關於 cookie 的說明

本網站使用瀏覽器紀錄 (Cookies) 來提供您最好的使用體驗,我們使用的 Cookie 也包括了第三方 Cookie。相關資訊請訪問我們的隱私權與 Cookie 政策。如果您選擇繼續瀏覽或關閉這個提示,便表示您已接受我們的網站使用條款。

Global Business NewsGlobal Business News

目前Global Business News文章數, 共 21223 篇 ,以下為 20953 - 20976 篇 訂閱此列表,掌握最新動態
Valid enrolls Andorra Telecom in its new Environmental Compensation Program to help offset the plastic used in SIM card manufacturing

MADRID, May 30, 2023 /PRNewswire/ -- Andorra Telecom, the exclusively provider of public telecommunications service in the Principality of Andorra, is joining Valid's new Environmental Compensation Program to ease the impact of SIM card manufacturing and potentially reduce, offset or decrease the plastic footprint of its operations. Through this program, Valid is offering Andorra Telecom a chance to fund the collection of one plastic bottle from the environment for every SIM card sold to their consumers, through Valid's collaboration with Plastic Bank. Andorra Telecom will be able to collect from the environment 800 kilograms of plastics, by selling 40,000 SIM cards. Valid's partner in this Environmental Compensation Program, Plastic Bank, is a social enterprise empowering a regenerative society, builds ethical recycling ecosystems in coastal communities and reprocess the materials for reintroduction into the global supply chain as Social Plastic® feedstock. Their collection members receive life-improving benefits in exchange for the plastic they collect, such as secure income, health and work insurance, meal vouchers, school supplies, etc. Their certified blockchain platform secures the entire transaction and provides real-time data visualization – allowing for transparency, traceability, and rapid scalability. With this goal, Plastic Bank is relying on companies like Valid and Andorra Telecom to support the collection of the plastic. The World Economic Forum estimates that 8 million metric tons of plastic waste are dumped into our oceans annually and more than 90% of plastic is never recycled. They state that, at this rate, there will be more plastic than fish in the world's oceans by 2050. While there is still a lot to be done, the mobile and smart card industry have been focusing on minimizing their impact on the environment. In addition to that, mobile operators are increasingly more selective in choosing suppliers and partners who share in their core values around sustainability and ESG. To keep on answering that demand, Valid is complementing its greener portfolio of solutions, that already includes its mioSIM Green offering, which can be produced of recycled plastics or compostable* material according to specific requirements, a plastic-free packaging for delivery, fully complied with 3GPP and ETSI standards, that together with its new environmental compensation program offer a comprehensive offsetting strategy to help companies like Andorra Telecom to reduce their plastic footprint for all card deliveries. "Andorra is a place surrounded by Nature. We live our lives around the nature and receives 8 million people throughout the year in parts because of it. For us the concerns towards the protection of our environment are tangible and to keep expanding our ESG initiative, we decided to join Valid's new environmental compensation program. Now, we have a chance to actively reduce our impacts in the environment by funding the collection and recycling of ocean-bound plastic while improving the lives of those who collect it," said Inés Martí, Responsible for corporate social responsibility from Andorra Telecom.      "The telecom industry is living through a strong digitalization process, which means that the only physical object mobile operators currently deliver to their customers is the SIM card. Valid's greener portfolio was created to better align and help our customer to reach their internal agendas in terms of environmental protection and ESG but also push the industry to deliver more conscious environmental products from beginning to end, up to an environmental compensation program to help them reduce their plastic footprint," said Alfonso Crespo, Vice President of Operations at Valid. *Product degradation per ASTM D3826 and ASTM D 5208-1 after 18 months under aerobe landfill conditions with average temperature of 20° C, and UV and oxygen availability. About Andorra Telecom Andorra Telecom is the carrier that offers comprehensive communication and entertainment services related to telecommunications in Andorra: telephony, television and internet. The company provides a wide range of products and services for private customers and value-added and public-interest products and services for the country's companies and institutions. To learn more about, visit www.andorratelecom.com. About Valid Valid (B³: VLID3 - ON) Valid makes our digital lives more secure with solutions that ensure identification in documents, smartphones, smart cards, digital certificates, banking apps, means of transport, and everywhere else our data are housed. We take into account the particularities of each culture and region we work on to create personalized and integrated solutions, enabling the secure identification of objects, transactions, and people. Valid is the fifth-largest producer of SIM Cards in the world, and it is among the world's ten largest manufacturers of banking cards. To learn more, visit www.valid.com. About Plastic Bank Plastic Bank empowers Ocean Stewards to stop ocean plastic. Our ethical collection communities exchange plastic for life-improving benefits. Exchanges are recorded through a blockchain-secured platform that enables traceable collection, secures income, and verifies reporting. Our collected materials are processed into Social Plastic feedstock for reuse in products and packaging. PlasticBank® and Social Plastic® are trademarks of The Plastic Bank Recycling Corporation. Learn more at plasticbank.com  

