Category Archives: PR Newswire

PR Newswire

Brigii Launches A Powerful MX30 Mini Vacuum Cleaner To Keep Kitchens Crumb-free

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SHENZHEN, China, May 13, 2023 /PRNewswire/ — Brigii, a premier, innovative technology brand dedicated to the research, development, and production of smart hardware for homes has launched the MX30 mini vacuum cleaner. With a brushless DC motor, the MX30 vacuum has a powerful suction. Its compact size allows users to clean up small messes as they go and make daily cleaning a breeze.

Brigii MX30 Handheld vacuum
Brigii MX30 Handheld vacuum

With busy family life and a bustling kitchen, cleaning up crumbs can be a daily chore. Food debris often gets trapped under kitchen appliances, between cabinets, at the edges of countertops, etc. This makes it a breeding ground for bacteria and an eyesore. However, with the Brigii MX30 handheld vacuum’s crevice tool and compact design, you can quickly and easily clean the gap to prevent any food particles from becoming wedged deep inside. Say goodbye to those hard-to-reach crumbs and hello to a cleaner, more hygienic kitchen with the mini vacuum.

The brushless DC motor of the Brigii MX30 vacuum cleaner has many advantages over ordinary vacuum cleaners. Firstly, brushless motors are more powerful and durable than traditional brush motors, this helps the MX30 to effectively pick up crumbs and other debris. Secondly, brushless motors are more energy efficient, leading to longer battery life. Finally, brushless motors are quieter and produce less vibration than traditional brush motors, making MX30 much more pleasant to use.

In addition to the crevice tool, the Brigii MX30 handheld vacuum also comes with a multi-surface tool that makes it easy to clean your sofa, stairs, and car interiors of dust, hair, particles, etc. The vacuum cleaner is also equipped with a washable HEPA filter that captures 99.97% of dust and allergens, ensuring that the air in your home remains clean and healthy. The filter is easy to remove and clean, making maintenance simple.

Compared to Brigii’s other mini vacuums, the MX30 vacuum cleaner with a base makes it an extra bonus. It can store the MX30 vacuum cleaner and accessories, making them easily accessible when you need them. You can also easily charge your device without worrying about running out of power.  In addition, it supports Type-c charging.

So far, Brigii MX30 has elicited rave reviews from its Amazon users. One reviewer gave it five stars for its portability: “The MX30 cordless vacuum is so handy for cleaning crevices in corners, especially in hard-to-reach places like between appliances.” Another reviewer said: “This is the perfect gadget for quick cleanups in the kitchen – perfect for small messes and spills that would otherwise require a big clean-up job.”

“With the fast-paced lifestyles that many people live nowadays, the MX30 mini vacuum is the perfect gift for anyone who wants to keep their kitchen clean and tidy without spending hours on cleaning,” said a spokesperson for Brigii. “It is a powerful and efficient tool that is perfect for cleaning up small messes as you go. Whether you’re cooking in the kitchen, working at your desk, or playing with your pet, the Brigii MX30 mini vacuum allows you to clean up any mess quickly and easily”

For more information: https://www.brigii.com/
MX30 Amazon US: https://amzn.to/41VkM7v
MX30 Amazon UK: https://bit.ly/3GUR9uI

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

About Brigii

Founded in 2019, Brigii is an innovative technology brand dedicated to the research, development, and production of smart hardware for homes.

With the motto “Serving all families anytime, anywhere”, Brigii is proving to be a comprehensive business dedicated to researching, refining, and producing products that ease consumers’ day-to-day activities.

PR Newswire

TD Holdings, Inc. Reports First Quarter 2023 Financial Results

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SHENZHEN, China, May 13, 2023 /PRNewswire/ — TD Holdings, Inc. (Nasdaq: GLG) (the “Company”), a commodities trading service provider in China, today announced its unaudited financial results for the first quarter ended March 31, 2023.

Ms. Renmei Ouyang, the Chief Executive Officer of the Company, stated, “We continued to provide unparalleled services to our clients and explore new partnerships to address the market opportunities in the first quarter of fiscal year 2023. In the remaining of 2023, we will continue to execute our development plan to expand our business scale and improve our brand awareness. We will remain focus on the optimization of our commodities trading business and supply chain service business to expand our client base. We believe our dedicated and experienced team is our foundation to separate us from other competitors and enhance our competitive market position. With the rapid resumption of business activities, we expect to actively explore new corporations, provide high-quality services to best serve our clients’ demand and generate additional revenue sources. In addition to the growth plan, we expect to improve our efficiency by implementing necessary measures. We remain confident about our future prospects with our long-term development strategy on seeking growth opportunities in our business.”

First Quarter 2023 Financial Highlights

Total revenue was $34.58 million, consisting of $34.57 million from sales of commodity products, and $0.01 million from supply chain management services for the quarter ended March 31, 2023, a decrease of 28% from $48.16 million for the same quarter ended March 31, 2022.

Net income was $0.45 million for the quarter ended March 31, 2023, compared with $1.59 million for the same quarter ended March 31, 2022.

Basic and diluted earnings per share were $0.00 respectively, for the quarter ended March 31, 2023, compared with $0.04 for the same quarter ended March 31, 2022.

First Quarter 2023 Financial Results

Revenues

For the quarter ended March 31, 2023, the Company sold non-ferrous metals to 14 third-party customers at fixed prices, and earned revenues when the product ownership was transferred to its customers. The Company earned revenues of $34.57 million from sales of commodity products for the quarter ended March 31, 2023, compared with $47.58 million for the same quarter ended March 31, 2022.

For the quarter ended March 31, 2023, the Company recorded revenue of $0.01 million from supply chain management services to third-party customers, compared with $0.58 million to third-party vendors for the same quarter ended March 31, 2022.

Cost of Revenue

Cost of revenue primarily includes cost of revenue associated with commodity product sales and cost of revenue associated with management services of supply chain. Total cost of revenue decreased by $12.95 million, or 27% to $34.65 million for the quarter ended March 31, 2023, from $47.60 million for the same quarter ended March 31, 2022, primarily due to the decrease in the cost of revenue associated with commodity product sales.

Selling, General, and Administrative Expenses

Selling, general and administrative expenses increased by $0.50 million or 22%, to $2.74 million for the quarter ended March 31, 2023, from $2.25 million for the same quarter ended March 31, 2022. Selling, general and administrative expenses primarily consisted of salary and employee benefits, office rental expenses, amortizations of intangible assets and convertible promissory notes, professional service fees and finance offering related fees. The increase was mainly attributable to the amortization of intangible assets of $2.05 million, as the company acquired a software copyright of the original amount of RMB300 million in connection with the contractual arrangement with Shenzhen Tongdow Internet Technology Co., Ltd. on October 25, 2022, which contributed $1.10 million to selling, general, and administrative expenses for the three months ended March 31, 2022.

Interest Income

Interest income was primarily generated from loans made to third parties and related parties. Interest income increased by $0.06 million or 1%, to $4.45 million for the quarter ended March 31, 2023, from $4.39 million for the same quarter ended March 31, 2022.

Amortization of Beneficial Conversion Feature and Relative Fair Value of Warrants Relating to the Issuance of Convertible Promissory Notes  

For the quarter ended March 31, 2023, the item represented the amortization of beneficial conversion feature of $0.22 million of two convertible promissory notes issued on May 6, 2022 and March 13, 2023.

