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PR Newswire

HotForex Offers Clients and Partners the Ultimate Performance Reward

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Award winning broker of choice HotForex is celebrating its 10 years anniversary by offering all of its loyal clients and Partners generous withdrawable rewards every month from a prize pool of $2,000,000

PORT LOUIS, Mauritius, May 5, 2020 /PRNewswire/ — HotForex, the award-winning forex and commodities broker on CFDs, was founded in 2010 and is celebrating its ten years anniversary by offering both clients and Partners the chance to earn withdrawable monthly rewards funded directly to their accounts.

A HotForex spokesperson said: “We always keep our loyal clients and partners at the heart of everything we do to ensure we provide the best possible trading experience.  These new reward programs are an exciting part of our 10 years anniversary celebrations, and we hope each one of our valued clients and Partners will enjoy the opportunity to earn their part of the $2,000,000 available!”

From now until the end of 2020, the Return on Free Margin promotion will provide monthly withdrawable returns on investment to clients, while the HF Partners 10 Years Anniversary Bonus offers Partners a withdrawable bonus of up to $3,000 every month.

Find out more about these exclusive offers here.

Notes to Media:

About HotForex 

With its origins dating back to 2010, HotForex is the brand name of HF Markets Group which encompasses global and regulated entities which are operating as multi-asset brokers offering both retail and institutional trading services to clients from around the world. HotForex is continuously establishing its position as a market leader, a fact affirmed by:

  • Over 2,000,000 Live Accounts Opened
  • More than 35 International Awards
  • Client Support in 27+ Languages
  • Top Fund Security Measures

To learn more about HotForex, please visit our website by clicking here.

Risk warnings:

Trading Leveraged Products such as Forex and Derivatives may not be suitable for all investors as they carry a high degree of risk to your capital.

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PR Newswire

Cyient Appoints Felice Gray-Kemp as Global General Counsel

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Felice comes with more than two decades of rich experience in global commercial law and will manage all aspects of corporate governance for the company

HYDERABAD, India, May 5, 2020 /PRNewswire/ — Cyient, a leading provider of technology services and solutions, today announced the appointment of Felice Gray-Kemp to the newly created role of Senior Vice President and Global General Counsel. She will play an instrumental role in providing legal and strategic guidance on significant corporate transactions and oversee corporate governance, compliance, and employee matters. 

Cyient_Felice_Gray_Kemp
Cyient_Felice_Gray_Kemp

Felice comes with more than twenty years of rich and diverse experience in global commercial law. She is an expert in customer contracts, including intellectual property, employer agreements, compliance, and regulatory issues.

Before joining Cyient, Felice was Chief Legal Officer and Chief Administrative Officer at Unicorns LLC, a firm she founded to support start-ups and private equity-owned businesses. She has also held global leadership positions at multinational companies such as United Technologies Corporation (now Raytheon Technologies), Honeywell International, and LEGO. 

Felice holds a Juris Doctor degree from the University of Connecticut School of Law and a graduate degree in taxation from Boston University School of Law. She completed her bachelor’s degree in English at Yale University. Throughout her career, she has received recognition as a legal and Diversity, Equity, and Inclusion (DE&I) thought leader as well as for service to the state of Connecticut. In 2017, she was honored by the Urban League of Southern Connecticut with the Woman of Power Award.  The Connecticut Governor appointed Felice to the Board of Regents for Higher Education.

Speaking on the appointment, Krishna Bodanapu, Managing Director and CEO, Cyient said, “I am very excited to welcome Felice to Cyient. Her legal expertise, strategic acumen, and international business experience will play an essential role in helping us continue to manage our operations at the highest functional and ethical standards.”

About Cyient:

Cyient (Estd: 1991, NSE: CYIENT) is a global engineering and technology solutions company.  As a Design, Build, and Maintain partner for leading organizations worldwide, Cyient takes solution ownership across the value chain to help customers focus on their core, innovate, and stay ahead of the curve. The company leverages digital technologies, advanced analytics capabilities, and its domain knowledge and technical expertise, to solve complex business problems.

With over 15,000 employees globally, Cyient partners with customers to operate as part of their extended team in ways that best suit their organization’s culture and requirements. Cyient’s industry focus includes aerospace and defense, healthcare, telecommunications, rail transportation, semiconductor, geospatial, industrial, and energy.

For more information, please visit www.cyient.com.

Follow news about the company at @Cyient.

Media Relations

Perfect Relations 
 Vishal Thapa
Mobile: +91 9701834446
Email: vthapa@perfectrelations.com 

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PR Newswire

Matterport Brings 3D Capture To The iPhone

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Company’s patented 3D technology enables users to capture and share 3D spaces for the first time using their iPhone

SUNNYVALE, California, May 4, 2020 /PRNewswire/ — Matterport, the industry leader in 3D capture and spatial data, today released Matterport for iPhone, a breakthrough way to create, edit, and share high fidelity 3D digital twins of any physical space. With the Matterport Capture app, iPhone owners now have a fast and easy way to capture a 3D environment; personalize it with embedded notes, links, labels or videos; and share it with a simple click. Visitors can explore the spaces in immersive 3D that is just like being there in person. They can even digitally measure walls, doors, windows or furniture. iPads are also supported by the Matterport Capture app, available today in the Apple App Store.

