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Preparations for Asian Games Hangzhou 2022 pick up pace

October 10, 2020 TechENT Syndication Leave a comment

A series of promotional events and launches start the two-year countdown to Hangzhou’s sporting showpiece

HANGZHOU, China, Oct. 10, 2020 — A news report from China Daily:

The 19th Asian Games Hangzhou 2022 will be held from Sept 10 to 25, 2022 in Hangzhou, capital of East China’s Zhejiang province. China Daily is teaming up with the organising committee of the Games to spotlight the preparation for and facts about the Hangzhou Asian Games.

The two-year countdown event for the 19th Asian Games Hangzhou 2022 is held in Hangzhou, Zhejiang province, on Sept 22. XIAO DA/CHINA DAILY

Preparations for the 19th Asian Games Hangzhou 2022 are already in full swing and the Hangzhou Asian Games Organising Committee has held various activities to celebrate the two-year countdown in September.

A canoeing relay was held on Sept 6 in Hangzhou, host city of the Games, as a "teaser" to the celebration.

Representatives attend the launch ceremony of the International Etiquette Contest for the 19th Asian Games Hangzhou 2022, on Sept 27. CHINA DAILY

Five hundred canoe enthusiasts from all walks of life, led by famous athletes and representatives, set off from the Qiantang River in Hangzhou, and completed the relay through the waters of Qiandao Lake, the Xin’an River and Fuchun River across several counties of the city.

In each section, a team of 19 participants served as leading navigators, symbolizing the aspiration for the Hangzhou Asian Games.

Among them was 11-year-old Shen Xuanhong, who led the way through the Qiandao Lake section.

Despite his young age, he has been canoeing for three years.

"It usually takes me at least an hour and a half to get this far, but this time I finished in less than an hour."

"There were thrilling moments, like encountering big waves and getting hit by another boat, but overall it was pretty good," said Shen, gasping and smiling after completing the 7-kilometer course. Former two-time Olympic canoeing champion Meng Guanliang called on the public to live a green and healthy life during the relay event, adding that such events help more people develop a better understanding of aquatic sports, as well as of the Asian Games as a whole.

In addition to Hangzhou, Zhejiang’s other co-hosting cities of Ningbo, Wenzhou, Jinhua, Shaoxing and Huzhou also staged aquatic sports competitions and other sports-themed activities.

They were accompanied by events held across the province in cities, such as Jiaxing, Quzhou, Zhoushan, Taizhou and Lishui.

As part of the two-year runup to the event, on Sept 12, a garden party kicked off on the Hubin Pedestrian Street around the scenic West Lake in the city.

Plush toys of Feifei, the mascot for the 4th Asian Para Games, were also launched to the market that same day.

In addition, as a hit on the street, Hushang livestreaming space, China’s first outdoor 5G livestreaming studio, was designated as the livestreaming area for the Asian Games’ officially licensed products.

To date, more than 300 licensed products across nine categories have been launched for Hangzhou 2022, most of which were displayed at the garden party.

All official prestige partners of the Hangzhou Asian Games set up themed exhibition areas along the street, such as China Mobile, Alibaba and Hangzhou-based automaker Geely. For example, visitors can experience augmented reality soccer, watch the Asian Games using virtual reality technology, and watch the Asian Games live in HD at the 5G space station set up by China Mobile.

Alibaba Group’s Tmall platform also set up a booth to promote its online running event on Taobao, an online shopping app. Users can record their steps as they go about their daily routine, and for each 5 kilometers they achieve, they can win an Asian Games souvenir.

Furthermore, on Sept 22, HAGOC unveiled the sports pictograms for the Games, and initiated a global appeal for the slogan of the volunteers.

The sports pictograms, covering 40 sports and 59 disciplines, adopted the same design style as the Games’ emblem "Tides Surging", featuring smooth lines and dynamic graphics.

"The idea is derived from a kind of fete in ancient China and I hope more people will come to understand that the Asian Games is not only a competition, but also a gathering and networking event," said Yuan Youmin, designer of the pictograms and an associate professor at the China Academy of Art.

They will be employed in a variety of scenarios, including competitions, venue signs, public relations campaigns, broadcasting and souvenirs.

The HAGOC also started a global appeal for the slogan of the volunteers. Applicants can submit their proposals online, by post or on-site at the HAGOC office over the next five weeks.

Sept 22 also saw the launch ceremony for an Asian Games-themed documentary, which will take four Asian Games-related figures as its four leading characters, including former world badminton champion Li Lingwei, the Beijing Asian Games’ torch designer Bo Feng, Asian Games souvenir collector Wang Xiaowen and Wu Zike, who was the first person in the city to donate funds for the Hangzhou Asian Games.

An art performance is staged during the event. XIAO DA/CHINA DAILY

"SMART HANGZHOU 2022", the first one-stop digital mini-program in Asian Games history, was released on the same day. Available through the Alipay app, it offers information on six aspects of the Games, featuring tickets, food, accommodation, transportation, famous scenic spots and shopping information in Hangzhou and other co-hosting cities. The HAGOC will take full advantage of the city’s strength in the digital economy sector in a bid to hold a smart Asian Games, said Chen Weiqiang, deputy secretary-general of the Games’ organising committee and vice-mayor of Hangzhou.

http://subsites.chinadaily.com.cn/en/2020-09/30/c_542235.htm

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PR Newswire

IBM Enters Esports Arena with Activision Blizzard in New Multi-Year Deal as the Presenting Partner of the Overwatch League Grand Finals

October 9, 2020 TechENT Syndication Leave a comment

IBM to help power interactive and analytical content for the Overwatch League, engaging fans and players through cloud, IBM’s Watson artificial intelligence, and machine learning

ARMONK, New York and IRVINE, California, Oct. 9, 2020 — Today, IBM and the Overwatch League™, the world’s first global esports league with 20 city-based teams, announced its first-of-a-kind multi-year deal to bring IBM’s cloud computing and artificial intelligence (AI) technology to esports. A sponsorship component kicks off at this year’s 2020 Overwatch League Grand Finals, which started Oct. 8 and run through Oct. 10. With the agreement – IBM’s first-ever esports deal – the technology leader becomes the official AI, cloud, and analytics sponsor of the Overwatch League. The deal covers the 2020 Grand Finals and the entirety of the 2021 and 2022 Overwatch League seasons.

IBM and the Overwatch League logos (PRNewsFoto/IBM)

Through the course of the deal, IBM and the Overwatch League plan to leverage IBM’s suite of advanced cloud and AI products. Starting in 2021, IBM and the Overwatch League will be working closely to develop technology solutions leveraging IBM’s expertise in natural language processing and machine learning to improve the league’s rankings system, and utilize IBM’s Watson AI capabilities to create live and in-broadcast predictive analysis, with specific solutions currently under development.

"We’re constantly striving to give fans the ability to more meaningfully engage with the Overwatch League, and teaming up with IBM enables us to do just that," said Brandon Snow, Chief Revenue Officer of Activision Blizzard Esports. "IBM’s cutting-edge AI and machine learning, underpinned by cloud technologies, will help enable us to bring interactive and innovative engagement opportunities to our fans and teams. This is a fantastic benefit to our viewers, and we’re very excited to be announcing it during the biggest event of our season."

"We’re thrilled to bring our world class Cloud platforms and Watson portfolio to one of the leading esports platforms in the world," said Noah Syken, Vice President of Sports & Entertainment Partnerships, IBM. "The solutions we’re partnering to create can help the organizations, players, and fans enjoy an even more immersive, engaging experience. We look forward to working with the Overwatch League, to bring innovative solutions at scale, to broad and relevant audiences."

The sponsorship with the Overwatch League will kick off in 2021 and include new solutions, that plan to be hosted on the IBM Cloud. Those solutions, which are currently under development, will leverage IBM’s suite of analytics tools to process in-match data, adding Watson’s AI capabilities through the use of Watson Machine Learning and the AutoAI functionality within Watson Studio. Additionally, the solutions will find new ways to showcase the wide array of historical statistics that the Overwatch League gets from live play.

The announcement of IBM and the Overwatch League teaming together is IBM’s first foray into the global world of esports and joins an impressive list of sports and entertainment partnerships that IBM technology powers around the world. IBM has been a part of gaming history as a hardware manufacturer, chip creator, and software provider for developers since 1985. Over the past 35 years, IBM has worked with gaming and esports entities through PowerPC processors, NLP, and cloud technology.

