Monthly Archives: June 2021

PR Newswire

Meituan Launches Green Tech Fund, and Other Initiatives on World Environment Day

Leave a comment

HONG KONG, June 5, 2021 — Meituan (HKG: 3690) (the "Company"), China’s leading e-commerce platform for services, today announced the launch of the Meituan Green Tech Fund and a series of green initiatives to celebrate World Environment Day.

Meituan is allocating an initial amount of RMB 500 million for the Meituan Green Tech Fund to drive low-carbon green development together with industry organizations, researchers and scientists. In response to China’s carbon neutral efforts as a whole, this particular initiative aims to support the research and application of green technologies through charitable causes. 

The United Nations has designated June 5th as World Environment Day, with this year’s theme: "Reimagine.Recreate.Restore." While this day has been celebrated since 1972, recent challenges caused by climate change and COVID-19 have brought environmental issues into focus with a greater sense of urgency. Meituan’s efforts strongly align with the United Nations’ goal of ecosystem restoration, and this new fund furthers the Company’s existing sustainability commitments.

The fund will focus on two initiatives, the Meituan Green Tech Award and a demonstration project. The Meituan Green Tech Award will support emerging researchers’ and scientists’ studies on fundamental technologies that support China’s low-carbon and circular development strategy. The demonstration project will encourage innovative applications in eco-friendly packaging, recycling, and smart supply chain operations.

This year, the Meituan Green Tech Award plans to support 10 researchers who focus on green and low-carbon packaging, carbon capture and utilization, low-carbon transport and energy storage studies, allocating a one million RMB award to each of them. The demonstration project will consist of 10 entities that deploy innovative applications in food delivery green packaging, plastics recycling, and big data supply chain developments, with a one to three million RMB fund designated for each of them.

Applications for both the tech award and the demonstration project will officially open for registration in late August, 2021.

Meituan is also launching a "carbon account" for its delivery merchants and users. Starting June 9th, merchants will be able to log and track their environmental protection efforts in their merchant app, including data on their reduction of disposable products and use of recycled packaging. Users can now track their carbon footprints in the Meituan app, by monitoring their "no-disposable cutlery" order history and eco-friendly transportation mileage data, which is accumulated through shared Meituan Bikes rides.

Meituan launched the Blue Mountain Project (青山计划) in August 2017 to drive sustainability efforts in the food delivery industry, bringing together merchants and users to participate in environmental protection initiatives. As part of its green life cycle management philosophy, Meituan Bikes recycles disposed polyurethane tires from its shared bikes and electric mopeds, using the material to build running tracks and sports grounds for people in remote areas. As of today, Meituan has created 10 such sports grounds in provinces such as Sichuan and Guizhou, benefiting over 5,000 students and residents. The Company plans to donate an additional 10 sports grounds by 2022.

A sports ground donated to a rural primary school in Sichuan province, created with recycled materials from 3,500 Meituan Bikes tires
A sports ground donated to a rural primary school in Sichuan province, created with recycled materials from 3,500 Meituan Bikes tires

About Meituan

Meituan (HKG: 3690) (the "Company") is China’s leading e-commerce platform for services. With the mission of "We help people eat better, live better," the Company’s platform uses technology to connect consumers and merchants. Service offerings on the platform address people’s daily needs for food, and extend further to broad lifestyle and travel services. Meituan is the world’s leading on-demand food delivery service provider and China’s leading e-commerce platform for in-store dining services. Meituan helps consumers discover merchant information, make informed decisions, complete online and offline transactions and enjoy on-demand delivery. The Company currently owns several household brands in China, including Meituan, China’s leading online marketplace for services, Dianping, China’s leading online destination for discovering local services, Meituan Waimai for on-demand delivery services, and Meituan Bikes for bike-sharing services. Meituan has 569.3 million Annual Transacting Users and 7.1 million Annual Active Merchants as of March 31, 2021. The Company operates in over 2,800 cities and counties in China.

For media inquiries, please contact:

Meituan
pr.global@meituan.com

Edmond Lococo
ICR Inc.
Email: Edmond.Lococo@icrinc.com
Tel: +86 138-1079-1408

Related Links :

https://www.meituan.com/

PR Newswire

Mercurity Fintech Holding Inc. Reports First Quarter 2021 Financial Results

Leave a comment

BEIJING, June 5, 2021 — Mercurity Fintech Holding Inc. (the "Company" or "MFH") (Nasdaq: MFH) today announced its unaudited financial results for the first quarter ended March 31, 2021.

First Quarter 2021 Financial and Operating Highlights

  • Q1 2021 GAAP revenues of $81 thousand, compared to $1,392 thousand in Q1 2020.
  • Q1 2021 GAAP gross profit of $47 thousand, compared to $1,313 thousand in Q1 2020.
  • Q1 2021 GAAP net loss of $4,554 thousand, compared to a profit of $1,068 thousand in Q1 2020.
  • Q1 2021 Non-GAAP net loss of $721 thousand, compared to net income of $1,068 thousand in Q1 2020.