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 2022 加入收藏 :
First Impressions Made 90% Better: Singapore's First AI-Powered Personality Profiler MindReader Bridges Communication Gaps Between Humans

MindReader is Singapore's first Artificial Intelligence (AI)-run psychometric profiling platform that removes human biases and evaluates human profiles with up to 90% accuracy, based on a learned Human Intelligence System The platform uses text and facial image input to generate valuable insights for client-facing business professionals to bridge gaps in communication, and improve conversion rates in sales-driven roles SINGAPORE, May 30, 2023 /PRNewswire/ -- Singapore's first AI-run psychometric profiling platform, MindReader is revolutionising business communication across sales and human resources industries. Adapted from The Keirsey Temperament Sorter, the platform uses portrait images and social media texts to analyse individuals and profile them based on a machine-learned Human Intelligence System, with up to 90% accuracy while eliminating human biases. (Above: MindReader Profile Reading) Incorporating the founder's years of sales training experience with top insurance companies and banks in Singapore, MindReader aims to equip individuals with people-reading skills in a professional context to help resolve communication barriers and build trust between companies and stakeholders. As Ethan Lin, Founder of MindReader shares: "Understanding the personality of the person you are interacting with goes beyond just categorising them in a certain personality type. You are making room to empathetically explore the possibilities of their reactions, which is crucial when it comes to client or customer facing roles, where first impressions make a difference." Leveraging advanced technologies such as text analysis and facial recognition features, MindReader analyses an individual's communication style and facial expressions instantaneously. The AI has been trained using over 20,000 text and image data points to qualify different personality types based on David Keirsey's model of typology that divides personality into four broad categories – the Artisan, the Guardian, the Idealist, and the Rational. The cutting-edge technology was developed to support individuals in various fields, including sales and hiring. Boasting an impressive 70% accuracy rate in identifying personality types through facial analysis and 90% through texts, MindReader is a valuable resource for professionals seeking insights into the people they interact with. "Being AI driven, the platform reduces the possibilities of human biases when profiling people. It can be particularly useful for individuals to tailor their communication approaches, in the context of optimising sales tactics or improving the objectiveness of hiring decisions," adds Ethan, talking about the different ways MindReader can be used. Beyond sales, MindReader looks to avail its technology across other sectors and disciplines, exploring possible ways to optimise dating application matches, or improving team dynamics in organisations. To date, MindReader has effectively provided sales training to clients across various sectors, including renowned brands such as AIA, Prudential, Ministry of Manpower, CitiBank, and DBS, amongst others, utilising proven methodologies. For more information or to try out the platform, please visit https://www.themindreader.ai/. For reference materials, please see HERE. About MindReader MindReader is adapted from a proven psychological profiling system by David Keirsey. The business has a cumulation of work done over 8 years to adapt the system for practical use in sales. From this, sales conversation has been proven to improve anywhere between 15-50%. The AI-based personality analysis tool is well-received among top companies like DBS, Citibank, AIA, SEAA and amongst entrepreneurs.

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 1843 加入收藏 :
PAOB Introduces "Business Revolving Loan" as the Expanded Collaboration with eftPay