“With billions of square feet captured in more than 80 countries, Matterport has created the standard for 3D capture to digitize the built world. Today marks our first step to empower billions of smartphone users to try Matterport for themselves,” RJ Pittman, CEO of Matterport, stated. “Matterport for iPhone introduces the world to our advanced spatial data capture and Cortex AI technologies in an easy-to-use app that enables anyone to capture and share 3D spaces with friends, family or colleagues.”

Once downloaded, the Matterport Capture app can be used immediately in a number of powerful ways:

  • Real estate agents can scan a property almost as easily as taking photos with their iPhone, to create and publish an accurate 3D digital twin of a property listing
  • Homeowners can share a digital twin of their kitchen to get a quote for a remodel or scan damage to send to their insurance company for a more accurate estimate for repair.
  • iPhone users can freely share their digital twins with friends and colleagues, along with prospective tenants, owners, and more.
  • Interior designers can capture a space and take it with them to make sure furnishings fit.
  • Contractors can efficiently document stages of progression during the construction or renovation process.
  • Property owners can create an immersive virtual tour of their spaces to improve their booking rate on rental sites.
  • Businesses can easily capture a 3D digital twin of their office to help with recruiting, hiring, wayfinding, space planning and building company culture.
  • And anyone can capture and share places that are important to them — whether it’s a special room in their home, a favorite spot they frequent, or an incredible space they experienced on vacation.

“We have been hard at work advancing the capability of the Matterport platform to support 3D capture from a range of new digital capture devices over the past two years. Matterport for iPhone marks an important milestone in our capability to create stunning 3D digital twins of any space using the phone in your pocket,” said Japjit Tulsi, CTO of Matterport.

Matterport for iPhone is powered by Cortex, the company’s AI platform and patented deep learning neural network. It analyzes 3D spatial data captured from Matterport’s flagship Pro2 camera and a wide variety of third party devices including Lidar cameras, 360 cameras, and now smartphones. With millions of spaces captured, Cortex consistently and accurately creates the 3D digital twin and handles complex tasks — from 2D to 3D reconstruction, advanced image processing, automatic color correction, object and room labeling, and more. Cortex can even generate professional looking photo galleries and shareable videos from within the digital twin, along with measurements and dimensions of entire spaces; and automatic face blurring for privacy.

For more information about Matterport for iPhone, visit https://www.matterport.com.

About Matterport

Matterport is the industry leader in 3D capture and spatial data with a mission to digitize and index the built world, and advance the way people interact with the places they inhabit and explore. Matterport’s all-in-one 3D data platform enables anyone to turn a physical space into an immersive digital twin and share it with others to connect and collaborate in 3D. In less than a decade, customers such as Redfin, HH Angus, Sotheby’s, Arup and Marriott, have captured billions of square feet of space in over 80 countries.

Learn more at matterport.com, browse a gallery of digital twins, or explore a curated global collection of 3D spaces at Destination : Everywhere.

Follow Matterport on Facebook, Twitter, LinkedIn and Instagram.

All trademarks and product names are the property of their respective companies.

Matterport Media Contact
Nikki Dance
FortyThree for Matterport
Matterport@43pr.com 
831.401.3175

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PR Newswire

WorkBoard Enables Users of Any Skill Level to Dynamically Create OKR Dashboards and Business Reviews

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REDWOOD CITY, California, May 4, 2020 /PRNewswire/ — WorkBoard, the leader in Enterprise Strategy and Results Management, today announced new capabilities within its Objectives and Key Results (OKRs) software that allow users with no technical skills to dynamically create and share their own OKR and business management dashboards. WorkBoard users can instantly set, organize and share their own dashboards using a variety of automated charting options for objectives and key results along with images and data from other systems.

Drive strategic priorities faster with WorkBoard.
Drive strategic priorities faster with WorkBoard.

The new capabilities give dashboard creators the ability to section their dashboards by topic or function, select key results and chart type to create charts and comparisons and add narratives and imagery to publish an all-new, purpose-specific dashboard in minutes. Today’s update further enables organizations to drive alignment and accountability in faster, more digital ways at a time when focus, transparency and efficiency are crucial.

“In large enterprises, business and operations reviews consume tens of thousands of hours every quarter as people at multiple levels of the organization generate and then meet on 50- and 100-page slide decks to review business progress. Each group needs to present its results with context and narrative, but it’s an extraordinarily slow and labor-intensive way to manage the business,” said WorkBoard CEO and co-founder Deidre Paknad. “If you use OKRs to align and measure outcomes, your OKR platform should automate management and accountability reporting. These new Biz Review features give customers full flexibility and automation to organize, narrate and publish their plans and progress digitally — saving them thousands of hours each quarter while giving stakeholders contextual results visibility on demand.”

