Phoenix New Media Reports Third Quarter 2020 Unaudited Financial Results

November 18, 2020 TechENT Syndication Leave a comment

Live Conference Call to be Held at 8:00 PM U.S. Eastern Time on November 17, 2020

BEIJING, Nov. 18, 2020 — Phoenix New Media Limited (NYSE: FENG) ("Phoenix New Media", "ifeng" or the "Company"), a leading new media company in China, today announced its unaudited financial results for the third quarter ended September 30, 2020.

Mr. Shuang Liu, CEO of Phoenix New Media, commented, "We remained steadfast in our commitment to providing a superior user experience, fortifying our content leadership, and augmenting our monetization capabilities in the third quarter of 2020. To further improve iFeng’s user engagement and user retention levels, we refined the platform’s content recommendation engine while also enhancing its user experience in turn. At the same time, we maintained our focus on boosting our leadership in those content verticals which we believe to have long-term strategic value. On the innovation front, we maintained focus on the cultivation of our existing business initiatives while also carefully exploring a number of other potential business opportunities. Looking ahead, we are convinced that our professional technical expertise, content leadership, and brand influence will continue to place us at the tip of the new media spear, allowing us to capture those segments of the market with promising growth potential as the world rebounds from the COVID-19 pandemic."

Mr. Edward Lu, CFO of Phoenix New Media, further stated, "In the face of macroeconomic uncertainties, the COVID-19 pandemic, and escalating geopolitical tensions, we maintained our laser-sharp focus on the refinement of our cost structures during the third quarter of 2020. In light of the current situation, we expect the new media industry in China to continue facing pressure throughout the remainder of the year. Nevertheless, despite these short-term setbacks, we believe that our steady progress on multiple fronts will provide us with additional opportunities to augment our business fundamentals, enhance our growth quality, and ultimately generate long-term return to our shareholders."

Third quarter 2020 Financial Results

As disclosed in the second quarter 2020 unaudited financial results announcement made on August 17, 2020, the Company sold all of its investment in Beijing Yitian Xindong Network Technology Co., Ltd. ("Yitian Xindong" or "Tadu") in the second quarter of 2020 and the disposal of Tadu was qualified for reporting as a "discontinued operation" in the Company’s financial statements. Accordingly, Tadu’s results of operations have been excluded from the Company’s results from continuing operations in the condensed consolidated statements of comprehensive income/(loss) and are presented in separate line items as discontinued operations for all prior periods. The related assets and liabilities associated with the discontinued operations in the prior year consolidated balance sheets were classified as assets/liabilities held for sale to provide the comparable financial information, and the financial information and non-GAAP financial information disclosed in this press release is presented on a continuing operations basis, unless otherwise specifically stated.

REVENUES

Total revenues in the third quarter of 2020 decreased by 10.9% to RMB303.0 million (US$44.6 million) from RMB339.9 million in the same period of 2019, which was primarily due to the negative impact of the COVID-19 outbreak and heightened industry competitions.

Net advertising revenues in the third quarter of 2020 decreased by 10.2% to RMB281.3 million (US$41.4 million) from RMB313.1 million in the same period of 2019. The decrease was primarily attributable to the negative impact of the COVID-19 outbreak and heightened industry competitions.

Paid services revenues^[1] in the third quarter of 2020 decreased by 19.0% to RMB21.7 million (US$3.2 million) from RMB26.8 million in the same period of 2019. Revenues from paid contents in the third quarter of 2020 decreased by 34.3% to RMB8.9 million (US$1.3 million) from RMB13.5 million in the same period of 2019, which was mainly due to the tightening of rules and regulations on digital reading in China and in line with the broader market conditions. Revenues from MVAS and games were small and had been declining for the past years. Revenues from others in the third quarter of 2020 were RMB9.4 million (US$1.4 million), which remained almost unchanged from the same period of 2019.

^[1] Paid services revenues comprise of (i) revenues from paid contents excluding those from Tadu, which includes digital reading, audio books, paid videos, and other content-related sales activities, (ii) revenues from games, which includes web-based games and mobile games, (iii) revenues from MVAS, and (iv) revenues from others.

COST OF REVENUES

Cost of revenues in the third quarter of 2020 decreased by 12.3% to RMB150.0 million (US$22.1 million) from RMB171.1 million in the same period of 2019. The decrease in cost of revenues was mainly due to the following:

Content and operational costs in the third quarter of 2020 decreased by 13.4% to RMB129.7 million (US$19.1 million) from RMB149.9 million in the same period of 2019, mainly due to the Company’s strict cost control measures taken to enhance its operating efficiency in 2020. Share-based compensation included in the content and operational costs in the third quarter of 2020 decreased to RMB0.4 million (US$0.1 million) from RMB1.5 million in the same period of 2019.
Revenue sharing fees to telecom operators and channel partners in the third quarter of 2020 decreased by 17.7% to RMB6.0 million (US$0.9 million) from RMB7.3 million in the same period of 2019, primarily attributable to the decrease in revenue sharing fees paid to content providers.

The decrease was partially offset by the following:

Bandwidth costs in the third quarter of 2020 increased slightly to RMB14.3 million (US$2.1 million) from RMB13.9 million in the same period of 2019.

GROSS PROFIT

Gross profit in the third quarter of 2020 decreased by 9.4% to RMB153.0 million (US$22.5 million) from RMB168.8 million in the same period of 2019. Gross margin in the third quarter of 2020 increased to 50.5% from 49.7% in the same period of 2019, primarily attributable to the Company’s strict cost control measures taken to enhance its operating efficiency in 2020, as explained above.

To supplement the financial measures presented in accordance with the United States Generally Accepted Accounting Principles ("GAAP"), the Company has presented certain non-GAAP financial measures in this press release, which excluded the impact of certain reconciling items as stated in the "Use of Non-GAAP Financial Measures" section below. The related reconciliations to GAAP financial measures are presented in the accompanying "Reconciliations of Non-GAAP Results of Operation Measures to the Nearest Comparable GAAP Measures."

Non-GAAP gross margin in the third quarter of 2020, which excluded share-based compensation, increased to 50.6% from 50.1% in the same period of 2019.

OPERATING EXPENSES AND INCOME OR LOSS FROM OPERATIONS

Total operating expenses in the third quarter of 2020 decreased by 20.8% to RMB181.4 million (US$26.7 million) from RMB229.0 million in the same period of 2019, primarily attributable to the decreases in both the Company’s traffic acquisition expenses and the personnel-related expenses as a result of the strict cost control measures taken by the Company to enhance its operating efficiency in 2020, which was partially offset by the increase in bad debt expenses caused by the slower collection of receivables as a result of the COVID-19 outbreak. Share-based compensation included in operating expenses in the third quarter of 2020 was RMB1.3 million (US$0.2 million), compared to RMB1.9 million in the same period of 2019.

Loss from operations in the third quarter of 2020 was RMB28.4 million (US$4.2 million), compared to loss from operations of RMB60.2 million in the same period of 2019. Operating margin in the third quarter of 2020 was negative 9.4%, compared to negative 17.7% in the same period of 2019.

Non-GAAP loss from operations in the third quarter of 2020, which excluded share-based compensation, was RMB26.7 million (US$3.9 million), compared to non-GAAP loss from operations of RMB56.8 million in the same period of 2019. Non-GAAP operating margin in the third quarter of 2020, which excluded share-based compensation, was negative 8.8%, compared to negative 16.7% in the same period of 2019.

OTHER INCOME OR LOSS

Other income or loss reflects net interest income, foreign currency exchange gain or loss, income or loss from equity method investments, net of impairment, impairment of available-for-sale debt investments, changes in fair value of loan related to co-sale of Particle shares, and others, net^[2]. Total net other income in the third quarter of 2020 was RMB30.9 million (US$4.6 million), compared to total net other income of RMB19.2 million in the same period of 2019. The increase in total net other income was mainly due to the following:

Net interest income in the third quarter of 2020 increased to RMB14.8 million (US$2.2 million) from RMB7.7 million in the same period of 2019, mainly caused by more investments in term deposits and short term investments in the third quarter of 2020, as the Company received the remaining payment of approximately US$99.3 million from Run Liang Tai on August 10, 2020, as mentioned in the section headed "CERTAIN BALANCE SHEET ITEMS" below.
Foreign currency exchange gain in the third quarter of 2020 was RMB3.2 million (US$0.5 million), compared to RMB6.1 million in the same period of 2019.
Income from equity method investments, net of impairment in the third quarter of 2020 was RMB6.0 million (US$0.9 million), which reflected the gain from disposal of the equity investment in certain investee incurred in the third quarter of 2020.
Impairment of available-for-sale debt investment in the third quarter of 2020 was RMB2.0 million (US$0.3 million), which reflected the amount of the impairment related to credit losses on the available-for-sale debt investment in certain investee incurred in the third quarter of 2020.
Changes in fair value of loan related to co-sale of Particle shares in the third quarter of 2020 were a loss of RMB4.5 million (US$0.7 million), mainly caused by the decline in the fair value of an interest-free loan with the principal of approximately US$9.7 million granted by the Company to Run Liang Tai. Run Liang Tai pledged 4,584,209 series D1 preferred shares of Particle to the Company to secure the repayment of the loan and transferred the pledged shares back to the Company in satisfaction of its obligation to repay the US$9.7 million loan in August 2020. In view of the nature of the loan which was collateralized by the above mentioned pledged shares, the Company elected to account for the loan under the fair value option.
Others, net, in the third quarter of 2020 increased to RMB13.4 million (US$2.0 million), from RMB5.4 million in the same period of 2019, mainly caused by more government subsidies received in the third quarter of 2020.