IBM has been a long-time partner to a range of sports organizations, teams, and events, including tennis (US Open and Wimbledon), golf (The Masters), football (via ESPN Fantasy Football), and the GRAMMY Awards. Through IBM’s partnerships, including IBM’s new engagement with the Overwatch League, IBM is able to reimagine sports, and entertainment experiences for fans, players and coaches alike, leveraging the flexibility of the hybrid cloud, and other AI-powered solutions.

About IBM
For more information about IBM, visit ibm.com/news.

About the Overwatch League™
The Overwatch League™ is the first major global professional esports league with city-based teams across Asia, Europe, and North America. Overwatch® was created by globally acclaimed publisher Blizzard Entertainment (a division of Activision Blizzard—Nasdaq: ATVI), whose iconic franchises have helped lay the foundations and push the boundaries of professional esports over the last 15 years. The latest addition to Blizzard’s stable of twenty-two #1 games,* Overwatch was built from the ground up for online competition, with memorable characters and fast-paced action designed for the most engaging gameplay and spectator experiences. To learn more about the Overwatch League, visit www.overwatchleague.com.

About Blizzard Entertainment, Inc.
Best known for blockbuster hits, including World of Warcraft®, Hearthstone®, Overwatch®, the Warcraft®, StarCraft®, and Diablo® franchises, and the multi-franchise Heroes of the Storm®, Blizzard Entertainment, Inc. (https://www.blizzard.com), a division of Activision Blizzard (Nasdaq: ATVI), is a premier developer and publisher of entertainment software renowned for creating some of the industry’s most critically acclaimed games. Blizzard Entertainment’s track record includes twenty-two #1 games* and multiple Game of the Year awards. The company’s online gaming service, Blizzard Battle.net®, is one of the largest online-gaming services in the world, with millions of active players.

*Sales and/or downloads, based on internal company records and reports from key distributors.

About Activision Blizzard Esports
Activision Blizzard Esports (ABE) is responsible for the development, operation, and commercialization of Activision Blizzard’s professional gaming properties including the Overwatch League™, the Call of Duty^® League™, Call of Duty Challengers™, Hearthstone^® Masters, StarCraft^® II esports, Warcraft^® III: Reforged™, and the World of Warcraft^®Arena World Championship and Mythic Dungeon International, among others. ABE also operates Tespa, the leader in collegiate esports. It is ABE’s vision to be the most innovative, scalable, and valuable developer of global competitive entertainment.

Cautionary Note Regarding Forward-looking Statements: Information in this press release that involves the Overwatch League’s expectations, plans, intentions or strategies regarding the future, including statements about the collaboration with IBM, including the development of technology solutions, are forward-looking statements that are not facts and involve a number of risks and uncertainties. Factors that could cause the Overwatch League’s actual future results to differ materially from those expressed in the forward-looking statements set forth in this release include unanticipated product delays, the COVID-19 pandemic and other factors identified in the risk factors sections of Activision Blizzard’s most recent annual report on Form 10-K and any subsequent quarterly reports on Form 10-Q. The forward-looking statements in this release are based upon information available to the Overwatch League and Activision Blizzard as of the date of this release, and neither the Overwatch League nor Activision Blizzard assumes any obligation to update any such forward-looking statements. Forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of the future performance of the Overwatch League or Activision Blizzard and are subject to risks, uncertainties and other factors, some of which are beyond its control and may cause actual results to differ materially from current expectations.

Contacts

IBM
Angelena Abate
Angelena.Abate@IBM.com

Overwatch League
Kevin Scarpati
kscarpati@overwatchleague.com

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PR Newswire

LG SIGNATURE Celebrates the Artistry and Technique of Golf’s Finest in Master Story Series

October 9, 2020 TechENT Syndication Leave a comment

Digital Campaign Puts Spotlight on Unrivalled Mastery of LPGA Stars and Brand Ambassadors, Ko Jin-young and Park Sung-hyun

SEOUL, South Korea, Oct. 9, 2020 — LG SIGNATURE is launching the latest chapter in its Master Story Series, a digital campaign that celebrates the skill, expertise and dedication of the brand’s high-profile ambassadors. This time around, the focus is on two of the world’s premier female golfers, Ko Jin-young and Park Sung-hyun. The artistry and technique that both players bring to the game echoes the seamless fusion of art and technology LG SIGNATURE brings to its exclusive lineup of premium lifestyle solutions.

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LG SIGNATURE Brand Ambassadors, Ko Jin-young and Park Sung-hyun.

LG SIGNATURE Brand Ambassador, Park Sung-hyun has an instantly-recognizable swing that combines power and artistic grace in equal measure.

LG SIGNATURE Brand Ambassador, Ko Jin-young is well-known for her meticulous preparation, and a finely honed ability to tune out all distractions whilst out on the course.

LG SIGNATURE Brand Ambassadors, Ko Jin-young and Park Sung-hyun.

To perform consistently and at the highest level in the sport of golf requires skill, talent and above all, commitment — attributes that Ko and Park possess in spades. LG SIGNATURE leverages these same qualities to produce its peerless products, which are coveted by consumers worldwide for their unparalleled quality, functionality, and style. The ideal ambassadors for LG SIGNATURE, Park and Ko share the brand’s unquenchable desire, and proven ability, to deliver the very best.

Ko Jin-young shares the focus and drive common to all professional golfers, but her style of play is distinctly her own. A huge part of Ko’s success is her meticulous preparation, and a finely honed ability to tune out all distractions whilst out on the course. After picking up her first professional victory at the 2018 ISPS Handa Women’s Australian Open, Ko went on to secure two LPGA majors the very next year: the 2019 ANA Inspiration and the 2019 Evian Championship, the latter of which is sponsored by LG SIGNATURE.

"Every course plays differently and there are so many variables to consider with each putt and each drive, which is why technique and consistency are so crucial," said Ko. "Patience, discipline, and above all, preparation — both physical and mental — are what allow me to repeat my swing and get the results I expect and demand of myself."

Famous for her majestically long drives, Park Sung-hyun has an instantly-recognizable swing that combines power and artistic grace in equal measure. Her distinctive technique generates incredible club head speed, sending the ball soaring far and high with a rhythmic precision that is immensely satisfying to watch. Park made her professional debut in 2017, outperforming more experienced players to capture her first LPGA major title, the 2017 U.S. Women’s Open Golf Championship.

"I like to think of golf as a form of art and I believe that comes across in my style of play," said Park. "Although skill and practice are obviously important to how you perform on the greens and fairways, so is creativity, and that’s where I feel I have an advantage."

Two of golf’s finest, Park and Ko embody the LG SIGNATURE commitment to excellence. The artistry and flawless technique they display at the world’s most prestigious golf courses is an apt metaphor for the beautiful aesthetics and advanced technology so elegantly intertwined in the brand’s immaculate appliances.

"All of our LG SIGNATURE ambassadors are the best in their chosen fields, and we are thrilled to unite with them to showcase what it means to be a master of one’s craft," said Kim Jin-hong, head of LG’s Global Marketing Center. "Reaching consumers around the globe, this digital campaign is a perfect way to communicate our brand philosophy and celebrate the skill and effort it takes to achieve true greatness."

To learn more about the new LG SIGNATURE Master Story Series videos featuring Ko Jin-young and Park Sung-hyun, please visit www.LGSIGNATURE.com.

# # #

About LG SIGNATURE

LG SIGNATURE is the first ultra-premium brand across multiple product categories from global innovator LG Electronics. Catering to the most discerning consumers, LG SIGNATURE is designed to provide a state-of-the-art living experience that feels pure, sophisticated and luxurious. Combining the very best of everything LG has to offer, the distinctive LG SIGNATURE products were designed with their true essence in mind — streamlined to focus on each product’s essential function while maintaining LG SIGNATURE’s modern, signature design. www.LGSIGNATURE.com.