For the same quarter ended March 31, 2022, the item represented the amortization of beneficial conversion feature of $0.21 million of three convertible promissory notes issued on January 6, 2021, March 4, 2021 and October 4, 2021.

Net Income

Net income was $0.45 million for the quarter ended March 31, 2023, compared with $1.59 million for the same quarter ended March 31, 2022.

Three Months Ended March 31, 2023 Cash Flows

As of March 31, 2023, the Company had cash and cash equivalents of $1.98 million, as compared with $0.89 million as of December 31, 2022.

Net cash provided by operating activities was $2.77 million for the quarter ended March 31, 2023, compared with $3.75 million for the same quarter ended March 31, 2022.

Net cash used in investing activities was $46.69 million for the quarter ended March 31, 2023, compared with $50.00 million for the same quarter ended March 31, 2022.

Net cash provided by financing activities was $45.91 million for the quarter ended March 31, 2023, compared with $45.50 million for the same quarter ended March 31, 2022.

About TD Holdings, Inc.

TD Holdings, Inc. is a service provider currently engaging in the commodities trading business and supply chain service business in China. Its commodities trading business primarily involves purchasing non-ferrous metal products from upstream metal and mineral suppliers and then selling to downstream customers. Its supply chain service business primarily has served as a one-stop commodity supply chain service and digital intelligence supply chain platform integrating upstream and downstream enterprises, warehouses, logistics, information, and futures trading. For more information, please visit http://ir.tdglg.com.

Safe Harbor Statement

This press release may contain certain “forward-looking statements” relating to the business of TD Holdings, Inc. and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: there is uncertainty about the spread of the COVID-19 virus and the impact it will have on the Company’s operations, the demand for the Company’s products and services, global supply chains and economic activity in general. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

For more information, please contact:

Ascent Investor Relations LLC
Ms. Tina Xiao
Email:tina.xiao@ascent-ir.com 
Tel: +1 917 609 0333

TD HOLDINGS, INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

As of March 31, 2023 and December 31, 2022

(Expressed in U.S. dollars, except for the number of shares)

March 31,

December 31,

2023

2022

ASSETS

Current Assets

Cash and cash equivalents

$

1,981,012

$

893,057

Loans receivable from third parties

191,630,240

143,174,634

Other current assets

4,991,860

4,040,477

Inventories, net

415,718

458,157

Total current assets

199,018,830

148,566,325

Non-Current Assets

Plant and equipment, net

5,239

6,370

Goodwill

162,379,512

160,213,550

Intangible assets, net

52,803,772

54,114,727

Right-of-use assets, net

168,458

196,826

Total non-current assets

215,356,981

214,531,473

Total Assets

$

414,375,811

$

363,097,798

LIABILITIES AND EQUITY

Current Liabilities

Accounts payable

$

–

$

1,269

Bank borrowings

1,018,671

1,005,083

Third party loans payable

472,842

460,587

Contract liabilities

18,395

437,148

Income tax payable

12,835,992

11,634,987

Lease liabilities

109,977

116,170

Other current liabilities

5,654,669

5,348,646

Convertible promissory notes

4,635,456

4,208,141

Total current liabilities

24,746,002

23,212,031

Non-Current Liabilities

Due to related party

39,291,587

38,767,481

Deferred tax liabilities

2,907,489

3,059,953

Lease liabilities

62,396

84,164

Total non-current liabilities

42,261,472

41,911,598

Total liabilities

67,007,474

65,123,629

Commitments and Contingencies (Note 16)

Equity

Common stock (par value $0.001 per share, 600,000,000 shares authorized;
144,841,328 and 106,742,117 shares issued and outstanding as of March 31, 2023
and December 31, 2022, respectively)*

144,841

106,742

Additional paid-in capital

390,154,966

344,295,992

Statutory surplus reserve

2,602,667

2,602,667

Accumulated deficit

(37,950,132)

(38,800,375)

Accumulated other comprehensive income

(5,939,107)

(8,984,925)

Total TD Shareholders’ Equity

349,013,235

299,220,101

Non-controlling interest

(1,644,898)

(1,245,932)

Total Equity

347,368,337

297,974,169

Total Liabilities and Equity

$

414,375,811

$

363,097,798

* Retrospectively restated due to five for one Reverse Stock Split, see Note 12 – Reverse stock split of common stock.

TD HOLDINGS, INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND

COMPREHENSIVE INCOME (LOSS)

For the Three Months Ended March 31, 2023 and 2022

(Expressed in U.S. dollars, except for the number of shares)

For the Three Months
Ended
March 31,

2023

2022

Revenues

    - Sales of commodity products – third parties

$

34,571,288

$

47,583,965

    - Supply chain management services – third parties

6,350

575,151

Total revenue

34,577,638

48,159,116

Cost of revenues

    - Commodity product sales-third parties

(34,653,239)

(47,590,576)

    - Supply chain management services-third parties

(40)

(11,602)

Total operating costs

(34,653,279)

(47,602,178)

Gross (loss)/profit

(75,641)

556,938

Operating expenses

Selling, general, and administrative expenses

(2,743,061)

(2,247,707)

Total operating expenses

(2,743,061)

(2,247,707)

Net Operating Loss

(2,818,702)

(1,690,769)

Other income (expenses), net

Interest income

4,449,000

4,390,341

Interest expenses

(109,987)

(110,326)

Amortization of beneficial conversion feature relating to issuance of convertible
promissory notes

(220,652)

(213,367)

Other income, net

4,523

95,709

Total other income, net

4,122,884

4,162,357

Net income before income taxes

1,304,182

2,471,588

Income tax expenses

(852,905)

(877,731)

Net income

451,277

1,593,857

Less: Net loss attributable to non-controlling interests

(398,966)

–

Net income attributable to TD Holdings, Inc.’s Stockholders

850,243

1,593,857

Comprehensive Income

Net income

451,277

1,593,857

Foreign currency translation adjustments

3,045,818

881,196

Comprehensive Income

$

3,497,095

$

2,475,053

Less: Total comprehensive loss attributable to non-controlling interests

(398,966)

–

Comprehensive income attributable to TD Holdings, Inc.’s Stockholders

$

3,896,061

$

2,475,053

Income per share – basic and diluted

Continuing Operation- income per share – basic*

$

0.00

$

0.04

Continuing Operation- income per share –diluted*

$

0.00

$

0.04

Weighted Average Shares Outstanding-Basic*

140,045,132

39,688,232

Weighted Average Shares Outstanding- Diluted*

148,121,900

42,710,590

*  Retrospectively restated due to five for one Reverse Stock Split, see Note 12 – Reverse stock split of common stock

 

TD HOLDINGS, INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

For the Three Months Ended March 31, 2023 and 2022

(Expressed in U.S. dollar)

For the Three Months

Ended March 31,

2023

2022

Cash Flows from Operating Activities:

Net income

$

451,277

$

1,593,857

Adjustments to reconcile net income to net cash used in operating activities:

Depreciation of plant and equipment

1,215

3,217

Amortization of intangible assets

2,049,732

1,029,186

Amortization of right of use assets

30,846

76,983

Amortization of discount on convertible promissory notes

93,333

111,000

Interest expense for convertible promissory notes

101,330

93,285

Amortization of beneficial conversion feature of convertible promissory notes

220,652

213,367

Monitoring fee relating to convertible promissory notes

–

69,685

Deferred tax liabilities

(194,515)

