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PR Newswire

‘Dual circulation’: A crucial step for China’s economic development in new era

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BEIJING, Oct. 30, 2020 — A news report by China.org.cn on the 5th plenary session of the 19th central committee of the CPC and China’s "dual circulation":

 

The fifth plenary session of the 19th Central Committee of the Communist Party of China (CPC) concluded on Oct. 29. The session discussed and adopted the CPC Central Committee’s proposals for the formulation of the 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035. The principal idea of the 14th Five-Year Plan is to foster a new, dual-circulation development architecture with the domestic circulation as the mainstay, and with domestic and international development reinforcing each other.

The world today is undergoing profound changes rarely seen in a century. The global spread of COVID-19 has brought about more uncertainties and destabilizing factors. This has sent the world economy into recession, and caused a further contraction in international trade and investment. Meanwhile, some countries are blaming globalization for such issues as the hollowing out of industries, the widening wealth gap, and increasing political tensions. China is thus facing significant external headwinds.

Since the start of reform and opening-up over four decades ago, China has risen to become the world’s second largest economy. It is currently the largest manufacturer, the largest merchandise trader, and the holder of the largest foreign exchange reserves. It also ranks second in the world for attracting foreign investment and the consumption of goods. Its contribution rate to global economic growth has exceeded 30% for several years in a row. China is marching on its journey to fully build a modern socialist country. However, it still faces unbalanced and inadequate development.

Therefore, China has been working to foster a new, dual-circulation development architecture. This aims to remove the barriers existing in domestic circulation, and further unleash the potential of domestic markets, so as to support a higher level of circulation externally. This is not a short-term response by the country to deal with the epidemic and changes in the international environment. Instead, the move reflects China’s long-term strategic countermeasures under a global perspective, and is a crucial step in China’s economic development during the new era.

With a focus on domestic circulation, the model does not in fact mean complete isolation. On the contrary, it will lead to higher levels of opening-up. The "dual circulation" strategy is not the same as an international circulation in its narrow sense regarding foreign trade, capital, and foreign direct investment. Rather, it covers finance, currency, the flow of people, the spread of technologies, the flow of information and data, climate change, environmental protection, elimination of the wealth gap, the accomplishment of U.N. sustainable development goals, etc. It is a general circulation for industrial, supply and service chains with wider scopes, expanded areas, and higher levels.

The new, dual-circulation development architecture is a roadmap for China’s long-term overall economic development. It will also become an open and inclusive global economic engine which enjoys strong vitality and bright economic prospects.

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

‘Dual circulation’: A crucial step for China’s economic development in new era
http://www.china.org.cn/video/2020-10/30/content_76860335.htm

 

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PR Newswire

Chunghwa Telecom Reports Un-Audited Consolidated Operating Results for the Third Quarter of 2020

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TAIPEI, Oct. 30, 2020 — Chunghwa Telecom Co., Ltd. (TAIEX: 2412, NYSE: CHT) ("Chunghwa" or "the Company") today reported its un-audited operating results for the third quarter of 2020. All figures were prepared in accordance with Taiwan-International Financial Reporting Standards ("T-IFRSs") on a consolidated basis.

(Comparisons throughout the press release, unless otherwise stated, are made with regard to the prior year period.)

Third Quarter 2020 Financial Highlights

  • Total revenue increased by 2.6% to NT$ 52.17 billion.
  • Mobile communications revenue decreased by 8.5% to NT$ 21.63 billion.
  • Internet revenue increased by 1.2% to NT$ 7.46 billion.
  • Domestic fixed communications revenue increased by 20.9% to NT$ 18.85 billion.
  • International fixed communications revenue decreased by 25.5% to NT$ 2.14 billion.
  • Total operating costs and expenses increased by 2.2% to NT$ 41.73 billion.
  • Net income attributable to stockholders of the parent increased by 3.2% to NT$ 8.35 billion.
  • Basic earnings per share (EPS) was NT$1.08.

Mr. Chi-Mau Shieh, Chairman and CEO of Chunghwa Telecom, said, "We achieved solid results in the third quarter of 2020 as a result of our successful business strategy and the hard work of our employees throughout the company."

"We are pleased to announce we maintained our leading market position in the mobile business. With the launch of the iPhone 12 in October, we are optimistic to exceed our annual target for 5G service adoption by the year end. To prepare for the expected high demand, we managed to finish construction of more than 3,000 base stations by the end of the quarter. As we continued to migrate subscribers to higher-speed service, we also experienced an uplift in the ARPU of broadband business. MOD maintained its outstanding market position, and we will continue to enrich the content to attract more subscribers. Our ICT project experienced robust growth with an 84.9% revenue increase year over year, and with the ongoing trend in work and study from home, we continued to see strong demand of IDC services, which has driven us to work on our next business expansion."

"Backed by our clear, strategic focus, strict cost saving measures and strong balance sheet, we remain confident in our ability to achieve healthy and sustainable long-term growth while delivering sustainable value to our shareholders," Mr. Shieh concluded.

Revenue

Chunghwa Telecom’s total revenues for the third quarter of 2020 increased by 2.6% to NT$ 52.17 billion.

Mobile communications revenue for the third quarter of 2020 decreased by 8.5% to NT$ 21.63 billion. This was mainly due to the decrease in handset sales revenue and the decrease in mobile service revenue resulted from market competition, VoIP substitution, as well as the impact of COVID-19 on roaming revenue.