Ms. Alva Zhou, Chairperson of the Board and Co-Chief Executive Officer, said: "Our operating results from this quarter continued to reflect the stages of our ongoing business transition. A business transition is not a linear process and often takes time, and revenues from our new DeFi platform related products have yet to materialize. We are going to seek new market opportunities in the digital assets industry as we continue to execute our strategic transition, and we remain committed to our goals of creating sustainable growth and delivering strong performance results to our shareholders."

Changes to the Board of Directors and Management Team in the First Quarter 2021

On March 4, 2021, Mr. Liu Hao was appointed as a Director and Mr. Huang Cong as an Independent Director to the Company’s Board of Directors (the "Board"), effective from March 4, 2021.

On April 30, 2021, the Company appointed Mr. Liu Hao as co-Chief Executive Officer, effective from May 1, 2021.

Mr. Haohan Xu resigned as a Director of the Board due to personal reasons, effective on June 5, 2021.

Mr. Erez Simha, President and Chief Financial Officer, has resigned to pursue other opportunities, effective on June 5, 2021. Mr. Liu Hao, director and co-Chief Executive Officer, will take on the role of acting Chief Financial Officer of the Company, effective upon Mr. Simha’s departure.

Recent Developments

On April 13, 2021, the Company and certain investors entered into a Share Subscription and Warrant Purchase Agreement ("Subscription Agreement") pursuant to which the investors agreed to purchase a total of 537,143,470 ordinary shares of the Company ("Ordinary Shares") and warrants to purchase up to 537,143,470 Ordinary Shares for an aggregate consideration of US$10,000,000, to be settled in the form of 172.9354 bitcoins. The transaction has not been closed by the latest closing date as provided in the Subscription Agreement. The Company’s management team is negotiating new terms and conditions with the investors. 

FINANCIAL RESULTS

Summary of First Quarter Results:

Revenues for the first quarter of 2021 were $81 thousand, compared to $1,392 thousand in the same period last year. Revenues for the first quarter of 2021 comprised of software development fees from a client who entered into a contract with the Company in July 2020 and service fees from the DeFi platform.

Cost of revenues for the first quarter of 2021 was $35 thousand, compared to $79 thousand in the same period last year. The cost of revenues was primarily attributable to direct costs related to the contract signed in July 2020. 

Gross profit for the first quarter of 2021 was $47 thousand, compared to $1,313 thousand in the same period last year.

General and administrative expenses for the first quarter of 2021 were $4,601 thousand, compared to $245 thousand in the same period last year. General and administrative expenses consisted primarily of $3,833 thousand in stock-based compensation costs and $768 thousand in employment costs, office expenses, and professional fees. The increase in stock-based compensation expenses was primarily due to: (1) awards of 587,000 Restricted Stock Units (1 RSU equals 360 ordinary shares) during the quarter, and (2) the vesting acceleration of previously granted Restricted Stock Units. In addition to stock-based compensation, the increase in general and administrative expenses primarily reflected increases in employment costs and office expenses as a result of the Company’s acquisition of NBpay Investment Limited in March 2020. 

Loss from operations for the first quarter of 2021 was $4,554 thousand, compared to income from operations of $1,068 thousand in the same period last year.

Loss before provision for income taxes for the first quarter of 2020 was $4,554 thousand, compared to income before taxes of $1,068 thousand in the same period last year.

Non-GAAP net (loss)/income attributable to Mercurity Fintech Holding Inc. is a non-GAAP measure which excludes amortization of acquired intangible assets, impairment loss, share-based compensation, and related provision for income tax expenses. Non-GAAP net loss attributable to MFH for the first quarter of 2021 was $721 thousand, compared to a net income of $1,068 thousand in the same period of last year.

Cash and cash equivalents were $287 thousand as of March 31, 2021, compared to $175 thousand as of December 31, 2020.

Total shareholders’ equity was $10.2 million as of March 31, 2021, compared to total shareholders’ equity of $10.2 million as of December 31, 2020.

Non-GAAP Measures

To supplement the Company’s consolidated financial statements presented in accordance with U.S. generally accepted accounting principles ("U.S.GAAP"), the Company uses non-GAAP financial measures, including Non-GAAP net (loss)/income attributable to Mercurity Fintech Holding Inc., that is adjusted from results based on U.S. GAAP to exclude amortization of acquired intangible assets, impairment loss, share-based compensation and related provision for income tax expenses. The non-GAAP financial information is provided as additional information to help investors compare business trends among different reporting periods on a consistent basis and to enhance investors’ overall understanding of the historical and current financial performance of the Company’s operations and prospects for the future. The non-GAAP financial information should be considered in addition to results prepared in accordance with U.S. GAAP but should not be considered a substitute for or superior to U.S. GAAP financial results. In addition, the Company’s calculation of this non-GAAP financial information may be different from the calculation used by other companies, and therefore comparability may be limited. A limitation of using these non-GAAP financial measures is that amortization of acquired intangible assets, impairment of goodwill, share-based compensation and related provision for income tax benefits have been and may continue to be for the foreseeable future significant recurring expenses in the Company’s results of operations. The Company compensates for these limitations by providing reconciliations of non-GAAP financial measures to U.S. GAAP financial measures. Please see the reconciliation tables at the end of this earnings release.

