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PR Newswire

Sparrow to Present its Cloud Application Security Solution at Virtual Black Hat USA 2020

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LAS VEGAS, July 31, 2020 — Sparrow has announced on the 27th of July that it would be presenting its cloud application security solutions through the annual BlackHat USA 2020 conference for the third consecutive year.

BlackHat USA provides the world with leading information security industry knowledge, research and trends at an event that brings cybersecurity industry professionals to one place.  

This year, the event is held online due to COVID-19 but the conference dates are the same as planned from August 1st to 6th Pacific Daylight Time (UTC−07:00), with Sparrow hosting from 5th through 6th at its virtual booth.

Sparrow will present its Sparrow Cloud, a cloud based security testing tool. Since last year, Sparrow has been able to make great progress in merging previously distinct static analysis and dynamic analysis onto a single service.

Detailed information about Sparrow’s Black Hat showcase can be found on the Sparrow event page for Black Hat events. Any industry professionals and individuals are welcome to sign up before the deadline, through the BlackHat USA official site.

About Sparrow Co. Ltd.

Since 2007, Sparrow has been developing and researching in the field of application security. Over the past decade, the company has expanded use cases to customers across a large number of industries from financial services to government ministries.

Sparrow provides an intelligent and comprehensive solution package including SAST, DAST, IAST, RASP and other products which is able to cover the entire SDLC (Software Development Life Cycle) for perfect DevSecOps implementation.   

Sparrow has been recognized by many awards, reviews and certification including Gartner’ Magic quadrant for Application security, ISO 26262, and CC.

For more information, visit www.sparrowfasoo.com or follow us on Facebook page.

Related Links :

http://www.sparrowfasoo.com
PR Newswire

GigaMedia Announces Second-Quarter 2020 Financial Results

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TAIPEI, July 31, 2020 — GigaMedia Limited (NASDAQ: GIGM) today announced its second-quarter 2020 unaudited financial results.

Comments from Management

In the second quarter of 2020, GigaMedia reported revenues of $1.83 million, with a gross profit $0.98 million, an operating loss of $0.55 million and the net loss of $0.42 million. Total revenues increased by 13.8% if compared to the previous quarter.

"In spite of the ongoing disruption of the pandemic to our operations, we have achieved clear improvements," said GigaMedia CEO James Huang. "We have reshaped our cost structure and remodeled our marketing strategies, thereby approximately halved the operating loss if comparing to the same quarter last year."

"And we are also enhancing the playability and stickiness of FunTown M, our in-house developed mobile platform of casual games," continued GigaMedia CEO James Huang, "which will be the most crucial piece to fall in place for our turning profitable beyond just break-even."

Second Quarter Overview

  • Operating revenues increased by approximately 13.8% quarter-on-quarter, to $1.83 million from $1.60 million in last quarter, and 4.3% year-over-year from $1.75 million the same period last year. The increase was mainly attributable to our efforts in revitalizing Tales Runner, a 14-year-old licensed game we operate in Hong Kong.
  • Gross profit increased slightly by 5.5% to $0.98 million from $0.93 million in last quarter, and increased by 27.2% compared to $0.77 million in the same period last year.
  • The net asset value was $4.96 per share.

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 browser/mobile games and casual games.

Unaudited consolidated results of GigaMedia are summarized in the table below.

For the Second Quarter

GIGAMEDIA 2Q20 UNAUDITED CONSOLIDATED FINANCIAL RESULTS

(unaudited, all figures in US$ thousands, except
per share amounts)

2Q20

1Q20

Change

(%)

2Q20

2Q19

Change

(%)

Revenues

1,826

1,604

13.8

%

1,826

1,750

4.3

%

Gross Profit

978

927

5.5

%

978

769

27.2

%

Loss from Operations

(549)

(640)

NM

(549)

(1,122)

NM

Net Loss Attributable to GigaMedia

(419)

(286)

NM

(419)

(614)

NM

Net Loss Per Share Attributable to

   GigaMedia, Diluted

(0.04)

(0.03)

NM

(0.04)

(0.06)

NM

EBITDA (A)

(634)

(536)

NM

(634)

(1,000)

NM

Cash, Cash Equivalents and

   Restricted Cash

56,783

57,311

(0.9)

%

56,783

58,015

(2.1)

%

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.) 