Internet business revenue for the third quarter of 2020 increased by 1.2% to NT$ 7.46 billion.

Domestic fixed revenue for the third quarter of 2020 increased by 20.9% year over year to NT$ 18.85 billion, mainly due to the increase of ICT project revenue driven by the completion of major projects.

International fixed communications revenue decreased by 25.5% to NT$ 2.14 billion.

Operating Costs and Expenses

Total operating costs and expenses for the third quarter of 2020 increased by 2.2% year over year to NT$ 41.73 billion, mainly due to the increase of ICT project costs, which offset the decrease of cost of goods sold and interconnection costs.

Operating Income and Net Income

Income from operations for the third quarter of 2020 increased by 7.1% to NT$ 10.72 billion. The operating margin was 20.6%, as compared to 19.7% in the same period of 2019. Net income attributable to stockholders of the parent increased by 3.2% to NT$ 8.35 billion. Basic earnings per share was NT$1.08.

Cash Flow and EBITDA

Cash flow from operating activities for the third quarter of 2020 increased by 3.9% year over year to NT$ 20.44 billion, mainly due to the increase in the collection of accounts receivable.

Cash and cash equivalents, as of September 30th, 2020, decreased by 26.4% to NT$ 17.71 billion as compared to that as of September 30th, 2019. The decrease was mainly attributable to the payment of concession fees for the 5G frequency spectrum auction, which was partially offset by the increase in short-term bills payable and bonds payable.

EBITDA for the third quarter of 2020 increased by 6.8% to NT$ 20.09 billion. EBITDA margin was 38.51%, as compared to 36.99% in the same period of 2019.

Business and Operational Highlights

Broadband/HiNet

The Company continued to execute its strategy of encouraging FTTx migration. As of September 30th, 2020, the number of FTTx subscribers reached 3.63 million, accounting for 83.1% of the Company’s total broadband users. Moreover, the number of subscribers signing up for speeds of 100Mbps or higher increased by 11.3% year over year, reaching 1.72 million.

HiNet broadband subscribers decreased by 1.5% year over year to 3.60 million as of September 30th, 2020.

Mobile

As of September 30th, 2020, Chunghwa Telecom had 11.27 million mobile subscribers, representing a 6.0% year-over-year increase.

Fixed line

As of September 30th, 2020, the Company maintained its leading position in the fixed-line market, with a total of 9.96 million subscribers. 

Financial Statements

Financial statements and additional operational data can be found on the Company’s website at http://www.cht.com.tw/en/home/cht/investors/financials/quarterly-earnings

NOTE CONCERNING FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and 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" and similar statements. Statements that are not historical facts, including statements about Chunghwa’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Investors are cautioned that actual events and results could differ materially from those statements as a result of a number of factors including, but not limited to the risks outlined in Chunghwa’s filings with the U.S. Securities and Exchange Commission on Forms F-1, F-3, 6-K and 20-F, in each case as amended. The forward-looking statements in this press release reflect the current belief of Chunghwa as of the date of this press release and Chunghwa undertakes no obligation to update these forward-looking statements for events or circumstances that occur subsequent to such date, except as required under applicable law.

This press release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or selling security holder and that will contain detailed information about the company and management, as well as financial statements.

NON-GAAP FINANCIAL MEASURES

To supplement the Company’s consolidated financial statements presented in accordance with International Financial Reporting Standards pursuant to the requirements of the Financial Supervisory Commission, or T-IFRSs, Chunghwa Telecom also provides EBITDA, which is a "non-GAAP financial measure".  EBITDA is defined as consolidated net income (loss) excluding (i) depreciation and amortization, (ii) total net comprehensive financing cost (which is comprised of net interest expense, exchange gain or loss, monetary position gain or loss and other financing costs and derivative transactions), (iii) other income, net, (iv) income tax, (v) (income) loss from discontinued operations.

In managing the Company’s business, Chunghwa Telecom relies on EBITDA as a means of assessing its operating performance because it excludes the effect of (i) depreciation and amortization, which represents a non-cash charge to earnings, (ii) certain financing costs, which are significantly affected by external factors, including interest rates, foreign currency exchange rates and inflation rates, which have little or no bearing on our operating performance, (iii) income tax (iv) other expenses or income not related to the operation of the business. 

CAUTIONS ON USE OF NON-GAAP FINANCIAL MEASURES

In addition to the consolidated financial results prepared under T-IFRSs, Chunghwa Telecom also provide non-GAAP financial measures, including "EBITDA". The Company believes that the non-GAAP financial measures provide investors with another method for assessing its operating results in a manner that is focused on the performance of its ongoing operations.

Chunghwa Telecom’s management believes investors will benefit from greater transparency in referring to these non-GAAP financial measures when assessing the Company’s operating results, as well as when forecasting and analyzing future periods. However, the Company recognizes that:

  • these non-GAAP financial measures are limited in their usefulness and should be considered only as a supplement to the Company’s T-IFRSs financial measures;
  • these non-GAAP financial measures should not be considered in isolation from, or as a substitute for, the Company’s T-IFRSs financial measures;
  • these non-GAAP financial measures should not be considered to be superior to the Company’s T-IFRSs financial measures; and
  • these non-GAAP financial measures were not prepared in accordance with T-IFRSs and investors should not assume that the non-GAAP financial measures presented in this earnings release were prepared under a comprehensive set of rules or principle.   

