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Yiren Digital Reports First Quarter 2020 Financial Results

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BEIJING, June 24, 2020 — Yiren Digital Ltd. (NYSE: YRD) (“Yiren Digital” or the “Company”), a leading fintech company in China, today announced its unaudited financial results for the first quarter ended March 31, 2020.

First Quarter 2020 Operational Highlights

Wealth Management—Yiren Wealth

  • Cumulative number of investors served reached 2,218,181 as of March 31, 2020, representing an increase of 0.3% from 2,210,530 as of December 31, 2019 and compared to 2,159,771 as of March 31, 2019.
  • Number of current investors was 220,568 as of March 31, 2020, representing a decrease of 10.5% from 246, 561 as of December 31, 2019.
  • Number of current non-P2P investors was 26,346 as of March 31, 2020, representing an increase of 23.3% from 21,360 as of December 31, 2019 and compared to 19,236 as of March 31, 2019.
  • Total assets under administration (“AUA”) for P2P products on Yiren Wealth was RMB 30,536.4 million (US$ 4,312.6 million) as of March 31, 2020, representing a decrease of 10.9% from RMB 34,264.8 million as of December 31, 2019, and compared to RMB 46,236.7 million as of March 31, 2019. 
  • Total AUA for non-P2P products on Yiren Wealth was RMB 1,713.1 million (US$241.9 million) as of March 31, 2020, representing an increase of 66.8% from RMB 1,026.9 million as of December 31, 2019 and compared to RMB 424.9 million as of March 31, 2019.
  • Sales volume of non-P2P products amounted to RMB 2,163.3 million (US$ 305.5 million) in the first quarter of 2020, representing a decrease of 15.1% from RMB 2,548.4 million in the fourth quarter of 2019 and compared to RMB 328.7 million in the same period of 2019.

Consumer Credit—Yiren Credit

  • Total loan originations in the first quarter of 2020 reached RMB 1.8 billion (US$0.3 billion), representing a decrease of 77.0% from RMB 8.0 billion in the fourth quarter of 2019 and compared to RMB 10.9 billion in the first quarter of 2019.
  • Cumulative number of borrowers served reached 4,810,184 as of March 31, 2020, representing an increase of 2.4% from 4,695,487 as of December 31, 2019 and compared to 4,405,115 as of March 31, 2019.
  • Number of borrowers served in the first quarter of 2020 was 115,420, representing a decrease of 8.1% from 125,622 in the fourth quarter of 2019 and compared to 149,715 in the first quarter of 2019.
  • The percentage of loan volume generated by repeat borrowers was 4.9% in the first quarter of 2020.
  • 51.4% of loan originations were generated online in the first quarter of 2020.
  • Total outstanding principal balance of performing loans reached RMB 42,063.0 million (US$ 5,940.4 million) as of March 31,2020, representing a decrease of 17.8% from RMB 51,157.3 million as of December 31, 2019.

“During this unprecedented time, our core businesses remained stable while we made substantial progress to diversify and enrich our business lines as we continue our business transformation into China’s leading digital financial service platforms for consumers.” said Mr. Ning Tang, Chairman and Chief Executive Officer of Yiren Digital. “We are making good progress in expanding our creditech business with new products and services and through rapidly ramping up institutional funding. Meanwhile, our wealth management has seen strong growth despite the pandemic situation, especially for non-P2P wealth management products and services.

“For credit business, we have rolled out a series of new products to provide a full spectrum of credit services and meet broader needs for mainstream consumers’ daily financing, including small-ticket-shorter-tenor loans, auto loans and SME loans. For the micro and small loans, we launched our products and services partnering with online consumption platforms. To fully leverage our nationwide service network coverage, we have rolled out auto loans targeted at second-handed cars, and the business has shown encouraging early growth momentum.”

“On the wealth management front, non-P2P products are increasingly popular among investors and have seen strong growth. As of March 31, 2020, the total AUA for non-P2P products on Yiren Wealth grew to RMB 1,713.1 million, representing a 66.8% quarter-over-quarter growth and 303.2% year-over-year growth. Particularly we see strong demand of our fund products during the first quarter, with a 56.8% quarter-over-quarter growth of AUA driven by our new product offerings and also customers’ strong demand, we expect this growth trends to continue through the year.”

“Under the challenging operating environment amid the pandemic in the first quarter of 2020, we maintained strong liquidity and profitability,” said Mr. Zhong Bi, Chief Financial Officer of Yiren Digital. “Despite significant business volume drop during the quarter, our strong cost control and operation efficiency efforts have kept our business at a profit and good cash position. Our cash and cash equivalents remained stable at RMB 3.2 billion. Our usable cash maintained at a healthy level at RMB 3.6 billion and we believe we are on solid footing in the dynamic environment.”

“For credit performance and the risk management, overall, early delinquencies increased in the first quarter and reached its peak at the end of March due to the pandemic situation before it quickly declined in April and returned to near pre-pandemic level in May.” said Mr. Michael Ji, Chief Risk Officer of Yiren Digital. “Visible progress has been made in prioritizing our business toward higher-quality customers, which was reflected in risk performance and we are glad to see essential improvement trend in 2019 and we expect a more substantially improved trend in 2020.”

First Quarter 2020 Financial Results

Total amount of loans facilitated in the first quarter of 2020 was RMB 1,839.5 million (US$259.8 million), compared to RMB 10,934.9 million in the same period last year. As of March 31, 2020, the total outstanding principal amount of the performing loans was RMB 42.1 billion (US$5.9 billion), decreased by 17.8% from RMB 51.2 billion as of December 31 2019.

Total net revenue in the first quarter of 2020 was RMB 1,023.7 million (US$144.6 million), compared to RMB 1,980.4 million in the same period last year. Revenue from Yiren Credit reached RMB 607.8 million (US$ 85.8 million), representing a decrease of 58.3% from RMB 1,459.0 million in the first quarter of 2019. Revenue from Yiren Wealth reached RMB 415.9 million (US$58.7 million), representing a decrease of 20.2% from RMB 521.4 million in the first quarter of 2019.

Sales and marketing expenses in the first quarter of 2020 were RMB 616.4 million (US$87.1 million), compared to RMB 1,127.9 million in the same period last year. Sales and marketing expenses in the first quarter of 2020 accounted for 33.5% of the total amount of loans facilitated, as compared to 10.3% in the same period last year mainly due to the decline of loan volume.

Origination and servicing costs in the first quarter of 2020 were RMB 102.9 million (US$14.5 million), compared to RMB 172.1 million in the same period last year. Origination and servicing costs in the first quarter of 2020 accounted for 5.6% of the total amount of loans facilitated, compared to 1.6% in the same period last year due to the decline of loan volume.

General and administrative expenses in the first quarter of 2020 were RMB 149.0 million (US$21.0 million), compared to RMB 257.7 million in the same period last year. General and administrative expenses in the first quarter of 2020 accounted for 14.6% of the total net revenue, compared to 13.0% in the same period last year.

Allowance for contract assets and receivables in the first quarter of 2020 were RMB 143.4 million (US$20.3 million), compared to RMB 191.1 million in the same period last year.

Income tax expense in the first quarter of 2020 was RMB 3.9 million (US$0.6 million).

Net income in the first quarter of 2020 was RMB 19.2 million (US$2.7 million), compared to RMB 369.1 million in the same period last year. 

Adjusted EBITDA (non-GAAP) in the first quarter of 2020 was RMB 29.8 million (US$4.2 million), compared to an adjusted EBITDA of RMB 469.0 million in the same period last year. Adjusted EBITDA margin[1] (non-GAAP) in the first quarter of 2020 was 2.9%, compared to 23.7% in the same period last year.

Basic income per ADS in the first quarter of 2020 was RMB 0.21 (US$0.03), compared to a basic income per ADS of RMB 3.99 in the same period last year.

Diluted income per ADS in the first quarter of 2020 was RMB 0.21 (US$0.03), compared to a diluted income per ADS of RMB 3.96 in the same period last year.

Net cash generated from operating activities in the first quarter of 2020 was RMB 557.8 million (US$78.8 million), compared to net cash used in operating activities of RMB 658.4 million in the same period last year.

Net cash used in investing activities in the first quarter of 2020 was RMB 524.5 million (US$74.1 million), compared to RMB 249.9 million in the same period last year.

As of March 31, 2020, cash and cash equivalents was RMB 3,195.0 million (US$451.2 million), compared to RMB 3,198.1 million as of December 31, 2019. As of March 31, 2020, the balance of held-to-maturity investments was RMB 4.4 million (US$0.6 million), compared to RMB 6.6 million as of December 31, 2019. As of March 31, 2020, the balance of available-for-sale investments was RMB 456.1 million (US$64.4 million), compared to RMB 461.0 million as of December 31, 2019.

