Yeahka Approved an Amount of US$100 Million Share Repurchase Plan

Demonstrating Long-term Confidence of Yeahka’s Business Prospects

HONG KONG, Aug. 27, 2023 /PRNewswire/ — The Board of Yeahka Limited (“Yeahka” or the “Company,” Stock Code: 9923.HK) is pleased to approve an additional amount of US$100 million for on-market share repurchase and RSU share purchase (the “Share Repurchase Plan“), illustrating strong confidence of the company’s business long-term prospects.

As disclosed in the Company’s results announcement dated August 24, 2023, the Company has achieved solid growth as its businesses benefited from the recovery in domestic consumption. In particular:

  • Total gross payment volume (GPV) of one-stop payment services reached RMB1,419.2 billion, increased 33.5% year-on-year;
  • Total gross merchandise value (GMV) of in-store e-commerce services exceeded RMB2.4 billion, increased 78.9% year-on-year;
  • Total revenue reached RMB2,062.2 million, increased 25.6% year-on-year. Revenue from one-stop payment services increased by 44.3% to RMB1,835.3 million;
  • Adjusted EBITDA reached RMB290.9 million, increased 317.4% year-on-year.

With a solid growth of all business lines, the Company maintains a strong cash flow and finance the Share Repurchase Plan, demonstrating the confidence in the company’s long-term value and commitment to creating value for shareholders.

About YEAHKA LIMITED (Stock Code: 9923.HK)
Yeahka is a leading payment-based technology platform dedicated to creating value for merchants and consumers. Our goal is to build an independent and scalable commercial digitalized ecosystem to enable seamless, convenient, and reliable payment services to merchants and consumers, and to further expand into serving merchants and consumers with our diversified product portfolio, which now includes (i) in-store e-commerce services, providing consumers with local lifestyle services of great value, and (ii) merchant solutions, enabling merchants to better manage and drive business growth.

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

OPPO Find N3 Flip to Debut on August 29, 2023, with the OPPO Watch 4 Pro

The upcoming wave of foldable devices from OPPO is starting to take shape, with clear glimpses into what’s to come. The Chinese smartphone manufacturer has begun teasing its Find N3 Flip and the Watch 4 Pro smartwatch on Weibo, setting a confirmed launch date for later this month on August 29.

The promotional content showcases the Find N3 Flip in a champagne-gold hue, giving us a sneak peek at its new circular triple-camera setup. This innovative departure from its predecessor, the N2 Flip, introduces a triple-camera arrangement, a first for flip-style foldables. The LED flash is positioned just below the Hasselblad-backed container.

OPPO Find N3 Flip Screnshot2

Adjacent to the camera array is the external cover screen. This display, expected to measure around 3 inches based on rumours, is oriented vertically on the cover panel – a design choice unique to the Find N3 Flip.

A teaser video featuring Actress and Model, Shu Qi, gives us a glimpse of the upcoming foldable and its UI.

Together with the OPPO Find N3 Flip, OPPO also shared images of the Watch 4 Pro. It looks like the company will be keeping the Watch 3’s design, however, it does appear like the Watch 4 Pro boasts a slightly curved glass layer and features a physical button and rotating crown on its right side.

The Watch 4 Pro’s specifications have been teased, including confirmation of the Snapdragon W5 Gen 1 chip – the same as its predecessor. The Watch 4 Pro is equipped with ECG, temperature, and SpO2 sensors that continue the line’s fitness and health focus. It’s also rumoured to come with over 85 apps and 2GB of RAM.

  • OPPO Watch 4 Pro Teaser 6
  • OPPO Watch 4 Pro Teaser 1
  • OPPO Watch 4 Pro Teaser 2
  • OPPO Watch 4 Pro Teaser 3
  • OPPO Watch 4 Pro Teaser 4
  • OPPO Watch 4 Pro Teaser 5

Rumours of the Find N3 Flip point to the foldable having a 6.8-inch internal display, akin to the OPPO Find N2 Flip. The circular triple-camera array is rumoured to comprise a 50MP primary camera, 8MP ultrawide, and a 32MP telephoto lens.

What sets the Find N3 Flip apart is the inclusion of the telephoto lens, a departure from competitors like Samsung’s Galaxy Z Flip 5 and the Motorola Razr Plus, which omit such a feature.

  • OPPO Find N3 Flip Pre order
  • translated image en 1
  • OPPO Watch 4 Pro Teaser 7
  • translated image en

It also looks like OPPO has already started pre-orders for the FInd N3 Flip on its Weibo page. Users in China are able to pre-order their device with a CNY1 deposit. The pre-order entitles customers to the Enco Air 3 Pro earbuds, a phone case, 2 years battery replacement, a 180-day 1 to 1 replacement, a trade-in value of up to CNY1,200 for your old device, and a CNY379 mystery gift.

OPPO Find N3 Flip Weibo Banner

In a nutshell, OPPO’s Find N3 Flip is looking to make waves with its advanced camera setup, while the Watch 4 Pro promises enhanced capabilities and performance. Stay tuned for more updates!