Second-Quarter Financial Results

  • Consolidated revenues for the second quarter of 2020 increased by 13.8% quarter-on-quarter to $1.83 million from $1.60 million in last quarter, and by 4.3% year-over-year from $1.75 million the same period last year.
  • Consolidated gross profit was $0.98 million, increased by 5.5% quarter-on-quarter and 27.2% year-over-year.
  • Consolidated operating expenses were $1.53 million, comparable to the first quarter of 2020 and decreased by 19.3% if compared to the same period last year, which reflected a decrease in marketing expenses and general expenses.
  • Consolidated loss from operation of the second quarter of 2020 was a loss of $0.55 million, reflecting an improvement from a loss of $0.64 million in the first quarter.
  • Net loss in the second quarter of 2020 was $0.42 million, increasing from a net loss of $0.29 million in the first quarter this year mainly due to lower interest income and exchange loss in this quarter. 
  • Cash, cash equivalents and restricted cash at the end of the second quarter of 2020 amounted to $56.8 million, slightly decreased by 0.9% from $57.3 million as of the end of the first quarter.

Financial Position

GigaMedia maintained its solid financial position, with cash, cash equivalents and restricted cash amounted to $56.8 million, or $5.14 per share, as of June 30, 2020.

Business Outlook

The following forward-looking statements reflect GigaMedia’s expectations as of July 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 the second half of 2020, we will continue improving productivities of the existing games, in which FunTown M, our own mobile platform of casual games, is expected to begin contributing to our revenues. Along with our various product lines and customer platform, we will gradually accumulate the momentum to an upward trend.  

Meanwhile, our management continues evaluating and pursuing prospects of strategic investment targets that are with potential to expand our business and create greater shareholder value.

Use of Non-GAAP Measures

To supplement GigaMedia’s consolidated financial statements presented in accordance with US 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 second 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 in Taiwan and Hong Kong. GigaMedia’s digital entertainment service business is an innovative leader in Asia with growing capabilities of development, distribution and operation of digital entertainments, as well as platform services for games with a focus on mobile games and casual games. More information on GigaMedia can be obtained from www.gigamedia.com.tw.

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

Six months ended

06/30/2020

03/31/2020

06/30/2019

06/30/2020

06/30/2019

unaudited

unaudited

unaudited

unaudited

unaudited

USD

USD

USD

USD

USD

Operating revenues

Digital entertainment service revenues

1,825,547

1,603,904

1,749,583

3,429,450

3,232,816

Other revenues

—

—

—

—

—

1,825,547

1,603,904

1,749,583

3,429,450

3,232,816

Operating costs

Cost of digital entertainment service

    revenues

847,906

677,194

980,448

1,525,099

1,725,350

Cost of other revenues

—

—

—

—

—

847,906

677,194

980,448

1,525,099

1,725,350

Gross profit

977,641

926,710

769,135

1,904,351

1,507,466

Operating expenses

Product development and engineering

   expenses

332,745

328,815

325,144

661,560

645,638

Selling and marketing expenses

367,529

410,475

580,539

778,004

1,106,542

General and administrative expenses

825,998

824,442

974,648

1,650,440

1,810,634

Other

(42)

2,984

11,165

2,942

16,380

1,526,230

1,566,716

1,891,496

3,092,946

3,579,194

Loss from operations

(548,589)

(640,006)

(1,122,361)

(1,188,595)

(2,071,728)

Non-operating income (expense)

Interest income

212,881

255,719

414,450

468,600

796,250

Foreign exchange (loss) gain – net

(82,357)

98,887

90,922

16,529

79,520

Other – net

(1,404)

(298)

3,416

(1,702)

50,328

129,120

354,308

508,788

483,427

926,098

Loss before income taxes

(419,469)

(285,698)

(613,573)

(705,168)

(1,145,630)

Income tax benefit (expense)

—

—

—

—

—

Net loss attributable to shareholders of
GigaMedia

(419,469)

(285,698)

(613,573)

(705,168)

(1,145,630)

Loss per share attributable to GigaMedia

   Basic

(0.04)

(0.03)

(0.06)

(0.06)

(0.10)

   Diluted

(0.04)

(0.03)

(0.06)

(0.06)

(0.10)

Weighted average shares outstanding:

Basic

11,052,235

11,052,235

11,052,235

11,052,235

11,052,235

Diluted

11,052,235

11,052,235

11,052,235

11,052,235

11,052,235

 

