Monthly Archives: July 2020

PR Newswire

Level 10 releases UPstage180 Hi-Fi Speaker to Help Customers Relieve Stress

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RENO, Nev., July 24, 2020 Level 10, in collaboration with Soundmatters®, announced the release of the new UPstage180, a Bluetooth speaker combined Hi-Fi sound, the ambient feature with relaxing sound and soothing light to bring listeners a novel audio experience. The true-to-life nature sounds are blended with selected frequencies to strengthen the resonance of soundwave between the music and the body, which helps listeners concentrate and focus, fall asleep faster, and stay calm for meditation. The project has reached its Kickstarter goal of US$20,000 in 9 hours, and it’s now available from US$315 with early bird deals (retails for $549): https://backme.tw/ref/2GmQj

“Many of us face the challenge of lockdown, working at home for months due to the pandemic influence. Even under normal circumstances, completely switching off from work isn’t always easy. We felt personal wellness has never been more important, and we wanted to build a product to remind people to give themselves some time away from stress and feel and immerse in the music they love. It’s a speaker created to stay in your everyday life,” said Emma Yu, a core member of Level 10 and CEO of Soundmatters®.

UPstage180 is designed to make listeners relax and “feel” the music better. The mood feature, easily controllable via the proprietary app, comes with built-in nature sound such as forest, rain, and deep sea. Listeners can blend them in the music or enjoy the ambience effect alone. The audio experience is further enhanced with an integrated a soothing light design, which turns the speaker into a small ambient LED table/ wall-mount lamp. Unlike most LED lamps which could be harsh and fatigue the eyes easily, UPstage180 adopts the LED bulbs with low-color temperature so the light is warm and comfortable, resembling the natural sunlight. Besides the app, the light settings are adjustable from the touch bar on the side and choose from 3 light modes, eternal, breathing, and flicker, to go with the mood selected.

UPstage180’s unique acoustic design enables it to reach 92dB loudness capabilities and 60 to 20,000 Hz frequency response at the size of a toast bread slice, while it usually requires a speaker 4 times larger to achieve the same performance. To achieve the specs at an ultra-compact size, it’s first speaker in the world using a Flat Glass Woofer and Linear Magnetic Drive “twoofer” made of carbon fiber. The components allow it to generate sufficient energy in a small chamber and project sound evenly in a 180° soundstage and creates a room-filled listening “sweet zone”. Wherever they are, listeners will always hear the same authentic, hi-fi sound.

Technical Specs:

  • 2 x Twoofer 25 full range speaker + 1 Mid-Woofer Glass speaker
  • 2.1 way. Active Speaker
  • 60 to 20,000 Hz Frequency Response
  • 92 dB Sound Pressure Level
  • Aux-in, TWS Bluetooth 5.0 Streaming
  • 45 watts per bass + 15 watts per channel for Twoofer
  • Adjustable LED light guide plate with 12V 3500k dimmable
  • 180mm (7.09 inch) x 180mm (7.09 inch) x 34mm (1.33 inch)
  • 1.6 kg (3.53 lbs) net weight

The UPstage180 retails for US$549. For more information, visit https://backme.tw/ref/2GmQj. UPstage180 is expected to ship in October, 2020.

Media Assets

High-res images: https://drive.google.com/drive/folders/1qNZ4jA8dRGpNW0TzMAEQNuekOenzgCaK?usp=sharing

Video: https://www.youtube.com/watch?v=FDh37JApcNE

Kickstarter: https://backme.tw/ref/2GmQj

Media Contact

Charlotte Chen/ charlotte@backer-founder.com/ +886-2-2587-5252

PR Newswire

Go-Yunnan launches on Twitter, Facebook and YouTube

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KUNMING, China, July 24, 2020 — On July 20, 2020, Go-Yunnan formally established a presence on the world’s three key social networks, Twitter, Facebook and YouTube, finalizing the integration of a number of services and features and providing a venue where anyone interested in visiting or touring Yunnan can gain a better perspective on what the province in southwestern China has to offer. The platform also provides real-time updates and sharing of information on cultural exchanges as well as other activities and events taking place across the province.

 

The Go-Yunnan platform is designed to provide localized tourism services to travelers from abroad before, during and following their visit. 

The Go-Yunnan platform features both a downloadable app as well as a website. The app is segmented into modules for Destination, Guide, Explore, Me, Lives, Translator and More. In the Destination module, the interested visitor can find information on 411 places of interest in 16 prefectures and cities across the province, The Lives modules comes loaded with live streaming of 1,400 Yunnan’s most captivating locales. Together with Itineraries, Essentials, Transport and Weather, those characteristic functions are aiming at assisting the prospective travelers in pre-trip planning. In addition to the Translator, Exchange and other practical features, the Guide module provides route recommendations alongside spoken guided tours for some of the more popular attractions. All in all, the app is expected to make the prospective visit all the more rewarding for overseas visitors. Most appealing for all travelers from abroad, the app comes with a one-click Complaint button that can be accessed during the course of the journey or stay within the province in the event of finding oneself lost or in a confusing situation or needing to file a complaint due to bad service. The Go-Yunnan website, an extension to the app, acts as an international information platform for anyone planning a visit to the province.

https://www.ybsjyyn.com/en/
https://play.google.com/store/apps/details?id=com.tengyun.intl.yyn
https://apps.apple.com/app/id1484293598

As one of the most practical features, the Exchange function provides immediate exchange rate conversion between the yuan and 14 commonly used currencies, making it easy for travelers to understand what everything costs. The Essentials module lists practical information including the contact and location information of the nearest consulates, as well as current and updated information on visas, time zones, climate, money, water, electrical current adaptors and safety, assuring stress-free preparation for a smooth and enjoyable journey for anyone planning to spend time in Yunnan.

In the latest version update, the Transport function added train and bus time query feature with more than 100 train and 1000 bus lines within Yunnan Province. The Festivals and Activities section gives you a glimpse of Yunnan’s colorful ethnic culture through 18 activities of 20 related ethnic groups.

Follow the Go-Yunnan social platform Twitter, YouTube, Facebook to learn more about and gain access to real time travel information on Yunnan province.

