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PR Newswire

Bambuser CEO and CFO comment on the Interim Report for Q2 2021

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STOCKHOLM, Aug. 20, 2021 — Maryam Ghahremani, CEO and Sara Lundell CFO of Bambuser, will comment on the interim report from the second quarter of 2021. The interview will be broadcast today at 15:00 CEST, 9 AM EDT, held in English and last for approx 15 minutes.

Link to the broadcast: https://bambuser.com/ir/q2-2021

Contact information

Corporate Communications, Bambuser AB | +46 8 400 160 00 | ir@bambuser.com

Certified Adviser

Erik Penser Bank AB | +46 8 463 83 00 | certifiedadviser@penser.se

About Bambuser AB

Bambuser is a software company specializing in interactive live video streaming. The Company’s primary product, Live Video Shopping, is a cloud-based software solution that is used by customers such as global e-commerce and retail businesses to host live shopping experiences on websites, mobile apps and social media. Bambuser was founded in 2007 and has its headquarters in Stockholm.

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

https://news.cision.com/bambuser/r/bambuser-ceo-and-cfo-comment-on-the-interim-report-for-q2-2021,c3400508

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PR Newswire

Boqii Announces Fiscal 2022 First Quarter Unaudited Financial Results

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First Quarter Revenues of RMB321.8 million, up 35.0% year-over-year

First Quarter GMV of RMB792.1 million, up 42.9% year-over-year

SHANGHAI, Aug. 20, 2021 — Boqii Holding Limited ("Boqii" or the "Company") (NYSE: BQ), a leading pet-focused platform in China, today announced its unaudited financial results for the first quarter of fiscal year 2022 (the quarter ended June 30, 2021).

Fiscal Q1 2022 Operational and Financial Highlights

  • Total revenues were RMB321.8 million (US$49.8 million), an increase of 35.0% from RMB238.4 million in the same quarter of fiscal year 2021.
  • Net loss was RMB37.4 million (US$5.8 million), compared to net loss of RMB42.3 million in the same quarter of fiscal year 2021.
  • Adjusted net loss was RMB31.5 million (US$4.9 million), compared to adjusted net loss of RMB44.4 million in the same quarter of fiscal year 2021.
  • EBITDA[1] was a loss of RMB35.6 million (US$5.5 million), compared to a loss of RMB35.4 million in the same quarter of fiscal year 2021.
  • Total GMV[2] was RMB792.1 million (US$122.7 million), an increase of 42.9% from RMB554.5 million in the same quarter of fiscal year 2021.
  • Active buyers were 1.6 million, an increase of 27.9% from 1.3 million in the same quarter of fiscal year 2021.

[1] EBITDA refers to net loss excluding income tax expenses, interest expense, interest income, depreciation and amortization expenses, but including all the professional expenses in relation to initial public offering in the fiscal year of 2021. EBITDA is a Non-GAAP financial measurement. Please refer to "Non-GAAP financial measurement".

[2] GMV refers to gross merchandise volume, which is the total value of confirmed orders placed with us and sold through distribution model or drop shipping model where we act as a principal in the transaction regardless of whether the products are delivered or returned, calculated based on the listed prices of the ordered products without taking into consideration any discounts. The total GMV amount (i) includes GMV of products sold by Xingmu, (ii) excludes products sold through consignment model and (iii) excludes the value of services offered by us. GMV is subject to future adjustments (such as refunds) and represents only one measure of the Company’s performance and should not be relied on as an indicator of our financial results, which depend on a variety of factors.

CEO & CFO Quote

Mr. Hao Liang, Boqii’s Founder, Chairman and Chief Executive Officer commented, "We delivered another strong quarter of solid financial and operational results. Our relentless focus to expand and optimize our portfolio offerings powered solid topline growth and user engagement. GMV continued to see strong growth, with 42.9% year over year increase to RMB792.1 million. Total active buyers increased by 27.9% to 1.6 million, with 11.7% year-over-year growth in average spending per user. We are excited to see this continuous momentum of user development and remain committed to bringing in more buyers and retaining existing ones while growing their average spending over time."

Ms. Yingzhi (Lisa) Tang, Boqii’s Co-Founder, Co-CEO and CFO commented: "Our strong user growth continued to fuel topline expansion. In this quarter, total revenues grew 35.0% year over year to RMB321.8 million, with an exceptional revenue growth of nearly 20 times year over year from online marketing and information services and other revenue. Meanwhile, in addition to our topline growth, this quarter, our adjusted net loss narrowed down to RMB31.5 million, compared to adjusted net loss of RMB44.4 million in the same period last year, showing improving operational efficiency. Looking ahead, we are committed to execute on our growth strategies with a focus on quality and improved monetization capability, which we believe will bring long-term value to both our users and shareholders."

Fiscal Q1 2022 Financial Results

Total revenues were RMB321.8 million (US$49.8 million), representing an increase of 35.0% from RMB238.4 million in the same quarter of fiscal year 2021. The increase was primarily due to the continued organic growth of our business.

Revenues
(in million)

Three Months Ended June 30

%

2021

2020

change

RMB

RMB

YoY

Product sales

311.5

237.9

30.9

• Boqii Mall

108.3

89.8

20.5

• Third party e-commerce platforms

203.2

148.1

37.2

Online marketing and information services and other revenue

10.3

0.5

1,944.2

Total

321.8

238.4

35.0

Gross profit was RMB56.4 million (US$8.7 million), an increase of 30.3% from RMB43.3 million in the same quarter of fiscal year 2021.

Gross margin was 17.5%, compared with 18.1% in the same quarter of fiscal year 2021. The decrease was mainly due to the increased e-commerce promotions during the 618 Shopping Festival resulting in lower price points.