Video – https://cdn5.prnasia.com/202010/LGSIGNATURE/Video_Short.mp4
Video – https://cdn5.prnasia.com/202010/LGSIGNATURE/Video_Full.mp4
Photo – https://photos.prnasia.com/prnh/20201008/2942525-1-a?lang=0
Photo – https://photos.prnasia.com/prnh/20201008/2942525-1-b?lang=0
Photo – https://photos.prnasia.com/prnh/20201008/2942525-1-c?lang=0
Photo – https://photos.prnasia.com/prnh/20201008/2942525-1-d?lang=0

Related Links :

http://www.LGSIGNATURE.com

https://cdn5.prnasia.com/202010/LGSIGNATURE/Video_Full.mp4?_=1

PR Newswire

Hublot announces the Big Bang e UEFA Champions League

October 2, 2020 TechENT Syndication Leave a comment

On the day of the draw for world football’s most prestigious club competition, Hublot announces a limited-edition version of the Big Bang e connected watch

NYON, Switzerland, Oct. 2, 2020 — The UEFA Champions League is back! On the day the draw for the group stage of this season’s competition takes place, Hublot is proud to introduce the Big Bang e UEFA Champions League, and a Hublot Loves Football UEFA Champions League app.

Hublot Big Bang e UEFA Champions League

To stay up-to-date, follow: @Hublot #Hublot

"Because of Covid-19, this has been a very difficult year for everybody, full of disruption. But the start of the UEFA Champions League gives football fans all over the world something to be excited about. Hublot is really proud to be working with UEFA and to be involved in this wonderful competition. We’ve worked hard to create these special watches for fans, and we know they will make the UEFA Champions League experience even more memorable." – Ricardo Guadalupe, CEO of Hublot.

The new watch is based on the Hublot Big Bang e connected watch launched earlier this year, with a number of additional features that enrich the UEFA Champions League fan experience.

The 500-piece limited edition’s lightweight ceramic case and rubber bracelet are both in UEFA Champions League core blue. Owners will have various dials to choose from, downloadable from the Hublot Store. There are blue digital and analogue options, and a special color-dial that can be customised to match one of the participating team’s kit colours.

The watch is powered by Wear OS by Google™ and comes loaded with the new Hublot Loves Football UEFA Champions League app. The user will get notifications to alert them to kick-off times (15 minutes before the game starts), goals, penalty, substitutions, yellow and red cards and time added on. The app will also show team line-ups and VAR decisions, and then when it signals that the game is over, it will also begin a countdown to the next fixture. If there are two games taking place at the same time, users will be able to switch between them with a simple screen tap. The app will be also available to existing owners of the Hublot Big Bang e.

Hublot is the number one luxury company in world football. The company was the first Swiss watch brand and first luxury brand to get involved in football, and the first Swiss watch brand to create a luxury connected football watch for the 2018 FIFA Football World Cup™ in Russia. Since it entered football in 2006, Hublot has timed dozens of domestic, European and international football competitions. This season, Hublot is also the Premier League’s Official Timekeeper for the first time, and next year it will time the UEFA European Championships, which have been rescheduled because of the pandemic, but will still be known as UEFA EURO 2020™.

Video: https://www.youtube.com/watch?v=dELsky_yFjw&feature=youtu.be&ab_channel=HUBLOT

Photo – https://techent.tv/wp-content/uploads/2020/10/hublot-announces-the-big-bang-e-uefa-champions-league.jpg
Logo – https://techent.tv/wp-content/uploads/2020/10/hublot-announces-the-big-bang-e-uefa-champions-league-2.jpg

PR Newswire

Hisense Announces Global Partnership With Fnatic Esports Organization

October 1, 2020 TechENT Syndication Leave a comment

QINGDAO, China, Oct. 1, 2020 — Hisense, the global consumer electronics and home appliances market leader, today announced a multi-year partnership with esports organization, Fnatic. Through this partnership, the two companies will produce a variety of content, including product reviews, video collaborations and social engagement, each featuring Hisense appliances and Fnatic’s prominent teams.

Hisense Announces Global Partnership With Fnatic Esports Organization

"We are thrilled to partner with Fnatic, one of the world’s top esports organizations, in a joint effort to bring a better quality of life to Fnatic and esports fans," said Alex Zhu, the Vice President of Hisense International. "We hope to make Hisense TV and home appliances truly their friend and right hand in life by constantly exploring the needs of fans, so as to allow them to focus on enjoying every moment of esports games. Supported by the unique VIDAA operation system that launched at Hisense TV, we are dedicated to bringing more esports and Fnatic content to our big screens for fans."

Hisense provides reliable smart home appliances including televisions, refrigerators, air conditioners, washing machines, cooking appliances among many others, that meet the demands of modern consumers. As a part of the deal, all Fnatic facilities will be upgraded with Hisense products. Fnatic will also have access to Hisense’s global network of customers, allowing for a wider audience and the potential to build a stronger fan base. This partnership represents another strategic milestone in Fnatic’s continued expansion into China.

"We are proud to partner with Hisense, a forward-thinking, innovative company, that is committed to bringing happiness into the homes of millions of families," said Sam Mathews, Founder and CEO of Fnatic. "As a trusted partner, we are excited to share this collaboration with our fans, players and creators."

About Hisense

Founded in 1969, Hisense is headquartered in Qingdao, China. In the past 51 years, Hisense has always adhered to the core values of "Integrity, Innovation, Customer Focus, and Sustainability". The business covers areas including multimedia, home appliances, IT intelligent information and modern service industries. Hisense has built 54 overseas companies and offices,14 high-end international production facilities, and 17 R&D centers worldwide, with the sole aim of delivering first-rate and affordable products that improve the lives of consumers.

About Fnatic

Fnatic is a global esports entertainment brand headquartered in London, laser-focused on seeking out, levelling up and amplifying gamers and creators. Founded in 2004 by Sam Mathews, Fnatic teams have since claimed more than 200 championships across 30 different games. Driven by entertainment, Fnatic is the channel through which the most forward-thinking brands communicate with young people. It delivers industry-leading content, experiences and activations through offices and facilities in cities between Los Angeles and Tokyo. For more information, visit Fnatic.com.

Photo – https://photos.prnasia.com/prnh/20201001/2934577-1?lang=0

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PR Newswire

Amazfit Band 5 Launched with Blood Oxygen Saturation, 15-day Battery Life[1] at 44.9USD[2] on Sept. 21st, and Amazon Alexa Built-in[3] Coming Soon

September 22, 2020 TechENT Syndication Leave a comment

Can A Band Be Smarter? Check this All-round Band with Varied Health Management and Alexa Built-in.

SHENZHEN, China, Sept. 21, 2020 — Amazfit Band 5, a smart wrist band, launched as the latest offering of Huami to the excellence of Amazfit wearable lineup. Amazfit Band 5 features the very most of the functions what you have as a sports gym band, but also a thorough health management assistant and a smarter wrist band with frequent-used interactions thanks to the upcoming powerful built-in Alexa functions. With an affordable price, Amazfit Band 5 aims to help the public, aged from 18-50 years old or even beyond, to Stay Active and Stay Young in a challenging world nowadays, especially the health conscious and light sportive who seek for better budget.

A Band of Thorough and Science-based Personal Health Management^[4]

The category of wearable band normally was considered as basic device at low price. But Amazfit Band 5 makes the "band" category upgraded, especially the personal health management.

The precise BioTracker™ 2: Although Amazfit is not a medical device but it shipped with the newest generation PPG optical sensor, Huami BioTracker™ 2^nd, providing high-precision 24/7 continuous heart rate measurement with resting heart rate, heart rate zones and high heart rate alert which is the most versatile and precise biosensor ever developed by Huami.
The advanced OxygenBeats^TM enables Amazfit Band 5 for Blood Oxygen Saturation measurement, powered by Huami self-developed oxygen data AI engine. Compared with the results of professional oxygen analyzers, the average error of OxygenBeats^TMis only 1.67%^[5] reflecting accuracy superior to that of most wearable wrist devices for blood oxygen detection. The OxygenBeats^TM is applied to the follow-up visits with recovered COVID-19 patients in China.
The science-backed PAI™ is the Personal Activity Intelligence Assessment System based on the PaiHealth research^[6] from Norway. By a simple activity tracking metric, you can interpret your daily heart rate data into a single and personal score to know how much activity is needed to stay healthy. Backed by science research, that maintaining over 100 PAI is associated with adding up to 5 years^[7] to your life and reducing the risk of cardiovascular disease mortality by an average of 25%^[8]. Try Amazfit Band 5, you will refresh your understanding of what a heart gym is.
Sleep Quality Monitoring can measure your total sleep, light sleep, deep sleep and rapid eye movement (REM) to understand your sleep patterns. Amazfit Band 5 take care of your sleep even during your nap time that of more than 20 minutes in the daytime.
Menstrual Period Tracking help the female keep track of the menstrual periods and ovulation periods, and alert ladies before it arrives.
Stress Monitoring will calculate your stress level through your heart rate variability with 4 levels including relaxed, normal, medium and high.
Breathing Exercise will guide you to a deep breathing session helping you release the stress.