 
PR Newswire

Baidu App Announces Launch of Naming Selection Campaign for China’s First Mars Rover

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Baidu App is the host for the rover’s name selection process, as well as for innovative multimedia content about the Tianwen-1 Mars mission

BEIJING, July 24, 2020 — Baidu App, the flagship mobile platform of Baidu Inc. (NASDAQ: BIDU), today kicked off the official naming selection process for China’s first Mars rover, which was launched into space yesterday from Wenchang, Hainan province, as part of the Tianwen-1 Mars exploration mission. As the exclusive partner for the rover’s naming campaign, Baidu App will leverage its expansive user base to allow netizens to contribute to the selection of the rover’s name and view interactive content about the mission.

Baidu has the largest information and knowledge-centered mobile ecosystem in China, said Foyu Yuan, Corporate Vice President of Baidu, which will allow Baidu to attract netizens at home and abroad to participate in the naming of China’s first Mars rover. She added that Baidu will use this campaign to tell stories about space exploration from multiple angles.

Baidu App is hosting the naming selection process for the rover on a designated Smart Mini Program. The campaign was launched today at a press conference held in Wenchang with the Lunar Exploration and Space Program Center of the China National Space Administration (CNSA), and was attended by the center’s deputy director Tongjie Liu. Including a lander, rover, and orbiter, Tianwen-1 is China’s first solo exploration mission to Mars and represents a historic moment both for China’s space program and humanity’s understanding of Mars. Tianwen means “Questions to Heaven” and comes from a poem by Yuan Qu, one of the greatest poets of ancient China who lived from around 340 to 278 BCE.

In the first stage of the naming campaign, users are invited to submit their ideas before the deadline on August 12. Users can search “Mars rover” or “Mars rover naming selection” on Baidu App to enter the submission page. Industry experts and the public will then narrow down the top ideas. With 500 million monthly active users (MAUs), Baidu App’s Smart Mini Programs are a core pillar of the company’s mobile strategy, as they connect users to a wide range of information and services through native app-like experiences.

In a video to mark the start of the naming campaign, astronauts Zhigang Zhai, Yang Liu, and Yaping Wang paid tribute to China’s first mission to Mars. In addition, notable figures including Chinese martial artist Jackie Chan, Chinese pianist Lang Lang, and Baidu’s Executive Vice President Dou Shen all provided name ideas for the Mars rover. Xiaodu, Baidu’s conversational AI assistant, even submitted an AI-generated idea, “Zhuque” (Vermillion Bird), a Chinese mythical bird.

In addition to serving as the exclusive partner for the naming process of the Mars rover, Baidu App will offer a range of interactive content and activities about the Tianwen-1 mission to promote scientific knowledge about space exploration. For example, users can search “Mars rover” and view a 3D structure of the vehicle. Baidu App will also host an “AI Mars office” and “Mars post office” so users can virtually experience the environment on Mars. These efforts aim to encourage more netizens to learn about the historic Mars mission. According to Baidu search data, requests for information about the Tianwen-1 mission increased 1,560% within the hour of its successful launch.

The new partnership builds on existing cooperation between Baidu App and CNSA’s Lunar Exploration and Space Program Center. Recently, Baidu App worked with the Mars mission to host a livestream program where scientists shared authoritative knowledge about outer space. Leveraging its AI expertise, strengths as a knowledge platform, and more than 230 million daily active users (DAUs), Baidu App is proud to be an exclusive partner of China’s first Mars mission to inform netizens about this historic moment in China’s space exploration.

About Baidu

Baidu, Inc. is a leading search engine, knowledge and information centered Internet platform and AI company. The Company’s mission is to make the complicated world simpler through technology. Baidu’s ADSs trade on the NASDAQ Global Select Market under the symbol “BIDU”. Currently, ten ADSs represent one Class A ordinary share.

PR Newswire

ReneSola Power Secures US$12 Million Bridge Financing

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STAMFORD, Conn., July 24, 2020 — ReneSola Ltd (NYSE: SOL) (“ReneSola Power” or the “Company”), a leading fully-integrated solar project developer today announced that it successfully closed a bridge financing with Eiffel Energy Transition Fund to finance the construction of ReneSola Power’s 19 MW solar projects in Poland.

 

This new facility provides an injection of 10.64 million euros (US$12.1 million) of new capital.  It is the second bridge financing that Eiffel Energy Transition Fund has provided to ReneSola Power to support its project development and execution efforts in Poland and Hungary.

Mr. Yumin Liu, ReneSola Power Chief Executive Officer, commented, “We are excited to once again partner with Eiffel Energy Transition Fund. This new facility demonstrates their confidence in our ability to successfully develop and build projects in various target markets.  Despite ongoing challenging macro conditions related to COVID-19, we have begun construction of the 19 MW solar projects in Poland.  We are very pleased with our progress, and look forward to further supporting solar deployment in the years ahead.”

Mr. Pierre-Antoine Machelon, fund manager of Eiffel Energy Transition, said, “We are very pleased to build on our initial partnership with ReneSola Power to help expedite growth in the Polish market, and contribute to the acceleration of the renewable energy transition across the region. The strong engagement of ReneSola Power, coupled with the quality of the processes being put in place locally, were key in the selection of these projects.”

Mr. Josef Kastner, CEO of ReneSola Power Europe, commented, “We have successfully developed solar projects in Poland and have sold over 81 MW of projects in the last four years.  Poland remains a key market for ReneSola Power, and we are committed to our strategy to further expand our business and become a major player in Poland and other European markets.”

About ReneSola Power

ReneSola Power (NYSE: SOL) is a leading global solar project developer and operator. The Company focuses on solar power project development, construction management and project financing services. With local professional teams in more than 10 countries around the world, the business is spread across a number of regions where the solar power project markets are growing rapidly, and can sustain that growth due to improved clarity around government policies. The Company’s strategy is to pursue high-margin project development opportunities in these profitable and growing markets; specifically, in the U.S. and Europe, where the Company has a market-leading position in several geographies, including Poland, Hungary, Minnesota and New York.

About Eiffel Energy Transition

Eiffel Energy Transition Fund S.L.P. is a specialized €350m fund reserved for professional investors. It provides flexible bridge financing for renewable energy and energy efficiency projects across Europe. The fund has already financed over 1,000 projects, representing more than 1GW of green energy capacity. Eiffel Energy Transition is managed by Eiffel Investment Group and is sponsored by the European Investment Bank, the French environmental agency (ADEME) as well as mutual insurance companies and first rank banks.

