Tag Archives: ITE

PR Newswire

Huawei Launches the MiniFTTO Solution, Dedicated for Small and Micro Campuses

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BANGKOK, Sept. 23, 2022 /PRNewswire/ — Recently, at HUAWEI CONNECT 2022, Huawei hosted the “F5G Industry Practice, Building New-Gen Connectivity” Summit, where Huawei launched the MiniFTTO solution for small and micro campus scenarios. Huawei works with partners to bring optimal experience to small and micro enterprises, commercial villas, kindergartens, community clinics and convenience stores.

Zhou Tao, Director, Huawei Enterprise Optical Product Marketing & Solution Sales Dept, said, “In 2020, we released the FTTO (Fiber To The Office) solution, which is mainly used in office campuses, hospitals, hotels, and universities. In just two years, we have more than 6000 application cases worldwide. Today, we officially launch the Huawei MiniFTTO solution to provide high-quality campus networks for small and micro campuses, with the purpose of enabling more small and micro campuses to enjoy benefits of all optical technology development.”

Zhou Tao, Director, Huawei Enterprise Optical Product Marketing & Solution Sales Dept launched Huawei MiniFTTO solution
Zhou Tao, Director, Huawei Enterprise Optical Product Marketing & Solution Sales Dept launched Huawei MiniFTTO solution

The Huawei MiniFTTO solution is customized for small and micro campuses. It is applicable to small and micro enterprises, commercial villas, kindergartens, clinics, and convenience stores. The Huawei MiniFTTO solution is based on F5G (fifth-generation fixed communications network) technology and uses fiber as the communication medium, featuring simplified deployment, easy O&M, and superior experience.

Superior experience: The Huawei MiniFTTO solution provides an innovative five-in-one main gateway, providing downlink 2.5 Gbit/s bandwidth and supporting 300 connections on the entire network. The solution provides gigabit speeds in both wired and wireless modes, making gigabit available anywhere. Wall plate and indoor settled optical APs support Wi-Fi 6 and provide 10 Mbit/s bandwidth for 32 devices, delivering gigabit wireless access with performance 14% higher than the industry average. Desktop, panel, and box-type optical terminals provide wired gigabit access.

Simplified Deployment: Huawei’s innovative highly integrated five-in-one gateway integrates firewall, router, AC, single-fiber networking, and centralized power supply capabilities, reducing equipment deployment space by 85%. To address the difficulties in powering optical terminals in small and micro campus networks, Huawei innovatively introduces the power over fiber (PoF) technology, which integrates the fiber and power cable into one cable to provide remote power for optical terminals in plug-and-play mode.

Easy O&M: The Huawei MiniFTTO solution supports web-based management for one-click fault locating and Wi-Fi optimization by regular technicians without the need for professional skills.

More details about MiniFTTO Solution, please visit: https://e.huawei.com/en/solutions/enterprise-transmission-access/all-optical-campus-distribution

PR Newswire

Huawei Releases the Striding Towards the Intelligent World – Data Storage White Paper

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BANGKOK, Sept. 23, 2022 /PRNewswire/ — At HUAWEI CONNECT 2022, David Wang, Huawei’s Executive Director of the Board and Chairman of ICT Infrastructure Managing Board, released a series of white papers entitled Striding Towards the Intelligent World.

Digitalization is just the beginning if we look at the global progress. It is expected that over the next decade, enterprises of all sizes will experience complications during their digital transformation (DX) journey. IT data applications will become more diversified, and increasing volumes of application data will be processed by the production systems, meaning the need for reliable, performant, cost-effective data storage is more important than ever.

For this reason, the Striding Towards the Intelligent World – Data Storage white paper presents Huawei’s outlook for the storage evolution in enterprise data centers. Covering 9 topics, it provides enterprise customers with recommendations on data infrastructure development to jointly foster the data storage industry.

Outlook I: Unstructured Data

Unstructured data accounts for more than 80% of new enterprise data and is increasingly important to production and decision-making. It is necessary for enterprise IT teams to transform their structured data-centric capabilities to design, planning, and management of mass unstructured data.

Outlook II: Diverse Data Applications

Diverse data applications such as distributed databases, big data analytics, and AI are booming. Enterprises are encouraged to use the decoupled storage-compute architecture to serve emerging data applications for higher reliability. In addition, acceleration engines can be built for diverse data applications to implement near-data processing that delivers higher efficiency.

Outlook III: All-Scenario Inclusive All-Flash

All-flash storage accounts for more than 50% of the primary storage market, and the era of inclusive flash storage is coming. Huawei recommends that enterprises seize storage replacement and deployment opportunities to accelerate the adoption of all-flash storage.

Outlook IV: Ransomware Protection

Ransomware attacks are becoming the most significant threat to enterprises. Their storage teams are advised to establish a more comprehensive data protection system and build an all-round ransomware protection storage solution to strengthen the last line of defense for data protection.

Outlook V: Digital Resilience

As data is becoming the core asset for enterprises, digital resilience is a major metric for any enterprise resilience framework. Enterprises should strengthen data protection to ensure zero data leakage, tampering, and loss, always-on services, and always compliant access, thus enhancing digital resilience.

Outlook VI: AI-Powered Storage

From management to products, AI powers autonomous-driving storage throughout the data lifecycle. It is recommended that enterprises proactively develop evaluation criteria for storage AI management software, and storage management teams upgrade tech stacks for storage AI.

Outlook VII: Multi-Cloud Architecture

As multicloud becomes the new normal, the recommended practice is to migrate innovative services that have uncertainties and emerging services like OA to public clouds, while retaining core services in their on-premises data centers. In multi-cloud construction, enterprises are advised to use the IT architecture that centrally stores and shares data and deploys applications in multiple clouds, and plan a unified data management platform across clouds to maximize data sharing.

