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iClick Interactive Releases iAudience Data Report on Chinese Internet User Behavior During COVID-19 Outbreak

By | EN, PR

HONG KONG, March 27, 2020 /PRNewswire/ — iClick Interactive Asia Group Limited ("iClick" or the "Company") (NASDAQ: ICLK), an independent online marketing and enterprise data solutions provider in China, announced the release of a report analyzing how the novel coronavirus (COVID-19) outbreak has affected the online behavior of Chinese netizens, using data from iClick’s proprietary market intelligence platform, iAudience.

Growth tendency of Chinese internet users searching for keywords related to novel coronavirus
Growth tendency of Chinese internet users searching for keywords related to novel coronavirus

The iAudience data is a clear illustration of how the mindset of Chinese netizens has changed at different stages of the epidemic. In 2019 as whole, over 300 million Chinese internet users followed health-related topics online. At the start of the epidemic in December last year, keywords relating to the novel coronavirus increased significantly, with over 40 million users searching for or viewing topics and content relating to the virus. The data shows this figure increased rapidly at the beginning of February, only beginning to decrease in early March.

Age and geographic distribution of searches for/views of coronavirus-related content in China
Age and geographic distribution of searches for/views of coronavirus-related content in China

Of internet users in China to follow the development of the epidemic online, roughly 69% were male, twice the number of women who followed topics relating to COVID-19. The 35-54 age group was the demographic most likely to view coronavirus-related content, representing 50% of overall Chinese internet users who did so.

In terms of regional differences, users based in the Chinese provinces of Zhejiang, Guangdong and Jiangsu followed the coronavirus outbreak most closely compared to all other provinces. The data also shows that the consumption behavior of internet users in China tier-four and below cities was affected the least by the epidemic, whereas the area to experience the largest impact to consumption was Hubei province, the center of the epidemic in China.

Interest categories for internet users during COVID-19 epidemic period in China
Interest categories for internet users during COVID-19 epidemic period in China

During the epidemic period, Chinese internet users became more interested in topics relating to health, work, education and personal finance. There was a noticeable increase in the amount of time spent by urban Chinese internet users on matters regarding investment and personal finance, who spent more time consuming information of this nature than anything else, apart from everyday topics while stuck at home. After the peak of the epidemic, consumers showed an increased interest in financial insurance, which could impact their consumption behavior with regard to clothing, pets and consumer electronics. Chinese internet users are also now showing greater interest in overseas travel content, indicating a rekindling of their desire to travel the world once the global epidemic passes.

Word cloud for coronavirus-related keywords in China, January 2020 and March 2020
Word cloud for coronavirus-related keywords in China, January 2020 and March 2020

Amid the period of the epidemic, TV news and online media remained the largest sources of information for consumers, and aside from traditional media, notices posted in communities became a major source of information for residents in China.

The iAudience report also shows significant differences in keywords searched relating to the virus at different stages of the epidemic. The data indicates that at the beginning of the epidemic, users were mostly concerned about the number of cases in their local area, local healthcare initiatives, and closely followed the latest updates from both the central and local government bodies. By March, when the epidemic was viewed to be largely under control in China, searched keywords began to show a greater focus on topics such as returning to the workplace and schools reopening.

About iAudience

iAudience is iClick’s proprietary market intelligence platform, empowering marketers with a deeper understanding of the Chinese market landscapes and enabling marketers to grasp potential opportunities. With the backing of iClick’s vast data platform, iAudience analyzes real-time data about Chinese internet users’ behavior to develop valuable market information and insights into consumer profiles. iAudience is the crystallization of the wide expanse of data into a single, integrated real time platform for marketers.

About iClick Interactive Asia Group Limited

iClick Interactive Asia Group Limited (NASDAQ: ICLK) is an independent online marketing and enterprise data solutions provider that connects worldwide marketers with audiences in China. Built on cutting-edge technologies, our proprietary platform possesses omni-channel marketing capabilities and fulfils various marketing objectives in a data-driven and automated manner, helping both international and domestic marketers reach their target audiences in China. Headquartered in Hong Kong, iClick was established in 2009 and is currently operating in ten locations worldwide including Asia and Europe.

For more information, please visit ir.i-click.com.

