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SHANGHAI, Aug. 12, 2024 /PRNewswire/ -- Xiao-I Corporation ("Xiao-I" or the "Company") (NASDAQ: AIXI), a leading artificial intelligence company, is proud to announce the successful U.S. launch of its innovative Hearview Smart Glasses. The event, which was streamed live on YouTube on August 8th at 7:00 PM Eastern Time, marks a significant step forward in technology designed to assist those with hearing impairments. The Hearview Smart Glasses are a groundbreaking product that combines advanced auditory technology with intuitive design to offer users a more connected and accessible experience. By leveraging state-of-the-art AI, these glasses are poised to make a meaningful impact on the lives of the hearing impaired, providing a new level of engagement with their surroundings. "We are excited to introduce the Hearview Smart Glasses to the U.S. market," said Mr. Hui Yuan, CEO of Xiao-I Corporation. "This launch represents our commitment to creating innovative solutions that enhance the quality of life for individuals with hearing challenges." The event replay is available on the official Hearview YouTube channel at Watch the Replay. In conjunction with the launch, Xiao-I Corporation highlights a recent review of the Hearview Smart Glasses by a respected Key Opinion Leader (KOL) in the tech community. The review, accessible on YouTube at Review Video, offers a comprehensive analysis of the features and benefits that make Hearview a standout in the smart glasses market. About Xiao-I Corporation Xiao-I Corporation is a leading cognitive intelligence enterprise in China that offers a diverse range of business solutions and services in artificial intelligence, covering natural language processing, voice and image recognition, machine learning, and affective computing. Since its inception in 2001, the Company has developed an extensive portfolio of cognitive intelligence technologies that are highly suitable and have been applied to a wide variety of business cases. Xiao-I powers its cognitive intelligence products and services with its cutting-edge, proprietary AI technologies to enable and promote industrial digitization, intelligent upgrading, and transformation. For more information, please visit: www.xiaoi.com. Forward-Looking Statements This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's ability to achieve its goals and strategies, the Company's future business development and plans for future business development, including its financial conditions and results of operations, product and service demand and acceptance, reputation and brand, the impact of competition and pricing, changes in technology, government regulations, fluctuations in general economic and business conditions in China, and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the U.S. Securities and Exchange Commission ("SEC"). For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, including under the section entitled "Risk Factors" in its annual report on Form 20-F filed with the SEC on April 30, 2024, as well as its current reports on Form 6-K and other filings, all of which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. For investor and media inquiries, please contact:Ms. Berry XiaEmail: ir@xiaoi.com
SHANGHAI, Aug. 12, 2024 /PRNewswire/ -- GreenTree Hospitality Group Ltd. (NYSE: GHG) ("GreenTree" or the "Company"), a leading hospitality management group in China, today announced that it will report its unaudited financial results for the second quarter ended June 30, 2024, on Thursday August 15, 2024. GreenTree's management will hold an earnings conference call at 8:00 AM U.S. Eastern Time on August 15, 2024 (8:00 PM Beijing/Hong Kong Time on August 15, 2024). Dial-in numbers for the live conference call are as follows: International 1-412-902-4272 Mainland China 4001-201-203 US 1-888-346-8982 Hong Kong 800-905-945 or 852-3018-4992 Singapore 800-120-6157 Participants should ask to join the GreenTree call. A telephone replay of the conference call will be available after the conclusion of the live conference call until August 22, 2024. Dial-in numbers for the replay are as follows: International Dial-in 1-412-317-0088 U.S. Toll Free 1-877-344-7529 Canada Toll Free 855-669-9658 Passcode: 3399670 A live and archived webcast of the conference call will be available on the Company's investor relations website at http://ir.998.com. About GreenTree Hospitality Group Ltd. GreenTree Hospitality Group Ltd. ("GreenTree" or the "Company") (NYSE: GHG) is a leading hospitality management group in China. As of March 31, 2024, GreenTree