Unlocking the Latest Trends in Fashion Jewelry: Are You Up to Date?


YIWU, China, Aug. 25, 2023 /PRNewswire/ — Fashion jewelry, a time-tested Yiwu export, has once again delivered impressive results this summer.

Fashion jewelry
Fashion jewelry

Yiwugo.com, the official website of the Yiwu Commodity Market, is the largest commodity wholesale market in the world. Popular search terms such as “hair clips,” “necklaces,” “earrings,” and “bracelets” have consistently remained within the top 20 rankings for several months, according to Yiwugo’s data. From May 1, 2023 to August 23, 2023, transaction volumes for “bracelets” and “necklaces” have demonstrated remarkable growth compared to the same period in the previous year. The “bracelets” category has experienced an impressive surge of approximately 30.8 times, while “necklaces” have seen a growth of around 23.6 times. Additionally, the “earrings” category has witnessed a substantial increase of approximately 15 folds. Furthermore, orders for “hair clips” have surged by 49.2% in comparison to the same period last year, with the transaction volume nearly quadrupling from the previous year. Through visits to several well-established jewelry merchants boasting over two decades of experience, it becomes apparent that their achievements are a result of the combined efforts of the Yiwugo platform’s promotional strategies and the unwavering dedication of the merchants.

Top Selling for Three Months: Dreamcatcher Ornaments

Yuan Bangyun is no stranger to the phenomenon of soaring orders. With nearly two decades of experience in jewelry design, manufacturing, and sales, Manxiuni Jewelry has positioned itself as a trusted brand. Through the consistent introduction of novel and innovative products on a daily basis, Yuan Bangyun showcases a steadfast dedication to offering customers an ever-evolving array of choices.

During the peak sales season, Yuan Bangyun’s Enterprise store on Yiwugo unveils more than 100 new products every month, accompanied by an even wider selection of items accessible to customers through offline channels.

In May, Manxiuni Jewelry introduced the Dreamcatcher collection of fashion accessories, which garnered favorable feedback from domestic e-commerce customer groups. Notably, a specific pair of earrings has remained consistently in high demand, with daily orders for over 500 sets for the past three months. Yuan Bangyun commented that this is just a taste of a minor hit item.

The quality of exported jewelry hinges on an effective plating process. Yuan Bangyun noted that the current level of plating technology and its associated costs have increased approximately four times compared to previous years. The continuous refinement of craftmanship has fostered high customer loyalty among the company’s overseas clients.

For almost 8 consecutive years, a loyal customer from Russia has been ordering the same classic pair of earrings from Yuan Bangyun. The monthly order value has consistently stayed at around $10,000, with orders coming in regularly and payments being made promptly, even during times of conflict. This enduring partnership can be attributed to the continuous enhancement of the company’s product quality over the years.

Awakening Love for Beauty: Dominance of Dopamine Color Scheme and Barbie Pink

Wan Chengying’s venture, Yangqin Accessory Firm, specializes in hair clips, hairbands, and related products, with nearly 80% of its business concentrated in foreign trade. The company has launched over 300 new products this summer, with themed collections particularly designed for popular trends both in the domestic and international markets. These products have been distributed through innovative fast-moving consumer goods channels, encompassing e-commerce platforms and other emerging distributors. With dopamine-inspired color schemes and Barbie pink as the flagship, it captured and deeply resonated with women’s innate craving for beauty.

In early July this year, the company unveiled a collection of dopamine-colored hair clips, which generated over 200,000 RMB in domestic market orders within a month. Taking inspiration from the success of the movie “Barbie”, Wan Chengying also introduced a line of premium Barbie pink alloy products. The use of premium materials perfectly encapsulates the sophisticated allure of high-saturation pink. Currently, many customers from South Korea, as well as the domestic market, have shown tremendous interest in these products.

To Wan Chengying’s astonishment, this summer has witnessed a notable influx of new buyers who are specifically seeking purchases from Yiwugo. These intermediaries, who now handle daily order placements, have become larger in number. Despite of the buyers’ scales, they are highly active—a trend that was unseen in past years.

Allergy-Free Earrings: A Global Craze

Chen Xiyue, the owner of Jenny Jewelry, has a rather distinct experience. Quite a few overseas customers reached out to her via video calls through Yiwugo to confirm her store details before making online orders. An African customer from Botswana placed an initial order worth several thousand yuan through Yiwugo. This buyer has since placed two more repeat orders, each amounting to tens of thousands of yuan. Currently, they have fostered a strong partnership with a deepened sense of trust.

A diverse array of hypoallergenic earrings, crafted by Jenny Jewelry, caters to a broad age spectrum. Since their debut two years ago, these earrings have achieved impressive success, evolving from online popularity to offline demand. They have garnered significant acclaim and are sought-after by customers from both home and abroad. These earrings have successfully secured shelf space in supermarkets across various countries and regions, including South America and Dubai, where they maintain robust and consistent sales.