Enabling Retail SMEs to Seize Market Recovery Opportunities with Flexible Funding HONG KONG SAR - Media OutReach - 30 May 2023 - Ping An OneConnect Bank (Hong Kong) Limited ("Ping An OneConnect Bank" or "PAOB"), the first virtual bank in Hong Kong dedicated to SMEs, announced an expanded collaboration with eftPay (Asia) Limited ("eftPay"), Hong Kong's leading electronic payment service provider. Leverage their competitive advantages, PAOB is launching a new SME loan service - "Business Revolving Loan" for eftPay's SME customers to navigate through opportunities from economic recovery in a timely manner. The maximum credit amount of "Business Revolving Loan" is HK$300,000 with a repayment period ranging from one to three months. SMEs can have numerous withdrawals within the approved credit limit in a year, allowing them to allocate their funds anytime and anywhere. As the first virtual bank in Hong Kong to utilise alternative data as the basis for credit assessment, PAOB assists eftPay merchants to submit loan application and conducts credit analysis with commercial data through its unique risk assessment platform, and such streamlines the loan approval process without the need of submitting any application documents[1] and collaterals. This loan service brings SMEs a much more convenient and efficient virtual banking experience. Since reopening the border and lifting most of the anti-pandemic measures earlier this year, Hong Kong's retail and tourism sectors are gradually recovering. For the first quarter of 2023, statistics show that the total value of retail sales in Hong Kong increased by 24.1%[2] and the total number of visitors to Hong Kong exceeded four million[3] comparing with the same period last year. The retail sector has been buoyed by the government's recovery measures, the distribution of consumer vouchers to the public and the promotion of conferences, exhibitions, and tourism. Mr. Michael Fei, Chief Executive and Executive Director of PAOB, said, "As the first virtual bank in Hong Kong specialising in banking services to SMEs, PAOB has been expanding into different scenarios and virtual banking services in line with our commitment to financial inclusion. From 'Trade-Connect Loan' for the trade SMEs since our inaugural launch, the 'Business Instalment Loan' for start-ups and other SMEs, to our earlier 'Business Short-term Loan' for SMEs in the engineering and construction industry, we have solid understanding of the financing needs and challenges of SMEs across different industries and become their 'best partner' to tackle opportunities and challenges together. With the resumption of cross-border travelling with the international markets and Mainland China, number of business and travel visitors to Hong Kong has multiplied, and with that comes the recovery of retail spending power. We are confident that the local retail sector is reviving again. In view of this, we are deepening our partnership with eftPay by launching 'Business Revolving Loan' for retail SMEs. By leveraging our profound experience in SME virtual banking services and competitive edges in fintech and utilising the potentials of eftPay's commercial data, this new loan service will swiftly and effectively provide cash flow to the retail SMEs which enable them to seize opportunities from the recovering economy." Mr. Andrew Lo, Chairman and Chief Executive Officer of eftPay (Asia) Limited, said, "eftPay is committed to providing a full suite of e-payment services to merchants, helping them solve their operational pain points. In recognition of the cash flow issues that is often beset retail businesses, such as stocking and expansion costs, we have partnered with PAOB to provide a convenient and expedited financing solution that helps SMEs alleviate their immediate cash flow challenges. With the border reopened and the resurgence of local economic activities, PAOB's "Business Revolving Loan" is poised to enable the merchants with flexibility to allocate their capital more effectively, seize market opportunities and expand their businesses." PAOB and eftPay are fully committed to supporting the business needs of retail merchants. From now until 30 June 2023 ("Promotion Period"), the handling fee will be waived for eligible SME customers who successfully apply and draw down the "Business Revolving Loan". For more information, please refer to the PAOB website at www.paob.com.hk or call the PAOB Customer Service Hotline at 3762 9900. To borrow or not to borrow? Borrow only if you can repay! Terms & Conditions apply. [1] Customers are only required to provide their Hong Kong Identity Card for verification and to submit an application form during loan approval. Customers are required to submit required documents and to sign the loan documents before the loan drawdown. [2] Provisional statistics of retail sales for March 2023 from The Census and Statistics Department. [3] Preliminary Visitor Figures for March 2023 from Hong Kong Tourism Board. Hashtag: #eftPayThe issuer is solely responsible for the content of this announcement.eft Payments (Asia) LimitedEstablished in 2013, eftPay is one of the leading e-Payment services providers in Hong Kong, providing merchants with comprehensive e-Payment services, including account opening, point of sale system and integration of payment system, transaction processing and payment settlement services. Currently, eftPay serves not less than 22,600 stores in Hong Kong, including well-known local jewelry chains, electrical appliances stores, makeup and beauty stores, clothing stores, food and beverage, theme parks, convenience stores and supermarkets. Website: http://www.eftpay.com.hk/ Ping An OneConnect Bank (Hong Kong) LimitedPing An OneConnect Bank (Hong Kong) Limited ("PAOB"), a wholly-owned subsidiary of OneConnect Financial Technology Co., Ltd. ("OneConnect") (HKEx:6638; NYSE:OCFT) and a member of Ping An Insurance (Group) Company of China Ltd. ("Ping An") (HKEx:2318; SSE:601318), is committed to establishing a virtual banking ecosystem by optimising customer-centric services through its innovation and sophisticated technology. PAOB was granted a virtual banking licence by the Hong Kong Monetary Authority in May 2019. PAOB is developing diverse business segments including retail banking and SME banking.