Safe Harbor Statement

This announcement contains forward-looking statements, including those related to the Company’s business strategies, operations and financial performance. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. 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 fluctuations in growth; its success in implementing its mobile and new retail strategies, including extending its solutions beyond its core online marketing business; its success in structuring a CRM & Marketing Cloud platform; relative percentage of its gross billing recognized as revenue under the gross and net models; its ability to retain existing clients or attract new ones; its ability to retain content distribution channels and negotiate favorable contractual terms; market competition, including from independent online marketing technology platforms as well as large and well-established internet companies; market acceptance of online marketing technology solutions and enterprise solutions; effectiveness of its algorithms and data engines; its ability to collect and use data from various sources; ability to integrate and realize synergies from acquisitions, investments or strategic partnership; fluctuations in foreign exchange rates; and general economic conditions in China and other jurisdictions where the Company operates; and the regulatory landscape in China and other jurisdictions where the Company operates. Further information regarding these and other risks is included in the Company’s annual report on Form 20-F and other filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries:

In China:

iClick Interactive Asia Group Limited

Lisa Li

Phone: +86-21-3230-3931 #892

E-mail: [email protected]

 

In the United States:

Core IR

John Marco

Phone: +1-516-222-2560

E-mail: [email protected]

 

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中软国际2019年业绩逆势增长

By | PR, SC

经营质量稳步提升 加速云智能转型

北京和香港2020年3月27日 /美通社/ — 中软国际有限公司(SEHK: 00354)今日发布2019年度业绩。

2019年,本公司业务实现持续增长,经营质量稳步提升。收入同比增长达到13.8%,年度溢利同比增长5.7%,本集团拥有人应占溢利同比增长5.5%。

单位:人民币千元

2019年

2018年

较去年同期%

收入

12,041,895

10,585,013

13.8%

年度溢利

756,686

716,171

5.7%

本集团拥有人应占溢利

754,888

715,803

5.5%

在战斗的2019年,公司全体员工齐心聚力、苦练内功,以华为供应商发展计划(SD)牵引业务质量和能力的提升,同时把能力复制到其他关键客户,拉动业务增长。公司搭建全栈式云服务和云产品,以咨询驱动数字化转型服务,卡位鲲鹏生态,解放号打开人力外包专区和云集发展的新局面。公司全年业绩实现逆势增长,云智能业务收入贡献超过15%。公司成功跻身Gartner全球IT服务市场份额排名TOP100。同时,公司通过股份奖励计划回购、员工股权激励,重仓中国、重仓中软国际,彰显对未来发展的坚定信心。

一、基石业务:SD牵引业务发展已获成效 新1亿美金大客户培育再添增长极

2019年,公司以华为“供应商发展计划”(Supplier Development, SD)为牵引,全面提升服务质量、服务价值和管理能力,加强流程化组织建设,在商业匹配、服务实现、风险管理、技术能力、人力资源管理和创新等方面都取得长足进展。同时公司将服务大客户的软件工程经验输出,培育更多收入贡献超1亿美金的大客户。

与华为的战略合作继续加强,积极参与鲲鹏云和HMS生态建设。公司成为华为消费者业务集团年度框架最优供应商,参与HMS Core4.0中17项核心功能研发,持续为HMS升级迭代提供优质服务。公司与华为的“Co-sell”模式在东亚、南亚市场稳健发展,并突破拉美地区,实现从业务突破到实施交付全流程落地。

汇丰业务稳定发展,实现从传统业务到管理服务模式的转型。2019年公司上线汇丰新一代数字化商业银行平台,服务于数十万商业银行客户;汇丰手机银行APP香港项目完成三次重大发布,贸易融资TT Customer Channel项目上线国际贸易保函业务,并先后在中国、美国、新加坡和印度上线新版本APP,内容涉及快速支付、个人财富管理、信用卡等新功能。

平安系业务步入增长快车道。2019年公司深耕平安大金融业务,助力平安零售银行“Open bank + AI bank”战略实施,落地智慧移动银行、智慧反欺诈、口袋银行AI管家、AI客户经理等多个重点项目;成功中标平安集团的数据平台业务项目;中标成都壹账通合作智慧财务开发项目,新拓展虚拟银行、直销银行、移动银行项目。同时公司在平安大医疗业务实现突破,中标智慧医院管理系统项目;依靠教育行业的布局以及能力积累,公司成功中标智慧教育知鸟智门户及智搜项目。

