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PR Newswire

LoginID announces Partners integrating its FIDO-certified Strong Customer Authentication platform

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The LoginID FIDO2 and UAF certified Strong Customer Authentication platform will provide Data on Tap, Execuvault, NetCents, Global Asset Technology, POS Connect, and FroogalPay customers frictionless, secure biometric logins, removing the need for traditional logins and passwords

SAN MATEO, California, July 14, 2020 — LoginID Inc. has announced new partnerships as part of its launch of FIDO-as-a-Service, for small and medium sized enterprises.  This follows on its recent announcement for the Indonesian market, with eKYC leader, ASLI RI. The new partners announced will integrate the LoginID FIDO2 and UAF certified biometric strong customer authentication in support of various use-cases.

By integrating the LoginID strong customer authentication, partners will now be able to reduce end-user dependency on weak logins and passwords.  According to the FIDO Alliance, 64% of eCommerce customers and 78% of peer to peer transfer users, prefer stronger authentication versus traditional logins and passwords.  With LoginID’s FIDO-as-a-Service, partners will be able to provide their customers additional confidence, and higher security in their daily digital interactions, eliminating passwords and logins.  “Developers and enterprises are looking for very low-lift integrations of leading-edge products. Our FIDO2 and UAF certified strong customer authentication can be integrated in less than an hour, and will provide end-users a frictionless experience” says Simon Law, CEO of LoginID.

Differing from proprietary biometric solutions, the LoginID FIDO2 and UAF certified platform utilizes cryptographic security based on the customer’s device hardware, therefore it is not vulnerable to hacks or OS takeovers.  It works right out of the box, with no additional hardware or downloadable software required by customers.  The customer experience is very simple and intuitive, with a ‘biometric login’ button displayed, where customers can use their fingerprint scanner on their device to login to an application or website.  Customers won’t have to remember passwords or use other weaker forms of logging in. 

Data on Tap is a Canadian based telecom technology company that is developing a digital ecosystem of highly-customized mobile services serving smartphone customers.  “With the LoginID FIDO2 service we will be able to increase digital in-app and web interactions security and where required provide additional authentication and user level control,” says Algis Akstinas, CEO of Data on Tap.  “This will also alleviate any customer concerns around SIM swap attacks, which is becoming more of a prevalent issue for customers”.

Execuvault is a Toronto-based FinTech Startup on a mission to transform the legacy transfer process using blockchain technology. Self-executing smart contracts record the terms of users’ directives and bequests (assets, investments, life insurance policies, and documents— securely stored in a personalized vault); and then validate the criteria for assignment and disbursement. The XV Legacy Transfer Platform automates the division of funds through trusted transactions —which are digitally notarized and irrefutable— and can be carried out among disparate, anonymous parties; without the need for a central authority or external enforcement mechanism.   “We see a lot of flexibility around how we can easily integrate FIDO2 biometrics into our existing customer experience with LoginID” says Brian Kieller, CEO of ExecuVault.

NetCents Technology (CSE: N.C. / Frankfurt: 26N / OTCQB: NTTCF) provides a very simple way for merchants to accept cryptocurrency as a payment option for their customers. By integrating the NetCents crypto payment button, merchants have an easy way to process various cryptocurrencies and as a complement to traditional payment methods.  “Security is top of mind for our merchants and their clients.  Anything we can do to help further secure out interactions with our merchants or their customers, will help increase our future transaction volume,” says Pat Albright, Executive Vice President at NetCents Technology.

FroogalPay is middleware that provides software developers a quick and easy way to accept payments from within their application.  “Our clients not only need the highest standard around security, but we need to ensure that we provide ways to increase conversions.  With LoginID’s FIDO2 biometric button, there are various ways merchants can integrate into their customer journeys, making it simpler and safer for customers to pay while protecting merchants from fraud.” says Jonathan Reinsdorf, CEO of FroogalPay.

Global Asset Technology has developed an asset based crypto token that can be used towards traditional assets.  “With LoginID we will secure our interactions for our institutional clients, who need simple, yet rigorous security that eliminates threats to their accounts from outside parties” says Steve Katmarian, CEO of Global Asset Technology.

POS Connect is a software developer and payment processor which provides merchants and enterprises secure ways to bill and collect payments.  “More and more of our services are global in nature.  Since the FIDO standard is aligned with regulatory standards such as PSD2 and GDPR, our clients will have assurances that services they are providing meet the expectations of the market as it relates to security and privacy” says Marius Kimel, CEO of POS Connect.

Simon Law, CEO of LoginID says “These partners provide a great cross section of the types of businesses that can leverage strong customer authentication by integrating a simple, biometric button.  We expect to see more and more companies like these recognizing how easy it is to protect their customers while at the same time improving the overall experience.”

LoginID will be adding more functions and features for partners and developers as part of its self-serve digital onboarding experience, in the coming weeks.

About LoginID
LoginID is a San Mateo/Toronto based company focused on bridging the gap around authenticating users and securing their information, using its patent-pending encryption protocol Secure Data Diffusion. This is facilitated through its FIDO2 and UAF certified strong customer authentication, privacy and tokenization platform.  The team is composed of seasoned executives with decades of experience, across global brands, helping commercialize products around security, cryptography, payments and mobile. 
sales@loginid.io

About Data on Tap Inc.
Data on Tap Inc. is building dotmobile™, a smart tiny telecom with a goal – to make wireless more affordable and awesome for youth, seniors, students, newcomers, visitors to the country, small businesses, and families that want to save. Data On Tap™, dotmobile™, dot.™ and the dotmobile logo are trademarks of Data On Tap Inc.

