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PR Newswire

CCTV+: Xi calls for global sci-tech innovation cooperation at opening of 2021 Zhongguancun (ZGC) Forum

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BEIJING, Sept. 26, 2021 — Chinese President Xi Jinping called for global cooperation in scientific and technological innovation at the Zhongguancun Forum in Beijing on Friday.

 

Addressing the forum’s opening ceremony via video link, Xi said countries in the world should ramp up sci-tech opening-up and cooperation, and explore approaches and means to tackle pivotal global issues through concerted efforts in sci-tech innovation.

"It is more imperative than ever for all countries to ramp up sci-tech opening-up and cooperation, and explore approaches and means to tackle pivotal global issues through concerted efforts in sci-tech innovation. All countries should stand in solidarity to confront the common challenges of the times and jointly push forward the lofty cause of human peace and development," he said.

"China attaches great importance to sci-tech innovation and has been committed to global cooperation in this regard. Looking ahead, we will strengthen international sci-tech exchanges with a more open attitude, actively engage in the global innovation network, and join hands with other countries to promote basic research. We will promote the commercialization of research results, cultivate new impetus for economic development, enhance the protection of intellectual property rights, create a first-class innovation ecosystem, and foster the concept of ‘science and technology for good’ so as to serve the ultimate purposes of improving global sci-tech governance and bettering the wellbeing of mankind," said Xi.

"Zhongguancun is China’s first national pilot zone for independent innovation. The Zhongguancun Forum is a national-level platform for international sci-tech exchanges and cooperation. China supports Zhongguancun to start a new round of reforms, accelerate the building of a world-class sci-tech park, and make new contributions to global sci-tech innovation and cooperation. I hope the forum participants will have in-depth exchanges and pool wisdoms to offer insights on how to advance global sci-tech innovation and cooperation and how to build a community of shared future for mankind," said Xi.

This year’s forum is scheduled to be held from Sept 24 to 28. Themed "intelligence, health and carbon neutrality", it aims to demonstrate China’s resolve in promoting development through science and technology, building ecological civilization and enhancing international cooperation in climate change.

Link: https://www.youtube.com/watch?v=ftSujLjG0sc

PR Newswire

Laiye Selected in Leading Position in Gartner’s “Critical Capabilities for Robotic Process Automation 2021”

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3 Expert Tips for a Successful RPA Implementation By Yichuan Hu, CTO of LAIYE

BEIJING, Sept. 18, 2021 — Gartner releases "Critical Capabilities for Robotic Process Automation 2021" in which Laiye is selected in leading position in all the five common use cases. "Laiye offers an integrated intelligent automation platform with a range of capabilities including document processing, chatbot, AI model creation and process discovery." as rated by Gartner of Laiye RPA products.

When done right, Robotic Process Automation (RPA) can be a game-changing technology for organizations. RPA tools have been deployed in various industries, used to automate business processes. The scenarios it covers have expanded from rule-based, simple task automation to complex process automation that requires Artificial Intelligence (AI) capabilities.

Selecting the RPA tool that matches your business process requirements is critical, but success also lies in choosing right underlying RPA product. Here are three insights on selecting RPA product that will continue to deliver value.

1. UI automation are foundational capability for RPA product

Do the research and understand the features and capabilities of the different RPA tools. Tools vary between vendors, and the technology is continually evolving and can meet different technical and business requirements. For example, automation via user interface integration, or UI automation, is identified by Gartner as the most fundamental and critical use case for RPA. Since its inception, RPA tools are known for non-intrusive UI automation, with the capability to automate business processes by bridging cross-system data without modifying existing systems. Although most RPA products provide UI automation capability, the key that differentiates them is the underlying workflow engine.

Currently, many RPA products are developed based on a workflow engine called Microsoft Windows Workflow Foundation. While it leverages an off-the-shelf framework, there are obvious risks and limitations. Firstly, Microsoft has made a limited investment in Windows Workflow Foundation – it has not been updated since August 2012. Hence, it’s still unclear how the technology will develop in the future.

Secondly, Windows Workflow Foundation only supports the Windows system. Therefore, RPA products developed based on it could only support automation on Windows and cannot be used in other operating systems. This may hem in the organization in terms of future RPA scalability and agility in responding to changing business needs.

2. Citizen developers are key to RPA scaling

Citizen developers – or non-technical users – can create RPA robots that automate repetitive work for themselves or their departments without the help of IT. Hence, enterprises need to evaluate RPA vendors whether they can enable citizen developers in order to achieve large-scale implementation of RPA. Some vendors also provide community editions of their RPA software to encourage a huge external pool of developers and community members which can be an extra developer talent pool for organizations to leverage. These vendors continually cultivate new talents by offering courses with several universities and holding competitions for RPA developers.

Gartner has highlighted how a great RPA product can significantly lower the threshold for bot development and usage. It can accelerate citizen automation, empowering citizen developers to build automation scripts using low-code development interfaces, guided navigation and workflow generation.

Gartner also pointed out that the ability to create headless bots is crucial to realize the large-scale implementation of RPA.

Laiye’s RPA provides various means to create headless bots, including SDK, APIs, command library, plug-ins, etc. All can be easily integrated and reused – whether it is an end-to-end automation process or a piece of an automated task that might be used repetitively. Specifically, SDK equips third-party software with the capability of process automation. APIs allow third-party systems to manage and schedule RPA bots, and plug-ins support multiple programming languages like C++, C#, Java, and Python, greatly enhancing the bots’ ability to serve as a connector.

3. AI is critical to expanding the boundary of RPA

While RPA automates repetitive and mundane rules-based tasks, AI can gather and learn from insights and pass that on in a structured format for RPA. When combined, RPA and AI technologies can enable even greater intelligent automation.

In some business cases, traditional rule-based RPA bots can no longer meet all the requirements, and AI capability becomes a necessary and important element to build intelligent automation solution. Gartner identifies augmenting knowledge workers and automating document processing as two use cases combining AI and RPA. Since two of the five use cases identified by Gartner are AI-related, the importance of AI capability for RPA products cannot be underestimated.