GIGAMEDIA LIMITED

CONSOLIDATED BALANCE SHEETS

06/30/2020

03/31/2020

06/30/2019

unaudited

unaudited

unaudited

USD

USD

USD

Assets

Current assets

Cash and cash equivalents

56,247,678

56,777,472

57,489,563

Accounts receivable – net

349,450

355,225

591,905

Prepaid expenses

228,794

276,010

275,551

Restricted cash

535,153

533,436

525,354

Other receivables

203,671

238,396

458,383

Other current assets

142,230

148,757

131,150

Total current assets

57,706,976

58,329,296

59,471,906

Property, plant & equipment – net

7,740

8,117

92,580

Intangible assets – net

17,111

17,965

23,545

Prepaid licensing and royalty fees

184,365

210,530

574,274

Other assets

290,687

285,319

1,035,529

Total assets

58,206,879

58,851,227

61,197,834

Liabilities and equity

Accounts payable

69,147

60,405

119,597

Accrued compensation

278,622

156,948

253,262

Accrued expenses

1,321,262

1,449,553

1,340,539

Unearned revenue

1,058,940

1,285,399

1,617,881

Other current liabilities

627,162

715,877

197,776

Total current liabilities

3,355,133

3,668,182

3,529,055

Other liabilities

3,653

7,337

781,187

Total liabilities

3,358,786

3,675,519

4,310,242

GigaMedia’s shareholders’ equity

54,848,093

55,175,708

56,887,592

Total liabilities and equity

58,206,879

58,851,227

61,197,834

GIGAMEDIA LIMITED

RECONCILIATIONS OF NON-GAAP RESULTS OF OPERATIONS

Three months ended

Six months ended

06/30/2020

03/31/2020

06/30/2019

06/30/2020

06/30/2019

unaudited

unaudited

unaudited

unaudited

unaudited

USD

USD

USD

USD

USD

Reconciliation of Net Loss to EBITDA

Net loss attributable to GigaMedia

(419,469)

(285,698)

(613,573)

(705,168)

(1,145,630)

Depreciation

535

354

14,769

889

40,156

Amortization

(2,257)

4,657

12,830

2,400

25,729

Interest income

(212,881)

(255,719)

(414,450)

(468,600)

(796,250)

Interest expense

—

—

—

—

—

Income tax (benefit) expense

—

—

—

—

—

EBITDA

(634,072)

(536,406)

(1,000,424)

(1,170,479)

(1,875,995)

 

 

Related Links :

http://www.gigamedia.com

http://www.gigamedia.com.tw

PR Newswire

Mr. Anil Jaggia, Former CIO, HDFC Bank, joins Cloud4C – a CtrlS Company, as a Strategic Advisor

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He will play a pivotal role in designing innovative smart and intelligent technology solutions for the Banking sector

SINGAPORE and HYDERABAD, India, July 31, 2020 —  Mr. Anil Jaggia, former CIO, HDFC Bank, and a technology veteran has joined Cloud4C – a CtrlS company, as a strategic advisor for the banking practice. He will work closely with the organization’s leadership team with a key focus on enabling large banking transformation projects on Cloud, DevOps, Automation, and aid banks in their digital transformation journey. He is a graduate in management from IIM Ahmedabad and holds an engineering degree from IIT Kanpur. He enjoys strong credentials and brings along over 30 years of rich experience across a wide spectrum of financial services, business and IT strategies.

Mr. Anil Jaggia, Former CIO, HDFC Bank, joins Cloud4C – a CtrlS Company, as a Strategic Advisor
Mr. Anil Jaggia, Former CIO, HDFC Bank, joins Cloud4C – a CtrlS Company, as a Strategic Advisor

Earlier, in 2008, Mr. Anil Jaggia – a highly respected and visionary technology leader in the banking sector – had taken over as CIO of HDFC Bank and played a key role in digital transformation of the bank and led it to an enviable leadership position. Some of the key initiatives taken by him at HDFC Bank were around core transformation, data warehouse, Analytics, Digital Banking, Business Continuity, along with additional responsibility to lead a Coordination Council for Financial Inclusion (FI) and Sustainable Livelihood Banking (SLB). Before joining HDFC Bank, he was Chief Operating Officer of Centurion Bank of Punjab Limited, for four years. Before this, Mr. Jaggia worked for over 18 years with Citibank at Chicago, New York, Singapore, Mumbai and Kolkata.

Mr. Anil Jaggia said, “I am happy to join Cloud4C as a Strategic Advisor. The world of banking is now strategically moving from physical banking to contact-less banking. The future is where everything will communicate through internet of things to find and engage customers powered by artificial intelligence, machine learning, social technologies, analytics and efficient storage and computing technologies.” He further said, “I am looking forward to actively and closely working with the Cloud4C leadership team to build innovative, new age, collaborative, agile, open, secure, rapidly scalable and regulatory compliant banking technology solutions to help banking sector embrace the digital future.”

Digital banking is the future as banking products and services will be delivered through mobile apps, processed through API, and delivered through all internet channels making virtual banking a reality. Digital Banking worldwide market is projected to reach $500 billion by 2027 with a digital user base of 4 billion. Cloud4C with its presence in 50 locations across 25 countries plans to serve 25,000 banks worldwide through its banking community cloud and other new age banking technology solutions combined with its intelligent cloud managed services. The company today serves 60 of the Fortune 500 global multinationals and 20+ banks globally compliant with regulations such as GDPR in Europe RBI guidelines in India among others.

Mr. Sridhar Pinnapureddy, Founder and CEO, Cloud4C Services, said, “I am extremely delighted to welcome Mr. Anil Jaggia, a seasoned banking industry veteran who brings deep experience in business-IT alignment, innovation in IT strategies in banking sector. I extend him a warm welcome to the Cloud4C family. He further added, “Mr. Anil will play a key role in shaping our new age technology solutions for the banking sector as banking is becoming embedded and ubiquitous.”

