth for five consecutive months. At present, Flyme Auto has been accessed by 22 car models of Geely, LYNK & CO, Galaxy, and other brands. It is one of the smart cockpit operating systems supporting the largest number of car models and covering the broadest price range. The smart glasses StarV Air 2 and StarV View were exhibited at the launch conference. StarV Air 2, a hot product that has recently become quite popular in China, can help users perform AI-powered instant note-taking, real-time translation, and other functions with its AI capabilities. In the scenarios of daily wear, StarV Air 2 can also be used as a teleprompter, reading screen, navigation display screen, etc. Its new interactive entrance allows users to enjoy the convenient seamless experience brought by technology. StarV View focuses on large-screen entertainment. With a 188-inch large screen that supports 0-600° myopia adjustment, it brings users an immersive entertainment experience anytime, anywhere! The smart ring StarV Ring 2 also appeared in the exhibition area of the launch conference as a new interactive product. In addition to helping users monitor sleep, blood sugar, fitness status, etc., it can also be used to control smartphones and smart glasses. As the world's first smart watch integrating DeepSeek, MEIZU Watch 22 has demonstrated great strength in voice interaction and AI large model calling, allowing users to complete a series of AI-powered smart operations such as querying data and writing content in the watch without taking out their smartphones. At the same time, as a member of the Flyme AIOS ecosystem, MEIZU Watch 22 can be quickly paired with smartphones and cars in the ecosystem and act as a "car key". Efficient collaboration between multiple devices gives full play to Meizu's ecosystem advantages and brings users a more smart and convenient experience. Since announcing the Flyme global full ecosystem strategy, Meizu has accelerated its overseas expansion. At present, Meizu's products are sold in more than 30 countries and regions such as Asia Pacific, Latin America, the Middle East, Central Asia, and Europe, and cars equipped with Flyme Auto are exported to the Middle East, Eastern Europe, Asia Pacific and other regions. Its overseas ecosystem with a true integration of people, cars, and homes has gained a certain scale. Meizu is the smartphone brand of DreamSmart Group, which carries AI eco-products in three product areas, which are smartphones, XR and smart cars. With deep technological expertise in multiple industries, DreamSmart is recognized as a leader in smart ecosystems. In the future, Meizu will accelerate its expansion into overseas markets, increase investment, and launch more products and services that meet the needs of local consumers, creating a smarter, more convenient, and better life experience for users around the world.
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The next 'China' is still China - a better China: Global Times editorial
BEIJING, March 12, 2025 /PRNewswire/ -- Recently, several mainstream international media outlets have expressed admiration for China's technological progress. For example, Bloomberg said the AI boom sparked by DeepSeek has injected "new energy" into the two sessions; CNN focused on China's upcoming establishment of a national venture capital guidance fund to "support technological innovation"; and the BBC discussed China's cultivation of tech talent by featuring stories such as an 8-year-old boy in Beijing playing chess against AI and the introduction of general AI courses in Beijing's primary and secondary schools. Nikkei Asia reported that by 2025, China's mature chip production capacity will account for about 28 percent of the global market. Increasingly, the global consensus on China's development is that the next "China" is still China - a better China. For the "explosive" technological breakthroughs, foreign media have been asking, "How did China manage to do it?" Chinese technological development is not achieved overnight. It results from long-term strategic planning and precise policies at the national level, a strong societal atmosphere that respects knowledge and champions innovation, the innovative practices of countless companies increasing their R&D investments, and the dedicated spirit of generations of professionals willing to "sit on the sidelines." The "spectacular rise" China is experiencing in the eyes of the international media is not a brief firework display but a story of bursting from the accumulated strength. As China's economic, technological, and overall national power continues to grow, this "innovation forest" will only flourish further. China's comprehensive industrial system provides a solid foundation for technological innovation, while its enormous market of more than 1.4 billion people serves both as a "stress test" for technological iteration and a "value amplifier" for innovation. The multidimensional improvement in population quality and talent pipelines, combined with strong support from national policies, capital, and infrastructure, has together forged the robust core of a "high-quality development China." For example, the swift and efficient deployment of AI applications in China relies heavily on strong investments in 5G networks, cloud computing, and big data centers. China's infrastructure is like a high-speed expressway that enables innovation to accelerate more quickly and steadily. Similarly, the achievements stemming from the innovative practices of private enterprises benefit from the positive interaction between various levels of government and businesses. As Xiaomi CEO Lei Jun said during