31 C
Vientiane
Tuesday, April 29, 2025
spot_img
Home Blog Page 73

Moratelindo Selects Ribbon for Enhanced Submarine Network Capabilities

Advanced optical infrastructure delivers 20T capacity, automated management on 1,055 km JakartaSingapore link

PLANO, Texas, April 22, 2025 /PRNewswire/ — Ribbon Communications Inc. (Nasdaq: RBBN), a leading supplier of real-time communications technology and IP optical networking solutions, today announced that PT Mora Telematika Indonesia Tbk (“Moratelindo“) (IDX: MORA), one of Indonesia’s largest telecommunication infrastructure and network providers, through Ribbon’s local partner, has selected Ribbon’s cutting edge technology solutions to fulfill their growing requirements for reliable, high capacity connectivity and seamless, automated infrastructure management. Ribbon is dedicated to assisting the world’s largest service providers, enterprises and critical infrastructure operators in modernizing and safeguarding their networks and services.

“Ribbon’s innovative technology and track record were critical factors in our decision to work together,” said Michael C. McPhail, Moratelindo’s Chief Technical Officer. “This deployment extends and expands our successful partnership, and enables us to provide our customers with superior connectivity while optimizing our network operations.”

Moratelindo is gaining unparalleled performance and efficiency by leveraging Ribbon’s advanced 5nm-140Gbaud optical transport solutions, with 25 800G links for 20T capacity and Muse Multilayer Automation Platform, which helps providers maximize the value of IP Optical network investments through comprehensive control, analysis, design, and planning applications.

“Moratelindo plays a critical role in ensuring connectivity for people and businesses across Indonesia, and we’re pleased to extend our collaboration,” said Mickey Wilf, Vice President of Sales Asia, Ribbon. “We’re confident that our advanced solutions will enable them to continue delivering exceptional services to their customers.”

About Ribbon     
Ribbon Communications (Nasdaq: RBBN) delivers communications software, IP and optical networking solutions to service providers, enterprises and critical infrastructure sectors globally. We engage deeply with our customers, helping them modernize their networks for improved competitive positioning and business outcomes in today’s smart, always-on and data-hungry world. Our innovative, end-to-end solutions portfolio delivers unparalleled scale, performance, and agility, including core to edge software-centric solutions, cloud-native offers, leading-edge security and analytics tools, along with IP and optical networking solutions for 5G. We maintain a keen focus on our commitments to Environmental, Social and Governance (ESG) matters, offering an annual Sustainability Report to our stakeholders. To learn more about Ribbon, please visit rbbn.com.

Important Information Regarding Forward-Looking Statements  
The information in this release contains forward-looking statements regarding future events that involve risks and uncertainties. All statements other than statements of historical facts contained in this release, including those regarding the expected benefits from use of Ribbon Communication’s products, are forward-looking statements. The actual results of Ribbon Communications may differ materially from those contemplated by the forward-looking statements. For further information regarding risks and uncertainties associated with Ribbon Communications’ business, please refer to the “Risk Factors” section of Ribbon Communications’ most recent annual or quarterly report filed with the SEC. Any forward-looking statements represent Ribbon Communications’ views only as of the date on which such statement is made and should not be relied upon as representing Ribbon Communications’ views as of any subsequent date. While Ribbon Communications may elect to update forward-looking statements at some point, Ribbon Communications specifically disclaims any obligation to do so.

Investor Contact
+1 (978) 614-8050
ir@rbbn.com       

Media Contact
Catherine Berthier
+1 (646) 741-1974
cberthier@rbbn.com

 

WiMi Files Its Annual Report on Form 20-F

BEIJING, April 22, 2025 /PRNewswire/ — WiMi Hologram Cloud Inc. (Nasdaq: WIMI) (“WiMi” or the “Company”), a leading hologram augmented reality (“AR”) technology provider, today announced that it has filed its annual report on Form 20-F for the fiscal year ended December 31, 2024, with the Securities and Exchange Commission (the “SEC”).

The company reported that its operation result made a significant turnaround, transitioning from a net loss of around RMB 510.4 million in 2023 to a net income of approximately RMB 103.3 million (USD 14.4 million) in 2024. This remarkable shift highlights the company’s effective operation strategies and strong management.

Moreover, the company had a substantial increase in its cash and cash equivalents and Short-term investments, which further solidifies its financial position. Our Cash and cash equivalents and Short-term investments increased by approximately RMB 1.14 billion, or 148.0%, from approximately RMB 773.9 million for the year ended December 31, 2023 to approximately RMB 1.92 billion (USD 266.9 million) for the year ended December 31, 2024.This improved financial situation equips the company to pursue new development opportunities, invest in innovation research, and drive future business growth. 

