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This collaboration highlighted the potential of green production and innovative cloud workflows. CUPERTINO, Calif., Aug. 30, 2024 /PRNewswire/ -- TVU Networks has worked with Red Bull Media House for the live transmission of the 2024 Wings for Life World Run, showcasing how green production and high-performance broadcasting can coexist. This collaboration enabled flawless global coverage of the world's largest running event, which saw participation from 265,818 people across 169 countries, representing 192 nationalities. Red Bull Media House Champion Cloud Broadcasting for 2024 Wings for Life World Run The Wings for Life World Run featured three types of events: 7 flagship locations, 25 locations for App Run Events, and numerous smaller App Run Events. The flagship events and App Run Events used cameras with TVU RPS One, lightweight and best-in-its class 5G transmitter, to send live feeds from remote locations to 23 receivers in Munich. In contrast, the smaller App Run Events, which did not have cameras or production crews, relied on the 33 TVU Anywhere app on participants' phones to transmit reliable live feeds. Journalists employed TVU Partyline's Multiviewer to monitor multiple live feeds simultaneously, identifying and selecting the most engaging live moments from participants worldwide. This tool created dynamic, real-time content that was broadcast to viewers, enhancing the overall viewing experience. All feeds were recorded and managed through TVU Search, featuring advanced capabilities like facial recognition and speech-to-text for efficient content management. This comprehensive recording allowed for the automated clipping of exciting segments, which were then distributed by producers to receivers. TVU Partyline offered participants worldwide the ability to monitor their production with minimal latency, ensuring a cohesive and interactive experience. Red Bull has demonstrated that cloud workflows are not only capable of handling the complexity of such a large-scale production but also enable faster content creation, benefiting the environment and millions of viewers. Blending remote production with TVU wireless transmitters and mobile apps into a cloud production workflow allows for unlimited ingest, AI-based search, and real-time clipping of celebrities, increasing viewer engagement and outputting to both digital and on-premise platforms. In a remarkable turn of events, the winner of the 2024 Wings for Life World Run was captured using the TVU Anywhere app. This outcome underscored the app's critical role in providing a live feed for the final moments of the race, something that was possible only through the innovative use of this smartphone technology.
HONG KONG, Aug. 30, 2024 /PRNewswire/ -- On August 29, Newborn Town (09911. HK) unveiled its interim results for the first half of 2024, demonstrating significant growth in various key operational indicators. The improvement was driven by its skyrocketing pan-audience social networking business and further expansion in the MENA market. According to the announcement, Newborn Town reported a total revenue of RMB 2,272 million for the first half of 2024, marking a substantial 65% period-on-period increase. Net profit for the period reached RMB 388 million, up 28% period-on-period. Profit attributable to the Company's owners was RMB 225 million, reflecting a 21% period-on-period rise. Adjusted EBITDA totaled RMB 448 million, demonstrating a 29% period-on-period increase. The social networking business segment attained robust growth, achieving revenue of approximately RMB 2,070 million, marking a 67% growth period-on-period. Additionally, the innovative sector made significant progress, recording around RMB 202 million in revenue, reflecting a 54% period-on-period growth. Notably, the Company's long-term investment in the MENA region has been yielding positive feedback. The capability for "product replication "has been further strengthened, with new products represented by SUGO rapidly maturing, thus bringing fresh growth momentum to the Company. As one of the major markets, the MENA market has consistently been the core focal point of the Company's strategic implementation of localization strategy. Through years of in-depth regional operations, Newborn Town has built up a comprehensive regional organization, nurtured a local team of employees, and forged strong connections with local creators and partners. The benefits brought about by Newborn Town's localization efforts are becoming increasingly evident. For the first half of 2024, the MENA market contributed over 50% of the Company's social networking business revenue, with the core products recording a 44% period-on-period increase. The MENA region has also been the market for Newborn Town's new business incubation. Products with high potential, such as TopTop and SUGO, have been successfully scaled up from inception as their business models were verified for global market expansion. This August, Saudi Arabia's Ministry of Investment granted Newborn Town a Regional Headquarters (RHQ) license, making it the world's first social entertainment company to establish a regional headquarters in Saudi Arabia. This move further consolidates Newborn Town's efforts in the MENA region. Under the RHQ program, Newborn Town will aim to build a trustworthy enterprise in the MENA region through close connections with governments, active engagement in community development and charitable activities, serving the local populace and building an ecosystem. While continuously widening the moat with its localization strength, Newborn Town has also achieved