WorkBoard’s new update automatically and easily enables users to:

  • Combine any OKRs and KRs from across the org in a view.
  • Compare and contrast KRs from disparate objectives in a variety of charts and graphs.
  • Chart, graph and group KRs in any combination for their own contextual view.
  • Incorporate operating data from other sources and interact with it dynamically.
  • Share editing and viewing permissions selectively or broadly.
  • Use presentation mode for meetings and shared screens.
  • Bring select operating data from disparate systems into context in one source of truth.
  • Access a single source of truth, so they can formulate their own conclusions, instead of checking several disparate sources.

Executives and chiefs of staffs can use these new features to:

  • Eliminate the need to gather data and prepare slides for business reviews. For a monthly business review, the run-up to meeting readiness typically takes weeks, and this capability gives execs continuous access to the facts in context, says Andrew Kisslo, Chief of Staff for Microsoft Azure marketing.
  • Organize staff and board meeting content without re-creating any data.

Function leaders can use these new features to:

  • Provide peer executives and their staffs with a context-rich picture of progress to key results and incorporate relevant operating data from systems that peer orgs don’t otherwise see.
  • Automate status reporting and ops reviews to focus time on issues and risks rather than data gathering and presentation.
  • Publish analyses and insights for their key results so people have the data and what that data tells the team.

Teams can use these new features to:

  • Publish a narrative around their OKRs.
  • Highlight team decisions and points from huddles side-by-side with their OKRs.
  • Incorporate visual artifacts from their work product to showcase them within and across teams.

These new updates and features make it much easier to operationalize OKRs and bring them into the operating rhythm of the business, further establishing WorkBoard as the enterprise standard for OKR software. WorkBoard’s platform, complemented by its OKR coaching program, empowers customers, including industry leaders and innovators such as Comcast, Workday, Microsoft, Cision, Cisco and others to keep teams productive without proximity and drive business resilience and results.

About OKRs:
OKRs are a technique for aligning objectives, defining desired results, and measuring progress in shorter, focused intervals. They are typically set for teams, unifying team members around common intentions with clear metrics for success, enabling cross-team alignment and connecting team outcomes to company outcomes. Made popular by startups, large enterprises began adopting them to respond to dynamic markets, close strategy alignment gaps, and engage more of their organization in strategy execution. Platform-enabled OKRs have now become essential to business resilience by enabling organizations to rapidly shift strategic priorities; giving all employees the ability to see company, function and group strategic priorities on demand; and quickly mobilizing and digitally connecting a distributed workforce to the most important work and outcomes.   

About WorkBoard:
WorkBoard enables Comcast, Cisco, Microsoft, Samsung, Workday, Zuora and other large enterprises to improve business resilience and results with its Enterprise Results Platform. WorkBoard’s SaaS platform enables companies to rapidly shift and align OKRs, gain enterprise-wide transparency on progress to plan, automate meetings and management reporting like QBRs and operating reviews, and connect team output to company outcomes. WorkBoard also pioneered OKR coaching to help companies collapse time to success with the OKR methodology and has certified over 1,500 coaches using its proven playbook. Backed by Andreessen Horowitz, GGV Capital, Workday Ventures and Microsoft’s M12, and based in Redwood City, Calif., WorkBoard is the enterprise standard for results management. For more information, visit www.workboard.com or follow the company on Twitter: @WorkboardInc.

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PR Newswire

Ex-Blue Yonder Veteran Amit Bagga, Appointed Chief Revenue Officer at FarEye

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– Amit Bagga’s appointment comes as FarEye undertakes aggressive plans for global expansion

– Bagga has helmed significant Executive positions at Blue Yonder (JDA) and Oracle to drive profitable growth across the Asia Pacific region

NEW DELHI, May 4, 2020 /PRNewswire/ —  FarEye, a leading SaaS platform for predictive visibility and last mile optimization today announced the appointment of Amit Bagga, a seasoned leader with a track record of driving transformative growth across geographies, as its Chief Revenue Officer (CRO). The announcement comes as the company gears up for the next level of growth and plans to expand aggressively in the Americas, Europe and Asia Pacific after its recent announcement of a successful funding round.

Amit Bagga, CRO, FarEye
Amit Bagga, CRO, FarEye

Bagga joins FarEye’s leadership team and will drive one of the most critical functions in a tech-first company like FarEye. In his role, Bagga will focus on leveraging key revenue opportunities across sales and operations, enhanced customer experience, marketing, and partner strategy, all of which will help pivot towards a customer-first focus for the company.

Prior to joining FarEye, Bagga has successfully led the growth for Blue Yonder (previously JDA Software) Asia Pacific, Oracle’s On Demand solutions, and held various roles at HP. Under Bagga’s leadership, Blue Yonder captured the key challenges that the supply chain industry faced in APAC and delivered tangible value with the help of artificial intelligence and machine learning solutions. Bagga set a path for profitable growth, helping enable Blue Yonder customers to take the digital transformation journey leveraging modern technologies. He built and led high performance teams and a network of partners in the region to deliver next generation Supply Chain solutions with high focus on the adoption of new technologies to leap-frog the market.

“I am excited to join a company with such a great culture that embraces the diversity of its customers and employees, and is an extremely fast-growing logistics SaaS organization that has redefined predictive visibility for enterprises globally. I look forward to working with the FarEye team, building a sustainable strategy that enables us to leverage the huge opportunity that lies ahead of us, and deliver profitable growth,” says Amit Bagga.