BUSINESS OUTLOOK

Due to uncertainty as a result of the continued product development and business transition, the Company will not provide a financial forecast for Q2 2021.

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 "aim," "anticipate," "believe," "estimate," "expect," "hope," "going forward," "intend, " "ought to, " "plan, " "project," "potential," "seek," "may," "might," "can," "could," "will," "would," "shall," "should," "is likely to" and the negative form of these words and other similar expressions. Among other things, statements that are not historical facts, including statements about the Company’s beliefs and expectations are or contain 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. All information provided in this press release is as of the date of this press release and is based on assumptions that the Company believes to be reasonable as of this date, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

CONTACTS

Xingyan Gao
Mercurity Fintech Holding Inc.
ir@mercurity.com
Tel: +86 (10) 5360-6428   

 

MERCURITY FINTECH HOLDING

CONSOLIDATED STATEMENTS OF OPERATIONS

(US dollars in thousands, except for number of shares and per share (or ADS) data)

Three months End March 31,

2021

2020

Revenues

Third parties

$                       81

$            1,392

Total revenues

81

1,392

Cost of revenues

(35)

(79)

Gross profit

$                       47

$            1,313

Operating expenses:

General and administrative

(4,601)

(245)

Impairment loss

–

–

Total operating expenses

$                (4,601)

$             (245)

(Loss)/income from operations

$                (4,554)

$            1,068

Interest income, net

–

–

(Loss)/income before provision for income taxes

$                (4,554)

$            1,068

Income tax benefits/(expenses)

–

–

(Loss)/Income from continuing operations

$                (4,554)

$            1,068

Net loss

$                (4,554)

$            1,068

Net loss attributable to holders of ordinary shares of  Mercurity
Fintech Holding Inc.

$                (4,554)

$            1,068

Net loss per ordinary share

Basic

$                  (0.00)

$              0.00

Diluted

$                  (0.00)

$              0.00

Weighted average shares used in calculating net loss per ordinary share

Basic

3,132,033,168

2,360,008,957

Diluted

3,132,033,168

2,360,008,957

Net loss

$                (4,554)

$            1,068

 

MERCURITY FINTECH HOLDING

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(US dollars in thousands)

Three months End March 31,

2021

2020

Net loss

$                (4,554)

$            1,068

Other comprehensive (loss)/income, net of tax of $nil:

Change in cumulative foreign currency translation adjustment

(3)

(26)

Comprehensive loss

$                (4,557)

$            1,042

 

MERCURITY FINTECH HOLDING

CONSOLIDATED BALANCE SHEETS

(US dollars in thousands)

March 31, 2021

December 31, 2020

ASSETS:

Current assets:

Cash and cash equivalents

$                287

$                      175

Accounts receivable

1,311

1,528

Prepaid expenses and other current assets, net

80

102

Amounts due from related parties

572

666

Total current assets

2,250

2,471

Non-current assets:

Intangible assets, net

389

383

Goodwill

8,107

8,107

Total non-current assets

8,496

8,490

TOTAL ASSETS

$           10,746

$                 10,961

LIABILITIES AND SHAREHOLDER’S EQUITY :

Current liabilities:

Accrued expenses and other current liabilities

$                471

$                      678

Amounts due to related parties

31

31

Total current liabilities

$                502

$                      709

Non-current liabilities:

Total non-current liabilities

–

–

TOTAL LIABILITIES

$                502

$                      709

Shareholders’ equity:

Ordinary shares

$                  35

$                        30

Additional paid-in capital

653,690

649,146

Accumulated deficits

(644,574)

(640,020)

Accumulated other comprehensive (loss)/income

1,093

1,096

Total shareholders’ (deficit)/equity

$           10,244

$                 10,252

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

$           10,746

$                 10,961

 

MERCURITY FINTECH HOLDING

Reconciliation of Non-GAAP financial measures to comparable GAAP measures

(US dollars in thousands)

Three months End March 31

2021

2020

Income/(Loss) from continuing operations

$     (4,554)

$       1,068

Net loss attributable to Mercurity Fintech Holding Inc.