had a total number of 4,256 hotels and 185 restaurants. In 2023, HOTELS magazine ranked GreenTree 11th among the 225 largest global hotel groups in terms of number of hotels in its annual HOTELS' 225. GreenTree was the fourth largest hospitality company in China in 2023 according to the China Hospitality Association. In 2023, GreenTree completed its acquisition of Da Niang Dumplings and Bellagio, two leading restaurant chain businesses in China. GreenTree has a broad portfolio of diverse brands spanning from the economy to mid-scale and up-scale segments of the hospitality industry mainly in China. Through its strong membership base, expansive booking network, superior system management with modest fees, and fully supported by its operating departments including Decoration, Engineering, Purchasing, Operation, IT and Finance, GreenTree aims to keep closer relationships with all its clients and partners by providing a diverse brand portfolio that features comfort, style and value. For more information on GreenTree, please visit http://ir.998.com GreenTreeMs. Selina YangPhone: +86-158-2166-6251E-mail: ir@998.com; cfo@998.com Mr. Maple MiaoPhone: +86-181-0184-0639E-mail: ir@998.com ChristensenIn ShanghaiMr. Jerry XuPhone: +86-138-1680-0706E-mail: Jerry.xu@christensencomms.com In Hong KongMs. Karen HuiPhone: +852-9266-4140E-mail: Karen.hui@christensencomms.com In USMs. Linda BergkampPhone: +1-480-614-3004Email: Linda.bergkamp@christensencomms.com
Advanced cloud-based initiatives help enhance spectator experience while helping with sustainability planning for future hosting citiesPARIS, FRANCE - Media OutReach Newswire – 12 August 2024 - Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, has harnessed the power of its cloud technologies to drive multiple initiatives throughout the Olympic Games Paris 2024 (Paris 2024). These efforts were made to empower media professionals in their coverage of the Games, while also elevating the engagement for worldwide sports fans through a range of innovative applications. "Alibaba plays an essential role when it comes to supporting technology during the Olympic Games, greatly increasing the efficiency and sustainability of Olympic Games operations. Our partnership also extends beyond the Olympic Games, with Alibaba playing a defining role in our Olympic AI Agenda, helping us harness the great potential of AI in a responsible way. All these examples highlight how Alibaba is the perfect partner when it comes to shaping our digital future," said Thomas Bach, President of International Olympic Committee (IOC). Enriching Media Asset Management with Deep-learning Archiving Solution Alibaba Cloud has collaborated with the International Olympic Committee (IOC) to launch a Media Archiving AI Solution. This cloud-based solution provides enhanced visual search functions, automatic categorization of multimedia content, and video highlight production through AI-powered media asset management services. The IOC Media Archiving AI solution marks a significant breakthrough in sports media archiving. The solution's automatic video highlight generation, powered by Alibaba Cloud's visual AI, identifies and compiles memorable moments in the games of boxing and archery during Paris 2024. This feature assists media professionals with their video storytelling, enriching the Games viewing experience for the global audience. Furthermore, Alibaba Cloud's proprietary AI algorithms streamline the indexing and categorization of the decades-old Olympic audiovisual and photo collections, making the Olympic Archive more searchable, and therefore, enhancing content discovery while optimizing the media asset management workflows. "We are thrilled to support the IOC's AI Agenda, which was inaugurated in April this year," said Selina Yuan, President of International Business, Alibaba Cloud Intelligence. "Our cloud-based AI initiatives are designed to help transform the experience for media professionals and the global followers of the Olympic Games. We remain committed to delivering our innovations that help make the Olympic Games more efficient, engaging, sustainable and inclusive for all stakeholders." Debut of Smart Virtual Boxing at the Alibaba Wonder Avenue At the Alibaba Wonder Avenue (AWA), Alibaba Cloud also debuted its Smart Virtual Boxing project. Alibaba Cloud's proprietary LLM Qwen was applied to enable analysis of the moves and performances of each player during the Virtual Boxing match, providing real-time commentary in both English and French of each player's approach and predicted their performance in the next round, thereby enriching