(209,744)

Inventories impairment

(17,229)

–

Escrow account receivable

–

(54,985)

Inventories

66,033

(133,810)

Other current assets

(24,222)

(29,775)

Prepayments

447,960

(1,891,842)

Contract liabilities

(426,158)

1,900,456

Due to related parties

–

(21,259)

Due from third parties

(628,474)

(481,816)

Due from related parties

(685,488)

28,897

Accounts payable

(1,291)

(116,078)

Income tax payable

1,047,382

1,085,694

Other current liabilities

259,083

499,661

Lease liabilities

(30,476)

(19,734)

Due to third party loans payable

6,050

6,523

Net cash provided by operating activities

2,767,040

3,752,768

Cash Flows from Investing Activities:

Purchases of plant and equipment

–

(5,039)

Purchases of operating lease assets

–

(58,617)

Loans made to third parties

(46,678,620)

(60,177,853)

Collection of loans from related parties

–

11,066,822

Investments in other investing activities

(10,707)

(828,601)

Net cash used in investing activities

(46,689,327)

(50,003,288)

Cash Flows from Financing Activities:

Proceeds from issuance of common stock under ATM transaction

559,073

–

Proceeds from issuance of common stock under private placement transactions

42,350,000

45,500,000

Proceeds from convertible promissory notes

3,000,000

–

Net cash provided by financing activities

45,909,073

45,500,000

Effect of exchange rate changes on cash and cash equivalents

(898,831)

13,794

Net increase/(decrease) in cash and cash equivalents

1,087,955

(736,726)

Cash and cash equivalents at beginning of period

893,057

4,311,068

Cash and cash equivalents at end of period

$

1,981,012

$

3,574,342

Supplemental Cash Flow Information

Cash paid for interest expenses

$

19,934

$

22,109

Cash paid for income taxes

$

–

$

1,781

Supplemental disclosure of Non-cash investing and financing activities

Right-of-use assets obtained in exchange for operating lease obligations

$

–

$

58,617

Issuance of common stocks in connection with conversion of convertible promissory
    notes

$

2,988,000

$

1,804,820

Source: TD Holdings, Inc.

PR Newswire

Zendure SuperBase V Named Winner of Four iF DESIGN AWARDS

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Zendure’s Flagship SuperBase V, Plus Satellite Battery, Home Panel and Packaging, Win iF DESIGN AWARDS Amid 11,000 Entries

PALO ALTO, Calif., May 13, 2023 /PRNewswire/ — Zendure, one of the fastest-growing global energy tech start-ups, was named a winner of four of this year’s iF DESIGN AWARDS, the world-renowned design prize. The company’s SuperBase V, as well as the satellite battery, home panel and packaging, were all recognized with this highly coveted award.


Each year, the world’s oldest independent design organization, Hannover-based iF International Forum Design GmbH, organizes the iF DESIGN AWARD. In several instances, Zendure won over the 133-member jury, made up of independent experts from all over the world, with their innovative designs. The competition was steep: almost 11,000 entries were submitted from 56 countries in hopes of receiving the seal of quality.

SuperBase V is the first modular, portable power station with semi-solid state batteries to provide more reliable, safer, cleaner energy when and where users need it most. With up to 64kWh of expandable power and dual voltage output, SuperBase V stands out as true innovation. It is an ideal and clean option for RV and off-grid living, trade professionals, EV charging, whole-home power needs and as emergency back-up when sudden outages occur.

“We are honored to have our design recognized by such a renowned organization,” said Jolene Shang, Chief Marketing Officer at Zendure, “We strive to deliver reliable and affordable clean energy for households worldwide by popularizing the latest EnergyTech, with a key focus on user-centric and innovative design. By putting the needs of our users first, we can create products that not only look sleek and modern but also enhance the user experience. By prioritizing innovation and design, we are confident that we can provide our customers with the best possible clean energy solutions that are both practical and stylish.”

More information about Zendure’s winning entries can be found at https://ifdesign.com/en/brands-creatives/company/zendure-usa-inc/17765.

ABOUT ZENDURE

Founded in 2017, Zendure is one of the fastest-growing EnergyTech start-ups located in the technology hubs of Silicon Valley, USA, and the Greater Bay Area, China, Japan, and Germany. Our purpose is to accelerate a sustainable future. Our mission is to deliver reliable and affordable clean energy for households worldwide by popularizing the latest EnergyTech. We envision being a Clean EnergyTech platform that sustains communities and families. Our successes include SuperBase M, SuperBase Pro and the first Plug & Play Home Energy Storage System – SuperBase V, along with our line of Satellite Batteries, Smart Home Panel, Smart Plug, EV Charger and Remote Energy Management App. Our revolutionary Balcony Energy Storage System SolarFlow turns sunlight into a safe, reliable and resilient source of energy to power our daily life.

To learn more visit Zendure.com and follow Zendure on Facebook, Instagram, Twitter, and LinkedIn.

ABOUT THE iF DESIGN AWARD

Since 1954, the iF DESIGN AWARD has been recognized as an arbiter of quality for excellent design. The iF Design brand is renowned worldwide for outstanding design services, and the iF DESIGN AWARD is one of the most important design prizes in the world. It honors design achievements in all disciplines: product, packaging, communication and service design, architecture and interior architecture as well as professional concept, user experience (UX) and user interface (UI). All award-winning entries are featured on www.ifdesign.com.

Source: Zendure USA Inc.

PR Newswire

J&T Express and SF Express reach agreement to acquire 100% share rights of Fengwang Express for RMB 1.183 billion

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SHANGHAI, May 12, 2023 /PRNewswire/ — Global logistics service provider, J&T Express today announced that it has entered into a Share Transfer Agreement with Shenzhen Fengwang Holdings Co., Ltd. (“Fengwang Holdings”), a subsidiary of S.F. Holding Co., Ltd. (002352.SZ). J&T Express’ subsidiary J&T Express (Shenzhen) Supply Chain Co., Ltd. will acquire 100% share rights of Fengwang Holding’s wholly-owned subsidiary, Shenzhen Fengwang Information Technology Co., Ltd. (“Fengwang Information”), for RMB 1.183 billion. This transaction is subject to several prerequisites, the Examination of Concentrations of Undertakings by the State Administration for Market Regulation, and the transaction consideration being settled in a timely manner according to the Share Transfer Agreement.

J&T Express has been making significant strides in the e-commerce express delivery sector since its entry into the Chinese market in 2020. The company has successfully acquired Best Inc.’s express business in China in late 2021. Shenzhen Fengwang Express Co., Ltd. (“Fengwang Express”) is a wholly-owned subsidiary of Fengwang Information. Fengwang Express’ network currently covers 27 provinces, municipalities and autonomous regions across China, providing high quality services to e-commerce customers. In 2022, Fengwang’s revenue exceeded RMB 3.2 billion. The overall network service quality is stable.

J&T Express has expressed its commitment to continuously optimizing the service experience as part of its focus on the e-commerce express delivery service industry. This acquisition will enhance the integrated service capabilities of J&T Express. This move is expected to foster high-quality development of the industry allowing it to further increase its competitive advantage in the e-commerce delivery sector and contribute to the high-quality development of the industry.

