Tag Archives: ENT

CGTN: China to prioritize conservation in its water diversion project

BEIJING, May 15, 2021China will press ahead with the world’s largest water diversion project and prioritize water conservation in the process.

 

As the country pursues green and high-quality development, efforts should be made to advance the South-to-North Water Diversion Project in a scientific manner and promote the effective and economical use of water resources, Chinese President Xi Jinping said Friday.

Xi made the remarks at a symposium on advancing the high-quality follow-up development of the project in Nanyang, central China’s Henan Province, following an inspection tour that began on Wednesday.

He called for safeguarding ecological security and promoting balanced spatial distribution of water resources in the country.

3,000 West Lakes, 120 million people

The South-to-North Water Diversion Project links the Yangtze River, the Huaihe River, the Yellow River and the Haihe River. It is aimed at providing a permanent solution to the water shortage in northern China by diverting water from the country’s water-rich southern regions.

The grand project consists of three routes, among which the first phase the eastern and middle routes went into operation in 2013 and 2014 respectively. The western route is still at a pre-construction stage.

As of early April, the project had transferred 41.8 billion cubic meters of water to the northern areas, which was equivalent to the water volume of nearly 3,000 West Lakes – a renowned scenic area in Hangzhou in east China’s Zhejiang Province. More than 120 million people had directly benefited from the project.

Xi’s inspection tour and the symposium came at a time when China gears up for planning and implementing the next stage of the project. According to the Outline of the 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035, efforts will be made to advance the follow-up development of the eastern and middle routes of the project and the appraisal of plans for the western route.

Elaborating on how to advance the project in a scientific manner, Xi called for efforts to strengthen demand and supply management, maximize overall benefits of the project, prioritize water conservation and enhance the protection of ecological environment. He also called for accelerating efforts to build a national water network and ensure national water security.

Xi hails sacrifice by resettled residents

The place where President Xi chose to convene the meeting is of great significance to the water diversion project. Located in the southwest of Henan Province bordering Hubei Province, Nanyang is the starting point of the middle route, which carries water from Danjiangkou Reservoir in central China through Henan and Hebei provinces all the way to Beijing and Tianjin in the north.

More than 40 big and medium-sized cities receive water from the project, and in Beijing, around 70 percent of the tap water is pumped in through the middle route.

More than 345,000 people living in Danjiangkou Reservoir area have moved to more than 600 government-built villages to make way for the project. Xi went to one of those villages to visit the relocated residents on Thursday.

In the village of Zouzhuang in Xichuan County, he hailed the spirit of sacrifice of the villagers and wished them a better life. The resettled residents deserve the thanks from those who benefit from the project and people across the nation, he said.

At Friday’s symposium, Xi urged authorities to work out economical plans for the next phase of the project and minimize the number of people that need to be relocated.

https://news.cgtn.com/news/2021-05-14/Xi-convenes-symposium-on-advancing-water-diversion-project-development-10g4Sd3Te5W/index.html

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CooTek’s Catwalk Beauty Ranked #1 on the US iOS Games Chart on May 13

SHANGHAI, May 14, 2021 — Catwalk Beauty, an ultra-casual game designed and released in the global market by CooTek (Cayman) Inc. (NYSE: CTK) ("CooTek" or the "Company"), reached in the US iOS Games section during the day of May 13, only three weeks after its debut.  

The success of Catwalk Beauty in the US market stemmed from the Company’s R&D capability in gaming and experience in localized operations in the global market. The Company drove the whole process of the incubation of Catwalk Beauty, from the creation to the development and its final debut. In addition to the creative gameplay, localized UI design is the crucial factor to the game’s outstanding performance. CooTek has brought an enhanced entertainment experience to its users through expertise in game innovation and development. 

Catwalk Beauty has attracted a group of loyal fans internationally. The popularity signifies that casual games developed by Cootek are gaining more market share in the global market. Looking forward, through a holistic incubation mechanism, which fuels rapid iteration and innovation, CooTek is confident in achieving a larger-scale game production and growing exponentially in the global market.

As an essential component of the pan-entertainment content, mobile games have created positive synergies with CooTek’s other business sectors, such as online literature. The Company’s collaboration with third-party game studios, via strategic investments, has strengthened game resources and increased the variety of game offerings. To pursue further expansion in the game industry, CooTek will continue to invest in the development of boutique games by integrating with high-quality game studios and assisting game developers in giving full play to their talents while boosting game user experience. 

About CooTek (Cayman) Inc.

CooTek is a fast-growing mobile internet company with a global vision, offering mobile applications. Our mission is to empower everyone to enjoy relevant content seamlessly. The Company’s user-centric and data-driven approach has enabled it to release appealing products to capture mobile internet users’ ever-evolving content needs and helps it rapidly attract targeted users. CooTek has developed and brought to market content-rich mobile applications, focusing on three categories: online literature, scenario-based content apps and casual games. For details, please visit: https://ir.cootek.com/.