To augment knowledge workers to get work done, RPA bots need to recognize and understand images with the help of computer vision (CV) technology, understand texts through natural language processing (NLP) technology, and realize human-machine interaction with conversational AI capability. A successful approach is to combine these AI technologies to achieve end-to-end automation through human-machine interaction. This solution is seen in use cases such as employee desktop assistant.

Looking forward, just as the industrial revolution has significantly automated manufacturing processes, RPA will eventually automate the operations and decision-making processes within organizations. Today, existing RPA products only solve part of the enterprise business automation challenges. There remains much room for imagination and potential for future growth in this space.

PR Newswire

Xinhua Silk Road: China Zoomlion speeds up machinery cluster dev. with manufacturing park cons. in full swing

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BEIJING, Sept. 18, 2021 — The "smart industry city" project by Hunan-based Zoomlion Heavy Industry Science & Technology Co., Ltd. (000157.SZ; 01157.HK) on Friday took off in full swing with the headquarters building, the engineering crane machinery manufacturing park, the concrete pumping machinery park, and the aerial-work machinery park kicking off construction.

China Zoomlion holds ceremony on September 17, kicking off constructions on the headquarters building, the hoisting machinery park, the concrete pumping machinery park, and the aerial-work machinery park of its "smart industry city" project.
China Zoomlion holds ceremony on September 17, kicking off constructions on the headquarters building, the hoisting machinery park, the concrete pumping machinery park, and the aerial-work machinery park of its "smart industry city" project.

Eyeing for a global construction machinery cluster, the smart industry city project is expected to generate some 100 billion yuan of output value annually when put into function.

The project will gear Changsha City with high-end smart manufacturing namecard and a highland for advanced manufacturing base, said Changsha mayor Zheng Jianxin.

Looking ahead, Zoomlion will accelerate intelligent and green transformation and cluster development to further contribute to building Changsha City a "capital for construction machinery", said Zoomlion chairman Zhan Chunxin.

The project mainly consists of four parks with the excavating machinery park already in operation.

Annual output value of the four parks is planned to range 20-30 billion yuan each, according to Zoomlion vice president Fu Ling, noting that the project is expected to become the world’s largest construction machinery intelligent manufacturing park when completed.

It is noted that more than 260 robots, 57 intelligent production lines and four "dark factories" are planned for the engineering crane machinery park. For the concrete pumping machinery park, visual recognition, AI decision-making, laser scanning, and 3D modeling will be in place to gear 32 intelligent production lines for welding, machining, painting, and assembly. For aerial-work machinery manufacturing park, 620 sets of automation equipments are planned with 27 intelligent production lines.

Efficiency is another keyword, with the project expected to witness one concrete pump truck rolling off production line every 30 minutes, one crane every 18 minutes, one aerial work platform product every 7.5 minutes and one excavator every 6 minutes when in use.

The project also adopts sustainable philosophy such as environment-friendly details like low emission, water recycle, zero VOC emissions in the manufacturing process which is partly powered by PV solar, according to assistant president Dong Jun.

Original Link: https://en.imsilkroad.com/p/323890.html

PR Newswire

Sangfor Releases Extended Detection, Defense and Response (XDDR) Application Containment

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HONG KONG, Sept. 16, 2021 — Sangfor Technologies (300454.SZ) announced the release of their long-awaited extended protection solution, XDDR Application Containment. Based on Sangfor’s XDDR security framework, Application Containment allows the network and endpoints (both on-premise or in-cloud) to work together to identify, control, and report on all applications running on endpoints, or using the network to communicate. Sangfor’s XDDR provides an integrated solution that protects against ransomware, malware, APTs, phishing websites and email, and potentially malicious applications.

The Most Powerful Application Containment Solution
The Most Powerful Application Containment Solution

Controlling and enforcing internet access policies in the workplace has not been easy. Employees want access to the internet for personal use as well as their work, making overly restrictive security solutions difficult to implement and maintain. Organizations deploy proxy servers to control access to the internet and external applications. This access control is necessary to maintain productivity, ensure users do not access malicious sites and unknowingly download malware, and to maximize bandwidth utilization for critical business applications.  Many users employ VPN (virtual private network) technology, anonymous browsers, and other proxy avoidance applications to bypass organizational security and content filtering policies enforced by the proxy servers. Sangfor XDDR Application Containment solutions enable the organization to quickly create Proxy Avoidance Protection policies for blocking usage of proxy avoidance tools and applications on the endpoint.

Sangfor’s NGAF (Next Generation Application Firewall), IAG (Internet Access Gateway) and Endpoint Secure products work cohesively to provide real-time visualization of all application communication throughout the entire network, quickly identifying proxy avoidance traffic. Proxy Avoidance Protection policies can quickly be built on the NGAF or IAG from Sangfor’s extensive library of anti-proxy and proxy avoidance applications. These policies are then deployed by Endpoint Secure to block or monitor anti-proxy applications.

Organizations can also create whitelists and blacklists of applications in Application Containment. This gives administrators granular control of applications running on PCs, laptops, and servers to prevent installation of malware and ransomware, especially with users working from home, to prevent infection of corporate, enterprise, or organizational networks, resources, and critical assets. Peripheral Control manages access to connected USB devices to prevent data leakage.

Traditional extended detection and response (XDR) is network security technology designed to provide increased visibility, analysis functions and response to cyber-threats in the network, cloud, applications, and endpoints. XDR is positioned as the most sophisticated technology available but tends to be more marketing hype than reality, having been developed as the progression of EDR, or endpoint detection and response, to work with non-integrated network security products. Unlike XDR products, Sangfor XDDR Application Containment is the only true solution where network and endpoint work together to identify, control, and report on both allowed and malicious applications running on endpoints and communicating across the network. Sangfor NGAF, IAG and Endpoint Secure coordinate responses so Application Containment can provide real-time blocking and monitoring of unapproved or malicious applications.

Control can be regained from rogue applications delivered by ransomware, malware and APTs that users bring into networks. Sangfor Application Containment blocks the bypassing of internet access controls and prevents users from bringing them in again.

For more information on Sangfor XDDR, or Sangfor’s entire suite of interconnected and intuitive security and cloud solutions, visit www.sangfor.com today. 