Infinix Debuts ZERO 30 SERIES at the Italian Pavilion in Venice, Europe’s Premier Film Forum to Pioneer UHD Vlogging

VENICE, Italy, Aug. 25, 2023 /PRNewswire/ — Infinix collaborates in organizing the panel session “New Image, New Lifestile | Cinema in the New Media, Capture Your Own Story” organized on September 1st at the Italian Pavilion in Venice, on the occasion of the Venice International Film Festival. The collaboration celebrates the increasing synergy between advances in smartphone technology and art of storytelling and filmmaking. Centered around the launch of the latest Infinix ZERO smartphone, the partnership is the first of its kind, uniting two brands dedicated to the creation of incredible stories that resonate across global boundaries.

Capture Your Own Story
Capture Your Own Story

Traditional Cinema Meets Next-Gen Vlogging

From classic cinema to social media posts, Infinix is proving that technology has the power to enable more engaging storytelling than ever before. By partnering with the Italian Pavilion FOR THE SESSION NEW IMAGE NEW LIFESTYLE | CINEMA IN THE NEW MEDIA TIME, CAPTURE YOUR OWN SORY on September 1st, one of the most respected institutions in global cinema, Infinix is pushing the boundaries of filmmaking to recognize the importance of storytelling through smartphone video, and the art of vlogging.

Young people today place greater emphasis on their personal lives and the ability to share experiences with others. This desire for self-expression is mirrored in the content that they create, and a new inclination to explore the art of storytelling and the creation of compelling narratives that are quickly becoming the cinema of today on new platforms including social media.

Infinix ZERO 30 SERIES Global Launch

The Infinix ZERO Series is an example of how Infinix empowers young people with first-in-class technology, creating powerful and attainably priced products that challenge convention, and break with tradition. The latest model in the Infinix ZERO smartphone series, takes front camera photography to new places, allowing users to be part of a new era of imaging and storytelling. 

During the Italian Pavilion Forum ” New Image, New Lifestile. Cinema in the New Media, Capture Your Own Story”, Infinix will unveil the latest edition to the Infinix ZERO smartphone series. In front of an audience of world leading tech, lifestyle and photography vloggers, Infinix CMO Lake Hu will outline the brand’s vision of smartphone development, introducing the ‘Story On’ concept.

The new Infinix ZERO series smartphone will then be unveiled on stage by Infinix India CEO, Anish Kapoor. Attendees will also be shown an exclusive documentary created by Infinix fans, demonstrating the incredible potential of smartphones for professional, cinematic-style filmmaking. 

‘Capture Our Own Story’ – Mobile Vlog Awards of Infinix

The ‘Capture Your Own Story’ Mobile Vlog Awards will also be launched on the occasion of the Venice International Film Festival. The contest encourages young creators worldwide to harness the advanced video capabilities of Infinix smartphones to capture life uniquely, crafting short film videos that reflect their individual perspectives. Infinix invites vloggers of all types, and backgrounds to contribute to the evolution of mobile imaging, creating a space for youthful creativity and inspiration to thrive.

Infinix Shines On the Occasion of the 80th Venice Film Festival

The partnership between Infinix and the Italian Pavilion Forum ” New Image, New Lifestile. Cinema in the New Media, Capture Your Own Story” sets a new precedent in collaborative branding, uniting to set in motion a transition to a world where we can all become masters of cinematic creativity and self-expression. 

Infinix’s pursuit of technological innovation puts disruptive, next-generation technology in the hands of young people everywhere. Venice is the perfect stage upon which new and innovative filmmaking and vlogging can be experienced, celebrated and better understood. Infinix aims to contribute to shaping the future of filmmaking, vlogging, and the development of upcoming directors and cinematographers.

About Infinix

Infinix Mobility is a rapidly emerging technology brand that designs, manufactures and markets an expanding portfolio of smart devices worldwide under the Infinix brand, which was founded in 2013. Targeting today’s youth with first in class technology, Infinix creates trendy, powerful and attainably priced smart devices that bring the latest technology on the market to users around the world at a time when they need it at a price that they want.

For more information, please visit: http://www.infinixmobility.com/

High quality, free from the fear of travel test – AIMA electric vehicles from China are loved by consumers

TIANJIN, China, Aug. 25, 2023 /PRNewswire/ — Recently, AIMA Technology, an electric two-wheeler brand from China, strengthened its global market layout. As the world’s largest electric two-wheeler production base, China’s exports of electric two-wheelers are favored by more and more consumers. As one of China’s electric two-wheeled vehicle head enterprises, AIMA electric vehicle has a good performance in different global markets such as China, North America, Europe and Southeast Asia.

The reason why AIMA electric vehicles can be loved by users around the world is inseparable from its excellent quality and excellent performance. In the electric two-wheeler industry for more than 20 years, Emma has always adhered to customer-oriented and quality first. At the production end, AIMA uses advanced intelligent technology to improve the production quality of each link. The product, from a little thing such as a screw to a whole vehicle, must go through the strict test and verification of the laboratory.

