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PR Newswire

Weibo to Hold Annual General Meeting on May 24, 2023

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BEIJING, April 3, 2023 /PRNewswire/ — Weibo Corporation (the “Weibo” or “Company”) (Nasdaq: WB and HKEX: 9898), China’s leading social media platform, today published a notice to announce that it will hold an annual general meeting (the “AGM”) of shareholders (the “Notice of AGM”) at 5809-5810, Two International Finance Centre, 8th Finance Street, Central, Hong Kong on Wednesday, May 24, 2023 at 2:00 p.m. (Hong Kong time), for the purposes of considering and, if thought fit, passing the Proposed Resolutions set forth in the Notice of AGM. The Notice of AGM and proxy card for the AGM are available on the Company’s website at ir.weibo.com. The board of directors of Weibo fully supports the proposed resolutions listed in the Notice of AGM and recommends that shareholders and holders of ADSs vote in favor of the resolutions set out in the Notice of AGM.

Holders of record of ordinary shares of the Company at the close of business on April 21, 2023, Hong Kong time, are entitled to attend and vote at the AGM and any adjourned meeting thereof. Holders of record of American Depositary Shares (the “ADSs”) as of the close of business on April 21, 2023, New York time, who wish to exercise their voting rights for the underlying Class A Ordinary Shares must give voting instructions to JPMorgan Chase Bank, N.A., the depositary of the ADSs.

Weibo’s Form 20-F can be accessed on the Company’s website at ir.weibo.com, as well as on the SEC’s website at http://www.sec.gov.

About Weibo

Weibo is a leading social media for people to create, share and discover content online. Weibo combines the means of public self-expression in real time with a powerful platform for social interaction, content aggregation and content distribution. Any user can create and post a feed and attach multi-media and long-form content. User relationships on Weibo may be asymmetric; any user can follow any other user and add comments to a feed while reposting. This simple, asymmetric and distributed nature of Weibo allows an original feed to become a live viral conversation stream.

Weibo enables its advertising and marketing customers to promote their brands, products and services to users. Weibo offers a wide range of advertising and marketing solutions to companies of all sizes. The Company generates a substantial majority of its revenues from the sale of advertising and marketing services, including the sale of social display advertisement and promoted marketing offerings. Designed with a “mobile first” philosophy, Weibo displays content in a simple information feed format and offers native advertisement that conform to the information feed on our platform. To support the mobile format, we have developed and continuously refining our social interest graph recommendation engine, which enables our customers to perform people marketing and target audiences based on user demographics, social relationships, interests and behaviors, to achieve greater relevance, engagement and marketing effectiveness.

Safe Harbor Statement

This press release contains forward-looking statements. Weibo may also make forward-looking statements in the Company’s periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in announcements, circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), 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 statements about the Company’s beliefs and expectations, are forward-looking statements. These forward-looking statements can be identified by terminology, such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “confidence,” “estimates” and similar statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Further information regarding these and other risks is included in Weibo’s annual report on Form 20-Fs and other filings with the SEC and the Hong Kong Stock Exchange. All information provided in this press release is current as of the date hereof, and Weibo assumes no obligation to update such information, except as required under applicable law.

CONTACTS:
Investors Relations,
Weibo Corporation,
Tel: +86-10-5898-3336,
Email: ir@staff.weibo.com

PR Newswire

8×8 Named the Best Performing Vendor 2022 by DANA Indonesia

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CAMPBELL, Calif., April 3, 2023 /PRNewswire/ — 8×8, Inc. (NASDAQ: EGHT), a leading integrated cloud communications platform provider, today announced that DANA Indonesia, one of Indonesia’s biggest digital wallet providers with over 115 million users, has named 8×8 the Best Performing Vendor 2022. The award recognizes 8×8 as a trusted and reliable communications partner focused on prioritizing exceptional customer service experiences to its customers. DANA Indonesia leverages 8×8 SMS APIs to send one time passwords and notifications, effectively securing all transactions and reinforcing customer trust.

“We are obsessed with helping organizations ensure that their customers always experience top notch service and we are doing everything we can to meet their customer engagement needs,” said Sylvain Chaperon, Global Head of Operations and Support, CPaaS at 8×8, Inc. “We are proud to be named the Best Performing Vendor of 2022 by DANA Indonesia because it underscores this commitment to our customers to maximize business outcomes.”

8×8 CPaaS includes the 8×8 Connect Automation Builder no-code multiple-channel communications management solution, and a portfolio of communication APIs, including SMS, voice, chat apps, video, and performance monitoring. 8×8’s portfolio of communication APIs, are part of the 8×8 XCaaS™ (eXperience Communications as a Service™) cloud contact center, business phone, video meetings, team chat, and SMS single-vendor solution.

About 8×8 Inc.
8×8, Inc. (NASDAQ: EGHT) is transforming the future of business communications as a leading Software as a Service provider of 8×8 XCaaS™ (eXperience Communications as a Service™), an integrated contact center, voice communications, video, chat, and API solution built on one global cloud communications platform. 8×8 uniquely eliminates the silos between Unified Communications as a Service (UCaaS) and Contact Center as a Service (CCaaS) to power the communications requirements of all employees globally as they work together to deliver differentiated customer experiences. For additional information, visit www.8×8.com, or follow 8×8 on LinkedIn, Twitter and Facebook.