About Sangfor Technologies

Sangfor Technologies is a leading global vendor of IT infrastructure and security solutions, specializing in Cloud Computing & Network Security with a wide range of products & services including Hyper-Converged Infrastructure, Virtual Desktop Infrastructure, Next-Generation Firewall, Internet Access Gateway, Endpoint Protection, Ransomware Protection, Managed Detection and Response, WAN Optimization, SD-WAN, and many others.

Sangfor takes customers’ business needs and user experience seriously, placing them at the heart of our corporate strategy. Constant innovation and commitment to creating value for our customers help them achieve sustainable growth. Established in 2000, Sangfor currently has 7,500 + employees with more than 60 branch offices globally in exciting locations like Hong Kong, Malaysia, Thailand, Indonesia, Singapore, Philippines, Vietnam, Myanmar, Pakistan, UAE, Italy, Spain and the USA.

Media Contact:
Sunny Sun
+86-755-8656 0605
marketing@sangfor.com

Related Links :

http://www.sangfor.com

PR Newswire

China.org.cn: Regulating algorithms to protect your interests

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BEIJING, Sept. 10, 2021 — A news report by China.org.cn on China’s recent draft regulations on algorithm recommendation:

 

Here are some scenarios that most people are familiar with: Searching for products on a shopping app leads to relevant ads "magically appearing" on your social media. Or when watching short videos on your phone, you may find that they are just to your taste and you just cannot stop.

The recommendation algorithms that can "read your mind" actually expose acute problems such as privacy leaks and data security. In response, the Cyberspace Administration of China (CAC) released the draft Regulations on the Management of Internet Information Service Recommendation Algorithms to solicit opinions from the public. The regulations include 30 points, covering rules such as those to protect minors and provide users the option to turn off recommendation services.

Nowadays, science and technology provides people with an unprecedented wealth of information and experiences. However, its unchecked and chaotic development could cause great harm. A majority of recommendations are harmless enough. But people often hear news about teenagers, who lack a mature worldview and outlook on life and values, getting injured while imitating what they see in popular short videos. If content containing smoking and drinking, violence, and distorted values are repeatedly recommended, then copied by minors, it will also result in particularly adverse consequences.

Interest-based recommendation algorithms can easily lead to users being "cocooned" and limiting their access to other information. Therefore, it’s vital to give users more choice. Lots of recommendation algorithms can induce users with a variety of content in diverse forms, ranging from product advertisements to material influencing people’s political opinions. For instance, Facebook and Google were previously accused of intensifying political polarization. If algorithms are used for improper competition, what people see and think will become presumptions of the "manipulators", which runs counter to the ideals of fairness and justice.

Nowadays, information and data security affect every aspect of everyday lives and are essential to everyone. Thus, it’s imperative that these algorithms are regulated, as is the case in every other country. On Sept. 1, the Data Security Law officially came into effect in China, aiming to better safeguard data security as well as the legal rights and interests of citizens and organizations.

In the internet age, privacy and data security issues know no borders, and so China has taken steps to explore the protection of data security. There are enough reasons to believe that a safer and more objective cyberspace can be created through the consultation and cooperation between China and the rest of the world.

China Mosaic
http://www.china.org.cn/video/node_7230027.htm
Regulating algorithms to protect your interests
http://www.china.org.cn/video/2021-09/10/content_77745095.htm

PR Newswire

S. Korea’s KT Corp. Acquires Epsilon Telecommunications to Expand Global Presence and Accelerate Digital Transformation

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SINGAPORE, Sept. 10, 2021 — KT Corp. (KRX: 030200; NYSE: KT), South Korea’s largest telecommunications company, has acquired Singapore-headquartered Epsilon Telecommunications, a global connectivity provider that simplifies how businesses connect applications and data around the world and in the cloud. The acquisition matches Epsilon’s agile innovation in international networking with KT’s world-class telecommunications services, customers, leadership, and resources.

"We are excited to announce the acquisition of Epsilon and welcome the team to the KT family of businesses. Epsilon provides mission-critical networking for global digital transformation and maximising the value of cloud for enterprise customers. It has a tremendous mix of technology, teams and innovation that are directly aligned with KT’s vision for enabling enterprises with digital platforms," said Dr. Hyeonmo Ku, CEO at KT Corp. "Epsilon provides great value with its Infiny platform and global network, which offers customers an agile approach to global networking. Both companies share a vision for global digital transformation and the power that digital platforms have to change industries."

Epsilon’s NaaS platform Infiny provides businesses with a suite of high-performance connectivity and communications services at the click-of-a-button.

KT benefits from Epsilon’s fully managed connectivity services with automation, orchestration and a comprehensive approach to end-to-end service delivery. Epsilon offers consistent and reliable connectivity to leading data centres, clouds and internet exchanges via its global private backbone network.

"The acquisition of Epsilon by KT is a great milestone on our company’s journey and recognition of the hard work of our teams across the globe. The timing is right to support Epsilon with new resources and the backing of a world-leader in telecommunications. We look forward to continuing to grow Epsilon and provide innovative solutions and experiences for our new and existing customers across the globe," said Michel Robert, Chief Executive Officer at Epsilon Telecommunications. "The acquisition is a logical next step for both businesses and a fantastic opportunity for customers, partners and internal teams."

KT gains connectivity to the world’s leading communications and technology hubs in 41 cities, with extensive presence across the Asia-Pacific including Mainland China. With Epsilon’s suite of connectivity solutions spanning cloud connectivity, ethernet (DCI), remote peering, access, SD-WAN, colocation and voice, KT is extending its capabilities to meet the changing demands from carriers, channel partners and enterprises across the globe.

Related Links :

The Global Connectivity Provider
PR Newswire

CooTek Announces Second Quarter 2021 Unaudited Results

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SHANGHAI, Sept. 8, 2021 — CooTek (Cayman) Inc. (NYSE: CTK) ("CooTek" or the "Company"), a global mobile internet company, today reported unaudited financial results for the second quarter ended June 30, 2021.