Further, these non-GAAP financial measures may be unique to Chunghwa Telecom, as they may be different from non-GAAP financial measures used by other companies. As such, this presentation of non-GAAP financial measures may not enhance the comparability of the Company’s results to the results of other companies. Readers are cautioned not to view non-GAAP results as a substitute for results under T-IFRSs, or as being comparable to results reported or forecasted by other companies.

About Chunghwa Telecom

Chunghwa Telecom (TAIEX 2412, NYSE: CHT) ("Chunghwa" or "the Company") is Taiwan’s largest integrated telecommunications services company that provides fixed-line, mobile, broadband, and internet services. The Company also provides information and communication technology services to corporate customers with its big data, information security, cloud computing and IDC capabilities, and is expanding its business into innovative technology services such as IoT, AI, etc. In recent years, Chunghwa has been actively involved in corporate social responsibility and has won domestic and international awards and recognition. For more information, please visit our website at www.cht.com.tw

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PR Newswire

YOFC Shares Vision for Future Optical Industry at the 2020 World Optical Fibre and Cable Virtual Conference

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WUHAN, China, Oct. 29, 2020 — Yangtze Optical Fibre and Cable ("the Company" and "YOFC", 601869.SH, 06869.HK), a global leader in the optical fibre and cable industry, shed light on trends of global fibre and cable markets at the CRU World Optical Fibre & Cable 2020 Virtual Conference which was attended by global industry leaders.

YOFC Shares Vision for Future Optical Industry at the 2020 World Optical Fibre and Cable Virtual Conference
YOFC Shares Vision for Future Optical Industry at the 2020 World Optical Fibre and Cable Virtual Conference

In the keynote address, Dr. Zhuang Dan, Executive Director and President of YOFC, called for global companies to embrace the challenges and opportunities of the industry in the post-pandemic era to speed up the development of all-optical networks. Later at the leadership panel, in which senior executives of the big three of global optical fibre and cable industry gathered together, Dr. Zhuang shared his insights into how the optical communications industry should respond to the pandemic and discussed how the market would move forward in the next 5 years with leaders from Corning Inc. and Prysmian Group.

"Even though the COVID-19 outbreak has brought a significant impact on our daily lives and the global economy, the demand for optical fibres and cables remains stable. However, the industry is still facing an imminent shakeup as the imbalance between the demand and supply has brought down the prices of optical products. In the fight against this pandemic, we have seen a rise in the adaptation of telecommunications that are playing a critical role in stemming the spread of the virus and connecting people and businesses. This has given rise to the drastic surge in internet use for remote working, education and healthcare, placing big demands on new all-optical networks, data centers, as well as the new infrastructures powered by 5G technology and next-gen information networks," said Zhuang Dan.

"In the face of the challenges and opportunities, YOFC has stepped up efforts in pioneering the development of new technologies and products for all-optical networks by focusing on F5G and 5G. To build an Internet of Things services powered by integration of fixed and mobile 5G networks, we continue to provide new solutions for industry partners to facilitate their business innovation and project cooperation, as well as strive to help the industry in accelerating the transition to the all-optical networks in the post-pandemic era," he added.

With the goal of establishing all-optical networks to digitally transform industrial production, business and people’s daily life, YOFC is focusing on building flexible, intelligent, green, all-optical data centers that are applicable for all production and business scenarios. The company also provides full life cycle solutions to meet the demands of various industries for cloud computing in the 5G era.

YOFC is dedicated to empowering the digital transformation of urban rail transit by helping build smart underground transportation systems powered by gigabit internet. Meanwhile, to usher in a new era for electronic communication infrastructures, YOFC has constructed a neural system for the digital grid that has been applied to the UHV transmission projects in China and built a 5G+ all-optical industrial internet to promote intelligent transformation for enterprises. In addition, YOFC has shifted from a manufacturer to a comprehensive solution provider that has built 5G fronthaul networks in cooperation with operators. Riding on the momentum, YOFC strives to drive forward the all-optical industry in the post-pandemic world.

The annual CRU World Optical Fibre and Cable Conference is established as the premier event for senior executives from the global optical fibre and communication cable supply chain. CRU Group, the organizer of the event, is a world-leading business intelligence company that offers market analysis for the optical industry. Its reports are highly regarded within the global telecommunication industry and provide important data and analysis for the upstream and downstream suppliers across the supply chains.

In partnership with CRU, YOFC first brought this global conference to Asia by holding the Asia-Pacific Optical Fibre and Cable Conference in China in 2015. In 2016 and 2017, the World Optical Fibre and Cable Conference was officially introduced to China and Asia through a joint effort of YOFC and CRU and was later transformed into one of the most influential communication platforms in the global optical industry.

In the following two years, YOFC continued playing an important role in upgrading World Optical Fibre and Cable Conference in cooperation with Corning Inc. and Prysmian Group. 2021 will mark the fourth cooperation between YOFC and CRU, demonstrating CRU’s high recognition of YOFC’s leadership in the global optical fibre and cable industry.