For investor enquiries, please contact:

CooTek (Cayman) Inc.
Mr. Robert Yi Cui
Email: ir@cootek.com   

ICA (Institutional Capital Advisory)
Mr. Kevin Yang
Phone: +86-21-8028-6033
E-mail: cootek@icaasia.com

CASETiFY Sets Sail with New ONE PIECE Tech Accessory Collection

The popular Japanese manga series is bringing Luffy and the rest of the Straw Hat Crew to the global lifestyle brand’s best-selling products, just in time for CASETiFY’s 10-year anniversary.

HONG KONG AND LOS ANGELES, May 14, 2021 — Today, CASETiFY announced its latest partnership with the world’s most popular manga series, ONE PIECE. Incorporating CASETiFY’s globally-loved custom elements, fans are invited to show their creativity and adventurous spirit with a new collection of lifestyle products featuring Luffy and the Straw Hat Pirates. Eager shoppers can "climb aboard" the virtual waitlist by visiting casetify.com/onepiece, signing up for priority access to the collection on launch day, May 27.

The popular Japanese manga series is bringing Luffy and the rest of the Straw Hat Crew to the global lifestyle brand’s best-selling products, just in time for CASETiFY’s 10-year anniversary.
The popular Japanese manga series is bringing Luffy and the rest of the Straw Hat Crew to the global lifestyle brand’s best-selling products, just in time for CASETiFY’s 10-year anniversary.

With a shared enthusiasm for pushing boundaries and embarking on exciting adventures, the ONE PIECE x CASETiFY collection inspires a coming together of the popular Japanese manga characters and CASETiFY’s coveted innovations. ONE PIECE fans will instantly spot special designs from the show on a series of best-selling CASETiFY accessories, including the ultra protective Impact Cases, MagSafe-Compatible Cases, Biodegradable Leather Cases, and everyday essential Material Cases, retailing for $45+ USD. For the first time, fans can get up close and personal with their favorite characters by adding their names and monograms to special edition iPhone cases, available in a variety of colorways, spotlighting the likes of Luffy, Zoro, Ace, Nami, Sanji, Sabo, and Chopper. Rounding out the phone case designs in the collection, customers will find inspired takes on recognizable motifs from the show, including Luffy’s own drawing of the Jolly Roger, a compass to guide the Straw Hat Crew on their journey, and graphic icons of the characters in the famed CASETiFY sticker-style treatment, retailing for $45$70 USD. The entire collection of phone cases extends to a variety of customizable styles loved by the CASETiFY community, with the addition of a brand new "high sea" inspired reflective case, introduced in rare limited quantities and made specially for the 10-Year anniversary of CASETiFY’s founding.

"Everyday we’re inspired by our community for taking risks and being unapologetically themselves, so teaming up with ONE PIECE to showcase their beloved, adventurous characters in a new way feels like a natural fit for our collections," said Wes Ng, CEO and Co-founder of CASETiFY. "We believe our fans will enjoy this special collaboration, experiencing their favorite series through CASETiFY’s creative lens."

Following the anticipated addition of new phone case styles, CASETiFY also introduces a series of limited edition tech accessories and lifestyle items, made exclusively for the ONE PIECE x CASETiFY collaboration. Fans will soon be able to dress their AirPods in a new 3-D printed Devil Fruit AirPods Case, modeled after Luffy’s infamous superpower treat, in addition to classic sticker-style options for both AirPods and AirPods Pro cases. For more fan gear, customers can shop the new designs in a range of grip stands, saffiano leather Apple Watch bands, and stainless steel water bottles—along with an extremely limited release of the Laboon Basketball, enticing collectors and sporty customers alike. Products range from $35$79 USD, available for purchase while supplies last.

Starting May 13, fans can sign up for the ONE PIECE x CASETiFY collection waitlist, and take part in a special promotion in honor of CASETiFY’s year-long anniversary celebration. For the first-time in CASETiFY Co-Lab history, fans are invited to guess the mystery character joining the collection, choosing between Frankie, Brook, Law and Robin. Correct guesses will be automatically entered in the collection raffle, where six lucky winners will receive a free personalized character case of their choice. To take part in the contest and join the celebration, visit the collection webpage at casetify.com/onepiece, and stay tuned to CASETiFY social channels for more announcements.

The ONE PIECE x CASETiFY collection launches globally online at www.casetify.com/onepiece on May 27, with products shipping worldwide and select items making their way to CASETiFY retail locations. To learn more about the collection, products, and CASETiFY Co-Lab updates, visit online and stay tuned to @CASETiFY on Instagram, Facebook, and Twitter.