About Cloud4C

Cloud4C is the World’s leading Cloud Managed Services provider and trusted advisor to 4,000 customers in 25 Countries and 50 locations including 60 of the Fortune 500 Global Multinationals. The company provides cloud (public, private, hybrid) and community cloud services (Banking Community Cloud, SAP Community Cloud), cloud migration on hyperscalers such as AWS, Microsoft Azure, Google Cloud, end to end intelligent cloud managed services, disaster recovery services, managed security services and helps businesses comply with  stringent data sovereignty laws in respective countries.

The company plans to expand its geographical footprint to 80 countries and 160 locations worldwide in the next 36 to 48 months.

www.cloud4c.com

Media Contact:
B.S. Rao
Vice President and Global Head (PR and Communications)
Cloud4C Services
bsrao@cloud4c.com
www.cloud4c.com

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PR Newswire

eBaoCloud InsureMO Accelerates Insurance Customer Growth on AWS

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Over the last year, Aegon Life has strengthened its position as a digital insurer by leveraging eBaoCloud’s InsureMO on AWS to gain speed and agility

NEW YORK, July 30, 2020 — eBaoTech Corporation (eBaoTech), a global leader in digital insurance solutions, announced that Aegon Life has joined more than 10 new clients across the US, Brazil, India, Botswana, Philippines, Indonesia, and Singapore – ranging from insurance carriers, insurtech startups, and digital channel partners – that have turned to InsureMO™ on Amazon Web Services (AWS) for increased agility and innovation, including faster product launches and new channel integrations.

Aegon Life India chose InsureMO on AWS, to help extend investments in core systems without wholesale replacement of those systems. Core systems are often a barrier to digital innovation, new products across new channels delivering a better user experience, and replacing them is often too costly and time consuming. eBaoCloud InsureMO provides an API-based modernization layer around core systems that enables configuration of new insurance policy types, integration to new channels and partners, and rapid development and deployment of new products with low launch costs that drive new policy volumes at scale. For example, Aegon Life was able to launch its group platform with an eCommerce company within six weeks, which otherwise would have taken months.

Additional benefits for Aegon Life include:

  • Multiple lines of businesses running off a single platform enabled by InsureMO
  • API support for distribution partners willing to do servicing beyond just sales (making Aegon Life one of a few carriers capable of providing this type of support)
  • Shortening new product launches from months to 2-3 weeks
  • Launching new insurance plans for affinity partners in less than a day
  • Reducing the partner onboarding process from weeks to 1-3 days

All of these benefits are enabled by the scale, resiliency, and agility AWS offers.

eBaoCloud® InsureMO™ platform is based on a microservices architecture and contains common APIs needed to manage the whole lifecycle of General (P&C), Life, and Health insurance policies. This includes quotation, illustration, underwriting, payment, and claims. The platform can seamlessly integrate with external applications and services such as Optical Character Recognition (OCR), voice recognition, payment, and location by API calls. InsureMO also supports third parties to develop APIs and register on InsureMO. The availability of templates enables product configuration and speed. Currently, over 3,000 products templates from over 120 insurance companies across more than 10 countries have been configured on eBaoCloud InsureMO.

“The term ‘Digital Transformation’ in insurance is no longer about just replacing your legacy core with a modern core system. The need is to package and launch products in matter of days and connect to multiple channels. eBaoCloud’s  InsureMO platform solves the same problem with the ‘3V‘ proposition (massive Volume, Velocity and Variation) without waiting for legacy core replacements and driving API-led connectivity to enable any insurance scenarios from Life, General, Group, and Health,”  Rajat Sharma, Corporate VP and Head of Sales and Strategy commented, “We are very excited to work with AWS and rely on them, with the broadest global presence, to quickly roll out InsureMO during this critical industry revolution era.”

InsureMO’s first client in India, Douglas Kennedy, Chief Technology Officer, Aegon Life Insurance said, “We are delighted to be included in the first wave of partnerships for eBaoCloud InsureMO on AWS in India. This association will help us continue to be the differentiators in the industry and achieve greater speed to market and speed to value. The first launch of our group platform with an eCommerce player was achieved within six weeks of signing our partnership with eBaoTech demonstrating by having the right teams, right architecture, right vision you can run at great speed.”