Outlook VIII: Storage Business Models

A flexible storage business model helps handle explosive data volumes and economic uncertainties. Huawei recommends that enterprises plan how to obtain IT resources and select the most appropriate business model according to business requirements and future strategies.

Outlook IX: Energy Saving

Green data storage is a must for data centers to reach net-zero carbon emissions. Enterprises can deploy storage products with high-density designs, system convergence, and efficient data reduction to further reduce data center energy consumption.

For more details, please click: https://www.huawei.com/en/giv/industries/data-storage


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Trip.com Group Limited Reports Unaudited Second Quarter and First Half of 2022 Financial Results

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SHANGHAI, Sept. 22, 2022 /PRNewswire/ — Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) (“Trip.com Group” or the “Company”), a leading one-stop travel service provider of accommodation reservation, transportation ticketing, packaged tours and corporate travel management, today announced its unaudited financial results for the second quarter and first half of 2022.

Key Highlights for the Second Quarter of 2022

The Company delivered resilient results in the second quarter despite the continued disruptions resulting from the COVID-19 resurgence in China.

  • Net income for the second quarter was RMB43 million (US$6 million), which improved from net loss of RMB1.0 billion for the previous quarter.
  • Adjusted EBITDA for the second quarter was RMB355 million (US$53 million), representing a 290% increase from RMB91 million for the previous quarter,
  • Staycation travel continued to serve as a major contributor to the recovery of the Chinese domestic market, with local hotel bookings increasing by over 30% compared to the same period in 2019.
  • Both air-ticket and hotel bookings on global platforms increased over 100% year over year in the second quarter.

“In the second quarter, the global travel industry has made continued progress towards full recovery. The recovery momentum in Europe and the United States remained robust, and the rebound of travel activities in the Asia-Pacific region also sped up due to further relaxation of travel restrictions,” said James Liang, Executive Chairman. “With our product innovation and service enhancement, we are confident in further strengthening our competitive position and capturing the pent-up demand. “

“Despite the challenges in the China domestic market in the first two months of the second quarter, the fundamental demand for travel remained solid. We are delighted to see the domestic hotel bookings quickly bouncing back to the pre-pandemic level at the end of the second quarter with such momentum extended into the following months.” said Jane Sun, Chief Executive Officer. “We will continue to improve our operating efficiency and conduct prudent cost control in the face of the changing environment. All these efforts will enable us to remain flexible and pave the way for long-term growth.”

Second Quarter of 2022 Financial Results and Business Updates

In the second quarter of 2022, the COVID-19 resurgence continued to disrupt the travel industry in China, which discouraged user demand for the Company’s services. As a result, the Company’s results of operations for the second quarter of 2022 were materially and adversely affected.

For the second quarter of 2022, Trip.com Group reported net revenue of RMB4.0 billion (US$598 million), representing a 32% decrease from the same period in 2021 and a 2% decrease from the previous quarter, primarily due to the continued disruptions resulting from the COVID-19 resurgence in China.

Accommodation reservation revenue for the second quarter of 2022 was RMB1.4 billion (US$203 million), representing a 45% decrease from the same period in 2021 and a 6% decrease from the previous quarter, primarily due to the continued disruptions resulting from the COVID-19 resurgence in China.

Transportation ticketing revenue for the second quarter of 2022 was RMB1.8 billion (US$263 million), representing a 15% decrease from the same period in 2021, primarily due to the continued disruptions resulting from the COVID-19 resurgence in China. Transportation ticketing revenue increased by 6% from the previous quarter, primarily driven by strong recovery of air travel in the overseas market.

Packaged-tour revenue for the second quarter of 2022 was RMB122 million (US$18 million), representing a 67% decrease from the same period in 2021 and a 2% decrease from the previous quarter, primarily due to the continued disruptions resulting from the COVID-19 resurgence in China.

Corporate travel revenue for the second quarter of 2022 was RMB210 million (US$31 million), representing a 46% decrease from the same period in 2021 and a 5% decrease from the previous quarter, primarily due to the continued disruptions resulting from the COVID-19 resurgence in China.

Cost of revenue for the second quarter of 2022 was RMB976 million (US$146 million), representing a 20% decrease from the same period in 2021, which was in line with the decrease in net revenue. Cost of revenue decreased by 9% from the previous quarter. Cost of revenue as a percentage of net revenue was 24% for the second quarter of 2022.

Product development expenses for the second quarter of 2022 decreased by 20% to RMB1.8 billion (US$264 million) from the same period in 2021 and decreased by 10% from the previous quarter, primarily due to a decrease in product development personnel related expenses. Product development expenses as a percentage of net revenue was 44% for the second quarter of 2022.

Sales and marketing expenses for the second quarter of 2022 decreased by 41% to RMB826 million (US$123 million) from the same period in 2021 and decreased by 2% from the previous quarter, primarily due to a decrease in expenses relating to sales and marketing promotion activities. Sales and marketing expenses as a percentage of net revenue was 21% for the second quarter of 2022.

General and administrative expenses for the second quarter of 2022 decreased by 15% to RMB604 million (US$90 million) from the same period in 2021, primarily due to a decrease in general and administrative personnel related expenses. General and administrative expenses increased by 3% from the previous quarter. General and administrative expenses as a percentage of net revenue was 15% for the second quarter of 2022.

Income tax expense for the second quarter of 2022 was RMB173 million (US$26 million), compared to income tax expense of RMB97 million for the same period in 2021 and income tax benefit of RMB14 million in the previous quarter. The change in Trip.com Group’s effective tax rate was primarily due to the combined impacts of changes in respective profitability of its subsidiaries with different tax rates, certain non-taxable income or loss resulting from the fair value changes in equity securities investments and exchangeable senior notes, and changes in valuation allowance provided for deferred tax assets.