Delinquency rates. As of March 31, 2020, the delinquency rates for loans that are past due for 15-29 days, 30-59 days and 60-89 days were 1.6%, 4.1%, and 3.2%, respectively compared to 1.2%, 2.0%, and 1.7%,as of December 31, 2019. 

Cumulative M3+ net charge–off rates. As of March 31, 2020, the cumulative M3+ net charge-off rate for loans originated in 2017 was 16.5%, compared to 16.0% as of December 31, 2019. As of March 31, 2020, the cumulative M3+ net charge-off rate for loans originated in 2018 was 15.8%, compared to 13.8% as of December 31, 2019. As of March 31, 2020, the cumulative M3+ net charge-off rate for loans originated in 2019 was 5.2%, compared to 3.1% as of December 31, 2019.

[1] Adjusted EBITDA margin is a non-GAAP financial measure calculated as adjusted EBITDA divided by total net revenue.

Accounting Policy Change

Effective January 1, 2020, the Company adopted ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. This guidance replaces the existing “incurred loss” methodology, and introduces a forward-looking expected loss approach referred to as a current expected credit losses (“CECL”) methodology. Under the incurred loss methodology, credit losses are recognized only when the losses are probable of having been incurred. The CECL methodology requires that the full amount of expected credit losses for the lifetime be recorded at the time the financial asset is originated or acquired, and adjusted for changes in expected lifetime credit losses subsequently, which requires earlier recognition of credit losses.

The CECL methodology is applicable to estimation of credit losses of financial assets measured at amortized cost, primarily including accounts receivable, contract assets, financing receivables and other receivables. As a result, the Company recognized the cumulative effect as a decrease of approximately RMB 26.1 million to the opening balances of accumulated deficit on January 1, 2020.

Non-GAAP Financial Measures

In evaluating the business, the Company considers and uses several non-GAAP financial measures, such as adjusted EBITDA and adjusted EBITDA margin as supplemental measures to review and assess operating performance. We believe these non-GAAP measures provide useful information about our core operating results, enhance the overall understanding of our past performance and prospects and allow for greater visibility with respect to key metrics used by our management in our financial and operational decision-making. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The non-GAAP financial measures have limitations as analytical tools. Other companies, including peer companies in the industry, may calculate these non-GAAP measures differently, which may reduce their usefulness as a comparative measure. The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating our performance. See “Operating Highlights and Reconciliation of GAAP to Non-GAAP measures” at the end of this press release.

Currency Conversion

This announcement contains currency conversions of certain RMB amounts into US$ at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to US$ are made at a rate of RMB 7.0808 to US$1.00, the effective noon buying rate on March 31, 2020, as set forth in the H.10 statistical release of the Federal Reserve Board.

Conference Call

Yiren Digital’s management will host an earnings conference call at 8:00 p.m. U.S. Eastern Time on June 23, 2020 (or 8:00 a.m. Beijing/Hong Kong Time on June 24, 2020).

Participants who wish to join the call should register online in advance of the conference at:

http://apac.directeventreg.com/registration/event/2773237

Please note the Conference ID number of 2773237

Once registration is completed, participants will receive the dial-in information for the conference call, an event passcode, and a unique registrant ID number. 

Participants joining the conference call should dial-in at least 10 minutes before the scheduled start time.

A replay of the conference call may be accessed by phone at the following numbers until July 1, 2020:

International

+61 2-8199-0299

U.S.

+1 646-254-3697

Replay Access Code:

2773237

Additionally, a live and archived webcast of the conference call will be available at ir.yirendai.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “target,” “confident” and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Yiren Digital’s control. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to Yiren Digital’s ability to attract and retain borrowers and investors on its marketplace, its ability to introduce new loan products and platform enhancements, its ability to compete effectively, PRC regulations and policies relating to the peer-to-peer lending service industry in China, general economic conditions in China, and Yiren Digital’s ability to meet the standards necessary to maintain listing of its ADSs on the NYSE or other stock exchange, including its ability to cure any non-compliance with the NYSE’s continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in Yiren Digital’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and Yiren Digital does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

About Yiren Digital

Yiren Digital Ltd. (NYSE: YRD) is a leading fintech company in China, providing both credit and wealth management services. For its credit business, the Company provides an effective solution to address largely underserved investor and individual borrower demand in China through online and offline channels to efficiently match borrowers with investors and execute loan transactions. Yiren Digital deploys a proprietary risk management system, which enables the Company to effectively assess the creditworthiness of borrowers, appropriately price the risks associated with borrowers, and offer quality loan investment opportunities to investors. Yiren Digital’s marketplace provides borrowers with quick and convenient access to consumer credit at competitive prices and investors with easy and quick access to an alternative asset class with attractive returns. For its wealth management business, the Company targets China’s mass affluent population and strives to provide customized wealth management services, with a combination of long-term and short-term targets as well as different types of investments, ranging from cash and fixed-income assets, to funds and insurance. For more information, please visit ir.Yirendai.com.

Unaudited Condensed Consolidated Statements of Operations

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

For the Three Months Ended 
 

March 31, 2019

  

March 31, 2020

  

March 31, 2020
 

RMB

  

RMB

  

USD

Net revenue:

          

Loan facilitation services

1,055,046

  

358,541

  

50,636

Post-origination services

296,279

  

146,520

  

20,693

Account management services

488,340

  

413,166

  

58,350

Others

140,743

  

105,433

  

14,890

Total net revenue

1,980,408

  

1,023,660

  

144,569

Operating costs and expenses:

          

Sales and marketing

1,127,945

  

616,441

  

87,058

Origination and servicing

172,123

  

102,918

  

14,535

General and administrative

257,707

  

149,041

  

21,049

Allowance for contract assets and receivables

191,104

  

143,385

  

20,250

Total operating costs and expenses

1,748,879

  

1,011,785

  

142,892

Other income/(expenses):

          

Interest income, net

23,875

  

25,116

  

3,547

Fair value adjustments related to Consolidated ABFE

34,998

  

(26,020)

  

(3,675)

Others, net

160,223

  

12,184

  

1,721

Total other income/(expenses)

219,096

  

11,280

  

1,593

Income before provision for income taxes

450,625

  

23,155

  

3,270

Share of results of equity investees

(4,957)

  

–

  

–

Income tax expense

76,534

  

3,936

  

556

Net income

369,134

  

19,219

  

2,714
           

Weighted average number of ordinary shares outstanding, basic

185,126,457

  

185,600,961

  

185,600,961

Basic income per share

1.9940

  

0.1036

  

0.0146

Basic income per ADS

3.9880

  

0.2072

  

0.0292
           

Weighted average number of ordinary shares outstanding, diluted

186,578,885

  

186,166,429

  

186,166,429

Diluted income per share

1.9784

  

0.1032

  

0.0146

Diluted income per ADS

3.9568

  

0.2064

  

0.0292
           

Unaudited Condensed Consolidated Cash Flow Data

          

Net cash (used in)/ generated from operating activities

(658,435)

  

557,762

  

78,771

Net cash used in investing activities

(249,931)

  

(524,479)

  

(74,070)

Net cash provided by/ (used in) financing activities

493,389

  

(65,637)

  

(9,270)

Effect of foreign exchange rate changes

(2,196)

  

1,206

  

170

Net decrease in cash, cash equivalents and restricted cash

(417,173)

  

(31,148)

  

(4,399)

Cash, cash equivalents and restricted cash, beginning of period

3,034,484

  

3,269,142

  

461,691

Cash, cash equivalents and restricted cash, end of period

2,617,311

  

3,237,994

  

457,292

Unaudited Condensed Consolidated Balance Sheets

 (in thousands)
 

As of
   

December 31, 2019

  

March 31, 2020

  

March 31, 2020
   

RMB

  

RMB

  

USD
             

        Cash and cash equivalents

  

3,198,086

  

3,194,993

  

451,219

        Restricted cash

  

71,056

  

43,001

  

6,073

        Accounts receivable

  

3,398

  

33,902

  

4,788

        Contract assets, net

  

2,398,685

  

1,873,548

  

264,596

        Contract cost

  

160,003

  

149,917

  

21,172

        Prepaid expenses and other assets

  

1,333,221

  

868,462

  

122,651

        Loans at fair value

  

418,492

  

313,267

  

44,242

        Financing receivables

  

29,612

  

33,381

  

4,714

        Amounts due from related parties

  

988,853

  

1,583,859

  

223,684

        Held-to-maturity investments

  

6,627

  

4,399

  

621

        Available-for-sale investments

  

460,991

  

456,061

  

64,408

        Property, equipment and software, net

  

195,855

  

188,880

  

26,675

        Deferred tax assets

  

45,407

  

42,084

  

5,943

        Right-of-use assets

  

334,134

  

291,028

  

41,101

Total assets

  

9,644,420

  

9,076,782

  