Ralph Severini, Global Strategy Lead, AWS Insurance Independent Software Vendors, Amazon Web Services, Inc. said, “AWS is delighted to support eBaoTech as they leverage the agility and scale of the cloud to bring new and innovative products to market faster with the goal of providing richer experiences for their customers. AWS’s collaboration with eBao provides Aegon Life with the foundation to achieve accelerated growth at scale and support expedited policy delivery, which their customers have come to expect.”

eBaoTech holds AWS Financial Services Competency status and is an Advanced Technology Partner in the AWS Partner Network (APN). Achieving the AWS Financial Services Competency differentiates eBaoTech as an APN member that possesses deep industry expertise, solutions designed with AWS architectural best practices, and staff with AWS certifications. APN Partners are vetted, validated, and verified against a high bar to achieve the AWS Competency designation.

Watch an online video about Aegon Life Insurance Company CTO sharing the success story at https://vimeo.com/442616376

About eBaoTech
eBaoTech is a digital solution provider to the global insurance industry and our mission is to “make insurance easy”. We do business in more than 30 countries globally, serving over 200 carriers and numerous agents, brokers, insurTech’s and others in the insurance ecosystem. Digital insurance is the coming wave and the insurance industry is moving into the API economy. eBaoTech provides solutions and services that enable digital insurance.

eBaoTech has been dedicated to insurtech innovation since its founding in 2000. In 2001, eBaoTech developed the world’s first browser/server-based insurance core system suite, leading the advent and adoption of Java-based 3G insurance IT. In 2015 eBaoTech launched the world’s first distributed, cloud-native and microservices based 4G insurance platform that provides a complete set of insurance APIs across an insurance policy’s full lifecycle. eBaoTech offers a cloud based solution that enables digital insurance and enterprise level core system insurance software. We make insurance easy.

eBaoTech Digital Solutions

eBao Cloud is a family of products based on open API insurance platform that provides real time connectivity and transactional capabilities to insurers, traditional channel partners, affinity partners, and insurTech startups. eBao Software includes core system suites for Life, P&C, and Health Insurers as well Re-Insurers. More information, please visit www.ebaotech.com.

Related Links :

http://www.ebaotech.com

PR Newswire

Cinemas reopen across China after unprecedented closure

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BEIJING, July 30, 2020 — A news report by China.org.cn on the reopening of China’s cinemas:

 

 

Since last week, cinemas in low-risk regions of China have reopened for business. This means that after six months in the dark, the country’s movie theaters can finally accept customers again, and China’s film market can begin where it left off.

According to the pandemic control requirements, movie theaters are now required to keep attendance under 30% capacity for each screening and strictly disinfect venues every day. Moviegoers must undergo temperature checks prior to admission, should sit in non-adjacent seats, and need to wear face masks when watching films. Currently, theaters are mainly screening hit domestic and foreign films, such as “The Wandering Earth”, “Coco” and “Zootopia.” Several new domestic movies are also set for release in the coming months.

On the first day of reopening, cinemas in cities such as Nanjing, Chengdu and Hangzhou quickly sold out. With the Shanghai International Film Festival opening on July 25 and screening more than 300 films, tickets for the event also sold out almost entirely in three minutes. In total, over 100,000 tickets were sold within just 10 minutes of presales being launched.

This year, the COVID-19 pandemic has resulted in an unprecedented shutdown of the global movie industry. China’s film market has also encountered huge difficulties. By March this year, more than 2,000 cinema enterprises had closed permanently across the country, with estimated losses in box office revenue for the year amounting to more than 30 billion yuan (US$4.27 billion).

China is the world’s second largest film market. During the past two decades, with increases in economic development and consumption, and through the opening-up of markets and deepening reforms, the Chinese film market has maintained rapid growth in terms of market scale and production. In 2019, the country had nearly 70,000 screens, while the annual box office gross peaked as high as 64.27 billion yuan (US$9.17 billion). This shows that China’s film market has robust demand and potential, which will be unleashed gradually over time.

Although there are still many complex and difficult problems facing cinemas as they resume operations, the reopening is significant. It conveys positive signals that China’s economy is starting to recover from the pandemic, and social life is beginning to get back on track. For the global film market, the reopening of Chinese cinemas is also good news. Hopefully, it won’t be long before China’s film market resumes to its usual prosperity.

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

Cinemas reopen across China after unprecedented closure
http://www.china.org.cn/video/2020-07/30/content_76329991.htm

 
PR Newswire

Frost & Sullivan: Proliferation of Edge Computing and Testing M2M Solutions to Drive IoT Test and Measurement Market by 2025

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Understanding the performance of proprietary applications on connected devices outside the enterprise secure network infrastructure will be a key challenge

SANTA CLARA, California, July 30, 2020 — Frost & Sullivan’s recent analysis, Growth Opportunities in Test and Measurement in the IoT Market, Forecast to 2025, finds that because of COVID-19 the proliferation of machine-to-machine (M2M) devices will decrease during 2020. This will have a significant impact on the demand for testing equipment that validates their performance (with the exception of equipment for connected health applications). Frost & Sullivan expects growth to rebound by 2021, with revenue ultimately expanding at a compound annual growth rate (CAGR) of 5.1% to reach $3.25 billion by 2025, up from $2.40 billion in 2019.

