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PR Newswire

WWF Announced Strategic Partnership with Kuaishou on Global Tiger Day to Protect Wild Tigers

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BEIJING, Aug. 1, 2020 — On July 29, Global Tiger Day, Tencent-backed Chinese short-video platform Kuaishou and World Wide Fund for Nature (WWF), co-launched a charity livestream event for wild tiger protection. Themed "Intangible Cultural Heritage, Guard the Return of the King", the two-hour livestream session received nearly 10 million views.

The livestreaming session showcases the making of 30 forms of tiger theme artworks with different traditional Chinese intangible cultural heritage techniques.

 "This charity event creatively combines endangered wild tiger and intangible cultural heritages, both of which are facing the issue of inheritance and sustainable development," said Liu Peiqi, Director of WWF China Northeast China Project. "We are happy to join hands with a powerful platform like Kuaishou and find that more people are aware of the protection of wild Siberian tigers and even the global wild tigers," added Liu.

"In traditional Chinese culture, the tiger is considered the king of all beasts, symbolizing power, justice, and protection," explained Qi Hang, regional cooperation director of Kuaishou. "As tigers are experiencing unprecedented threats due to illegal trade in tiger parts, we team up with WWF and intangible cultural heritage craftsmen, calling on the public to protect the natural environment and refuse consumption of tiger products." 

Shadow play "The Return of the King" created by Wei Zongfu, Inheritor of Huan County Taoism Shadow Puppet Play
Shadow play "The Return of the King" created by Wei Zongfu, Inheritor of Huan County Taoism Shadow Puppet Play

 

Sugar painting tiger created by Wei Shengguo, inheritor of Sugar Painting technique
Sugar painting tiger created by Wei Shengguo, inheritor of Sugar Painting technique

During the live-streaming, WWF introduced how illegal trade in tiger parts threatens the wild tiger population, and reiterate its commitment to protecting the species in the coming years. 

WWF’s philosophy and commitment received wide popularity on the Kuaishou platform that it wins over 54,000 followers within three days since joining.

About World Wide Fund for Nature (WWF)

WWF, founded in 1961 and headquartered in Gland, Switzerland, is one of the world’s largest and most respected conservation organizations, aiming to build a future in which humans can live in harmony with nature. WWF officially joined Kuaishou on July 28. Through charity events co-launched with Kuaishou, WWF aims to increase public awareness of wild tiger protection.

About Kuaishou Technology

Kuaishou Technology develops content sharing platforms and makes content production, distribution and consumption fast and easy. Our content recommendation system is built on a deep understanding of our users and the content being shared on our platforms every day.

Our flagship product, Kuaishou, is China’s leading short video-sharing and social networking platform that enables users to capture the unique and memorable moments of their everyday lives and to interact with followers in real-time. Our technology offers users a highly personalized experience and encourages members from all communities to create and discover exciting and dynamic content.

Founded in 2011, Kuaishou Technology is headquartered in Beijing, with more than 10,000 employees and offices in China, the United States, India and Brazil. Our notable investors include DCM Ventures, Morningside Venture Capital, Sequoia Capital, Temasek Holdings, Tencent and Baidu. For more information, please visit www.kuaishou.com.

  • March 2011 GIF Kuaishou was created as a tool for creating animated GIFs
  • October 2013 GIF Kuaishou was transformed into a short-form video social platform – Kuaishou
  • January 2015 Kuaishou’s DAU (daily active user) exceeded 10 million
  • September 2017 Kuaishou’s total users exceeded 600 million while DAU exceeded 80 million
  • December 2017 Kuaishou’s DAU exceeded 100 million
  • June 2018 Kuaishou Technology completed the acquisition of Acfun, an ACG video community
  • May 2019 Kuaishou’s DAU exceeded 200 million
  • March 2020 Kuaishou’s DAU exceeded 300 million
  • July 2020 Kuaishou’s Livestream DAU surpassed 170 million

To download Kuaishou, click here.

CONTACT:

Zhang Chuanshi
zhangchuanshi@kuaishou.com
+86-134-8881-8382

 

 

PR Newswire

iQIYI Original Interactive VR Film “Killing a Superstar” Shortlisted for Award at 77th Venice International Film Festival

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Film offers an immersive audio-visual experience using cutting-edge 360°+8K HD VR technology

BEIJING, July 31, 2020 — iQIYI Inc. (NASDAQ: IQ) ("iQIYI" or the "Company"), an innovative market-leading online entertainment service in China, today announced that its original interactive virtual reality (VR) film Killing a Superstar (the "Film") has been shortlisted for an award in the Venice VR Expanded category at the prestigious Venice International Film Festival, the second time that the Company’s original VR content has been recognized in a major international film festival.

iQIYI Original Interactive VR Film “Killing a Superstar” Shortlisted for Award at 77th Venice International Film Festival
iQIYI Original Interactive VR Film “Killing a Superstar” Shortlisted for Award at 77th Venice International Film Festival

Killing a Superstar is a suspense film that tells the interwoven stories of various characters confined in a luxury villa where a sudden homicide took place. iQIYI’s VR team used 360°+8K HD VR technology to create the best-in-class original VR interactive content based on an original script. The film is the first to adopt multiple parallel narratives in immersive drama, using panoramic observation and multi-viewpoint switching. By giving the audience the freedom to switch between scenes at any time, Killing a Superstar invites users to explore the film’s storyline and narrative logic. Users can also identify clues and complete tasks while watching to create a unique and engaging experience. The VR film supports 8K HD format and Dolby Atmos, delivering an unprecedented premium immersive VR interactive audio-visual experience.