Amazfit Band 5 Launched with Blood Oxygen Saturation, 15-day Battery Life at 44.9USD on Sept. 21st, and Amazon Alexa Built-in

An All-around Band that Everyone Deserves as a Gym and Health Wrist Band

Amazfit Band 5 is currently such an all-round band in the market that brings competitive hardware, software and functions among the wearable bands of the similar price. It ships a 1.1" AMOLED color display with a resolution of 126×294. Even at such a nice price, the screen comes with 2.5D tempered glass and anti-fingerprint coating.

It is light and only weighs 12g without strap. By the Bluetooth 5.0 and power-saving technologies, the 125 mAh battery can keep Amazfit Band 5 working up to 15 days in a typical usage scenario, 25 days in power-saving scenario and standby around 3 months.^[9]

Amazfit Band 5 comes with a skin friendly TPU strap of three colors and supports 11 sports modes including swimming thanks to the 5ATM^[10] waterproof. It offers a large selection of more than 45 watch faces to download from the App, 2 watch faces support editable widgets so users can personalize them, and even add their own personal picture in the background.

Amazfit Band 5 Can be the Smarter One of the Bands

Can a wrist band be smarter?

The answer is positive. Amazfit Band 5 can make life easier and more fun with Amazon Alexa^[11]. With Alexa, you can ask questions, search information, get translations, create shopping lists, set alarms and timers, reminders, check the weather, check notifications, make smart home commands and more. You can talk to Amazfit Band 5, and it responds to users’ voice commands on screen with text responses. For example, just say,

"Alexa set a pasta timer. "
"Alexa add eggs to my shopping lists."
"Alexa turn on the living room lights."
"Alexa who is Barack Obama?"

Alexa lives in the cloud, so it’s always getting smarter, adding new capabilities that are delivered to your device automatically. Using Alexa on Amazfit Band 5 is simple and hands-free – just ask, and Alexa will respond instantly.

IMPORTANT:

Amazfit Band 5 is first on sale from September 21^st via Amazon in US market. Other market will follow from October.
Built-in Alexa capabilities will be enbaled by free OTA updates in the available markets.
Download HQ Images of Amazfit Band 5 here, https://bit.ly/3hbyk6M

About Amazfit

Established in September 2015, Amazfit is a private brand owned by Huami Technology (NYSE: HMI), offering seven series of smartwatch and bracelets products including the Stratos series, Basic series, Flagship series, Health series, Fashion series, Outdoor series, and X series. Amazfit also provide other smart hardware related to sports and health, including TWS sports earbuds, smart treadmills, smart body fat scales and sports gear. With outstanding design and craftsmanship, Amazfit smart watch products have won many prizes, such as the German iF Industrial Design Award and the Red Dot Design Award. Currently, Amazfit products hit the markets of more than 70 countries and regions, including the United States, Germany, and Japan. According to an IDC global wearable device market tracking report, in the first half of 2020, Amazfit watches claimed the largest share of the adult watch market in Italy, Spain, India and other regions, and were also among the top products in regions such as China, Germany, France, Russia, and Brazil.

Find more details about us, https://en.amazfit.com/about.html

Huami Technology, operating since 2013, is a cloud-based healthcare service provider offering the world’s leading smart wearable technologies. In February 2018, Huami Technology was listed on the New York Stock Exchange (NYSE) (stock code: HMI).

Media Contact
press@huami.com

^[1] Battery life test under lab conditions, may vary by usage and conditions
^[2]Retail price may vary on markets.
^[3]The Built-in Alexa of Amazfit Band 5 will be available by OTA upgrade soon if the market is Alexa available. When available, notifications will be appeared via the Zepp APP (formly known as Amazfit APP) and device. The OTA push time may vary by markets.
^[4]This product isn’t a medical device. All data and measurements aren’t intended for medical diagnosis or medical monitoring.
^[5] According to Huami’s AI Innovation Conference Keynote, June, 2020
^[6]The Science of PAI. Researchers used the HUNT Study data to validate PAI. The HUNT Study is one of the largest health studies ever and was performed by the Nobel Prize-winning Faculty of Medicine at the Norwegian University of Science and Technology. It contains a unique database of the personal and family medical histories of more than 45,000 people over 25 years. https://www.paihealth.com/science-of-pai/default.htm
^[7]By applying the PAI algorithm to the HUNT data, researchers found that when individuals consistently exercised at intensities equal to maintaining 100 PAI, it was associated with a reduced risk of cardiovascular disease mortality by an average of 25% and a reduced risk of mortality from other lifestyle-related diseases for men and women of all ages. They also saw that maintaining 100 PAI was associated with an increased life expectancy by an average of 5 years. Quoted from https://www.paihealth.com/science-of-pai/default.htm original link https://cdn.flipsnack.com/widget/v2/widget.html?hash=fd1pf7owi, also see <Personalized Activity Intelligence (PAI) for Prevention of Cardiovascular Disease and Promotion of Physical Activity> https://www.amjmed.com/article/S0002-9343(16)31069-5/abstract
^[8] See above footnotes
^[9]Battery life test under lab conditions, may vary by usage and conditions
^[10] The device passed the test of water resistance level of 5 ATM conducted by third-party institutions.
^[11] Will come by OTA update. US market will come first. Other markets will follow if Alexa is avaible.

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Related Links :

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PR Newswire

As More Seniors Look to Age Independently, TCL Unveils the MOVETIME Family Watch to Help Keep Seniors Connected

September 3, 2020 TechENT Syndication Leave a comment

BERLIN, Sept. 3, 2020 — TCL, one of the world’s best-selling consumer electronics brands and leading technology companies, is introducing the MOVETIME Family Watch MT43A today. This 4G connected watch provides hands-free two way calling, automatic fall detection, heart rate monitoring and medication reminders designed to help seniors maintain their independence.

TCL MOVETIME Family Watch MT43A

According to Pew Research, nearly 20 percent of seniors around the world live alone. While older adults may want to age in their homes and retain their independence, their loved ones may have concerns about their safety or their ability to get around and complete daily activities. The MOVETIME Family Watch MT43A is the perfect solution.

This watch provides automatic fall detection, which notes when the wearer falls and sends an immediate alert (within 60 seconds) to assigned emergency contacts with the individual’s precise location. The wearer can also dismiss the alert if necessary. With an embedded heart rate monitor and sensor, the watch will also keep an eye on heart rate and will alert the wearer to irregular activity, such as an accelerated or slower than average heart rate.

"With the announcement of the MOVETIME Family Watch MT43A, TCL is utilizing modern wearable technologies that can help seniors continue living independent lives while providing peace of mind for their families and caregivers," said Sharon Xiao, GM of the Smart Connected Device Business Group at TCL Communication. "TCL is committed to leveraging its technical expertise for this generation, bringing unique offerings and features that are designed especially for them."

In addition to medical emergencies, the MOVETIME Family Watch MT43A is also designed to improve daily life for older adults. Seniors stay connected by sending voice or text messages and can also share photos or emojis right from their wrist. The watch also offers smooth two-way calling so seniors can check in with loved ones using a simple hands-free request. The MOVETIME Family Watch also has daily activity tracking and sleep monitoring to help the seniors track their activity and calories, while also measuring their sleep duration, cycle and efficiency. These tools provide them with insights that can help improve their lifestyle habits. Seniors can also leverage the watch’s medication or activity reminders, keeping them active while also making sure that they always take their pills on time.

The MOVETIME Family Watch MT43A comes in Dark Gray and Black with a 41 x 48.5mm AMOLED touch display and optimized larger icons, watch face and graphics designed for seniors. The device is IP67 water and dust resistant and it is designed to meet CCPA and GDPR compliance to protect user privacy. The MOVETIME Family Watch MT43A will be available in North America and Europe this fall for €229 EUR.

