Monthly Archives: November 2020

PR Newswire

VTech Announces 2020/2021 Interim Results

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Higher profit on stable revenue and improved gross margin

HONG KONG, Nov. 9, 2020 —

  • COVID-19 brought unprecedented challenges to the Group’s operations
  • Group revenue was flat at US$1,123.6 million
  • Gross profit margin improved from 30.7% to 31.8%
  • Profit attributable to shareholders of the Company rose 4.7% to US$123.6 million
  • Interim dividend of US17.0 cents per ordinary share, unchanged from the dividend declared in the corresponding period last year
  • Strong balance sheet, with higher net cash and lower inventory

VTech Holdings Limited (HKSE: 303) today announced its results for the six months ended 30 September 2020, showing an increase in profit on stable revenue and improved gross profit margin.

"The COVID-19 coronavirus pandemic has brought unprecedented challenges to most of the world’s businesses. When VTech announced its annual results for the financial year 2020 in May this year, the Group’s key markets were experiencing different levels of lockdown, with extensive closures of retail outlets, weak consumer sentiment and a severe slowdown in business activities. This resulted in very low order visibility and consequently a pessimistic outlook was given for the financial year 2021," said Mr. Allan Wong, Chairman and Group CEO of VTech Holdings Limited. "Despite many uncertainties, however, sales for the first six months turned out to be better than expected and the Group reported stable revenue, an improved gross profit margin and higher profit for the period."

Results and Dividend

Group revenue for the six months ended 30 September 2020 was US$1,123.6 million, compared to US$1,124.1 million in the same period last year. Higher sales in Europe were offset by lower sales in North America, Asia Pacific and Other Regions.

Profit attributable to shareholders of the Company grew by 4.7% to US$123.6 million. This was mainly attributable to higher gross profit, as costs declined. During the period, the Group recorded a fair value loss on an investment in a company that designs and distributes integrated circuit products, contrasting with a fair value gain in the corresponding period last year.

Basic earnings per share increased by 4.5% to US49.0 cents, compared to US46.9 cents in the comparable period of the financial year 2020.

The Board of Directors has declared an interim dividend of US17.0 cents per ordinary share, unchanged from the dividend declared in the first half of the financial year 2020.

Costs

The Group’s gross profit margin in the first six months of the financial year 2021 was 31.8%, as compared with 30.7% in the same period last year. The improvement was due to a number of factors. Materials prices were lower, while direct labour costs and manufacturing overheads benefited from a weaker Renminbi. Further productivity gains and a more favourable product mix also improved the Group’s gross profit margin. 

US-China Trade Tensions

On 15 January 2020, a phase one trade deal was signed between mainland China and the US. A 15% tariff that was imposed on VTech residential cordless phones from 1 September 2019 was reduced to 7.5%, effective 14 February 2020.  To mitigate the impact, the Group has started the production of residential phones at its new facility in Penang, Malaysia. Some of the Group’s contract manufacturing services (CMS) customers have also been affected by the tariffs, ranging from 7.5% to 25%. CMS customers who wanted to relocate their production outside mainland China have already moved to VTech facility in Muar, Malaysia. The Group’s electronic learning products (ELPs) are largely unaffected by the US tariffs.

COVID-19 Business Update

The pandemic has brought unprecedented challenges to the Group’s operations. Early in 2020, with many countries in various degrees of lockdown, global supply chains were severely disrupted and consumer demand weakened dramatically.

In recent months, however, business operations have gradually returned to normal. Production and capacity utilisation at the Group’s manufacturing facilities are now at pre-COVID-19 levels, while the supply chain is operating as normal. Consumer demand has also recovered strongly in some markets. It has been especially robust for products relating to working and staying at home, which has benefited some of the Group’s product lines.

Globally, e-commerce has grown rapidly as consumers have shifted more to online purchases. Sales to e-tailers and other online channels expanded to 16.2% of total Group revenue during the first six months of the financial year 2021.

Restrictions on travel and meeting nevertheless mean new patterns of working, with a much greater reliance on carrying out tasks and managing businesses remotely. VTech has been coping well with these challenges and its global operations continue to run smoothly.

As for liquidity, VTech is in a strong financial position. The Group ended its half year with increased net cash and lower inventory.

While managing the effect of the pandemic on its businesses, VTech’s priority has been to protect the health and safety of its employees and customers. The Group continues to ensure a safe working environment at all its locations worldwide, in line with government and World Health Organisation recommendations. VTech and its employees have also been giving much needed support to local communities, including financial donations and supporting children in need with educational toys.

Segment Results

North America

Group revenue in North America decreased by 5.6% to US$492.9 million in the first six months of the financial year 2021 as higher sales of ELPs and telecommunication (TEL) products were offset by lower CMS sales. North America remained VTech’s largest market, accounting for 43.9% of Group revenue.

ELPs revenue in North America rose by 9.8% to US$278.1 million, driven by higher sales of standalone products. The increase reflects the Group’s strong position in electronic learning toys, a segment that has benefited from the pandemic, as parents and children spend more time at home. During the first nine months of the calendar year 2020, the Group strengthened its leadership as the number one manufacturer of electronic learning toys from infancy through toddler and preschool in the US[1]. In Canada, VTech maintained its position as the number one manufacturer in the infant, toddler and preschool toys category[2].

Growth in standalone products came from higher sales of both LeapFrog and VTech brands. LeapFrog sales were especially robust. Preschool items offering overt educational values including Learning Friends 100 Words Book™ and 100 Animals Book™ achieved strong sell-through. The Blue’s Clues & You!™ series of licensed products performed strongly, with the Really Smart Handy Dandy Notebook selling particularly well. Sales of LeapBuilders®, however, registered a decline.

VTech standalone products benefited from rising sales of infant and toddler products, KidiZoom® cameras, other Kidi line products and the Go! Go! Smart family of products. These increases offset a decline in preschool products. There were innovative additions to the product line-up during the period. Go! Go! Smart Wheels® saw the addition of Ultimate Corkscrew Tower™. Building on the success of the popular robotic toy Myla the Magical Unicorn™, VTech launched Myla’s Sparkling Friends™, a line of toys that brings colour play to life using fantastical characters. The new Go! Go! Cory Carson® vehicles and playsets hit the shelves during the period. The first two seasons of the associated animation, along with a special edition entitled "Go! Go! Cory Carson Summer Camp", are now streaming on Netflix.