1,281,887

        Accounts payable

  

43,583

  

39,068

  

5,517

        Amounts due to related parties

  

106,645

  

112,034

  

15,822

        Liabilities from quality assurance program and guarantee

  

4,397

  

3,487

  

492

        Deferred revenue

  

358,203

  

254,933

  

36,003

        Accrued expenses and other liabilities

  

2,338,745

  

1,946,205

  

274,858

        Refund liability

  

1,801,535

  

1,760,942

  

248,692

        Deferred tax liabilities

  

218,888

  

216,304

  

30,549

        Lease liabilities

  

282,334

  

259,197

  

36,606

Total liabilities

  

5,154,330

  

4,592,170

  

648,539

        Ordinary shares

  

121

  

121

  

17

        Additional paid-in capital

  

5,038,691

  

5,045,268

  

712,528

        Treasury stock

  

(37,097)

  

(37,097)

  

(5,239)

        Accumulated other comprehensive income

  

21,855

  

18,671

  

2,637

        Accumulated deficit

  

(533,480)

  

(542,351)

  

(76,595)

Total (deficit)/ equity

  

4,490,090

  

4,484,612

  

633,348

Total liabilities and equity

  

9,644,420

  

9,076,782

  

1,281,887

Operating Highlights and Reconciliation of GAAP to Non-GAAP Measures

(in thousands, except for number of  borrowers, number of investors and percentages)
 

For the Three Months Ended 
   

March 31, 2019

  

March 31, 2020

  

March 31, 2020
   

RMB

  

RMB

  

USD

Operating Highlights

            

Amount of p2p investment

  

11,435,588

  

5,203,747

  

734,909

Number of p2p investors

  

200,780

  

78,256

  

78,256

Amount of non-p2p investment

  

328,708

  

2,163,313

  

305,518

Number of non-p2p investors

  

14,022

  

18,809

  

18,809

Amount of loans facilitated

  

10,934,923

  

1,839,454

  

259,781

Number of borrowers

  

149,715

  

115,420

  

115,420

Remaining principal of performing loans

  

63,213,843

  

42,063,039

  

5,940,436
             

Segment Information

            

Wealth management:

            

Revenue

  

521,434

  

415,876

  

58,733

Sales and marketing expenses

  

143,904

  

67,326

  

9,508
             

Consumer credit:

            

Revenue

  

1,458,974

  

607,784

  

85,836

Sales and marketing expenses

  

984,041

  

549,115

  

77,550
             

Reconciliation of Adjusted EBITDA

            

Net income

  

369,134

  

19,219

  

2,714

Interest income, net

  

(23,875)

  

(25,116)

  

(3,547)

Income tax expense

  

76,534

  

3,936

  

556

Depreciation and amortization

  

32,502

  

27,171

  

3,837

Share-based compensation

  

14,699

  

4,541

  

641

Adjusted EBITDA

  

468,994

  

29,751

  

4,201

Adjusted EBITDA margin

  

23.7%

  

2.9%

  

2.9%

Delinquency Rates
   

Delinquent for
   

15-29 days

  

30-59 days

  

60-89 days

All Loans

            

December 31, 2015

0.7%

  

1.2%

  

0.9%

December 31, 2016

0.6%

  

0.9%

  

0.8%

December 31, 2017

0.8%

  

1.0%

  

0.8%

December 31, 2018

1.0%

  

1.8%

  

1.7%

December 31, 2019

1.2%

  

2.0%

  

1.7%

March 31, 2020

  

1.6%

  

4.1%

  

3.2%
             

Online Channels

            

December 31, 2015

0.5%

  

0.8%

  

0.6%

December 31, 2016

0.5%

  

0.9%

  

0.8%

December 31, 2017

1.1%

  

1.1%

  

0.9%

December 31, 2018

1.2%

  

2.3%

  

2.2%

December 31, 2019

1.6%

  

2.9%

  

2.5%

March 31, 2020

  

1.9%

  

5.2%

  

3.8%
             

Offline Channels

            

December 31, 2015

0.7%

  

1.2%

  

1.0%

December 31, 2016

0.6%

  

0.9%

  

0.8%

December 31, 2017

0.6%

  

0.9%

  

0.7%

December 31, 2018

0.9%

  

1.6%

  

1.5%

December 31, 2019

1.0%

  

1.7%

  

1.5%

March 31, 2020

  

1.6%

  

3.7%

  

3.1%

M3+ Net Charge-Off Rate

Loan Issued Period

  

Amount of Loans Facilitated
During the Period

  

Accumulated M3+ Net Charge-Off
as of March 31, 2020

  

Total Net Charge-Off Rate
as of March 31, 2020
   

(in RMB thousands)

  

(in RMB thousands)

    

2015

  

53,143,029

  

4,455,505

  

8.4%

2016

  

53,805,112

  

5,071,489

  

9.4%

2017

  

69,883,293

  

11,506,013

  

16.5%

2018

  

63,176,149

  

9,989,880

  

15.8%

2019

  

39,103,048

  

2,018,636

  

5.2%

M3+ Net Charge-Off Rate

Loan
Issued
Period

  

Month on Book
   

4

7

10

13

16

19

22

25

28

31

34

2015Q1

  

0.8%

2.0%

3.4%

4.7%

5.7%

6.5%

7.1%

7.5%

7.7%

7.8%

7.8%

2015Q2

  

0.8%

2.3%

3.8%

5.2%

6.4%

7.3%

7.9%

8.3%

8.5%

8.7%

8.8%

2015Q3

  

0.4%

1.6%

3.1%

4.4%

5.6%

6.5%

7.1%

7.6%

7.9%

8.1%

8.4%

2015Q4

  

0.4%

1.6%

3.1%

4.4%

5.5%

6.3%

6.9%

7.4%

7.9%

8.3%

8.5%

2016Q1

  

0.3%

1.2%

2.5%

3.6%

4.5%

5.2%

5.8%

6.4%

7.0%

7.4%

7.6%

2016Q2

  

0.4%

1.6%

3.1%

4.3%

5.2%

6.0%

6.8%

7.6%

8.1%

8.4%

8.7%

2016Q3

  

0.3%

1.6%

3.1%

4.3%

5.4%

6.6%

7.8%

8.6%

9.2%

9.5%

9.8%

2016Q4

  

0.2%

1.5%

2.9%

4.4%

5.9%

7.4%

8.4%

9.3%

10.0%

10.4%

10.7%

2017Q1

  

0.3%

1.5%

3.2%

5.1%

7.1%

8.6%

9.8%

10.8%

11.5%

12.0%

12.2%

2017Q2

  

1.1%

2.9%

5.6%

8.4%

10.4%

12.1%

13.5%

14.5%

15.3%

15.8%

  

2017Q3

  

0.3%

2.9%

6.4%

9.1%

11.6%

13.6%

15.0%

16.2%

16.9%

    

2017Q4

  

0.5%

3.9%

7.3%

10.5%

13.2%

15.3%

16.9%

18.0%

      

2018Q1

  

0.4%

3.0%

6.6%

10.1%

12.9%

15.2%

16.9%

        

2018Q2

  

0.5%

3.6%

7.4%

10.8%

13.6%

15.8%

          

2018Q3

  

0.4%

3.0%

6.2%

9.1%

11.7%

            

2018Q4

  

0.3%

2.5%

5.6%

8.6%

              

2019Q1

  

0.2%

2.5%

5.6%

                

2019Q2

  

0.3%

2.9%

                  

2019Q3

  

0.3%

                    

Related Links :

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PR Newswire

Ausounds Expands Global Footprint: Products Now Available in Japan

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Products are available at Bic Camera, Yodobashi Camera, E-Earphone and Fujiya-Avic

SHERMAN OAKS, California, June 24, 2020 — Ausounds, a U.S.-based premium audio manufacturer, today announces its expansion into Japan. The brand, which launched in the United States in August 2019, has expanded into three leading Japanese electronic retailers: Bic Camera, Yodobashi Camera, and E-Earphone. Ausounds has partnered with Kopek Japan Corporation for distribution throughout the country.

Ausounds, known for their high-quality headphones designed for music creators, is featuring its full line of products at Bic Camera, Yodobashi Camera, and E-Earphone. The line includes the AU-Stream ANC, AU-Flex ANC, AU-Stream in a variety of colors, and their latest, the AU-Stream Hybrid in a variety of colors.

The brand also plans to offer their first over-ear headphones, the AU-X ANC and AU-XT ANC headphones shortly after this initial launch.

“We are excited to be expanding our ever-growing company,” explained Marcus Sanchez, CMO of Ausounds. “We launched in 2019 with the mission to pioneer a new way of listening to music, and this short time later, we are finding ourselves able to bring the innovative audio equipment to more people globally. We aim to not only meet the needs of music creators at all levels, but of creators everywhere.”

