Category Archives: PR Newswire

PR Newswire

10 years after introducing data, Globe Telecom embarks on ambitious network upgrade anew

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MANILA, Philippines, Sept. 25, 2020 — Globe Telecom (Globe) announces its largest network upgrade to date, 10 years after it introduced data with its nationwide network transformation program. The network upgrades come at the heels of the government asking telcos to improve internet services especially at these times when connectivity is a critical need.

Globe laid out a 3-pronged strategy to improve voice and data experience of its customers. The first is to accelerate cell site builds to expand coverage and increase capacity for data.  With the strong support of ARTA and the recently signed Bayanihan to Recover As One or Bayanihan 2, the faster processing and release of various national and LGU permits are crucial to jumpstart the infrastructure builds to improve the country’s overall state of connectivity. 

The second is to upgrade all its sites to have 4G/LTE using many different frequencies, which are important for both coverage and speeds. With 4G everywhere, the whole country will be data-ready and capable to meet the increasing demands of customers for bandwidth and faster speeds. 

The third is to fast track the fiberization of Filipino homes to improve data experience using wireline connectivity. As Filipinos spend more time at home because of the lockdowns, Globe hopes to address the growing demand for home broadband with a much larger fiber footprint, using only the most advanced technologies.

All the network upgrades are expected to be completed by 2021. Globe president and CEO Ernest Cu said, "Globe is in a much better position now to fulfill the demands of its customers. In heeding the call of the government, we shall endeavor to provide our customers with improved network performance and quality of service. We look towards the future where our country would have a strong digital economy backed by resilient and reliable connectivity."

Globe is the country’s leader in mobile and hopes to cement its leadership in the broadband category. For 2020, the company committed to spend Php 50.3 billion in capex, majority of which will be spent on its network upgrade initiatives.  

The company previously released a series of network related updates including the build of 900 cellsites with five shared independent tower companies (towercos), securing 190 permits from 85 local government units (LGU), network upgrades in eight key areas of Visayas and Mindanao, as well as putting up 32 new towers in several key barangays in Quezon City. Globe is also rolling out fiber lines in Metro Manila, Bulacan, Cavite, Batangas, Cebu and Davao del Sur. The telco’s fiber roll out during the last 8 months already represents a 51.4% increase over full year 2019.  To date, the company is proactively migrating customers from copper lines to fiber free of charge.

Even as Globe undertakes a massive network upgrade, it is also firing up its 5G network, targetting areas in key locations such as Bonifacio Global City (BGC), Makati CBD, Rockwell Center, Ortigas CBD, strategic areas along EDSA and C5, Taguig, Pasig, Mandaluyong, Marikina, Paranaque, Muntinlupa, Las Pin͂as, Valenzuela, and Caloocan.

Globe is committed to support 10 of the United Nations Sustainable Development Goals, such as UNSDG No. 9 on building resilient infrastructure, promoting sustainable industrialization and fostering innovation. To know more visit www.globe.com.ph.

Globe Press Room:  https://www.globe.com.ph/about-us/newsroom.html
Twitter: @talk2GLOBE | Facebook: http://www.facebook.com/globeph

Related Links :

http://www.globe.com.ph

PR Newswire

Creaform Announces New and Complete R-Series(TM) suite of Automated Dimensional Quality Control Solutions

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The new MetraSCAN-R BLACK robot mounted scanner, additional models of the CUBE-R 3D scanning CMM and the new digital twin environment software will resolve many manufacturers’ CMM productivity issues

LEVIS, Quebec, Sept. 25, 2020 — Creaform, a worldwide leader in 3D measurement solutions, today announced the latest release in its R-Series™ lineup, including the new MetraSCAN-R BLACK|Elite™ as well as the addition of four different models in the CUBE-R 3D scanning measuring machine. Creaform also launched the brand-new VXscan-R™ digital twin environment software module, which completes the company’s turnkey automated quality control solution suite.

Discover the fastest and most versatile automated quality control solution in the market

  • Blazing-fast cycle times: Featuring 45 blue laser lines for a high-density scanning area that takes up to 1,800,000 measurements per second and generates live meshes
  • More accurate and repeatable results: High accuracy of 0.025 mm (0.001 in.) in shop floor conditions, regardless of instabilities, vibrations and thermal variations
  • High resolution: A measurement resolution of 0.025 mm (0.0009 in) that generates highly detailed scans regardless of the surface, trim, geometric feature or type of sheet metal
  • New digital twin environment software: VXscan-R enables users of all levels to easily and quickly program robot paths and optimize the line of sight of the robotic system
  • Maximum versatility: Captures highly reliable 3D measurement data on shiny surfaces, objects with variations in reflectivity, different part sizes, and a wide variety of surface geometries
  • Configurable and customizable portfolio: The CUBE-R, which is offered in 16 configurations, and the MetraSCAN-R BLACK|Elite can be integrated into a custom measuring cell built according to client’s specific needs. Options include different types of safety enclosures, payloads and asset protection configurations.
  • Operational simplicity: Creaform’s automated quality control solutions can be used by professionals who have little metrology knowledge. The MetraSCAN-R BLACK|Elite is compatible with major metrology software, enabling seamless integration within any type of production workflow.

"Manufacturers need to achieve fast, accurate and repeatable output – now more than ever before. With Creaform’s automated quality control solutions, manufacturers can increase their productivity," explains Jerome-Alexandre Lavoie, Product Manager at Creaform. "By detecting and addressing quality issues faster based on statistical analyses, corrective measures can be more proactively implemented to mitigate total quality costs (TQC) and unprofitable recalls."

Webcasts of the products launch will take place on September 25, 2020, at several times. Visit the webcasts section to get all the details.

About Creaform

Creaform develops, manufactures, and sells 3D portable and automated measurement technologies and specializes in engineering services. The company offers innovative solutions for applications such as 3D scanning, reverse engineering, quality control, non-destructive testing, product development, and numerical simulation (FEA/CFD). Its products and services cater to a variety of industries, including automotive, aerospace, consumer products, heavy industries, healthcare, manufacturing, oil and gas, power generation, research and education.

With headquarters and manufacturing operations in Levis, Quebec, Creaform operates innovation centers in Levis as well as Grenoble, France, with direct sales operations in Canada, USA, Mexico, Brazil, France, Germany, Italy, Spain, China, Japan, Korea, Thailand and Singapore. Creaform is part of AMETEK Ultra Precision Technologies, a division of AMETEK Inc., which a leading global manufacturer of electronic instruments and electromechanical devices, with annual sales of approximately $5 billion.

creaform3d.com

Related Links :

http://creaform3d.com

PR Newswire

2020 World System Integrator Conference to Create an International System Integration Brand

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TAIPEI, Sept. 25, 2020 — The 2020 World System Integrator Conference (WSIC) online forum week, organized by System Integration Promotion Alliance (SIPA), covers smart cities, international cooperation in system integration, and the current developmental needs of countries. More than 100 overseas manufacturers and 350 people participated in the event.