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"5G development for IoT use cases will continue to be important during the pandemic. Given the complex nature of its deployment, there would be a requirement for software-based testing solutions that can test virtualized 5G network slices as well as test broad frequency spectrums," said Rohan Joy Thomas, Measurement & Instrumentation industry analyst at Frost & Sullivan. "Going forward, understanding the performance of proprietary applications on connected devices outside the enterprise secure network infrastructure is a key challenge that test and measurement companies need to resolve.

"Of all the IoT applications, test and measurement solutions that are used to test M2M applications in the connected home environment are the most dominant, representing 45.7% of all IoT test applications. As the healthcare sector plays a crucial role in combating COVID-19, test and measurement solutions used for connected health applications will experience the highest CAGR of all applications over the forecast period."

The proliferation of IoT across industries has presented immense growth opportunities for market participants involved in the IoT test and measurement space. Frost & Sullivan recommends that they:

  • Develop solutions that can test high-speed Ethernet interfaces as well as physical entities.
  • Provide over-the-air testing solutions that can test sub-6 gigahertz as well as higher millimeter wave applications.
  • Introduce enhanced software testing capabilities along with artificial intelligence, machine learning, and cybersecurity to enhance the portfolio
  • Provide solutions that can regulate the consumption of energy from connected devices operating at narrowband frequencies and low energy levels, thereby increasing the device’s longevity.

Growth Opportunities in Test and Measurement in the IoT Market, Forecast to 2025 is the latest addition to Frost & Sullivan’s Measurement & Instrumentation research and analysis available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.

About Frost & Sullivan

For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Growth Opportunities in Test and Measurement in the IoT Market, Forecast to 2025
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Mobile Field Service Management Market in North America Set to Surpass $4 Billion by 2025

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Increasing migration towards cloud-based field service management solutions presents immense growth prospects finds Frost & Sullivan

SANTA CLARA, California, July 30, 2020 — Frost & Sullivan’s recent analysis, North American Mobile Field Service Management Market Continues to Offer Expansion Opportunities: Forecast to 2025, reveals that the mobile field service management (FSM) market in North America is expected to surpass $4 billion by 2025, exhibiting a compound annual growth rate of 17.4%. FSM’s mobility component continues to spur market adoption by expanding its addressable market and introducing new cutting-edge technologies and partnerships to the FSM ecosystem. Although user growth is expected to slow down due to COVID-19, it is likely to recover by 2022 and witness more than two-fold growth over the forecast period.


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"Mobilized FSM solutions enable remote service workers to receive and transmit work-related information and guidance on a real-time basis," said Jeanine Sterling, Information & Communication Technologies Industry Director at Frost & Sullivan. "Going forward, we expect these solutions to continue to produce impressive hard-dollar results by improving field response times, reducing paperwork, decreasing labor expenses, expediting cash flow, and increasing new sales leads."

Sterling added: "Users of mobilized FSM solutions are demonstrating an increasing level of interest in cutting-edge technologies as they can offer a differential advantage in highly competitive sectors. For example, the escalating deployment of machine learning and artificial intelligence in the FSM space alongside the integration of mobile FSM solutions with Internet of Things platforms enabling a more proactive and highly-valued approach to both machine maintenance and technician workflows."

Customers’ increasing migration towards cloud-based FSM solutions versus purchasing on-premise offerings presents immense growth prospects for mobile FSM solutions providers.

  • Vertical-specific solutions will create new revenue streams for FSM solutions providers and their channels.
  • High-powered, low-latency 5G networks can pave the way to a new level of FSM apps and capabilities.
  • Sharpening predictive and proactive field service capabilities will optimize the service experience and increase profitability.
  • Implementing high-touch post-sale communications strategies will uncover and capture incremental sales opportunities.
  • Optimizing FSM solution integration will enhance customer satisfaction, expedite service response intervals, and increase profits.

North American Mobile Field Service Management Market Continues to Offer Expansion Opportunities: Forecast to 2025 is the latest addition to Frost & Sullivan’s Information & Communication Technologies research and analysis available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.

About Frost & Sullivan

For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

North American Mobile Field Service Management Market Continues to Offer Expansion Opportunities: Forecast to 2025

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Media Contact:

Srihari Daivanayagam
Corporate Communications
M: +91 9742676194; P: +91 44 6681 4412
E: srihari.daivanayagam@frost.com

http://ww2.frost.com

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Premium Networks Build Differentiated Competitiveness for Carriers

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SHENZHEN, China, July 30, 2020 — Huawei hosted the "Premium Networks, Better Digital World" session at Better World Summit 2020. During this online session, global carriers, IDC analyst, and Huawei discussed how carriers can differentiate their services and improve networks to ensure businesses thrive.