the spectator experience. "Virtual sports are increasingly popular worldwide, enhancing accessibility and encouraging more diverse participation in sports," Yuan added. "We are committed to expanding the benefits driven by innovative technologies to both traditional sports and e-sports disciplines." Accentuating Key Games Moments with 360-Degree Slow Motion Replays During Paris 2024, Multi-Camera Replay Systems by OBS Cloud, a collaborative initiative between the Olympic Broadcasting Services (OBS) and Alibaba Cloud, provided 360-degree, frame-freeze slow-motion replays. Footage was sent to the cloud, where Alibaba Cloud's AI-driven computing capabilities enabled live spatial reconstruction and real-time 3D rendering before shared as replays, which facilitated a deeper understanding of pivotal game moments and were made available on OBS' Content+ platform for comprehensive media analysis to all Media Rights-Holders (MRHs). During Paris 2024, the systems had produced and delivered thousands of replay clips, covering a range of sports including basketball, gymnastics, tennis, beach volleyball and rugby sevens. The Multi-Camera Replay Systems is part of the newly-launched OBS Cloud 3.0, which was used as the main method to distribute remote content to support MRHs' Olympics broadcasting coverage, including the spectacular Opening Ceremony of Paris 2024 that attracts tens of millions of viewers worldwide. "Technologies like Alibaba Cloud's technologies help us tell the stories of the best athletes in the world, and also the stories of the world coming together in ways which are more exciting and more inspirational. Having partners like Alibaba that help us bring this dream to life are very valuable for us," said Yiannis Exarchos, CEO of OBS. Cloud Memento Enhances Spectator Engagement with Animated Videos To create more entertaining and engaging spectator experience, Alibaba Cloud unveiled Cloud Memento, an innovative tool that transforms participants' static images into immersive motion videos with the help of AI technology. Olympic fans had the opportunity to experience this transformative technology first-hand at three iconic venues: the Eiffel Tower Stadium, Champs De Mars Arena, and Invalides. Alibaba Cloud unveiled Cloud Memento at Paris 2024 In addition to cheering for their favourite athletes from the sidelines, spectators could take home a video of themselves performing sports from Olympic Games, such as archery, beach volleyball, judo and wrestling created by the latest intelligent cloud-based innovation through Cloud Memento. The videos also feature historic landmarks such as the Eiffel Tower using cloud-based smart technology converting 2D snapshots into dynamic animated videos, showcasing complex sports moves with remarkable consistency and continuity. Colorizing Century-old Olympic Archive Footage Alibaba Cloud helped restore and colorize Olympic archive footage from the Olympic Games Paris 1924, allowing contemporary audience to experience these iconic moments in enhanced viewing quality and vivid colors. Furthermore, Alibaba Cloud utilized its colorization technology to produce "To the Greatness of Her," an 8-minute short film highlighting the evolution of gender equality in sports. This film, featuring restored and colorized photographs of celebrated female athletes, was showcased at the Alibaba Evening in Paris. Sustainability Solution Supports Minimizing Power Wastage during Games In addition, Alibaba Cloud supported the IOC to deploy its data-driven sustainability solution – Energy Expert – to help measure and analyze the electricity consumption at the competition venues during Paris 2024. Based on the integrated cloud-based intelligence and the deep-learning based AI models from Alibaba Cloud, Energy Expert provided accurate analysis to produce venue specific forecasts and recommendations such as power demand optimization to minimize power wastage for future Games. Hashtag: #Alibaba #Paris2024The issuer is solely responsible for the content of this announcement.