significant breakthroughs in product operation, starting to achieve the goal of replicating the popular apps that generate tens of millions of dollars in monthly revenue. After MICO, the companion-based social app SUGO has reached the target. Newborn Town's operation strategy, centered on cultivating the "Bushes" housing apps with diverse features, has been developed through a deep understanding of users' specific social and entertainment needs. Under this strategy, Newborn Town's strength in app operation has steadily advanced, alongside enhancements in the middle platform mechanism. Moreover, the Company's aggregated localized operation resources have hastened the emergence of hit apps by facilitating swift product launches, cost-effective trial and error testing, and highly efficient verification. SUGO and TopTop, the new apps under Newborn Town, have both experienced explosive revenue growth. SUGO, for example, has achieved an over 250% period-on-period increase in revenue. In July, SUGO contributed the majority revenue to Newborn Town among the apps. TopTop, the social gaming platform with a double period-on-period revenue increase in the first half, was featured as a recommendation on the Apple App Store in May, reaching users across dozens of countries and regions, including Saudi Arabia, the United Arab Emirates, and Oman. The first-mover products, such as MICO and YoHo, have also made significant strides. MICO, TopTop, SUGO, and YoHo all ranked on Sensor Tower's Top 10 highest-grossing social apps in MENA from January to May 2024. According to the announcement, the Company will persist in its pursuit of creating successful products in increasingly specialized niches and duplicating more apps that yield monthly revenues in the tens of millions of US dollars. Beyond its pan-audience social networking business achievements, Newborn Town's other business segments have also seen notable progress. HeeSay, the LGBTQ+ online community, has strengthened its global brand presence through more refined in-app operations. Since early this year, this platform has launched a series of offline events in Bangkok, Ho Chi Minh City, Los Angeles, etc., fostering a stronger sense of community among users. These efforts have contributed to an increase in business scale of approximately 25%. In addition, the Company has continued investment in developing quality games. In the first half of 2024, Newborn Town's quality games achieved a recharge of RMB 387 million, up 393% period-on-period. Its flagship title, Alice's Dream: Merge Games, secured a spot among Sensor Tower's top 30 Chinese mobile games in overseas revenue for May and June. Overall, Newborn Town has made significant strides across key markets and various business segments in the first half of 2024. The Company has reinforced the validity of its business models in the social sector, bolstering the competitiveness of its new products and injecting new growth catalysts. Moving forward, Newborn Town aims to delve deeper into the social entertainment realm, gaining a foothold in MENA and expanding globally to create positive emotional values.
SHENZHEN, China, Aug. 29, 2024 /PRNewswire/ -- UTime Limited (NASDAQ: WTO) ("UTime" or the "Company"), which continues to build on its strengths in the global healthcare sector, has announced that it has commenced a comprehensive financial and legal due diligence on Bowen Therapeutics Inc ("Bowen Therapeutics"), which it intends to acquire. The move marks an important step in UTime's expansion of its presence in the field of innovative medical products, with the aim of strengthening its market position and advancing the future of medical technology. Bowen Therapeutics, is expected to become a key part of UTime's expansion strategy. Bowen Therapeutics has enjoyed a strong reputation in the medical technology sector since its inception. Its unique research and development capabilities and innovative technologies are widely recognized in the industry. In particular, its progress in the development of monkeypox vaccine has contributed a number of breakthrough technologies to global healthcare. UTime intends to leverage the proposed acquisition to integrate Bowen Therapeutics's advanced technologies and research and development capabilities in order to facilitate the Company's technological innovation and market expansion in the healthcare sector. The financial and legal due diligence on Bowen Therapeutics is a critical step necessary for UTime to secure its investment and build a solid foundation of information to support its acquisition decision. The due diligence process will cover a wide range of aspects of Bowen Therapeutics's business and operations and involve in-depth investigations and analysis. Specifically, in terms of financial due diligence, UTime will focus on Bowen Therapeutics's financial statements, assets and liabilities, and cash flow position. In addition, UTime will scrutinize the tax records and accounting systems of Bowen Therapeutics to ensure compliance with international financial reporting standards. Legal due diligence, on the other hand, focuses on reviewing Bowen Therapeutics's legal affairs, including, but not limited to, corporate governance structure, legality of contracts, intellectual property rights, and the existence of any pending litigation or regulatory violations. This process is critical to prevent potential legal risks. Due diligence is a complex and exhaustive process that involves numerous aspects. As the due diligence process progresses, UTime will be able to gain a comprehensive understanding of Bowen Therapeutics's business and operations, assess potential risks and