(4,554)

1,068

Amortization of acquired intangible assets (a)

–

–

Provision for income tax expenses (b)

–

–

Share-based compensation (c)

3,833

–

Impairment loss (d)

–

–

Non-GAAP (loss)/income from continuing operations (d)

$        (721)

$       1,068

Non-GAAP net (loss)/income attributable to Mercurity Fintech Holding Inc.(a)(b)(c)(d)

$        (721)

$       1,068

Notes:

(a) Adjustment to exclude amortization of acquired intangible assets
(b) Adjustment to exclude provision for income tax expenses
(c) Adjustment to exclude share-based compensation
(d) Adjustment to exclude impairment loss

Related Links :

http://ir.ccjmu.com/

PR Newswire

QueryPie, the data governance platform, becomes Okta Integration Network partner in Korea

Leave a comment

SEOUL, South Korea, June 4, 2021 — QueryPie, the data governance platform, now has verified integration with Okta and is available through the Okta Integration Network (OIN), for the first time in Korea. By enabling technical partnerships in addition to its affiliation with Okta’s OIN Network, QueryPie intends to highlight more successful customer use cases in the future. QueryPie is a member of Born2Global Centre.

QueryPie and Okta CI
QueryPie and Okta CI

"As Okta increases momentum with its partner network across Asia, we are thrilled to partner with QueryPie and extend our reach locally. Together with QueryPie as part of Okta Integration Network, businesses will be able to seamlessly tap into Okta’s tools for simplifying the digital workflow," said Matthew Paull, Okta’s Director of Regional Alliances for Asia Pacific.

The Okta Integration Network is a part of Okta’s partner ecosystem, enabling secure access to third-party services with SaaS applications integrations. QueryPie supports SAML-based authentication through Okta’s partner ecosystem. Okta’s account management service makes it simple for organizations to access QueryPie’s services.

Developed by a team of database experts at CHEQUER, QueryPie is an advanced data governance solution that makes it simple to manage scattered data sources and security policies in a single place. QueryPie provides data governance within the organization by delivering user-specific data access management and auditing through a web-based solution. In response to the increasing regulations and compliance on data, companies such as Kakao and Yanolja adopted QueryPie to enhance security policy and comply with laws such as PCI-DSS.

"We’re thrilled to become a part of the Okta Integration Network," said Brant Hwang, CEO of CHEQUER. "Today, a lot of data teams struggle to manage data since data sources are scattered everywhere, which makes it hard to follow up on who owns and uses them, where data goes, and how they’re being used. We offer streamlined access control and privacy solutions that seamlessly integrate with existing data environments, including Okta’s identity provider system. We are currently working to leverage this opportunity to broaden QueryPie’s user base in Korea to include both startups and enterprises and produce tangible results for both platforms by connecting Okta to clients interested in simplifying their digital transformation workflow – Identity provider service or data governance."

Okta is the leading independent identity provider. The Okta Identity Cloud enables organizations to securely connect the right people to the right technologies at the right time. With more than 7,000 pre-built integrations to applications and infrastructure providers, Okta provides simple and secure access to people and organizations everywhere, giving them the confidence to reach their full potential.

For more detailed information on QueryPie, visit https://www.querypie.com.

About QueryPie

QueryPie (www.querypie.com) is a centralized platform to manage scattered data sources and security policies all in one place. With the all-in-one solution, data teams can now simplify data privacy regulations while streamlining access management and increasing security. QueryPie enables organizations to prepare for compliance frameworks such as GDPR, CCPA, and HIPAA by enforcing policies from one place.

About Okta

Okta (www.okta.com) is the leading independent provider of identity for the enterprise. The Okta Identity Cloud enables organizations to securely connect the right people to the right technologies at the right time. With over 7,000 pre-built integrations to applications and infrastructure providers, Okta customers can easily and securely use the best technologies for their business. More than 10,650 organizations, including JetBlue, Nordstrom, Slack, T-Mobile, Takeda, Teach for America and Twilio, trust Okta to help protect the identities of their workforces and customers.

About Born2Global Centre

Born2Global Centre (www.born2global.com) is a full-cycle service platform for global expansion. Since its inception in 2013, Born2Global has been setting the standard for a successful startup ecosystem as the main Korean government agency under the Ministry of Science and ICT. Born2Global has expanded and transformed startups to be engaged, equipped and connected with the global market.

Media Contact

CHEQUER
Celine Lee, Marketing Manager
celine@chequer.io

Okta Asia Pacific
Jennifer Alejandro, Director of APJ Communications & Content
jennifer.alejandro@okta.com

Born2Global Centre
Jina Lee, PR Manager
jlee@born2global.com

PR Newswire

MessageMedia announces new integration for HubSpot for integrated text messaging

Leave a comment

The partnership delivers the only five-star certified SMS app to the HubSpot sales and marketing community

DENVER, June 4, 2021 — Global business messaging provider MessageMedia (www.messagemedia.com) has launched SMS for HubSpot (https://ecosystem.hubspot.com/marketplace/apps/marketing/marketing-automation/messagemedia-218459), an integration with the leading CRM platform for scaling companies and has joined HubSpot’s App Partner Program as an app partner with a certified integration.

