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PR Newswire

Color Star Technology Announces Management Change to Strengthen Leadership and Better Positioned to Implement its Business Plan

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NEW YORK, July 18, 2020 — Color Star Technology Co., Ltd. (Nasdaq CM: HHT) (the “Company”, “we” or “HHT”), a company engaged in the business of providing innovative education services, announced the resignation of Yang (Sean) Liu as CEO and chairman of the board of directors and the appointment of Mr. Biao (Luke) Lu as his successor on July 17, 2020.  Under Mr. Liu’s leadership, the Company successfully completed its transition to an innovative education service provider. Given Mr. Liu’s professionalism in Information Technology development and management, he will redirect his focus to act as the Company’s Vice President of Technology and be in charge of the development of the software and technology related to our “Color World” platform. The Board is pleased to announce that Mr. Biao (Luke) Lu has been appointed as CEO and Chairman of the Board to further implement the Company’s business plan. Such management change is due to the Company’s development layout in an effort to make full preparations for the “Color World” platform to be launched soon.

Mr. Lu is a famous film producer and agent in China and has been in the entertainment industry for 25 years. He started engaging in film and TV drama production at China Central Television (CCTV) in 1997. From 2005 to 2017, he served as CEO of “Dongxing Time International Culture” where he expanded the global artist brokerage business and signed many famous artists in Asia. In 2017, he joined “Hong Kong War Tiger Pictures” as its CEO where he invested in and produced many popular films such as “Ocean Paradise,” “Happy Bureau,” “Stalker,” “I want to be rich,” “Transformation Group,” and “Lifetime with You,” etc. At the same time, he also participated in the production of many artists’ records, concerts and a variety of shows.

The online education platform “Color World” created by Color Star is very different from other traditional education platforms. The instructors are well-known stars or producers. The students will learn from those instructors and benefit from their professional experience and knowledge, and they will offer our students more practical guidance. Therefore, Mr. Lu’s leadership will bring his 25 years of entertainment and management experience to Color Star, so that the Company will be able to attract more artists to join as its instructors. Mr. Lu will lead the sales of artists’ peripheral products and interactive videos of artists on the “Color World” platform, a unique addition to the platform and a boost to the company’s sales and revenue.

This management change will maximize the team’s expertise and experience. In the future, Color Star intends to set up offline bases in the United States and a number of countries in Asia to achieve a sophisticated combination of online and offline education mode in an endeavor to bring a new music and entertainment education experience to millions of students worldwide.

About Color Star Technology Co., Ltd.

Color Star Technology, is a holding company whose primary business is offering both online and offline innovative education services. Its business operations are conducted through its wholly-owned subsidiaries Color China Entertainment Ltd. and CACM Group NY, Inc. The Company also anticipates providing an after-school tutoring program in New York via its joint venture entity Baytao LLC, and providing online music and entertainment education via a platform branded “Color World.”

Forward-Looking Statements

Certain statements made herein are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include the business plans, objectives, expectations and intentions of the parties following the completion of the acquisition, and HHT’s estimated and future results of operations, business strategies, competitive position, industry environment and potential growth opportunities. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, our actual results may differ materially from our expectations or projections. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: there is uncertainty about the spread of the COVID-19 virus and the impact it will have on HHT’s operations, the demand for the HHT’s products and services, global supply chains and economic activity in general. These and other risks and uncertainties are detailed in the other public filings with the Securities and Exchange Commission (the “SEC”) by HHT. Additional information concerning these and other factors that may impact our expectations and projections will be found in our periodic filings with the SEC, including our Annual Report on Form 20-F for the fiscal year ended June 30, 2019. HHT’s SEC filings are available publicly on the SEC’s website at www.sec.gov. HHT disclaims any obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise.

Color Star Technology Co., Ltd.
Contact: Investor Relations
FinancialBuzzIR™
info@FinancialBuzzIR.com
Tele: +1-877-601-1879

PR Newswire

In less than three months, realme breaks into smart personal audio market in India with third spot in Q1 2020, according to Canalys

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SHENZHEN, China, July 17, 2020 — In less than three months since offering its AIoT products, realme has been confirmed as a market leader in the smart personal audio category in the Indian market for Q1 2020. According to Canalys, a research firm, realme secured a commanding third place with 10% market share, an achievement for a new entrant amidst a global pandemic.

realme breaks into smart personal audio market in India with the third spot in Q1 2020, according to Canalys
realme breaks into smart personal audio market in India with the third spot in Q1 2020, according to Canalys

 

Latest Canalys estimates show that shipments of smart personal audio devices in Asia Pacific, not including Greater China, grew 61% year on year to reach 16 million units in Q1 2020. Asia Pacific has surpassed Europe to be the third largest regional market in the smart personal audio category. The region now accounts for 21.1% of global shipments and demand is set to grow further, due to the increase in demand for smart phones in growing economies.

In discussing about the results, realme noted that there was an opportunity as key players globally were not fast enough to adapt to growing consumer needs. realme revealed that the majority of its consumers are youths and young professionals, who value form as much as function. “This means we have to deliver on both fronts to meet our customers’ needs”, says Xu Qi, realme’s Global Marketing President.

realme’s tech-trendsetting range of products incorporate the best in both design and technology. The Buds Q earpieces were designed by José Lévy, who has worked with brands such as Hermes. realme’s world-class design studio has attracted top designers wordwide such as Naoto Fukasawa, Jose Levy and more. realme plans to bring more designers from the US, Japan, Korea and Europe to infuse their works through realme products for a global audience.

The smart audio market is a fast-evolving market, with new features such as 5G and AIoT being experimented with in new products. As such products become cheaper and more reliable, consumers are becoming open to relying on technology for their daily needs. “Accounting for more than half the market, wireless earphones are the most popular category in India, with all the top five players, including smartphone vendors Samsung, Realme and Xiaomi, shipping more wireless earphones than any other category in Q1,” said Canalys Analyst Madhumita Chaudhary.

realme found success through deeply understanding their customers and being responsive to their needs. Recently, realme broke the record in selling smart TVs in India – they sold 15,000 smart TVs in just 10 minutes. realme has also announced their plan to release more than 50 AIoT products by the end of 2020 and more than 100 in 2021, to a global audience of more than 50 different countries and regions. With a strong lineup of products and a deep understanding of its markets and consumers, realme has ambitious aims to be the leader for consumer AIoT products on a global scale.

