Category Archives: PR Newswire

PR Newswire

WiMi Announced Multi-Level Feature Fusion Algorithm Based on Convolutional Neural Networks

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BEIJING, Nov. 21, 2023 /PRNewswire/ — WiMi Hologram Cloud Inc. (NASDAQ: WIMI) (“WiMi” or the “Company”), a leading global Hologram Augmented Reality (“AR”) Technology provider, today announced that its multi-level feature fusion algorithm based on convolutional neural networks (CNN) can better capture the global and local information of an image and improve the performance of the model by fusing features from different levels.

Feature fusion algorithms have been widely used in computer vision, natural language processing and other fields. By fusing features of different levels or modalities, the expressive ability and performance of the model are improved to better solve complex tasks. The multilevel feature fusion algorithm studied by WiMi adopts a deep network structure, and gradually extracts the high-level features of the image through multiple convolutional and pooling operations, to better express the semantic information of the image. In addition, by fusing features at different levels, the model can focus on both global and local information about the image, thus improving the performance of the model. The multi-level feature fusion algorithm, as an improved CNN model, has important applications in the field of image processing. CNN is a deep-learning algorithm widely used in the field of computer vision. It extracts the features of an image through multilevel convolutional and pooling layers and performs classification and recognition through fully connected layers, which has the advantages of automatic learning of feature representation, parameter sharing and local perceptibility.

CNN-based multi-level feature fusion algorithms can improve the performance and generalization of the model by fusing features from different layers. A multi-layered CNN model is used which contains multiple convolutional and pooling layers and a fully connected layer for classification tasks. By fusing the features of different layers, the information of different layers can be effectively captured and the features of different layers of the image can be effectively extracted for better classification, thus improving the accuracy of the model. The application of the algorithm mainly includes the following key modules:

Feature extraction: First, the input image is feature extracted by CNN. Different levels of convolutional layers can extract features with different levels of abstraction of the image.

Feature fusion: The features at different levels are fused. Different fusion methods can be used such as weighted fusion, cascade fusion or parallel fusion. Weighted fusion can get the weight of each feature layer by learning, cascade fusion can connect features of different levels in series, and parallel fusion can process features of different levels in parallel.

Feature mapping: The fused features are mapped to further extract more discriminative features. This can be achieved using fully connected layers, pooling layers, or other nonlinear mapping functions.

Feature selection: Select the most discriminative features for further processing according to the needs of the specific task.

The multi-level feature fusion algorithm based on CNN improves the performance and generalization ability of the model by effectively extracting the multi-level features of the image and fusing them, and it has important research significance and application prospects. This algorithm has a wide range of applications in tasks such as image classification, target detection and image generation.

The current multi-level feature fusion algorithm mainly focuses on the fusion of shallow and mid-level features, and in the future, WiMi will further explore deeper feature fusion, such as the fusion of higher-level features, to improve the algorithm’s performance and expressive ability. The attention mechanism is introduced into the multilevel feature fusion algorithm to improve the network’s ability to perceive and utilize key features. In addition to CNN, other models can be considered to combine with multilevel feature fusion algorithms, such as recurrent neural networks (RNN) or graph convolutional networks (GCN), to further improve the performance and applicability of the algorithms. The performance of the multi-level feature fusion algorithm can be improved by improving the network structure, such as introducing residual connections and increasing the width and depth of the network.

The multi-level feature fusion algorithm based on CNN has been widely used in the field of computer vision, and in the future, WiMi will continue to expand to other fields, such as natural language processing, speech recognition, etc., to explore the potential and applications of multi-level feature fusion algorithms in other tasks.

About WIMI Hologram Cloud

WIMI Hologram Cloud, Inc. (NASDAQ:WIMI) is a holographic cloud comprehensive technical solution provider that focuses on professional areas including holographic AR automotive HUD software, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductor, holographic cloud software, holographic car navigation and others. Its services and holographic AR technologies include holographic AR automotive application, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR advertising technology, holographic AR entertainment technology, holographic ARSDK payment, interactive holographic communication and other holographic AR technologies.

Safe Harbor Statements

This press release contains “forward-looking statements” within the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Among other things, the business outlook and quotations from management in this press release and the Company’s strategic and operational plans contain forward−looking statements. The Company may also make written or oral forward−looking statements in its periodic reports to the US Securities and Exchange Commission (“SEC”) on Forms 20−F and 6−K, in its annual report to shareholders, in press releases, and other written materials, and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. Several factors could cause actual results to differ materially from those contained in any forward−looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition, and results of operations; the expected growth of the AR holographic industry; and the Company’s expectations regarding demand for and market acceptance of its products and services.

Further information regarding these and other risks is included in the Company’s annual report on Form 20-F and the current report on Form 6-K and other documents filed with the SEC. All information provided in this press release is as of the date of this press release. The Company does not undertake any obligation to update any forward-looking statement except as required under applicable laws.

Source: WiMi Hologram Cloud Inc.

PR Newswire

MINISO Group Announces September Quarter 2023 Unaudited Financial Results

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GUANGZHOU, China, Nov. 21, 2023 /PRNewswire/ — MINISO Group Holding Limited (NYSE: MNSO; HKEX: 9896) (“MINISO”, “MINISO Group” or the “Company”), a global value retailer offering a variety of trendy lifestyle products featuring IP design, today announced its unaudited financial results for September quarter 2023.

Financial Highlights for the First Quarter of Fiscal Year 2024 ended September 30, 2023

  • Revenue was RMB3,791.2 million (US$519.6 million), representing an increase of 36.7% year over year and 16.6% quarter over quarter.
  • Gross profit was RMB1,583.7 million (US$217.1 million), representing an increase of 60.2% year over year and 22.2% quarter over quarter.
  • Gross margin was 41.8%, compared to 35.7% in the same period of 2022 and 39.8% in the previous quarter.
  • Operating profit was RMB788.3 million (US$108.0 million), representing an increase of 54.7% year over year and 14.2% quarter over quarter.
  • Profit for the period was RMB618.3 million (US$84.7 million), representing an increase of 53.0% year over year and 13.0% quarter over quarter.
  • Adjusted net profit(1) was RMB642.0 million (US$88.0 million), representing an increase of 53.8% year over year and 12.4% quarter over quarter.
  • Adjusted net margin(1) was 16.9%, compared to 15.1% in the same period of 2022 and 17.6% in the previous quarter.
  • Adjusted EBITDA(1) was RMB1,014.3 million (US$139.0 million), representing an increase of 52.8% year over year and 18.6% quarter over quarter.
  • Adjusted EBITDA margin(1) was 26.8%, compared to 23.9% in the same period of 2022 and 26.3% in the previous quarter.

Operational Highlights for the First Quarter of Fiscal Year 2024 ended September 30, 2023

  • Number of MINISO stores surpassed 6,000 for the first time and reached 6,115 as of September 30, 2023, increasing by 819 stores year over year and 324 stores quarter over quarter, respectively.
  • Number of MINISO stores in China was 3,802 as of September 30, 2023, increasing by 533 stores year over year and 198 stores quarter over quarter, respectively.
  • Number of MINISO stores in overseas markets was 2,313 as of September 30, 2023, increasing by 286 stores year over year and 126 stores quarter over quarter, respectively.
  • Number of TOP TOY stores was 122 as of September 30, 2023, increasing by 13 stores year over year and 4 stores quarter over quarter, respectively.