his interview at the two sessions "deputies' passage," "I feel deeply the care and support from the Central Committee of the Communist Party of China for private enterprises, and this has greatly boosted our confidence." In the recently approved 2025 Government Work Report at the two sessions, "high quality" is a keyword that has been repeatedly emphasized. The report explicitly states that "high quality development" is the "top priority" to be focused on, and we need to place equal emphasis on winning through quality and economic scale. It sets high quality requirements in various specific fields, such as "advancing the high quality development of high standard cropland," "accelerating high quality development of key industrial chains in the manufacturing sector," and "moving faster to build a high quality education system." At the same time, high quality is also defined as the means to achieve policy goals, for example, "to encourage local governments to foster new sources of revenue in pursuing high quality development," and "to steer and generate demand through high quality supply." This year will continue to promote the "AI+" initiative, consumer electronics, and other products, demonstrating China's determination and action in "steering demand through high quality supply." From the accumulation of quantity to the advancement of quality, along with the value-driven leap in China's development logic, a China marked by "high quality" is injecting more confidence into the world. The global tech community has been amazed by DeepSeek, the Xiaomi SU7 Ultra prototype has made a dazzling debut on the Nürburgring Nordschleife, Black Myth: Wukong has opened new doors for China's AAA gaming industry on the international stage, and Ne Zha 2 continues to make waves in the global cinema market. Beyond these well-known success stories, high quality development has permeated all aspects of China's industries and daily life. In Fujian's Zhangzhou pineapple farms, precision flowering control technology has boosted yields per mu by 2,000 jin (1,000 kg). At Shougang's cold-rolled galvanized steel production line, the agile arms of the slag-scooping robot have made the risks of manual labor a thing of the past, enhancing worker safety and happiness. And when visiting the Great Wall, ordering a drone-delivered coffee has become a reality, showcasing the everyday benefits of China's booming low-altitude economy. The executive vice president of Siemens stated that the next "China" is still China, but it will be a "different" China. This "difference" refers to a "better China" that is firmly advancing on the path of high quality development. The deeper driving force behind China's high quality development lies in the organic integration of "independent innovation" and "opening-up and inclusiveness." The Chang'e-6 mission, carrying international payloads, provides a broad platform for global scientific collaboration. The China-Brazil Earth Resources Satellite helps safeguard the ecology of the Amazon rainforest. DeepSeek's open-source technology approach has accelerated the widespread adoption of AI globally, earning it the reputation of being a true "OpenAI." A "better China" is promoting the creation of a broader innovation community based on principles of inclusivity and shared benefits, offering development opportunities to the world.
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Taiwan Launches "Best AI Awards 2025" with NT$1M Grand Prize to Attract Global AI & IC Talent
TAIPEI, March 12, 2025 /PRNewswire/ -- This is a news report by DIGITIMES: 2025 Best AI Awards Taiwan is set to host the Best AI Awards 2025, an international competition designed to drive innovation in Artificial Intelligence (AI) and Integrated Circuit (IC) Design. Advised by the Ministry of Economic Affairs (MOEA), organized by the Department of Industrial Technology, MOEA, and hosted by the Taipei Computer Association (TCA), this event offers a highest grand prize of NT$1,000,000 (approx. USD 32,000). Open to students and experts worldwide, the competition will accept submissions from early March to April 8, 2025. Winners will be invited to Taipei for a physical presentation for the final round in early May 2025, with top participants receiving a special visa to work in Taiwan and access to expert training opportunities. Taiwanese participants are encouraged to collaborate with local teams, fostering greater industry connections. The Best AI Awards 2025 focuses on two core themes: AI Applications and IC Design. Participants are encouraged to submit groundbreaking proposals with strong potential for real-world industry adoption. This competition serves as a unique platform to showcase talent, connect with industry leaders, and explore career opportunities in Taiwan's thriving tech ecosystem. Full details and application guidelines can be found on the "Best AI Awards 2025" official website. Taiwan's Commitment to AI Talent & Innovation Taiwan's Minister of Economic Affairs, Kuo Jyh-huei, highlighted the nation's global leadership in chip and server manufacturing, with its AI software rankings expected to enter the world's top 14 by year-end. To secure a strong AI workforce, the government aims to cultivate 200,000 AI professionals within four years, driving innovation and industry-academia collaboration. The "2+4" talent program further supports global talent, especially students from Southeast Asia, by offering tuition subsidies, living allowances, and career training in Taiwan's high-tech industries. For AI and IC innovators, the Best AI Awards 2025 is more than a competition—it's a gateway to Taiwan's dynamic tech landscape.