Keynote speakers from IDC, China Telecom Anhui, China Mobile Guangdong, China Telecom Ningxia, Turkcell, and Huawei
Keynote speakers from IDC, China Telecom Anhui, China Mobile Guangdong, China Telecom Ningxia, Turkcell, and Huawei

Differentiated networks will be a competitive edge for carriers

The rapid digitalization of the ICT industry, along with the wider deployment of 5G, growth of online education during the recent global health epidemic, and public cloud, have put greater pressure on network infrastructure. Gary Lu, President of Huawei’s Network Marketing & Solution Sales Dept, said: "Industrial digitalization will accelerate in the next 5 years, and individuals, homes, and enterprises will also be more demanding of the services they receive. We think it’s better for carriers to replace best-effort services with differentiated services that have guaranteed SLAs. That’s how they can monetize network values and stand out from competitors."

Matt Eastwood, Senior Vice President of IDC, delivered a speech on the topic of "Digital Transformation and Its Impact of Scale and Automation". He stated that carriers should plan and build future target networks based on the key architecture index (KAI) model to prepare for industry digital transformation.

Embracing F5G, Fiber is Gold Future

Richard Jin, President of Huawei’s Transmission and Access Network Product Line, said: "Fiber is gold. Fiber is future. Fiber to everywhere. Optical connectivity underpins optimal service experience. Huawei’s AirPON solution helps mobile carriers efficiently build FTTH networks to deploy ubiquitous optical connections. eAI ONTs and OLTs  with distributed intelligence increases carriers’ revenues and reduce churn rate by ensuring optimal E2E experience of home services. OTN premium private line solution improves the quality of connectivity for many enterprises with premium networking and cloud services, and helps the carriers to better address enterprise market."

Lv Pin, Vice President of China Telecom Anhui, shared some use cases of premium Wi-Fi and e-guarding for smart homes. Meanwhile, Cai Weiwen, Board Director and Vice President of China Mobile Guangdong, shared all-optical innovations and commercial use cases of Cloud VR, optics TV (OTV), OTN premium private networks, and 5G services for high-speed trains. These technologies combine to build a better communication platform for the Guangdong-Hong Kong-Macao Greater Bay Area.

All-service intelligent IP network with guaranteed SLAs

IP networks are at the heart of the 5G and cloud era and need to support high-quality all-service transmission. Kevin Hu, President of Huawei’s Data Communication Product Line, said: "In the 5G and cloud era, the IP network needs to achieve high bandwidth and availability, going beyond the best-effort consumer transport network to become a production transport network with guaranteed SLAs. Accordingly, Huawei is launching NetEngine 8000 series routers designed for an IP network featuring ultra-broadband, intelligent connectivity and O&M. This will meet the 5G service requirements during enterprise cloudification, thereby boosting the business growth of carriers."

Luo Rui, Vice President of China Telecom Ningxia, spoke about applying Huawei’s intelligent IP private line solution into FIRST private networks for government, healthcare, and education users, implementing seamless connection between high-quality networks and clouds. Faruk Ekici, Head of Turkcell’s Transport Network Planning, talked about the construction of a converged and programmable 5G-ready IP transport network, and looked into further leadership with next-generation IP technologies.

iMaster NCE accelerating FBB network autonomy for agile business

We are heading to a fully connected, intelligent world. Network automation and intelligence are indispensable for premium experience and all-service transmission. David Lu, President of Huawei’s General Development Dept, pointed out that: "Autonomous networks are highly recognized by the standards agencies and the goal for carriers’ transformation. Huawei iMaster NCE, an FBB-oriented intelligent management and control system, focuses on 5G and F5G value scenarios and gradually implements automatic, self-healing, and self-optimized autonomous networks. iMaster NCE guarantees optimal SLA before, during, and after sales. Furthermore, it utilizes AI and big data technologies to implement proactive O&M, which translates into higher O&M efficiency and better network operation quality."

Premium networks open up brand new opportunities for carriers. Let’s work together to seize these opportunities, and create a better digital world that delivers value for all.

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Red Box Fuels AI-powered Insights Through Integration with Salesforce Einstein Call Coaching on Salesforce AppExchange

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LONDON and NEW YORK, July 30, 2020 — Red Box, a leading platform for voice, today announces Red Box AI Bridge for Salesforce Einstein on Salesforce AppExchange, the world’s leading enterprise cloud marketplace. Red Box AI Bridge enables organisations not utilising a Salesforce-embedded communication platform to capture high quality call and metadata from their existing telephony or contact centre platform. This voice data is then made easily available to Einstein Call Coaching for AI-powered insights that drive sales performance improvements.

Einstein Call Coaching for High Velocity Sales was introduced at Dreamforce last year and is part of Salesforce’s 2020 Summer release. It helps managers more effectively coach individuals, and scale learnings across teams, as well as gain deeper insights into customer needs and experiences. 