Net income for the second quarter of 2022 was RMB43 million (US$6 million), compared to net loss of RMB659 million for the same period in 2021 and net loss of RMB1 billion for the previous quarter. Adjusted EBITDA for the second quarter of 2022 was RMB355 million (US$53 million), compared to RMB916 million for the same period in 2021 and RMB91 million for the previous quarter. Adjusted EBITDA margin was 9% for the second quarter of 2022, compared to 16% for the same period in 2021 and 2% for the previous quarter.

Net income attributable to Trip.com Group’s shareholders for the second quarter of 2022 was RMB69 million (US$10 million), compared to net loss attributable to Trip.com Group’s shareholders of RMB647 million for the same period in 2021 and net loss attributable to Trip.com Group’s shareholders of RMB989 million for the previous quarter. Excluding share-based compensation charges, fair value changes of equity securities investments and exchangeable senior notes recorded in other income/(expense) and their tax effects, non-GAAP net loss attributable to Trip.com Group’s shareholders was RMB203 million (US$31 million), compared to non-GAAP net income attributable to Trip.com Group’s shareholders of RMB728 million in the same period in 2021 and non-GAAP net loss attributable to Trip.com Group’s shareholders of RMB36 million for the previous quarter.

Diluted income per ordinary share and per ADS was RMB0.10 (US$0.01) for the second quarter of 2022. Excluding share-based compensation charges, fair value changes of equity securities investments and exchangeable senior notes and their tax effects, non-GAAP diluted loss per ordinary share and per ADS was RMB0.31 (US$0.05) for the second quarter of 2022. Each ADS currently represents one ordinary share of the Company.

As of June 30, 2022, the balance of cash and cash equivalents, restricted cash, short-term investment, held to maturity time deposit and financial products was RMB65.6 billion (US$9.8 billion).

Conference Call

Trip.com Group’s management team will host a conference call at 8:00 PM EST on September 21, 2022 (or 8:00 AM CST on September 22, 2022) following this announcement.

The conference call will be available live on Webcast and for replay at: https://investors.trip.com. The call will be archived for twelve months on our website.

All participants must pre-register to join this conference call using the Participant Registration link below:

https://register.vevent.com/register/BIe6a1088f8c3f4a77a18a7d5b03d2bc2e

Upon registration, each participant will receive details for this conference call, including dial-in numbers and a unique access PIN. To join the conference, please dial the number provided, enter your PIN, and you will join the conference instantly.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “future,” “intend,” “plan,” “believe,” “estimate,” “is/are likely to,” “confident” or other similar statements. Among other things, quotations from management in this press release, as well as Trip.com Group’s strategic and operational plans, contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, severe or prolonged downturn in the global or Chinese economy, general declines or disruptions in the travel industry, the impact of COVID-19 pandemic to Trip.com Group’s business operations, volatility in the trading price of Trip.com Group’s ADSs or shares, Trip.com Group’s reliance on its relationships and contractual arrangements with travel suppliers and strategic alliances, failure to compete against new and existing competitors, failure to successfully manage current growth and potential future growth, risks associated with any strategic investments or acquisitions, seasonality in the travel industry in the relevant jurisdictions where Trip.com Group operates, failure to successfully develop Trip.com Group’s existing or future business lines, damage to or failure of Trip.com Group’s infrastructure and technology, loss of services of Trip.com Group’s key executives, adverse changes in economic and political policies of the PRC government, inflation in China, risks and uncertainties associated with PRC laws and regulations with respect to the ownership structure of Trip.com Group’s affiliated Chinese entities and the contractual arrangements among Trip.com Group, its affiliated Chinese entities and their shareholders, and other risks outlined in Trip.com Group’s filings with the U.S. Securities and Exchange Commission or the Stock Exchange of Hong Kong Limited. All information provided in this press release and in the attachments is as of the date of the issuance, and Trip.com Group does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

About Non-GAAP Financial Measures

To supplement Trip.com Group’s unaudited condensed consolidated financial statements presented in accordance with United States Generally Accepted Accounting Principles (“GAAP”), Trip.com Group uses non-GAAP financial information related to adjusted net income attributable to Trip.com Group Limited, adjusted EBITDA, adjusted EBITDA margin and adjusted diluted earnings per ordinary share and per ADS, each of which is adjusted from the most comparable GAAP result to exclude the share-based compensation charges that are not tax deductible and fair value changes of equity securities investments and exchangeable senior notes, net of tax. Trip.com Group’s management believes the non-GAAP financial measures facilitate better understanding of operating results from quarter to quarter and provide management with a better capability to plan and forecast future periods.

Non-GAAP information is not prepared in accordance with GAAP, does not have a standardized meaning under GAAP, and may be different from non-GAAP methods of accounting and reporting used by other companies. The presentation of this additional information should not be considered a substitute for GAAP results. A limitation of using non-GAAP financial measures is that non-GAAP measures exclude share-based compensation charges, fair value changes of equity securities investments and exchangeable senior notes and their tax effects that have been and will continue to be significant recurring expenses in Trip.com Group’s business for the foreseeable future.

Reconciliations of Trip.com Group’s non-GAAP financial data to the most comparable GAAP data included in the consolidated statement of operations are included at the end of this press release.

About Trip.com Group Limited

Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) is a leading global one-stop travel platform, integrating a comprehensive suite of travel products and services and differentiated travel content. It is the go-to destination for travelers in China, and increasingly for travelers around the world, to explore travel, get inspired, make informed and cost-effective travel bookings, enjoy hassle-free on-the-go support, and share travel experience. Founded in 1999 and listed on Nasdaq in 2003 and HKEX in 2021, the Company currently operates under a portfolio of brands, including Ctrip, Qunar, Trip.com and Skyscanner, with the mission “to pursue the perfect trip for a better world.”