Sales of platform products in North America declined slightly. At LeapFrog, the platform products business posted overall growth. The brand’s children’s educational tablets and interactive reading systems saw sales increases, offsetting a decline in RockIt Twist™. The growth was augmented by the introduction of Magic Adventures Globe™. Subscriptions to the LeapFrog Academy™ continued to grow steadily. At VTech, sales of platform products saw a decline, as higher sales of Touch & Learn Activity Desk™ were insufficient to compensate for lower sales of KidiZoom Smartwatches and KidiBuzz™.

During the first six months of the financial year 2021, the Group’s ELPs gained further recognition from toy and parenting industry experts, key retailers and toy advisory boards in North America. KidiZoom Creator Cam and Helping Heroes Fire Station™ both made Walmart’s "Top Rated by Kids" toy list. LeapFrog Speak & Learn Puppy™ and KidiZoom Creator Cam were included in The Toy Insider’s "Hot 20" list, while KidiZoom Creator Cam, the LeapFrog 100 Animals Book and Blue’s Clues & You! Really Smart Handy Dandy Notebook were selected for TTPM’s "Holiday Most Wanted" list. A total of 11 VTech and LeapFrog products made it into The Toy Insider magazine’s "2020 Holiday Gift Guide".

TEL products revenue in North America saw a 3.7% increase to US$130.2 million, mainly driven by higher sales of residential phones. Sales of commercial phones and other telecommunication products held steady.

During the period, sales of residential phones in North America rose as the work-from-home trend led consumers to replace and upgrade their fixed-line telephones. The VTech branded super-long-range cordless phone performed especially well. In the first half of the financial year 2021, VTech remained the exclusive supplier to a key retailer in the US and strengthened its leadership position in the US residential phones market[3].

The commercial phones and other telecommunication products business in North America was stable. Small to medium sized business (SMB) phones, hotel phones, VoIP (Voice over Internet Protocol) phones and conference phones posted sales decreases, as they were hit by the slump in business-related activity and in travel. However, headsets achieved higher sales, boosted by the work-from-home boom. Baby monitors, the CareLine™ range and IADs (Integrated Access Devices) benefited from the stay-at-home advice as well, with VTech 1080p 7-inch Smart Wi-Fi baby monitor selling particularly well. As a result, VTech baby monitors strengthened their position as the number one brand in the US and Canada[4].

CMS revenue in North America fell by 40.9% to US$84.6 million, with declines in all product categories. The reduction in revenue was primarily due to the negative impact of the pandemic. The professional audio industry was significantly impacted by the restrictions on public gatherings, with a major customer experiencing excess inventory as a result. A drop in replacement demand for coin and note recognition machines and over-inventory at an industrial printers customer contributed to the sales decline in industrial products. Medical and health products saw lower orders of hearing aids, as sales activities were significantly affected by the pandemic. Sales of solid-state lighting fell as contracts could not be concluded and project-based bidding ceased. Communication products recorded a sales decline as customers phased out their product ranges. The Group nonetheless managed to add new customers in the fields of professional audio equipment and industrial products during the period.

Europe

Group revenue in Europe increased by 10.6% to US$487.5 million in the first six months of the financial year 2021, as higher sales of ELPs and CMS offset lower revenue from TEL products. Europe remained VTech’s second largest market, accounting for 43.4% of Group revenue.

ELPs revenue in Europe rose by 8.2% to US$157.6 million, with higher sales of both standalone and platform products. Geographically, sales increased in France, the UK, Germany and the Netherlands, while declining in Spain. In the first nine months of the calendar year 2020, VTech was the number one infant and toddler toys manufacturer in France, the UK, Germany and the Benelux countries[5].

In standalone products, both the VTech and LeapFrog brands achieved higher sales. For the VTech brand, growth was led by preschool products, KidiZoom camera, other Kidi line products and Switch & Go Dinos®. This offset declines in infant products and the Toot-Toot family of products. The new Go! Go! Cory Carson vehicles and playsets were rolled out to the major European markets in September 2020 under the name Toot-Toot Cory Carson®. LeapFrog saw rising sales of infant, toddler and preschool products in the first half of the financial year, with strong sales of Learning Friends 100 Words Book and 100 Animals Book. This offset a decline for Bla Bla Blocks® (the name in Europe for LeapBuilders).

Platform products saw growth in sales of both VTech and LeapFrog branded products. For VTech, the main drivers were KidiZoom Smartwatches, Touch & Learn Activity Desk and children’s educational tablets. Growth in these products offset a decline in KidiCom™ Max. At LeapFrog, the revenue increase was driven by higher sales of Magic Adventures Globe and interactive reading systems, which offset declines in RockIt Twist and children’s educational tablets.

In the first six months of the financial year 2021, Speak & Learn Puppy and KidiZoom Video Studio HD were named "Best Infant Toy" and "Best High Tech Toy" respectively, in the "Grand Prix du Jouet 2020" awards given by La Revue du Jouet magazine in France.

Revenue from TEL products in Europe decreased by 8.4% to US$52.5 million in the first six months of the financial year 2021 as sales of residential phones, commercial phones and other telecommunication products declined.

In Europe, the Group sells residential phones to major telephone companies in the region on an original design manufacturing basis. The pandemic resulted in reduced orders from these customers as their business activities slowed down.

For commercial phones and other telecommunication products, higher sales of CAT-iq (Cordless Advanced Technology – internet and quality) handsets, the CareLine range, IADs and headsets were insufficient to offset declines in baby monitors, VoIP phones and conference phones. Stay-at-home advice across Europe benefited sales of CAT-iq handsets, CareLine products, IADs and headsets, as people sought to upgrade their communication devices. Baby monitors saw sales decrease, however, as a major customer reduced orders. Lockdowns and travel restrictions led to the cancellation of trade shows and a slowdown in business activities, resulting in lower orders for VoIP phones and conference phones. Sales of the Group’s hotel phones in Europe held steady, however.