The information disclosed in this press release does not purport to be complete and is qualified in its entirety by reference to the Company’s annual report on Form 20-F. The annual report, which contains the Company’s audited consolidate statements, can be accessed on the SEC’s website at http://www.sec.gov  and on the Company’s investor relations website at http://ir.wimiar.com/

The Company will provide a copy of its annual report containing the audited consolidated financial statements, free of charge, to its shareholders upon request. Requests should be directed to Investor Relations Department, Room#1508, 4th Building, Zhubang 2000 Business Center, No. 97, Balizhuang Xili, Chaoyang District, Beijing, The People’s Republic of China..

About WIMI Hologram Cloud Inc.

WiMi Hologram Cloud Inc. (NASDAQ: WIMI), whose commercial operations began in 2015, is a holographic cloud comprehensive technical solution provider that focuses on professional areas including holographic AR automotive HUD software, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductor, holographic cloud software, holographic car navigation and others. Its services and holographic AR technologies include holographic AR automotive application, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR advertising technology, holographic AR entertainment technology, holographic ARSDK payment, interactive holographic communication and other holographic AR technologies. For more information, please visit http://ir.wimiar.com

Safe Harbor / Forward-Looking Statement

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Among other things, the business outlook and quotations from management in this press release, as well as the Company’s strategic and operational plans, contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20-F and 6-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition and results of operations; the expected growth of the AR holographic industry; and the Company’s expectations regarding demand for and market acceptance of its products and services. Further information regarding these and other risks is included in the Company’s annual report on Form 20-F and current report on Form 6-K and other documents filed with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable laws.

 

MaaltalkNow Introduces Free eSIM Campaign as Emerging AI Travel App

A Free 1GB Welcome eSIM Offer Expands Access to Global Travel Connectivity

SHERIDAN, Wyo., April 22, 2025 /PRNewswire/ — Dial Communications, a fast-growing provider of AI-supported travel solutions, has announced the launch of a Free 1GB Welcome eSIM Promotion via its app, MaaltalkNow. With over 200,000 registered users across more than 180 countries, the platform expands access to seamless connectivity while redefining what users expect from mobile travel tools. The company positions MaaltalkNow not only as an eSIM provider, but as an emerging AI travel app equipped to support travelers in real time.

MaaltalkNow Introduces Free eSIM Campaign as Emerging AI Travel App
MaaltalkNow Introduces Free eSIM Campaign as Emerging AI Travel App

AI-Powered Travel, Built for the Real World

The MaaltalkNow app enhances the typical eSIM setup by offering personalized data plan recommendations, drawing from AI analysis and the most popular packages, to help travelers find the fastest, most practical options for their destination. In addition to this recommendation feature, the app supports travelers throughout their journey with the following tools:

  • Network performance checks that help users monitor data speed and connection quality in real time
  • Context-aware visual interpretation to help users understand menus, signage, and labels through AI language translation powered by the phone’s camera and AI
  • An interactive expense tracker that reflects real-time exchange rates

Together, these tools respond to the needs of modern travelers, offering clarity and control in unfamiliar settings. From departure to arrival, the app helps users stay connected and organized. Its all-in-one approach combines connectivity, decision support, and trip management in a single, intuitive platform.

Promotion Details

  • How to access: Download MaaltalkNow from the App Store or Google Play and follow the in-app event banner
  • Included benefit: 1GB of complimentary eSIM data (valid for 7 days) available in 70+ countries, including Mexico, Japan, the UK, France, Italy, Portugal, Canada, and Caribbean nations such as Jamaica
  • Eligibility: Available to first-time users with eSIM-capable devices; offer valid while supplies last

“MaaltalkNow is designed to do more than just deliver data,” said Seunghwan Lee, CEO of Dial Communications. “It’s about making travel more manageable, especially for users navigating unfamiliar destinations.”

Defining a New Category in Travel Apps

The launch comes as eSIM adoption rises among international travelers, and demand grows for flexible, app-based mobile access. With its blend of eSIM integration and AI-backed features, MaaltalkNow is part of a new generation of mobile apps helping users connect, navigate, and manage their trips in real time. Instead of replicating planning tools or booking services, MaaltalkNow focuses on supporting travelers in the moment, with context-aware assistance, real time insights, and AI agent capabilities planned for future updates.

To claim your free eSIM and explore the promotion, download MaaltalkNow from the Apple App Store or Google Play, or visit the event page (https://event.maaltalk.com/free-welcome-esim-with-ai-travel-app-maaltalknow). To learn more about the app’s AI-powered travel features or to explore available data plans, visit the Maaltalk eSIM official website (https://shop.maaltalk.com).

