Tag Archives: CPR

CGTN:”The Art Beat” Season II- Eight Artists Offer Fresh Takes on the China Story

BEIJING, Aug. 30, 2023 /PRNewswire/ — The Art Beat Season II premiered on CGTN television and various social media platforms on August 21. Each of its eight episodes focuses on the life and work of a different leading contemporary Chinese artist. Produced in multiple languages, it describes how their art tells China’s story from a cultural perspective.


Through an examination of their personal philosophies and their original paintings, performances and writings, the series reveals how, emboldened by the inspiration and strength they have gained from Chinese traditions, each artist has embraced innovation and taken his or her chosen art form into new areas of exploration.

Renowned artist Wu Yueshi believes that the essence of Chinese painting is found in the spiritual aspect of the whole. Only through deep cultivation is it possible to master subtlety of expression and gradually gain an insight into the profound and vast realm of Chinese art.

“Read, then paint” is the motto of Liu Wanming, an artist who is committed to depicting nature in the spirit of traditional Chinese painting. His love of reading, he says, has enabled him to bring an additional dimension of ancient charm to his paintings of the scenery of his hometown.

As an artist constantly seeking innovation, Shi Qi proposes the concept of “Three Forms in One”. The duality of representation and abstraction, he says, is incomplete. Rather, the trio of representation, impression and abstraction offer a fuller picture, defining both life and artistic creation.

“Art is a lifestyle that makes me happy,” says He Jialin, a painting master with a wide range of artistic interests. He believes in cultivating patriotism through his work and promoting traditional Chinese culture. In recent years, he has visited many ancient villages in China, determined to preserve the fading cultural heritage of these communities.

Ballet dancer Feng Ying’s career has been defined by a relentless pursuit of excellence and artistic expression. Persistent and dauntless, she has overcome various difficulties and ascended to the very pinnacle of her profession. Today, as the director of the National Ballet of China, she remains as committed as ever to her art.

“Audiences should be glued to their seats, listening intently to your every word,” says pingshu artist Tian Lianyuan. On stage, he uses just three everyday objects as props to tell his story – a fan, a wooden block and a handkerchief. Yet he manages to conjure “a life story, a historical drama” in which the audience become immersed in thousands of years of history and vast landscapes populated by vivid characters.

As the youngest recipient of the Mao Dun Literature Prize,Alai says he was destined to write. As a writer, he keenly evokes moments of excitement, confusion and pain without ever losing his sense of contemplation. “Humans are both the starting point and the destination,” he says.

“Using broad strokes and big ink blocks to bring a three-dimensional effect to the paper,” has been the defining approach of Zhou Jingxin. In 1995, he debuted a series of paintings that introduced a brand new style: “Ink Sculpture”. He firmly believes that traditional Chinese painting is consistent with the concept of three-dimensionality.

Eddid Financial Forges Strategic Alliance with Finnet and MPay (0156.MY) to Explore Fintech Opportunities in Indonesia


HONG KONG, Aug. 29, 2023 /PRNewswire/ — Eddid Financial (“Eddid” or the “Group”), an all-encompassing financial group centered around fintech, is pleased to announce a strategic partnership with PT Finnet Indonesia (“Finnet”) and ManagePay Systems Berhad (“MPay”, 0156.MY), two prominent fintech companies in Indonesia and Malaysia, respectively. The three parties signed a Memorandum of Understanding (MOU) to form a tripartite collaboration to explore financial innovations in Indonesia.

As part of this partnership, the three parties will collaborate on various initiatives, combining their expertise and resources to develop innovative fintech solutions and expand their presence in the Indonesian market. The collaboration aims to establish a joint venture in Indonesia as a vehicle to implement the partnership’s goals and further commercial arrangements.

Finnet is a subsidiary of PT Telkom Indonesia (TLK.NYSE), a state-owned information and communications technology enterprise and the largest telecommunications network in Indonesia. As a renowned fintech services provider, Finnet offers a wide array of services in Indonesia, such as remittance, digital payments, electronic money, QRIS payments.

MPay, a listed company in Malaysia, is a provider of end-to-end electronic payment solutions for banks and financial institutions, with over two decades of experience. Over the years, it has expanded its offerings to include P2P lending, micro lending, project financing, P2P Remittance, cross-border remittance, merchant acquiring, and e-Wallet & Mastercard prepaid card issuer in Malaysia.

The MOU reflects a shared commitment to enhancing fintech solutions and expanding reach in the rapidly growing Indonesian market. Significant prospects in Indonesia’s fintech landscape can be tapped by utilizing the combined strengths of each of the parties.

This latest alliance is a milestone addition to the Group’s diversified portfolio of strategic partnerships in the Southeast Asian region. With a proven track record of successful collaborations, including associations with MPay in Malaysia, the online trading platform Anfin in Vietnam, and OCBC Sekuritas, a subsidiary of OCBC Bank in Indonesia, Eddid Financial reaffirms its dedication to augmenting its presence in this fast-paced, evolving market. This persistent effort positions the Group at the vanguard of this dynamic progression, paving the way for future growth opportunities.