opportunities, and make decisions that are consistent with the Company's long-term growth strategy. About UTime Limited UTime Limited, established in 2008, provides cost-effective mobile devices to consumers globally and helps low-income individuals from established markets, including the United States, and emerging markets, such as India and countries in South Asia and Africa, have better access to updated mobile technology. Since 2024, UTime has been committed to transforming health and wellness through innovative medical wearable technologies. By leveraging cutting-edge research and strategic partnerships, UTime aims to provide effective solutions for disease prevention and health management on a global scale. For more information, visit the Company's website at http://www.utimeworld.com/. Forward-Looking Statements Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors discussed in the "Risk Factors" section of the Company' annual report on Form 20-F filed with the U.S. Securities and Exchange Commission on July 30, 2024. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company specifically disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. For more information, please contact:Eaky Taneaky@westock.com
EBITDA up 13% as stage is set for next growth phase HONG KONG, Aug. 29, 2024 /PRNewswire/ -- NetDragon Websoft Holdings Limited ("NetDragon" or the "Company"; Hong Kong Stock Code: 777), a global leader in building internet communities, today announced its financial results for the first half of 2024. NetDragon's management team will hold a results presentation and webcast at 10:00am Hong Kong time on 30 August 2024 to discuss the results and recent business development. Dr. Dejian Liu, Chairman of NetDragon, commented: "In the first half of the year, we delivered results that demonstrate both our resilience in the face of short-term challenges and our focus in building products to strengthen our competitive position and drive long-term growth. Our domestic PC gaming business delivered revenue of RMB1.36 billion, an increase of 2.1% YoY driven by our focus in driving engagement and retention of players. We believe as players' spending habits are clearly trending towards games with high quality contents and highly acclaimed IP, our iconic and non-replicable flagship IPs, together with our business model of building high quality games around these IPs, put us in a great position to differentiate and drive sustainable growth. With that being said, our overall gaming revenue in the first half was affected by our overseas revenue which declined by 12.9% YoY due to short-term temporary issues, and we are confident to emerge in the second half with a stronger performance. Our confidence stems from the fact that the execution of our growth strategy remains on track with many positive news to share. Our new game Code-Alpha is expected to be launched in the second half and will be expanding into several countries. We also received encouraging metrics from our testing of Under Oath Overseas Version which puts us on track to launch this new ACGN game in the Japanese market within the next 6 to 9 months. In addition, we have received very positive players' feedback for our new roguelike top-down shooter game Nebula Rangers that featured a second place on the TapTap platform's ranking of new games, coupled with a user score of 8.0. We expect this game to launch globally in 2025 and has the potential to become a new major title with high DAU." "Turning to our education business, our overseas education subsidiary, Mynd.ai, continued to go through a stage of industry transformation that presents both challenges and opportunities. On the one hand, we continued to see softening hardware shipment as education authorities are still reacting to a broad normalization of budgets post-Covid, and from a macro standpoint, inflation also played a role in affecting budget allocation decisions of schools. On the other hand, we believe the market is in a very early stage of transitioning from a hardware-centric model to an integrated software and service-based model, which presents a transformational opportunity, especially for Mynd.ai as the incumbent market leader in our addressable markets with an installed base of over 1 million classrooms." "In recent months, NetDragon has also made remarkable progress in our country-level initiatives in Thailand and the Kingdom of Saudi Arabia. In particular, we have announced a strategic initiative to develop aom-ai, a state-of-the-art AI education platform, with the support by the Ministry of Higher Education, Science, Research and Innovation in Thailand. This learning platform, which combines our cutting-edge education technologies with deep local insights of learners in the local market, is set for launch later this year. In Saudi Arabia, we are also working closely with the Ministry of Education on several exciting education technology initiatives in markets including K12 learning as well as technical and vocational training segments." 2024 First Half Financial Highlights Revenue was RMB3.30 billion, representing a 10.3% decrease YoY. Revenue from the gaming and application services was RMB2.12 billion, representing 64.3% of the Company's total revenue and a 0.8% decrease YoY. Revenue from Mynd.ai was RMB1.18 billion, representing 35.7% of the Company's total revenue and a 23.5% decrease YoY. Gross profit was RMB2.20 billion, representing a 3.8% decrease YoY. Core segmental profit[1] from the gaming and application services was RMB688 million, representing an 11.5% decrease YoY. Core segmental loss1 from Mynd.ai was RMB111 million, compared to a loss of RMB48 million in the first half of last year. Operating profit was RMB634 million, representing a 9.3% decrease YoY. Non-GAAP operating profit[2] was RMB640 million, representing a 7.5% decrease YoY. EBITDA was RMB1.04 billion, representing a 12.9% increase YoY. Non-GAAP EBITDA2 was RMB1.15 billion, representing a 33.1% increase YoY. Profit attributable to owners of the Company was RMB400 million, representing a 20.0% decrease YoY. Non-GAAP profit attributable to owners of the Company2 was RMB558 million, representing a 5.3% decrease YoY. The Company declared an interim dividend of HKD0.40 per ordinary share for the six months ended 30 June 2024. 