While striving for excellence and maintaining high quality, AIMA has empowered new electric vehicles such as Dollar, Mini Bear, Sweetie, Sweetie Plus through the core strength of the three-power system composed of core motor, electronic control and battery applications and innovative technology, which brings users a fast startup, sufficient power and long battery life experience.

Beginning with the needs of users, taking fashion as the base and science and technology as the principle, we continue to create a good quality vehicle with love for global users. AIMA electric vehicle is polishing the Chinese brand name card with the quality of excellence, so that more consumers fall in love with Chinese electric two-wheelers and enjoy the fun of free travel.

Focusing on High-performance Advanced Packaging and Global Layout, JCET Achieved Quarter-on-Quarter Growth in Q2 2023


Q2 2023 Financial Highlights:

  • Revenue was RMB 6.31 billion, an increase of 7.7% quarter-on-quarter.
  • Generated RMB 1.19 billion cash from operations. With net capex investments of RMB 0.75 billion, free cash flow for the quarter was RMB 0.44 billion.
  • Net profit was RMB 0.39 billion, an increase of 250.8% quarter-on-quarter.
  • Earnings per share was RMB 0.22, as compared to RMB 0.39 in Q2 2022.

1H 2023 Financial Highlights:

  • Revenue was RMB 12.17 billion.
  • Generated RMB 2.42 billion cash from operations. With net capex investments of RMB 1.56 billion, free cash flow for the first half of 2023 was RMB 0.86 billion.
  • Net profit was RMB 0.5 billion.
  • Earnings per share was RMB 0.28, as compared to RMB 0.87 in 1H 2022.

SHANGHAI, Aug. 25, 2023 /PRNewswire/ — Today, JCET Group (SSE: 600584), a leading global provider of integrated circuit (IC) back-end manufacturing and technology services, announced its financial results for the first half year of 2023. The financial report shows that in the first half of 2023, JCET achieved revenue of RMB 12.17 billion, and net profit of RMB 0.5 billion. In Q2 2023 JCET achieved revenue of RMB 6.31 billion, an increase of 7.7% quarter-on-quarter, and net profit of RMB 0.39 billion, an increase of 250.8% quarter-on-quarter.

In the first half of 2023, the global semiconductor industry was in the fluctuating stage of bottoming out and rebounding. JCET adhered to high-performance advanced packaging technologies and product development mechanism, focusing on solutions for emerging applications such as high performance computing and storage, enhanced strategic layout of production capacity, and further strengthened its market position in the global IC industry.

JCET continues to enhance its technological innovation, with R&D investment of RMB 0.67 billion in the first half of this year, a year-on-year increase of 5.0%. The company’s multi-dimensional fan-out heterogeneous integration solution XDFOI™ for 2.5D/3D packaging achieved HVM, providing high-performance chiplet package solutions and production capacity for global customers. In collaboration with multiple customers in the field of high-density SiP technology, JCET has achieved the development and mass production of multiple RFFE modules and AiP modules in the 5G millimeter-wave market. The company is intensifying its market exploration in sectors such as automotive electronics, industrial electronics, and high-performance computing. During the reporting period, revenue from automotive electronics achieved a year-on-year growth of 130%. The company has established a subsidiary with controlling stake in the Lingang New Area of Shanghai, reinforcing its strategic capacity layout in the field of automotive electronics.

In addition, the company has optimized various operational expenses and asset structures, maintaining a stable cash flow capability. It has achieved positive free cash flow for 15 consecutive quarters.

While pursuing its own development, JCET actively engages in philanthropic efforts, contributing to society in areas such as health and environmental protection, disaster relief during floods, and science popularization initiatives.

Mr. Li Zheng, CEO of JCET, said, “JCET has always centered its focus on customers, and achieved quarter-on-quarter growth in performance for the second quarter of this year. Looking ahead, the direction of high-performance advanced packaging technology driving the innovation of the IC industry has become increasingly clear. JCET remains committed to achieving high-quality development through professional and international management, and will continue to create value for investors and the IC industry.”

For more information, please refer to the JCET 1H FY2023 Report.

About JCET Group

JCET Group is the world’s leading integrated-circuit manufacturing and technology services provider, offering a full range of turnkey services that include semiconductor package integration design and characterization, R&D, wafer probe, wafer bumping, package assembly, final test and drop shipment to vendors around the world.

Our comprehensive portfolio covers a wide spectrum of semiconductor applications such as mobile, communication, compute, consumer, automotive and industry etc., through advanced wafer level packaging, 2.5D/3D, System-in-Packaging, and reliable flip chip and wire bonding technologies. JCET Group has two R&D centers in China and Korea, six manufacturing locations in China, Korea and Singapore, and sales centers around the world, providing close technology collaboration and efficient supply-chain manufacturing to customers in China and around the world.