About CASETiFY

Founded in 2011, CASETiFY is recognized as the first and largest global platform for custom tech accessories. The leading Gen Z casemaker not only delivers high quality products to millions of customers around the world, but every case is rigorously inspected for a stylishly slim, drop-proof accessory. Fans of the brand often look to CASETiFY for special edition collaborations with top creatives and talents across industries. Members of the CASETiFY Co-Lab program include Moncler Genius, Vetements, DHL, Coca-Cola, The Pokémon Company, streetwear label BAPE, and global superstars BTS. For more information on CASETiFY, its stores, partners and products, visit www.CASETiFY.com.

About ONE PIECE

ONE PIECE is an original manga series written and illustrated by Eiichiro Oda. Since its start in 1997, it has been serialized in Shueisha’s Weekly Shōnen Jump magazine, leading to quick popularity and the beginning of its animated broadcast in 1999. Now, the long-running series, boasting a high popularity, is scheduled to surpass 1,000 episodes in 2021.

ONE PIECE has spawned numerous mixed media releases, becoming an inspiration for games and other related products, with no end in sight to future possibilities. It is the pinnacle of entertainment, and the series continues to grow as a frontrunner in its industry.

Huawei Mobile Services Partners with Swrve to Bring Leading Customer Engagement to Huawei Users

The Swrve SDK integrated with Huawei Push Service is now available for Swrve customers and worldwide developers.

SHENZHEN, China, May 13, 2021 — Huawei, the leading global technology company, has partnered with Swrve, a leading marketing and customer experience platform, enabling global enterprises to engage with Huawei mobile users through Huawei Push Service which is integrated within the Swrve SDK.

"We are excited to extend our real-time marketing and customer experience platform for mobile, web, and TV to Huawei platforms and devices. Swrve customers will now have the ability to deploy powerful push and in-app messaging experiences to reach Huawei consumers with experiences that are dynamically personal and built around the individual to measurably deepen relationships," said Lisa Cleary, CEO at Swrve.

Swrve, a 2020 Gartner Magic Quadrant Leader for Mobile Marketing Platform, provides a world leading set of mobile-first capabilities such as push notifications, in-app experiences, and embedded experiences for enterprise companies to interact and engage with their users.

Partnership creates unique, intuitive, and premium experiences for customers globally

The partnership between Swrve and Huawei opens the door for brands and manufacturers to build a mobile-first direct-to-consumer relationship with just one engagement tool without compromising multi-platform push channels.

"At Swrve, we understand the importance of delivering a truly great customer experience without compromise across all devices and platforms,” Lisa explains. "The partnership between Swrve and Huawei opens the door for global brands to further connect directly to consumers with powerful experiences at global scale."

Huawei is committed to forging strong partnerships with leading platforms, providing brands with the tools and expertise to create unique, intuitive, and premium experiences for their customers while growing their business. With Swrve joining the HMS ecosystem, their easy-to-use SDK is now available for brands to enable push services and deliver relevant and customised services to their customers quickly.

For more information, please visit Huawei Ecosystem Partner Site and Swrve SDK integration guide.

About AppGallery –Top 3 Global App Marketplace

AppGallery is a smart and innovative ecosystem that allows developers to create unique experiences for consumers. Our unique HMS Core allows apps to be integrated across different devices, delivering more convenience and a smoother experience – and this is part of our wider "1+8+N" strategy at Huawei.

Our vision is to make AppGallery an open, innovative app distribution platform that is accessible to consumers, and at the same time, strictly protects users’ privacy and security while providing them with a unique and smart experience.

About Swrve

Swrve is the leading marketing and customer experience platform for mobile, web, and TV, helping leading enterprises connect with their mobile-first customers to create lasting and valuable relationships. World leading brands such as Playrix, Sony Pictures, and Telefónica use Swrve to identify, predict, and anticipate the needs of customers with real-time behavioral data across mobile, web, and TV apps. Learn more at swrve.com or follow us on Twitter and LinkedIn.

 

Related Links :

https://consumer.huawei.com

Xi Jinping Takes Inspiration from Classic Text in Call for Greater Harmony between Humans, Nature

BEIJING, May 8, 2021 — A report from CCTV+:

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Chinese President Xi Jinping has on many occasions stressed the need for greater efforts to protect the ecological environment, with Xi taking his inspiration from classic works and looking to promote the shift towards a greener, low-carbon lifestyle to ensure harmony between humans and nature.

Xi quoted from the ancient Chinese classical text ‘Zi Zhi Tong Jian’, or ‘Comprehensive Mirror in Aid of Governance’, first published almost a millennium ago, in a speech delivered at the opening of the Beijing Horticultural Expo back in April 2019.

During this speech, Xi acknowledged that: "industrialization, while generating unprecedented material wealth, has incurred serious damage to Mother Nature."

These remarks came against the backdrop of growing concern over the effects of climate change, as well as worries that fossil fuels could soon run out if humans continue to burn at the current rate, while key resources such as land, water and energy are all becoming more limited.