1 Core segmental profit (loss) figures are derived from the Group's reported segmental profit (loss) figures (presented in accordance with Hong Kong Financial Reporting Standard ("HKFRS") 8), but exclude non-core/ operating, non-recurring or unallocated items including government grants, impairment loss (net of reversal), fair value change and exchange gain on financial assets at fair value through profit or loss ("FVTPL"), fair value change and exchange loss on derivative financial instruments, interest expense and exchange loss on convertible and exchangeable bonds and convertible note, redundancy payments, legal and professional fees for spin-off and reversal of impairment loss of intangible assets. 2 To supplement the consolidated results of the Group prepared in accordance with HKFRSs, the use of non-GAAP measures is provided solely to enhance the overall understanding of the Group's current financial performance. The non-GAAP measures are not expressly permitted measures under HKFRSs and may not be comparable to similarly titled measures for other companies. The non-GAAP measures of the Group exclude share-based payments expense, amortisation of intangible assets arising on acquisitions of subsidiaries, write-down of inventories, fair value change on investment properties, fair value change on financial assets at FVTPL, fair value change on derivative financial instruments, finance costs, deferred tax, reversal of impairment loss of intangible assets, gain on disposal of intangible assets and exchange gain on pledged bank deposits, financial assets at FVTPL, convertible and exchangeable bonds and derivative financial instruments. Segmental Financial Highlights 2024 First Half 2023 First Half Variance (RMB million) Gamingand application services Mynd.ai Gaming and application services Mynd.ai Gaming and application services Mynd.ai (Restated) (Restated) Revenue 2,121 1,180 2,139 1,542 -0.8 % -23.5 % Gross profit 1,849 351 1,896 392 -2.5 % -10.5 % Gross margin 87.2 % 29.7 % 88.6 % 25.4 % -1.4 ppts +4.3 ppts Core segmental profit (loss)1 688 (111) 777 (48) -11.5 % +131.3 % Segmental operating expenses3 - Research and development (595) (101) (542) (99) +9.8 % +2.0 % - Selling and marketing (210) (139) (240) (187) -12.5 % -25.7 % - Administrative (324) (200) (361) (145) -10.2 % +37.9 % 3 Segmental operating expenses exclude unallocated expenses/income such as directors' fee and salaries, amortisation and exchange difference that have been grouped into SG&A categories on the Company's reported consolidated financial statements, but cannot be allocated to specific business segments for purpose of calculating the segmental profit (loss) figures in accordance with HKFRS 8. Gaming Business Our gaming revenue, which represents 87.8% of gaming and application services revenue, reached RMB1.86 billion in the first half, representing a 1.3% increase HoH and a 3.0% decrease YoY. Our focus in the first half was two-fold. On the one hand, we focused on deepening engagement of users through our ever-increasing quality of gaming experience for our existing games, hence leading to strong retention of users that pave the way for long-term sustainability of our existing games. On the other hand, we made remarkable progress in the development and testing of our new games in the pipeline, and we are pleased to have seen some promising metrics and feedback that put us in a strong position to grow our revenue in the next 6 to 12 months. During the first half, domestic PC game revenue was RMB1.36 billion, marking a YoY increase of 2.1% and a HoH increase of 5.3%. Our three major IPs, Eudemons, Conquer and Heroes Evolved, all recorded both YoY and HoH growth for their respective domestic PC gaming revenues. The stable growth of our existing games is a result of our focus in expanding our gaming contents towards an optimal combination of content-driven and numerical attributes-driven spending that leads to higher quality of gaming experience over time. Our top flagship IP Eudemons generated a total revenue of RMB1.69 billion during the period, representing a 0.6% HoH increase and a 3.8% YoY decrease. The performance of Eudemons IP in the first half was affected largely by two factors, namely (1) stable HoH performance of our existing Eudemons games during the period while we put our focus in working towards the launch of our next new Eudemons game, Eudemons Remake Version, which is scheduled to launch in Q1 of next year, and (2) short-term disruptive bot issues experienced in the overseas version of Eudemons Online, where measures have already been put in place to put the game back on growth track. We continued to focus on enhancing quality of experience for our players leading to YoY growth of both gameplay-driven and content-driven revenue of our flagship game Eudemons Online in the domestic market during the first half. In particular, our measures include enhancing the depth and richness of different character roles, optimizing our graphics and in-game music, and integrating "Guofeng" and cultural