Tag Archives: GAM

Agora to Work with HP to Power Real Time Engagement in OMEN Oasis


SANTA CLARA, Calif., June 22, 2021 — Agora, Inc. (NASDAQ: API), a pioneer and leading platform for real-time engagement (RTE) APIs, today announced it is working  with HP Inc. to power RTE for OMEN Oasis – a feature currently in beta and available through OMEN Gaming Hub which is pre-installed on all OMEN PCs. The collaboration will integrate Agora’s voice, video, messaging, and interactive live streaming technology into OMEN Oasis to allow up to 16 people to play their favorite titles together in virtual watch party rooms.

"We are excited to work with HP to integrate the power of real-time engagement into OMEN Oasis," said Reggie Yativ, CRO and COO at Agora. "Together, we have worked to create an experience that will empower millions of OMEN community members and gamers to chat and engage with each other in real-time, no matter what corner of the globe they or their friends live in." 

Agora Software Development Kit (SDK) will power OMEN Oasis using Agora’s proprietary global Software-Defined Real-Time Network (SD-RTN™), allowing gamers to engage in real-time, low-latency gameplay and share in the amazing gaming experience provided on all OMEN devices.

To learn more about OMEN Oasis and download it today, visit https://www.omen.com/us/en/oasis.html. For more information about Agora and its partnerships, visit: www.agora.io.

About Agora

Agora is a Real-time Engagement Platform as a Service (RTE PaaS) company. Agora’s mission is to make real-time engagement ubiquitous, allowing everyone to interact with anyone, in any application, anytime and anywhere. Agora’s platform provides developers with simple, flexible and powerful application programming interfaces, or APIs, to embed real-time video and voice engagement experiences into their applications.

 

Related Links :

http://www.agora.io

SKT to Participate in E3 2021 to Showcase Exciting Korean Games

  • SKT will participate in ‘E3 2021’ for the first time as a South Korean telecommunication company and target the global console game market.
  • It will present ‘ANVIL,’ ‘Little Witch in the Woods,’ ‘Vapor World,’ and ‘NEOVERSE’ at E3 2021. 
  • With the participation of E3, SKT will begin to publish various video games and actively support South Korean game markets.

SEOUL, South Korea, June 13, 2021 — SK Telecom (hereinafter referred to as "SKT") will participate in the world’s biggest game exhibition, ‘E3 2021’, for the first time as a South Korean telecommunication company to target the global console game market.

SKT to Participate in E3 2021 to Showcase Exciting Korean Games
SKT to Participate in E3 2021 to Showcase Exciting Korean Games

As the only company in Asia to cooperate with Microsoft’s Xbox for 5GX Cloud Gaming, SKT plans to set up a separate online booth at E3 2021 and introduce console games developed by South Korean game companies. 

E3, which stands for Electronic Entertainment Expo, is the largest video game exhibition in North America hosted by Entertainment Software Association, ESA, from the United States. This year, it will be held for four days from 16th in local time with more than 50 global game developers and publishers, including SKT, Xbox, Nintendo, and Ubisoft.

However, due to COVID-19, this year’s E3 will be held online through its official web page or mobile application. It is available to sign up as a visitor on the official web page of E3(https://e3expo.com).

Online booth of SKT at 'E3 2021'
Online booth of SKT at ‘E3 2021’

SKT’s game lineup includes ANVIL, Little Witch in the Woods, VAPOR World, and NEOVERSE. 

ANVIL: Developed by Action Squire, ANVIL is a multi-player co-op top-down sci-fi roguelike action shooter where players control characters called Vault Breakers to explore various galaxies that are filled with monsters.  

Little Witch in the Woods: Created by Sunny Side UP, Little Witch in the Woods is a pixel art-fantasy role-playing-game where players play as Ellie, a young witch who comes to a town and joins a witch’s house to study magical creatures, brew potions and to learn more witchcraft. 

VAPOR World: Developed by Alive, VAPOR World is an action and adventure game where players play in the inner world of mental patients. 

NEOVERSE: Created by Tinogames, NEORVERSE is a time warping multiverse game consisting of thrilling adventures that are packed with great and exciting challenges; combining roguelite, deck building and strategy gameplay all in one. 