"’Well-measured use of natural resources’ is the key to ecological conservation," Xi told the expo.

"We need to promote a simpler, greener, and low-carbon lifestyle, oppose excessiveness and wastefulness, and foster a culture of living green and healthy," the president said.

"Looking up at night, we are awed by the many stars in the sky. Planet Earth is the only home for mankind. We must protect this planet like our own eyes, and cherish nature the way we cherish life," Xi said.

China’s latest five-year plan also paves the way for its promise of peaking carbon dioxide emissions by 2030 and achieving carbon neutrality by 2060. The 14th Five-Year Plan (2021-2025) vows to lower energy consumption per unit of gross domestic product (GDP) and carbon dioxide emissions per unit of GDP by 13.5 percent and 18 percent, respectively, during the next five-year period.

In the past 10 years, China has ranked first globally in terms of the increase in forest resources, with its afforestation area exceeding 70 million hectares. Meanwhile, 90 percent of terrestrial ecosystem types and 85 percent of key wild animal populations are under effective state protection. China has also pledged to increase the forest stock volume by six billion cubic meters by 2030 from the 2005 level and bring its total installed capacity of wind and solar power to over 1.2 billion kilowatts.

Link: https://www.youtube.com/watch?v=6pbnX22aokU

Ericsson and Samsung sign global patent license agreement

– Agreement includes global patent cross license of cellular technologies, including 5G

– Settlement ends all ongoing patent related legal disputes between the parties

– In the second quarter 2021, IPR licensing revenues are expected to be SEK 2.0 b. to 2.5 b.

STOCKHOLM, May 7, 2021 — Ericsson (NASDAQ: ERIC) and Samsung have reached a multi-year agreement on global patent licenses between the two companies, including patents relating to all cellular technologies. The cross-license agreement covers sales of network infrastructure and handsets from January 1, 2021. 

Furthermore, Ericsson and Samsung have agreed on technology cooperation projects to advance the mobile industry in open standardization and create valuable solutions for consumers and enterprises.

This settlement ends complaints filed by both companies before the United States International Trade Commission (USITC) as well as the ongoing lawsuits in several countries and confirms the value of the strong patent portfolios of both companies. The details of the agreement are confidential and will not be disclosed.

Ericsson’s IPR licensing revenues continue to be affected by several factors, mainly expired patent license agreements pending renewal, geopolitical impact on the handset market, technology shift from 4G to 5G, and possible currency effects going forward. In the second quarter 2021, IPR licensing revenues, including the new agreement covering sales from January 1, 2021, are expected to be SEK 2.0 b to 2.5 b.

Christina Petersson, Chief Intellectual Property Officer at Ericsson says: "We are delighted to sign a mutually beneficial agreement with Samsung. This important deal confirms the value of our patent portfolio and further illustrates Ericsson’s commitment to FRAND principles."

Over several decades, Ericsson has made significant investments in R&D and in developing global mobile standards and is committed to licensing its standard-essential patents on fair, reasonable and non-discriminatory (FRAND) terms for the benefit of consumers and enterprises everywhere. The FRAND system allows access to technology and intellectual property, developed by inventors like Ericsson, and also rewards those inventors for their major up-front investment in R&D in each mobile generation.

The value of Ericsson’s IP portfolio extends to more than 57,000 granted patents and is strengthened by annual investment in R&D of approx. SEK 40 b. With a leading global position in 5G, the company is confident of growing its IPR revenues long term, thereby further maximizing the value of the overall patent portfolio.

NOTES TO EDITORS:

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ABOUT ERICSSON
Ericsson enables communications service providers to capture the full value of connectivity. The company’s portfolio spans Networks, Digital Services, Managed Services, and Emerging Business and is designed to help our customers go digital, increase efficiency and find new revenue streams. Ericsson’s investments in innovation have delivered the benefits of telephony and mobile broadband to billions of people around the world. The Ericsson stock is listed on Nasdaq Stockholm and on Nasdaq New York. www.ericsson.com

Forward-looking statements

This release includes forward-looking statements, including statements reflecting management’s current views relating to the growth of the market, future market conditions, future events, financial condition, and expected operational and financial performance, including, in particular the following:

– Our goals, strategies, planning assumptions and operational or financial performance expectations

– Industry trends, future characteristics and development of the markets in which we operate

– Our future liquidity, capital resources, capital expenditures, cost savings and profitability

– The expected demand for our existing and new products and services as well as plans to launch new products and services including research and development expenditures

– The ability to deliver on future plans and to realize potential for future growth

– The expected operational or financial performance of strategic cooperation activities and joint ventures

– The time until acquired entities and businesses will be integrated and accretive to income

– Technology and industry trends including the regulatory and standardization environment in which we operate, competition and our customer structure.