Bic Camera, which has over 40 stores in Japan, is one of the country’s leading electronic retailers. Yodobashi Camera and Fujiya-Avic, leading electronic retailers in Japan, will also be offering Ausounds’ premium products. Finally, E-Earphone is Japan’s leading headphone retailer and will be offering Ausounds’ full line.

Ausounds products are now available in all of the Japanese retail stores mentioned above.

To learn more about Ausounds’ products, please visit https://ausounds.com/ in the U.S., and https://ja.ausounds.com in Japan.

About Ausounds 
Ausounds is a U.S.-based premium audio manufacturing company that designs accessible headphones and audio products for music creators and music lovers alike. With a focus on redefining the sound of audio, Ausounds’ products are crafted using the highest quality materials. The creative minds behind these innovations consistently research the newest technologies in the music industry to incorporate into each product released. To learn more about Ausounds, visit www.ausounds.com. 

Media Contact
Samantha Lins
samanthal@lotus823.com
732-212-0823

Logo – https://mma.prnasia.com/media2/966159/Ausounds_Logo.jpg?p=medium600

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PR Newswire

Acer Expands its Acclaimed Predator Gaming Portfolio with Desktops, Monitors and Accessories

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TAIPEI, June 23, 2020 —

Editor’s Summary:

  • The Predator X25 gaming monitor boasts an incredibly fast 360 Hz refresh rate, supporting the smoothest possible animation and gameplay
  • Predator XB3 gaming monitors deliver lifelike visuals for smooth gaming with up to a speedy 0.5 ms (G to G) response time, NVIDIA® G-SYNC® compatibility and DisplayHDR™ 400
  • Refreshed Predator Orion 9000 and Orion 3000 gaming rigs give enthusiasts powerful performance for gaining an advantage over their opponents and streaming their battles to fans and friends
  • The newest Nitro 50 gaming desktops support entry-level to mainstream gamers with a wide range of configuration and pricing options
  • Predator Gaming Chair x OSIM gives relaxing massages to ease tension and maximize comfort during and after gameplay
  • Predator Cestus 350 mouse supports gamers with speed, precision and style—wirelessly

Acer has rounded out its award-winning gaming line with a host of powerful, cutting-edge gaming PCs, monitors and accessories. Options are available to suit a wide range of gamers, from professionals looking for top-of-the-line technology to casual players wanting a solid gaming desktop at an affordable price.

“Our latest gaming line-up is outfitted with some of the most innovative and powerful technologies available today,” said Jerry Kao, Co-COO of Acer. “As a leader in the gaming industry, we strive to help gamers gain an advantage over their opponents with robust, feature-rich systems and devices that push the boundaries of performance, ease of use and comfort.”

Predator X25 Monitor – Amazingly Fast 360 Hz Gaming

This powerful 24.5-inch 1920 x 1080 gaming monitor boasts a super speedy 360 Hz refresh rate to give players the smoothest possible animation. Featuring the latest NVIDIA® G-SYNC® processors, the Predator X25 delivers an optimal gaming experience loaded with advanced features, making games look as realistic as possible.

The Predator X25 can also adjust its brightness and color temperature automatically based on environmental light. With LightSense, the Predator X25 detects the amount of ambient light in the viewing environment and automatically adjusts its brightness settings to maximize viewing comfort. AdaptiveLight automatically adjusts the monitor’s backlights to suit the ambient light in the room, while ProxiSense reminds gamers to take a break after a set amount of time. Ergonomic, the monitor is adjustable with -5 to -25 degree tilt, +/- 30 degree swivel, up to 4.7-inch height adjustment and +/- 90 degree pivot.

Predator XB3 Series Monitors – Smooth Gameplay, Brilliant Visuals

Acer is launching four Predator XB3 series monitors: the 31.5-inch Predator XB323QK NV, the 27-inch Predator XB273U GS and Predator XB273U GX, plus the 24.5-inch Predator XB253Q GZ. All are certified as NVIDIA G-SYNC Compatible, with up to 240 Hz refresh rates and up to 4K UHD resolution, this new line of monitors delivers silky smooth gameplay and wide 178-degree viewing angles. DisplayHDR™ 400 supports stunningly bright images with high contrast and color accuracy, while up to a 0.5 ms (G to G) response time in overdrive drastically reduces motion blur in fast moving images. The new line includes Acer AdaptiveLight, helping gamers stay comfortable during long gaming sessions, and is ergonomically designed, with a stand that features tilt, swivel, pivot and height adjustment. RGB LightSense lets gamers choose a variety of different lighting effects, including color, speed, duration and brightness, which can be set to react to gameplay, music or video.

Predator Orion 9000 – Extreme Performance for Pros and Hardcore Gamers

Designed for hardcore and professional gamers, the refreshed Predator Orion 9000 (P09-920) delivers extreme performance, advanced cooling and easy upgradability. A gaming monster, this series packs a powerful punch with up to an Intel® Core™ i9 Extreme Edition processor, dual NVIDIA® Geforce® RTX® 2080 Ti graphics cards in SLI mode, up to three 3.5-inch HDDs and two 2.5-inch SDDs with a USB 3.2 Gen2 Type-C hot swap dock for SSD/HDDs. Three 4.7-inch Predator FrostBlade™ fans provide up to 16% more airflow and 55% increased static pressure compared to prior generations[1], while a CPU liquid cooler fan keeps the temperature low as battles heat up. Integrated Killer™ E3100G and Intel® WiFi 6 support fast and reliable wireless connectivity. Overclocking can be activated at the touch of a button. An EMI-compliant edge-to-edge tempered glass side panel showcases the colorful ARGB lighting on the internal fans and has a tool-less design to simplify upgrades. The chassis includes a convenient headset cradle, handles and wheels.

Predator Orion 3000– Powerful Performance in a Mid-Sized Tower

The newest Predator Orion 3000 models are made for gamers desiring a mid-sized tower rig for enjoying their favorite game titles or diving into streaming without seeing an impact on performance. Thanks to a 10th Gen Intel® Core™ i7 processor[2] and GeForce® RTX 2070 SUPER™ GPU[2], it can tackle a wide range of games. Top that off with up to 64 GB of 2666 MHz DDR4 memory, up to 1TB[2] PCIe NVMe SSD and two 3.5-inch SATA3 hard drives, and it has the guts for editing and storing videos. Two custom-engineered Predator FrostBlade™ fans swiftly handle intake and exhaust to keep temperatures low, while the lighting on the fans and vertical light bars at the front of the case can be customized with special effects and up to 16.7 million colors via PredatorSense™ software. An optional EMI-compliant tempered glass side panel showcases the powerful components and colorful RGB lighting within. Killer E2600 fuels high-speed gigabit network performance and Intel® Wi-Fi 6 functionality[2] delivers high-speed, low-latency wireless performance.  

Nitro 50 – Practical Desktop for Casual Gamers and Beginners

The Nitro 50 Series desktops deliver powerful performance for lag-free gaming and smooth graphics-intensive tasks with up to a 10th Gen Intel® Core™ i7 processor and up to a GeForce® RTX 2060 SUPER™ GPU. Up to 64GB of DDR4-2666 memory[2] fuels the best possible performance. Sharp contours and red LEDs[2] set the mood for epic game play, while the 18-liter chassis fits neatly on or under a desk. Powerful Predator FrostBlade™ cooling keeps the temperature low, and gamers can control and make adjustments to fan speed in real time. High capacity storage is provided by a 1TB NVMe PCIe SSD[2] and two 3TB HDDs[2].

Predator Cestus 350 Mouse – Precision, Speed & Style

The latest Predator mouse brings gamers fast and accurate control without messy wires. Different games feature varying play styles, each having its own optimal settings. With the Predator Cestus 350, players can create five custom profiles or leverage preset DPI (up to 16,000) settings via the hyper-accurate Pixart 3335 optical sensor and make use of 8 programmable buttons, enabling them to optimize their mouse for each game. It also supports fast wireless connectivity with a polling rate of 1 ms/1000 Hz for wireless and 0.5 ms/2000 Hz for wired.

Predator Gaming Chair x OSIM – Maximum Gaming Comfort

Designed for professional gamers and eSports enthusiasts alike, the new Predator Gaming Chair x OSIM gives a relaxing massage that leverages OSIM V-Hand™ Massage Technology to emulate the agile hands of a professional masseuse on the user’s neck and shoulders. Together with other massage techniques such as knead, press, roll and tap that cover the entire back, this gaming chair has been specially designed to decrease tension and optimize physical comfort during or after gameplay.

The cozy and ergonomic chair is highly adjustable, able to be reclined up to 145 degrees, and gamers can make use of buttons on the chair’s right-side arm rest to control two sets of rollers that mimic a pair of agile hands tracing the s-curve of the spine. Three automatic massage programs (Neck & Shoulders, Lumbar and Energize) are available, designed by a massage expert to target the neck, shoulder and lumbar regions—all known to be common pain points for gamers due to prolonged periods spent sitting.