About realme

realme is a technology brand that provide superior quality and trendsetting smartphones and AIoT products to the global market. realme users are young, ambitious and globally minded. realme products empower these people to ‘Dare to Leap’ using the latest in technology and design.

realme is the seventh top smartphone brand in the world and was recognized as one of the mainstream smartphone brands according to Counterpoint’s statistics of global smartphone shipments in Q3 2019. In 2019, realme’s global smartphone shipments reached 25 million with a YoY growth rate of 808%, making realme the fastest-growing smartphone brand in the world. realme has entered 59 markets worldwide, including China, Sountheast Asia, South Asia, Europe, Russia, Australia, Middle East, Africa with global user base of over 35 million.

www.realme.com

 
PR Newswire

Chinese short-video giant Kuaishou reaches partnership with Formula E

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BEIJING, July 17, 2020 — Tencent-backed Chinese short video platform Kuaishou has announced the agreement of a "strategic alliance" with Formula E, the FIA-backed single-seater motorsport championship.

The agreement will see Kuaishou take on several designations, including Formula E’s exclusive short-video content partner, exclusive live streaming short-video platform, and official promotional partner.

Kuaishou is China’s leading short video platform with over 300 million daily active users browsing a user-generated content archive of over 20 billion videos, according to the data announced by the company in January 2020.

Under the collaboration with Formula E, more exclusive content including race highlights, behind-the-scenes footage and driver profiles will be created on Kuaishou.

Kuaishou and Formula E said they will also be exploring jointly-created events, live streams, and the use of ‘multi-channel networks’ to attract a broader audience to the race series.

"We are glad to establish such win-win strategic cooperation with Formula E and looking forward to see Kuaishou’s coverage and penetration in China to effectively help global IPs such as Formula E to expand their brand influence in China," said Yan Qiang, senior vice-president of Kuaishou.

The video archive of the Kuaishou app has 35 categories of sports content, including basketball, football, table tennis, motorsport, as well as activities such as fishing, skateboarding and parkour. There are over 40,000 high-quality sports video creators and more than 1.2 billion sports activity browsers on the platform.

Chinese short-video giant Kuaishou reaches partnership with Formula E
Chinese short-video giant Kuaishou reaches partnership with Formula E

"We hope that this collaboration with Kuaishou can push forward the domestication process of Formula E in China, not to mention the development of the Chinese racing culture," said Elms Wang, CEO of Enova Holdings, the exclusive organizer of Formula E in China.

Enova Holdings has the right to commercialize all rights relating to Formula E in Greater China, including sponsorship, ticketing, media rights, hospitality, gaming, and live performances and shows.

The 2019-20 Formula E season, which was cut short due to the Covid-19 pandemic, had two Chinese racing teams, NIO 333 FE Team and DS Techeetah; one Chinese driver, Ma Qinghua, racing for NIO 333 FE Team; and a Chinese Grand Prix, the Sanya ePrix, which was set for March 21 before it was canceled due to Covid-19.

About Kuaishou Technology

Kuaishou Technology, headquartered in Beijing, China, runs Kuaishou, one of the world’s leading short video social platforms since 2011, boasting more than 300 million daily active users so far. Users can use the platform to create and share videos with friends and their communities through posts, likes and comments. Known for its active and vibrant community with more than 20 billion daily views, the app is available on iOS and Android.

PR Newswire

PUBG Mobile Teams up With Direct Relief for COVID-19 Global Emergency Response

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Blockbuster mobile game PUBG MOBILE is launching social responsibility campaign “Play As One” with in-game challenge and community fundraiser to support the humanitarian aid organization Direct Relief on the COVID-19 global response project

LOS ANGELES, July 17, 2020 — PUBG MOBILE, the worldwide popular mobile game, has partnered with Direct Relief, the humanitarian aid organization, in responding to the COVID-19 pandemic by supplying medical aid to frontline healthcare workers. Starting today, the #PUBGMPlayAsOne campaign is launched with the PUBG MOBILE in-game challenge and community fundraiser for individual players to support and participate and directly in Direct Relief‘s COVID-19 response.

PUBG Mobile Teams up With Direct Relief for COVID-19 Global Emergency Response
PUBG Mobile Teams up With Direct Relief for COVID-19 Global Emergency Response

Under the global pandemic situation, with the “play for good” initiative of bringing positive impact on society and helping more people, PUBG MOBILE is taking the social responsibility in a worldwide brand perspective and encouraging community members to contribute their own efforts, moreover, in gamer’s way. The campaign is calling out a slogan of “Play As One” to encourage the 600 million PUBG MOBILE players worldwide to team up and play for the same goal for one world, facing the global challenge together.

Starting with the official effort in game, PUBG MOBILE launches the in-game “Running Challenge For Donation” event from July 15 to 28 to engage all players for support. Players’ sprinting distance in-game will be added to the server milestone corresponding to a dollar donation by PUBG MOBILE. A server-wide milestone tracker starting with PUBG MOBILE‘s official donation of $1 million USD, will be increasing incrementally as players running more distance in game. The final amount of donation is to be revealed once reaching the final server-wide milestones.

Besides an in-game event offering official donations, PUBG MOBILE and Direct Relief have developed the dedicated channel here for community members to support the fundraiser by making their voluntary donations. All donations will directly contribute to support Direct Relief‘s emergency response to COVID-19 around the world.

Through the shared love of games, PUBG MOBILE enables the connection with players worldwide and supports the society in the gaming ways. Today’s #PUBGMPlayAsOne campaign is another meaningful effort following the previous #ChickenDinnerAtHome campaign launched during the earlier pandemic period, which encouraged all PUBG MOBILE players to safeguard their health by staying in the safe zone and enjoying chicken dinner at home. By supporting WHO‘s global #PlayApartTogether movement among the games industry, PUBG MOBILE encourages all community members to show team spirit by continuing to enjoy the game in a fun and healthy way.

Players can now support the #PUBGMPlayAsOne campaign by playing in game and can donate directly to Direct Relief at www.directrelief.org/pubgmobile.

Join PUBG MOBILE and Direct Relief in the vital fight to protect the lives of healthcare workers on the frontline, and our friends and communities across the world.