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Stagwell (STGW) Accelerates APAC Growth with ADK GLOBAL Acquisition and Leadership Summit in Bangkok
BANGKOK, March 12, 2025 /PRNewswire/ -- Stagwell (NASDAQ: STGW), the challenger network built to transform marketing, hosted an Asia-Pacific (APAC) leadership summit in Bangkok building on the network's momentum of driving growth in the region and acquisition of ADK GLOBAL in early 2025. Stagwell's APAC leadership summit in Bangkok from March 5-7, 2025: a platform for bringing together the network’s regional leaders and reinforcing the network’s strategic vision The acquisition of ADK GLOBAL significantly strengthens Stagwell's APAC presence, expanding Stagwell's APAC footprint to over 2,000 team members across 14 countries, and is set to enhance Stagwell's AI-powered digital marketing capabilities. Building on this momentum, Stagwell hosted its biennial APAC leadership summit in Bangkok from March 5-7, 2025: a platform for bringing together the network's regional leaders and reinforcing the network's strategic vision. Together with Stagwell's agencies and affiliates, senior leaders from both ADK and Stagwell attended the summit, engaging in high-level discussions on integration, collaboration, and the role of APAC in global success. Stagwell also leveraged the APAC leadership summit to relaunch its Global Affiliate Program, which bolsters full-service and specialty digital solutions for clients worldwide. By engaging in strategic partnerships with regional affiliates, Stagwell builds on its commitment to delivering next-generation marketing solutions tailored to today's evolving consumer landscape. "We've spent the past year expanding Stagwell across APAC, and now have 2,500 people in the region," said Stagwell Chairman and CEO Mark Penn at the summit. "The most important thing for me in founding Stagwell was a collaborative culture where agencies work together while still maintaining their unique character. We're now right-sized to win bigger and better." About Stagwell:Stagwell is the challenger network built to transform marketing. We deliver scaled creative performance for the world's most ambitious brands, connecting culture-moving creativity with leading-edge technology to harmonize the art and science of marketing. Led by entrepreneurs, our specialists in 40+ countries are unified under a single purpose: to drive effectiveness and improve business results for their clients. Join us at www.stagwellglobal.com. Media Contact: Kara Gelberpr@stagwellglobal.com Toshiya Oyama, Representative Director, President & Group CEO of ADK Holdings and Mark Penn, Stagwell Chairman and CEO
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Abu Dhabi to introduce the world's largest drone light show, elevating cultural and technological storytelling
Khaled bin Mohamed bin Zayed witnesses signing of strategic partnership agreement between Department of Culture and Tourism – Abu Dhabi, Nova Sky Stories and Analog Multi-year partnership reinforces Abu Dhabi's leading position in immersive storytelling and entertainment innovation ABU DHABI, UAE, March 12, 2025 /PRNewswire/ -- His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has witnessed the signing of a strategic partnership agreement between the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi), Colorado-based Nova Sky Stories, and Abu Dhabi-headquartered Analog, an Emirati company, specialised in physical intelligence and mixed reality. Abu Dhabi to introduce the world's largest drone light show, elevating cultural and technological storytelling Through this multi-year partnership agreement, Abu Dhabi is set to launch a pioneering initiative that will integrate cutting-edge drone technology into large-scale immersive storytelling, further solidifying its position as a global hub for innovation in culture and entertainment. The synchronised drone performances will create artistic narratives across multiple iconic locations, weaving together the emirate's rich heritage and dynamic future. It will introduce the world's most advanced fleet of 10,000 light-show drones, a first-of-its-kind initiative in the region, blending cultural narratives with advanced drone technology to create immersive experiences. His Excellency Mohamed Khalifa Al Mubarak, Chairman of DCT Abu Dhabi, said: "By harnessing innovative technologies, we are finding new and immersive ways