About Eddid Financial
Anchored in Hong Kong, Eddid Financial is an all-encompassing financial group centered around fintech and dedicated to integrating cutting-edge artificial intelligence technologies and other latest technologies into its enterprise DNA.  The diversified businesses of Eddid Financial range from retail to institutional and include but are not limited to fintech, internet finance, wealth management, asset management, investment banking, and virtual assets. Eddid Financial is committed to providing one-stop financial services and products to customers through high-quality investment solutions. Members of the Group hold a variety of licenses and memberships across key financial markets, including Hong Kong and the United States. These include Hong Kong Securities and Futures Commission (SFC) regulated activities (“RA”) licenses for types 1, 2, 3, 4, 5, 6, and 9; SEHK and HKCC participant (OTP-C broker number: 0974 and 0977), Insurance Broker Company license; Trust or Company Service Provider License in Hong Kong; as well as approved membership with the National Futures Association (NFA) in the United States and registered broker dealer of the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

For further information on Eddid Financial, please visit www.eddid.com.hk.

Quhuo to Report Unaudited Financial Results for First Half of 2023 on August 31, 2023

BEIJING, Aug. 28, 2023 /PRNewswire/ — Quhuo Limited (NASDAQ: QH) (“Quhuo,” the “Company,” “we” or “our”), a leading gig economy platform focusing on life services in China, today announced that it will report unaudited financial results for the first half of 2023 before the open of the U.S. markets on Thursday, August 31, 2023.

The Company’s management will hold a conference call on Thursday, August 31, 2023, at 8:00 a.m. U.S. Eastern Time (8:00 p.m. Beijing/Hong Kong time on the same day) to discuss the unaudited financial results.

For participants who wish to join the call using dial-in numbers, please preregister online prior to the call to receive the dial-in details.

Conference Call Preregistration

Participants can register for the conference call by navigating to https://s1.c-conf.com/diamondpass/10033320-jh3e5r.html. Once preregistration has been completed, participants will receive the dial-in numbers, a Passcode, and a unique access PIN. The conference ID is 10033320. To join the conference, please dial the number you receive, enter the passcode followed by your PIN, and you will be joined to the conference instantly.

Once preregistration has been completed, participants will receive 
A live and archived conference call webcast will also be available at the Company’s investor relations website at https://ir.quhuo.cn/.

A replay will be accessible after the conclusion of the conference call through September 6, 2023 by dialing the following numbers:

United States:

1855 883 1031

China Domestic:

400 1209 216

Hong Kong:

800 930 639

Replay PIN: :

10033320

ABOUT QUHUO LIMITED

Quhuo Limited (NASDAQ: QH) (“Quhuo” or the “Company”) is a leading gig economy platform focusing on local life services in China. Leveraging Quhuo+, its proprietary technology infrastructure, Quhuo is dedicated to empowering and linking workers and local life service providers and providing end-to-end operation solutions for the life service market. The Company currently provides multiple industry-tailored operational solutions, primarily including on-demand delivery solutions, mobility service solutions, housekeeping and accommodation solutions, and other services, meeting the living needs of hundreds of millions of families in the communities.

With the vision of promoting employment, stabilizing income and empowering entrepreneurship, Quhuo explores multiple scenarios to promote employment of workers, provides, among others, safety and security and vocational training to protect workers, and helps workers plan their career development paths to realize their self-worth.

NetEase Games Held the “2023 Games Unbounded” Conference in Cologne, Germany

COLOGNE, Germany, Aug. 28, 2023 /PRNewswire/ — The “2023 Games Unbounded” NetEase Games Conference was held in Koelnmesse, Cologne on August 23rd. At the conference, NetEase Games announced updates to its International Business Plan for NARAKA: BLADEPOINT and Where Winds Meet, and invited industry veterans to discuss the current landscape and to consider potential opportunities and challenges both current and future.

There have been many high-quality titles produced by Chinese developers coming to the fore in recent years. As a leading global developer and publisher with multiple local studios, NetEase Games continues to embrace brilliant game creators both in China and around the world. NetEase Games has empowered several game developers to create titles with traditional cultural background settings and elements. NARAKA: BLADEPOINT and Where Winds Meet are two such titles that have received great global attention. These titles were both showcased at the conference.

Senior marketing director of NARAKA: BLADEPOINT, Riten Huang introduced some of the game’s achievements including global e-sports tournaments. He also announced the official launch of the 2023 World Championship. The Qualifying rounds will take place in six major regions worldwide in October, with the finals to be held in China in December.