^[2] "Others, net" primarily consists of government subsidies and litigation loss provisions.

NET INCOME OR LOSS FROM CONTINUING OPERATIONS ATTRIBUTABLE TO PHOENIX NEW MEDIA LIMITED

Net loss from continuing operations attributable to Phoenix New Media Limited in the third quarter of 2020 was RMB0.9 million (US$0.1 million), compared to net loss from continuing operations attributable to Phoenix New Media Limited of RMB50.9 million in the same period of 2019. Net margin from continuing operations in the third quarter of 2020 was negative 0.3%, compared to negative 15.0% in the same period of 2019. Net loss from continuing operations per diluted ADS^[3] in the third quarter of 2020 was RMB0.01 (US$0.00), compared to net loss from continuing operations per diluted ADS of RMB0.70 in the same period of 2019.

Non-GAAP net income from continuing operations attributable to Phoenix New Media Limited, which excluded share-based compensation, income or loss from equity method investments, net of impairment, impairment of available-for-sale debt investments, changes in fair value of loan related to co-sale of Particle shares and changes in fair value of forward contract in relation to future disposal of investments in Particle, was RMB1.3 million (US$0.2 million) in the third quarter of 2020, compared to non-GAAP net loss from continuing operations attributable to Phoenix New Media Limited of RMB47.5 million in the same period of 2019. Non-GAAP net margin from continuing operations in the third quarter of 2020 was positive 0.4%, compared to negative 14.0% in the same period of 2019. Non-GAAP net income from continuing operations per basic and diluted ADS in the third quarter of 2020 was RMB0.02 (US$0.00), compared to non-GAAP net loss from continuing operations per basic and diluted ADS of RMB0.65 in the same period of 2019.

In the third quarter of 2020, the Company’s weighted average number of ADSs used in the computation of diluted net income from continuing operations per basic and diluted ADS was 72,790,541. As of September 30, 2020, the Company had a total of 582,324,325 ordinary shares outstanding, or the equivalent of 72,790,541 ADSs.

^[3] "ADS" means American Depositary Share of the Company. Each ADS represents eight Class A ordinary shares of the Company.

CERTAIN BALANCE SHEET ITEMS

As of September 30, 2020, the Company’s cash and cash equivalents, term deposits and short term investments and restricted cash were RMB2.37 billion (US$349.5 million).

As previously announced by the Company, the Company entered into a share purchase agreement (the "SPA") with Run Liang Tai Management Limited, or Run Liang Tai, and its designated entities (the "Proposed Buyers") on March 22, 2019 and entered into a series of agreements with Run Liang Tai and the other shareholders of Particle to resolve certain issues in connection with the sale of preferred shares in Particle Inc. ("Particle") ("Previous Agreements"). The Company completed delivery of the first batch of preferred shares of Particle to the Proposed Buyers in the fourth quarter of 2019, and the Proposed Buyers were required to pay the remaining purchase price for the second batch of Particle shares to the Company on or before August 10, 2020. In August 2020, the Company announced that it had signed a new share purchase agreement (the "New SPA") with Run Liang Tai, which replaced the Company’s Previous Agreements with Run Liang Tai. Under the New SPA, the rights and obligations of both the Proposed Buyers and the Company with respect to the second batch of shares under the Previous Agreements were terminated, and instead, the Company agreed to sell a total of 140,248,775 shares of Particle to the Proposed Buyers at a total purchase price of US$150 million and a per share purchase price of US$1.0695 (the "Transaction"). On August 10, 2020, the Proposed Buyers paid approximately US$99.3 million (the "Remaining Payment") to the Company under the New SPA, which represents the difference between the total purchase price and the US$50 million deposit already paid by the Proposed Buyers to the Company under the Previous Agreements plus certain other accrued interests. As of today, the closing conditions for the New SPA have been satisfied. The shareholders of the Company’s parent company, Phoenix Media Investment (Holdings) Limited ("Phoenix TV"), approved the New SPA on October 14, 2020. The Transaction was closed on October 19, 2020.

The fair value of the Company’s available-for-sale debt investments in Particle was increased from RMB1,057.8 million as of June 30, 2020 to RMB1,061.3 million (US$156.3 million) as of September 30, 2020. The available-for-sale debt investments as of September 30, 2020 included both the 140,248,775 shares of Particle to be delivered on October 19, 2020 and the 4,584,209 series D1 preferred shares of Particle transferred to the Company by Run Liang Tai in August 2020, which were previously pledged to the Company to secure the repayment of an interest-free loan with the principal of approximately US$9.7 million granted by the Company to Run Liang Tai. All the changes in fair value of available-for-sale debt investments in Particle recorded in the accumulated other comprehensive income or loss in shareholders’ equity related to the 140,248,775 shares of Particle delivered on October 19, 2020 are expected to be reclassified into gain on disposal of available-for-sale debt investments in the Company’s consolidated statements of comprehensive income/(loss) in the fourth quarter of 2020. The fair value of the investments in Particle as of September 30, 2020 was determined based on a valuation technique under the market approach, known as the guideline company method, as well as using observable transactions of Particle’s shares, as the selling price of the Transaction.

Business Outlook

For the fourth quarter of 2020, the Company expects its total revenues to be between RMB332.4 million and RMB362.4 million; net advertising revenues are expected to be between RMB309.6 million and RMB334.6 million; and paid services revenues are expected to be between RMB22.8 million and RMB27.8 million.

All of the above forecasts reflect the current and preliminary views of Company management, which are subject to change and substantial uncertainty, particularly in view of the potential impact of the COVID-19 outbreak, the effects of which are difficult to analyse and predict.

Conference Call Information

The Company will hold a conference call at 8:00 p.m. U.S. Eastern Time on November 17, 2020 (November 18, 2020 at 9:00 a.m. Beijing/Hong Kong time) to discuss its third quarter 2020 unaudited financial results and operating performance.

To participate in the call, please register in advance of the conference by navigating to http://apac.directeventreg.com/registration/event/4731548 . Upon registering, you will be provided with participant dial-in numbers, Direct Event passcode and unique registrant ID by email. Please dial in 10 minutes prior to the call, using the participant dial-in numbers, Direct Event Passcode and unique registrant ID which would be provided upon registering. You will be automatically linked to the live call after completion of this process.

A replay of the call will be available through November 25, 2020 by using the dial-in numbers and conference ID below:

International:		+61 2 8199 0299
Mainland China:		4006322162
Hong Kong:		+852 30512780
United States:		+1 646 254 3697
Conference ID:		4731548

A live and archived webcast of the conference call will also be available at the Company’s investor relations website at http://ir.ifeng.com.