Note:

(1)     See the sections titled “Non-IFRS Financial Measures” and “Reconciliation of Non-IFRS Financial Measures” in this press release for more information.

The following table provides a breakdown of the number of MINISO and TOP TOY stores as well as their year-over-year and quarter-over-quarter changes as of the relevant dates:

As of

 September 30, 2022

 June 30, 2023

 September 30, 2023

YoY

QoQ

Number of MINISO stores(1)

5,296

5,791

6,115

819

324

China

3,269

3,604

3,802

533

198

—Directly operated stores

19

15

20

1

5

—Third-party stores

3,250

3,589

3,782

532

193

Overseas

2,027

2,187

2,313

286

126

—Directly operated stores

131

176

202

71

26

—Third-party stores

1,896

2,011

2,111

215

100

Number of TOP TOY stores(2)

109

118

122

13

4

—Directly operated stores

8

9

9

1

–

—Third-party stores

101

109

113

12

4

Notes:

(1) “MINISO stores” refers to the offline stores operated under the “MINISO” brand, including those directly operated by the Company, and those operated by third parties under the MINISO Retail Partner model and the distributor model.

(2) “TOP TOY stores” refers to the offline stores operated under the “TOP TOY” brand, including those directly operated by the Company, and those operated by third parties under the MINISO Retail Partner model.

For more information about MINISO stores, please refer to “Unaudited Additional Information” in this press release.

Mr. Guofu Ye, Founder, Chairman, and Chief Executive Officer of MINISO, commented, “We delivered another strong quarter, demonstrating resilience of our business model and huge potential of our globalization strategy. Core MINISO business including both MINISO offline China and overseas, increased by more than 40% year over year, supported by mid-twenties growth in GMV per MINISO store both in China and overseas. With a more normalized offline travel in this year, we are able to dedicate more resources into our overseas directly operated markets, the revenue of which has increased by more than 80% for two consecutive quarters. In addition, we are encouraged by our developments in our emerging markets such as the North America market, revenue of which increased by nearly 160% in this quarter year over year. Entering Holiday Season, we see this high-growth trend continues in our directly operated markets as we see more value-seeking behavior by overseas consumers and more favorable product mix from us.”

“In many ways, this September quarter was our best quarter so far, with historical highs in revenue, net profit and net store opening. It also marked an important milestone for MINISO as our global store network surpassed 6,000 for the first time. As of September 30, we had opened 477 new MINISO stores in China, accomplishing our full-year plan of 350-450 stores a quarter ahead of schedule. We currently expect to add another 100-200 new stores on a net basis in China in the remaining calendar year of 2023, and we will strive to deliver our target of opening 350 to 450 stores in overseas markets. Going forward, we will continue to focus on our long-term strategic goals of delivering on our globalization strategy, bolstering the strength of our product offerings and continuously optimizing our store network.”

Mr. Eason Zhang, Chief Financial Officer and Vice President of MINISO, commented, “Gross margin for this September quarter reached 41.8%, increasing by more than 6 percentage points from 35.7% in the same quarter last year, setting another historical high, thanks to our solid execution of MINISO’s brand upgrade strategy and more favorable revenue mix, with directly operated market contributed 46% of overseas revenue. In longer term, we are confident to increase gross margin steadily by leveraging our core capabilities in product development, supply chain integration and glocalization.”

“Adjusted net profit increased by 54% year over year to RMB642 million, and adjusted net margin reached 16.9% in this quarter. Excluding foreign exchange impacts, adjusted net margin in this quarter would be 17.1%, compared to 13.2% during the same quarter of 2022, and 15.5% in the previous quarter. Looking forward into the December quarter, we expect our sales to continue to grow strongly on a year-over-year basis, driven by better store-level performance and store network expansion. Meanwhile, our margin profile will continue to optimize on a year-over-year basis.”

Recent Developments

Operational Update

According to the Company’s preliminary estimates, its major operations achieved the following updates:

October 2023: GMV of MINISO’s offline stores in China increased by over 40% year over year, driven primarily by around 11% increase of average GMV per MINISO store. GMV of MINISO’s overseas business increased by around 30% year over year.

Unaudited Financial Results for the First Quarter of Fiscal Year 2024 ended September 30, 2023

Revenue was RMB3,791.2 million (US$519.6 million), representing an increase of 36.7% year over year, primarily driven by a 34.7% year-over-year increase in revenue from China, and a 40.8% year-over-year increase in revenue from overseas markets.

Revenue from China was RMB2,495.8 million (US$342.1 million), 34.7% higher than RMB1,852.3 million in the same period of 2022. The year-over-year increase was primarily driven by (i) an increase of 41.2% in revenue from MINISO’s offline stores in China, which was the result of a 14.0% year-over-year growth in average store count and a 23.8% year-over-year growth in average revenue per MINISO store in China, and (ii) an increase of 46.1% in revenue from TOP TOY, which was the result of a 16.5% year-over-year growth in average store count and a 25.4% year-over-year growth in average revenue per TOP TOY store.

Revenue from overseas markets was RMB1,295.4 million (US$177.5 million), representing an increase of 40.8% year over year. The year-over-year increase was primarily due to a year-over-year increase of 12.5% in average store count and a year-over-year growth of 25.1% in average revenue per MINISO store in overseas markets. Revenue from overseas markets contributed 34.2% of our total revenue in the September quarter of 2023, compared to 33.2% in the same period of 2022 and 34.3% in the previous quarter of 2023.

For more information on the composition and year-over-year change of revenue, please refer to the “Unaudited Additional Information” in this press release.

Cost of sales was RMB2,207.5 million (US$302.6 million), representing an increase of 23.7% year over year.

Gross profit was RMB1,583.7 million (US$217.1 million), representing an increase of 60.2% year over year.

Gross margin was 41.8%, compared to 35.7% in the same period of 2022. The year-over-year increase was primarily attributable to (i) higher gross margin in overseas markets contributed by product optimization and higher revenue contribution from directly operated markets which accounted for 45.7% of revenue from overseas markets, compared to 34.1% in the same period of 2022, (ii) higher gross margin in China contributed by newly launched products in relation to our execution of strategic brand upgrade of MINISO, and the cost-saving measures the Company adopted to reduce the costs of certain products, and (iii) higher gross margin of TOP TOY  due to a shift in product mix towards more profitable products.

Other income was RMB13.4 million (US$1.8 million), compared to RMB6.4 million in the same period of 2022.

Selling and distribution expenses were RMB640.9 million (US$87.8 million), representing an increase of 68.1% year over year. Excluding share-based compensation expenses, selling and distribution expenses were RMB620.8 million (US$85.1 million), representing an increase of 66.6% year over year. The year-over-year increase was mainly attributable to (i) increased personnel-related expenses in relation to the growth of our business, (ii) increased promotion and advertising expenses, mainly in connection with our execution of strategic brand upgrade of MINISO in China, and (iii) increased licensing expenses in relation to our growing IP library and enriched offerings of IP products.

General and administrative expenses were RMB170.6 million (US$23.4 million), representing an increase of 1.7% year over year. Excluding share-based compensation expenses, general and administrative expenses were RMB166.9 million (US$22.9 million), representing an increase of 2.3% year over year. As a percentage of revenue, general and administrative expenses (excluding share-based compensation expenses) for this quarter accounted for 4.4%, decreased from 5.9% in the same period of 2022 thanks to operating leverage.