S.F. said that the resources of two sides are complementary, this will help ensure the smooth transition of the transaction. Looking forward, S.F. can focus more on the development of its core businesses such as domestic mid-to-high-end express, international express, global supply chain services and digital supply chain services. Meanwhile, S.F. will continue to build e-commerce express delivery products and services and meet the diversified needs of customers in the high-end express delivery market.

About J&T Express

J&T Express is a global logistics service provider with leading express delivery businesses in Southeast Asia and China, the largest and fastest-growing market in the world. Founded in 2015, J&T Express’ network spans thirteen countries, including Indonesia, Vietnam, Malaysia, the Philippines, Thailand, Cambodia, Singapore, China, Saudi Arabia, the UAE, Mexico, Brazil and Egypt. Adhering to its “customer-oriented and efficiency-based” mission, J&T Express is committed to providing customers with integrated logistics solutions through intelligent infrastructure and digital logistics network, as part of its global strategy to connect the world with greater efficiency and bring logistical benefits to all.

About S.F.  

SF is the largest integrated logistics service provider in China, and the fourth largest express delivery enterprise in the world, providing domestic and international end-to-end one-stop supply chain services. At the same time, relying on leading scientific and technological research and development capabilities, SF is committed to building the digital supply chain ecology and becoming a leader in the global intelligent supply chain. After years of dedicated operation, SF has earned considerable reputation and popularity in the industry, and has established the “rapid, punctual and safe” brand image. It takes the lead in multiple segments and continues to lead in the industry.

PR Newswire

Infobird Co., Ltd Announces 1-for-5 Share Consolidation

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BEIJING, May 12, 2023 /PRNewswire/ — Infobird Co., Ltd (NASDAQ: IFBD) (“Infobird” or the “Company”), a software-as-a-service provider of AI-powered customer engagement solutions in China, today announced that it plans to implement a 1-for-5 share consolidation of its ordinary shares (the “Share Consolidation”), effective on May 15, 2023.

Beginning with the opening of trading on May 15, 2023, the Company’s ordinary shares will begin trading on a post-Share Consolidation basis on the Nasdaq Capital Market under the same symbol “IFBD”, but under a new CUSIP number of G47724110. The objective of the Share Consolidation is to enable the Company to regain compliance with Nasdaq Marketplace Rule 5550(a)(2) and maintain its listing on the Nasdaq Capital Market.

Upon the effectiveness of the Share Consolidation, every five issued and outstanding ordinary shares of a par value of US$0.005 each will automatically be converted into one issued and outstanding ordinary share of a par value of US$0.025 each. No fractional shares will be issued as a result of the Share Consolidation. Instead, any fractional shares that would have resulted from the Share Consolidation will be rounded up to the next whole number. The Share Consolidation affects all shareholders uniformly and will not alter any shareholder’s percentage interest in the Company’s outstanding ordinary shares, except for adjustments that may result from the treatment of fractional shares.

The Share Consolidation was approved by the Company’s board of directors on April 26, 2023 and its shareholders on May 12, 2023. The Company has filed a Fourth Amended and Restated Memorandum and Articles of Association with the Cayman Islands Registrar of Companies.

About Infobird Co., Ltd

Infobird, headquartered in Beijing, China, is a software-as-a-service provider of innovative AI-powered, or artificial intelligence enabled, customer engagement solutions in China. For more information, visit Infobird’s website at www.Infobird.com.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “plans”, “will,” “future,” “expects,” “believes,” and “intends,” or similar expressions, are intended to identify forward-looking statements. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events, results, conditions or performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date they are made. In evaluating such statements, investors and prospective investors should review carefully various risks and uncertainties and other matters identified in the Company’s filings with the U.S. Securities and Exchange Commission. These risks and uncertainties could cause the Company’s actual results to differ materially from those indicated in the forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

PR Newswire

Dingdong (Cayman) Limited Announces First Quarter 2023 Financial Results

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SHANGHAI, May 12, 2023 /PRNewswire/ — Dingdong (Cayman) Limited (“Dingdong” or the “Company”) (NYSE: DDL), a leading fresh grocery e-commerce company in China, with advanced supply chain capabilities, today announced its unaudited financial results for the quarter ended March 31, 2023.

First Quarter 2023 Highlights:

  • GMV for the first quarter of 2023 decreased by 6.8% year over year to RMB5,451.2 million (US$793.8 million) from RMB5,851.3 million in the same quarter of 2022, primarily due to decreased consumer demand in the first quarter of 2023, as most of the pandemic restrictive measures were lifted. In contrast, consumer demand in the first quarter of 2022 was excessively high due to a series of restrictive measures implemented by local governments to contain the spread of the Omicron variant, in particular, during the city-wide lockdown in Shanghai last March. GMV in the first quarter of 2023 was also adversely affected by the Company’s withdrawal from several cities in 2022, due to difficulties in attaining profitability in these markets in the short term. Furthermore, the company reduced using subsidies and discounted pricing to attract and retain customers, which caused a temporary decrease in GMV.  Excluding March, GMV generated in January and February 2023 increased by 5.3% year over year to RMB3,600.9 million (US$524.3 million) from RMB3,420.7 million in the same period of 2022.
  • Fulfillment expenses for the first quarter of 2023 were RMB1,196.1 million (US$174.2 million), a decrease of 19.4% from RMB1,484.1 million in the same quarter of 2022. Fulfillment expenses as a percentage of total revenues decreased to 23.9% from 27.3% in the same quarter of 2022.
  • Non-GAAP net income for the first quarter of 2023 was RMB6.1 million (US$0.9 million), compared with non-GAAP net loss of RMB422.2 million in the same quarter of 2022.

Mr. Changlin Liang, Founder and Chief Executive Officer of Dingdong, stated,

“During the first quarter of 2023, there was reduced consumer demand for our products as China lifted its dynamic zero-COVID policy and people were traveling during the Chinese New Year and engaging in spring outings. We also incurred additional expenses and labor costs to ensure timely order fulfillment during the holiday. Despite these setbacks, we are proud that we were still able to achieve our expected non-GAAP breakeven this quarter.

Dingdong is a start-up dedicated to providing safe, healthy, and delicious food to users. Our mission is to innovate relentlessly for the betterment of people’s lives. We will leave no stone unturned to create value for consumers and society, while adhering to our roots and maintaining strict discipline. Our beliefs extend far beyond mere profitability, fueling our passion and drive to achieve success both now and in the future.”

Ms. Le Yu, Chief Strategy Officer of Dingdong, stated,

“In the first quarter of 2023, we recorded RMB5.45 billion GMV, with a year-over-year decrease of 6.8%, meanwhile our revenue was RMB5.0 billion, with a year-over-year decrease of 8.2%. To break it down, our GMV in January and February increased by 5.3% as compared to the same period of last year, and the decline in March was a comparison with the high base resulting from the lockdown in Shanghai last March. On a year-over-year basis, gross margin, fulfillment expense ratio, sales and marketing expense ratio, G&A expense ratio and product development expense ratio all were optimized. Our success in the first quarter adds confidence in our ability to achieve a full-year non-GAAP breakeven for 2023.”