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We caution investors that these statements are subject to risks and uncertainties many of which are difficult to predict and generally beyond our control that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements.

Important factors that could affect whether and to what extent any of our forward-looking statements materialize include, but are not limited to, the factors described in the section "Risk Factors" in the latest interim report, and in "Risk Factors" in the Annual Report 2020.

These forward-looking statements also represent our estimates and assumptions only as of the date that they were made. We expressly disclaim a duty to provide updates to these forward-looking statements, and the estimates and assumptions associated with them, after the date of this release, to reflect events or changes in circumstances or changes in expectations or the occurrence of anticipated events, whether as a result of new information, future events or otherwise, except as required by applicable law or stock exchange regulations.

This information is information that Telefonaktiebolaget LM Ericsson is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above at 08:00 am CEST on May 7, 2021.

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Ericsson and Samsung sign global patent license agreement

 

Blue Hat Announces First Quarter 2021 Financial Results, Highlighted by 343% Increase in Revenues to $9.9 Million and 62% Increase in Net Income to $1.2 Million

XIAMEN, China, May 5, 2021 — Blue Hat Interactive Entertainment Technology ("Blue Hat" or the "Company") (NASDAQ: BHAT), a leading producer, developer and operator of augmented reality ("AR") interactive entertainment games, toys and educational materials in China, today announced its unaudited financial results for the quarter ended March 31, 2021.

First Quarter 2021 Financial Highlights

  • Total revenues of US$9.9 million, compared to US$2.2 million in the first quarter of 2020, driven by increased sales across all lines of business particularly the mobile games and communication services businesses, which saw strong growth following the strategic acquisitions of Xunpusen Technology Co., Ltd. ("Xunpusen") in late 2020 and Fuzhou Csfctech Co., Ltd. ("Csfctech") and its two subsidiaries in January 2021
  • Gross profit of US$4.1 million, up 143.8% from US$1.7 million in the first quarter of 2020
  • Income from operations of US$1.7 million, up 96.7% from US$0.9 million in the first quarter of 2020
  • Net income of US$1.2 million, up 62.0% from US$0.8 million in the first quarter of 2020
  • US$14.7 million in cash and cash equivalents at March 31, 2021

Management Commentary

Mr. Xiaodong Chen, CEO of Blue Hat, stated, "We were pleased with the strong performance across all of our business segments, which resulted in phenomenal top line growth driven by US$5.3 million in contributions from our new IDC business and by a US$2.4 million increase in contributions from mobile games following our acquisition of 51% of Csfctech and its two subsidiaries in January 2021. We achieved 62.0% growth on the bottom line to US$1.2 million during the period and anticipate margins will improve over the course of 2021 as our businesses continue to grow and the expenses normalize from initial highs. We recently announced the official launch of our new AR+ series curriculum, which is an upgrade from our original Augmented Reality Immersive Classes ("ARIC") and has been developed and tested over the past six months. We expect the five urban partnerships that we have signed for the AR+ series curriculum will accelerate the future growth of our AR education business. We are beginning to see tangible results from this development that has strengthened the foundation of our business over the course of the past year, and we anticipate it will provide us with significant long-term growth potential for our product and service offerings."

Recent Operating Highlights

  • In April 2021, Blue Hat signed a two-year licensing agreement with Tencent QQ ("QQ") to use its intellectual property, specifically, the QQ penguin logo and QQ emoji, on Blue Hat’s toy products and related marketing materials, effective March 1, 2021. QQ launched in 1999 and has become one of the most commonly used instant messenger applications in China. According to QQ’s self-disclosed report, there were approximately 617 million active monthly users on their messenger application in 2020. The QQ penguin logo and QQ emoji are dominantly recognizable in Chinese pop culture.
  • In April 2021, Blue Hat announced that its subsidiary company, Fujian Zhongqing Hand in Hand Education Technology Co., Ltd. ("Zhongqing") signed a three-year cooperation agreement of "Augmented Reality Plus", or "AR+" series curriculum with five partners in different cities: Quanzhou in Fujian Province, Huizhou in Guangdong Province, Danzhou in Hainan Province, Fuzhou in Jiangxi Province, and Yinchuan in the Ningxia Hui Autonomous Region. We anticipate rolling out this new curriculum to approximately 150 schools in these five regions as part of this partnership.

First Quarter 2021 Results

Total revenues were US$9.9 million for the quarter ended March 31, 2021, an increase of US$7.7 million, or 343.1%, compared to US$2.2 million in the first quarter of 2020. The significant revenue growth was primarily attributable to increased contributions from Blue Hat’s two recently acquired subsidiaries, Xunpusen in late 2020 and Csfctech in early 2021.

Revenues from sales of interactive toys (game series) were US$1.9 million for the quarter ended March 31, 2021, compared to US$1.7 million in the first quarter of 2020.