文章來源 : Media OutReach Limited 發表時間 : 瀏覽次數 : 2257 加入收藏 :
TrinaTracker Signs 510MW Solar Tracker Deal for Uzbekistan Solar Projects

CHANGZHOU, China, May 30, 2023 /PRNewswire/ -- TrinaTracker, a leading smart solar tracker solution provider under Trina Solar Co., Ltd. (SHA: 688599), recently signed an agreement with Dongfang Electric International Corporation ("DEC International") to provide 510MW solar trackers for solar projects in Uzbekistan. The contract signing ceremony was held on the first day of the 16th International Photovoltaic Power Generation and Smart Energy Conference & Exhibition (SNEC PV Power Expo) held in Shanghai from May 24-26, 2023. According to the contract, TrinaTracker will supply Vanguard 1P solar trackers to the Jizzakh and Samarkand solar power plants in Uzbekistan. Once connected to the grid, the two projects will generate 1.1 terawatt-hours (TWh) of renewable electricity annually, cutting an annual average of around 110,000 metric tons of CO2 emissions. Both are key projects in support of the government's agenda to transition to a green economy in the country.  This is the second project TrinaTracker has landed as the exclusive supplier for solar plants in Uzbekistan in support of the country's solar power development target of 4GW by 2026 and 5GW by 2030. The country aims to develop high quality solar power plants in a bid to maximize the benefits of solar energy in the energy system. TrinaTracker previously provided 2618 sets of solar trackers for the 100 MW Nur Navoi Solar Project, the country's first solar power plant, which was inaugurated in August 2021. Meanwhile, TrinaTracker's selection once again as the sole tracker supplier reflects the excellent product performance of previous projects, as well as wider local market acceptance, building on the Company's strong foundation for further development in Uzbekistan.     "Trina Solar has 25 years' experience in the solar industry and has consistently held the position of a top tier company. This gives confidence to project owners and developers from both product and branding perspectives," said Wang Ai, vice president of DEC International. "TrinaTracker has already had a successful experience in Uzbekistan, and their 'product+service' lifecycle solution has proven to be good, so we're confident the construction of the Jizzakh and Samarkand projects in collaboration with TrinaTracker will also be successful."

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 1639 加入收藏 :
Gaotu Techedu Announces First Quarter of 2023 Unaudited Financial Results

