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ZERO LATENCY ANNOUNCES THE RELEASE DATE FOR WARHAMMER 40,000: SPACE MARINE VR - DEFENDERS OF AVARAX, COMING OCTOBER 2024

Set in the Warhammer 40,000: Space Marine universe, the exclusive new free-roam VR experience will be available at Zero Latency's 90+ venues globally. MELBOURNE, Australia, May 24, 2024 /PRNewswire/ -- Zero Latency , the global leader in immersive entertainment and creator of the largest true in-person free-roam VR network in the world, has revealed the release date for the hotly anticipated Space Marine VR: Defenders of Avarax, coming to venues globally in October 2024.  From the Warhammer 40,000 universe, the hotly anticipated Space Marine VR: Defenders of Avarax is coming to Zero Latency VR venues globally. Available in October 2024. In Space Marine VR: Defenders of Avarax , you will play as a Space Marine, a genetically enhanced super-soldier. Exploring the Hive City of Fervastium, players will delve deep into a vault on an important mission that could turn the tide and help beat back the Tyranids, an all-consuming alien swarm from beyond the known galaxy. Using a wide range of weapons from the Space Marine arsenal, players will fight off voracious swarms of Tyranids as they step into the shoes of these highly disciplined and indomitable warriors. "The Warhammer 40,000 universe and Space Marine in particular has such awesome lore and history, we just couldn't wait to dive into it," said Tim Ruse, CEO at Zero Latency. "With Space Marine VR: Defenders of Avarax, we are pushing our technology to the limits, and our talented development team is creating our most immersive and thrilling experience yet. We can't wait for players to step into the Warhammer 40,000 setting and take on the Tyranids in this epic adventure." A teaser of Space Marine VR: Defenders of Avarax premiered on the Warhammer Skulls Showcase that went live today, giving fans a glimpse of what to expect when the game launches. Zero Latency uses best-in-class technology allowing players more freedom of movement than ever in incredible immersive worlds. To find a Zero Latency location or book a ticket to one of our existing experiences, head to https://booking.zerolatencyvr.com/book-now. ABOUT ZERO LATENCY: Zero Latency is a global leader in immersive entertainment, working at the cutting edge of VR and location-based experiences. With 90+ venues across 27+ countries, Zero Latency is the largest free-roam VR network in the world. Since opening the world's first free-roam VR venue in 2015, Zero Latency has thrilled more than 3.7 million players worldwide. SOCIAL MEDIA LINKS: Instagram and TikTok: @zerolatencyvr LinkedIn: Zero Latency VR About Games Workshop® Games Workshop® Group PLC (LSE:GAW.L), based in Nottingham, UK, produces the best fantasy miniatures in the world. Games Workshop designs, manufactures, retails, and distributes its range of Warhammer®: Age of Sigmar® and Warhammer® 40,000® games, miniatures, novels, and model kits through more than 540 of its own stores (branded Games Workshop® or Warhammer®), the www.games-workshop.com web store and independent retail channels in more than 50 countries worldwide. More information about Games Workshop and its other related brands and product ranges (including our publishing division 'Black Library' and our special resin miniatures studio 'Forge World') can be found at www.games-workshop.com. Warhammer 40,000: Space Marine VR © Games Workshop Limited 2024. Space Marine VR,the Space Marine VR logo, Defenders of Avarax, GW, Games Workshop, Space Marine, 40K, Warhammer, Warhammer 40,000, the 'Aquila' Double-headed Eagle logo, and all associated logos, illustrations, images, names, creatures, races, vehicles, locations, weapons, characters, and the distinctive likeness thereof, are either ® or TM, and/or © Games Workshop Limited, variably registered around the world, and used under licence. WARHAMMER 40,000: SPACE MARINE VR - DEFENDERS OF AVARAX, COMING OCTOBER 2024, ONLY AT ZERO LATENCY

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 329 加入收藏 :
Snail Inc's ARK: Survival Ascended Leads the Market with Premium Mods for Console, Opening New Revenue Streams

The launch of premium mods on console expands monetization opportunities for modders and indicates an exponential growth opportunity for the ARK Universe CULVER CITY, Calif., May 23, 2024 /PRNewswire/ -- Snail, Inc. (Nasdaq: SNAL) ("Snail" or "the Company"), a leading, global independent developer and publisher of interactive digital entertainment, is excited to announce that ARK: Survival Ascended is the first game to launch premium UE5 generated mods on console. This significant update marks an expansion of the ARK Universe, introducing new opportunities for professional modders to monetize their work while enhancing the gaming experience for ARK players. Following the successful launch of Bellwright on Steam Early Access, Snail, Inc. continues to demonstrate its commitment to captivating new players while adding value for its current fanbase. ARK: Survival Ascended's premium mods on console, provides new avenues for players and creators alike to engage with the ARK Universe. The addition of premium mods on consoles represents a strategic move by Snail and its partners Overwolf to support and invest in the thriving modding community in a new way. ARK: Survival Ascended is the first game to empower modders with the ability to leverage professional tools, such as Unreal Engine 5, to create high quality premium mods. ARK: Survival Ascended's revenue-sharing model, offers creators an industry-leading 50% share of revenue generated. By providing modders with the opportunity to monetize their work, the company fosters innovation and creativity within the ARK Universe. Snail's commitment to expanding the game's ecosystem and generating new revenue streams is highlighted by the never before seen introduction of professionally created mods to console. Modders' ability to easily create and monetize user-generated content on console opens up numerous opportunities for ASA's growth and development. Console players can now experience a more dynamic and engaging game, benefiting from the creativity and ingenuity of the modding community. Premium mods bring a diverse range of exciting new content to ARK: Survival Ascended. "Snail, Inc. is proud to offer modders more platforms to showcase their talents and reap the rewards of their creativity," said Peter Kang, Snail Inc. COO. "The launch of premium mods on consoles opens up a world of opportunities for the ARK community, enriching the game and supporting the long-term growth of ARK: Survival Ascended." For more information, visit Snail Games. Premium Mods Now Available on Console: Svartalfheim PremiumAnomalocarisGaia: Potions PlusReverence Premium Early AccessSurvive the NightOmega AscendedSky Islands About Snail, Inc. Snail is a leading, global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs and mobile devices. 