Senior Marketing Director of NARAKA: BLADEPOINT, Riten Huang
Senior Marketing Director of NARAKA: BLADEPOINT, Riten Huang

The lead producer of Where Winds Meet from Everstone Studio, shared the latest design of in-game buildings and architecture based on actual Northern Song Dynasty historical sites and documentaries. The Wuxia-style setting, narrative, skills, and combat combine to express the unique concept of Chinese martial arts. A co-research and co-creation project to enhance player experience is also in progress. The producer further revealed the game’s co-testing schedule with the developers in Montreal, Canada in September.

Cord Eberspaecher, Former German Director, of the Confucius Institute at Dusseldorf and Heinz Hermanns, President, Interfilm Berlin discussing Where Winds Meet
Cord Eberspaecher, Former German Director, of the Confucius Institute at Dusseldorf and Heinz Hermanns, President, Interfilm Berlin discussing Where Winds Meet

About NetEase Games

NetEase Games, the online games division of NetEase, Inc. (NASDAQ: NTES and HKEX:9999), is a leading global developer and publisher of video game IP across a variety of genres and platforms. NetEase Games’ development and publishing slate include titles such as Harry Potter: Magic Awakened, Knives Out, and Naraka: Bladepoint, and partnerships with major entertainment brands such as Warner Bros and Mojang AB (a Microsoft subsidiary). NetEase Games also supports the growth and development of its innovative global studios in Canada, Europe, Japan and the United States. For more information, please visit https://www.neteasegames.com/

Yeahka Approved an Amount of US$100 Million Share Repurchase Plan

Demonstrating Long-term Confidence of Yeahka’s Business Prospects

HONG KONG, Aug. 27, 2023 /PRNewswire/ — The Board of Yeahka Limited (“Yeahka” or the “Company,” Stock Code: 9923.HK) is pleased to approve an additional amount of US$100 million for on-market share repurchase and RSU share purchase (the “Share Repurchase Plan“), illustrating strong confidence of the company’s business long-term prospects.

As disclosed in the Company’s results announcement dated August 24, 2023, the Company has achieved solid growth as its businesses benefited from the recovery in domestic consumption. In particular:

  • Total gross payment volume (GPV) of one-stop payment services reached RMB1,419.2 billion, increased 33.5% year-on-year;
  • Total gross merchandise value (GMV) of in-store e-commerce services exceeded RMB2.4 billion, increased 78.9% year-on-year;
  • Total revenue reached RMB2,062.2 million, increased 25.6% year-on-year. Revenue from one-stop payment services increased by 44.3% to RMB1,835.3 million;
  • Adjusted EBITDA reached RMB290.9 million, increased 317.4% year-on-year.

With a solid growth of all business lines, the Company maintains a strong cash flow and finance the Share Repurchase Plan, demonstrating the confidence in the company’s long-term value and commitment to creating value for shareholders.

About YEAHKA LIMITED (Stock Code: 9923.HK)
Yeahka is a leading payment-based technology platform dedicated to creating value for merchants and consumers. Our goal is to build an independent and scalable commercial digitalized ecosystem to enable seamless, convenient, and reliable payment services to merchants and consumers, and to further expand into serving merchants and consumers with our diversified product portfolio, which now includes (i) in-store e-commerce services, providing consumers with local lifestyle services of great value, and (ii) merchant solutions, enabling merchants to better manage and drive business growth.

For more information, please visit https://www.yeahka.com/ 

Infinix Debuts ZERO 30 SERIES at the Italian Pavilion in Venice, Europe’s Premier Film Forum to Pioneer UHD Vlogging

VENICE, Italy, Aug. 25, 2023 /PRNewswire/ — Infinix collaborates in organizing the panel session “New Image, New Lifestile | Cinema in the New Media, Capture Your Own Story” organized on September 1st at the Italian Pavilion in Venice, on the occasion of the Venice International Film Festival. The collaboration celebrates the increasing synergy between advances in smartphone technology and art of storytelling and filmmaking. Centered around the launch of the latest Infinix ZERO smartphone, the partnership is the first of its kind, uniting two brands dedicated to the creation of incredible stories that resonate across global boundaries.

Capture Your Own Story
Capture Your Own Story

Traditional Cinema Meets Next-Gen Vlogging

From classic cinema to social media posts, Infinix is proving that technology has the power to enable more engaging storytelling than ever before. By partnering with the Italian Pavilion FOR THE SESSION NEW IMAGE NEW LIFESTYLE | CINEMA IN THE NEW MEDIA TIME, CAPTURE YOUR OWN SORY on September 1st, one of the most respected institutions in global cinema, Infinix is pushing the boundaries of filmmaking to recognize the importance of storytelling through smartphone video, and the art of vlogging.

Young people today place greater emphasis on their personal lives and the ability to share experiences with others. This desire for self-expression is mirrored in the content that they create, and a new inclination to explore the art of storytelling and the creation of compelling narratives that are quickly becoming the cinema of today on new platforms including social media.