About Eiffel Investment Group

Eiffel Investment Group is an asset management firm and a leader in business financing. The group addresses the funding needs of European SMEs and midcaps across their entire capital structure: credit (liquid credit, private debt), equity (listed shares, private equity, convertible bonds). Eiffel Investment Group manages more than 2 billion euros for major European institutional investors and 25,000 private clients.

 

Related Links :

http://www.renesolapower.com

PR Newswire

China Finance Online Reports 2020 First Quarter Unaudited Financial Results

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BEIJING, July 24, 2020 — China Finance Online Co. Limited (“China Finance Online”, or the “Company”, “we”, “us” or “our”) (NASDAQ GS: JRJC), a leading web-based financial services company that provides Chinese retail investors with fintech-powered online access to securities trading services, wealth management products, securities investment advisory services, as well as financial database and analytics services to institutional customers, today announced its unaudited financial results for the first quarter ended March 31, 2020.

First Quarter 2020 Financial Highlights and Recent Development
 

  • Net revenues were $9.8 million, compared with $9.9 million during the first quarter of 2019 and $8.7 million during the fourth quarter of 2019.
     
  • Revenues from the financial information and advisory business were $3.5 million, compared with $3.2 million during the first quarter of 2019 and $2.2 million in the fourth quarter of 2019.
  • The bottom line losses continued to narrow. Net loss attributable to China Finance Online was $1.9 million, compared with a net loss of $2.8 million in the first quarter of 2019 and a net loss of $3.4 million in the fourth quarter of 2019.
     
  • The moderate strategy of Lingxi Robo-Advisor (“Lingxi”), with a return of 2.8% and a drawdown rate of 0.03% in the first quarter, outperformed a loss of 10.35% and a drawdown rate of 14.62% in the Shanghai Composite Index.
     
  • China Finance Online signed a partnership agreement with Dow Jones to join forces to serve the large financial information and data market in China.

Mr. Zhiwei Zhao, Chairman and CEO of China Finance Online, commented, ” during the first quarter of 2020, the COVID-19 pandemic caused a devastating blow to the Chinese economy and created unprecedented uncertainties for the global economy. The stock markets around the world experienced massive selloffs and unusual volatility. As a result, our institutional business was negatively impacted as some institutions scaled down or postponed their advertising placements and our business development activities were limited by the lockdowns and travel restrictions. However, our financial results of stable revenue and reduced loss in the first quarter demonstrated the resilience of our diversified offerings and the further improvement of cost controls while we weathered the storm and extended our leadership in online user engagement.”

“Our ability to navigate through the challenging first quarter amid the downturn of the Shanghai stock market is mainly attributable to the outstanding performance of the investment advisory services. Over the decade, we’ve dedicated ourselves to better understanding the behaviors of mass retail investors. We strongly believe that, as the Chinese stock market continues to mature, more and more retail investors would willingly seek professional advices, and the transition from simple trading transactions to sophisticated wealth management programs will present more opportunities for professional financial service providers, including us.”

“The growth of wealth management business also benefited from the fintech wealth management empowerment system that we’ve developed over the years. Now, we are introducing this system to institutions. Along with the secular trend that drives financial institutions’ emphasis on wealth management, our investor education services, investment advisory services and asset allocation services are well received by more and more institutions. Our recent partnership with Dow Jones will also enable us to not only bring timely, credible, and trusted global business news and data to the domestic Chinese market but further broaden our audiences’ global vision as well.”

“In this new environment shaped by the pandemic, we continued to bring innovations to our operations. As a tier-one financial news aggregator, we enhanced our production capabilities to introduce a series of high-quality content such as webinars where we invited renowned domestic and international economists and chief strategists to share their views on the economy as well as the emerging growth opportunities in the complicated post-pandemic world. We also continued to explore different media and diversified channels to deliver our enriched content to our audience. For example, our account on the popular short-form video social media, DouYin, has already attracted nearly one million viewers. On new services, we introduced enterprise value added services in the recent year. Through both online and offline channels, we provide professional communication services to companies listed on domestic or international market. This new service has been retaining its growth momentum even during the turbulent first quarter.”

“Looking into the future, we will continue to strengthen our fintech capability through optimization and upgrades of our services and products to empower the wealth management sector in China,” Mr. Zhao concluded.

First Quarter 2020 Financial Results

Net revenues were $9.8 million, compared with $9.9 million during the first quarter of 2019 and $8.7 million during the fourth quarter of 2019. During the first quarter of 2020, revenues from financial services, the financial information and advisory business, advertising business and enterprise value-added services contributed 42%, 36%, 14%and 8% of the net revenues, respectively, compared with 45%, 33%, 14% and 7%, respectively, for the corresponding period in 2019.

Revenues from financial services were $4.2 million, compared with $4.5 million during the first quarter of 2019 and $4.1 million during the fourth quarter of 2019. Revenues from financial services were mainly generated from equity brokerage services. Revenues from the equity brokerage business decreased by 10.8% year-over-year but increased by 8.9% quarter-over-quarter. The year-over-year decrease in revenues from financial services was mainly due to reduced revenue from the equity brokerage business.

Revenues from the financial information and advisory business were $3.5 million, compared with $3.2 million during the first quarter of 2019 and $2.2 million in the fourth quarter of 2019. Revenues from the financial information and advisory business were mainly comprised of subscription services from individual and institutional customers and financial advisory service. The year-over-year and quarter-over-quarter increases in revenues from the financial information and advisory business were mainly due to the fast-growing investment advisory services. During the first quarter, investment advisory services for retail investors rose by 61.7% from first quarter of 2019 and 194.1% from the fourth quarter of 2019 as more retail investors were seeking professional advice in the volatile market during the outbreak of the COVID-19 Pandemic.

Revenues from advertising business were $1.3 million, compared with $1.4 million in the first quarter of 2019 and $1.4 million in the fourth quarter of 2019.

Revenues from enterprise value-added services were $0.8 million, compared with $0.7 million in the first quarter of 2019 and $0.9 million in the fourth quarter of 2019. Enterprise value-added services is a relatively new service that came out of our advertising business. Leveraging its accumulated large corporate data and research and increasing audience base online, China Finance Online provides professional communication services to companies listed on domestic or international market to help increase their visibility in the market.