Welcoming him to FarEye, Kushal Nahata, CEO & Co-founder, FarEye, comments, “Amit has a unique understanding of the intersection of technology and business, coupled with immense passion for customer success. He has a proven record of building successful businesses with a deep passion to strategize and define opportunities to maximize revenue. In the midst of an exciting journey, I am confident that Amit will bring in the same vision and expertise at FarEye.”

With this move, FarEye has announced its intention of building upon the explosive growth experienced over the last 3 years, and expanding its field teams to provide customer-centric engagement across key geographies that will deliver scalable growth for the company.

About FarEye:

FarEye is a leading SaaS platform for predictive visibility. It enables brands to orchestrate, track, and optimize their logistics processes. The leading machine-learning based platform is empowering global enterprises to shrink delivery time by up to 27%, increase courier productivity by up to 15%, eliminate risks by up to 57%, and achieve operational excellence.

It is increasing efficiency in movement of goods for both B2B and B2C segments – and helping businesses achieve growth and exceptional customer experience at a reduced cost. FarEye has a strong traction with more than 150 global Retailers, CPG companies and Logistics & Transportation providers including DHL, Amway, Hilti, Walmart and Dominos.

Media Contact for SEA, the US, and Europe:
Komal Puri
Marketing Director, FarEye
+91-9718049526

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PR Newswire

AweSun Enables Remote Support for Mobile Devices with Remote Desktop Solutions

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NEW YORK, May 1, 2020 /PRNewswire/ — AweRay, a leader in remote access and remote support solutions, with its main product, AweSun Remote Desktop, announces remote support for mobile devices has been enabled.

The firm has been committed to providing remote desktop services to users worldwide with remote connectivity needs; its users range from remote workers, technical support, freelancers to digital nomads as well as businesses with remote support demands.

Before expanding support to mobile devices, AweSun has offered remote desktop and remote work solutions to help users when they have to get or offer remote support. It allows its users to remotely access a computer from a local computer or mobile device – anywhere, anytime.

The Free version of AweSun offers a wide variety of features and solutions that covers most remote support demands. All users have full access to its powerful features such as remote desktop, file transfer, screen mirroring, multi-concurrent session, whiteboard, blank screen, session recording, text chatting, synchronized clipping, etc.

For users with more advanced needs, they can also find what they want in AweSun‘s higher plans: Pro and Game subscriptions. AweSun Pro supports remote CMD which enables users to perform operations using commands remotely. Game players may find the Game version a great choice, AweSun Game includes features such as Bluetooth device connection and keyboard customization, enabling users to remotely play a PC game on their mobile devices.

The Pro and Game services are available for a first-purchase discount. AweSun provides an unlimited subscription plan that allows users to choose a monthly subscription. 

AweSun now empowers its users to remotely access their mobile devices. With AweSun mobile device support, users can fix mobile device issues quickly, from their computers, smartphone or tablets. Support requesters just need the AweSun Client app installed on their mobile devices. This is a great solution for users who want to assist their family, friends, or clients with phone setup, app installation, or troubleshooting.

Users can enjoy this advanced feature for free for one year. “Given the current situation when people worldwide are fighting a hard battle, we want our users to feel our care and support,” said Joseph, CEO of AweRay.

AweSun‘s support for mobile devices is introduced with multiple enhancements, such as improved UI and optimized connection speed and stability.

“Everyone at AweRay is dedicated to empowering our users to offer or get remote support anytime, anywhere. Our newly-added remote support for mobile devices is just a small step in our long journey. Just stay tuned for more surprises,” said Joseph.

Explore more AweSun remote desktop and remote work solutions, go to AweRay.com 

Follow AweSun on Facebook: https://www.facebook.com/awesunremote/

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PR Newswire

Gridsum Announces Receipt of Revised Non-Binding Proposal

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BEIJING, May 1, 2020 /PRNewswire/ — Gridsum Holding Inc. (“Gridsum” or the “Company”) (NASDAQ: GSUM), a leading provider of cloud-based big-data analytics and artificial intelligence (“AI”) solutions in China, today announced that its Board of Directors (the “Board”) has received a revised non-binding proposal letter, dated May 1, 2020, from Guosheng Qi, Chairman of the Board and the Chief Executive Officer of the Company, Guofa Yu, a director and the Chief Operating Officer of the Company, their respective affiliated entities, Beta Dynamic Limited, Shenzhen Qianhai Banyan Capital Investment & Management Co., Ltd and Hangzhou Yutao Capital Co., Ltd (collectively, the “Consortium Members”), proposing to acquire all of the outstanding shares of the Company that are not already owned by the Consortium Members in a going private transaction (the “Transaction”) for US$2.00 in cash per American depositary share (each representing one Class B ordinary share of the Company), or US$2.00 in cash per ordinary share. A copy of the revised non-binding proposal letter is attached as Exhibit A to this press release.