Infinix ZERO 30 SERIES Global Launch

The Infinix ZERO Series is an example of how Infinix empowers young people with first-in-class technology, creating powerful and attainably priced products that challenge convention, and break with tradition. The latest model in the Infinix ZERO smartphone series, takes front camera photography to new places, allowing users to be part of a new era of imaging and storytelling. 

During the Italian Pavilion Forum ” New Image, New Lifestile. Cinema in the New Media, Capture Your Own Story”, Infinix will unveil the latest edition to the Infinix ZERO smartphone series. In front of an audience of world leading tech, lifestyle and photography vloggers, Infinix CMO Lake Hu will outline the brand’s vision of smartphone development, introducing the ‘Story On’ concept.

The new Infinix ZERO series smartphone will then be unveiled on stage by Infinix India CEO, Anish Kapoor. Attendees will also be shown an exclusive documentary created by Infinix fans, demonstrating the incredible potential of smartphones for professional, cinematic-style filmmaking. 

‘Capture Our Own Story’ – Mobile Vlog Awards of Infinix

The ‘Capture Your Own Story’ Mobile Vlog Awards will also be launched on the occasion of the Venice International Film Festival. The contest encourages young creators worldwide to harness the advanced video capabilities of Infinix smartphones to capture life uniquely, crafting short film videos that reflect their individual perspectives. Infinix invites vloggers of all types, and backgrounds to contribute to the evolution of mobile imaging, creating a space for youthful creativity and inspiration to thrive.

Infinix Shines On the Occasion of the 80th Venice Film Festival

The partnership between Infinix and the Italian Pavilion Forum ” New Image, New Lifestile. Cinema in the New Media, Capture Your Own Story” sets a new precedent in collaborative branding, uniting to set in motion a transition to a world where we can all become masters of cinematic creativity and self-expression. 

Infinix’s pursuit of technological innovation puts disruptive, next-generation technology in the hands of young people everywhere. Venice is the perfect stage upon which new and innovative filmmaking and vlogging can be experienced, celebrated and better understood. Infinix aims to contribute to shaping the future of filmmaking, vlogging, and the development of upcoming directors and cinematographers.

About Infinix

Infinix Mobility is a rapidly emerging technology brand that designs, manufactures and markets an expanding portfolio of smart devices worldwide under the Infinix brand, which was founded in 2013. Targeting today’s youth with first in class technology, Infinix creates trendy, powerful and attainably priced smart devices that bring the latest technology on the market to users around the world at a time when they need it at a price that they want.

For more information, please visit: http://www.infinixmobility.com/

Unlocking the Latest Trends in Fashion Jewelry: Are You Up to Date?


YIWU, China, Aug. 25, 2023 /PRNewswire/ — Fashion jewelry, a time-tested Yiwu export, has once again delivered impressive results this summer.

Fashion jewelry
Fashion jewelry

Yiwugo.com, the official website of the Yiwu Commodity Market, is the largest commodity wholesale market in the world. Popular search terms such as “hair clips,” “necklaces,” “earrings,” and “bracelets” have consistently remained within the top 20 rankings for several months, according to Yiwugo’s data. From May 1, 2023 to August 23, 2023, transaction volumes for “bracelets” and “necklaces” have demonstrated remarkable growth compared to the same period in the previous year. The “bracelets” category has experienced an impressive surge of approximately 30.8 times, while “necklaces” have seen a growth of around 23.6 times. Additionally, the “earrings” category has witnessed a substantial increase of approximately 15 folds. Furthermore, orders for “hair clips” have surged by 49.2% in comparison to the same period last year, with the transaction volume nearly quadrupling from the previous year. Through visits to several well-established jewelry merchants boasting over two decades of experience, it becomes apparent that their achievements are a result of the combined efforts of the Yiwugo platform’s promotional strategies and the unwavering dedication of the merchants.

Top Selling for Three Months: Dreamcatcher Ornaments

Yuan Bangyun is no stranger to the phenomenon of soaring orders. With nearly two decades of experience in jewelry design, manufacturing, and sales, Manxiuni Jewelry has positioned itself as a trusted brand. Through the consistent introduction of novel and innovative products on a daily basis, Yuan Bangyun showcases a steadfast dedication to offering customers an ever-evolving array of choices.

During the peak sales season, Yuan Bangyun’s Enterprise store on Yiwugo unveils more than 100 new products every month, accompanied by an even wider selection of items accessible to customers through offline channels.

In May, Manxiuni Jewelry introduced the Dreamcatcher collection of fashion accessories, which garnered favorable feedback from domestic e-commerce customer groups. Notably, a specific pair of earrings has remained consistently in high demand, with daily orders for over 500 sets for the past three months. Yuan Bangyun commented that this is just a taste of a minor hit item.