CONSOLIDATED BALANCE SHEET (Unaudited)                                                                

RMB in millions

Jun 30, 2023

Dec 31, 2022

ASSETS

Current assets

  Currency funds

5,352

2,459

  Trading financial assets

2,006

4,316

  Derivative financial assets

0

18

  Accounts receivable

3,545

3,689

  Receivables financing

105

59

  Prepayments

127

110

  Other receivables

63

61

  Inventories

3,003

3,152

  Other current assets

251

279

Total current assets

14,452

14,143

Non-current assets

  Long-term receivables

41

40

  Long-term equity investments

744

765

  Other equity investments

456

440

  Investment properties

87

89

  Fixed assets

19,574

19,517

  Construction in progress

710

807

  Right-of-use assets

567

578

  Intangible assets

483

483

  Goodwill

2,293

2,210

  Long-term prepaid expenses

22

28

  Deferred tax assets

274

247

  Other non-current assets

106

61

Total non-current assets

25,357

25,265

Total assets

39,809

39,408

LIABILITIES AND EQUITY  

Jun 30, 2023

Dec 31, 2022

Current liabilities

  Short-term borrowings

1,211

1,174

  Derivative financial liabilities

2

0

  Notes payable

215

339

  Accounts payable

4,603

4,634

  Contract liabilities

273

214

  Employee benefits payable

689

984

  Taxes and surcharges payable

158

210

  Other payables

396

378

  Current portion of long-term liabilities

2,857

3,096

  Other current liabilities

4

4

Total current liabilities

10,408

11,033

Non-current liabilities

  Long-term borrowings

3,013

2,721

  Lease liabilities

549

562

  Long-term employee benefits payable

11

14

  Deferred income

362

340

  Deferred tax liabilities

14

40

  Other non-current liabilities

41

55

Total non-current liabilities

3,990

3,732

Total liabilities

14,398

14,765

Equity

  Paid-in capital

1,787

1,780

  Capital reserves

15,265

15,080

  Accumulated other comprehensive income

750

400

  Specialized reserves

2

0

  Surplus reserves

229

229

  Unappropriated profit

7,292

7,154

Total equity attributable to owners of the parent

25,325

24,643

Minority shareholders

86

0

Total equity

25,411

24,643

Total liabilities and equity

39,809

39,408

CONSOLIDATED INCOME STATEMENT (Unaudited)                                                                                                     

RMB in millions, except share data

Three months ended

Six months ended

Jun 30, 2023

Jun 30, 2022

Jun 30, 2023

Jun 30, 2022

Revenue

6,313

7,455

12,173

15,594

Less: Cost of sales

5,359

6,107

10,525

12,706

          Taxes and surcharges

27

27

47

43

          Selling expenses

51

48

100

97

          Administrative expenses

175

236

347

494

          Research and development expenses

360

315

669

638

          Finance expenses

(7)

(8)

51

15

            Including: Interest expenses

68

49

131

92

                     Interest income

27

9

35

16

Add: Other income

40

26

73

83

         Investment income / (loss)

(24)

28

(21)

40

            Including: Income / (loss) from investments in associates and joint ventures

(10)

(2)

(21)

(7)

         Gain / (loss) on changes in fair value of financial assets/liabilities 

37

(17)

46

(14)

         Credit impairment (loss is expressed by “-“)

(6)

2

(1)

(5)

         Asset impairment (loss is expressed by “-“)

(5)

(65)

0

(64)

         Gain / (loss) on disposal of assets 

13

9

16

23

Operating profit / (loss)

403

713

547

1,664

Add: Non-operating income

2

1

3

6

Less: Non-operating expenses

0

1

4

1

Profit / (loss) before income taxes

405

713

546

1,669

Less: Income tax expenses

19

31

50

126

Net profit / (loss) 

386

682

496

1,543

Classified by continuity of operations

  Profit / (loss) from continuing operations

386

682

496

1,543

Classified by ownership

  Net profit / (loss) attributable to owners of the parent

386

682

496

1,543

  Net profit / (loss) attributable to minority shareholders

0

0

0

0

Add: Unappropriated profit at beginning of period

7,264

5,196

7,154

4,335

Less: Cash dividends declared

358

356

358

356

Unappropriated profit at end of period (attributable to owners of the parent)

7,292

5,522

7,292

5,522

Other comprehensive income, net of tax

481

419

350

386

Comprehensive income attributable to owners of the parent

481

419

350

386

Comprehensive income not be reclassified to profit or loss

6

0

17

0

  Remeasurement gains or losses of a defined benefit plan

0

0

1

0

  Change in the fair value of other equity investments

6

0

16

0

Comprehensive income to be reclassified to profit or loss

475

419

333

386

  Comprehensive income using the equity method that may be reclassified to profit or loss

0

(7)

0

(7)

  Cash flow hedge reserve

0

(13)

0

(18)

  Exchange differences of foreign currency financial statements

475

439

333

411

Total comprehensive income

867

1,101

846

1,929

  Including:

     Total comprehensive income attributable to owners of the parent

867

1,101

846

1,929

     Total comprehensive income attributable to minority shareholders

0

0

0

0

Earnings per share

  Basic earnings per share

0.22

0.39

0.28

0.87

  Diluted earnings per share

0.22

0.39

0.28

0.87

CONSOLIDATED CASH FLOW STATEMENT (Unaudited)

RMB in millions

Three months ended

Six months ended

Jun 30, 2023

Jun 30, 2022

Jun 30, 2023

Jun 30, 2022

CASH FLOWS FROM OPERATING ACTIVITIES

  Cash receipts from the sale of goods and the rendering of services

6,178

8,184

13,162

16,999

  Receipts of taxes and surcharges refunds

122

32

216

147

  Other cash receipts relating to operating activities

110

62

163

132

Total cash inflows from operating activities

6,410

8,278

13,541

17,278

  Cash payments for goods and services

4,069

5,766

8,454

11,612

  Cash payments to and on behalf of employees

878

1,060

2,072

2,309

  Payments of all types of taxes and surcharges

254

314

466

501

  Other cash payments relating to operating activities

22

93

128

171

Total cash outflows from operating activities

5,223

7,233

11,120

14,593

Net cash flows from operating activities

1,187

1,045

2,421

2,685

CASH FLOWS FROM INVESTING ACTIVITIES

  Cash receipts from returns of investments

4,350

4,160

8,280

5,160

  Cash receipts from investment income

38

32

52

38

  Net cash receipts from disposal of fixed assets, intangible assets and other long-term assets

7

8

32

34

  Net cash receipts from disposal of subsidiaries and other business units

0

(1)

0

27

Total cash inflows from investing activities

4,395

4,199

8,364

5,259

  Cash payments to acquire fixed assets, intangible assets and other long-term assets

749

651

1,588

1,550

  Cash payments for investments

3,200

4,310

5,980

5,960

Total cash outflows from investing activities

3,949

4,961

7,568

7,510

Net cash flows from investing activities

446

(762)

796

(2,251)

CASH FLOWS FROM FINANCING ACTIVITIES

  Cash proceeds from investments by others

230

0

230

0

      Including: Cash receipts from capital contributions from minority shareholders of subsidiaries

86

0

86

0

  Cash receipts from borrowings

1,317

985

1,664

1,515

Total cash inflows from financing activities

1,547

985

1,894

1,515

  Cash repayments for debts

755

988

1,740

1,734

  Cash payments for distribution of dividends or profit and interest expenses

414

49

467

90

  Other cash payments relating to financing activities

16

446

48

589

Total cash outflows from financing activities

1,185

1,483

2,255

2,413

Net cash flows from financing activities

362

(498)

(361)

(898)

EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS

45

59

37

57

NET INCREASE IN CASH AND CASH EQUIVALENTS

2,040

(156)

2,893

(407)

Add: Cash and cash equivalents at beginning of period

3,306

2,512

2,453

2,763

CASH AND CASH EQUIVALENTS AT END OF PERIOD

5,346

2,356

5,346

2,356

Antelope Enterprise Pre-Announces 1H 2023 Revenue of $42.8 Million, a Projected 168% Year-Over-Year Increase

AEHL On Track to Surpass Full-Year Revenue Guidance & Achieve Profitability

CHENGDU, China, Aug. 25, 2023 /PRNewswire/ — Antelope Enterprise Holdings Limited (NASDAQ Capital Market: AEHL) (“Antelope Enterprise”, “AEHL” or the “Company”), the operator of KylinCloud, a premier livestreaming e-commerce platform that leverages a network of over 400,000 hosts and influencers across China, today pre-announced its revenue for the first six months of its fiscal year ended June 30, 2023. The Company estimates that it will achieve approximately $42.0 million in revenue for the first half of 2023; this represents growth of 167.5% compared to $15.7 million in revenue that it recorded for the same period of 2022.

Antelope Enterprise’s projected first half revenue represents 65.6% of the Company’s full-year guidance of $64 million issued on May 25, 2023. Given the Company’s expected strong performance in the first half of the year, Antelope Enterprise believes that it will exceed its full year revenue guidance.

In addition, Antelope Enterprise affirms its forecast to achieve profitability for the full fiscal year 2023. The Company’s believes that its strong financial growth highlights the power of its innovative business model that optimizes the use of social media and livestreaming to uniquely engage China’s vast online consumer marketplace.

Antelope Enterprise CEO Will Zhang commented, “Our first half 2023 financial results clearly validates the strength of our business model and the value that we provide to both our consumer brand partners and influencers. The projected 168% revenue growth over the first half of fiscal 2022 serves as a powerful indicator of the effectiveness of our livestreaming ecommerce platform, KylinCloud, in this rapidly growing market.”

CEO Will Zhang continued, “We not only facilitate meaningful connections between consumer brands and influencers, but also enhance profitability for our partners and provide immense value to our consumers. Given our expected impressive performance in the first half of the year, we are confident that we will not only meet but exceed our annual revenue guidance while achieving profitability for the full year 2023.”