The special committee of the Board (the “Special Committee”), formed to consider the original proposal from certain of the Consortium Members and any other alternative transactions, is evaluating the revised proposal with the assistance of its financial and legal advisors. The Board and the Special Committee caution the Company’s shareholders and others considering trading in the Company’s securities that no decision has been made by the Special Committee or the Board with respect to the Company’s response to the revised proposal. There can be no assurance that any definitive offer will be made, that any agreement will be executed, or that this or any other transaction will be approved or consummated.

About Gridsum

Gridsum Holding Inc. (NASDAQ: GSUM) is a leading provider of cloud-based big-data analytics and AI solutions for multinational and domestic enterprises and government agencies in China. Gridsum’s core technology, the Gridsum Big Data Platform and the Gridsum Prophet: Enterprise AI Engine, is built on a distributed computing framework and performs real-time multi-dimensional correlation analysis of both structured and unstructured data. This enables Gridsum’s customers to identify complex relationships within their data and gain new insights that help them make better business decisions. The Company is named “Gridsum” to symbolize the combination of distributed computing (Grid) and analytics (sum). As a digital intelligence pioneer, the Company’s mission is to help enterprises and government organizations in China use data in new and powerful ways to make better informed decisions and be more productive.

Safe Harbor Statement

This announcement contains forward-looking statements. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “may,” “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and assumptions about Gridsum and the non-binding proposal. Further information regarding risks and uncertainties faced by Gridsum is included in Gridsum’s annual report on Form 20-F and other reports filed with, or furnished to, the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and Gridsum undertakes no duty to update such information except as required under applicable law.

Investor Relations

Gridsum
ir@gridsum.com

Christensen

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

In U.S. 
Mr. Tip Fleming 
Phone: +1 917 412 3333 
Email: tfleming@christensenir.com  

Exhibit A

May 1, 2020

The Board of Directors
Gridsum Holding Inc.
South Wing, High Technology Building
No. 229 North 4th Ring Road
Haidian District, Beijing 100083, People’s Republic of China

Dear Sirs:

Reference is made to the non-binding preliminary proposal made by (i) Mr. Guosheng Qi, Mr. Guofa Yu and their respective affiliated entities (collectively, the “Management“), (ii) Beta Dynamic Limited (the “Initial Sponsor“), an affiliate of Hammer Capital Private Investments Limited, on July 15, 2019 (the “Original Proposal“), pursuant to which the Management and the Initial Sponsor proposed to acquire all of the outstanding shares of Gridsum Holding Inc. (the “Company“) that are not already owned by the consortium in a going private transaction (the “Acquisition“).

We very much appreciate the time spent and efforts made by the special committee (the “Special Committee“) of the board of directors of the Company and its advisors so far with respect to the Acquisition.  We are submitting this revised non-binding proposal to reaffirm our interests in the Acquisition that we are interested only in acquiring the outstanding shares that we do not beneficially own. Set forth below are the key terms of our revised proposal:

1. Consortium. The consortium (the “Consortium“) currently consists of the following members (collectively, the “Consortium Members“):

(a)  the Management,
(b)  the Initial Sponsor,
(c)  Shenzhen Qianhai Banyan Capital Investment & Management Co., Ltd, and
(d)  Hangzhou Yutao Capital Co., Ltd (杭州煜韬资产管理合伙企业（有限合伙）).

2. Purchase Price. We would like to revise our offer price (the “Offer Price“) to US$2.00 in cash per American depositary share of the Company (“ADS“, each representing one ordinary share of the Company), or US$2.00 in cash per ordinary share (in each case other than those ADSs or ordinary shares held by the Consortium Members that may be rolled over in connection with the Acquisition). Our decision to revise the Offer Price has been a difficult one to make but is necessitated by the tougher than expected market conditions facing the Company and the Chinese economy. In particular,

(a)   The global financial markets have experienced significant volatility recently, including substantial volatility in equity securities markets, and volatility and tightening of liquidity in credit markets. As a result, the trading price of the Company’s ADS has decreased significantly since the Original Proposal.

(b)   Since the Original Proposal, the Company has experienced weaker than expected financial and operational performance as identified, among others, in the Company’s earnings releases since the Original Proposal. According to the Company’s earnings release for the third quarter of 2019, the Company’s net revenues decreased 25%, to RMB60.1 million (US$8.4 million), from RMB80.5 million in the comparable period of 2018; and the gross profit decreased 32%, to RMB38.8 million (US$5.4 million), from RMB56.8 million in the comparable period of 2018. In addition, the material adverse impact on the Company’s performance and operations caused by the outbreak of COVID-19 is expected to continue throughout 2020. We believe that such deterioration in the Company’s business has had a significant negative impact on the value of the Company.

(c)   The recent statement given by the chairman of the Securities and Exchange Commission and the chairman of the Public Company Accounting Oversight Board warning the disclosure, financial reporting and other risks of Chinese listed companies, as well as the evolving trade tension between the U.S. and China, are expected to lead to lower valuation of the Company by the U.S. stock markets.

3. No Binding Commitment. This letter constitutes only a preliminary indication of our interest, and does not constitute any binding commitment with respect to the Acquisition. A binding commitment will result only from the execution of definitive agreements, and then will be on terms and conditions provided in such documentation.

In closing, we continue to be fully committed to close the Acquisition and believe that the Acquisition provides full value to the Company’s shareholders. We look forward to continuing working with the Special Committee and its advisors.