The quality of exported jewelry hinges on an effective plating process. Yuan Bangyun noted that the current level of plating technology and its associated costs have increased approximately four times compared to previous years. The continuous refinement of craftmanship has fostered high customer loyalty among the company’s overseas clients.

For almost 8 consecutive years, a loyal customer from Russia has been ordering the same classic pair of earrings from Yuan Bangyun. The monthly order value has consistently stayed at around $10,000, with orders coming in regularly and payments being made promptly, even during times of conflict. This enduring partnership can be attributed to the continuous enhancement of the company’s product quality over the years.

Awakening Love for Beauty: Dominance of Dopamine Color Scheme and Barbie Pink

Wan Chengying’s venture, Yangqin Accessory Firm, specializes in hair clips, hairbands, and related products, with nearly 80% of its business concentrated in foreign trade. The company has launched over 300 new products this summer, with themed collections particularly designed for popular trends both in the domestic and international markets. These products have been distributed through innovative fast-moving consumer goods channels, encompassing e-commerce platforms and other emerging distributors. With dopamine-inspired color schemes and Barbie pink as the flagship, it captured and deeply resonated with women’s innate craving for beauty.

In early July this year, the company unveiled a collection of dopamine-colored hair clips, which generated over 200,000 RMB in domestic market orders within a month. Taking inspiration from the success of the movie “Barbie”, Wan Chengying also introduced a line of premium Barbie pink alloy products. The use of premium materials perfectly encapsulates the sophisticated allure of high-saturation pink. Currently, many customers from South Korea, as well as the domestic market, have shown tremendous interest in these products.

To Wan Chengying’s astonishment, this summer has witnessed a notable influx of new buyers who are specifically seeking purchases from Yiwugo. These intermediaries, who now handle daily order placements, have become larger in number. Despite of the buyers’ scales, they are highly active—a trend that was unseen in past years.

Allergy-Free Earrings: A Global Craze

Chen Xiyue, the owner of Jenny Jewelry, has a rather distinct experience. Quite a few overseas customers reached out to her via video calls through Yiwugo to confirm her store details before making online orders. An African customer from Botswana placed an initial order worth several thousand yuan through Yiwugo. This buyer has since placed two more repeat orders, each amounting to tens of thousands of yuan. Currently, they have fostered a strong partnership with a deepened sense of trust.

A diverse array of hypoallergenic earrings, crafted by Jenny Jewelry, caters to a broad age spectrum. Since their debut two years ago, these earrings have achieved impressive success, evolving from online popularity to offline demand. They have garnered significant acclaim and are sought-after by customers from both home and abroad. These earrings have successfully secured shelf space in supermarkets across various countries and regions, including South America and Dubai, where they maintain robust and consistent sales.

High quality, free from the fear of travel test – AIMA electric vehicles from China are loved by consumers

TIANJIN, China, Aug. 25, 2023 /PRNewswire/ — Recently, AIMA Technology, an electric two-wheeler brand from China, strengthened its global market layout. As the world’s largest electric two-wheeler production base, China’s exports of electric two-wheelers are favored by more and more consumers. As one of China’s electric two-wheeled vehicle head enterprises, AIMA electric vehicle has a good performance in different global markets such as China, North America, Europe and Southeast Asia.

The reason why AIMA electric vehicles can be loved by users around the world is inseparable from its excellent quality and excellent performance. In the electric two-wheeler industry for more than 20 years, Emma has always adhered to customer-oriented and quality first. At the production end, AIMA uses advanced intelligent technology to improve the production quality of each link. The product, from a little thing such as a screw to a whole vehicle, must go through the strict test and verification of the laboratory.

While striving for excellence and maintaining high quality, AIMA has empowered new electric vehicles such as Dollar, Mini Bear, Sweetie, Sweetie Plus through the core strength of the three-power system composed of core motor, electronic control and battery applications and innovative technology, which brings users a fast startup, sufficient power and long battery life experience.

Beginning with the needs of users, taking fashion as the base and science and technology as the principle, we continue to create a good quality vehicle with love for global users. AIMA electric vehicle is polishing the Chinese brand name card with the quality of excellence, so that more consumers fall in love with Chinese electric two-wheelers and enjoy the fun of free travel.

Focusing on High-performance Advanced Packaging and Global Layout, JCET Achieved Quarter-on-Quarter Growth in Q2 2023


Q2 2023 Financial Highlights:

  • Revenue was RMB 6.31 billion, an increase of 7.7% quarter-on-quarter.
  • Generated RMB 1.19 billion cash from operations. With net capex investments of RMB 0.75 billion, free cash flow for the quarter was RMB 0.44 billion.
  • Net profit was RMB 0.39 billion, an increase of 250.8% quarter-on-quarter.
  • Earnings per share was RMB 0.22, as compared to RMB 0.39 in Q2 2022.

