Yearly Archives: 2020

PR Newswire

The9 Limited Filed Annual Report on Form 20-F for Fiscal Year 2019

Leave a comment

SHANGHAI, May 1, 2020 /PRNewswire/ — The9 Limited (Nasdaq: NCTY) (“The9” or the “Company”), an established Internet company, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2019 with the U.S. Security and Exchange Commission (“SEC”) on April 30, 2020. The annual report, which contains its audited financial statements, can be accessed on the SEC’s website at http://www.sec.gov as well as on the Company’s investor relations website at http://www.the9.com/en/. Shareholders may receive a hard copy of the annual report free of charge upon request.

About The9 Limited

The9 Limited (The9) is an Internet company based in China listed on Nasdaq in 2004. The9 aims to become a diversified high-tech Internet company.

Cision View original content:http://www.prnewswire.com/news-releases/the9-limited-filed-annual-report-on-form-20-f-for-fiscal-year-2019-301050760.html

PR Newswire

iClick Interactive Asia Group Limited Files 2019 Annual Report on Form 20-F

Leave a comment

HONG KONG, May 1, 2020 /PRNewswire/ — iClick Interactive Asia Group Limited (“iClick” or the “Company”) (NASDAQ: ICLK), an independent online marketing and enterprise data solutions provider in China, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2019 with the U.S. Securities and Exchange Commission (the “SEC”) on April 30, 2020.

The Company’s annual report on Form 20-F, which contains its audited consolidated financial statements, can be accessed on the SEC’s website at www.sec.gov as well as on the Company’s investor relations website at http://ir.i-click.com.

About iClick Interactive Asia Group Limited

iClick Interactive Asia Group Limited (NASDAQ: ICLK) is an independent online marketing and enterprise data solutions provider that connects worldwide marketers with audiences in China. Built on cutting-edge technologies, our proprietary platform possesses omni-channel marketing capabilities and fulfils various marketing objectives in a data-driven and automated manner, helping both international and domestic marketers reach their target audiences in China. Headquartered in Hong Kong, iClick was established in 2009 and is currently operating in ten locations worldwide including Asia and Europe. For more information, please visit ir.i-click.com.

Safe Harbor Statement

This announcement contains forward-looking statements, including those related to the Company’s business strategies, operations and financial performance. These statements 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. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s fluctuations in growth; its success in implementing its mobile and new retail strategies, including extending its solutions beyond its core online marketing business; its success in structuring a CRM & Marketing Cloud platform; relative percentage of its gross billing recognized as revenue under the gross and net models; its ability to retain existing clients or attract new ones; its ability to retain content distribution channels and negotiate favorable contractual terms; market competition, including from independent online marketing technology platforms as well as large and well-established internet companies; market acceptance of online marketing technology solutions and enterprise solutions; effectiveness of its algorithms and data engines; its ability to collect and use data from various sources; ability to integrate and realize synergies from acquisitions, investments or strategic partnership; the duration of the COVID-19 outbreak and its potential impact on the Company’s business and financial performance; fluctuations in foreign exchange rates; and general economic conditions in China and other jurisdictions where the Company operates; and the regulatory landscape in China and other jurisdictions where the Company operates. Further information regarding these and other risks is included in the Company’s annual report on Form 20-F and other filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

In China:

iClick Interactive Asia Group Limited

Lisa Li

Phone: +86-21-3230-3931 #892

E-mail: ir@i-click.com

In the United States:

Core IR

John Marco

Tel: +1-516-222-2560

E-mail: johnm@coreir.com

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/iclick-interactive-asia-group-limited-files-2019-annual-report-on-form-20-f-301050111.html

PR Newswire

FinVolution Group Files 2019 Annual Report on Form 20-F

Leave a comment

SHANGHAI, May 1, 2020 /PRNewswire/ — FinVolution Group (“FinVolution”, or the “Company”) (NYSE: FINV), a leading fintech platform in China, today announced it has filed its annual report on Form 20-F for the fiscal year ended December 31, 2019 with the Securities and Exchange Commission (the “SEC”) on April 30, 2020. The annual report on Form 20-F, which contains the Company’s audited consolidated financial statements, can be accessed on the SEC’s website at http://www.sec.gov and on the Company’s investor relations website at http://ir.finvgroup.com.

About FinVolution Group

FinVolution Group is a leading fintech platform in China connecting underserved individual borrowers with financial institutions. Established in 2007, the Company is a pioneer in China’s online consumer finance industry and has developed innovative technologies and has accumulated in-depth experience in the core areas of credit risk assessment, fraud detection, big data and artificial intelligence. The Company’s platform, empowered by proprietary cutting-edge technologies, features a highly automated loan transaction process, which enables a superior user experience. As of December 31, 2019, the Company had over 105.9 million cumulative registered users.

For more information, please visit http://ir.finvgroup.com.

For investor and media inquiries, please contact:

In China:
FinVolution Group
Head of Investor Relations
Jimmy Tan
Tel: +86 (21) 8030 3200- Ext 8601
E-mail: ir@ppdai.com

The Piacente Group, Inc. Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: paipaidai@tpg-ir.com

In the United States:
The Piacente Group, Inc. Brandi Piacente
Tel: +1-212-481-2050
E-mail: paipaidai@tpg-ir.com 

Cision View original content:http://www.prnewswire.com/news-releases/finvolution-group-files-2019-annual-report-on-form-20-f-301050626.html

PR Newswire

Creality, a Global 3D Printer Manufacturer, Printed Medical Supplies for Hospitals Amid Supply Chain Challenge During COVID-19

Leave a comment

SHENZHEN, China, May 1, 2020 /PRNewswire/ — Creality, a global 3D printer manufacturer based in Shenzhen, China, was providing 3D printed medical supplies for hospitals. According to Jack Chen, the CEO and co-founder of the company, Creality was utilizing 100 3D printers and TPU filaments to produce 3D printed face mask buckles, achieving a daily output of 1600 pieces. By March, the company donated 43,000 pieces of buckles to hospitals.

“The COVID-19 has taught us a lesson that 3D printing is so helpful to strategically address manufacturing risk by optimizing the agility of the supply chain. It carries out production at a lower economic scale and any point of need. We are glad that 3D printing is unleashing great potential during this crisis, and Creality is taking the lead to contribute more,” said Jack Chen. Creality has achieved a monthly shipment of over 50,000 pieces in March, which means that more makers are getting involved in making PPE on 3D printers.

The COVID-19 is becoming such a challenge for countries across the world as the situation is getting more severe. During the time, 3D printing has played an important role in mitigating personal protective equipment (PPE) shortage. Enterprises and civil communities are united to make 3D printed medical supplies for hospitals and clinics.

The Supply Chain Challenge During COVID-19

The rapid development of globalization enables developed countries to relocate production into other countries with lower labor costs or sufficient raw materials, which is so-called offshore manufacturing. However, the present global crisis is exposing the vulnerabilities concerning this-type supply chain. The lockdowns have multiplied the problems of the slowdown in production and suspensions in transportation. Therefore, countries that highly rely on offshore manufacturing are facing problems of improper resource allocation and incomplete manufacturing chain, and countries in less developed areas such as Africa are encountering plight of insufficient production capacity and technology limit.