Use of Non-GAAP Financial Measures

To supplement the consolidated financial statements presented in accordance with the United States Generally Accepted Accounting Principles ("GAAP"), Phoenix New Media Limited uses non-GAAP gross profit, non-GAAP gross margin, non-GAAP income or loss from operations, non-GAAP operating margin, non-GAAP net income or loss from continuing operations attributable to Phoenix New Media Limited, non-GAAP net margin from continuing operations and non-GAAP net income or loss from continuing operations per diluted ADS, each of which is a non-GAAP financial measure. Non-GAAP gross profit is gross profit excluding share-based compensation. Non-GAAP gross margin is non-GAAP gross profit divided by total revenues. Non-GAAP income or loss from operations is income or loss from operations excluding share-based compensation. Non-GAAP operating margin is non-GAAP income or loss from operations divided by total revenues. Non-GAAP net income or loss from continuing operations attributable to Phoenix New Media Limited is net income or loss from continuing operations attributable to Phoenix New Media Limited excluding share-based compensation, income or loss from equity method investments, net of impairment, impairment of available-for-sale debt investments, changes in fair value of loan related to co-sale of Particle shares, and changes in fair value of forward contract in relation to future disposal of investments in Particle. Non-GAAP net margin from continuing operations is non-GAAP net income or loss from continuing operations attributable to Phoenix New Media Limited divided by total revenues. Non-GAAP net income or loss from continuing operations per diluted ADS is non-GAAP net income or loss from continuing operations attributable to Phoenix New Media Limited divided by weighted average number of diluted ADSs. The Company believes that separate analysis and exclusion of the aforementioned non-GAAP to GAAP reconciling items add clarity to the constituent parts of its performance. The Company reviews these non-GAAP financial measures together with the related GAAP financial measures to obtain a better understanding of its operating performance. It uses these non-GAAP financial measures for planning, forecasting and measuring results against the forecast. The Company believes that using these non-GAAP financial measures to evaluate its business allows both management and investors to assess the Company’s performance against its competitors and ultimately monitor its capacity to generate returns for investors. The Company also believes that these non-GAAP financial measures are useful supplemental information for investors and analysts to assess its operating performance without the effect of items like share-based compensation, income or loss from equity method investments, net of impairment, which have been and will continue to be significant recurring items, and without the effect of impairment of available-for-sale debt investments, changes in fair value of loan related to co-sale of Particle shares and changes in fair value of forward contract in relation to future disposal of investments in Particle which have been significant and one-time items. However, the use of these non-GAAP financial measures has material limitations as an analytical tool. One of the limitations of using these non-GAAP financial measures is that they do not include all items that impact the Company’s gross profit, income or loss from operations and net income or loss from continuing operations attributable to Phoenix New Media Limited for the period. In addition, because these non-GAAP financial measures are not calculated in the same manner by all companies, they may not be comparable to other similarly titled measures used by other companies. In light of the foregoing limitations, you should not consider these non-GAAP financial measures in isolation from, or as an alternative to, the financial measures prepared in accordance with GAAP.

Exchange Rate

This announcement contains translations of certain RMB amounts into U.S. dollars ("USD") at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to USD were made at the rate of RMB6.7896 to US$1.00, the noon buying rate in effect on September 30, 2020 in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or USD amounts referred could be converted into USD or RMB, as the case may be, at any particular rate or at all. For analytical presentation, all percentages are calculated using the numbers presented in the financial statements contained in this earnings release.

About Phoenix New Media Limited

Phoenix New Media Limited (NYSE: FENG) is a leading new media company providing premium content on an integrated Internet platform, including PC and mobile, in China. Having originated from a leading global Chinese language TV network based in Hong Kong, Phoenix TV, the Company enables consumers to access professional news and other quality information and share user-generated content on the Internet through their PCs and mobile devices. Phoenix New Media’s platform includes its PC channel, consisting of ifeng.com website, which comprises interest-based verticals and interactive services; its mobile channel, consisting of mobile news applications, mobile video application and mobile Internet website; and its operations with the telecom operators that provides mobile value-added services.

Safe Harbor Statement

This announcement contains forward−looking statements. These statements are 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" and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Phoenix New Media’s strategic and operational plans, contain forward−looking statements. Phoenix New Media may also make written or oral forward−looking statements in its periodic reports to the U.S. Securities and Exchange Commission ("SEC") on Forms 20−F and 6−K, 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. Statements that are not historical facts, including statements about Phoenix New Media’s beliefs and expectations, are forward−looking statements. 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 goals and strategies; the Company’s future business development, financial condition and results of operations; the expected growth of online and mobile advertising, online video and mobile paid services markets in China; the Company’s reliance on online and mobile advertising and MVAS for a majority of its total revenues; the Company’s expectations regarding demand for and market acceptance of its services; the Company’s expectations regarding maintaining and strengthening its relationships with advertisers, partners and customers; the Company’s investment plans and strategies, fluctuations in the Company’s quarterly operating results; the Company’s plans to enhance its user experience, infrastructure and services offerings; the Company’s reliance on mobile operators in China to provide most of its MVAS; changes by mobile operators in China to their policies for MVAS; competition in its industry in China; relevant government policies and regulations relating to the Company; and the effects of the COVID-19 on the economy in China in general and on the Company’s business in particular. Further information regarding these and other risks is included in the Company’s filings with the SEC, including its registration statement on Form F−1, as amended, and its annual reports on Form 20−F. All information provided in this press release and in the attachments is as of the date of this press release, and Phoenix New Media does not undertake any obligation to update any forward−looking statement, except as required under applicable law.

For investor and media inquiries please contact:

Phoenix New Media Limited
Qing Liu
Email: investorrelations@ifeng.com

ICR, Inc.
Jack Wang
Tel: +1 (646) 405-4883
Email: investorrelations@ifeng.com

Phoenix New Media Limited
Unaudited Condensed Consolidated Balance Sheets
(Amounts in thousands)

	December 31,		September 30,		September 30,
	2019		2020		2020
	RMB		RMB		US$
ASSETS
Current assets:
Cash and cash equivalents		310,876		109,386		16,111
Term deposits and short term investments		1,271,889		2,234,406		329,092
Restricted cash		66,234		29,067		4,281
Accounts receivable, net		609,627		624,676		92,005
Amounts due from related parties		56,653		41,617		6,130
Prepayment and other current assets		57,391		48,151		7,092
Assets held for sale		184,032		–		–
Total current assets		2,556,702		3,087,303		454,711
Non-current assets:
Property and equipment, net		97,357		71,115		10,474
Intangible assets, net		13,633		21,606		3,182
Goodwill		22,786		22,786		3,356
Available-for-sale debt investments		2,014,537		1,067,232		157,186
Equity investments, net		13,237		13,000		1,915
Deferred tax assets		73,688		88,955		13,102
Operating lease right-of- use assets, net		84,550		59,103		8,705
Other non-current assets		19,859		19,836		2,921
Assets held for sale		429,468		–		–
Total non-current assets		2,769,115		1,363,633		200,841
Total assets		5,325,817		4,450,936		655,552
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable		249,018		198,422		29,224
Amounts due to related parties		34,155		26,535		3,908
Advances from customers		46,172		38,033		5,602
Taxes payable		287,765		295,564		43,532
Salary and welfare payable		157,784		107,595		15,847
Deposits in relation to future disposal of investment in Particle		355,212		1,021,515		150,453
Accrued expenses and other current liabilities		274,122		181,694		26,761
Operating lease liabilities		37,874		41,349		6,090
Liabilities held for sale		63,341		–		–
Total current liabilities		1,505,443		1,910,707		281,417
Non-current liabilities:
Deferred tax liabilities		192,142		93,774		13,811
Long-term liabilities		27,612		27,612		4,067
Operating lease liabilities		49,929		24,322		3,582
Liabilities held for sale		5,676		–		–
Total non-current liabilities		275,359		145,708		21,460
Total liabilities		1,780,802		2,056,415		302,877
Shareholders’ equity:
Phoenix New Media Limited shareholders’ equity:
Class A ordinary shares		17,499		17,499		2,577
Class B ordinary shares		22,053		22,053		3,248
Additional paid-in capital		1,611,484		1,616,941		238,150
Statutory reserves		88,583		88,583		13,047
Retained earnings		186,324		113,966		16,785
Accumulated other comprehensive income		1,405,808		507,045		74,680
Total Phoenix New Media Limited shareholders’ equity		3,331,751		2,366,087		348,487
Noncontrolling interests		213,264		28,434		4,188
Total shareholders’ equity		3,545,015		2,394,521		352,675
Total liabilities and shareholders’ equity		5,325,817		4,450,936		655,552

Phoenix New Media Limited
Unaudited Condensed Consolidated Statements of Comprehensive Income/(loss)
(Amounts in thousands, except for number of shares and per share (or ADS) data)