During the period, VTech 1080p 7-inch Smart Wi-Fi baby monitor won three top awards from Loved by Parents magazine in the UK: "2020 Best Baby Monitor — Gold Winner", "2020 Best Video Monitor — Gold Winner" and "2020 Best Innovative Baby Monitor — Platinum Winner".

CMS revenue in Europe rose by 16.8% to US$277.4 million. Hearables, medical and health products, home appliances and communication products saw higher sales, offsetting declines in professional audio equipment, IoT (Internet-of-Things) products and switching mode power supplies.

Hearables recorded significant growth as demand for headsets was boosted by the need to work from home. A customer moving production of its new version of a true wireless headset to VTech also contributed to the sales increase. Medical and health products added a new customer during the period and saw sales of hair removal products rise, offsetting a decline in orders for hearing aids. Business from home appliances was stable, while communication products benefited from increasing orders for Wi-Fi routers. In contrast to these increases, professional audio equipment posted lower sales, as higher demand for audio interface equipment failed to offset lower orders for audio mixers and amplifiers. IoT products also saw sales decrease, as the pandemic significantly slowed down the installation of smart meters in the UK. Sales of internet-connected thermostats and air-conditioning controls remained stable. Sales of switching mode power supplies were lower as a customer continued to transfer production back in-house following a change in ownership.

Asia Pacific

Group revenue in Asia Pacific decreased by 8.2% to US$130.2 million in the first six months of the financial year 2021, as lower sales of ELPs and CMS offset higher sales of TEL products. The Asia Pacific region represented 11.6% of Group revenue.

Revenue from ELPs in Asia Pacific fell by 9.4% to US$40.4 million, as growth in Australia was offset by lower sales in mainland China. Australia saw a robust sales increase on strong sell-through of both the VTech and LeapFrog branded products. In the first nine months of the calendar year 2020, VTech gained market share and has become the number one manufacturer in the infant and toddler toys category in Australia[6]. In mainland China, growth in online sales was insufficient to compensate for a decline in the offline channels.

TEL products revenue in Asia Pacific increased by 15.3% to US$15.8 million, owing to higher sales in Australia, Japan and Hong Kong. In Australia, growth was mainly driven by baby monitors, while Japan saw increased orders for residential phones from an existing customer. In Hong Kong, IADs were the key driver of higher sales.

CMS revenue in Asia Pacific decreased by 11.5% to US$74.0 million as lower sales of medical and health products and home appliances offset growth in professional audio equipment and communication products. The movement control order imposed by the Malaysian government in mid-March also affected sales, as this caused the CMS production facility in Muar to shut down for several weeks. In medical and health products, sales of diagnostic ultrasound systems were lower as hospitals shifted their budgets to purchase COVID-19 related equipment. For home appliances, orders fell as a product reached the end of its life cycle, while orders for other products slowed down owing to the pandemic. Contrasting with these decreases, the growth in professional audio equipment was driven by a rise in revenue from a new customer supplying USB streaming microphones for online KOLs (Key Opinion Leaders). Sales of communication products were also higher, with orders for marine radios increasing as a second generation of products came on stream.

Other Regions

Group revenue in Other Regions, comprising Latin America, the Middle East and Africa, fell by 34.0% to US$13.0 million in the first six months of the financial year 2021. The decrease was attributable to lower sales of all three product lines. Other Regions accounted for 1.1% of Group revenue.

ELPs revenue in Other Regions declined by 35.2% to US$5.9 million for the period as higher sales in Africa were offset by lower sales in the Middle East and Latin America.

TEL products revenue in Other Regions decreased by 27.4% to US$6.9 million. The decline was attributable to sales decreases in Latin America and Africa, which offset an increase in the Middle East.

CMS revenue in Other Regions was US$0.2 million in the first six months of the financial year 2021, as compared to US$1.1 million in the corresponding period of the prior financial year.

Outlook

The ongoing impact of the COVID-19 pandemic brings an unusually high degree of uncertainty to assessing the outlook for the remainder of the financial year. A resurgence in infection rates in the US and Europe, along with higher unemployment, could lead to a weakening of consumer sentiment in the Group’s key markets.  Consequently, Group revenue for the full year is not expected to grow. Gross profit margin, meanwhile, is forecast to improve year-on-year. The Group is investing more on expanding online sales, in order to capitalise on the shift towards higher online purchasing.

ELPs revenue is forecast to remain broadly stable for the full financial year. In North America, the positive momentum at both VTech and LeapFrog brands is forecast to continue, with the sales outlook for LeapFrog preschool toys especially promising. In Europe, however, the nationwide lockdown imposed by the French, German and UK governments in late October and early November respectively may negatively impact holiday sales. In Asia Pacific, the trend in Australia is expected to remain robust. For mainland China, sales should pick up in the second half, as shipments to some of the maternity-infant-child specialty retailers resume and sales of other channels show continuous improvement.

For TEL products, revenue for the full year may decline slightly. Sales of residential phones are expected to hold steady, while the recovery in commercial phones is likely to remain slow. Paving the way for future growth, a new line of VoIP phones under the Snom brand will be rolled out in early 2021. There has been a good response to the latest range of hotel phones based on SIP (Session Initiation Protocol) and PSTN (Public Switched Telephone Network) technology. This bodes well for VTech being able to benefit from the market consolidation that is underway, although the challenges currently faced by the hospitality industry will dampen demand in the short term. The momentum in CAT-iq handsets, the CareLine range and IADs remains positive, while sales of baby monitors are anticipated to be stable.

CMS revenue is expected to increase for the full financial year, led by strong orders for headsets and a recovery in the other product categories. A new NPI (New Product Introduction) centre in Shenzhen will open up additional business avenues. It aims to capture orders from start-ups worldwide, in particular the growing number in mainland China’s Greater Bay Area. State-of-the-art equipment is currently being installed and the centre should be fully operational by the end of 2020. In Malaysia, with the phase one expansion of the CMS facility in Muar now complete, work is moving ahead on phase two, raising capacity by 50%.