Many manufacturers are finding temporary alternative solutions to ride out this worldwide challenge. Thanks to the advanced technologies such as IoT, AI, robotics, and Additive manufacturing, enterprises can effectively avoid negative effects caused by “black swan” events like COVID-19.

3D Printing is Making a Difference

Recently, positive reports about 3D printed PPE to help combat COVID-19 have unveiled great advantages of 3D printing.

During the pandemic, researchers made 3D printed COVID-19 infected lung model to perform studies, enterprises made 3D printed isolation wards to accommodate patients, and civil communities made 3D printed face shields to mitigate the PPE shortage.

David Sims, the BBC news reported 3D printing enthusiast in Wales, UK, worked on making 3D printed face shields on Creality Ender-3 together with local volunteers to protect local NHS doctors fighting at the epidemic frontline. The team has donated thousand pieces of face shields to the local NHS.

It is proven that 3D printing is an extremely helpful stopgap in rapid design and manufacturing tools for both organizations and individuals, making it possible to produce large batches of equipment in a short period. During the COVID-19, 3D printing has unleashed great power in providing self-made daily supplies such as door handles, toys, or gifts.

Long-run Benefits of 3D Printing

Expect for the known-to-all advantages like cost-saving, time-saving, rapid-prototyping, 3D printing also accelerates digitalizing the traditional mass manufacturing and infrastructure construction. 3D printing breaks the limits of time and space to improve production capacity and reduce risks to fluctuations in demand. With the advantages of distributive manufacturing, 3D printing can realize customizable production and ensure production safety at the same time. As an additive in mass manufacturing, it will greatly improve business flexibility, allowing manufacturers to increase their ability to quickly respond to the possible crises. 

In April, Creality announced to make a big investment to Wuhan to build the world’s largest 3D printer production facility in recent years, aiming to achieve a total output of 2 million pieces of 3D printers within the next three years. Now the company is holding a Kickstarter campaign for its latest product CR-6 SE featuring an innovative leveling-free tech, which will be priced lower than 300$ at its super early bird price. Bearing the spirit of 3D printing industry evangelist, Creality has always devoted to spreading the convenience of 3D printing technology with the most affordable and accessible 3D printing solutions.

About Creality

Creality has accumulated more than 5 years of experience in 3D printing industry since its establishment in 2014. The company dedicates to providing customers the most affordable 3D printing solutions in high quality. Creality achieves an annual shipment of 800,000 units, and exports the products to over 100 countries.

For more information, please access to CRAELITY official website: http://www.creality.com

Cision View original content:http://www.prnewswire.com/news-releases/creality-a-global-3d-printer-manufacturer-printed-medical-supplies-for-hospitals-amid-supply-chain-challenge-during-covid-19-301049433.html

PR Newswire

Planful Welcomes Shane Hansen as Chief Financial Officer

Leave a comment

Hansen Brings Significant Go-to-Market, Analytics, and Business Performance Expertise to New Role

REDWOOD CITY, California, April 30, 2020 /PRNewswire/ — Planful, Inc. (formerly Host Analytics), a leading financial planning and analysis (FP&A) cloud platform provider, today announced that Shane Hansen has joined the company as Chief Financial Officer (CFO). 

With 15+ years of finance and technology experience, Hansen has seen firsthand why legacy approaches to planning, forecasting, reporting, and analytics are difficult to optimize and scale in a world rapidly moving to cloud technologies. Hansen will focus on long-term growth for the company to meet the needs of the underserved mid-to-enterprise-sized companies looking to modernize their back-office technologies.

“We’re excited to welcome a brilliant, experienced executive like Shane to the Planful team,” said Grant Halloran, Chief Executive Officer, Planful. “Shane is an excellent fit from a team culture perspective. His approach embodies the savvy financial planning professionals we serve, and he thoroughly understands the software market’s growth levers and how companies can capitalize on opportunities and achieve success.”

Prior to joining Planful, Hansen served as Divisional CFO for Vivint Smart Home, where he had previously served as Vice President (VP) of Finance, Strategy, Innovation & Business Development. Before that role, Hansen held several key financial analytics, go-to-market, and value creation leadership positions with security software leader Symantec, steadily rising through the ranks to become the VP of Finance, Enterprise Security.

Earlier in his career, Hansen served as a financial analyst, law clerk, and consultant/developer for various organizations after completing a Fulbright fellowship. Hansen’s impressive academic credentials include an MBA from the Wharton School, a JD from the University of Pennsylvania, and a BA in Russian and international development from Brigham Young University. 

“I’m thrilled to be joining the team at Planful because of the strong growth trajectory of the FP&A cloud software market, the power of Planful’s world-class product offering, and experienced industry leadership,” Hansen said. “As we help customers weather uncertain business conditions with a Continuous Planning approach, we’re also positioning Planful for phenomenal success within the cloud FP&A solutions market with our unique platform.”

About Planful
 Planful is a leading financial planning and analysis (FP&A) cloud platform. Planful delivers a vision of Continuous Planning by accelerating the end-to-end FP&A process and fostering business-wide participation in agile planning and decision-making. More than 800 customers including Bose, Boston Red Sox, Del Monte, TGI Friday’s, and 23andMe rely on Planful for financial planning and budgeting, dynamic operational planning, financial consolidations, reporting, and visual analytics. Planful is a private company backed by Vector Capital, a leading global private equity firm specializing in transformational investments in established technology businesses. Learn more at www.planful.com.

Additional Resources
 Join the FP&A Community on Slack
Join the FP&A Live Roundtable on Zoom
View FP&A Resources to Navigate an Uncertain World
Join the conversation on social media: LinkedIn, Twitter, or Facebook.

Contact
 press@planful.com

Logo – https://techent.tv/wp-content/uploads/2020/04/planful-welcomes-shane-hansen-as-chief-financial-officer.jpg  

PR Newswire

GigaMedia Announces First-Quarter 2020 Financial Results

Leave a comment

TAIPEI, April 30, 2020 /PRNewswire/ — GigaMedia Limited (NASDAQ: GIGM) today announced its first-quarter 2020 unaudited financial results.

Comments from Management

For the first quarter of 2020, GigaMedia reported revenues of $1.60 million, with a gross profit of $0.93 million, an operating loss of $0.64 million and the net loss of $0.29 million. Total revenues increased by 6.6% if compared to the previous quarter, and net loss was similar.

“The pandemic of COVID-19 only mildly affected our operations in Taiwan and Hong Kong,” said GigaMedia CEO James Huang. “While it has indeed caused disruptions to our offline marketing and operating activities, we managed to mitigate its impact, and continued improving the productivity in our existing products and making progress in developing new offerings.”