	Three Months Ended								Nine Months Ended
	September 30,		June 30,		September 30,		September 30,		September 30,		September 30,		September 30,
	2019		2020		2020		2020		2019		2020		2020
	RMB		RMB		RMB		US$		RMB		RMB		US$
Revenues:
Net advertising revenues		313,139		286,346		281,308		41,432		831,647		776,364		114,346
Paid service revenues		26,771		25,935		21,681		3,193		95,761		70,282		10,351
Total revenues		339,910		312,281		302,989		44,625		927,408		846,646		124,697
Cost of revenues		(171,076)		(124,728)		(150,036)		(22,098)		(494,511)		(380,062)		(55,977)
Gross profit		168,834		187,553		152,953		22,527		432,897		466,584		68,720
Operating expenses:
Sales and marketing expenses		(138,685)		(57,247)		(64,899)		(9,559)		(381,191)		(203,769)		(30,012)
General and administrative expenses		(36,748)		(62,161)		(74,782)		(11,014)		(138,806)		(207,215)		(30,519)
Technology and product development expenses		(53,599)		(42,555)		(41,706)		(6,143)		(160,925)		(129,372)		(19,054)
Total operating expenses		(229,032)		(161,963)		(181,387)		(26,716)		(680,922)		(540,356)		(79,585)
(Loss)/income from operations		(60,198)		25,590		(28,434)		(4,189)		(248,025)		(73,772)		(10,865)
Other income/(loss):
Interest income, net		7,727		4,918		14,792		2,179		16,048		26,112		3,846
Foreign currency exchange gain		6,134		83		3,218		474		6,889		1,573		232
Income/(loss) from equity method investments, net of impairment		–		–		6,013		886		(3,447)		5,777		851
Impairment of available-for-sale debt investments		–		–		(2,000)		(295)		–		(2,000)		(295)
Changes in fair value of loan related to co-sale of Particle shares		–		(20,049)		(4,486)		(661)		–		(24,535)		(3,614)
Changes in fair value of forward contract in relation to future disposal of investments in Particle		–		1,341		–		–		–		16,085		2,369
Others, net		5,301		8,635		13,360		1,968		11,680		27,111		3,993
(Loss)/income from continuing operations before income taxes		(41,036)		20,518		2,463		362		(216,855)		(23,649)		(3,483)
Income tax expense		(7,209)		(3,216)		(1,725)		(254)		(18,601)		(4,184)		(616)
Net (loss)/income from continuing operations		(48,245)		17,302		738		108		(235,456)		(27,833)		(4,099)
Net income/(loss) from discontinued operations, net of income taxes		50,276		(17,869)		–		–		38,882		(62,366)		(9,186)
Net income/(loss)		2,031		(567)		738		108		(196,574)		(90,199)		(13,285)
Net loss/(income) attributable to noncontrolling interests:
Net income from continuing operations attributable to noncontrolling interests		(2,686)		(14,536)		(1,687)		(248)		(2,872)		(8,969)		(1,321)
Net loss from discontinued operations attributable to noncontrolling interests		6,582		1,884		–		–		15,521		24,759		3,647
Net loss/(income) attributable to noncontrolling interests		3,896		(12,652)		(1,687)		(248)		12,649		15,790		2,326
Net income/(loss) attributable to Phoenix New Media Limited:
Net (loss)/income from continuing operations attributable to Phoenix New Media Limited		(50,931)		2,766		(949)		(140)		(238,328)		(36,802)		(5,420)
Net income/(loss) from discontinued operations attributable to Phoenix New Media Limited		56,858		(15,985)		–		–		54,403		(37,607)		(5,539)
Net income/(loss) attributable to Phoenix New Media Limited		5,927		(13,219)		(949)		(140)		(183,925)		(74,409)		(10,959)
Net income/(loss)		2,031		(567)		738		108		(196,574)		(90,199)		(13,285)
Other comprehensive income/(loss), net of tax: fair value remeasurement for available-for-sale investments		734,931		(886,110)		1,598		235		997,251		(884,512)		(130,275)
Other comprehensive income/(loss), net of tax: foreign currency translation adjustment		51,044		(1,602)		(43,077)		(6,345)		68,795		(14,251)		(2,099)
Comprehensive income/(loss)		788,006		(888,279)		(40,741)		(6,002)		869,472		(988,962)		(145,659)
Comprehensive loss/(income) attributable to noncontrolling interests		3,896		(12,652)		(1,687)		(248)		12,649		15,790		2,326
Comprehensive income/(loss) attributable to Phoenix New Media Limited		791,902		(900,931)		(42,428)		(6,250)		882,121		(973,172)		(143,333)
Basic net income/(loss) per Class A and Class B ordinary share:
-Continuing operations		(0.09)		0.00		0.00		0.00		(0.41)		(0.06)		(0.01)
-Discontinued operations		0.10		(0.02)		0.00		0.00		0.09		(0.07)		(0.01)
Basic net income/(loss) per Class A and Class B ordinary share		0.01		(0.02)		0.00		0.00		(0.32)		(0.13)		(0.02)
Diluted net income/(loss) per Class A and Class B ordinary share:
-Continuing operations		(0.09)		0.00		0.00		0.00		(0.41)		(0.06)		(0.01)
-Discontinued operations		0.10		(0.02)		0.00		0.00		0.09		(0.07)		(0.01)
Diluted net income/(loss) per Class A and Class B ordinary share		0.01		(0.02)		0.00		0.00		(0.32)		(0.13)		(0.02)
Basic income/(loss) per ADS (1 ADS represents 8 Class A ordinary shares):
-Continuing operations		(0.70)		0.04		(0.01)		0.00		(3.27)		(0.50)		(0.07)
-Discontinued operations		0.78		(0.22)		0.00		0.00		0.74		(0.52)		(0.08)
Basic net income/(loss) per ADS (1 ADS represents 8 Class A ordinary shares)		0.08		(0.18)		(0.01)		0.00		(2.53)		(1.02)		(0.15)
Diluted net income/(loss) per ADS (1 ADS represents 8 Class A ordinary shares)：
-Continuing operations		(0.70)		0.04		(0.01)		0.00		(3.27)		(0.50)		(0.07)
-Discontinued operations		0.78		(0.22)		0.00		0.00		0.74		(0.52)		(0.08)
Diluted net income/(loss) per ADS (1 ADS represents 8 Class A ordinary shares)		0.08		(0.18)		(0.01)		0.00		(2.53)		(1.02)		(0.15)
Weighted average number of Class A and Class B ordinary shares used in computing net income/(loss) per share:
Basic		582,324,325		582,324,325		582,324,325		582,324,325		582,259,624		582,324,325		582,324,325
Diluted		582,324,325		582,324,325		582,324,325		582,324,325		582,259,624		582,324,325		582,324,325

Phoenix New Media Limited
Unaudited Condensed Segment Information
(Amounts in thousands)

	Three Months Ended								Nine Months Ended
	September 30,		June 30,		September 30,		September 30,		September 30,		September 30,		September 30,
	2019		2020		2020		2020		2019		2020		2020
	RMB		RMB		RMB		US$		RMB		RMB		US$
Revenues:
Net advertising service		313,139		286,346		281,308		41,432		831,647		776,364		114,346
Paid services		26,771		25,935		21,681		3,193		95,761		70,282		10,351
Total revenues		339,910		312,281		302,989		44,625		927,408		846,646		124,697
Cost of revenues
Net advertising service		157,054		117,536		143,463		21,130		442,730		358,232		52,762
Paid services		14,022		7,192		6,573		968		51,781		21,830		3,215
Total cost of revenues		171,076		124,728		150,036		22,098		494,511		380,062		55,977
Gross profit
Net advertising service		156,085		168,810		137,845		20,302		388,917		418,132		61,584
Paid services		12,749		18,743		15,108		2,225		43,980		48,452		7,136
Total gross profit		168,834		187,553		152,953		22,527		432,897		466,584		68,720

Phoenix New Media Limited

Unaudited Condensed Information of Cost of Revenues

(Amounts in thousands)

Three Months Ended

Nine Months Ended

September 30,

June 30,

September 30,

2019

2020

2019

2020

RMB

US$

RMB

US$

Revenue sharing fees

7,319

2,371

6,026

888

23,396

12,653

1,864

Content and operational costs

149,871

107,404

129,749

19,110

431,421

324,183

47,746

Bandwidth costs

13,886

14,953

14,261

2,100

39,694

43,226

6,367

Total cost of revenues

171,076

124,728

150,036

22,098

494,511

380,062

55,977

Unaudited Reconciliations of Non-GAAP Results of Operations Measures to the Nearest Comparable GAAP Measures
(Amounts in thousands, except for number of ADSs and per ADS data)

	Three Months Ended September 30, 2019									Three Months Ended June 30, 2020									Three Months Ended September 30, 2020
	GAAP			Non-GAAP Adjustments			Non- GAAP			GAAP			Non-GAAP Adjustments			Non- GAAP			GAAP			Non-GAAP Adjustments			Non- GAAP
	RMB			RMB			RMB			RMB			RMB			RMB			RMB			RMB			RMB
Gross profit		168,834			1,476	(1)		170,310			187,553			842	(1)		188,395			152,953			401	(1)		153,354
Gross margin		49.7	%					50.1	%		60.1	%					60.3	%		50.5	%					50.6	%
(Loss)/income from operations		(60,198)			3,429	(1)		(56,769)			25,590			2,225	(1)		27,815			(28,434)			1,758	(1)		(26,676)
Operating margin		(17.7)	%					(16.7)	%		8.2	%					8.9	%		(9.4)	%					(8.8)	%
					3,429	(1)								2,225	(1)								1,758	(1)
					–	(2)								–	(2)								(6,013)	(2)
					–	(3)								(1,341)	(3)								–	(3)
					–	(4)								20,049	(4)								4,486	(4)
					–	(5)								–	(5)								2,000	(5)
Net (loss)/income from continuing operations attributable to Phoenix New Media Limited		(50,931)			3,429			(47,502)			2,766			20,933			23,699			(949)			2,231			1,282
Net margin from continuing operations		(15.0)	%					(14.0)	%		0.9	%					7.6	%		(0.3)	%					0.4	%
Net (loss)/income from continuing operations per ADS—diluted		(0.70)						(0.65)			0.04						0.33			(0.01)						0.02
Weighted average number of ADSs used in computing diluted net (loss)/income per ADS		72,790,541						72,790,541			72,790,541						72,790,541			72,790,541						72,790,541

(1) Share-based compensation
(2) Income from equity method investments, net of impairment
(3) Changes in fair value of forward contract in relation to future disposal of investments in Particle
(4) Changes in fair value of loan related to co-sale of Particle shares
(5) Impairment of available-for-sale debt investments

Non-GAAP to GAAP reconciling items have no income tax effect.