The acquisition of the Group’s second manufacturing facility in Penang, Malaysia was completed in July 2020. Comprising 500,000 square feet of buildings, it will be used for manufacturing ELPs and TEL products destined for the US market.

"The macro-economic environment remains highly uncertain, but VTech has managed to navigate the turbulence so far. Our solid balance sheet, strong line-up of innovative products and operational excellence should enable us to gain further market share and hence create long-term value for our shareholders," said Mr. Wong.

[1] The NPD Group, Retail Tracking Service. Ranking based on total retail sales of VTech and LeapFrog products in the combined toy categories of early electronic learning, toddler figure and playset, walker, electronic entertainment (excluding tablets) and preschool electronic learning for the calendar year ending September 2020

[2] The NPD Group, Retail Tracking Service

[3] MarketWise Consumer Insights, LLC, April 2020 – September 2020

[4] The NPD Group Inc., Retail Tracking Service, US & Canada, Baby Monitors, April 2020 – September 2020 combined vs. April 2019 – September 2019 combined

[5] The NPD Group, Retail Tracking Service

[6] The NPD Group, Retail Tracking Service

About VTech

VTech is the global leader in electronic learning products from infancy through toddler and preschool and the largest manufacturer of residential phones in the US. It also provides highly sought-after contract manufacturing services. Since its establishment in 1976, VTech has been a pioneer in the electronic learning toys category. With advanced educational expertise and cutting-edge innovation, VTech products provide fun and learning to children around the world. Leveraging decades of success in cordless telephony, VTech’s diverse collection of telecommunication products elevates both home and business users’ experience through the latest in technology and design. As one of the world’s leading electronic manufacturing service providers, VTech offers world-class, full turnkey services to customers in a number of product categories. The Group’s mission is to design, manufacture and supply innovative and high quality products in a manner that minimises any impact on the environment, while creating sustainable value for its stakeholders and the community.

Note: Starting from 22:00, 9 November 2020 (HKT), the archived webcast of the 2020/2021 interim results announcement can be accessed through VTech website via this link https://www.vtech.com/en/investors/financial-briefings/.

For further information, please contact:

Grace Pang 

VTech representative in Hong Kong

VTech Holdings Limited

Kris Cheung, Golin

(852) 2680 1000 (office)

(852) 2501 7939 (office)

grace_pang@vtech.com (email)

kcheung@golin.com (email)

 

PR Newswire

Kaspersky Commended by Frost & Sullivan for Delivering Customer-Focused, Holistic Cybersecurity Solutions

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Combining Machine Learning through its MLAD technology and Big Data analytics through the Kaspersky Security Network, Kaspersky provides a complete industrial (OT/ICS) cyber security solution

LONDON, Nov. 9, 2020 — Based on its recent analysis of the global industrial (OT/ICS) cybersecurity market, Frost & Sullivan recognizes Kaspersky with the 2020 Global Company of the Year Award for advancing its vision of creating a truly superior industrial cybersecurity solution. Kaspersky is a leader in analyzing market trends and developing customized solutions that effectively address key pain points within the industrial environment. It has made significant strides over the past five years by incorporating unique technologies such as Machine Learning for Anomaly Detection (MLAD) and Kaspersky Threat Intelligence Feeds in its solutions.

2020 Global Industrial (OT/ ICS) Cyber Security Company of the Year Award
2020 Global Industrial (OT/ ICS) Cyber Security Company of the Year Award

In response to the convergence of IT and OT systems, it launched the Kaspersky Industrial CyberSecurity solution. The solution includes a wide range of products and services such as Kaspersky Industrial CyberSecurity for Nodes to protect industrial endpoints and Kaspersky Industrial CyberSecurity for Networks for asset and communication discovery for situational awareness, and early industrial attack and anomaly detection. In addition, it offers security awareness and training, threat intelligence, security and vulnerability assessments, and managed security services. Its detection engines generate different events, while its correlation engine correlates these atomic events into aggregated events that help eliminate unnecessary alerts.

"Kaspersky Industrial CyberSecurity is uniquely placed to address unmet needs such as protecting legacy operating systems on industrial hosts and offering comprehensive network and asset visibility along with well-rounded attack visibility and protection," said Gautham Gnanajothi Global Research Director. "Its Growth Center, Future Technologies, and Innovation Hub departments are perfectly positioned with best-in-class strategic frameworks to assess, develop, and deliver innovative security offerings to support industrial/ OT end users along their digital transformation journey."

Significantly, the company has two dedicated research teams; one to support its industrial solutions and one for broader market-focused cybersecurity megatrends. The Kaspersky Industrial Control Systems – Cyber Emergency Response Team (ICS-CERT) for industrial solutions specializes in collaborating with regulators and official standards organizations to develop best practices, and research potential and existing threats across industrial automation systems and the industrial Internet of Things (IIoT). Meanwhile, the Global Research & Analysis Team (GReAT) focuses on wider cybersecurity megatrends and uncovers cyber-espionage campaigns, major malware, ransomware, and underground cyber-criminal trends across the world.

"The company has established its dominance in a yet uncontested market with emerging technology-based products such as the IoT secure gateway product based on its proprietary operating system KasperskyOS," noted Gnanajothi. "Leveraging superior technical performance, customer service focus, and client relationship, Kaspersky is all set to dominate the industrial (OT/ ICS) cybersecurity market in the long term."

"The protection of industrial organizations is one of our key business priorities. While these organizations enhance their OT security, our goal is to provide them with the solutions and expertise required for their level of maturity. We also understand that complex measures are crucial to ensuring any protection is effective, so Kaspersky’s portfolio also includes security services and training to improve expertise among IT security teams and OT engineers, as well as employee awareness. This Frost & Sullivan award confirms that we’re on the right track, so we’re extremely proud to receive such recognition," commented Georgy Shebuldaev, Head of Growth Center, Kaspersky.

Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.

Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.