Among the above four games, NEOVERSE became the first to be released as an Xbox game and 5GX Cloud Game in December 2020. The other three games will also launch on Xbox and 5GX Cloud Game gradually within this year. During the E3 Expo, visitors will be able to play the demo version of ANVIL and provide feedback to increase the level of completion of the game. 

SKT expects E3 2021 to raise the awareness of console games created by Korean game developers and help these developers expand into the global market.

"We are delighted to participate in E3 2021 with prominent game developers in Korea," Cho Jae-yoo, Vice President and Head of Game Business at SKT. "Based on Xbox platform and 5GX Cloud Game, we will make continuous efforts to help create valuable global market opportunities for Korean game companies and enrich the overall game ecosystem."

About SK Telecom

SK Telecom (NYSE:SKM) is Korea’s leading ICT company, driving innovations in the areas of mobile communications, media, security, commerce and mobility. Armed with cutting-edge ICT including AI and 5G, the company is ushering in a new level of convergence to deliver unprecedented value to customers. As the global 5G pioneer, SKT is committed to realizing the full potential of 5G through ground-breaking services that can improve people’s lives, transform businesses, and lead to a better society.

SKT boasts unrivaled leadership in the Korean mobile market with over 30 million subscribers, which account for nearly 50 percent of the market. The company now has 49 ICT subsidiaries and annual revenues approaching KRW 18.6 trillion.

For more information, please contact skt_press@sk.com or visit our LinkedIn page www.linkedin.com/company/sk-telecom.

 

Notice of the Twenty-second Annual General Meeting of Shareholders

TAIPEI, May 28, 2021NOTICE IS HEREBY GIVEN that the 22nd annual general meeting of the shareholders of GigaMedia Limited (the "Company") will be held on June 24, 2021 at 11 a.m. local time at 8F, No.22, Lane 407, Sec.2, Tiding Blvd., Neihu District, Taipei, Taiwan, R.O.C , for the following purposes:

AS ORDINARY AND SPECIAL BUSINESS

ORDINARY RESOLUTIONS:

To consider and, if thought fit, to pass, with or without modification, the following resolutions which will be proposed as Ordinary Resolutions:

1. Adoption of audited financial statements

RESOLVED that the Statement by the Directors, Auditor’s Report and Audited Financial Statements of the Company for the financial year ended December 31, 2020 are received and adopted.
(Resolution 1)

2. Approval of appointment of auditors

RESOLVED that Deloitte & Touche and Deloitte & Touche LLP be and are hereby appointed as the independent external auditors of the Company until the next Annual General Meeting and that the Directors be and are hereby authorized to fix their remuneration for the financial year ended December 31, 2021.
(Resolution 2)

3. Approval of Directors’ remuneration

RESOLVED that the remuneration of all of the Directors is hereby approved in an aggregate amount not exceeding US$350,000 in respect of their professional services to the Company until the conclusion of the next Annual General Meeting of the Company.
(Resolution 3)

4. Approval for authority to allot and issue shares

RESOLVED that pursuant to Section 161 of the Companies Act, Chapter 50 of Singapore ("Companies Act"), authority be and is hereby given to the Directors of the Company to:

(1) (a) issue ordinary shares in the Company ("Shares") whether by way of rights, bonus or otherwise; and/or

(b) make or grant offers, agreements or options (collectively, "Instruments") that might or would require Shares to be issued, including but not limited to the creation and issue of (as well as adjustments to) options, warrants, debentures or other instruments convertible into Shares, at any time and upon such terms and conditions and for such purposes and to such persons as the Directors may in their absolute discretion deem fit; and

(2) notwithstanding that the authority conferred by this Resolution may have ceased to be in force, issue Shares pursuant to any Instrument made or granted by the Directors while this Resolution was in force; and

(3) unless varied or revoked by the Company in general meeting, such authority conferred on the Directors of the Company shall continue in force:

(i) until the conclusion of the next Annual General Meeting of the Company or the date by which the next Annual General Meeting of the Company is required by law to be held whichever is earlier; or

(ii) in the case of Shares to be issued pursuant to the Instruments that are made or granted pursuant to this Resolution, until the issuance of such Shares in accordance with the terms of the Instruments.
(Resolution 4)

5. Approval for share purchase mandate

RESOLVED that:

(1) for the purposes of Sections 76C and 76E of the Companies Act, the exercise by the Directors of the Company of all the powers of the Company to purchase or otherwise acquire issued Shares not exceeding in aggregate the Maximum Limit (as hereafter defined), at such price or prices as may be determined by the Directors from time to time up to the Maximum Price (as hereafter defined), by way of market purchase(s) on The Nasdaq Stock Market ("Nasdaq") or off-market purchase(s) on one or more equal access schemes as may be determined by the Directors as they see fit, which scheme(s) shall satisfy all the conditions of the Companies Act, and otherwise be in accordance with all other laws and regulations and rules of Nasdaq as may be applicable, be and is hereby authorized and approved generally and unconditionally (the "Share Purchase Mandate");

(2) unless varied or revoked by the Company in a general meeting, the authority conferred on the Directors of the Company pursuant to the Share Purchase Mandate may be exercised by the Directors at any time and from time to time during the period commencing from the date of the passing of this Resolution and expiring on the earlier of:

(a) the date on which the next Annual General Meeting of the Company is held; and

(b) the date by which the next Annual General Meeting of the Company is required by law to be held;

(3) in this Resolution:

"Average Closing Price" means the average of the closing prices of a Share for the five consecutive trading days on which the Shares are traded on Nasdaq immediately preceding the date of market purchase by the Company or the date of making the offer pursuant to an equal access scheme, which price shall be adjusted in accordance with the listing rules of Nasdaq for any corporate action that occurs after the relevant five day period;

"Maximum Limit" means that number of issued Shares representing 10% of the total number of issued Shares as at the date of the passing of this Resolution (excluding any Shares that are held as treasury shares as at that date); and

"Maximum Price" means the purchase price (excluding brokerage, commission, applicable goods and services tax and other related expenses) that shall not exceed 105% of the Average Closing Price; and

(4) the Directors of the Company and/or any of them be and are hereby authorized to complete and do all such acts and things (including executing such documents as may be required) as they and/or he may consider expedient or necessary to give effect to the transactions contemplated and/or authorized by this Resolution.
(Resolution 5)

6. To transact any other business as may properly be transacted at an Annual General Meeting of the Company.

NOTES:

1. Shareholders are cordially invited to attend the Twenty-Second Annual General Meeting in person. Whether or not you plan to be at the Twenty- Second Annual General Meeting, you are urged to return your proxy. A shareholder entitled to attend and vote is entitled to appoint one or more proxies to attend and to vote instead of him.

2. Shareholders wishing to vote by proxy should complete the attached form.

3. The proxy form of an individual shareholder shall be signed either by the shareholder personally or by his attorney. The proxy form of a corporate shareholder shall be given either under its common seal or signed on its behalf by an attorney or a duly authorized officer of the corporate shareholder.

4. A proxy need not be a shareholder of the Company.

5. The proxy form (and if relevant, the original power of attorney, or other authority under which it is signed or a notarially certified copy of such power or authority) must be deposited at Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717, or the office of the Company, 8F, No. 22, Lane 407, Section 2, Tiding Boulevard, Taipei 114, Taiwan R.O.C., not less than 48 hours before the time for holding the Twenty-Second Annual General Meeting, that is by no later than 11 p.m. June 21, 2021 (New York time), or 11 a.m. June 22, 2021 (Taipei time), failing which the proxy shall not be treated as valid.

6. Electronic Delivery of Future Proxy Materials. Shareholders can consent to receiving all future proxy statements, proxy cards and annual reports electronically via e-mail or the internet. To sign up for electronic delivery, please follow the instructions below relating to "Electronic Delivery of Future Proxy Materials" and, when prompted, indicate that you agree to receive or access proxy materials electronically in future years.

7. Only shareholders of record at the close of business on April 23, 2021 are entitled to notice of and to vote at the Twenty- Second Annual General Meeting, or any adjournment or postponement of the Twenty- Second Annual General Meeting. If you have sold or transferred the Shares you hold in the Company to another person (the "Purchaser" or "Transferee") after April 23, 2021 and prior to the Twenty- Second Annual General Meeting, you should immediately forward this Notice and the attached proxy statement and proxy card to the Purchaser or Transferee of such Shares, or to the bank, broker, or agent through whom the sale of such Shares was effected, for onward transmission to the Purchaser or Transferee.