First Quarter 2023 Financial Results

Total revenues were RMB4,997.5 million (US$727.7 million), representing a decrease of 8.2% from RMB5,443.7 million in the same quarter of 2022, which was primarily due to decreased consumer demand in the first quarter of 2023. In contrast, consumer demand in the first quarter of 2022 was excessively high due to a series of restrictive measures implemented by local governments to contain the spread of the Omicron variant, in particular, during the city-wide lockdown in Shanghai last March. Total revenues for the first quarter of 2023 was also adversely affected by the Company’s withdrawal from several cities in 2022, due to difficulties in attaining profitability in these markets in the short term. Total revenues for the first two months of 2023 increased by 5.2% year over year to RMB3,302.8 million (US$480.9 million) from RMB3,140.3 million in the same period of 2022.

  • Product Revenues were RMB4,937.8 million (US$719.0 million), a decrease of 8.1% from RMB5,375.1 million in the same quarter of 2022. Excluding March, total product revenues for the first two months of 2023 increased by 5.3% year over year to RMB3,261.8 million (US$475.0 million) from RMB3,096.2 million in the same period of 2022.
  • Service Revenues were RMB59.7 million (US$8.7 million), a decrease of 12.9% from RMB68.6 million in the same quarter of 2022, primarily because the Company was proactively optimizing its membership structure.

Total operating costs and expenses were RMB5,043.3 million (US$734.4 million), a decrease of 14.4% from RMB5,892.3 million in the same quarter of 2022, with a detailed breakdown as below.  

  • Cost of goods sold was RMB3,462.3 million (US$504.2 million), a decrease of 10.7% from RMB3,879.3 million in the same quarter of 2022. Cost of goods sold as a percentage of revenues decreased to 69.3% from 71.3% in the same quarter of 2022, primarily due to improvements in product development capabilities. Gross margin was 30.7%, a significant improvement from 28.7% in the same quarter of 2022.
  • Fulfillment expenses were RMB1,196.1 million (US$174.2 million), a decrease of 19.4% from RMB1,484.1 million in the same quarter of 2022. Fulfillment expenses as a percentage of total revenues decreased to 23.9% from 27.3% in the same quarter of 2022, mainly driven by the increase in average order value and improved frontline fulfillment labor efficiency.
  • Sales and marketing expenses were RMB87.5 million (US$12.7 million), a decrease of 50.3% from RMB176.1 million in the same quarter of 2022, as user acquisition cost per new transacting user decreased due to the Company’s improved product development capabilities and increasingly established brand image.
  • General and administrative expenses were RMB86.8 million (US$12.6 million), a decrease of 26.9% from RMB118.7 million in the same quarter of 2022, mainly due to the improved efficiency of our staff.
  • Product development expenses were RMB210.6 million (US$30.7 million), a decrease of 10.0% from RMB233.9 million in the same quarter of 2022, primarily due to the Company’s improved R&D efficiency. While advocating on energy and resource saving, the Company will continue its investments in product development capabilities, agricultural technology, data algorithms, and other technology infrastructure, to further enhance its competitiveness.

Loss from operations was narrowed to RMB50.1 million (US$7.3 million), compared with operating loss of RMB461.7 million in the same quarter of 2022.

Net loss was narrowed to RMB52.4 million (US$7.6 million), compared with net loss of RMB477.4 million in the same quarter of 2022.

Non-GAAP net income, which is a non-GAAP measure that excludes share-based compensation expenses, was RMB6.1 million (US$0.9 million), a significant improvement from non-GAAP net loss of RMB422.2 million in the same quarter of 2022. In addition, non-GAAP net margin, which is the Company’s non-GAAP net income / (loss) as a percentage of revenues, improved to 0.1% from negative 7.8% in the same quarter of 2022.

Basic and diluted net loss per share were RMB0.17 (US$0.02), compared with net loss per share of RMB1.48 in the same quarter of 2022. Non-GAAP net income per share, basic and diluted, was RMB0.01 (US$0.00), compared with non-GAAP net loss per share of RMB1.31 in the same quarter of 2022.

Cash and cash equivalents and short-term investments were RMB5,700.2 million (US$830.0 million) as of March 31, 2023, compared with RMB6,493.0 million as of December 31, 2022.

Conference Call

The Company’s management will hold an earnings conference call at 8:00 A.M. Eastern Time on Friday, May 12, 2023 (8:00 P.M. Beijing Time on the same day) to discuss the financial results. The presentation and question and answer session will be presented in both Mandarin and English. Listeners may access the call by dialing the following numbers:

International:

1-412-317-6061

United States Toll Free:

1-888-317-6003

Mainland China Toll Free:

4001-206115

Hong Kong Toll Free:

800-963976

Conference ID:

7302404

The replay will be accessible through May 19, 2023 by dialing the following numbers:

International:

1-412-317-0088

United States:

1-877-344-7529

Access Code:

5972888

A live and archived webcast of the conference call will also be available at the Company’s investor relations website at https://ir.100.me.

About Dingdong (Cayman) Limited

We are a leading fresh grocery e-commerce company in China, with sustainable long-term growth. We directly provide users and households with fresh produce, prepared food, and other food products through a convenient and excellent shopping experience supported by an extensive self-operated frontline fulfillment grid. Leveraging our deep insights into consumers’ evolving needs and our strong food innovation capabilities, we have successfully launched a series of private label products spanning a variety of food categories. Many of our private label products are produced at our Dingdong production plants, allowing us to more efficiently produce and offer safe and high-quality food products. We aim to be Chinese families’ first choice for food shopping.

For more information, please visit: https://ir.100.me.

Use of Non-GAAP Financial Measures

The Company uses non-GAAP measures, such as non-GAAP net (loss)/income, non-GAAP net margin, non-GAAP net (loss)/income attributable to ordinary shareholders and non-GAAP net (loss)/income per share, basic and diluted, in evaluating its operating results and for financial and operational decision-making purposes. The Company believes that the non-GAAP financial measures help identify underlying trends in its business by excluding the impact of share-based compensation expenses, which are non-cash charges and do not correlate to any operating activity trends. The Company believes that the non-GAAP financial measures provide useful information about the Company’s results of operations, enhance the overall understanding of the Company’s past performance and future prospects and allow for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision-making.

The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools, and when assessing the Company’s operating performance, cash flows or liquidity, investors should not consider them in isolation, or as a substitute for net loss, cash flows provided by operating activities or other consolidated statements of operations and cash flows data prepared in accordance with U.S. GAAP. The Company’s definition of non-GAAP financial measures may differ from those of industry peers and may not be comparable with their non-GAAP financial measures.

The Company mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company’s performance.

For more information on the non-GAAP financial measures, please see the table captioned “Unaudited Reconciliation of GAAP and Non-GAAP Results” set forth at the end of this announcement.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB6.8676 to US$1.00, the exchange rate on March 31, 2023 set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all.

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 “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continue,” or other similar expressions. Among other things, business outlook and quotations from management in this announcement, as well as Dingdong’s strategic and operational plans, contain forward-looking statements. Dingdong may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its interim and annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Dingdong’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Dingdong’s goals and strategies; Dingdong’s future business development, financial conditions, and results of operations; the expected outlook of the fresh grocery ecommerce market in China; Dingdong’s expectations regarding demand for and market acceptance of its products and services; Dingdong’s expectations regarding its relationships with its users, clients, business partners, and other stakeholders; competition in Dingdong’s industry; and relevant government policies and regulations relating to Dingdong’s industry, and general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this announcement and in the attachments is as of the date of the announcement, and the Company undertakes no duty to update such information, except as required under applicable law.