Gross profit was $5.9 million, compared with $6.4 million in the first quarter of 2019 and $5.5 million in the fourth quarter of 2019. Gross margin in the first quarter was 60.1%, compared with 64.5% in the first quarter of 2019 and 63.8% in the fourth quarter of 2019. The year-over-year decrease in gross margin was mainly due to decreased revenue contribution from individual subscription services which has a higher gross margin and the decreased gross margin related to the Hong Kong brokerage business in the first quarter of 2020.

General and administrative expenses were $2.2 million, compared with $2.7 million in the first quarter of 2019, and $4.7 million in the fourth quarter of 2019. The year-over-year decrease was mainly attributable to further streamlining of the corporate managerial operations. The quarter-over-quarter decrease was mainly attributable to one-time charges including higher bad debt provision in the fourth quarter of 2019.

Sales and marketing expenses were $3.3 million, compared with $3.6 million in the first quarter of 2019, and $3.1 million in the fourth quarter of 2019. The year-over-year decrease was mainly attributable to improved efficiency. The quarter-over-quarter increase was mainly due to higher marketing expenses related to the investment advisory business.

Research and development expenses were $2.0 million, compared with $2.6 million in the first quarter of 2019 and $1.8 million in the fourth quarter of 2019. The year-over-year decrease was mainly attributable to improved efficiency after consolidation of research and development teams throughout different business units. The Company continues to support research and development in the fintech segment to further develop its fintech capabilities.

Total operating expenses were $7.5 million, compared with $8.9 million in the first quarter of 2019, and $9.6 million in the fourth quarter of 2019. The year-over-year decrease was mainly due to improved efficiency and effective cost controls. The quarter-over-quarter decrease was mainly due to bad debt provisions at the Hong Kong equity brokerage business in the fourth quarter of 2019.

Loss from operations was $1.6 million, compared with a loss from operations of $2.5 million in the first quarter of 2019 and a loss from operations of $4.1 million in the fourth quarter of 2019.

Net loss attributable to China Finance Online was $1.9 million, compared with a net loss of $2.8 million in the first quarter of 2019 and a net loss of $3.4 million in the fourth quarter of 2019.

Fully diluted loss per American Depository Shares (“ADS”) attributable to China Finance Online was $0.83 for the first quarter of 2020, compared with fully diluted loss per ADS of $1.22 for the first quarter of 2019 and fully diluted loss per ADS of $1.53 for the fourth quarter of 2019. Basic and diluted weighted average numbers of ADSs for the first quarter of 2020 were 2.3 million, compared with basic and diluted weighted average number of ADSs of 2.3 million for the first quarter of 2019. Each ADS represents fifty ordinary shares of the Company.

Recent Developments 

  • Lingxi Robo-Advisor recorded strong performance in first quarter of 2020

According to our proprietary asset allocation system, our Robo-Advisor product, Lingxi, provides Chinese retail investors with a wide array of investment combinations and personalized global asset allocations through Chinese domestic mutual funds. Since its inception, Lingxi established a solid track record of balancing performance and risk management. During the first quarter of 2020, the Chinese stock market experienced an unprecedented loss due to the COVID-19 pandemic. However, Lingxi produced an average return of 0.2%, once again outclassing most peer Robo-Advisor products in the marketplace and significantly outperforming the Shanghai Composite Index that suffered a loss of 10.4% during the same period. The best strategy of Lingxi posted a return of 2.8% in the first quarter of 2020. All strategies of Lingxi managed to control the expected annualized fluctuation under 12.6% while the expected annualized volatility of Shanghai Composite Index reached 27.8% during the same period. 

  • China Finance Online Signs Partnership Agreement with Dow Jones

In July, the Company announced it has signed a partnership agreement with global news and data business, Dow Jones. Under the agreement, Dow Jones will provide China Finance Online with access to a sub-set of its Chinese language newswire service, which will include market commentary and spot news in Chinese. The two parties will work together to better serve the huge financial information and data market in China. This partnership will combine global economic data as well as financial news and information expertise from Dow Jones with China Finance Online’s domestic market-leading data and audience engagement to bring timely, quality and professional capital market information and insight to Chinese investment and business audiences.

Conference Call Information

The management will host a conference call on July 24, 2020 at 8:00 a.m. U.S. Eastern Time (8:00 p.m. Beijing/Hong Kong time July 24, 2020). As previously announced in our press release, please use the below dial-in information to get access to the conference call.

US:

1-844-760-0770

Hong Kong:

800-906-613

Singapore:

800-616-2392

Mainland China:

800-870-0532/400-624-0407

Conference ID:

8297327

Please dial in 10 minutes before the call is scheduled to begin and provide the conference ID to join the call.

A recording of the call will be available on China Finance Online’s website under the investor relations section.

In addition, a live and archived webcast of the conference call will be available at https://edge.media-server.com/mmc/p/yg4sir25.

About China Finance Online

China Finance Online Co. Limited is a leading web-based financial services company that provides Chinese retail investors with fintech-powered online access to securities trading services, wealth management products, securities investment advisory services, as well as financial database and analytics services to institutional customers. The Company’s prominent flagship portal site, www.jrj.com, is ranked among the top financial websites in China. In addition to the web-based securities trading platform, the Company offers basic financial software, information services and securities investment advisory services to retail investors in China. Through its subsidiary, Shenzhen Genius Information Technology Co. Ltd., the Company provides financial database and analytics to institutional customers including domestic financial, research, academic and regulatory institutions. China Finance Online also provides brokerage services in Hong Kong.

Safe Harbor Statement

This press release contains forward-looking statements which constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. The statements contained herein reflect management’s current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of the Company. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, this release contains the following forward-looking statements regarding:

  • Liquidity and sources of funding, including our ability to continue operating as a going concern.
  • our prospect and our ability to attract new users;
  • our prospect on building a comprehensive wealth management ecosystem through providing a fully-integrated online communication and securities-trading platform;
  • our prospect on stabilization in cash attrition and improvement of our financial position;
  • our initiatives to address customers’ demand for intuitive online investment platforms and alternative investment opportunities; and
  • the market prospect of the business of securities-trading, securities investment advisory and wealth management.

Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, which risk factors and uncertainties include, amongst others, substantial doubt about ability to continue as a going concern, the outbreak of COVID-19 or other health epidemics in China or globally, changing customer needs, regulatory environment and market conditions that we are subject to; the uncertain condition of the world and Chinese economies that could lead to volatility in the equity markets and affect our operating results in the coming quarters; the impact of the changing conditions of the mainland Chinese stock market, Hong Kong stock market and global financial markets on our future performance; the unpredictability of our strategic transformation and growth of new businesses; the prospect of our margin-related business and the degree to which our implementation of margin account screening and ongoing monitoring will yield successful outcomes; the degree to which our strategic collaborations with partners will yield successful outcomes; the prospects for China’s high-net-worth and middle-class households; the prospects of equipping our customer specialists with new technology, tools and financial knowledge; wavering investor confidence that could impact our business; and possible non-cash goodwill, intangible assets and investment impairments may adversely affect our net income. Furthermore, we have recurring losses from operations and inability to generate sufficient cash flow to meet our obligations and sustain our operations, and face uncertainty as to the operational impact of the COVID-19 outbreak, that raise substantial doubt about our ability to continue as a going concern. Further information regarding these and other risks is included in the Company’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F under “Forward-Looking Information” and “Risk Factors”. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

For more information, please contact:
China Finance Online
+86-10-8336-3100
ir@jrj.com

Kevin Theiss
Awaken Advisors
(212) 521-4050
kevin@awakenlab.com

— Tables Follow –

China Finance Online Co. Limited

  

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

  

(In thousands of U.S. dollars)

  
   
   

Mar. 31,
2020

  

Dec. 31,

2019

Assets

                  

Current assets:

                  

Cash and cash equivalents

      

9,767

      

9,600

  

Prepaid expenses and other current assets

      

3,358

      

2,413

  

Trust bank balances held on behalf of customers

      

36,867

      

36,987

  

Accounts receivable – margin clients

      

12,378

      

13,452

  

Accounts receivable – others

      

14,329

      

12,382

  

Short-term investments

      

—

      

1,147

Total current assets

      

76,699

      

75,981

  

Property and equipment, net

      

3,929

      

4,272

  

Acquired intangible assets, net

      

75

      

75

  

Equity investments without readily determinable fair value

      

1,581

      

1,605

  

Equity method investment, net

      

754

      

767

  

Right-of-use assets

      

3,368

      

3,988

  

Rental deposits

      

748

      

770

  

Goodwill

      

109

      

108

  

Guarantee fund deposits

      

219

      

218

  

Deferred tax assets

      

947

      

1,381

  

Total assets

      

88,429

      

89,165

  
                   

Liabilities and equity

                  

Current liabilities:

                  

Deferred revenue, current (including deferred revenue, current of the consolidated
variable interest entities without recourse to China Finance Online Co. Limited $9,104
and $8,061 as of Mar. 31, 2020 and December 31, 2019, respectively)

      

9,840

      

8,855

  

Accrued expenses and other current liabilities (including accrued expenses and other
current liabilities of the consolidated variable interest entities without recourse to China
Finance Online Co. Limited $4,806 and $5,068 as of Mar. 31, 2020 and December 31,
2019, respectively)

      

17,964

      

17,420

  

Amount due to customers for trust bank balances held on behalf of customers
(including amount due to customers for trust bank balances held on behalf of customers
of the consolidated variable interest entities without recourse to China Finance Online
Co. Limited $2,228 and $2,110 as of Mar. 31, 2020 and December 31, 2019,
respectively)

      

36,867

      

36,987

  

Accounts payable (including accounts payable of the consolidated variable interest
entities without recourse to China Finance Online Co. Limited $218 and $185 as of
Mar. 31, 2020 and December 31, 2019, respectively)

      

7,039

      

6,741

  

Lease liabilities, current (including lease liabilities, current of the consolidated variable
interest entities without recourse to China Finance Online Co. Limited $1,426 and
$1,604 as of Mar. 31, 2020 and December 31, 2019, respectively)

      

2,010

      

2,243

  

Income taxes payable (including income taxes payable of the consolidated variable
interest entities without recourse to China Finance Online Co. Limited $(2) and $44 as
of Mar. 31, 2020 and December 31, 2019, respectively)

      

(72)

      

177

  

Total current liabilities

      

73,648

      

72,423

  

Deferred revenue, non-current (including deferred revenue, non-current of the
consolidated variable interest entities without recourse to China Finance Online Co.
Limited nil and nil as of Mar. 31, 2020 and December 31, 2019, respectively)

      

124

      

151

  

Deferred tax liabilities (including deferred tax liabilities of the consolidated variable
interest entities without recourse to  China Finance Online Co.Limited nil and nil as of
Mar. 31, 2020 and December 31, 2019, respectively)

      

14

      

15

  

Lease liabilities, non-current (including lease liabilities, non-current of the consolidated
variable interest entities without recourse to China Finance Online Co. Limited $516
and $741 as of Mar. 31, 2020 and December 31, 2019, respectively)

      

1,096

      

1,448

  

Total liabilities

      

74,882

      

74,037

  

Total China Finance Online Co. Limited Shareholders’ equity

      

23,629

      

25,156

  

Noncontrolling interests

      

(10,082)

      

(10,028)

  

Total liabilities and equity

      

88,429

      

89,165

  

China Finance Online Co. Limited

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(in thousands of U.S. dollars, except share and ADS related data)
 
   

Three months ended

  
   

Mar. 31,

2020

    

Mar. 31,

2019

    

Dec.31,

2019

  

Net revenues

    

9,835

      

9,855

      

8,686

  

Cost of revenues

    

(3,923)

      

(3,496)

      

(3,148)

  

Gross profit

    

5,912

      

6,359

      

5,538

  

Operating expenses

                        

General and administrative (including share-based compensation of $251, $305
and $214 respectively)

    

(2,226)

      

(2,688)

      

(4,698)

  

Product development (including share-based compensation of $27, $16 and
$24, respectively)

    

(1,985)

      

(2,576)

      

(1,821)

  

Sales and marketing (including share-based compensation of $(8), $30 and $28,
respectively)

    

(3,336)

      