DALIAN, China, Aug. 9, 2024 /PRNewswire/ -- CBAK Energy Technology, Inc. (NASDAQ: CBAT) ("CBAK Energy," or the "Company") a leading lithium-ion battery manufacturer and electric energy solution provider in China, today reported its unaudited financial results for the second quarter and the first half of 2024 ended June 30, 2024. First Half of 2024 Financial Highlights Net revenues from sales of batteries were $80.4 million, an increase of 55% from $51.8 million in the same period of 2023. - Net revenues from batteries used in light electric vehicles were $3.3 million, an increase of 7% from $3.1 million in the same period of 2023. - Net revenues from batteries used in electric vehicles were $0.7 million, a decrease of 65% from $2.0 million in the same period of 2023. - Net revenues from residential energy supply & uninterruptible supplies were $76.4 million, an increase of 63% from $46.8 million in the same period of 2023. Gross margin for the battery business was 39.0%, an increase of 26.2 percentage points from 12.8% in the same period of 2023. Net income from the battery business was $19.6 million, compared to net loss of $1.0 million in the same period of 2023. Yunfei Li, Chairman and Chief Executive Officer of the Company, commented, "We are thrilled to share with our shareholders and investors that we have achieved a remarkable 55% increase in net revenues from our battery business, reaching $80.4 million for the first half of the year. This significant growth is particularly notable given the broader industry challenges and declining sales volumes faced by our competitors. Our strategic pivot towards residential energy solutions and diverse energy storage applications has been a key driver of this success, with the bulk of our revenue increase coming from these sectors. Our major clients remain highly satisfied with the performance of our products and continue to show strong loyalty. We are confident that this exceptional sales momentum will continue to drive our success in the future." Jiewei Li, Chief Financial Officer and Secretary of the Board of the Company, added, "In addition to the remarkable surge in net revenues from our battery business, we are thrilled to report an impressive gross margin of 39% for the first half of the year. This outstanding performance not only highlights our efficiency but also places us ahead of all our competitors in battery manufacturing. Consequently, our net income from the battery sector has reached $19.6 million, surpassing the figures from the previous fiscal year. We are confident that our gross margin will remain robust due to high client satisfaction with our battery products, and we anticipate continued growth in net income in the upcoming quarters. Furthermore, we are engaged in discussions with several private equity investors regarding both our sodium and lithium battery segments. These investors are showing interest in contributing capital at a significantly higher valuation. We expect to finalize these transactions and deliver positive news to the market." Second Quarter of 2024 Business Highlights & Recent Developments In June, CBAK Energy announced that its subsidiary, CBAK Power, had secured an order valued at almost USD7.0 million from a Renowned European Client. In June, CBAK Energy unveiled a significant advancement in fast-charging technology with the enhanced model 32140 battery, achieving a full charge in just 35 minutes. Second Quarter of 2024 Financial Results Net revenues[1] were $47.8 million, representing an increase of 13% compared to $42.4 million in the same period of 2023. This increase was primarily attributable to an increase in revenue from the Company's battery business. Among these revenues, detailed revenues from our battery business are: Battery Business 2023 Second Quarter 2024Second Quarter % ChangeYoY Net Revenues ($) 22,232,003 35,598,124 60 Gross Profits ($) 3,425,147 12,912,293 276 Gross Margin 15.4 % 36.3 % - Net (Loss) Income ($) (1,126,224) 7,892,641 - Net Revenues from Battery Business on Applications ($) Electric Vehicles 135,731 199,258 46 Light Electric Vehicles 1,147,902 1,825,501 59 Residential Energy Supply & Uninterruptable supplies 20,948,370 33,573,365 60 Total 22,232,003 35,598,124 60 [1] Net revenues consist of the Company's self-operated battery business and Hitrans, which was acquired in 2021, an independently managed raw materials business. Cost of revenues was $35.1 million, representing a slightly decrease of 9% from $38.5 million in the same period of 2023. The decrease in the cost of revenues corresponds to the Company's higher gross profit from the battery business. Gross profit was $12.7 million, representing an increase of 227% from $3.9 million in the same period of 2023. Gross margin was 26.6%, compared to 9.2% in the same period of 2023. Total operating expenses were $6.8 million, representing a decrease of 12% from $7.7 million in the same period of 2023. Research and development expenses was $3.0 million for the three months ended June 30, 2024 and 2023. Sales and marketing expenses were $1.4 million, an increase of 42% from $1.0 million in the same period of 2023. General and administrative expenses were $3.1 