Other net income was RMB1.0 million (US$0.1 million), compared to RMB64.0 million in the same period of 2022. Other net income mainly consists of investment income from wealth management products, net foreign exchange gain/loss and others. The year-over-year change was mainly attributable to a net foreign exchange loss of RMB7.1 million in this quarter, compared to a net foreign exchange gain of RMB52.3 million in the same period of 2022.

Operating profit was RMB788.3 million (US$108.0 million), representing an increase of 54.7% year over year.

Net finance income was RMB57.9 million (US$7.9 million), representing an increase of 130.9% year over year, mainly due to an increase in interest income of bank deposits.

Profit for the period was RMB618.3 million (US$84.7 million), representing an increase of 53.0% year over year.

Adjusted net profit, which represents profit for the period excluding equity-settled share-based payment expenses, was RMB642.0 million (US$88.0 million), representing an increase of 53.8% year over year.

Adjusted net margin was 16.9%, compared to 15.1% in the same period of 2022.

Adjusted EBITDA was RMB1,014.3 million (US$139.0 million), representing an increase of 52.8% year over year.

Adjusted EBITDA margin was 26.8%, compared to 23.9% in the same period of 2022.

Basic and diluted earnings per ADS were both RMB1.96 (US$0.27) in this quarter, representing an increase of 48.5% year over year from RMB1.32 in the same period of 2022. Each ADS represents four of the Company’s ordinary shares.

Adjusted basic and diluted earnings per ADS were both RMB2.04 (US$0.28) in this quarter, representing an increase of 50.0% year over year from RMB1.36 in the same period of 2022.

Conference Call

The Company’s management will hold an earnings conference call at 4:00 A.M. Eastern Standard Time on Tuesday, November 21, 2023 (5:00 P.M. Beijing Time on the same day) to discuss the financial results. The conference call can be accessed by the following Zoom link or dialing the following numbers:

Access 1

Join Zoom meeting.

Zoom link: https://dooyle.zoom.us/j/83537975392?pwd=EH04HZUn0J49ezZi7m0bymGArajiFZ.1

Meeting Number: 835 3797 5392

Meeting Passcode: 9896

Access 2

Listeners may access the call by dialing the following numbers by using the same meeting number and passcode with access 1.

United States:                          +1 213 338 8477 (or +1 646 518 9805)

Mainland China:                       400 182 3168 (or 400 616 8835)

Hong Kong, China:                  +852 5803 3730 (or +852 5803 3731)

United Kingdom:                      +44 203 481 5237 (or +44 131 460 1196)

France:                                    +33 1 7037 9729 (or +33 1 7037 2246)

Singapore:                               +65 3158 7288 (or +65 3165 1065)

Canada:                                   +1 438 809 7799 (or +1 204 272 7920)

Access 3

Listeners can also access the meeting through the Company’s investor relations website at https://ir.miniso.com/.

The replay will be available approximately two hours after the conclusion of the live event at the Company’s investor relations website at https://ir.miniso.com/.

About MINISO Group

MINISO Group is a global value retailer offering a variety of trendy lifestyle products featuring IP design. The Company serves consumers primarily through its large network of MINISO stores, and promotes a relaxing, treasure-hunting and engaging shopping experience full of delightful surprises that appeals to all demographics. Aesthetically pleasing design, quality and affordability are at the core of every product in MINISO’s wide product portfolio, and the Company continually and frequently rolls out products with these qualities. Since the opening of its first store in China in 2013, the Company has built its flagship brand “MINISO” as a globally recognized retail brand and established a massive store network worldwide. For more information, please visit https://ir.miniso.com/.

Exchange Rate

The U.S. dollar (US$) amounts disclosed in this press release, except for those transaction amounts that were actually settled in U.S. dollars, are presented solely for the convenience of the readers. The conversion of Renminbi (RMB) into US$ in this press release is based on the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of September 29, 2023, which was RMB7.2960 to US$1.0000. The percentages stated in this press release are calculated based on the RMB amounts.

Non-IFRS Financial Measures

In evaluating the business, MINISO considers and uses adjusted net profit, adjusted net margin, adjusted EBITDA, adjusted EBITDA margin, adjusted basic and diluted net earnings per share and adjusted basic and diluted net earnings per ADS as supplemental measures to review and assess its operating performance. The presentation of these non-IFRS financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with IFRS. MINISO defines adjusted net profit as profit for the period excluding equity-settled share-based payment expenses. MINISO calculates adjusted net margin by dividing adjusted net profit by revenue for the same period. MINISO defines adjusted EBITDA as adjusted net profit plus depreciation and amortization, finance costs and income tax expense. Adjusted EBITDA margin is computed by dividing adjusted EBITDA by revenue for the period. MINISO computes adjusted basic and diluted net earnings per ADS by dividing adjusted net profit attributable to the equity shareholders of the Company by the number of ADSs represented by the number of ordinary shares used in the basic and diluted earnings per share calculation on an IFRS basis. MINISO computes adjusted basic and diluted net earnings per share in the same way as it calculates adjusted basic and diluted net earnings per ADS, except that it uses the number of ordinary shares used in the basic and diluted earnings per share calculation on an IFRS basis as the denominator instead of the number of ADSs represented by these ordinary shares.

MINISO presents these non-IFRS financial measures because they are used by the management to evaluate its operating performance and formulate business plans. These non-IFRS financial measures enable the management to assess its operating results without considering the impacts of the aforementioned non-cash and other adjustment items that MINISO does not consider to be indicative of its operating performance in the future. Accordingly, MINISO believes that the use of these non-IFRS financial measures provides useful information to investors and others in understanding and evaluating its operating results in the same manner as the management and board of directors.

These non-IFRS financial measures are not defined under IFRS and are not presented in accordance with IFRS. These non-IFRS financial measures have limitations as analytical tools. One of the key limitations of using these non-IFRS financial measures is that they do not reflect all items of income and expense that affect MINISO’s operations. Further, these non-IFRS financial measures may differ from the non-IFRS information used by other companies, including peer companies, and therefore their comparability may be limited.

These non-IFRS financial measures should not be considered in isolation or construed as alternatives to profit, net profit margin, basic and diluted earnings per share and basic and diluted earnings per ADS, as applicable, or any other measures of performance or as indicators of MINISO’s operating performance. Investors are encouraged to review MINISO’s historical non-IFRS financial measures in light of the most directly comparable IFRS measures, as shown below. The non-IFRS financial measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting the usefulness of such measures when analyzing MINISO’s data comparatively. MINISO encourages you to review its financial information in its entirety and not rely on a single financial measure.

For more information on the non-IFRS financial measures, please see the table captioned “Reconciliation of Non-IFRS Financial Measures” set forth at the end of this press release.

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 words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,”, “potential,” “continue” or other similar expressions. Among other things, the quotations from management in this announcement, as well as MINISO’s strategic and operational plans, contain forward-looking statements. MINISO may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC“) and The Stock Exchange of Hong Kong Limited (the “HKEX“), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about MINISO’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: MINISO’s mission, goals and strategies; future business development, financial conditions and results of operations; the expected growth of the retail market and the market of branded variety retail of lifestyle products in China and globally; expectations regarding demand for and market acceptance of MINISO’s products; expectations regarding MINISO’s relationships with consumers, suppliers, MINISO Retail Partners, local distributors, and other business partners; competition in the industry; proposed use of proceeds; and relevant government policies and regulations relating to MINISO’s business and the industry. Further information regarding these and other risks is included in MINISO’s filings with the SEC and the HKEX. All information provided in this press release and in the attachments is as of the date of this press release, and MINISO undertakes no obligation to update any forward-looking statement, except as required under applicable law.