1H 2023 Financial Highlights:

  • Revenue was RMB 12.17 billion.
  • Generated RMB 2.42 billion cash from operations. With net capex investments of RMB 1.56 billion, free cash flow for the first half of 2023 was RMB 0.86 billion.
  • Net profit was RMB 0.5 billion.
  • Earnings per share was RMB 0.28, as compared to RMB 0.87 in 1H 2022.

SHANGHAI, Aug. 25, 2023 /PRNewswire/ — Today, JCET Group (SSE: 600584), a leading global provider of integrated circuit (IC) back-end manufacturing and technology services, announced its financial results for the first half year of 2023. The financial report shows that in the first half of 2023, JCET achieved revenue of RMB 12.17 billion, and net profit of RMB 0.5 billion. In Q2 2023 JCET achieved revenue of RMB 6.31 billion, an increase of 7.7% quarter-on-quarter, and net profit of RMB 0.39 billion, an increase of 250.8% quarter-on-quarter.

In the first half of 2023, the global semiconductor industry was in the fluctuating stage of bottoming out and rebounding. JCET adhered to high-performance advanced packaging technologies and product development mechanism, focusing on solutions for emerging applications such as high performance computing and storage, enhanced strategic layout of production capacity, and further strengthened its market position in the global IC industry.

JCET continues to enhance its technological innovation, with R&D investment of RMB 0.67 billion in the first half of this year, a year-on-year increase of 5.0%. The company’s multi-dimensional fan-out heterogeneous integration solution XDFOI™ for 2.5D/3D packaging achieved HVM, providing high-performance chiplet package solutions and production capacity for global customers. In collaboration with multiple customers in the field of high-density SiP technology, JCET has achieved the development and mass production of multiple RFFE modules and AiP modules in the 5G millimeter-wave market. The company is intensifying its market exploration in sectors such as automotive electronics, industrial electronics, and high-performance computing. During the reporting period, revenue from automotive electronics achieved a year-on-year growth of 130%. The company has established a subsidiary with controlling stake in the Lingang New Area of Shanghai, reinforcing its strategic capacity layout in the field of automotive electronics.

In addition, the company has optimized various operational expenses and asset structures, maintaining a stable cash flow capability. It has achieved positive free cash flow for 15 consecutive quarters.

While pursuing its own development, JCET actively engages in philanthropic efforts, contributing to society in areas such as health and environmental protection, disaster relief during floods, and science popularization initiatives.

Mr. Li Zheng, CEO of JCET, said, “JCET has always centered its focus on customers, and achieved quarter-on-quarter growth in performance for the second quarter of this year. Looking ahead, the direction of high-performance advanced packaging technology driving the innovation of the IC industry has become increasingly clear. JCET remains committed to achieving high-quality development through professional and international management, and will continue to create value for investors and the IC industry.”

For more information, please refer to the JCET 1H FY2023 Report.

About JCET Group

JCET Group is the world’s leading integrated-circuit manufacturing and technology services provider, offering a full range of turnkey services that include semiconductor package integration design and characterization, R&D, wafer probe, wafer bumping, package assembly, final test and drop shipment to vendors around the world.

Our comprehensive portfolio covers a wide spectrum of semiconductor applications such as mobile, communication, compute, consumer, automotive and industry etc., through advanced wafer level packaging, 2.5D/3D, System-in-Packaging, and reliable flip chip and wire bonding technologies. JCET Group has two R&D centers in China and Korea, six manufacturing locations in China, Korea and Singapore, and sales centers around the world, providing close technology collaboration and efficient supply-chain manufacturing to customers in China and around the world.

CONSOLIDATED BALANCE SHEET (Unaudited)                                                                