About Direct Relief

Direct Relief is a humanitarian aid organization with a mission to improve the health and lives of people affected by poverty or emergencies — without regard to politics, religion or ability to pay. Direct Relief is responding to COVID-19 globally by providing personal protective equipment (PPE) for health workers; building a medication stockpile to assist with anticipated spike in ICU patients; and boosting support to safety-net facilities to address existing chronic gaps that are likely to grow.

Since January 2020, Direct Relief has rapidly deployed medical aid to support health workers during the COVID-19 pandemic.

For more detail on Direct Relief‘s response around the world, click here.

ABOUT PUBG MOBILE

PUBG MOBILE is based on PLAYERUNKNOWN’S BATTLEGROUNDS, the phenomenon that took the world of interactive entertainment by storm in 2017. Up to 100 players parachute onto a remote island to battle in a winner-takes-all showdown. Players must locate and scavenge their own weapons, vehicles and supplies, and defeat every player in a visually and tactically rich battleground that forces players into a shrinking play zone.

For more information, please visit the official PUBG MOBILE accounts on Facebook, Twitter and YouTube.

PUBG MOBILE is available to download for free on the App Store and Google Play. 

Photo – https://photos.prnasia.com/prnh/20200717/2860827-1?lang=0

PR Newswire

ZTE and Omdia co-host a global 5G SA webinar

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SHENZHEN, China, July 17, 2020 — ZTE Corporation (0763.HK / 000063.SZ), a major international provider of telecommunications, enterprise and consumer technology solutions for the Mobile Internet, today announced that it has hosted a live-streaming global 5G SA webinar in partnership with Omdia, a global leading technology research powerhouse.

At this webinar, experts from Omdia and ZTE have shared their insights on the global industry trends of 5G SA, and explored the various 5G SA deployment practices in China.

“56% of telecommunications service providers are preparing to deploy 5G core networks and 5G SA networks in the next 24 months,” said Dario Talmesio, Research Director of Service Providers Strategy at Omdia. “For that, China provides important learning opportunities from real-life implementations, as Chinese telcos are pioneering in 5G SA now.”

Jason Tu, Principle Scientist of NFV/SDN Products at ZTE, has elaborated the benefits of deploying 5G SA networks as well. “NSA/SA dual-mode terminals are now very popular in the market. The large -scale deployments of 5G SA networks in Chinese market have successfully verified the 5G SA end-to-end solutions,” said Jason.

“As the target architecture of 5G networks, 5G SA networks will help operators open a new 2B market. By selling different SLA-guaranteed network slicing to vertical industries, operators will obtain a new revenue source,” Jason added. He believed that speeding up the evolution to SA networks and even hopping directly to them seems to be a reasonable option now.

“With extensive experience in deploying 5G SA solutions in China, Asia and Europe, ZTE is well positioned to work with global operators and provide them with 5G common Core, SA radio networks or hybrid SA/NSA radio networks,” said Alex Wang, Managing Director of 5G RAN Solutions at ZTE.

ZTE has increased the coverage and capacity of 5G SA networks through FAST (FDD Assisted Super TDD), and has further enhanced the capability by virtue of low latency, mobile edge computing, network slicing and network sharing, according to Alex Wang.

ZTE is a provider of advanced telecommunications systems, mobile devices and enterprise technology solutions to consumers, operators, companies and public sector customers. The company has been committed to providing customers with integrated end-to-end innovations to deliver excellence and value as the telecommunications and information technology sectors converge. Listed in the stock exchanges of Hong Kong and Shenzhen (H share stock code: 0763.HK / A share stock code: 000063.SZ), ZTE sells its products and services in more than 160 countries. 

Media Contacts:

Margaret Ma
ZTE Corporation
Tel: +86 755 26775189
Email: ma.gaili@zte.com.cn 

Related Links :

http://www.zte.com.cn
PR Newswire

Virtual Private Network Proxy Master Turns Slow Streaming into a Thing of the Past with the Release of its Fastest-Ever Virtual Private Network Service

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Lemon Clove unveils next-gen Virtual Private Network service with speeds up to 118 Mbps, for more secure, faster browsing and increased productivity for offices.

SINGAPORE, July 17, 2020 – During the circuit breaker, people are not able to travel, but they can travel virtually with access to content across the world using Virtual Private Network Proxy Master – at lightning speed. With internet users at an all-time high due to COVID-19, internet security has been critically undermined, despite a rise in demand for streaming services. To meet this demand, Singapore-based Virtual Private Network Proxy Master recently launched its latest update with a new customer support feature to enhance the streaming and browsing experience, keeping customer and user data security for millions across the region.

The service will be offered for free on singular devices with no need to register, while premium users can connect up to 5 devices simultaneously.

Greater Browsing Opportunities

Challenging times often unveil unique businesses who can offer real solutions to the greater public. Virtual Private Network Proxy Master is a free-to-use virtual private network server that acts to mask IP addresses to help the average internet user bypass firewalls and access content. 

The free Virtual Private Network service allows for unlimited streaming regardless of location. Users can enjoy renewed access to international film, television, and gaming content without their IP address being tracked or sold for marketing purposes. For example, city-state internet users can pose online as accessing sites and content from another country.

Run singlehandedly by Singapore-based company Lemon Clove, the highly acclaimed Virtual Private Network service has served the needs of over 150 million users in 137 countries to date. Boasting unlimited speed and high encryption bandwidth, this is done through rerouting a user’s internet connection across 6000 fast servers in 40 locations around the world. 

The Hidden Benefits of Virtual Private Network 

Perhaps a lesser-known benefit of a Virtual Private Network is that it protects internet users from vulnerabilities in public WIFI network connections, such as malware, hacking and viruses. The last thing a user needs during a cliff-hanging action scene is the blinking pop-up reminding them of that shopping cart they laid to rest a month ago. 

For businesses, there are additional benefits, with secured browsing, including the freedom to access online resources and secure financial, user customer and business partner data – Adding an extra layer of security to business partnerships.

With privacy hanging onto a thin thread in the digital space, the lesser the footprint, the more one can navigate in the World Wide Web. This benefit is doubled when using a Virtual Private Network that can potentially unlock geo-restricted content, protect users’ identity, and speed up streaming all at once. By masking IP addresses, users can also avoid unnecessary price hikes by global e-commerce and online booking platforms which charge based on location. 