First Quarter Overview

  • Operating revenue increased by $0.10 million or 6.6% in quarter-on-quarter comparison, and increased by 8.2% in year-over-year comparison.
  • Loss from operations amounted to approximately $0.64 million and net loss approximately $0.29 million, comparable to the fourth quarter of 2019 and slightly improved when compared with the same quarter last year.

Unaudited Consolidated Financial Results

GigaMedia Limited is a diversified provider of digital entertainment services. GigaMedia’s digital entertainment service business FunTown develops and operates a suite of digital entertainments in Taiwan and Hong Kong, with focus on mobile games and casual games. Unaudited consolidated results of GigaMedia are summarized in the table below.

For the First Quarter

GIGAMEDIA 1Q20 UNAUDITED CONSOLIDATED FINANCIAL RESULTS

(unaudited, in US$ thousands, except for percentages and per
share amounts)

1Q20

4Q19

Change

(%)

1Q20

1Q19

Change

(%)

Revenues

$

1,604

$

1,504

6.6

%

$

1,604

$

1,483

8.2

%

Gross Profit

927

1,025

(9.6)

%

927

738

25.6

%

Loss from Operations

(640)

(399)

NM

(640)

(949)

NM

Net Loss Attributable to GigaMedia

(286)

(271)

NM

(286)

(532)

NM

Loss Per Share Attributable to GigaMedia,
Diluted

(0.03)

(0.02)

NM

(0.03)

(0.05)

NM

EBITDA(A)

(536)

(574)

NM

(536)

(876)

NM

Cash, Cash Equivalents and Restricted Cash

57,311

58,274

(1.7)

%

57,311

58,494

(2.0)

%

NM= Not Meaningful

(A) EBITDA (earnings before interest, taxes, depreciation, and amortization) is provided as a supplement to results provided in
accordance with U.S. generally accepted accounting principles (“GAAP”). (See, “Use of Non-GAAP Measures,” for more details.)

First-Quarter Financial Results

  • Consolidated revenues for the first quarter of 2020 increased by 6.6% quarter-on-quarter to $1.60 million, from $1.50 million in the fourth quarter of 2019, or by 8.2% year-over-year from $1.48 million in the first quarter of 2019.
  • Consolidated gross profit decreased to $0.93 million from $1.03 million in last quarter but increased by 25.6% from $0.74 million in the same quarter last year.
  • Consolidated operating expenses were $1.57 million in the first quarter of 2020, representing an increase by $0.14 million quarter-on-quarter, or a decrease by $0.12 million from $1.69 million year-over-year.
  • Loss from operation for the first quarter of 2020 was approximately $0.64 million, comparable to a loss of $0.40 million last quarter and approximately a loss of $0.95 million in the first quarter of 2019.
  • Net loss for the first quarter of 2020 was $0.29 million, approximately comparable to such amount in the fourth quarter of 2019, and improved by $0.25 million when compared with the net loss of $0.53 million in the same quarter last year.
  • Cash, cash equivalents and restricted cash at the first quarter-end of 2020 accounted for $57.31 million, which decreased by $0.96 million from the end of 2019.

Financial Position

GigaMedia maintained its solid financial position, with cash, cash equivalents and restricted cash amounting to $57.31 million, or approximately $5.19 per share as of March 31, 2020.

Business Outlook

The following forward-looking statements reflect GigaMedia’s expectations as of April 30, 2020. Given potential changes in economic conditions and consumer spending, the evolving nature of digital entertainments, and various other risk factors, including those discussed in the Company’s 2019 Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission as referenced below, actual results may differ materially.

In following quarters, we will continue developing new offerings to enhance the variety of our product lines, while our marketing strategies will adjust swiftly, as in the current coronavirus situation, stay-home requirement may boost sales of online business on the one hand, but prevailing economic uncertainties and weakened consumer confidence may discourage spending on entertainment on the other hand.

“In this time of uncertainty, we don’t just wait out the storm. We practice frugality and adapt proactively while focusing on sharpening our core competence,” stated CEO James Huang, “so that we will get well prepared when the storm is over.”

Meanwhile, our business strategies always include expanding through mergers and acquisitions. “We will also continue reviewing potential targets that have strategic capacity to accelerate our growth and enhance shareholders’ value,” said CEO James Huang.

Use of Non-GAAP Measures

To supplement GigaMedia’s consolidated financial statements presented in accordance with U.S. GAAP, the company uses the following measure defined as non-GAAP by the SEC: EBITDA. Management believes that EBITDA (earnings before interest, taxes, depreciation, and amortization) is a useful supplemental measure of performance because it excludes certain non-cash items such as depreciation and amortization and that EBITDA is a measure of performance used by some investors, equity analysts and others to make informed investment decisions. EBITDA is not a recognized earnings measure under GAAP and does not have a standardized meaning. Non-GAAP measures such as EBITDA should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, other financial measures prepared in accordance with GAAP. A limitation of using EBITDA is that it does not include all items that impact the company’s net income for the period. Reconciliations to the GAAP equivalents of the non-GAAP financial measures are provided on the attached unaudited financial statements.

About the Numbers in This Release

Quarterly results

All quarterly results referred to in the text, tables and attachments to this release are unaudited. The financial statements from which the financial results reported in this press release are derived have been prepared in accordance with U.S. GAAP, unless otherwise noted as “non-GAAP,” and are presented in U.S. dollars.

Q&A

For Q&A regarding the first quarter 2020 performance upon the release, investors may send the questions via email to IR@gigamedia.com.tw, and the responses will be replied individually.

About GigaMedia

Headquartered in Taipei, Taiwan, GigaMedia Limited (Singapore registration number: 199905474H) is a diversified provider of digital entertainment services. GigaMedia’s digital entertainment service business develops and operates a suite of digital entertainments in Taiwan and Hong Kong, with focus on browser/mobile games and casual games. More information on GigaMedia can be obtained from www.gigamedia.com.

The statements included above and elsewhere in this press release that are not historical in nature are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding expected financial performance (as described without limitation in the “Business Outlook” section and in quotations from management in this press release) and GigaMedia’s strategic and operational plans. These statements are based on management’s current expectations and are subject to risks and uncertainties and changes in circumstances. There are important factors that could cause actual results to differ materially from those anticipated in the forward looking statements, including but not limited to, our ability to license, develop or acquire additional online games that are appealing to users, our ability to retain existing online game players and attract new players, and our ability to launch online games in a timely manner and pursuant to our anticipated schedule. Further information on risks or other factors that could cause results to differ is detailed in GigaMedia’s Annual Report on Form 20-F filed in April 2020 and its other filings with the United States Securities and Exchange Commission.

