Category Archives: PR Newswire

PR Newswire

Vault Creation, a South Korea etching company, has completed preparations for mass-producing 500ppi FMM for mobile

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Achieving a resolution of 500ppi with proprietary technology and having completed initial setup of a production equipment for mass production

SEOUL, South Korea, Sept. 7, 2023 /PRNewswire/ — Korean dry etching specialized company, Vault Creation Co., Ltd., has announced that it will start selling FMM for smartphones with a resolution of 500ppi, which is an essential component of mobile displays, to demand companies and research institutes that need it from September 1, 2023.

copyright(c) Vault Creation All rights reserved
copyright(c) Vault Creation All rights reserved

Until now, FMM-related companies worldwide have invested astronomical resources exclusively in Japan to develop high-resolution FMM for smartphones. However, it is true that encountered technical limitations without providing practical results.

In this situation, Vault Creation, a South Korea company, which announced its entry into the market, has a golden opportunity to reshape the global FMM industry. As a venture established less than a decade ago in South Korea, Vault Creation has succeed in implementing the world’s best resolution after seven years of research and showed its amazing ability to build mass production facilities in a short time.

FMM(Fine Metal Mask) is a mask used to form Red(R), Green(G), and Blue(B) subpixels in small and medium-sized OLED panels and is a key material in the OLED deposition process. The microring mirroring is uniform and cross-sectional angles, step height, and location precision are required because the deposited organic matter serves as a major component that allows precise deposition only in the TFT(Thin Film Transistor) pixel area. No defects, such as appearance deformation, imprinting, clogging, or sticking, are allowed.

Accordingly, FMM-related companies around the world, including Korea, Mainland China, Japan, and Taiwan have invested heavily in the development of high-resolution FMM using methods like wet or electroplating etching. However, up until now, no company has succeeded in achieving mass production for the market, and supplying or selling to demand sources was simply not possible. This situation has led to complete dependence on Japan for FMM.

Especially, FMM for OLED used in smartphone panel production has been produced by companies such as TOPPAN in Japan and Darwin in Taiwan. However, in practice, a Japanese company DNP(Dai Nippon Printing) has effectively monopolized the global market for OLED FMM.

Since 2015, Vault Creation has developed its own ‘Ion Beam Dry Etching Technology’ to secure global intellectual property and completed FMM development 2 years ago using a low-temperature process, and until recently, it has been confirmed that it has advanced technology for mass production.

The ion beam dry etching technology developed by Vault Creation stands out from another etching process like wet etching or electroplating. It allows etching without damaging the material and leaves no residual impurities. Moreover, using the advantages of dry etching, they claim to be able to manufacture according to the specifications of customers in terms of etching angles and shapes, as required.

CIPO(STEVE JAY) has announced the official start of sales stating, “Until now, the only company capable of providing FMM for the high-resolution market worldwide was Japan’s ‘DNP’. Over the past 7years, we have completed technological development that can diversify this exclusive market and we are fully prepared for mass production to supply 500ppi FMM to any company in need. The supply price can also be offered much more affordably than before, so we encourage all global demand companies to inquire anytime.“

A representative from the display industry said, “Currently, high-resolution FMM production can only be produced in Japan globally. As a result, many companies had problems in the research and development of displays because the supply is limited and not smooth. If the mass production volume of Vault Creation comes to the market, it is expected that much research and development will be activated in the VR and AR industries as well as the research and development of existing high-resolution displays.

Currently, Vault Creation is accepting orders through its website.

* FMM order and contact E-MAIL : fmm@vaultcreation.com

copyright(c) Vault Creation All rights reserved
copyright(c) Vault Creation All rights reserved

PR Newswire

Mouser Electronics Receives Fifth Consecutive APAC e-Catalogue Distributor of the Year Award from Molex

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SHANGHAI, Sept. 6, 2023 /PRNewswire/ — Mouser Electronics, Inc., the industry’s leading New Product Introduction (NPI) distributor with the widest selection of semiconductors and electronic components™, proudly announces that it has received the esteemed APS e-Catalogue Distributor of the Year award from Molex. Mouser received the award in recognition of increased customer count, fastest point-of-sale (POS) growth, inventory management, and overall operational excellence across the Asia Pacific (APAC) region in 2022. Mouser previously won the award for performance in 2021, 2020, 2019, and 2018. Earlier this year, Mouser also received Molex’s Global High Service Distributor of the Year award for the sixth consecutive year.

“We are thrilled to present the Mouser APAC team with this award for the fifth-straight year,” stated Fred Bell, Vice President of Global Distribution at Molex. As a vital component of our business strategy, high-service distribution is paramount, and Mouser’s unparalleled performance and exceptional service truly set them apart. Congratulations to the entire Mouser team on this achievement.”

“We are truly delighted to receive this prestigious award from Molex. Our partnership with Molex is highly valued, and we are committed to providing best-in-class service, fostering innovation, and promoting collaboration to meet the diverse needs of our customers. We eagerly look forward to building on this success and achieving even greater milestones in the coming years.” said Daphne Tien, Vice President of Marketing and Business Development for Mouser APAC.

Mouser provides design engineers with access to over 31,000 Molex products in stock and ready for shipment. To learn more, visit https://www.mouser.com/manufacturer/molex/.

For a comprehensive archive of technical articles, infographics, videos and more from Molex, go to https://molex.mouser.com/.