BEIJING, May 30, 2023 /PRNewswire/ -- Gaotu Techedu Inc. (NYSE: GOTU) ("Gaotu" or the "Company"), a technology-driven education company and online large-class tutoring service provider in China, today announced its unaudited financial results for the first quarter ended March 31, 2023. First Quarter 2023 Highlights[1] Net revenues were RMB707.3 million, compared with net revenues of RMB724.6 million in the same period of 2022. Gross billings[2] were RMB539.0 million, increased by 69.4% from RMB318.1 million in the same period of 2022. Income from operations was RMB95.1 million, increased by 275.9% from RMB25.3 million in the same period of 2022. Non-GAAP income from operations was RMB114.9 million, increased by 79.3% from RMB64.1 million in the same period of 2022. Net income was RMB113.9 million, increased by 112.1% from RMB53.7 million in the same period of 2022. Non-GAAP net income was RMB133.6 million, increased by 44.4% from RMB92.5 million in the same period of 2022. First Quarter 2023 Key Financial and Operating Data (In thousands of RMB, except for percentages) For the three months ended March 31, 2022 2023 Pct. Change Net revenues 724,615 707,292 (2.4) % Gross billings 318,095 538,951 69.4 % Income from operations 25,253 95,139 275.9 % Non-GAAP income from operations 64,078 114,881 79.3 % Net income 53,718 113,853 112.1 % Non-GAAP net income 92,543 133,595 44.4 %   [1] For a reconciliation of non-GAAP numbers, please see the table captioned "Reconciliations of non-GAAP measures to the most comparable GAAP measures" at the end of this press release. Non-GAAP income (loss) from operations and non-GAAP net income (loss) exclude share-based compensation expenses. [2] Gross billings is a non-GAAP financial measure, which is defined as the total amount of cash received for the sale of course offerings in such period, net of the total amount of refunds in such period. See "About Non-GAAP Financial Measures" and "Reconciliations of non-GAAP measures to the most comparable GAAP measures" elsewhere in this press release. Larry Xiangdong Chen, the Company's founder, Chairman and CEO, commented, "During the first quarter of 2023, we maintained the healthy and stable sequential growth in net revenues and drove a significant year-over-year increase in gross billings with lower selling expenses. The improvement in operational efficiency strengthened our profitability, which was demonstrated by the triple-digit year-over-year increases in both income from operations and net income, providing a strong start to 2023 that was in part positively affected by seasonality, but more importantly driven by our exceptional organizational capabilities and unwavering commitment to our strategy of long-term sustainable growth. Accordingly, we expect to achieve annual effective growth and generate a meaningful positive net operating cashflow for the full year 2023. In the meantime, we are convinced that the rapid development of artificial intelligence will bring about paradigm-shifting transformations across the education industry. We are actively embracing all the emerging possibilities as we continue developing and innovating, to create more efficient educational products and to deliver a more enjoyable learning experience to our students." Shannon Shen, CFO of the Company, added, "Guided by our profitable growth strategy, we materially improved our efficiency during the first quarter of 2023. In terms of operating metrics, customer acquisition efficiency rose by 73.8% year-over-year, driving a considerable 69.4% year-over-year increase in gross billings to RMB539.0 million. Regarding financial metrics, we reported a third consecutive quarter of steady sequential growth in net revenues, which increased by 12.3% quarter-over-quarter to RMB707.3 million, and net income sharply grew 112.1% year-over-year to RMB113.9 million, leading to the highest quarterly net income margin since our business restructuring in 2022. The substantial boost in profitability is a testament to the effectiveness of our continuous endeavors to refine operations and enhance customer acquisition efficiency. Going forward, we will leverage AI technology to further enhance efficiency and optimize costs to deliver long-term value for all our stakeholders." Financial Results for the First Quarter of 2023 Net Revenues Net revenues decreased by 2.4% to RMB707.3 million from RMB724.6 million in the first quarter of 2022. The slight year-over-year decrease was mainly due to changes in regulatory environment in the previous year, which partially and temporarily affected the scale of gross billings. Cost of Revenues Cost of revenues decreased by 24.8% to RMB160.0 million from RMB212.9 million in the first quarter of 2022. The decline was mainly due to the implementation of cost reduction and efficiency enhancement measures. The Company optimized employee structure and improved operational efficiency, which resulted in decreases in operational costs such as staff-related cost, server and bandwidth cost, rental cost, as well as depreciation cost. Gross Profit and Gross Margin Gross profit increased by 7.0% to RMB547.3 million from RMB511.7 million in the first quarter of 2022. Gross profit margin increased to 77.4% from 70.6% in the same period of 2022. Non-GAAP gross profit increased by 4.0% to RMB551.3 million from RMB530.0 million in the same period of 2022. Non-GAAP gross profit margin increased to 77.9% from 73.1% in the same period of 2022. Operating Expenses Operating expenses decreased by 7.0% to RMB452.2 million from RMB486.4 million in the first quarter of 2022. The decline was primarily due to the implementation of cost reduction and efficiency enhancement measures. The Company optimized employee structure and improved operational efficiency, which resulted in year-over-year decreases in operational expenses such as staff-related expense, rental expense, as well as depreciation expense. Selling expenses decreased to RMB277.0 million from RMB284.2 million in the first quarter of 2022. Research and development expenses decreased to RMB97.0 million from RMB123.3 million in the first quarter of 2022. General and administrative expenses decreased to RMB78.2 million from RMB78.9 million in the first quarter of 2022. Income from Operations Income from operations increased by 275.9% to RMB95.1 million from RMB25.3 million in the first quarter of 2022. Operating margin increased to 13.5% from 3.5% in the same period of 2022. Non-GAAP income from operations increased by 79.3% to RMB114.9 million from RMB64.1 million in the first quarter of 2022. Non-GAAP operating margin increased to 16.2% from 8.8% in the same period of 2022. Interest Income and Realized Gains from Investments Interest income and realized gains from investments, on aggregate, were RMB24.0 million, compared with a total of RMB19.3 million in the first quarter of 2022. Other Income Other income was RMB12.1 