For investor inquiries, please contact:

Dingdong Fresh
ir@100.me

DINGDONG (CAYMAN) LIMITED
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands of RMB and US$)

As of

December 31,

2022

March 31,

2023

March 31,

2023

RMB

RMB

US$

(Unaudited)

ASSETS

Current assets:

Cash and cash equivalents

1,856,187

1,778,127

258,915

Restricted cash

2,763

7,714

1,123

Short-term investments

4,636,774

3,922,041

571,093

Accounts receivable, net

141,468

103,933

15,134

Inventories

604,884

478,763

69,713

Advance to suppliers

83,835

72,262

10,522

Prepayments and other current assets

170,336

181,256

26,394

Total current assets

7,496,247

6,544,096

952,894

Non-current assets:

Property and equipment, net

314,980

277,907

40,466

Operating lease right-of-use assets

1,425,117

1,362,000

198,323

Other non-current assets

145,563

145,815

21,232

Total non-current assets

1,885,660

1,785,722

260,021

TOTAL ASSETS

9,381,907

8,329,818

1,212,915

LIABILITIES, MEZZANINE EQUITY AND

SHAREHOLDERS’ EQUITY

Current liabilities:

Accounts payable

1,886,689

1,464,798

213,291

Customer advances and deferred revenue

253,010

241,289

35,134

Accrued expenses and other current
     liabilities

810,963

653,309

95,129

Salary and welfare payable

329,104

334,438

48,698

Operating lease liabilities, current

693,496

704,286

102,552

Short-term borrowings

4,237,978

3,803,576

553,844

Total current liabilities

8,211,240

7,201,696

1,048,648

Non-current liabilities:

Operating lease liabilities, non-current

678,000

615,025

89,555

Other non-current liabilities

75,000

115,067

16,755

Total non-current liabilities

753,000

730,092

106,310

TOTAL LIABILITIES

8,964,240

7,931,788

1,154,958

DINGDONG (CAYMAN) LIMITED
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(Amounts in thousands of RMB and US$)

As of

December 31,

2022

March 31,

2023

March 31,

2023

RMB

RMB

US$

(Unaudited)

LIABILITIES, MEZZANINE EQUITY AND

SHAREHOLDERS’ EQUITY (CONTINUED)

Mezzanine Equity:

Redeemable noncontrolling interests

107,490

109,550

15,952

TOTAL MEZZANINE EQUITY

107,490

109,550

15,952

Shareholders’ equity

Ordinary shares

4

4

1

Additional paid-in capital

13,922,811

13,982,043

2,035,943

Treasury stock

(20,666)

(20,666)

(3,010)

Accumulated deficit

(13,580,086)

(13,634,537)

(1,985,343)

Accumulated other comprehensive loss

(11,886)

(38,364)

(5,586)

TOTAL SHAREHOLDERS’ EQUITY

310,177

288,480

42,005

TOTAL LIABILITIES, MEZZANINE EQUITY
    AND SHAREHOLDERS’ EQUITY

9,381,907

8,329,818

1,212,915

DINGDONG (CAYMAN) LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(Amounts in thousands of RMB and US$, except for number of shares and per share data)

For the three months ended

March 31,

2022

2023

2023

RMB

RMB

US$

(Unaudited)

Revenues:

Product revenues

5,375,090

4,937,763

718,994

Service revenues

68,582

59,715

8,695

Total revenues

5,443,672

4,997,478

727,689

Operating costs and expenses:

Cost of goods sold

(3,879,328)

(3,462,337)

(504,155)

Fulfillment expenses

(1,484,142)

(1,196,059)

(174,160)

Sales and marketing expenses

(176,116)

(87,464)

(12,736)

Product development expenses

(233,915)

(210,635)

(30,671)

General and administrative expenses

(118,771)

(86,842)

(12,645)

Total operating costs and expenses

(5,892,272)

(5,043,337)

(734,367)

Other operating expenses, net

(13,066)

(4,197)

(611)

Loss from operations

(461,666)

(50,056)

(7,289)

Interest income

13,234

33,751

4,915

Interest expenses

(30,708)

(28,876)

(4,205)

Other income, net

1,757

2,866

417

Loss before income tax

(477,383)

(42,315)

(6,162)

Income tax expenses

–

(10,076)

(1,467)

Net loss

(477,383)

(52,391)

(7,629)

Accretion of redeemable noncontrolling interests

(1,435)

(2,060)

(300)

Net loss attributable to ordinary shareholders

(478,818)

(54,451)

(7,929)

DINGDONG (CAYMAN) LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(CONTINUED)
(Amounts in thousands of RMB and US$, except for number of shares and per share data)

For the three months ended

March 31,

2022

2023

2023

RMB

RMB

US$

(Unaudited)

Net loss per Class A and Class B ordinary share:

Basic and diluted

(1.48)

(0.17)

(0.02)

Shares used in net loss per Class A and Class B
    ordinary share computation:

Basic and diluted

324,443,234

324,539,178

324,539,178

Other comprehensive loss, net of tax of nil:

Foreign currency translation adjustments

(24,959)

(26,478)

(3,855)

Comprehensive loss

(502,342)

(78,869)

(11,484)

Accretion of redeemable noncontrolling interests

(1,435)

(2,060)

(300)

Comprehensive loss attributable to ordinary
    shareholders

(503,777)

(80,929)

(11,784)

DINGDONG (CAYMAN) LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in thousands of RMB and US$)

For the three months ended

March 31,

2022

2023

2023

RMB

RMB

US$

(Unaudited)

Net cash used in operating activities

(385,203)

(306,839)

(44,679)

Net cash generated from investing activities

885,907

669,811

97,532

Net cash generated from / (used in) financing activities

98,991

(432,873)

(63,031)

Effect of exchange rate changes on cash and cash
   equivalents and restricted cash

(3,560)

(3,209)

(468)

Net increase / (decrease) in cash and cash equivalents
and restricted cash

596,135

(73,110)

(10,646)

Cash and cash equivalents and restricted cash at the
    beginning of the period

670,432

1,858,951

270,684

Cash and cash equivalents and restricted cash at the
    end of the period

1,266,567

1,785,841

260,038

DINGDONG (CAYMAN) LIMITED 
UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS 
(Amounts in thousands of RMB and US$, except for number of shares and per share data)

For the three months ended

March 31,

2022

2023

2023

RMB

RMB

US$

(Unaudited)

Net loss

(477,383)

(52,391)

(7,629)

Add: share-based compensation expenses (1)

55,174

58,462

8,513

Non-GAAP net (loss) / income

(422,209)

6,071

884

Net loss margin

(8.8 %)

(1.1 %)

(1.1 %)

Add: share-based compensation expenses

1.0 %

1.2 %

1.2 %

Non-GAAP net (loss) / income margin

(7.8 %)

0.1 %

0.1 %

Net loss attributable to ordinary shareholders

(478,818)

(54,451)

(7,929)

Add: share-based compensation expenses (1)

55,174

58,462

8,513

Non-GAAP net (loss) / income attributable to ordinary
    shareholders

(423,644)

4,011

584

Net loss per Class A and Class B ordinary share:

Basic and diluted

(1.48)

(0.17)

(0.02)

Add: share-based compensation expenses

0.17

0.18

0.02

Non-GAAP net (loss) / income per Class A and Class B
    ordinary share:

       Basic and diluted

(1.31)

0.01

0.00

(1) Share-based compensation expenses are recognized as follows:

For the three months ended

March 31,

2022

2023

2023

RMB

RMB

US$

(Unaudited)

Fulfillment expenses

12,116

11,970

1,743

Sales and marketing expenses

(255)

789

115

Product development expenses

26,037

28,424

4,139

General and administrative expenses

17,276

17,279

2,516

Total

55,174

58,462

8,513
PR Newswire

Lumary to launch first 150W Smart UFO LED High Bay Light, which will change the situation of industrial and commercial lighting

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LOS ANGELES, May 12, 2023 /PRNewswire/ — Lumary, an innovator of smart lighting, is about to launch its first Smart UFO LED High Bay Light. Equipped with Lumary App control, local control via remote controller, control away, and voice control with Alexa and Google Assistant, making it the bright choice for smart lighting in industrial and commercial environments.