About Dial Communications

Founded in Seoul, South Korea, in 2003, Dial Communications specializes in providing cutting-edge eSIM technology and travel solutions for global users. With the vision of “Breaking Boundaries in Travel Through Technology,” the company serves international travelers across more than 180 countries. Dial Communications continues to advance global connectivity, fostering meaningful international travel experiences through strategic partnerships and ongoing technological advancements. In 2024, Dial Communications established its U.S. subsidiary, Maaltalk Inc., to further support its global expansion. For more information, please visit https://shop.maaltalk.com.

For media inquiries, please contact:

U.S. Office: Maaltalk Inc.
30 N Gould St Ste R
Sheridan, WY 82801, USA

Email: press@maaltalk.com

Scienjoy Holding Corporation Reports Fiscal Year 2024 Financial Results

Income from Operations up 78.5% Year Over Year
Net Income Increased by Approximately RMB60 million Year Over Year

BEIJING, April 22, 2025 /PRNewswire/ — Scienjoy Holding Corporation (“Scienjoy”, the “Company”, or “we”) (NASDAQ: SJ), an interactive entertainment leader in the Chinese market, today announced its financial results for the year ended December 31, 2024.

Fiscal Year 2024 Operating and Financial Summaries

  • Total revenues decreased to RMB1,363.4 million (US$186.8 million) for the year ended December 31, 2024 from RMB1,464.9 million for the year ended December 31, 2023.
  • Gross profit increased by 27.4% to RMB245.4 million (US$33.6 million) for the year ended December 31, 2024 from RMB192.7 million for the year ended December 31, 2023.
  • Income from operations increased by 78.5% to RMB40.7 million (US$5.6 million) for the year ended December 31, 2024 from RMB22.8 million for the year ended December 31, 2023.
  • Net income was RMB26.7 million (US$3.7 million) for the year ended December 31, 2024, increased by RMB61.7 million as compared to a net loss of RMB35.0 million for the year ended December 31, 2023.
  • Net income attributable to the Company’s shareholders was RMB39.7 million (US$5.4 million) for the year ended December 31, 2024, increased by RMB70.5 million, as compared with a net loss attributable to the Company’s shareholders of RMB30.8 million for the year ended December 31, 2023.
  • Adjusted net income attributable to the Company’s shareholders was RMB50.3 million (US$6.9 million) for the year ended December 31, 2024, increased by RMB62.0 million as compared with a net loss adjusted attributable to the Company’s shareholders of RMB11.7 million for the year ended December 31, 2023.
  • As of December 31, 2024, the Company had cash and cash equivalent balance of RMB252.5 million (US$34.6 million), which represented an increase of RMB47.1 million from RMB205.5 million as of December 31, 2023.

Mr. Victor He, Chairman and Chief Executive Officer of Scienjoy, commented, “In 2024, Scienjoy delivered a strong performance amid intense competition and complex macroeconomic conditions. We are proud to report significant growth in both gross profit and income from operations—rising by 27.4% and 78.5% respectively. These results reflect our ability to efficiently convert high-quality paying users into profit growth in an increasingly mature and competitive market. We also made meaningful progress in our global expansion strategy. Leveraging our strategic regional hub in Dubai, we have launched targeted promotional initiatives in the Middle East and North Africa—a region brimming with potential and vitality. Meanwhile, our diversified product portfolio drives organic growth through the integration of online and offline innovations. We believe these consumer-centric innovations have strengthened our market position in smart lifestyle solutions and demonstrate our commitment to create long-term value for stakeholders.

Looking ahead, we are focusing on expanding global presence while investing further in cutting-edge Artificial Intelligence Generated Content, or AIGC, technologies and integrating them across our product ecosystem. We believe these efforts will pave the way for sustained growth and enduring success.”

Mr. Denny Tang, Chief Financial Officer of Scienjoy, added, “We are pleased to share our strong financial performance for fiscal year 2024, which underscores the effectiveness of our strategic execution and disciplined financial management. Our income from operations significantly surged by 78.5% year-over-year, reflecting the success of our strategic initiatives and operational efficiencies. Additionally, we achieved a net income of RMB26.7 million in 2024 —an impressive turnaround from a net loss in 2023 by approximately RMB60 million. This significant improvement reflects the resilience of our business model and the dedication of our team in navigating a rapidly evolving market landscape. The fiscal year 2024 results validate our strategic focus and provide a solid foundation for growth. With an eye to the future, we remain steadfast in our commitment to innovation and growth, particularly in advancing our market position within the Metaverse field. Our continued investments in innovative technology, top-tier talent, and global expansion are set to unlock new opportunities and position us at the forefront of dynamic Metaverse industry. As we advance on our globalization journey, we remain confident that our strategic vision and operational excellence will continue to drive meaningful results in the years to come.”