Related Links :

http://www.yofc.com

PR Newswire

New Cisco Solutions Elevate Resiliency and Security for Critical Legislative and Judicial Operations

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SAN JOSE, Calif., Oct. 28, 2020 — Cisco Partner Summit Digital —

News Summary:  

  • The Covid-19 pandemic has required local and national government institutions to quickly respond and adapt to deliver important services while governing remotely
  • New cloud solution, Webex Legislate, enables remote and hybrid legislative bodies to convene safely and securely
  • New Connected Justice Solution for Courts, Correctional Facilities and Community Corrections powers secure real-time virtual judicial proceedings anywhere, anytime
  • Expanded Cisco Public Funding Office helps public sector customers tap stimulus funding worldwide

The pandemic has shown that technology is key not only to keeping us securely connected and productive but also to keep essential functions of civic life and democracy moving during disruptions. During the Covid-19 pandemic, local and national government institutions are responding and adapting by pivoting to deliver services and continue the business of governing, remotely.  To support governmental organizations with these business resiliency efforts, Cisco is announcing solutions to enable justice systems and legislative bodies worldwide to continue their critical functions.

The new solutions combine the power of Cisco technology, including Cisco Webex video conferencing, with expertise and innovation from Cisco Customer Experience (CX) and the Cisco partner ecosystem. To speed access to these tools, Cisco’s Public Funding Office has increased capacity to help customers and partners navigate funding sources and accelerate projects that help them serve their communities through the pandemic.

These new solutions bring secure delivery of virtual government services across multiple platforms of previously disparate technology to provide greater efficiencies, reduce cost associated with travel, while keeping the public safer. Prior to Covid-19, many governing bodies were legally required to meet in-person, and the shift to remote has been a new experience for many. Now, according to a new Cisco survey, over 50% of government workers expect to work remotely eight or more days per month. Governing bodies worldwide need to deliver seamless collaboration for their fully remote and hybrid legislative bodies, enabling them to convene safely and securely – while adhering to procedures steeped in law and tradition.

Webex Legislate is a new secure, purpose-built cloud solution that extends Webex’s built-in security and privacy capabilities. The new solution meets the highly specialized requirements of global legislatures, providing a "better than being there" experience to give legislators the same capabilities as on the chamber or parliamentary floor, while attending sessions from their regions and remaining close to the citizens they represent. The new solution provides support for:

  • Legislators, by delivering an integrated experience that provides the video conferencing experience they already know via a new dashboard for all the governing business required in hearings and floor debates and votes. For example, it:
    • Allows legislatures the ability to debate and vote on legislation in accordance with their rules, procedures, and norms via customized voting features
    • Enables secure sidebar rooms that mimic the conversations legislators have in caucus or on the floor. These rooms can be ad hoc or permanent
    • Offers simultaneous interpretation and closed captioning making it easy for legislative sessions to be conducted in multiple languages
  • Moderators, by enabling complete customization so Webex Legislate will allow for the unique rules, procedures, and roles of each legislative body. That means appropriate permissions are given to committee chairs, speakers, legislators, staff, citizens, press and so on. The solution also provides timers, detailed mute controls and more to easily manage orderly proceedings.

Designed to meet legislative security needs, the solution enables:

    • Single sign-on with multifactor authentication
    • Visual and verbal verification with secure lobby admission to verify the identity of voting members
    • Chain of custody for all procedures, including voting
    • Anonymous or customized voting, with detailed statistics by party and voter

Webex Legislate was funded and co-developed by Cisco’s Country Digital Acceleration (CDA) program, in conjunction with Irish systems integrator and Cisco partner, Davra. The Cisco CDA program, which is active in 37 countries around the world, delivers sustainable digital solutions in collaboration with national and local government leaders to address real societal problems. The CDA program provides Cisco partners a unique opportunity to co-develop and co-innovate technology solutions that align with national digital agendas around the world. Webex Legislate is an example of how partners can use the Webex software development kit to develop custom applications on top of Webex to help accelerate their customers cloud adoption.

Additionally, Cisco has achieved Federal Risk and Authorization Management Program (FedRAMP) authority to operate for Webex calling, meeting, and messaging solutions, allowing U.S. federal employees and contractors to experience the work-from-anywhere benefits of cloud collaboration while meeting stringent government requirements. These capabilities will soon be available in a single Webex app, making it easy for users to escalate messages into calls or video conferences, and share content on room video devices. Learn more here.

Cisco’s Connected Justice solution is the first standards-based video solution to deliver comprehensive, connected professional services to courts, correctional facilities and community corrections. Covid-19 made delivering critical services without physical contact essential. Cisco partners Cloverhound and TRACKtech have customized connected solutions for partners to be able to order that align to the three pillars of justice-courts, corrections, and community supervision. This solution enhances collaboration across agencies, maintains daily operations and can help reduce recidivism.

The new solution provides support for:

  • Courtrooms:
    • Brings courtroom participants together via real-time video creating a safe and secure environment
    • Offers the courts the ability to hold virtual hearings with an integrated docket dashboard that identifies a virtual lobby and side rooms, via partner Cloverhound. This brings extra efficiencies and accelerates court activities
    • Support for managing the hybrid court with physical attendees in a court hearing so a judge can see both virtual and in-person participants
  • Correctional Facilities:
    • Provides seamless virtual visitation services via simplified workflow and user experience. New custom designed scheduling software from Cisco CX is built for this specific environment
    • Increases and simplifies remote access to critical services such as court appearances, telehealth services and distance learning
  • Community Corrections:
    • Helps government agencies better reduce recidivism by delivering rehabilitative support and supervision, via a new mobile advanced supervision and integrated case management solution from Cisco partner TRACKtech
    • New mobile solution provides increased caseload efficiency by notifying staff members of incompliance allowing them to spend their time where it is needed most
    • Simplifies delivery of essential support services such as remote check-ins, teletherapy recovery and behavioral health counseling and homeless services
      • For example, using Webex Teams integrated with TRACKtech products, one major US judicial district was able to increase caseload productivity by visiting 3x more clients in a day with virtual home visits
      • In addition, by utilizing Cisco’s video end points with TRACKtech, the judicial district was able to save the equivalent of their entire annual fleet management budget