MINISO GROUP HOLDING LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

(Expressed in thousands)

As at

As at

June 30, 2023

September 30, 2023

(Audited)

(Unaudited)

RMB’000

RMB’000

US$’000

ASSETS

Non-current assets

Property, plant and equipment

534,634

654,331

89,684

Right-of-use assets

2,552,600

2,669,901

365,940

Intangible assets

25,277

21,292

2,918

Goodwill

21,069

21,170

2,902

Deferred tax assets

161,617

151,415

20,753

Other investments

73,870

73,870

10,125

Other receivables

74,641

87,510

11,994

Term deposits

100,000

100,000

13,706

3,543,708

3,779,489

518,022

Current assets

Other investments

205,329

301,361

41,305

Inventories

1,450,519

1,858,935

254,788

Trade and other receivables

1,150,156

1,323,950

181,462

Cash and cash equivalents

6,489,213

6,079,746

833,299

Restricted cash

27,073

34,738

4,761

Term deposits 

581,715

267,927

36,723

9,904,005

 

9,866,657

1,352,338

Total assets

13,447,713

13,646,146

1,870,360

EQUITY

Share capital

95

95

13

Additional paid-in capital

7,254,871

6,331,304

867,777

Other reserves

1,106,718

1,114,470

152,751

Retained earnings

539,331

1,151,922

157,884

Equity attributable to equity shareholders of the Company

8,901,015

8,597,791

1,178,425

Non-controlling interests

17,253

21,074

2,889

Total equity

8,918,268

8,618,865

1,181,314

LIABILITIES

Non-current liabilities

Contract liabilities

46,754

41,425

5,678

Loans and borrowings

7,215

6,391

876

Lease liabilities

556,801

648,904

88,939

Deferred income

33,080

31,160

4,271

643,850

727,880

99,764

Current liabilities

Loans and borrowings

–

710

97

Trade and other payables

3,019,302

3,372,587

462,252

Contract liabilities

292,887

278,915

38,228

Lease liabilities

328,933

335,886

46,037

Deferred income

6,778

6,735

923

Current taxation

237,695

304,568

41,745

3,885,595

4,299,401

589,282

Total liabilities

4,529,445

5,027,281

689,046

Total equity and liabilities

13,447,713

13,646,146

1,870,360

MINISO GROUP HOLDING LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS

(Expressed in thousands, except for per share and per ADS data)

Three months ended September 30,

2022

2023

(Unaudited)

(Unaudited)

RMB’000

RMB’000

US$’000

Revenue

2,772,444

3,791,154

519,621

Cost of sales

(1,783,865)

(2,207,456)

(302,557)

Gross profit

988,579

1,583,698

217,064

Other income

6,419

13,437

1,842

Selling and distribution expenses

(381,345)

(640,889)

(87,841)

General and administrative expenses

(167,626)

(170,552)

(23,376)

Other net income

64,035

953

130

(Credit loss)/reversal of credit loss on trade and other receivables

(554)

1,666

228

Operating profit

509,508

788,313

108,047

Finance income

32,255

69,366

9,508

Finance costs

(7,184)

(11,481)

(1,574)

Net finance income 

25,071

57,885

7,934

Profit before taxation

534,579

846,198

115,981

Income tax expense

(130,435)

(227,923)

(31,239)

Profit for the period

404,144

618,275

84,742

Attributable to:

Equity shareholders of the Company

411,634

612,591

83,963

Non-controlling interests

(7,490)

5,684

779

Earnings per share for ordinary shares

-Basic

0.33

0.49

0.07

-Diluted

0.33

0.49

0.07

Earnings per ADS

(Each ADS represents 4 ordinary shares)

-Basic

1.32

1.96

0.27

-Diluted

1.32

1.96

0.27

Three months ended September 30,

2022

2023

(Unaudited)

(Unaudited)

RMB’000

RMB’000

US$’000

Profit for the period

404,144

618,275

84,742

Items that may be reclassified subsequently to profit or loss:

Exchange differences on translation of financial statements of foreign operations

26,476

(17,880)

(2,451)

Other comprehensive income/(loss) for the period

26,476

(17,880)

(2,451)

Total comprehensive income for the period

430,620

600,395

82,291

Attributable to:

Equity shareholders of the Company

432,208

596,574

81,767

Non-controlling interests

(1,588)

3,821

524

MINISO GROUP HOLDING LIMITED

RECONCILIATION OF NON-IFRS FINANCIAL MEASURES

(Expressed in thousands, except for per share and per ADS data)

Three months ended September 30,

2022

2023

(Unaudited)

(Unaudited)

RMB’000

RMB’000

US$’000

Reconciliation of profit for the period to adjusted net profit:

Profit for the period

404,144

618,275

84,742

Add back:

Equity-settled share-based payment expenses

13,227

23,769

3,258

Adjusted net profit

417,371

642,044

88,000

Attributable to:

Equity shareholders of the Company

424,861

636,360

87,221

Non-controlling interests

(7,490)

5,684

779

Adjusted net earnings per share for ordinary shares(1)

-Basic

0.34

0.51

0.07

-Diluted

0.34

0.51

0.07

Adjusted net earnings per ADS

(Each ADS represents 4 ordinary shares)

 

1.36

 

2.04

 

0.28

-Basic

-Diluted

1.36

2.04

0.28

Reconciliation of adjusted net profit for the period to adjusted EBITDA:

Adjusted net profit

417,371

642,044

88,000

Add back:

Depreciation and amortization

108,657

132,868

18,211

Finance costs

7,184

11,481

1,574

Income tax expense

130,435

227,923

31,239

Adjusted EBITDA

663,647

1,014,316

139,024

Adjusted EBITDA margin

23.9 %

26.8 %

26.8 %

Note:

(1) Adjusted basic and diluted net earnings per share are computed by dividing adjusted net profit attributable to the equity shareholders of the Company by the number of ordinary shares used in the basic and diluted earnings per share calculation on an IFRS basis.

MINISO GROUP HOLDING LIMITED

UNAUDITED ADDITIONAL INFORMATION

(Expressed in millions, except for percentages)

Three months ended September 30,

2022

2023

YoY

RMB

RMB

US$

Revenue

Domestic Operations

1,852

2,496

342

35 %

-MINISO Brand

1,700

2,307

316

36 %

-TOP TOY Brand

124

181

25

46 %

-Others

28

8

1

(71) %

International Operations

920

1,295

178

41 %

2,772

3,791

520

37 %

MINISO GROUP HOLDING LIMITED

UNAUDITED ADDITIONAL INFORMATION

As of

September 30,
2022

June 30,
 2023

September 30,
2023

YoY

QoQ

Number of MINISO stores in China

First-tier cities

464

474

499

35

25

Second-tier cities

1,369

1,496

1,554

185

58

Third- or lower-tier cities

1,436

1,634

1,749

313

115

Total

3,269

3,604

3,802

533

198

MINISO GROUP HOLDING LIMITED

UNAUDITED ADDITIONAL INFORMATION

As of

September 30,
 2022

June 30,
 2023

September30, 
2023

YoY

QoQ

Number of MINISO stores in overseas markets

Asian countries excluding China

1,108

1,206

1,264

156

58

Americas

556

615

654

98

39

Europe

169

198

218

49

20

Others

194

168

177

(17)

9

Total

2,027

2,187

2,313

286

126
PR Newswire

Automation Anywhere Announces Strong Third Quarter FY24 Performance on Power of Generative AI-led deals, Large Enterprise Customers and Global Momentum

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Achieved Profitability a Quarter Ahead of Plan and Expects Strong Fourth Quarter

SAN JOSE, Calif., Nov. 21, 2023 /PRNewswire/ — Automation Anywhere, the leader in intelligent automation that puts AI to work across every aspect of an organization, today announced it delivered strong third quarter results, propelled by new generative AI-enhanced automation products, large enterprise customer deals and global sales execution. With its strong performance and momentum across global regions, the company reported that the dollar value of large deals increased by greater than 35 percent year on year, helping the company achieve profitability ahead of plan.