Should you have any questions regarding this proposal, please do not hesitate to contact us. We look forward to hearing from you.

*  *  *

Sincerely,

Guosheng Qi

/s/ Guosheng Qi                           

Generation Gospel Limited

By:             /s/ Guosheng Qi               
 Name:        Guosheng Qi
Title:           Director

Fairy Sprit Limited

By:             /s/ Guosheng Qi               
 Name:        Guosheng Qi
Title:           Director

Guofa Yu

/s/ Guofa Yu                                        

Garden Enterprises Ltd.

By:             /s/ Guofa Yu                     
 Name:        Guofa Yu
Title:           Director

Beta Dynamic Limited

By:             /s/ CHEUNG Siu Fai       
 Name:        CHEUNG Siu Fai
Title:           Director

Shenzhen Qianhai Banyan Capital Investment & Management Co., Ltd

By:             /s/ Xiangming Qu             
 Name:        Xiangming Qu
Title:           Authorized Signatory

Hangzhou Yutao Capital Co., Ltd

By:             /s/ Zhang Chuanjun          
 Name:        Zhang Chuanjun
Title:           Authorized Signatory

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Source: Gridsum Holding Inc.

PR Newswire

51job, Inc. Schedules First Quarter 2020 Earnings Release and Conference Call on May 7, 2020

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SHANGHAI, May 1, 2020 /PRNewswire/ — 51job, Inc. (Nasdaq: JOBS) (“51job” or the “Company”), a leading provider of integrated human resource services in China, announced today that it will release unaudited financial results for the first quarter ended March 31, 2020 after the market closes on Thursday, May 7, 2020.

The Company’s management will hold a conference call at 9:00 p.m. Eastern Time on May 7, 2020 (9:00 a.m. Beijing / Hong Kong time zone on May 8, 2020) to discuss its first quarter 2020 financial results, operating performance and business outlook. To dial in to the call, please use the following telephone numbers:

US:

+1-888-346-8982

International:

+1-412-902-4272

Hong Kong:

+852-3018-4992

Conference ID:

51job

The call will also be available live and on replay through 51job’s investor relations website, http://ir.51job.com.

About 51job

Founded in 1998, 51job is a leading provider of integrated human resource services in China. With a comprehensive suite of HR solutions, 51job meets the needs of enterprises and job seekers through the entire talent management cycle, from initial recruitment to employee retention and career development. The Company’s main online recruitment platforms (http://www.51job.com, http://www.yingjiesheng.com, http://www.51jingying.com, http://www.lagou.com, and http://www.51mdd.com), as well as mobile applications, connect millions of people with employment opportunities every day. 51job also provides a number of other value-added HR services, including business process outsourcing, training, professional assessment, campus recruitment, executive search and compensation analysis. 51job has a call center in Wuhan and a nationwide network of sales and service locations spanning more than 30 cities across China.

Contact:

Linda Chien
Investor Relations
51job, Inc.
+86-21-6879-6250
ir@51job.com

Cision View original content:http://www.prnewswire.com/news-releases/51job-inc-schedules-first-quarter-2020-earnings-release-and-conference-call-on-may-7-2020-301049916.html

Source: 51job, Inc.

PR Newswire

Intertek Launches Protek – The World’s First Health, Safety and Wellbeing Assurance Programme for People, Workplaces and Public Spaces

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LONDON, May 1, 2020 /PRNewswire/ — 

  • Health, Safety and Wellbeing in the workplace, in public transportation, public spaces and at home is now the number one concern for business leaders, employees and consumers*
  • Given its unrivalled expertise in Total Quality Assurance, operating in 100+ countries, with 1000+ labs and 46,000 Experts, Intertek is uniquely positioned to provide its clients with end-to-end Health, Safety and Wellbeing Assurance to protect their employees and their customers
  • Intertek Protek is the world’s first industry-agnostic, end-to-end Health, Safety and Wellbeing Assurance programme for people, workplaces and public spaces, and includes:
    – State of the art training and certification programmes for employees, reflecting learnings from the current pandemic
    – Audit of hygiene and sanitation processes and systems to ensure spaces, materials and surfaces are safe for employees and customers in the workplace and public spaces
    – Total Assurance for all types of facilities, from hotels, restaurants and retail outlets where consumers will look for visible signs of safety verification at the places in which they stay or pass through, to schools and education sites, transportation hubs and manufacturing plants 

Watch our video here: www.intertek.com/protek

Over the years and as part of its systemic approach to Total Quality Assurance (TQA), Intertek has been researching and developing innovative Health, Safety and Wellbeing solutions for its clients. Covid-19 has magnified the increased focus from all stakeholders on Health, Safety and Wellbeing in workplaces and in public spaces and, given the Company’s industry-leading subject-matter expertise, it is now launching the world’s first end-to-end solution in this category.

As the world adjusts to a ‘new normal’, many in-quarantine traits will become generally accepted standards as consumers and employees fundamentally re-think their approach to everyday health, safety and wellbeing. Whether at work, shopping, eating out or using public transport, people will look to corporations and brands for trust, assurance and peace of mind*

As companies prepare for a return to work, employees are concerned about their health and safety* and as consumers think about returning to visit public spaces, they are now increasingly looking to brands to provide trust and visible reassurance*.