The speakers from the four Taiwanese manufacturers and Ms. Vivian Huang (Director General, III) From left to right：Syscom Group President, James Liu, Aaeon Technology Senior Advisor, Steve Hsu, Director General, III, Ms. Vivian Huang, Glory Technology CEO, Eric Chang, Chunghwa Telecom Director, Hsuan-Lung Liu
The speakers from the four Taiwanese manufacturers and Ms. Vivian Huang (Director General, III) From left to right：Syscom Group President, James Liu, Aaeon Technology Senior Advisor, Steve Hsu, Director General, III, Ms. Vivian Huang, Glory Technology CEO, Eric Chang, Chunghwa Telecom Director, Hsuan-Lung Liu

Representatives of the Asian Development Bank (ADB) and the European Bank for Reconstruction and Development (EBRD) shared strategies to help modernize infrastructure through digital technology. The winners of Taiwan’s 2020 System Integration Award also shared their success stories, and Taiwanese system integrators and representatives from Thailand, Indonesia, Russia, and India discussed their experiences in various countries.

Since the first WSIC last year, the System Integration Promotion Alliance Project Office (SIPA) of the "Industrial Development Bureau" (IDB), "Ministry of Economic Affairs" has arranged more than 70 meetings between manufacturers, opened up at least 20 business opportunities, and facilitated cooperation between Taiwanese manufacturers and local players in Thailand, Vietnam, and the Philippines.

This year, the Minister of the "National Development Council" (NDC), Kung Ming-Hsin and the Deputy Director-General of the IDB, "Ministry of Economic Affairs" (MOEA), Yang Chih-ching were specially invited to speak.

Minister Kung Ming-Hsin shared that the government began the Asia Silicon Valley Development Plan in 2016 to promote economic growth through entrepreneurship, industrial transformation through the Industrial Internet of Things, global resources for innovation and R&D, system integration capabilities of domestic enterprises, and overseas markets. Taiwan also plans to establish three international-level system integration companies.

Deputy Director-General, Yang Chih-ching also mentioned that system integration has become one of Taiwan’s important industrial directions. Between 2018 to 2020, solutions tested included 224 smart services that have been developed in 22 counties and cities across Taiwan. These covered 5G factories, remote medical care on outlying islands, AI environmental monitoring, smart transportation, and smart learning.

The four Taiwanese manufacturers invited by WSIC this year have all been successful overseas export cases:

•  The Syscom Group, which developed smart service robots used in Japan.

•  AAEON, which has collaborated with General Electric (GE) to acquire an energy project for four power plants in the U.S.

•  Glory Technology, which expanded the railway communication systems in Thailand and the Philippines.

•  Chunghwa Telecom, which deployed telecommunications networks in Thailand, Malaysia, Vietnam, and Cambodia, and implemented information and communication applications in new smart parks.

Despite industrial impacts from COVID-19, pandemic-prevention technologies, such as AI thermal imaging and disease control systems have been recognized internationally. Hopefully, this will become an emerging field for system integration and export development in Taiwan.

In addition to the WSIC online forum this year, SIPA also set up a pavilion on smart solution and system integration at the 2020 Smart City Online Exhibition.

All are welcome to visit the website at https://smartcityonline.org.tw/pavilion.php?vip=SIPA

WSIC online forum registration URL: http://wsic.hsexpoevent.com/

Photo – https://photos.prnasia.com/prnh/20200924/2927440-1?lang=0

PR Newswire

Trip.com Group Reports Unaudited Second Quarter of 2020 Financial Results

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Shanghai, Sept. 25, 2020 — Trip.com Group Limited (Nasdaq: TCOM) ("Trip.com Group" or the "Company"), a leading provider of online travel and related services, including accommodation reservation, transportation ticketing, packaged-tour and in-destination services, corporate travel management, and other travel-related services, today announced its unaudited financial results for the second quarter ended June 30, 2020.

Key Highlights

  • Our business has continued to show strong momentum of recovery in the China domestic market.
    —    Reservations for China domestic hotels achieved positive growth, with high-end domestic hotels leading the way over the past month.
    —    China domestic flight reservations achieved positive growth over the past months.
  • The Company’s results for the second quarter of 2020 were significantly and negatively impacted due to the ongoing COVID-19 pandemic.
    —    Net revenue for the second quarter of 2020 was RMB3.2 billion (US$448 million), representing a 64% decrease from the same period in 2019. The performance reflects a strong recovery of our China domestic businesses, offset by a steep decline of our international businesses.
    —    Operating loss for the second quarter of 2020 was RMB688 million (US$97 million). Excluding share-based compensation charges, non-GAAP loss from operations was RMB200 million (US$27 million).

"In the second quarter of 2020, the global travel industry continued to experience significant impact as a result of the ongoing COVID-19 pandemic. On a promising note, we have seen all of our domestic business lines recover to varying degrees during the quarter," said James Liang, Executive Chairman. "As global efforts intensify in this fight against COVID-19, we are increasingly optimistic that there will be more resumption of travel activity in major markets worldwide."

"Although the second quarter witnessed a full quarter impact of COVID-19 across business lines, our Company quickly adjusted operational priorities to suit the changing macro environment through minimizing operating expenses while meaningfully outpacing the industry in recovery," said Jane Sun, Chief Executive Officer. "We are glad to see that reservations for China domestic flights and hotels have reached a level of full recovery in succession during August, and we strive to make further progress as the travel industry continues to pick up more momentum."

Second quarter of 2020 Financial Results and Business Updates

The Company’s results for the second quarter of 2020 were negatively impacted by the COVID-19 pandemic. The pandemic continued to cause a decline in travel demands even though the travel restrictions have been lifted in some countries as the spread of the coronavirus has been contained to various degrees. Consumers are becoming more comfortable with traveling especially to domestic locations. This has led to more travel bookings compared to February and March 2020. Yet, travel demands remained significantly lower than the previous year especially for the China outbound and overseas markets.

For the second quarter of 2020, Trip.com Group reported net revenue of RMB3.2 billion (US$448 million), representing a 64% decrease from the same period in 2019. Net revenue for the second quarter of 2020 decreased by 33% from the previous quarter.

Accommodation reservation revenue for the second quarter of 2020 was RMB1.3 billion (US$178 million), representing a 63% decrease from the same period in 2019, and a 9% increase from the previous quarter, primarily due to the recovery of China domestic market.

Transportation ticketing revenue for the second quarter of 2020 was RMB1.2 billion (US$163 million), representing a 66% decrease from the same period in 2019, and a 52% decrease from the previous quarter.

Packaged-tour revenue for the second quarter of 2020 was RMB130 million (US$18 million), representing an 88% decrease from the same period in 2019, and a 75% decrease from the previous quarter.

Corporate travel revenue for the second quarter of 2020 was RMB162 million (US$23 million), representing a 47% decrease from the same period in 2019, and a 29% increase from the previous quarter, primarily due to the recovery of China domestic market.

Gross margin was 72% for the second quarter of 2020, which decreased from 79% for the same period in 2019 and 74% for the previous quarter.