About Mouser Electronics

Mouser Electronics, a Berkshire Hathaway company, is an authorized semiconductor and electronic component distributor focused on New Product Introductions from its leading manufacturer partners. Serving the global electronic design engineer and buyer community, the global distributor’s website, mouser.com, is available in multiple languages and currencies and features more than 6.8 million products from over 1,200 manufacturer brands. Mouser offers 27 support locations worldwide to provide best-in-class customer service in local language, currency and time zone. The distributor ships to over 650,000 customers in 223 countries/territories from its 1 million-square-foot, state-of-the-art distribution facilities in the Dallas, Texas, metro area. For more information, visit https://www.mouser.com/.

PR Newswire

QSAN Launches XCubeNXT 8100 & 5100: Enterprise Unified Storage with Cross-Platform Replication

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TAIPEI, Sept. 6, 2023 /PRNewswire/ — QSAN Technology, Inc., a global leader in enterprise storage solutions, released the new XCubeNXT 8100 & 5100 series next generation high-performance all-in-one unified storage with compact architecture for mixed to enterprise workloads. The latest XCubeNXT series supports multiple protocols and features industry-leading cross-platform replication across all QSAN platforms, reshaping industry standards and ushering in a new era of streamlined storage management. These new products are backed by a 5-year limited warranty for proven enterprise-grade reliability.

Versatile Support for Demanding Environments
XCubeNXT offers block and file support along with data backup and disaster recovery services. It is backed by powerful scale-up capabilities, making it suitable for modern enterprise applications such as containerization, virtualization, file sharing, backup, media environments, and surveillance.

Modern Simplicity with QSM
QSAN Storage Management (QSM) system redefines ease of use, reducing the learning curve and simplifying maintenance. The intuitive GUI offers a swift setup, enabling data access within five minutes of installation. Boasting support for multiple protocols and cross QSAN platform replication, QSM streamlines management and fosters seamless integration.

Dependable Data Experience
99.9999% high availability design with no single point of failure. Cache-to-flash to protect cache data in power outages and non-disruptive firmware upgrades ensures continuous data service with zero downtime.

Adaptive Scalability
Equipped with dual controllers featuring built-in 4-port 10 GbE (SFP+) and a maximum of 26 host ports, XCubeNXT allows direct connections to multiple hosts. It scales to 16.7 PB and uses the Wake-on-SAS feature for remote power management in XCubeDAS expansion units, boosting energy efficiency.

Extended to 5-year limited warranty
“The XN8100 and XN5100 mark a pivotal moment. From addressing diverse needs, be it everyday workloads or high-performance demands. Streamlining management and eradicating data silos, signifies a leap forward in optimized data utilization. We especially extend the product to a 5-year limited warranty to give back to QSAN’s customers.” Said Steven Lin, Global Sales and Marketing VP of QSAN.

About QSAN
Dedicated to data storage and protection, QSAN, a forward-looking pioneer in the IT industry, offers uncomplicated, secure, and reliable solutions for businesses of all sizes. These solutions aid our global partners and customers in digital transformation by delivering exceptional performance and value tailored to their workloads, applications, budgets, and business requirements.
For further information, visit www.QSAN.com.

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CONTACT: QSAN Marketing, +886-886-2-7720-2118*208, marketing@qsan.com

PR Newswire

Global Cybersecurity Leader NTT Offers SaaS Subscriptions to its Patented XDR Platform

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With the launch of Samurai XDR SaaS, businesses of every size now have access to enterprise-level threat detection and response

TOKYO, Sept. 5, 2023 /PRNewswire/ — NTT Security Holdings today announced the launch of Samurai XDR SaaS, making their advanced threat detection and response system accessible to organizations of all sizes for just $40 per endpoint per year.

Samurai XDR SaaS interface in high resolution for detail
Samurai XDR SaaS interface in high resolution for detail

The cloud-hosted solution requires no infrastructure deployment, providing SMBs an affordable way to leverage NTT’s real-time threat intelligence gathered across its global network. Samurai XDR integrates seamlessly with major security brands like CrowdStrike, Microsoft, Fortinet, Cisco and Palo Alto Networks.

The self-service platform allows companies to identify and respond to threats proactively using AI and behavioral analytics. Samurai XDR gives users visibility and control across network, endpoint, cloud, email and more through an intuitive interface. With no long-term contracts, Samurai XDR SaaS combines the power of NTT’s enterprise-grade technology with the flexibility and affordability SMBs need to protect against modern cyber threats.

“Samurai XDR SaaS represents the next level in cybersecurity,” said Shinichi Yokohama, Chief Executive Officer at NTT Security Holdings. “This cloud-based solution empowers businesses of all sizes with enterprise-grade security capabilities, effectively leveling the playing field against the most sophisticated cyber threats.”

Samurai XDR SaaS benefits from NTT’s global threat intelligence network, one of the largest T1 internet backbones in the world. This grants unique real-time visibility into emerging threats, allowing businesses to proactively respond to malicious activity. Samurai XDR uses artificial intelligence and behavioral analytics to strengthen detection and response capabilities across the network.

“With the launch of Samurai XDR SaaS,” added Yokohama, “NTT is democratizing cybersecurity. The modern threat landscape requires businesses to adapt, and we’re enabling them to do so effectively and affordably, regardless of their size.”

NTT invites businesses to experience the future of cybersecurity with a free trial of Samurai XDR SaaS.

For more information, visit https://www.samurai.security.ntt/extended-detection-and-response

Samurai XDR SaaS interface
Samurai XDR SaaS interface
Samurai XDR SaaS promotion with interface and headline.
Samurai XDR SaaS promotion with interface and headline.
PR Newswire

Nippon Express (China) Named One of “Top 50 Chinese Logistics Companies” in 2023 for Seventh Consecutive Year

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TOKYO, Sept. 5, 2023 /PRNewswire/ — Nippon Express (China) Co., Ltd. (hereinafter “NX China”), a group company of NIPPON EXPRESS HOLDINGS, INC., was designated one of the “Top 50 Chinese Logistics Companies for 2023,” the only Japanese company to be so honored, at the China Logistics Situation Development Analysis Conference and Top 50 Logistics Enterprises Forum jointly hosted by the China Federation of Logistics & Purchasing and Hebei Transportation Investment Group Corporation in Wuhan, China, on August 3.