“Third quarter results exceeded goals across our key metrics, with large deal growth as a robust signal that customers are increasingly adopting our platform for business transformation,” said Mihir Shukla, CEO and Co-founder of Automation Anywhere. “Our GenAI-powered solutions and use cases contributed to 30 percent of the bookings, confirming that customers are looking for the powerful combination of AI and automation technologies to solve their complex challenges. The combination of strong revenue performance and disciplined cost control allowed us to reinvest in growth. Building an enduring ‘Rule of 40’ company is one of our goals and our financial results represent a tangible signal that we’re on the right track.”

Key Business Highlights

  • Large deals over $100,000 in annualized value contributed more than 50 percent of the bookings in the quarter.
  • Robust performance by the Enterprise business was led by strong bookings in North America, APJ, India and Middle East regions.
  • More than 50 percent of customers downloaded the company’s Generative AI automation packages and can securely develop next-generation automation solutions with enterprise-grade AI models from industry leaders including Anthropic, AWS, Google Vertex AI, Microsoft Azure OpenAI Service, and OpenAI ChatGPT Enterprise.
  • Large customer base, high customer retention and continued product leadership led to improved cash flow and a strong balance sheet.

“Improving productivity is a top area of focus for organizations adopting GenAI and a major driver in the rapid and accelerating investments in this technology,” according to Maureen Fleming, AI and Automation Research Vice President at IDC. “The convergence of cloud, automation, and GenAI to deliver advanced capabilities aimed at efficiency and productivity will drive performance in organizations — and growth for the providers of these converged services.”  

“We are in a once-in-a-generation opportunity to reimagine every aspect of a company’s business operations, where all departments and functions will benefit from automation and generative AI. We’re seeing clear signals that intelligent automation solutions are one of the best ways to deploy AI safely and securely in organizations and achieve significant ROI quickly,” Shukla continued.

Third Quarter Announcement Highlights

  • Automation Anywhere announced the largest expansion of its generative AI-powered automation platform to date, featuring a new Responsible AI Layer at the core of its platform. This foundational layer includes the first and only custom generative AI automation models developed on top of leading Large Language Models and trained with anonymized metadata from millions of automations. These models give companies the ability to develop and run complex processes and workflows automatically, first by understanding the work request, converting natural language into steps, and dynamically creating new process workflows. A large number of enterprise processes and workflows can be automated, creating a new system of work that fundamentally transforms organizations’ operating models to help them better manage business conditions and disruptions.
  • The Automation Success Platform also includes new high-trust AI tools and security and governance capabilities that are key to deploying AI-based automations at scale with access controls, data privacy, real-time monitoring for safe, flexible enterprise-wide deployments.
  • The company also announced four generative AI-powered automation products including Autopilot, which enables the rapid development of end-to-end automations using generative AI. The new products enable organizations to automate more complex processes and end-to-end business workflows and accelerate their results and ROI.
  • Gartner named Automation Anywhere a Leader for the fifth consecutive year in the 2023 Magic Quadrant for Automation. Automation Anywhere was recognized as a Leader for its Completeness of Vision and Ability to Execute.

Automation Anywhere’s third quarter ended October 31, 2023. As a private company, Automation Anywhere does not disclose detailed financial information.

About Automation Anywhere
Automation Anywhere is the leader in intelligent automation solutions that put AI to work across every aspect of an organization. The company’s Automation Success Platform is powered with specialized AI, generative AI and offers process discovery, RPA, end-to-end process orchestration, document processing, and analytics, with a security and governance-first approach. Automation Anywhere empowers organizations worldwide to unleash productivity gains, drive innovation, improve customer service and accelerate business growth. The company is guided by its vision to fuel the future of work by unleashing human potential through intelligent automation. Learn more at www.automationanywhere.com.

Automation Anywhere is a registered trademark/service mark of Automation Anywhere, Inc. in the United States and other countries.

Source: Automation Anywhere, Inc.

PR Newswire

25Home Makes Premium Furniture Affordable, Proudly Announces Black Friday Sales

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25Home is a high-end retailer of boutique sectionals, coffee tables, chairs, sofas, and other furniture pieces. The brand is announcing munificent discounts during the upcoming Black Friday sale.

LOS ANGELES, Nov. 20, 2023 /PRNewswire/ — Among dozens of furniture companies contesting the title of the brand with best Black Friday deals, 25Home stands out with exemplary deals, discounts, and products.

25Home is a high-end retailer of boutique sectionals, coffee tables, chairs, sofas, and other furniture pieces. The brand is announcing munificent discounts during the upcoming Black Friday sale.
25Home is a high-end retailer of boutique sectionals, coffee tables, chairs, sofas, and other furniture pieces. The brand is announcing munificent discounts during the upcoming Black Friday sale.

25Home is an California-based direct-from-manufacturer furniture brand committed to ensuring everyone looking for high-quality furniture can find it at affordable prices. 25Home’s regular discounts have helped numerous American shoppers buy top-end furniture without breaking the bank, but the brand underscored that the freshly launched Black Friday deals will cast a tall shadow over all previous discounts.

Free shipping on all products site-wide, paying in installments via Afterpay and Sezzle, price match guarantees, and unbeatable 65% flash sale on select products are just some of the many perks of shopping at 25Home now, and especially in the upcoming weeks.

The brand has officially launched its Black Friday and Cyber Monday Sales Carnival event, both of which are set to run from the 12th of November through December 3rd. A broad spectrum of highly popular furniture products is included in these deals; from modern dining room sets and bedroom furniture to living room sets and accent chairs, customers can find a range of inexpensive top-grade furniture products at 25Home. 

The opportunity to pay in installments works in synergy with a myriad of available discounts on select 25Home products to enable consumers on a cash-strapped budget to purchase and own products without breaking the bank.

Moreover, products featured in 25Home’s Black Friday sale enjoy a munificent discount with code BLACK, UP TO 65% OFF.

Beyond that, this furniture company launched a limited-time Flash Sale event with discounts reaching up to 65%. This remarkable sale is whittling thousands of dollars off the price tags of dozens of highly sought-after furniture pieces like Feathers Chaise Sectional, Armchairs, Open Sectional Loungers, Plume Sofas, Feathers Ottomans, and numerous other products.

The company’s spokesperson highlighted that all 25Home customers can use AfterPay and Sezzle to purchase their chosen products and pay for them at a later date, stating: 

“At 25Home, we are excited to offer our customers the convenience and flexibility of Afterpay, a popular “buy now, pay later” service. Afterpay allows you to make purchases on our website and pay for them in four interest-free installments, giving you the freedom to enjoy your products immediately while managing your budget effectively,” 25Home’s spokesperson said.