With an increasing rise in email clutter and marketing noise, SMS cuts through with 90% read within 90 seconds (http://www.oracle.com/us/dm/omc-wp-mme-mobilemktg-15-4121699.pdf). There is a growing demand for hyper-personalized communications received in real-time, that truly engages.

The SMS for HubSpot integration, available globally, provides marketers with the ability to gain a single view of their customers through personalized cross-channel campaigns, all from within HubSpot’s CRM platform. HubSpot users can seamlessly add the cut-through of SMS reminders, confirmations, promotions and more to extend the effectiveness of their communications and marketing strategies.

Paul Perrett, Chief Executive Officer at MessageMedia said, "The need for businesses to be agile and adjust to changing customer behavior and preferences is greater than ever.

"We’re thrilled to launch SMS for HubSpot and to have our integration certified in their App Partner Program as we continue to help businesses around the world drive greater ROI, strengthen customer relationships, and increase referrals while saving time and money," said Mr Perrett.

To become a certified integration, integrations are required to meet specific criteria from HubSpot to successfully service and manage clients using the platform. SMS for HubSpot has also been featured as part of HubSpot’s exclusive Workflows app collection.

"At HubSpot, we’re always looking for innovative companies to bring into the HubSpot ecosystem," said Scott Brinker, VP of platform ecosystem at HubSpot. "We’re excited to have MessageMedia as a member of our App Partner Program and are confident they’ll bring meaningful value to our customers."

Last year, leading ecommerce retailer Vinomofo started using the MessageMedia and HubSpot integration to win back customers who had stopped purchasing wine for up to 12 months. Previously, they had used email campaigns but wanted to avoid relying solely on one form of customer communication. They decided to streamline and integrate all marketing and communication tools and processes into a single solution – HubSpot’s all-in-one connected platform.

Using SMS for HubSpot, Vinomofo was able to create automated workflows that segmented their customer base based on their last purchase dates, then send and track SMS activity within the one platform. Adding text messaging to their marketing toolkit achieved greater cut-through and re-engagement with customers they hadn’t been able to reach before. This resulted in a 50% increase in recovered customers, 21% more customer conversations, and 120x return on investment.

"We chose SMS in addition to email to help reduce churn because it allows us to reach more customers which creates better cut-through and engagement for our campaigns," said Mariano Favia, Head of Marketing at Vinomofo.

About MessageMedia

MessageMedia (www.messagemedia.com) is a global messaging provider that helps businesses of all sizes — from SMBs to enterprise-level — better connect with customers. With 90 per cent of messages read within 90 seconds and more than 65,000 customers worldwide, MessageMedia drives business success by creating engaging mobile experiences that customers love. With offices across the United States, Australia, United Kingdom, and New Zealand, MessageMedia is the number one choice for easy and engaging global business messaging.

Related Links :

http://www.messagemedia.com

PR Newswire

WhaleTeq Launches First AED Management Platform with DFS200 to Provide Most Effective and Efficient Maintenance Solution

Leave a comment

TAIPEI, June 4, 2021 — WhaleTeq, a Taiwan-based Innovative medical device testing solution company, launches the first AED management platform with their latest defibrillator tester, DFS200, to fill in the AED testing and maintenance gap. AED testing and maintenance is of great importance as AED failures can be life-threatening.

AED Management Platform with DFS200 (for reference only)
AED Management Platform with DFS200 (for reference only)

Despite the potential consequences of AED failures, AED aftercare and maintenance is not a standard service provided by most suppliers. The lack of awareness concerning the low availability of AEDs is a significant factor in this neglect. In addition, current maintenance methods are costly and infrequent since they require well-trained professionals to perform manual inspections. Seeing the need for an accessible means to ensure AEDs’ safety and reliability, WhaleTeq endeavored to create an easy and reliable solution to AED maintenance. The introduction of the DSF200 allowed suppliers to ensure their AEDs’ availability on-site with as little time possible.

Their newest AED Field testers, DFS200, provide a straightforward means to ensure all parts of an AED are functional, including the machine and the battery. This new model comes with various ECG patterns for AED defibrillation tests and an embedded battery voltage multimeter. Users can set different output thresholds to ensure the tested device will deliver the appropriate amount of energy for both adults and children during an emergency. Data retrieval and routine creation are two of the main features of DFS200. This field tester can hold a complete history of every measurement the user has made in the device, including AED test results, date and time, along with user notes.

This AED management platform allows users to use and store data on the cloud. This stored data helps identify any potential issues with minimal training. A user can access clear and simple analytics of tested AED with a complete history of testing records in a phone app. Results that need attention are marked so that anyone can easily spot abnormalities. This platform supports the company’s latest field tester DFS200 as well as any IoT-enabled AED. With IoT-enabled AEDs, it can provide daily analytics. All the information will be presented in a straightforward layout to manage customers and devices effortlessly. WhaleTeq designed these features to promote regular testing and maintenance needed to reduce AED failures.