Gamers are provided with many options to customize their massage beyond simply varying the massage techniques used. The chair’s rollers can be adjusted to suit six different shoulder positions in order to cater to people of differing heights and there are also roller width settings which provide gamers with the ability to hit exactly the right spot, regardless of their body width. Furthermore, gamers have the option of setting a programmable spot-massage that focuses on a single area, giving particularly aching muscles a bit of extra attention and care.

Featuring black carbon fiber patterned PVC leather with metallic dark gray and teal accents, the Predator Gaming Chair x OSIM has a sporty, yet professional, look and feel. Topping it off, two built-in Bluetooth speakers on the chair’s headrest deliver dynamic sound effects to intensify gaming immersion without the hassle of a headset.

Pricing & Availability

The Predator XB3 Series will be available in North America in September starting at USD 429.99; in EMEA in August starting at EUR 439; and in China in July, starting at RMB 2,999.

The Predator Orion 9000 will be available in EMEA in October starting at EUR 2,799; and in China in September, starting at RMB 20,999.

The Predator Orion 3000 will be available in North America in September starting at USD 999.99; in EMEA in August starting at EUR 899; and in China in July, starting at RMB 8,999.

The Nitro 50 will be available in North America in September starting at USD 799.99; in EMEA in August starting at EUR 799; and in China in July, starting at RMB 4,599.

The Predator Cestus 350 gaming mouse is currently available in North America starting at USD $124.99; in EMEA it will be available in Q2, starting at EUR 99.

Exact specifications, prices, and availability will vary by region. To learn more about availability, product specifications and prices in specific markets, please contact your nearest Acer office via www.acer.com.

 

About Acer

Founded in 1976, today Acer is one of the world’s top ICT companies and has a presence in over 160 countries. As Acer looks into the future, it is focused on enabling a world where hardware, software and services will infuse with one another to open up new possibilities for consumers and businesses alike. From service-oriented technologies to the Internet of Things to gaming and virtual reality, Acer’s 7,000+ employees are dedicated to the research, design, marketing, sale, and support of products and solutions that break barriers between people and technology. Please visit www.acer.com for more information.

 © 2020 Acer Inc. All rights reserved. Acer and the Acer logo are registered trademarks of Acer Inc. Other trademarks, registered trademarks, and/or service marks, indicated or otherwise, are the property of their respective owners. All offers subject to change without notice or obligation and may not be available through all sales channels. Prices listed are manufacturer suggested retail prices and may vary by location. Applicable sales tax extra.

[1]   Performance is based on a comparison at 24dBA with the 120x120mm Predator FrostBlade™ fan and a fan of the same size as those used in PO9-900 and PO9-600 devices. Actual airflow will vary based on site conditions, size of fan and other factors.

[2]   Specifications may vary depending on model and/or region. All models subject to availability.
 

Related Links :

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PR Newswire

BlitzWolf’s BW-AC1 Cable and BW-TH5 Hub Win The 2020 Red Dot Design Award

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ROAD TOWN, British Virgin Islands, June 23, 2020 — BlitzWolf took home the 2020 Red Dot Design Award with two of its products BW-AC1 Cable and BW-TH5 Hub. These two award-winning products allow users to use their devices more comfortably.

“In BlitzWolf, we believe that even a small product can bring a more pleasant experience to customers’ life through considerate details and creative designs,” said Frank Li, Brand Manager of BlitzWolf. “The Red Dot Design Awards is a recognition to our unlimited passion for technology and carefully crafted product designs.”

BlitzWolf’s BW-AC1 Cable and BW-TH5 Hub Win The 2020 Red Dot Design Award
BlitzWolf’s BW-AC1 Cable and BW-TH5 Hub Win The 2020 Red Dot Design Award

 

BW-AC1 Cable

With a L-shaped design, the curved USB C connector of the BW-AC1 Cable fits user’s palm perfectly which reduces operation interference when playing games. The product’s 120° USB A connector also makes sure the sagging wire stay in a most natural angle, extending the lifespan of the wire. The BW-AC1 Cable has gone through 20 tests including frequent plugging and pulling, swing bending, resistance to external forces and currency resistance to ensure it is reliable and durable.

BW-TH5 Hub

Adopting a smart and elegant micro-arc curve design, BW-TH5 Hub is small and portable. Equipped with power delivery technology and 4K high-definition multimedia interface output, the device unifies connectivity with three USB3.0 ports, 4K display port, SD card and TF card slots. The BW-TH5 Hub has so far received overwhelming positive reviews from users with comments such as “really helpful if you have a thin laptop with very few ports. Easy to carry and very light”.

These two award-wining products are available on Banggood.com, Amazon, and AliExpress.

Following its win, BlitzWolf also announced an online campaign on its authorized sales platform Banggood.com between June 22 and 29. Themed “Let’s join BlitzWolf Party”, the campaign includes online interactive games and prizes, as well as special discount offers of as much as 50% off to reward users. Visit the campaign site to find more about the campaign.

About BlitzWolf

Established in 2015, BlitzWolf’s products consist of mobile phone accessories, computer accessories, audio gears, smart wearables, as well as household gadget and other smart home devices. Committed to bring convenience to customers, BlitzWolf prides itself on their iconic ergonomic design, cost-effectiveness and high performance. Trusted by many customers around the world, BlitzWolf continues to create products that simplify your life.

For more information, please visit:

Website: https://www.blitzwolf.com/ 
Facebook: https://www.facebook.com/blitzwolfs/ 
Twitter: https://twitter.com/BlitzwolfTec 
YouTube: https://www.youtube.com/channel/UCf2nhEF91BballJG_Hksajg 
Instagram: https://www.instagram.com/blitzwolfs/

 

Related Links :

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PR Newswire

Nanjing sends “Innovation invitation” to the world

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NANJING, China, June 23, 2020 — On June 22, Nanjing, China held 2020 Nanjing Tech Week online and offline with the theme of “Understanding City Innovation”. Zhang Jinghua, member of the Standing Committee of CPC Jiangsu Provincial Committee and Secretary of Nanjing Municipal Party Committee, delivered a keynote speech and sent an invitation to the world to work together to innovate and win-win in the future with Nanjing, according to the organizing committee of Nanjing Tech Week.

2020 Nanjing Innovation Week officially kicked off
2020 Nanjing Innovation Week officially kicked off

 

“Nanjing is a famous national research center and one of the cities with the highest intelligence density,” Bai Chunli, president of the Chinese Academy of Sciences(CAS), said in the “Cloud”. Since 2017, CAS and Nanjing have made outstanding progress in joint development the Qilin Science and Technology City. A regional highland where various innovative resources of the CAS are concentrated has taken shape. At the meeting, the “Cloud Signing” between the CAS and Jiangsu Provincial People’s Government injected new impetus to the high-quality development of Nanjing. Both sides will continue to strengthen cooperation, gather top scientific talents, and build Qilin City as the Nanjing comprehensive science center.

The new pursuit of Nanjing has attracted the attention of the world’s top innovators. Sir Richard John Roberts, president of Nobel Prize Winner Association, sent the “Cloud blessing”. He hoped that the association he led and Nanjing could establish cooperation.

Nanjing is committed to creating a first-class innovation ecosystem and promoting innovation to be Nanjing’s most distinctive temperament and logo. First, around the life cycle of enterprise growth, Nanjing will give whole support. Second, talent is Nanjing’s most desired resource. Nanjing will provide high-quality services for all innovative talents. Thirdly, to the financial concern, Nanjing has always put the flow of funds and financing difficulties in a prominent position. Through diversified measures, the continuous flow of financial funds will get into right position.

“On the road to innovation, we need work together to achieve stability and long-term success and write wonderful innovation story,” Zhang Jinghua said. The new Nanjing in the new era has vast development space and unlimited opportunities for innovation.

2020 Nanjing Tech Week begins. Global innovators will focus on the proposition of the innovation development, sharing ideas, exchanging achievements, and seeking the future through various forms online and offline.

Image Attachments Links:
Link: http://asianetnews.net/view-attachment?attach-id=365906
Caption: 2020 Nanjing Innovation Week officially kicked off

 
PR Newswire

LTI to Launch Accelerated Migration Program for SAP-Based Enterprises With Amazon Web Services

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MUMBAI, India, June 23, 2020 — Larsen & Toubro Infotech (BSE code: 540005) (NSE: LTI), a global technology consulting and digital solutions company, today announced an Accelerated Migration Program for customers of SAP with Amazon Web Services (AWS). As part of this program, LTI will help customers move their SAP® ERP, SAP S/4HANA®, and other SAP workloads from on-premise to AWS leveraging its intelligent, automated, migration acceleration platform and services.