25Home specializes in custom-made furniture. It sources materials from trustworthy long-time partners but its team is sketching, designing, assembling, and creating each furniture piece from top to bottom. The firm has built a reputation for not compromising quality for anything, yet managing to deliver its products much quicker than competing alternatives.

The list of exclusive perks all 25Home customers are privy to also encompasses free curbside shipping. The company prides itself on rapid hassle-free shipping and even despite the rigorous quality checks and inspections that all furniture is subjected to, the efficiency of 25Home’s team enables the company to ship products within merely 2 days of orders being processed:

“We take great pride in providing our customers with the finest furniture at the most competitive prices and free shipping sitewide. Our first priority is your pleasant shopping, that is what we work extremely hard to ensure. We ship everything we make from the Sacramento area. Shipping times differ based on the type of shipment and the destination,” the company’s spokesperson continued.

Hundreds of satisfied shoppers have dubbed 25Home the ultimate one-stop shop for all of their furniture needs. Confident that its customers will be completely satisfied with their purchases both price and quality-wise, 25Home is backing its products with a comprehensive 30-day money-back guarantee.

To top it off, 25Home is also offering a 100% price match guarantee, ensuring its customers that the prices that are currently listed will remain as such throughout the entirety of the Black Friday event.

25Home is reminding its customers that the Black Friday Sales Carnival event is in full swing lasting until 12.03. and is reminding buyers to use the exclusive promo code “BLACK” on their purchases.  More information about 25Home is available on the company’s official website.

Contact details:

Business: 25Home
Contact Name: Ivy
Contact Email: affiliate@25home.com
Website: https://25home.com/
Country: United States

PR Newswire

CyberSecAsia Recognizes Pentera as a Rising Star in the APAC Market

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Over 750 qualified end-user organizations in the APAC market selected Pentera as the “Rising Star” of the region

SINGAPORE, Nov. 20, 2023 /PRNewswire/ — Pentera, the leader in automated security validation, has been named a Rising Star at the CybersecAsia Readers’ Choice Awards 2023. The Rising Star award honors innovative providers that have recently entered the Asia Pacific (APAC) cybersecurity market and are generating value for end-user organizations.

“Pentera’s rapidly expanding customer base in APAC is testament to how its solution is meeting a critical cybersecurity need among organizations today,” said Victor Ng, Editor-in-Chief of CybersecAsia. “Against the fast-evolving and increasingly sophisticated cyberthreat landscape, Pentera’s innovation enables the speed and scale businesses in the region need to validate their cybersecurity postures.”

“One of the biggest challenges organizations face is determining if they are effectively protected against cyber attacks across their rapidly evolving attack surface,” said Michael Tan, VP of Asia Pacific at Pentera. “Pentera’s platform enables organizations to validate their existing security controls against attacks at an unprecedented speed and scale. Our business momentum in the APAC region underscores the tremendous value that we bring to our customers.”

Since announcing its expansion to APAC in 2022, Pentera has demonstrated rapid growth in the region. The company has successfully established a robust presence in key markets including Singapore, Australia, Japan, Hong Kong, Philippines, Thailand, and Indonesia. To date, Pentera already has nearly one thousand customers in production worldwide. Pentera’s customers represent a diverse range of industries, including telecommunications, critical infrastructure, financial institutions, media, retail, and local government.

About Pentera

Pentera is the category leader for Automated Security Validation, allowing every organization to test with ease the integrity of all cybersecurity layers, unfolding true, current security exposures at any moment, at any scale. Thousands of security professionals and service providers around the world use Pentera to guide remediation and close security gaps before they are exploited. Pentera is backed by leading investors such as K1 Investment Management, Insight Partners, Blackstone, Evolution Equity Partners, and AWZ. For more info, visit: Pentera.io

Media contact

Noam Hirsch
Senior PR Manager
Noam.Hirsch@pentera.io

PR Newswire

COSRX Launches TikTok Campaign Calling Upon Consumers to ‘PrepPair’ A Perfect Canvas to Elevate Skincare Results

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LOS ANGELES, Nov. 19, 2023 /PRNewswire/ — COSRX, a derm favorite skincare brand, created a significant buzz on TikTok with its #SlapSnail #SnailDanceChallenge #SnailDuo #LayerYourSPF TikTok Challenge, amassing an impressive 3 billion views under the #COSRX hashtag. And today, they are returning to TikTok with a brand new campaign, the #PrepPair challenge.

COSRX #PrePair TikTok Challenge
COSRX #PrePair TikTok Challenge

This campaign aims to spotlight the transformative effects of COSRX’s new product, The 6 Peptide Skin Booster Serum, emphasizing the importance of a well-prepared canvas for an enhanced skincare experience.

COSRX #PrePair TikTok Challenge - QR CODE
COSRX #PrePair TikTok Challenge – QR CODE

Launched in August, COSRX’s The 6 Peptide Skin Booster Serum tackles a range of skin concerns with its unique blend of six peptides, addressing firmness, wrinkles, soothing, brightening, texture, and pores. This first step serum provides a comprehensive solution for flawless skin.

COSRX #PrePair TikTok Challenge - Award
COSRX #PrePair TikTok Challenge – Award

Crafted for optimal comfort and efficacy, the serum boasts a lightweight liquid formula with a water-like texture. Its gentle and hydrating properties ensure rapid absorption, leaving no greasy residue. It’s great as a standalone serum, but the formula and texture facilitate effortless layering, making it the perfect first step to layer with other skincare products and boost their efficacy. Whether applied multiple times or incorporated into the initial steps, expect enhanced results for radiant and revitalized skin.

Participation in the #PrepPair challenge involves using the challenge filter to showcase COSRX products addressing various skin concerns. Participants are encouraged to flaunt newfound skin confidence through expressive selfies, allowing creativity in expressing confidence, happiness, excitement, quirkiness, or humor. Additionally, users can engage in a product review featuring The 6 Peptide Skin Booster Serum and best synergy duos, including The Vitamin C 23 Serum for brightening and hyperpigmentation, The Retinol 0.1 Cream for wrinkles and firmness, The Niacinamide 15 Serum for pores and sebum, and Advanced Snail 96 Mucin Power Essence for hydration and plumping skin.

Share thoughts through a GRWM, skincare tips, B&As, or any creative format. Don’t forget to include the designated hashtags: @cosrx_official #COSRX #PrepPair #SkinPrepping #SkincarePairing #Peptide.

All participants will automatically be included in the draw to win some incredible prizes. The top 200 winners will be awarded COSRX’s The 6 Peptide Skin Booster Serum and a randomly selected products from the synergy duos for the perfect pairing. And the TOP 10 winners, will win The AirPods Max with COSRX products. Challenge ends on 22nd Dec 2023 (PST) and all winners will be announced via their official Instagram (@cosrx) and TikTok channel (@cosrx_official) on Jan 5th, 2023.

Participants are invited to join the #PrepPair challenge and unlock the secrets to radiant, confident skin!

About COSRX:

With its powerful yet affordable skincare solutions, COSRX has quickly become one of America’s favorite skincare brands. Using a minimal number of highly effective natural extracts in concentrated doses, COSRX products deliver visible results by treating the skin with only the essentials it needs and nothing it doesn’t. Find its best-selling skincare solutions at retailers nationwide, including Amazon, ULTA, JCPenney, Target and Dermstore.