Product development expenses for the second quarter of 2020 decreased by 32% to RMB1.8 billion (US$255 million) from the same period in 2019, primarily due to a decrease in expenses related to product development personnel. Product development expenses for the second quarter of 2020 increased by 6% from the previous quarter, primarily due to an increase in expenses related to product development personnel. Product development expenses for the second quarter of 2020 accounted for 57% of the net revenue for the same period. Excluding share-based compensation charges, non-GAAP product development expenses for the second quarter of 2020 accounted for 49% of the net revenue for the same period, which increased from 28% in the same period in 2019 and 32% in the previous quarter.

Sales and marketing expenses for the second quarter of 2020 decreased by 69% to RMB661 million (US$94 million) from the same period in 2019 and decreased by 52% from the previous quarter, primarily due to a decrease in expenses relating to sales and marketing activities. Sales and marketing expenses for the second quarter of 2020 accounted for 21% of the net revenue for the same period. Excluding share-based compensation charges, non-GAAP sales and marketing expenses for the second quarter of 2020 accounted for 20% of the net revenue for the same period, which decreased from 24% in the same period in 2019 and 29% in the previous quarter.

General and administrative expenses for the second quarter of 2020 decreased by 37% to RMB513 million (US$73 million) from the same period in 2019, primarily due to a decrease in personnel expenses, and decreased by 74% from the previous quarter because we accrued RMB1.2 billion bad debt provision in the first quarter of 2020. General and administrative expenses for the second quarter of 2020 accounted for 16% of the net revenue for the same period. Excluding share-based compensation charges, non-GAAP general and administrative expenses accounted for 10% of the net revenue for the same period, which increased from 8% in same period in 2019 and decreased from 38% in the previous quarter.

Loss from operations for the second quarter of 2020 was RMB688 million (US$97 million), compared to income of RMB1.3 billion in the same period in 2019 and loss of RMB1.5 billion in the previous quarter. Excluding share-based compensation charges, non-GAAP loss from operations was RMB200 million (US$27 million), compared to income of RMB1.7 billion in the same period in 2019 and loss of RMB1.2 billion in the previous quarter.

Operating margin was -22% for the second quarter of 2020, compared to 15% in the same period in 2019, and -32% in the previous quarter. Excluding share-based compensation charges, non-GAAP operating margin was -6%, compared to 20% in the same period in 2019 and -25% in the previous quarter.

Income tax expense for the second quarter of 2020 was RMB201 million (US$29 million), compared to expense of RMB336 million in the same period of 2019 and benefit of RMB254 million in the previous quarter. The change in our effective tax rate was primarily due to the non-taxable income of the fair value changes in equity securities investments.

Net loss attributable to Trip.com Group’s shareholders for the second quarter of 2020 was RMB476 million (US$67 million), compared to net loss attributable to Trip.com Group’s shareholders of RMB403 million in the same period in 2019 and RMB5.4 billion in the previous quarter, primarily due to the operating loss associated with impact of COVID-19, the fair value changes in equity securities investments, impairments of long-term investments, gains from other investing activities and equity in loss of our affiliates. Excluding share-based compensation charges and fair value changes of equity securities investments, non-GAAP net loss attributable to Trip.com Group’s shareholders was RMB1.2 billion (US$162 million), compared to net income of RMB1.3 billion in the same period in 2019 and net loss of RMB2.2 billion in the previous quarter.

Diluted losses per ADS were RMB0.80 (US$0.11) for the second quarter of 2020. Excluding share-based compensation charges and fair value changes of equity securities investments, non-GAAP diluted losses per ADS were RMB1.93 (US$0.27) for the second quarter of 2020.

As of June 30, 2020, the balance of cash and cash equivalents, restricted cash, short-term investment, held to maturity time deposit and financial products was RMB64.3 billion (US$9.1 billion).

Subsequent Events

In July, 2020, the Company has completed the put right offer relating to its 1.99% Convertible Senior Notes due 2025 (the "2025 Notes"). The aggregate purchase price of the 2025 Notes was US$395,240,000. Following the settlement of repurchase of 2025 Notes, the total number of ordinary shares of the Company on a fully diluted basis was reduced by 0.9 million shares.

In July, 2020, the Company’s 1.00% Convertible Senior Notes due 2020 (the "2020 Notes") with a principle amount of US$700 million matured and were repaid in cash. Following the settlement of the repayment of 2020 Notes, the total number of ordinary shares of the Company on a fully diluted basis was reduced by 1.6 million shares.

In July, 2020, the Company issued US$500 million in aggregate principal amount of its 1.50% Exchangeable Senior Notes due 2027 (the "2027 Notes"). The 2027 Notes will be exchangeable, at the option of the holders and subject to certain conditions, into cash, American depositary shares ("Huazhu ADSs") of Huazhu Group Limited (Nasdaq: HTHT) ("Huazhu"), each representing one ordinary share of Huazhu, par value $0.0001 per share, or a combination of cash and Huazhu ADSs, at the Company’s election subject to certain conditions.

Business Outlook

As a result of the continued negative impact due to COVID-19 in the third quarter of 2020, the Company expects net revenue to decrease by approximately 47%-52% year-over-year for the third quarter of 2020. This forecast reflects the current and preliminary view based on best information available at the time, which is subject to change.

Conference Call  

Trip.com Group’s management team will host a conference call at 8:00PM U.S. Eastern Time on September 24, 2020 (or 8:00AM on September 25, 2020 in the Shanghai/Hong Kong Time) following the announcement.

The conference call will be available on Webcast live and replay at: https://investors.trip.com. The call will be archived for twelve months at this website.

All participants must pre-register to join this conference call using the Participant Registration link below:
https://s1.c-conf.com/DiamondPass/10009786-invite.html

Upon registration, each participant will receive details for this conference call, including dial-in numbers, passcode and a unique access PIN. To join the conference, please dial the number provided, enter the passcode followed by your PIN, and you will join the conference instantly.

A telephone replay of the call will be available after the conclusion of the conference call until October 2, 2020.

The dial-in details for the replay:

International dial-in number:

+61-7-3107-6325

Passcode:

10009786

 Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "may," "will," "expect," "anticipate," "future," "intend," "plan," "believe," "estimate," "is/are likely to," "confident" or other similar statements. Among other things, quotations from management and the Business Outlook section in this press release, as well as Trip.com Group’s strategic and operational plans, contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, the potential impact of the COVID-19 to Trip.com Group’s business operations, severe or prolonged downturn in the global or Chinese economy, general declines or disruptions in the travel industry, volatility in the trading price of Trip.com Group’s ADSs, Trip.com Group’s reliance on its relationships and contractual arrangements with travel suppliers and strategic alliances, failure to compete against new and existing competitors, failure to successfully manage current growth and potential future growth, risks associated with any strategic investments or acquisitions, seasonality in the travel industry in the relevant jurisdictions where Trip.com Group operates, failure to successfully develop Trip.com Group’s existing or future business lines, damage to or failure of Trip.com Group’s infrastructure and technology, loss of services of Trip.com Group’s key executives, adverse changes in economic and political policies of the PRC government, inflation in China, risks and uncertainties associated with PRC laws and regulations with respect to the ownership structure of Trip.com Group’s affiliated Chinese entities and the contractual arrangements among Trip.com Group, its affiliated Chinese entities and their shareholders, and other risks outlined in Trip.com Group’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the issuance, and Trip.com Group does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

About Non-GAAP Financial Measures

To supplement Trip.com Group’s unaudited condensed consolidated financial statements presented in accordance with United States Generally Accepted Accounting Principles ("GAAP"), Trip.com Group uses Non-GAAP financial information related to product development expenses, sales and marketing expenses, general and administrative expenses, income from operations, operating margin, net income attributable to Trip.com Group’s shareholders, and diluted earnings per ordinary share and per ADS, each of which (except for net commission earned) is adjusted from the most comparable GAAP result to exclude the share-based compensation charges recorded under ASC 718, "Compensation-Stock Compensation" and its share-based compensation charges are not tax deductible, and fair value changes of equity securities investments, net of tax, recorded under ASU 2016-1. Trip.com Group’s management believes the Non-GAAP financial measures facilitate better understanding of operating results from quarter to quarter and provide management with a better capability to plan and forecast future periods.