Operating expenses were RMB97.9 million, an increase of 14.6% from RMB85.4 million in the same quarter of fiscal year 2021. Operating expenses as a percentage of total revenues was 30.4%, down from 35.8% in the same quarter of fiscal year 2021.

  • Fulfillment Expenses were RMB32.9 million, a decrease of 2.2% from RMB33.6 million in the same quarter of fiscal year 2021. Fulfillment expenses as a percentage of total revenues were 10.2%, down from 14.1% in the same quarter of fiscal year 2021. The decrease was mainly due to: (i) the improved utilization of warehouses by adjusting inventory mix; (ii) more cost-efficient China warehouse relocations; and (iii) lower delivery service prices through renegotiation with third-party delivery service providers.
  • Sales and marketing expenses were RMB45.5 million, an increase of 30.2% from RMB34.9 million in the same quarter of fiscal year 2021. The increase was primarily due to: (i) the increased personnel expense of RMB3.2 million and increased advertising fee of RMB4.1 million which was in line with our revenue growth, and (ii) the increased share-based compensation expense of RMB1.3 million. Sales and marketing expenses as a percentage of total revenue were 14.1%, down from 14.7% in the same quarter of fiscal year 2021.
  • General and administrative expenses were RMB19.6 million, an increase of 16.0% from RMB16.9 million in the same quarter of fiscal year 2021. The increase was primarily due to the increased share-based compensation expense of RMB4.7 million, partially offset by the reduced professional expense of RMB2.2 million with the Company’s initial public offering in the same quarter of fiscal year 2021. General and administrative expenses as a percentage of total revenue were 6.1%, down from 7.1% in the same quarter of fiscal year 2021.

Operating loss was RMB41.5 million (US$6.4 million), compared to RMB42.1 million in the same quarter of fiscal year 2021.

EBITDA was a loss of RMB35.6 million (US$5.5 million), compared to a loss of RMB35.4 million in the same quarter of fiscal year 2021.

Net loss was RMB37.4 million (US$5.8 million), compared to net loss of RMB42.3 million in the same quarter of fiscal year 2021.

Adjusted net loss was RMB31.5 million (US$4.9 million), compared to adjusted net loss of RMB44.4 million in the same quarter of fiscal year 2021.

Diluted net loss per share was RMB0.52 (US$0.08), compared to diluted net loss per share of RMB4.06 in the same quarter of fiscal year 2021.

Total cash and cash equivalents and short-term investments were RMB415.7 million (US$64.4 million), compared to RMB460.8 million as of March 31, 2021.

Conference Call

Boqii’s management will hold a conference call to discuss the financial results at 8:00 AM on Friday, August 20, 2021, U.S. Eastern Time (8:00 PM on Friday, August 20, 2021, Beijing/Hong Kong Time).

To join the conference, please dial in 15 minutes before the conference is scheduled to begin using below numbers.

Phone Number

International

1-412-317-6061

United States

1-888-317-6003

Hong Kong

852 800 963-976

Mainland China

86 4001-206115

Passcode

7711990

A replay of the conference call may be accessed by phone at the following numbers until August 27, 2021.

Phone Number

International

1-412-317-0088

United States

1-877-344-7529

Replay Access Code

10159611

A live and archived webcast of the conference call will be available on the Company’s investor relations website at http://ir.boqii.com/.

About Boqii Holding Limited

Boqii Holding Limited (NYSE: BQ) is a leading pet-focused platform in China. We are the leading online destination for pet products and supplies in China with our broad selection of high-quality products including global leading brands, local emerging brands, and our own private label, Yoken and Mocare, offered at competitive prices. Our online sales platforms, including Boqii Mall and our flagship stores on third-party e-commerce platforms, provide customers with convenient access to a wide selection of high-quality pet products and an engaging and personalized shopping experience. Our Boqii Community provides an informative and interactive content platform for users to share their knowledge and love for pets.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding such risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

Non-GAAP Financial Measures

The Company uses non-GAAP financial measures, namely adjusted net loss, adjusted net loss margin, EBITDA and EBITDA margin, in evaluating its operating results and for financial and operational decision-making purposes. The Company defines (i) adjusted net loss as net loss excluding fair value change of derivative liabilities and share-based compensation expenses, (ii) adjusted net loss margin as adjusted net loss as a percentage of total revenues, (iii) EBITDA as net loss excluding income tax expenses, interest expense, interest income, depreciation and amortization expenses, (iv) EBITDA margin as EBITDA as a percentage of total revenues. The Company believes adjusted net loss, adjusted net loss margin, EBITDA and EBITDA margin enhance investors’ overall understanding of its financial performance and allow for greater visibility with respect to key metrics used by its management in its financial and operational decision-making.

These non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. As these non-GAAP financial measures have limitations as analytical tools and may not be calculated in the same manner by all companies, they may not be comparable to other similarly titled measures used by other companies. The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measures, which should be considered when evaluating the Company’s performance. For reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the section of the accompanying tables titled, "Reconciliation of GAAP and Non-GAAP Results." The Company encourages investors and others to review its financial information in its entirety and not rely on any single financial measure.

Exchange Rate

This press release contains translations of certain RMB amounts into U.S. dollars ("USD") at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to USD were made at the rate of RMB6.4566 to US$1.00, the noon buying rate in effect on June 30, 2021 in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or USD amounts referred to could be converted into USD or RMB, as the case may be, at any particular rate or at all.