Fiscal Year 2024 Financial Results

Total revenues decreased to RMB1,363.4 million (US$186.8 million) for the year ended December 31, 2024 from RMB1,464.9 million for the year ended December 31, 2023, primarily caused by a decrease in paying users due to competitive landscape of China’s mobile live streaming market. Total paying users were 494,652 for the year ended December 31, 2024, compared to 557,692 for the year ended December 31, 2023.

Cost of revenues decreased to RMB1,117.9 million (US$153.2 million) for the year ended December 31, 2024 from RMB1,272.1 million for the year ended December 31, 2023. The decrease was primarily attributable to a decrease of RMB123.7 million in the Company’s revenue sharing fees and a decrease of RMB26.5 million in the Company’s user acquisition costs due to the fact that the Company already had a stable market share. 

Gross profit increased by 27.4% to RMB245.4 million (US$33.6 million) for the year ended December 31, 2024 from RMB192.7 million for the year ended December 31, 2023. The gross margin increased to 18.0% for the year ended December 31, 2024 from 13.2% in the year ended December 31, 2023 due to higher average live streaming revenue per paying user (“ARPPU”) during the year ended December 31, 2024, showing the Company’s effectiveness in converting high-quality paying user to its profit growth.

Total operating expenses increased by 20.5% to RMB204.7 million (US$28.0 million) for the year ended December 31, 2024 from RMB169.9 million for the year ended December 31, 2023.

  • Sales and marketing expenses increased by 420.2% to RMB7.0 million (US$1.0 million) for the year ended December 31, 2024 from RMB1.4 million for the year ended December 31, 2023, primarily attributable to sales and marketing activities in our new subsidiaries in Dubai. The Company is taking initiative in Dubai market, aiming at global expansion starting from the dynamic Middle East and North Africa (“MENA”) region.
  • General and administrative expenses increased by1.4% to RMB76.6 million (US$10.5 million) for the year ended December 31, 2024 from RMB75.6 million for the year ended December 31, 2023. The increase was primarily due to an increase of RMB5.9 million in employee salary and welfare, offset by a decrease of RMB2.5 million in office renovation expenses and a decrease of RMB2.4 million in share-based compensation.
  • Research and development expenses increased by 20.4% to RMB90.5 million (US$12.4 million) for the year ended December 31, 2024 from RMB75.1 million for the year ended December 31, 2023, due to an increase of RMB14.7 million in technical service fee and an increase of RMB1.1 million in employee salary and welfare.
  • Provision for credit losses increased by 71.2% to RMB30.6 million (US$4.2 million) for the year ended December 31, 2024 from RMB17.9 million for the year ended December 31, 2023, primary due to a one-time write-off of a RMB30.0 million investment buyback receivable.

Income from operations increased by 78.5% to RMB40.7 million (US$5.6 million) for the year ended December 31, 2024 from RMB22.8 million for the year ended December 31, 2023.

Change in fair value of contingent consideration was nil for the year ended December 31, 2024, as compared to a loss of RMB5.6 million for the year ended December 31, 2023. Change in fair value of contingent consideration is derived from earn out liabilities resulted from historical acquisitions. The fair value of the contingent consideration is re-measured at each reporting period, and the change in fair value is recognized as either income or expense.

Change in fair value of warrants liability was nil for the year ended December 31, 2024, as compared to a gain of RMB0.2 million for the year ended December 31, 2023. The fair value of the Company’s warrants derivative liability assumed from the SPAC acquisition is re-measured to its fair value at the end of each reporting period, with the change being recorded as other expense or gain. In February 2024, the Company’s warrants expired according to the terms of the warrant agreement.

Change in fair value of investment in marketable security was a gain of RMB6.1 million (US$0.8 million) for the year ended December 31, 2024, as compared to a loss of RMB9.0 million for the year ended December 31, 2023. The change was primarily attributable to the fair value changes in investments in a publicly traded company.

Investment loss decreased to RMB5.7 million (US$0.8 million) for the year ended December 31, 2024 as compared with an investment loss of RMB31.3 million for the year ended December 31, 2023. The investment loss was primarily attributable to share of unrealized loss in long-term investments.

Impairment of long-term investments decreased to RMB10.4 million (US$1.4 million) for the year ended December 31, 2024, from RMB11.8 million for the year ended December 31, 2023.

Net income was RMB26.7 million (US$3.7 million) for the year ended December 31 2024, increased by RMB61.7 million as compared to a net loss of RMB35.0 million for the year ended December 31, 2023. 

Net income attributable to the Company’s shareholders was RMB39.7 million (US$5.4 million) for the year ended December 31, 2024, increased by RMB70.5 million as compared to a net loss attributable to the Company’s shareholders of RMB30.8 million for the year ended December 31, 2023.