Logo: https://kyodonewsprwire.jp/img/202308298606-O1-7HuK79tp 

Image:
https://cdn.kyodonewsprwire.jp/prwfile/release/M103866/202308298606/_prw_PI2fl_7SaH3Q9O.jpg 

This event has been held annually since 2005 by the China Federation of Logistics & Purchasing to select the “Top 50 Chinese Logistics Companies” from among tens of thousands of Chinese and foreign logistics companies in China based on statistical logistics revenue data. Inclusion among the Top 50 is determined by such management benchmarks as sales, company size, growth potential and profitability. Approximately 600 logistics company representatives and experts from all over China participated in this year’s event, and NX China placed among the Top 50 for the seventh consecutive year since 2017.

The Nippon Express Group will continue helping customers develop their business activities by offering international transport services utilizing its global network and further expanding its logistics functions within China to realize its long-term vision of becoming a logistics company with a strong presence in the global market.

Nippon Express website: https://www.nipponexpress.com/ 

Nippon Express Group’s official LinkedIn account:
https://www.linkedin.com/company/nippon-express-group/ 

Source: NIPPON EXPRESS HOLDINGS, INC.

PR Newswire

Trip.com Group Limited Reports Unaudited Second Quarter and First Half of 2023 Financial Results

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SHANGHAI, Sept. 5, 2023 /PRNewswire/ — Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) (“Trip.com Group” or the “Company”), a leading one-stop travel service provider of accommodation reservation, transportation ticketing, packaged tours, and corporate travel management, today announced its unaudited financial results for the second quarter and first half of 2023.

Key Highlights for the Second Quarter of 2023

  • Domestic and international business continued to show robust recovery in the second quarter of 2023

– Domestic hotel bookings grew by 170% year over year and by over 60% compared to the pre-COVID level for the same period in 2019.
– Outbound hotel and air reservations recovered to over 60% of the pre-COVID level for the same period in 2019, surpassing the industry-wide recovery rate of 37% in terms of international air passenger volume for the same period.
– Air ticket bookings on the Company’s global OTA platform grew by over 120% year over year and nearly doubled compared to the pre-COVID level for the same period in 2019.

  • The Company delivered strong results in the second quarter of 2023 

– Total net revenue increased by 180% year over year and exceeded the pre-COVID level for the same period in 2019 by 29%.
– Net income for the second quarter was RMB648 million (US$91 million), which improved from RMB43 million for the same period in 2022.
– Adjusted EBITDA for the second quarter was RMB3.7 billion (US$507 million). Adjusted EBITDA margin was 33%, compared to 9% for the same period in 2022 and 31% for the previous quarter.

“During the second quarter of 2023, the demand for both domestic and international travel remained resilient.” said James Liang, Executive Chairman. “Despite limited air capacity recovery, the robust rebound of travel activities reflects travelers’ strong desire to explore the world. We remain optimistic about the enduring demand for travel and the long-term market outlook.”

“We are encouraged by our solid results in the second quarter,” said Jane Sun, Chief Executive Officer. “With the thriving market demand and our outstanding performance, we are poised to take the lead in driving the industry’s recovery and actively creating an abundance of job opportunities alongside our esteemed business partners.”

Second Quarter of 2023 Financial Results and Business Updates

The Company’s business continued to recover significantly since the pent-up demand for travel remains strong, which led to an increasing volume of travel bookings.

For the second quarter of 2023, Trip.com Group reported net revenue of RMB11.2 billion (US$1.6 billion), representing a 180% increase from the same period in 2022 and a 22% increase from the previous quarter, primarily due to the substantial recovery of travel market.

Accommodation reservation revenue for the second quarter of 2023 was RMB4.3 billion (US$591 million), representing a 216% increase from the same period in 2022 and a 23% increase from the previous quarter, primarily due to the substantial recovery of travel market.

Transportation ticketing revenue for the second quarter of 2023 was RMB4.8 billion (US$664 million), representing a 173% increase from the same period in 2022 and a 16% increase from the previous quarter, primarily due to the substantial recovery of travel market.

Packaged-tour revenue for the second quarter of 2023 was RMB722 million (US$100 million), representing a 492% increase from the same period in 2022 and an 87% increase from the previous quarter, primarily due to the substantial recovery of travel market.

Corporate travel revenue for the second quarter of 2023 was RMB584 million (US$81 million), representing a 178% increase from the same period in 2022 and a 31% increase from the previous quarter, primarily due to the substantial recovery of travel market.

Cost of revenue for the second quarter of 2023 increased by 106% to RMB2.0 billion (US$277 million) from the same period in 2022 and increased by 23% from the previous quarter, primarily due to the substantial recovery of travel market. Cost of revenue as a percentage of net revenue was 18% for the second quarter of 2023.

Product development expenses for the second quarter of 2023 increased by 67% to RMB3.0 billion (US$407 million) from the same period in 2022 and increased by 10% from the previous quarter, primarily due to an increase in product development personnel related expenses. Product development expenses as a percentage of net revenue was 26% for the second quarter of 2023.

Sales and marketing expenses for the second quarter of 2023 increased by 185% to RMB2.4 billion (US$325 million) from the same period in 2022 and increased by 34% from the previous quarter, primarily due to an increase in expenses relating to sales and marketing promotion activities. Sales and marketing expenses as a percentage of net revenue was 21% for the second quarter of 2023.