8×8®, 8×8 XCaaS™, eXperience Communications as a Service™, eXperience Communications Platform™ are trademarks of 8×8, Inc.

Source: 8×8, Inc.

PR Newswire

The INX Digital Company Reports Q4 2022 Update and Annual Financial Results

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TORONTO, April 1, 2023 /PRNewswire/ — The INX Digital Company, Inc. (NEO: INXD, OTCQB: INXDF, INXATS: INX) (the “Company” or “INX”), the owner of INX.One, security token and digital asset trading platform, a U.S. broker-dealer and an inter-dealer broker (through its subsidiaries), announced annual financial results as of December 31, 2022.

Investment gains/losses for any particular period are not indicative of quarterly business performance. Earnings of The INX Digital Company, Inc. for the third quarter of 2022 are summarized below.

2022 Annual Financial Highlights:

  • Cash and cash equivalents of $20M plus an additional $9.7M invested in short and mid-term duration U.S. treasury securities and investment-grade corporate bonds.
  • Working capital of $26M.
  • Reserve Fund set aside for the protection of customer funds and maintained in addition to operating funds at $36.0M.
  • 2022 revenue at $4.3M year, primarily from transaction fees, an increase in total revenue of 77 percent compared to 2021.
  • 2022 net loss from operations of $16M.

INX reports an annual net income of $208M ($1.02 EPS), which includes an unrealized gain on the INX Tokens issued of $226M and INX Token warrants of $8.3M. Under relevant accounting standards, INX Token and token warrants issued are recognized as a liability on the company’s balance sheet. The company’s adjusted net loss for 2022, excluding INX Token and token warrant liability, is $26M. The adjusted net loss is a non-IFRS measure.

Noteworthy steps and milestones in 2022 are expected to lead the company forward

During 2022, the company has taken significant actions to put in place innovative technology that allow the pioneering of a new and responsible digital economy. Management focused on forging new and strategic global partnerships and advancing multiple initiatives to expand the company’s services, promote brand recognition and drive future revenues.

The company reached a major milestone when it launched INX.One, the world’s first fully regulated platform integrating cryptocurrency and SEC-registered security token trading, investment opportunities in primary security token offerings, and related capital raise services under a single platform available 24/7 to retail and institutional investors in the U.S. and globally. INX.One is integrated with multiple public blockchains through INX proprietary technology and is intended to be blockchain agnostic.

INX’s main focus remains on creating a go-to holistic solution for founders and corporate partners to raise capital utilizing SEC-regulated security tokens.

Taking advantage of the path created by the issuance of the INX Token, since the third quarter of 2022 and to date, INX has launched its capital raise services and brought four (4) primary offerings to market, which are available for investment exclusively on INX.One.

It includes Trucpal, a digital financial and tax software company for logistics-industry-based in China; Advent Entertainment, an entertainment, gaming, and virtual reality company based in Utah, US; Treasure Experience, a virtual marine exploration and treasure hunting company based in Florida, US; and TurnCoin, digital trading cards in talented individuals trading platform company, based in Gibraltar.  After the completion of the primary raises, security tokens in these entities and projects will be listed on INX.One for trading in the secondary market. 

In addition, during 2022, the Millennium Sapphire (“MSTO”) Token was also added for secondary market trading on INX.One. Token holders are entitled to receive dividends from Millennium’s NFT Studio.

Within the cryptocurrency offering, the company offers select digital assets and stablecoins for trading, investing, and funding of accounts. Moreover, the company continues to expand its money transmitter licenses and registrations, allowing the company to offer cryptocurrencies in 43 U.S. states and territories. INX.One also continues to expand its offering to over 160 countries globally.

The company continues to lead in providing solid, sustainable solutions for the future, a critical, much-required effort in today’s climate.

In December 2022, the company announced a strategic partnership with SICPA, a global leader in authentication, revenue realization, and secure traceability solutions, to help governments develop innovative and sovereign central bank digital currency ecosystems. The joint venture, incorporated in Switzerland, combines both blockchain-based infrastructure and digital cash technologies to address the key requirements for Central Bank Digital Currencies, including privacy, security, financial inclusion, resilience, and more – paving the way for the development and launch of a secure and scalable environment for all central banks to deploy digital currencies.

As INX predicted, security tokens are beginning to transform the ownership and trading of assets. The company is geared to provide a secure alternative in its multiple uses, such as recovery security tokens, digital bonds, and tokenized shares. As the market for security tokens continues to grow and rapidly expand across multiple blockchains, the company put efforts and resources into educating people worldwide to provide the required clarity of the new standard.

To execute the long-term vision, during 2022, the company strengthened its senior global leadership by filling a key role within the company, the Chief Financial Officer, who plays a strategic role in advancing the company’s vision and navigating the current market and regulatory environment. The company also expanded its Board of Directors to include two global financial leaders, who themselves made the transition from the traditional to the digital economy and will therefore guide and assist in promoting INX’s mission.