About Execuvault Inc.
For more information about ExecuVault:
Brian Kieller 
brian.kieller@execuvault.com 
execuvault.com

About Net-Cents Inc.
NetCents Technology Inc (NC.CN), the transactional hub for all cryptocurrency payments, equips forward-thinking businesses with the technology to seamlessly integrate cryptocurrency processing into their payment model without taking on the risk or volatility of the crypto market. NetCents Technology is registered as a Money Services Business (MSB) with FINTRAC For more information, please visit the corporate website at www.net-cents.com or contact Investor Relations: investor@net-cents.com.  To keep up on the latest – make sure to join the telegram channel  http://t.me/NetCents 

About FroogalPay
FroogalPay is a user-friendly Virtual Terminal/Invoicing System/Hosted Payment Pages platform for merchants that turbocharges how 125+ payment gateways process credit cards and ACH. In addition, FroogalPay is middleware that provides software developers a quick and easy way to accept payments from within their application. With a single lightning-fast integration, software developers can access all of our 125+ turbocharged gateways, FroogalPay is headquartered in Chicago with an office in Montreal, Canada. Visit froogalpay.com.

About Global Asset Technology Inc.
Global Asset Technology is developing a user-friendly and compliant platform that allows non-coders to launch and manage sophisticated blockchain applications.  For more information visit our platform site argoblock.com 

About POS Connect Inc.
Toronto based POSconnect develops and supports a number of proprietary integrated payments software and platform solutions, both in North America and globally. POSconnect’s diverse customer base represent a multitude of market segments, from Brick and Mortar to Broker-Dealer, SME’s to multinationals, POSconnect supports streamlined, ubiquitous global payments and fintech related services. Visit POSconnect.com to learn more.

Related Links :

http://loginid.io

PR Newswire

Invitation to Electrolux Q2 Presentation

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STOCKHOLM, July 3, 2020 — Electrolux results for the second quarter of 2020 will be published on July 17, 2020, at approximately 08.00 CET.

A telephone conference will be held following the release of the results, starting at 09.00 CET. Jonas Samuelson, President and CEO and Therese Friberg, CFO will comment on the report.

Slides used in the presentation will be available at Electrolux website, www.electroluxgroup.com/ir. The second quarter report will also be available at the same address.

You can listen to the presentation here.

The details for participation by telephone are as follows:

Participants in Sweden should call +46-8-566-426-51
Participants in UK/Europe should call +44-3333-000-804
Participants in US should call +1-631-9131-422

Pin code: 74667634#

For further information, please contact:

Sophie Arnius, Head of Investor Relations, +46-70-590-80-72

Electrolux Press Hotline, +46-8-657-65-07

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/electrolux/r/invitation-to-electrolux-q2-presentation,c3147937

The following files are available for download:

PR Newswire

Recon Technology Announces Pricing of $2.1 million Registered Direct Offering

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BEIJING, June 26, 2020 — Recon Technology, Ltd. (NASDAQ: RCON) (“Recon” or the “Company”) announced today it has entered into a securities purchase agreement with certain accredited investors on June 26, 2020 to purchase $2.1 million worth of its ordinary shares in a registered direct offering and warrants to purchase ordinary shares in a concurrent private placement.

Under the terms of the securities purchase agreement, the Company has agreed to sell 1.68 million ordinary shares. In a concurrent private placement, the Company has agreed to issue unregistered warrants to purchase up to 1.68 million ordinary shares. The warrants will be exercisable immediately upon the date of issuance and have an exercise price of $1.25. The warrants will expire 5.5 years from the date of issuance. The purchase price for one ordinary share and a corresponding warrant will be $1.25. In addition, the initial exercise price for previously issued unregistered warrants to purchase 911,112 ordinary shares has decreased from $2.25 per share to $1.25 per share. The gross proceeds to the Company from this registered direct offering and concurrent private placement are estimated to be $2.1 million before deducting the placement agent’s fees and other estimated offering expenses, assuming there is no exercise of any of the warrants. The registered direct offering and concurrent private placement are expected to close on or about June 30, 2020, subject to the satisfaction of customary closing conditions.

Maxim Group LLC (“Maxim”) is acting as sole placement agent in connection with this offering.

The Company intends to use the net proceeds from this offering for general corporate purposes.

The securities described above are being offered by the Company pursuant to a shelf registration statement on Form F-3 filed with the Securities and Exchange Commission (SEC) dated November 13, 2019, and declared effective on November 26, 2019. A prospectus supplement related to the offering will be, filed with the SEC and available on the SEC’s website at http://www.sec.gov . Copies of the prospectus supplements relating to the offering may be obtained, when available, by contacting: Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174, by telephone: at (212) 895-3500.

This press release shall not constitute an offer to sell or the 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 the registration or qualification under the securities laws of such state or jurisdiction.

About Recon Technology, Ltd.