8. The Company intends to use internal sources of funds or external borrowings or a combination of both to finance the Company’s purchase or acquisition of Shares pursuant to the Share Purchase Mandate. The Directors do not propose to exercise the Share Purchase Mandate to such extent that it would materially and adversely affect the financial position of the Company and its subsidiaries. The amount of financing required for the Company to purchase or acquire its Shares, and the impact on the Company’s financial position, cannot be ascertained as at the date of this Notice as this will depend on the number of Shares purchased or acquired, the price at which such Shares were purchased or acquired and whether the Shares purchased or acquired would be held in treasury or cancelled.

BY ORDER OF THE BOARD

/s/ Cheng-Ming Huang

………………………………………..

Cheng-Ming Huang (aka James Huang)
Chairman of the Board and Chief Executive Officer

TABLE OF CONTENTS

NOTICE OF ANNUAL MEETING OF SHAREHOLDERS

PROXY STATEMENT

Questions and Answers about the Annual Meeting and Voting
Proposal 1
Proposal 2
Proposal 3
Proposal 4
Proposal 5

Other Matters
Proxy Solicitation

GigaMedia Limited
Incorporated in the Republic of Singapore
Registration No.: 199905474H

REGISTERED OFFICE
80 Robinson Road, #02-00
Singapore 068898

PROXY STATEMENT

QUESTIONS AND ANSWERS ABOUT THE ANNUAL MEETING AND VOTING

Why Did I Receive This Proxy Statement?

We sent you this proxy statement and the enclosed proxy card because the Company’s Board of Directors is soliciting your proxy to be used at the Company’s annual meeting of shareholders on June 24, 2021 at 8F, No.22, Lane 407, Sec.2, Tiding Blvd., Neihu District, Taipei, Taiwan, R.O.C., or at any adjournment or postponement of the meeting.

Who Can Vote?

You are entitled to vote if you owned the Shares on the record date ("Record Date"), which is the close of business on April 23, 2021. Each Share that you own entitles you to one vote.

How Many Shares of Voting Stock Are Outstanding?

On the Record Date, there were 11,052,235 Shares outstanding. The Shares are our only class of voting stock.

What May I Vote On?

  1. Adoption of Audited Financial Statements
  2. Approval of Appointment of Auditors
  3. Approval of Directors’ Remuneration
  4. Approval for Authority to Allot and Issue Shares
  5. Approval for Share Purchase Mandate

Other Business

How Do I Vote?

To vote by proxy, you should complete, sign and date the enclosed proxy card and return it promptly in the prepaid envelope provided.

How Do I Request Electronic Delivery of Future Proxy Materials?

If you would like to reduce the costs incurred by our company in mailing proxy materials, you can consent to receiving all future proxy statements, proxy cards and annual reports electronically via e-mail or the internet. To sign up for electronic delivery, please go to www.proxyvote.com to indicate that you agree to receive or access proxy materials electronically in future years.

May I Revoke My Proxy?

Your proxy may be revoked prior to its exercise by appropriate notice to us.

If I Plan To Attend The Meeting, Should I Still Vote By Proxy?

Whether you plan to attend the meeting or not, we urge you to vote by proxy. Returning the proxy card will not affect your right to attend the meeting, and your proxy will not be used if you are personally present at the meeting and inform the Secretary in writing prior to the voting that you wish to vote your Shares in person.

How Will My Proxy Get Voted?

If you properly fill in your proxy card and send it to us, your proxy holder (the individual named on your proxy card) will vote your Shares as you have directed. If you sign the proxy card but do not make specific choices, the proxy holder will vote your Shares as recommended by the Board of Directors and our management.

How Will Voting On Any Other Business Be Conducted?

Although we do not know of any business to be considered at the meeting other than the proposals described in this proxy statement, if any other business is presented at the meeting, your returned proxy gives authority to the proxy holder to vote on these matters in his discretion.

Proposal 1. ADOPTION OF AUDITED FINANCIAL STATEMENTS

The Company seeks shareholders’ adoption of the audited financial statements of the Company (the "Audited Financial Statements"), which have been prepared under Financial Reporting Standards in Singapore ("FRSs") , in respect of the financial year ended December 31, 2020. Along with the Audited Financial Statements, the Company seeks Shareholders’ adoption of the Statement by the Directors and Auditor’s Report of the Company in respect of the same financial year.

Adoption of this proposal requires the affirmative vote of a majority of the votes cast by shareholders entitled to vote at the Twenty- Second Annual General Meeting of the Company (the "AGM").