To enable faster migration to AWS, the program offers Discovery Module, Build and Deployment Module, and Validation Module to enterprises across industry segments. The Add-on components of the program include an SAP profiler, analyzer for SAP S/4HANA, Auto-code remediation for SAP HANA® compliance, Security Module and Smart Testing module with a vast repository of test scenarios and test cases.

“LTI has a successful track record of enabling AWS cloud transformations across highly complex SAP customer landscapes,” said Siddharth Bohra, Chief Business Officer, Tech, Media, Consumer & Head of Digital and Analytics, LTI. “Working with AWS will help us digitize the core and bring this expertise to other SAP clients, leveraging our highly automated approach.”

LTI has achieved AWS SAP Competency status which establishes LTI as an Advanced Consulting Partner in the AWS Partner Network (APN) with certified technical proficiency and proven customer implementation success in migrating SAP environments to AWS. 

The Accelerated Migration expertise reflects the highest standards of LTI’s depth of knowledge in the functional and technical aspects of AWS cloud migration for SAP solutions. LTI itself is a very large and long-standing SAP customer and has migrated its internal SAP systems to AWS.

As an SAP customer, an AWS SAP Competency Partner, and global strategic services partner with SAP, LTI is positioned to be an ideal partner for any SAP customer migrating to AWS. LTI’s Accelerated Migration Program for SAP solutions speedily migrates and transforms SAP-based enterprises by lowering infrastructure costs while simultaneously improving agility, customer experience, and innovation.  

In October 2019, LTI acquired Powerup Technologies, an APN Premier Consulting Partner, bolstering its cloud consulting and digital transformation capabilities. LTI recently won the 2020 SAP Pinnacle Award as Industry Innovation Partner of the Year.

About LTI

LTI (NSE: LTI) is a global technology consulting and digital solutions company helping more than 420 clients succeed in a converging world. With operations in 32 countries, we go the extra mile for our clients and accelerate their digital transformation with LTI’s Mosaic platform enabling their mobile, social, analytics, IoT and cloud journeys. Founded in 1997 as a subsidiary of Larsen & Toubro Limited, our unique heritage gives us unrivalled real-world expertise to solve the most complex challenges of enterprises across all industries. Each day, our team of more than 30,000 LTItes enable our clients to improve the effectiveness of their business and technology operations and deliver value to their customers, employees and shareholders. Find more at http://www.Lntinfotech.com or follow us at @LTI_Global

Connect with LTI:

SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries. Please see https://www.sap.com/copyright for additional trademark information and notices. All other product and service names mentioned are the trademarks of their respective companies.

SAP Forward-looking Statement

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP’s future financial results are discussed more fully in SAP’s filings with the U.S. Securities and Exchange Commission (“SEC”), including SAP’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

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PR Newswire

TCL QLED TV’s Audiovisual Performance Recognized with IMAX Enhanced Certification

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HONG KONG, June 23, 2020 — TCL Electronics (1070.HK), one of the leading players in the global TV industry and leading consumer electronics company today announce the X915 Android QLED series’ global certification with IMAX® Enhanced for its extraordinary audiovisual features and large display.

“It is our absolute pleasure to gain recognition and partner with such an elite program as IMAX Enhanced. TCL Android QLED TVs have met the highest level of standards, and ensure the best color, contrast, clarity and sound on the market,” said Kevin Wang, CEO of TCL Industries Holdings Co., Ltd. and TCL Electronics.

TCL is one of the few TV brands that have met the stringent performance standards established by IMAX and DTS. The X915 features 8k Quantum Dot (QLED) Display and Dolby Vision® HDR imaging technology, industry-leading sound solutions by Onkyo and Dolby Atmos® immersive audio hardware.

IMAX Enhanced 8K QLED Performance

Powered by the latest Quantum Dot (QLED) Display Technology with measured 95%+ ultra-high color gamut (DCI-P3) and 1.07 billion level color rendering, X915 delivers deeply saturated reds, stunning greens and spectacular blues without the limitations of lower color volume or shorter life found in other color technologies.

X915 also offers amazing 8K picture quality with resolution of 33 million pixels. For non-8K content, X915’s AI 8K Upscaling Technology can optimize it into 8K format automatically, offering true 8K experience. Its Local Dimming Technology enables precise backlight control that enhances contrast and imagery while HDR 10+ and Dolby Vision® optimize picture to boost color saturation limits and beefing up the contrast.  

IMAX ENHANCED Audio Hardware

The X915 also comes equipped with an industry-leading sound system, featuring hardware from Onkyo and sound technology supported by Dolby Atmos immersive audio.

*Product specifications, sizes and avaliability may differ by region.

*Dolby, Dolby Atmos, and Dolby Vision are registered trademarks of Dolby Laboratories, Inc.

About TCL Electronics

TCL Electronics (1070.HK) is a fast-growing consumer electronics company and leading player in the global TV industry. Founded in 1981, TCL operates its own manufacturing and R&D centers worldwide with products sold in more than 160 countries. According to Sigmaintell, TCL ranked 2nd in the global TV market in terms of sales volume in 2019. TCL specializes in the research, development and manufacturing of consumer electronics ranging from TVs, audio devices and smart home products.

Photo – https://photos.prnasia.com/prnh/20200622/2837177-1?lang=0

PR Newswire

StaffAny develops mobile app, CICO Global, to help regional businesses reopen safely and efficiently

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StaffAny joins the fight against COVID-19 by waiving CICO Global’s download fees till end-2020

SINGAPORE, June 23, 2020 — Singapore start-up StaffAny, which offers workforce management tech solutions, has developed and launched a new mobile app, called CICO Global (Clock-in, Clock-out). As many regional economies are slowly emerging from lockdowns, businesses are carefully reopening. The app helps regional businesses and their employees reopen in an efficient and safe manner by leveraging digital solutions to encourage businesses to easily employ safety measures, such as contact tracing, safe distancing and staggered employee hours. CICO Global is ideal for businesses that require the recording of staff attendance (in particular, part-timers or hourly workers), such as F&B outlets, convenience shops, and retailers like supermarkets.

StaffAny CICO clock in and temperature logs mobile app flow
StaffAny CICO clock in and temperature logs mobile app flow

To help the Asia Pacific business community fight against COVID-19, StaffAny is waiving CICO’s download fees for regional businesses until the end of 2020[1]. CICO is also in line with Singapore’s recently announced Fortitude Budget as it helps businesses use digital solutions to reopen in a safe manner and encourages workers to comply with post-Circuit Breaker measures.

“We first developed CICO as the ‘lite’ version of our original StaffAny solution and launched it in Singapore to help businesses here reopen, providing employers with a peace of mind that their staff was complying with our local Circuit Breaker measures. We were greatly heartened by the number of sign-ups – hundreds in just a short period of time. We wanted to find a way to extend CICO and help the regional community to continue operations smoothly and safely, as we know many companies – especially SMEs – have been badly hit by COVID-19,” said Janson Seah, co-founder, StaffAny.

CICO Global is a workforce management mobile application that employees and their managers can use in the following ways: 

  • Automated timesheets – Employees use CICO Global to verify when they enter and leave the business. After downloading CICO Global on their mobile phones, employees use the app to scan a QR code based at the work premise. CICO Global verifies the individual, time of arrival and departure, as well as the geo-location of their mobile. CICO Global then automatically tabulates the number of hours registered at work, including overtime. This removes the need for manual clock-ins (which can be easily mis-recorded) or outdated punch-cards. The contactless system also reduces the chances of any virus transmission. When employees clock in, they can also make a health declaration to confirm they have not travelled abroad recently or been in contact with a COVID-19 patient[2].
  • Dashboard for visibility – Managers no longer need to visit each outlet to verify staff have clocked in for work. Using the CICO Global dashboard, they can easily verify attendance and clock-in/out times. By tracking staff properly, managers can ensure staggered hours and that employees are not being cross-deployed to different outlets.
  • Notifications – When assigned staff does not clock-in, CICO Global notifies the manager so that necessary action can be taken. Notifications are also provided to employees to remind them of an upcoming shift. This helps prevent lateness and no-shows.
  • Record keeping – All records are within the app and can be easily exported. This eliminates time-consuming paperwork for multiple records, such as health declaration, temperature taking, or clock-in/out times.

“Clocking in for work was previously quite tedious – multiple clock-ins, signing many health declaration forms, and all the messy paperwork that comes with it. A couple of times, an employee would accidentally miss out on something and my team would need to constantly check. Now with CICO, things are simpler, faster, and neater. I have more time to focus on managing operations, in particular, sorting out deliveries and our new take-away initiative,” said Walden Ting, Operations Manager Brotzeit, a German bar and restaurant in Singapore.

See Annex A for details on some of CICO’s pioneering users.