PR Newswire

Brigii Launches M5 Crevice Vacuum, the Perfect Gift for Holiday Mess Clean Up in Tiny Spaces

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SHENZHEN, China, Nov. 18, 2023 /PRNewswire/ — Brigii, a leading innovator in home solutions, is proud to announce the launch of its latest product, the M5 crevice vacuum. Designed to address the challenges of cleaning narrow and hard-to-reach spaces. The M5 crevice vacuum offers a convenient and efficient solution for women to tackle household chores easily.


As the holiday season ramps up, bringing joy and festivities, it also brings its fair share of messiness. Family gatherings, cooking, and baking often result in crumbs and spills scattered everywhere. From cookie crumbs hiding in the crevices of the couch to stubborn pine needles lodged in the carpet, and other crumbs that larger vacuums can’t reach, cleaning up can be a tedious and time-consuming task. The Brigii M5 crevice vacuum is the perfect Christmas gift that makes tackling these post-celebration messes a breeze. Its powerful suction and specialized crevice tool effortlessly remove dust and dirt, leaving no trace of the holiday chaos behind. And allows women to quickly tackle cleaning needs while still enjoying the season’s magic.

One of the key features of the M5 crevice vacuum is its versatile 2-in-1 blow and suction functionality. When in vacuum mode, the Brigii M5 mini vacuum utilizes its strong suction power to effectively remove dust, dirt, and debris from various tiny spaces. With its flexible crevice head and strong suction, it lifts dust from between couch cushions, under furniture, corners of stairs, and other awkward areas that are difficult to clean.

But that’s not all. The Brigii M5 goes beyond conventional vacuuming capabilities by transforming into a powerful blower. With just a simple switch, you can redirect the airflow to blow away leaves, dust, and other debris from outdoor spaces, garages, or even computer keyboards.

The M5 handheld vacuum has already garnered positive feedback from users. Amazon customer, Jane Smith, raved about its performance, “This vacuum is amazing for getting into all those tight spaces around the house. The crevice tool extends really far so I can easily clean out my fridge, stove, cabinets, and ceiling fans. The suction is also very powerful for such a small vacuum.” “I was looking for something compact but mighty to help tackle messes in my home. This M5 vacuum has been perfect – it picks up anything small messes I need with no problems. This thing is awesome and the price is unbeatable for the quality you get.” said John Doe.

“We are thrilled to introduce the M5 crevice vacuum to our customers,” said a spokesperson for Brigii. “Our mission has always been to make the lives of women easier by providing them with innovative home solutions. The M5 crevice vacuum is precisely engineered to assist women in effortlessly handling household cleaning, allowing them to save time and pursue their dreams while enjoying a fulfilling life.”

Buy M5 from Amazon US: https://amzn.to/3tJX7eb 

Connect with Brigii

Facebook：https://www.facebook.com/brigii.fans   
Instagram：https://www.instagram.com/brigii.official 
TikTok：https://www.tiktok.com/@brigii.official 

About Brigii

Founded in 2019, Brigii is an innovative home brand. Brigii was inspired by the modern woman’s desire for a harmonious and well-organized home environment. Our journey began with the vision to provide solutions that simplify the complexities of daily life, allowing her to savor precious moments with her loved ones. From kitchen appliances that streamline meal preparation to household tools solutions that bring ease and efficiency to her everyday routines.

Media Contacts

Company name: Brigii
Contact name: Vanessa
Email Address: sns_us@brigii.com 
Country: China

PR Newswire

HUAWEI AppGallery and Universiti Malaysia Pahang Al-Sultan Abdullah (UMPSA) collaborate host MLBB: ROCT 2023 to promote the growth of E-sports in Malaysia

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KUALA LUMPUR, Malaysia, Nov. 18, 2023 /PRNewswire/ — HUAWEI AppGallery is pleased to announce its first-ever collaboration with an educational institution to host an E-sports tournament titled “Mobile Legends Bang Bang: Rise of Champions Tournament 2023″ (MLBB: ROCT 2023). The MLBB: ROCT 2023 is a joint initiative between HUAWEI AppGallery and the Faculty of Computing (FK) at Universiti Malaysia Pahang Al-Sultan Abdullah (UMPSA), with support from Kementerian Belia & Sukan (KBS), Esports Integrated (ESI), Malaysia Digital Economy Corporation (MDEC) and Esports Pahang. The purpose of hosting this tournament is to promote E-sports among students at Higher Learning Institution (IPT) in Malaysia as it has become popular in the community nowadays. Apart from that, AppGallery has assisted in the rise of E-sports in Malaysia following the government’s initiative to promote Malaysia as a hub for the E-sports industry.

To coincide with the goal of promoting E-sports among students from Higher Learning Institution (IPT) in Malaysia, the MLBB: ROCT 2023 is open to all undergraduate students from public and private universities, polytechnics, as well as institutions recognised under the status of Premier Digital Tech Institutions (PDTI) by the Malaysia Digital Economy Corporation (MDEC). In addition, the tournament aims to elevate the Technical and Vocational Education and Training (TVET) sector to the highest level while promoting UMPSA as a leading institution supporting this initiative. Moreover, this tournament also encourages higher education students to venture into the ecosystem of E-sports, creating a strong and supportive community that can fully benefit from E-sports alongside their peers.

“We are thrilled to be collaborating with UMPSA, KBS, ESI, MDEC and Esports Pahang to host the MLBB: ROCT 2023, our first-ever E-sports tournament in collaboration with an educational institution,” said Rei Xiao, Director of Mobile Ecosystem Business Growth, Huawei APAC Region. “This tournament is a testament to our commitment to support the rise of E-sports in Malaysia and providing the users an opportunity to showcase their gaming skills, meet new friends and participate in healthy competition. We look forward to seeing all the talented gamers show up for this exciting event.”  

Together with the collaborations of four parties, the MLBB: ROCT 2023 has gone through several rounds of epic battles online including the Qualifier round where the initial matchups between 40 teams and the Playoff Stage which is a knockout round among 16 teams. The top 3 teams from the previous stage will have the opportunity to participate in the final of the tournament.

To celebrate the birth of the champion of MLBB: ROCT 2023, the final round of the tournament will be held on 22nd November 2023 at Universiti Malaysia Pahang Al-Sultan Abdullah (UMPSA). On the event day, all parties will work together to arrange the agenda of the event with fun filled activity which participant will walk away with attractive freebies.* The Champion of MLBB: ROCT 2023 will be awarded with the HUAWEI MatePad Pro 11-inch. The HUAWEI Watch GT 3 will be given to the first runner up, and the second runner up will be presented with the HUAWEI FreeBuds SE. Apart from this, users who take part in the interaction activities stand a chance to win a gift. Moreover, students who join AppGallery Discord will get limited peripheral.

For more information, please visit: https://www.umpsaesport.pro/

The tournament will focus on Mobile Legends: Bang Bang (MLBB), which is a popular free-to-play MOBA game developed by Moonton. The game offers players 5v5 MOBA gameplay to battle against three lanes to take down the enemy’s tower and defend their own. Besides, the game includes a variety of playable characters such as Tank, Marksman, Assassin, Fighter, Mage and Support available for players to choose from. The game feature of quick matchmaking allows players to start a new game within 10 seconds and finish it within 10 minutes. Plus, it also features built-in livestreaming and mobile controls for players to have a good gameplay experience.