Secured with Kill Switch, DNS Leak Protection, IP Address Leak Protection, no-log function and AES256 encryption – Virtual Private Network Proxy Master guarantees a safe and secure environment even with public Wi-Fi networks. For users who heavily rely on such services, the product offers a paid-for VIP premium version which allows connection to up to 5 devices simultaneously. This is compatible with iOS, Android (Only Virtual Private Network Proxy Master Pro), Windows and macOS.

Partnership With Codashop

Parent company Lemon Clove has also recently partnered with Singapore-based company Codashop, a gaming and entertainment top-up platform. Codashop is one of the largest and most trusted top-up websites for games and online entertainment in Asia and beyond. Targeting the million-dollar gaming market in Singapore, local gamers can now rejoice at increased access in the gaming world coupled with reduced lag and pings.

Virtual Private Network Proxy Master is listed under the General Data Protection Regulation (GDPR EU) and protected under the Personal Data Protection Act (PDPC Singapore).

About Virtual Private Network Proxy Master

Virtual Private Network Proxy Master is one of many cutting-edge Virtual Private Network brands under parent company Lemon Clove. Virtual Private Network Proxy Master is using the industry-leading AES256 encryption method which provides a secure tunnel between users’ devices and the internet to protect online privacy and security. Virtual Private Network Proxy Master is compatible with iOS, Android (Only Virtual Private Network Proxy Master Pro), Windows and macOS.

Download V(irtual) P(rivate) N(etwork) Proxy Master on AppStore, Google Play, macOS, Windows and Chrome! For more information, please email business@inconnecting.com.

PR Newswire

Ericsson Reports Second Quarter Results 2020

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STOCKHOLM, July 17, 2020 —

Second quarter highlights           

  • Sales were SEK 55.6 (54.8) b. Sales adjusted for comparable units and currency were flat YoY.           
  • Gross margin excluding restructuring charges improved to 38.2% (36.7%), including the earlier communicated inventory write-down related to Mainland China (SEK -0.9 b., which equals to -1.6 percentage points).           
  • Operating income excluding restructuring charges improved to SEK 4.5 b. (8.2% operating margin) from SEK 3.9 b. (7.0% operating margin) driven by improvements in segment Digital Services.            
  • Networks sales[1] increased by 4% YoY. Networks operating margin excluding restructuring charges  was 14.1% (15.0%) impacted by strategic contracts and the inventory write-down, partly compensated by operational leverage and a favorable business mix.            
  • Digital Services operating income excluding restructuring charges was SEK -0.7 (-1.3) b. Gross margin improved driven mainly by higher software sales while sales1 declined by -5%.            
  • Net income was SEK 2.6 (1.8) b.            
  • Free cash flow before M&A was SEK 3.2 (1.6) b. Net cash June 30, 2020, was SEK 37.5 (33.8) b.           
  • The Covid-19 pandemic had a limited impact on operating income and cash flow in the quarter.

1 Adjusted for comparable units and currency.

Planning assumptions highlights (please see the quarterly report for complete planning assumptions)           

  • With current visibility Group financial targets for 2020 and 2022 are maintained.           
  • R&D investments in Digital Services are accelerated to capture additional business opportunities. In combination with lower sales, this will likely cause a delay of some quarters in reaching the 2020 financial target. 2022 operating margin target of 10-12% remains firm.

                                   

                                   

SEK b.

                                   

Q2
2020

                                   

Q2
2019

                                   

YoY
change

                                   

Q1
2020

                                   

QoQ
change

                                   

Jan-Jun
2020

                                   

Jan-Jun
2019

                                   

 

YoY
change                       

                                   

Net sales

 

55.6

 

54.8

 

1%

 

49.8

 

12%

 

105.3

 

103.7

 

 

2%

Sales growth adj. for comparable units and currency                        

Gross margin 

–

37.6%

–

36.6%

0%

–

 

39.8%

 

–

 

38.6%

 

37.5%

-1%

–

Operating income                            

Operating margin 

3.9

6.9%

3.7

6.8%

3%

–

4.3

8.7%

-11%

–

8.2

7.7%

8.6

8.3%

-6%

–

                                   

Net income 

 

2.6

 

1.8

 

40%

 

2.3

 

13%

 

4.9

 

4.3

 

14%

                                   


Measures excl. restructuring charges and other items affecting comparability1

                                   

Gross margin excluding restructuring charges 

 

38.2%

 

36.7%

 

–

 

40.4%

 

–

 

39.3%

 

37.5%

 

–

                                   

Operating income excl. restr. charges & items affecting comparability in 20192 

 

4.5

 

3.9

 

18%

 

4.6

 

-2%

 

9.1

 

7.4

 

 

24%

                                   

Operating margin excl. restr. charges & items affecting comparability in 20192 

 

8.2%

 

7.0%

 

–

 

9.3%

 

–

 

8.7%

 

7.1%

 

–

                                   

Free cash flow before M&A 

 

3.2

 

1.6

 

102%

 

2.3

 

40%

 

5.6

 

5.1

 

10%

                                   

Net cash, end of period 

 

37.5

 

33.8

 

11%

 

38.4

 

-2%

 

37.5

 

33.8

 

11%

1 Non-IFRS financial measures are reconciled to the most directly reconcilable line items in the financial statements at the end of this report.

2 Excludes restructuring charges in all periods. No other adjustments made in 2020. Jan-Jun 2019 excludes a capital gain related to the divestment of 51% of MediaKind (SEK 0.7 b.), divestment of certain assets in Red Bee Media (SEK 0.1 b.) and a reversal of an earlier provision for impairment of trade receivables following customer payment (SEK 0.7 b.).

Comments from Borje Ekholm, President and CEO of Ericsson (NASDAQ:ERIC)

The human toll caused by Covid-19, directly and indirectly through a weak economy, is increasingly clear. We continue to put safety of our people as first priority, and more than 80% of our employees are currently working from home. Despite the difficult environment we delivered a solid result. Q2 organic1 sales were flat and gross margin[2] improved to 38.2% (36.7%) YoY, including negative effects from strategic contracts. Free cash flow before M&A improved to SEK 3.2 (1.6) b. While the effects of Covid-19 create uncertainties, with current visibility we maintain the full-year targets for the Group.