INX CEO Shy Datika: We invest in a solid and secure democratization of finance.
Five years ago, we chose what we knew was right for our future customers—the path that would keep them safe while providing them with a wealth of opportunities.
We knew it would be a bumpy ride and came prepared to realize our forward-looking vision.
The INX way, yet again, proved to be the right one. As industry giants are challenged by regulators, we have armed ourselves with regulations. As investors become more aware and more concerned with the pitfalls of unregulated trading platforms, we can provide a secure and safe harbor. INX puts customers first! We have a fully audited and segregated cash reserve fund as described in our INX Token F-1 prospectus. We maintain 1:1 balances for customers and do not use customer assets. We do not, in any way, shape, or form, leverage or re-invest customer assets. On our INX Securities ATS, customers get full transparency as they control their assets, their keys, and their wallets. We will continue developing new services and technologies to further expand opportunities while keeping our clients safe.

About INX:

INX provides a regulated trading platform for digital securities and cryptocurrencies.  With the combination of traditional markets expertise and a disruptive fintech approach, INX provides state-of-the-art solutions to modern financial problems. INX is led by an experienced and dedicated team of business, finance, and technology veterans with the shared vision of redefining the world of capital markets via blockchain technology and innovative regulatory approach.

About The INX Digital Company, Inc. INX is the holding company for the INX Group, which includes regulated trading platforms for digital securities and cryptocurrencies, combining traditional markets expertise and an innovative fintech approach. The INX Group’s vision is to be the preferred global regulated hub for digital assets on the blockchain. The INX Group’s overall mission is to bring communities together and empower them with financial innovation. Our journey started with our initial public token offering of the INX Token, in which we raised US$84 million.
The INX Group is shaping the blockchain asset industry through its willingness to work in a regulated environment with oversight from regulators like the SEC and FINRA.

In addition to operating a regulated trading platform for blockchain assets, INX’s interdealer broker, I.L.S. Brokers, plans to offer non-deliverable cryptocurrency forwards to Tier-1 banks in the future. For more information, please visit the INX Group website here.

Cautionary Note Regarding Forward-Looking Information and Other Disclosures

This press release contains statements that constitute “forward-looking information” (“forward-looking information”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates, and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. In disclosing the forward-looking information contained in this press release, INX has made certain assumptions, including with respect to, the continuous development of the INX trading platform, the offering of non-deliverable cryptocurrency forwards, and the development of the digital asset industry. Although INX believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include but are not limited to regulatory developments, the state of the digital securities and cryptocurrencies markets, and general economic conditions. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, INX disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information, or otherwise.

The NEO Exchange is not responsible for the adequacy or accuracy of this press release.‍

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.‍

For further information, contact:
The INX Digital Company, Inc.
Investor Relations
+1 855 657 2314
Email: investorrelations@inx.co

For more information, contact:
Liz Whelan
liz@lwprconsulting.com
(312) 315-0160

Source: The INX Digital Company, Inc.

PR Newswire

Tensor Tech Disrupting Satellite Minimization by Going Lighter, Smaller, and More Power-Efficient

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NEW TAIPEI CITY, Taiwan, March 31, 2023 /PRNewswire/ — Tensor Tech, a Taiwan-based company specializing in satellite minimization, is pushing to disrupt the booming worldwide space industry with lighter, smaller, and more power-efficient satellite subsystems.

According to a report by the Space Foundation, the annual global spending for the space industry hit $469 billion in 2022. The costs involved represent a prime opportunity for companies like Tensor Tech to step in and assist on a variety of government and commercial space ventures.

“It is important to keep moving in our industry, constantly improving to ensure that we make interplanetary travel a reality. Growth of the space industry is limited mainly by cost, and Tensor Tech is addressing this pain point through disruptive innovation, offering our customers more efficient solutions that incentivize further development of this industry,” said Jordan Hsieh, Chief Business Development Officer at Tensor Tech.

Charting New Courses

Tensor Tech possesses a unique position in which to disrupt the industry standards, with technological innovations enabling attitude determination control systems (ADCS) in satellites to be smaller, lighter, and more power-efficient compared to traditional attitude control systems.

At present, there remain major obstacles for commercial entities looking to enter the growing space industry. The first is the building of launch rockets, while the second pertains to the building of the satellite, both of which brings substantial costs. A possible workaround is that of satellite minimization, but the ADCS is the biggest roadblock among all other subsystems. There is a limit to how much it can be shrunk down without impacting its tangible functions.

However, Tensor Tech has been able to make a breakthrough, reducing the weight, size, and power consumption of the nanosatellite ADCS by 60% compared to conventional solutions. In addition, the company’s technology can enable the space industry with wider commercial applications by allowing satellite missions to carry more payloads and further reducing the costs involved.

This level of innovation extends to the testing equipment that Tensor Tech also develops — namely the ADCS testbed. A cutting-edge solution for testing and calibration, the testbed is fully scalable and can measure the mass properties of a given device, and an upcoming partnership with a European company will bring further enhancements.

Shining Bright

Tensor Tech’s full attitude control solutions are headlined by its integrated attitude determination and control systems. Catering to satellites of various sizes, the product lineup of ADCS-10m, ADCS-MTQ, ADCS-20m and ADCS-40m deliver both affordable prices and user-friendly functionality.

At the core of these systems is the control moment gyroscope (CMG), an integral component that has been further enhanced by Tensor Tech’s technological advancements. The CMG-10m realizes a variable-speed, single-gimbal CMG driven by spherical motor technology. It successfully shrinks the volume and weight of a CMG for nanosatellites.