Recon Technology, Ltd. (RCON) is China’s first non-state-owned oil and gas field service company listed on NASDAQ. Recon supplies China’s largest oil exploration companies with advanced automated technologies, efficient gathering and transportation equipment and reservoir stimulation measures for increasing petroleum extraction levels, reducing impurities and lowering production costs. Since 2017, the Company has expanded its business operations into other segments of the broader energy industry including electric power, coal chemicals, renewable energy and environmental protection in the energy and chemical industries. Through the years, Recon has taken leading positions on several market segments of the oil and gas field service industry. Recon also has developed stable long-term cooperation relationships with its major clients, and its products and service are well accepted by clients. For additional information please visit: www.recon.cn .

Forward-Looking Statements

Certain statements made herein are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include timing of the proposed transaction; the business plans, objectives, expectations and intentions of the parties once the transaction is complete, and RCON’s estimated and future results of operations, business strategies, competitive position, industry environment and potential growth opportunities. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, our actual results may differ materially from our expectations or projections. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: there is uncertainty about the spread of the COVID-19 virus and the impact it will have on RCON’s operations, the demand for the RCON’s products and services, global supply chains and economic activity in general. These and other risks and uncertainties are detailed in the other public filings with the Securities and Exchange Commission (the “SEC”) by RCON. 

Additional information concerning these and other factors that may impact our expectations and projections will be found in our periodic filings with the SEC, including our Annual Report on Form 20-F for the fiscal year ended June 30, 2019. RCON’s SEC filings are available publicly on the SEC’s website at  www.sec.gov . RCON disclaims any obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise.

IR contact:
Liu Jia
Recon Technology, Ltd.
+86 (10) 84945799
info@recon.cn

Related Links :

http://www.recon.cn/

PR Newswire

Arçelik Has Announced Its Sustainability Targets for 2030

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ISTANBUL, June 5, 2020 /PRNewswire/ — Adopting sustainability as a business model with its “Respecting the World, Respected Worldwide” vision, Arçelik published its 12th Sustainability Report, announcing short, medium, and long-term targets towards 2030.

Arçelik CEO Hakan Bulgurlu
Arçelik CEO Hakan Bulgurlu

Arçelik CEO Hakan Bulgurlu spoke about the company’s 12th Sustainability Report, commenting, “A sustainable world is possible in the future with the steps we will take today. Our ‘In Touch Technology’ approach is based on this point of view. With our global reach, broad network of stakeholders, and our technologies that improve our planet, lives and business, we strive to be a part of the solution in tackling environmental and social problems. The COVID-19 outbreak has affected the whole world in a short period of time, and it has once again reminded us that our most important responsibility is to protect our environment, the ecosystem, biodiversity and natural resources. We believe that all companies will adopt sustainability as their business model after the pandemic. People will also encourage companies to take responsibility for environmental and social problems with their purchase decisions.”

Energy and water consumption per product will decrease by 45%

Arçelik shared its solutions to combat the climate crisis and other environmental issues under the “In Touch with our Planet” section. By 2030, the company aims to establish 15 MW of renewable energy systems and reduce the energy consumption per product in its South Africa, Russia, Turkey, Romania, China, Thailand and Pakistan operations by 45% compared to the base year of 2015. In 2019, Arçelik reduced its energy consumption per product by 43.5% compared to 2010 in its Turkey, Romania, China, Russia, and South Africa operations. Now it aims to become a carbon-neutral company in its Turkish production plants by 2025 and reduce its water consumption per product by 45% by 2030 compared to the base year of 2015. The company also reached its 2020 targets by reducing its water consumption per product by 52% compared to the base year of 2012 in its Turkey, Romania, China, Russia, and South Africa operations.

The female manager ratio will increase to 30% by 2030

Under the “In Touch with Business” section, Arçelik explained its employee-oriented targets focusing on being a source of inspiration for its stakeholders, to begin with its supply chain and dealers. The company increased its female manager ratio to 18.6% in 2019 and now aims to raise it to 30% by 2030. Arçelik also aims to ensure that over 50% of its employees participate in a minimum of one volunteering activity per year.

Arçelik will help 80 million people gain awareness on healthy living

Through “In Touch with Human Needs” approach, Arçelik, with its Beko brand, aims to raise awareness amongst 80 million people about healthy living by 2030 with ongoing programmes to contribute to healthy, future generations. Arçelik also joins Grundig in the fight against food waste to raise awareness amongst 3.5 million people about responsible consumption and provide 1 million meals to 500,000 people by saving 1,200 tons of food.

The Industry Leader in Sustainability

Arçelik reinforced its leadership in national and global platforms with its sustainability efforts in 2019. Arçelik has been selected as the Industry Leader for the “Household Durables” category in the Dow Jones Sustainability Index (DJSI). The index represents the gold standard in corporate sustainability and ranks the largest companies based on their sustainability performances. Arçelik has been the first and only industrial company from Turkey to be included in the DJSI Emerging Markets category for three consecutive years.

Arçelik maintained its achievements by being listed in the Borsa Istanbul (BIST) Sustainability Index, MSCI Sustainability Index, and FTSE4Good Emerging Markets Index, and by receiving the Zero Waste Private Sector Award from the Republic of Turkey, Ministry of Environment and Urbanization.