About Frost & Sullivan

For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Contact:

Harley Gadomski
P: 12104778469
E: harley.gadomski@frost.com

About Kaspersky

Kaspersky is a global cybersecurity company founded in 1997. Kaspersky’s deep threat intelligence and security expertise is constantly transforming into innovative security solutions and services to protect businesses, critical infrastructure, governments and consumers around the globe. The company’s comprehensive security portfolio includes leading endpoint protection and a number of specialized security solutions and services to fight sophisticated and evolving digital threats. Over 400 million users are protected by Kaspersky technologies and we help 250,000 corporate clients protect what matters most to them. Learn more at www.kaspersky.com.

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PR Newswire

LONGi joined EV100 and EP100 Initiative to continue to Inject “Green Power” into Climate Action!

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Abstract: LONGi became the first Chinese company to join the RE100&EV00&EP100 initiatives, becoming the flagship of China’s climate action

SHANGHAI, Nov. 9, 2020 — On November 7, the grand occasion of the 3rd China International Import Expo (hereinafter referred to as "CIIE") was still in full swing. At the UK Pavilion, LONGi’s founder and president Li Zhenguo announced "Net Zero carbon Photovoltaic, created by LONGi" keynote speech, and announced that LONGi officially joined the "EV100" and "EP100" initiatives by the Climate Group. This is another feat in continuing to promote climate action after LONGi joined the RE100 initiative.

"We joined EV100 and are committed to laying appropriate chargers in all of our premises over the next decade to guide more than 50,000 employees around the world in converting their cars to EVs." Mr.Li Zhenguo said, "At the same time, we are anchoring the EP100’s development goals and are committed to installing Energy Management Systems in all of LONGi’s production and operation sites, the goal is to commit to a ten-year effort to achieve a 35% increase in energy productivity by 2025." Li Zhenguo also said "LONGi will continue to focus on global climate change and energy transformation, continuously reduce corporate greenhouse gas emissions, and achieve economic benefits and environmental protection goals."

Helen Clarkson, CEO of the Climate Group, expressed her congratulations to LONGi via video: "We are delighted to see LONGi become the first Chinese business to join all three of our business campaigns – on clean energy, clean transport and energy efficiency. They are showcasing the next steps for ambitious businesses in China."

Reducing emissions over the next decades will be crucial to achieving not just their own Nationally Determined Contributions (NDCs) but also the global target of 2C set under the Paris Agreement of 2015.

LONGi will uphold the vision of "Utilizing solar energy, Building a green world", by setting strategic goals, paying close attention to carbon emissions in the production and operation process, while sharing energy-saving, carbon emission reduction and new energy technology development experience to create a better living environment for mankind and inject "green power" into the sustainable development of the world.

Background:

EV100 is a global initiative led by international non-profit the Climate Group, which brings together companies committed to making electric transport the new normal by 2030. Over half of all new vehicles on the road go into company fleets, so it’s crucial that businesses lead the shift to electric vehicles (EVs) through their investment decisions and influence on millions of staff and customers worldwide.

EP100 is a global initiative by international non-profit the Climate Group, bringing together a growing group of energy-smart companies committed to doing more with less to improve their energy productivity. Members are driving tech innovation and reducing emissions while making substantial cost savings and improving competitiveness – inspiring others to follow their lead.

For more information, visit https://en.longigroup.com/

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PR Newswire

For 2020, The World Innovation Summit for Health (WISH) Delivers Leading Speakers and Compelling Discussions via an Immersive Virtual Platform

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DOHA, Qatar, Nov. 9, 2020 — The World Innovation Summit for Health (WISH) returns on 15 November, 2020, offering an impressive range of speakers, networking opportunities, discussions and presentations that explore global health challenges, and – all presented through a purpose-built 3D virtual platform.

Oscar-winning actor, humanitarian and activist, Morgan Freeman, keynote speaker at the World Innovation Summit for Health 2020 (Photo credit: Nigel Parry)
Oscar-winning actor, humanitarian and activist, Morgan Freeman, keynote speaker at the World Innovation Summit for Health 2020 (Photo credit: Nigel Parry)

In light of the current pandemic, the biennial global gathering of healthcare leaders is being held online, will be free to attend and, for the first time, members of the public are being invited to register. Additionally, WISH 2020 will take place over five days rather than the usual two, running from 15-19 November.

COVID-19 will feature prominently, as will a range of other global health challenges, including climate change and health, childhood toxic stress, mental health and digital technologies, and immunotherapy.

Confirmed speakers include the WHO director general, Dr. Tedros Adhanom Ghebreyesus; Sweden’s chief epidemiologist, Dr. Anders Tegnell; WHO COVID-19 special envoy, Dr. David Nabarro; award-winning, Sudan-based medic and humanitarian, Dr. Tom Catena; and California’s surgeon general Dr. Nadine Burke Harris.

Actor, activist and philanthropist Eva Longoria will add her voice to the discussions around the impact of the pandemic and global health inequalities experienced by women and girls of color. Iconic Oscar-winning actor Morgan Freeman will give a keynote speech around the topic of the need to focus on early childhood health in a world struggling to combat global warming and conflict.

More than 300 speakers and panelists have been confirmed so far, with more to be announced in the lead-up to the event.

Innovators and health entrepreneurs will be showcased in an expansive ‘Innovation Hub’ exhibition space, which will also feature organizations committed to building a healthier world, including The Carter Center, Save The Children, and UNICEF.

The WISH platform will also feature a library, a cinema, a networking area, and a wellness zone.

Sultana Afdhal, CEO of WISH, said: "This year more than ever, we have witnessed the importance of collaborating to tackle global health challenges. While we’re disappointed not to be able to welcome visitors to a physical event in Doha, we are looking forward to virtually welcoming many more people to WISH than would normally be possible."