Second Quarter 2021 Highlights

  • Net revenues were US$83.2 million, a decrease of 34% from US$126.4 million during the same period last year due to the continuous restructuring of portfolio products.
  • Gross profit was US$74.4 million, a decrease of 38% from US$120.7 million during the same period last year.
  • Gross profit margin was 89.4%, compared with 95.5% during the same period last year.
  • Net income was US$0.3 million, compared with net loss of US$12.4 million last quarter, and net income of US$3.1 million during the same period last year.
  • Adjusted net income[1] (Non-GAAP) was US$1.1 million, compared with adjusted net loss (Non-GAAP) US$11.1 million last quarter, and adjusted net income (Non-GAAP) of US$4.5 million during the same period last year.
  • The Company’s Portfolio Products[2] contributed approximately 99% of total revenues, with a focus on three main categories: online literature, mobile games and scenario-based content apps.

June 2021 Operational Highlights

  • Average daily active users ("DAUs") of the Company’s portfolio products were 23.5 million, a decrease of 2% from 23.9 million in June 2020. Monthly active users ("MAUs") of the Company’s portfolio products were 70.0 million, a decrease of 16% from 83.5 million in June 2020.
  • Average DAUs of the Company’s online literature products were 6.7 million, a decrease of 17% from 8.1 million in June 2020. MAUs of the Company’s online literature products were 18.1 million, a decrease of 36% from 28.4 million in June 2020. The average daily reading time[3] of our online literature product in the Chinese market, Fengdu Novel’s users was approximately 153 minutes in June 2021, which continued to grow steadily compared with 148 minutes in March 2021.
  • Average DAUs of the Company’s TouchPal Smart Input were 109.6 million. MAUs of the Company’s TouchPal Smart Input were 144.1 million.

"We are pleased to return to profitability while keeping a positive quarter-over-quarter revenue growth in the second quarter of 2021," commented Mr. Karl Zhang, CooTek’s Chairman. "We remain committed to our content-focused strategy by continuously enhancing our product portfolio and optimizing our product features. We are encouraged by the solid implementation of the business plan driven by our online literature and mobile games products. With enriching and high-quality content incubation, Fengdu Novel has been expanding the exclusive content distribution and IP business. The revenues from the IP business of Fengdu Novel recorded 194% quarter-over-quarter growth. In addition, our mobile games portfolio has been further strengthened both in the domestic and overseas markets. We have strived to ride on the strong performance of Catwalk Beauty, our globally top-ranking casual game, to form a competitive product pipeline. As a special note, for the second half of 2021, we can expect such pipeline with more than 15 games in the domestic market and more than 20 games in the overseas market under the smooth combination of our internal development and external cooperation."

Mr. Robert Cui, CooTek’s CFO further commented, "As focusing on upgrading our business model, we have been optimizing the balance between our marketing and monetization strategies which resulted in the achievement of group-level profitability in the second quarter of 2021. We will further expand the scale of our product portfolio, improve our user experience and user stickiness and enhance our monetization capabilities. We are confident in delivering a robust and stable long-term growth."

(in millions)

Portfolio Products

Portfolio Products

Including: Online literature

DAUs

MAUs

DAUs

MAUs

Jun’ 19

27.6

65.1

0.3

1.6

Sep’ 19

23.9

67.5

2.0

11.0

Dec’ 19

24.7

74.6

4.8

19.3

Mar’ 20

25.2

89.2

7.3

29.1

Jun’ 20

23.9

83.5

8.1

28.4

Sep’ 20

27.7

94.8

10.0

29.5

Dec’ 20

27.8

85.8

10.2

29.5

Mar’ 21

20.3

58.6

7.5

20.1

Jun’ 21

23.5

70.0

6.7

18.1

Second Quarter 2021 Financial Results

Net Revenues

(in US$ thousands, except percentage)

2Q 2021

1Q 2021

2Q 2020

QoQ % Change

YoY % Change

Mobile Advertising Revenues

82,078

80,408

125,774

2%

(35)%

Other Revenues

1,139

1,144

622

0%

83%

Total Net Revenues

83,217

81,552

126,396

2%

(34)%

Net revenues were US$83.2 million, a decrease of 34% from US$126.4 million during the second quarter of 2020 and an increase of 2% from US$81.6 million during the last quarter. The decrease compared with the same quarter of 2020 was primarily due to a decrease in mobile advertising revenues.

Mobile advertising revenues were US$82.1 million, a decrease of 35% from US$125.8 million during the second quarter of 2020 and an increase of 2% from US$80.4 million during the last quarter. The decrease compared with the same quarter of 2020 was primarily due to the continuous restructuring of portfolio products.

Our portfolio products focus on three categories: online literature, scenario-based content apps and mobile games. Mobile games accounted for approximately 55%, online literature accounted for approximately 37%, and scenario-based content apps accounted for approximately 7% in the second quarter of 2021.

Cost and Operating Expenses

2Q 2021

1Q 2021

2Q 2020

(in US$ thousands, except percentage)

US$

% of revenue

US$

% of revenue

US$

% of revenue

QoQ %
Change

YoY %

Change

Cost of revenues

8,801

10%

8,866

11%

5,691

5%

(1)%

55%

Sales and marketing

59,787

72%

70,736

87%

105,999

84%

(15)%

(44)%

Research and development

9,709

12%

9,037

11%

8,103

6%

7%

20%

General and administrative

4,879

6%

5,557

7%

4,136

3%

(12)%

18%

Other operating income, net

(1,459)

(2)%

(802)

(1)%

(446)

(0)%

82%

227%

Total Cost and Expenses

81,717

98%

93,394

115%

123,483

98%

(13)%

(34)%

Share-based compensation expenses by function

Cost of revenues

54

0.1%

79

0.1%

71

0.1%

(32)%

(24)%

Sales and marketing

14

0.0%

41

0.1%

61

0.0%

(66)%

(77)%

Research and development

456

0.5%

646

0.8%

862

0.7%

(29)%

(47)%

General and administrative

317

0.4%

538

0.6%

430

0.3%

(41)%

(26)%

Total share-based compensation expenses

841

1.0%

1,304

1.6%

1,424

1.1%

(36)%

(41)%

Cost of revenues was US$8.8 million, a 55% increase from US$5.7 million during the same period last year, and a decrease of 1% from US$8.9 million during the last quarter. The year-over-year increase was primarily due to an increase in content costs we paid to our signed authors and third-party content providers for the publishing and licensing of relevant online literature works and an increase in salary and payroll expenses associated with staff.