General and administrative expenses for the second quarter of 2023 increased by 58% to RMB955 million (US$132 million) from the same period in 2022 primarily due to an increase in general and administrative personnel related expenses and increased by 7% from the previous quarter. General and administrative expenses as a percentage of net revenue was 8% for the second quarter of 2023.

Income tax expense for the second quarter of 2023 was RMB562 million (US$77 million), compared to RMB173 million for the same period in 2022 and RMB341 million for the previous quarter. The change in Trip.com Group’s effective tax rate was primarily due to the combined impacts of changes in respective profitability of its subsidiaries with different tax rates, certain non-taxable income or loss resulting from the fair value changes in equity securities investments and exchangeable senior notes, and changes in valuation allowance provided for deferred tax assets.

Net income for the second quarter of 2023 was RMB648 million (US$91 million), compared to RMB43 million for the same period in 2022 and RMB3.4 billion for the previous quarter. Adjusted EBITDA for the second quarter of 2023 was RMB3.7 billion (US$507 million), compared to RMB355 million for the same period in 2022 and RMB2.8 billion for the previous quarter. Adjusted EBITDA margin was 33% for the second quarter of 2023, compared to 9% for the same period in 2022 and 31% for the previous quarter.

Net income attributable to Trip.com Group’s shareholders for the second quarter of 2023 was RMB631 million (US$89 million), compared to RMB69 million for the same period in 2022 and RMB3.4 billion for the previous quarter. Excluding share-based compensation charges, fair value changes of equity securities investments and exchangeable senior notes recorded in other income/(expense) and their tax effects, non-GAAP net income attributable to Trip.com Group’s shareholders for the second quarter of 2023 was RMB3.4 billion (US$475 million), compared to non-GAAP net loss attributable to Trip.com Group’s shareholders of RMB203 million for the same period in 2022 and non-GAAP net income attributable to Trip.com Group’s shareholders of RMB2.1 billion for the previous quarter.

Diluted earnings per ordinary share and per ADS was RMB0.94 (US$0.13) for the second quarter of 2023. Excluding share-based compensation charges, fair value changes of equity securities investments and exchangeable senior notes and their tax effects, non-GAAP diluted earnings per ordinary share and per ADS was RMB5.11 (US$0.70) for the second quarter of 2023. Each ADS currently represents one ordinary share of the Company.

As of June 30, 2023, the balance of cash and cash equivalents, restricted cash, short-term investment, held to maturity time deposit and financial products was RMB75.0 billion (US$10.3 billion).

Conference Call

Trip.com Group’s management team will host a conference call at 8:00 PM EST on September 4, 2023 (or 8:00 AM CST on September 5, 2023) following this announcement.

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

All participants must pre-register to join this conference call using the Participant Registration link below:
https://register.vevent.com/register/BI90bc7b46919e4b55a896bf30b59d4a4a 

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

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 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, 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 or shares, 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, the impact of COVID-19 to Trip.com Group’s business operations, 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 the variable interest entities and the contractual arrangements among Trip.com Group, the variable interest entities and their shareholders, and other risks outlined in Trip.com Group’s filings with the U.S. Securities and Exchange Commission or the Stock Exchange of Hong Kong Limited. 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 consolidated financial statements, which are prepared and presented in accordance with United States Generally Accepted Accounting Principles (“GAAP”), Trip.com Group uses non-GAAP financial information related to adjusted net income attributable to Trip.com Group Limited, adjusted EBITDA, adjusted EBITDA margin, and adjusted diluted earnings per ordinary share and per ADS, each of which is adjusted from the most comparable GAAP result to exclude the share-based compensation charges that are not tax deductible, fair value changes of equity securities investments and exchangeable senior notes, net of tax, and other applicable items. 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, does not have a standardized meaning under 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, fair value changes of equity securities investments and exchangeable senior notes and their tax effects 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; HKEX: 9961) is a leading global one-stop travel platform, integrating a comprehensive suite of travel products and services and differentiated travel content. It is the go-to destination for travelers in China, and increasingly for travelers around the world, to explore travel, get inspired, make informed and cost-effective travel bookings, enjoy hassle-free on-the-go support, and share travel experience. Founded in 1999 and listed on Nasdaq in 2003 and HKEX in 2021, the Company currently operates under a portfolio of brands, including Ctrip, Qunar, Trip.com, and Skyscanner, with the mission “to pursue the perfect trip for a better world.”

For further information, please contact:

Investor Relations

Trip.com Group Limited
Tel: +86 (21) 3406-4880 X 12229
Email: iremail@trip.com

Trip.com Group Limited

Unaudited Consolidated Balance Sheets

(In millions, except share and per share data)

December 31, 2022

June 30, 2023

June 30, 2023

RMB (million)

RMB (million)

USD (million)

ASSETS

Current assets:

Cash, cash equivalents and restricted cash

18,487

36,843

5,080

Short-term investments

25,545

18,532

2,556

Accounts receivable, net 

5,486

10,689

1,474

Prepayments and other current assets 

11,917

17,028

2,348

Total current assets

61,435

83,092

11,458

Property, equipment and software

5,204

5,192

716

Intangible assets and land use rights

12,825

12,738

1,757

Right-of-use asset

819

715

99

Investments (Includes held to maturity time deposit and
financial products of RMB15,527 million and RMB19,581
million as of December 31,2022 and June 30, 2023,
respectively)

50,177

54,757

7,551

Goodwill

59,337

59,382

8,189

Other long-term assets

570

624

86

Deferred tax asset

1,324

1,716

237

Total assets

191,691

218,216

30,093

LIABILITIES

Current liabilities:

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

32,674

32,414

4,470

Accounts payable

7,569

14,729

2,031

Advances from customers

8,278

13,505

1,862

Other current liabilities

12,718

15,029

2,073

Total current liabilities

61,239

75,677

10,436

Deferred tax liability

3,487

3,647

503

Long-term debt

13,177

19,697

2,716

Long-term lease liability

534

484

67

Other long-term liabilities

235

310

43

Total liabilities

78,672

99,815

13,765

SHAREHOLDERS’ EQUITY

Total Trip.com Group Limited shareholders’ equity

112,283

117,649

16,224

Non-controlling interests

736

752

104

Total shareholders’ equity

113,019

118,401

16,328

Total liabilities and shareholders’ equity

191,691

218,216

30,093

Trip.com Group Limited

Unaudited Consolidated Statements of Income/(Loss)

(In millions, except share and per share data)

Three Months Ended

Six Months Ended

June 30, 2022

March 31, 2023

June 30, 2023

June 30, 2023

June 30, 2022

June 30, 2023

June 30, 2023

RMB (million)

RMB (million)

RMB (million)

USD (million)

RMB (million)

RMB (million)

USD (million)

Revenue:

Accommodation reservation 

1,357

3,480

4,285

591

2,807

7,765

1,071

Transportation ticketing 

1,763

4,156

4,814

664

3,426

8,970

1,237

Packaged-tour 

122

386

722

100

246

1,108

153

Corporate travel

210

445

584

81

432

1,029

142

Others

564

744

857

118

1,216

1,601

221

Total revenue

4,016

9,211

11,262

1,554

8,127

20,473

2,824

Less: Sales tax and surcharges

(5)

(13)

(15)

(2)

(7)

(28)

(4)

Net revenue

4,011

9,198

11,247

1,552

8,120

20,445

2,820

Cost of revenue

(976)

(1,637)

(2,007)

(277)

(2,043)

(3,644)

(502)

Gross profit

3,035

7,561

9,240

1,275

6,077

16,801

2,318

Operating expenses:

Product development *

(1,772)

(2,674)

(2,953)

(407)

(3,746)

(5,627)

(776)

Sales and marketing *

(826)

(1,755)

(2,355)

(325)

(1,669)

(4,110)

(567)

General and administrative *

(604)

(891)

(955)

(132)

(1,188)

(1,846)

(255)

Total operating expenses

(3,202)

(5,320)

(6,263)

(864)

(6,603)

(11,583)

(1,598)

(Loss)/income from operations

(167)

2,241

2,977

411

(526)

5,218

720

Interest income 

544

441

513

71

1,135

954

132

Interest expense

(351)

(486)

(555)

(77)

(692)

(1,041)

(144)

Other income/(expense)

469

1,652

(1,961)

(270)

(238)

(309)

(43)

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

495

3,848

974

135

(321)

4,822

665

Income tax expense

(173)

(341)

(562)

(77)

(159)

(903)

(124)

Equity in (loss)/gain of affiliates

(279)

(133)

236

33

(478)

103

14

Net income/(loss)

43

3,374

648

91

(958)

4,022

555

Net loss/(income) attributable to non-
controlling interests

26

1

(17)

(2)

38

(16)

(2)

Net income/(loss) attributable
to Trip.com Group Limited

69

3,375

631

89

(920)

4,006

553

Earnings/(losses) per ordinary share 

– Basic

0.10

5.18

0.97

0.13

(1.42)

6.14

0.85

– Diluted

0.10

5.02

0.94

0.13

(1.42)

5.98

0.82

Earnings/(losses) per ADS 

– Basic

0.10

5.18

0.97

0.13

(1.42)

6.14

0.85

– Diluted

0.10

5.02

0.94

0.13

(1.42)

5.98

0.82

Weighted average ordinary shares outstanding 

– Basic

647,866,001

651,849,468

653,392,956

653,392,956

647,843,829

652,625,256

652,625,256

– Diluted

650,906,465

672,743,729

671,942,381

671,942,381

647,843,829

670,838,392

670,838,392

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

  Product development 

146

179

234

32

253

413

57

  Sales and marketing 

28

31

44

6

46

75

10

  General and administrative 

130

168

219

30

228

387

53

Trip.com Group Limited

Unaudited Reconciliation of  GAAP and Non-GAAP Results

(In millions, except %, share and per share data)

Three Months Ended

Six Months Ended

June 30, 2022

March 31, 2023

June 30, 2023

June 30, 2023

June 30, 2022

June 30, 2023

June 30, 2023

RMB (million)

RMB (million)

RMB (million)

USD (million)

RMB (million)

RMB (million)

USD (million)

Net income/(loss)

43

3,374

648

91

(958)

4,022

555

Less: Interest income

(544)

(441)

(513)

(71)

(1,135)

(954)

(132)

Add: Interest expense

351

486

555

77

692

1,041

144

Add: Other (income)/expense

(469)

(1,652)

1,961

270

238

309

43

Add: Income tax expense

173

341

562

77

159

903

124

Add: Equity in loss/(income) of affiliates

279

133

(236)

(33)

478

(103)

(14)

(Loss)/income from operations

(167)

2,241

2,977

411

(526)

5,218

720

Add: Share-based compensation

304

378

497

68

527

875

120

Add: Depreciation and amortization

218

201

204

28

445

405

56

Adjusted EBITDA

355

2,820

3,678

507

446

6,498

896

Adjusted EBITDA margin

9 %

31 %

33 %

33 %

5 %

32 %

32 %

Net income/(loss) attributable to Trip.com Group Limited

69

3,375

631

89

(920)