For further information, please contact:

Investor Relations

Trip.com Group Limited
Tel: +86 (21) 3406-4880 X 12229
Email: iremail@trip.com

Trip.com Group Limited

Unaudited Consolidated Balance Sheets

(In millions, except share and per share data)

December 31, 2021

June 30, 2022

June 30, 2022

RMB (million)

RMB (million)

USD (million)

ASSETS

Current assets:

Cash, cash equivalents and restricted cash

21,196

22,959

3,427

Short-term investments

29,566

30,721

4,587

Accounts receivable, net 

4,649

5,445

813

Prepayments and other current assets 

10,697

10,778

1,609

Total current assets

66,108

69,903

10,436

Property, equipment and software

5,534

5,307

792

Intangible assets and land use rights

13,046

12,929

1,931

Right-of-use assets

777

925

138

Investments (Includes held to maturity time deposit and
financial products of RMB13,112 million and RMB11,891
million as of December 31,2021 and June 30, 2022,
respectively)

44,961

44,075

6,580

Goodwill

59,353

59,326

8,857

Other long-term assets

396

398

60

Deferred tax asset

1,684

1,765

263

Total assets

191,859

194,628

29,057

LIABILITIES

Current liabilities:

Short-term debt and current portion of long-term debt

39,866

36,203

5,405

Accounts payable

6,019

6,745

1,007

Advances from customers

7,535

7,822

1,168

Other current liabilities

12,798

11,926

1,781

Total current liabilities

66,218

62,696

9,361

Deferred tax liability

3,527

3,491

521

Long-term debt

11,093

17,402

2,598

Long-term lease liability

400

591

88

Other long-term liabilities

165

170

25

Total liabilities

81,403

84,350

12,593

SHAREHOLDERS’ EQUITY

Total Trip.com Group Limited shareholders’ equity

109,677

109,542

16,354

Non-controlling interests

779

736

110

Total shareholders’ equity

110,456

110,278

16,464

Total liabilities and shareholders’ equity

191,859

194,628

29,057

Trip.com Group Limited

Unaudited Consolidated Statements of Income/(Loss)

(In millions, except share and per share data)

Three Months Ended

Six Months Ended

June 30, 2021

March 31, 2022

June 30, 2022

June 30, 2022

June 30, 2021

June 30, 2022

June 30, 2022

RMB (million)

RMB (million)

RMB (million)

USD (million)

RMB (million)

RMB (million)

USD (million)

Revenue:

Accommodation reservation 

2,455

1,450

1,357

203

4,035

2,807

419

Transportation ticketing 

2,066

1,663

1,763

263

3,572

3,426

512

Packaged-tour 

367

124

122

18

536

246

37

Corporate travel

390

222

210

31

642

432

64

Others

614

652

564

84

1,216

1,216

181

Total revenue

5,892

4,111

4,016

599

10,001

8,127

1,213

Less: Sales tax and surcharges

(2)

(2)

(5)

(1)

(3)

(7)

(1)

Net revenue

5,890

4,109

4,011

598

9,998

8,120

1,212

Cost of revenue

(1,223)

(1,067)

(976)

(146)

(2,257)

(2,043)

(305)

Gross profit

4,667

3,042

3,035

452

7,741

6,077

907

Operating expenses:

Product development *

(2,226)

(1,974)

(1,772)

(264)

(4,451)

(3,746)

(559)

Sales and marketing *

(1,402)

(843)

(826)

(123)

(2,354)

(1,669)

(249)

General and administrative *

(713)

(584)

(604)

(90)

(1,397)

(1,188)

(178)

Total operating expenses

(4,341)

(3,401)

(3,202)

(477)

(8,202)

(6,603)

(986)

Income/(Loss) from operations

326

(359)

(167)

(25)

(461)

(526)

(79)

Interest income 

472

591

544

81

890

1,135

169

Interest expense

(418)

(341)

(351)

(52)

(825)

(692)

(103)

Other (expense)/income

(848)

(707)

469

70

1,660

(238)

(35)

(Loss)/Income before income tax
expense and equity in income of
affiliates

(468)

(816)

495

74

1,264

(321)

(48)

Income tax (expense)/benefit

(97)

14

(173)

(26)

(138)

(159)

(24)

Equity in loss of affiliates

(94)

(199)

(279)

(42)

(20)

(478)

(71)

Net (loss)/income

(659)

(1,001)

43

6

1,106

(958)

(143)

Net loss attributable to non-controlling interests

12

12

26

4

27

38

6

Net (loss)/income attributable to
Trip.com Group Limited

(647)

(989)

69

10

1,133

(920)

(137)

(Losses)/Earnings per ordinary share

– Basic

(1.02)

(1.52)

0.10

0.01

1.76

(1.42)

(0.21)

– Diluted

(1.02)

(1.52)

0.10

0.01

1.73

(1.42)

(0.21)

(Losses)/Earnings per ADS

– Basic

(1.02)

(1.52)

0.10

0.01

1.76

(1.42)

(0.21)

– Diluted

(1.02)

(1.52)

0.10

0.01

1.73

(1.42)

(0.21)

Weighted average ordinary shares outstanding

– Basic

635,476,056

647,812,835

647,866,001

647,866,001

644,666,248

647,843,829

647,843,829

– Diluted

635,476,056

647,812,835

650,906,465

650,906,465

656,483,984

647,843,829

647,843,829

* Share-based compensation included in Operating expenses above is as follows:

  Product development 

181

107

146

22

332

253

38

  Sales and marketing 

34

18

28

4

56

46

7

  General and administrative 

151

98

130

19

272

228

34

Trip.com Group Limited

Unaudited reconciliation of  GAAP and Non-GAAP Results

(In millions, except % and per share data)

Three Months Ended

Six Months Ended

June 30, 2021

March 31, 2022

June 30, 2022

June 30, 2022

June 30, 2021

June 30, 2022

June 30, 2022

RMB (million)

RMB (million)

RMB (million)

USD (million)

RMB (million)

RMB (million)

USD (million)

Net (loss)/income

(659)