For those with other needs, the likes of the CMG-20m scissor pair or the CMG-40m pyramid cluster CMG will have plenty of use as well. Furthermore, Tensor Tech provides magnetorquers and sun sensors that can be size-efficient or tweaked to address specific needs.

Tensor Tech has plans to extend their product offering in the future, in particular with specialized CMGs tailored to micro and small satellites. Also, since gimbals are the part that most often requires replacement, the brand is developing gimballess versions of these groundbreaking products to maximize the lifetime of ADCS for space operation.

Spreading the Word

Tensor Tech will be making appearances in several upcoming events, including the Small Satellite Conference 2023 and Space Tech Expo Europe 2023. Interested visitors can learn more by joining the events and hearing from the experts themselves about how the company is disrupting the space industry.

About Tensor Tech
Operating out of Taiwan, Tensor Tech seeks to help humanity expand into the frontier of interplanetary travel by assisting investors, corporations, and governments in this noble pursuit. The company’s innovative approach to downsizing satellite components is advancing space exploration through increasing efficiency and profitability.

PR Newswire

GS1 UK appoints Syndigo to enhance productDNA data management and sharing service

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LONDON, March 31, 2023 /PRNewswire/ — After a thorough evaluation process, GS1 UK has appointed Syndigo to manage productDNA.

Built and governed in collaboration with the UK grocery industry, productDNA was launched by GS1 UK in 2017 to provide a single catalogue of high-quality, independently verified product data underpinned by GS1 standards.

Going forward, Syndigo will manage all sales, support, operation management, and further development of the productDNA platform to enhance its proposition and maximise value to industry.

While close adherence to the GS1 UK data model and core functionality will be perpetuated in productDNA, the platform and the technology that powers it will switch to an improved industry solution delivered by Syndigo. This will ensure the service continues to evolve in-line with industry needs and the ever-growing demand for accurate, standardised, quality product data.

GS1 UK will remain actively involved in maintaining the consistency of data standards, facilitating collaboration between stakeholders, and identifying new opportunities to support greater data sharing.

In the years since launch, productDNA has allowed brands of all sizes, suppliers, and over 70% percent of UK grocery retail sector, including Tesco, Asda, Morrisons, Sainsbury’s, Ocado, Booker, One Stop and Waitrose and Partners, to seamlessly share product information using one common technology platform and language. As well as building trust and transparency, this has enabled users to adapt to new legislation, streamline their operations and build more efficient supply chains.

“We are pleased to welcome Syndigo as the new platform partner for productDNA,” said Anne Godfrey, CEO of GS1 UK. “Many businesses are feeling overwhelmed by the challenges of the last two years so there has never been a greater need for taking a standardised approach to product data. By coming together, industry has made incredible progress in creating, capturing, and sharing accurate data that will enable businesses to respond to changing legislative and consumer demands, both now and in the future.”

“We are incredibly proud of everything productDNA has achieved but recognise that the platform must continually evolve in line with the needs of both the industry and their consumers. The appointment of Syndigo will allow productDNA to do just that and we look forward to seeing the platform develop to provide even greater value to users.

“Together with industry, GS1 UK will continue to guide the future direction and functionality of the service. We remain committed to finding new opportunities for powering progress through collaboration and the sharing of trusted data.”

“Syndigo is honoured to have been chosen to manage the productDNA platform for the future,” said Syndigo GM of Europe Karim Iskandar. “The vast strides that the industry has taken in the UK and globally to align product information for greater efficiency is commendable, and we look forward to delivering a continued high standard for all users in the UK for years to come.”

In a joint statement, Tesco, Asda, Sainsbury’s, Booker, One Stop, and Ocado said, “We are pleased to confirm our continued commitment to the productDNA platform under the new partnership between GS1 UK and Syndigo. We all recognise the business efficiencies which come from having access to a single source of complete, accurate product data as well as having a platform which enables us to work in parallel to meet the evolving range of regulatory and social obligations. Using the unified product data model in productDNA ensures manufacturers and suppliers to the UK grocery industry can all benefit.”

GS1 UK and Syndigo are working together to support users as they migrate, ensuring industry will continue to be powered by data it can trust with as little disruption as possible.

About GS1 UK 

Whether online, in store or in a hospital, the common language of GS1 global standards is helping our community of more than 58,000 organisations across the UK to uniquely identify, describe and track anything, creating greater trust in data for everyone. 

From product barcodes to patient wristbands, GS1 standards have been transforming the way we work and live for nearly 50 years. 

GS1 UK is one of 116 neutral and independent GS1 organisations operating worldwide.
www.gs1uk.org / @gs1uk  

About Syndigo

Syndigo is the first Active Content Engine built to power modern commerce by enabling the continual flow of data and content throughout the entire commerce ecosystem. With industry-leading data management, syndication, and analytics, combined with the largest two-sided network for content distribution, we deliver accurate information that improves decision-making and accelerates sales on every shelf.

Syndigo serves more than 12,000 manufacturers, and 1,750 retailers and distributors globally across key industries including grocery, foodservice, hardlines, home improvement/DIY, pet, health and beauty, automotive, apparel, oil & gas, and healthcare. For more information, visit www.syndigo.com or follow us on LinkedIn.