TCL will share additional details during its virtual press conference at IFA 2020 later today. To learn more about TCL wearables, including the TCL MOVETIME Family Watch, please visit http://www.tclcom.com/wearables/index.html.

About TCL Electronics

TCL Electronics (1070.HK) is one of the world’s fastest-growing consumer electronics companies and one of the world’s leading television and mobile device manufacturers. For nearly 40 years TCL has operated its own manufacturing and R&D centers worldwide, with products sold in more than 160 countries throughout North America, Latin America, Europe, the Middle East, Africa and Asia Pacific. TCL specializes in the research, development and manufacturing of consumer electronics ranging from TVs, mobile phones, audio devices and smart home products as part of the company’s "AI x IoT" strategy. For more information on TCL mobile devices, please visit: http://www.tcl.com/global/en.html.

Related Links :

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PR Newswire

TCL Extends Cooperation with FIBA, Switching on Unlimited Possibilities

September 3, 2020 TechENT Syndication Leave a comment

BERLIN, Sept. 3, 2020 — At the opening of IFA 2020 in Berlin today, during the IFA Global Press Conference themed "Switch on possibility", TCL announced that it will extend its cooperation with the International Basketball Federation (FIBA). Over the next four years, TCL will continue to promote the development of the basketball community as a FIBA Global Partner.

Andreas Zagklis, Secretary General of FIBA, thanked TCL via a video message on the press conference, emphasizing the cooperation with TCL would switch on unlimited possibilities in the future. Mrs. Yuki, Vice President of TCL said, "TCL is honored to enter into this new cooperation with FIBA. In the first stage of our partnership for the last two years, together we experienced the great events such as the FIBA Women’s Basketball World Cup and the FIBA Basketball World Cup. TCL will continue to accelerate our international presence and bring the joy to global audiences."

FIBA announced to extend cooperation with TCL for four more years

TCL chose to extend the partnership with FIBA following their successful cooperation in 2018 and 2019. Covering the period 2020 to 2023, the extended cooperation agreement will cover high-profile events including the FIBA Basketball World Cup (Men), FIBA Women’s Basketball World Cup, FIBA Olympic Qualifying Tournament (Men), FIBA Women’s Olympic Qualification Tournament, FIBA EuroBasket (Men) and FIBA Asia Cup (Men). The countries that qualify for FIBA events are important markets for TCL to build brand awareness, and the extended cooperation agreement will enable TCL to continuously increase its brand presence.

TCL sponsored 2019 FIBA Basketball World Cup

In addition to its cooperation with FIBA, TCL has sponsored basketball, soccer, cricket and horse racing in different continents, partnering with top sports stars to resonate with global communities. By extending its cooperation with FIBA for the next four years, TCL will continue to inspire worldwide consumers with unlimited possibilities through the spirit of basketball and smart technologies.

About TCL

TCL is a multi-national technology brand, founded in 1981.

In 2019, Due to restructuring, TCL was split into two entities, namely TCL Technology Group Corporation and TCL Industrial Holdings. TCL Technology focuses on the semi-conductor display and materials industry, while TCL Industrials focuses on consumer electronics products, including TVs, mobiles, washing machines, refrigerators, air-conditioners, and etc.

TCL Technology and TCL Industrials share the same brand, but not equity related.

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PR Newswire

500.com Limited Announces Unaudited Financial Results For the Second Quarter ended June 30, 2020

August 29, 2020 TechENT Syndication Leave a comment

SHENZHEN, China, Aug. 29, 2020 — 500.com Limited (NYSE: WBAI) ("500.com," "the Company," "we," "us," "our company," or "our"), an online sports lottery service provider in China, today reported its unaudited financial results for the second quarter ended June 30, 2020.

Suspension of Online Sports Lottery Sales in China

All provincial sports lottery administration centers to which the Company provided sports lottery sales services have suspended accepting online purchase orders for lottery products in response to the Notice related to Self-Inspection and Self-Remedy of Unauthorized Online Lottery Sales (the "Self-Inspection Notice"), which was jointly promulgated by the Ministry of Finance, the Ministry of Civil Affairs and the General Administration of Sports of the People’s Republic of China on January 15, 2015. In response to the Self-Inspection Notice, on April 4, 2015, the Company decided to voluntarily suspend all online lottery sales services. As a result of the provincial sport lottery administration centers’ decision to suspend accepting online lottery orders and the Company’s voluntary suspension of all online sports lottery sales services in China, the Company has not generated any revenue from these services since April 2015.

Temporary Suspension of Operations in Sweden

The Multi Group ("TMG"), a Malta-based subsidiary of the Company, has temporarily suspended its operations in Sweden as TMG did not complete the renewal of its e-Gaming license before it expired. The Company promptly issued a Current Report on Form 6-K dated January 13, 2020 regarding this situation, and provided an update through another Current Report on Form 6-K dated February 20, 2020. TMG has submitted all the application materials and is in close communication with Sweden’s e-Gaming regulatory authority to complete the renewal process. The Company’s revenues for the second quarter ended June 30, 2020 have been, and for the fiscal year of 2020 are expected to be, materially and adversely impacted by the temporary suspension of TMG’s operations in Sweden. Revenue generated by TMG accounted for approximately 89.7% of the Company’s total net revenues for the fiscal year ended December 31, 2019, of which approximately 61.3% was generated from Sweden.

Internal Investigation Still in Progress

On December 31, 2019, the Company announced that its Board of Directors (the "Board") had formed a Special Investigation Committee (the "SIC") to internally investigate alleged illegal money transfers and the role played by consultants following the arrest of one consultant (also a former director of the Company’s subsidiary in Japan) and two former consultants by the Tokyo District Public Prosecutors Office. On January 16, 2020, the Company announced that the SIC had retained King & Wood Mallesons LLP ("KWM") as its legal advisor to assist with its internal investigation.

As of today, we understand generally from the SIC that KWM has completed certain investigatory work and the internal investigation is still in progress. The Company currently is unable to determine with certainty what effect (if any) the result of the internal investigation may have on the Company’s financial statements for the fiscal year ended December 31, 2019. In addition, the Company currently cannot conclude the assessment of the effectiveness of its internal control over financial reporting as of December 31, 2019 until the internal investigation is completed.

Annual Report on Form 20-F for the Fiscal Year ended December 31, 2019

The Company previously filed a Form 12b-25 with the SEC on June 15, 2020 for late filing of its Annual Report on Form 20-F for the fiscal year ended December 31, 2019 (the "2019 Annual Report"), pursuant to which the 2019 Annual Report was due to be filed by June 30, 2020. The Company expects to file the 2019 Annual Report (i) upon completion of the previously announced internal investigation being conducted by the SIC of the Company’s Board, with the assistance of KWM, (ii) once the Company’s financial statements for the fiscal year ended December 31, 2019 are finalized, (iii) the Company has completed the assessment of the effectiveness of its internal control over financial reporting as of December 31, 2019, and (iv) Friedman LLP, the Company’s independent registered public accounting firm, has completed its audit of financial statements and internal control over financial reporting as of December 31, 2019.

The Company also reports that on July 1, 2020, the Company received an expected notice from New York Stock Exchange ("NYSE") Regulation stating that the Company is not in compliance with the NYSE’s continued listing requirements under the timely filing criteria pursuant to Section 802.01E of the NYSE Listed Company Manual as a result of the Company’s failure to timely file the 2019 Annual Report with the SEC. As required by the notice, (a) a representative of the Company contacted the NYSE on July 1, 2020 to discuss the status of the 2019 Annual Report, and (b) the Company is issuing this press release, disclosing the status of the 2019 Annual Report, noting the delay and the reason for the delay, as mentioned above. The anticipated filing date of the 2019 Annual Report is not known at this time.

NYSE Regulation notified the Company that the NYSE will closely monitor the status of the Company’s late filing and related public disclosures for up to a six-month period from the due date of the 2019 Annual Report. If the Company fails to file its annual report and any subsequent delayed filings within six months from the filing due date, the NYSE may, in its sole discretion, allow the Company’s securities to trade for up to an additional six months depending on specific circumstances, as outlined in Section 802.01E of the NYSE Listed Company Manual.

The Company intends to meet the filing deadline of six months period from the filing due date of the 2019 Annual Report, or December 31, 2020.