elements to resonate with the interests and passion of many of our players. Going forward, we expect to implement a multi-pronged growth strategy for the Eudemons IP, including achieving stable growth for our existing games, launching the Eudemons Remake Version and Eudemons Pocket Version 2.0 (in early 2025 and 2026 respectively) to target the huge existing pool of Eudemons IP players with a market-proven revenue model, as well as developing a new Eudemons PC game to be launched in the second half of 2025 to target both brand new players and existing player pool. We believe this strategy will bring the revenue scale of the Eudemons IP to a new level, and will drive revenue growth for many years to come. Our Heroes Evolved IP continued to make positive progress in the first half, both from a revenue growth standpoint and a long-term strategic development standpoint. In particular, our Heroes Evolved PC game continued its momentum and delivered three consecutive reporting periods of revenue growth with a 29.6% increase in revenue YoY in the first half, driven by significant enhancements in overall gameplay and success in utilizing e-sports events to "activate" our players, leading to increase in players' retention, APA and ARPU during the period. We also saw a 28% increase in the number of e-sports teams participating in our summer season competition, as well as a 71% increase in the audience number compared to the same competition in the autumn season last year. In terms of expanding our mobile revenue for Heroes Evolved, we are in testing stage for our new mobile game Code-Nirvana and target to launch the game in 2025. Our Conquer IP delivered strong result in the domestic market with a 6.6% YoY increase in revenue, driven by two major content updates and the introduction of new innovative gameplays. In Egypt, our largest overseas market for Conquer Online, user spending dropped slightly by 1.3% YoY (on basis of local currency) mainly due to short-term restriction in electricity consumption (such restriction has subsequently been suspended in July, and it is expected that the electricity shortage will be resolved by the end of this year4). Despite the short-term revenue decline, we continued to gain traction with monetization, as our APA grew by 16.7% YoY. We are also making notable progress in expanding the casual gameplay within the game, with casual players increasing by 12.7%, laying the foundation for a larger revenue base going forward. We also made great strides in executing our long-term strategy of expanding our IP and genre. Our new roguelike top-down shooter game under development Nebula Rangers started testing on TapTap in July and received a user score of 8.0. The game is expected to launch globally in 2025 and has the potential to become a new high DAU title. Furthermore, our new casual game Code-Alpha started testing in the overseas markets in June with positive results, and we expect meaningful revenue contribution from this game for the rest of the year with the potential to open up a new track for a casual entertainment genre. We are also making inroad in the ACGN genre as we received positive testing metrics in the overseas market for Under Oath after several rounds of game refinement in the past 12 months, and we currently believe there is strong visibility to launch the game in the first half of 2025. Last but not least, we are in the testing stage for our other new games including Miracland Saga, a new MMORPG to focus on the overseas market, and Huan Kong Cheng Zhan Ge to target the idle card game segment. Looking forward in terms of our new game pipeline as a whole, we expect to drive growth of our overall revenue and profitability by delivering on our new game launches in the number of 4-5 new titles in the coming 6-9 months spanning across both our existing flagship IPs and new IPs. 4 According to news article: Egypt to stop load-shedding power cuts on Sunday: PM Madbouly, Ahram Online, 17 July 2024 Mynd.ai Our overseas education subsidiary, Mynd.ai, has experienced a continued industry-wide softening demand trend throughout most of its key geographic markets. After several years of high funding as a result of COVID-related government relief programs, local education authorities are still reacting to a broad normalization of budgets which affected hardware revenue for all players in the interactive flat panel market during the period. In addition, inflation has also led to higher recurring overhead costs for schools that affected budget allocation decisions for many of our customers. The key financial milestones for Mynd.ai in the first half of the year are as follows: Revenue of RMB1.18 billion compared to RMB1.54 billion in the first half of the prior year, with the decrease primarily driven by reduced spending by key customers due to the softer industry demand Gross margins increased 430 basis points to 29.7% primarily due to increased operational efficiencies leading to cost savings in a number of areas, including lower component material pricing, freight and other savings as a result of moving part of the manufacturing process to Mexico, as well as lower warranty costs due to observed lower failure rates on our ActivPanel 9 and our ActivPanel LX models Cash flow from operations improvement of RMB34 million compared to the same period in the prior year[5] Cash position of RMB494 million with available existing credit line Adjusted EBITDA loss of RMB40 million, a slight 7.5% YoY improvement (despite the decline in revenue) primarily driven by optimization of overhead costs5 Net loss of RMB340 million compared to a loss of RMB109 million in the same period in the prior