More info: www.whaleteq.com 

About WhaleTeq Co. Ltd

Founded in September 2013, WhaleTeq provides first-class test solutions, including test equipment and associated services for medical devices. We strive to assist their clients in launching their top-quality medical device to the market in the most time and resources efficient way. Our specialty lies in physiologic monitoring systems testing, such as ECG, EEG, PPG, SpO2, respiration monitor testing. We are honored to have worked with renowned medical device providers such as GE, Philips, Siemens, Medtronic, as well as international laboratories such as UL, SGS, TUV and CSA.

Related Links :

http://www.whaleteq.com

PR Newswire

Gaotu Techedu Inc. Announces Effectiveness of Name Change

Leave a comment

BEIJING, June 4, 2021 — Gaotu Techedu Inc. ("Gaotu" or the "Company") (NYSE: GOTU), a leading online K-12 large-class after-school tutoring service provider in China, today announced that it has changed its name from "GSX Techedu Inc." to "Gaotu Techedu Inc.," effective June 4, 2021. The American depositary shares of the Company, every three representing two Class A ordinary shares, par value US$0.0001 per share, will begin trading under the new corporate name on June 7, 2021.

About Gaotu Techedu Inc.

Gaotu is a technology-driven education company and leading online K-12 large-class after-school tutoring service provider in China. The Company offers K-12 courses covering all primary and secondary grades through the brand Gaotu K12 as well as foreign language, professional and admission courses through the brand Gaotu Professional. Gaotu adopts an online live large-class format to deliver its courses, which the Company believes is the most effective and scalable model to disseminate scarce high-quality teaching resources to aspiring students in China. Big data analytics permeates each aspect of the Company’s business and facilitates the application of the latest technology to improve teaching delivery, student learning experience, and operational efficiency.

For further information, please contact:

Gaotu Techedu Inc.
Ms. Sandy Qin, CFA
E-mail: ir@gaotu.cn  

Christensen

In China
Ms. Vivian Wang
Phone: +852 2232 3978
E-mail: gotu@christensenir.com

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

Related Links :

http://ir.gaotu.cn

PR Newswire

VeChain, Together With DNV, Enables Renji Hospital To Launch The World’s First Blockchain-based IVF Service App – MyBaby

Leave a comment

SHANGHAI, June 4, 2021 — In partnership with VeChain and DNV, Renji Hospital, a top-ranking hospital in China affiliated with the Shanghai Jiaotong University School of Medicine has announced the launch of smart medical care project – MyBaby, the world’s first blockchain-based In-Vitro fertilization (IVF) Service Application.

MyBaby Launch Ceremony
MyBaby Launch Ceremony

The MyBaby Launch Ceremony was jointly hosted by the Center for Reproductive Medicine of Renji Hospital and the Shanghai Quality Control Center for Assisted Reproductive Technology. By combining the professional assurance services of DNV with VeChain’s advanced blockchain technology, MyBaby enables the verification of key steps of In-Vitro fertilization (IVF) and provides private, exclusive, end-to-end data access for prospective parents undergoing treatment. By embracing cutting edge technology, Renji Hospital commits itself to further enhancing equity and quality of life for patients.

A New Era in Fertility Treatment

MyBaby is the first service of its kind to combine the merits of third-party assured data verification with the immutability of blockchain technology. All information, imagery and data trails, from imagery produced by medical tools to the delivery of the zygote itself will be securely uploaded on VeChainThor blockchain and only accessible to authorized users of the MyBaby Application.

MyBaby allows users to view and track the extraction, labelling and scoring of fertilized eggs as well as the cultivation and preservation of embryos. The application also solves the traditional problems associated with the privacy of sensitive medical data. The cryptographically secured properties of blockchain technology create a secure and reliable environment and enhance the user experience in a way that is unprecedented in the IVF field.

Renji Hospital and VeChain at the Forefront of Healthcare Innovation

An agreement on further cooperation of the blockchain project was also signed between Renji Hospital and VeChain during the event. According to Sun Yun, Director of the Center for Reproductive Medicine of Renji Hospital, "The combination of assisted reproductive medicine and blockchain technology creates incredible chemistry, making Renji Hospital the first in its line to probe such innovation. We will be offering more trustworthy, private, secured services."

Not afraid to innovate, the Renji hospital has been at the forefront of progress in the medical-blockchain space. In 2019, Renji Hospital officially announced its joining of the Digital Carbon Ecosystem, initiated by DNV and VeChain. Later, it announced a joint partnership with VeChain and DNV to spearhead the world’s first blockchain-enabled Intelligent Tumor Treatment Center.