million, compared with other income of RMB28.0 million in the first quarter of 2022. Net Income Net income increased by 112.1% to RMB113.9 million from RMB53.7 million in the first quarter of 2022. Net income margin increased to 16.1% from 7.4% in the same period of 2022. Non-GAAP net income increased by 44.4% to RMB133.6 million from RMB92.5 million in the first quarter of 2022. Non-GAAP net income margin increased to 18.9% from 12.8% in the same period of 2022. Cash Flow Net operating cash outflow in the first quarter of 2023 was RMB216.4 million. The operating cash outflow in the first quarter was mainly due to the quarter-over-quarter decrease in gross billings during non-peak retention periods, as a result of the seasonality of our operations. Moreover, the payment of last year's year-end bonuses and other factors also contributed to the operational cash outflow. Basic and Diluted Net Income per ADS Basic and diluted net income per ADS were RMB0.44 and RMB0.42, respectively, in the first quarter of 2023. Non-GAAP basic and diluted net income per ADS were RMB0.51 and RMB0.49, respectively, in the first quarter of 2023. Share Outstanding As of March 31, 2023, the Company had 173,648,934 ordinary shares outstanding. Cash, Cash Equivalents, Restricted Cash, Short-term Investments and Receivables from Third-Party Payment Platforms As of March 31, 2023, the Company had cash and cash equivalents, restricted cash and short-term investments of RMB3,423.0 million in aggregate, compared with a total of RMB3,743.8 million as of December 31, 2022. As of March 31, 2023, the Company had receivables from third-party payment platforms of RMB86.6 million, which consisted of cash payments received from students but held by third-party payment platforms such as WeChat Pay and Alipay. As of the date of this earnings release, the vast majority of the balance from third-party payment platforms has been collected and converted into cash and cash equivalents. Business Outlook Based on the Company's current estimates, total net revenues for the second quarter of 2023 are expected to be between RMB648 million and RMB668 million, representing an increase of 20.5% to 24.2% on a year-over-year basis. These estimates reflect the Company's current expectations, which are subject to change. Conference Call The Company will hold an earnings conference call at 8:00 AM U.S. Eastern Time on Tuesday, May 30, 2023 (8:00 PM on Tuesday, May 30, 2023, Beijing/Hong Kong Time). Dial-in details for the earnings conference call are as follows: International: 1-412-902-4272United States: 1-888-346-8982Hong Kong: 800-905-945Mainland China: 400-120-1203 A telephone replay will be available two hours after the conclusion of the conference call through June 6, 2023. The dial-in details are: International: 1-412-317-0088United States: 1-877-344-7529Passcode: 5551166 Additionally, a live and archived webcast of this conference call will be available at http://ir.gaotu.cn/home. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook, as well as the Company's strategic and operational plans, contain forward-looking statements. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's ability to continue to attract students to enroll in its courses; the Company's ability to continue to recruit, train and retain qualified teachers; the Company's ability to improve the content of its existing course offerings and to develop new courses; the Company's ability to maintain and enhance its brand; the Company's ability to maintain and continue to improve its teaching results; and the Company's ability to compete effectively against its competitors. Further information regarding these and other risks is included in the Company's reports filed with, or furnished to the U.S. Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no duty to update such information or any forward-looking statement, except as required under applicable law. About Gaotu Techedu Inc. Gaotu is a technology-driven education company and online large-class tutoring service provider in China. The Company offers learning services and educational content & digitalized learning products. Gaotu adopts an online live large-class format to deliver its courses, which the Company believes is the most effective and scalable model to disseminate scarce high-quality teaching resources to aspiring students in China. Big data analytics permeates every aspect of the Company's business and facilitates the application of the latest technology to improve teaching delivery, student learning experience, and operational efficiency. About Non-GAAP Financial Measures The Company uses gross billings, non-GAAP gross profit, non-GAAP income (loss) from operations and non-GAAP net income (loss), each a non-GAAP financial measure, in evaluating its operating results and for financial and operational decision-making purposes. The Company defines gross billings for a specific period as the total amount of cash received for the sale of course offerings in such period, net of the total amount of refunds in such period. The Company's management uses gross billings as a performance measurement because the Company generally bills its students for the entire course fee at the time of sale of its course offerings and recognizes revenue proportionally as the classes are delivered. For some courses, the Company continues to provide students with 12 months to 36 months access to the pre-recorded audio-video courses after the online live courses are delivered. The Company believes that gross billings provides valuable insight into the sales of its course packages and the performance of its business. As gross billings have material limitations as an analytical metrics and may not be calculated in the same manner by all companies, it may not be comparable to other similarly titled measures used by other companies. Non-GAAP gross profit, non-GAAP income (loss) from operations and non-GAAP net income (loss) exclude share-based compensation expenses, and such adjustment excludes the impact on income tax. The Company believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance and liquidity by excluding share-based expenses that may not be indicative of its operating performance from a cash perspective. The Company believes that both management and investors benefit from these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management's internal comparisons to the Company's historical performance. A limitation of using non-GAAP measures is that these non-GAAP measures exclude share-based compensation charges that have been and will continue to be for the foreseeable future a significant recurring expense in the Company's business. The presentation of these non-GAAP financial measures is not intended to be considered in isolation from or as a substitute for the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the table captioned "Reconciliations of