Networks grew by 4% organically1 and the gross margin[2] was 40.5% (41.4%), absorbing a larger share of strategic contracts including 5G volumes in Mainland China where we also took an inventory write-down. The strengthened market position in Mainland China is strategically important as this market is expected to be a driver of critical future requirements and provide us with important scale. The Chinese 5G contracts are expected to be profitable over the life cycle, but had a negative contribution to gross margin in Q2.  

Investments in R&D have established us as a leader in 5G, with proven performance and cost of ownership benefits for our customers. We have continued to increase our market share in several markets by leveraging our competitive product portfolio. Profitability in earlier awarded strategic contracts has improved according to plan. We consider strategic contracts to be a natural part of the business and we will stop our forward looking commentary unless there is an extraordinary impact.  

Digital Services continues to execute on its turnaround plan with continuous improvements in the underlying business, and a Q2 gross margin2 reaching 43.6% (37.1%), supported by increased software sales. Sales is being impacted by the declining legacy portfolio and Covid-19-related market uncertainty and we expect this negative impact to continue throughout the year. There is however a strong demand for our cloud-native and 5G portfolio, and we have recorded several important tier 1 customer wins in 5G Core that will generate revenues in 2021 and beyond. Encouraged by the success of our offering, we have decided to accelerate R&D investments. These investments have a positive long-term value but will result in increased R&D costs. We are for this reason, in combination with the lower sales, likely to see a delay of some quarters in reaching the 2020 target of low single-digit margin for Digital Services, however, we are staying firm on our 2022 operating margin2 target of 10-12%.

Our patent licensing business continues to perform well due to our strong IPR portfolio. Licensing agreements are often multi-year and term-based and renewals normally require negotiations, particularly in conjunction with introducing new standards such as 5G. Next year, certain agreements are up for renewal and royalty payments can be temporarily affected. The inclusion of 5G patents is expected to strengthen our IPR business further. 

At Ericsson, we are committed to conducting business responsibly and with integrity. We continue our efforts to strengthen and improve our Ethics and Compliance program. In the quarter, the three-year term of the monitorship under the resolution with the U.S. authorities started. We look forward to working together with the independent compliance monitor and to benefit from his extensive experience. We fully believe this will help us reach our ambitions.

As we prepare to exit the crisis caused by Covid-19, there is a need to restart economies and make strategic, forward looking investments which we suggest must include the future digital infrastructure. We see many regions around the world increasing investments in this space and as a European company we are concerned that Europe will fall behind. As critical national infrastructure, 5G will be a key determinant for long-term competitiveness of the general economy, and act as a stimulant to accelerate economic growth, attract future investments and speed up technology innovation. I believe Europe must prioritize actions to incentivize investments in the digital infrastructure, to include lowering the cost and speeding up the availability of spectrum.

We are ready to deliver on the promises of 5G, based on our strong 5G portfolio and a resilient balance sheet. We remain positive on the longer-term outlook. Some customers are accelerating their investments while others are temporarily cautious. With current visibility we maintain the Group targets for 2020 and 2022.  

Stay healthy and well.

Borje Ekholm

President and CEO
 

1 Sales adjusted for comparable units and currency
2 Excluding restructuring charges

NOTES TO EDITORS

You find the complete report with tables in the attached PDF or by following this link https://www.ericsson.com/assets/local/investors/documents/financial-reports-and-filings/interim-reports-archive/2020/6month20-en.pdf or on www.ericsson.com/investors

Conference call for analysts, investors and journalists

President and CEO Borje Ekholm and CFO Carl Mellander will comment on the report and take questions. The conference call will begin at 9:00 AM CEST (8:00 AM BST London, 3:00 AM EDT New York).

To join the conference call, please phone one of the following numbers:

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Please call in at least 15 minutes before the conference call starts.

A live audio webcast of the conference call will be available at www.ericsson.com/investors and https://www.ericsson.com/en/newsroom

A replay of the conference call will be available from about one hour after the conference call has ended until July 24, 2020.

Sweden replay number: +46 (0)8 519 993 85

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FOR FURTHER INFORMATION, PLEASE CONTACT

Contact person

Peter Nyquist, Head of Investor Relations
Phone: +46 10 714 64 99
E-mail: peter.nyquist@ericsson.com

Additional contacts

Stella Medlicott, Senior Vice President, Marketing and Corporate Relations
Phone: +46 10 713 65 39
E-mail: media.relations@ericsson.com

Investors

Lena Haggblom, Director, Investor Relations
Phone:  +46 10 713 27 78
E-mail:  lena.haggblom@ericsson.com

Stefan Jelvin, Director, Investor Relations
Phone: +46 10 714 20 39
E-mail: stefan.jelvin@ericsson.com

Rikard Tunedal, Director, Investor Relations
Phone: +46 10 714 54 00
E-mail: rikard.tunedal@ericsson.com

Media

Peter Olofsson, Head of Corporate Communications
Phone: +46 10 719 18 80
E-mail: media.relations@ericsson.com

Corporate Communications
Phone: +46 10 719 69 92
E-mail: media.relations@ericsson.com

This is information that Telefonaktiebolaget LM Ericsson is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 07:00 CEST on July 17, 2020.

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Ericsson second quarter report 2020
PR Newswire

Careershe is launched by JobForesight, the first Singapore-based startup from Oxford University incubator

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SINGAPORE, July 17, 2020 — JobForesight, a startup that provides comprehensive careers information for students, has become the first Singapore-based venture to emerge from Oxford University Innovation’s startup incubator and launched Careershe, a career advice app.

Careershe, whose flagship product is a smartphone app that offers structured and transparent content about different occupations, was founded by Singaporean Oxford MBA graduate Steve Xie.

Developed during Xie’s MBA at Saïd Business School and with the help of Oxford University Innovation (OUI) – the University’s technology transfer arm — the app is initially being aimed at students in China.

Xie said: ‘The problem we are trying to solve is the lack of information available for young people about the types of career they can pursue. We can help them better understand what it’s like to be a lawyer, or a blockchain engineer, or to work in AI. Careershe offers a one-stop shop for students who lack access to high-quality career guidance.’

According to a study by the higher education consultancy MyCOS, nearly a third of graduates in China leave their first job within the first six months — almost 2 million students yearly. The current lack of career education provision in China, and its transition towards high-value industries, made it the ideal market, in Xie’s view, for the Careershe app.