Sunny Lu, Co-founder and CEO of VeChain, commented, "We continue to see an increase in opportunities in our partnership with Renji Hospital, thanks to our unique approach of ‘blockchain + data quality assurance’ model alongside key strategic partner DNV. VeChain will continue delivering cost-effective and advanced blockchain technology to the medical world and build a trustless and multi-party digital future."

About Renji Hospital

Built in 1844, Renji Hospital has a history of over 170 years. It has been the first western medicine hospital since the opening of Shanghai. With an integration of medical treatment, teaching and scientific research, it is a comprehensive 3A hospital (the top level of hospital ranking in China) with a complete range of disciplines. Renji Hospital was also the first medical institution in Shanghai to carry out clinical and scientific research on assisted reproductive technology, and has become the Shanghai Quality Control Center for Assisted Reproductive Technology since 2018.

Website: https://www.renji.com/

About DNV

DNV is one of the world’s leading certification, assurance and risk management providers. Whether certifying a company’s management system or products, providing training, or assessing supply chains, and digital assets, we enable customers and stakeholders to make critical decisions with confidence. We are committed to support our customers to transition and realize their long-term strategic goals sustainably, collectively contributing to the UN SDGs.

About VeChain

Launched in 2015, VeChain connects blockchain technology to the real world by providing a comprehensive governance structure, a robust economic model, and IoT integration. VeChain is the pioneer of real-world applications using public blockchain technology, with international operations in Singapore, Luxembourg, Tokyo, Shanghai, Paris, Hong Kong, and San Francisco. Together with our strategic partners PwC and DNV, we have established cooperative relations with many leading enterprises in different industries, including Walmart China, BMW, BYD Auto, Haier, H&M, LVMH, D.I.G, ENN, Shanghai Gas, AWS, PICC, ASI etc.

Website: www.vechain.com

MyBaby App Interface
MyBaby App Interface

 

Renji - VeChain Signing Ceremony on further cooperation of the blockchain project
Renji – VeChain Signing Ceremony on further cooperation of the blockchain project

 

Photo – https://techent.tv/wp-content/uploads/2021/06/vechain-together-with-dnv-enables-renji-hospital-to-launch-the-worlds-first-blockchain-based-ivf-service-app-mybaby-3.jpg
Photo – https://techent.tv/wp-content/uploads/2021/06/vechain-together-with-dnv-enables-renji-hospital-to-launch-the-worlds-first-blockchain-based-ivf-service-app-mybaby-4.jpg
Photo – https://techent.tv/wp-content/uploads/2021/06/vechain-together-with-dnv-enables-renji-hospital-to-launch-the-worlds-first-blockchain-based-ivf-service-app-mybaby.jpg
Logo – https://techent.tv/wp-content/uploads/2021/06/vechain-together-with-dnv-enables-renji-hospital-to-launch-the-worlds-first-blockchain-based-ivf-service-app-mybaby-2.jpg

Related Links :

https://www.vechain.com/

PR Newswire

Goldpac Financial Security Chip Operating System Accelerating the Replacement by Domestic One

Leave a comment

HONG KONG, June 4, 2021 — As a reliable Fintech product and service providers, Goldpac Group Limited (stock code: 03315. HK) positively participates and joins hands with domestic mainstream chip manufacturers to continue to carry out the research of financial security chip operating system, for accelerating the financial IC card "localization" process of the whole industrial chain. In the past year, Goldpac has developed and launched a new generation of financial security chip operating system such as "CardArmour", which has not only obtained the endorsement of the state, but also obtained the authoritative qualification certification – embedded software security certification of UnionPay card chip. Since the use of the customer, it has been highly praised.

According to the "Notice on Several Policies on Promoting the High-quality Development of the Integrated Circuit Industry and the Software Industry in the New Era", China needs to improve the innovation capacity and development quality of its industries, accelerate the construction of its domestic science and technology industry, and promote the home-based substitution process. In the Fintech field, with the gradual realization of the localization and autonomization of financial IC card hardware chips and encryption algorithms, it is urgent to accelerate the domestic autonomy, security and control of the financial security chip operating system. As one of authentication enterprises certified by China UnionPay, Goldpac has focused on financial security software and products for nearly thirty years, and has developed a consensus on the importance of accelerating the UnionPay card core chip’s security updates and research and development work through independent controllability, committed to ensure the safety of national economic operation and the property.

Goldpac’s new generation of financial security chip operating system has some performance advantages such as large user space, fast running speed and so on, and also has the advantages of high security. While effectively avoiding the waste of resources, the operating system can be closely combined with domestic safety chips, and the safety protection ability of hardware can be deeply explored, so as to build a protective wall for hardware and software of the chip system, but also build a safe bridge for the effective connection between the application of domestic chip system and the industry ecology. It can be widely used in financial payment, mobile communication, electronic wallet, Internet of Things, transportation, industrial applications and other fields.