Setting up CICO Global is simple, instant, and does not require any hardware. Businesses simply log on to CICO Global (https://www.staffany.com/cicoglobal) and sign up. Regional businesses that sign up by 31 July can access CICO for free till the end of this year (with StaffAny waiving the regular fee of S$39 per month). After signing up, businesses can start instantly by adding/importing their employees’ details in bulk. Employees will then receive an invitation from their employer via SMS to download the StaffAny CICO app and they would be able to clock in immediately. Businesses that continue using the app will pay the regular fee after the end of this year.

“As economies ease their lockdowns and businesses resume, we want to minimise chances of a surge in the number of cases of COVID-19. Because of this, it makes sense that some measures stay in place, including safe distancing, staggered working hours, no cross-deployment of staff, and contact tracing. This is why StaffAny will keep providing CICO Global for free to regional businesses until the end of the year. Hopefully, this will help everyone to stay safe and efficient at the workplace, as regional economies start to open up for business again,” explained Janson Seah.

Set up in 2018, StaffAny is a Singapore start-up company that aims to connect human resources and operations within organisations, for greater efficiency, productivity, and better communications among staff. The company is supported by NUS Enterprise, the entrepreneurial arm of the National University of Singapore, incubated at BLOCK71 Singapore, and founded by a team of alumni from the NUS Overseas Colleges programme.

To download photos of Janson Seah and his team at StaffAny, please click here (https://drive.google.com/drive/u/1/folders/1cwBaljV5WYOoAoEzkEYkbTsoQjKcL0b8)

[1] Waiver of CICO Global fees until end-2020 is done as long as businesses sign up before 31 July 2020.

[2] The health declaration is optional. Should employees wish, the health declaration form can be removed.

About StaffAny

StaffAny is a workforce management solution for companies who engage hourly workers. The most common way to manage hourly workers today is to do it via clunky spreadsheets. The process is time-consuming and tedious and we believe more needs to be done.

At StaffAny, we make time for businesses to do what matters. We empower today’s connected workforce with a data-driven approach to managing hourly workers. We have brought smiles to hundreds of paying locations via our integrated scheduling and time tracking Software as a Service (SaaS).

Our job today is to connect HR and ops internally within organisations, and our vision is to enable businesses to be connected to the leaner workforce of tomorrow. For more information, please visit  https://www.staffany.com/. 

Annex A: Pioneering businesses using CICO

Juan Valdez Cafe

Juan Valdez Cafe, a global coffeehouse chain originally from Colombia, South America, has seven outlets with 30 employees in Kuala Lumpur (KL), Malaysia. Since Malaysia’s Movement Control Order (MCO) was imposed on 18 March 2020 to curb the country’s COVID-19 transmission, it has been tough on F&B businesses as they could only do takeaways and deliveries. Although Juan Valdez Cafe’s revenue took a hit, the restaurant adapted its business and took the opportunity to give back to the community. It swiftly got on food delivery mobile apps like Beepit, foodpanda, and GrabFood, expanded its menu offerings, and started its own initiative called “Support Our Local Heroes” to distribute free drinks to frontliners such as healthcare workers, delivery riders, and news reporters. It also launched local favourites at affordable prices to let Malaysians continue enjoying these dishes while supporting local businesses and micro-entrepreneurs during this period of social distancing.

“It is crucial to make sure that our employees comply with all safety measures and come to work healthily, as this in turn helps us fulfill our responsibility towards our customers whose safety is our top concern. Originally, we were using a manual clock-in system where employees had to record attendance, take and log their temperature on a separate form and declare health status manually  on paper upon arriving at work. This was time-consuming, inefficient and not hygienic with unavoidable surface contact made. Keeping these paper records was bulky and in order to  have full sight of employees’ attendance, we needed to visit each outlet. CICO Global has helped in consolidating real-time data logged from all seven outlets onto a single platform, and gives me full visibility over employees’ attendance and overtime. Furthermore, it digitalises temperature and attendance logs in a contactless manner. CICO Global has saved us time, allowed us to become more efficient and have better control over operations and staff allocation. Although COVID-19 has affected our business, being adaptable and open to innovation has allowed us to improve and keep operations smooth, even with the additional measures that we have to comply with, due to the lifting of the conditional MCO,” said Mr Khalip Latif, Director, Juan Valdez Cafe, Klang Valley, Kuala Lumpur, Malaysia.

To download a photo of Khalip Latif at Juan Valdez Cafe, please click here (https://drive.google.com/drive/u/1/folders/1Hz90oLpuKZPlddTodIBY5lqu1YMIS13P).

Foreword Coffee Roasters

Starting in 2017 as a cafe based at the National University of Singapore (NUS), Foreword Coffee Roasters had grown to three outlets staffed by a team of 20. The company is a social enterprise, hiring individuals with disabilities and special needs, as the company recognises their potential and provides inclusive employment and training opportunities within the F&B industry. When the COVID-19 pandemic hit Singapore, Foreword Coffee Roasters was forced to close two of its outlets. The remaining cafe only handles take-away orders and is located at the Centre for Healthcare Innovation in Tan Tock Seng Hospital. To boost its business, Foreword Coffee Roasters has expanded its online shop which offers handcrafted bottled coffee and other products. 

“Healthcare safety has always been paramount for the F&B sector. Previously, employees had to perform SafeEntry whenever they passed any of the entry points at Tan Tock Seng Hospital, log in again later when they reached work, and then log into SafeEntry which was a hassle. Because of this, using CICO was convenient in helping to save time and reduce stress. We have seen a significant increase in our online sales since Circuit Breaker measures came into effect. Due to the popular demand of our bottled coffees, we have just launched a new subscription model, which offers customers discounts when they purchase in bulk. So, using CICO has been a great help for me, as it allows me to monitor who is on-site preparing the drinks, even when I’m not at the cafe,” said Lim Wei Jie, Founder and Director, Foreword Coffee Roasters.

To download a photo of Lim Wei Jie at Foreword Coffee Roasters, please click here (https://drive.google.com/drive/u/1/folders/1Z4y829bB_hp4qgBJyFKHx2Fn_usICUjZ).

Good Luck Beerhouse

The COVID-19 pandemic has upended the F&B sector, and many companies have had to adapt quickly to the digital era to engage with their customers. Good Luck Beerhouse developed an online website, to allow customers to order take-aways from them, in particular their craft beers, which they sell in a 640ml take-away container. Owner Kevin Ngan realised that many of his F&B neighbours along Haji Lane would be in a similar predicament. He invited them onboard his online platform, and together they provide joint deliveries under the ‘Solidarity on Haji Lane’ campaign, so customers can enjoy a range of food items – from gourmet burgers to oysters, dim sum, and prawn mee – paired with their favourite craft beer.

“We’ve had to completely change our understanding of how the F&B environment operates. We kept our team lean, refined operations and spent hours designing new campaigns and fine-tuning our propositions, so the company could survive. And while the additional revenue generated from our ‘Solidarity on Haji Lane’ campaign has been marginal, the solidarity and support for one another is absolutely priceless! Because of this extra work required to keep the business running, we’re definitely grateful for the time saved with the integration of CICO and SafeEntry. Not only is this time saved, but there is greater peace of mind that we are complying with the various measures to stay safe, as we stay open,” said Kevin Ngan, Owner, Good Luck Beerhouse.

To download a photo of GoodLuck Beerhouse’s craft beers, as part of its Solidarity on Haji Lane campaign, please click here (https://drive.google.com/file/d/17gecLAoQ9iY2TMRkz9QTG2X4h-7L9hcb/view).

Phoon Huat

Like most businesses, Phoon Huat – a company that provides baking ingredients and supplies – has been impacted by COVID-19. However, in an unusual turn of events, it has actually led to an increase in B2C sales, as more people are choosing to bake as they stay at home. This has resulted in long queues for certain outlets, and Phoon Huat has had to deploy manpower to help out with queue management. The company currently has 380 employees and began using StaffAny’s enterprise solution mid- 2019 at one of their new outlets, to better manage staff rostering.

“Our employees – in particular their health and safety – are our utmost priority. When Singapore raised our risk assessment to DORSCON Orange, we rolled out StaffAny’s contactless time and attendance taking functions to our headquarters, which also includes our production and logistics operations, to reduce the need for staff to make physical contact when clocking in or out. StaffAny’s solution has been great – we can access all reports, and plan shifts more efficiently. Our original plan was to use StaffAny to get accurate timesheet data, but we are now using StaffAny for data analytics. This is especially useful, as we’ve had to adapt to a change in our business model, after seeing a significant increase in retail sales, and at the same time a drop in B2B sales. In addition, we’ve also had to put in place two teams working at different times in our production and logistics operations, as one of the safe distancing measures in the workplace. And because StaffAny integrates with SafeEntry, it has definitely made checking-in and out much more convenient for our staff. Together with StaffAny, we are doing our best to coordinate efforts, together with the whole nation, to combat COVID-19 together,” said Mr Lee Tjen Chew, CFO, Phoon Huat.