Arçelik has received A- in the 2019 Climate Program of the Carbon Disclosure Project (CDP), the world’s most respected environmental initiative with its campaigns against climate change and became one of the Turkish companies to earn the highest score in this program. The company also received B in the CDP 2019 Water Program.

You can download Arçelik’s 2019 Sustainability Report here.

Arçelik 2019 Sustainability Report
Arçelik 2019 Sustainability Report
PR Newswire

China Telecom Voted as “No.1 Best Telecommunications Company in Asia” by FinanceAsia

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HONG KONG, May 26, 2020 /PRNewswire/ — China Telecom Corporation Limited (“China Telecom” or “the Company”; HKEx: 00728; NYSE: CHA) was voted by portfolio managers and analysts around the globe as “No.1 Best Telecommunications Company in Asia“, at the “Asia’s Best Managed Companies Poll 2020″ by FinanceAsia, a reputable financial magazine in Asia. The Company’s Chairman and CEO, Mr. Ke Ruiwen, was voted as “No.2 Best CEO in China“.

In total, China Telecom swept seven top awards as follows:

  • No.1 Best Telecommunications Company in Asia
  • No.2 Best CEO in China
  • No.2 Best Managed Company in China
  • No.2 Best Environmental Stewardship in China
  • No.2 Most Committed to Social Causes in China
  • No.3 Best Corporate Governance in China
  • No.2 Best Investor Relations in China

This is the 20th year that FinanceAsia conducts “Asia’s Best Managed Companies” annual poll. This year, the poll received votes from more than 330 portfolio managers and analysts for their views on listed companies on the criteria including overall management, corporate governance, investor relations and corporate social responsibility to elect the best managed companies in Asia.

China Telecom’s numerous awards given by FinanceAsia and other similar top competitions over the years mark the endorsement by the investment community for their appreciation on China Telecom’s continuous and consistent outstanding management performance and corporate governance with high regards for its strong execution capability and the leading standard of transparency among companies in Asia. China Telecom would like to sincerely thank the capital market, investors and analysts for their support, trust and commendation all along.

China Telecom Voted as “No.1 Best Telecommunications Company in Asia” by FinanceAsia
China Telecom Voted as “No.1 Best Telecommunications Company in Asia” by FinanceAsia

Photo – https://photos.prnasia.com/prnh/20200525/2812498-1?lang=0

PR Newswire

MediaTek’s New Dimensity 820 Chip Brings Incredible 5G Experiences to Smartphones

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TAIPEI, Taiwan, May 18, 2020 /PRNewswire/ — MediaTek today announced the Dimensity 820 system-on-chip (SoC) which is optimized for premium user experiences. The Dimensity 820 delivers ultra-fast 5G speeds, and is feature-packed with MediaTek’s latest multimedia, AI and imaging innovations.   

MediaTek Dimensity 820 5G chipset
MediaTek Dimensity 820 5G chipset

“Our Dimensity 1000 is already powering impressive flagship 5G devices in a number of markets. With the new Dimensity 820, we’re now making 5G much more accessible,” said Dr. Yenchi Lee, Assistant General Manager of MediaTek’s Wireless Communications Business Unit.  “The Dimensity 820 stands out beyond competitors by offering four high-performance Arm Cortex-A76 cores at 2.6GHz within its octa-core CPU, delivering superb performance and responsiveness, among its incredible AI, gaming and photography experiences.”

Dimensity 820 packs high performance Arm Mali G57 GPU graphics plus HyperEngine 2.0 enhancements so users can immerse themselves in the latest mobile games. Brands can embrace support for 120Hz high frame-rate displays, while leading HDR features with MediaTek MiraVision showcases the most vivid visuals in videos and streams.

MediaTek’s Dimensity 820 integrates a 5G NR (sub-6GHz) modem into this single-chip solution with MediaTek’s 5G UltraSave technologies, including exclusive 5G UltraSave Network Environment Detection and 5G UltraSave OTA Content Awareness, that altogether provides best-in-class energy efficiency. The 5G modem design also uses dynamic bandwidth part (BWP) adaption and connected mode discontinuous reception (C-DRX) power-saving technologies.

5G Carrier Aggregation (CA) technology delivers higher average speeds and a seamless handover between two 5G connection areas for the most reliable connectivity on the go. The Dimensity 820 also supports dual SIM, dual standby (DSDS) 5G technology for access to the fastest speeds and Voice over New Radio (VoNR) services on both SIMs.

The MediaTek Dimensity 820 includes:

  • Dedicated APU 3.0 (AI Processing Unit): MediaTek APU 3.0 provides more powerful AI-camera capabilities so users can capture stunning images and videos at the same time, without any quality loss.
  • HyperEngine 2.0 gaming technologies: MediaTek’s HyperEngine 2.0 provides whole smartphone enhancements for gaming. Combined with the chipset’s premium five-core GPU it delivers a superb gaming experience with optimizations that reduce network latency for smoother gameplay, support faster response times and enhance display quality. HyperEngine 2.0 also intelligently adjusts the CPU, GPU and memory resources to optimize power and performance.
  • MediaTek’s Imagiq 5.0: The flagship-class, HDR-native image signal processor (ISP) supports up to four concurrent cameras and up to 80MP sensors, giving brands more design flexibility.
  • Multi-frame 4K Video HDR: Easily to record stunning 4K HDR video even in bright and dark environments. The chip automatically captures frames at different exposures and intelligently fuses them into a single video stream, all in real-time.