(3,590)

      

(3,119)

  

Total operating expenses

    

(7,547)

      

(8,854)

      

(9,638)

  

Loss from operations

    

(1,635)

      

(2,495)

      

(4,100)

  

Interest income

    

5

      

9

      

9

  

Exchange gain (loss), net

    

(32)

      

(101)

      

(143)

  

Loss on the interest sold and retained noncontrolling

   investment

    

—

      

(298)

      

—

  

Income (loss) from equity method investment

    

(1)

      

(2)

      

3

  

Other income (expense), net

    

66

      

4

      

(14)

  

Loss before income tax expenses

    

(1,597)

      

(2,883)

      

(4,245)

  

Income tax expense

    

(419)

      

(501)

      

357

  

Net loss

    

(2,016)

      

(3,384)

      

(3,888)

  

Less: Net loss attributable to the
    noncontrolling interest

    

(96)

      

(602)

      

(480)

  

Net loss attributable to China Finance

   Online Co. Limited

    

(1,920)

      

(2,782)

      

(3,408)

  

Other comprehensive income (loss), net of tax:

                        

Changes in foreign currency translation adjustment

    

166

      

14

      

245

  

Net unrealized gain (loss) from short-term investments available-for-sale

    

1

      

4

      

—

  

Less: reclassification adjustment for net (gain) loss included in net income

    

(1)

      

(4)

      

—

  

Other comprehensive income (loss), net of tax

    

166

      

14

      

245

  

Comprehensive loss

    

(1,850)

      

(3,370)

      

(3,643)

  

Less: comprehensive loss attributable to noncontrolling interest

    

(96)

      

(602)

      

(480)

  

Comprehensive income (loss) attributable to China Finance

   Online Co. Limited

    

(1,754)

      

(2,768)

      

(3,163)

  

Net income (loss) per share attributable to China Finance

   Online Co. Limited

                        

Basic and Diluted

    

(0.02)

      

(0.02)

      

(0.03)

  

Net income (loss) per ADS attributable to China Finance

   Online Co. Limited

                        

Basic and Diluted

    

(0.83)

      

(1.22)

      

(1.53)

  

Weighted average ordinary shares

                        

Basic and Diluted

    

116,339,234

      

113,920,617

      

111,060,781

  

Weighted average ADSs

                        

Basic and Diluted

    

2,326,785

      

2,278,412

      

2,221,216

  

Related Links :

http://www.jrj.com

PR Newswire

AGM Group Holdings Inc. Regains Compliance with Nasdaq Listing Requirement

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BEIJING, July 24, 2020 — AGM Group Holdings Inc. (“AGMH” or the “Company”) (NASDAQ: AGMH), an application software company providing accounting and ERP software, fintech software, and trading education software and website service, today announced that on July 23, 2020, the Company received a letter from the Listing Qualifications Department of The NASDAQ Stock Market, Inc. (“NASDAQ”), confirming that the Company has regained compliance with Listing Rule 5550(a)(3) (the “Minimum Public Holders Rule” or the “Rule”) .

As previously reported on February 5, 2020, the Company received a notification letter from the Listing Qualifications Department of NASDAQ on January 31, 2020 indicating that the Company was not in compliance with the Minimum Public Holders Rule, which requires AGMH to have at least 300 public holders for continued listing on the NASDAQ Capital Market. Based on the Company’s submission dated July 21, 2020, the Company has greater than 300 public holders. Accordingly, NASDAQ Staff has determined that the Company complies with the Rule, and this matter is now closed.

About AGM Group Holdings Inc.

Incorporated in April 2015 and headquartered in Beijing, China, AGM Group Holdings Inc. is an application software company, currently conducting three main business: 1) accounting and ERP software, 2) fintech software, and 3) trading education software and website service. For more information, please visit www.agmprime.com.

Forward Looking Statements

This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. All statements other than statements of historical fact in this press release are forward-looking statements and involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These forward-looking statements are based on management’s current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates, but involve a number of unknown risks and uncertainties, Further information regarding these and other risks is included in the Company’s filings with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and actual results may differ materially from the anticipated results. You are urged to consider these factors carefully in evaluating the forward-looking statements contained herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements.

For more information, please contact:

At the Company:
Email: ir@agmprime.com

Investor Relations:
Tony Tian, CFA         
Weitian Group LLC
Email: ttian@weitianco.com
Phone: +1-732-910-9692

Related Links :

http://www.agmprime.com

PR Newswire

U.S.-based UserTesting Names GB Kumar As Their Vice President of Sales for Asia Pacific

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SINGAPORE, July 24, 2020 — UserTesting, a leading provider of on-demand human insights, today announced the appointment of GB Kumar as the company’s first Asia Pacific regional Vice President of Sales. UserTesting has nearly 50 subscription customers in Asia Pacific with leading brands including Agoda, Canva, Destination NSW, Energy Australia, Meitu Inc., Photo Infotech Inc., and Yun Yun. These companies leverage the UserTesting® Human Insight Platform to get fast feedback on their products, messaging, & experiences, in a cost effective-way – from consumers in their markets, to build empathy for their end-users so they can make more informed business decisions.

“Asia Pacific countries are going through significant changes in buyer behaviour & trade patterns, which needs to be clearly understood for companies to sustain a competitive edge and grow their business,” said GB Kumar. “UserTesting can help these companies gain empathy for their customers by delivering deep and actionable insights – and these customer insights will help them regain the business momentum to accelerate out of the crisis.”

An accomplished business and sales leader with more than 20 years of experience, Kumar brings extensive experience leading teams across Asia Pacific, India, & the Middle East. Kumar most recently served as Vice President of Worldwide Sales & Marketing, and General Manager of India Operations at Prysm Inc. Prior to Prysm, Kumar held multiple geo leadership roles at Intel, Tech Mahindra, & Cisco.

“We are very excited to have GB join us to lead our expansion into Asia. He brings a proven track record of being able to develop and scale sales organizations for some of the world’s top technology companies, and we look forward to having him help us continue to expand our international footprint,” said Andy MacMillan, CEO of UserTesting. 