Killing a Superstar‘s recognition by the Venice International Film Festival is the latest example of how iQIYI’s original VR content is garnering international attention and acclaim. The nomination means that Killing a Superstar has not only been highly recognized by the industry worldwide, but also demonstrates once again that iQIYI remains at the forefront of the VR revolution.

"As a major immersive 8K HD VR project for iQIYI this year and the first film for its VR Interactive Theater, Killing a Superstar defies traditional movie-watching conventions as the understanding of its narrative logic is dictated by the audience rather than the director, giving viewers greater freedom for engagement," Zhang Hang, Vice President of iQIYI said. "The inclusion of Killing a Superstar in the Venice International Film Festival shows that iQIYI’s tech-driven innovative VR content has achieved another industry breakthrough globally. As an innovative expression form for the VR industry, the interactive VR content will help boost the growth potential of the VR industry by tapping into the value and popularity of IP productions."

As one of the first domestic technology and entertainment companies to tap into the VR market, iQIYI has steadily established a VR lineup covering dramas, films, variety shows and gaming. To date, iQIYI has launched a number of VR titles, ranging from dramas (Ghost Blows Out the Light: Mu Ye Gui Shi, Infernal Affairs VR series, City Strange Talk) and films (the Last One Standing VR, Attention VR), to interactive content derived from dramas and variety shows such as Idol Producer, the Rap of China and iPartment Season 5, cartoons (TUKTAKMAN VR) and games (Chinese Paladin 4 VR, The Knight of Shadows Between Yin and Yang VR). Many of these have won critical acclaim and recognition. For example, in 2018, The Last One Standing VR was also shortlisted for an award at the 75th Venice International Film Festival, becoming the first Chinese science fiction VR film to receive the honor.

Going forward, iQIYI’s VR business will continue to launch premium original interactive VR content, creating innovative audio-visual experiences powered by cutting-edge technology. The Company will also strive to explore new genres and applications for interactive VR, opening up new avenues for the burgeoning industry.

Killing a Superstar is released on July 31 to iQIYI users in China’s mainland on the iQIYI VR APP or the Qiyu all-in-one VR headset platform. The Film will premiere online at the Venice International Film Festival from September 2 – 12.

About iQIYI, Inc.

iQIYI, Inc. is an innovative market-leading online entertainment service in China. Its corporate DNA combines creative talent with technology, fostering an environment for continuous innovation and the production of blockbuster content. iQIYI’s platform features highly popular original content, as well as a comprehensive library of other professionally-produced content, partner-generated content and user generated content. The Company distinguishes itself in the online entertainment industry by its leading technology platform powered by advanced AI, big data analytics and other core proprietary technologies. iQIYI attracts a massive user base with tremendous user engagement, and has developed a diversified monetization model including membership services, online advertising services, content distribution, live broadcasting, online games, IP licensing, online literature and e-commerce.

Related Links :

http://www.iqiyi.com

PR Newswire

111 to Announce Second Quarter 2020 Unaudited Financial Results on August 20, 2020

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SHANGHAI, July 31, 2020 — 111, Inc. (NASDAQ: YI) ("111" or the "Company"), a Company dedicated to digitally connecting patients with drugs and healthcare services in China, today announced that it will report its unaudited financial results for the second quarter ended June 30, 2020, before the U.S. market opens on Thursday, August 20, 2020.

111’s management team will host an earnings conference call at 7:30 AM U.S. Eastern Time on Thursday, August 20, 2020 (7:30 PM Beijing Time on the same day).

Details for the conference call are as follows:

Event Title:                       

111, Inc. Second Quarter 2020 Earnings Conference Call

Registration Link:            

http://apac.directeventreg.com/registration/event/7482148

All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registering, each participant will receive a set of participant dial-in numbers, the Direct Event passcode, and a unique Registration ID, which can be used to join the conference call.

Please dial in 15 minutes before the call is scheduled to begin and provide the Direct Event passcode and unique Registration ID you have received upon registering to join the call.

A telephone replay of the call will be available after the conclusion of the conference call until August 28, 2020, 09:59 P.M. ET on:

United States:                    

+1-855-452-5696

International:                      

+61-2-8199-0299

Conference ID:                   

7482148

A live and archived webcast of the conference call will be available on the Investor Relations section of 111’s website at http://ir.111.com.cn/.

About 111, Inc.

111, Inc. (NASDAQ: YI) ("111" or the "Company") is a Company dedicated to digitally connecting patients with drugs and healthcare services in China. The Company provides hundreds of millions of consumers with better access to pharmaceutical products and medical services directly through its online retail pharmacy and indirectly through its offline pharmacy network. 111 also offers online medical services through its internet hospital, 1 Clinic, which provides consumers with cost-effective and convenient online consultation and electronic prescription services. In addition to providing direct services to consumers through its online retail pharmacy, 111 also enables offline pharmacies to better serve their customers.  The Company’s online wholesale pharmacy, 1 Drug Mall, serves as a one-stop shop for pharmacies to source a vast selection of pharmaceutical products. The Company’s New Retail platform, by integrating the front and back ends of the pharmaceutical supply chain, has formed a smart supply chain, which transforms the flow of pharmaceutical products to pharmacies and modernizes how they serve their customers.