"The breadth of Red Box’s connectivity to support voice capture from any platform, coupled with our ability to capture ‘AI-Ready’ call audio, makes AI-enabled speech analytics a logical next step in our integration with Salesforce," add Pete Ellis, Red Box CPO. "We look forward to empowering customers with transformative sales performance outcomes."

This Red Box AI Bridge for Salesforce Einstein is now available here on Salesforce AppExchange, alongside its Voice Data Controller application that enables the mapping of all conversations taking place across a business to contacts, accounts and leads records within Salesforce.

Salesforce, AppExchange and others are among the trademarks of salesforce.com, inc.

About Red Box

Red Box is the leading dedicated voice specialist, empowering organisations to capture, secure and unlock the value of enterprise wide voice. With the most open and connected platform, we capture and transcribe voice communications from over 85 systems (legacy and new), across global enterprises and SMEs. Our customers retain complete data sovereignty and we connect them to the broadest partner ecosystem to maximise the value of captured voice data. 

Working with our global reseller channel, we are trusted by leading organisations across financial, contact centre, government and public safety sectors (including six of the world’s top banks, 85% of global interdealer brokers, 1,700 call centres and over 80% of UK police forces) and we capture and secure millions of calls daily for over 3,500 customers around the world.

For more information visit www.redboxvoice.com

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Performing live on Kuaishou, Lang Lang comes back after 6-month hiatus

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BEIJING, Jul 30, 2020 — The world-renowned Chinese pianist Lang Lang performed publicly for the first time in six months on Kuaishou, a livestreaming platform. Lang hosted the one-hour broadcast, which attracted over 3 million viewers and fans.

Entertaining the crowd with a mix of songs, stories and games, Lang, China’s badminton Olympic champion Cai Yun, and the popular Queen of Nine-ball Pan Xiaoting also guest-starred on the show. The trio reminisced about the games they played during their childhood, starting from the 80s all the way to the 2000s, and also showcased their skills through sport and music challenges.

Classical music superstar Lang Lang participated in a livestreaming session on Kuaishou, a short-video and livestreaming platform on Tuesday.
Classical music superstar Lang Lang participated in a livestreaming session on Kuaishou, a short-video and livestreaming platform on Tuesday.

 

When recalling his childhood in the 90s, Lang played one of his initiation-phase favorites, Étude Op. 10, No. 5 in G♭ major by Frédéric Chopin, wowing the online audience.

 

 

Lang Lang: Étude Op. 10, No. 5 in G♭ major (Frédéric Chopin)/ 1994 Mix 2020 Live on Kuaishou

This isn’t the first livestream hosted by Lang, as his last livestream, also on Kuaishou, was a Valentine special held earlier this year in honor of supporting efforts against COVID-19.

Hosted by Kuaishou, Lang’s livestream attracted mainstream success, with over 3 million tuning in and participating through the comments and gifts. The popularity of such shows has shown that the shift in momentum to livestream apps such as Kuaishou is here to stay. With more crossover content such as Lang’s show, Kuaishou is pioneering a new wave of viral content to make livestreaming more prevalent in popular culture.

“By uniting fanbases and fostering more communication, Kuaishou aims to build resilient communities across genres and backgrounds,” said Yan Qiang, senior vice-president of Kuaishou.

About Kuaishou Technology

Kuaishou Technology develops content sharing platforms and makes content production, distribution and consumption fast and easy. Our content recommendation system is built on a deep understanding of our users and the content being shared on our platforms every day.

Our flagship product, Kuaishou, is China’s leading short video sharing and social networking platform that enables users to capture the unique and memorable moments of their everyday lives, and to interact with followers in real-time. Our technology offers users a highly personalized experience and encourages members from all communities to create and discover interesting and dynamic content.

Founded in 2011, Kuaishou Technology is headquartered in Beijing with more than 10,000 employees and offices in China, the United States, India and Brazil. Our notable investors include DCM Ventures, Morningside Venture Capital, Sequoia Capital, Temasek Holdings, Tencent and Baidu. For more information, please visit www.kuaishou.com.

  • March 2011 GIF Kuaishou was created as a product tool for creating animated GIFs
  • October 2013 GIF Kuaishou was transformed into a short-form video social platform – Kuaishou
  • January 2015 Kuaishou’s DAU (daily active user) exceeded 10 million
  • September 2017 Kuaishou’s total users exceeded 600 million and DAU exceeded 80 million
  • December 2017 Kuaishou’s DAU exceeded 100 million
  • June 2018 Kuaishou Technology completed the acquisition of Acfun, an ACG video community
  • May 2019 Kuaishou’s DAU exceeded 200 million
  • March 2020 Kuaishou’s DAU exceeded 300 million
  • July 2020 Kuaishou’s Livestream DAU surpassed 170 million

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