(Tables to follow)

GIGAMEDIA LIMITED

CONSOLIDATED STATEMENTS OF OPERATIONS

Three months ended

3/31/2020

12/31/2019

3/31/2019

unaudited

unaudited

unaudited

USD

USD

USD

Operating revenues

Digital entertainment service revenues

$

1,603,904

$

1,503,848

$

1,483,233

Operating costs

Cost of digital entertainment service revenues

677,194

479,341

744,901

Gross profit

926,710

1,024,507

738,332

Operating expenses

Product development and engineering expenses

328,815

213,241

320,494

Selling and marketing expenses

410,475

427,090

526,003

General and administrative expenses

824,442

571,562

835,987

Impairment losses

—

208,921

—

Other

2,984

2,957

5,214

1,566,716

1,423,771

1,687,698

Loss from operations

(640,006)

(399,264)

(949,366)

Non-operating income (expense)

Interest income

255,719

322,587

381,799

Foreign exchange (loss) gain – net

98,887

(84,774)

(11,402)

Other – net

(298)

(110,020)

46,912

354,308

127,793

417,309

Loss before income taxes

(285,698)

(271,471)

(532,057)

Income tax benefit (expense)

—

—

—

Net loss attributable to shareholders of GigaMedia

$

(285,698)

$

(271,471)

$

(532,057)

Loss per share attributable to GigaMedia

Basic and Diluted:

$

(0.03)

$

(0.02)

$

(0.05)

Weighted average shares outstanding:

Basic

11,052,235

11,052,235

11,052,235

Diluted

11,052,235

11,052,235

11,052,235

GIGAMEDIA LIMITED

CONSOLIDATED BALANCE SHEETS

3/31/2020

12/31/2019

3/31/2019

unaudited

audited

unaudited

USD

USD

USD

Assets

Current assets

Cash and cash equivalents

$

56,777,472

$

57,742,696

$

57,976,503

Accounts receivable – net

355,225

368,445

589,520

Prepaid expenses

276,010

112,243

208,919

Restricted cash

533,436

530,984

517,815

Other receivables

238,396

261

375,192

Other current assets

148,757

138,601

127,377

Total current assets

58,329,296

58,893,230

59,795,326

Property, plant & equipment – net

8,117

—

100,148

Intangible assets – net

17,965

—

32,492

Prepaid licensing and royalty fees

210,530

43,915

383,681

Other assets

285,319

285,071

1,034,278

Total assets

$

58,851,227

$

59,222,216

$

61,345,925

Liabilities and equity

Short-term borrowings

$

—

$

—

$

—

Accounts payable

60,405

64,337

98,921

Accrued compensation

156,948

200,455

134,243

Accrued expenses

1,449,553

1,079,234

1,228,483

Unearned revenue

1,285,399

1,364,749

1,290,792

Other current liabilities

715,877

874,434

177,073

Total current liabilities

3,668,182

3,583,209

2,929,512

Other liabilities

7,337

94,385

779,919

Total liabilities

3,675,519

3,677,594

3,709,431

Total equity

55,175,708

55,544,622

57,636,494

Total liabilities and equity

$

58,851,227

$

59,222,216

$

61,345,925

GIGAMEDIA LIMITED

Reconciliations of Non-GAAP Results of Operations

Three months ended

3/31/2020

12/31/2019

3/31/2019

unaudited

unaudited

unaudited

USD

USD

USD

Reconciliation of Net Income (Loss) to EBITDA

Net loss attributable to GigaMedia

$

(285,698)

$

(271,471)

$

(532,057)

Depreciation

354

10,888

25,388

Amortization

4,657

9,669

12,899

Interest income

(255,719)

(322,587)

(381,799)

Interest expense

—

—

—

Income tax (benefit) expense

—

—

—

EBITDA

$

(536,406)

$

(573,501)

$

(875,569)

Cision View original content:http://www.prnewswire.com/news-releases/gigamedia-announces-first-quarter-2020-financial-results-301050152.html

PR Newswire

Shenzhen Daily: Innovation-driven growth marks 5th anniversary of Qianhai

Leave a comment

SHENZHEN, China, April 30, 2020 /PRNewswire/ — A news report by Shenzhen Daily on the 5th anniversary of the inauguration of the Qianhai & Shekou Free Trade Area.

Qianhai-headquartered WeBank has grown into a top private bank in China over the past five years since its establishment, servicing over 200 million individual clients with its inclusive financial system.

Set up in December 2014 as one of the country’s first private banks and the first Internet-only bank, WeBank has become the world’s leading digital bank, as claimed by the Massachusetts-based Forrester Research, one of the most influential research and advisory firms.

An entrance to Qianhai & Shekou Area of China (Guangdong) Pilot Free Trade Zone (Qianhai FTZ).
An entrance to Qianhai & Shekou Area of China (Guangdong) Pilot Free Trade Zone (Qianhai FTZ).

Figures show that the digital-only bank had 220 billion yuan (US$31.03 billion) in assets by the end of 2018. Its net profit reached 2.47 billion yuan in 2018, surpassing the total profit of 1.98 billion yuan by the 16 other private banks set up at the same time as WeBank.

The digital bank would not have made it without the innovation-oriented business environment in Qianhai, part of the China (Guangdong) Pilot Free Trade Zone inaugurated April 27, 2015, said Wan Jun, chairman of the board of supervisors of WeBank.

WeBank is one of the enterprises that have gone through rapid development in Qianhai, which Shenzhen Special Zone Daily said has become the core engine for high-quality development of the Guangdong-Hong Kong-Macao Greater Bay Area, in the past five years.

Official statistics show that the added value of Qianhai-registered enterprises has grown 150 percent over the past several years, while its tax revenue has doubled. The fixed asset investment in Qianhai has gone up 90 percent, and it contributed 2.4 percent of the 2019 GDP of Guangdong Province. The 2019 Guangdong GDP topped the nation at 10.77 trillion yuan.

Qianhai has reported a 152 percent growth in foreign trade over the past five years. The total volume of imports and exports in its Qianhaiwan Bonded Free Trade Port Area reached 128.55 billion yuan last year, up 233 percent from 55.2 billion yuan in its inaugural year.

Liu Yuli, deputy general manager of YHGlobal based in Qianhaiwan port, said her company recorded over 200% year-on-year growth in the first quarter of the year despite the economic uncertainty caused by the COVID-19 pandemic.

The total volume of imports and exports of YHGlobal, a Hurun-listed unicorn engaged in the global supply chain, reached 59.4 billion yuan last year, topping Shenzhen’s supply-chain enterprises and ranked No. 13 nationally, according to Liu.

She attributed the eye-catching growth of YHGlobal to a series of innovative customs policies adopted to facilitate cross-border trade.

“Take the global central warehouse initiation as an example,” Liu said. “The global central warehouse allows the storage of different kinds of goods — including bonded and nonbonded goods, and imported and exported goods — in the same warehouse in the Qianhaiwan port, greatly reducing the operational costs and facilitating the flow of cross-border goods.”

Liu said Shekou Customs has created many other favorable policies to address the actual needs of importers and exporters within their business operations, which also helps them lure more new clients.

The high-quality economic development in Qianhai is due in large part to institutional innovations that the Qianhai authority has committed to since its establishment.

According to official statistics, Qianhai has rolled out 106 institutional innovations last year, bringing the total number to 520 in five years’ time. Of them, 50 have been promoted nationwide, five in the Greater Bay Area, 69 in Guangdong Province and 166 have been duplicated for use in Shenzhen.