Recent Intertek research shows that people do not feel safe returning to their workplace once restrictions have been lifted with over 70% not wanting to return unless authenticated health and safety practices are in place. Moreover, 91% of respondents agree that their employer should take extra measures to protect employees. Yet just over half (54%) of managers believe that they will struggle to provide an acceptable health and safety standard for employees when they do return to the workplace.

Across the consumer industries landscape, only 24% of respondents feel confident about visiting a bar or restaurant once restrictions are lifted and only 27% feel confident about visiting hotels. 56% do not trust cinema and theatre operators to have sufficient health and safety practices in place to prevent the spread of Covid-19, with this figure rising to 57% for airlines and 59% for public transport. At the same time, 84% of consumers now expect larger companies to contribute more to society and to have a social purpose.

Based on Intertek’s unique, systemic approach to quality assurance, Protek is a comprehensive service offering, providing audits, training and service solutions across People, Systems & Processes, Facilities, Materials & Surfaces and Products. A key part of this innovative new service offering is Protek People Assurance, which will provide an on-demand, e-Learning and certification programme that empowers companies to deliver essential employee training on key health and safety topics.  

Protek provides audits, training and occupational health & safety solutions for companies wishing to provide peace of mind for their employees. Specific learning and certification solutions range from Covid-19 related programmes to modules on how to use face masks, gloves and PPE, and courses on food safety, hygiene, cleaning and prevention of the spread of infection.

The programme provides systemic risk-based quality assurance and verification for all sectors, from food safety and hygiene control services to dedicated audit solutions for the prevention of the spread of infection in all facilities and all sectors. This includes hotels, restaurants and retail outlets where consumers will look for visible safety verification of the places in which they stay or pass through. Protek offers turnkey solutions, from facility health assessment, cleaning and disinfecting process oversight and post-cleaning verification, to compliance reporting and certification across schools and education sites, transportation hubs and manufacturing plants.  

Protek helps businesses obtain independent assurance that they are fulfilling their duty of care and provides their employees and customers with the confidence they need, everywhere, every day. 

With over 46,000 TQA experts in over one hundred countries, Intertek is uniquely placed to give businesses the reassurance of a global solution with unrivalled local knowledge and expertise. No other company has the network, tools and processes to deliver Total Health, Safety and Wellbeing solutions to help people feel safe to return to work, to travel, to eat out and to adjust to the new normal.

André Lacroix, CEO of Intertek, said:

“On behalf of everyone at Intertek, I salute healthcare and frontline workers around the world for their magnificent response to the challenge presented by the global pandemic we are witnessing.  At Intertek, it is our duty to help corporations to ensure the health, safety and wellbeing of their employees in the workplace and their consumers in public spaces.

Indeed, as a purpose-led company, Intertek’s mission is to make the world a better and safer place. Never has our core purpose been more relevant than now. This is the moment where our mission-critical role in society truly comes to life, across all sectors and all business lines as we bring solutions the world needs now, everywhere, every day.

It is clear that health, safety and wellbeing for employees returning to their workplaces through to consumers returning to public spaces – and the public transport used to get there – is now the greatest concern for the entire world.

Building on our leading Quality Assurance expertise across all sectors of the economy globally, Protek offers our clients the world’s first independent Health, Safety and Wellbeing Assurance programme for people, workplaces and public spaces.”

About the Research:

This research was conducted online by an independent research consultant company from 29 – 30 April 2020 with n=2,201 respondents, representative of the UK adult general population (aged 18+ years old). Respondents were weighted in terms of age, gender, location and voting behaviour to reflect the known UK general population.

Intertek is a leading Total Quality Assurance provider to industries worldwide.

Our network of more than 1,000 laboratories and offices and over 46,000 people in more than 100 countries, delivers innovative and bespoke Assurance, Testing, Inspection and Certification solutions for our customers’ operations and supply chains.

Intertek Total Quality Assurance expertise, delivered consistently, with precision, pace and passion, enabling our customers to power ahead safely.

intertek.com

*Intertek research April 2020

Contacts

For further information, please contact:

Denis Moreau, Investor Relations
Telephone: +44 (0) 20-7396-3415   
investor@intertek.com

Jonathon Brill, FTI Consulting
Telephone: +44 (0) 20-3727-1000   
SCintertek@fticonsulting.com  

  

PR Newswire

GigaMedia Announces First-Quarter 2020 Financial Results

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

Comments from Management

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

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

First Quarter Overview

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

Unaudited Consolidated Financial Results

GigaMedia Limited is a diversified provider of digital entertainment services. GigaMedia’s digital entertainment service business FunTown develops and operates a suite of digital entertainments in Taiwan and Hong Kong, with focus on mobile games and casual games. Unaudited consolidated results of GigaMedia are summarized in the table below.