4,006

553

Add: Share-based compensation

304

378

497

68

527

875

120

Add: (Gain)/loss from fair value changes of equity securities
investments and exchangeable senior notes

(668)

(1,648)

2,351

324

117

703

97

Add: Tax effects on fair value changes of equity securities
investments and exchangeable senior notes

92

(40)

(45)

(6)

37

(85)

(12)

Non-GAAP net (loss)/income attributable to Trip.com Group
Limited

(203)

2,065

3,434

475

(239)

5,499

758

Weighted average ordinary shares outstanding-
 Diluted-non GAAP 

647,866,001

672,743,729

672,031,445

672,031,445

647,843,829

670,838,392

670,838,392

Non-GAAP Diluted (losses)/income per share 

(0.31)

3.07

5.11

0.70

(0.37)

8.20

1.13

Non-GAAP Diluted (losses)/income per ADS 

(0.31)

3.07

5.11

0.70

(0.37)

8.20

1.13

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=RMB7.2513 on June 30, 2023 published by the Federal Reserve Board.
PR Newswire

“With Saudi, Go Global” Huawei Cloud Launches Services in Saudi Arabia

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RIYADH, Saudi Arabia, Sept. 4, 2023 /PRNewswire/ — Huawei Cloud announced the launch of the Huawei Cloud Riyadh Region today at the Huawei Cloud Summit Saudi Arabia 2023. This Region will help promote digital-led economic growth in the country.

The launch of the Huawei Cloud Riyadh Region announced that the Saudi Arabia Region will be Huawei Cloud’s focus in serving the Middle East, Central Asia and Africa, providing innovative, reliable, secure, and sustainable cloud services. This achievement underscores Huawei CLOUD’s unwavering dedication to supporting Saudi Arabia’s Vision 2030, aligned with the nation’s ambitious technological advancement, leadership, and innovation goals.

H.E. Eng. Haitham bin Abdul Rahman Al-Ohali, Vice Minister at the Ministry of Communications and Information Technology (MCIT) in Saudi Arabia, shared his perspective on this monumental achievement: “Huawei is a proud partner in our country’s technological progress having worked with the Ministry, service providers, enterprises and universities in various collective efforts towards digital transformation. We look forward to the transformative impact the Huawei Cloud Riyadh Region will have on our digital ecosystem, creating new avenues for innovation and growth.“

The Riyadh Region provides several benefits to customers. First, this region translates Huawei’s global expertise on digital transformation into industries’ excellence, making innovation easier and faster. Huawei Cloud Saudi Region is located in Riyadh and through a 3AZ (availability zone) architecture, it will provide highly available and secure cloud services, ensuring the stable operations of various services. In addition, the Region can provide full-stack cloud services, including infrastructure, databases, containers, big data, and AI services to meet the requirements of various industries.

Based on the 3AZ high-reliability architecture, the Riyadh Region provides low latency, covering all existing carriers’ networks powered by STC, Zain, and Mobily. The local data center will store data locally in line with local data regulations. The company will also launch 68 cloud services in three categories – data, AI, and cloud native.

Steven Yi, Senior Vice President of Huawei and President of Huawei Middle East and Central Asia Region, said: “I’ve cherished numerous unforgettable moments in this extraordinary country. Just yesterday, walking through the newly renovated Diriyah evoked my deep emotions. It brought to mind an old Chinese saying: ‘Build the right nest, and a Phoenix will come.’ The essence is clear: create an inviting environment, and you’ll attract the best. This is undeniably true for Saudi, a nation that consistently attracts top investors.”

The company revealed that Huawei Cloud will utilize a number of industry-leading technologies to advance intelligence for Saudi Arabia, including the Pangu Models 3.0, which address AI adoption challenges, leveraging industry insights to enhance AI capabilities across sectors like finance, government, manufacturing, and more. Pangu Models 3.0 will usher in a new era of innovation in the Kingdom while accelerating economic diversification.

At the Huawei Cloud Summit Saudi Arabia 2023, the company also released the “Saudi Arabia Go Cloud Go Global” program to connect Chinese and Saudi enterprises, fostering growth and innovation. The company will leverage its strong experience of working in more than 170 countries and regions, various industries, advanced technologies, and solutions to help Chinese enterprises enter Saudi Arabia and enhance partnerships with local stakeholders.

Jacqueline Shi, President of Huawei Cloud Global Marketing and Sales Service, said, “Huawei Cloud aims high, aims global, and aims here in Saudi Arabia. Saudi Arabia Region will be our focus in serving the Middle East, Central Asia and Africa, providing innovative, reliable, secure, and sustainable cloud services. We hope to create a better choice for advancing intelligence. This cloud gives you more choices to stay innovative, inclusive, and open.  This cloud will help you succeed in the digital and intelligent era. This cloud is for everyone.”

At the event, the company also announced that Huawei Cloud will train 200,000 developers in Saudi Arabia in the next five years. It will also build joint solutions with 1,000 local partners and launch the Huawei Cloud Startup Program to help 2,000 startups grow.

Eric Yang, CEO of Huawei Saudi Arabia, said: “We are proudly launching Huawei Cloud Riyadh Region today. It has been a great journey for us in Saudi Arabia for the last 20 years. Huawei is a constructor for an intelligent society, contributor to a thriving economy, and cultivator for a prosperous talent ecosystem. Towards 2030, we will stay dedicated to continuously providing ubiquitous connectivity, green energy, pervasive cloud computing and AI capabilities for Saudi Arabia to unlock unlimited opportunities of the new digital era.”