WISH is an initiative of Qatar Foundation. More details regarding the summit, including details of how to register, can be found at www.wish.org.qa

Photo – https://mma.prnasia.com/media2/1329348/world_innovation_summit_morgan_freeman.jpg?p=medium600

 

PR Newswire

Hancom Group Enters the US Home Robot Market

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The AI-based Hancom Malang Malang Home Robot combines compelling assistive and edutainment services with facial and voice-recognition features

LAS VEGAS, Nov. 7, 2020 — Even though CES 2021 has gone virtual, the Robotics division of Korean technology giant Hancom (KOSDAQ: 030520, HAANSOFT) is putting its best physical foot forward. The company is announcing that its latest AI-powered robot, the Hancom Malang Malang Home Robot, will be available in the US home services market starting in 2021. Earlier generations of Hancom Robotics’ AI-based home services robots, including the Hancom Toki robot, have been widely used for several years in Korea and other markets.

Dr. Yonmook Park, CTO of Hancom Robotics says that "The Hancom Malang Malang Home Robot is the first AI edutainment service robot that utilizes the latest AI-based technologies for machine reading comprehension, Q&A, voice synthesis and HRI(Human Robot Interaction) to provide an unparalleled user-friendly experience. The incorporation of key innovations in AI-based recognition of faces, objects, and voices also add to the robot’s contextual intelligence so that it can adapt to the surroundings and interact with the user in a more personal way."

Up for a 2021 CES Innovation Award, the Hancom Malang Malang Home Robot uses AI to provide a wide range of assistive and edutainment services for children, teens, parents, even the elderly. Services include personal assistance, natural language cognitive Q&A, home patrol services, memory sharing, storytelling services provided in a family voice, collaborative educational content services, interactive entertainment services, and a variety of home IoT services.

"Hancom Robotics is in discussions with a variety of English-language educational content providers to deliver enriched educational contents," says Dr. Wonsok Yun, head of global business at Hancom Group. "The Home Robot’s built-in machine reading comprehension ability will allow it to analyze and understand the contents fully so that students of all ages can enjoy a remarkably immersive and interactive experience."

An informative and friendly companion

Physically, the 30-inch tall Hancom Malang Malang Home Robot’s head, arms, and feet are controlled by 10 motors that can respond with human-like gestures, emotions, and AI-controlled on-screen facial expressions. Natural language voice recognition technology enables the Hancom Malang Malang Home Robot to understand instructions and questions, and to respond to questions with contextually appropriate answers.

Technically, the Hancom Malang Malang Home Robot reflects nearly 20 years of R&D by the Hancom Robotics division and relies on next-generation AI-based human-robot interaction (HRI) machine reading comprehension (MRC), voice synthesis, facial-, object-, and voice-recognition technologies. The precursor to Hancom Malang Malang Home Robot, Hancom Robotics’ Toki home robot, has been a visible presence on the floor at CES since 2018 and is already widely used in a wide variety of educational institutes and web services, including KidZania, Yoon’s English School, Kakao, and Kidsnote in Korea.

Pricing and Availability

The Hancom Malang Malang Home Robot will be available in the U.S. through Amazon and other retail outlets in mid-2021. Pricing has yet to be announced.

Additional Hancom Robotics Resources

Please visit http://www.hancomrobotics.com/robotics_en/ for more details.

About Hancom Group and Hancom Robotics

Hancom Group (www.hancomgroup.com) is building a technologically innovative ecosystem that will lead the world into the 4th Industrial Revolution through the convergence of hardware and software solutions ranging from Drones and Robotics to Blockchain and AI.

Hancom Robotics (www.hancomrobotics.com), established in 2002, builds AI-based robots to enhance human-robot interaction and fulfill its goal of delivering "an AI robot in every home."

Related Links :

http://www.hancomgroup.com

Android, Mobile, News

OPPO A73 Officially in Malaysia; Goes on Sale on 11.11

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OPPO has officially launched its newest model OPPO A73 which will make its official debut exclusively on Shopee Malaysia. The sensually sleek design of the model is the latest entry into OPPO’s affordable A series which brings the company’s selfie and camera technologies to a more affordable price point.

The OPPO A73 has been designed with sleek curves to help with the ergonomics and grip of the phone. Coming in at only 152g and 7.5mm, the phone is one of the thinnest and lightest yet from OPPO’s A series. OPPO has also decided to add a touch of variety with a matte, leather-like finish for a more unique, premium finish. What’s more, the finish makes it fingerprint and scratch-resistant.

Source: OPPO

The guts of the OPPO A73 is an octa-core Snapdragon 662 processor capable of speeds of up to 2.5 GHz with 6GB of RAM and 128GB of internal memory. The phone will be launching with OPPO’s ColorOS 7.2 which runs on top of Android 10. It’s powered by a 4,105mAh battery with support for 30W VOOC Flash Charge promising a full charge in only 55 minutes. OPPO has also introduced safety features which include five independent thermistors to prevent the overheating while charging.

The OPPO A73 sports a 6.44-inch Full HD AMOLED display with a resolution of 2,4000×1080 pixels. The larger screen size provides users with a more immersive experience when it comes to consuming media and even gaming. It also comes with an under screen fingerprint sensor for quick unlock in addition to the face unlock features which come baked in to ColorOS.

A.I. Beauty Enabled Cameras

The main camera on the OPPO A73 is a quad camera setup OPPO calls a 16MP Ultra Wide-Angle quad-cam system. It consists of a 16MP main camera, a 119 degree 8MP wide-angle camera, a 2MP monochrome camera, and a 2MP retro camera. There are some optimized features which include filters and software enhancements to preserve skin tone. The cameras also come with OPPO’s now ubiquitous A.I. technology which it is calling A.I. Dazzle Color. This helps with advanced scene recognition and enhance captured pictures. For video recording, OPPO A73 come with a steady video feature to help stabilise your video recording for better quality with electronic image stabilization.

Source: OPPO

The front comes with a 16MP A.I. Beauty Beauty Camera to let you have the perfect selfie. Also, an ultra-sensitive f/2.0 aperture that offers you higher sensitivity and more clarity during low light conditions.

Pricing & Availability

Source: OPPO

The OPPO A73 will be available in three colours, Dynamic Orange, Navy Blue, and Classic Silver; priced at RM899 on the OPPO Official Online Store on Shopee and OPPO Official Website.