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 intent, belief or current expectations, including the launch of premium mods for ARK: Survival Ascended on console and creating new opportunities for modders to monetize their work while enhancing the gaming experience for console players. These forward-looking statements include information about possible or assumed future results of Snail's business, financial condition, results of operations, liquidity, plans and objectives. 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. 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. Contacts: Investors:investors@snail.com Press:media@snail.com 

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 48 加入收藏 :
NetEase Announces First Quarter 2024 Unaudited Financial Results

HANGZHOU, China, May 23, 2024 /PRNewswire/ -- NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, "NetEase" or the "Company"), a leading internet and game services provider, today announced its unaudited financial results for the first quarter ended March 31, 2024. First Quarter 2024 Financial Highlights Net revenues were RMB26.9 billion (US$3.7 billion), an increase of 7.2% compared with the first quarter of 2023. Games and related value-added services net revenues were RMB21.5 billion (US$3.0 billion), an increase of 7.0% compared with the first quarter of 2023. Youdao net revenues were RMB1.4 billion (US$192.8 million), an increase of 19.7% compared with the first quarter of 2023. Cloud Music net revenues were RMB2.0 billion (US$281.1 million), an increase of 3.6% compared with the first quarter of 2023. Innovative businesses and others net revenues were RMB2.0 billion (US$272.8 million), an increase of 6.1% compared with the first quarter of 2023. Gross profit was RMB17.0 billion (US$2.4 billion), an increase of 14.2% compared with the first quarter of 2023. Total operating expenses were RMB9.4 billion (US$1.3 billion), an increase of 22.4% compared with the first quarter of 2023. Net income attributable to the Company's shareholders was RMB7.6 billion (US$1.1 billion). Non-GAAP net income attributable to the Company's shareholders was RMB8.5 billion (US$1.2 billion).[1] Basic net income per share was US$0.33 (US$1.65 per ADS). Non-GAAP basic net income per share was US$0.37 (US$1.84 per ADS).[1] [1] As used in this announcement, non-GAAP net income attributable to the Company's shareholders and non-GAAP basic and diluted net income per share and per ADS are defined to exclude share-based compensation expenses. See the unaudited reconciliation of GAAP and non-GAAP results at the end of this announcement. First Quarter 2024 and Recent Operational Highlights Our numerous established game franchises continued their overall high level of popularity with their loyal user bases, demonstrating ongoing sustainability. Hit games, including Eggy Party, Identity V and Infinite Borders, continued to generate player community enthusiasm. Among them, Identity V achieved a strong performance in the first quarter with continued momentum during its sixth anniversary celebration event with record-high DAUs in May. Expanded recent hit title launches in more regions, bolstering our appeal in broader areas. Dunk City Dynasty topped the iOS download charts in Hong Kong, Macau and Taiwan and ranked No. 1 in Taiwan and No. 2 in Hong Kong on the iOS grossing charts, respectively, following its local market introductions in April. Powered by seasonal updates in April, Racing Master once again ranked No. 1 on the iOS grossing chart in Taiwan and rose to the No.1 and No. 2 positions in Macau and Hong Kong, respectively. Introduced more exciting new titles to domestic players in the first quarter. Shi Jie Zhi Wai ranked No. 1 on China's iOS download chart soon after its launch and ranked No. 3 on China's iOS grossing chart after releasing new content updates. Strengthened robust game pipeline with multiple highly anticipated games, including Where Winds Meet, an open-world action-adventure RPG slated for launch in the third quarter, and Justice mobile with planned introductions in more regions, as well as other exciting titles across different genres, such as Naraka: Bladepoint mobile, Once Human and Marvel Rivals. Renewed a publishing agreement with Blizzard Entertainment to bring beloved titles back to China and entered into a broader collaboration with Microsoft Gaming. Youdao strategically focused on digital content services, online marketing services and AI-driven subscription-based membership services, achieving its first sequential quarter of positive net income. Cloud Music continued actively prioritizing its core music business, including a recent comprehensive product upgrade to its NetEase Cloud Music App, aimed at cultivating a music-centric ecosystem and driving sustainable long-term growth. "Alongside the enduring success of our time-honored flagship games, we continue to expand into diverse genres and achieve new milestones in game operations, user expansion and partnership establishment. With a portfolio featuring premium-quality games and more diversification across genres, we are well-positioned to extend our exciting gaming experiences to audiences around the globe," said Mr. William Ding, Chief Executive Officer and Director of NetEase. "We remain committed to innovation and genre expansion by leveraging our strong R&D capabilities while exploring more opportunities through collaboration with talent and partners globally. "In our broader NetEase family, Cloud Music and Youdao are performing well, providing innovative content offerings in their respective domains. Our focus in 2024 remains on crafting products and content that ignite the market with passion and deliver vibrant experiences, ultimately creating value for both our users and our Company," Mr. Ding concluded. First Quarter 2024 Financial Results Net Revenues Net revenues for the first quarter of 2024 were RMB26.9 billion (US$3.7 billion), compared with RMB27.1 billion and RMB25.0 billion for the preceding quarter and the first quarter of 2023, respectively. Net revenues from games and related value-added services were RMB21.5 billion (US$3.0 billion) for the first quarter of 2024, compared with RMB20.9 billion and RMB20.1 billion for the preceding quarter and the first quarter of 2023, respectively. Net revenues from the operation of online games accounted for approximately 95.2% of the segment's net revenues for the first quarter of 2024, compared with 93.4% and 92.7% for the preceding quarter and the first quarter of 2023, respectively. Net revenues from mobile games accounted for approximately 78.6% of net revenues from the operation of online games for the first quarter of 2024, compared with 76.7% and 72.3% for the preceding quarter and the first quarter of 2023, respectively.  