PR Newswire

Venturi Astrolab’s FLEX rover to launch to the Moon on an upcoming SpaceX mission

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MONACO, March 31, 2023 /PRNewswire/ — In three years’ time, the Monegasque Venturi Group will write the most impressive page in its history: in 2026, the FLEX (Flexible Logistics and Exploration) rover, the result of an international collaboration (see below), will head for the Moon. The American company SpaceX will be responsible for transporting the rover, which will be the largest and most capable in the history of lunar vehicles. SpaceX will use its Starship launch and landing system to transport FLEX to the lunar surface.

HISTORY AND PROGRAMME

It was in 2019, under the impetus of Venturi Group’s President, Gildo Pastor, that the electric lunar rover programme was imagined and then put in place. A Swiss entity, Venturi Lab S.A., was created. At the same time, a strategic partnership was created with an American-owned company based in Los Angeles (Hawthorne), Venturi Astrolab, Inc (Astrolab).

Astrolab and Venturi Lab work with Venturi Group’s historic base in Monaco. Together, the three companies are designing, developing and building the FLEX rover.    

As early as 2026, FLEX – deposited by the Starship launch and landing system on the surface of the moon – will become operational. It will demonstrate its efficiency, viability and capacity to conduct scientific experiments and commercial activities.

STRUCTURE AND EXPERTISE

The collective team includes engineers and scientists from the fields of space mobility, terrestrial and planetary robotics, industry, development, advanced technology research, electromobility, fuel cells and batteries, hydrogen storage, composite materials and processes manufacturing.

Each company provides the following expertise:

  • Venturi Group in Monaco is dedicated to high performance batteries. In this, it is accompanied for the test phases by its US subsidiary, Venturi North America (Ohio, USA). This branch is located at Ohio State University and works closely with its mechanical engineering students.
  • Venturi Lab creates materials resistant to extreme conditions (low temperatures and radiation), high-performance solar panels, deformable wheels and electrical control systems. It also manages relations with ESA.
  • Venturi Astrolab designs the vehicle architecture, its primary structure & mechanisms, develops its software and avionics, assembles it, and conducts validation testing.

The rover’s human factors and aesthetic design have been informed and inspired by designer Sacha Lakic. Lakic has a long history of collaborating on the design of Venturi Group’s innovative vehicles.

Media Contact:

Fabrice Brouwers
fbrouwers@venturi.com

PR Newswire

JS Global Reports Fiscal Year 2022 Financial Results

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HONG KONG,  March 31, 2023 /PRNewswire/ — JS Global Lifestyle Company Limited (Stock code: 1691.HK) (“JS Global” or the “Company”), a world-leading producer of small household appliances that operates three major brands: Shark, Ninja and Joyoung, today reported its financial results for the fiscal year ended December 31, 2022.

“I am pleased with all we accomplished in 2022 while navigating a challenging global macro environment,” said Wang Xuning, Chairman and Chief Executive Officer of JS Global. “We continued to grow market share in both existing and new categories across the key markets in which we operate. Major product launches in 2022 have already seen incredible success, as they were a key factor in driving a strong finish to the year and are now providing us with significant momentum in 2023. JS Global is highly differentiated by the strength of our brands and our high quality, rapid product innovation that consistently delivers extraordinary value to our consumers globally. We look forward to 2023 as we remain focused on our strategy to deliver sustainable, long-term growth by driving increased sales of our existing products as well as combining powerful technology with appealing designs to develop innovative new products.”

Fiscal Year 2022 Financial Results and Commentary

  • Revenue was US$5,041.2 million for the fiscal year, a decrease of 2.1% compared to the prior year period. On a constant currency basis, revenue increased by 0.7%.
    • SharkNinja’s revenue was US$3,715.9 million for the fiscal year, flat compared to the prior year period. On a constant currency basis, revenue increased by 2.4%.
    • Joyoung’s revenue was US$1,325.3 million for the fiscal year, a decrease of 7.7% versus the prior year period. On a constant currency basis, revenue decreased by 3.7%.
  • Profit was US$357.5 million for the fiscal year, a decrease of 22.4% versus the prior year period.
  • Adjusted Net Profit was US$425.6 million for the fiscal year, a decrease of 15.3% versus the prior year period.
  • Profit Attributed to Owners of the Parent was US$332.3 million for the fiscal year, a decrease of 21.0% versus the prior year period.
  • Adjusted Net Profit Attributed to Owners of the Parent was US$393.8 million for the fiscal year, a decrease of 15.1% versus the prior year period.
  • EBITDA was US$624.5 million for the fiscal year, a decrease of 12.2% versus the prior year period.
  • Adjusted EBITDA was US$673.0 million for the fiscal year, a decrease of 8.2% versus the prior year period.

 Recent Business Highlights

  • JS Global’s revenue has grown by 67.1 % compared to 2019 led by the continued success and expansion of the Shark and Ninja brands, as well as gross profit growth of 66.9% compared to 2019.
  • Shark brand remains the vacuum brand in the U.S., while Ninja brand continues to be the brand in small kitchen appliances in the U.S. Our market share within cleaning appliances grew from 32.0% to 34.6%1, cooking appliances declined from 27.4% to 26.2%2, and food preparation appliances grew from 33.4% to 36.1%3 in the U.S.