to share our vision and culture with the world. At the intersection of creativity and entertainment, this partnership with Nova Sky and Analog will challenge convention, raising the bar for what residents and visitors can experience. These visual spectacles reinforce Abu Dhabi's leading position in entertainment innovation, delivering experiential and memorable moments for all." Kimbal Musk, CEO and Co-Founder of Nova Sky Stories, said: "We are excited to be part of this partnership with DCT Abu Dhabi. With this pioneering initiative, Abu Dhabi is at the forefront of embracing innovation and will have the largest fleet of the most advanced light drones in the world for storytelling and entertainment. Nova empowers the world's greatest artists and musicians to bring their art to the sky and we cannot wait to show the world what is possible with a fleet this size." Alex Kipman, Founder and CEO of Analog, said: "Abu Dhabi's skyline is set to become a dynamic canvas for storytelling. We are painting holographic stories in the sky, fusing tradition with next-generation technology so audiences can feel that spark of wonder only possible when imagination meets reality. At Analog, we exist to birth new realities, and in partnership with Nova Sky Stories, DCT Abu Dhabi is reimagining what entertainment can be—one that honours Abu Dhabi's heritage and sets the bar for immersive experiences worldwide." A New Dimension of Storytelling Powered by real-time synchronisation and adaptive intelligence, these dynamic drone formations will reimagine the possibilities of live entertainment, making Abu Dhabi's skyline an evolving canvas for innovation. About the Department of Culture and Tourism – Abu Dhabi: The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) drives the sustainable growth of Abu Dhabi's culture and tourism sectors and its creative industries, fuelling economic progress and helping to achieve Abu Dhabi's wider global ambitions. By working in partnership with the organisations that define the DCT Abu Dhabi's position as a leading international destination, DCT Abu Dhabi strives to unite the ecosystem around a shared vision of the DCT Abu Dhabi's potential, coordinate effort and investment, deliver innovative solutions, and use the best tools, policies and systems to support the culture, tourism and creative industries. DCT Abu Dhabi's vision is defined by the emirate's people, heritage and landscape. We work to enhance Abu Dhabi's status as a place of authenticity, innovation, and unparalleled experiences, represented by its living traditions of hospitality, pioneering initiatives and creative thought. For more information about the Department of Culture and Tourism – Abu Dhabi and the destination, please visit: dctabudhabi.ae and visitabudhabi.ae About Nova Sky Stories Nova Sky Stories empowers the world's leading governments, musicians and artists to bring unrivaled awe to their live audiences. Nova Sky Stories has led the world in drone entertainment for over a decade with a veteran team of artists and engineers. Nova is vertically integrated, from software and hardware IP, to manufacturing our own drones, to design, and pilots. This enables us to prioritize safety with our lightweight, quiet, and precise drones that are also reliable in complex environments, including urban areas and extreme temperatures. Through the seamless fusion of technology and artistry, Nova transforms drone performances into breathtaking Sky Stories that capture hearts and minds. Certified to fly in over 40 countries across the globe, Nova Sky Stories is an international company working with the world's greatest venues, artists, and brands. For more information visit novaskystories.com and follow on Instagram and X @NovaSkyStories. About Analog Analog is a next-generation technology company specializing in edge computing, adaptive intelligence, and mixed reality, founded in 2024 and headquartered in Abu Dhabi. With strategic backing from G42, we unite technology and creativity to spark inspiration, connect communities, and empower people to reimagine reality. Our human-first ethos ensures every innovation respects and amplifies human potential, rather than overshadowing it. By crafting solutions that invite dialogue, expand perspectives, and transform ideas into tangible outcomes, Analog enables individuals, organizations, and ecosystems to explore uncharted territories. We champion a shared vision of progress—where imagination, empathy, and collaboration unlock bold new futures. Through adaptive intelligence and immersive experiences, we strive to create a future without limits. For more information visit analog.io and follow on X: Analogai_Instagram: Analogai_ LinkedIn: Analog-ai