year, primarily due to the recording of a one-time non-cash valuation allowance against deferred tax assets in the amount of RMB294 million5 (excluding this one-time effect, net loss narrowed by 58.0% YoY) Management continuing to implement cost saving measures to mitigate effects of headwinds in the hardware market 5 From Form 6-K filing of Mynd.ai, in accordance with U.S. GAAP Despite the near-term challenges, we are confident in our business model and are well positioned to prioritize and streamline our operations and navigate the market challenges, as evidenced by our margin improvement. As we continue to pursue cost optimization initiatives and evaluate our capital allocation strategy, we believe we are competitively well positioned to continue as the market leader in this space. On a broader scale, we are facing an unprecedented opportunity as we believe the global classroom education technology market is still in a very early stage of evolving from a hardware-centric model to an integrated software and service based model. We believe Mynd.ai's position as the incumbent market leader in our addressable markets, our installed base of over 1 million classrooms, a well-established network of distribution channels and a head-start advantage in launching its first SAAS offering in Explain Everything Advanced earlier this year are competitive moats that put us in a unique position at this market juncture. In view of the opportunity ahead of us, we are dedicated to delivering hardware and software solutions with groundbreaking tools and new technologies for the education, business, and public sectors in line with our long-term strategic vision. We expect our subsidiary Mynd.ai to host a capital markets day in the near future to detail our strategic plan to our shareholders and the investor community. Management Presentation and Webcast NetDragon's management team will hold a results presentation and webcast at 10:00am Hong Kong time on 30 August 2024 to discuss the results and recent business developments. Details of the presentation are as follows: Time: 10:00 AM, Hong Kong Time on 30 August 2024, Friday / 10:00 PM, Eastern Time on 29 August 2024, Thursday Format: Physical Presentation at The Executive Centre, Hong Kong OR Online Webcast Venue: Level 2, No. 28 Stanley Street, Central, Hong Kong Webcast: https://webcast.roadshowchina.cn/Ym82eDBGWlozOGdtNjY5TUF6L3RDQT09 The live and archived webcast of the conference call will be available on the Investor Relations section of NetDragon's website at http://ir.nd.com.cn/en/category/webcast. Participants in the live webcast should visit the aforementioned website 10 minutes prior to the call, then click on the icon for "2024 Interim Results Presentation and Webcast" and follow the registration instructions. About NetDragon Websoft Holdings Limited NetDragon Websoft Holdings Limited (HKSE: 0777) is a global leader in building internet communities with a long track record of developing and scaling multiple internet and mobile platforms that impact hundreds of millions of users, including previous establishments of China's first online gaming portal, 17173.com, and China's most influential smartphone app store platform, 91 Wireless. Established in 1999, NetDragon is one of the most reputable and well-known online game developers in China with a history of successful game titles including Eudemons Online, Heroes Evolved, Conquer Online and Under Oath. In the past 10 years, NetDragon has also achieved success with its online education business both domestically and globally, and its overseas education business entity, currently a U.S.-listed subsidiary named Mynd.ai, is a global leader in interactive technology and its award-winning interactive displays and software can be found in more than 1 million learning and training spaces across 126 countries. For investor enquiries, please contact:NetDragon Websoft Holdings LimitedMs. Maggie ZhouSenior Director of Investor RelationsEmail: maggiezhou@nd.com.hk / ir@netdragon.com Website: ir.netdragon.com CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED 30 JUNE 2024 Six months ended 30 June 2024 2023 (Unaudited) (Unaudited) RMB million RMB million Revenue 3,301 3,681 Cost of revenue (1,102) (1,394) Gross profit 2,199 2,287 Other income and gains 139 120 Selling and marketing expenses (352) (443) Administrative expenses (551) (570) Research and development costs (696) (641) Other expenses and losses (105) (54) Operating profit 634 699 Exchange gain (loss) on pledged bank deposits, financial assets at fair value through profit or loss, convertible and exchangeable bonds and derivative financial instruments 2 (35) Fair value change on financial assets at fair value through profit or loss 77 35 Fair value change on derivative financial instruments 70 15 Finance costs (81) (135) Profit before taxation 702 579 Taxation (397) (126) Profit for the period 305 453 Other comprehensive income (expense) for the period, net of income tax: Item that may be reclassified subsequently to profit or loss: Exchange differences arising on translation of foreign operations 1 61 Item that will not be reclassified to profit or loss: Fair value change on equity instruments at fair value through other comprehensive income (12) (1) Other comprehensive (expense) income for the period (11) 60 Total comprehensive income for the period 294 513 Profit (loss) for the period attributable to: - Owners of the Company 400 500 - Non-controlling interests (95) (47) 305 453 Total comprehensive income (expense) for the period attributable to: - Owners of the Company 388 557 - Non-controlling interests (94) (44) 294 513 RMB cents RMB cents Earnings per