million, a slightly decrease of 14% from $3.6 million in the same period of 2023. Recover of doubtful accounts was $0.67 million, compared to a provision of doubtful accounts of $0.13 million in the same period of 2023. Operating income amounted to $5.9 million, compared to an operating loss of $3.8 million in the same period of 2023. Finance income, net amounted to $0.7, compared to $0.3 million in the same period of 2023. Change in fair value of warrants was nil, compared to $0.04 million in the same period of 2023. Net income attributable to shareholders of CBAK Energy was $6.45 million, compared to net loss attributable to shareholders of CBAK Energy of $2.6 million in the same period of 2023. Net income attributable to shareholders of CBAK Energy (after deducting the change in fair value of warrants) was $6.45 million, compared to a net loss of $2.7 million in the same period of 2023, mainly due to the strong performance of our battery business. Basic and diluted income per share were both $0.07, compared to basic and diluted loss per share of $0.03 in 2023. First Half of 2024 Financial Results Net revenues[1] were $106.6 million, representing an increase of 26% compared to $84.8 million in the same period of 2023. This increase was primarily attributable to an increase in revenue from the Company's battery business. Among these revenues, detailed revenues from our battery business are: Battery Business 2023 First Half 2024First Half % ChangeYoY Net Revenues ($) 51,835,386 80,435,993 55 Gross Profits ($) 6,638,505 31,375,815 372 Gross Margin 12.8 % 39.0 % - Net (Loss) Income ($) (1,017,300) 19,575,070 - Net Revenues from Battery Business on Applications ($) Electric Vehicles 1,955,979 679,439 -65 Light Electric Vehicles 3,115,959 3,335,793 7 Residential Energy Supply & Uninterruptable supplies 46,763,448 76,420,761 63 Total 51,835,386 80,435,993 55 [1] Net revenues consist of the Company's self-operated battery business and Hitrans, which was acquired in 2021, an independently managed raw materials business. Cost of revenues was $75.0 million, representing a slightly decrease of 4% from $78.0 million in the same period of 2023. The increase in the cost of revenues corresponds to the Company's higher gross profit from the battery business. Gross profit was $31.5 million, representing an increase of 22% from $6.8 million in the same period of 2023. Gross margin was 29.5%, compared to 8.0% in the same period of 2023. Total operating expenses were $15.3 million, representing an increase of 14% from $13.4 million in the same period of 2023. Research and development expenses were $5.8 million, an increase of 6% from $5.4 million in the same period of 2023. Sales and marketing expenses were $3.1 million, an increase of 8.4% from $1.7 million in the same period of 2023. General and administrative expenses were $7.2 million, an increase of 19% from $6.1 million in the same period of 2023. Recover of doubtful accounts was $0.8 million, compared to a provision of doubtful accounts of $0.26 million in the same period of 2023. Operating income amounted to $16.2 million, compared to an operating loss of $6.7 million in the same period of 2023. Finance income, net amounted to $0.7, compared to $0.3 million in the same period of 2023. Change in fair value of warrants was nil, compared to $0.12 million in the same period of 2023. Net income attributable to shareholders of CBAK Energy was $16.3 million, compared to net loss attributable to shareholders of CBAK Energy of $4.0 million in the same period of 2023. Net income attributable to shareholders of CBAK Energy (after deducting the change in fair value of warrants) was $16.3 million, compared to a net loss of $4.1 million in the same period of 2023, mainly due to the strong performance of our battery business. Basic and diluted income per share were both $0.18, compared to basic and diluted loss per share of $0.05 in 2023. Conference Call CBAK Energy's management will host an earnings conference call at 8:00 AM U.S. Eastern Time on Friday, August 9, 2024 (8:00 PM Beijing/Hong Kong Time on August 9, 2024). For participants who wish to join our call online, please visit: https://edge.media-server.com/mmc/p/etm9tt44 Participants who plan to ask questions during the call will need to register at least 15 minutes prior to the scheduled call start time using the link provided below. Upon registration, participants will receive the conference call access information, including dial-in numbers, a unique pin, and an email with detailed instructions. Participant Online Registration: https://register.vevent.com/register/BI88cb5143d85b4257ac2ba1e1f0e4d8e2 