The Board of Directors of the Company (the "Board of Directors") recommends a vote FOR this proposal.

Proposal 2. APPROVAL OF APPOINTMENT OF AUDITORS

 The Company seeks Shareholders’ approval for the appointment of Deloitte & Touche and Deloitte & Touche LLP as the independent external auditors of the Company to hold such office until the conclusion of the next Annual General Meeting of the Company. The Board of Directors also seeks shareholders’ approval to authorize the Board of Directors to fix the remuneration for Deloitte & Touche and Deloitte & Touche LLP in respect of their services to the Company for the financial year ended December 31, 2021.

Adoption of this proposal requires the affirmative vote of a majority of the votes cast by shareholders entitled to vote at the AGM.

The Board of Directors recommends a vote FOR this proposal.

Proposal 3. APPROVAL OF DIRECTORS’ REMUNERATION

The Company seeks shareholders’ approval on the remuneration of all of the Directors in an aggregate amount not exceeding US$350,000 in respect of their professional services to the Company until the conclusion of the next Annual General Meeting of the Company.

Adoption of this proposal requires the affirmative vote of a majority of the votes cast by shareholders entitled to vote at the AGM.

The Company’s management recommends a vote FOR this proposal.

Proposal 4. APPROVAL FOR AUTHORITY TO ALLOT AND ISSUE SHARES

The Company is incorporated in Singapore. Under the Companies Act, Chapter 50 of Singapore (the "Companies Act"), the Directors may exercise any power of the Company to issue new Shares only with the prior approval of the shareholders of the Company at a general meeting. Such approval, if granted, is effective from the date of the general meeting at which the approval was given until the date on which the next Annual General Meeting of the Company is held or is required by law to be held, whichever is earlier.

Shareholders’ approval is sought to give Directors authority to allot and issue new Shares and other instruments convertible into Shares during the period from the Twenty-Second Annual General Meeting to the earlier of the next Annual General Meeting or the date by which the next Annual General Meeting of the Company is required by law to be held.

Adoption of this proposal requires the affirmative vote of a majority of the votes cast by shareholders entitled to vote at the AGM.

The Board of Directors recommends a vote FOR this proposal.

Proposal 5. APPROVAL FOR SHARE PURCHASE MANDATE

The approval of the Share Purchase Mandate authorizing the Company to purchase or acquire its Shares would give the Company the flexibility to undertake Share purchases or acquisitions at any time, subject to market conditions, during the period when the Share Purchase Mandate is in force.

In managing the business of the Company and its subsidiaries (collectively, the "Group"), the Company’s management strives to increase shareholders’ value by improving, inter alia, the return on equity of the Group. A Share purchase by the Company is one of the ways through which the return on equity of the Group may be enhanced.

A Share purchase is also an available option for the Company to return surplus cash that is in excess of the financial and possible investment needs of the Group to its shareholders. In addition, the Share Purchase Mandate will allow the Company to have greater flexibility over, inter alia, the Company’s share capital structure and its dividend policy. 

The Company intends to use internal sources of funds or external borrowings or a combination of both to finance the Company’s purchase or acquisition of the Shares pursuant to the Share Purchase Mandate. The Directors do not propose to exercise the Share Purchase Mandate to such extent that it would materially and adversely affect the financial position of the Group.

Share repurchase programmes may also help buffer short-term Share price volatility and off-set the effects of short-term speculators and investors and, in turn, bolster shareholder confidence and employee morale.

Adoption of this proposal requires the affirmative vote of a majority of the votes cast by shareholders entitled to vote at the AGM.

The Board of Directors recommends a vote FOR this proposal.

OTHER MATTERS

As of the date of this Proxy Statement, the Company does not intend to present and has not been informed that any other person intends to present any business not specified in this Proxy Statement for action at the Twenty- Second Annual General Meeting.

Shareholders are urged to sign the enclosed proxy form and to return it promptly in the enclosed envelope. Proxies will be voted in accordance with shareholders’ directions. Signing the proxy form does not affect a shareholder’s right to vote at the Twenty- Second Annual General Meeting, and the proxy may be revoked prior to its exercise by appropriate notice to the undersigned.

PROXY SOLICITATION

The Company will pay the cost of preparing and mailing this proxy statement and form of proxy to its shareholders. The Company has retained Mackenzie Partners, Inc. to request banks and brokers to forward copies of these materials to persons for whom they hold Shares and to request authority for execution of the proxies.