Xie, who completed a degree in electrical engineering at the National University of Singapore before joining the building materials industry, has drawn on personal experience for this venture. He said: ‘The biggest problem was that I did not have a clue about what an electrical engineer actually does until the later stages of my degree course. Had I known about the potential career outcomes, I would probably have taken a different academic direction altogether.’

Co-founder Eddie Chng, a Singaporean businessman who is the CEO of the security technology company DiSa Digital Safety Pte Ltd, said: ‘The main reason I invested into this idea is because I have seen the human capital growth that has taken place in Singapore since the 1990s. This is exactly what is happening now in China, except that people in China are even hungrier for growth and progression.’

Guangdong-based Careershe helps students aged between 15 and 25 learn more about the world of work, providing them with guidance in the available pathways towards their desired careers. Valuable content such as required qualifications, typical working hours, likely salaries, and career progression can be found in the app.

Xie added: ‘One notable feature of Careershe is our plan to embed big data and artificial intelligence technology in the product, which will help us provide better recommendations for our users. We currently have around 5,000 registered users, and the early feedback — particularly from teachers — has been positive.’

Chandra Sekar Ramanujan is a Senior Licensing and Ventures Manager at OUI, whose incubator identifies promising student or staff-led startups and helps them to market. Ramanujan said: ‘We are very much attracted to Steve’s vision for Careershe, as well as the thought and market research that has gone into developing the idea. We have supported Steve in validating his business model and connecting with Oxford University’s world-leading academic resources — notably in big data and AI. At this time we are particularly interested in promoting ventures and partnerships overseas.’

Careershe is the first overseas-based project arising from its software incubator in which OUI will take a shareholding stake. Having built the product, launched to market and gleaned insights from users over the past year, the company is now focused on raising funds from investors and seeking partnerships — for example, with schools in China.

Within China, Careershe is affiliated with the TusStar startup incubator programme. Xie said: ‘We are delighted to be working with TusStar, given the strong support it offers to startups and its widespread presence and connections throughout China, Singapore and the UK.’

Educational technology companies are well placed to support the emergence of online education solutions after COVID-19. Moreover, digitalization trends in the future of work are expected to accelerate given the recent proliferation of work from home. Xie added: ‘Careershe can be a beneficiary of these trends, as long as we continue to be nimble and ensure our career database stays relevant.’

The OUI startup incubator is led by Catherine Spence. The incubator is aimed at members and ex-members of the University of Oxford. Spence said: ‘The OUI startup incubator was set up to support non-traditional Oxford projects. Careershe certainly fits that mould — breaking new ground and bringing further diversity into our portfolio.’

Contact

Steve Xie
steve.xie@careershe.com

About Oxford University Innovation

Oxford University Innovation (OUI) supports innovation activities across all University Divisions, managing technology transfer and consulting activities, creating a world-leading innovation ecosystem with Oxford University at its heart.

OUI provides access to technology from Oxford researchers through intellectual property licensing, spinout company formation and creation of social enterprises, and to academic expertise through our Consulting Services team. The Investments and New Ventures team works closely with investors to secure seed and follow-on funding, with more than 400m Pound invested in the growing portfolio in 2018/19.

OUI’s Startup Incubator supports members and ex-members of the University who wish to start or grow entrepreneur-driven ventures that are not University spinouts, working collaboratively with the Oxford Foundry, Oxford Sciences Innovation and others.

Oxford University Innovation is the highest university patent filer in the UK and is ranked 1st in the UK for university spinouts, having created over 200 new companies since 2000. In the 2018/19 financial year OUI completed more than 60 licenses and consulting agreements every month. For updates on innovations from Oxford, follow Oxford University Innovation on LinkedIn and Twitter or subscribe at ouinnov.co/contact

About Careershe

Careershe is a smartphone app product of JobForesight Pte. Ltd. (Singapore), focused on helping students between age 15-25 years old to learn more about the world of work and guide them in major life decisions — E.g. choosing university degree majors. Bringing in latest international research in career development methodologies, JobForesight hopes to help Chinese students find their desired careers.

JobForesight strives to bridge the gap between academic and careers world by providing transparency to students on careers, so that students can make a better decision during the academic pathways. Our smartphone solution allows students to access regularly updated information (requirements, incomes, future potential etc.) on different careers.

We hope to reduce youth’s anxiety and dilemma but, most importantly, reduce the social cost of students leaving careers after a short stint and realizing that they wasted significant time and resources acquiring technical skills that they do not use in the future. Most importantly, by providing transparency across careers and making it accessible to all students regardless of their economic status, we hope to level the playing field from the haves and haves not and also give students a sense of purpose and reason on why they need to work hard in their education.

More information about can be also found on our website – https://www.careershe.com/en.html

PR Newswire

VPN Proxy Master Turns Slow Streaming into a Thing of the Past with the Release of its Fastest-Ever VPN Service

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Lemon Clove unveils next-gen VPN service with speeds up to 118 Mbps, for more secure, faster browsing and increased productivity for offices.

SINGAPORE, July 17, 2020 – During the circuit breaker, people are not able to travel, but they can travel virtually with access to content across the world using VPN Proxy Master – at lightning speed. With internet users at an all-time high due to COVID-19, internet security has been critically undermined, despite a rise in demand for streaming services. To meet this demand, Singapore-based VPN Proxy Master recently launched its latest update with a new customer support feature to enhance the streaming and browsing experience, keeping customer and user data security for millions across the region.

VPN Proxy Master Turns Slow Streaming into a Thing of the Past with the Release of its Fastest-Ever VPN Service
VPN Proxy Master Turns Slow Streaming into a Thing of the Past with the Release of its Fastest-Ever VPN Service

The service will be offered for free on singular devices with no need to register, while premium users can connect up to 5 devices simultaneously.

Greater Browsing Opportunities

Challenging times often unveil unique businesses who can offer real solutions to the greater public. VPN Proxy Master is a free-to-use virtual private network (VPN) server that acts to mask IP addresses to help the average internet user bypass firewalls and access content. 

The free VPN service allows for unlimited streaming regardless of location. Users can enjoy renewed access to international film, television, and gaming content without their IP address being tracked or sold for marketing purposes. For example, city-state internet users can pose online as accessing sites and content from another country.