For investor and media inquiries, please contact:

In China:

Boqii Holding Limited
Investor Relations
Tel: +86-21-6882-6051
Email: ir@boqii.com

The Blueshirt Group
Ms. Susie Wang
Email: susie@blueshirtgroup.com

In the United States:

The Blueshirt Group
Ms. Julia Qian
Email: julia@blueshirtgroup.com

BOQII HOLDING LIMITED

UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands, except for share and per share data, unless otherwise noted)

As of

As of

As of

March 31,

June 30,

June 30,

2021

2021

2021

RMB

RMB

US$

ASSETS

Current assets:

Cash and cash equivalents

292,237

287,060

44,460

Short-term investments

168,546

128,678

19,930

Accounts receivable, net

45,732

74,277

11,504

Inventories, net

91,551

105,809

16,388

Prepayments and other current assets

85,261

74,613

11,556

Amounts due from related parties

11,465

34,294

5,311

Total current assets

694,792

704,731

109,149

Non-current assets:

Property and equipment, net

8,386

8,338

1,291

Intangible assets

29,537

28,540

4,420

Operating lease right-of-use assets

29,234

32,805

5,081

Long-term investments

74,330

79,232

12,271

Goodwill

40,184

40,684

6,301

Other non-current asset

4,111

4,024

624

Total non-current assets

185,782

193,623

29,988

Total assets

880,574

898,354

139,137

LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ DEFICIT

Current liabilities

Short-term borrowings

85,566

103,332

16,004

Accounts payable

71,848

114,384

17,716

Salary and welfare payable

6,309

4,860

753

Accrued liabilities and other current liabilities

30,055

30,096

4,661

Amounts due to related parties, current

910

10,178

1,577

Contract liabilities

3,866

3,474

538

Operating lease liabilities, current

8,063

9,639

1,493

Derivative liabilities

9,996

10,125

1,568

Total current liabilities

216,613

286,088

44,310

Non-current liabilities

Deferred tax liabilities

8,958

8,711

1,349

Operating lease liabilities, non-current

19,997

21,891

3,390

Long-term borrowings

68,075

49,674

7,693

Other debts, non-current

433,292

365,256

56,571

Total non-current liabilities

530,322

445,532

69,003

Total liabilities

746,935

731,620

113,313

Mezzanine equity

Redeemable non-controlling interests

5,946

6,086

943

Total mezzanine equity

5,946

6,086

943

Stockholders’ equity:

Class A ordinary shares (US$0.001 par value; 129,500,000 shares authorized,
   54,505,108 and 54,556,503 shares issued and outstanding as of March 31
   and June 30, 2021, respectively)

364

365

56

Class B ordinary shares (US$0.001 par value; 15,000,000 shares authorized,
   13,037,729 shares issued and outstanding as of March 31 and June 30,
   2021, respectively)

82

82

13

Additional paid-in capital

3,272,612

3,279,409

507,916

Statutory reserves

3,047

3,117

483

Accumulated other comprehensive loss

(20,172)

(28,884)

(4,474)

Accumulated deficit

(2,759,882)

(2,794,987)

(432,888)

Receivable for issuance of ordinary shares

(413,377)

(343,068)

(53,135)

Total Boqii Holding Limited shareholders’ equity

82,674

116,034

17,971

Non-controlling interests

45,019

44,614

6,910

Total shareholders’ equity

127,693

160,648

24,881

Total liabilities, mezzanine equity and shareholders’ equity

880,574

898,354

139,137

Notes for all the condensed consolidated financial schedules presented:

Note 1: The conversion of Renminbi (RMB) into U.S. dollars (USD) is based on the certified exchange rate of USD1.00=RMB6.4566
on June 30, 2021 published by the Federal Reserve Board.

 

 

BOQII HOLDING LIMITED

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(All amounts in thousands, except for share and per share data, unless otherwise noted)

Three Months Ended June 30,

2020

2021

2021

RMB

RMB

US$

Net revenues:

Product sales

237,932

311,493

48,244

Online marketing and information services and other revenue

506

10,353

1,604

Total revenues

238,438

321,846

49,848

Total cost of revenue

(195,168)

(265,465)

(41,115)

Gross profit

43,270

56,381

8,733

Operating expenses:

Fulfillment expenses

(33,632)

(32,887)

(5,094)

Sales and marketing expenses

(34,944)

(45,485)

(7,045)

General and administrative expenses

(16,868)

(19,571)

(3,031)

Other income, net

47

12

2

Loss from operations

(42,127)

(41,550)

(6,435)

Interest income

1,716

5,187

803

Interest expense

(7,143)

(6,062)

(939)

Other gain, net

2,897

3,128

484

Fair value change of derivative liabilities

2,106

162

25

Loss before income tax expenses

(42,551)

(39,135)

(6,062)

Income taxes expenses

309

1,009

156

Share of results of equity investees

(57)

766

119

Net loss

(42,299)

(37,360)

(5,787)

Less: Net income/(loss) attributable to the non-controlling
   interest shareholders

279

(2,467)

(382)

Net loss attributable to Boqii Holding Limited

(42,578)

(34,893)

(5,405)

Less: Accretion on convertible redeemable preferred shares to
   redemption value

(35,137)

–

–

Less: Accretion on redeemable non-controlling interests to
   redemption value

–

(140)

(22)

Less: Deemed dividend to preferred shareholders

(12,547)

–

–

Net loss attributable to Boqii Holding Limited‘s ordinary
   shareholders

(90,262)

(35,033)

(5,427)

Net loss

(42,299)

(37,360)

(5,787)

Other comprehensive loss:

Foreign currency translation adjustment, net of nil tax

(801)

(8,712)

(1,349)

Unrealized securities holding gains

1,195

–

–

Total comprehensive loss

(41,905)

(46,072)

(7,136)

Less: Total comprehensive income/(loss) attributable to non-
   controlling interests shareholders

279

(2,467)

(382)

Total comprehensive loss attributable to Boqii Holding
   Limited

(42,184)

(43,605)

(6,754)

Net loss per share attributable to Boqii Holding Limited’s
   ordinary shareholders

— basic

(4.06)

(0.52)

(0.08)

— diluted

(4.06)

(0.52)

(0.08)

Weighted average number of ordinary shares

— basic

22,238,454

67,640,952

67,640,952

— diluted

22,238,454

67,640,952

67,640,952

Notes for all the condensed consolidated financial schedules presented:

Note 1: The conversion of Renminbi (RMB) into U.S. dollars (USD) is based on the certified exchange rate of
USD1.00=RMB6.4566 on June 30, 2021 published by the Federal Reserve Board.