Gross profit was US$74.4 million, a decrease of 38% from US$120.7 million during the same period last year, and an increase of 2% from US$72.7 million last quarter. Gross profit margin was 89.4%, compared with 95.5% in the same period last year and 89.1% last quarter.

Sales and marketing expenses were US$59.8 million, a decrease of 44% from US$106.0 million during the same period last year, and a decrease of 15% from US$70.7 million last quarter. As a percentage of total revenues, sales and marketing expenses accounted for 72%, compared with 84% during the same period last year, and 87% last quarter. The sequential and year-over-year decrease in sales and marketing expenses as a percentage of total net revenues was primarily due to the continuous transition of the strategy in relation to the acquisition of new users and the retention of existing users which resulted in the reduction of the user acquisition costs.

Research and development expenses were US$9.7 million, an increase of 20% from US$8.1 million during the same period last year and an increase of 7% from US$9.0 million last quarter. The sequential and year-over-year increase was primarily due to an increase in salary and payroll expenses associated with technology R&D staff, and was partially offset by decline in share-based compensation expenses. As a percentage of total net revenues, research and development expenses accounted for 12%, compared with 6% during the same period last year and 11% last quarter.

General and administrative expenses were US$4.9 million, an increase of 18% from US$4.1 million during the same period last year and a decrease of 12% from US$5.6 million last quarter. The sequential decrease was mainly due to a decrease in share-based compensation and third-party outsourcing fee, and was partially offset by a rise in professional service fee. The year-over-year increase was mainly due to an increase in salary and payroll expenses associated with G&A staff, professional service fee and third-party outsourcing fee, and was partially offset by decline in share-based compensation. As a percentage of total net revenues, general and administrative expenses accounted for 6%, compared with 3% during the same period last year and 7% during last quarter.

Other operating income, net was US$1.5 million, compared with US$0.4 million during the same period last year and US$0.8 million last quarter. The other operating income mainly included government subsidy received.

Net income was US$0.3 million, compared with net income of US$3.1 million during the same period last year and a net loss of US$12.4 million last quarter.

Adjusted net income was US$1.1 million, compared with adjusted net income of US$4.5 million in the same period last year and adjusted net loss of US$11.1 million last quarter. The achievement of profitability compared with the adjusted net loss last quarter was mainly due to the decrease in sales and marketing expenses as a percentage of total revenue driven by the continuous transition of the strategy in relation to the acquisition of new users and the retention of existing users.

(in US$ thousands, except percentage)

2Q 2021

1Q 2021

2Q 2020

QoQ % Change

YoY % Change

Net Income (Loss)

264

(12,398)

3,119

(102)%

(92)%

Add: Share-based Compensation related to share

options and restricted share units

 

841

 

1,304

1,424

 

(36)%

 

(41)%

Adjusted Net Income (Loss) (Non-GAAP)

1,105

(11,094)

4,543

(110)%

(76)%

For the quarter ended June 30, 2021, basic and diluted net income per ADS were US$0.004 and US$0.004, and basic and diluted adjusted net income (Non-GAAP) per ADS were US$0.02 and US$0.02, respectively.

Balance Sheet and Cash Flows

As of June 30, 2021, cash, cash equivalents and restricted cash were US$39.0million, compared with US$56.1 million as of March 31, 2021. As of June 30, 2021, restricted cash were US$3.3 million, mainly consisting of amount of US$3.1 million held in the Company’s bank account as guarantee deposit for loan facility provided by the bank. As of March 31, 2021, the long-term restricted cash was US$21.5 million held in the Company’s bank accounts which were frozen by a local authority in connection with an ongoing investigation related to an alleged illegal act of certain customers. As of June 30, 2021, the relevant bank accounts have been unfrozen.

Net cash outflow from operating activities during the second quarter of 2021 was US$17.5 million, compared with net cash inflow from operating activities of US$5.4 million for the same period in 2020 and net cash outflow from operating activities of US$23.0 million during the last quarter. Cash outflow from operating activities during the second quarter of 2021 was mainly due to the decrease in accounts payable driven primarily by the decrease of our user acquisition costs.

Net cash outflow from financing activities during the second quarter of 2021 was US$0.1 million, compared with net cash inflow from financing activities of US$3.1 million for the same period in 2020 and net cash inflow from financing activities of US$30.2 million during the last quarter. Cash inflow from financing activities during the first quarter of 2021 was mainly due to the Company issued a convertible note for a principal amount of US$10.0 million and received net proceeds of US$8.9 million from this issuance on January 19, 2021, and the Company issued a convertible note for a principal amount of US$20.0 million and received net proceeds of US$ 18.2 million from this issuance on March 19, 2021.

Share Repurchase Plan

On May 18, 2020, the Company announced a share repurchase program (the "2020 Program") whereby the Company is authorized to repurchase its class A ordinary shares in the form of ADSs with an aggregate value of up to US$20.0 million during the 12-month period starting from May 18, 2020. As of June 30, 2021, the Company had used an aggregate of US$6.0 million to repurchase 1.4 million ADSs under the 2020 Program and recorded as treasury stock. The 2020 Program was terminated on May 17, 2021.

Conference Call and Webcast

CooTek’s management team will host a conference call at 8:00 AM U.S. Eastern Time on September 8, 2021 (8:00 PM Beijing Time on the same day), following the results announcement.

The dial-in details for the live conference call are:

United States:

866-548-4713

Hong Kong:

800-961-105

Mainland China:

4001-209-101

International:

1-323-794-2093

Passcode:

7805619

Please dial in 15 minutes before the call is scheduled to begin. When prompted, ask to be connected to the CooTek (Cayman) Inc. call.

A live webcast and archive of the conference call will be available on the Investor Relations section of CooTek’s website at https://ir.cootek.com/.

About CooTek (Cayman) Inc.

CooTek is a mobile internet company with a global vision that offers content-rich mobile applications, focusing on three categories: online literature, scenario-based content apps and mobile games. CooTek’s mission is to empower everyone to enjoy relevant content seamlessly. CooTek’s user-centric and data-driven approach has enabled it to release appealing products to capture mobile internet users’ ever-evolving content needs and helps it rapidly attract targeted users.