Adjusted net income attributable to the Company’s shareholders was RMB50.3 million (US$6.9 million) for the year ended December 31, 2024, increased by RMB62.0 million as compared to a net loss adjusted attributable to the Company’s shareholders of RMB11.7 million for the year ended December 31, 2023.

Basic and diluted net income attributable to the Company’s shareholders per ordinary share was RMB0.96 (US$0.13) and RMB0.95 (US$0.13) for the year ended December 31, 2024. In comparison, basic and diluted net loss attributable to the Company’s shareholders per ordinary share were both RMB0.76 for the year ended December 31, 2023.

Adjusted basic and diluted net income attributable to the Company’s shareholders per ordinary share was RMB1.22 (US$0.17) and RMB1.21 (US$0.17) for the year ended December 31, 2024. In comparison, adjusted basic and diluted net loss attributable to the Company’s shareholders per ordinary share were both RMB0.29 for the year ended December 31, 2023

As of December 31, 2024, the Company had cash and cash equivalent balance of RMB252.5 million (US$34.6 million), which represented an increased by of RMB47.1 million from RMB205.5 million as of December 31, 2023. 

About Scienjoy Holding Corporation

Scienjoy is a pioneering Nasdaq-listed interactive entertainment leader. Driven by the vision of shaping a metaverse lifestyle, Scienjoy leverages AI-powered technology to create immersive experiences that resonate with global audiences, fostering meaningful connections and redefining entertainment. For more information, please visit http://ir.scienjoy.com/.

Use of Non-GAAP Financial Measures

Adjusted net income is calculated as net income adjusted for change in fair value of contingent consideration, change in fair value of warrant liability and share based compensation. Adjusted basic and diluted net income per ordinary share is non-GAAP net income (loss) attributable to ordinary shareholders divided by weighted average number of ordinary shares used in the calculation of non-GAAP basic and diluted net income per ordinary share. The non-GAAP financial measures are presented to enhance investors’ overall understanding of the Company’s financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP. Investors are encouraged to review the reconciliation of the historical non-GAAP financial measures to its most directly comparable GAAP financial measures. As non-GAAP financial measures have material limitations as analytical metrics and may not be calculated in the same manner by all companies, they may not be comparable to other similarly titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measures as a substitute for, or superior to, such metrics in accordance with US GAAP.

For more information on these non-GAAP financial measures, please see the table captioned “Reconciliations of Non-GAAP Results” near the end of this release.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.2993 to US$1.00, the noon buying rate in effect on December 31, 2024, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB amounts could have been, or could be, converted, realized or settled in U.S. dollars at that rate on December 31, 2024, or at any other rate.

Safe Harbor Statement

Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting our profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in the Company’s filings with the Securities and Exchange Commission (“SEC”) from time to time. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information speaks only as of the date of this release.

For investor and media inquiries, please contact:

Investor Relations Contacts

Denny Tang
Chief Financial Officer
Scienjoy Holding Corporation
+86-10-64428188
ir@scienjoy.com 

Ascent Investor Relations LLC

Tina Xiao
+1-646-932-7242
investors@ascent-ir.com 

 

 

CONSOLIDATED BALANCE SHEETS

(All amounts in thousands, except share and per share data or otherwise stated)

As of December 31,

2023

2024

2024

RMB

RMB

US$

ASSETS

Current assets

     Cash and cash equivalents

205,465

252,540

34,598

     Accounts receivable, net

260,979

226,060

30,970

     Prepaid expenses and other current assets

78,653

28,415

3,893

     Amounts due from related parties

355

     Investment in marketable security

31,525

37,629

5,155

Total current assets

576,977

544,644

74,616

Non-current assets

     Property and equipment, net

2,193

1,981

271

     Intangible assets, net

412,154

405,256

55,520

     Goodwill

182,467

182,661

25,024

     Long term investments

254,411

257,387

35,262

     Long term deposits and other assets

726

906

124

     Right-of-use assets-operating lease

12,157

4,845

664

     Deferred tax assets

7,379

7,505

1,028

Total non-current assets

871,487

860,541

117,893

TOTAL ASSETS

1,448,464

1,405,185

192,509

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities

     Accounts payable

73,183

36,015

4,934

     Accrued salary and employee benefits

14,763

22,346

3,061

     Accrued expenses and other current liabilities

27,610

6,840

937

     Income tax payable

13,005

11,284

1,546

     Lease liabilities-operating lease -current

7,974

4,098

561

     Deferred revenue

97,586

80,186

10,985

Total current liabilities

234,121

160,769

22,024

Non-current liabilities

     Deferred tax liabilities

59,818

58,400

8,001

     Lease liabilities-operating lease -non-current

4,798

700

96

Total non-current liabilities

64,616

59,100

8,097

TOTAL LIABILITIES

298,737

219,869

30,121

Commitments and contingencies

EQUITY

     Ordinary share, no par value, unlimited Class A
          ordinary shares and Class B ordinary shares
          authorized, 38,113,879 Class A ordinary shares and
          2,925,058 Class B ordinary shares issued and
          outstanding as of December 31, 2023, respectively.
          38,922,726 Class A ordinary shares and 2,925,058
          Class B ordinary shares issued and outstanding as
          of December 31, 2024, respectively.