The Dimensity 820 delivers best in class 5G Experiences, featuring the latest MediaTek technologies, bringing impressive big core performance to premium experience devices. 

The Dimensity 820 is designed for global sub-6GHz 5G networks in Asia, North America and Europe. For more information and specifications visit the MediaTek Dimensity 5G solutions page.

# # #

About MediaTek Inc.

MediaTek Incorporated (TWSE: 2454) is a global fabless semiconductor company that enables 1.5 billion connected devices a year. We are a market leader in developing innovative systems-on-chip (SoC) for mobile device, home entertainment, connectivity and IoT products. Our dedication to innovation has positioned us as a driving market force in several key technology areas, including highly power-efficient mobile technologies, automotive solutions and a broad range of advanced multimedia products such as smartphones, tablets, digital televisions, 5G, Voice Assistant Devices (VAD) and wearables. MediaTek empowers and inspires people to expand their horizons and achieve their goals through smart technology, more easily and efficiently than ever before. We work with the brands you love to make great technology accessible to everyone, and it drives everything we do. Visit www.mediatek.com for more information.

MediaTek Press Office:

PR@mediatek.com
Kevin Keating, MediaTek
+1 206-321-7295
10188 Telesis Ct #500, San Diego, CA 92121, USA

MediaTek Dimensity 820 Infographic 0520
MediaTek Dimensity 820 Infographic 0520

Photo – https://photos.prnasia.com/prnh/20200515/2804901-1-a?lang=0
Photo – https://photos.prnasia.com/prnh/20200515/2804901-1-b?lang=0

Source: MediaTek Inc.

PR Newswire

Wealthbridge Acquisition Limited and Scienjoy Inc. Announce Closing of Business Combination

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NEW YORK, May 8, 2020 /PRNewswire/ — Wealthbridge Acquisition Limited (“Wealthbridge”) (NASDAQ: HHHH, HHHHU, HHHHW, HHHHR), a special purpose acquisition company, and Scienjoy Inc. (“Scienjoy” or the “Company”), a leading live entertainment mobile streaming platform in China, today announced the successful closing of the transactions contemplated by the previously-announced Share Exchange Agreement (the “Share Exchange Agreement”), dated as of October 28, 2019, by and among Scienjoy, Lavacano Holdings Limited (“Lavacano”), and WBY Entertainment Holdings Ltd. (“WBY”, together with Lavacano, the “Sellers”), and approved by Wealthbridge shareholders as of May 5, 2020.

In connection with the closing, Wealthbridge has changed its name to Scienjoy Holding Corporation (“SHC”). Additionally, SHC expects that its ordinary shares will begin trading under the ticker symbol “SJ” on the Nasdaq stock exchange effective May 11, 2020, and its units and rights will cease trading as of the close of business on May 8, 2020. No action is needed from current Wealthbridge shareholders in relation to the ticker symbols change.

SHC will be led by Scienjoy’s current management team with Victor He as Chief Executive Officer, Bo Wan as Chief Operating Officer, and Denny Tang as Chief Financial Officer. Meanwhile, Winston Liu, Chairman and CEO of Wealthbridge will remain on SHC’s board of directors. SHC will remain headquartered in Beijing, China.

Winston Liu, Chairman and CEO of Wealthbridge, stated “We commend Victor and his team at Scienjoy for their success to date in building a vibrant live streaming ecosystem in China. As the mobile entertainment live streaming market continues to grow both in China and abroad, we are excited to work with Scienjoy to capitalize on these emerging opportunities.”

Victor He, Scienjoy’s CEO, also commented “We are quite pleased to announce the closing of the business combination and would like to thank all of our shareholders for their support during the process. The recognition we have received from our partners is an important company milestone, and we plan to maintain this momentum going forward. To fuel our growth, we are in the process of exploring potential overseas expansion opportunities. We firmly believe that social media networks and online business models do not have cultural boundaries. By leveraging our proprietary technology, international talent, and deep IT industry expertise, we will not only rapidly expand our global footprint, but move one step close to bringing joy and entertainment to all people around the world.”

Chardan acted as an M&A and financial advisor to Wealthbridge. Loeb and Loeb LLP acted as a legal advisor to Wealthbridge. Jun He Law Offices LLC, Fengyu Law Firm, and Maple Group acted as the legal advisors to Scienjoy.

About Scienjoy Inc.

Founded in 2011, Scienjoy is a leading show live streaming video entertainment social platform in China. With more than 200 million registered users, Scienjoy currently operates three primary online live streaming brands with their respective websites and mobile apps: Showself, Lehai, and Haixiu. More information can be found at: http://www.scienjoy.com

About Wealthbridge Acquisition Limited.

Wealthbridge Acquisition Limited is incorporated in the British Virgin Islands as a blank check company for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. Wealthbridge’s efforts to identify a prospective target business have not been limited to a particular industry or geographic region, although Wealthbridge intended to focus on targets located in China.