About UserTesting

Headquartered in San Francisco, CA, UserTesting enables every organization to deliver the best customer experience powered by human insight. With UserTesting’s on-demand Human Insight Platform, companies across industries make accurate customer-first decisions at every level, at the speed business demands. With UserTesting, product teams, marketers, digital, and customer experience executives, designers & UX researchers confidently & quickly create the right experiences for all target audiences, increasing brand loyalty & revenue. UserTesting has more than 1,500 subscription customers, including more than half of the world’s top brands, & has delivered human insights to over 35,000 companies to-date. www.usertesting.com.

PR Newswire

How Tencent Music Entertainment Supports Indie Musicians on Streaming Platform During the Pandemic

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SHENZHEN, China, July 24, 2020 — Tencent Music Entertainment Group (TME) (NYSE: TME), the leading online music entertainment platform in China, today celebrates three years of achievements in artist support by its indie musician program, Tencent Musician.

Since it launched three years ago, Tencent Musician has provided powerful backing for musicians to continue their creation. The program has generated 590 million yuan in revenue for original music content creators since its inception.

Both before and since the COVID-19 pandemic swept across the world, Tencent Musician has run the “One Hundred Million Yuan Incentive Project”, which was later followed by the “One Hundred Million Yuan Incentive Project 2.0”, a more sustainable and upgraded project. The One Hundred Million Yuan Incentive Project has opened up a new model for musicians to generate, or increase, their incomes via a variety of incentive methods. According to data from the One Hundred Million Yuan Incentive Project 1.0, more than 40 percent of the musicians who enjoyed exclusive incentives were able to double their incomes, while over 80 percent saw their incomes rise by more than 50 percent.

In the first half of 2020, to support musicians and to provide music entertainment for the public amid the COVID-19 pandemic, which had caused live music performances to be cancelled, Tencent Musician organized 50 live-streamed concerts with 109 groups of musicians that reached an audience of nearly 8 million people.

Leveraging Tencent Musician and the TME ecosystem, TME provides support for indie musicians in three ways:

  • Taking advantage of TME’s 800 million monthly active users, TME helps generate traffic for musicians, increasing their exposure and building audience awareness. As of July 24, 2020, total playbacks exceeded 400 billion across TME platforms, while the amount of original music reached 850,000 songs.
  • Through income support projects and incentive plans, TME continues to boost the income levels of musicians, as mentioned above.
  • TME holds industry seminars for musicians to discuss different industry phenomena and topics. During the pandemic, Tencent Musician launched a campaign to gather a collection of original charity songs, which received responses from thousands of musicians with more than 2,000 songs. The music collection provided important moral support in the fight against the pandemic.

In addition, TME attaches great importance to opening up performing opportunities for musicians. For the offline celebration events of the fourth anniversary of TME, the company tailored an interactive session for Tencent musicians to perform for the public.

Within just four years since inception, TME was able to achieve a steady sustainable growth and to successfully list in the U.S. as a leading enterprise in the China music industry and a globally recognized presenter of Chinese music. Through its diversified music social entertainment products, TME creates a listening, watching, singing, performing and socializing all-in-one music entertainment experience and allows users to participate in music creation, appreciation, sharing and interaction.

TME is building a comprehensive social community to connect and benefit users, record companies, and talented musicians. In addition to Tencent Musician, all of the other programs and platforms under TME cooperate with each other and third-party music labels to support different types of musicians, illustrating the openness and inclusiveness for original music.

About Tencent Music Entertainment Group

Tencent Music Entertainment Group (NYSE: TME) is the leading online music entertainment platform in China, operating the country’s highly popular and innovative music apps: QQ Music, Kugou Music, Kuwo Music and WeSing. TME’s mission is to use technology to elevate the role of music in people’s lives by enabling them to create, enjoy, share and interact with music. TME’s platform comprises online music, online karaoke and music-centric live streaming services, enabling music fans to discover, listen, sing, watch, perform and socialize around music.

For more information, please visit https://www.tencentmusic.com/

About Tencent Musician

The Tencent Musician Program is an online service for aspiring artists to upload original music content, which can then be streamed and downloaded by users on TME platform. In addition to helping these aspiring artists monetize their content, the Tencent Musician Program provides services such as music publishing, marketing, data management, copyright management and professional training.

For more information, please visit https://y.tencentmusic.com/#/home

Media Contact:

Edmond Lococo, ICR Inc.
E-mail: TME.PR@icrinc.com
Phone: +86 138-1079-1408

Related Links :

http://www.qqmusic.com

PR Newswire

China Finance Online Announces a New Telephone Dial-in Numbers for the First Quarter 2020 Earnings Call on July 24, 2020

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BEIJING, July 24, 2020 — China Finance Online Co. Limited ("China Finance Online", or the "Company", "we", "us" or "our") (NASDAQ GS: JRJC), a leading web-based financial services company that provides Chinese retail investors with fintech-powered online access to securities trading, wealth management products, securities investment advisory services, as well as financial database and analytics services to institutional customers, today announced that the dial-in numbers for the previously announced first quarter 2020 earnings call on July 24, 2020 at 8:00 a.m. U.S. Eastern Time (or 8:00 p.m. Beijing/Hong Kong Time on July 24, 2020) have been changed to: 

U.S. Toll Free:

1-844-760-0770

Hong Kong Toll Free:

800-906-613

Singapore Toll Free:

800-616-2392

Mainland China Toll Free:

800-870-0532 or 400-624-0407

Conference ID:

8297327

The earnings release will be available on the Investor Relations section of the Company’s website at https://ir.chinafinanceonline.com/.

Please dial in 10 minutes before the call is scheduled to begin and provide the conference ID to join the call. 

A replay of the call will be available shortly after the conclusion of the event through 9:59 a.m. Eastern Time on July 31, 2020 (or 9:59 p.m. Beijing/Hong Kong Time on July 31, 2020). The dial-in details for the replay are:

U.S. Toll Free:

1-855-452-5696

Hong Kong Toll Free:

800-963-117

Singapore Toll Free:

800-616-2305

Mainland China Toll Free:

800-870-0205 or 400-632-2162

Conference ID:

8297327

Additionally, a live and archived webcast of the conference call will be available at https://edge.media-server.com/mmc/p/yg4sir25.