Once completing the registration, please dial-in at least 10 minutes before the scheduled start time of the conference call and enter the personal pin as instructed to connect to the call. A replay of the conference call may be accessed within seven days after the conclusion of the live call at the following website: https://edge.media-server.com/mmc/p/etm9tt44 The earnings release and the link for the replay are available at ir.cbak.com.cn. About CBAK Energy CBAK Energy Technology, Inc. (NASDAQ: CBAT) is a leading high-tech enterprise in China engaged in the development, manufacturing, and sales of new energy high power lithium and sodium batteries, as well as the production of raw materials for use in manufacturing high power lithium batteries. The applications of the Company's products and solutions include electric vehicles, light electric vehicles, energy storage and other high-power applications. In January 2006, CBAK Energy became the first lithium battery manufacturer in China listed on the Nasdaq Stock Market. CBAK Energy has multiple operating subsidiaries in Dalian, Nanjing, Shaoxing and Shangqiu, as well as a large-scale R&D and production base in Dalian. For more information, please visit ir.cbak.com.cn. Safe Harbor Statement This press release contains "forward-looking statements" that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, strategy and plans, and our expectations for future operations, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. We have attempted to identify forward-looking statements by terminology including "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "should," or "will" or the negative of these terms or other comparable terminology. Our actual results may differ materially or perhaps significantly from those discussed herein, or implied by, these forward-looking statements. Any forward-looking statements contained in this press release are only estimates or predictions of future events based on information currently available to our management and management's current beliefs about the potential outcome of future events. Whether these future events will occur as management anticipates, whether we will achieve our business objectives, and whether our revenues, operating results, or financial condition will improve in future periods are subject to numerous risks. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: significant legal and operational risks associated with having substantially all of our business operations in China, that the Chinese government may exercise significant oversight and discretion over the conduct of our business and may intervene in or influence our operations at any time, which could result in a material change in our operations and/or the value of our securities or could significantly limit or completely hinder our ability to offer or continue to offer securities to investors and could cause the value of such securities to significantly decline or be worthless, the effects of the global Covid-19 pandemic or other health epidemics, changes in domestic and foreign laws, regulations and taxes, the volatility of the securities markets; and other risks including, but not limited to, the ability of the Company to meet its contractual obligations, the uncertain markets for the Company's products and business, macroeconomic, technological, regulatory, or other factors affecting the profitability of our products and solutions that we discussed or referred to in the Company's disclosure documents filed with the U.S. Securities and Exchange Commission (the "SEC") available on the SEC's website at www.sec.gov, including the Company's most recent Annual Report on Form 10-K as well as in our other reports filed or furnished from time to time with the SEC. You should read these factors and the other cautionary statements made in this press release. If one or more of these factors materialize, or if any underlying assumptions prove incorrect, our actual results, performance or achievements may vary materially from any future results, performance or achievements expressed or implied by these forward-looking statements. The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law. For further inquiries, please contact: In China: CBAK Energy Technology, Inc.Investor Relations DepartmentPhone: +86-18675423231Email: ir@cbak.com.cn CBAK Energy Technology, Inc. and Subsidiaries Condensed consolidated Balance Sheets As of December 31, 2023 and June 30, 2024 (Unaudited) (In US$ except for number of shares) December 31,2023 June 30,2024 (Unaudited) Assets Current assets