     Class A ordinary shares

423,623

444,162

60,850

     Class B ordinary shares

23,896

23,896

3,274

     Shares to be issued

30,777

20,817

2,852

     Treasury stocks

(19,216)

(19,952)

(2,733)

     Statutory reserves

44,698

50,705

6,947

     Retained earnings

628,821

662,499

90,762

     Accumulated other comprehensive income

17,965

16,967

2,324

Total shareholders’ equity

1,150,564

1,199,094

164,276

Non-controlling interests

(837)

(13,778)

(1,888)

Total equity

1,149,727

1,185,316

162,388

TOTAL LIABILITIES AND EQUITY

1,448,464

1,405,185

192,509

 

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME

(All amounts in thousands, except share and per share data or otherwise stated)

For the years ended December 31,

2023

2024

2024

RMB

RMB

US$

Live streaming – consumable virtual
     items revenue

1,420,258

1,317,601

180,510

Live streaming – time based virtual item
     revenue

25,004

24,935

3,416

Technical services and others

19,609

20,848

2,857

Total revenue

1,464,871

1,363,384

186,783

Cost of revenues

(1,272,145)

(1,117,942)

(153,157)

Gross profit

192,726

245,442

33,626

Sales and marketing expenses

(1,355)

(7,049)

(966)

General and administrative expenses

(75,582)

(76,629)

(10,498)

Research and development expenses

(75,116)

(90,461)

(12,393)

Provision for credit losses

(17,865)

(30,584)

(4,188)

Income from operations

22,808

40,719

5,581

Change in fair value of contingent
     consideration

(5,624)

Change in fair value of warrant liabilities

170

Change in fair value of investment in
     marketable security

(9,023)

6,103

836

Investments loss

(31,328)

(5,742)

(787)

Impairment of long-term investments

(11,800)

(10,425)

(1,428)

Interest income, net

2,739

3,211

440

Other income, net

7,449

1,609

220

Foreign exchange (loss) gain, net

(1,887)

3,805

521

Income (loss) before income taxes

(26,496)

39,280

5,383

Income tax expense

(8,480)

(12,597)

(1,726)

Net (loss) income

(34,976)

26,683

3,657

Less: net loss attributable to
     noncontrolling interest

(4,188)

(13,002)

(1,781)

Net (loss) income attributable to the
     Company’s shareholders

(30,788)

39,685

5,438

Other comprehensive (loss) income:

Other comprehensive loss – foreign
     currency translation adjustment

(105)

(998)

(137)

Comprehensive (loss) income

(35,081)

25,685

3,520

Less: comprehensive loss attributable
     to non-controlling interests

(4,188)

(13,002)

(1,781)

Comprehensive (loss) income
     attributable to the Company’s
     shareholders

(30,893)

38,687

5,301

Weighted average number of shares

Basic

40,649,414

41,367,946

41,367,946

Diluted

40,649,414

41,564,237

41,564,237

(Loss) earnings per share

Basic

(0.76)

0.96

0.13

Diluted

(0.76)

0.95

0.13

 

 

 

Reconciliations of Non-GAAP Results

(All amounts in thousands, except share and per share data or otherwise stated)

For the years ended December 31,

2023

2024

2024

RMB

RMB

US$

Net (loss) income attributable to the Company’s
     shareholders

(30,788)

39,685

5,438

Less:

Change in fair value of contingent consideration

(5,624)

Change in fair value of warrants liability

170

Share based compensation

(13,637)

(10,579)

(1,449)

Adjusted net (loss) income attributable to the Company’s
     shareholders*

(11,697)

50,264

6,887

Adjusted net (loss) income per ordinary share

Basic

(0.29)

1.22

0.17

Diluted

(0.29)

1.21

0.17

“Adjusted net (loss) income attributable to the Company’s shareholders” is defined as net (loss) income
attributable to the Company’s shareholders excluding change in fair value of contingent consideration,
change in fair value of warrant liability and share based compensation. For more information, refer to
“Use of Non-GAAP Financial Measures” and “Reconciliations of Non-GAAP Results” at the end of this
press release.