For more information on 111, please visit: http://ir.111.com.cn/.

For more information, please contact:

111, Inc.
Investor Relations
Email: ir@111.com.cn

111, Inc.
Media Relations 
Email: press@111.com.cn 
Phone: +86-021-2053 6666 (China)

GCM Strategic Communications
IR Counsel
Email: 111.ir@gcm.international

Related Links :

http://www.yiyaowang.com

PR Newswire

Global buyers attend Global Sources Online Show to experience a new era of sourcing

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HONG KONG, July 31, 2020 — The Global Sources Online Show (GSOS) officially kicked off on July 29 with over 500,000 page views on the first day. Over 1,700 buyers enrolled for business matching services and around 20,000 business meeting recommendations were provided with compatible suppliers.

The first week of GSOS focuses on the themes of “Medical & Healthcare” and “Study & Work from Home”, featuring the most in-demand medical equipment, health products, personal protective equipment, hygiene and cleaning supplies, as well as consumer and mobile electronics, home appliances, gifts, office supplies, luggage and leisure products, shoes, textiles and clothing, and home decoration products. The “Home & Hardware” theme is scheduled to come in the following week (from August 3 to 9) with a curated selection of hardware and tools, building materials, energy management products, furniture, decorations, lighting, electrical products, smart home products, home storage and organizers.

So far, GSOS has recorded more than 800,000 page views from over 140 countries and regions, with Hong Kong, the United States, mainland China, India, Australia, Singapore, the United Kingdom, Malaysia, the Philippines and Japan as the top ten geographic origins. These buyers’ business types include wholesalers, intermediaries (agent/consultant/distributor), online sellers and buying offices.

The online sourcing event provides 24/7/365 business service during show periods, allowing buyers to find and contact suppliers who can meet their sourcing requirements, receive quotations and arrange private online meetings. As well as the virtual booths, the show features a Main Hall, Themed Product Pavilions, supplier stories and product videos, and 40 seminars conducted by 50 expert speakers, with a range of sourcing topics in English, Spanish, Portuguese, Mandarin, and Cantonese. Performances provided by 22 world-class singers, dancers, magicians and other entertainers make the show the world’s only online sourcing event featuring entertainment segments.

“Global Sources has been dedicated to promoting trade for 50 years,” said Hu Wei, CEO of Global Sources. “As the only O2O platform in China’s export industry, Global Sources makes tireless efforts to meet buyers’ ever-changing sourcing requirements.

“In addition to all the features of GS Match, GSOS enables buyers and suppliers to interact through online meetings instant chats. Quality buyer communities and GS verified suppliers offering a new sourcing experience fitting in today’s demand.”

For registration, please visit https://bit.ly/3fWHFj9

Logo – http://www.prnasia.com/sa/200708071747.jpg

PR Newswire

GigaMedia Announces Second-Quarter 2020 Financial Results

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TAIPEI, July 31, 2020 — GigaMedia Limited (NASDAQ: GIGM) today announced its second-quarter 2020 unaudited financial results.

Comments from Management

In the second quarter of 2020, GigaMedia reported revenues of $1.83 million, with a gross profit $0.98 million, an operating loss of $0.55 million and the net loss of $0.42 million. Total revenues increased by 13.8% if compared to the previous quarter.

"In spite of the ongoing disruption of the pandemic to our operations, we have achieved clear improvements," said GigaMedia CEO James Huang. "We have reshaped our cost structure and remodeled our marketing strategies, thereby approximately halved the operating loss if comparing to the same quarter last year."

"And we are also enhancing the playability and stickiness of FunTown M, our in-house developed mobile platform of casual games," continued GigaMedia CEO James Huang, "which will be the most crucial piece to fall in place for our turning profitable beyond just break-even."

Second Quarter Overview

  • Operating revenues increased by approximately 13.8% quarter-on-quarter, to $1.83 million from $1.60 million in last quarter, and 4.3% year-over-year from $1.75 million the same period last year. The increase was mainly attributable to our efforts in revitalizing Tales Runner, a 14-year-old licensed game we operate in Hong Kong.
  • Gross profit increased slightly by 5.5% to $0.98 million from $0.93 million in last quarter, and increased by 27.2% compared to $0.77 million in the same period last year.
  • The net asset value was $4.96 per share.

Unaudited Consolidated Financial Results

GigaMedia Limited is a diversified provider of digital entertainment services. GigaMedia’s digital entertainment service business FunTown develops and operates a suite of digital entertainments in Taiwan and Hong Kong, with focus on browser/mobile games and casual games.

Unaudited consolidated results of GigaMedia are summarized in the table below.