Zepp Launches a Premium Partner in Wellness

November 18, 2020 TechENT Syndication Leave a comment

Zepp Z – Classic Design Meets Contemporary Technology

SHENZHEN, China, Nov. 18, 2020 — Zepp, a professional brand focused on digital health management, today hosted a live online streaming event to recap the Zepp E, as well as launch its latest wearable, the Zepp Z smartwatch. Inspired by classic watch design, the Zepp Z seamlessly combines traditional craftsmanship and high-quality materials to create an elegant premium smartwatch. The Zepp Z helps people take control of their physical and mental wellbeing, and improve their quality of life.

Zepp Z: A Brand New Icon with a Titanium Alloy Body

Premium design creates a modern classic

Made from a single piece of polished titanium alloy, the Zepp Z is incredibly lightweight and exceptionally strong, and the NTC nanotech coating makes it resistant to scratches. The smooth texture and luxury feel of the classic crown design, with an engraved dial and buttons, transforms control of your smartwatch into an intuitive seamless experience.

With an Always-On Display^[1], the Zepp Z enables you to check the time at a glance, and the handy Health Key^[2] lets you access your favorite health metrics instantly. The 326 ppi display vividly reproduces a 100% NTSC wide-color spectrum with an extraordinary level of detail.

An all-round wellness partner

The Zepp Z tracks your health markers 24/7 through advanced AI and biometric data technology^[3]. Its BioTracker^™2.0 PPG optical sensor monitors your heart rate^[4] and also gives abnormally elevated heart rate alerts.

Your blood-oxygen saturation (SpO₂) level^[5] is a useful health metric that the Zepp Z can measure from your wrist.

To help you easily understand your biometrics, the Zepp Z features the PAI™ Health Assessment System^[6] converts your health data into an intuitive single value after processing heart rate, activity and other health metrics.

The Zepp Z can also monitor your sleep status through the deep, light and REM^[7] sleep periods, as well as awake time and afternoon naps between 11am-6pm, and interprets the characteristics to provide a sleep quality score.

Using self-developed algorithms, the Zepp Z monitors your stress levels.

Your smart fitness companion and assistant

Real-time sports settings monitor your heart rate through most exercise, providing you notifications regarding exercise levels, stages, and the heart rate zones you’re in while working out^[8]. And when you’re on the move and need some music, the Zepp Z lets you control your favorite tracks on your phone.

The Zepp Z can last for more than two weeks of typical daily use^[9], and for more than 30 days^[10]with only basic use.

When wearing the Zepp Z, you can use voice commands to interact with Alexa^[11] on your mobile phone to control your smart home appliances, set alarms and timers, check the weather, and more. The built-in offline voice assistant^[12] also supports 58 voice commands so you can interact with the Zepp Z and stay in control anytime and anywhere.

Zepp – with you every moment

The Zepp brand was founded in Silicon Valley in 2010 and quickly became the go-to brand for athletes looking to improve their performance. Now in 2020, Zepp begins a new chapter with health as its mission, powered by the belief in the role human-centered technology can play in self-improvement, and realizing the potential of the Internet of Things powered by AI. Zepp continuously develops new technologies, devices and apps to aid users with their personal health management.

The Zepp App itself is a platform for managing personal wellbeing and also connects sister-brand Amazfit, which offers a complementary line of branded smartwatches, bands, and wearables, with cloud services.

From 17^th November 2020, the Zepp Z, with its lightweight premium-feel metal body, digital health capabilities, and easily customizable watch face will first be available at Zepp’s official website (www.zepp.com) at a starting price of USD 349.

^[1] "Always-On Display" is a feature that enables the watch to display system information when the screen is on and display time when the screen is off. To enable this feature, manually set the AOD mode.

^[2] Supported by OTA upgrade. The Health Key will only be triggered when the watch is on the home screen. You can customize the key to measure the heart rate, SpO₂or stress level.

^[3] This product is not a medical device. Test data and results are for reference only and are not intended for medical diagnosis or medical monitoring.

^[4] The 24-hour heart rate detection feature requires the user to set and turn on the "heart health detection" feature; the 24-hour heart rate monitoring is supported in the app, and the minimum value can be set to 1 minute; this feature cannot be used for medical purposes or as a basis for medical diagnosis. The detection results are provided for reference only. Please consult professional medical institutions if you feel unwell.

^[5] SpO₂level can affect the oxygen level to various organs. If the level is too low, it could lead to dizziness, headaches, or cardiac arrest. This product is not a medical device. The measurement data is intended for reference only and cannot be used to perform professional diagnosis or monitoring of any medical conditions. Additionally, data accuracy will be affected if the sensor area makes contact with skin that is tattooed, pigmented or deep-toned. To measure SpO₂, please keep your arm still.

^[6] The HUNT Fitness Study indicates that people who maintain a PAI™ score of 100 or higher show lower risk of hypertension, heart disease, and type-2 diabetes. HUNT Fitness Study: This study was conducted by Professor Ulrik Wisloff of the Faculty of Medicine, Norwegian University of Science and Technology. It lasted for more than 35 years and involved 230,000 participants.

^[7] The rapid eye movement period, also known as REM, is the basis for the normal biological rhythm and life-sustaining of mammals. It accounts for about 20%-25% of the entire night’s sleep cycle. It is characterized by rapid eye movement, low-amplitude mixed-frequency EEG activity, and muscle tension relaxation. To monitor your REM cycle, the sleep assistant mode and heart rate tracking must be enabled.

^[8] Not applicable to exercises under water.

^[9] Test conditions: Heart-rate monitoring and sleep monitoring are turned on, and SpO₂ is measured twice a day. Every day, the screen turns on to display 150 messages, and the user raises the wrist 30 times to check the time. Other operations last for no more than 5 minutes each time. The user exercises three times a week, and runs for 30 minutes each time, with the GPS feature enabled. The battery life is affected by various factors, and the actual amount of time may be slightly different from the nominal value.

^[10] This battery life refers to the following condition: Bluetooth, heart rate monitoring and other features are turned off. The user raises the wrist to turn on the screen 100 times a day. The battery life is affected by various factors, and the actual amount of time may be slightly different from the nominal value.

^[11] Alexa will be supported by OTA upgrade. Alexa will not be available in all countries/regions. To see the countries/regions available, languages supported, as well as how to activate and use Alexa on your Zepp Z, please visit support.zepp.com.

^[12] Offline voice assistant only supports English voice commands.

PR Newswire

Chili Piper aims to overtake Calendly among revenue reps with the first meeting automation tool and new Spicy offering

November 17, 2020 TechENT Syndication Leave a comment

Latest product release introduces new Free and Spicy offerings for revenue teams with more robust booking links than Calendly and the first ever meeting automation solution for reps, allowing teams to automate and track every buyer interaction in their CRM

NEW YORK, Nov. 17, 2020 — Chili Piper, the leader in Inbound Revenue Acceleration, today announced the expansion of Chili Meetings, its meeting automation platform for revenue teams.

Chili Piper has become synonymous with instant lead conversion, helping revenue teams double inbound conversion rates with its Concierge scheduling solution. This new release introduces Free and Spicy plans, including the first ever meeting automation tool for reps, Instant Booker. Customers have booked nearly six million meetings to-date with Chili Piper.

Try Chili Meetings for 14 days for free today at: (https://www.chilipiper.com/spicy).

Instant Booker makes it fast and easy for sales, customer success and support reps to book meetings in seconds from Google Calendar, Gmail, Outlook, Salesforce, Outreach, Salesloft, and more – complete with automated invites, reminders, rescheduling and CRM actions.

Chili Piper improves upon the standard booking link introduced by Calendly, with one-click booking, automated signatures and personal pages that make it easier for customers to book time on a rep’s calendar.

"We switched all our business units from Calendly to Chili Piper primarily because of the Salesforce integration and the streamlined user experience when scheduling handoff meetings for our prospects and clients," said Madeline Anderson, Business Operations Administrator at Buildertrend. "Now instead of just using booking links, the new Spicy license gives our team multiple ways to schedule meetings and stay connected to our customers."