Revenues from sales of interactive toys (animation series) were US$0.09 million for the quarter ended March 31, 2021, a significant increase from zero in the first quarer of 2020.

Revenues from mobile games were US$2.4 million for the quarter ended March 31, 2021, an increase of US$1.9 million, or 315.2%, following the closing of the Csfctech acquisition during the period.

Revenues from AR education, previously included under interactive toys (animation series), were US$0.2 million for the quarter ended March 31, 2021. Growth in the AR education business has been primarily driven by the roll-out and implementation of Blue Hat’s ARIC system to various schools through 2020 and into 2021.

Revenues from communication services were US$5.37 million for the quarter ended March 31, 2021. The gain was due to the acquisition of Xunpusen in the second half of 2020.

Gross profit was US$4.1 million for the quarter ended March 31, 2021, an increase of 143.8% from US$1.7 million in the first quarter of 2020. Gross margin for the five different business lines were as follows:

  • Interactive toys (animation series): 65.6%, or US$0.06 million
  • Interactive toys (game series): 53.6%, or US$1.0 million
  • Mobile games: 84.5%, or US$2.1 million
  • AR education: 97.2%, or US$0.2 million
  • Communication services: 13.9%, or US$0.7 million

Total gross margin was 41.1% for the quarter ended March 31, 2021, compared to 74.6% in the same period last year. The decrease was due to higher initial costs associated with establishing new business lines, such as licensing costs and copyright costs, among others.

Total operating expenses were US$2.3 million for the quarter ended March 31, 2021, which includes expenses from Csfctech and its two subsidiaries, compared to US$0.8 million in the first quarter of 2020.

Income from operations was US$1.7 million for the quarter ended March 31, 2021, compared to US$0.9 million in the first quarter of 2020.

Net income was US$1.2 million, up US$0.57 million, or 62.0%, from US$0.85 million in the first quarter of 2020. The increase was primarily driven by strong revenue growth, which more than offset an increase in operating expenses. 

Diluted earnings per share were US$0.024 for the quarter ended March 31, 2021, compared to US$0.022 for the first quarter of 2020. During the first quarter of 2021, the Company completed a registered direct offering with two institutional investors for the purchase and sale of 7.16 million ordinary shares at a price of $1.06 per share, resulting in total gross proceeds of approximately $7.59 million before deducting the placement agent’s fees and other offering expenses. The net proceeds is approximately $6.8 million.

Balance Sheet Highlights

As of March 31 2021, Blue Hat had cash and cash equivalents of US$14.7 million, working capital of US$34.6 million and total shareholders’ equity of US$75.5 million, compared to cash and cash equivalents of US$15.8 million, working capital of US$34.0 million, and total shareholders’ equity of US$58.9 million, respectively, at December 31, 2020.

About Blue Hat

Blue Hat Interactive Entertainment Technology is a producer, developer and operator of AR interactive entertainment games and toys in China, including interactive educational materials, mobile games, and toys with mobile game features. Distinguished by its own proprietary technology, Blue Hat aims to create an engaging, interactive and immersive community for its users. For more information, please visit the Company’s investor relations website at http://ir.bluehatgroup.com. The Company routinely provides important information on its website.

Forward-Looking Statements 

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the Company’s SEC filings. These risks and uncertainties could cause the Company’s actual results to differ materially from those indicated in the forward-looking statements.

Contacts:

Blue Hat Interactive Entertainment Technology
Phone: +86 (592) 228-0010
Email: ir@bluehatgroup.net

Investor Relations:

The Equity Group Inc.                                 
Carolyne Y. Sohn, Vice President              
(415) 568-2255                                             
csohn@equityny.com                                   

In China
Lucy Ma, Associate
+86 10 5661 7012
lma@equityny.com

 

BLUE HAT INTERACTIVE ENTERTAINMENT TECHNOLOGY AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

For the Three Months Ended March 31,

2021

2020

Revenues

$

9,941,407

2,243,658

Cost of revenue

5,859,847

569,489

Gross profit

4,081,560

1,674,169

Operating expenses:

Selling

580,046

173,150

General and administrative

1,315,777

539,710

Research and development

444,211

76,051

Total operating expenses

2,340,034

788,911

Income from operations

1,741,526

885,258

Other income (expense)

Interest income

194

377

Interest expense

(137,615)

(72,607)

Other finance expenses

(40,970)

(57,749)

Other income, net

30,509

18,534

Total other (expense) income, net

(147,882)

(111,445)

Income before income taxes

1,593,644

773,813

Provision for income taxes

363,146

14,440

Net income

1,230,498

759,373

Other comprehensive income (loss)

Foreign currency translation adjustment

(366,176)

(605,360)

Comprehensive income

$

864,322

154,013

Less: Comprehensive income attributable to non-controlling
interests

527,194

Comprehensive income attributable to Blue Hat Interactive Entertainment shareholders