(1,001)

43

6

1,106

(958)

(143)

Less: Interest income

(472)

(591)

(544)

(81)

(890)

(1,135)

(169)

Add: Interest expense

418

341

351

52

825

692

103

Add: Other expense/(income)

848

707

(469)

(70)

(1,660)

238

35

Add: Income tax expense/(benefit)

97

(14)

173

26

138

159

24

Add: Equity in loss of affiliates

94

199

279

42

20

478

71

Income/(Loss) from operations

326

(359)

(167)

(25)

(461)

(526)

(79)

Add: Share-based compensation

366

223

304

45

660

527

79

Add: Depreciation and amortization

224

227

218

33

501

445

66

Adjusted EBITDA

916

91

355

53

700

446

66

Adjusted EBITDA margin

16 %

2 %

9 %

9 %

7 %

5 %

5 %

Net (loss)/income attributable to Trip.com Group Limited

(647)

(989)

69

10

1,133

(920)

(137)

Add: Share-based compensation

366

223

304

45

660

527

79

Add: Loss/(Gain) from fair value changes of equity securities investments
and exchangeable senior notes

1,053

785

(668)

(100)

(1,314)

117

17

Add: Tax effects on fair value changes of equity securities investments and
exchangeable senior notes

(44)

(55)

92

14

45

37

6

Non-GAAP net income/(loss) attributable to Trip.com Group Limited

728

(36)

(203)

(31)

524

(239)

(35)

Weighted average ordinary shares outstanding- Diluted-non GAAP 

645,021,131

647,812,835

647,866,001

647,866,001

656,483,984

647,843,829

647,843,829

Non-GAAP Diluted income/(losses) per share

1.13

(0.06)

(0.31)

(0.05)

0.80

(0.37)

(0.06)

Non-GAAP Diluted income/(losses) per ADS

1.13

(0.06)

(0.31)

(0.05)

0.80

(0.37)

(0.06)

Notes for all the condensed consolidated financial schedules presented:

Note 1: The conversion of Renminbi (RMB) into U.S. dollars (USD) is based on the certified exchange rate of USD1.00=RMB6.6981 on June 30, 2022 published by the Federal Reserve Board.

Cision View original content:https://www.prnewswire.com/news-releases/tripcom-group-limited-reports-unaudited-second-quarter-and-first-half-of-2022-financial-results-301629661.html

PR Newswire

Jacqueline Shi: Huawei Cloud Stresses “By Local, For Local” to Drive Digital Transformation

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BANGKOK, Sept. 20, 2022 /PRNewswire/ — On September 19, HUAWEI CONNECT 2022 kicked off in Bangkok, Thailand. Jacqueline Shi, President of Huawei Cloud’s Global Marketing and Sales Service, stressed Huawei Cloud’s commitment to the goal of “By Local, For Local” in fostering a strong ecosystem for digitalization. Huawei Cloud believes that it is only when the local ecosystem grows, can digital transformation grow, and in a healthy and sustainable way.

Jacqueline Shi, President of Huawei Cloud's Global Marketing and Sales Service
Jacqueline Shi, President of Huawei Cloud’s Global Marketing and Sales Service

Huawei Cloud continues to provide leading digital technologies for users around the world, enabling enterprises and developers to better achieve digital development. To better provide local services, Huawei Cloud continues to build one global network to deliver high-quality cloud services with consistent experience. In the Asia Pacific since 2018, Huawei Cloud has operated local nodes in Singapore and Malaysia, and is the first public cloud provider to do so in Thailand. Huawei Cloud builds 3AZ data centers in Bangkok, Chonburi, and Samut Prakan, and provides website and consulting services in Thai.

In addition, Huawei Cloud and partners build a digital industry ecosystem by all and for all. Huawei Cloud works tirelessly to build a global startup ecosystem. Multiple forms of enablement, such as cost optimization, technical support, entrepreneurship training, and business resources will empower at least 10,000 high-potential startups worldwide in the next three years, helping startups move to the cloud agilely and focus on innovation.

In the Asia Pacific alone, more than 120 enterprises have joined the Huawei Cloud Startup Program. For example, Huawei Cloud helped ReverseAds expand its business in Thailand, Singapore, and South America. Through this program, ReverseAds has received financing of more than USD20 million. “We will further promote the startup program to the world. We hope that more and more enterprises like ReverseAds can innovate and achieve win-win,” said Ms. Shi.

At HUAWEI CONNECT 2022, Huawei Cloud also released the “Go Cloud, Go Global” ecosystem plan to share Huawei’s local compliance and human resources in more than 170 countries and regions. The plan also shares Huawei Cloud’s insights into industries and the hottest domains, as well as corresponding product and solutions for more enterprises to go global.

Ms. Shi released 15 innovative services at the conference, including CCE Turbo (Cloud Container Engine), UCS (Ubiquitous Cloud Native Service), Pangu wave model, DataArts LakeFormation, Virtual Live, CodeCheck and CloudTest, KooMessage, KooSearch, and KooGallery. This is the first time the services are announced for global implementation.

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Innovative Mobile Payment Provider MOCASA Received Tens of Millions of US Dollars of Fundraising

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SINGAPORE, Sept. 16, 2022 /PRNewswire/ — MOCASA has secured tens of millions of US dollars, which will propel this global mobile payment company to better product development, expand team cohort, and cultivate new technology.

MOCASA Mobile Payment
MOCASA Mobile Payment

MOCASA was founded in 2021, with a headquarter in Singapore. It aims to provide innovative, easy, and convenient mobile payment services for the underbanked population in emerging markets. MOCASA made its first march into the Philippines market in the same year of its founding. Currently, MOCASA has covered all major payment scenarios, including food, online shopping, convenient stores, billing, and gasoline, enabling users to pay via MOCASA at more than 700k merchants and online shopping platforms across the Philippines.