"The beauty of Cisco’s courtroom technology, using Webex and the underlying secure infrastructure, is that the public now sees virtual courtrooms as a way to keep the wheels of justice turning, not only during Covid-19, but beyond," said Elkhart County Director of Information Technology Matthew Dietz. "For judges is it was easy to use and serves our citizens efficiently—allowing people to take a 15-minute break to attend a hearing instead of spending a half-day in court."

Increased Funding Office Expertise

Government funding to support Covid-19 response efforts is available. This year, Cisco doubled its expert team to help ensure business continuity of government globally by assisting customers to navigate the programs and processes. Cisco experts can help customers navigate the process of securing funding by helping identify potential funding sources for projects. Together the expanded team brings decades of expertise and has supported thousands of customers through this process.

Additional Resources

About Cisco  

Cisco (NASDAQ: CSCO) is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your data, transforming your infrastructure, and empowering your teams for a global and inclusive future. Discover more on The Networkand follow us on Twitter at @Cisco.

Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco’s trademarks can be found at www.cisco.com/go/trademarks. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company.

Contact:
Toni Davis
984-212-0163
tondavis@cisco.com

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PR Newswire

Laying the Foundation for Shenzhen Airport to Become a “Future Airport” with Huawei UPS

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SHENZHEN, China, Oct. 27, 2020 — Shenzhen airport, China’s fifth largest airport and a world-class international aviation hub, has chosen Huawei to work together on the key project of its Future Airport Phase II implementation: the upgrade of its Uninterruptible Power Supply (UPS) system. Such an upgrade provides a solid energy foundation to build a smart future airport from, as well as reconstruct the Information and Communications Technology (ICT) infrastructure platform.

And this momentum is showing no signs of slowing: Indeed, Shenzhen Airport is the only airport in China participating in the International Air Transport Association’s (IATA) "Future Airport" pilot program. To realize the program, a large number of future-oriented upgrade and reconstruction projects are being implemented.

The airport’s legacy UPS was aging badly, leading to increased fault rates. To compound the issue, there was a lack of spare parts because the original equipment had been discontinued. And maintenance work was heavily dependent on the original manufacturer, representing a serious potential risk. In sum, these challenges were impairing Shenzhen Airport’s efforts to build a smart future airport.

With the goal of becoming the benchmark for future airports, Shenzhen Airport set high standards for its UPS replacement and it felt that any new equipment should be leading the industry’s future evolution. It also needed a supplier with extensive experience in cutover assurance, to secure operational processes.

With a modular and multi-redundancy design that eliminates single points of failure and ensures the smooth running of key services, Huawei’s modular UPS has already been tested in the industry. The Artificial Intelligence (AI) proactive warning function of components — such as capacitors and fans — shifts Operations and Maintenance (O&M) from passive to proactive prevention. Furthermore, all modules are hot swappable and can be replaced within five minutes when a fault occurs, further simplifying O&M. Such benefits convinced Shenzhen Airport that Huawei’s UPS solution met their requirements for future airport assurance and chose Huawei’s UPS5000 series for the upgrade.

At 03:00 in the morning on July 18, the Shenzhen Airport and Huawei team completed the online cutover of the second UPS with zero errors, just 13 days after the first successful cutover, and five days earlier than the original plan. This means that there is momentum for the next 24 sets of UPSs to be cutover and put into use. In total, 30 medium and large-sized UPS systems will eventually be deployed in ten power distribution rooms located across the terminal and in the Information Technology Center (ITC).

Huang Biao, General Manager of the Shenzhen Airport Digital Management Center, said: "The successful cutover of the project means that our success is not accidental. With the support of Huawei, the maintenance level of the airport UPS system is raised to a new level. It also proves that if the process of replacing old UPS hosts is highly operable and the solution is correctly formulated, UPS online cutover is feasible and controllable. All team members of the airport are confident about the subsequent cutover and future O&M assurance. Looking into the future, I hope that Huawei will continue to use its best products and services to help Shenzhen Airport build an international aviation hub, continue to move towards the goal of ‘Future Airport,’ and realize the strategic vision of leading the airport group with excellent global management and innovation as soon as possible."

Customer recognition and trust are the driving force behind Huawei’s ongoing innovation and efforts to push forward. Indeed, Huawei UPS is seeking to develop towards high frequency, modularization, and intelligence.

About Huawei

Huawei is a leading global provider of information and communications technology (ICT) infrastructure and smart devices. With integrated solutions across four key domains – telecom networks, IT, smart devices, and cloud services – we are committed to bringing digital to every person, home and organization for a fully connected, intelligent world.

Huawei’s end-to-end portfolio of products, solutions and services are both competitive and secure. Through open collaboration with ecosystem partners, we create lasting value for our customers, working to empower people, enrich home life, and inspire innovation in organizations of all shapes and sizes.