GIGAMEDIA LIMITED

/s/ Cheng-Ming Huang

………………………………………..

Cheng-Ming Huang (aka James Huang)

Chairman of the Board and Chief Executive Officer

Related Links :

http://www.gigamedia.com

Explore Puzzles & Conquest, A Light Strategy Match-3 Game, Alongside Its CG Trailer

GUANGZHOU, China, May 21, 2021 — Puzzles & Conquest, a widely acclaimed match-3 game published by 37GAMES, has recently revealed its official CG trailer. The game is a mix of tactical wargame elements with casual puzzle gameplay. Players start by building their own castles and match tiles to expand their territory. According to 37Games, Puzzles & Conquest is going to roll out a major update soon. Users can download it on the App Store and Google Play Store.

Players can play as a lord of their own dominion and join an epic quest to fight against the undead. To defeat the powerful Undead Lord, all the races have formed an alliance to combat this grave evil. Will players be able to save the world or succumb to the undead?

https://youtu.be/mAKOagP-1oE CG cinematic trailer
https://youtu.be/mAKOagP-1oE CG cinematic trailer

https://youtu.be/mAKOagP-1oE
CG cinematic trailer

Match-3 + Light Strategy

Classic casual puzzle gameplay meets epic heroes, amazing combos, and cool hero skills. Match tiles of identical elements to deal damage to enemies. Use hero skills to inflict critical damage and turn the tide in the battle.

Recruit Heroes For Free Daily

Players can easily collect and develop a variety of heroes, each with their own unique appearance, skills, and playstyles. Recruit heroes for free daily to build the strongest team the world has ever seen.

City Building Simulation

Build cities, train troops, research technologies… all in one game. Players can build their own castle, construct different buildings to help them manage their territory. Recruit, rise, and rule… Players can raise armies, forge kingdoms and finally be able to conquer the realm.

Light Strategy + Social Features

Players can initiate or join rallies and reinforce allies in battle. Nobody survives alone. Players can create or join an alliance, become an alliance leader to fight alongside their brethren and expand their territory step by step. Fun social features are waiting for you to explore!

It is said the hero "Flora Fairy" in the last update has received a lot of positive feedback. The developers have also confirmed that a wave of brand-new content and awesome events will soon arrive. It’s definitely worth a try. You can also follow the official Facebook fan page to be updated on the latest news, events, giveaways, and more.

 

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

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/

PLANET9 Facilitated Student-Run Ivy League Esports Tournament with Success

TAIPEI, Taiwan, April 25, 2021 — The annual Ivy League COVID-19 Charity Stream, a student-run esports tournament powered by PLANET9 serving to raise awareness and funds for the fight against COVID-19, concluded its second edition on April 24th with participation from esports clubs of all eight Ivy League universities. The best-of-1 double-elimination tournament ended with a best-of-3 grand finals, which saw Yale Undergraduate Esports Club defeating Cornell Esports in a clean 2-0 fashion. Yale asserted dominance throughout the whole tournament by going undefeated with a 5-0 overall record, granting them the champion title with no surprise. 

The annual Ivy League COVID-19 Charity Stream, a student-run esports tournament powered by PLANET9 serving to raise awareness and funds for the fight against COVID-19, concluded its second edition on April 24th with participation from esports clubs of all eight Ivy League universities.
The annual Ivy League COVID-19 Charity Stream, a student-run esports tournament powered by PLANET9 serving to raise awareness and funds for the fight against COVID-19, concluded its second edition on April 24th with participation from esports clubs of all eight Ivy League universities.

Popular League of Legends streamer and former pro Nemesis, in addition to other amazing Gen.G content creators, also appeared on stream interacting with viewers and analyzing their submitted highlight clips to enrich the content.

Eventually, the stream concluded with the raffle for donors sponsored by PLANET9, which included a Predator Triton 500 gaming notebook, Predator XB1 gaming monitor, and many more eye-catching prizes up for grabs.

With the Olympic Virtual Series as an example, the popularity and importance of esports is rising higher than ever. Following the success of the event, PLANET9 continues to actively look for more opportunities to engage with university students around the United States, and plans to host another League of Legends tournament similar to the PLANET9 University Invitational carried out last year in the United Kingdom.