For the Second Quarter

GIGAMEDIA 2Q20 UNAUDITED CONSOLIDATED FINANCIAL RESULTS

(unaudited, all figures in US$ thousands, except
per share amounts)

2Q20

1Q20

Change

(%)

2Q20

2Q19

Change

(%)

Revenues

1,826

1,604

13.8

%

1,826

1,750

4.3

%

Gross Profit

978

927

5.5

%

978

769

27.2

%

Loss from Operations

(549)

(640)

NM

(549)

(1,122)

NM

Net Loss Attributable to GigaMedia

(419)

(286)

NM

(419)

(614)

NM

Net Loss Per Share Attributable to

   GigaMedia, Diluted

(0.04)

(0.03)

NM

(0.04)

(0.06)

NM

EBITDA (A)

(634)

(536)

NM

(634)

(1,000)

NM

Cash, Cash Equivalents and

   Restricted Cash

56,783

57,311

(0.9)

%

56,783

58,015

(2.1)

%

NM= Not Meaningful

(A)  EBITDA (earnings before interest, taxes, depreciation, and amortization) is provided as a supplement to
results provided in accordance with U.S. generally accepted accounting principles ("GAAP"). (See, "Use
of Non-GAAP Measures," for more details.) 

Second-Quarter Financial Results

  • Consolidated revenues for the second quarter of 2020 increased by 13.8% quarter-on-quarter to $1.83 million from $1.60 million in last quarter, and by 4.3% year-over-year from $1.75 million the same period last year.
  • Consolidated gross profit was $0.98 million, increased by 5.5% quarter-on-quarter and 27.2% year-over-year.
  • Consolidated operating expenses were $1.53 million, comparable to the first quarter of 2020 and decreased by 19.3% if compared to the same period last year, which reflected a decrease in marketing expenses and general expenses.
  • Consolidated loss from operation of the second quarter of 2020 was a loss of $0.55 million, reflecting an improvement from a loss of $0.64 million in the first quarter.
  • Net loss in the second quarter of 2020 was $0.42 million, increasing from a net loss of $0.29 million in the first quarter this year mainly due to lower interest income and exchange loss in this quarter. 
  • Cash, cash equivalents and restricted cash at the end of the second quarter of 2020 amounted to $56.8 million, slightly decreased by 0.9% from $57.3 million as of the end of the first quarter.

Financial Position

GigaMedia maintained its solid financial position, with cash, cash equivalents and restricted cash amounted to $56.8 million, or $5.14 per share, as of June 30, 2020.

Business Outlook

The following forward-looking statements reflect GigaMedia’s expectations as of July 30, 2020. Given potential changes in economic conditions and consumer spending, the evolving nature of digital entertainments, and various other risk factors, including those discussed in the Company’s 2019 Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission as referenced below, actual results may differ materially.

In the second half of 2020, we will continue improving productivities of the existing games, in which FunTown M, our own mobile platform of casual games, is expected to begin contributing to our revenues. Along with our various product lines and customer platform, we will gradually accumulate the momentum to an upward trend.  

Meanwhile, our management continues evaluating and pursuing prospects of strategic investment targets that are with potential to expand our business and create greater shareholder value.

Use of Non-GAAP Measures

To supplement GigaMedia’s consolidated financial statements presented in accordance with US GAAP, the Company uses the following measure defined as non-GAAP by the SEC: EBITDA. Management believes that EBITDA (earnings before interest, taxes, depreciation, and amortization) is a useful supplemental measure of performance because it excludes certain non-cash items such as depreciation and amortization and that EBITDA is a measure of performance used by some investors, equity analysts and others to make informed investment decisions. EBITDA is not a recognized earnings measure under GAAP and does not have a standardized meaning. Non-GAAP measures such as EBITDA should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, other financial measures prepared in accordance with GAAP. A limitation of using EBITDA is that it does not include all items that impact the company’s net income for the period. Reconciliations to the GAAP equivalents of the non-GAAP financial measures are provided on the attached unaudited financial statements.

About the Numbers in This Release

Quarterly results

All quarterly results referred to in the text, tables and attachments to this release are unaudited. The financial statements from which the financial results reported in this press release are derived have been prepared in accordance with U.S. GAAP, unless otherwise noted as "non-GAAP," and are presented in U.S. dollars.

Q&A

For Q&A regarding the second quarter 2020 performance upon the release, investors may send the questions via email to IR@gigamedia.com.tw, and the responses will be replied individually.

About GigaMedia

Headquartered in Taipei, Taiwan, GigaMedia Limited (Singapore registration number: 199905474H) is a diversified provider of digital entertainment services in Taiwan and Hong Kong. GigaMedia’s digital entertainment service business is an innovative leader in Asia with growing capabilities of development, distribution and operation of digital entertainments, as well as platform services for games with a focus on mobile games and casual games. More information on GigaMedia can be obtained from www.gigamedia.com.tw.

The statements included above and elsewhere in this press release that are not historical in nature are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding expected financial performance (as described without limitation in the "Business Outlook" section and in quotations from management in this press release) and GigaMedia’s strategic and operational plans. These statements are based on management’s current expectations and are subject to risks and uncertainties and changes in circumstances. There are important factors that could cause actual results to differ materially from those anticipated in the forward looking statements, including but not limited to, our ability to license, develop or acquire additional online games that are appealing to users, our ability to retain existing online game players and attract new players, and our ability to launch online games in a timely manner and pursuant to our anticipated schedule. Further information on risks or other factors that could cause results to differ is detailed in GigaMedia’s Annual Report on Form 20-F filed in April 2020 and its other filings with the United States Securities and Exchange Commission.