Net revenues from Youdao were RMB1.4 billion (US$192.8 million) for the first quarter of 2024, compared with RMB1.5 billion and RMB1.2 billion for the preceding quarter and the first quarter of 2023, respectively. Net revenues from Cloud Music were RMB2.0 billion (US$281.1 million) for the first quarter of 2024, compared with RMB2.0 billion for the preceding quarter and the first quarter of 2023. Net revenues from innovative businesses and others were RMB2.0 billion (US$272.8 million) for the first quarter of 2024, compared with RMB2.8 billion and RMB1.9 billion for the preceding quarter and the first quarter of 2023, respectively. Gross Profit Gross profit for the first quarter of 2024 was RMB17.0 billion (US$2.4 billion), compared with RMB16.8 billion and RMB14.9 billion for the preceding quarter and the first quarter of 2023, respectively.  The quarter-over-quarter and year-over-year increases in games and related value-added services' gross profit were primarily due to increased net revenues from mobile games such as Eggy Party and certain newly launched titles. The quarter-over-quarter decrease in Youdao's gross profit was primarily due to decreased revenue contribution from its learning services and sales of smart devices. The year-over-year increase was primarily due to increased revenue contribution from its online marketing services. The quarter-over-quarter and year-over-year increases in Cloud Music's gross profit primarily resulted from the one-off adjustment of certain copyright costs, increased net revenues from sales of membership subscriptions and continued improvement in cost control measures. The quarter-over-quarter decrease in innovative businesses and others' gross profit was primarily due to decreased e-commerce net revenues from Yanxuan and advertising services resulting from seasonality. The year-over-year increase was primarily due to increased gross profit from Yanxuan and several other businesses included within the segment. Gross Profit Margin Gross profit margin for games and related value-added services for the first quarter of 2024 was 69.5%, compared with 69.5% and 66.7% for the preceding quarter and the first quarter of 2023, respectively. The year-over-year increase was mainly attributable to changes in revenue contribution from different platforms and self-developed games. Gross profit margin for Youdao for the first quarter of 2024 was 49.0%, compared with 49.9% and 51.7% for the preceding quarter and the first quarter of 2023, respectively. The quarter-over-quarter and year-over-year decreases were mainly due to increased revenue contribution from its online marketing services, which have a lower gross profit margin compared to its other products and services. Gross profit margin for Cloud Music for the first quarter of 2024 was 38.0%, compared with 30.3% and 22.4% for the preceding quarter and the first quarter of 2023, respectively. The quarter-over-quarter and year-over-year improvements were mainly due to the factors enumerated above. The one-off adjustment of certain copyright costs mentioned above increased the gross profit margin in the first quarter of 2024 by approximately five percentage points. Gross profit margin for innovative businesses and others for the first quarter of 2024 was 33.4%, compared with 34.4% and 25.4% for the preceding quarter and the first quarter of 2023, respectively. The quarter-over-quarter decrease was mainly due to decreased revenue contribution from advertising services. The year-over-year increase was mainly due to improved gross profit margins from Yanxuan and several other businesses included within the segment. Operating Expenses Total operating expenses for the first quarter of 2024 were RMB9.4 billion (US$1.3 billion), compared with RMB10.0 billion and RMB7.7 billion for the preceding quarter and the first quarter of 2023, respectively. The quarter-over-quarter decrease was mainly due to decreased research and development investments related to games and related value-added services and marketing expenditures, as well as lower staff-related costs. The year-over-year increase was mainly due to increased marketing expenditures and higher staff-related costs.  Other Income/(Expenses) Other income/(expenses) consisted of investment income/(loss), interest income, exchange (losses)/ gains and others. The quarter-over-quarter increase was mainly due to net exchange gains in the first quarter of 2024 compared with net exchange losses recorded in the prior quarter. The year-over-year increase was primarily attributable to higher interest income resulting from the improved net cash position and net exchange gains in the first quarter of 2024, compared with net exchange losses recorded in the first quarter of 2023. Income Tax The Company recorded a net income tax charge of RMB1.5 billion (US$205.8 million) for the first quarter of 2024, compared with RMB1.1 billion and RMB1.6 billion for the preceding quarter and the first quarter of 2023, respectively. The effective tax rate for the first quarter of 2024 was 16.0%, compared with 13.8% and 19.5% for the preceding quarter and the first quarter of 2023, respectively. The effective tax rate represents certain estimates by the Company as to the tax obligations and benefits applicable to it in each quarter. Net Income and Non-GAAP Net Income Net income attributable to the Company's shareholders totaled RMB7.6 billion (US$1.1 billion) for the first quarter of 2024, compared with RMB6.6 billion and RMB6.8 billion for the preceding quarter and the first quarter of 2023, respectively. NetEase reported basic net income of US$0.33 per share (US$1.65 per ADS) for the first quarter of 2024, compared with US$0.28 per share (US$1.42 per ADS) and US$0.29 per share (US$1.45 per ADS) for the preceding quarter and the first quarter of 2023, respectively.  