As disclosed, MOCASA is significantly expanding its online payment scenarios with its virtual credit payment option. Users can opt for MOCASA for credit payment, recharge, or billing on any platform that accepts Visa or MasterCard. This includes major online shopping platforms such as Lazada, top food delivery platforms such as foodpanda, internet and telecom operators, and public services.

Philippine Payments Management, Inc. (PPMI) and Banko Sentral ng Pilipinas (BSP) are aiming to enhance mobile payment infrastructure in the Philippines and spread safe and cashless payments among the people. As one of the first mobile payment companies to embrace cashless mobile payment in the country, MOCASA is now supporting more than 700k in-store merchants. Such a wide range of coverage has sufficiently supported users to use MOCASA credit at some of the most renowned markets, stores, food chains, gas stations, and many more scenes via a quick scan of the QR code.

Another key feature of MOCASA is its multifaced demonstration of partnered merchant information and services. MOCASA has proved to be a great tool for smartphone users to view merchant information, order food delivery, rate score, and comment on merchants. Many advantages come with MOCASA as well. MOCASA provides various benefits, including rewards, cashback, and discounts in a number of settings. MOCASA is also known for expanding its mobile payment and internet services to Thailand, Vietnam, and other emerging markets around the globe.

MOCASA has a highly diverse and well-experienced team from various top-notch enterprises in the business, including Capital One (NYSE: COF), Susquehanna International Group (SIG), JD.COM(JD), SAMSUNG (KRX: 005930), and MeiTuan (3690.HK).

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Huawei Cloud Pledges to Build Global Startup Ecosystem, to Enable 10,000 High-Potential Startups in Three Years

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SHENZHEN, China, Sept. 15, 2022 /PRNewswire/ — Today, at the Huawei Cloud Global Startup Founders Summit held in Shenzhen, Huawei Cloud announced their commitment to building a global startup ecosystem and three key initiatives to accelerate startup growth: an innovative cloud platform, startup acceleration programs, and business resources. Joined by several veteran venture capitalists, they also announced the Huawei Cloud Accelerator, a program aiming at empowering startups at all stages of their lifecycles.

Mr. Zhang Ping'an announcing Huawei Cloud's global startup ecosystem strategy
Mr. Zhang Ping’an announcing Huawei Cloud’s global startup ecosystem strategy

In his speech at the summit, Mr. Zhang Ping‘an, Huawei Senior Vice President and Huawei Cloud CEO, said that Huawei Cloud firmly believes in the power of startups to change the world, and that Huawei Cloud is ready to share with startups Huawei’s over 30 years of experience in technology and innovation, and to build a robust startup ecosystem powered by Huawei’s global cloud infrastructure and extensive Technology-as-a-Service offerings, with the purpose of empowering startups and accelerating their growth on the cloud.

Huawei Cloud stresses driving innovation with technology and accelerating startup growth with a strong global ecosystem. This is why they have announced plans to step up efforts in ecosystem building along with three key initiatives — an innovative cloud platform, startup acceleration programs, and business resources. Over the next three years, Huawei plans to help 10,000 high-potential startups worldwide to accelerate innovation and growth on the Huawei cloud platform and in the greater ecosystem.

At the summit, Mr. Zhang Ping‘an, joined by several veteran venture capitalists, officially announced Huawei Cloud Accelerator. This program currently focuses on six key areas: enterprise services/SaaS, AI, biotech, fintech, smart energy/carbon neutrality, and industrial digitization, but will later be expanded to cover more industries and domains. It offers an Early-stage Startup Bootcamp and an Industry-themed Bootcamp to meet the needs of startups at different stages of their lifecycle.

Going forward, Huawei Cloud is committed to working with partners and customers to build an inclusive, vibrant startup ecosystem, which is expected to become a powerful engine for digital transformation.

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NAVER Z joins Tech Coalition to Prevent Sexual Exploitation and Abuse of Children Online

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SEONGNAM, South Korea, Sept. 14, 2022 /PRNewswire/ — NAVER Z, an affiliate of NAVER Corp. (KRX:035420), announced today that the company joined the Tech Coalition to prioritize the safety of children and teenagers in ZEPETO, Asia’s largest metaverse platform. Tech Coalition is an alliance of global technology companies that are working to protect children from sexual exploitation and abuse on the internet and across digital platforms, and over 20 global IT companies including Google, Amazon, Microsoft, and Meta have joined forces.

As a member of the Tech Coalition, NAVER Z joins 27 companies that are working to develop new technologies, fund new research, increase reporting, and take collective action to ensure a more coordinated and collaborative approach to keeping children safe online.

For young users of ZEPETO, the NAVER Z updated the Community Guidelines, which highlight that minor safety violations are reviewed with the highest priority and severity, and published Guardian’s Guide to equip parents, guardians, and caretakers with informative resources to help keep young users safe. NAVER Z’s global Trust and Safety team is also working around the clock to develop tools and resources that prevent, detect, and remove accounts that engage in child sexual exploitation and abuse.

In addition to partnerships with Tech Coalition, NAVER Z is cooperating with leading global online safety experts and organizations, including ConnectSafely, Trust and Safety Professional Association, and BBB National Programs.

NAVER Z is committed to promoting the Voluntary Principles to Counter Online Child Sexual Exploitation and Abuse– a high-level framework developed by the Five Country Ministerial (Australia, Canada, New Zealand, UK and US) in consultation with leading experts intended to drive collective action to prevent these harms against children.

“We’re thrilled to join the Tech Coalition and our peers working to combat child sexual exploitation and abuse online through collaboration,” says Daewook Kim, Chief Executive Officer of NAVER Z. “ZEPETO is a platform that empowers users to connect and create without the boundaries of the physical world. Our key responsibility is ensuring ZEPETO is a safe place where our community, especially our younger users, can play and create without fear of harm. As a member of the Coalition, we will contribute to the industry-wide initiatives to develop technology, policy, research, and tools to keep children safe online.”