337,128

154,013

Weighted average number of ordinary shares

Basic

47,127,200

35,141,114

Diluted

52,012,580

35,141,114

Earnings per share

Basic

$0.026

$0.022

Diluted

$0.024

$0.022

 

BLUE HAT INTERACTIVE ENTERTAINMENT TECHNOLOGY AND SUBSIDIARIES

UNAUDITED CONSOLIDATED BALANCE SHEETS

March 31,

December 31,

ASSETS

2021

2020

Current assets:

Cash and cash equivalents

$

14,674,783

$

15,800,563

Restricted cash

Short-term investments

Accounts receivable, net

28,535,745

16,594,533

Accounts receivable – related party

1,906,101

Other receivables, net

21,181,096

14,350,223

Other receivables – related party

Inventories

168,346

117,075

Prepayments, net

5,238,393

1,917,780

Total current assets

69,798,363

50,686,275

Property and equipment, net

4,342,565

4,258,121

Other assets:

Prepayments

7,205,230

4,164,274

Operating lease, right-of-use asset

355,805

290,410

Intangible assets, net

26,784,385

14,252,575

Long-term investments

1,826,123

1,914,668

Deferred tax assets

252,564

119,127

Goodwill accounting

213,688

Total other assets

36,637,795

20,741,054

Total assets

$

110,778,723

$

75,685,450

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:

Short-term loans – banks

$

4,338,151

$

5,129,295

Current maturities of long-term loans – third party

14,117

Accounts payable

3,110,529

935,588

Convertible bonds payable

54,150

739,189

Other payables and accrued liabilities

16,470,149

1,846,917

Other payables – related party

25,677

25,837

Operating lease liabilities – current

283,352

300,468

Customer deposits

756,945

941,877

Accrual interest payable

751,641

Taxes payable

9,394,094

6,802,454

Total current liabilities

35,184,688

16,735,742

Other liabilities:

Operating lease liability

85,493

Long-term loans – third party

Total other liabilities

85,493

Total liabilities

35,270,181

16,735,742

COMMITMENTS AND CONTINGENCIES

Shareholders’ equity

Ordinary shares, $0.001 par value, 100,000,000 shares
authorized, 47,127,200 shares issued and outstanding as of March
31, 2021, and 38,553,694 shares issued and outstanding as of
December 31, 2020

 

 

 

47,127

 

 

 

38,554

Stock subscription receivable

Additional paid-in capital

31,453,071

23,466,482

Statutory reserves

2,204,174

2,204,174

Retained earnings

32,090,702

31,387,398

Accumulated other comprehensive income (loss)

1,375,520

1,741,696

Total Blue Hat Interactive Entertainment Technology shareholders’ equity

67,170,594

58,838,304

Non-controlling interests

8,337,948

111,404

Total equity

75,508,542

58,949,708

Total liabilities and shareholders’ equity

$

110,778,723

$

75,685,450

 

Related Links :

http://www.bluehatgroup.net

AAC’s WLG Hybrid Camera Lens Global debut marks a new dawn in Mobile Photography

SHENZHEN, China, April 30, 2021 — Xiaomi’s Redmi K40 Gaming Edition is the first mobile phone in the world to incorporate a Wafer Level Glass (WLG) hybrid camera lens.  The K40 Gaming Edition was officially launched on April 27th, 2021. The hybrid camera lens solution includes 1 glass + 5 plastic lens elements provided by AAC Optics, a subsidiary of AAC Technologies.  AAC Optics made their initial investment into WLG 10 years ago and has subsequently developed patented expertise to enable high volume production of Wafer Level Glass (WLG) technology into the Smartphone, Automotive, and IOT (Internet of Things) markets.

The launch represents a milestone in mobile photography. The camera touts a larger aperture and a 15% increase in light reaching the sensor, enabling lower noise and more detail for low light and night photography. The unique lens coating and anti-reflective technologies reduce ghosting and flare in complex light environments. With increased aperture, optical designers have greater design freedom for improved performance and smaller dimensions, making phones lighter and thinner.

Due to the extremely challenging manufacturing process of glass material, all mobile phones currently use plastic lenses. Leveraging semiconductor wafer manufacturing techniques, AAC Optics has demonstrated that glasses lenses can be mass produced for global smartphone supply chains. Due to the highly transferable technology, WLG is suitable for making a variety of high-precision aspheric glass lenses. This will open limitless opportunities for glass lenses to improve the end user experience in applications beyond smartphones, including automotive, AR/VR, drones, smart home devices and wearables. 