Cash and cash equivalents $ 4,643,267 $ 9,709,059 Pledged deposits 54,179,549 10,418,508 Short-term deposits - 34,342,812 Trade and bills receivable, net 28,653,047 32,710,720 Inventories 33,413,422 31,226,831 Prepayments and other receivables 7,459,254 5,017,982 Receivables from a former subsidiary, net 74,946 12,620 Total current assets 128,423,485 123,438,532 Property, plant and equipment, net 91,628,832 86,966,492 Construction in progress 37,797,862 36,086,788 Long-term investments, net 2,565,005 2,256,386 Prepaid land use rights 11,712,704 11,281,490 Intangible assets, net 841,360 599,350 Deposit paid for acquisition of long-term investments 7,101,492 15,934,172 Operating lease right-of-use assets, net 1,084,520 3,053,819 Total assets $ 281,155,260 $ 279,617,029 Liabilities Current liabilities Trade and bills payable $ 82,429,575 $ 71,644,150 Short-term bank borrowings 32,587,676 35,077,469 Other short-term loans 339,552 338,623 Accrued expenses and other payables 41,992,540 33,431,784 Payables to a former subsidiary, net 411,111 418,499 Deferred government grants, current 375,375 482,714 Product warranty provisions 23,870 17,888 Operating lease liability, current 691,992 994,562 Finance lease liability, current 1,643,864 1,424,535 Income tax payable - 798,715 Total current liabilities 160,495,555 144,628,939 Deferred government grants, non-current 6,203,488 5,700,353 Product warranty provisions 522,574 434,724 Operating lease liability, non-current 475,302 2,326,064 Total liabilities 167,696,919 153,090,080 Commitments and contingencies Shareholders' equity Common stock $0.001 par value; 500,000,000 authorized; 90,063,396 issued and 89,919,190 outstanding as of December 31, 2023 and 90,083,396 issued and 89,939,190 outstanding as of June 30, 2024 90,063 90,083 Donated shares 14,101,689 14,101,689 Additional paid-in capital 247,465,817 247,674,563 Statutory reserves 1,230,511 1,230,511 Accumulated deficit (134,395,762) (118,113,850) Accumulated other comprehensive loss (11,601,403) (14,326,079) 116,890,915 130,656,917 Less: Treasury shares (4,066,610) (4,066,610) Total shareholders' equity 112,824,305 126,590,307 Non-controlling interests 634,036 (63,358) Total equity 113,458,341 126,526,949 Total liabilities and shareholder's equity $ 281,155,260 $ 279,617,029 CBAK Energy Technology, Inc. and Subsidiaries Condensed consolidated Statements of Operations and Comprehensive Income (Loss) For the three and six months ended June 30, 2023 and 2024 (Unaudited) (In US$ except for number of shares) Three months endedJune 30, Six months ended June 30, 2023 2024 2023 2024 Net revenues $ 42,420,870 $ 47,793,045 $ 84,817,571 $ 106,615,477 Cost of revenues (38,536,228) (35,065,019) (78,027,185) (75,106,404) Gross profit 3,884,642 12,728,026 6,790,386 31,509,073 Operating expenses: Research and development expenses (2,980,718) (2,955,509) (5,436,046) (5,771,027) Sales and marketing expenses (963,588) (1,368,373) (1,684,592) (3,092,405) General and administrative expenses (3,582,893) (3,129,994) (6,062,028) (7,222,521) Recovery of (provision for) doubtful accounts (130,493) 673,330 (261,660) 787,343 Total operating expenses (7,657,692) (6,780,546) (13,444,326) (15,298,610) Operating income (loss) (3,773,050) 5,947,480 (6,653,940) 16,210,463 Finance (expenses) income, net 252,472 688,721 257,783 698,384 Other income, net 238,040 141,975 421,253 509,413 Share of loss of equity investee - 18,824 - - Gain on disposal of equity investee - 26,912 - 26,912 Change in fair value of warrants 36,000 - 121,000 - Income before income tax (3,246,538) 6,823,912 (5,853,904) 17,445,172 Income tax credit (expenses) 307,311 (800,727) 710,195 (1,849,513) Net income (loss) (2,939,227) 6,023,185 (5,143,709) $ 15,595,659 Less: Net (income) loss attributable to non-controlling interest 304,237 422,277 1,128,364 686,253 Net income (loss) attributable to CBAK Energy Technology, Inc. $ (2,634,990) $ 6,445,462 $ (4,015,345) $ 16,281,912 Net income (loss) (2,939,227) 6,023,185 (5,143,709) 15,595,659 Other comprehensive loss – Foreign currency translation adjustment (6,639,109) (829,769) (5,890,330) (2,735,817) Comprehensive (loss) income (9,578,336) 5,193,416 (11,034,039) 12,859,842 Less: Comprehensive (loss) income attributable to non-controlling interest 643,620 423,171 1,373,641 697,394 Comprehensive (loss) income attributable to CBAK Energy Technology, Inc. $ (8,934,716) $ 5,616,587 $ (9,660,398) $ 13,557,236 Income (loss) per share – Basic $ (0.03)* $ 0.07 $ (0.05) $ 0.18 – Diluted $ (0.03)* $ 0.07 $ (0.05) $ 0.18 Weighted average number of shares of common stock: – Basic 89,029,399 89,931,617 89,021,424 89,931,727 – Diluted 89,029,399 90,111,613 89,021,424 90,289,544