At Huawei, innovation focuses on customer needs. We invest heavily in basic research, concentrating on technological breakthroughs that drive the world forward. We have more than 194,000 employees, and we operate in more than 170 countries and regions. Founded in 1987, Huawei is a private company wholly owned by its employees.

For more information, please visit Huawei online at www.huawei.com.

Related Links :

http://www.huawei.com/cn

PR Newswire

Chayora’s TJ1 Data Centre confirmed as first OCP READY™ facility in China

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HONG KONG, Oct. 27, 2020 — Chayora Limited, an international infrastructure investor, developer and operator of hyperscale data centre campuses in China, today was confirmed by the Open Compute Project Foundation (OCP) to be the first data centre facility having achieved OCP Ready™ certification in China.

Chayora’s TJ1 Data Centre, located in Tianjin, China to serve the Greater Beijing region, is confirmed as the first OCP READY™ facility in China.
Chayora’s TJ1 Data Centre, located in Tianjin, China to serve the Greater Beijing region, is confirmed as the first OCP READY™ facility in China.

This data centre, located to serve the Greater Beijing region in Tianjin, China, is the first data centre in China to receive this OCP certification and demonstrates the exceptional build and international standards of operation, designed to suit the explosive demand for processing in the China market.  

Chayora’s TJ1 facility has exceeded the guidelines created by the OCP Data Centre Facility Project Team and serves as a reference for data centre operators and tenants who want to understand the fundamental facility requirements to deploy OCP hardware into their IT space. Facilities that meet the OCP READY™ requirements and approved by the OCP Data Center Facilities Project receive the certification as an OCP Ready™ facility.

Chayora’s data centre is one of a kind, scaleable from retail colocation to hyperscale and up to 25,000 racks with more than 300 MVA gross power available.   Offering ultra-low latency data transmission to Beijing’s Central Business District at <2ms per round trip, all data halls are designed to accommodate the high demand for smaller scale data storage requirements, including high density requirements with 30kVA/rack at a leading edge power usage effectiveness (PUE) of ≤1.2. Cloud and carrier neutral, with guaranteed performance availability of the equipment infrastructure including redundant and dual-powered servers, storage, network links and other IT components and with China-leading security standards featuring six  security zones and nine security layers, this facility really is leading the way. 

"We could not be more delighted to join the OCP community and share our unique perspectives on opening such a magnificent facility in China. As the first OCP READY™ facility in China, this certification confirms the absolute attention to world class design and build standards. We are holding our official launch event on October 29th and would be delighted for any OCP members to join us and view a virtual fly-through of  our incredible facility," said Jonathan Berney, COO of Chayora.

Chayora’s new site can be viewed first-hand via registration for the launch event on Thursday 29th October at 0900 HK (live event) https://apevents.idc.com/d/p7q4wz/4W?RefID=Chayora or 0900 UK time (replay) here https://zoom.us/webinar/register/WN_-Y2TJEYMTW2rMjMV_EVbSA

"As the momentum for open hardware designs continues to grow in north Asia, having data centers that are optimised for OCP designs becomes increasingly important.  Having Chayora as our first OCP READY™ data center in China ensures those enterprises deploying OCP solutions that they will have a strong data center operator who understands open hardware and is committed to openness, scale and efficiency" stated Steve Helvie, Vice President of Channel Development for the Open Compute Project Foundation.

"An OCP READY™ data center has been through a thorough peer review process and achieved recognition for implementing the industry’s best practices for efficiency and scale.   These facilities provide cost and efficiency-optimized operation now and well into the future" stated Mark Dansie, a key member of the OCP DC Facilities Project Team and leader of the OCP READY™ program

Chayora’s OCP Ready™ facility is now listed on the OCP Marketplace.

About the Open Compute Project Foundation

The Open Compute Project Foundation (OCP) was initiated in 2011 with a mission to apply the benefits of open source and open collaboration to hardware and rapidly increase the pace of innovation in, near and around the data center’s networking equipment, general purpose and GPU servers, storage devices and appliances, and scalable rack designs. OCP’s collaboration model is being applied beyond the data center, helping to advance the telecom industry & EDGE infrastructure. 

About Chayora
Chayora Limited, headquartered in Hong Kong, is wholly-owned by Chayora Holdings Limited, a Cayman Island-based company.  Chayora develops hyperscale, world-class designed and operated, scalable data centres and data centre campuses in China.  Chayora serves global Fortune 500 companies and premium Chinese data centre operators offering cloud services, ICT services, financial services, wholesale colocation or other services offerings dependent on intensive, high quality data centre infrastructure in China.

For more information about Chayora, visit www.chayora.com.

Media Contact:
Melanie Redding
+44 7802 550 444
mel.redding@chayora.com


 


 

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PR Newswire

Momo Announces Yan Tang as the Executive Chairman and Li Wang as the New CEO

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BEIJING, Oct. 24, 2020 — Momo Inc. (Nasdaq: MOMO) ("Momo" or the "Company"), a leading mobile social networking platform in China, today announced that its board of directors (the "Board") has approved Mr. Yan Tang to step down from the position of Chief Executive Officer, and promoted Mr. Li Wang to this position, effective on November 1, 2020. Mr. Wang is a director of the Company, currently serving as the President and Chief Operating Officer of Momo. Starting from November 1, 2020, Mr. Yan Tang will become the executive chairman of the board of directors of Momo, in which role he will continue to be integrally involved in setting the strategic priorities and directing new business initiatives for Momo.