Qianhai has topped the country for the past two consecutive years in the national innovation index compiled by the Guangzhou-based Sun Yat-sen University.

Efforts by the Qianhai authority to create a fair, transparent business environment has paid off. The actual use of foreign investment in the free trade area has grown 187 percent in five years, accounting for 21 percent of the total foreign investments made in Guangdong last year, up from the 8.3 percentage points in the first year of its establishment.

Nearly 1,400 new Hong Kong-funded enterprises were registered in Qianhai last year, bringing in 88 billion yuan in registered capital. By the end of 2019, Qianhai had become home to 12,102 Hong Kong-funded companies, up 420% from 2,313 at the end of 2015. The Hong Kong-funded companies have brought in a total of 1.3 trillion yuan in registered capital.

Qianhai was ranked 51st in the world business environment list by PricewaterhouseCoopers in 2017, then jumped to 31st in 2018 and 23rd last year.

Over the past five years, a total of 59 new roads, 36 kilometers in length, have been opened to traffic and 179 new office buildings have been put into use, offering companies 3.13 million square meters of office floor space in Qianhai.

http://szdaily.sznews.com/PC/layout/202004/27/node_02.html#content_851012

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/shenzhen-daily-innovation-driven-growth-marks-5th-anniversary-of-qianhai-301050240.html

PR Newswire

58.com Announces Receipt of Updated Preliminary Non-Binding Proposal

Leave a comment

BEIJING, April 30, 2020 /PRNewswire/ — 58.com Inc. (NYSE: WUBA) (“58.com” or the “Company”), China’s largest online classifieds marketplace, today announced that its Board of Directors (the “Board”) has received a preliminary non-binding proposal letter dated April 30, 2020 (the “Proposal Letter”) from Warburg Pincus Asia LLC, General Atlantic Singapore Fund Pte. Ltd., Ocean Link Partners Limited, and Mr. Jinbo Yao, Chairman of the Board and Chief Executive Officer of 58.com (collectively, the “Consortium”), with respect to the proposed  “going-private” transaction (the “Proposed Transaction”) wherein the Consortium proposes to acquire all of the outstanding ordinary shares of the Company, including Class A ordinary shares represented by the American Depositary Shares of the Company (the “ADSs”, each representing two Class A ordinary shares) for US$27.50 in cash per ordinary share, or US$55.00 in cash per ADS. A copy of the proposal letter is attached hereto as Exhibit A. The Consortium was formed in furtherance of the proposed transaction initially set forth in the preliminary non-binding proposal letter submitted by Ocean Link Partners Limited to the Company on April 2, 2020, and the Proposal Letter updates the initial proposal letter accordingly. As previously announced, the Board had formed a committee of two independent directors (the “Special Committee”) to evaluate the Proposed Transaction, or any alternative strategic option that the Company may pursue. The Special Committee will continue to evaluate the Proposed Transaction in light of the latest development.

The Board and the Special Committee caution the Company’s shareholders and others considering trading the Company’s securities that no decisions have been made with respect to the Proposed Transaction or any alternative strategic option that the Company may pursue. There can be no assurance that any definitive offer will be received, that any definitive agreement will be executed relating to the Proposed Transaction or that any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to any transaction, except as required under applicable law.

About 58.com Inc.

58.com Inc. (NYSE: WUBA) operates China’s largest online classifieds marketplace, as measured by monthly unique visitors on both its www.58.com website and mobile applications. The Company’s online marketplace enables local business users and consumer users to connect, share information and conduct business. 58.com’s broad, in-depth and high-quality local information, combined with its easy-to-use website and mobile applications, has made it a trusted marketplace for consumers. 58.com’s strong brand recognition, large and growing user base, merchant network and massive database of local information create a powerful network effect. For more information on 58.com, please visit http://www.58.com.

Safe Harbor Statements

This press release contains forward-looking statements made under the “safe harbor” provisions of 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,” “confident” and similar statements. 58.com may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about 58.com’s beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: 58.com’s goals and strategies; its future business development, financial condition and results of operations; its ability to retain and grow its user base and network of local merchants for its online marketplace; the growth of, and trends in, the markets for its services in China; the outbreak of COVID-19 or other health epidemics in China or globally; the demand for and market acceptance of its brand and services; competition in its industry in China; its ability to maintain the network infrastructure necessary to operate its website and mobile applications; relevant government policies and regulations relating to the corporate structure, business and industry; and its ability to protect its users’ information and adequately address privacy concerns. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and 58.com does not undertake any obligation to update such information, except as required under applicable law.

For more information, please contact:

58.com Inc.
ir@58.com

Christensen

In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: carnell@christensenir.com

In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com

Exhibit A
Updated Preliminary Non-Binding Proposal
 to Acquire 58.com Inc.

April 30, 2020

The Board of Directors
58.com Inc.
Building 105, 10 JiuXianQiao North Road Jia
Chaoyang District, Beijing 100015
The People’s Republic of China

Dear Board Members,

Reference is made to the preliminary non-binding proposal dated April 2, 2020 (the “Original Proposal”, as amended and updated by this letter and as may be further amended and updated from time to time, the “Proposal”) from Ocean Link Partners Limited (together with its affiliated investment entities, “Ocean Link”) to acquire all of the outstanding ordinary shares of 58.com Inc. (the “Company”) in a going private transaction (the “Transaction”).

We, Warburg Pincus Asia LLC (together with its affiliated investment entities, “Warburg Pincus”), General Atlantic Singapore Fund Pte. Ltd. (together with its affiliated investment entities, “General Atlantic”), Ocean Link, and Mr. Jinbo Yao, the Chief Executive Officer of the Company (collectively, the “Initial Consortium Members”), are pleased to update the Proposal to, among other things, inform you that we are forming a buyer consortium with respect to the proposed Transaction (the “Consortium”).

We believe that our Proposal provides an attractive opportunity for the Company’s shareholders. The Proposal represents a premium of approximately 17.8% to the closing price of the Company’s ADSs on the trading day immediately preceding the Original Proposal and a premium of 17.1% to the volume-weighted average closing price during the last 15 calendar days preceding the Original Proposal.

Set forth below are the updated primary terms of our Proposal:

1. Consortium Members.  The Initial Consortium Members have agreed to work exclusively with each other in pursuing the proposed Transaction. The Initial Consortium Members in the aggregate hold approximately 44.1% of the total voting power of the Company’s issued and outstanding shares.

2. Purchase Price. We propose to acquire all of the outstanding ordinary shares of the Company and the American Depositary Shares of the Company (each, an “ADS”, representing two Class A ordinary shares of the Company). The consideration payable for each ADS to be acquired will be US$55.00 in cash, or US$27.50 in cash per ordinary share (in each case other than those ADSs or ordinary shares that may be rolled over in connection with the proposed Transaction).

3. Funding. We intend to fund the Transaction with a combination of equity and debt financing, and we expect the commitments for the required funding, subject to the terms and conditions set forth in the equity and debt financing documents, to be in place when the definitive agreements for the Transaction (the “Definitive Agreements”) are signed.  Equity financing will be provided by the Initial Consortium Members and additional members that may be admitted into the Consortium.  We are confident of our ability to secure adequate financing for the Transaction in a timely manner.