Run singlehandedly by Singapore-based company Lemon Clove, the highly acclaimed VPN service has served the needs of over 150 million users in 137 countries to date. Boasting unlimited speed and high encryption bandwidth, this is done through rerouting a user’s internet connection across 6000 fast servers in 40 locations around the world. 

The Hidden Benefits of VPN 

Perhaps a lesser-known benefit of a VPN is that it protects internet users from vulnerabilities in public WIFI network connections, such as malware, hacking and viruses. The last thing a user needs during a cliff-hanging action scene is the blinking pop-up reminding them of that shopping cart they laid to rest a month ago. 

For businesses, there are additional benefits, with secured browsing, including the freedom to access online resources and secure financial, user customer and business partner data – Adding an extra layer of security to business partnerships.

With privacy hanging onto a thin thread in the digital space, the lesser the footprint, the more one can navigate in the World Wide Web. This benefit is doubled when using a VPN that can potentially unlock geo-restricted content, protect users’ identity, and speed up streaming all at once. By masking IP addresses, users can also avoid unnecessary price hikes by global e-commerce and online booking platforms which charge based on location. 

Secured with Kill Switch, DNS Leak Protection, IP Address Leak Protection, no-log function and AES256 encryption – VPN Proxy Master guarantees a safe and secure environment even with public Wi-Fi networks. For users who heavily rely on such services, the product offers a paid-for VIP premium version which allows connection to up to 5 devices simultaneously. This is compatible with iOS, Android (Only VPN Proxy Master Pro), Windows and macOS.

Partnership With Codashop

Parent company Lemon Clove has also recently partnered with Singapore-based company Codashop, a gaming and entertainment top-up platform. Codashop is one of the largest and most trusted top-up websites for games and online entertainment in Asia and beyond. Targeting the million-dollar gaming market in Singapore, local gamers can now rejoice at increased access in the gaming world coupled with reduced lag and pings.

VPN Proxy Master is listed under the General Data Protection Regulation (GDPR EU) and protected under the Personal Data Protection Act (PDPC Singapore). To learn more about this fast and free VPN service based in Singapore, click here www.vpnproxymaster.com

About VPN Proxy Master

VPN Proxy Master is one of many cutting-edge VPN brands under parent company Lemon Clove. VPN Proxy Master is using the industry-leading AES256 encryption method which provides a secure tunnel between users’ devices and the internet to protect online privacy and security. VPN Proxy Master is compatible with iOS, Android (Only VPN Proxy Master Pro), Windows and macOS.

Website: www.vpnproxymaster.com

Photo – https://photos.prnasia.com/prnh/20200716/2859612-1?lang=0

Related Links :

http://www.vpnproxymaster.com
PR Newswire

Cyient reports PAT at INR 814 Mn for the First Quarter FY 21; growth of 8.0% QoQ

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HYDERABAD, India, July 17, 2020 — Cyient (Estd: 1991, NSE: CYIENT), a global engineering and technology solutions company, today reported its consolidated financial results for the First quarter (Q1) of FY 2021 ending June 30, 2020.

Photo – https://mma.prnewswire.com/media/1215812/Cyient_Krishna_Bodanapu.jpg

Financial Highlights

–      Consolidated revenue at $130.6 Mn (INR 9,917 Mn); degrowth of 12.5% QoQ (in $ terms) and de-growth of 16.6% YoY (in $ terms) and degrowth of 7.6% QoQ (in INR terms) and de-growth of 8.9% YoY (in INR terms)

–      Services revenue at $112.2 Mn; de-growth of 15.2% QoQ (-14.3% in CC) and de-growth of 18.6% YoY

–      DLM revenue at $18.4 Mn; growth of 8.5% QoQ, and de-growth of 1.4% YoY

–      Free cash flow to EBITDA conversion at 138.1%

–      EBIT margin for services at 6.7%, down 283 bps QoQ

–      EBIT margin for DLM at -4.6%, down 410 bps QoQ

–      Profit After Tax at INR 814 Mn for the quarter; growth of 8.0% QoQ

Business Highlights

  • Update on deal wins – Hitachi Rail:
    • Signed an agreement with Hitachi Rail to deliver project engineering services and accelerate the evolution of its signalling technology
    • Cyient will develop and operate a Central Delivery Centre for Hitachi Rail in India, and a Regional Centre in the US
    • Will be responsible for delivering engineering services for Hitachi’s global signalling projects that use proprietary interlocking platforms
  • Update on collaboration with Microsoft
    • Cyient loT Edge Gateway 5400, the flagship product in the company’s family of loT gateways, is Microsoft Azure Certified for loT
    • Cyient’s loT Edge Gateway 5400 provides diverse connectivity and communication protocol options, advanced data processing, and edge analytics capabilities for remote asset monitoring and predictive maintenance solutions
  • Diversifying our customer base
    • We have added 25 new customers in Q1 FY21
  • Commissioning of the Hyderabad factory
    • The new DLM factory in Hyderabad has been commissioned. This is one of the most advanced electronics manufacturing facilities in India, underpinned by the latest technologies in factory automation, Industry 4.0 and supply chain management
    • Strategic advantage to be located in a manufacturing hub in terms of proximity to probable customers, managing supply chains and co-ordination with the design teams

Message from the Management 
Commenting on the results, Mr. Krishna Bodanapu, Managing Director and Chief Executive Officer, said "Q1 FY21 results were better than our expectations, where we recorded a revenue of $130.6 Mn which was lower by 11.6% QoQ and 15.1% YoY in constant currency.  Services business was lower by 14.3 % QoQ in constant currency. The DLM business grew by 8.5% QoQ. We expect traction from top clients to return post Q2. The EBIT margin is lower by 328bps QoQ mainly due to lower business volume which was somewhat offset by lower SG&A spend. We generated Free Cash Flow of INR 2,163 Mn which was higher by 101% QoQ.

This quarter we had some significant wins in both new business and existing clients. This will help us strengthen our revenue outlook in the coming quarters. This quarter we also made significant investments in strengthening our business through strategic partnerships and alliances. We partnered with Microsoft for industry 4.0 offerings. The partnership will allow us take IoT solutions faster to market with hardware and software that has been pre-tested and verified to work with Microsoft Azure IoT services. We also signed a partnership with Fore Optics for joint Go to Market on taking asset tracking offering to the market. As part of this partnership Fore Optics brings in its IP in supply chain analytics and Cyient its IP in asset tracking IoT. We further strengthened the management team with the addition of Felice Gray-Kemp as the Global General Counsel and Meenu Bagla as the Chief Marketing Officer. The new DLM factory in Hyderabad has been commissioned and I am happy to say that this is one of the most advanced electronics manufacturing facilities in India, underpinned by the latest technologies in factory automation, Industry 4.0 and supply chain management.