“From our first conversation with NAVER Z, their strong commitment to protecting the children that use their platform has been clear,” says Sean Litton, Executive Director of the Tech Coalition. “We look forward to working with them and aligning their expertise as part of our coordinated effort to create a digital world where children are free to play, learn, and explore without fear of harm.”

About NAVER Z

NAVER Z launched the metaverse platform ZEPETO in August 2018, attracting users in more than 200 countries around the world. Creators and builders utilize ZEPETO Studio to connect with 340 million users globally, growing by 40% y-o-y. More than 95% of the users are millennials and Gen Z from outside of Korea, showing the virtual platform’s promise for future growth. ZEPETO is collaborating with fashion and beauty companies, including BVLGARI, Ralph Lauren, Gucci and Nike, global entertainment agencies and pop stars, such as TinyTAN, Selena Gomez, BLACKPINK and NMIXX as well as companies, such as Starbucks, Samsung, and Hyundai Motor Company. Launched in 2020, ZEPETO Studio allows ZEPETO users to monetize their creations. More than 175 million items have been sold, building a new creator economy.

About the Tech Coalition

The Tech Coalition facilitates the global tech industry’s fight against the online sexual abuse and exploitation of children. An alliance of technology companies of varying sizes and sectors, Tech Coalition members work together to drive critical advances in technology and adoption of best practices for keeping children safe online. The Coalition convenes and aligns the global tech industry, pooling their knowledge and expertise, to help all the members better prevent, detect, report, and remove online child sexual abuse content. The coalition represents a powerful core of expertise that is moving the tech industry towards a safer digital world.

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MVNOs on Plintron MVNA / MVNE platform have differentiation opportunities with 5G technology

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SINGAPORE, Sept. 12, 2022 /PRNewswire/ — MVNOs on Plintron MVNA / MVNE platform can offer differentiated services using 5G like; Ultra HD 4K to 8K video streaming, Augmented Reality /Virtual Reality based media and 360-degree immersive media experience. Hence e-learning, Telemedicine consultation, Video-conferencing, Real-time IoT application-based services can be offered.

Subhashree Radhakrishnan, Vice Chairman and Co-Founder, Plintron Group said, “The Plintron MVNA/ MVNE platform supports 5G NSA Option 3 to step into 5G compliance. This will enable MVNOs on our platform to offer differentiated services and applications.”

 The Plintron 5G services is live with several MVNOs in USA and in 4 European countries with more to follow soon in its worldwide network. The Plintron MVNA / MVNE platform has 5G Non-Standalone (NSA) deployed on its platform commercially since January 2021 to meet the immediate 5G technology requirements of its MVNO customers. The Plintron platform supports extended AMBR DL which supports speeds higher than 4.2 Gbps like 10 Gbps.

Plintron has deployed 5G NSA initially, as most of the initial 5G rollouts by Mobile Network Operators (MNO) have been NSA deployments. For MNOs that are looking to deliver mainly high-speed connectivity to consumers with 5G-enabled devices, NSA is most appropriate, as it allows them to leverage their existing 4G LTE network investments in transport and mobile core and reduce capital costs of deploying an end-to-end complete 5G network.

In 5G NSA, the existing 4G-LTE network is used for everything except the 5G data plane, which is based on 3GPP Release 15 version of 5G NR.  Hence it is the best solution for MNOs looking to deliver quickly better data speeds via Enhanced Mobile Broadband (eMBB) or handle urgent LTE congestion issues.

Plintron looks forward to continue adopting new technologies and innovating to support its MVNO customers and partners in the future as well.

About Plintron

Plintron is a digital communication technology company enabling brands to acquire and engage customers. It is the world’s largest Multi Country end-to-end MVNA / MVNE with a client base in 6 continents. With mobile network services in over 30 countries spanning 6 continents supported by 1000+ telecom professionals, Plintron has launched 143+ MVNOs and 165 million+ mobile subscribers. Plintron has won many global industry awards including ‘MVNE of the Year’ at the MVNOs World Congress 2022.

Visit www.Plintron.com

Media contact:

Shamik Biswas
marketing@plintron.com

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Stories of Chinese Craftsman’s Spirit – A Feast for Your Eyes: Exquisite Artisan Chinese Pastries by Chef Zhao

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BEIJING, Sept. 9, 2022  /PRNewswire/ — A news report by China.org.cn on CPC centenary:

On a July day in 2022, two international students came to visit Huilian Zhao, head pastry chef at Beijing Minzu Hotel, to learn how to make creatively shaped Chinese pastries. The two students are Yisheng Zhang from Mali and Sisi Yang from Costa Rica.

Upon their arrival, they tasted some of the creatively shaped pastries made by Chef Zhao. They are stunned by the exquisiteness and great taste of these food. Yang exclaimed over a one that looks exactly like an apple, and Zhang kept saying “yummy” after tasting a “walnut”. And then, Chef Zhao began to show them how to handmake a walnut-shaped pastry. Under his  guidance, the two students soon got the hang of it. “Awesome!” Yisheng murmured exultingly.

Besides, these pastries also reflect good wishes. The beautiful walnut-shaped pastry signifies “harmony and beauty”, as, in Chinese, the first character of “walnut”(hetao) is the homonym for “harmony”(he). If paired with an apple, it will mean world peace, as the Chinese word they formed is pronounced the same as “peace”(heping). “How brilliant! These pastries not only look beautiful, but also convey good wishes,” Yang said admiringly.

When asked how he started his career in pastry-making, Huilian Zhao replied smilingly, “I began to be interested in it when I saw a chef demonstrate how to make pastries at a Mid-Autumn Festival. I can’t help marveling at the exquisiteness of the artisan food. Since then, I began to love it. ” Mr. Zhao, who was then just asked to work temporarily in the workshop due to chef shortages, wouldn’t have thought that he would become a pastry chef later and pursue the career for the rest of his life. Today, many foreigners, attracted to his delicate pastries and superb craftsmanship, have come to visit him，wanting to see him at work.