 

TencentDB TDStore Online DDL: Technological Evolution and Innovations Background & Challenges

SHENZHEN, China, April 22, 2025 /PRNewswire/ — Traditional single-node databases (e.g., MySQL) use OnlineDDL and third-party tools (e.g., pt-osc) to enable lock-free schema changes, but face performance bottlenecks and struggle in distributed environments. Tencent Cloud’s TDStore, a financial-grade distributed database, addresses these challenges with groundbreaking innovations:

Core Technological Innovations

1.  Multi-Version Schema Mechanism

a. Introduces schema versioning to enable metadata-only modifications in seconds (e.g., adding trailing columns, extending fields). Historical data automatically fills default values, ensuring backward compatibility.

2.  Concurrency Control & State Transition

a.  Thomas Write Rule: Reduces transaction conflicts by ignoring stale writes, improving DDL-DML parallelism.
b.  Google F1 Phased State Design: Divides DDL into three stages (delete-only → write-only → final)  to ensure global consistency and smooth transitions.

3. Write Fence Mechanism

a. Validates request versions at the storage layer, allowing writes only between adjacent states to eliminate data inconsistency risks.

4.  Fast OnlineDDL Acceleration

a.  Distributed Parallel Backfilling: Splits data into SST files for multi-node parallel ingestion via bulk load, bypassing timestamp comparisons to achieve 13x performance gains (10 minutes vs. 2.3 hours).

Practices & Optimizations

1. Performance Comparison

a. Traditional Mode (single-node): 16 threads took 2.3 hours.
b.  Fast Mode (multi-node): 48 threads completed in 10 minutes, showcasing significant efficiency improvements.

2. Partitioning Best Practices

a. Large Tables: Use HASH/KEY partitioning to distribute data evenly, enabling parallel DDL execution.
b. Cold/Hot Separation: Combine RANGE+HASH secondary partitioning for rapid cleanup and elastic scaling.
c. High Concurrency: Align partition keys with frequent query fields; set partition count as multiples of node numbers.

3.  Key Parameter Configuration

a. max_parallel_ddl_degree: Increase parallel threads (≤ total node CPUs).
b. tdsql_ddl_fillback_mode:  Enable IngestBehind mode to unlock multi-node parallel acceleration.

Business Value & Future Roadmap

  • Validated Use Cases: Achieved zero downtime in PB-scale financial systems, with 10x faster execution than third-party tools.
  • Upcoming Enhancements:
    • Optimize partitioned table Copy Table and index backfilling for ordinary tables.
    • Support ultra-large-scale (tens of TB) workloads and hybrid HTAP architectures.

Conclusion

TDStore overcomes traditional OnlineDDL limitations through distributed architecture innovations and engineering practices, delivering high-performance, secure, and seamless schema change capabilities for financial-grade scenarios. It empowers enterprises to tackle massive data challenges effectively.

#DistributedDatabase #TencentCloud #TencentDB #TDSQL #Tencent Cloud BigData

TencentDB and MongoDB Elevate Strategic Partnership to Lead AI-Era Data Management Services

SHENZHEN, China, April 22, 2025 /PRNewswire/ — TencentDB and MongoDB announced the renewal of their strategic partnership agreement, focusing on delivering cutting-edge data management solutions tailored for the AI era. This collaboration aims to empower global users with advanced technological innovations.

Key Features of MongoDB
MongoDB, a leading NoSQL database, is renowned for its flexible data schema, high performance, and native distributed scalability. It dominates the NoSQL category in the DB-Engines global rankings and is widely adopted across industries such as gaming, social media, e-commerce, finance, and IoT.

Evolution of the Partnership
Since their initial five-year collaboration in 2021, TencentDB and MongoDB have jointly expanded in the Chinese market. Leveraging Tencent’s vast user scenarios and technical innovation, Tencent Cloud enhanced MongoDB with enterprise-grade capabilities, including:

  • Backup and Restore: Intelligent O&M and key-based flashback for rapid recovery.
  • Elastic Scaling: Dynamic resource allocation to handle fluctuating workloads.
  • Cross-Region Disaster Recovery: Ensuring business continuity for global operations.

These enhancements have supported high-profile clients like Kuro Games’ Tides of Thunder (32 million pre-registered players), Xiaohongshu (小红书), and NIO (蔚来), optimizing stability, scalability, and cost efficiency.

AI-Driven Innovations
The renewed partnership prioritizes AI integration, equipping Tencent Cloud with features such as full-text search and vector search to address modern application demands. These tools enable clients to build intelligent, future-proof digital solutions.

Global Expansion
Beyond China, the collaboration will target the Asia-Pacific region and support domestic enterprises in overseas expansion. TencentDB for MongoDB offers:

  • Industry-leading backup/restore capabilities.
  • Robust security compliance frameworks.
  • Cross-region data synchronization for seamless global operations.

Technical Synergy and Community Impact
Over the past four years, Tencent Cloud contributed multiple optimizations to the MongoDB open-source community, improving user experience. Both parties emphasized their commitment to fostering a superior MongoDB ecosystem.