 

 

Boqii Holding Limited

Reconciliation of GAAP and Non-GAAP Results

(In thousands)

Three Months Ended June 30,

2020

2021

RMB

RMB

Net loss

(42,299)

(37,360)

Fair value change of derivative liabilities

(2,106)

(162)

Share-based compensation

–

5,986

Adjusted Net Loss

(44,405)

(31,536)

Adjusted Net Loss Margin

(18.6%)

(9.8%)

Three Months Ended June 30,

2020

2021

RMB

RMB

Net loss

(42,299)

(37,360)

Income tax expenses

(309)

(1,009)

Interest expenses

7,143

6,062

Interest income

(1,716)

(5,187)

Depreciation and amortization

1,750

1,928

EBITDA

(35,431)

(35,566)

EBITDA Margin

(14.9%)

(11.1%)

 

PR Newswire

Dada Group and CP Group Retail Division Partner to Provide Omni-channel On-demand Delivery Services for CP Lotus and CP Fresh Mart

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SHANGHAI, Aug. 20, 2021 — Dada Group (Nasdaq: DADA), China’s leading local on-demand delivery and retail platform, and Charoen Pokphand Group (CP Group)’s Retail Business Division, today announced a partnership to provide omni-channel on-demand delivery services for CP Group’s CP Lotus, a leading supermarket chain, and CP Fresh Mart, a community-based supermarket in China. CP Group is one of the world’s most influential multinational company operating by ethnic Chinese.

A Dada Now rider takes online orders for delivery at a CP Lotus store in Beijing
A Dada Now rider takes online orders for delivery at a CP Lotus store in Beijing

Dada Now, Dada’s on-demand delivery platform, launched a customized service program "Dedicated Delivery" for chain merchants. This program provides a "stationed + crowdsourcing" delivery model and services. Through the cooperation, the service will be adopted in CP Lotus and CP Fresh Mart’s stores, covering Beijing, Zhengzhou and Chongqing in the first round.

CP Lotus and CP Fresh Mart stores started to launch on JDDJ (JD Daojia), the on-demand retail platform of Dada Group, in 2016 and 2017 respectively, while Dada Now has provided on-demand delivery and online order fulfillment services. Under the cooperation, besides orders from JDDJ, Dada Now will fulfill online orders from WeChat mini program and third-party grocery platform. The cooperation will further expand to more categories and businesses, and improve order fulfillment efficiency in more regions throughout the country.

According to JDDJ data, in the first half of 2021, CP Lotus’ sales on JDDJ increased by over 1.5 times year-on-year. The average delivery time for CP Lotus and Fresh Mart’s online orders on JDDJ was about 40 minutes from January 1st to July 31st, 2021.

Mr. Liu Liu, President of the Retail Business Department at CP Group Head Office, said that Dada Group has fully demonstrated its powerful strengths in online operations. Through its retail empowerment strategy, Dada Group improves consumers’ online shopping experience by creating better online consumption platform and providing omni-channel order fulfillment. In terms of retail business, CP Group will leverage strengths in the "from the farm to the table" across its full industry chain, community business and services, and partner with Dada Group to offer better online and offline consumption services, facilitate the development of O2O business, put consumer needs first, and provide solutions for diversified shopping scenarios.

Mr. Mingyang Zhu, Head of Key Account Business at Dada Now, said that as a well-known multinational company, CP Group has advanced retail operation strategy, and pioneered in diverse retail ecosystem. Its established community retail experience system is getting stronger, striving to become the closest partner in consumer’s family life.  Dada Now will assist CP Group in establishing the community retail experience system with high delivery efficiency and lower costs, by leveraging innovations in delivery models and technologies. Working together, Dada Group and CP Group will provide consumers with a more convenient and efficient shopping experience.

About Dada Group

Dada Group is a leading platform of local on-demand retail and delivery in China. It operates JDDJ, one of China’s largest local on-demand retail platforms for retailers and brand owners, and Dada Now, a leading local on-demand delivery platform open to merchants and individual senders across various industries and product categories. The company’s two platforms are inter-connected and mutually beneficial. The Dada Now platform enables improved delivery experience for participants on the JDDJ platform through its readily accessible fulfillment solutions and strong on-demand delivery infrastructure. Meanwhile, the vast volume of on-demand delivery orders from the JDDJ platform increases order volume and density for the Dada Now platform. In June 2020, Dada Group began trading on the Nasdaq Global Market, under the ticker symbol "DADA."

About CP Group

Charoen Pokphand Group (CP Group) is one of the largest ethnic Chinese multinational companies in the world. Its vision is to be the kitchen of the world and energy for human beings. Its retail business has hundreds of CP Fresh Mart, more than 100 CP Lotus and nearly 10000 CP Food direct-sale stores in Guangzhou, Beijing, Shanghai, Changsha, Zhengzhou, Chongqing, Qingdao, Lanzhou and other cities in China. CP Group is continuously expanding its geographic scope of online and offline retail business.