As the only automated scheduling solution allowing both customers and reps to book meetings, Chili Meetings offers the unique benefit of capturing every buyer interaction in Salesforce, giving RevOps leaders greater piece of mind and accurate reporting.

"It’s been really helpful in removing friction from our revenue team members’ days, just being able to schedule something much more easily from a number of different sources," said Denis Malkov, Director of Revenue Operations at PandaDoc. "So whether they’re working in Salesforce, in their Chrome browser, or their Gmail account, they can get to Chili Piper through Instant Booker and get onto a customer’s calendar very fast."

Chili Meetings is now available in a "Spicy" version for $15 per user per month with a 14-day free trial. In addition, Chili Piper’s individual booking tools are now available without a CRM integration in its "Free" version. Learn more about Chili Meetings here: (https://chilipiper.com/blog/introducing-chili-meetings-spicy)

Both Free and Spicy offerings help revenue professionals automate the process of booking individual or group meetings from a variety of business tools, making it easier to connect with customers:

Use Suggested Times to book 13x more meetings with simple one-click scheduling
Use Instant Booker to book automated, templated meetings from any screen in seconds
Use Smart Email Signatures to offer easy one-click scheduling in every email
Use Personal Pages to share your availability and connect with the world

Chili Meeting’s two-way CRM integrations give you ultimate flexibility and control to build custom CRM workflows for specific teams and meeting types:

Create new leads and contacts
Create new events, related to accounts, cases or opps
Track and update meetings held, rescheduled, and cancelled
Pull CRM data into dynamic meeting templates and reminders

"Until today, revenue professionals had to use the same tools, Google Calendar or Outlook, as my 90 year old mother," said Nicolas Vandenberghe, CEO of Chili Piper. "With Chili Piper Spicy, a meeting is now much more than an entry in a database. It comes with templated invites, reminders, easy ways to schedule and reschedule, automated capture in CRMs and follow up workflows. It’s time for the digital transformation of sales!"

"The "Invite All" feature is a game-changer for us in increasing user adoption, reducing redundancy and improving sales productivity with Chili Piper," said Jennifer A. Hollingsworth, Social Media Digital Marketing Specialist at Kaon Interactive, Inc. "As a B2B company selling into enterprise-level B2B companies, most buying decisions are by committee — meaning most sales meetings, throughout the sales cycle, are held with multiple stakeholders. Hence, this seemingly tiny feature was a huge sticking point for our sales people. They expressed "great joy and gratitude" at the launch of this feature."

About Chili Piper
Founded in 2016, Chili Piper is the leader in Inbound Revenue Acceleration, with a mission to reinvent the system of action for revenue teams – their calendar and inbox. Chili Piper automates the antiquated processes in scheduling and email that cause unnecessary friction and drop-off in the sales process – resulting in increased productivity and conversion rates throughout the funnel.

Companies like Square, Twilio, QuickBooks Intuit, Spotify, and Forrester use Chili Piper to create an amazing experience for their leads, while converting double the amount of leads into held meetings. Chili Piper is a fully distributed company leveraging global talent with employees in 50 cities across 15 countries. To learn more, visit https://www.chilipiper.com/

Contact:
Jeremy Douglas
jdouglas@catapultpr-ir.com

Logo – https://mma.prnasia.com/media2/1230065/Chili_Piper_Logo.jpg?p=medium600

Business, News

Get Your Groceries from Tesco on foodpanda

November 17, 2020 Jimmy Chua Leave a comment

Leaving your home can be daunting now with COVID-19 on the rise. While there are measures in place to help control the spread, there are some that are still wary of the risks. That said, there’s also a group of us who would rather have our groceries come to us. Well, there’s good news for both sides – Tesco has partnered with foodpanda.

With the partnership, you will be able to order from Tesco’s catalog of over 3,000 items on foodpanda’s delivery service. The items range from fresh produce to groceries. These items will be delivered to your doorstep within 40 minutes of your order being confirmed.

The partnership will complement Tesco’s online grocery service: Tesco Online. It will serve as a way for users to get urgently needed groceries on demand while larger monthly or weekly orders can still be done via Tesco Online. This partnership will let customer rely more on Tesco as Foodpanda is a well-known delivery service and strengthen the presence of the platform.

“With the Covid-19 pandemic, customers have begun to change the way they shop. Many are looking for options where they can feel safe to purchase their necessities. This partnership with foodpanda will not only be convenient for Tesco’s loyal customers, but it will also help to address those who are concerned with having to leave the safety and comfort of their homes for a grocery run,” said Product Director, Kenneth Chuah.
Kenneth Chuah, Product Director, Tesco Malaysia

The service is available in the Klang Valley area. Users can order groceries from Tesco Paradigm Mall, Kepong, Extra Cheras, Extra Puchong, Bandar Puteri Bangi, Kajang, Bukit Puchong, Shah Alam, Wangsa Walk, Setia Alam and Selayang. They are planning to bring this service online to other areas soon.

Mobile, News

Samsung Unleashes New Exynos 1080 SoC

November 17, 2020 Leeden Tang Leave a comment

Samsung’s next-generation midrange SoC (system on a chip) is the newly introduced Exynos 1080. The new chipset offers the latest Cortex-A78 CPU cores paired with the latest Mali-G78 graphics core. It’s the first SoC in which Samsung is adopting a new 1+3+4 CPU configuration with one core clocked at 2.8GHz and 3 others at 2.6GHz. This is supplemented by 4 more Cortex-A55 cores which are clocked at 2.0GHz.

The chipset is built on a 5nm process, which has until now only been used by Apple in their A14 processor. The new 5nm, octa-core Exynos 1080 touts better performance with the new architecture and also boasts significant power efficiency boosts. According to Samsung, the single-core performance has been boosted by 50% while the multi-core performance is boosted by 100%.

In addition to the power savings from the architecture itself, Samsung has also introduced a power-saving solution it calls “Amigo Power”. The new solution will help monitor and optimize battery consumption. Samsung is touting that the solution will make the Exynos 1080 10% more power-efficient than its predecessor. Samsung has also spent some time optimising the NPU and DSP which boast a machine-learning interference power of 5.7TOPs indicating that any AI programs running on the SoC should be able to crunch more data at any given time. This should indicate better, quicker image post-processing and optimizations in both user experience and response speed.

Power consumption isn’t the only area Samsung is focusing on. The Exynos 1080 SoC can support a single 200MP camera or dual 32MP + 32MP sensors. On the video end of things, the processor is able to support shooting up to 4K resolution at 60fps.

Connectivity-wise, the Exynos 1080 is going to be able to support 5G on both the sub-6GHz and mmWave spectrum which indicates that the SoC could be making it to the U.S. given that, until now, the U.S. is the only country with official rollout of 5G on the Sub-6 wavelength. Aside from 5G, the SoC supports Cat.18 4G LTE connectivity. The Exynos 1080 will also support Bluetooth 5.2 connectivity. In addition to this, the SoC will support up to 144Hz refresh rate, LPDDR5 RAM and has UFS 3.1 compatibility.

The Exynos 1080 will be available in the market in Q1 of 2021. That said, it looks like it will be making its way to consumers in a new Vivo device first. It has been confirmed that the SoC will see its debut in the Vivo X60 series come 2021. Vivo will also be using last year’s Exynos 980 in their upcoming X30 series smartphones.

PR Newswire

Delta Recognized as a Best Taiwan Global Brand for the 10th Consecutive Year with an 11% Increase in Brand Value

November 17, 2020 TechENT Syndication Leave a comment

TAIPEI, Nov. 17, 2020 — Delta, a global leader in power and thermal management solutions, today announced it has been honored as one of Taiwan’s top 25 global brands in the prominent Best Taiwan Global Brands survey for the tenth consecutive year. The 2020 survey, organized by the Industrial Development Bureau and executed by Interbrand, the world-class branding value assessment organization, determined that Delta’s brand value reached USD 331 million in 2019, a surge of 11% year-on-year. Delta’s brand value has increased for 8 consecutive years.

Ms. Shan Shan Guo, Delta’s chief brand officer, said, "2020 is the tenth anniversary of Delta’s brand inauguration. Over that period of time, our endeavors have focused on realizing Delta’s brand promise of ‘Smarter. Greener. Together.’ and on fostering corporate social responsibility. We are truly honored to have received this prestigious external recognition over these ten years in which our brand has grown steadily while Delta has evolved from a components manufacturer into a provider of IoT-based smart energy-saving solutions. This year has been enormously challenging, especially due to COVID-19. But Delta quickly mobilized various online communication channels, such as digital marketing and social media, to offset the impact of restricted physical activities. During the pandemic, a new lifestyle boosts our demand for digital services and online communication that requires extra ICT infrastructure and datacenters. Healthy living and working spaces are also paramount. Delta will endeavor to continue providing state-of-the-art solutions for eco-friendly data centers, 5G communications, smart and healthy buildings and clean energy, to fulfill society’s needs in the pandemic and post-pandemic era."