Non-GAAP net income attributable to the Company's shareholders totaled RMB8.5 billion (US$1.2 billion) for the first quarter of 2024, compared with RMB7.4 billion and RMB7.6 billion for the preceding quarter and the first quarter of 2023, respectively. NetEase reported non-GAAP basic net income of US$0.37 per share (US$1.84 per ADS) for the first quarter of 2024, compared with US$0.32 per share (US$1.59 per ADS) and US$0.33 per share (US$1.63 per ADS) for the preceding quarter and the first quarter of 2023, respectively. Other Financial Information As of March 31, 2024, the Company's net cash (total cash and cash equivalents, current and non-current time deposits and restricted cash, as well as short-term investments balance, minus short-term and long-term loans) totaled RMB113.4 billion (US$15.7 billion), compared with RMB110.9 billion as of December 31, 2023. Net cash provided by operating activities was RMB9.6 billion (US$1.3 billion) for the first quarter of 2024, compared with RMB11.8 billion and RMB6.0 billion for the preceding quarter and the first quarter of 2023, respectively.  Quarterly Dividend The board of directors has approved a dividend of US$0.0990 per share (US$0.4950 per ADS) for the first quarter of 2024 to holders of ordinary shares and holders of ADSs as of the close of business on June 6, 2024, Beijing/Hong Kong Time and New York Time, respectively, payable in U.S. dollars. For holders of 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 June 6, 2024 (Beijing/ Hong Kong Time). The payment date is expected to be June 17, 2024 for holders of ordinary shares and on or around June 21, 2024 for holders of ADSs. NetEase paid a dividend of US$0.21597 per share (US$1.07985 per ADS) for the fourth quarter of 2023 in March 2024. Under the Company's current dividend policy, the determination to make dividend distributions and the amount of such distribution in any particular quarter will be made at the discretion of its board of directors and will be based upon the Company's operations and earnings, cash flow, financial condition and other relevant factors. Share Repurchase Program On November 17, 2022, the Company announced that its board of directors had approved a share repurchase program of up to US$5.0 billion of the Company's ADSs and ordinary shares in open market transactions. This share repurchase program commenced on January 10, 2023 and will be in effect for a period not to exceed 36 months from such date. As of March 31, 2024, approximately 8.9 million ADSs had been repurchased under this program for a total cost of US$811.0 million. The extent to which NetEase repurchases its ADSs and its ordinary shares depends upon a variety of factors, including market conditions. These programs may be suspended or discontinued at any time. ** The United States dollar (US$) amounts disclosed in this announcement are presented solely for the convenience of the reader. The percentages stated are calculated based on RMB.  Conference Call NetEase's management team will host a teleconference call with a simultaneous webcast at 7:00 a.m. New York Time on Thursday, May 23, 2024 (Beijing/ Hong Kong Time: 7:00 p.m., Thursday, May 23, 2024). NetEase's management will be on the call to discuss the quarterly results and answer questions. Interested parties may participate in the conference call by dialing 1-914-202-3258 and providing conference ID: 10038664, 15 minutes prior to the initiation of the call. A replay of the call will be available by dialing 1-855-883-1031 and entering PIN: 10038664. The replay will be available through May 30, 2024. This call will be webcast live and the replay will be available for 12 months. Both will be available on NetEase's Investor Relations website at http://ir.netease.com/. About NetEase, Inc. NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, "NetEase") is a leading internet and game services provider centered around premium content. With extensive offerings across its expanding gaming ecosystem, the Company develops and operates some of the most popular and longest running mobile and PC games available in China and globally. Powered by one of the largest in-house game R&D teams focused on mobile, PC and console, NetEase creates superior gaming experiences, inspires players, and passionately delivers value for its thriving community worldwide. By infusing play with culture, and education with technology, NetEase transforms gaming into a meaningful vehicle to build a more entertaining and enlightened world. Beyond games, NetEase service offerings include its majority-controlled subsidiaries Youdao (NYSE: DAO), an intelligent learning company with industry-leading technology, and Cloud Music (HKEX: 9899), a well-known online music platform featuring a vibrant content community, as well as Yanxuan, NetEase's private label consumer lifestyle brand. For more information, please visit: http://ir.netease.com/. Forward Looking Statements This announcement contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar expressions. In addition, statements that are not historical facts, including statements about NetEase's strategies and business plans, its expectations regarding the growth of its business and its revenue and the quotations from management in this announcement are or contain forward-looking statements. NetEase may also make forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in announcements 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. The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks related to: the risk that the online games market will not continue to grow or that NetEase will not be able to maintain its position in that market in China or globally; risks associated with NetEase's business and operating strategies and its ability to implement such strategies; NetEase's ability to develop and manage its operations and business; competition for, among other things, capital, technology and skilled personnel; potential changes in government regulation that could adversely affect the industry and geographical markets in which NetEase operates; the risk that NetEase may not be able to continuously develop new and creative online services or that NetEase will not be able to set, or follow in a timely manner, trends in the market; risks related to economic uncertainty and capital market disruption; risks related to the expansion of NetEase's businesses and operations