Non-GAAP Financial Measure

To supplement the unaudited consolidated financial information prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP"), the Company uses non-GAAP financial measure of adjusted net loss that is adjusted from results based on GAAP to exclude the impact of share-based compensation, and Adjusted EBITDA that is net loss excluding interest income and expense, income taxes, depreciation and amortization, and share-based compensation. The measure should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results.

The Company believes that the non-GAAP measure help identify underlying financial and business trends relating to the Company’s results of operations that could otherwise be distorted by the effect of certain expenses that the Company include in loss from operations and net loss. By making the Company’s financial results comparable period over period, the Company believes adjusted net loss and Adjusted EBITDA provides useful information to better understand the Company’s historical business operations and future prospects and allows for greater visibility with respect to key metrics used by the management in financial and operational decision-making. In order to mitigate these limitations, the Company has provided specific information regarding the GAAP amounts excluded from the non-GAAP measure. The table at the bottom of this press release includes details on the reconciliation between GAAP financial measure that is most directly comparable to the non-GAAP financial measure the Company has presented.

Safe Harbor Statement

This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident," "optimistic" and similar statements. CooTek may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about CooTek’s beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: CooTek’s mission and strategies; future business development, financial conditions and results of operations; the expected growth of the mobile internet industry and mobile advertising industry; the expected growth of mobile advertising; expectations regarding demand for and market acceptance of our products and services; competition in mobile application and advertising industry; relevant government policies and regulations relating to the industry and the development and impacts of COVID-19. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and CooTek does not undertake any obligation to update such information, except as required under applicable law.

For investor enquiries, please contact:

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

ICA Investor Relations (Asia) Limited
Mr. Kevin Yang
Phone: +86-21-8028-6033
E-mail: cootek@icaasia.com

 

 

 

CooTek (Cayman) Inc.

Unaudited Condensed Consolidated Statement of Operations

(in thousands, except for share and per share data)

Three Months Ended

Six Months Ended

June 30,

March 31,

June 30,

June 30,

2020

2021

2021

2020

2021

US$

US$

US$

US$

US$

Net revenues

126,396

81,552

83,217

233,409

164,769

Cost of revenues

(5,691)

(8,866)

(8,801)

(10,273)

(17,667)

Gross Profit

120,705

72,686

74,416

223,136

147,102

Operating expenses:

Sales and marketing expenses

(105,999)

(70,736)

(59,787)

(208,435)

(130,523)

Research and development expenses

(8,103)

(9,037)

(9,709)

(14,950)

(18,746)

General and administrative expenses

(4,136)

(5,557)

(4,879)

(7,437)

(10,436)

Other operating income, net

446

802

1,459

836

2,261

Total operating expenses

(117,792)

(84,528)

(72,916)

(229,986)

(157,444)

Income (loss) from operations

2,913

(11,842)

1,500

(6,850)

(10,342)

Interest income (expense), net

211

(313)

(1,336)

234

(1,649)

Foreign exchange (loss) gain, net

(2)

(243)

19

—

(224)

Fair value change of derivatives

—

—

85

—

85

Income (loss) before income taxes

3,122

(12,398)

268

(6,616)

(12,130)

Income tax expense

(3)

—

—

(3)

—

Share of loss in equity method investment

—

—

(4)

(4)

Net income (loss)

3,119

(12,398)

264

(6,619)

(12,134)

Net income (loss) per ordinary share

Basic

0.001

(0.004)

0.0001

(0.002)

(0.004)

Diluted

0.001

(0.004)

0.0001

(0.002)

(0.004)

Weighted average shares used in calculating
    net income (loss) per ordinary share

Basic

3,084,894,043

3,136,585,226

3,238,319,836

3,094,780,922

3,187,723,620

Diluted

3,222,716,303

3,136,585,226

3,279,417,127

3,094,780,922

3,187,723,620

Non-GAAP Financial Data

Adjusted Net Income (Loss)

4,543

(11,094)

1,105

(4,254)

(9,989)

Adjusted EBITDA

5,123

(9,924)

3,428

(2,945)

(6,496)

 

 

 

Unaudited Condensed Consolidated Balance Sheets 

(in thousands, except for share and per share data)

As of

March 31, 
2021

June 30, 
2021

US$

US$

ASSETS

Current assets:

Cash and cash equivalents

31,413

35,667

Restricted cash

3,238

3,293

Short-term investment

50

50

Accounts receivable, net of allowance for doubtful accounts of US$1,126 as of  
  March 31, 2021 and US$1,180 as of June 30, 2021, respectively

27,425

31,451

Prepaid expenses and other current assets

9,293

8,966

Total current assets

71,419

79,427

Long term restricted cash

21,476

—

Property and equipment, net

4,916

4,100

Intangible assets, net

360

326

Operating lease right-of-use assets[4]

2,177

1,818

Long-term investments

304

620

Other non-current assets

1,015

1,211

TOTAL ASSETS

101,667

87,502

LIABILITIES AND SHAREHOLDERS’ DEFICIT

Current liabilities

Accounts payable

63,819

50,245

Short-term borrowings

15,028

15,162

Accrued salary and benefits

5,389

6,555

Operating lease liabilities, current[4]

1,486

1,322

Accrued expenses and other current liabilities

9,697

6,685

Convertible notes

16,547

16,243

Derivative liabilities

1,662

1,577

Deferred revenue

3,114

3,086

Total current liabilities

116,742

100,875

Other non-current liabilities

425

391

Operating lease liabilities, non-current3

688

231

TOTAL LIABILITIES

117,855

101,497

 

 

 

Unaudited Condensed Consolidated Balance Sheets (continued):

(in thousands, except for share and per share data)

As of

March 31, 
2021

June 30, 
2021

US$

US$

Shareholders’ Deficit:

Ordinary shares

33

33

Treasury shares

(5,132)

(5,229)

Additional paid-in capital

203,836

206,159

Accumulated deficit

(213,363)

(213,099)

Accumulated other comprehensive loss

(1,562)