Balance Sheet and Cash Flow Highlights

  • As of December 31, 2022, cash and cash equivalents were US$504.1 million, outstanding debt (total borrowings) was US$857.1 million, and gearing ratio (calculated as the total debt (including interest- bearing bank borrowings and lease liabilities) divided by total equity) was 45.6%.
  • Capital expenditures were US$165.3 million for the fiscal year, compared to US$ 149.6 million in the prior year period.
  • JS Global had 3,447,463,000 fully diluted shares outstanding as of December 31, 2022.

Conference Call and Live Streaming Details

  • April 3, 2023 at 7:30 a.m. ET / April 3, 2023 at 7:30 p.m. HKT: JS Global management will host an annual results presentation live stream. Investors can watch the live stream by registering on the following website: https://www.jsgl.com/en/investor/register.html. After registration, investors will receive the link to watch live stream via the registered email.
  • Annual results announcement: https://www.jsgl.com/en/investor/notice.html
  • The presentation and the Q&A section will be in both English and Mandarin and will also be archived and available for replay.
  • You can ask questions in the “question area” of the page or by dialing in using the information below.

Investors can also dial-in to listen the audio of the live stream and to ask questions:

  • United States dial-in: 1-516-226 8028/1800 3876 988
  • Mainland China dial-in: 4008070263/ 023-62737100
  • Hong Kong dial-in: 852-3018 3602/800 931018
  • Singapore dial-in: 65-6407 5649/65-6622 0840
  • United Kingdom dial-in: 44-20-3761 0113/0800 0291098
  • English Passcode: 898958701#
  • Mandarin Passcode: 032514758#

After joining the conference call, participants can press *1 to raise hand to ask a question. Both English and Mandarin questions will be accepted.

Source:

1. The NPD Group/Retail Tracking Service, U.S. dollar sales, January-December 2022 vs. January–December 2021. “Cleaning appliances” include Bare Floor Cleaners, Upright Vacuums, Stick Vacuums, Robotic Vacuums, and Hand Vacuums

2. The NPD Group/Retail Tracking Service, U.S. dollar sales, January-December 2022 vs. January–December 2021. “Cooking appliances” include Air Fryers, Fryers, Electric Grills, Other Electric Grills/Griddles, Multi-Cookers, and Toaster Ovens

3. The NPD Group/Retail Tracking Service, U.S. dollar sales, January-December 2022 vs. January–December 2021. “Food preparation appliances” include Juice Extractors, Traditional Blending, Kitchen System, Single Serve Blending & Processing, and Traditional Food Processors

4. Global Small Home Appliance Industry Independent Market Research, Frost & Sullivan, March 2023

About JS Global

JS Global Lifestyle Company Limited (Stock code: 1691.HK) is a world-leading producer of small household appliances. It ranks fifth globally in the small home appliance industry and third among small home appliance-focused companies.4 It primarily operates three major brands: Shark, Ninja and Joyoung. The Company’s success is centered around its deep understanding of consumer needs, and is built on its strong product innovation and design capability powered by a global research and development platform, marketing strengths driving high brand engagement, and an omni-channel distribution coverage with high penetration.

About SharkNinja

SharkNinja is an innovation leader in the housewares industry and creator of the familiar household brands Shark® and Ninja®. SharkNinja provides the latest in easy-to-use innovative technology with a growing line of solutions that consist of Shark cleaning and home care products and Ninja kitchen appliances. Products are sold at major retailers and through distributors around the world. Ninja and Shark are registered trademarks of SharkNinja Operating LLC. SharkNinja is a subsidiary of JS Global Lifestyle Company Limited (Stock code: 1691.HK), a leader in small household appliance innovation.

About Joyoung

Joyoung (Stock code: 002242.SZ) is SharkNinja’s sister brand and has become a well-known small household electrical appliance enterprise and one of the market share leaders in China. Joyoung invented the first soymilk maker in China and closely connect the concept to plant-based solutions. With 28 years of experience and over 10,000 patented technologies, Joyoung specializes in the research and development, design, manufacturing, and sale of its innovative product categories including small household appliances, primarily focusing on kitchen appliances. Joyoung is a subsidiary of JS Global Lifestyle Company Limited (Stock code: 1691.HK), a leader in small household appliance innovation.

Media
Edmond Lococo, Managing Director, ICR Inc.
JSGlobalPR@icrinc.com

Company Contacts
Mars Chen, Investor Relations Manager, JS Global Lifestyle
mars.chen@jsgl.com

Arvind Bhatia, VP of Investor Relations at SharkNinja
ABhatia@sharkninja.com

Investor Relations
ir@jsgl.com

PR Newswire

Protecting migratory birds and their precious wetland habitat with AIoT technology

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A dedicated team of conservation specialists works unceasingly to protect migratory birds at Beibayao Wetland of the Dongtan Reserve in Shanghai, China. To help them monitor the site and bird populations more effectively, Hikvision provided advanced video perception equipment.

HANGZHOU, China, March 31, 2023 /PRNewswire/ — The Dongtan Reserve in Shanghai, located at the mouth of the Yangtze River, provides food, shelter, and breeding grounds for nearly one million migratory birds each year.