To download a photo of a Phoon Huat employee using CICO to clock-in, please click here (https://drive.google.com/drive/u/1/folders/1ZK6vlNPqsiuBsmzY5p6zbQq2s3WzZJkq).

Photo – https://photos.prnasia.com/prnh/20200623/2837257-1?lang=0

Related Links :

https://www.staffany.com

PR Newswire

HFCL Chooses VVDN as the Development and Manufacturing Partner to Successfully Deliver Industry’s Leading Wireless Access Points and UBR Solutions that are Fully Designed and Manufactured in India Under Make in India Initiative

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GURUGRAM, India, June 23, 2020 — VVDN Technologies, leading product engineering and manufacturing company in India, and HFCL Limited, leading telecom infrastructure developer, system integrator and manufacturer, have collaborated to deliver HFCL’s next generation Wireless product portfolio. HFCL and VVDN have pioneered in designing, developing and manufacturing wide range of Wireless Access Points, P2P and P2MP connectivity solutions in India for global market.

Using the latest networking technologies based on Qualcomm© Networking Pro Platforms, HFCL’s and VVDN’s expert wireless teams have designed and successfully manufactured robust, reliable, and secure Wi-Fi 5 based wireless solutions capable of meeting high-performance requirements that are scalable to deliver extreme density and capacity. In addition, these solutions come with a massively scalable cloud-based network management platform that helps the customers manage any number of network elements from anywhere in the world without having to worry about infrastructure scaling in any single location. The solutions have already been deployed in Indian market and many trials are going on with international customers. Further, adapting to the need of solutions to ease out the ever-increasing network pressures, HFCL is working with VVDN to launch Wi-Fi 6 based wireless solutions for Indian and global markets.

Harpreet Singh, Networking and Wi-Fi BU Head at VVDN, said, “We are pleased to be a partner of HFCL which is consistently empowering innovation with introducing new technologies by promoting Research & Development for end-to-end wireless solutions for high-performance demanding networks. With our new Global Innovation Park setup, VVDN has already expanded its wireless manufacturing facility with dedicated SMT lines, product assembly floors which has led to the increase in our production delivery by 4 times. Having successfully deployed wireless solutions based on Wi-Fi 5 with MU-MIMO and beamforming solutions, HFCL and VVDN are now eyeing Wi-Fi 6 – a new wave in the wireless technologies and gear towards delivering a whole portfolio of wireless solutions by last quarter of this year.”

Bhuvnesh Sachdeva, Vice President, New Product Development, HFCL commented, “Our product development capabilities are continuously taking us forward as a technology enterprise where we develop products with latest technologies with futuristic approach which are cost effective and have our own IPRs. HFCL has been working with leading telcos to meet their demands on the Wireless Products and Solutions. Our goal was to launch a highly reliable Wi-Fi technology solutions that are globally competitive and truly “Make in India“, to bridge the gap that currently exists in the market. Our centers for excellence in research along with invested R&D houses at different locations in India and abroad are working on development of new age technologies. In VVDN Technologies, we found a reliable manufacturing and ODM partner who truly had the capability and potential to deliver as per our requirements and also ensured that we continuously evolve the seamless, connected experiences that our customers demand. We have successfully developed and delivered over 50,000 Access Points, P2P and P2MP radio already in the market and look forward to much more.”

“We are proud to partner with VVDN and HFCL as they enable wireless infrastructure products with cutting-edge technologies and are working closely with them to create and deploy wireless solutions based on Wi-Fi 6. This collaboration will cater to both Indian and global markets while helping grow our Make in India ecosystem. This opportunity is a true manifestation of Made in India for the World,” said Uday Dodla, Sr Director, Business Development, Qualcomm India.

About VVDN

VVDN is a Product Engineering & Manufacturing company focused on designing & manufacturing end-to-end products across several technology vertical markets (5G, Data Center, Vision, Networking, Wi-Fi, IoT, Defense, Cloud & Apps). VVDN serves global customers including US, Canada, Europe, India, Vietnam, Korea, and Japan. VVDN’s head quarter Global Innovation Park is located at Manesar, India and has 9 advanced Product Engineering Centers in India, which are fully equipped to design & test the complete hardware & software required to develop a complete product or solution.

For more details visit: www.vvdntech.com

About HFCL

HFCL Limited is a leading telecom infrastructure  developer, system integrator and manufacturer of high-end telecom equipment and optical fibre cables, having its own manufacturing facilities at Solan and Goa, and its subsidiary i.e. HTL Limited facilities in Chennai and Hosur.

HFCL provides single window solution for telecom projects; offering design, equipment supply, installation, system integration, operation and maintenance services. HFCL is now leveraging its inherent strengths in addressing complex needs of emerging sectors, such as Railway Communication and Signalling, Defence, Homeland Security and also Smart City Projects.

For further information, please contact at: investor@hfcl.com

Qualcomm Networking Pro is a product of Qualcomm Technologies, Inc. and/or its subsidiaries.

Photo – https://techent.tv/wp-content/uploads/2020/06/hfcl-chooses-vvdn-as-the-development-and-manufacturing-partner-to-successfully-deliver-industrys-leading-wireless-access-points-and-ubr-solutions-that-are-fully-designed-and-manufactured-in-india-und.jpg 

PR Newswire

Trip.com Group to revitalize travel with “Travel On” initiative

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SINGAPORE, June 23, 2020 — Leading international travel services provider Trip.com Group today introduced a range of new initiatives to reinvigorate travel, as part of its online “Travel On” launch event. Trip.com Group was joined by more than 70 representatives from over 200 industry partners for the launch of the industry-wide initiative, which attracted an audience of over 1 million viewers worldwide.

With pandemic control improving and travel beginning to show signs of recovery in some markets, today’s event marks the beginning of a new chapter for Trip.com Group, as it brings together the industry once again to revitalize travel with a range of new safety standards, flexibility guarantees, and promotions.

The "Travel On" initiative was led by Trip.com Group Chairman James Liang (pictured)
The “Travel On” initiative was led by Trip.com Group Chairman James Liang (pictured)

“Cherished memories of our previous trips have given us strength throughout this difficult time, and now, as travel becomes possible again, we’re working with our partners to give users the confidence, inspiration and freedom to travel on,” said Trip.com Co-founder and Chairman James Liang.

“At Trip.com, our commitment is to make every trip the perfect trip, and traveller safety is our number one priority,” said Trip.com Group CEO Jane Sun. “We’ve introduced these new measures to make sure that your next trip is as safe and enjoyable as ever.”

Trip.com Group CEO Jane Sun inaugurates the initiative at the “Travel On” launch ceremony.
Trip.com Group CEO Jane Sun inaugurates the initiative at the “Travel On” launch ceremony.

As part of today’s announcement, Trip.com Group partnered with Google to launch a joint Travel Trends Report, finding that interest in short-haul travel is quickly developing, and that in addition to safety, flexibility was the foremost consideration in planning future travel.

In addition to the sector-specific safety commitments introduced at the event, Trip.com Group announced that it would be responding to the changing demands of consumers by waiving change fees with its “Flexibooking” guarantee.

To incentivize travellers and stimulate consumption, Trip.com Group announced the launch of its international “Travel On Sale”, giving customers access to exclusive discounts of up to 60% on flexible advance reservations with over 30,000 hotels situated in more than 180 countries. In tandem with the promotion, the leading online travel services provider introduced a new marketing model, and plans to hold a series of in-destination livestream broadcasts across the world. Building on its efforts in select pilot markets, the series of livestreams will offer further exclusive discounts to viewers, which have to date achieved over USD 70 million in sales and a viewership of millions.

Building on an initial USD 140 million in financial assistance provided to its partners in a number of pilot markets, the leading travel services provider today announced the expansion of its “Travel On Fund”, to help partners from all over the world revitalize their businesses.

“Travel is such an important force for good. It’s what brings us together, and breaks down barriers between us, and what the world needs most right now is the freedom to travel on safely,” said Trip.com Group CEO Jane Sun. “With the measures for safety and flexibility announced today, and these amazing deals and exciting new products on offer, that moment is now. There’s never been a better time to start planning that next trip, and to travel on.”

About Trip.com Group:
Trip.com Group is a leading one-stop travel service provider comprising 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 the 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 best-known travel brands in the world, with the mission of ‘making every trip the perfect trip’.

Photo – https://photos.prnasia.com/prnh/20200623/2837383-1-a?lang=0
Photo – https://photos.prnasia.com/prnh/20200623/2837383-1-b?lang=0
Logo – https://photos.prnasia.com/prnh/20191111/2638489-1-LOGO?lang=0  

Related Links :

https://www.trip.com/