Huawei Saudi Arabia was founded in 2002 and has played a pivotal role in the digital transformation in Saudi Arabia. Over the course of 19 years, Huawei has collaborated with regional communication service providers (CSPs) to provide reliable network assurance for the Hajj pilgrimage in Saudi Arabia without incidents. The company also supported the roll-out of 5G in the Kingdom, enabling the country to become one of the world’s pioneer 5G markets. Huawei has helped connect 3.5 million people in rural areas, created 20,000 local jobs, and cultivated 10,000 ICT talents for Saudi Arabia.

Under its “Everything as a Service” strategy, Huawei Cloud is focused on becoming the cloud foundation and enabler of industry digitalization, providing services for customers in more than 170 countries and regions worldwide.

PR Newswire

Gaabor Launches Spectacular 9.9 Promotion This September in the Philippines

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MANILA, Philippines, Sept. 4, 2023 /PRNewswire/ — Leading household appliance brand Gaabor is bringing great deals to shoppers as the year-end shopping season in the Philippines officially starts with the 9.9 Super Shopping Day. With a strong focus on product quality and specialization in kitchen appliances and household cleaning, Gaabor aims to revolutionize the market.

From September 9th to 11th, embark on a shopping journey like never before with Gaabor’s 9.9 sale this September. Get ready to unlock discounts of up to 80% OFF on a diverse range of must-have products on TikTok, Shopee, and Lazada.

Here are some incredible products:

  • 1.8L Mini Rice Cooker: A versatile cooker with a non-stick inner pot and a steamer.
  • Multifunctional Breakfast Sandwich Maker: Makes breakfast preparation easy.
  • 2L Airfryer – Dorm Friendly: Compact airfryer suitable for smaller spaces.
  • 4.5L Airfryer – LARGE CAPACITY, 60 mins timer: Spacious airfryer with a 60-minute timer.
  • 2 in 1 Electric Pot with 2L Capacity 600w High Power: Convenient electric pot with high power.
  • 3L Intelligent Rice Cooker, One-click Quick Cooking: Smart rice cooker with quick cooking functionality.

And that’s not all, some freebies and vouchers can save you up to 200%!

Gaabor’s ethos centers around bringing the essence of a “Prime Life” to everyone. This means making things easier and affordable while having a wide range of products for all aspects of modern life.

With a focus on what users need and using more than a decade of strong technology, Gaabor is rewriting the rules of daily routines and gaining recognition in local markets throughout Southeast Asia.

From bustling household products to the serene corners of personal spaces, Gaabor products seamlessly integrate into diverse scenarios, making life more comfortable and efficient while ensuring that it has something for everyone. Gaabor is revolutionizing the way we approach our daily routines, offering convenience, affordability, and an abundance of possibilities— one where quality is never compromised.

To be updated on Gaabor’s Newest Sales, Stay connected, inspired, and informed by following Gaabor on Facebook, Instagram, and TikTok!

PR Newswire

Dreame Technology Launches Revolutionary Flagship Robotic Vacuum L20 Ultra with Industry First* AI-Driven MopExtend™ Technology at IFA 2023

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SAN FRANCISCO, Sept. 4, 2023 /PRNewswire/ — Dreame Technology, the industry leader in home appliances, is launching its new flagship robotic vacuum L20 Ultra, featuring leap-forward technology, at IFA 2023. Held in Berlin from September 1st to September 5th, the world’s renowned consumer electronics and home appliances show is the perfect setting to showcase the L20 Ultra’s features, including the new breakthrough AI-driven MopExtend™ technology, which provides in-depth edge cleaning. The L20 Ultra also offers several other powerful features that provide a revolutionary cleaning experience for its users.

Dreame Technology Launches Revolutionary Flagship Robotic Vacuum L20 Ultra with Industry First* AI-Driven MopExtend™ Technology at IFA 2023
Dreame Technology Launches Revolutionary Flagship Robotic Vacuum L20 Ultra with Industry First* AI-Driven MopExtend™ Technology at IFA 2023

The L20 Ultra is the latest release in smart home appliances from Dreame Technology, which takes detailed cleaning to a whole new level, a fully automatic robotic vacuum that cleans floors and cleans itself. In addition, L20 Ultra will be the first product with Dreame Technology’s brand new logo, leading the brand new era of Dreame Technology.

Industry First* AI-Driven MopExtend™ Technology

Aiming to tackle the difficulty that edge cleaning always leaves much space , Dreame Technology has developed its own exclusive core technologies, Mop-Extend™ and Duo-Scrub™ mopping system, to provide a better solution to such predicament.

Industry First AI-Driven MopExtend™ Technology
Industry First AI-Driven MopExtend™ Technology

The featured Mop-Extend™ technology incorporates several Position Sensitive Detectors, which are able to automatically and precisely identify corners and edges. When corners and edges are identified, Mop-Extend™ technology will be further activated and extend the mop to the wall edges as closely as possible, for a deeper, closer, and corner-to-corner cleaning experience. Furthermore, the algorithms of Mop-Extend™ technology can help L20 Ultra to excel in terms of edge cleaning in even complex house environments, ensuring that consumers’ edge cleaning needs are addressed more thoroughly and efficiently.

Equipped with two high-speed rotary mops in its Duo-Scrub™ mopping system, L20 Ultra is designed to tackle stubborn stains and worn-in dirt. In addition, the L20 Ultra has built-in dirt detection technology, which uses data garnered from previous cleaning cycles to detect whether the rooms require additional cleaning. For example, the L20 Ultra can respond to seasonal changes and the associated impact, such as pet fur, pollen or additional dirt brought into the home, and uses that information to deliver a level of cleaning synchronized with Dreame Technology’s home appliances.