Related Links :

http://imdada.cn

PR Newswire

Bambuser’s Nomination Committee proposes that Sonia Gardner and Jørgen Madsen Lindemann be elected as new board members – Alexander Mcintyre has announced his intention to resign from the board

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STOCKHOLM, Aug. 20, 2021 — To further strengthen the board of directors competence the Nomination Committee of Bambuser proposes that Sonia Gardner and Jørgen Madsen Lindemann, respectively, be elected as new board members of Bambuser. At the same time, Alexander Mcintyre has announced that he intends to resign from the board of directors.

In light of the Nomination Committee’s proposal, the board of directors intends to convene an Extraordinary General Meeting whereas the notice will be published separately. Alexander Mcintyre will leave the board of directors in connection to the Extraordinary General Meeting.

"The board of directors thanks Alexander for his efforts and contributions to the Company over recent years. We wish Alexander every success in the future," said Joel Citron, Chairman of Bambuser’s board of directors.

Sonia Gardner (born 1962) is President, Managing Partner and Co-Founder of Avenue Capital Group, a global alternative investment manager with over $11 billion in assets under management. She is the Partner in charge of managing the firm, which she co-founded with her brother in 1995. Sonia previously served as Chair of the Global Board of Directors of 100 Women in Finance, and continues to serve as Chairman Emeritus. She currently serves as a member on the Client Advisory Board of Citi Private Bank. Ms. Gardner is the United Nations Capital Development Fund (UNCDF) Goodwill Ambassador for Gender Equality in Access to Finance. Her focus is advocating for ways to give women access to economic resources to start and grow businesses, lift their families out of poverty, and help achieve the U.N.’s Sustainable Development Goals. Sonia Gardner is independent in relation to the Company and its management as well as to the Company’s major shareholders.

Jørgen Madsen Lindemann (born 1966) has an upper secondary education from Gentofte Gymnasium. Jørgen Madsen Lindemann is currently a board member of Miinto Group and WaterBear Network. He has previously held roles such as the President and Chief Executive Officer of Modern Times Group MTG AB and board member of Zalando. Jørgen Madsen Lindemann is independent in relation to the company and its management and dependent in relation to the company’s major shareholders.

The Nomination Committee assesses that Sonia Gardner and Jørgen Madsen Lindemann have competence and backgrounds that are well suited for the work of the company’s board of directors and that the election of Sonia Gardner and Jørgen Madsen Lindemann is well in line with the discussions held within the Nomination Committee regarding competence development and gender equality.

PR Newswire

Ninja Survey Finds Gen Z and Millennial Parents Are Bored with Their Recipe Rotation and Looking to Spice Things Up

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Ninja launches Ninja® Foodi® XL Pressure Cooker Steam Fryer with SmartLid™ to make cooking easier, faster, juicier and crispier results in one Multicooker+

NEEDHAM, Mass., Aug. 18, 2021 — Ninja (HKEX: 1691.HK), the brand in small kitchen appliances*, announced findings from its recent survey surrounding what people look for when cooking and sources of cooking inspiration. While people have been cooking more over the past year, the survey found that a majority of Gen Z and Millennial parents wish they knew more recipes (79%)** and most feel like they cook the same meals all the time (77%).

The survey also found that:

  • 74% of Millennials want to feel more confident in the kitchen, including 80% of Millennial parents
  • Nearly half of Millennials say they are bored with the recipes they know; this boredom increases to 56% when looking at Gen Z and Millennial parents
  • 73% of Gen Z and Millennial parents are looking for recipe inspiration
  • One third of Gen Z and Millennial parents prioritize meals that are quick to make
  • 40% of Gen Z and Millennial parents have trouble following recipes (compared to only 25% of total surveyed)

To help combat kitchen fatigue, today, Ninja unveils its newest innovation, the Ninja® Foodi® XL Pressure Cooker Steam Fryer with SmartLid™ which offers an efficient way of cooking with its SteamCrisp™ Technology and SmartLid™.  It has three different cooking modes – pressure cook, air fry, and SteamCrisp™ – and 14 cooking functions all under one SmartLid™. Using the SteamCrisp™ Technology, unlock the juiciest way to air fry, prepare 1-touch meals up to 40% faster++, and bake artisan breads and cakes up to 25% faster***.

The Ninja® Foodi® XL Pressure Cooker Steam Fryer with SmartLid™ offers three cooking modes and 14 cooking functions under one lid. It is available in an 8-qt capacity for $329.99 at NinjaKitchen.com.
The Ninja® Foodi® XL Pressure Cooker Steam Fryer with SmartLid™ offers three cooking modes and 14 cooking functions under one lid. It is available in an 8-qt capacity for $329.99 at NinjaKitchen.com.

As consumers are eager for new food ideas and gaining kitchen confidence, Ninja released its inaugural SmartLid™ SmartList, a quintessential compellation of modern recipes and food prep techniques to enable home cooks to keep their bustling kitchen bursting with delicious inspiration and cook more efficiently.

Ninja also partnered with Eitan Bernath, a chef, digital content creator and principal culinary contributor for the "Drew Barrymore Show" on CBS, to share tips on how to make cooking easier and more fun with Ninja’s latest product innovation.

"I’m excited to partner with Ninja to share cooking tricks and highlight the new Ninja® Foodi® XL Pressure Cooker Steam Fryer with SmartLid™," said Eitan Bernath. "It makes cooking easier, more efficient and fun, which people are craving as they’re busy returning to the office and kids are going back to school."