internationally; risks associated with cybersecurity threats or incidents; and the risk that fluctuations in the value of the Renminbi with respect to other currencies could adversely affect NetEase's business and financial results. Further information regarding these and other risks is included in NetEase's filings with the SEC and announcements on the website of the Hong Kong Stock Exchange. NetEase does not undertake any obligation to update this forward-looking information, except as required under applicable law. Non-GAAP Financial Measures NetEase considers and uses non-GAAP financial measures, such as non-GAAP net income attributable to the Company's shareholders and non-GAAP basic and diluted net income per ADS and per share, as supplemental metrics in reviewing and assessing its operating performance and formulating its business plan. The presentation of non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). NetEase defines non-GAAP net income attributable to the Company's shareholders as net income attributable to the Company's shareholders excluding share-based compensation expenses. Non-GAAP net income attributable to the Company's shareholders enables NetEase's management to assess its operating results without considering the impact of share-based compensation expenses. NetEase believes that this non-GAAP financial measure provide useful information to investors in understanding and evaluating the Company's current operating performance and prospects in the same manner as management does, if they so choose. NetEase also believes that the use of this non-GAAP financial measure facilitates investors' assessment of its operating performance. Non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. Non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using non-GAAP net income attributable to the Company's shareholders is that it does not reflect all items of expense/ income that affect our operations. Share-based compensation expenses have been and may continue to be incurred in NetEase's business and are not reflected in the presentation of non-GAAP net income attributable to the Company's shareholders. In addition, the non-GAAP financial measures NetEase uses may differ from the non-GAAP measures used by other companies, including peer companies, and therefore their comparability may be limited. NetEase compensates for these limitations by reconciling non-GAAP net income attributable to the Company's shareholders to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company's performance. See the unaudited reconciliation of GAAP and non-GAAP results at the end of this announcement. NetEase encourages you to review its financial information in its entirety and not rely on a single financial measure. Contact for Media and Investors:Email: ir@service.netease.comTel: (+86) 571-8985-3378   NETEASE, INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands)  December 31,    March 31,   March 31,  2023 2024 2024  RMB    RMB    USD (Note 1)  Assets Current assets:    Cash and cash equivalents 21,428,902 43,026,904 5,959,157    Time deposits 100,856,034 89,473,549 12,391,943    Restricted cash 2,777,206 3,055,366 423,163    Accounts receivable, net 6,422,417 7,767,599 1,075,800    Inventories 695,374 603,981 83,650    Prepayments and other current assets, net 6,076,595 5,769,626 799,084    Short-term investments 4,436,057 2,095,218 290,184 Total current assets 142,692,585 151,792,243 21,022,981 Non-current assets:    Property, equipment and software, net  8,075,044 8,056,689 1,115,839    Land use rights, net 4,075,143 4,048,518 560,713    Deferred tax assets  1,560,088 1,476,100 204,437    Time deposits 1,050,000 1,050,000 145,423    Restricted cash 550 3,250 450    Other long-term assets 28,471,568 28,638,072 3,966,328 Total non-current assets 43,232,393 43,272,629 5,993,190 Total assets  185,924,978 195,064,872 27,016,171 Liabilities, Redeemable Noncontrolling Interests     and Shareholders' Equity Current liabilities:    Accounts payable  881,016 871,430 120,692    Salary and welfare payables 4,857,206 2,700,087 373,958    Taxes payable 2,571,534 3,844,879 532,510    Short-term loans 19,240,163 24,843,410 3,440,773    Contract liabilities 13,362,166 14,911,048 2,065,156    Accrued liabilities and other payables 12,930,399 12,878,519 1,783,651 Total current liabilities 53,842,484 60,049,373 8,316,740 Non-current liabilities:    Deferred tax liabilities 2,299,303 2,700,293 373,986    Long-term loans 427,997 427,997 59,277    Other long-term liabilities 1,271,113 1,248,717 172,945 Total non-current liabilities 3,998,413 4,377,007 606,208 Total liabilities 57,840,897 64,426,380 8,922,948 Redeemable noncontrolling interests  115,759 118,460 16,407 NetEase, Inc.'s shareholders' equity 124,285,776 127,275,764 17,627,490 Noncontrolling interests 3,682,546 3,244,268 449,326 Total equity 127,968,322 130,520,032 18,076,816 Total liabilities, redeemable noncontrolling      interests and shareholders' equity     185,924,978 195,064,872 27,016,171 The accompanying notes are an integral part of this announcement.     NETEASE, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (in thousands, except per share data or per ADS data)  Three Months Ended  March 31,  December 31,  March 31,   March 31,   2023 2023 2024 2024  RMB   RMB   RMB   USD (Note 1)  Net revenues 25,046,287 27,140,165 26,851,741 3,718,923 Cost of revenues (10,149,741) (10,315,030) (9,835,821) (1,362,245) Gross profit 14,896,546 16,825,135 17,015,920 2,356,678 Operating expenses: Selling and marketing expenses  (2,905,046) (4,225,556) (4,022,204) (557,069) General and administrative expenses (1,021,678) (1,251,869) (1,196,475) (165,710) Research and development expenses  (3,749,732) (4,479,219) (4,174,758) (578,197) Total operating expenses (7,676,456) (9,956,644) (9,393,437) (1,300,976) Operating profit 7,220,090 6,868,491 7,622,483 1,055,702 Other income/(expenses): Investment income/(loss), net 471,368 (8,940) 179,291 24,832 Interest income, net 776,030 1,261,583 1,277,597 176,945 Exchange (losses)/gains , net (386,568) (810,904) 15,011 2,079 Other, net 258,033 434,759 193,888 26,853 Income before tax 8,338,953 7,744,989 9,288,270 1,286,411 Income tax (1,628,559) (1,068,657) (1,485,910) (205,796) Net income 6,710,394 6,676,332 7,802,360 1,080,615 Accretion of redeemable noncontrolling    interests (860) (966) (958) (133) Net loss/(income) attributable to noncontrolling     interests and redeemable noncontrolling    interests 45,100 (93,103) (167,456) (23,192) Net income attributable to the     Company's shareholders 6,754,634 6,582,263 7,633,946 1,057,290 Net income per share * Basic 2.10 2.05 2.38 0.33 Diluted 2.07 2.02 2.35 0.33 Net income per ADS * Basic 10.49 10.25 11.88 1.65 Diluted 10.37 10.12 11.75 1.63 Weighted average number of ordinary     shares used  in calculating net income     per share * Basic 3,221,083 3,212,328 3,211,665 3,211,665 Diluted 3,256,511 3,253,166 3,249,452 3,249,452 *  Each ADS represents five ordinary shares. The accompanying notes are an integral part of this announcement.     