4. Due Diligence. We, along with our advisors, are prepared to move expeditiously to carry out our due diligence on the Company.  The Initial Consortium Members, together with our advisors, have significant experience in structuring and consummating transactions of this type and believe that we will be in a position to complete customary due diligence for the Transaction in a timely manner and in parallel with negotiation of the Definitive Agreements.

5. Definitive Agreements. We are prepared to promptly negotiate and finalize the Definitive Agreements. These documents will provide for representations, warranties, covenants and conditions which are typical, customary and appropriate for transactions of this type.

6. Process. We believe that the Transaction will provide superior value to the Company’s shareholders. We understand that the Company’s Board of Directors has established a special committee (the “Special Committee”) comprised of independent directors to evaluate our Proposal and any alternative strategic option that the Company may pursue.  We look forward to promptly engaging with the Special Committee and its advisors to discuss our Proposal. 

In considering our Proposal, you should be aware that the Initial Consortium Members do not intend to sell their shares in the Company to any third party or support any competing bid to our Proposal while remaining a member of the Consortium.

7. About Warburg Pincus.  Warburg Pincus is a leading global private equity firm focused on growth investing. Warburg Pincus has more than $54 billion in private equity assets under management. Warburg Pincus’ active portfolio of more than 185 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 19 private equity funds, which have invested more than $83 billion in over 895 companies in more than 40 countries. Warburg Pincus is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore.

8. About General Atlantic. General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic has more than 180 investment professionals based in New York, Greenwich, Palo Alto, São Paulo, London, Munich, Mexico City, Beijing, Shanghai, Hong Kong, Mumbai, Singapore and Jakarta. General Atlantic combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with management teams to build exceptional businesses worldwide. General Atlantic has $37 billion in assets under management, and the firm’s unique capital base is comprised of long-term commitments primarily from wealthy families and large charitable foundations; this affords General Atlantic with flexibility in investment structures and time horizon, enabling a strong partnership approach with growth companies.

9. About Ocean Link. Ocean Link is a private equity firm with a focus on China’s consumer, travel and TMT sectors. Ocean Link currently manages two USD funds and an RMB Fund. With teams in Shanghai, Beijing and Hong Kong, Ocean Link invests in the leading companies across the value chain and sub-verticals of the abovementioned sectors.

10. No Binding Commitment. This letter constitutes only a preliminary indication of our interest, and does not constitute any binding commitment with respect to the Transaction or in connection with the Company’s securities. A binding commitment will result only from the execution of Definitive Agreements, and then will be on terms and conditions provided in such documentation.

11. Governing Law. This letter shall be governed by, and construed in accordance with, the laws of the State of New York without regard to the conflicts of law principles thereof.

We would like to express our commitment to working collaboratively with the Special Committee and its advisors to bring the Transaction to a successful and timely conclusion. Should you have any questions regarding our Proposal, please do not hesitate to contact us.

Sincerely,

Warburg Pincus Asia LLC
By: Julian Cheng, Managing Director
/s/ Julian Cheng

General Atlantic Singapore Fund Pte. Ltd.
By: Ong Yu Huat, Director
/s/ Ong Yu Huat

Ocean Link Partners Limited
By: Tony Tianyi Jiang, Partner
/s/ Tony Tianyi Jiang

Jinbo Yao
/s/ Jinbo Yao

Cision View original content:http://www.prnewswire.com/news-releases/58com-announces-receipt-of-updated-preliminary-non-binding-proposal-301050221.html

PR Newswire

With Wi-Fi Capacity Stressed by Remote Workforces and Changing Connectivity Needs, 6 GHz will Provide Faster, Lower Latency, and More Reliable Wi-Fi Coverage

Leave a comment

New ABI Research whitepaper explores why 6 GHz is so important to the future of Wi-Fi

OYSTER BAY, New York, April 30, 2020 /PRNewswire/ — The need for faster, more reliable, more efficient, and more widespread Wi-Fi coverage is becoming increasingly vital in a world filled with more Wi-Fi devices at both ends of the performance spectrum, from high-throughput and low-latency applications to battery-constrained Internet of Things (IoT) devices. Global tech market advisory firm, ABI Research forecasts that Wi-Fi-enabled devices are set to increase from 3.3 billion annual unit shipments in 2019 to more than 4.6 billion by 2024, a growth that underscores the need for a more robust Wi-Fi network.

In its new whitepaper, The Future of Wi-Fi, ABI Research highlights that while the growing reach of Wi-Fi will be driven by several advancements, such as Wi-Fi 6 and Wi-Fi’s expansion into the 60 Gigahertz (GHz) and sub-1 GHz bands through WiGig and HaLow, the most exciting, and potentially transformative, change to the Wi-Fi landscape is the anticipated availability of 6 GHz spectrum over the next few years.

“It is hard to overstate the potential that 6 GHz and Wi-Fi 6E can bring to Wi-Fi networks,” says Andrew Zignani, Principal Analyst, Wi-Fi, Bluetooth, and Wireless Connectivity at ABI Research. Currently, Wi-Fi faces several difficult challenges. Key among them are the growing demands being placed on Wi-Fi networks, leading to increased congestion, performance limitations, and reduced Quality of Service (QoS). Most Wi-Fi devices are using increasing amounts of data per device, including streaming high-resolution music and videos, video calling, application and firmware updates, digital downloads, social networking, data-heavy web content, and online gaming, among others. “The tremendous surge in active Wi-Fi devices at home in recent months and the resulting increase in traffic due to COVID-19 stay-at-home orders have reaffirmed Wi-Fi as a vital utility, acutely demonstrating both its importance and limitations,” Zignani explains.

“On April 23, 2020, the FCC voted to make additional spectrum in the 6 GHz band available for Wi-Fi, with other regions expected to follow suit in the not too distant future. Once the global regulatory landscape for 6 GHz is finalized, the technology will bring about much higher throughput, much more capacity, greater reliability, lower latency, and better QoS than ever before,” says Zignani.

6 GHz not only brings about additional spectrum and higher throughputs, but essentially guarantees access to channels with no legacy, resulting in a corresponding improvement in latency and simplifying channel access. Wi-Fi 6E takes full advantage of what Wi-Fi 6 has to offer and can open new opportunities for Wi-Fi to better support 5G-class services reliant on high multi-gigabit throughput, low latency, high efficiency, broader coverage, and better mobility,” Zignani adds.

There are still challenges ahead. “Perhaps the largest current barrier to 6GHz adoption is still the need to iron out various regulatory challenges and obstacles across different regions,” Zignani points out. Limited chipset availability, cost of supporting the technology, building out the 6 GHz ecosystem, and proximity to Wi-Fi 6 rollout are hurdles. However, ABI Research anticipates that most of these challenges will be overcome and that opening the 6 GHz band for Wi-Fi will address many of the challenges it is facing today and in the next decade.  