Purchase of the Remaining 7% Equity Interest of TMG

In connection with our acquisition of a 93% equity interest in TMG in 2017, on April 10, 2020, we entered into a definitive agreement with Helmet Limited, or Helmet, which owned the remaining 7% equity interest (post-acquisition) in TMG, to purchase the remaining 7% equity interest for a consideration of EUR1.9 million. We fully paid this consideration on April 20, 2020, and received the remaining 7% equity interest in TMG on the same date. Since April 2020, we have consolidated into our financial statements the financial and operating results of TMG as a wholly-owned subsidiary.

Second Quarter 2020 Highlights

Net revenues were RMB3.6 million (US$0.5 million), compared with net revenues of RMB3.1 million for the first quarter of 2020, and net revenues of RMB9.7 million for the second quarter of 2019.
Operating loss was RMB52.3 million (US$7.4 million), compared with operating loss of RMB36.8 million for the first quarter of 2020, and operating loss of RMB138.3 million for the second quarter of 2019.
Non-GAAP^[1] operating loss was RMB33.7 million (US$4.8 million), compared with non-GAAP operating loss of RMB31.7 million for the first quarter of 2020, and non-GAAP operating loss of RMB60.9 million for the second quarter of 2019.
Net loss attributable to 500.com was RMB86.3 million (US$12.2 million), compared with net loss attributable to 500.com of RMB36.8 million for the first quarter of 2020, and net loss attributable to 500.com of RMB137.8 million for the second quarter of 2019.
Non-GAAP net loss attributable to 500.com was RMB34.0 million (US$4.8 million), compared with non-GAAP net loss attributable to 500.com of RMB35.3 million for the first quarter of 2020, and non-GAAP net loss attributable to 500.com of RMB60.4 million for the second quarter of 2019.
Basic and diluted losses per ADS were RMB2.01 (US$0.28).
Non-GAAP basic and diluted losses per ADS were RMB0.79 (US$0.11).

^[1] Non-GAAP financial measures exclude the impact of share-based compensation expenses, impairment of acquired intangible assets, impairment of goodwill, impairment of long-term investments and deferred tax benefit relating to valuation allowance. Reconciliations of non-GAAP financial measures to U.S. GAAP financial measures are set forth in the table at the end of this release.

Second Quarter 2020 Financial Results

Net Revenues

Net revenues were RMB3.6 million (US$0.5 million) for the second quarter of 2020, representing a decrease of RMB6.1 million or 62.9% from RMB9.7 million for the second quarter of 2019 and a slight increase of RMB0.5 million or 16.1% from RMB3.1 million for the first quarter of 2020. Net revenues during the second quarter of 2020 primarily consisted of RMB3.0 million (EUR0.4 million) in revenue contribution from the Company’s online lottery betting and online casino in Europe through TMG, which accounted for 83.3% of total net revenues. The year-over-year decrease was mainly attributable to a decrease of RMB6.6 million resulting from the temporary suspension of operations in Sweden.

Operating Expenses

Operating expenses were RMB55.1 million (US$7.8 million) for the second quarter of 2020, representing a decrease of RMB37.1 million or 40.2% from RMB92.2 million for the second quarter of 2019, and an increase of RMB11.1 million or 25.2% from RMB44.0 million for the first quarter of 2020. The year-over-year decrease was mainly due to a decrease of RMB10.9 million in expenses for employees as a result of decrease in headcount, a decrease of RMB6.8 million mainly in amortization associated with acquired intangible assets, a decrease in bad debt provision of RMB5.7 million for receivables, a decrease of RMB4.1 million in rental expenses mainly due to the termination of leases for subsidiaries in Hong Kong, Japan and Hangzhou since the local offices were closed, a decrease of RMB2.9 million in travelling expenses, a decrease of RMB2.0 million in consulting expenses, a decrease of RMB1.6 million in share-based compensation expenses associated with share options granted to the Company’s employees, a decrease of RMB2.2 million in platform service costs for TMG associated with its reduction in online lottery and online casino operations, a decrease of RMB1.0 million in lottery insurance costs, and a decrease of RMB0.7 million in account handling expenses. The sequential increase was mainly due to an increase of RMB13.5 million in share-based compensation expenses associated with share options granted to the Company’s employees, which was partially offset by a decrease of RMB1.9 million in consulting expenses and a decrease of RMB1.5 million in expenses for employees.

Cost of services was RMB4.6 million (US$0.7 million) for the second quarter of 2020, representing a decrease of RMB10.4 million or 69.3% from RMB15.0 million for the second quarter of 2019, and a slight increase of RMB0.6 million or 15.0% from RMB4.0 million for the first quarter of 2020. The year-over-year decrease was mainly attributable to a decrease of RMB6.8 million mainly in amortization associated with acquired intangible assets, a decrease of RMB2.2 million in platform service costs for TMG associated with its reduction in online lottery and online casino operations, a decrease of RMB1.0 million in lottery insurance costs, and a decrease of RMB0.7 million in account handling expenses.

Sales and marketing expenses were RMB5.0 million (US$0.7 million) for the second quarter of 2020, representing a decrease of RMB4.6 million or 47.9% from RMB9.6 million for the second quarter of 2019, and an increase of RMB2.0 million or 66.7% from RMB3.0 million for the first quarter of 2020. The year-over-year decrease was mainly attributable to a decrease of RMB3.3 million in expenses for employees and a decrease of RMB0.5 million in travelling expenses. The sequential increase was mainly due to an increase of RMB1.7 million in share-based compensation expenses associated with share options granted to the Company’s employees.

General and administrative expenses were RMB35.4 million (US$5.0 million) for the second quarter of 2020, representing a decrease of RMB20.3 million or 36.4% from RMB55.7 million for the second quarter of 2019, and an increase of RMB5.5 million or 18.4% from RMB29.9 million for the first quarter of 2020. The year-over-year decrease was mainly due to a decrease of RMB6.4 million in expenses for employees, a decrease in bad debt provision of RMB5.7 million for receivables, a decrease of RMB2.8 million in rental expenses, a decrease of RMB2.4 million in share-based compensation expenses associated with share options granted to the Company’s employees, a decrease of RMB2.4 million in travelling expenses, and a decrease of RMB1.8 million in consulting expenses. The sequential increase was mainly due to an increase of RMB8.4 million in share-based compensation expenses associated with share options granted to the Company’s employees, which was partially offset by a decrease of RMB2.0 million in consulting expenses and a decrease of RMB1.1 million in expenses for employees.

Service development expenses were RMB10.1 million (US$1.4 million) for the second quarter of 2020, representing a decrease of RMB1.7 million or 14.4% from RMB11.8 million for the second quarter of 2019, and an increase of RMB3.0 million or 42.3% from RMB7.1 million for the first quarter of 2020. The year-over-year decrease was mainly due to a decrease of RMB1.3 million in rental expenses and a decrease of RMB1.2 million in expenses for employees, which were partially offset by an increase of RMB0.7 million in share-based compensation expenses associated with share options granted to the Company’s employees. The sequential increase was mainly due to an increase of RMB3.4 million in share-based compensation expenses associated with share options granted to the Company’s employees, which was partially offset by a decrease of RMB0.3 million in expenses for employees.

Impairments of Goodwill and Acquired Intangible assets

The impairments of goodwill and acquired intangible assets were related to the Company’s acquisition of TMG, which were triggered by TMG’s temporary suspension of operations in Sweden.

Impairment of goodwill was RMB57.2 million for the second quarter of 2019. There was no additional impairment of goodwill for the first and second quarters of 2020 as the related goodwill and intangible assets were fully impaired as of December 31, 2019.

Operating Loss

Operating loss was RMB52.3 million (US$7.4 million) for the second quarter of 2020, compared with operating loss of RMB138.3 million for the second quarter of 2019, and operating loss of RMB36.8 million for the first quarter of 2020. The year-over-year decrease was mainly due to (i) an impairment provision of RMB57.2 million provided for goodwill during the second quarter of 2019, and there was no such impairment during the second quarter of 2020, and (ii) a decrease of RMB37.1 million in operating expenses due to cost reduction measures implemented by management, which was partially offset by a decrease of RMB6.1 million in revenue. The sequential increase was mainly due to an increase of RMB13.5 million in share-based compensation expenses associated with share options granted to the Company’s employees.