share - Basic 75.46 92.61 - Diluted 75.46 92.61 CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2024 30 June 2024 31 December 2023 (Unaudited) (Audited and restated) RMB million RMB million Non-current assets Property, plant and equipment 2,357 2,422 Right-of-use assets 458 380 Investment properties 47 60 Goodwill 320 325 Intangible assets 783 868 Interests in associates and joint ventures 43 43 Equity instruments at fair value through other comprehensive income 32 45 Financial assets at fair value through profit or loss 509 453 Loan receivables 12 12 Other receivables, prepayments and deposits 352 351 Deferred tax assets 151 433 5,064 5,392 Current assets Properties under development 70 70 Properties for sale 281 280 Inventories 269 405 Financial assets at fair value through profit or loss 124 38 Loan receivables 90 79 Trade receivables 745 702 Other receivables, prepayments and deposits 667 492 Tax recoverable 30 39 Pledged bank deposits 624 315 Bank deposits with original maturity over three months 215 329 Cash and cash equivalents 2,382 2,241 5,497 4,990 Current liabilities Trade and other payables 1,390 1,518 Contract liabilities 379 491 Lease liabilities 97 76 Provisions 110 127 Derivative financial instruments 37 107 Bank borrowings 1,318 1,033 Convertible and exchangeable bonds 274 256 Convertible note 375 357 Tax payable 72 80 4,052 4,045 Net current assets 1,445 945 Total assets less current liabilities 6,509 6,337 Non-current liabilities Other payables 35 37 Lease liabilities 110 45 Bank borrowings - 1 Deferred tax liabilities 84 80 229 163 Net assets 6,280 6,174 Capital and reserves Share capital 39 39 Share premium and reserves 6,075 5,856 Equity attributable to owners of the Company 6,114 5,895 Non-controlling interests 166 279 6,280 6,174 UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS Six months ended 30 June 2024 2023 (Unaudited) (Unaudited) RMB million RMB million Operating profit 634 699 Gain on disposal of intangible assets (51) - Amortisation of intangible assets arising on acquisitions of subsidiaries 36 30 Fair value change in investment properties 13 - Share-based payments expense 8 2 Reversal of impairment loss of intangible assets - (43) Write-down of inventories - 4 Non-GAAP operating profit 640 692 Profit attributable to owners of the Company 400 500 Fair value change on financial assets at fair value through profit or loss (77) (35) Fair value change on derivative financial instruments (53) (15) Gain on disposal of intangible assets (51) - Exchange (gain) loss on pledged bank deposits, financial assets at fair value through profit or loss, convertible and exchangeable bonds and derivative financial instruments (2) 30 Deferred tax 219 - Finance costs 71 122 Amortisation of intangible assets arising on acquisitions of subsidiaries 32 24 Fair value change in investment properties 13 - Share-based payments expense 6 2 Reversal of impairment loss of intangible assets - (43) Write-down of inventories - 4 Non-GAAP profit attributable to owners of the Company 558 589
HONG KONG, Aug. 29, 2024 /PRNewswire/ -- Innovative technology brand TECNO today announced its collaboration with Hasbro's TRANSFORMERS franchise. This exciting promotion will involve the release of a brand-new TRANSFORMERS Edition on TECNO SPARK 30 Series in September, reinforcing TECNO's commitment to delivering more impactful and personalized product experiences with vibrant and iconic design for Gen Z and modern young consumers. Through this collaboration, TECNO will channel iconic robots including Optimus Prime and Bumblebee, the heartbeat of the TRANSFORMERS universe, bringing best-in-class performance enhancements and design innovations through the upcoming SPARK Series to elevate the user's smartphone experience. The new TRANSFORMERS edition will feature iconic TRANSFORMERS elements on its exterior and UI design, while retaining the SPARK Series' exceptional seamless performance and robust durability. Jack Guo, General Manager of TECNO, said: "We are delighted to join forces with the powerhouse TRANSFORMERS franchise. This collaboration is a testament to TECNO's relentless pursuit of modern design and technological innovation, reflecting our continuous endeavors to forge strategic partnerships that resonate with the passions of young consumers worldwide in order to strengthen our bond with them." The TRANSFORMERS franchise has captured the hearts of millions around the world with visionary storytelling and characters that embody fearless courage, unwavering justice, and indomitable spirit. The franchise enjoys immense popularity and has a strong following amongst fans of all ages worldwide, and the overlap between TRANSFORMERS enthusiasts and TECNO's Gen Z and young user base finds a powerful synergy. The launch of the SPARK 30 series will be all the more memorable as it is timed in conjunction with the 40th anniversary of TRAMSFORMERS franchise, coinciding with the release of the new TRAMSFORMERS movie, TRANSFORMERS ONE. Consumers can anticipate a series of exciting and joint marketing initiatives to be rolled out after the official unveiling of the SPARK 30 series. "In working with TECNO, we are excited to bring the TRANSFORMERS franchise to new audiences in the form of an advanced and powerful new intelligent device. Promotions like this one allow us to explore new ways of engaging and inspiring both long-time and new fans of the TRANSFORMERS universe, especially as we celebrate its milestone 40th anniversary and the new global theatrical film, TRANSFORMERS ONE." said Matt Proulx, Senior Vice President, Global Experiences, Partnerships and Music at Hasbro. The TRANSFORMERS 's first fully