The Ninja® Foodi® XL Pressure Cooker Steam Fryer with SmartLid™ is available in an 8-qt capacity for $329.99 at NinjaKitchen.com. Its 14 functions include:

  • Pressure Cook
  • Steam & Crisp
  • Steam & Bake
  • Air Fry
  • Broil
  • Bake/Roast
  • Dehydrate
  • Sear/Sauté
  • Steam
  • Sous Vide
  • Slow Cook
  • Yogurt
  • Keep Warm
  • Proof

SmartLid™ represents the latest example of the synergies found between SharkNinja and Joyoung engineering teams, (under the parent company, JS Global Lifestyle) whose collaboration on this project have allowed us to bring this exciting new product to the world.

**All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 1260 adults. Fieldwork was undertaken between 21st – 22nd July 2021. The survey was carried out online. The figures have been weighted and are representative of all US adults (aged 18+) with a margin of error of +/- 3% at 95% confidence.

++ Versus traditional cooking methods

***Versus traditional oven

+ Vesus Ninja Foodi OL601 in Dry Mode Only

About Ninja: 

What we believe 

You can make it. 

Ninja believes that if you want to cook at home, you can. If you want to experiment more with recipes and ingredients, you can. If you want to cook dinner every single night, you can. If you want to be proud of what you’re serving your family, you, without a doubt, can. We design tools and appliances that help you achieve endless opportunities with food, regardless of how much experience you have. It is our belief that if you have the desire to cook, that you can make it, and we’re here to help you do it in ways that are fast, easy, and delicious.

PR Newswire

Guangdong Premium Products International Trade Online Expo – Apparel & Textiles Expo opens

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GUANGZHOU, China, Aug. 16, 2021 — The Guangdong Premium Products International Trade Online Expo – Apparel & Textiles Expo, organized by CCPIT Guangdong Committee and managed by Guangdong Guangzhan International Exhibition Co., Ltd., will open at the International Trade Online Expo (ITOE) (en.itoegd.com) on August 16, 2021 and continue until August 20.

Guangdong Premium Products International Trade Online Expo - Apparel & Textiles Expo opens
Guangdong Premium Products International Trade Online Expo – Apparel & Textiles Expo opens

The expo features eight major exhibition areas, including cross-border exclusive supply, leisure sports, undergarments & pajamas, household supplies & home textiles, infants’ & children’s clothing, wedding dresses & Hanfu (tradional Chinese-style formal wear), shoes & bags as well as raw materials & accessories. With more than 30 online economic and trade events scheduled and nearly 400 high-quality brands slated to exhibit, the expo gives buyers a chance to get an in-depth understanding of an exhibitor’s design and production capabilities through various communications channels including round-the-clock virtual access to the exhibited items, comprehensive "zero-distance" virtual tours of the exhibitor’s production facilities, and the ability to engage in business negotiations via an "in-the-cloud" videoconferencing set-up.

Of the exhibitors at the event, 90% are from Guangdong province, the world’s third largest garment export base. Buyers can find suppliers specializing in cross-border shipping and view their wares in the "cross-border exclusive supply" exhibition area.

The Hanfu & wedding dresses exhibition area will showcase various styles of traditional Chinese classical and modern Hanfu while exhibitors from Chaozhou, Guangdong province, a town known as the world’s wedding and evening dressmaker, will display a vast line-up of boutique wedding dresses as well as other new and stylish matrimonial wear.

On the first day of the expo, many brands, including DETERMINANT, specialized in the production of long-staple cotton men’s shirts, and Dongguan Topgood Handbag Leather, maker of a recently-launched exclusive patented coffee-scented bag, attracted online audiences from many countries and regions by holding live-streamed factory tours.

The expo will bring together a strong lineup of leading apparel and textile brands and manufacturers which can meet the diversified needs of today’s buyers. The organizing committee has also set up a one-on-one online purchasing and marketing matching meeting program to match buyers and suppliers. Buyers can complete all their purchasing needs through the "one-stop" purchasing facility provided by the cloud-based expo. Sign up here for the online purchasing and marketing matching meeting.

To find the right sources for your needs and expand business channels, visit en.itoegd.com.

 

PR Newswire

TCL Technology Announces Results for First Half of 2021, Net Profit Hits USD1.426 Billion

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SHENZHEN, China, Aug. 14, 2021 — TCL Technology Group Corporation ("TCL Technology", Stock Code 000100.SZ), a publicly listed company focusing on the semiconductor display and materials industry, has announced its interim results for the six months ("the reporting period") ended 30 June 2021.

During the reporting period, the company achieved operating income of around USD11.45 billion, a year-on-year increase of 153.3%; net profit was around USD1.426 billion, a 7.65 times increase year-on-year; net profit attributable to shareholders was around USD1.04 billion, a year-on-year increase of 461.5%. The company’s two core industries, semiconductor displays and semiconductor photovoltaics, achieved significant growth over this period and the company’s annual budget target has been surpassed.

Furthermore, TCL CSOT, TCL Technology’s panel production subsidiary, achieved sales area of 17.792 million square meters with a year-on-year increase of 25.3%. The semiconductor display business of TCL CSOT achieved operating income of USD6.29 billion, a year-on-year increase of 93.6%; net profit was USD1.01 billion, a year-on-year increase of USD1.04 billion. In the second quarter of 2021, TCL CSOT achieved a net profit of USD649.15 million, a quarter-on-quarter increase of 76%. Through continuous expansion and optimization of product structure, TCL CSOT continued to increase its market share in various fields, including TV panels, interactive whiteboards, LTPS, etc.

Additionally, Zhonghuan Semiconductor, a subsidiary of TCL that focusing on semiconductors and new energy, also contributed to the Company’s profit growth in the first half of 2021. Zhonghuan Semiconductor achieved operating income of USD2.7 billion, a year-on-year increase of 104.1%, and net profit of USD291.42 million, a year-on-year increase of 160.6%. During the reporting period, the photovoltaic industry has developed rapidly. Over this time Zhonghuan Semiconductor’s accumulated technological advantages have emerged, the product structure has been transformed smoothly and the scale of production capacity has been continuously improved.