(Tables to follow)

 

GIGAMEDIA LIMITED

CONSOLIDATED STATEMENTS OF OPERATIONS

Three months ended

Six months ended

06/30/2020

03/31/2020

06/30/2019

06/30/2020

06/30/2019

unaudited

unaudited

unaudited

unaudited

unaudited

USD

USD

USD

USD

USD

Operating revenues

Digital entertainment service revenues

1,825,547

1,603,904

1,749,583

3,429,450

3,232,816

Other revenues

—

—

—

—

—

1,825,547

1,603,904

1,749,583

3,429,450

3,232,816

Operating costs

Cost of digital entertainment service

    revenues

847,906

677,194

980,448

1,525,099

1,725,350

Cost of other revenues

—

—

—

—

—

847,906

677,194

980,448

1,525,099

1,725,350

Gross profit

977,641

926,710

769,135

1,904,351

1,507,466

Operating expenses

Product development and engineering

   expenses

332,745

328,815

325,144

661,560

645,638

Selling and marketing expenses

367,529

410,475

580,539

778,004

1,106,542

General and administrative expenses

825,998

824,442

974,648

1,650,440

1,810,634

Other

(42)

2,984

11,165

2,942

16,380

1,526,230

1,566,716

1,891,496

3,092,946

3,579,194

Loss from operations

(548,589)

(640,006)

(1,122,361)

(1,188,595)

(2,071,728)

Non-operating income (expense)

Interest income

212,881

255,719

414,450

468,600

796,250

Foreign exchange (loss) gain – net

(82,357)

98,887

90,922

16,529

79,520

Other – net

(1,404)

(298)

3,416

(1,702)

50,328

129,120

354,308

508,788

483,427

926,098

Loss before income taxes

(419,469)

(285,698)

(613,573)

(705,168)

(1,145,630)

Income tax benefit (expense)

—

—

—

—

—

Net loss attributable to shareholders of
GigaMedia

(419,469)

(285,698)

(613,573)

(705,168)

(1,145,630)

Loss per share attributable to GigaMedia

   Basic

(0.04)

(0.03)

(0.06)

(0.06)

(0.10)

   Diluted

(0.04)

(0.03)

(0.06)

(0.06)

(0.10)

Weighted average shares outstanding:

Basic

11,052,235

11,052,235

11,052,235

11,052,235

11,052,235

Diluted

11,052,235

11,052,235

11,052,235

11,052,235

11,052,235

 

GIGAMEDIA LIMITED

CONSOLIDATED BALANCE SHEETS

06/30/2020

03/31/2020

06/30/2019

unaudited

unaudited

unaudited

USD

USD

USD

Assets

Current assets

Cash and cash equivalents

56,247,678

56,777,472

57,489,563

Accounts receivable – net

349,450

355,225

591,905

Prepaid expenses

228,794

276,010

275,551

Restricted cash

535,153

533,436

525,354

Other receivables

203,671

238,396

458,383

Other current assets

142,230

148,757

131,150

Total current assets

57,706,976

58,329,296

59,471,906

Property, plant & equipment – net

7,740

8,117

92,580

Intangible assets – net

17,111

17,965

23,545

Prepaid licensing and royalty fees

184,365

210,530

574,274

Other assets

290,687

285,319

1,035,529

Total assets

58,206,879

58,851,227

61,197,834

Liabilities and equity

Accounts payable

69,147

60,405

119,597

Accrued compensation

278,622

156,948

253,262

Accrued expenses

1,321,262

1,449,553

1,340,539

Unearned revenue

1,058,940

1,285,399

1,617,881

Other current liabilities

627,162

715,877

197,776

Total current liabilities

3,355,133

3,668,182

3,529,055

Other liabilities

3,653

7,337

781,187

Total liabilities

3,358,786

3,675,519

4,310,242

GigaMedia’s shareholders’ equity

54,848,093

55,175,708

56,887,592

Total liabilities and equity

58,206,879

58,851,227

61,197,834

GIGAMEDIA LIMITED

RECONCILIATIONS OF NON-GAAP RESULTS OF OPERATIONS

Three months ended

Six months ended

06/30/2020

03/31/2020

06/30/2019

06/30/2020

06/30/2019

unaudited

unaudited

unaudited

unaudited

unaudited

USD

USD

USD

USD

USD

Reconciliation of Net Loss to EBITDA

Net loss attributable to GigaMedia

(419,469)

(285,698)

(613,573)

(705,168)

(1,145,630)

Depreciation

535

354

14,769

889

40,156

Amortization

(2,257)

4,657

12,830

2,400

25,729

Interest income

(212,881)

(255,719)

(414,450)

(468,600)

(796,250)

Interest expense

—

—

—

—

—

Income tax (benefit) expense

—

—

—

—

—

EBITDA

(634,072)

(536,406)

(1,000,424)

(1,170,479)

(1,875,995)

 

 

Related Links :

http://www.gigamedia.com

http://www.gigamedia.com.tw

PR Newswire

Cinemas reopen across China after unprecedented closure

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BEIJING, July 30, 2020 — A news report by China.org.cn on the reopening of China’s cinemas:

 

 

Since last week, cinemas in low-risk regions of China have reopened for business. This means that after six months in the dark, the country’s movie theaters can finally accept customers again, and China’s film market can begin where it left off.