Non-GAAP operating loss was RMB33.7 million (US$4.8 million) for the second quarter of 2020, compared with non-GAAP operating loss of RMB60.9 million for the second quarter of 2019, and non-GAAP operating loss of RMB31.7 million for the first quarter of 2020. The year-over-year decrease was mainly due to a decrease of RMB37.1 million in Non-GAAP operating expenses due to cost reduction measures implemented by management, which was partially offset by a decrease of RMB6.1 million in revenue.

Net Loss Attributable to 500.com

Net loss attributable to 500.com was RMB86.3 million (US$12.2 million) for the second quarter of 2020, compared with net loss attributable to 500.com of RMB137.8 million for the second quarter of 2019, and net loss attributable to 500.com of RMB36.8 million for the first quarter of 2020. The year-over-year decrease was mainly due to (i) an impairment provision of RMB57.2 million provided for goodwill during the second quarter of 2019, there was no such impairment for the second quarter of 2020, and (ii) a decrease of RMB37.1 million in operating expenses due to cost reduction measures implemented by management, which were partially offset by a decrease of RMB6.1 million in revenue and an impairment provision of RMB33.7 million provided for the equity method investment in Loto Interactive Limited ("Loto Interactive", HK: 08198) during the second quarter of 2020, which was calculated based on the last reported sale price on June 30, 2020. The sequential increase was mainly due to (i) an impairment provision of RMB33.7 million provided for long-term investment in Loto Interactive Limited during the second quarter of 2020, and (ii) an increase of RMB13.5 million in share-based compensation expenses associated with share options granted to the Company’s employees.

Non-GAAP net loss attributable to 500.com was RMB34.0 million (US$4.8 million) for the second quarter of 2020, compared with non-GAAP net loss attributable to 500.com of RMB60.4 million for the second quarter of 2019, and non-GAAP net loss attributable to 500.com of RMB35.3 million for the first quarter of 2020. The year-over-year decrease was mainly due to a decrease of RMB37.1 million in Non-GAAP operating expenses due to cost reduction measures implemented by management, which was partially offset by a decrease of RMB6.1 million in revenue.

Cash and Cash Equivalents, Restricted Cash, Time Deposits and Short-term Investments

As of June 30, 2020, the Company had cash and cash equivalents of RMB295.5 million (US$41.8 million), restricted cash^[2] of RMB4.6 million (US$0.7 million), time deposit^[3] of RMB0.2 million and short-term investment^[4] of RMB50.0 million (US$7.1 million), compared with cash and cash equivalents of RMB332.9 million, restricted cash of RMB4.6 million, time deposits of RMB0.2 million and short-term investments of RMB30.0 million as of March 31, 2020.

^[2] Restricted cash represents: (i) government grants received but pending final clearance; and (ii) deposits in merchant banks yet to be withdrawn.

^[3] Time deposit represents deposits in commercial banks with original maturities of greater than three months but less than a year.

^[4] Short-term investment represents investments in structured financial products provided by financial institutions in the PRC with an initial maturity of six months.

Prepayments and Other Current Assets

As of June 30, 2020, the balance of prepayment and other current assets was RMB24.9 million (US$3.5 million), compared with RMB33.4 million as of March 31, 2020. The balance as of June 30, 2020 mainly included: (i) the current portion of deferred expenses of RMB4.1 million (US$0.6 million); (ii) receivables from third party payment providers of RMB1.9 million (US$0.3 million); (iii) deposit receivables of RMB0.5 million (US$0.1 million); (iv) receivables of consideration from disposal of subsidiaries of RMB0.5 million (US$0.1 million); (v) deductible value added input tax of RMB12.2 million (US$1.7 million); and (vi) other receivables of RMB5.7 million (US$0.7 million).

Business Outlook

The Company does not expect to issue any earnings forecast until it receives clear instructions as to the resumption date of online sports lottery sales from the Ministry of Finance.

Currency Convenience Translation

This announcement contains translations of certain Renminbi amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from Renminbi to U.S. dollars were made at the exchange rate of RMB7.0651 to US$1.00, as set forth in the H.10 statistical release of the Federal Reserve Board on June 30, 2020, and all translations from Renminbi to Euros were made at the exchange rate of RMB7.7812 to EUR1.00, which was the average of the month-end exchange rates as set forth in the statistical release of State Administration of Foreign Exchange at the end of each month in 2020.

About 500.com Limited

500.com Limited (NYSE: WBAI) is an online sports lottery service provider in China. The Company offers a comprehensive and integrated suite of online lottery services, information, user tools and virtual community venues to its users. 500.com was among the first companies to provide online lottery services in China, and is one of two entities that have been approved by the Ministry of Finance to provide online lottery sales services on behalf of the China Sports Lottery Administration Center, which is the government authority that is in charge of the issuance and sale of sports lottery products in China.

Safe Harbor Statements

This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "going forward," "outlook" and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

About Non-GAAP Financial Measures

To supplement the Company’s financial results presented in accordance with U.S. GAAP, the Company uses non-GAAP financial measures, which are adjusted from results based on U.S. GAAP to exclude share-based compensation expenses in the Company’s consolidated affiliated entities. Reconciliations of non-GAAP financial measures to U.S. GAAP financial measures are set forth in table at the end of this release, which provide more details on the non-GAAP financial measures.

Non-GAAP financial information is provided as additional information to help investors compare business trends among different reporting periods on a consistent basis and to enhance investors’ overall understanding of the historical and current financial performance of the Company’s continuing operations and prospects for the future. Non-GAAP financial information should not be considered a substitute for or superior to U.S. GAAP results. In addition, calculations of this non-GAAP financial information may be different from calculations used by other companies, and therefore comparability may be limited.

For more information, please contact:

500.com Limited
ir@500wan.com

Christensen

In China
Mr. Eric Yuan
Phone: +86-10-5900-1548
Email: Eyuan@christensenir.com

In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com

500.com Limited Condensed Consolidated Balance Sheets (Amounts in thousands of Renminbi ("RMB") and U.S. dollars ("US$"), except for number of shares)

	December 31, 2019	June 30, 2020	June 30, 2020
	RMB	RMB	US$
	Unaudited	Unaudited	Unaudited

ASSETS
Current assets:
Cash and cash equivalents	361,220	295,505	41,826
Restricted cash	4,576	4,640	657
Time deposits	23,849	200	28
Short-term investments	–	50,000	7,077
Amounts due from related parties	10,401	503	71
Prepayments and other current assets	30,280	24,936	3,529
Total current assets	430,326	375,784	53,188

Non-current assets:
Property and equipment, net	64,112	49,384	6,990
Intangible assets, net	4,505	3,299	467
Deposits	5,388	5,282	748
Long-term investments	152,954	109,495	15,498
Right-of-use assets	36,607	24,161	3,420
Other non-current assets	1,887	1,664	236
Total non-current assets	265,453	193,285	27,359

TOTAL ASSETS	695,779	569,069	80,547


LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accrued payroll and welfare payable	6,879	3,093	438
Accrued expenses and other current liabilities	51,398	53,684	7,599
Income tax payable	2,213	545	77
Operating lease liabilities – current	16,672	16,154	2,286
Total current liabilities	77,162	73,476	10,400

Non-current liabilities:
Long-term payables	2,965	751	106
Deferred tax liabilities	59	–	–
Operating lease liabilities – non-current	31,675	21,747	3,078
Total non-current liabilities	34,699	22,498	3,184

TOTAL LIABILITIES	111,861	95,974	13,584

Redeemable noncontrolling interest	14,849	–	–

Shareholders’ Equity:
Class A ordinary shares, par value US$0.00005 per share, 700,000,000 shares authorized as of December 31, 2019 and June 30, 2020; 420,001,792 and 430,014,792 shares issued and outstanding as of December 31, 2019 and June 30, 2020, respectively	145	149	22
Class B ordinary shares, par value US$0.00005 per share; 300,000,000 shares authorized as of December 31, 2019 and June 30, 2020; 10,000,099 and 99 shares issued and outstanding as of December 31, 2019 and June 30, 2020, respectively	6	2	–
Additional paid-in capital	2,547,293	2,571,064	363,910
Treasury shares	(143,780)	(143,780)	(20,351)
Accumulated deficit	(1,960,692)	(2,083,838)	(294,948)
Accumulated other comprehensive income	141,484	143,200	20,269
Total 500.com Limited shareholders’ equity	584,456	486,797	68,902
Noncontrolling interests	(15,387)	(13,702)	(1,939)
Total shareholders’ equity	569,069	473,095	66,963