Protecting migratory birds and their precious wetland habitat with AIoT technology
Protecting migratory birds and their precious wetland habitat with AIoT technology

To ensure that Beibayao Wetland continues to meet the needs of its feathered visitors, a team of rangers, engineers and other specialists continually monitor the site and the bird populations. In recent years, Hikvision also joined hands with the One Planet Foundation to protect the birds in Beibayao Wetland, which is a work area of World Wide Fund for Nature (WWF). Now Hikvision’s video perception devices have been installed here, assisting the team in bird watching and providing a scientific basis for ecological protection.

Among this dedicated team at the Reserve is Liu Jieyun, a WWF project specialist. According to Jieyun, managing the site and optimizing the habitat for the birds is a unique and complex task.

It is critical to check, for example, that the water level at the site, the available exposed land, the vegetation, and other environmental factors, are conducive to the wellbeing of the visiting migratory birds. What’s more, Jieyun constantly monitors the behavior of the birds, counting the number of species present to understand and report on trends in their populations and diversity.

Jieyun says, “The ultimate goal is to manage this wetland as well as possible and to ensure that it continues to function as a place where birds can stop, rest, spend the winter, and breed. However, constantly monitoring the reserve, and getting a close-up view of their behaviors – including their reproductive cycle – can be very difficult.”

Adding video perception to the conservation toolkit

To support this valuable work, Hikvision has contributed video perception equipment at the Dongtan Reserve. This helps Jieyun and other team members keep a constant eye on multiple areas of the site to ensure that the breeding grounds are in good condition and able to support the visiting populations.

PTZ (pan tilt zoom) cameras are being used to capture close-up images of birds and their behavior to support and enhance conservation efforts. At night or in low-light conditions, thermal dome cameras play a critical role in the continuous monitoring.

Jieyun and the conservation team have captured incredible images of birds at the reserve, underlining the value of the site for multiple species. For example, the team has seen Kentish plovers wet their abdomens with muddy water to cool down hatchlings in their nests, and recorded images of birds fishing to feed their young.

Hikvision’s intelligent analysis equipment has been deployed at the reserve, and it will develop an intelligent bird identification system based on joint efforts with the partners. Advanced applications such as identification, classification, and analysis will be enabled by intelligent platform software, transforming approaches to bird monitoring and protection. For example, it can be used to help researchers establish correlations between a variety of environmental factors and bird habits, supporting experts and staff to further improve protection measures and plans.

Protecting migratory birds and their precious wetland habitat with AIoT technology
Protecting migratory birds and their precious wetland habitat with AIoT technology

Measuring conservation success at Dongtan Reserve

The conversation team works tirelessly to ensure that the Dongtan Reserve meets the needs of visiting bird populations, and the video perception equipment has become part of the conservation toolkit. Thanks to the hard work of Jieyun and other specialists, the number of bird species recorded in Beibayao Wetland has increased from 150 to more than 200.

Among the general bird population, there are some “star” species, including the spoon-billed sandpiper, a species with fewer than 500 individuals remaining in the world. The staff at the reserve have also seen laughing gulls, curly-feathered pelicans, Chinese crested terns, and other rare birds.

“Bird monitoring is an essential part of Dongtan Reserve’s habitat management,” Jieyun continued. “The dedicated on-site team records bird species, numbers, breeding conditions and a range of other data that reflect the status of the wetland and the effectiveness of our management efforts. The video perception devices enable the staff to better manage the wetland and to ensure that migratory birds enjoy a good living environment and have enough food to thrive.”

As part of Hikvision’s Global STAR Program for Social Good, the Dongtan Reserve project is bringing a brighter future for the birds and the wetland ecosystem. With the power of technology, Hikvision will continue to explore innovative ways to benefit communities and protect our valuable nature and culture. If you want to join us and create a better world together, please click here.

PR Newswire

Vipshop Announces US$500 Million Share Repurchase Program

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GUANGZHOU, China, March 31, 2023 /PRNewswire/ — Vipshop Holdings Limited (NYSE: VIPS), a leading online discount retailer for brands in China (“Vipshop” or the “Company”), today announced that its board of directors has authorized a new share repurchase program under which the Company may repurchase up to US$500 million of its American depositary shares or Class A ordinary shares until the close of business on March 31, 2025, U.S. Eastern Time. The Company plans to adopt and implement this share repurchase program in accordance with applicable rules and requirements under the Securities Exchange Act of 1934, as amended, and the Company’s insider trading policy.

The Company’s proposed repurchases may be made from time to time in the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. The timing and dollar amount of repurchase transactions will be subject to the Securities and Exchange Commission Rule 10b-18 and/or Rule 10b5-1 requirements. The Company’s board of directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size. The Company expects to fund the repurchases out of its existing cash balance.

About Vipshop Holdings Limited

Vipshop Holdings Limited is a leading online discount retailer for brands in China. Vipshop offers high quality and popular branded products to consumers throughout China at a significant discount to retail prices. Since it was founded in August 2008, the Company has rapidly built a sizeable and growing base of customers and brand partners. For more information, please visit https://ir.vip.com/.