non-GAAP measures to the most comparable GAAP measures" set forth at the end of this release. The accompanying tables have more details on the reconciliations between GAAP financial measures that are most directly comparable to non-GAAP financial measures. Exchange Rate The Company's business is primarily conducted in China and a significant majority of revenues generated are denominated in Renminbi ("RMB"). This announcement contains currency conversions of RMB amounts into U.S. dollars ("USD") solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to USD are made at a rate of RMB6.8676 to USD1.0000, the effective noon buying rate for March 31, 2023 as set forth in the H.10 statistical release of the Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into USD at that rate on March 31, 2023, or at any other rate. For further information, please contact: Gaotu Techedu Inc.Investor RelationsE-mail: ir@gaotu.cn  Christensen In ChinaMs. Vivian WangPhone: +852-2232-3978E-mail: gotu@christensencomms.com  In the USMs. Linda BergkampPhone: +1-480-614-3004Email: lbergkamp@christensenir.com         Gaotu Techedu Inc. Unaudited condensed consolidated balance sheets (In thousands of RMB and USD, except for share, per share and per ADS data) As of December 31, As of March 31, 2022 2023 2023 RMB RMB USD ASSETS Current assets     Cash and cash equivalents 819,911 1,216,834 177,185     Restricted cash 22 - -     Short-term investments 2,923,864 2,206,153 321,241     Inventory 22,783 20,932 3,048     Prepaid expenses and other current assets 399,897 629,139 91,610 Total current assets 4,166,477 4,073,058 593,084 Non-current assets     Operating lease right-of-use assets 83,663 119,437 17,391     Property, equipment and software, net 552,032 537,563 78,275     Land use rights, net 27,373 27,171 3,956     Deferred tax assets 15,679 14,145 2,060     Rental deposit 9,502 11,432 1,665     Other non-current assets 21,449 20,626 3,003 TOTAL ASSETS 4,876,175 4,803,432 699,434 LIABILITIES Current liabilities     Accrued expenses and other current liabilities 662,189 600,347 87,418       (including accrued expenses and other       current liabilities of the consolidated VIE       without recourse to the Group of       RMB367,477 and RMB325,588 as of       December 31, 2022 and March 31,       2023, respectively)     Deferred revenue, current portion of the 906,914 682,510 99,381       consolidated VIE without recourse to the       Group    Operating lease liabilities, current portion 38,326 31,638 4,607       (including current portion of operating lease       liabilities of the consolidated VIE without       recourse to the Group of RMB21,281 and       RMB12,519 as of December 31, 2022 and       March 31, 2023, respectively) Income tax payable (including income tax 1,793 16,242 2,365    payable of the consolidated VIE without    recourse to the Group of RMB260 and    RMB1,861 as of December 31, 2022 and    March 31, 2023, respectively) Total current liabilities 1,609,222 1,330,737 193,771       Gaotu Techedu Inc. Unaudited condensed consolidated balance sheets (In thousands of RMB and USD, except for share, per share and per ADS data) As of December 31, As of March 31, 2022 2023 2023 RMB RMB USD Non-current liabilities     Deferred revenue, non-current portion of       the consolidated VIE without recourse       to the Group 52,419 88,067 12,824     Operating lease liabilities, non-current       portion (including non-current portion       of operating lease liabilities of the       consolidated VIE without recourse       to the Group of RMB17,457 and       RMB62,333 as of December 31, 2022       and March 31, 2023, respectively) 44,198 85,662 12,473    Deferred tax liabilities(including deferred       tax liabilities of the consolidated VIE without       recourse to the Group of RMB74,341 and       RMB73,786 as of December 31, 2022       and March 31, 2023, respectively) 74,507 74,235 10,809 TOTAL LIABILITIES 1,780,346 1,578,701 229,877 SHAREHOLDERS' EQUITY     Ordinary shares 115 115 17     Additional paid-in capital 7,915,899 7,935,650 1,155,520     Accumulated other comprehensive loss (64,062) (68,764) (10,013)     Statutory reserve 40,380 40,380 5,880     Accumulated deficit (4,796,503) (4,682,650) (681,847) TOTAL SHAREHOLDERS' EQUITY 3,095,829 3,224,731 469,557 TOTAL LIABILITIES AND TOTAL   SHAREHOLDERS' EQUITY 4,876,175 4,803,432 699,434       Gaotu Techedu Inc. Unaudited condensed consolidated statements of operations (In thousands of RMB and USD, except for share, per share and per ADS data) For the three months ended March 31, 2022 2023 2023 RMB RMB USD Net revenues 724,615 707,292 102,990 Cost of revenues (212,945) (159,982) (23,295) Gross profit 511,670 547,310 79,695 Operating expenses: Selling expenses (284,174) (277,021) (40,337) Research and development expenses (123,307) (96,977) (14,121) General and administrative expenses (78,936) (78,173) (11,383) Total operating expenses (486,417) (452,171) (65,841) Income from operations 25,253 95,139 13,854 Interest income 7,682 13,293 1,936 Realized gains from investments 11,659 10,724 1,562 Other income 28,004 12,066 1,757 Income before provision for income tax and share of results of equity investees 72,598 131,222 19,109 Income tax expenses (18,880) (17,369) (2,529) Net income 53,718 113,853 16,580 Net income attributable to Gaotu Techedu Inc.'s ordinary shareholders 53,718 113,853 16,580 Net income per ordinary share Basic 0.31 0.66 0.10 Diluted 0.31 0.63 0.09 Net income per ADS Basic 0.21 0.44 0.07 Diluted 0.21 0.42 0.06 Weighted average shares used in net income per share Basic 171,540,658 173,057,873 173,057,873 Diluted 175,328,961 179,607,924 179,607,924 Note: Three ADSs represent two ordinary shares.       Gaotu Techedu Inc. Reconciliations of non-GAAP measures to the most comparable GAAP measures (In thousands of RMB and USD, except for share, per share and per ADS data) For the three months ended March 31, 2022 2023 2023 RMB RMB USD Net revenues 724,615 707,292 102,990 Less: other revenues(1) 14,587 15,722 2,289 Add: VAT and surcharges 44,450 44,544 6,486 Add: ending deferred revenue 599,719 770,577 112,205 Add: ending refund liability 38,746 52,190 7,599 Less: beginning deferred revenue 996,218 959,333 139,690 Less: beginning refund liability 78,630 60,597 8,824 Gross billings 318,095 538,951 78,477 Note (1): Include miscellaneous revenues generated from services other than courses. For the three months ended March 31, 2022 2023 2023 RMB RMB USD Gross profit 511,670 547,310 79,695 Share-based compensation expenses in cost of revenues 18,349 3,990 581 Non-GAAP gross profit 530,019 551,300 80,276 Income from operations 25,253 95,139 13,854 Share-based compensation expenses 38,825 19,742 2,875 Non-GAAP income from operations 64,078 114,881 16,729 Net income 53,718 113,853 16,580 Share-based compensation expenses 38,825 19,742 2,875 Non-GAAP net income 92,543 133,595 19,455      