TOTAL LIABILITIES, NONCONTROLLING INTEREST AND SHAREHOLDERS’ EQUITY	695,779	569,069	80,547

500.com Limited Condensed Consolidated Statements of Comprehensive Loss (Amounts in thousands of Renminbi ("RMB") and U.S. dollars ("US$"), except for number of shares, per share (or ADS) data)

	Three Months Ended					Six Months Ended
		June 30, 2019	March 31, 2020	June 30, 2020	June 30, 2020	June 30, 2019	June 30, 2020	June 30, 2020
		RMB	RMB	RMB	US$	RMB	RMB	US$
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited
Net Revenues		9,705	3,064	3,648	516	21,340	6,712	950

Operating costs and expenses:
Cost of services		(15,032)	(3,984)	(4,616)	(653)	(31,100)	(8,600)	(1,217)
Sales and marketing expenses		(9,567)	(3,042)	(4,998)	(707)	(24,332)	(8,040)	(1,138)
General and administrative expenses		(55,738)	(29,876)	(35,373)	(5,007)	(121,417)	(65,249)	(9,235)
Service development expenses		(11,825)	(7,146)	(10,070)	(1,425)	(25,612)	(17,216)	(2,437)
Total operating expenses		(92,162)	(44,048)	(55,057)	(7,792)	(202,461)	(99,105)	(14,027)
Other operating income		952	4,091	453	64	4,715	4,544	643
Government grant		377	169	172	24	3,022	341	48
Other operating income (expenses)		40	(53)	(1,553)	(220)	(6,720)	(1,606)	(227)
Impairment of goodwill		(57,218)	–	–	–	(57,218)	–	–
Operating loss from continuing operations		(138,306)	(36,777)	(52,337)	(7,408)	(237,322)	(89,114)	(12,613)
Other income (expenses), net		1	(375)	1,116	158	389	741	105
Interest income		3,427	2,391	2,554	361	7,117	4,945	700
Loss from equity method investments		(6,568)	(5,211)	(2,769)	(392)	(6,911)	(7,980)	(1,129)
Impairment of long-term investments		–	–	(33,706)	(4,771)	–	(33,706)	(4,771)
Loss before income tax		(141,446)	(39,972)	(85,142)	(12,052)	(236,727)	(125,114)	(17,708)
Income tax benefit		342	3,593	60	8	440	3,653	517
Net loss from continuing operations		(141,104)	(36,379)	(85,082)	(12,044)	(236,287)	(121,461)	(17,191)
Net loss		(141,104)	(36,379)	(85,082)	(12,044)	(236,287)	(121,461)	(17,191)
Less: Net (loss) income attributable to noncontrolling interest and Redeemable noncontrollling interest from continuing operations		(3,306)	449	1,236	175	(3,554)	1,685	238
Net (loss) income attributable to noncontrolling interests		(3,306)	449	1,236	175	(3,554)	1,685	238
Net loss attributable to 500.com Limited		(137,798)	(36,828)	(86,318)	(12,219)	(232,733)	(123,146)	(17,429)
Other comprehensive income (loss)
Changes in unrealized (loss) gain		–	(2,409)	436	62	–	(1,973)	(279)
Foreign currency translation gain (loss)		7,835	4,104	(415)	(59)	(1,010)	3,689	522
Other comprehensive income (loss), net of tax		7,835	1,695	21	3	(1,010)	1,716	243
Comprehensive loss		(133,269)	(34,684)	(85,061)	(12,041)	(237,297)	(119,745)	(16,948)
Less: Comprehensive (loss) income attributable to noncontrolling interests and Redeemable noncontrolling interest		(3,306)	449	1,236	175	(3,554)	1,685	238
Comprehensive loss attributable to 500.com Limited		(129,963)	(35,133)	(86,297)	(12,216)	(233,743)	(121,430)	(17,186)

Weighted average number of Class A and Class B ordinary shares outstanding:
Basic		428,561,237	430,002,155	430,009,704	430,009,704	427,202,484	430,005,930	430,005,930
Diluted		428,561,237	430,002,155	430,009,704	430,009,704	427,202,484	430,005,930	430,005,930

Losses per share attributable to 500.com Limited-Basic and Diluted
Net loss		(0.32)	(0.09)	(0.20)	(0.03)	(0.54)	(0.29)	(0.04)

*Losses per ADS attributable to 500.com Limited-Basic and Diluted**
Net loss		(3.22)	(0.86)	(2.01)	(0.28)	(5.45)	(2.86)	(0.41)

* American Depositary Shares, which are traded on the NYSE. Each ADS represents ten Class A ordinary shares of the Company.


Numerator adjustment for net loss attributable to 500.com Limited

500.com Limited Reconciliation of non-GAAP results of operations measures to the nearest comparable GAAP measures (Amounts in thousands of Renminbi ("RMB") and U.S. dollars ("US$"), except for number of shares, per share (or ADS) data)

	Three Months Ended				Six Months Ended
	June 30, 2019	March 31, 2020	June 30, 2020	June 30, 2020	June 30, 2019	June 30, 2020	June 30, 2020
	RMB	RMB	RMB	US$	RMB	RMB	US$
	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited
Operating loss from continuing operations	(138,306)	(36,777)	(52,337)	(7,408)	(237,322)	(89,114)	(12,613)
Adjustment for share-based compensation expenses	20,203	5,103	18,649	2,640	48,919	23,752	3,362
Adjustment for impairment of goodwill	57,218	–	–	–	57,218	–	–
Adjusted operating loss from continuing operations (non-GAAP)	(60,885)	(31,674)	(33,688)	(4,768)	(131,185)	(65,362)	(9,251)

Net loss attributable to 500.com Limited	(137,798)	(36,828)	(86,318)	(12,219)	(232,733)	(123,146)	(17,429)
Adjustment for share-based compensation expenses	20,203	5,103	18,649	2,640	48,919	23,752	3,362
Adjustment for impairment of goodwill	57,218	–	–	–	57,218	–	–
Adjustment for Impairment of long-term investments	–	–	33,706	4,771	–	33,706	4,771
Adjustment for deferred tax benefit relating to valuation allowance	–	(3,599)	(60)	(8)	–	(3,659)	(518)
Adjusted net loss attributable to 500.com Limited (non-GAAP)	(60,377)	(35,324)	(34,023)	(4,816)	(126,596)	(69,347)	(9,814)

Weighted average number of Class A and Class B ordinary shares outstanding:
Basic	428,561,237	430,002,155	430,009,704	430,009,704	427,202,484	430,005,930	430,005,930
Diluted	428,561,237	430,002,155	430,009,704	430,009,704	427,202,484	430,005,930	430,005,930

Losses per share attributable to 500.com Limited (non-GAAP)-Basic and diluted
Net loss (non-GAAP)	(0.14)	(0.08)	(0.08)	(0.01)	(0.30)	(0.16)	(0.02)

*Losses per ADS attributable to 500.com Limited (non-GAAP)-Basic and diluted**
Net loss (non-GAAP)	(1.41)	(0.82)	(0.79)	(0.11)	(2.96)	(1.61)	(0.23)

* American Depositary Shares, which are traded on the NYSE. Each ADS represents ten Class A ordinary shares of the Company.


Numerator adjustment for net loss attributable to 500.com Limited

Related Links :

http://ir.500.com/

PR Newswire

500.com Limited to Report Second Quarter 2020 Financial Results on August 28, 2020

August 20, 2020 TechENT Syndication Leave a comment

SHENZHEN, China, Aug. 20, 2020 — 500.com Limited (NYSE: WBAI) ("500.com" or the "Company"), an online sports lottery service provider in China, today announced that it plans to release its financial results for the second quarter ended June 30, 2020 after the close of U.S. markets on Friday, August 28, 2020.

About 500.com Limited

Safe Harbor Statements

For more information, please contact:

500.com Limited
ir@500wan.com

Christensen

In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: carnell@christensenir.com

In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com

Related Links :

http://ir.500.com/

techENT

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500.com Limited to Report Second Quarter 2020 Financial Results on August 28, 2020

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