"I can think of no one better to lead Momo than Li Wang. Li’s experience as our President and Chief Operating Officer, combined with a career spanning nearly a decade with the Company, make Li the perfect choice as the new Chief Executive Officer. Li has the proven leadership track record and breadth of business experience we believe are critical to lead Momo, including the ability to execute our strategic vision, the commitment to our people and core values, and the focus on delivering return to shareholders. I am delighted to be handing over the reins to such an outstanding leader and look forward to working together with Li to set the course for Momo into an even brighter future," said Mr. Tang.

"I know that I speak for everyone at Momo in thanking Mr. Yan Tang for his leadership and tireless dedication to the company," said Mr. Li Wang. "We have an exceptionally talented team at Momo that is focused on taking decisive actions to transform the business, continuing to innovate our products in new and diverse ways, and unlocking future growth opportunities."

Mr. Li Wang has been our Chief Operating Officer since June 2014 and our President since April 2018. Mr. Wang joined the Company as a core member of the founding team in 2011.

About Momo Inc.

We are a leading player in China’s online social and entertainment space. Through Momo, Tantan and other properties within our product portfolio, we enable users to discover new relationships, expand their social connections and build meaningful interactions. Momo is a mobile application that connects people and facilitates interactions based on location, interests and a variety of recreational activities including live talent shows, short videos, social games as well as other video- and audio-based interactive experiences, such as live chats and mobile karaoke experience. Tantan, which was added into our family of applications through acquisition in May 2018, is a leading social and dating application for the younger generation. Tantan is designed to help its users find and establish romantic connections as well as meet interesting people.

For investor and media inquiries, please contact:

Momo Inc.

Momo Investor Relations
Phone: +86-10-5731-0538
Email: ir@immomo.com

Christensen

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

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

Safe Harbor Statement

This news release contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the Private Securities Litigation Reform Act of 1995.

Our forward-looking statements are not historical facts but instead represent only our belief regarding expected results and events, many of which, by their nature, are inherently uncertain and outside of our control. Our actual results and other circumstances may differ, possibly materially, from the anticipated results and events indicated in these forward-looking statements. In addition, there are other risks and uncertainties that could cause our actual results to differ from what we currently anticipate. For additional information on these and other important factors that could adversely affect our business, financial condition, results of operations, and prospects, please see our filings with the U.S. Securities and Exchange Commission.

All information provided in this press release and in the attachments is as of the date of the press release. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, after the date of this release, except as required by law. Such information speaks only as of the date of this release.

Related Links :

http://ir.immomo.com/

PR Newswire

Omdia 5G report: live networks pass 100 in 3Q20, 85% of CSPs yet to launch

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LONDON, Oct. 23, 2020 —

  • 5G mobile broadband launches passed 100 during 3Q20.
  • Western Europe has the largest number of 5G launches, followed by Asia-Pacific.
  • With Apple’s iPhone 12 launch, 5G coverage and network quality is even more of a critical area of differentiation and competition for service providers.

The number of commercial 5G mobile broadband networks launched globally hit 109 in Q3 2020, according to Omdia’s latest 5G Service Provider Tracker. When taking into account networks that use 5G to deliver home broadband services (Fixed Wireless Access, ‘FWA’), the total number of Communication Service Provider (CSP) launches reached 140 at end-3Q20.

Western Europe has the largest number of commercial 5G mobile broadband networks, at 33, followed by Asia-Pacific with 31, and the Middle East, with 17. The Middle East has the highest number of live 5G FWA networks, at 11, followed by Western Europe, with 8, and Asia-Pacific, with 6.

5G is already the second-fastest-growing new cellular network technology ever launched by the telecoms industry, behind only the first mass-market mobile service, 2G (GSM). The number of mobile broadband networks is 38% higher than it was for 4G two full years after the first launches, while in its first full year of commercial services 5G exceeded the total number of subscriptions 4G had after three years. 

Even with a strong start there still remains huge scope for growth for 5G as 85 % of CSPs have yet to launch 5G. This is partly due to local governments not making the 5G spectrum available yet. By 2025 Omdia expects there will be over three billion 5G mobile subscriptions, representing nearly one third of all total mobile subscriptions.

Paul Lambert, Principal Analyst at Omdia, commented: "The telecoms industry has been more successful than ever in agreeing extremely complex 5G technology standards, and then manufacturing network equipment and devices that enable service providers that want to get a head-start on 5G to launch.

"As activity shifts increasingly online, 5G, like previous technology generations, will both expand on and enhance the way people experience their connected digital lives. For specialist users, such as gamers, industries, and businesses, 5G also brings quicker response times, so that data-heavy experiences, services, and applications feel more vivid and immediate"

Consumer Interest:

5G smartphones from leading manufacturers such as Samsung and Huawei have been in the market for over a year, however consumer interest in 5G is set to grow following October’s iPhone 12 launch, Apple’s first 5G device.

Apple’s launch will have a significant effect on the global telecoms industry as it will encourage service providers across the globe that have yet to build their 5G networks to begin their planning in earnest. It will also enable CSPs to justify the new investments required to expand and enhance coverage beyond initial areas because more people will be ready to access 5G.

Meanwhile, even faster 5G speeds made possible by mmWave spectrum, which the iPhone 12 currently supports in the US, will enable service providers and their partners to create rich new site-specific services, for example in stadiums and shopping centres.