Download MLBB on AppGallery now: https://bit.ly/3slW7ws

HUAWEI AppGallery is available for Android phone users. To download the app, follow these steps:

1.    Go to the download link and click on “Install” to have AppGallery on your Android device.

2.    Download HMS Core and click on “Install”.

3.    Create a HUAWEI ID and log in.

4.    Start downloading apps and games and enjoy AppGallery’s exclusive benefits and rewards.

Download AppGallery now: https://bit.ly/40VRapY

Join AppGallery Discord to get the latest tournament news, schedule and benefits: https://discord.gg/6C3fyEsQt3

*Terms and Conditions apply.

About HUAWEI AppGallery

AppGallery is the official app market on Huawei smartphones, featuring curated apps across a wide range of categories including games, education, lifestyle, and fashion. In addition, AppGallery users get access to a wide range of exclusive giveaways, rebates, coupons and VIP privileges.

Follow Huawei Mobile Services APAC social media for more info:

Official Website: https://consumer.huawei.com/my/mobileservices/ 

Facebook: https://www.facebook.com/HuaweiMobileServicesAPAC 

YouTube: https://www.youtube.com/@HuaweiMobileServicesAPAC/ 

AppGallery Discord: https://discord.gg/6C3fyEsQt3

Download AppGallery now: https://bit.ly/40VRapY 

PR Newswire

UL Solutions Announces First Demonstration of UL Procyon® AI Inference Benchmark for Windows at Snapdragon Summit

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The UL Procyon® AI Inference Benchmark for Windows helps the technology industry address consumer expectations for faster machine learning performance.

NORTHBROOK, Ill., Nov. 18, 2023 /PRNewswire/ — UL Solutions, a global leader in applied safety science, today announced that its UL Procyon® Artificial Intelligence (AI) Inference Benchmark for Windows demonstrated the AI inference performance of the Snapdragon® X Elite Platform during the 2023 Snapdragon Summit.

UL Solutions announced that its UL Procyon® Artificial Intelligence (AI) Inference Benchmark for Windows demonstrated the AI inference performance of the Snapdragon® X Elite Platform during the 2023 Snapdragon Summit.
UL Solutions announced that its UL Procyon® Artificial Intelligence (AI) Inference Benchmark for Windows demonstrated the AI inference performance of the Snapdragon® X Elite Platform during the 2023 Snapdragon Summit.

An inference engine comprises hardware and software that make decisions based on the rules and information stored in a knowledge base, and its performance can vary based on the device and other factors.

The UL Procyon AI Inference Benchmark for Windows compares multiple inference engines from different vendors, measuring the machine learning inference performance of Windows operating system devices using common machine vision models. These insights help technology companies evaluate inference performance and compare devices for AI use cases.

“With the unprecedented access to machine learning and artificial intelligence tools that consumers now have in their daily lives, technology vendors are utilizing performance insights to optimize inference engines for better performance with hardware and specific use cases,” said Jukka Makinen, managing director in the Software and Advisory group at UL Solutions. “Our UL Procyon AI Inference Benchmark for Windows empowers the technology industry with a performance measurement tool and insights that can assist in the development of faster AI-driven products and features. The close work between UL Solutions and Qualcomm Technologies helps enhance benchmark accuracy, relevancy and impartiality as AI continues to evolve at a rapid pace — particularly with the Snapdragon X Elite Platform.”

The AI workloads used in the UL Procyon AI Inference Benchmark for Windows are standard machine vision tasks, such as image classification, image segmentation, object detection and super-resolution. These tasks are executed using various neural networks and run on the device’s central processing unit (CPU), graphics processing unit (GPU) or a dedicated AI accelerator for comparing hardware performance.

“The insights gained from the UL Procyon AI Inference Benchmark for Windows enabled Qualcomm Technologies to optimize the performance of our machine learning tools and present data to highlight the new capabilities of our leading Snapdragon X Elite Platform,” said Surya Chittuluri, director of product management at Qualcomm Technologies, Inc. “We are pleased to be among the industry partners working with UL Solutions in the ongoing development of its AI benchmark in support of faster machine learning.”

Learn more about the UL Procyon AI Inference Benchmark for Windows.

About UL Solutions
A global leader in applied safety science, UL Solutions transforms safety, security and sustainability challenges into opportunities for customers in more than 100 countries. UL Solutions delivers testing, inspection and certification services, together with software products and advisory offerings, that support our customers’ product innovation and business growth. The UL Certification Marks serve as a recognized symbol of trust in our customers’ products and reflect an unwavering commitment to advancing our safety mission. We help our customers innovate, launch new products and services, navigate global markets and complex supply chains, and grow sustainably and responsibly into the future. Our science is your advantage.

Press contacts:
Tyler Khan
UL Solutions
ULNews@UL.com
T: +1 (847) 664.2139

Steven Brewster
UL Solutions
ULNews@UL.com
T: +1 (847) 664.8425

PR Newswire

5th China-Central and Eastern European Countries (Cangzhou) Small and Medium-Sized Enterprise Cooperation Forum Launched in N.China Province

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CANGZHOU, China, Nov. 18, 2023 /PRNewswire/ — The 5th China-Central and Eastern European Countries (CEEC) (Cangzhou) Small and Medium-Sized (SME) Cooperation Forum initiated on November 13th in Cangzhou, north China’s Hebei Province, announced the Cangzhou municipal government.

Signing ceremony of key cooperation projects at the 5th China-CEEC (Cangzhou) SME Cooperation Forum
Signing ceremony of key cooperation projects at the 5th China-CEEC (Cangzhou) SME Cooperation Forum

With the theme of “Expanding openness and cooperation for win-win development”, the forum was jointly sponsored by the Ministry of Industry and Information Technology of PRC (MIIT) and the People’s Government of Hebei Province, supported by the CEEC Secretariat and the Cangzhou Municipal People’s Government.

“Since establishing the China-Central and Eastern European countries cooperation mechanism in 2012, the economic and trade cooperation between the two sides has made positive progress, with an average annual growth rate of 8.1% and a two-way investment of nearly US$ 20 billion. The economic and trade cooperation between China and Central and Eastern European countries has shown great vitality and strong resilience.” Xu Xiaolan, Vice Minister of MIIT, addressed in her speech.

At the event site, 277 Chinese and foreign merchants from 10 countries came to look for business opportunities. The enterprises involved in automobile manufacturing, clean energy, intelligent equipment, laser industry and other fields.

“This forum is an important platform for exchanges between small and medium-sized enterprises in China and Central and Eastern European countries, which has promoted the economic development of all countries, made great contributions to the global market, and will bring more cooperation opportunities to Serbia.” Sinisa Mali, Deputy Prime Minister and Minister of Finance of Serbia, said.

It is reported that through the previous docking negotiations, this forum has reached 109 cooperation results with a total investment of 63.636 billion yuan.

In recent years, Cangzhou has developed into a critical modern port city in North China, the new industrial city in the Circum-Bohai Sea Area and an important node city in the urban agglomerations of Beijing, Tianjin and Hebei Province. For three consecutive years, Cangzhou has been named by Forbes China among the Top 100 Best Commercial Cities in Mainland China.

The China-CEEC (Cangzhou) SME Cooperation Forum was established in 2018, becoming China’s first cooperation zone for Central and Eastern European countries. For five years, the forum has served as an essential platform for strengthening exchanges and cooperation between China and Central and Eastern European countries.