According to the pandemic control requirements, movie theaters are now required to keep attendance under 30% capacity for each screening and strictly disinfect venues every day. Moviegoers must undergo temperature checks prior to admission, should sit in non-adjacent seats, and need to wear face masks when watching films. Currently, theaters are mainly screening hit domestic and foreign films, such as “The Wandering Earth”, “Coco” and “Zootopia.” Several new domestic movies are also set for release in the coming months.

On the first day of reopening, cinemas in cities such as Nanjing, Chengdu and Hangzhou quickly sold out. With the Shanghai International Film Festival opening on July 25 and screening more than 300 films, tickets for the event also sold out almost entirely in three minutes. In total, over 100,000 tickets were sold within just 10 minutes of presales being launched.

This year, the COVID-19 pandemic has resulted in an unprecedented shutdown of the global movie industry. China’s film market has also encountered huge difficulties. By March this year, more than 2,000 cinema enterprises had closed permanently across the country, with estimated losses in box office revenue for the year amounting to more than 30 billion yuan (US$4.27 billion).

China is the world’s second largest film market. During the past two decades, with increases in economic development and consumption, and through the opening-up of markets and deepening reforms, the Chinese film market has maintained rapid growth in terms of market scale and production. In 2019, the country had nearly 70,000 screens, while the annual box office gross peaked as high as 64.27 billion yuan (US$9.17 billion). This shows that China’s film market has robust demand and potential, which will be unleashed gradually over time.

Although there are still many complex and difficult problems facing cinemas as they resume operations, the reopening is significant. It conveys positive signals that China’s economy is starting to recover from the pandemic, and social life is beginning to get back on track. For the global film market, the reopening of Chinese cinemas is also good news. Hopefully, it won’t be long before China’s film market resumes to its usual prosperity.

China Mosaic
http://www.china.org.cn/video/node_7230027.htm

Cinemas reopen across China after unprecedented closure
http://www.china.org.cn/video/2020-07/30/content_76329991.htm

 
PR Newswire

Performing live on Kuaishou, Lang Lang comes back after 6-month hiatus

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BEIJING, Jul 30, 2020 — The world-renowned Chinese pianist Lang Lang performed publicly for the first time in six months on Kuaishou, a livestreaming platform. Lang hosted the one-hour broadcast, which attracted over 3 million viewers and fans.

Entertaining the crowd with a mix of songs, stories and games, Lang, China’s badminton Olympic champion Cai Yun, and the popular Queen of Nine-ball Pan Xiaoting also guest-starred on the show. The trio reminisced about the games they played during their childhood, starting from the 80s all the way to the 2000s, and also showcased their skills through sport and music challenges.

Classical music superstar Lang Lang participated in a livestreaming session on Kuaishou, a short-video and livestreaming platform on Tuesday.
Classical music superstar Lang Lang participated in a livestreaming session on Kuaishou, a short-video and livestreaming platform on Tuesday.

 

When recalling his childhood in the 90s, Lang played one of his initiation-phase favorites, Étude Op. 10, No. 5 in G♭ major by Frédéric Chopin, wowing the online audience.

 

 

Lang Lang: Étude Op. 10, No. 5 in G♭ major (Frédéric Chopin)/ 1994 Mix 2020 Live on Kuaishou

This isn’t the first livestream hosted by Lang, as his last livestream, also on Kuaishou, was a Valentine special held earlier this year in honor of supporting efforts against COVID-19.

Hosted by Kuaishou, Lang’s livestream attracted mainstream success, with over 3 million tuning in and participating through the comments and gifts. The popularity of such shows has shown that the shift in momentum to livestream apps such as Kuaishou is here to stay. With more crossover content such as Lang’s show, Kuaishou is pioneering a new wave of viral content to make livestreaming more prevalent in popular culture.

“By uniting fanbases and fostering more communication, Kuaishou aims to build resilient communities across genres and backgrounds,” said Yan Qiang, senior vice-president of Kuaishou.

About Kuaishou Technology

Kuaishou Technology develops content sharing platforms and makes content production, distribution and consumption fast and easy. Our content recommendation system is built on a deep understanding of our users and the content being shared on our platforms every day.

Our flagship product, Kuaishou, is China’s leading short video sharing and social networking platform that enables users to capture the unique and memorable moments of their everyday lives, and to interact with followers in real-time. Our technology offers users a highly personalized experience and encourages members from all communities to create and discover interesting and dynamic content.

Founded in 2011, Kuaishou Technology is headquartered in Beijing with more than 10,000 employees and offices in China, the United States, India and Brazil. Our notable investors include DCM Ventures, Morningside Venture Capital, Sequoia Capital, Temasek Holdings, Tencent and Baidu. For more information, please visit www.kuaishou.com.