Li Qiang, Vice President of Tencent Group, stated:
“Our partnership has delivered world-class MongoDB services while contributing to the community. We aim to further elevate the ecosystem and provide industry-leading database solutions.”

Simon Eid, MongoDB’s APAC SVP, added:
“Combining Tencent’s cloud expertise with MongoDB’s robust technology accelerates innovation, particularly for gaming, automotive, and internet sectors. As AI adoption grows, our joint expertise becomes indispensable.”

#TencentDB #TDSQL #Tencent Cloud Big Data

 

TencentDB TDSQL Powers 60+ Banks’ Year-End Financial Closings with Zero Errors

SHENZHEN, China, April 22, 2025 /PRNewswire/ — “60+ financial institutions, zero errors! During the recent year-end financial closing operations, Tencent Cloud’s ‘6T’ integrated foundational software suite—including TDSQL database, Tencent Cloud Enterprise (TCE), TCS PaaS platform, TBDS big data platform, TencentOS, and Tencent Cloud TI Platform—safeguarded over 60 banks and large state-owned financial enterprises, enabling flawless execution of critical year-end tasks with 100% accuracy.”

“As the first state-owned major bank in China to fully transition to a distributed architecture, Bank X previously deployed Tencent Cloud’s TDSQL database to power its full-scale core systems—including customer information, credit cards, and personal liabilities. In 2024, it conducted year-end financial closings on this distributed core system for the first time, facing exponentially higher workloads, complexity, and technical challenges than ever before. Throughout the process, Tencent Cloud ensured the bank’s distributed core aced this critical year-end stress test.”

“Beyond the aforementioned state-owned major bank, over 60 banks leveraged Tencent Cloud’s distributed database, private cloud, and big data platform technologies to efficiently complete year-end financial closings—executing nearly 1,000 pre-closing and year-end batch tasks per client with 100% timeliness.

In recent years, Tencent Cloud has supported nearly  40 financial institutions, including Bank of China, Agricultural Bank of China, Ping An Bank, and Zhangjiagang Rural Commercial Bank, in transitioning their core systems to distributed architectures, solidifying the role of domestic technology in ensuring secure and stable operations for the financial sector.”

Thank you for your support, we will continue the good work in 2025.

200-day Countdown: Global Promotion for 8th CIIE Underway

SHANGHAI, April 22, 2025 /PRNewswire/ — As preparations for the 8th China International Import Expo (CIIE) accelerate, the CIIE Bureau has launched a global promotional campaign. Two delegation teams have been dispatched to Europe to engage key stakeholders and increase participation. The first delegation visited Germany from March 30 to April 3, while the second traveled to Finland, Belgium, and Norway from April 22 to April 30.

During the visit to Germany, the delegation attended Hannover Messe 2025, where they engaged in high-level discussions with key entities such as Baden-Württemberg International, Saarland Economic Promotion Corporation, Festo, PHOENIX, SEW EURODRIVE, Schaeffler, and Deutsche Messe AG, exploring collaboration opportunities. Germany, a long-standing CIIE participant, occupied over 26,000 square meters exhibition space at the 7th CIIE. Industry giants including Bayer, SCHOTT, Zeiss and Merck left their imprints at the 7th CIIE, which unveiled their novel products and cutting-edge technologies, placing a pronounced focus on innovation and the pursuit of industrial upgrading.

Finland and Belgium, both significant trade partners of China, have been consistently active in the CIIE. Since making its debut at the CIIE, Finland has continuously ramped up its engagement. At the 7th CIIE, Finland showcased its fourth national pavilion, featuring 18 companies in the Finnish national pavilion focusing on areas such as sustainable mining, bio- based solutions, and food exports. Belgium has also participated in the CIIE for seven years, leveraging this unparalleled platform to introduce a wide variety of products to the massive Chinese market.

By September 2024, Norwegian seafood exports to China had surpassed 126,000 tons, marking a 16% year-on-year growth. Marking 70 years of diplomatic relations with China, Norway established its national pavilion for the first time at the 7th CIIE. With support from the Innovation Norway, 12 outstanding Norwegian companies and the Norwegian Seafood Council showcased their diverse products at the 7th CIIE, such as maritime and energy, health and nutrition, seafood and consumer goods, etc., highlighting the strengthening ties between the two nations.

On 18 April, the 200-day countdown to the 8th CIIE officially began, signaling the growing anticipation surrounding this important global event. Considering the numerous opportunities presented by the CIIE, visit the official website for more information and be sure to secure your spot at the 8th CIIE: https://www.ciie.org/zbh/en/?from=prnewswire


Contact:
Ms. Cui Yan
Tel.: 0086-21-968888
Email: exhibition@ciie.org