PLANET9 is an all-in-one esports platform that helps gamers of all types find teams and tournaments to join, provides opportunities to practice and improve, and makes it easy to connect with like-minded players and coaches. For those who prefer watching, it’s also a great place to follow teams and keep up with the esports scene.  Those who want to join PLANET9 and explore more possibilities inside the gaming realm can click here to register.

Final standings of Ivy League Covid-19 Charity Stream:

1. Yale Undergraduate Esports Club

2. Cornell Esports

3. UPenn Esports Club

4. Columbia Esports

5-6. Brown Esports Team

5-6. Princeton Esports

7-8. Dartmouth Esports

7-8. Harvard Esports

Riva Technology and Entertainment signs brand licensing deal with Global toy giant MGA Entertainment

LOS ANGELES, April 12, 2021 — Riva Technology and Entertainment (RTE) announced that they have signed multiple brand licensing deals with toy industry leader, MGA Entertainment (MGAE), to develop and publish mobile games based on the global toy company’s hit properties L.O.L. Surprise!™ and Rainbow High™.

Riva Technology and Entertainment signs brand licensing deal with Global toy giant MGA Entertainment
Riva Technology and Entertainment signs brand licensing deal with Global toy giant MGA Entertainment

RTE are veterans in the gaming and IP business, having built gaming companies for over 20 years, along with securing and developing top licensing deals ranging from Hollywood, Bollywood, Sports and all the way to the world’s leading brands.

MGA Entertainment’s L.O.L. Surprise!™ is a global phenomenon, winning the prestigious "Toy of the Year" Award for three years. MGA’s newly launched Rainbow High debuted in 2020 and has already become a cultural phenomenon with a presence across product, content and integrated digital media.

The global gaming market valued at USD $162.32 billion in 2020 and expected to reach USD $295.63 billion by 2026. Mobile gaming generated $13.2 billion U.S. dollars in revenue in 2019.

"MGA boasts a diversified portfolio of leading brands, and they build fantastic award-winning toys. Our vision of bridging the world of mobile gaming with consumer products and the toy culture is strongly aligned. I admire them for their consistent growth over the years and the incredible efforts they have accomplished, creating a universe that each of their collections represents. RTE always strive to associate with the biggest and the best and MGAE is certainly that. Details of the upcoming games will be announced soon," said RTE CEO & Founder, Paul Roy.

Isaac Larian, CEO and Founder of MGA Entertainment adds: "We are delighted to partner with RTE who has a proven track record for working with the biggest IPs and delivering top quality results. Our digitally native fans want to experience our award-winning brands across all platforms and mobile gaming is a strategic focus for us in 2021 and beyond. It is MGA’s goal to expand both digital gaming and NFTs in a significant way."

About RTE: 
Founded in 2002, with a global presence from the USA to East Asia, RTE has successfully been delivering the vision of tomorrow for close to 20 years. RTE holds an industry advantage in their ability to take every project from concept to execution; all under one roof. The complementary companies cover location-based entertainment, brand and IP licensing, content, consumer products, gaming & esports.

 

Kingdom Heroes M pre-register exceeds 500,000, officially launched on 4/15

NEW TAIPEI CITY, Taiwan, April 2, 2021 — The first brand of the genuine mobile game "Three Kingdoms Heroes M" is officially announced that the pre-register has rapidly exceeded 500,000 people. In order to thank the players for their support, the USERJOY official has held the pre-register event. As long as pre-register before the game is launched on April 15th, players can participate in the iPhone12 draw activity.

Kingdom Heroes M pre-register exceeds 500,000, officially launched on 4/15
Kingdom Heroes M pre-register exceeds 500,000, officially launched on 4/15

The "Three Kingdoms Heroes" game brand has been in business for 24 years, and the game has swept over hundreds of millions of Asian people. Now, the global version of the "Three Kingdoms Heroes M" mobile game, which inherits the essential State War in the original PC version, is going to be launched at the same time in Singapore, Malaysia, Indonesia, and Thailand. Since the opening of pre-register, the popularity of the game has risen incredibly. In order to respond to the enthusiasm of players, they have held the pre-register event that players can obtain exclusive rewards and a chance to win iPhone 12 after the game is launched. Officials stated that they are making every effort to prepare the "Three Kingdoms Heroes M" listing plan, which is expected to be officially launched on April 15. Please stay tuned.