CG-animated film, TRANSFORMERS ONE, will release on September 20, 2024. TRANSFORMERS ONE is the untold origin story of OPTIMUS PRIME and MEGATRON, better known as sworn enemies, but once were friends bonded like brothers who changed the fate of Cybertron forever. In the first-ever fully CG-animated TRANSFORMERS movie, TRANSFORMERS ONE features a star-studded voice cast, including Chris Hemsworth, Brian Tyree Henry, Scarlett Johansson, Keegan-Michael Key, Steve Buscemi with Laurence Fishburne, and Jon Hamm. The TECNO SPARK Series aspires to be the most compelling smartphone tailored for Gen Z and the younger generation across the industry. Already loved by over 80 million users worldwide, the SPARK series is distinguished by its iconic youthful, vibrant and trendy design, powerful overall performance and all-round camera capability, making it a favorite choice in its price bracket. More details of the TECNO SPARK 30 Series and TRANSFORMERS Edition's highlights and customized features will be released soon.
ESR will be at both IFA and ShowStoppers, showcasing its latest innovative and reliable charging solutions that unleash the full power of MagSafe BERLIN, Aug. 28, 2024 /PRNewswire/ -- ESR, an award-winning brand in tech accessories, is set to unveil its latest collection of Qi2 chargers at IFA 2024 in Berlin, Germany. ESR will also present its newest collection of accessories, including cases and screen protectors for new Apple devices. ESR continues to improve users' charging experiences by offering the coolest, fastest, and most reliable solutions at the best prices. ESR is showcasing its latest innovative and reliable charging solutions at IFA 2024 Always Innovating to Provide the Fastest MagSafe Charging As the No. 1 brand of MagSafe accessories in terms of sales on Amazon, ESR has expanded its offerings with a wide range of MagSafe-compatible products, including chargers, car chargers, wallets, power banks, phone cases, and AirPods cases across diverse categories and use cases. "We are always on the lookout for new opportunities," said Tim Wu, ESR's CEO. "ESR's commitment to continuously improve and innovate in the MagSafe space has led to its products being trusted and sought after by customers worldwide. To offer a more affordable alternative to MagSafe 15W fast charging, ESR launched a new line of Qi2 chargers in early 2024. Now, we're debuting Qi2 chargers with our 2nd-Gen CryoBoost tech with improved duct design for active cooling and faster-than-ever charging, ensuring our customers receive the coolest, fastest, most reliable, and most affordable MagSafe charging solutions." Experience the Power of Qi2 with CryoBoost ESR's new Qi2 chargers deliver the reliability and speed of official MagSafe chargers, augmented with their patented CryoBoost technology. Invented and patented by ESR, CryoBoost tackles one of wireless charging's biggest challenges: heat. ESR's CryoBoost technology features an advanced cooling fan with heat-dissipating components, ensuring that your phone stays cool and charges at maximum speed. With these innovations, ESR's Qi2 chargers can fully charge an iPhone 15 Pro Max in just 2 hours—at least 30 minutes faster than other Qi2 chargers and nearly as fast as Apple's MagSafe chargers, all at a more affordable price. The newest lineup includes two Qi2 + CryoBoost chargers: the ESR Qi2 3-in-1 Wireless Charging Station with CryoBoost (HaloLock) is a Qi2-certified multi-device charger with cooling air fan that delivers the fastest 15W charging speed available, while the ESR Qi2 Wireless Car Charger with CryoBoost (HaloLock) brings the fastest MagSafe charging to the road. In addition, ESR has added to its Qi2 family lineup the slimmest power bank on the market: the Qi2 MagSlim Kickstand Power Bank 5,000mAh. The charger offers 15W fast MagSafe charging for iPhone and is ultra-compact and slim, measuring just 15.5 mm thick—38% slimmer than competing models. Upgrade Your Protection for New Apple Devices ESR has introduced a new range of iPhone cases designed for ultimate protection and enhanced MagSafe functionality: Stash Stand Cases. These cases not only keep Apple's popular devices safe but also enhance users' everyday tech experience. The patented Classic Hybrid Case with Stash Stand (HaloLock) for the latest iPhone series features a 1.6mm ultra-thin back design that supports faster MagSafe charging while providing military-grade protection. With shock-absorbing Air Guard corners, it can withstand drops from heights up to 11 feet. The award-winning iPad Shift Magnetic Case transforms the iPad experience with its magnetic cover and detachable back, offering six versatile use modes for watching, FaceTiming, gaming, and more. For AirPods, the Cyber FlickLock Case boasts an innovative magnetic opening mechanism, allowing for effortless one-handed operation with its staggered alignment of magnets. Visit ESR at IFA 2024 ESR will be at ShowStoppers 6 p.m.–9 p.m. CET on September 5, at the South Entrance Hall and at Booth H3.2-303 Messe Berlin September 6–11. For more information on ESR's innovative products, visit Amazon or ESR's Official Site. The full press kit can be found Here. For more information on ESR, review sample requests, or additional assets, reach out to media@esrgear.com. About ESR Founded in 2009, and now with a user base of now over 100 million people worldwide, ESR is a leading brand of tech accessories. From cases that do more than protect, to wireless chargers that reimagine what's possible with MagSafe, we're on a mission to make tech easier to use. For more information about ESR, visit www.esrgear.com.
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