For the First Quarter

GIGAMEDIA 1Q20 UNAUDITED CONSOLIDATED FINANCIAL RESULTS

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

1Q20

4Q19

Change

(%)

1Q20

1Q19

Change

(%)

Revenues

$

1,604

$

1,504

6.6

%

$

1,604

$

1,483

8.2

%

Gross Profit

927

1,025

(9.6)

%

927

738

25.6

%

Loss from Operations

(640)

(399)

NM

(640)

(949)

NM

Net Loss Attributable to GigaMedia

(286)

(271)

NM

(286)

(532)

NM

Loss Per Share Attributable to GigaMedia,
Diluted

(0.03)

(0.02)

NM

(0.03)

(0.05)

NM

EBITDA(A)

(536)

(574)

NM

(536)

(876)

NM

Cash, Cash Equivalents and Restricted Cash

57,311

58,274

(1.7)

%

57,311

58,494

(2.0)

%

NM= Not Meaningful

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

First-Quarter Financial Results

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

Financial Position

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

Business Outlook

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

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

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

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

Use of Non-GAAP Measures

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

About the Numbers in This Release

Quarterly results

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

Q&A

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

About GigaMedia

Headquartered in Taipei, Taiwan, GigaMedia Limited (Singapore registration number: 199905474H) is a diversified provider of digital entertainment services. GigaMedia’s digital entertainment service business develops and operates a suite of digital entertainments in Taiwan and Hong Kong, with focus on browser/mobile games and casual games. More information on GigaMedia can be obtained from www.gigamedia.com.

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

(Tables to follow)

GIGAMEDIA LIMITED

CONSOLIDATED STATEMENTS OF OPERATIONS

Three months ended

3/31/2020

12/31/2019

3/31/2019

unaudited

unaudited

unaudited

USD

USD

USD

Operating revenues

Digital entertainment service revenues

$

1,603,904

$

1,503,848

$

1,483,233

Operating costs

Cost of digital entertainment service revenues

677,194

479,341

744,901

Gross profit

926,710

1,024,507

738,332

Operating expenses

Product development and engineering expenses

328,815

213,241

320,494

Selling and marketing expenses

410,475

427,090

526,003

General and administrative expenses

824,442

571,562

835,987

Impairment losses

—

208,921

—

Other

2,984

2,957

5,214

1,566,716

1,423,771

1,687,698

Loss from operations

(640,006)

(399,264)

(949,366)

Non-operating income (expense)

Interest income

255,719

322,587

381,799

Foreign exchange (loss) gain – net

98,887

(84,774)

(11,402)

Other – net

(298)

(110,020)

46,912

354,308

127,793

417,309

Loss before income taxes

(285,698)

(271,471)

(532,057)

Income tax benefit (expense)

—

—

—

Net loss attributable to shareholders of GigaMedia

$

(285,698)

$

(271,471)

$

(532,057)

Loss per share attributable to GigaMedia

Basic and Diluted:

$

(0.03)

$

(0.02)

$

(0.05)

Weighted average shares outstanding:

Basic

11,052,235

11,052,235

11,052,235

Diluted

11,052,235

11,052,235

11,052,235

GIGAMEDIA LIMITED

CONSOLIDATED BALANCE SHEETS

3/31/2020

12/31/2019

3/31/2019

unaudited

audited

unaudited

USD

USD

USD

Assets

Current assets

Cash and cash equivalents

$

56,777,472

$

57,742,696

$

57,976,503

Accounts receivable – net

355,225

368,445

589,520

Prepaid expenses

276,010

112,243

208,919

Restricted cash

533,436

530,984

517,815

Other receivables

238,396

261

375,192

Other current assets

148,757

138,601

127,377

Total current assets

58,329,296

58,893,230

59,795,326

Property, plant & equipment – net

8,117

—

100,148

Intangible assets – net

17,965

—

32,492

Prepaid licensing and royalty fees

210,530

43,915

383,681

Other assets

285,319

285,071

1,034,278

Total assets

$

58,851,227

$

59,222,216

$

61,345,925

Liabilities and equity

Short-term borrowings

$

—

$

—

$

—

Accounts payable

60,405

64,337

98,921

Accrued compensation

156,948

200,455

134,243

Accrued expenses

1,449,553

1,079,234

1,228,483

Unearned revenue

1,285,399

1,364,749

1,290,792

Other current liabilities

715,877

874,434

177,073

Total current liabilities

3,668,182

3,583,209

2,929,512

Other liabilities

7,337

94,385

779,919

Total liabilities

3,675,519

3,677,594

3,709,431

Total equity

55,175,708

55,544,622

57,636,494

Total liabilities and equity

$

58,851,227

$

59,222,216

$

61,345,925

GIGAMEDIA LIMITED

Reconciliations of Non-GAAP Results of Operations

Three months ended

3/31/2020

12/31/2019

3/31/2019

unaudited

unaudited

unaudited

USD

USD

USD

Reconciliation of Net Income (Loss) to EBITDA

Net loss attributable to GigaMedia

$

(285,698)

$

(271,471)

$

(532,057)

Depreciation

354

10,888

25,388

Amortization

4,657

9,669

12,899

Interest income

(255,719)

(322,587)

(381,799)

Interest expense

—

—

—

Income tax (benefit) expense

—

—

—

EBITDA

$

(536,406)

$

(573,501)

$

(875,569)

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