For more information, please visit:

[Official website] https://sgc.userjoy.com/
[Pre-register page] https://sgc.userjoy.com/event/khm_preregister/index.php
[Google Play] https://play.google.com/store/apps/details?id=com.userjoy.sgc.sea
[App Store] https://apps.apple.com/app/id1529559020
[Official Fanpage] https://www.facebook.com/KingdomHeroesM
[Official Instagram] https://www.instagram.com/kingdomheroesm/

 

Tencent Cloud Supports Japan’s Cloud Gaming Platform “OOParts” to Win the Game

Trusted with Tencent’s advanced cloud technology, OOParts is now able to offer gamers the best cloud game experience with ultra-low latency and stable network

TOKYO, March 15, 2021 — Cloud gaming, which allows video games to be run on remote servers and delivered directly to gamers, is an emerging trend in the video game industry. With its all-round solutions and capabilities, Tencent Cloud is helping cloud gaming platform "OOParts" in Japan capitalize on cloud technology, making it benefit from its low latency environment, high-quality node resources and industry-leading network. This ensures that gamers enjoy a seamless, high performance and hassle-free game experience.

OOParts is a subscription-based visual novel (VN) streaming service launched by Black Inc., a Japanese company that is focused on cloud-based gaming and has been converting different classic games into cloud games within a short period of time. OOParts features over 100 titles including "Grisaia: Phantom Trigger" where members can play directly from their PC and mobile devices (Android, Windows, IOS or MacOS) without the need to install games or save files.

As cloud gaming puts computing logic and rendering in the cloud and streams the video frame to users in real time, it is essential that latency is kept to a minimum to ensure the best possible video game experience. With Tencent Real-Time Communications (TRTC) solutions, OOParts can ensure ultra-low latency, enabling stable real-time and video streaming while dealing with multiple operating systems in a highly cost-effective way. TRTC offers low-latency interactive live streaming solutions with the following strengths:

  • High Cross-Platform Compatibility: TRTC provides video solutions that can be directly implemented on PC, Mac and mobile devices through SDK integration.
  • Stable Network Communication: TRTC offers a global average end-to-end latency of less than 300ms. Even when the packet loss rate exceeds 40% and the network jitter goes over 1,000ms, TRTC can still guarantee high-quality, smooth and stable audio and video communications despite a weak network environment.  

"We are excited to support OOParts to overcome their challenges, adding another success into Tencent Cloud’s achievements in helping Japanese businesses to digitally transform", said Poshu Yeung, Senior Vice President, Tencent Cloud International. "The growth of the cloud gaming market globally is unprecedented. Along with this growth comes the expanding needs of video game developers and providers, which Tencent Cloud aims to fully cover leveraging our deep expertise and experience in cloud solutions and cloud technology for video game and entertainment industries."

Futa Ogawa, Black Inc. Founder & CEO, said, "We know that Tencent is trusted by game developers around the world and had already achieved numerous significant achievements in the industry. Therefore, we are glad to leverage Tencent Cloud to improve our platform cost effectively. Our platform is well-received by users thanks to TRTC’s low-latency and high cross-platform compatibility that supports various devices including PC, MacOS and Android devices, taking our platform to the next level. Tencent Cloud’s prompt customer support is also impressive, with which we are able to work hand-in-hand to tackle technical difficulties such as isolating defects and verifying video delays."

Tencent Cloud is a secure, reliable and high-performance public cloud service provider that empowers global access and a rich array of services to governments and organizations that need advanced infrastructure and a resilient environment. As a strong testimony to Tencent Cloud’s top-notch security standard and competitive services in the global cloud computing industry, Tencent Cloud was named Frost & Sullivan’s 2020 Best Practice Competitive Strategy Leadership Award in Global Cloud Industry. It has also earned international certifications, including but not limited to ISO22301, ISO27001, ISO20000, ISO9001, Trusted Cloud Services, CSA STAR, and the Multi-Tier Cloud Security Standard (MTCS SS).

About Tencent Cloud

Tencent Cloud is Tencent’s cloud services brand, providing industry-leading cloud products and services to organizations and enterprises across the world. Leveraging its robust data center infrastructures around the world, Tencent integrates cloud computing, big data analytics, AI, Internet of Things, security and other advanced technologies with smart enterprise scenarios. At the same time, we provide a holistic smart enterprise solution for sectors including finance, education, healthcare, retail, industry, transport, energy and radio & television.