It will be available for pre-order from 3 to 10 November 2020. OPPO is offering free gift for the first 300 customers who purchase the OPPO A73. They will be entitled to a Weloop Neo Smartband worth RM389 and an OPPO Enco W11 that worth RM159. After this, the phone will be available for sale starting on 11 November, 2020 and will be available on the upcoming 11.11 sales.

PR Newswire

Toward the Digitalization of Energy: Huawei Launches Smart Modular Data Center 5.0

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SHENZHEN, China, Nov. 6, 2020 — On October 28, 2020, at the Digital Power Summit 2020 event, Huawei launched its next generation Smart Modular Data Center 5.0.

Zhenfu Fei, President of Huawei Data Center Facility Domain, commented: "With the development of Artificial Intelligence (AI), big data, cloud computing, and the Internet of Things (IoT), increasing demands are placed on data centers, in turn driving their advancement as the cornerstones of the intelligent digital world."

"Huawei Smart Modular Data Center 5.0 uses AI to build next level data center intelligence, making full use of our proprietary smart lithium battery — SmartLi — to implement full lithium battery backup."

Huawei Smart Modular Data Center 5.0

The solution builds a smart and green data center based on SmartLi inside, a big screen visualizing the digital twin, and AI-Robot intelligent Operations and Maintenance (O&M).

Changing the game, with SmartLi inside, now any room can be a data center. Indeed, with far lower requirements placed on net height, Huawei Modular Data Center 5.0 has no need for a traditional raised floor design. Instead, air conditioner pipes and strong- and weak-current cables are routed from the top, meaning that equipment can be accommodated in ceiling heights as low as 2.6 m, far below the 3m minimum height required for a traditional data center.

Elsewhere, the SmartLi Uninterruptible Power Supply (UPS) has extremely low load-bearing requirements — falling below 1000 kg/m2 for Tier III and Tier IV data centers in TIA-942 – meaning that the power supply system and Information Technology (IT) devices can be deployed in the same room, sharing the same space.

Doing away with the need for a separate power room, this high-density solution slashes the space needed for the lithium batteries by 75%, compared with lead-acid alternatives, meaning more revenue-generating IT cabinets can be deployed instead.

Finally, flexible capacity expansion becomes possible, with the Huawei Smart Modular Data Center 5.0 Solution — with SmartLi inside — offering a fully modular backup power supply. This brings into reality a truly modular system, from the power module to the battery module, where enterprises only pay for what they need now, significantly reducing Capital Expenditure (CAPEX), simply expanding when the need arises.

Simply put, the solution accommodates all budgets, dramatically reducing the size of the initial investment required.

Intelligence is visualized, making O&M more reliable, efficient, and simple.

Huawei Launches Smart Modular Data Center 5.0
Huawei Launches Smart Modular Data Center 5.0

Huawei Smart Modular Data Center 5.0 uses a 43-inch local touch screen to integrate Information & Communication Technology (ICT), AI algorithms, intelligent communications, and infrastructure. Digital twinning is implemented for physical modular data centers and intelligent i3 features — iPower, iCooling, and iManager — are also accommodated on the local smart screen:

  • iPower: Visualized data center power distribution links, key modules to systems, and predictive maintenance.
  • iCooling: Visualized cooling links and AI cooling energy efficiency optimization boost Power Usage Effectiveness (PUE) by 8%, to 15%.
  • iManager: Global data center visualization, diagnosis, and optimization reduce O&M costs by 35%.

In addition, facial recognition can be used to enable the access control function and log in to the management system, reinforcing security. The goal is to present intelligence, clearly and intuitively, accelerating O&M and, ultimately, bringing down costs.

Huawei’s Smart Modular Data Center 5.0 Solution marks a step forward on Huawei’s journey to promote and lead energy digitalization, building a greener and more intelligent world. Huawei Digital Power will continue to innovate and integrate ICT, AI algorithms, intelligent communications, and infrastructure to enable the automated driving of data centers, harnessing intelligence to create real-world value for customers.

About Huawei

Huawei is a leading global provider of information and communications technology (ICT) infrastructure and smart devices. With integrated solutions across four key domains – telecom networks, IT, smart devices, and cloud services – we are committed to bringing digital to every person, home and organization for a fully connected, intelligent world.

Huawei’s end-to-end portfolio of products, solutions and services are both competitive and secure. Through open collaboration with ecosystem partners, we create lasting value for our customers, working to empower people, enrich home life, and inspire innovation in organizations of all shapes and sizes.

At Huawei, innovation focuses on customer needs. We invest heavily in basic research, concentrating on technological breakthroughs that drive the world forward. We have more than 194,000 employees, and we operate in more than 170 countries and regions. Founded in 1987, Huawei is a private company wholly owned by its employees.

For more information, please visit Huawei online at www.huawei.com.

Related Links :

http://www.huawei.com/cn

PR Newswire

Sungrow Announces Roadshow Debuting the Latest 1500V Outdoor Central Inverter Solutions in the United States

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SAN FRANCISCO, Nov. 6, 2020 — Sungrow, the global leading inverter solution for renewables, is launching roadshows spanning the United States, debuting the latest 1500V central and string inverter solutions tailored to North America. With products on display in a semi-truck, the 17-stop tour started from Denver on November 2 will last until the end of December.

Sungrow Roadshow 2020
Sungrow Roadshow 2020

The outdoor central inverter solution SG3600UD-MV for 1500V system is optimized for utility-scale installations, featuring a high DC/AC ratio up to 2.0 and being compatible with bifacial modules and tracking systems, enabling high yields. The inverter is prefabricated with inputs for DC-coupled storage solutions which could be added at a later stage. In addition, it supports PCS mode so that the battery can be charged by grid and regulation will be more flexible. Furthermore, equipped with the self-constructed function, the inverter solution can construct AC power by controlling the inverter to work in voltage frequency mode, thereby supplying AC power for debugging of the equipment in advance, ensuring a shorter commissioning duration.

Also on display is the 1500V string inverter SG250HX, one of the best-selling PV inverter solutions for utility-scale applications with over 5 GW deployed till now.