Automatic All-round Performance

Featuring the newly upgraded automatic base station, L20 Ultra can offer consumers an even more automatic cleaning experience, compared to the previous models. With DualBoost 2.0 technology and a 3.2L dust bag, the automatic base station can store the dust for up to 75 days without users having to manually take out the dust. Other than that, L20 Ultra can also clean and dry the mop by itself. When the mops get dirty, they will be washed within the automatic base station with a 4.5L water tank. After the self-cleaning is finished, the mops will be rapidly dried with hot air, which can last up to 2 hours, to prevent mildew formation and bad odors.

Automatic All-round Performance
Automatic All-round Performance

Automation is also leveled up with auto water refilling and auto cleaning solutions refilling. L20 Ultra will automatically refill the water tank to keep the mop wet, in preparation for efficient cleaning at any time. Nevertheless, the cleaning solutions can also be automatically refilled to save the users from many troubles.

Advanced Cleaning System

L20 ultra is designed to deliver unparalleled performance to its users with its advanced cleaning system and different functions to cope with different house environments.

With Dreame Technology’s advanced Vormax™ Suction System, L20 Ultra optimizes vacuuming efficiency  to pull household debris up from rugs, out of carpets, and off of hard floors. The powerful Vormax™ Suction System packs 7,000Pa of suction power for excellent vacuuming. This power guarantees effective dust removal while achieving a remarkable high pick-up rate. And the liftable rubber brush provides easy hair detangling with mop-removal technology for a powerful cleaning within an adaptable design.

Moreover, L20 Ultra is well equipped with ultrasonic carpet recognition and mop-removal technology combined for enhanced carpet and rug cleaning. When carpets and rugs are recognized, users can decide which option to conduct from three carpet cleaning options: mops removal, mops raising, or carpet avoidance, coping with different kinds of carpets and rugs or avoiding wetting carpets and rugs at all.

Advanced Cleaning System
Advanced Cleaning System

Other intelligent features include Pathfinder™ Smart Navigation, which uses AI learning and 3D structure light technology to scan the room ahead, recognize any obstacles and avoid them, preventing items that may have been left on the floor by mistake from being vacuumed up, which, in turn, prevents interruptions in your planned cleaning process and ensures completion of the task at hand.

Intelligent Environment Sensing
Intelligent Environment Sensing

The flagship L20 Ultra combines upgraded power, AI technology, and years of R&D to deliver a robotic vacuum that will prove to be a revolution in cleaning for its user. The leap-forward introduction of Mop Extend™ Technology delivers superior cleaning, enabling the L20 Ultra to get closer to hard-to-reach edges, as well as clean in between furniture and smaller spaces.

Price And Availability

This compact and efficient L20 Ultra will be available to purchase from September 20th  2023 in United States, via the Dreame’s official stores on Amazon, starting from 1499.99 USD. Pre-Order starts on September 1st , users have the option to purchase a discount code for $19.99 on the official website, which can be used to obtain a $450 discount. Upon its official release on September 20, the price will be reduced to $1049.99 when the code is applied (or $1199.99 without the code).

To witness the next revolution in cleaning first-hand, and see the L20 Ultra in action, visit Dreame at IFA 2023. We are located in Hall: City Cube_A at Stand CCA-209.

About Dreame Technology

Established in 2017, Dreame Technology is an innovative consumer product company that focuses on smart home cleaning appliances with the vision to empower lives through technology. Follow us on Facebook, Instagram, TikTok and Twitter. For more information please visit https://www.dreametech.com/. 

PR Newswire

Gaabor Launches 9.9 Super Sales on TikTok

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JAKARTA, Indonesia, Sept. 3, 2023 /PRNewswire/ — Leading household appliance brand Gaabor is bringing great deals to shoppers as the second half-year shopping season in the Southeast Asian market officially kicks off with the TikTok 9.9 Brand Festival Sale.

From September 1 to 9, Gaabor is running giveaway and buy 1 get 1 free, and big discounts on the TikTok, including on a wide variety of kitchen, cleaning and personal care products: 

  • Air fryer (AF40M-BK03A): a 4L large-capacity air fryer, the innovative single knob operation, and the precise cooking time setting controlled with fixed stabilized temperature make preparing gourmet dishes very convenient.
  • Electric cooker (GR-N18A): a 600W high-power cooker with 1.8L capacity and double layers that can cook for three to four people, and the non-stick coating is fume-free and easy to clean.
  • Vacuum cleaner (VCW14M-BE01A): a lightweight model with 14,000Pa suction power and two replaceable brushes can handle various tasks with ease and get rid of dust problems completely, and the cyclone filtration system extends the service life of filters and guarantees vacuuming efficiency.
  • Hair dryer (GHD-N700A): a powerful 700W hair dryer with a comfortable grip that comes with a unique silent air duct design that can create perfect hairstyles without the noise, and three temperature settings catering to different hairstyles and hair types.

Gaabor officially entered the Southeast Asian markets in 2021 and achieved great success in last year’s 9.9 Super Shopping Day event – and ranks top three in the category of small household appliances in the Southeast Asia region of the Shopee platform, and its home appliances products rank second in the Philippines and fourth in Malaysia, Indonesia, and Vietnam. Gaabor’s smoke-free air fryer products are the No.1 bestselling in Shopee’s Indonesian official store.

With a user-centric design approach and more than ten years of core technology advantages, the Gaabor brand is becoming more prominent in the local markets across Southeast Asia. This year’s 9.9 Brand Festival Sale Gaabor will also bring a shopping spree on TikTok with high-quality products and multiple offers for users.

Upholding the brand philosophy of “Easy Life and More,” Gaabor is committed to creating innovative, diversified products to relieve the burden of household chores, making everyday life more convenient for our customers.

CONTACT: Gaabor, Gaabor.officialteam@gmail.com