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Snail Games Unveils Official Panel Lineup for GDC - Exclusive Reveals and In-Depth Discussions Await
CULVER CITY, Calif., March 11, 2025 /PRNewswire/ -- Snail, Inc. (Nasdaq: SNAL) ("Snail Games" or the "Company"), a leading global independent developer and publisher of interactive digital entertainment,is set to take center stage at the the 2025 Game Developers Conference (GDC) with an exciting lineup of panels featuring new trailers, behind-the-scenes insights, and technical deep dives. Join us at the Snail Games booth for exclusive announcements and firsthand access to our latest projects. GDC Snail Games Panel Schedule (All times are local/Pacific time) Wednesday March 19, 2025 | Booth S1149 10:30 AM – 11:00 AM | Ark: Survival Evolved 10 Year Celebration – First Look | Booth S1149 Be among the first to hear about how Snail Games plans to celebrate 10 years of ARK: Survival Evolved. 2:00 PM – 2:30 PM | For The Stars – Creating Living Worlds Using Game Design and Art | Booth S1149 Gain insight into how the For The Stars team is making this AAA open world universe come to life. 3:00 PM – 3:30 PM | Bellwright – Our History: From Modding to Development | Booth S1149 Donkey Crew, the development team behind Bellwright explores their journey and what's next for the game. Thursday March 20, 2025 10:30 AM – 11:15 AM | Honeycomb: The World Beyond – "Technical Challenges in Implementing lively world of Sota7" | Booth S1149 A showcase by Frozen Way, the developers of Honeycomb: The World Beyond will highlight unique game systems, created to make the world of Sota7 feel more alive. 2:00 PM – 2:45 PM | Robots at Midnight – Developer Journey; Finish Line Games | Booth S1149 Developers, Finish Line Games, will explore the journey of Canadian game development from ideation to post-production, while offering a showcase of Robots at Midnight and a first peek behind the CPU. 3:00 PM – 3:30 PM | Echoes of Elysium – Developer Journey; Loric Games| Booth S1149 This presentation will focus on Loric Games studio's journey, from its formation to the challenges they've faced along the way, and how those experiences are shaping Echoes of Elysium. Don't miss these must-see panels and the opportunity to connect with the developers shaping the future of gaming. Exclusive one-on-one interviews and never-before-seen gameplay walkthroughs are available for media upon request For media inquiries, interview requests, or additional details, please contact: press@snailgamesusa.com For creators interested in collaborative opportunities, please reach out to creatordirect@noiz.gg About Snail Games Snail Games is a leading global developer and publisher, known for delivering innovative, immersive gaming experiences across a range of genres and platforms. With a legacy of technological innovation and a focus on community engagement, Snail Games is shaping the future of interactive entertainment. Forward-Looking Statements This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as "anticipate," "believe," "could," "expect," "should," "plan," "intend," "may," "predict," "continue," "estimate" and "potential," or the negative of these terms or other similar expressions. Forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements regarding Snail's presence at the 2025 Game Developers Conference (GDC), which will include an extensive lineup of exciting updates, including new content announcements, first-look reveals, including a first look at a new game being developed in house, at GDC, new partnerships to highlight Snail's growth strategy and the notion that these panels are "must-see" and provide the opportunity to connect with the developers shaping the future of gaming. You should carefully consider the risks and uncertainties described in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, which was filed by the Company with the SEC on April 1, 2024 and other documents filed by the Company from time to time with the SEC, including the Company's Forms 10-Q filed with the SEC. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.