Forward-Looking Statements

This press release contains, and certain oral statements made by representatives of Wealthbridge, Scienjoy, and their respective affiliates, from time to time may contain, “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Wealthbridge’s and Scienjoy’s actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “might” and “continues,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Wealthbridge’s and Scienjoy’s expectations with respect to future performance and anticipated financial impacts of the business combination, the satisfaction of the closing conditions to the business combination and the timing of the completion of the business combination. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside the control of Wealthbridge or Scienjoy and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the share exchange agreement relating to the proposed business combination; (2) the outcome of any legal proceedings that may be instituted against Wealthbridge or Scienjoy following the announcement of the share exchange agreement and the transactions contemplated therein; (3) the inability to complete the business combination, including due to failure to obtain approval of the shareholders of Wealthbridge or other conditions to closing in the share exchange agreement; (4) delays in obtaining or the inability to obtain necessary regulatory approvals (including approval from insurance regulators) required to complete the transactions contemplated by the share exchange agreement; (5) the occurrence of any event, change or other circumstance that could give rise to the termination of the share exchange agreement or could otherwise cause the transaction to fail to close; (6) the inability to obtain or maintain the listing of the post-acquisition company’s ordinary shares on NASDAQ following the business combination; (7) the risk that the business combination disrupts current plans and operations as a result of the announcement and consummation of the business combination; (8) the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably and retain its key employees; (9) costs related to the business combination; (10) changes in applicable laws or regulations; (11) the possibility that Scienjoy or the combined company may be adversely affected by other economic, business, and/or competitive factors; and (12) other risks and uncertainties to be identified in Wealthbridge’s proxy statement (when available) relating to the business combination, including those under “Risk Factors” therein, and in other filings with the Securities and Exchange Commission (“SEC”) made by Wealthbridge and Scienjoy. Wealthbridge and Scienjoy caution that the foregoing list of factors is not exclusive. Wealthbridge and Scienjoy caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Neither Wealthbridge or Scienjoy undertakes or accepts any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, subject to applicable law. The information contained in any website referenced herein is not, and shall not be deemed to be, part of or incorporated into this press release.

Important Information

Scienjoy Inc. (“Scienjoy”), Wealthbridge Acquisition Limited (“Wealthbridge”), and their respective directors, executive officers and employees and other persons may be deemed to be participants in the solicitation of proxies from the holders of Wealthbridge ordinary shares in respect of the proposed transaction described herein. Information about Wealthbridge’s directors and executive officers and their ownership of Wealthbridge’s ordinary shares is set forth in Wealthbridge’s Annual Report on Form 10-K filed with the SEC, as modified or supplemented by any Form 3 or Form 4 filed with the SEC since the date of such filing. Other information regarding the interests of the participants in the proxy solicitation will be included in the proxy statement pertaining to the proposed transaction when it becomes available. These documents can be obtained free of charge from the sources indicated below.

In connection with the transaction described herein, Wealthbridge will file relevant materials with the SEC including a proxy statement on Schedule 14A. Promptly after filing its definitive proxy statement with the SEC, Wealthbridge will mail the definitive proxy statement and a proxy card to each stockholder entitled to vote at the special meeting relating to the transaction. INVESTORS AND SECURITY HOLDERS OF WEALTHBRIDGE ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE TRANSACTION THAT WEALTHBRIDGE WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT WEALTHBRIDGE, SCIENJOY AND THE TRANSACTION. The definitive proxy statement, the preliminary proxy statement and other relevant materials in connection with the transaction (when they become available), and any other documents filed by Wealthbridge with the SEC, may be obtained free of charge at the SEC’s website (www.sec.gov).

Contacts

Yongsheng Liu
Chief Executive Officer
Wealthbridge Acquisition Limited
+86 (186) 0217-2929
winstonca@163.com

Xiaowu He
Chief Executive Officer
Scienjoy Inc.
+86 (10) 6445-9071
victor.he@scienjoy.com

Jack Wang
ICR Inc.
+1 (212) 537-9254
scienjoy.ir@icrinc.com

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Source: Scienjoy Inc.

PR Newswire

ChipMOS REPORTS APRIL 2020 REVENUE; NEW RECORD HIGH FOR APRIL

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HSINCHU, May 6, 2020 /PRNewswire/ — ChipMOS TECHNOLOGIES INC. (“ChipMOS” or the “Company”) (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services (“OSAT”), today reported its unaudited consolidated revenue for the month of April 2020.  All U.S. dollar figures cited in this press release are based on the exchange rate of NT$29.72 to US$1.00 as of April 30, 2020.

Revenue for the month of April 2020 was NT$1,854.3 million or US$62.4 million, which is a new record high revenue level for the month of April.  This represents an increase of 18.9% as compared to April 2019 and a decrease of 5.7% from March 2020.  The Company noted that it benefitted from stable memory demand, including DRAM and NOR flash.  These improvements were partially offset by softness in DDIC and gold bumping due to macro weakness in TV and smart phone demand, combined with one less calendar day of operations in the month of April compared to March.