To learn more about what is driving 6 GHz adoption, the significant benefits that 6 GHz will provide, the expected timeline surrounding its launch, and ABI Research’s strategic recommendations for technology implementers, download the whitepaper, The Future of Wi-Fi. You are welcome to share this link with your readers.

These findings are from ABI Research’s The Future of Wi-Fi whitepaper. This whitepaper is part of the company’s Wi-Fi, Bluetooth, and Wireless Connectivity research service, which includes research, data, and ABI Insights. 

About ABI Research
ABI Research provides strategic guidance to visionaries, delivering actionable intelligence on the transformative technologies that are dramatically reshaping industries, economies, and workforces across the world. ABI Research’s global team of analysts publish groundbreaking studies often years ahead of other technology advisory firms, empowering our clients to stay ahead of their markets and their competitors. 

ABI Research提供开创性的研究和战略指导，帮助客户了解日新月异的技术。 自1990年以来，我们已与全球数百个领先的技术品牌，尖端公司，具有远见的政府机构以及创新的贸易团体建立了合作关系。 我们帮助客户创造真实的业务成果。 

For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific or visit www.abiresearch.com.

Contact Info: 

Global
 Deborah Petrara
Tel: +1.516.624.2558
pr@abiresearch.com 

Logo – https://techent.tv/wp-content/uploads/2020/05/with-wi-fi-capacity-stressed-by-remote-workforces-and-changing-connectivity-needs-6-ghz-will-provide-faster-lower-latency-and-more-reliable-wi-fi-coverage.jpg

PR Newswire

Agoda Shares How To Explore The World While You #Stayhome

Leave a comment

SINGAPORE, April 30, 2020 /PRNewswire/ — While May’s public holidays, school breaks and long weekends may be very different this year with travel or day trip plans postponed, digital travel platform Agoda shows how you can still explore the globe, shake off that cabin fever and experience what the world has to offer, all without leaving your own home. Taking Agoda’s travelers’ favorite destinations throughout 2019, combined with the top travel motivations from its Usage & Attitude Survey (U&A), Agoda shares a handy guide to travel in the virtual world. According to Agoda’s U&A survey, Nature/Countryside; Beaches; Food & Dining; Landmarks; and Culture are the top five reasons cited to travel globally, so whether you have always wanted to check out the bustling cosmopolitan cities of Bangkok, Tokyo, Seoul or Kuala Lumpur, the Arts and Culture of New York, London or Paris, or the natural beauty of Canada, Vietnam, or Japan, thanks to the wonders of technology you can.

Travel Motivation #5 – Culture

Agoda’s Usage and Attitude survey found that culture – artefacts, dance, the arts – is the fifth highest reason to travel globally.

MUSEUMS & GALLERIES

Art

  • Don’t wait to see the Mona Lisa, The Wedding at Cana or Venus de Milo, housed in the world famous Le Louvre in Paris, instead check out this virtual tour and get up close view of these world-famous paintings, without leaving home.
  • Singapore’s cultural scene gets better and better. With theatre, arts, fine food and dining all to explore. Have a taster as you view the ArtScience Museum. located right in the heart of the lion city, nestled between the iconic Marina Bay Sands hotel, overlooking the harbor, the museum hosts a range of fabulous exhibitions throughout the year – take a look at its contemporary art and science shows all throughout this #stayathome period.
  • Meanwhile, the Museum of Contemporary Art Bangkok houses a huge collection of valuable paintings and sculptures that promotes and highlights the rich legacy and heritage of Thailand. While not fully interactive, travelers can still learn about the works of local Thai artists such as Professor Emeritus Chalood NImsamer, and Professor Paitun Muangsomboon.
  • Any visit to New York is not complete without a trip to the Metropolitan Museum of Art, and what better way to whet your appetite for a future visit than with a virtual tour. The Met 360 project has released a series of six short videos inviting viewers to virtually visit the Met’s art and architecture in a fresh, immersive way. Experience the wide expanse of the six halls, which includes The Great Hall, The Cloisters, The Temple of Dendur, The Met Breuer, The Charles Engelhard Court and Arms and Armor Galleries.

History

  • Korean pop culture may be influential now but Korea has a long, proud and exciting history worth exploring further. Take your pick of eras to explore via Gyeonggi Art and History with virtual sightseeing of some of South Korea’s world heritage UNESCO sites including the Namhanhangseoung World heritage center, Jeongak Pre-history Museum and Gyeonggi Museum of Modern Art.
  • In Malaysia, which ranks number three on the top destination list for Agoda travelers during 2019, you can dive into Islamic history with a virtual walk-through of the Islamic Arts Museum in Kuala Lumpur, which showcases the rich cultural history of Islamic influence on art, architecture, clothing and calligraphy dating back 1400 years.
  • The National Palace Museum in Taipei, offers a fully interactive virtual tour so travelers can enjoy the museum and historical artifacts at your own pace.

Science

  • If science is more your thing, enjoy a 360-degree view of London’s world-class Natural History Museum from the comfort of your home.

THEATRE AND MUSIC

There’s nothing quite as magical as a trip to the theatre for plays, musicals or dance performances. While currently you can’t get to Broadway or the West End, the Royal Opera House or pop concert tours for your favourite artists, with the magic of showbiz and modern technology, it can come to you.

Ballet

Musicals

  • If you want to indulge in your musical obsession and check out with Andrew Lloyd Webber’s ‘The Shows Must Go On’, which includes song bursting The Phantom of the Opera, and toe tapping Joseph’s Amazing Technicolored Dream Coat.

Opera

  • If you can’t wait until the theatres re open or just wanted to dip your toe into the world of Opera to watch the magnificence of a ‘live’ performance of Gloriana or Mozart’s Cosi fan Tutte check out the Royal Opera Houses Our House to Your House performances on youtube.
  • Not to be outdone, and equally as renowned for it’s distinctive building as it’s performances, tune in to ‘live’ music and dance performances from the Sydney Opera House.

Theatre

  • If you have always loved to see actors treading the boards, and long for works of the The Bard, performed at the world-famous Shakespeare’s Globe Theatre in London, prepare to be inspired and awed, through this series of ‘live’ performances here.

Pop Culture

  • Pop stars and singers might not be able to fill stadiums right now, but they are doing their best to perform for you at home.  So, whether you like to rock to Bruce Springsteen, sing along with Gary Barlow and a selection go world wide artists during his Crooner Sessions, or want to bust a move to chart-topping Columbia Records artists like Diplo and John Mayer, you can catch them on live stream or their social accounts.

Travel Motivation #4 – CULTURAL LANDMARKS

Chinese and Indonesian tourists are most likely to visit famous attractions when traveling. But globally, it’s the fourth biggest motivation to travel, so check out these Instagram worthy destinations – online.

Landmarks

  • They say there is nowhere like Paris in the springtime. Enjoy a virtual trip of, The Eiffel Tower, the most-visited paid monument in the world, which welcomes 7 million visitors every year.
  • The rose city of Petra in Jordan is said to be holding secrets of decades past. Virtually discover what inspired the sets of the lost city in Indiana Jones’ movie ‘The Last Crusader’ at your own pace.