Our Outlook for Q2 is positive and we expect growth to return in all industries except Aerospace, which will de-grow further in Q2. For the year, we expect a de-growth in revenue in double digits. We will also reiterate that H2 margin will be back to the steady state margin of H1 of last year. This will continue to be underpinned by strong free cash flow generation and prudent Capex spend."

Commenting on the results, Mr. Ajay Aggarwal, President & CFO, said, "The revenue for Q1FY21 stood at $130.6 Mn (INR 9,917 Mn) with EBIT of INR 511 Mn and PAT of INR 814 Mn. Our rigor on cash collections, close engagement with customers and initiatives on cash conservation has yielded results with FCF generation of INR 2,163 Mn and FCF to EBITDA conversion of 138.1%.

With significant efforts spent on efficiencies and cost optimisation in the last financial year, our focus on cost reduction and profit improvement continued in Q1 and well set to show results in the coming quarters. We are positive on realising benefits of our sustained initiatives on collections, working capital cycles, payables and discretionary cost control in FY21. 

In the current turbulent times, it is very difficult to predict future with a reasonable certainty. We are cognizant of the dynamic situation we are in, and are working with extreme agility in making decisions and taking corrective actions to manage business scenarios with special focus on cash and costs.

We remain strongly focused on growth, improvement in operating efficiencies and cash generation and thus maximizing the value for our shareholders."

Business performance and outlook

Aerospace & Defense
Aerospace & Defence business unit witnessed a decline of 15.6% QoQ and 21.5% YoY. The services business from commercial aviation clients witnessed significant challenges across geographies. The defence business remained resilient and we expect the traction to continue through the year. The manufacturing business grew driven by new wins and stable defence accounts.

We expect to witness decline in Q2 driven by poor market demand for passenger travel. We are actively engaged with key clients to strengthen our relationship and retain our market share. We expect manufacturing business to witness strong growth through Q2. The digital offerings are seeing momentum in this vertical. We expect the demand to be driven by digital, defence and DLM in the near term.

Communications
Communications business unit witnessed a decline of 10.8% QoQ and growth of 0.6% YoY. The services business witnessed increased demand in key clients driven by demand for increased network bandwidth both from consumer & enterprise segments. Also, 5G rollouts across various geographies are gaining traction. However, closure on major programs, field access and new client acquisition remained a challenge.

We expect strong growth in Q2 driven by growth in key clients. 5G rollouts, wireless and fiber rollout, digital technologies will continue to drive growth through next few quarters.

Transportation
Transportation business unit witnessed a decline of 10.9% QoQ and 23.9% YoY, primarily driven by change in revenue complexion and lower momentum in one of our key clients. 

Our outlook for Q2 continues to remain positive driven by growth in key client accounts and new wins in mobility business. We expect momentum in signaling business to return through the quarter.

E&U
Energy and Utilities business unit witnessed a decline of 19.4% QoQ and 30.0% YoY driven by temporary stoppage in field work for the Utilities business and decline in demand for the manufacturing business.

We expect strong growth in Q2 driven by growth across services. We expect traction in Energy segment to return post Q2

Medtech and Healthcare
Medical technology and Healthcare business unit witnessed a growth of 18.2% QoQ and 32.7% YoY driven by growth in key client in the services business and manufacturing business.

Our outlook for Q2 stands positive driven by growth in key client in the manufacturing business. We expect growth in Covid related equipment’s like IVD and hospital equipment’s to drive growth through the quarter.

SIA (Semiconductor, Semiconductor, IoT and Analytics)
Semiconductor, IoT and Analytics business unit witnessed a growth of 15.6% QoQ and decline of 18.7% YoY. The growth was driven by growth in key clients in semiconductor as well as embedded automotive services. We also completed ASIC IC shipments for a high precision GPS chip leveraging our new test infrastructure in Europe. Asides this, our facilities in Leuven (Belgium) and Duisburg (Germany) will be fully equipped to perform test development for high volume production for complex analog mixed signal ASICs through the year.

We expect growth through Q2 driven by ramp up in new turnkey ASIC projects and IC shipments.

DLM (Design Led manufacturing)
Design Led manufacturing business unit witnessed a growth of 8.4% QoQ and decline of 1.4% YoY driven by growth across Aerospace and Medical segments. Our strong focus on inventory reduction through the quarter resulted in increased cash flow for the business.

We expect strong growth through Q2 driven by key clients in Aerospace & Defence and Medical segment. We will continue to focus on better inventory management and operational excellence to improve our cash position.

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

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

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

Follow news about the company at @Cyient.

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

Disclaimer

This document contains certain forward-looking statements on our future prospects. Although Cyient believes that expectations contained in these statements are reasonable, their nature involves a number of risks and uncertainties that may lead to different results. These forward-looking statements represent only the current expectations and beliefs, and the company provides no assurance that such expectations will prove correct.

All the references to Cyient’s financial results in this update pertain to the company’s consolidated operations comprising wholly-owned and Step-down subsidiaries Cyient Europe Limited; Cyient Inc.; Cyient GmbH; Cyient Australia Pty Ltd; Cyient Singapore Private Limited; Cyient KK; Cyient Israel India Limited; Cyient Insights Private Limited; Cyient Canada Inc.; Cyient Defense Services Inc.; Certon Software Inc.; Certon Instruments Inc.; B&F Design Inc.; New Technology Precision Machining Co. Inc.; Cyient Insights LLC; Cyient Benelux BV; Cyient Schweiz GmbH; Cyient SRO; AnSem NV; AnSem B.V.; Cyient AB; partly owned subsidiaries Cyient Solutions and Systems Private Limited; Cyient DLM Private Limited; joint venture Infotech HAL Ltd (HAL JV) & associate company Infotech Aerospace Services Inc. (IASI) until 8th December 2017.

The income statement and cash flow provided is in the internal MIS format. MIS format is different from the income statement published as part of the financial results, which is as per the statutory requirement.

 

 

Related Links :

http://www.cyient.com