(1,859)

Total Shareholders’ Deficit

(16,188)

(13,995)

TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT

101,667

87,502

 

 

 

Unaudited Condensed Consolidated Statement of Cash Flows

 (in thousands, except for share and per share data)

Three Months Ended

Six Months Ended 

 June 30,

March 31,

June 30, 

June 30,

2020

2021

2021

2020

2021

US$

US$

US$

US$

US$

Net cash provided by (used in)
     operating activities

5,402

(22,974)

(17,540)

20,362

(40,514)

Net cash used in investing activities

(13,859)

(359)

(565)

(14,628)

(924)

Net cash provided by (used in) 
      financing activities

3,100

30,150

(135)

(754)

30,015

Net (decrease) increase in cash and 
      cash equivalents

(5,357)

6,817

(18,240)

4,980

(11,423)

Cash, cash equivalents, and restricted 
      cash at beginning of period

70,026

49,622

56,127

59,966

49,622

Effect of exchange rate changes on 
      cash and cash equivalents

252

(312)

1,073

(25)

761

Cash, cash equivalents, and restricted
      cash at end of period

64,921

56,127

38,960

64,921

38,960

 

 

 

Reconciliations of GAAP and Non-GAAP Results

(in thousands, except for share and per share data)

Three Months Ended

Six Months Ended 

 June 30,

 March 31,

June 30, 

June 30,

2020

2021

2021

2020

2021

 US$

US$

US$

 US$

US$

Net Income (Loss)

3,119

(12,398)

264

(6,619)

(12,134)

Add:

Share-based compensation related to share options and
   restricted share units

1,424

1,304

841

2,365

2,145

Adjusted Net Income (Loss) (Non-GAAP)*

4,543

(11,094)

1,105

(4,254)

(9,989)

Add:

Interest (income) expense, net

(211)

313

1,336

(234)

1,649

Income taxes

3

—

—

3

—

Depreciation and amortization

788

857

987

1,540

1,844

Adjusted EBITDA (Non-GAAP)*

5,123

(9,924)

3,428

(2,945)

(6,496)

* The tax impact to the non-GAAP adjustments is zero.

 

 

 

[1] "Adjusted net income" (Non-GAAP) is a non-GAAP measure, which is defined as net loss excluding share-based compensation related to share options and restricted share units. For further information, please see "Non-GAAP Financial Measures" and "Reconciliations of GAAP and non-GAAP results" at the bottom of this release.

[2] "Portfolio Products" is to the mobile applications that we develop and provide to our users and business partners, which exclude TouchPal Smart Input and TouchPal Phonebook.

[3] "Average daily reading time" for any day is calculated by dividing (i) the sum of time spent on reading books on our Fengdu Novel for such day, by (ii) the number of Fengdu Novel users who spent time on reading books for such day. The average daily reading time for any month is calculated by dividing (i) the sum of average daily reading time for each day in such month, by (ii) the number of days in such month.

[4] On January 1, 2021, the Company adopted ASC 842, the new lease standard, using the modified retrospective method.

 

Related Links :

https://ir.cootek.com/

PR Newswire

Mobileum Referenced for 5G Service Assurance and Testing Vendors in 2021 Gartner ® Report Titled, “Market Trend: Expand CSPs’ Monetization With 5G, AI, Edge Compute”

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Testing Requirements Vital to 5G Monetization

CUPERTINO, Calif., Sept. 7, 2021 — Mobileum Inc. ("Mobileum"), a leading global provider of analytics solutions for roaming and network services, security, risk management, testing, and monitoring, is pleased to announce that it has been referenced in the 2021 Gartner report, " Market Trend: Expand CSPs’ Monetization with 5G, AI, Edge Compute".[1] The report identifies Mobileum as a Service Assurance and Testing vendor.

 

 

As CSPs transition to 5G, there are new opportunities to leverage their 5G networks as a service, providing vertical industries, such as industrial automation, security, healthcare, and automotive, the ability to boost connectivity-enabled productivity and innovation. With advanced closed-loop service assurance mechanisms supported by testing and revenue assurance mechanisms in place, CSPs can pursue new business models, such as offering SLA-based pricing according to various levels of quality. However, this requires an integrated testing and charging monitoring solution encompassing the 5G device, radio access, and core network. Mobileum’s Active Intelligence platform is a leading telecom-focused analytics technology with a robust testing infrastructure, automation capabilities, and a widespread set of network interfaces that allows for an active-passive testing and monitoring approach required to support 5G SLA-based business models.

"Due to the nature of dynamic provisioning and the scaling of network capacity and resources brought on by 5G, it’s more important than ever for CSPs to ensure that the quality of service delivered is meeting SLAs and the charges for those services are accurate. We are pleased to have been included in this Gartner report as a company providing this critical business support," stated Ron Haberman, Chief Product Officer at Mobileum.

Mobileum’s Testing and Monitoring and Risk Management solutions provide the service and connectivity customer experience monitoring required to support B2B and B2B2X business models. The in-depth portfolio provides the automation framework and performance intelligence necessary for CSPs to understand the domestic network experience spanning 5G, IoT and eSIM, mobile money, video, emergency service, IMS, voice, data and messaging, core network, to the smartphone and app experience. In addition, it is supporting CSPs across the world to test and monitor the international network experience for their roaming, IoT and connected cars, VoLTE roaming, and international Carrier customers. Recently, Mobileum announced that Audi (AUDVF) is deploying Mobileum’s Connected Car Testing solution to test and monitor the end-to-end quality of service (QoS) of their connected cars and ensure the highest service assurance standards and control over customer experience. 

Sources (available to Gartner subscribers):

[1] Gartner, "Market Trend: Expand CSPs’ Monetization with 5G, AI, Edge Compute", Susan Welsh de Grimaldo, 27 May 2021

Gartner Disclaimer

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission.

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be constructed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Mobileum Inc.

Mobileum is a leading provider of Telecom analytics solutions for roaming, core network, security, risk management, domestic and international connectivity testing, and customer intelligence. More than 1,000 customers rely on its Active Intelligence platform, which provides advanced analytics solutions, allowing customers to connect deep network and operational intelligence with real-time actions that increase revenue, improve customer experience, and reduce costs.  Headquartered in Silicon Valley, Mobileum has global offices in Australia, Dubai, Germany, Greece, India, Portugal, Singapore, and UK.