Looking ahead, TCL Technology will continue to optimize its business strategies focusing on semiconductor displays, semiconductor photovoltaics and semiconductor materials. Meanwhile, TCL Technology will continue its innovation-driven development, improve operational quality and efficiency, and accelerate global layout, to boost competitiveness and lead the global industry.

About TCL

TCL empowers customers to enjoy more. With a lineup of award-winning televisions, audio products, mobile devices, and appliances, TCL takes pride in delivering meaningful experiences by combining thoughtful design and the latest technology. As one of the world’s largest consumer electronics brands, our extensive manufacturing expertise, a vertically integrated supply chain, and state-of-the-art panel factory, helps TCL deliver innovation for all. For additional product information, please visit www.tcl.com for the full portfolio.

About TCL CSOT

TCL CSOT (TCL China Star Optoelectronics Technology Co., Ltd), is a company committed to developing new technologies and innovations in semiconductor display industry. TCL CSOT actively invests in future technologies such as Mini-LED, Micro-LED, OLED, and Ink-Jet Printing OLED. The company business includes large area display, small medium display and touch modules, interactive white boards, video walls, automotive displays, and gaming monitors, which contributes to the core competence in the global panel industry.

About Tianjin Zhonghuan Semiconductor

Zhonghuan Semiconductor takes new energy materials and semi-conductor materials as its dual main business to drive development, including the R&D, production and sales of semi-conductor wafers, semi-conductor devices, solar wafers and solar cell modules, as well as the construction and operation of photovoltaic power stations. On July 15, 2020, TCL acquired Zhonghuan Semi-conductor, achieving the significant presence and strategic reserve in the field of semi-conductors and new energy.

 

PR Newswire

Fashion e-commerce POPSHOWROOM debuts at MAGIC Las Vegas

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LAS VAGAS, Aug. 11, 2021 — POPSHOWROOM, a fashion brand aiming for a flexible fashion-on-demand supply chain, makes its debut at MAGIC fashion trade, the largest trade show in the United States, from August 8th to 11th, 2021. 

Visitors showing great interest in POPSHOWROOM's low MOQ and short lead time.
Visitors showing great interest in POPSHOWROOM’s low MOQ and short lead time.

Vibrance of life and youthfulness is the message POPSHOWROOM wants to convey. Inspire women to live an à la mode casual and energetic lifestyle, POPSHOWROOM will present a curated collection of active and casual wear. They are designed for those who are meant to bringing forward creativity, self-expression, and passion for life. The offering combines diverse trendy elements to create a relaxed and carefree look, including tie-dye, crochet, irregular cuts, stretchable light-weight fabrics, and many more.

The significance of sticking together has been key for the period where we are in now, after having been through the physical distancing on a global scale. POPSHOWROOM has been staying connected with its community and growing via social platforms. The brand has been interacting with its global audience via Live Q&A, shopping and ordering live streaming, and many other online events. In facing the fact that many merchants are not able to personally be part of the MAGIC community as the result of travel restrictions, POPSHOWROOM will continue its community engagement by going live during the exhibition and broadcasting through its Instagram account @thepopshowroom. Promotions and giveaways will be hosted as well to create a vibrant experience for its customers regardless of their geological locations.

What POPSHOWROOM presents at MAGIC is only part of its aspiration. This brand is developing an all-over print print-on-demand service. All-over printing is a new and exciting trend that recently hits the printing world, which a few print-on-demand platforms have dived into. What is special about POPSHOWROOM is that its all-over printing tool allows anyone, without knowing how to cut and sew patterned materials into ready-to-wears, can still be an all-over print designer.

Holding respect for those individuals who are dreaming of having their fashion lines, POPSHOWROOM aims to build an efficient and agile supply chain. This will benefit these small- and medium-sized entrepreneurs financially and psychologically through lowered inventory risk, minimized design cost and accelerated capital turnover — everything that matters to scale up their businesses.

"I am an independent artist running a small souvenir shop which also sells stuff with designs of my own. For clothing items, I used to buy from domestic wholesalers, yet they only provide the most basic styles. There are few choices when it comes to, for instance, neck shapes. As my business is growing bigger, I need more styles and variations. I found POPSHOWROOM online. Their products are amazing. A large base of various patterns and various customization services are offered at an affordable price. Their pricing is absolutely reasonable for such quality and service."

This is the review of one of their customers, Yolanda, who owns a shop selling local souvenirs and t-shirts with the prints designed by herself.

POPSHOWROOM is excited to be part of this energetic fashion event. The brand is looking forward to acquiring a keen understanding about its global audience, establishing a closer collaboration with influencers, and gaining deeper insights from industry thought leaders.