NETEASE, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) Three Months Ended  March 31,    December 31,    March 31,    March 31,   2023 2023 2024 2024  RMB    RMB    RMB    USD (Note 1)  Cash flows from operating activities:     Net income  6,710,394 6,676,332 7,802,360 1,080,615     Adjustments to reconcile net income to net cash provided        by operating activities:     Depreciation and amortization 1,082,269 659,772 567,923 78,656     Fair value changes of equity security and other investments (226,720) 151,571 (368,258) (51,003)     Impairment losses on investments and other long-term assets - 140,648 128,417 17,786     Fair value changes of short-term investments (137,916) (106,532) (60,810) (8,422)     Share-based compensation cost 822,413 812,987 894,300 123,859     Allowance for expected credit losses 20,720 9,500 11,600 1,607     (Gains)/losses on disposal of property, equipment and software  (610) 3,385 2,132 295     Unrealized exchange losses/(gains) 385,961 838,056 (17,509) (2,425)     Gains on disposal of long-term investments, business and         subsidiaries (5,768) (38,437) (13,487) (1,868)     Deferred income taxes 577,666 193,854 485,054 67,179     Share of results on equity method investees and revaluation        results from previously held equity interest (95,808) (88,805) 164,271 22,751     Changes in operating assets and liabilities:          Accounts receivable (1,116,282) 53,089 (1,358,711) (188,179)         Inventories 117,330 25,054 91,378 12,656         Prepayments and other assets 125,827 542,593 326,140 45,170         Accounts payable (612,939) 18,443 (7,001) (970)         Salary and welfare payables (2,225,737) 1,992,931 (2,178,608) (301,734)         Taxes payable 733,716 (500,172) 1,271,822 176,145         Contract liabilities 489,991 (847,562) 1,574,086 218,008         Accrued liabilities and other payables (643,836) 1,271,572 242,070 33,526     Net cash provided by operating activities 6,000,671 11,808,279 9,557,169 1,323,652 Cash flows from investing activities:     Purchase of property, equipment and software (652,939) (484,927) (415,018) (57,479)     Proceeds from sale of property, equipment and software 2,504 405 3,506 486     Purchase of intangible assets, content and licensed copyrights     (826,682) (121,797) (188,821) (26,151)     Net changes of short-term investments with terms of three         months or less (723,151) (690,628) 2,401,649 332,625     Proceeds from maturities of short-term investments with terms         over three months 104,269 4,897,291 - -     Investment in long-term investments and acquisition of         subsidiaries (1,229,048) (914,962) (481,804) (66,729)     Proceeds from disposal of long-term investments, businesses         and subsidiaries 41,280 73,855 85,456 11,836     Placement/rollover of matured time deposits (36,320,103) (46,666,670) (34,558,836) (4,786,344)     Proceeds from maturities of time deposits 22,332,349 33,273,393 46,048,382 6,377,627     Change in other long-term assets (120,841) (90,635) (34,625) (4,796)     Net cash (used in)/provided by  investing activities (17,392,362) (10,724,675) 12,859,889 1,781,075 Cash flows from financing activities:     Net changes from loans with terms of three months or less   2,638,040 6,179,979 (399,726) (55,361)     Proceeds of loans with terms over three months 1,279,559 2,511,000 6,998,250 969,246     Payment of loans with terms over three months (40,422) (695,000) (957,000) (132,543)     Net amounts received related to capital contribution from        noncontrolling interests shareholders 24,349 28,009 42,214 5,847     Cash paid for repurchase of NetEase's ADSs/purchase of         subsidiaries' ADSs and shares       (2,116,757) (625,832) (1,233,780) (170,877)     Dividends paid to NetEase's shareholders (1,212,340) (2,258,892) (4,945,016) (684,877)     Net cash provided by/(used in)  financing activities      572,429 5,139,264 (495,058) (68,565)     Effect of exchange rate changes on cash, cash equivalents and         restricted cash held in foreign currencies 15,498 (174,276) (43,138) (5,975) Net (decrease)/increase in cash, cash equivalents and restricted cash                (10,803,764) 6,048,592 21,878,862 3,030,187 Cash, cash equivalents and restricted cash, at the beginning    of the period 27,588,325 18,158,066 24,206,658 3,352,583 Cash, cash equivalents and restricted cash, at end of the period 16,784,561 24,206,658 46,085,520 6,382,770 Supplemental disclosures of cash flow information:     Cash paid for income taxes, net 1,074,579 1,030,932 1,182,711 163,804     Cash paid for interest expenses 275,714 71,847 146,455 20,284 The accompanying notes are an integral part of this announcement.     NETEASE, INC. UNAUDITED SEGMENT INFORMATION (in thousands, except percentages) Three Months Ended  March 31,    December 31,    March 31,    March 31,   2023 2023 2024 2024 RMB RMB RMB USD (Note 1) Net revenues: Games and related value-added services  20,065,597 20,921,355 21,460,378 2,972,228 Youdao 1,163,270 1,480,521 1,391,859 192,770 Cloud Music 1,959,841 1,985,548 2,029,541 281,088 Innovative businesses and others 1,857,579 2,752,741 1,969,963 272,837 Total net revenues 25,046,287 27,140,165 26,851,741 3,718,923 Cost of revenues: Games and related value-added services  (6,683,048) (6,383,474) (6,555,311) (907,900) Youdao (561,420) (741,720) (710,356) (98,383) Cloud Music (1,520,378) (1,384,537) (1,259,006) (174,370) Innovative businesses and others (1,384,895) (1,805,299) (1,311,148) (181,592) Total cost of revenues (10,149,741) (10,315,030) (9,835,821) (1,362,245) Gross profit: Games and related value-added services  13,382,549 14,537,881 14,905,067 2,064,328 Youdao 601,850 738,801 681,503 94,387 Cloud Music 439,463 601,011 770,535 106,718 Innovative businesses and others 472,684 947,442 658,815 91,245 Total gross profit 14,896,546 16,825,135 17,015,920 2,356,678 Gross profit margin: Games and related value-added services  66.7 % 69.5 % 69.5 % 69.5 % Youdao 51.7 % 49.9 % 49.0 % 49.0 % Cloud Music 22.4 % 30.3 % 38.0 % 38.0 % Innovative businesses and others 25.4 % 34.4 % 33.4 % 33.4 % The accompanying notes are an integral part of this announcement.   