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 1895 加入收藏 :
2050@2023 Tech Meetup Launches Global Tour with First Stop in Singapore

SINGAPORE, May 30, 2023 /PRNewswire/ -- 2050@2023, a pioneering tech meetup, kicked off its world tour in Singapore on May 27, 2023, with 150 diverse volunteers from around the world gathered at the WingsOverAsia Flying Club, a renowned private aircraft club, where the plane that completed the 2050 aviation circumnavigation was parked nearby. What is 2050 With the vision of 'Science and technology bring young people together,' '2050' is all about technology, cities, and young people. Started in 2018, the event is held on the last full weekend of April every year at Yunqi in the city of Hangzhou. The 2050 meetup is a unique way of preparing for the 2050 event, with monthly meetups taking place. This meetup in the city of Singapore marks the first time that a 2050 meetup is held in Southeast Asia. Visionary keynote speakers Embracing 2050's slogan "Science and technology brings young people together," the lively event began with Dr. Zhang Bo, a 2050 volunteer from 2018, sharing his life lessons and journey. Having the courage to earn his pilot's license at 52 and complete an international flight at 54 made a strong impression on the young audience members, who responded particularly well to his maxim, "a kilometer of highway will take you nowhere, but a kilometer of runway can take you anywhere in the world." The next keynote speaker was Steven Liew, a native Singaporean and tech leader, who took the stage to explore the relationship between time and artificial intelligence. His reflections on the transformative power of future technology seemed to make the audience contemplative, and he reminded everyone that their existence within the internet and virtual worlds constitute the present-day metaverse. The third speaker, Seventeen Hu, a mother of two and an entrepreneur, shared her journey of becoming a private pilot while maintaining a successful career. Recounting the healing moment of seeing a circular rainbow from the sky, she emphasized that flying had become an integral part of her life and that learning to fly was a key milestone in the pursuit of her dreams. Lastly, Dr. Wang Jian, an Academician of the Chinese Academy of Engineering, also known as "Doctor" and a volunteer of 2050, delivered an inspiring talk. Sitting among the volunteers and embodying approachability, he expressed his hope that 2050 would serve as a catalyst for young tech enthusiasts to meet in person, emphasizing the significance of action over defining what 2050 represents. In particular, he highlighted that groundbreaking innovation is often driven by youth, citing the average age of pioneers in artificial intelligence introduction. Spirited discussion Motivated by Doctor's words, current National University of Singapore and Nanyang Technological University students as well as recent graduates shared their perspectives on AI and the impact of technology on their careers. Engaging conversations ensued with senior industry practitioners, exploring how technology could propel traditional sectors into a new era. The meetup session spanned five hours, imparting on students' new perspectives on technology and the future and marking a memorable weekend. In addition, the 120 volunteers who joined virtually shared their exhilaration with the 2050 event. A promising start to 2050@2023 Jo Xu, the moderator, acknowledged that, "The impact and atmosphere of the event exceeded expectations. Despite transportation challenges, nearly 300 strangers signed up, with almost 200 in attendance, exemplifying the essence of 2050 — the ability to manifest the seemingly impossible naturally and flawlessly." As Jo Xu is also the CEO of Openverse, this AI-empowered IP management company based in Singapore also offered full support for this event and the 2050-centered activities in Singapore and globally. With the goal of discovering intriguing volunteers and providing tech-loving youth worldwide with a platform to voice their ideas and foster tech collaborations. CONTACT: Jo Xu, jo.xu@openverse.io   

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 1997 加入收藏 :
首 頁 我的收藏 搜 尋 新聞發佈