Creatively delicate pastries made by Chef Zhao, which used to be served just for ordinary customers in a Beijing hotel, have now been in the state banquet menu and started to be known to the world.  Huilian Zhao is presenting, in his own way, to the world the great charm of Chinese pastries. Chef Zhao is much more than a national master in pastry. He is also one of the Chinese artisans representing the spirit of craftsman.

After this hands-on experience, the two international students learned the basic procedure for making creatively shaped Chinese pastries, and more importantly, gained a better understanding of the Chinese craftsman spirit, the very working attitude seen in Huilian Zhao, who kept pursuing excellence in pastry-making in the hope of spreading Chinese pastries exhibiting oriental beauty and Chinese-style elegance all over the world.

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Chindata Group announced 2022 Q2 financial report: delivering upbeat revenue and adjusted EBITDA results for eight straight quarters

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BEIJING, Sept. 6, 2022 /PRNewswire/ — On August 25, Chindata Group Holdings Limited (“Chindata Group” or the “Company”) (Nasdaq: CD), a leading carrier-neutral hyperscale data center solution provider in Asia-Pacific emerging markets, announced its unaudited financial results for the second quarter and half year 2022 ended June 30, 2022. Chindata Group firmly grasped the development opportunities of the digital economy and China’s “East Data West Computation” policy, and continued to maintain a strong growth in the second quarter. Total IT capacity of the data center increased to 776MW; revenue in the second quarter of 2022 increased by 51.2% year over year (“YoY”) to RMB 1,038.1 million; net income in the second quarter increased by 206.3% YoY to RMB199.6 million, with a margin of 19.2%. Adjusted EBITDA in the second quarter of 2022 increased by 60.8% YoY to RMB544.3 million, with a margin of 52.4%. The Company has been delivering upbeat revenue and adjusted EBITDA results for eight straight quarters.

For the first half of 2022, Chindata Group achieved total revenue of 1,958.7 million, representing a year-on-year growth of 47.3 %. Adjusted EBITDA increased by 60.7% to RMB1,038.8 million; net income increased by 138.5% to RMB294.1 million.

Under the favorable guidance of the digital economy and the national top-level strategy of “East Data West Computation”, Chindata Group’s business continued to maintain solid growth . As of the end of the second quarter, total capacity increased by 72MW during the second quarter to reach 776MW. Two new under-construction hyperscale projects in northern China with a total capacity of 73MW were added to the asset portfolio, representing an increase of 34.3% compared with 578MW in the same period in 2021.

Chindata Group focuses on the hyperscale data center model and has achieved remarkable results in customer diversification. Total contracted and Indication of Interest (“IOI”) capacity reached 650MW in the second quarter, representing a 31.2% YoY increase. Commitment ratio remained healthy for the Company’s asset portfolio and contracted & IOI ratio for total capacity was 84% by the end of the second quarter of 2022.

Chindata Group is deeply engaged in the rapidly developing Asia-Pacific market with huge potential, and its hyperscale data center projects have performed well in China and Southeast Asia.

Among the eight national computing power hub nodes of “East Data West Computation ” launched by Chinese government in February 2022, Chindata Group has deployed ahead of schedule in four hubs of Beijing–Tianjin–Hebei region, the Yangtze River Delta, the Guangdong-Hong Kong-Macao Greater Bay Area and Gansu. As of the second quarter, Chindata Group has 30 data centers in total, of which two new under-construction hyperscale projects in northern China were added in this quarter.

As of the second quarter, utilized capacity of 57MW was added, and quarter-end utilized capacity reached 401MW, representing a 59.6% YoY growth. The newly-added capacity mainly came from Chindata Group’s northern China and Malaysia campus to support the rapid business development of leading technology clients in China and abroad. In the second quarter, Chindata’s in-service capacity increased by 13MW to 511MW, representing a 41.8% YoY growth.

Chindata Group is also constantly devoting itself to pursuing growth with quality through constant innovation, research and development. On July 29th, 2022, Chindata and its technical partner, Vertiv Technology, jointly released a waterless cooling technology. Coined “X-Cooling”, the solution enables data centers to achieve zero Water Use Efficiency (“WUE”) cooling, which is setting a new benchmark for the industry. By the end of the second quarter of 2022, the Company has a total of 361 approved and pending patents, far ahead of the industry.

On June 24 this year, Chindata Group officially closed a 500 million USD syndicated loan financing. The facility, joined by 15 lenders, has a 3-year tenor with a 2-year extension option. On July 25th, 2022, Fitch rating reaffirmed the Company’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) and foreign-currency senior unsecured rating at ‘BBB-‘, with a stable outlook. 

Mr. Wu Huapeng, CEO of Chindata Group, quoted: “Our business in China and Southeast Asia continued its solid momentum in the second quarter of 2022. Total capacity of the Company reached 776MW, which is a 72MW increase during the quarter and we have been delivering upbeat revenue results for eight straight quarters. We believe our early and ongoing layout in Asia Pacific emerging market and key regions under the “East-Data-West-Computation” in China, along with our hyperscale model that serves digital leaders and enterprise clients, constitutes the solid fundamentals for such momentum.

The Company is also constantly devoting itself to pursuing growth with quality through constant innovation and research and development. As a demonstration of that, our approved and pending patents by end of the second quarter was 361, representing an increase of 51 compared with that in the first quarter of 2022.

Furthermore, the Company has successfully closed the $500 million syndicated loan in late June, and the reaffirmation of our investment grade credit rating by notable rating agency recently has enabled the Company to maintain its diversified financing options. Looking forward to the future, Chindata Group has gained strong momentum in terms of sustained high-speed growth.”

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