Non-GAAP information is not prepared in accordance with GAAP and may be different from Non-GAAP methods of accounting and reporting used by other companies. The presentation of this additional information should not be considered a substitute for GAAP results. A limitation of using Non-GAAP financial measures is that Non-GAAP measures exclude share-based compensation charges and fair value changes of equity securities investments that have been and will continue to be significant recurring expenses in Trip.com Group’s business for the foreseeable future.

Reconciliations of Trip.com Group’s Non-GAAP financial data to the most comparable GAAP data included in the consolidated statement of operations are included at the end of this press release.

About Trip.com Group Limited

Trip.com Group Limited (Nasdaq: TCOM) is a leading one-stop travel service provider consisting of Trip.com, Ctrip, Skyscanner, and Qunar. Across its platforms, Trip.com Group enables local partners and travelers around the world to make informed and cost-effective bookings for travel products and services, through aggregation of comprehensive travel-related information and resources, and an advanced transaction platform consisting of mobile apps, Internet websites, and 24/7 customer service centers. Founded in 1999 and listed on Nasdaq in 2003, Trip.com Group has become one of the largest travel companies in the world in terms of gross merchandise value.

Trip.com Group Limited

Unaudited Consolidated Balance Sheets

(In millions, except share and per share data)

December 31, 2019

June 30, 2020

June 30, 2020

RMB (million)

RMB (million)

USD (million)

(unaudited)

(unaudited)

(unaudited)

ASSETS

Current assets:

Cash, cash equivalents and restricted cash

21,747

18,896

2,674

Short-term investments

23,058

23,886

3,381

Accounts receivable, net 

7,661

5,129

726

Prepayments and other current assets 

15,489

15,583

2,205

Total current assets

67,955

63,494

8,986

Property, equipment and software

6,135

5,985

847

Intangible assets and land use rights

13,264

13,324

1,886

Right-of-use asset

1,207

795

113

Investments (Includes held to maturity time deposit and
financial products of RMB15,056 million and RMB21,538
million as of December 31,2019 and June 30, 2020,
respectively)

51,278

53,659

7,595

Goodwill

58,308

59,327

8,397

Other long-term assets

1,046

551

79

Deferred tax asset

976

1,360

193

Total assets

200,169

198,495

28,096

LIABILITIES

Current liabilities:

Short-term debt and current portion of long-term debt

30,516

42,097

5,958

Accounts payable

12,294

4,478

634

Advances from customers

11,675

8,013

1,134

Other current liabilities

14,697

11,969

1,695

Total current liabilities

69,182

66,557

9,421

Deferred tax liability

3,592

3,567

505

Long-term debt

19,537

28,067

3,973

Long-term lease liability

749

536

76

Other long-term liabilities

264

206

29

Total liabilities

93,324

98,933

14,004

MEZZANINE EQUITY

Redeemable non-controlling interests 

1,142

–

–

SHAREHOLDERS’ EQUITY

Total Trip.com Group Limited shareholders’ equity

103,442

97,529

13,804

Non-controlling interests

2,261

2,033

288

Total shareholders’ equity

105,703

99,562

14,092

Total liabilities, mezzanine equity and shareholders’
equity

200,169

198,495

28,096

 

 

Trip.com Group Limited

Unaudited Consolidated Statements of Comprehensive Income

(In millions, except share and per share data)

Quarter Ended

Quarter Ended

Quarter Ended

Quarter Ended

June 30, 2019

March  31, 2020

June 30, 2020

June 30, 2020

RMB (million)

RMB (million)

RMB (million)

USD (million)

(unaudited)

(unaudited)

(unaudited)

(unaudited)

Revenue:

Accommodation reservation 

3,410

1,155

1,254

178

Transportation ticketing 

3,407

2,393

1,150

163

Packaged-tour 

1,051

523

130

18

Corporate travel

309

126

162

23

Others

524

538

466

66

Total revenue

8,701

4,735

3,162

448

Less: Sales tax and surcharges

(10)

(4)

(3)

0

Net revenue

8,691

4,731

3,159

448

Cost of revenue

(1,798)

(1,220)

(872)

(123)

Gross profit

6,893

3,511

2,287

325

Operating expenses:

Product development **

(2,642)

(1,696)

(1,801)

(255)

Sales and marketing **

(2,108)

(1,382)

(661)

(94)

General and administrative **

(810)

(1,942)

(513)

(73)

Total operating expenses

(5,560)

(5,020)

(2,975)

(422)

Income/(loss) from operations

1,333

(1,509)

(688)

(97)

Interest income 

562

513

603

85

Interest expense

(426)

(448)

(461)

(65)

Other (expense)/income *

(1,412)

(3,827)

1,766

250

Income/(loss) before income tax expense and
equity in income of affiliates

57

(5,271)

1,220

173

Income tax (expense)/benefit  *

(336)

254

(201)

(29)

Equity in loss of affiliates

(123)

(321)

(1,491)

(211)

Net loss

(402)

(5,338)

(472)

(67)

Net loss attributable to non-controlling interests

7

9

12

2

Accretion to redemption value of redeemable non-
controlling interests

(8)

(24)

(16)

(2)

Net loss attributable to Trip.com Group Limited

(403)

(5,353)

(476)

(67)

Comprehensive loss attributable to Trip.com
Group Limited

(308)

(5,924)

(515)

(73)

Losses per ordinary share

– Basic

(5.81)

(71.86)

(6.36)

(0.90)

– Diluted

(5.81)

(71.86)

(6.36)

(0.90)

Losses per ADS 

– Basic

(0.73)

(8.98)

(0.80)

(0.11)

– Diluted

(0.73)

(8.98)

(0.80)

(0.11)

Weighted average ordinary shares outstanding

– Basic

69,484,264

74,494,148

74,968,727

74,968,727

– Diluted

69,484,264

74,494,148

74,968,727

74,968,727

– Diluted-non GAAP

77,807,991

74,494,148

74,968,727

74,968,727

** Share-based compensation included in Operating expenses above is as follows:

  Product development 

215

180

252

36

  Sales and marketing 

34

30

41

6

  General and administrative 

144

133

195

28

* Fair value changes of equity securities investments included in Net loss is as follow:

Fair value loss/(income) of equity securities
investments, net of tax

1,339

2,790

(1,167)

(165)

 

 

Trip.com Group Limited

Reconciliation of  GAAP and Non-GAAP Results

(In millions, except % and per share data)

Quarter Ended June 30, 2020

GAAP Result

% of Net
Revenue

Non-GAAP
Adjustment

% of Net
Revenue

Non-GAAP
Result

% of Net
Revenue

Share-based compensation included in Operating expense is as follows:

Product development 

(1,801)

-57%

252

8%

(1,549)

-49%

Sales and marketing 

(661)

-21%

41

1%

(620)

-20%

General and administrative 

(513)

-16%

195

6%

(318)

-10%

Total operating expenses

(2,975)

-94%

488

15%

(2,487)

-79%

(Loss)/income from operations

(688)

-22%

488

15%

(200)

-6%

Fair value changes of equity securities investments, net of tax
expense of RMB27 million

1,167

37%

(1,167)

-37%

–

0%

Net loss attributable to Trip.com Group’s shareholders

(476)

-15%

(679)

-21%

(1,155)

-37%

Diluted losses per ordinary share (RMB)

(6.36)

(9.06)

(15.42)

Diluted losses per ADS (RMB)

(0.80)

(1.13)

(1.93)

Diluted losses per ADS (USD)

(0.11)

(0.16)

(0.27)

Quarter Ended March 31, 2020

GAAP Result

% of Net
Revenue

Non-GAAP
Adjustment

% of Net
Revenue

Non-GAAP
Result

% of Net
Revenue

Share-based compensation included in Operating expense is as follows:

Product development 

(1,696)

-36%

180

4%

(1,516)

-32%

Sales and marketing 

(1,382)

-29%

30

1%

(1,352)

-29%

General and administrative 

(1,942)

-41%

133

3%

(1,809)

-38%

Total operating expenses

(5,020)

-106%

343

7%

(4,677)

-99%

(Loss)/income from operations

(1,509)

-32%

343

7%

(1,166)

-25%

Fair value changes of equity securities investments, net of tax
benefit of RMB209 million

(2,790)

-59%

2,790

59%

–

0%

Net (loss)/income attributable to Trip.com Group’s shareholders

(5,353)

-113%

3,133

66%

(2,220)

-47%

Diluted (losses)/earnings per ordinary share (RMB)

(71.86)

42.05

(29.81)

Diluted (losses)/earnings per ADS (RMB)

(8.98)

5.25

(3.73)

Diluted (losses)/earnings per ADS (USD)

(1.27)

0.74

(0.53)

Quarter Ended June 30, 2019

GAAP Result

% of Net
Revenue

Non-GAAP
Adjustment

% of Net
Revenue

Non-GAAP
Result

% of Net
Revenue

Share-based compensation included in Operating expense is as follows:

Product development 

(2,642)

-30%

215

2%

(2,427)

-28%

Sales and marketing 

(2,108)

-24%

34

0%

(2,074)

-24%

General and administrative 

(810)

-9%

144

2%

(666)

-8%

Total operating expenses

(5,560)

-64%

393

5%

(5,167)

-59%

Income from operations

1,333

15%

393

5%

1,726

20%

Fair value changes of equity securities investments, net of tax
benefit of RMB48 million

(1,339)

-15%

1,339

15%

–

0%

Net (loss)/income attributable to Trip.com Group’s shareholders

(403)

-5%

1,732

20%

1,329

15%

Diluted (losses)/earnings per ordinary share (RMB)

(5.81)

23.81

18.00

Diluted (losses)/earnings per ADS (RMB)

(0.73)

2.98

2.25

Diluted (losses)/earnings per ADS (USD)

(0.11)

0.44

0.33

Notes for all the condensed consolidated financial schedules presented:

Note 1: The conversion of Renminbi (RMB) into U.S. dollars (USD) is based on the certified exchange rate of USD1.00=RMB7.0651 on June 30, 2020 published by the
Federal Reserve Board.

 

Related Links :

https://www.ctrip.com/

PR Newswire

Ultromics Lauded by Frost & Sullivan for Pioneering AI-based Cardiovascular Suite, EchoGo

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The SaaS suite helps physicians automate key measurements and predict the occurrence of CAD, enabling clinicians to proactively recommend preventive actions that improve patient outcomes

LONDON, Sept. 25, 2020 — Based on its recent analysis of the global AI-based echocardiography market, Frost & Sullivan recognizes Ultromics with the 2020 Global New Product Innovation Award for enhancing diagnostic quality in cardiac care units with its AI suite, EchoGo. The FDA and CE-cleared solutions (respectively EchoGo Core and EchoGo Pro) not only automate measurements for heart functions but also empower physicians to predict the occurrence of coronary artery disease (CAD). With a cloud-based Software-as-a-Service (SaaS) format, they enable quick deployment, minimal training, and hassle-free upgrades.

2020 Global AI-based Echocardiography New Product Innovation Award
2020 Global AI-based Echocardiography New Product Innovation Award

Click here to download the full report: https://ultromics.com/best-practices-award/

"Ultromics’ EchoGo Core performs cardiac measurements, including ejection fraction (EF), global longitudinal strain (GLS), left ventricular (LV) volume, and myocardial strain reporting. By automating these measurements, Ultromics eases one of the most tedious steps in cardiovascular conditions’ diagnosis, thus saving time and removing inter-operator variability," said Parth Shah Research Analyst. "Meanwhile, EchoGo Pro serves as a clinical decision support tool for physicians by assessing the risk profiles of patients. As an industry-first solution within cardiac echocardiography, it enables early detection and prevention of CAD supported by evidence at the point of care."

Furthermore, being a cloud-based solution, it can be delivered as a SaaS model, which allows deployments to be completed faster than with traditional PACS software integrations. The SaaS model also does away with the need for future upgrades, patches, and associated fees. The solution is designed to be intuitive, minimizing the need for substantial user training required by other solutions. Once usage begins, it employs a zero-click, off-the-cart usage approach, eliminating the need for users to manually upload or cross-launch scans.

Being a vendor-neutral solution, Ultromics can target any provider, regardless of the echocardiography equipment they use, across regions. While the EchoGo solutions are currently available in the western markets, Ultromics will target the Asia-Pacific market in the future. Its adoption in developed markets received a major boost in 2020 when the Strain procedure obtained a CPT code that allows physicians to report and bill myocardial strain diagnosis. It is also one of the very few AI solutions in the imaging space to qualify for reimbursement.

"EchoGo’s pricing structure delivers significant return on investment with no upfront costs. While competitors offer comparable price points, their need for additional software upgrades and associated installation costs and efforts make them more expensive in the long term. Ultromics adopts a pay-per-use pricing model but can also offer a subscription model depending on the volume of procedures being conducted," noted Shah. "EchoGo automates the entire process, allowing physicians to save on costs while having zero user interactions to obtain results. Overall, Ultromics’ price-value proposition helps it capture a larger share of the market and positions it for continued growth globally."

Each year, Frost & Sullivan presents this award to the company that has developed an innovative element in a product by leveraging leading-edge technologies. The award recognizes the value-added features/benefits of the product and the increased return on investment (ROI) it gives customers, which, in turn, raises customer acquisition and overall market penetration potential.

Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.

About Frost & Sullivan

For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Contact:
Harley Gadomski
P: 12104778469
E: harley.gadomski@frost.com

About Ultromics

Ultromics is a global health technology firm which provides autonomous echocardiography analysis through innovative AI solutions empowering physicians to make fast, accurate decisions when diagnosing cardiovascular disease. EchoGo, the world’s first autonomous echocardiography service provides cloud-based artificial intelligence services to support cardiac imaging diagnosis without any variability or need to touch software. Our technology was born at the University of Oxford and built in partnership with the NHS, and has since raised over £20 million to help improve patient care, and bring diagnostic quality and resource savings to hospitals. Cardiovascular disease is the leading cause of mortality, with an estimated 17 million deaths each year. www.ultromics.com

CONTACT:       
Kyle Souligne
Director of Marketing – Ultromics
Kyle.Souligne@Ultromics.com 

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PR Newswire

Huawei Strives to Build industry Intelligent Twins with Intelligent Connectivity

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SHANGHAI, Sept. 24, 2020 — At HUAWEI CONNECT 2020, Huawei announced its all-scenario intelligent connectivity solutions for technology, network, and industry scenarios. These solutions will help Huawei deliver intelligent connectivity that is characterized by ubiquitous gigabit, deterministic experience, and hyper-automation in order to build industry Intelligent Twins. Huawei also launched autonomous driving network (ADN) solutions for enterprises, propelling enterprise networks into the ADN era and accelerating the intelligent upgrades of industries.

David Wang, Huawei Executive Director and Chairman of the Investment Review Board, delivered a keynote speech titled "Building industry Intelligent Twins with intelligent connectivity." According to Mr. Wang, connectivity is productivity. It is not mere computing power, but strong connectivity that makes Intelligent Twins smarter.

Huawei believes that ubiquitous gigabit, deterministic experience, and hyper-automation are the three major characteristics of intelligent connectivity.

David Wang, Huawei Executive Director and Chairman of the Investment Review Board, announces all-scenario intelligent connectivity solutions
David Wang, Huawei Executive Director and Chairman of the Investment Review Board, announces all-scenario intelligent connectivity solutions

Intelligent Twins raise five new requirements for connectivity

The four key components of Intelligent Twins are intelligent interactions, intelligent connectivity, intelligent applications, and the intelligent hub. Among these, intelligent connectivity is like the body of Intelligent Twins. What new requirements do Intelligent Twins place on intelligent connectivity?

There are three types of connectivity scenarios for Intelligent Twins. One is connectivity within the intelligent hub, such as the connection of AI cluster servers and cloud data centers. The second is connectivity between the intelligent hub and intelligent interaction devices; connecting the "brain" and the "limbs", so to speak. The last type is connectivity between intelligent interaction devices, such as the connection of AI cameras, 4K drones, and robotic arms.

Overall, Intelligent Twins have five major requirements for connectivity: High reliability, zero packet loss, differentiated services, real-time high bandwidth, and smart O&M.

To meet the connectivity needs of Intelligent Twins, Huawei defined the three major characteristics of intelligent connectivity:

The first is ubiquitous gigabit. Bandwidth is the basis of connectivity. The wide application of AI cameras, drones, industrial cameras, and industrial VR/AR services has made ubiquitous gigabit connectivity essential.

The second is deterministic experience. Connectivity for Intelligent Twins mainly targets things and diverse production scenarios. For example, during peak times in 2019, there was one aircraft departing or arriving at Shenzhen Airport every less than one minute, making it essential to guarantee real-time networking. In another example, electric power companies must assure "six nines", or even higher reliability, and less than two minutes of power outage per household per year. Therefore, deterministic connectivity is vital to the security and reliability of enterprise services.

The third is hyper-automation. As industries become intelligent, the service types as well as scale and complexity of networks will multiply, making network O&M more difficult. The application of big data and AI will transform traditional and semi-automated O&M into hyper-automated O&M, and leave all these complexities to be handled by digital intelligence.

Huawei’s all-scenario intelligent connectivity solutions

In terms of technology, Huawei’s all-scenario intelligent connectivity solutions will provide ubiquitous gigabit and low latency connectivity for intelligent interaction devices, and apply AI to achieve deterministic network experience and hyper-automated O&M. In terms of networks, these solutions will provide Intelligent Twins with campus, data center, WAN, and security networks. As for industries, intelligent connectivity will be combined with intelligent interactions, the intelligent hub, and industry know-how to build scenario-specific, intelligent solutions for industries.

  • 5G intelligent connectivity: Gigabit uplink speed, 20ms latency, and submeter-level location

To support the intelligent upgrade of industries, Huawei will continue enhancing its 5G intelligent connectivity capabilities in terms of uplink bandwidth, latency, and location accuracy. For example, in the smart manufacturing domain, Huawei used its Super Uplink technology to provide gigabit uplink speeds for HD video uploads. For scenarios that require remote operation and control, such as ports, Huawei’s 5G intelligent connectivity technology has introduced features such as pre-scheduling and mini-slot to reduce latency to 20ms and replace 90% of manual labor with automated operations. Thanks to UTDOA and higher bandwidth, Huawei’s 5G intelligent connectivity can support submeter-level location accuracy for smart manufacturing, enhancing the efficiency of production and management at industrial parks.

  • Intelligent IP networks: High bandwidth and lossless for all services

Based on a three-layer AI architecture comprised of network elements, networks, and clouds, Huawei’s intelligent IP networks facilitate the upgrade of campus, WAN, and data center networks to Version 2.0.

Huawei’s CloudCampus 2.0 solution takes campus networks into the gigabit era, providing any application with gigabit connectivity via any device and allowing the intelligent scheduling of network resources. The CloudWAN 2.0 solution brings intelligence to WAN networks. With CloudWAN 2.0, synergy can be achieved between clouds and networks, meeting the needs for differentiated services. CloudFabric 2.0 enables zero packet loss in data center networks and increases both AI compute and storage efficiency by over 30%, helping data center networks become intelligent.

  • F5G intelligent all-optical networks: High bandwidth interconnection and flexible pipes

Huawei has proposed the all-optical network strategy for the F5G era, and launched three intelligent all-optical network solutions.

The first is the Campus OptiX solution. Campus OptiX offers high bandwidth access to meet campus needs for new services such as 4K cameras and VR/AR.

The second is Single OptiX. This solution can meet transmission needs at different rates while greatly increasing efficiency.

The third is DC OptiX. IT staff can deploy DC OptiX with just one click, making it a plug-and-play solution for enterprise scenarios.

Through this strategy, Huawei is committed to extending optical connectivity to the network edge, and bringing the ultimate service experience to every person, home and organization.

Huawei’s ADN solutions target enterprises

Huawei’s ADN solutions bring intelligence to networks. By integrating AI into network elements, networks, and clouds, Huawei’s ADN networks are self-organizing, self-healing, and self-optimizing. These solutions will make digital industry services and hyper-automated operations a reality.