NETEASE, INC. NOTES TO UNAUDITED FINANCIAL INFORMATION Note 1: The conversion of Renminbi (RMB) into United States dollars (USD) is based on the noon buying rate of USD1.00 = RMB7.2203 on the last trading day of March 2024 (March 29, 2024) as set forth in the H.10 statistical release of the U.S. Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted into US$ at that rate on March 29, 2024, or at any other certain date. Note 2: Share-based compensation cost reported in the Company's unaudited condensed consolidated statements of comprehensive income is set out as follows in RMB and USD (in thousands): Three Months Ended March 31,  December 31, March 31,  March 31,  2023 2023 2024 2024 RMB RMB RMB USD (Note 1) Share-based compensation cost included in: Cost of revenues 203,514 216,717 254,935 35,308 Operating expenses   Selling and marketing expenses 32,353 35,575 17,869 2,475   General and administrative expenses 294,281 262,830 289,636 40,114   Research and development expenses 292,265 297,865 331,860 45,962 The accompanying notes are an integral part of this announcement. Note 3: The financial information prepared and presented in this announcement might be different from those published and to be published by NetEase's listed subsidiary to meet the disclosure requirements under different accounting standards requirements. Note 4: The unaudited reconciliation of GAAP and non-GAAP results is set out as follows in RMB and USD (in thousands, except per share data or per ADS data): Three Months Ended  March 31,    December 31,   March 31,    March 31,   2023 2023 2024 2024 RMB RMB RMB USD (Note 1) Net income  attributable to the Company's shareholders 6,754,634 6,582,263 7,633,946 1,057,290 Add: Share-based compensation 811,600 797,194 876,898 121,449 Non-GAAP net income attributable to the Company's shareholders 7,566,234 7,379,457 8,510,844 1,178,739 Non-GAAP net income per share * Basic 2.35 2.30 2.65 0.37 Diluted 2.32 2.27 2.62 0.36 Non-GAAP net income per ADS * Basic 11.74 11.49 13.25 1.84 Diluted 11.62 11.34 13.10 1.81 *  Each ADS represents five ordinary shares. The accompanying notes are an integral part of this announcement.      

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Compete online with players from around the world in Suika Game!

The Suika Game Multi-Player Mode Expansion Pack-Online is now available for Nintendo Switch! TOKYO, May 23, 2024 /PRNewswire/ -- Aladdin X Inc., a subsidiary of the award-winning projector and laser projector brand XGIMI, has launched Multi-Player Mode Expansion Pack-Online" (1), which enables players to compete against each other on Nintendo Switch™. The Suika Game Multi-Player Mode Expansion Pack-Online is now available for Nintendo Switch! Suika Game is an original game released in April 2021 as part of the lighting-integrated 3-in-1 projector popIn Aladdin series (now renamed as the Aladdin X series). With the desire to go beyond being just a "built-in game" and to introduce the "Suika Game" to more players, it was released as a Nintendo Switch game on the Nintendo eShop in December 2021. The cumulative downloads of Suika Game have surpassed an impressive 9 millions times across Nintendo Switch, iOS, and Android platforms. The Suika Game has received high praise from players around the world. 1. The long-awaited "Suika Game Multi-Player Mode Expansion Pack-Online" is now available for online competition at Nintendo Switch e-shop in Japan, the United States , Europe, South Korea and HongKong, China. Nintendo Switch Game - Suika Game Multi-Player Mode Expansion Pack-Online How to Play In the Suika Game Multi-Player Mode Expansion Pack-Online, players can compete against random opponents from around the world through "Automatic Matching". If players want to play against a specific opponent, they can create rooms and invite friends, or enter rooms created by others. This Expansion Pack include "Original", "Time Limit", and "Attack" modes, mirroring those in the Suika Game Multi-Player Mode Expansion Pack-Offline. Create room and invite friend to compete against each other online! Icon Settings Players can customize their gaming avatar by combining favorite fruits and frame which will be displayed alongside their name on the friend list. Overview of Suika Game Multi-Player Mode Expansion Pack for Nintendo Switch Product Name: Suika Game Multi-Player Mode Expansion Pack Release Date: February 21, 2024 Price: 180 JPY / 2.25 USD / 2.25 EUR / 1870 KRW / 11 HKD - The "Suika Game Multi-Player Mode Expansion Pack" includes both offline and online versions. If you already bought the "Suika Game Multi-Player Mode Expansion Pack" , you can directly enjoy the "Suika Game Multi-Player Mode Expansion Pack-Online" at no additional cost with this new updated release. - Suika Game Multi-Player Mode Expansion Pack-Online requires a subscription to "Nintendo Switch Online" (paid). - To enjoy the "Suika Game Multi-Player Mode Expansion Pack", the purchase of the main game "Suika Game" (240 JPY / 2.99 USD / 2.99 EUR / 2500 KRW / 15HKD) is required. In addition, for those who do not have the Nintendo Switch game "Suika Game", we also offer the "Suika Game Bundle: Main Game & Multi-Player Mode" (420 JPY / 5.24 USD / 5.24 EUR / 4370 KRW / 26 HKD). * Nintendo Switch is a trademark of Nintendo. About Suika Game Suika Game is a puzzle game. Players group fruits of the same type and gradually evolve them into larger fruits, with the highest-level being watermelon. Copyright: ©︎ 2021 Aladdin X Inc Official Website: https://www.aladdinx.jp/pages/suika-game Official X: https://twitter.com/SuikaGame_jp  About XGIMI XGIMI Technology Co., Ltd (688696.SH), established in 2013, is a global leading brand in projectors and laser projectors, integrates design, R&D, manufacturing, sales, and service. Cooperating with well-known partners like Google, Harman Kardon, and Texas Instruments, XGIMI strives to create all-in-one entertainment products and continuously refine them with a user-centric approach. In 2023, XGIMI ranked first in the global home projector market in terms of shipments. Additional information is available at: https://global.xgimi.com/  

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GIGABYTE Showcases AI and User-Friendly Innovative Technology at COMPUTEX 2024