BEIJING, Aug. 9, 2024 /PRNewswire/ -- Zhihu Inc. (NYSE: ZH; HKEX: 2390) ("Zhihu" or the "Company"), a leading online content community in China, today announced that it will report its unaudited financial results for the quarter ended June 30, 2024 after the U.S. market closes on August 22, 2024. The Company's management will host a conference call at 8:00 P.M. U.S. Eastern Time on Thursday, August 22, 2024 (8:00 A.M. Beijing/Hong Kong Time on Friday, August 23, 2024) to discuss the results. All participants wishing to join the conference call must pre-register online using the link provided below. Once the pre-registration has been completed, each participant will receive a set of dial-in numbers, a passcode, and a unique registrant ID which can be used to join the conference call. Participants may pre-register at any time, including up to and after the call start time. Registration Link: https://dpregister.com/sreg/10191716/fd413a8bd8 Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at https://ir.zhihu.com. A replay of the conference call will be accessible approximately one hour after the conclusion of the live call, until August 29, 2024, by dialing the following telephone numbers: United States (toll free): +1-877-344-7529 International: +1-412-317-0088 Replay Access Code: 4215305 About Zhihu Inc. Zhihu Inc. (NYSE: ZH; HKEX: 2390) is a leading online content community in China where people come to find solutions, make decisions, seek inspiration, and have fun. Since the initial launch in 2010, we have grown from a Q&A community into one of the top comprehensive online content communities and the largest Q&A-inspired online content community in China. For more information, please visit https://ir.zhihu.com. For investor and media inquiries, please contact: In China: Zhihu Inc.Email: ir@zhihu.com Piacente Financial CommunicationsHelen WuTel: +86-10-6508-0677Email: zhihu@tpg-ir.com In the United States: Piacente Financial CommunicationsBrandi PiacentePhone: +1-212-481-2050Email: zhihu@tpg-ir.com
GUANGZHOU, China, Aug. 9, 2024 /PRNewswire/ -- MINISO Group Holding Limited (NYSE: MNSO; HKEX: 9896) ("MINISO", "MINISO Group" or the "Company"), a global value retailer offering a variety of trendy lifestyle products featuring IP design, today announced that it plans to release its 2024 June quarter and interim results before the U.S. market opens on Friday, August 30, 2024. The Company's management will hold an earnings conference call at 5:00 A.M. Eastern Time on Friday, August 30, 2024 (5:00 P.M. Beijing Time on the same day) to discuss the financial results. The conference call can be accessed by the following Zoom link or dialing the following numbers: Access 1 Join Zoom meeting. Zoom link: https://zoom.us/j/95898852484?pwd=tBbbJPUtyGu20f1OCy4sxYDNBAGy72.1Meeting Number: 958 9885 2484Meeting Passcode: 9896 Access 2 Listeners may access the call by dialing the following numbers by using the same meeting number and passcode with access 1. United States: +1 689 278 1000 (or +1 719 359 4580) Hong Kong, China: +852 5803 3730 (or +852 5803 3731) United Kingdom: +44 203 481 5237 (or +44 131 460 1196) France: +33 1 7037 9729 (or +33 1 7037 2246) Singapore: +65 3158 7288 (or +65 3165 1065) Canada: +1 438 809 7799 (or +1 204 272 7920) Access 3 Listeners can also access the meeting through the Company's investor relations website at https://ir.miniso.com/. The replay will be available approximately two hours after the conclusion of the live event at the Company's investor relations website at https://ir.miniso.com/. About MINISO GroupMINISO Group is a global value retailer offering a variety of trendy lifestyle products featuring IP design. The Company serves consumers primarily through its large network of MINISO stores, and promotes a relaxing, treasure-hunting and engaging shopping experience full of delightful surprises that appeals to all demographics. Aesthetically pleasing design, quality and affordability are at the core of every product in MINISO's wide product portfolio, and the Company continually and frequently rolls out products with these qualities. Since the opening of its first store in China in 2013, the Company has built its flagship brand "MINISO" as a globally recognized retail brand and established a massive store network worldwide. For more information, please visit https://ir.miniso.com/. Investor Relations ContactRaine HuMINISO Group Holding LimitedEmail: ir@miniso.comPhone: +86 (20) 36228788 Ext.8039
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