Lumary smart UFO High Bay Lights
Lumary smart UFO High Bay Lights

The Lumary 150W smart UFO LED high bay lights, which are 22000 lumens, can adjust according to brightness and color temperature needs, using dual-color temperature and efficient 145Lm/W LED chips.

The Lumary smart UFO LED high bay light is a heavy-duty commercial light, weighing 5.4 lbs and made of durable ADC12# die-casting aluminum, the heatsink fin has outstanding dissipation.

The new product also features an IP65 waterproof rating. In addition, it also has a UL listed driver, which provides higher levels of safety & compliance, and comes with a G hook and a 6.6-foot power cord with a plug for easy and direct power source.

Through the Lumary application or Lumary remote control, the color temperature can be adjusted from 2700K to 6500K, and the brightness can be adjusted from 1% to 100%. It meets the lighting requirements of different time periods and saves unnecessary costs under long-term high-power consumption lighting. The signal is stable, and by gently sliding the button with your finger, you can decide whether the entire warehouse’s lights should be on, when they should turn on, and how bright they should be.

The wireless Bluetooth Mesh networking method has inherent advantages. “The core advantage of wireless control is convenience”, and wireless networking greatly reduces the danger of long-term high-altitude operations.

Without complex wiring, you can control the brightness of each Lumary smart high bay light with a gentle touch on the Lumary App like adjusting the volume of headphones, quickly and smoothly, with almost zero latency. You can also set different groups according to different work areas requirements for group control. Since it uses LED high bay lights, huge energy consumption can be saved.

The lightweight deployment method of wireless networking can reduce maintenance costs such as slotting and wiring for workshops and warehouses that require a large number of lamps, and decision-making costs are also lower for managers. The entire workshop lighting achieves fine-grained control based on different area requirements and work time periods.

In addition, by connecting to the Lumary smart gateway (L-GW0A1), smart voice control can be achieved, work with Alexa, Google Assistant, Siri. You can also set schedule and remote control functions.

Lighting is essential for warehouses and workshops. The light intensity not only directly affects people’s vision and work efficiency but also requires lighting to ensure the safety of various operation links such as storage and goods circulation.

In the past, warehouses and workshops mostly used high-pressure sodium lamps, which, due to their high luminous efficiency, strong fog penetration, and rust resistance, once appeared in various large places requiring strong lighting.

With the rapid development of semiconductor material application technology, LED lights that are bright enough and can save energy by 100% to 200% have become popular. If LED lights can be smart controlled, there are many places where costs can be reduced.

When 300W HPS lamp is replaced with a 150W Lumary Smart UFO LED high bay light, the energy-saving efficiency can reach 100% when the warehouse is lit for one hour. By using a smart lighting system to control LED high bay lights, another 200% energy-saving can be achieved on the basis of the already saved 100%, and through such layer-by-layer energy-saving, the daily energy-saving efficiency of lighting in the warehouse exceeds 300%.

Availability and Pricing
The Lumary Smart UFO 150W LED High Bay Light will be available on May 15, 2023 and retail at $199.99 USD on Lumarysmart.com and Amazon. 

About Lumary
Lumary is a smart lifestyle brand providing high-end smart lighting products.
We are a tech-led, people-oriented company. Our technology can combine voice assistants and mobile applications to provide high-quality smart products and a more convenient user experience for our customers.
Easy and quick installation and the latest technology save your time and make your experience more enjoyable.

PR Newswire

WuKong Education Joins Asian American Authors to Celebrate AAPI Heritage Month by Matching Book Donations to US K-12 Schools

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MOUNTAIN VIEW, Calif., May 12, 2023 /PRNewswire/ — WuKong Education, a leading online education technology company with over 300,000 students worldwide, joins four Asian American authors to donate 1,500+ books to 100 US K-12 schools during Asian American and Pacific Islander (AAPI) Heritage Month. As WuKong Education marks its seventh anniversary, the brand launches additional offerings to showcase its diverse and inclusive values.

Among the many groups who were honoring AAPI Heritage Month in May, two groups of likeminded educators initiated book drives aiming to inspire children to see themselves as heroes.

From WuKong Education’s new headquarters in Silicon Valley, the team coordinated with rural schools in Asia to set up book corners for disadvantaged children. Since WuKong Education’s inception in 2016, the company’s online classes have expanded to 300,000 families in 118 countries with the focus of teaching Chinese as a second language. As the majority of WuKong students’ families share a common root in Asia, rural schools in Indonesia and Thailand were chosen to host reading corners with hundreds of new books.

Meanwhile, in New York, Massachusetts, and Washington State, four Asian American authors, Yobe Qiu, Serena Li, Vincent Yee, and Tracy Guan met over Zoom to plan the “Asian American Books, Everywhere All at Once” book drive. Inspired by the Oscar-winning movie “Everything Everywhere All at Once,” the authors’ goal was to send 500 books to 25 schools in the US. This is crucial, as less than 15% of books published feature an AAPI character.

Rebecca Deng, Head of Marketing for North America at WuKong Education, saw both great causes. “We wanted to do something to make it even bigger and better. I knew more schools would love to receive AAPI books,” said Deng, who is a mother of two. With WuKong Education’s matched donation, 1,500+ books will be donated to 100 schools during AAPI Heritage Month.

In addition, WuKong Education will support the Disney+ series “American Born Chinese,” starring Daniel Wu who plays Sun Wukong. During the series’ release in May, WuKong Education will give away Disney+ annual memberships to lucky WuKong students, allowing more children to see themselves as heroes in mainstream media. These activities demonstrate WuKong Education’s values and social responsibility to the AAPI community, as well as provide all students with richer learning and cultural experiences.

Founded in New Zealand in 2016, WuKong Education was one of the first companies to enter the Chinese language online education field. In 2021, the company launched WuKong Math to help improve young learners’ logical thinking, problem solving, and comprehensive mathematical abilities. As part of its seventh anniversary, WuKong Education plans to launch English Language Arts classes, as requested by its students, 88% of whom speak English as their first language. This summer, students will be able to take WuKong Chinese, WuKong Math, and WuKong English with WuKong’s network of 3,000+ teachers.

PR Newswire

Computer Vision software developer VisualCortex joins Axis Technology Partner Program

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VisualCortex joins Axis Technology Integration Partner Program to deliver computer vision software and video analytics solutions to Axis Communications’ global network of customers and partners across 50 countries

SYDNEY and LUND, Sweden, May 11, 2023 /PRNewswire/ — VisualCortex – the Video Intelligence Platform connecting computer vision’s potential to real-world business outcomes – has signed an agreement with Axis Communications, a leader in network video solutions, joining the Axis Technology Integration Partner Program.