TAIPEI, May 22, 2024 /PRNewswire/ -- GIGABYTE, the world's leading computer brand, is poised to captivate audiences at this year's COMPUTEX with its latest offerings. From user-friendly designs to groundbreaking advancements in AI, visitors can expect a truly immersive experience across GIGABYTE and AORUS product lines such as motherboards, graphics cards, gaming monitors, and gaming laptops. As the world enters a new era of AI, GIGABYTE's presence at COMPUTEX hints at exciting developments in the realm of AI, promising visitors a glimpse into the future of computing. GIGABYTE Showcases AI and User-Friendly Innovative Technology at COMPUTEX 2024 GIGABYTE will showcase cutting-edge features across its product lineup at COMPUTEX 2024. The AI Laptops including AORUS 17X and AORUS 16X steal the spotlight with the exclusive GIGABYTE AI Nexus, featuring three functions including AI Boost, enhancing performance as per specific scenarios, AI Generator for quick startups with generative AI utilities, and AI Power Gear that intelligently conserves battery life by optimizing power consumption. Additionally, the GIGABYTE GeForce RTX 40 SUPER series graphics cards are engineered to provide intense gaming and reliable AI computing power across a diverse range of applications. Complementing these advancements, the OLED Monitor series such as AORUS CO49DQ, integrates AI algorithms to introduce OLED CARE, including six key features designed to minimize burn-in risks on OLED screens and extend the screen's lifespan. In terms of user-friendly designs, GIGABYTE presents innovations like the EZ-Latch and Stealth Design on motherboards, streamlining PC assembly with quick and convenient installations while ensuring a clean appearance through efficient cable management. The LCD Edge View across various components like AORUS GeForce RTX 4080 SUPER MASTER enables real-time monitoring of PC performance and customizable display options. Furthermore, the GIGABYTE Arm Edition gaming monitors are equipped with ergonomic monitor mounts designed to cater to various usage environments from PC gaming, console gaming, to even streaming media, realizing the true 4K entertainment. Within the GIGABYTE OLED Gaming Monitor series, the Tactical Switch feature optimizes gaming by instant switching to a 24-inch size, 1080p resolution with a single click, specifically designed for first-person shooter games. Additionally, GIGABYTE is proud to showcase multiple Red Dot 2024 award-winning products, including the Z790 AORUS XTREME X, Z790 AORUS MASTER X, Z790 AORUS PRO X, X670E AORUS PRO X motherboards, AORUS FO32U2P, GIGABYTE MO34WQC2 gaming monitors, and AORUS C400 GLASS gaming chassis. For more information, please visit the official GIGABYTE website at: https://bit.ly/GIGABYTE_COMPUTEX_2024

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The Pinkfong Company Launches "SEALOOK Shop" with Merchandise Featuring Global Sensation SEALOOK

With 1.3 billion YouTube views, Baby Shark creator's latest hit SEALOOK makes its foray into the world of merchandising on May 21 The dedicated online store will offer 39 products and worldwide shipping to over 200 countries Click HERE for images SEOUL, South Korea, May 22, 2024 /PRNewswire/ -- The Pinkfong Company, the global entertainment company behind Baby Shark, today announced that it will launch SEALOOK Shop, the official online store dedicated to its latest global hit 3D animated series, "SEALOOK", on Tuesday, May 21. The series, which has already garnered 1.3 billion YouTube views, is set to captivate fans worldwide beyond the screen with an array of exclusive merchandise ranging from plush toys to stationery collectibles, fashion accessories, and more. The Pinkfong Company Launches "SEALOOK Shop" with Merchandise Featuring Global Sensation SEALOOK Co-produced by The Pinkfong Company and Million Volt, SEALOOK is a 3D animated dialog-free series that follows the daily adventures of fun-loving seals living on the edge of the world. Its unique blend of contemporary music, short-form storytelling and cross-channel strategy resonates well with global audiences of all ages, especially Gen Z and Millennials. Since its launch in December 2022, SEALOOK has skyrocketed to 7.5 million subscribers, 1.5 million TikTok followers, and 400,000 cumulative Instagram followers, cementing its status as a rising star in the world of animation. Starting Tuesday, May 21, fans around the world can visit the SEALOOK Shop to explore a delightful collection of 39 products featuring SEALOOK, including plush toys, key chains, mouse pads, and more. With worldwide shipping to over 200 countries, the store caters to SEALOOK's growing fan base in key markets such as the U.S., U.K., Singapore, China, Indonesia, and Brazil. To celebrate the launch of the store, The Pinkfong Company will present a special promotion where customers who pre-order any of the four plush toys(Chubby Seal, Spotted Seal, and two Baby Seals) will receive a limited-edition SEALOOK acrylic key chain. Additionally, the customers who purchase products worth ₩30,000 KRW (Approximately $24 USD) or more will receive a complimentary memo pad on a first come first served basis. SEALOOK's popularity has already been proven beyond the screen, with successful marketing initiatives. SEALOOK received an enthusiastic response at '2024 Illustration Taipei', where more than 35,000 visitors gathered. "We are excited to showcase the charm of SEALOOK through a variety of products and bring joy to fans around the world," said the official of The Pinkfong Company. "Through the SEALOOK Shop, we look forward to offering a variety of merchandise that will allow fans to bring their favorite SEALOOK characters into their homes and enjoy them in their daily lives." For more information about the SEALOOK Shop and its products, please visit https://sealookshop.com/.  About The Pinkfong Company The Pinkfong Company is a global entertainment company that delivers content and entertaining experiences around the world. Driven by award-winning brands and IPs, the company has created and distributed a range of content across genres and formats including original animated series, world live tours, interactive games, and more. Believing in the power of entertaining and engaging content, The Pinkfong Company is committed to connecting people around the world and bringing joy and inspiration to worldwide audiences of all ages. For more information, please visit the website or follow the company on LinkedIn.  

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