The uniqueness of Delta’s brand derives from its commitment to innovation and energy conservation as well as its seamless integration of corporate social responsibility. The Company is the first corporation in Taiwan to pass the SBTi (Science Based Targets initiative) evaluation for its carbon reduction targets and has achieved respective milestones for the past two years. In 2019, Delta also increased the use of renewable energy of its main operation sites to 44.1%. Since 2006, Delta has created 27 green buildings around the globe, some of them donated to academic institutions. It is currently constructing new operation sites in Taipei, Taoyuan, Taichung and Tainan, all of which will also adopt the green building concept. Moreover, its new site in Taipei will also incorporate the concepts of the WELL Building Standard in its design. Delta has also established two LEED V4 ID+C certified data centers, including the world’s first LEED Platinum green data center at its global HQs in Taipei. The aforementioned CSR endeavors have been recognized by the Dow Jones Sustainability Indices (DJSI), which days ago selected Delta for its DJSI World Index for the 10^th consecutive year while recognizing it as the industry leader of the "Electronic Equipment, Instruments & Components industry" for the 3^rd consecutive year.

About Delta

Delta, founded in 1971, is a global leader in switching power supplies and thermal management products with a thriving portfolio of smart energy-saving systems and solutions in the fields of industrial automation, building automation, telecom power, data center infrastructure, EV charging, renewable energy, energy storage and display, to nurture the development of smart manufacturing and sustainable cities. As a world-class corporate citizen guided by its mission statement, "To provide innovative, clean and energy-efficient solutions for a better tomorrow," Delta leverages its core competence in high-efficiency power electronics and its CSR-embedded business model to address key environmental issues, such as climate change. Delta serves customers through its sales offices, R&D centers and manufacturing facilities spread over close to 200 locations across 5 continents.

Throughout its history, Delta has received various global awards and recognition for its business achievements, innovative technologies and dedication to CSR. Since 2011, Delta has been listed on the DJSI World Index of Dow Jones Sustainability™ Indices for 10 consecutive years. In 2017, Delta was selected by CDP (formerly the Carbon Disclosure Project) for its Climate Change Leadership Level for the 2nd consecutive year.

For detailed information about Delta, please visit: www.deltaww.com

PR Newswire

Mixcder E10 Wins Bronze Stevie® Award for State-of-the-Art Active Noise-Canceling Performance

November 17, 2020 TechENT Syndication Leave a comment

FAIRFAX, Va., Nov. 17, 2020 — Mixcder is excited to announce that its Mixcder E10 over-ear headphones have clinched a Bronze Stevie® Award in the consumer electronics category at the American Business Awards 2020 for its superior sound quality and industry-leading Active Noise-Canceling (ANC) performance.

Mixcder E10 Wins Bronze Stevie® Award for State-of-the-Art Active Noise-Canceling Performance

Leveraging industry-leading ANC product experience, Mixcder’s engineering team has developed the powerful ANC V4 Chip and high-sensitive noise-cancelling mics capable of blocking out 96% of low-frequency ambient sound.

Powered by Bluetooth 5.0 that supports Aptx-LL (Low Latency), the Mixcder E10 delivers a synchronized and well-balanced Hi-Res sound quality. A perfect audio companion for people always on the go and the first headphones in the E-series to feature Mixcder Super Charging (MSC) Technology, the Mixcder E10 boasts up to 30 hours of listening time and allows users to juice up the device for 3 hours of wireless playback within a few minutes.

"Mixcder E10 is our big leap forward in offering high-quality and cost-effective ANC headphones to global customers. Mixcder E10 is packed with a host of must-have features to offer a premium audio experience for frequent travelers and audiophiles alike," said David Wu, CEO of Mixcder.

"The award is not only the recognition of our efforts in achieving this milestone but also a testimony to Mixcder’s expertise in delivering best-in-class audio products and our commitment to pushing the boundaries of a personal listening experience," David added.

Established by a collective of trendsetters and music enthusiasts, the R&D team of Mixcder is composed of 30 acoustic, and electronic experts specialized in ergonomics, audio, and fashion design which share the same vision of elevating the listeners’ experience.

Fusing the latest innovations for high-quality audio and wireless technologies, every product at Mixcder is designed with a core concept in mind – sound, comfort, aesthetics and functionality. For over five years, Mixcder has pioneered noise-cancelling technology, along with its unique Euphonious Sound, to deliver truly immersive sound with pristine accuracy.

Mixcder has also launched E7, E8, E9, E9 Pro ANC headphones that are available on Amazon in the UK, Germany, Spain, France, Italy and the Netherlands.

About Mixcder

Founded in 2015 in California, the United States, Mixcder is an audio brand that integrates both technology and art into its design, with the products ranging from earphones and speakers to audio accessories. For more information, please visit: https://mixcder.com/.

Contact: Nydia Zhang, nydia@mixcder.com, +86-755-29422070

Nippon Shokubai Teams with LiveDo and Total Care System to Spread Used Disposable Diaper-recycling Systems

November 17, 2020 TechENT Syndication Leave a comment

OSAKA and FUKUOKA, Japan, Nov. 17, 2020 —

– New Recycling Technology Developed for Superabsorbent Polymers –

Nippon Shokubai Co., Ltd. (hereinafter "Nippon Shokubai"), LiveDo Corporation (hereinafter "LiveDo"), both headquartered in Osaka, Japan, and Total Care System Co., Ltd. (hereinafter "Total Care System") headquartered in Fukuoka, Japan, are jointly developing a variety of technologies to promote the spread of systems that recycle disposable diapers, the use of which continues to increase. The three companies have recently developed a new technology for recycling superabsorbent polymers (SAPs) in used diapers. The technology can be applied to a wide variety of SAPs distributed worldwide.

(Logo1:
https://kyodonewsprwire.jp/prwfile/release/M104641/202011116944/_prw_PI1fl_Q2ok72W0.jpg)

(Logo2:
https://kyodonewsprwire.jp/prwfile/release/M104641/202011116944/_prw_PI2fl_VCLHmJe9.jpg)

(Logo3:
https://kyodonewsprwire.jp/prwfile/release/M104641/202011116944/_prw_PI3fl_rjpku8Ze.jpg)

On March 31, 2020, the Ministry of the Environment released the Guidelines for Recycling Used Disposable Diapers. The Ministry of Land, Infrastructure, Transport and Tourism (MLIT) is also aiming to establish a guideline for the acceptance of used disposable diapers into the sewage system based on the New Sewerage Vision Acceleration Strategy. Recycling of used disposable diapers, the amount of which continues to increase, is thus expected to be promoted.

Total Care System was the first in Japan to build a recycling system for used disposable diapers, one of the few in the world, and it has been in the business for 15 years. Disposable diapers are mainly composed of pulp, plastic, and SAPs. Recycled pulp has been effectively used as a raw material for building materials (e.g., exterior and interior wall materials), and plastic has been thermally recovered as solid fuel. Currently, research and development of material recycling are underway.

Nippon Shokubai, which has the world’s largest SAP market share (based on production volume*), joined the initiative in November 2018 to explore recycling technologies for SAPs, which had remained a challenge, and succeeded in developing new recycling technologies through joint research with the two partners: major disposable diaper manufacturer LiveDo and Total Care System.

*Based on research by Nippon Shokubai in 2019

– Recycling of used disposable diapers

(Image:
https://kyodonewsprwire.jp/prwfile/release/M104641/202011116944/_prw_PI4fl_L86P245L.jpg)

The recycling process for used disposable diapers used to face the challenge that SAPs, which would swell from absorbing urine, reduced the recovery rate of paper pulp, or even if SAPs were recovered, they were difficult to reuse because of the significant decrease in performance.

The three companies jointly developed the following technologies to overcome this challenge.

– Technology to increase the recovery rate of paper pulp by processing SAPs, which swell from absorbing urine, and to improve the separation from paper pulp

– Recovery technology that minimizes SAP performance degradation
These technologies are designed to reduce energy consumption during recycling and to protect the water quality of rivers and other bodies of water. They can also be applied to all SAPs produced by Nippon Shokubai, as well as to various SAPs around the world.

In addition to raising these technologies to a practical level, the three companies, which are a raw material manufacturer, a disposable diaper manufacturer, and a recycling business, plan to work together to develop and commercialize materials and products that are easy to recycle and new recycling technology for used disposable diapers.

– Roles of the three companies:
https://kyodonewsprwire.jp/prwfile/release/M104641/202011116944/_prw_PA2fl_YnItx20j.pdf

– For more information, please visit:
https://kyodonewsprwire.jp/prwfile/release/M104641/202011116944/_prw_PA1fl_F3nGOzD0.pdf

*All product and service names mentioned in this news release are trademarks or registered trademarks of their respective companies.