For the press kit, click here:

About AAC Technologies:
AAC Technologies Holdings Inc. is a leading solutions provider for smart devices. Our cutting-edge technologies in materials research, simulation, algorithms, design, automation and process development in Acoustics, Optics, Electromagnetic Drives and Precision Mechanics, MEMS, Radio Frequency and Antenna, enable us to develop advanced miniaturized proprietary technology solutions. Our goal is to "Lead Innovation & Enhance User Experience". In delivering high-performance and superior quality products, the Group will continue to create value for customers with innovative user experience. https://www.aactechnologies.com/

AAC Technologies is a constituent stock of the Hang Seng Index, Hang Seng Corporate Sustainability Index, Hang Seng China (Hong Kong Listed) 100 Index and MSCI China Index with HK stock code 2018.

Contact: David Plekenpol, DavidPlekenpol@aactechnologies.com

TECNO Appoints Internationally Renowned Actor Chris Evans as its global brand ambassador

– Chris Evans as TECNO’s brand ambassador will debut in TECNO’s May 6th product online launch event and global product campaigns thereafter.

SHENZHEN, China, April 30, 2021 — TECNO, the global premium smartphone brand, today announced its partnership with internationally renowned actor Chris Evans as its brand ambassador. Best known for his role as Captain America in the Marvel Universe series of films, the charismatic Chris Evans embodies many of the qualities that have been synonymous with TECNO, especially TECNO’s ‘Stop at Nothing’ brand philosophy which aims to inspire people to always keep ‘young at heart’ and never stop pursuing excellence.

Talking about the partnership with TECNO, Chris Evans said, "I am happy to partner with TECNO, an innovative smartphone brand which provides consumers in emerging markets with the newest smartphone technology. Whether it’s a phone call with someone you love or an image you capture to keep as a meaningful memory, smartphone technology is at the center of it all. It is really inspiring to  work with such a great brand that stops at nothing to encourage people in those markets to explore more possibilities."


Stephen Ha, General Manager of TECNO Mobile, said, "TECNO is committed to giving the masses access to latest technology, allowing the consumers to reach beyond their current limitations and uncover a world of possibilities. Chris Evans embodies TECNO’s brand motto ‘young at heart’ and the pursuit of excellence. This partnership with him enhances TECNO’s continuous global footprint and helps to highlight the brand’s upgraded product design, which is increasingly fashionable, energetic, and constantly pioneering. I firmly believe the association will bring us an opportunity to grow within our existing customer base and enable us to go further on the brand globalization."

The partnership with Chris Evans is another milestone for TECNO after its association with Manchester City Football Club, and is part of TECNO global brand upgrading strategy, which aims to unlock the best of contemporary technologies in artistic designs, showcasing its mastery of serving the youth-generation consumers through the innovation, technological and artistic progression in the emerging markets worldwide.

Chris Evans will lead the launch of the coming TECNO CAMON 17 on May 6th, and will be featured in TECNO’s brand campaigns in emerging markets. He will also see everyone at the virtual launch video on May 6th.

DouYu International Holdings Limited Filed Its Annual Report on Form 20-F

WUHAN, China, April 30, 2021 — DouYu International Holdings Limited ("DouYu" or the "Company") (Nasdaq: DOYU), a leading game-centric live streaming platform in China and a pioneer in the eSports value chain, today announced that it has filed its annual report containing its audited consolidated financial statements for the fiscal year ended December 31, 2020 on Form 20-F with the Securities and Exchange Commission (the "SEC") on April 30, 2021 Eastern Time. The annual report can be accessed on DouYu’s investor relations website at http://ir.douyu.com/ and on the SEC’s website at http://www.sec.gov. The Company will provide hard copies of the annual report, free of charge, to its shareholders and ADS holders upon request. Requests should be directed to ir@douyu.tv

About DouYu International Holdings Limited

Headquartered in Wuhan, China, DouYu International Holdings Limited (Nasdaq: DOYU) is a leading game-centric live streaming platform in China and a pioneer in the eSports value chain. DouYu operates its platform on both PC and mobile apps, through which users can enjoy immersive and interactive games and entertainment live streaming. DouYu’s platform brings together a deep pool of top live streamers. By providing a sustainable streamer development system built on advanced technology infrastructure and capabilities, DouYu helps ensure a consistent supply of quality content. Through collaborations with a variety of participants across the eSports value chain, the Company has gained coveted access to a wide variety of premium eSports content, which further attracts viewers and enhances user experience. For more information, please see http://ir.douyu.com/.

Investor Relations Contact
Mao Mao
DouYu International Holdings Limited
Email: ir@douyu.tv
Phone: +1 (646) 224-6934

Xinran Rao
ICR, Inc.
Email: DouYu.IR@icrinc.com
Phone: +1 (646) 224-6934

Media Relations Contact
Iris Ding
DouYu International Holdings Limited
Email: pr_douyu@douyu.tv
Phone: +1 (646) 308-1475

Edmond Lococo
ICR, Inc.
Email: DouYu.PR@icrinc.com
Phone: +1 (646) 308-1475

 

Related Links :

https://www.douyu.com/