  • March 2011 GIF Kuaishou was created as a product tool for creating animated GIFs
  • October 2013 GIF Kuaishou was transformed into a short-form video social platform – Kuaishou
  • January 2015 Kuaishou’s DAU (daily active user) exceeded 10 million
  • September 2017 Kuaishou’s total users exceeded 600 million and DAU exceeded 80 million
  • December 2017 Kuaishou’s DAU exceeded 100 million
  • June 2018 Kuaishou Technology completed the acquisition of Acfun, an ACG video community
  • May 2019 Kuaishou’s DAU exceeded 200 million
  • March 2020 Kuaishou’s DAU exceeded 300 million
  • July 2020 Kuaishou’s Livestream DAU surpassed 170 million

To download Kuaishou, click here.

 

Related Links :

http://www.kuaishou.com

PR Newswire

DoctorxDentist Identifies The Top 10% of Doctors in Singapore

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Patients are 65% more likely than they were prior to the onset of coronavirus to choose a healthcare provider based on the quality of care they will receive, according to the COVID-19 Patient Confidence Study.

SINGAPORE, July 30, 2020 — DoctorxDentist, the leading online resource for information about doctors in Singapore, today released its 2020 analysis of best performing physicians. 

“The goal of the DxD10 Trusted Reviews Award is to acknowledge physicians who are consistently highly rated” said Tristan Hahner, CEO of DoctorxDentist. “As healthcare gets more complicated and more choices for care become available, it’s important to provide information that helps consumers easily identify providers who make patient experience a top priority. This is our way of recognizing physicians for their commitment to outstanding care, based on opinions of those who know them best – their patients.”

DxD10 Trusted Reviews Award Recognizes Outstanding Healthcare Providers, Based on Patient Feedback

Each year, only 10% of doctors in Singapore are named a DxD10 Trusted Reviews Award recipient. DoctorxDentist evaluated the performance of 10,112 doctors and dentists nationwide by compiling and analyzing thousands of ratings and reviews of patients from across Singapore and Southeast Asia. The evaluation found that:

  • Winners had an average of 22 reviews, while the average doctor in Singapore had less than 5 reviews.
  • Award recipients maintained an average rating of 4.5 or higher out of a 5-star rating system.
  • Doctors with a minimum rating of 4.5 stars get seven times as many appointments as doctors with a rating less than 4.5 stars.
  • Doctors with at least 5 reviews get 74% of online appointments.
  • Reviews most often mentioned a doctor’s clinical skill or bedside manner. 
Dr Marlene Teo from An Dental Clinic, recipient of DxD10 Trusted Reviews Award for 2020.
Dr Marlene Teo from An Dental Clinic, recipient of DxD10 Trusted Reviews Award for 2020.

“It’s been my dream to help patients demystify dental issues,” said Dr Marlene Teo, an award recipient. “I’m really honored to receive the ‘DxD10 Trusted Reviews Award’ as an affirmation that we are building trust and rapport with our patients.”

About DoctorxDentist

DoctorxDentist.com is the fastest-growing doctor discovery platform in Singapore and South East Asia. Millions of consumers each year find and schedule appointments with their provider of choice at DoctorxDentist.

By enhancing each touchpoint in the patient journey — from the first impression online, to appointment booking and review harvesting post-appointment — DoctorxDentist makes it easy for healthcare providers to attract more patients, manage online reputation and modernize the patient experience. Learn more about how physicians partner with DoctorxDentist. 

Photo – https://photos.prnasia.com/prnh/20200723/2865644-1?lang=0

Related Links :

https://www.doctorxdentist.com

PR Newswire

Kingsoft Cloud Enters Singapore Cloud Computing Market

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SINGAPORE, July 30, 2020 — The unexpected pandemic has brought many uncertainties to the global economy. But there is still one thing for sure: backed by various technologies including 5G, AI and IoT, the world is witnessing accelerated global digitalization, with cloud being a key support. From telecommuting and online education to telemedicine, social network and entertainment, even to online graduation exhibition and online court, it seems that everything can be done “on the cloud”. Kingsoft Cloud (NASDAQ: KC), as a leading cloud service provider in the world, has set up energy-saving data centers and operating branches in the United States, Russia, Singapore, etc. And the headquarters of Southeast Asia operations were set in Singapore.

Singapore, the fourth largest financial center in the world which sits in an important geographical position in Asia-Pacific, shows great potential demands for cloud services. The outbreak of COVID-19 this year has accelerated the digitalization of enterprises in Singapore to a large extent, prompting an earlier rise of cloud computing, a key role in the future market.

Kingsoft Cloud (NASDAQ: KC), a leading cloud service provider in the world
Kingsoft Cloud (NASDAQ: KC), a leading cloud service provider in the world

Kingsoft Cloud has inherited the “enterprise service DNA” from Kingsoft Group, the widely trusted leading software franchise in China, and has established superior enterprise service capabilities. Kingsoft Cloud stays at the forefront of cloud technology development, making extensive technical accumulation in big data, cloud computing, AI, IoT, and other areas. On that basis, Kingsoft Cloud offers cutting-edge technologies as well as convenient, efficient and customized services around the clock for Chinese enterprises going global, local enterprises in Singapore and other reginal enterprises in the Asia-Pacific region.