*The information in this news release is current as of the date of the announcement. The information is subject to change without prior notice.

Business

Hybrid Cloud: Doing More with Less

November 17, 2020 Avinash Gowda Leave a comment

As Malaysia enters a fresh wave of movement restriction measures and lockdowns, local businesses have once again been cornered to adapt and find their footing with digital transformation initiatives.

Although the pandemic has accelerated the uptake of digital business technologies, many leaders are still unsure of how to approach their transformations given the current challenges. Global Data’s Market Opportunity Forecasts model reveals that many businesses in Malaysia will delay their long-term digital transformation initiatives until at least 2021 to mitigate the risk of financial instability in business operations.

While forecasts remain gloomy, there is a way forward. Gartner has identified that IT leaders can successfully navigate this uncertainty by achieving a TechQuilibrium – the balance point at which an enterprise has the right mix of traditional and digital capabilities and assets to power the business model needed to compete most effectively.

So, how can enterprises find their TechQuilibrium? By leveraging technology that can help them do more with less, starting with the cloud. The cloud has played a significant role in helping many businesses survive — and even thrive – as operations moved online and employees shifted to remote work during the health crisis.

Businesses are looking to eliminate complexities and streamline processes. They need to have the agility to react to market changes and take advantage of opportunities. They need to be able to move quickly, to adapt and make changes to stay relevant and minimize costs. The good news is that cloud technology can help in all these areas.

The complexity of the Hybrid Cloud

The cloud journey can isn’t always smooth sailing, especially when businesses choose to take a hybrid cloud approach – a mixed computing, storage and services environment made up of on-premises infrastructure, private cloud and third-party public cloud services.

Implemented well, hybrid environments offer the advantages of both private and public clouds and help to drive the best return on IT investments. Businesses have the capability to move workloads between private and public clouds as computing budgets and needs change.

abstract art blur bright — Photo by Pixabay on Pexels.com

However, things can get messy when the rubber meets the road — mainly because collapsing operational silos is often easier said than done.

According to Nutanix research, a majority of organizations in Asia Pacific and Japan (APJ) see hybrid cloud as the ideal cloud approach but an alarming 72% believe that their transformation is taking longer than expected.

So, what exactly is holding organisations back?

A great deal of it has to do with the complexity of synchronizing private and public cloud technologies. Amazon Web Services (AWS) and Microsoft Azure, for instance, each have their own expansive, high-powered toolbox for managing resources in public cloud servers. On the other hand, private, on-premises clouds often use different tools and interfaces.

Reconciling the differences between private and public clouds can get expensive and time-consuming, but a hybrid cloud environment can also be a marvel of power and flexibility — if IT teams have the tools to seamlessly coordinate their public and private clouds.

Reconciling the Conflicts

In a nutshell, private clouds are public cloud-like solutions built on conventional on-premises data centres with racks of computing, networking and storage gear. Public clouds, on the other hand, are giant server farms operated by Amazon, Google, Microsoft and other technology platform companies.

Private and public clouds have different use cases. The consensus is that private clouds work best for industries with sensitive data — such as the public sector and financial services — where tight security and abundant, concentrated computing power is critical. By contrast, public clouds are known to be ideal for rapid software development and services that must scale up or down quickly.

That said, in this rapidly evolving environment where flexibility is key, enterprises need to be able to move resources like applications, containers and virtual machines between public and private clouds.

This is where hybrid environments come into play. An encrypted highway of sorts, hybrid cloud allows businesses to meld on-premise, private and public cloud capabilities.

However, until now, it was nearly impossible to move applications across platforms without re-architecting them. One component of tackling this challenge is to implement a unified cloud platform to manage workloads in both environments. Still, to be truly hybrid, businesses need help getting their workloads to flow seamlessly between public and private clouds.

Getting Down to Bare-Metal Level

Over the past year, I have come to realise that enterprises often need much more control over their public cloud resources than we as an industry previously believed. Here’s where utilising public cloud “bare-metal” compute instances with dedicated servers are critical. Bare-metal instances can enable businesses to build their hybrid cloud environments with ease, which typically would have required substantial expertise to master.

Why is this important? The team that manages an on-prem infrastructure may not be the same one managing the cloud infrastructure. This can then result in unnecessary costs and time spent, because different people do essentially the same job on separate cloud architectures.

Instead, businesses should utilise a hybrid cloud platform that would allow on-prem and cloud services to work the same way in both on-prem and bare-metal public cloud instances, all while breaking down silos. IT teams can then be more comfortable to manage their environments, without worrying about unexpected costs or needing to custom-build existing applications. This has proven useful for organisations in sensitive industries such as finance, and even businesses who have to manage demand spikes during the year.

Bare-metal compute offers businesses the opportunity for complete portability and flexibility. It provides superior economics and help teams manage and administer their multiple cloud environments through one unified, seamless IT operating environment, while keeping costs down.

Supporting Future of Work

There are several use cases for businesses to invest in a unified hybrid cloud management tool, and we have seen these come to life this year especially.

A flexible hybrid cloud platform allows businesses to support a remote workforce while adding secure connections for employees working from home. While businesses are beginning to reopen their offices, remote work could be a potential fixture in the future workforce.

young lady typing on keyboard of laptop in living room — Photo by Vlada Karpovich on Pexels.com

An analysis by Deloitte found that up to 4.1 million people in Malaysia – or 26 percent of the workforce – could shift to working remotely over a multi-year time horizon. A hybrid cloud platform can enable organisations to support this future.

External factors such as seasonality, like the upcoming holiday shopping season, may require some businesses to ramp up computing resources. 2020 is also known to be the year of disruption, increasing the impetus for businesses to strengthen disaster recovery and reduce downtime after a disaster. A unified hybrid cloud platform can enable businesses to spin up more capacity and shrink it when they need it, without having to reinvent these environments.

Ensuring Hybrid Success

There is a rule of thumb that Nutanix takes with software development. We focus on getting our product out in front of the customers, letting them try it out, gathering feedback, fixing bugs and iterating quickly to generate improvements. We also discuss directly with customers to identify their pain points and everyday challenges.

Business leaders should tap into this methodology to ensure that hybrid environments deliver the most value to the organisation’s users.

Hybrid clouds are more than an emerging trend. It is a new set of technologies and IT operating models that is reshaping how organisations across different industries will function now and in the future.

eSports, Gaming, News

Garena Announces the Free Fire Continental Series with USD$900,000 Prize Pool

November 17, 2020 Leeden Tang Leave a comment

Garena has announced a brand-new format and schedule of Free Fire’s international tournament for this year. The new Free Fire Continental Series (FFCS) will be the game’s first series to happen online only. The tournament comprises of three separate series which will be held from 22nd November to 29th November simultaneously around the world.

The three different series that will run simultaneously are the American series, the EMEA series and the Asia series. The Americas series consists of Brazil and the rest of Latin American whereas the Asia series will include Taipei, Indonesia, Malaysia, Pakistan, Thailand and Vietnam. On the other hand, the EMEA series will involve Europe, Russia, the Middle East and North Africa.

The Free Fire Continental Series will have a combined prize pool of USD$900,000 (MYR3,705,452.72). This will be split equally over the three series; Each series will have US$300,000 up for grabs. To earn their pot, teams will need to pass through two stages: the Play-ins and the Finals. Teams competing in the Play-ins and the Finals will be seeded from the recently concluded Free Fire Tri-nation Cup.

Each team will have to battle over 6 rounds across 3 maps and points will be awarded based on round ranking and the number of kills. Contenders will be playing on the Bermuda, Purgatory and Kalahari maps in Free Fire. The top-seeded teams from each local-level tournament will earn the rights to enter their respective Grand Finals. However, the rest of the teams can only earn their place to be in the Grand Finals by beating the other teams in the region.

Kehormatan Melalui Penaklukan | Teaser Siri Benua Kebakaran Percuma 2020

The Grand Finals will be contested by the number one teams from each of the countries in the Asia series which consists of Tapei, India, Malaysia, Pakistan, Thailand and Vietnam. On the other hand, the second- and third-seeded of the Asia series will battle against each other to get into the five coveted Grand Final spots.

techENT

Yearly Archives: 2020

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Samsung Unleashes New Exynos 1080 SoC

Delta Recognized as a Best Taiwan Global Brand for the 10th Consecutive Year with an 11% Increase in Brand Value

Mixcder E10 Wins Bronze Stevie® Award for State-of-the-Art Active Noise-Canceling Performance

Nippon Shokubai Teams with LiveDo and Total Care System to Spread Used Disposable Diaper-recycling Systems

Garena Announces the Free Fire Continental Series with USD$900,000 Prize Pool

Tech Your Way