Palaces

  • The Apostolic Palace – or the Vatican City – is the official residence of the Pope and visited by 12 million people every year. Take a chance to explore the Sistine Chapel or Raphael’s Rooms at your own leisure via the Vatican Museums’ 360-degree tours and videos.
  • A chance to take a look inside the Royal palaces may be even more appealing during this stay home period, and for many travelers planning a trip to London, a visit to Buckingham Palace is often on the cards. Fret not, you can still have a nose around, as the Royal Collection Trust is showcasing the palace and sharing its rich history through virtual tours.

Entertainment

  • If there was one destination that makes every one, no matter their age believe in magic, it has to be Disneyland. Keep the child in you alive with virtual tours of some of the best Disneyland rides.

Travel Motivation #3 – FOOD & DINING

The number three motivation to travel according to Agoda’s global Usage & Attitude survey, is to experience the food and dining at the destination, this rises to the top spot for travelers from Asia.  Just because you can’t travel doesn’t mean you can’t explore the vibrant flavours of the world’s cuisine.

  • Replicate Michelin-star dishes with famous Italian chef Massimo Botturo and man behind #KitchenQuarantine encouraging chefs and people from around the world to recreate food they love and travel for. If you have been taking constant trips to the snack cupboard, why not give it a gourmet twist with Munchies from chefs that make it the best.
  • If you want a break from watching endless episodes of Queer Eye but cannot get over Antoni Porowski’s, check out his easy cooking recipes.
  • If you would like to relish dishes from your favorite movies, cook alongside American filmmaker turn chef Andrew Rea on Binging with Babish.

Travel motivation – Beaches/Islands

Beaches and/or islands are the second favorite global reason to travel.  While you might need to wait a while until you can feel the sand between your toes or waves on your back, you don’t need to miss the magic of the ocean completely.

  • Dating back 10,000 years, the Buck Island Reef National Park houses many unique corals and sea life. Take National Geographics’ guided dive with marine life photographer Brian Skerry and drift into the spectacular details of the gem colors and textures of this unique and protected barrier reef, watch sea turtle hatchlings make their way into the ocean at night.
  • Alternatively, take a virtual dive with sealions at the National Marine Sanctuaries courtesy of the National Oceanic and Atmospheric Administration (NOAA).

Travel motivation – NATURE/SCENERY/COUNTRYSIDE.

The number one motivation to travel for explorers across the world is nature and scenery. So Agoda has compiled a collection of natural beauty and cityscape videos to whet your appetite for travelling when it’s time to not stay at home.

Nature

  • Renowned its great outdoors, Canada offers so much beauty to explore. Gaze into the magical night skies for glimpses of the Northern Lights streamed live every night. How about exploring Banff National Park, where it has a variety of videos available for your “trek” across the country’s oldest national park – Johnston Canyon.
  • Indonesia’s beautiful island of Bali is often referred to as paradise on earth. Known for its volcanic mountains, rice paddy fields and most of all its bone white beaches. Get away virtually to the many beaches of Bali, while staying safe at home.
  • Japan is increasingly popular among travelers, and taking a closer look at JNTO’s tourism promotion campaign video, “Visit Japan.”, you’ll see why. The video highlights 16 of Japan’s most unique attractions such as Tokyo Tower, Kyoto’s Sagano Bamboo Forest, and the torii gates of Fushimi Inari Shrine.
  • The wild and rugged landscape of South Africa, with it’s Big Five animal safaris, is captured in Wild Earth’s daily live sunrise and sunset safaris – Wild Earth Safaris South Africa.
  • Hang Sơn Đoòng in central Vietnam’s Phong Nha-Ke Bang national park, explored by scientists for the first time in 2009, after a local man, Ho Khanh, discovered it in 1991. Enjoy a virtual trek complete with images and atmospheric sounds, zoom into of the flora and fauna.

Scenery / Cities

If you are daydreaming of the hustle and bustle of city life here is a bird’s eye view of some of the world’s most breath-taking cityscapes:

  • Hong Kong is known for its edgy skyline and fast-paced life. Brandon Li’s Hong Kong Strong video showcases the city’s futuristic culture while staying true to its roots.
  • The financial capital of India, Mumbai is not just famous for Bollywood, it is also a melting pot of cosmopolitan India and celebrates several sub-cultures, cuisines and scenery. Mumbai also hosts the world’s second largest number of art-deco buildings amongst other historic colonial, gothic and contemporary architecture as seen on the video.
  • One of the most beautiful destinations finds yourself transported to serene rivers and cobbled walkways. Step inside the Colosseum or walk through the Forum, where many of the Ancient Rome discoveries are tucked away, waiting for you to discover them.
  • Singapore which ranks 13 on the Agoda travelers list for 2019, the island country is a powerhouse of experiences rooting from its mixed culture, yet modern perspective. Enjoy unique views of Garden city’s eclectic culture of modern and traditional.
  • UK ranks 15 on the Agoda traveler list London its capital city is pure magic. With 2000 years of history, London is one of the worlds most visited cities and has something for everyone. Walk through iconic landmarks like Tower Bridge, London Eye and Carnaby Street.
  • They say New York city never sleeps. One of the world’s fastest, most expensive cities has something to see at every corner, New York is a breath of fresh air. Take a look at world famous Times Square, Grand Central station and Washington Square Park like never before.

And finally, for a truly out of this world travel experience….

Check out the views from NASA’s International Space Station which takes sixteen orbits around the Earth in 24 hours. It sees either a sunset or a sunrise every 45 minutes. What better time to view Earth on NASA’s Space Station live stream than right now?

–ENDS–

Notes to Editors:

Agoda’s Top Destinations throughout 2019

1.  Japan
2.  Thailand
3.  Malaysia
4.  Taiwan
5.  Indonesia
6.  South Korea
7.  Philippines
8.  Vietnam
9.  United States
10.  China
11.  Hong Kong
12.  India
13.  Singapore
14.  Australia
15.  France
16.  United Kingdom
17.  UAE
18.  Italy
19.  Germany
20.  Spain

Agoda’s Usage & Attitude Survey (June to August 2019) was conducted in among 22,000 respondents in 20 countries surveyed.

About Agoda

From its beginnings as an e-commerce start-up based in Singapore in 2005, digital travel platform Agoda has grown to offer a global network of over 2.6 million properties in more than 200 countries and territories worldwide, offering travelers easy access to a wide choice of luxury and budget hotels, apartments, homes and villas, to suit all budgets and travel occasions. In 2019, Agoda added a flight product and packages to help make travel even easier.

Headquartered in Singapore, Agoda is part of Booking Holdings (Nasdaq: BKNG) and employs more than 5,000 staff in 30 countries. Agoda.com and the Agoda mobile app are available in 38 languages.

For more information, please contact press@agoda.com

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/agoda-shares-how-to-explore-the-world-while-you-stayhome-301050207.html