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,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the business outlook and quotations from management as well as Vipshop’s strategic and operational plans contain forward-looking statements. Vipshop 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 annual report 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 statements about Vipshop’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: Vipshop’s goals and strategies; Vipshop’s future business development, results of operations and financial condition; the expected growth of the online discount retail market in China; Vipshop’s ability to attract customers and brand partners and further enhance its brand recognition; Vipshop’s expectations regarding needs for and market acceptance of flash sales products and services; competition in the discount retail industry; the potential impact of the COVID-19 to Vipshop’s business operations and the economy in China and elsewhere generally; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Vipshop’s filings with the SEC. All information provided in this press release is as of the date of this press release, and Vipshop does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Investor Relations Contact

Tel: +86 (20) 2233-0732
Email: IR@vipshop.com

PR Newswire

Infinix Launches HOT 30 Series in Collaboration with Free Fire to Showcase an Enhanced Gaming Experience

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SHANGHAI, March 31, 2023 /PRNewswire/ — Infinix today launches the HOT 30 series worldwide, consisting of the HOT 30 and HOT 30i models. The series has undergone significant upgrades to its processor, screen, fast charging, and video features. In collaboration with Free Fire, one of the most downloaded mobile games worldwide, Infinix has customized the series for an immersive gaming experience, enhancing both software and hardware dimensions.

In Collaboration with Free Fire
In Collaboration with Free Fire

The partnership between Infinix and Free Fire further enhances gaming entertainment through joint tuning and delivers a thrilling and competitive gaming experience to a young and fashionable audience. To promote the spirit of “BOOYAH NOW”, both parties will hold several activities, including a TikTok challenge that will encourage users to share their in-game highlights and stimulate creativity.­

“Infinix understands the needs of the younger generation and prioritizes the combination of product performance with in-depth game entertainment in its HOT series, which resonates with young consumers globally. This aligns well with Free Fire’s global pool of players. The partnership between Infinix and Free Fire goes beyond product innovation to cultivate an entertainment lifestyle for young people. Together, they aim to establish deeper connections with young people worldwide through innovative products and creative co-branding activities, encouraging them to ‘play together’ and experience the joy of competition brought by the new HOT 30 series.” – Eric Zheng, HOT Series Product Director at Infinix.

Taking Mobile Gaming to the Next Level

The HOT 30 is designed to provide an immersive gaming experience, powered by the MediaTek Helio G88 eight-core processor. With two strong ARM Cortex A75 cores and a maximum frequency of 2.0GHz, it ensures smooth gameplay. In addition, Infinix’s self-developed memory expansion technology can double memory efficiency from 8GB to 16GB, enabling quick game startup and multitasking. The 6.78-inch screen boasts a 90Hz refresh rate, 270Hz touch sampling rate, and DRE dark area enhancement technology. It also has a maximum brightness of 600nit, allowing users to play in outdoor sunlight with a clear view of the screen.

Infinix’s collaboration with Free Fire showcases the enhanced technology of the HOT 30, which adds intelligent sensing load scenarios and phased matching cooling strategies to stabilize the game under high image quality and high frame rate conditions. The Co-branded HOT 30 has also undergone exclusive customization, including wallpapers, icon widgets and sound effects to enhance user experience. Additionally, the phone features a unique AR self-portrait playing method using the rear and front camera, allowing users to create interesting self-portraits with Free Fire game characters for more fun.

HOT 30 Customized Gift Box
HOT 30 Customized Gift Box

Infinix and Free Fire’s partnership goes beyond the phone’s system, extending to unique customized packages that offer additional benefits to gamers, such as customized phone cases, card pins, hats, and stickers. The HOT 30 features a thin and light design with a glass-like texture which is smooth to the touch. It also has 33W super fast charging and a 5000mAh battery for long battery life, a 50-megapixel camera with enhanced night scene effect, and DTS dual speakers for surround dynamic sound.

The Infinix X Free Fire Creative Activities

Free Fire is a highly popular tactical and competitive mobile battle royale game that has been in operation since 2017. The title continues to be one of the top ranking games globally. The partnership between Infinix and Free Fire marks a new stage of development, with plans for joint marketing activities, including a TikTok Challenge where players can upload their game highlights and stand to win mobile phone prizes. Infinix and Free Fire will also hold a Co-Lab theme collection activity, inviting users to create wallpapers for the HOT 30. More details on activities will be shared on the official Infinix social media channels.

The HOT 30 series falls within a very competitive price range that allows young people around the world to experience a high-quality and inexpensive gaming phone. It delivers a bright high-definition game screen and fast charging, making it a great option for mobile gamers.

Availability

More details on availability and pricing will be shared on Infinix regional websites and social media channels.
For more details visit: http://www.infinixmobility.com/

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/

About Garena:

Garena is a leading global online games developer and publisher. Free Fire, its self-developed mobile battle royale title, was the most downloaded mobile game in the world in 2019, 2020, and 2021, according to data.ai, previously known as App Annie. 
Garena is run by passionate gamers and has a unique understanding of what gamers want. It exclusively licenses and publishes hit titles from global partners – such as Arena of Valor and Call of Duty: Mobile – in selected markets globally. Garena champions social and entertainment experiences through games, enabling its communities to engage and interact. Garena is also a leading esports organiser and hosts some of the world’s biggest esports events.
Garena is a part of Sea Limited (NYSE:SE), a leading global consumer internet company. In addition to Garena, Sea’s other core businesses include its e-commerce arm, Shopee, and digital financial services arm, SeaMoney. Sea’s mission is to better the lives of consumers and small businesses with technology.