"Sungrow is excited to debut the latest product portfolio in the creative and immersive roadshow amid pandemic. Keeping social distancing is our priority to maintain the health and safety of attendees on-site," said Hank Wang, General Manager of Sungrow Americas.

With a comprehensive local team offering professional full-service, Sungrow has extended partnership with a magnitude of EPCs, distributors and integrators. The celebrated projects across the regions include Techren 2, a 250 MWp project located in Nevada, largest solar projects under construction in Wyoming and Washington State and the biggest plant online in Rhode Island.

The Company continues an upward growth trajectory with an expected inverter shipment of nearly 5 GW in the United States this year, leading the market share locally.

About Sungrow

Sungrow Power Supply Co., Ltd ("Sungrow") is the world’s most bankable inverter brand with over 120 GW installed worldwide as of June 2020. Founded in 1997 by University Professor Cao Renxian, Sungrow is a leader in the research and development of solar inverters, with the largest dedicated R&D team in the industry and a broad product portfolio offering PV inverter solutions and energy storage systems for utility-scale, commercial, and residential applications, as well as internationally recognized floating PV plant solutions. With a strong 23-year track record in the PV space, Sungrow products power installations in over 120 countries, maintaining a worldwide market share of over 15%. Learn more about Sungrow by visiting www.sungrowpower.com.

 

Related Links :

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PR Newswire

Morning exercises to Dunhuang Dance: What are the students dancing for?

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BEIJING, Nov. 6, 2020 — A news report by China.org.cn on China’s radio calisthenics innovation:

 

A video of students in school uniforms "dancing" on the playground has recently gone viral.

This impressive scene takes place in a middle school in Dunhuang, northwest China’s Gansu province. During their morning break, the whole school would do radio calisthenics, and the "Dunhuang Dance" they were doing, is called the "Dance of Beautiful Dunhuang." This original set of exercise incorporates Dunhuang Dance and calisthenics, with different moves for boys and girls. The graceful and gentle moves for girls originate in the classic images of flying apsaras in the Dunhuang murals; while the boys’ moves are more masculine and are inspired by the images of divine warriors. The dance routine has been performed in this school for five years.

Radio calisthenics may be unfamiliar to some. In fact, the exercise originates in western countries. With no special venue or equipment required, this group workout is both easy to learn and suitable for young and old alike. Today, it is still practiced in countries such as Japan and China.

Radio calisthenics first appeared in China in the 1950s. At that time, the country had only recently emerged from war, and both its economy and people’s physical fitness were under-developed. The average life expectancy at the time was less than 40 years. Promoted by the Chinese government, radio calisthenics, which can help people keep fit and is also enjoyable, soon became popular all across the country. Nowadays, although people’s physical fitness in China has greatly improved, radio calisthenics has remained a constant fixture, especially in elementary and middle schools. As students in the same school share the schedule, the morning exercises have become an efficient workout. They not only help students develop a habit of exercising, but also help them "recharge their batteries" during breaks outside of P.E. lessons and sports activities.

Over time, radio calisthenics in China has become more than just a way to improve physical fitness. The Dance of Beautiful Dunhuang in that middle school helps showcase the local culture. In Inner Mongolia, a middle school has adapted Mongolian folk dance into radio calisthenics. And another school in Gansu province performs waist drum dances during its class break. Radio calisthenics has clearly become a new way of carrying forward traditional culture. In addition, radio calisthenics today puts more attention on having fun. Back in 2019, a school principal in Shanxi province taught his pupils to shuffle dance to help more students participate and fall in love with exercise.

Whether it is the Dunhuang Dance, waist drum performance, or shuffle dancing, what remains unchanged under the new forms of radio calisthenics is the great importance China places in helping its people keep fit.

China Mosaic
http://www.china.org.cn/video/node_7230027.htm

Morning exercises to Dunhuang Dance: What are the students dancing for?
http://www.china.org.cn/video/2020-11/06/content_76882791.htm

PR Newswire

ReneSola Announces Notice of Annual General Meeting

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STAMFORD, Conn., Nov. 6, 2020 — ReneSola Ltd ("ReneSola Power" or the "Company") (www.renesolapower.com) (NYSE: SOL), a leading fully integrated solar project developer, today announced that its annual general meeting (the "AGM") will be held at the office of Kirkland & Ellis International LLP at 11th Floor, HSBC Building, Shanghai IFC, 8 Century Avenue, Pudong New District, Shanghai, China at 2:00 p.m. (Beijing time) on Monday, December 21, 2020.

Copies of the notice of the AGM, proxy form, poll card and annual report are available on ReneSola Power’s investor relations website at http://ir.renesolapower.com.

AGM Resolutions

The following resolutions to be proposed at the AGM will require a simple majority of the votes cast by the shareholders present in person or by proxy:

  1. As a resolution of shareholders, to receive, consider and approve the consolidated financial statements of the Company for the year ended December 31, 2019, together with the reports of the auditors thereon.
  2. As a resolution of shareholders, to re-elect Mr. Wee Seng Tan and Mr. Martin Bloom as directors of the Company, who are retiring by rotation and offering themselves for re-election in accordance with the Company’s articles of association.
  3. As a resolution of shareholders, to further amend 2007 Share Incentive Plan (as amended and restated as of January 21, 2009, August 20, 2010 and August 29, 2016) to increase the maximum aggregate number of shares which may be issued under the 2007 Share Incentive Plan from 12, 500,000 shares to 22,500,000 shares.

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.

For investor and media inquiries, please contact:

In the United States:

ReneSola Power
Mr. Adam Krop
+1 (347) 577-9055 x115
IR.USA@renesolapower.com

The Blueshirt Group
Mr. Ralph Fong
+1 (415) 489-2195
ralph@blueshirtgroup.com

In China:

ReneSola Power
ir@renesolapower.com

The Blueshirt Group Asia
Mr. Gary Dvorchak, CFA
+86 (138) 1079-1480
gary@blueshirtgroup.com

Related Links :

http://www.renesolapower.com