Network elements + AI: AI is applied to upgrade traditional network elements into digital, intelligent network elements, allowing for more agile data sensing and processing of every network element.

Network + AI: Huawei uses AI to redefine network management. The intelligent management and control system helps build network digital twins, and enables the dynamic control and closed-loop management of networks, such as automatic deployment, pre-event simulation, post-event verification, prediction and prevention, and proactive optimization.

Cloud + AI: Huawei provides cloud-based AI training and model services for networks, and continues upgrading the software systems and AI models that are already embedded into its equipment and networks. This constantly improves autonomous driving networks and makes networks smarter.

Huawei’s customers from Shenzhen Airport, China Southern Power Grid, and SPD Bank shared the application of Huawei intelligent connectivity across the transportation, electricity, and finance sectors.

Mr. Wang concluded his speech by saying: "Over the past 40 years, Huawei has worked with all stakeholders to connect the unconnected and build a fully connected world. Over the next 40 years, we are committed to building industry Intelligent Twins with intelligent connectivity."

HUAWEI CONNECT 2020 is an annual flagship event hosted by Huawei for the global ICT industry, and is being held in Shanghai from September 23 to 26, 2020. HUAWEI CONNECT is an open platform designed to help our customers and partners navigate these changes, share experience, and work together to create new value. At this year’s event, we will explore trends and opportunities in industry digitization; showcase advanced ICT technologies, products, and solutions; give you an insider’s look at the fruits of joint innovation; and share best practices in digital transformation. Our ultimate goal is to build an open and sound industry ecosystem that will benefit all stakeholders and create new value for all industries. For more information, please visit:

https://www.huawei.com/en/events/huaweiconnect2020/

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Fisker Inc. To Establish New Technology Center In San Francisco

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 – ‘Source Code’ office will support design and engineering of software systems to support the Fisker Ocean SUV and future portfolio expansion products

 – Downtown San Francisco location configured to enable employees to work flexibly between remote and office bases

LOS ANGELES, Sept. 24, 2020 — Fisker Inc. – designer and manufacturer of the world’s most emotion-stirring, eco-friendly electric vehicles and advanced mobility solutions – today announced details surrounding its first dedicated engineering and technology center, to be located in the Mission District of San Francisco. This facility will be the focal point and development center for the company’s software and vehicle electronics, including both in-car and Fisker data center elements.

"With the development of our first vehicle progressing at speed and the company scaling accordingly, we are now establishing the facilities that can support our expansion," said Henrik Fisker, chairman and CEO of Fisker Inc. "As a company born in California, we wanted to draw on all the diversity, creativity and technical capability this state is famous for. We’re calling the San Francisco office ‘Source Code’ – which also marks the start of a naming convention for all our facilities going forward."

Fisker Inc.’s recently appointed Chief Technology Officer, Burkhard Huhnke added: "The design and development of the software and vehicle interfaces will be an important differentiator for all our products, and our new facility in San Francisco will be central to that process. Having a presence in the Bay Area gives us access to the right talent at the right time."

Fisker is planning a portfolio expansion to a four-vehicle range by 2025. In addition to the Ocean SUV, the four-vehicle lineup will include a super-sports sedan based on the EMotion concept, an extreme sports crossover and a new segment-changing lifestyle pickup truck. Each vehicle will be delivered utilizing durability-tested platforms, battery packs and component systems from industry-leading technology suppliers and automotive firms, with specific Fisker engineering input.

Fisker’s Design and Engineering teams are developing Fisker specific IP and customer features, consistent with the Fisker brand. In creating its FF-PAD (Fisker Flexible – Platform Adaptive Design) development process, the company has enabled itself to be platform agnostic and intends to make the final selection on the platform for the Ocean shortly, consistent with the intended start of production, projected for Q4 2022.

For more information, or for interview inquiries, contact Fisker@GoDRIVEN360.com.

About Fisker Inc. 
California-based Fisker Inc. is revolutionizing the automotive industry by developing the most emotionally desirable and eco-friendly electric vehicles on Earth. Passionately driven by a vision of a clean future for all, the company is on a mission to become the No. 1 e-mobility service provider with the world’s most sustainable vehicles. To learn more, visit www.FiskerInc.com – and enjoy exclusive content across Fisker’s social media channels: Facebook, Instagram, Twitter, YouTube and LinkedIn. Download the revolutionary new Fisker mobile app from the App Store or Google Play store.

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Challenge Student’s Creativity with Learning at Karl and Johan Experimental Schools

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HSINCHU, Sept. 24, 2020 — With the transformation of school curriculum underway, the way students learn are becoming more diverse and internationalized. The 108-curriculum set by the Ministry of Education allows educators to select various learning methods freely to invigorate the rigid education system in Taiwan. With an aim to provide innovative classes for students, Karl International Experimental Education Institute and Johan International Experimental Education Institute adopt creative and effective class designs, and deliver those classes with experienced teachers from around the globe. Through hands-on learning, students are encouraged to thinking critically, develop problem-solving skills, and embrace diversity.

Over the summer Karl and Johan Schools in Zhubei, Hsinchu offered 3 summer camps that were sold-out and highly praised by parents and students alike. Bilingual classes were designed and carried out by local Taiwanese teachers and foreign teachers together in order to provide a comprehensive learning experience that connects different aspects on a given topic. Not only can students immerse in amusing themes, but also learn effectively in different academic areas. The first summer camp, held at Karl, centered around artificial intelligence (AI) and Python in the morning, followed by culture and science in the afternoon. The second summer camp was held at Johan elementary and allowed children from grades 1 to 6 to travel the world and visit ancient empires like ancient Egypt and China. Children were also able to make and enjoy different cuisines from around the globe. The third and final summer camp combined English speaking classes that focuses on topics like music, movies, and TV in the morning, with equestrian classes every afternoon for two weeks.

Over the summer Karl and Johan Schools in Zhubei, Hsinchu offered 3 summer camps that were sold-out and highly praised by parents and students alike. Bilingual classes were designed and carried out by local Taiwanese teachers and foreign teachers together in order to provide a comprehensive learning experience that connects different aspects on a given topic. Not only can students immerse in amusing themes, but also learn effectively in different academic areas.
Over the summer Karl and Johan Schools in Zhubei, Hsinchu offered 3 summer camps that were sold-out and highly praised by parents and students alike. Bilingual classes were designed and carried out by local Taiwanese teachers and foreign teachers together in order to provide a comprehensive learning experience that connects different aspects on a given topic. Not only can students immerse in amusing themes, but also learn effectively in different academic areas.

Jessica W. (Parent): "This was the first time my child joined Johan’s summer camp. She came home happy everyday, and told us about the vocabulary, maker, art, music, cooking classes she had each day, not to mention the many new friends she has made in school. Thanks to Karl and Johan Experimental Education for their dedication, they truly are a different school.

Parents: "The classes are fulfilling and interesting. Students were motivated to learn, and they truly learn as they play. Teachers were passionate. We love it!"

Student: "The classes were exciting, unlike the other summer camp out there. It was fun!"