In the future, Goldpac will unswervingly promote the independent, innovative and controllable development strategy, actively carry out industrial cooperation with the upstream and downstream enterprises of the industrial chain, strengthen the integration construction of "production, learning and research", and further strengthen the research and development of fully independent and controllable financial IC card products based on domestic high security chips. We will continue to promote product innovation and technological innovation, promote the commercial use of a series of independent controllable products in multi-scene industrialization, and further explore the global market of domestic Fintech products.

About Goldpac Group Limited (Stock Code: 03315.Hk)

Goldpac established in 1993, was successfully listed on the Main Board of the Hong Kong Stock Exchange in 2013. As one of the earliest Fintech enterprises in China, with nearly 30 years’ of successful experience and a leading global technology portfolio, Goldpac is committed to its core vision of "Making Transactions More Secure and Convenient". Goldpac specializes in delivering embedded software, secure payment products and digital equipment for global customers in the field of intelligent secure payment, and providing data processing services, system platforms and other total solutions for customers in a wide business range including financial, government, healthcare, transportation and retails by leveraging innovative financial technology.

Website: www.goldpac.com 
E-mail: goldpac@goldpac.com

PR Newswire

Cheetah Mobile to Report First Quarter 2021 Financial Results on June 11th, 2021

Leave a comment

BEIJING, June 4, 2021 — Cheetah Mobile Inc. (NYSE: CMCM) ("Cheetah Mobile" or the "Company"), a leading internet company, today announced that it plans to release its first quarter 2021 financial results before the market opens on Friday, June 11th, 2021. The earnings release will be available on the Company’s investor relations website at http://ir.cmcm.com.

Cheetah Mobile’s management will hold a conference call on Friday June 11th, 2021 at 7:00 A.M. Eastern Time or 7:00 P.M. Beijing Time to discuss the financial results. Listeners may access the call by dialing the following numbers:

International:

+1-412-902-4272

United States Toll Free: 

+1-888-346-8982

Mainland China Toll Free:

4001-201-203

Hong Kong Toll Free: 

800-905-945

Conference ID: 

Cheetah Mobile

The replay will be accessible through June 18, 2021 by dialing the following numbers:

International:

+1-412-317-0088

United States Toll Free: 

+1-877-344-7529

Access Code: 

10157331

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

About Cheetah Mobile Inc.

Cheetah Mobile is a leading internet company. It has attracted hundreds of millions of monthly active users through an array of internet products such as Clean Master, Security Master and several casual games. The Company provides advertising services to advertisers worldwide as well as value-added services including the sale of premium membership and in-app virtual items to its users. Cheetah Mobile is also committed to leveraging its cutting-edge artificial intelligence technologies to power its products and make the world smarter. It has been listed on the New York Stock Exchange since May 2014.

Investor Relations Contact

Cheetah Mobile Inc.
Sheryl Zhang
Tel: +86 10 6292 7779 
Email: ir@cmcm.com

Computers, Gaming, News

[COMPUTEX 2021] ASUS Announces All AMD ROG Strix G15 & G17 Advantage Edition Laptops

Leave a comment

AMD announced a slew of items at their COMPUTEX 2021 keynote. One of the many things that they announced was the AMD Advantage Design framework. In this framework, AMD has outlined certain criteria which they believe will provide gamers with the best experience. One of the hallmark criteria is the utilisation of AMD’s Ryzen Mobile processors together with their newly announced Radeon RX6000M graphics processors. The new combination allows the new laptops to take advantage of smart access memory and smart shift among other optimisations that come with using a complete AMD setup.

ASUS is one of the first partners that are jumping on the AMD Advantage bandwagon with two new editions of its popular ROG Strix G line up. The new ROG Strix G15 and G17 come with AMD’s most powerful Ryzen 9 5900HX processor paired with the newly announced Radeon RX 6800M. The new GPU brings along with it AMD’s new RDNA 2 architecture which has been packing performance. It also brings AMD’s newly announced FidelityFX Super Resolution (FSR) which allows light to be simulated more realistically allowing for more immersive gaming.

The laptops come with up to 32GB of high performance DDR4-3200 RAM and up to 1TB NVMe SSD memory. The Strix G Advantage edition also comes with an additional M.2 slot that allows users to add more memory should the need arise. Their performance is matched with ASUS’s implementation of Liquid Metal thermal compound and the new Intelligent Cooling. The cooling system allows for better airflow without the increased noise.

Like other Strix G laptops, the ROG Strix G Advantage Edition laptops come display options for any gamer. Users can choose from options with 300Hz refresh rate, WQHD resolution with high colour accuracy. To complete the package, it comes with twin Smart Amp speakers that fire sound directly from behind the keyboard. These speakers are Dolby Atmos certified and can produce 5.1.2 channel surround sound.

Pricing & Availability

The ASUS ROG Strix G Advantage edition will be making its way to the market in the third quarter of 2021. No pricing has been announced just yet.

ASUS has no plans at this time to bring the ROG Strix G Advantage edition to Malaysia.