Omdia is a registered trademark of Informa PLC and/or its affiliates. All other company and product names may be trademarks of their respective owners. Informa PLC registered in England & Wales with number 8860726, registered office and head office 5 Howick Place, London, SW1P 1WG, UK. Copyright © 2020 Omdia. All rights reserved. 

*The majority of IHS Markit technology research products and solutions were acquired by Informa in August 2019 and are now part of Omdia. 

PR Newswire

All Wondershare Software Now Compatible with iOS 14

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VANCOUVER, BC, Oct. 23, 2020 — Wondershare announced today that all of it mobile products are compatible with iOS 14. As a global leader in software development and a pioneer in the field of digital creativity, Wondershare is committed to providing its users with seamless solutions for iOS 14.

All Wondershare Software Now Compatible with iOS 14
All Wondershare Software Now Compatible with iOS 14

"Apple’s latest iOS14 system is providing a smarter, safer, and more convenient way to protect your data," says Tobee Wu, CEO of Wondershare. "We are dedicated to providing the best software experience possible for our users and so we have made all of our apps compatible with the latest iPhone and iPad system."

This is an important change for the teams behind all of Wondershare’s mobile products as well.

"With the iOS14 compatibility upgrade we’ve also been able to add new features," says Alex Lu, Product Director for Wondershare FilmoraGo. "Our users will experience faster video creation and get access to dozens of cool sticker packs and 20 new template sets. We’ve added all that, and we’ve still been able to reduce the app size by 26%."

Wondershare FilmoraGo – create stories with iOS14

Wondershare FilmoraGo is an easy-to-use video editing app with advanced features and tons of ways to be creative. Edit music videos, make movies, and share videos with friends. Users will save time and have a blast.

Wondershare Dr.Fone – the complete mobile solution for iOS14

Wondershare Dr.Fone provides a variety of solutions for iOS and Android devices such as data recovery, data transfer, WhatsApp transfer, phone cloning, system repair, unlocking, data erasing, and more.

Wondershare MobileTrans – ready to transfer between iOS14 and Android

Wondershare MobileTrans is a desktop software that lets users transfer WhatsApp data and other data between phones. It makes it easier to back up and restore data using multiple devices.

Wondershare TunesGo – must have phone manager for iOS14

Wondershare TunesGo allows users to manage and back up contacts, photos, music and SMS messages in a safer and simpler way.

About Wondershare:

Founded in 2003, Wondershare is a global leader in software development and a pioneer in the field of digital creativity. Our technology is powerful, and the solutions we provide are simple and convenient. That’s why we’re trusted by millions of people in over 150 countries worldwide. We help our users pursue their passions so that, together, we can build a more creative world.  

www.wondershare.com

 

Related Links :

http://www.wondershare.com/

PR Newswire

Color Star Technology Announces Receipt of Nasdaq Continued Listing Deficiency Notice

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NEW YORK, Oct. 23, 2020 — Color Star Technology Co., Ltd. (Nasdaq CM: CSCW) (the "Company", or "Color Star"), a company engaged in the businesses of providing online and offline paid knowledge services for the media, entertainment and culture industries globally, today announced on October 16, 2020, the Company received a notification letter (the "Notification") from Nasdaq Listing Qualifications advising the Company that based upon the closing bid price for the Company’s ordinary shares for the past 30 consecutive business days, the Company no longer met the minimum $1.00 per share Nasdaq continued listing requirement set forth in Nasdaq Listing Rule 5550(a)(2). The Notification also stated that Under Rule 5810(c)(3)(A), the Company would be provided 180 calendar days, or until April 14, 2021, to regain compliance with the foregoing listing requirement. To do so, the bid price of the Company’s ordinary shares must close at or above $1.00 per share for a minimum of 10 consecutive business days prior to that date.

In the event the Company does not regain compliance by the first compliance deadline, the Company may be eligible for additional time to regain compliance. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and will need to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. If the Company meets these requirements, the Nasdaq staff will inform the Company that it has been granted an additional 180 calendar days. However, if it appears to the Nasdaq staff that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, the staff will provide notice that its securities will be subject to delisting.

The Company provides no assurance that its ordinary shares will trade at levels necessary to regain and maintain compliance with the above-referenced bid price rule before the compliance deadline. The Company intends to continue to monitor the bid price for its ordinary shares. If the Company’s ordinary shares do not trade at a level that is likely to regain compliance with the Nasdaq requirements, the Company’s Board of Directors will consider other options that may be available to achieve compliance.

About Color Star Technology

Color Star Technology Co, Ltd. (Nasdaq CM: CSCW) offers online and offline paid knowledge services for media, entertainment and culture industries globally. Its business operations are conducted through its wholly-owned subsidiaries Color China Entertainment Ltd. and CACM Group NY, Inc. The Company’s online education is provided through its Color World music and entertainment education platform. The Company also offers after-school entertainment tutoring in New York via its joint venture entity Baytao LLC. More information about the Company can be found at www.colorstarinternational.com.

Forward-Looking Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Specifically, the Company’s statements regarding its intention to cure the Nasdaq continued listing deficiency are forward-looking statement. Forward-looking statements are not guarantee of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following:  the Company’s goals and strategies; the Company’s future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the educational and training services market in China and other countries where CSCW conducts its business; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission.  For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof.

For more information, please contact:

Tony Tian, CFA 
Email: ttian@weitianco.com
Phone: +1-732-910-9692