Currently, Kingsoft Cloud has provided over 120 solutions for multiple industries including video, gaming, education, finance and real estate , which have been highly recognized by its clients and partners.

So as an early player in video cloud and AI, what makes Kingsoft Cloud stand out?

First of all, in terms of video cloud, Kingsoft Cloud has followed the strategy of “Edge-based, AI-empowered”, aiming to offer immersive video cloud experience and tailored edge computing services. This year, Kingsoft Cloud launched its flagship 8K+VR livestreaming commercial solution and image quality evaluation platform — Kingsoft Cloud Quality of Experience.

With a well-established distribution platform and advanced live-streaming technology, the 8K+VR integrated solution of Kingsoft Cloud offers multiple features including VR video collection, editing, encoding, packing, storage, distributing and broadcasting. By combining AV1+ smart high definition and other self-developed technologies, Kingsoft Cloud can effectively reduce the bit rate while remaining the quality of image, therefore cutting the bandwidth costs.

This June, Kingsoft Cloud released the Kingsoft Cloud Quality of Experience (KQoE) to help clients evaluate the quality of image and video solutions. This platform simulates actual viewing experience and provides comprehensive reports and data analyses with the support of experts, so as to help clients evaluate the quality of image better and faster. Now, the platform has been implemented and well-received by our clients. 

When it comes to edge computing, Kingsoft Cloud’s KENC applies advanced container architecture, catering to cloud-native computing, to further optimize transmission efficiency and computing capacity of edge network. On top of that, edge computing and AIoT can be integrated to build the edge computing that is closer to users through smart habitation.

Furthermore, in terms of education cloud, during the pandemic, Kingsoft Cloud has launched an all-round online-learning solution. Built on RTC framework, the algorithm has been optimized to realize low latency. The solution addresses issues like fast expansion, high concurrency, student-teacher real-time interaction and teaching evaluation, making sure that online teaching activities go smoothly.

The concept of “smart campus” has gained much attention recently. Besides the smart educational administration system, security system and big data system, Kingsoft Cloud has launched the AI development platform KPL for colleges and universities. The data, algorithm, and computing power can be managed and allocated in a uniform manner to establish a sound development and software stack, enabling large-scale distributed training, automatic modeling, etc. This platform can satisfy resources demands of different levels, helping colleges and universities to improve the utilization of computing resources and AI development efficiency. Ultimately, smooth, stable, and reliable operations of the system can be realized.

At last, when it comes to AIoT, mainstream systems such as Smart Home and property management are usually separated. To deal with interconnectivity issues and isolated data island, Kingsoft Cloud’s integrated smart community solution provides a unified software and hardware control interface, data interface and uniform user access, leveraging by Cloud+AI+IoT+BigData and other technologies. Based on “three terminals and one platform” (terminals of users, projects, and enterprises, and the platform of smart habitation services), Kingsoft Cloud’s integrated smart community solution features interconnected indoor and outdoor scenarios and efficient property management abilities, which are the key value of a smart community.

Currently, Kingsoft Cloud runs business around the globe, and larger global partnership has been written in its long-term strategy. Entering the Singapore market, Kingsoft Cloud will join hands with its partners to support Singapore’s Smart Nation Initiative, leveraging its cutting-edge technologies and rich experience in cloud services.

Photo – https://photos.prnasia.com/prnh/20200729/2870714-1?lang=0

PR Newswire

How CommonLook’s Expertise Helps Google With PDF Accessibility

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ARLINGTON, Virginia, July 30, 2020 — Two years ago, Google reached out to CommonLook because of our expertise in PDF accessibility.

“At the time, we recognized the potential impact on PDF accessibility due to the massive number of Chrome users around the world.” – Monir ElRayes, President and CEO, CommonLook, Inc.

Google knows that online content publishers are required to have their PDFs accessible and compliant to standards. Unfortunately, most organizations do not support directly generating a tagged PDF. 

Google used CommonLook’s PDF Validator and consulted with CommonLook to ensure their PDF accessibility plan was going to provide the biggest impact.

“By building this into Chrome, we’re hoping some organizations that already use HTML as part of their document workflow might be able to take advantage of this new functionality and generate compliant PDFs more easily.” Dominic Mazzoni, Technical Lead, Chrome Accessibility.

After significant progress, Chrome is rolling out this feature to all users every time they generate a PDF from Chrome. 

“We are pleased to see Google leading on social justice issues like this. Information technology is the new frontier of equality. By adding accessibility features to the Chrome browser, they are improving the experience of users with disabilities,” said Douglas Towne, the Chair and CEO of Access Ready, a cross disability advocacy organization. “Tagged PDF’s are a requirement for accessible documents and this new capability should help ensure access to a greater audience across e-commerce, work, school and in the home.”

With this being the 30th anniversary of the ADA this month, we cannot think of a better tribute to the ideals of the ADA than to see Google adding additional accessibility features to the Chrome web browser that is used by 1 billion people worldwide.

Learn More About Google’s Announcement: https://blog.chromium.org/2020/07/using-chrome-to-generate-more.html

CONTACT: Susan Lee, Director of Communications at CommonLook, press@commonlook.com

Related Links :

http://commonlook.com