Consolidated Monthly Revenues (Unaudited)

April 2020

March 2020

April 2019

MoM Change

YoY Change

Revenues

(NT$ million)

1,854.3

1,966.8

1,559.5

-5.7%

18.9%

Revenues

(US$ million)

62.4

66.2

52.5

-5.7%

18.9%

About ChipMOS TECHNOLOGIES INC.:

ChipMOS TECHNOLOGIES INC. (“ChipMOS” or the “Company”) (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS) (https://www.chipmos.com) is an industry leading provider of outsourced semiconductor assembly and test services. With advanced facilities in Hsinchu Science Park, Hsinchu Industrial Park and Southern Taiwan Science Park in Taiwan, ChipMOS provide assembly and test services to a broad range of customers, including leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries. 

Forward-Looking Statements

This press release may contain certain forward-looking statements. These forward-looking statements may be identified by words such as ‘believes,’ ‘expects,’ ‘anticipates,’ ‘projects,’ ‘intends,’ ‘should,’ ‘seeks,’ ‘estimates,’ ‘future’ or similar expressions or by discussion of, among other things, strategy, goals, plans or intentions. These statements may include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Actual results may differ materially in the future from those reflected in forward-looking statements contained in this document, due to various factors.  Further information regarding these risks, uncertainties and other factors are included in the Company’s most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange commission (the “SEC”) and in the Company’s other filings with the SEC.

Contacts:

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Source: ChipMOS TECHNOLOGIES INC.

PR Newswire

GigaMedia Announces First-Quarter 2020 Financial Results

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TAIPEI, April 30, 2020 /PRNewswire/ — GigaMedia Limited (NASDAQ: GIGM) today announced its first-quarter 2020 unaudited financial results.

Comments from Management

For the first quarter of 2020, GigaMedia reported revenues of $1.60 million, with a gross profit of $0.93 million, an operating loss of $0.64 million and the net loss of $0.29 million. Total revenues increased by 6.6% if compared to the previous quarter, and net loss was similar.

“The pandemic of COVID-19 only mildly affected our operations in Taiwan and Hong Kong,” said GigaMedia CEO James Huang. “While it has indeed caused disruptions to our offline marketing and operating activities, we managed to mitigate its impact, and continued improving the productivity in our existing products and making progress in developing new offerings.”

First Quarter Overview

  • Operating revenue increased by $0.10 million or 6.6% in quarter-on-quarter comparison, and increased by 8.2% in year-over-year comparison.
  • Loss from operations amounted to approximately $0.64 million and net loss approximately $0.29 million, comparable to the fourth quarter of 2019 and slightly improved when compared with the same quarter last year.

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 mobile games and casual games. Unaudited consolidated results of GigaMedia are summarized in the table below.

For the First Quarter

GIGAMEDIA 1Q20 UNAUDITED CONSOLIDATED FINANCIAL RESULTS

(unaudited, in US$ thousands, except for percentages and per
share amounts)

1Q20

4Q19

Change

(%)

1Q20

1Q19

Change

(%)

Revenues

$

1,604

$

1,504

6.6

%

$

1,604

$

1,483

8.2

%

Gross Profit

927

1,025

(9.6)

%

927

738

25.6

%

Loss from Operations

(640)

(399)

NM

(640)

(949)

NM

Net Loss Attributable to GigaMedia

(286)

(271)

NM

(286)

(532)

NM

Loss Per Share Attributable to GigaMedia,
Diluted

(0.03)

(0.02)

NM

(0.03)

(0.05)

NM

EBITDA(A)

(536)

(574)

NM

(536)

(876)

NM

Cash, Cash Equivalents and Restricted Cash

57,311

58,274

(1.7)

%

57,311

58,494

(2.0)

%

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.)

First-Quarter Financial Results

  • Consolidated revenues for the first quarter of 2020 increased by 6.6% quarter-on-quarter to $1.60 million, from $1.50 million in the fourth quarter of 2019, or by 8.2% year-over-year from $1.48 million in the first quarter of 2019.
  • Consolidated gross profit decreased to $0.93 million from $1.03 million in last quarter but increased by 25.6% from $0.74 million in the same quarter last year.
  • Consolidated operating expenses were $1.57 million in the first quarter of 2020, representing an increase by $0.14 million quarter-on-quarter, or a decrease by $0.12 million from $1.69 million year-over-year.
  • Loss from operation for the first quarter of 2020 was approximately $0.64 million, comparable to a loss of $0.40 million last quarter and approximately a loss of $0.95 million in the first quarter of 2019.
  • Net loss for the first quarter of 2020 was $0.29 million, approximately comparable to such amount in the fourth quarter of 2019, and improved by $0.25 million when compared with the net loss of $0.53 million in the same quarter last year.
  • Cash, cash equivalents and restricted cash at the first quarter-end of 2020 accounted for $57.31 million, which decreased by $0.96 million from the end of 2019.

Financial Position

GigaMedia maintained its solid financial position, with cash, cash equivalents and restricted cash amounting to $57.31 million, or approximately $5.19 per share as of March 31, 2020.

Business Outlook

The following forward-looking statements reflect GigaMedia’s expectations as of April 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 following quarters, we will continue developing new offerings to enhance the variety of our product lines, while our marketing strategies will adjust swiftly, as in the current coronavirus situation, stay-home requirement may boost sales of online business on the one hand, but prevailing economic uncertainties and weakened consumer confidence may discourage spending on entertainment on the other hand.