RMB in millions

Jun 30, 2023

Dec 31, 2022

ASSETS

Current assets

  Currency funds

5,352

2,459

  Trading financial assets

2,006

4,316

  Derivative financial assets

0

18

  Accounts receivable

3,545

3,689

  Receivables financing

105

59

  Prepayments

127

110

  Other receivables

63

61

  Inventories

3,003

3,152

  Other current assets

251

279

Total current assets

14,452

14,143

Non-current assets

  Long-term receivables

41

40

  Long-term equity investments

744

765

  Other equity investments

456

440

  Investment properties

87

89

  Fixed assets

19,574

19,517

  Construction in progress

710

807

  Right-of-use assets

567

578

  Intangible assets

483

483

  Goodwill

2,293

2,210

  Long-term prepaid expenses

22

28

  Deferred tax assets

274

247

  Other non-current assets

106

61

Total non-current assets

25,357

25,265

Total assets

39,809

39,408

LIABILITIES AND EQUITY  

Jun 30, 2023

Dec 31, 2022

Current liabilities

  Short-term borrowings

1,211

1,174

  Derivative financial liabilities

2

0

  Notes payable

215

339

  Accounts payable

4,603

4,634

  Contract liabilities

273

214

  Employee benefits payable

689

984

  Taxes and surcharges payable

158

210

  Other payables

396

378

  Current portion of long-term liabilities

2,857

3,096

  Other current liabilities

4

4

Total current liabilities

10,408

11,033

Non-current liabilities

  Long-term borrowings

3,013

2,721

  Lease liabilities

549

562

  Long-term employee benefits payable

11

14

  Deferred income

362

340

  Deferred tax liabilities

14

40

  Other non-current liabilities

41

55

Total non-current liabilities

3,990

3,732

Total liabilities

14,398

14,765

Equity

  Paid-in capital

1,787

1,780

  Capital reserves

15,265

15,080

  Accumulated other comprehensive income

750

400

  Specialized reserves

2

0

  Surplus reserves

229

229

  Unappropriated profit

7,292

7,154

Total equity attributable to owners of the parent

25,325

24,643

Minority shareholders

86

0

Total equity

25,411

24,643

Total liabilities and equity

39,809

39,408

CONSOLIDATED INCOME STATEMENT (Unaudited)                                                                                                     

RMB in millions, except share data

Three months ended

Six months ended

Jun 30, 2023

Jun 30, 2022

Jun 30, 2023

Jun 30, 2022

Revenue

6,313

7,455

12,173

15,594

Less: Cost of sales

5,359

6,107

10,525

12,706

          Taxes and surcharges

27

27

47

43

          Selling expenses

51

48

100

97

          Administrative expenses

175

236

347

494

          Research and development expenses

360

315

669

638

          Finance expenses

(7)

(8)

51

15

            Including: Interest expenses

68

49

131

92

                     Interest income

27

9

35

16

Add: Other income

40

26

73

83

         Investment income / (loss)

(24)

28

(21)

40

            Including: Income / (loss) from investments in associates and joint ventures

(10)

(2)

(21)

(7)

         Gain / (loss) on changes in fair value of financial assets/liabilities 

37

(17)

46

(14)

         Credit impairment (loss is expressed by “-“)

(6)

2

(1)

(5)

         Asset impairment (loss is expressed by “-“)

(5)

(65)

0

(64)

         Gain / (loss) on disposal of assets 

13

9

16

23

Operating profit / (loss)

403

713

547

1,664

Add: Non-operating income

2

1

3

6

Less: Non-operating expenses

0

1

4

1

Profit / (loss) before income taxes

405

713

546

1,669

Less: Income tax expenses

19

31

50

126

Net profit / (loss) 

386

682

496

1,543

Classified by continuity of operations

  Profit / (loss) from continuing operations

386

682

496

1,543

Classified by ownership

  Net profit / (loss) attributable to owners of the parent

386

682

496

1,543

  Net profit / (loss) attributable to minority shareholders

0

0

0

0

Add: Unappropriated profit at beginning of period

7,264

5,196

7,154

4,335

Less: Cash dividends declared

358

356

358

356

Unappropriated profit at end of period (attributable to owners of the parent)

7,292

5,522

7,292

5,522

Other comprehensive income, net of tax

481

419

350

386

Comprehensive income attributable to owners of the parent

481

419

350

386

Comprehensive income not be reclassified to profit or loss

6

0

17

0

  Remeasurement gains or losses of a defined benefit plan

0

0

1

0

  Change in the fair value of other equity investments

6

0

16

0

Comprehensive income to be reclassified to profit or loss

475

419

333

386

  Comprehensive income using the equity method that may be reclassified to profit or loss

0

(7)

0

(7)

  Cash flow hedge reserve

0

(13)

0

(18)

  Exchange differences of foreign currency financial statements

475

439

333

411

Total comprehensive income

867

1,101

846

1,929

  Including:

     Total comprehensive income attributable to owners of the parent

867

1,101

846

1,929

     Total comprehensive income attributable to minority shareholders

0

0

0

0

Earnings per share

  Basic earnings per share

0.22

0.39

0.28

0.87

  Diluted earnings per share

0.22

0.39

0.28

0.87

CONSOLIDATED CASH FLOW STATEMENT (Unaudited)

RMB in millions

Three months ended

Six months ended

Jun 30, 2023

Jun 30, 2022

Jun 30, 2023

Jun 30, 2022

CASH FLOWS FROM OPERATING ACTIVITIES

  Cash receipts from the sale of goods and the rendering of services

6,178

8,184

13,162

16,999

  Receipts of taxes and surcharges refunds

122

32

216

147

  Other cash receipts relating to operating activities

110

62

163

132

Total cash inflows from operating activities

6,410

8,278

13,541

17,278

  Cash payments for goods and services

4,069

5,766

8,454

11,612

  Cash payments to and on behalf of employees

878

1,060

2,072

2,309

  Payments of all types of taxes and surcharges

254

314

466

501

  Other cash payments relating to operating activities

22

93

128

171

Total cash outflows from operating activities

5,223

7,233

11,120

14,593

Net cash flows from operating activities

1,187

1,045

2,421

2,685

CASH FLOWS FROM INVESTING ACTIVITIES

  Cash receipts from returns of investments

4,350

4,160

8,280

5,160

  Cash receipts from investment income

38

32

52

38

  Net cash receipts from disposal of fixed assets, intangible assets and other long-term assets