Under the terms of the agreement, VisualCortex will make its video analytics technology – particularly its People Counting Solution and Vehicle Counting Solution – readily accessible to Axis Communications clients, partners and system integrators across the globe.

“As an Axis Technology Integration Partner, VisualCortex will provide dedicated integrations and support to enable Axis Communications’ global ecosystem to take full advantage of our platform approach to computer vision,” said VisualCortex CEO and Co-Founder, Patrick Elliott. “Axis Communications is a recognized leader in video surveillance and innovative network solutions. With a presence in over 50 countries, building the VisualCortex – Axis relationship is a vital part of our global growth plans and partner-based go-to-market strategy.”

“Axis’ channel-centric business model recognizes that the specialist knowledge and capabilities of partners like VisualCortex play a critical role in driving the shift from analog to digital video surveillance – something we’ve been doing for over 30 years,” said Regional Director for Oceania at Axis Communications, Wai King Wong. “Supporting vendors like VisualCortex to develop deep integrations to Axis devices has been a core part of Axis’ customer enablement strategy.”

“The Axis Technology Integration Partner Program is a powerful collaboration platform that provides our partners with the tools and resources needed to develop advanced video surveillance solutions that truly empower our customers,” said Wai King Wong. “The Axis Technology Integration Partner Program gives VisualCortex access to the tools, technical support and symbiotic marketing opportunities needed to deliver world-class video analytics solutions to our customers in quick-time. This strategic partnership marks a pivotal step in our global growth plans and partner-based go-to-market strategy, and we are excited to be working with VisualCortex to deliver cutting-edge solutions to our valued customers worldwide.”

About VisualCortex

VisualCortex is making video data actionable in the enterprise. Its Video Intelligence Platform provides the stability and flexibility to productionize computer vision technology at scale. Able to be used for any video analytics use case in any industry, VisualCortex’s production-ready cloud-based environment transforms video assets into analyzable streams of data.

The VisualCortex platform delivers the artificial intelligence smarts, governance and usability, enabling organizations to connect any number of video streams, repositories and use existing commodity hardware. An intuitive user interface, out-of-the-box reporting, range of configurations and integrations empower non-technical people to produce, analyze and act on insights derived from computer vision throughout the enterprise. Organizations can easily combine these AI-generated video insights with other data sources and systems to facilitate both real-time operations and strategic analysis. The VisualCortex Model Store also provides a secure marketplace for customers, partners and independent machine learning experts to share quality controlled computer vision models. 

For more information, visit www.visualcortex.com

About Axis Communications

Axis enables a smarter and safer world by creating solutions for improving security and business performance. As a network technology company and industry leader, Axis offers solutions in video surveillance, access control, intercom, and audio systems. They are enhanced by intelligent analytics applications and supported by high-quality training.

Axis has around 4,000 dedicated employees in over 50 countries and collaborates with technology and system integration partners worldwide to deliver customer solutions. Axis was founded in 1984, and the headquarters are in Lund, Sweden.

For further media information, interviews or images, or product demonstrations, please contact:

Lachlan James, VisualCortex Chief Marketing Officer, on +61 (0)431 835 658 or lachlan.james@visualcortex.com

For regular updates, follow VisualCortex on Twitter (@VisualCortexApp), LinkedIn (VisualCortex), YouTube (VisualCortex) and Facebook (@VisualCortexApp).

For regular industry news and analysis, subscribe to VisualCortex’s mailing list here: https://visualcortex.com/contact-us/

PR Newswire

TECNO CAMON 20 Series to Roll Out Android 14 Beta

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Delivering a host of updates for privacy, security, performance, and user customization, Android 14 promises to further enhance the CAMON 20 series’ user experience.

HONG KONG, DUBAI, UAE and ABUJA, Nigeria, May 11, 2023 /PRNewswire/ — Global innovative brand TECNO just confirmed to be one of the first smartphone manufacturers to offer Google’s Android 14 Beta release and will run it on its latest launched CAMON 20 series this fall, bringing a range of upgrades and enhancements to elevate the CAMON 20 series’ total experience to greater heights. Android 14 aims to further enhance the CAMON 20 series’ user experience by delivering a host of privacy, security, performance, and user customization updates.

Android 14 Beta for TECNO CAMON 20 series
Android 14 Beta for TECNO CAMON 20 series

“Guided by its brand essence of ‘Stop At Nothing’, TECNO is committed to unlocking the best and newest technologies for forward-looking individuals from hardware and design innovations to the latest software developments. As such, we’re delighted to be continuing our long-term partnership with Google to bring Android 14 Beta to the newest CAMON 20 Series, which allows our users to be among the first to experience the pleasures of the new features on Android 14.” said Jack Guo, General Manager of TECNO.

The recently launched CAMON 20 series delivers a winning combination of high-performance photography, unique design elements and an outstanding user experience. Featuring 5000 times/second Sensor-Shift OIS Anti-Shaking Technology and a 50MP RGBW Ultra Sensitive Sensor, CAMON 20 Premier 5G is a master of both nighttime photography and steady portrait video. Meanwhile, TECNO’s MUSE Design Award-winning CAMON PUZZLE Deconstructionist Design sees the CAMON 20 series challenge the industry’s traditionally minimalist aesthetic, fusing three-dimensional ribbed Magic Skin and advanced ceramic material in an innovative back cover.

Delivering a host of upgrades for privacy, security, performance, and user customization, the Android 14 Beta will help to further enhance the CAMON 20 series’ user experience in ways such as –

  • Higher Privacy Level – Starting with Android 14, apps with a target Sdk Version lower than 23 cannot be installed, making it harder for malware to avoid such security and privacy improvements. Ultimately, it serves to help improve security and privacy for smartphone users.
  • Longer Battery Life- Android 14’s updated functionality enables the system to better handle the background tasks, downloads, and uploads, etc., which in turn improves the system efficiency to reduce power drain for longer battery life.
  • Larger Fonts and Smarter Scaling – To provide low-vision users with better accessibility options, Android 14 allows larger font scaling. A non-linear scaling curve strategy ensures large text and small text elements scale at different rates to prevent large elements from scaling too much, while also preserving the proportional hierarchy between elements of different sizes.

For more information about the Android 14 Beta for the CAMON 20 series, please visit: https://spot.shalltry.com/#/detail?tid=252415

For any related media queries, please contact pr.tecno@tecno-mobile.com 

About TECNO

TECNO is an innovative technology brand with operations in over 70 countries and regions across five continents. Since its launch, TECNO has been revolutionizing the digital experience in emerging global markets, relentlessly pushing for the perfect integration of contemporary, aesthetic design with the latest technologies. Today, TECNO has developed into a recognized leader in its target markets, delivering state-of-the-art innovation through a wide range of smartphones, smart wearables, laptops and tablets, HiOS operating systems and smart home products. Guided by its brand essence of “Stop At Nothing”, TECNO is committed to unlocking the best and newest technologies for forward-looking individuals. By creating stylish, intelligent products, TECNO inspires consumers worldwide to never stop pursuing their best selves and their best futures. For more information, please visit TECNO’s official site: www.tecno-mobile.com.