Visit their website for more information about their services: https://www.popshowroom.com/

Stay connected:

Website: www.popshowroom.com
Instagram: www.instagram.com/thepopshowroom
Linkedin: linkedin.com/company/popshowroom-official
Facebook: www.facebook.com/thepopshowroom.me

Related Links :

https://www.popshowroom.com/

PR Newswire

CloudSense ramps up B2B selling with upgraded capabilities in latest release of CPQ application suite

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New features on the CloudSense platform will simplify and speed up B2B customer engagement in key industries

LONDON, Aug. 10, 2021 — CloudSense, provider of the world’s most powerful Configure, Price, Quote (CPQ) engine, empowers leading brands to launch, sell and manage the entire B2B customer lifecycle for sophisticated products, subscriptions and services. With the latest release (R34) of its category-defining SaaS platform, CloudSense has taken another step towards helping Communications, Media and Utility companies to increase the speed and efficiency of serving their customers. Highlights of the new release include the following capabilities:

 

  • Bulk Subscriber Management, a wholly new addition to CloudSense Order Management enables mass customer product upgrades and service changes for Telcos and Utilities.  It gives them the freedom to roll out competition-enhancing offers, such as the addition of new 5G tariffs to thousands or even millions of end users at speed knowing they can be executed in hours rather than days.
  • The full integration of Magnite (the world’s largest independent sell-side media advertising exchange) with the CloudSense media platform allows publishers to access new revenue streams directly from their main sales platform interface.
  • The new release also reduces the time and cost of managing programmatic guaranteed business for media companies.  Integrations with Google’s demand-side programmatic buying platform, DV360, are now available. These make it easy to formulate optimized Programmatic Guarantee proposals for business customers without leaving the CloudSense platform, and faster to close new business.
  • With self-service channels becoming increasingly important for B2B as well as B2C markets, CloudSense has also introduced advanced functionality around pricing into its Digital Commerce offering. The new Advanced Pricing capability allows CloudSense customers to build highly tailored, individually branded self-service experiences that match the different end-user roles of its B2B customers. Importantly, options for each end-user customer will reflect pricing that has been negotiated within the overall contract for that specific account.

"Enterprises in Communications, Media and Utilities are in a race to transform their businesses to thrive in a digital-first world.  Speed and efficiency in and across revenue operations is essential. All too often however, solutions fall short of power and flexibility to support their more complex B2B use cases at scale.  In our latest release, we’ve added meaningful functionality that is ready to use and quick to deliver business impact," said Alex Fuller, CTO, CloudSense.

About CloudSense

The CloudSense Configure, Price, Quote (CPQ) engine powers increased productivity and profits for ambitious enterprises allowing them to launch faster, sell more and fulfill orders faultlessly. Its growing global community of customers span multiple industries including Communications, Media and Energy. Leading brands including Telefonica, Telstra, Informa and British Gas are using CloudSense’s portfolio of applications to streamline the entire customer lifecycle to provide a better customer experience while improving business performance.  To find out more, visit CloudSense.com

For more information contact: 
Daniela Zuin, CMO, CloudSense
Tel: +44 7526 168170
Email: daniela.zuin@cloudsense.com

Logo – https://techent.tv/wp-content/uploads/2021/08/cloudsense-ramps-up-b2b-selling-with-upgraded-capabilities-in-latest-release-of-cpq-application-suite.jpg

 

PR Newswire

Eagle Eye Solutions Recognised in Now Tech: Promotions and Offer Management Providers, Q3 2021 Report by Independent Research Firm

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LONDON, Aug. 5, 2021 — Eagle Eye Solutions, a global marketing technology company that helps retailers create one-to-one customer connections, announced its inclusion in Forrester’s Now Tech: Promotions and Offer Management Providers, Q3 2021 Report. The Company is listed in the midsize grouping ($15M to $60M annual category revenue). Eagle Eye Solutions is included in both the loyalty standalone and loyalty embedded functionality segments with the grocery, retail, and hospitality vendor market focuses.

 

 

The report cites three essentials for businesses looking to improve their promotions and offer management:

  • Stand out from your competitors, personalize every offer to each customer or segment; personalised experiences drive loyalty, which delivers a greater return than a single conversion
  • Use real-time or near-real-time analytics and reporting to understand where offers should be modified to optimise outcomes
  • Create an omnichannel strategy, serving offers in all channels from a single source

"We are honored to be included in Forrester’s Now Tech report of Promotions and Offer Management Providers," said Tim Mason, CEO of Eagle Eye. "We believe the Forrester report reinforces the value Eagle Eye delivers to current and potential clients who are looking to create an omnichannel strategy, to personalise every interaction with their customers, and improve the efficacy of their promotional and loyalty programmes using our AIR Platform."

Eagle Eye works with leading grocers, retailers, hospitality companies and consumer-packaged goods brands, providing them with the technology to connect all aspects of the customer journey in real-time. Eagle Eye AIR is an API-based SaaS platform that provides the most flexible, scalable, and future-proofed promotions, loyalty and gifting capability in the world. AIR solves the primary problem faced by leading businesses when trying to build deeper, more personalised relationships with their customers – connection.

To learn more about Eagle Eye, visit www.eagleeye.com, or to schedule an interview with Tim Mason, please contact Sylvia Kindlain at skindlain@thinkinkpr.com. Forrester’s Now Tech: Promotions and Offer Management Providers, Q3 2021 report is now available to download on eagleeye.com.

About Eagle Eye Solutions
Eagle Eye is a leading SaaS technology company transforming marketing by creating digital connections that enable personalised performance marketing in real-time through promotional coupons, loyalty schemes, subscription programmes, and gift services.

Eagle Eye AIR enables the secure issuance and redemption of digital offers and rewards at scale across multiple channels, enabling a single customer view. We create a network between merchants, brands and audiences to enable customer acquisition, interaction and retention at lower cost while driving marketing innovation.

The Company’s current customer base comprises leading names in UK Grocery, Retail, Leisure and Food & Beverage sectors, including Asda, Sainsbury’s, Tesco, Waitrose and John Lewis & Partners, Virgin Red, JD Sports, Pret a Manger, Greggs, Mitchells & Butlers and Pizza Express; in North America, Loblaws, Shoppers Drug Mart and Southeastern Grocers and in Australia & New Zealand, Woolworths Group and The Warehouse Group.

Eagle Eye is headquartered in Guildford, United Kingdom and has offices in Manchester, Toronto, Florida and Melbourne.

Related Links :

https://www.eagleeye.com