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The MarTech Summit Asia @ Singapore, 8 & 9 April 2025 at Marina Bay Sands
SINGAPORE, March 11, 2025 /PRNewswire/ -- The MarTech Summit Asia, our flagship event, is taking place on 8 & 9 April 2025 at Marina Bay Sands-Sands Expo & Convention Centre. As the fifth year in Singapore, featuring a fresh line-up of speakers representing diverse organisations and markets across Asia. For the ever-evolving marketing & technology world, this summit is themed Architecting MarTech: Stack Composability & Strategic Rationalisation. We will gather 500+ MarTech lovers and practitioners from all industries to learn from the thought leaders and exchange fresh & challenging ideas. The MarTech Summit Asia @Singapore, 8 & 9 April at Marina Bay Sands Tickets Secure your passes now: https://themartechsummit.com/singapore-registration In our previous edition in 2024, We were honoured to host delegates from esteemed organisations such as SMRT, Singlife, Plaza Premium Group, NTUC FairPrice Group, AIA, JTC Singapore, Logitech, 3M, SPH Media, Lendlease, Diageo, Changi Airport, Johnson and Johnson, Carrier, Coca Cola and more. This diverse group turned the summit into a dynamic hub for fostering connections and exploring the future of MarTech. Over 90% of our attendees held senior leadership roles or higher, and more than 60% represented organisations with over 1,001 employees. Why Attend?This April in Singapore, The MarTech Summit Asia provides an unparalleled event experience over 2 Days, featuring 3 Stages, filled with ample opportunities to learn and share with like-minded professionals. 2 DAY: On 8 & 9 April you can join 30+ sessions, interactive roundtable discussions & engage networking with 500+ peers 3 STAGES: On day 1, in the plenary room, we will explore key MarTech trends and How-Tos applicable to all industries. On day 2, the summit will split into B2C & B2B stages, allowing for deeper dives into each sector. The MarTech Summit Asia is filled with dynamic discussions, such as Keynote Presentations, Fireside Chats, Panel Discussions, Interactive Roundtables, and plentiful Networking opportunities! We will delve into 3 STAGES: With over 70 speakers representing industry-leading companies, including Snap, DBS Bank, JLL, IDP Education, Trip.com, Bank of Singapore, The Coca-Cola Company, Klook, DHL Express, Rakuten, Universal Pictures & MORE!Check out the Speaker Line-up here! We guarantee that 85% of attendees are senior-level MarTech leaders or higher. This assembly offers an invaluable platform for you to connect with peers across organisations and industries, exchanging experiences and ideas on the challenges you have faced or are preparing to overcome. Get tickets now! https://themartechsummit.com/singapore-registration Interested in becoming a partner? Don't hesitate to get in touch with us at sponsor@themartechsummit.com. Group rates are available upon request for 3+ attendees. Get a quote at marketing@themartechsummit.com. Stay up to date with our Speaker Line-up, Session Information, and Agenda Updates by following us on: LinkedIn Instagram YouTube Facebook X We are looking forward to meeting you in Singapore on 8 & 9 April! Check out our 2024 Highlights: https://www.youtube.com/watch?v=5tB-6O_OKq0 PR Newswire is the official Media Partner of The MarTech Summit Asia @Singapore 2025 CONTACT: Tiffany Nguyen, tnguyen@themartechsummit.com
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BIFF Recommends Programmer JUNG Hanseok as Candidate for New Festival Director
The Busan International Film Festival has recommended JUNG Hanseok, Korean Cinema Programmer, as the candidate for the new Festival Director. The final selection process will take place at the 2025 second General Meeting, scheduled for March 20 (Thu) at the Busan Cinema Center. The Executive Recommendation Committee of the Busan International Film Festival (hereinafter referred to as the Committee) conducted two rounds of open recruitment for the Festival Director, in January and March 2025. Among the candidates from the second round, the Committee recommended two individuals who demonstrated capabilities in ensuring the festival’s stable operation, presenting a future vision, managing the organization, and understanding the direction of the festival. After carefully reviewing the candidates, Chairperson PARK Kwang-su selected JUNG Hanseok, Korean Cinema Programmer of the Busan International Film Festival, as the final candidate. The Committee comprises seven members from the Board of Directors and the Executive Committee, with balanced representation across regions, fields, and genders. JUNG Hanseok, the candidate for the new Festival Director, has been actively analyzing the film industry and its works in depth since winning the Cine21 Film Criticism Award in 2002, working as a journalist and film critic at Cine21. Since 2019, he has served as the Korean Cinema Programmer of the Busan International Film Festival, spotlighting trends in Korean cinema and bridging the domestic film industry with the festival. In addition, he has expanded both domestic and international networks through various activities, including serving as a jury member for the Buil Film Awards, Jeonju International Film Festival, Seoul Independent Film Festival, and an advisor for the Florence Korea Film Festival and Hong Kong Asian Film Awards. The final selection of the BIFF Festival Director will be made at the General Meeting on March 20 (Thu).