7

8

32

34

  Net cash receipts from disposal of subsidiaries and other business units

0

(1)

0

27

Total cash inflows from investing activities

4,395

4,199

8,364

5,259

  Cash payments to acquire fixed assets, intangible assets and other long-term assets

749

651

1,588

1,550

  Cash payments for investments

3,200

4,310

5,980

5,960

Total cash outflows from investing activities

3,949

4,961

7,568

7,510

Net cash flows from investing activities

446

(762)

796

(2,251)

CASH FLOWS FROM FINANCING ACTIVITIES

  Cash proceeds from investments by others

230

0

230

0

      Including: Cash receipts from capital contributions from minority shareholders of subsidiaries

86

0

86

0

  Cash receipts from borrowings

1,317

985

1,664

1,515

Total cash inflows from financing activities

1,547

985

1,894

1,515

  Cash repayments for debts

755

988

1,740

1,734

  Cash payments for distribution of dividends or profit and interest expenses

414

49

467

90

  Other cash payments relating to financing activities

16

446

48

589

Total cash outflows from financing activities

1,185

1,483

2,255

2,413

Net cash flows from financing activities

362

(498)

(361)

(898)

EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS

45

59

37

57

NET INCREASE IN CASH AND CASH EQUIVALENTS

2,040

(156)

2,893

(407)

Add: Cash and cash equivalents at beginning of period

3,306

2,512

2,453

2,763

CASH AND CASH EQUIVALENTS AT END OF PERIOD

5,346

2,356

5,346

2,356

Antelope Enterprise Pre-Announces 1H 2023 Revenue of $42.8 Million, a Projected 168% Year-Over-Year Increase

AEHL On Track to Surpass Full-Year Revenue Guidance & Achieve Profitability

CHENGDU, China, Aug. 25, 2023 /PRNewswire/ — Antelope Enterprise Holdings Limited (NASDAQ Capital Market: AEHL) (“Antelope Enterprise”, “AEHL” or the “Company”), the operator of KylinCloud, a premier livestreaming e-commerce platform that leverages a network of over 400,000 hosts and influencers across China, today pre-announced its revenue for the first six months of its fiscal year ended June 30, 2023. The Company estimates that it will achieve approximately $42.0 million in revenue for the first half of 2023; this represents growth of 167.5% compared to $15.7 million in revenue that it recorded for the same period of 2022.

Antelope Enterprise’s projected first half revenue represents 65.6% of the Company’s full-year guidance of $64 million issued on May 25, 2023. Given the Company’s expected strong performance in the first half of the year, Antelope Enterprise believes that it will exceed its full year revenue guidance.

In addition, Antelope Enterprise affirms its forecast to achieve profitability for the full fiscal year 2023. The Company’s believes that its strong financial growth highlights the power of its innovative business model that optimizes the use of social media and livestreaming to uniquely engage China’s vast online consumer marketplace.

Antelope Enterprise CEO Will Zhang commented, “Our first half 2023 financial results clearly validates the strength of our business model and the value that we provide to both our consumer brand partners and influencers. The projected 168% revenue growth over the first half of fiscal 2022 serves as a powerful indicator of the effectiveness of our livestreaming ecommerce platform, KylinCloud, in this rapidly growing market.”

CEO Will Zhang continued, “We not only facilitate meaningful connections between consumer brands and influencers, but also enhance profitability for our partners and provide immense value to our consumers. Given our expected impressive performance in the first half of the year, we are confident that we will not only meet but exceed our annual revenue guidance while achieving profitability for the full year 2023.”

About Antelope Enterprise Holdings Limited

Antelope Enterprise Holdings Limited holds a 51% ownership position in Hainan Kylin Cloud Services Technology Co., Ltd (“KylinCloud”), which operates a livestreaming ecommerce platform in China with access 400,000+ hosts and influencers.

For more information, please visit our website at http://www.aehl-kylin.com/, or follow the Company on Twitter at https://twitter.com/aehl_ltd. To receive the Company’s public announcements, please email investor@aehltd.com.

Safe Harbor Statement

Certain of the statements made in this press release are “forward-looking statements” within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this press release include, without limitation, the continued stable macroeconomic environment in the PRC, the PRC technology sectors continuing to exhibit sound long-term fundamentals, and our ability to continue to grow our business management, information system consulting, and livestreaming ecommerce business. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as “may,” “will,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “point to,” “project,” “could,” “intend,” “target” and other similar words and expressions of the future.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2022 and otherwise in our SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC’s Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.

Source: Antelope Enterprise Holdings Ltd.