About China Finance Online 

China Finance Online Co. Limited is a leading web-based financial services company that provides Chinese retail investors with fintech-powered online access to securities trading services, wealth management products, securities investment advisory services, as well as financial database and analytics services to institutional customers. The Company’s prominent flagship portal site, www.jrj.com, is ranked among the top financial websites in China. In addition to the web-based securities trading platform, the Company offers basic financial software, information services and securities investment advisory services to retail investors in China. Through its subsidiary, Shenzhen Genius Information Technology Co. Ltd., the Company provides financial database and analytics to institutional customers including domestic financial, research, academic and regulatory institutions. China Finance Online also provides brokerage services in Hong Kong.

For more information, please contact: 

China Finance Online 
+86-10-8336-3100 
ir@jrj.com 

Kevin Theiss 
(212) 521-4050 
kevin@awakenlab.com

Related Links :

http://www.jrj.com

PR Newswire

Intelligent traffic management: helping vehicles to flow through an ancient city

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Traffic continues to grow in every major city. But how do you beat congestion in these restricted urban spaces? In China’s ancient-walled city of Xi’an, they’re adopting an intelligent traffic management system based on Hikvision technology – and boosting traffic flow while reducing journey time.

HANGZHOU, China, July 24, 2020 — The Chinese city of Xi’an, known as Chang’an in ancient times, was the center of ancient oriental civilization. Thirteen dynasties spanning Chinese history have chosen Xi’an as their capital. Today, Xi’an is not simply a part of history: it’s a high tech hub, renowned across China for its scientific research and education, manufacturing, technology, and transportation.

Xi'an urban traffic
Xi’an urban traffic

The challenge: allowing a city to grow and flow within ancient walls

In spite of being a modern hub, Xi’an still retains its ‘checkerboard’ layout from the Tang Dynasty, complete with its border of tall and ancient walls. Nevertheless, while economic growth has enabled the city to develop, the walls place great restrictions on the city’s daily movement – especially to its burgeoning traffic. Vehicles can only enter and exit through the city gates, but with some three million vehicles in the city, the limited number of entrances was beginning to cause serious congestion.

What’s more, there are also many ancient ruins in the city, which were further limiting the development of the urban area. Plus as of 2018, the city was home to over 10 million people, while the number of construction projects was steadily increasing.

Managing a growing city while protecting its history presented a serious challenge to Xi’an. So to address this, Xi’an Urban Traffic Administration turned to Hikvision and its intelligent cameras.

The Solution: an intelligent traffic management system from Hikvision

"Xi’an’s city walls make it impossible to increase the size of the urban area. So it was only through technology that we could allow the modern city to grow and develop," says Lihu Ma, the Project Manager from Hikvision. "A core part of the Hikvision solution involves our AI-powered video technology."

The Xi’an traffic police worked with experts from Hikvision, as well as urban planning experts, internet service providers and other technology companies, to design and implement an intelligent traffic management system. The construction of this system fully utilizes Hikvision’s core advantages in urban transportation intelligence, employing AI-powered video to create a powerful traffic sensing system. "Effectively, we are building a bridge between an intelligent digital world and the physical urban transportation network in Xi’an," explains Lihu.

The technical solution

The intelligent traffic management system analyzes comprehensive and detailed data about the movement of traffic through the urban Xi’an area, and uses the insight gathered to make the flow of traffic more smoothly in three key ways.

1. Comprehensive road traffic violation monitoring

Xi’an traffic police have installed Hikvision’s Checkpoint Capture Cameras and Intersection Violation Capture Units as part of a monitoring system that can detect illegal vehicle behavior at intersections.

These full view ultra-high zoom cameras record vehicles making illegal maneuvers – such as running red lights, making banned turns and illegal lane changes – in real time. What’s more, the latest sonar monitoring equipment is being used to detect illegal use of car horns in banned areas.

2. Visual integrated command and dispatching platform

Using real-time video streams from Hikvision Traffic Flow Capture Cameras, a number of road condition perception technologies, plus intelligent mobile applications, Xi’an traffic police has created a visual command and control center, coupled with an intelligent police dispatch system.

All data is aggregated and dynamically displayed on a large screen in the command and control center. In the event of a traffic incident, the system generates dispatch recommendations intelligently, according to the location and distribution of traffic police officers throughout the city. Those closest to an incident receive an automated message to their mobile terminals, enabling them to arrive at the scene quickly.

More importantly, the intelligent traffic management system uses advanced machine learning capabilities to gain insight into typical congestion patterns, in order to actively identify potential traffic events before they happen. By analyzing large volumes of road condition data and information from Hikvision’s intelligent video cameras, the system can predict which intersections are most prone to congestion and when, enabling traffic police to put evasive measures in place before serious issues arise.

3. Improved vehicle flow capacity with intelligent signal control

The Xi’an traffic management team also employs congestion management practices to ease the flow of traffic, largely through the optimization of signal timing.

Using Hikvision intelligent video cameras coupled with augmented reality (AR) technology, the intelligent traffic management system analyzes traffic flow data and dynamically alters the timing of signal lights accordingly. It will monitor traffic flow, queue length and average driving speed in all directions of intersections in real-time, automatically adjusting signal timing to optimize the flow of vehicles.

Benefits: Traffic throughput up by 10%, journey time down by 12%

The Xi’an traffic management system has now been trained with a wealth of traffic data, including Hikvision video, enabling it to build multiple intelligent algorithms for managing congestion in the city.

First of all, map-based congestion reports suggest that Xi’an’s congestion rankings have improved significantly. In fact, compared with the test results of pilot roads before the system went live, intelligent signal control alone has increased the throughput of traffic by 10%, while the average vehicle journey time is reduced by about 12%.

What’s more, driver behavior is improving, and drivers are becoming more compliant with the rules of the road. Traffic law enforcement data reveals that traffic offenses are generally decreasing, with traffic violations dropping by some 30% in one short-term observation.

Additionally, thanks to the proactive traffic incident warning function, the incident detection rate has also increased by more than 30% compared to the traditional model. With the continuous optimization of the system algorithm, plus ongoing installation of monitoring equipment, the accuracy of this identification will only improve.

In the process of urbanization, tackling congestion is not only about improving the flow of the transportation network: it’s also basic governance for building a smart city.

You can find out more about Hikvision’s intelligent traffic solution here.

Photo – https://photos.prnasia.com/prnh/20200724/2866766-1?lang=0