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Xiong'an seen as a window to showcase nation's prospects
Xiong'an: Area at forefront of reform and opening-up BEIJING, March 11, 2025 /PRNewswire/ -- A report from Chinadaily.com.cn: Xiong'an seen as a window to showcase nation's prospects Xiong'an New Area in Hebei province is growing vigorously and changing with each passing day, showcasing the bright prospects of Chinese modernization and high-quality development, said a top official of the national-level economic zone. "We will create a first-class business environment that is market-driven, law-based and internationally oriented, attracting both domestic and foreign investment for its development," Zhang Guohua, a deputy to the National People's Congress and secretary of the Working Committee of Xiong'an New Area of the Communist Party of China Hebei Provincial Committee, told China Daily. The new area, established in 2017 and located about 100 kilometers southwest of downtown Beijing, was designed to relieve Beijing of functions not essential to its role as the Chinese capital. The area aims to become a high-level socialist modern city, an important part of the world-class urban agglomeration in the Beijing-Tianjin-Hebei region, a new engine of the modern economic system and a national model for promoting high-quality development. "From scratch, it has thrived, transforming from a plot of land into a blueprint, and now into a city," Zhang said. Currently, the total development area of Xiong'an spans 202 square km, with 50.3 million square meters of floor space. A total of 4,806 buildings have been constructed, and 804 km of new roads have been laid. "Its urban infrastructure, public service and commercial service functions are steadily improving," Zhang said, adding that the area has evolved into a thriving hub, with widespread enthusiasm and collaborative efforts driving its development. In terms of the new area's major role of receiving noncapital functions from Beijing, China Satellite Network Group was one of the first of the relocated enterprises and has fully moved to Xiong'an, while Sinochem Holdings and China Huaneng Group will relocate in the second half of this year. All three are central State-owned enterprises that are conglomerates in their respective fields. In addition, since 2023, 104 secondary and tertiary subsidiaries of central enterprises have settled there, and central enterprises have established more than 300 various branches. The locations of the second group of relocated projects have basically been determined, and the third group is being promoted in an orderly manner, Zhang said. While attracting business giants from various fields, Xiong'an focuses on building a hub of innovation and a hotbed of entrepreneurship in the new era, with the strategy of innovation-driven development being fully implemented. "By giving play to the leading role of the relocated central enterprises, the industrial chain of aerospace information and satellite internet has gradually taken shape," Zhang said. More than 10 innovation platforms, such as the Science and Technology Innovation Center and Zhongguancun Science Park have been established, forming an innovation system covering all links from original innovation to large-scale commercial application, he added. Meanwhile, 17 top-level academician-led projects have successively settled in Xiong'an, and 37,900 talented personnel have chosen to stay to pursue their dreams. There's another reason that business giants and talent were attracted to the area — Xiong'an is at the cutting edge of China's reform and opening-up. According to Zhang, a total of 175 reform tasks in 12 aspects have been determined, forming a series of institutional mechanisms with Xiong'an characteristics, and systematically promoting the modernization of the governance system and capacity. In addition, a total of 41 institutional innovation achievements have been made, and open platforms such as a high-tech zone, a free-trade zone, a comprehensive bonded zone and a cross-border e-commerce industrial park have been built. "Our goal is to build an innovative, charming and future-oriented city that is magnificent and desirable," Zhang said.