About Antelope Enterprise Holdings Limited

Antelope Enterprise Holdings Limited holds a 51% ownership position in Hainan Kylin Cloud Services Technology Co., Ltd (“KylinCloud”), which operates a livestreaming ecommerce platform in China with access 400,000+ hosts and influencers.

For more information, please visit our website at http://www.aehl-kylin.com/, or follow the Company on Twitter at https://twitter.com/aehl_ltd. To receive the Company’s public announcements, please email [email protected].

Safe Harbor Statement

Certain of the statements made in this press release are “forward-looking statements” within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this press release include, without limitation, the continued stable macroeconomic environment in the PRC, the PRC technology sectors continuing to exhibit sound long-term fundamentals, and our ability to continue to grow our business management, information system consulting, and livestreaming ecommerce business. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as “may,” “will,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “point to,” “project,” “could,” “intend,” “target” and other similar words and expressions of the future.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2022 and otherwise in our SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC’s Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.

Source: Antelope Enterprise Holdings Ltd.

Meta’s Threads is Now Accessible on Web Browsers

It seems like the initial rumblings of Threads making its way to web browsers were true. Meta’s Twitter (now known as X) competitor is no longer restricted to mobile devices. You’ll be able to login to Threads via threads.net.

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The new Threads homepage now sports a login page with a QR code which leads to the relevant app stores for the mobile app. Of course, it goes without saying that you will be logging in with your Instagram account details. You’re given the option to sign in with your email, username or phone number and your password. If you encounter a message instructing you to “set up your profile using the Threads app” while using your email, there’s no need for concern. If you’ve already completed this step, one of the alternative methods may serve as a suitable solution.

Threads’s web interface is pretty straightforward and minimal. The centre of the screen is emblazoned with your feed. At the bottom left, you have a toggle to switch between your “Following” and “For You” feeds. Of course, if you’ve been following the developments at Threads, you’ll know that the latter has content recommended by the algorithm included in the feed while the “Following” feed only contains content exclusively from accounts you follow.

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Platform navigation is parked at the top. You’ll see quick navigation buttons for home, search, new post, notifications and your profile. Other options like logging out and reporting problems are in a dropdown menu on the top right. You also have the option to create a new post by simply starting to type in the space beside your profile image.

The new web version of threads will no doubt be a welcomed development for those managing multiple accounts. However, the one feature not yet available on the web version is the ability to switch between accounts. Knowing the team behind Threads, it’s probably already being worked on.

It feels like Threads is gearing up to do big things – but there’s one caveat to that – that activity on the platform continues to pick up. Meta’s answer to Twitter’s slow demise was initially all the rage with rapid adoption and increasing interactions on the platform, however, the platform hasn’t managed to stay top of mind. Time will only tell if Meta’s Threads will be able to stick its landing and expand its reach.

Samsung’s Upping Its Gaming Offerings with a New Odyssey Neo G9 Monitor & Starfield on the Samsung Gaming Hub

Hold onto your seats, gamers – Samsung has just dropped two new gaming monitors: the Odyssey Neo G9 57″ and Odyssey Ark 55″. Freshly unveiled at Gamescom 2023, these monitors are upping the ante for Samsung’s gaming offerings and also making things wider than ever before.

Odyssey Neo G9 57-inch: Immersion Takes Centerstage

The Odyssey Neo G9 57-inch (G95NC) boasts the world’s first Dual Ultra-High-Definition (DUHD) screen. It offers an immersive 1000R curvature that envelops users in the game or content with an expansive field of view. This monitor features Samsung’s Quantum Matrix Technology that utilises the company’s award-winning Quantum Mini LED lighting, delivering deeper blacks and brighter whites while minimising the usual blooming effect.

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The Samsung Odyssey Neo G9 comes with The VESA DisplayHDR™1000 certification. This promises vivid clarity for HDR-enabled content with details even in the darkest shades for your competitive edge and viewing pleasure. It also indicates that HDR content is displayed vividly and authentically, with accurate colours and contrast. The monitor’s impressive 240Hz refresh rate and 1ms grey-to-grey (GtG) response time minimizes blurring, enabling seamless gameplay. It comes complete with AMD FreeSync™ Premium Pro technology which allows high-resolution gaming without graphical tearing and smooth transitions as well as lag-free gaming.

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(Source: Samsung) Full Specs of the Odyssey Neo G9

Connectivity options are robust, featuring VESA-certified DisplayPort (DP) 2.1, HDMI 2.1, and a USB hub. This streamlined setup caters to both gaming and multimedia needs.

Odyssey Ark 55-inch: Elevating Visual Engagement

The Odyssey Ark 55″ builds on its predecessor’s success as the world’s first 1000R curved gaming screen. With a 165Hz refresh rate and 1ms GtG response time, this monitor promises fluid visuals and minimal latency. The addition of Cockpit Mode introduces a fresh perspective with the Ark’s signature vertical orientation.

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Samsung’s MultiView brings the ability to view streams from the three HDMI inputs and DisplayPort 1.4 at the same time; maximising the large 55-inch display of the Ark. This new enhancement improves split-screen capabilities, providing an organized setup for focused gameplay and advanced productivity.