More in www.mobileum.com and follow @MobileumInc on Twitter.

Learn more in https://www.mobileum.com/  and follow @MobileumInc on Twitter.

 

PR Newswire

TradeUP Acquisition Corp. Announces the Separate Trading of its Common Stock and Warrants, Commencing September 7, 2021

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NEW YORK, Sept. 3, 2021 — TradeUP Acquisition Corp. (NASDAQ: UPTDU) ("TradeUP Acquisition" or the "Company") announced today that, commencing September 7, 2021, holders of the Units (the "Units") sold in the Company’s initial public offering ("IPO") and the over-allotment of 4,430,000 Units may elect to separately trade the shares of common stock and warrants included in the Units. Any Units not separated will continue to trade on the NASDAQ Capital Market ("NASDAQ") under the symbol "UPTDU". Any underlying common stock and warrants that are separated will trade on the NASDAQ under the symbols "UPTD" and "UPTDW," respectively. No fractional warrants will be issued upon separation of the Units and only whole warrants will trade. Holders of Units will need to have their brokers contact the Company’s transfer agent, VStock Transfer, LLC, in order to separate the holders’ Units into common stock and warrants.

The Units were initially offered by the Company in an underwritten offering. US Tiger Securities, Inc. acted as the lead book running manager in the offering. EF Hutton, division of Benchmark Investments, LLC and R.F. Lafferty & Co., Inc. acted as joint book running managers. R.F. Lafferty & Co., Inc. also acted as a qualified independent underwriter.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission ("SEC") and became effective on July 14, 2021. The offering was made only by means of a prospectus, copies of which may be obtained, when available, by contacting US Tiger Securities, Inc., 437 Madison Avenue, 27th Floor, New York, New York 10022; email: IB@ustigersecurities.com. Copies of the registration statement can be accessed through the SEC’s website at www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About TradeUP Acquisition Corp.

TradeUP Acquisition Corp. is a newly organized blank check company incorporated as a Delaware corporation formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company’s efforts to identify a prospective target business will not be limited to a particular industry or geographic region, although the Company intends to focus a search for a target business in the technology industry.

Forward Looking Statements

This press release may include "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. All statements other than statements of historical fact included in this press release are forward-looking statements. Forward-looking statements are subject to numerous conditions, risks and changes in circumstances, many of which are beyond the control of the Company, including those set forth in the "Risk Factors" section of the Company’s registration statement, as amended from time to time, and prospectus for the offering filed with the SEC. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

 

PR Newswire

uCloudlink Cooperates with Singapore EdTech Company JULES to Bring Fail-proof Connection Solution to the Education Sector

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Using HyperConn™, the company provides reliable internet connections to allow students to enjoy uninterrupted learning.

HONG KONG, Sept. 3, 2021 — UCLOUDLINK GROUP INC. (NASDAQ: UCL, "uCloudlink"), a company offering the better connection solution to everyone globally via its innovative technology, has joined forces with JULES Corporation Pte Ltd ("JULES"), a Singapore Social-Enterprise and award-winning global software Education Technology company, in exploring ways to solve the pain point of schools, parents and students to allow young students to stay connected at home by way of its powerful HyperConn™ solution as a demonstration of what is possible for the education sector.

In a recent UNICEF report with International Telecommunication Union (ITU), up to two-thirds of students of the world’s school-age children do not have internet connections. The problem has escalated during the heights of the COVID pandemic when online school is not only an option, but the only choice in many regions for an extended period of time.

"Internet connection became a must-have in this new normal. For online learning, reliable equipment like computers and iPads are not enough, a reliable internet connection is also crucial. Poor internet connections and online congestion will occur from time to time under the circumstance of a network supported by one single operator. uCloudlink’s HyperConn™ solution will make use of all WiFi/5G/4G wireless networks, which enables it to provide a good and uninterrupted network connection," said Chaohui Chen, CEO of uCloudlink. "We believe by widely adopting a flexible, reliable and efficient technology, remote schooling will be significantly improved by delivering students an undisrupted and focused learning experience."

"During the pandemic, we have seen millions of students around the world grappled with bad internet services which severely affected their academic performance. We believe uCloudlink’s HyperConn™ solution, which has brought so much convenience to the frequent travellers and businesspersons who are in need of fast-speed internet unbound by locations and time, will also be an easy and affordable answer to this problem for students, parents and educators alike," said Mr. Jonathan Chan, Founder and CEO of Jules.

uCloudlink’s HyperConn™ ensures an uninterrupted network connection at all times, no matter the environment and conditions. By leveraging AI to determine the most effective network coverage based on a user’s present location, internet usage and performance of all broadband networks available, HyperConn™ ensures that users enjoy the better network connection possible at all times. This dynamic and seamless switching also guarantees the network will never fail regardless of what apps are open, how many people are using the connection, or where a user is.

The COVID-19 pandemic has not only put the potentials of online education but also exposed the flaws the digital learning which is amplified by the over-stretched Wi-Fi or poor internet connections due to online congestion. Using uCloudlink’s HyperConn™ solution, the partnership of uCloudlink and Jules aims to address this challenge, keep teachers and students staying connected amid the pandemic and beyond and free students from the limits of traditional home broadband connection, the unstable internet coverage at public facilities as well as the pain of poor mobile internet while parents and kids are on the go.

About UCLOUDLINK GROUP INC

uCloudlink is the world’s first and leading mobile data traffic sharing marketplace, pioneering the sharing economy business model for the telecommunications industry. The Company’s products and services deliver unique value propositions to mobile data users, handset and smart-hardware companies, mobile virtual network operators (MVNOs) and mobile network operators (MNOs). Leveraging its innovative cloud SIM technology and architecture, the Company has redefined the mobile data connectivity experience by allowing users to gain access to mobile data traffic allowance shared by network operators on its marketplace, while providing reliable connectivity, high speeds and competitive pricing.

Contact:

Carina Cheung
carina-pr@ucloudlink.com
(852)21806111