The bilingual summer camps at Karl and Johan schools had been carefully designed to offer hands-on learning experiences and arouse students’ passion in learning. Experienced teachers from 15 different countries regularly participates in course development sessions to design teaching materials. During the regular school year, Karl school also offer different pathways that students can take to continue their undergraduate studies locally and internationally. They believe students can learn effectively only if they become self-motivated and passionate about learning. Education is no longer just a one-way street; through the help of experimental schools in Taiwan, teaching becomes more flexible, and students become independent learners.

Photo – https://photos.prnasia.com/prnh/20200924/2927581-1?lang=0

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Panchshil Realty Celebrates Strong Sales Growth at Its Flagship Residential Project-Panchshil Towers, Pune

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PUNE, India, Sept. 24, 2020 — Panchshil Realty today announced that it has achieved strong sales growth and seen excellent demand for its flagship residential project Panchshil Towers, located in Pune’s eastern IT corridor.

Panchshil Towers Clubhouse Render
Panchshil Towers Clubhouse Render

To view the Multimedia News Release, please click:  https://www.multivu.com/players/uk/8769551-panchshil-realty-sales-at-panchshil-towers/

Over the last year, sales at Panchshil Towers have seen encouraging double-digit growth in the domestic market and sales to NRIs have tripled. The sales momentum has in fact picked up post the onset of the pandemic as discerning home buyers are now seeking spacious and well planned homes.

Panchshil Towers’ proximity to Kharadi is one of the many key drivers of sales growth. Over the next 3 to 5 years the total office stock at Kharadi is expected to reach 24 Million Sq Ft with 3,50,000 people expected to work there.

Panchshil Towers is a premium residential destination comprising 9 towers spread over 14 acres with 60% open spaces.  3.5 and 4.5 bedroom-hall-kitchen (BHK) residences are available here with typical apartments ranging in size from 1900 square feet to 2200 square feet (all areas are RERA carpet areas). (MahaRERA No. P52100002528)

Towers A, B, D & E are ready-to-move-in. Apartments at Panchshil Towers (Towers A, B, D & E) start at INR 2.45* Cr. while apartments in the other towers start at INR 1.93 Cr.

Sharing his insights on the sales trends of Panchshil Towers, Mr. Sagar Chordia, Director, Panchshil Realty said, "There has been an increase in demand for larger homes and families want spacious homes to be safe and comfortable post the pandemic. Besides, buyers are increasingly choosing ready-to-move-in homes to fulfill their aspirations for better living in a community setting."

To know more about Panchshil Towers, please click here

Panchshil Realty’s total completed real estate portfolio is around 23 million square feet with another 20 million square feet under development. Panchshil Realty’s three main business verticals are Residential, Commercial and Hospitality. A significant chunk of Panchshil Realty’s office portfolio is anchored by Blackstone Real Estate Private Equity Fund, sponsored and managed by Blackstone Group LP.For more information about Panchshil Realty, please visit www.panchshil.com

For sales enquires related to Panchshil Towers, Pune, please contact Himanshu Rathore on +91-99230-55555 or via email at Himanshu.rathore@panchshil.com

For more detailed disclaimers about Panchshil Towers, please click here.

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ADVANTAGE KHARADI
ADVANTAGE KHARADI

 

KEY DRIVERS Influencing buyers' preference for Panchshil Towers.
KEY DRIVERS Influencing buyers’ preference for Panchshil Towers.

 

Highlight of Sales Trends at PANCHSHIL TOWERS
Highlight of Sales Trends at PANCHSHIL TOWERS

 

 

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PR Newswire

Picosun’s ALD technology boosts UVC LED performance

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ESPOO, Finland, Sept. 24, 2020 — Picosun Group, the leading supplier of AGILE ALD® (Atomic Layer Deposition) thin film coating technology, reports excellent results in UVC (ultraviolet-C) LED performance, achieved with the company’s ALD solutions.

Excellent reliability and lifetime improvements of UVC LEDs have been obtained at Picosun’s customer and collaboration partner site, National Chiao Tung University (NCTU), Taiwan, using passivation and barrier films deposited with PICOSUN® ALD equipment(*). ALD passivation layer could potentially replace the expensive hermetic seal package of the LEDs and thus lower the costs of the final device.

"We have used Picosun’s ALD technology already for years with great success. Our PICOSUN® ALD equipment yields superior quality films which has helped us to achieve several breakthroughs in our LED research. Picosun has local presence in Taiwan and we appreciate the prompt response of their customer support if we ever have any issues. At the phase when R&D results are to be ramped up to industrial-level production, the scalability of Picosun’s ALD technology is a huge benefit," comments Professor Hao-Chung Kuo from NCTU.

In order to reach maximum light output and long operating lifetime, LED chips require surface passivation to eliminate parasitic currents caused by traps and defects. Also barrier coating is typically needed as LED materials are sensitive to moisture. ALD is an ideal technique to manufacture both the passivation and barrier films – and when the LED size diminishes to micrometer dimensions, the only coating method capable of producing high enough quality films on the required minuscule scale. Ultra-thin, pinhole-free ALD films do not suppress the LED light intensity and they provide reliable protection against ambient conditions, whereas their superior conformality ensures no thickness variations between the facets of the LED chip. Thickness variations, typical side effect of other coating methods, can potentially lead to uneven distribution of film stress or thermal expansion behavior and risk physical damage of the chip.

Short-wavelength UVC radiation destroys bacteria and viruses so UVC LED technology is particularly topical now during the still ongoing COVID-19 pandemic. Small, lightweight LEDs enable versatile design of portable, compact disinfecting equipment, they consume less power than other UVC sources, they are durable, and they pose no risk of hazardous material leaks such as e.g. mercury lamps.

"We are happy of the achievements of Professor Kuo’s group at NCTU, and how Picosun’s ALD technology has helped them to achieve their goals in UVC LED development. Our long-term collaboration and networking with both the academia and prominent industries in this field gives us the perfect synergy advantage to facilitate implementation of these solutions in industrial manufacturing," says Mr. Edwin Wu, CEO of Picosun Asia Pte. Ltd.

(*) UVC LED with 50 nm ALD Al2O3 passivation and normal LED packaging (no hermetic seal) maintained 80% of its original efficiency even after 500 hours environmental test at 85% humidity and 85 oC temperature.

Picosun provides the most advanced AGILE ALD® (Atomic Layer Deposition) thin film coating solutions for global industries. Picosun’s ALD solutions enable technological leap into the future, with turn-key production processes and unmatched, pioneering expertise in the field – dating back to the invention of the technology itself. Today, PICOSUN® ALD equipment are in daily manufacturing use in numerous leading industries around the world. Picosun is based in Finland, with subsidiaries in Germany, USA, Singapore, Taiwan, China, Korea and Japan, offices in India and France, and a world-wide sales and support network. Visit www.picosun.com.

More information:

Mr. Edwin Wu
CEO, Picosun Asia Pte. Ltd.
Tel: +358 40 480 3449
Email: info@picosun.com
Web: www.picosun.com 

CONTACT:

Minna Toivola
D.Sc., Marketing Manager, Picosun Oy
Email: minna.toivola@picosun.com
Tel: +358 40 758 8748

 

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Picosun’s ALD technology boosts UVC LED performance