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(Source: Samsung) Full Specs of the Odyssey Ark

One screen to rule them all that is what the new Keyboard, Video, and Mouse (KVM) switch feature is built for. It turns the Odyssey Ark 55-inch into your command center, making it your central interface for multiple connected devices. It enhances multitasking across various devices, simplifying control with a single mouse and keyboard setup.

Gaming Beyond the Monitor: “Starfield” on Samsung Gaming Hub

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It’s not all about the monitors for Samsung at Gamescom either. Bethesda Game Studios’ much-anticipated game, “Starfield,” will be accessible through the Samsung Gaming Hub with an Xbox Game Pass subscription starting September 6. This collaboration offers a new way to access and stream cloud games on supported 2023 TVs and monitors, including the Samsung Neo QLED 8K.

Dowsure Signs multi-million-dollar Asset-Backed Loan with HSBC

SHENZHEN, China, Aug. 25, 2023 /PRNewswire/ — Dowsure as a pioneer of digital API platforms for cross-border e-commerce, today announced that it has received a multi-million-dollar Asset-Backed Loan from HSBC. The transaction follows the strategic investment made by HSBC Ventures in July 2023.

HSBC acted as the sole Arranger, Original Lender, Facility Agent, Security Agent & Account Bank for Dowsure’s debut revolving asset-backed loan facility (“ABL”). The facility was provided to Hong Kong Credit Services Limited (“HKCSL”), a wholly owned subsidiary of Dowsure in Hong Kong. This is the inaugural ABL facility in the cross-border e-commerce sector under HSBC’s New Economy Fund and will support Dowsure’s offshore business growth aspirations.

HSBC customised an asset-backed structure for Dowsure, backed by loan receivables originated by HKCSL to cross-border sellers on the designated e-commerce platform. The facility is fully committed at closing, but also allows for flexible drawdowns to align with the company’s portfolio growth strategy, as well as maximising the cash utilisation efficiency.

Byron Pei, Founder and CEO of Dowsure Technologies, said, “The innovatively structured ABL from HSBC will enable Dowsure to provide support for more SMEs engaged in cross-border e-commerce exports. This will be beneficial to participants in the cross-border e-commerce industry, regardless of sellers, service providers, or cross-border e-commerce platforms, who will benefit from the development capital provided under this program. Through the abundant funds provided by large international banks, combined with Dowsure’s insights and innovation capabilities, it will help the industry to achieve faster and better development. This collaboration further enhances and reinforces the partnership between HSBC and Dowsure. Meanwhile, it means a new breakthrough in Dowsure’s financing model, and we appreciate HSBC’s support sincerely.”

Thomas Elliott, Managing Director, Head of Client Coverage, Commercial Banking, Hong Kong, HSBC, said, “HSBC has helped Dowsure raise debt financing through a bespoke, structured solution, focusing on high-quality financial assets originated by HKCSL, to provide flexibility and enable the high-speed development of Dowsure’s business offshore. Alongside a strategic investment recently concluded by HSBC Ventures, the ABL facility provides Dowsure with additional capital to grow its loan portfolio and further its support for e-commerce merchants across Greater China.”

Dowsure, as the leading global API platform for cross-border e-commerce, has cooperated with banks to launch digital financial products through advanced models and algorithms to provide cross-border e-commerce sellers with faster, more convenient, and safer funding solutions. Over the years of delving into the cross-border industry, Dowsure has accumulated multi-dimensional capabilities in cross-border scenarios, system fulfillment, and risk control technology. Dowsure has invested millions of funds in supply chain finance platform research and development. Currently, it has reached cooperation with Amazon, eBay, Meta, Shopee and other platforms.

Dowsure has realized the whole path tracking of sellers’ capital chain with its exclusive technology, effectively reduced the default rate, and has helped many banks and financial institutions to expand new business scenarios. Dowsure has provided new lending business scenarios for more than ten banks and other financial institutions, successfully served more than 20,000 cross-border sellers, helped sellers finance more than RMB 3 billion, and boosted sellers’ sales to more than 45 billion.

About Dowsure Technologies

Dowsure Technologies, as a leading global digital API platform for cross-border e-commerce, was established in 2016. Through API technology and advanced models and algorithms, it collaborates with banks to launch digital financial products, providing faster, more convenient, and secure funding solutions for cross-border e-commerce sellers. With years of experience in the cross-border industry, Dowsure has accumulated multidimensional capabilities in understanding cross-border scenarios, system implementation, and product innovation. Dowsure has established partnerships with platforms such as Amazon, eBay, Meta, and Shopee and has helped banks and financial institutions expand into new business scenarios. Currently, Dowsure has provided new loan business scenarios for over ten banks and financial institutions, serving over 20,000 cross-border e-commerce sellers, helping sellers receive financing exceeding 3.5 billion RMB, and achieving sales exceeding 45 billion RMB.

Source: Dowsure Technology Ltd.