“In this time of uncertainty, we don’t just wait out the storm. We practice frugality and adapt proactively while focusing on sharpening our core competence,” stated CEO James Huang, “so that we will get well prepared when the storm is over.”

Meanwhile, our business strategies always include expanding through mergers and acquisitions. “We will also continue reviewing potential targets that have strategic capacity to accelerate our growth and enhance shareholders’ value,” said CEO James Huang.

Use of Non-GAAP Measures

To supplement GigaMedia’s consolidated financial statements presented in accordance with U.S. 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 first 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. GigaMedia’s digital entertainment service business develops and operates a suite of digital entertainments in Taiwan and Hong Kong, with focus on browser/mobile games and casual games. More information on GigaMedia can be obtained from www.gigamedia.com.

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

3/31/2020

12/31/2019

3/31/2019

unaudited

unaudited

unaudited

USD

USD

USD

Operating revenues

Digital entertainment service revenues

$

1,603,904

$

1,503,848

$

1,483,233

Operating costs

Cost of digital entertainment service revenues

677,194

479,341

744,901

Gross profit

926,710

1,024,507

738,332

Operating expenses

Product development and engineering expenses

328,815

213,241

320,494

Selling and marketing expenses

410,475

427,090

526,003

General and administrative expenses

824,442

571,562

835,987

Impairment losses

—

208,921

—

Other

2,984

2,957

5,214

1,566,716

1,423,771

1,687,698

Loss from operations

(640,006)

(399,264)

(949,366)

Non-operating income (expense)

Interest income

255,719

322,587

381,799

Foreign exchange (loss) gain – net

98,887

(84,774)

(11,402)

Other – net

(298)

(110,020)

46,912

354,308

127,793

417,309

Loss before income taxes

(285,698)

(271,471)

(532,057)

Income tax benefit (expense)

—

—

—

Net loss attributable to shareholders of GigaMedia

$

(285,698)

$

(271,471)

$

(532,057)

Loss per share attributable to GigaMedia

Basic and Diluted:

$

(0.03)

$

(0.02)

$

(0.05)

Weighted average shares outstanding:

Basic

11,052,235

11,052,235

11,052,235

Diluted

11,052,235

11,052,235

11,052,235

GIGAMEDIA LIMITED

CONSOLIDATED BALANCE SHEETS

3/31/2020

12/31/2019

3/31/2019

unaudited

audited

unaudited

USD

USD

USD

Assets

Current assets

Cash and cash equivalents

$

56,777,472

$

57,742,696

$

57,976,503

Accounts receivable – net

355,225

368,445

589,520

Prepaid expenses

276,010

112,243

208,919

Restricted cash

533,436

530,984

517,815

Other receivables

238,396

261

375,192

Other current assets

148,757

138,601

127,377

Total current assets

58,329,296

58,893,230

59,795,326

Property, plant & equipment – net

8,117

—

100,148

Intangible assets – net

17,965

—

32,492

Prepaid licensing and royalty fees

210,530

43,915

383,681

Other assets

285,319

285,071

1,034,278

Total assets

$

58,851,227

$

59,222,216

$

61,345,925

Liabilities and equity

Short-term borrowings

$

—

$

—

$

—

Accounts payable

60,405

64,337

98,921

Accrued compensation

156,948

200,455

134,243

Accrued expenses

1,449,553

1,079,234

1,228,483

Unearned revenue

1,285,399

1,364,749

1,290,792

Other current liabilities

715,877

874,434

177,073

Total current liabilities

3,668,182

3,583,209

2,929,512

Other liabilities

7,337

94,385

779,919

Total liabilities

3,675,519

3,677,594

3,709,431

Total equity

55,175,708

55,544,622

57,636,494

Total liabilities and equity

$

58,851,227

$

59,222,216

$

61,345,925

GIGAMEDIA LIMITED

Reconciliations of Non-GAAP Results of Operations

Three months ended

3/31/2020

12/31/2019

3/31/2019

unaudited

unaudited

unaudited

USD

USD

USD

Reconciliation of Net Income (Loss) to EBITDA

Net loss attributable to GigaMedia

$

(285,698)

$

(271,471)

$

(532,057)

Depreciation

354

10,888

25,388

Amortization

4,657

9,669

12,899

Interest income

(255,719)

(322,587)

(381,799)

Interest expense

—

—

—

Income tax (benefit) expense

—

—

—

EBITDA

$

(536,406)

$

(573,501)

$

(875,569)

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China Mobile Limited 2019 Annual Report on Form 20-F Filed with the US SEC

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HONG KONG, April 29, 2020 /PRNewswire/ — China Mobile Limited (the “Company”) (HKEx: 941) (NYSE: CHL) announced today that it has filed its Annual Report on Form 20-F for the year ended December 31, 2019 (the “2019 Form 20-F”) with the U.S. Securities and Exchange Commission.

The 2019 Form 20-F is available on the Investor Relations section of the Company’s website at http://www.chinamobileltd.com and on the SEC’s website at http://www.sec.gov. Shareholders may also request a hard copy of the Company’s complete audited financial statements, free of charge, by contacting the Company at Investor Relations Department, China Mobile Limited, 60/F, The Center, 99 Queen’s Road Central, Hong Kong (Email: ir@chinamobilehk.com; Telephone: 852-3121-8888; Fax: 852-2511-9092).

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