腾讯业务合作进一步深化,位势凸显。2019年公司荣获腾讯互动娱乐事业群“年度第一名优质供应商”称号;并在腾讯内容与平台事业群业务年度满意度调查中获10分佳评,先后成为乐信业务优质供应商、微视业务和浏览器运营业务指定供应商。

阿里系业务持续增长,合作领域不断拓展。公司与阿里的合作涵盖淘宝、天猫、新零售、阿里云智能、蚂蚁金融、菜鸟及数字娱乐等领域,重要合作项目阿里云智能、基础产品弹性计算、IoT、数据智能等均成功完成独立交付;公司成为阿里系地图标注业务第一大供应商。 

百度业务重点聚焦AI应用,取得迅速增长。公司与百度在搜索、智能驾驶、百度云、金融等核心业务领域进一步深入合作,新拓展搜索交付业务,先后中标百度云云智学院和认知平台/商业化平台、爱奇艺影音等项目,成为重点电商业务“爱采购”的独家合作供应商。同时公司与百度智能驾驶事业群签署共建合作协议,重点聚焦AI技术在核心应用场景的落地应用,成为百度AI数据审核标注业务最大供应商、度小满语音标注业务的TOP供应商。

中国移动业务布局持续完善。在实施“5G+”计划、构建业务新体系的背景下,政企业务和新业务市场成为新增长动能,公司在苏州研发中心、北京研究院、物联网、互联网、咪咕公司的业务基础上,新突破上海产业研究院、雄安产业研究院、政企分公司、中移全通、中移智行、杭州研发中心,成功中标中移互联网、北京研究院、中移雄安产业研院等重要项目。

二、云产品快速落地 携手华为云鲲鹏云 加快云智能转型

云产品能力快速突破,多场景布局初具形态。2019年,公司成功实现产品和多个领域解决方案云化,拓展了多个新的应用行业和场景。在协同办公领域,公司企业云盘上线海外华为严选市场,正在布局泰国、墨西哥市场,宅客学院等多款SaaS上线华为云智能工作平台WeLink;云管理服务平台已为近百个华为云客户提供云管理、云监控、云运维、云优化等功能,帮助客户降低运营成本;企业云盘、智慧零售、智慧园区、智能客服、数据治理等多个产品和解决方案入驻华为严选,其中智慧园区成功中标雄安、亦庄智慧园区项目,新零售解决方案和新零售业务中台,突破酒类、服鞋类、食品类细分行业,完成广东、陕西、福建项目试点工作。

打造全新云管理服务品牌“CloudEasy”,云管理服务成功跻身IDC中国云管理市场TOP 3。2019年,公司引入北美子公司Catapult成熟的云服务能力,为客户提供涵盖云咨询、云迁移、云运维管理等一站式上云服务;公司持续深化华为云“同舟共济”合作,在北京、上海、江苏、浙江、福建、陕西等重点区域获得华为云一级经销商身份,实现华为云中长尾客户销售业绩超10倍增长,华为云全生态渠道综合第一。

全面参与鲲鹏生态体系建设,获卡位优势。公司作为首批“华为云鲲鹏凌云伙伴计划”的生态伙伴、华为合作紧密的IT服务商,已全面参与鲲鹏生态建设。公司斩获华为首个鲲鹏云迁移项目框架合同,目前鲲鹏移植专家服务已覆盖30余行业场景,拥有500+组件迁移实施实战经验,贡献技术最佳实践400余例。公司与华为联合发布了基于鲲鹏底座的轨道交通票务云,并实现了智能客服、实时反欺诈等多个产品的鲲鹏测试认证。公司携手华为先后在西安、重庆分别成立了鲲鹏联合创新实验室和人工智能创新中心,联合技术攻关。同时公司与华为合作建设鲲鹏教育生态,建立智能联合创新实验室及智慧人才培训实训基地。

解放号云集专区迈入快速推广阶段。2019年,云集在全国签约10个城市,总计服务信息化政府项目2400余个。南京云集运营成果显著,全年交易项目855个,涉及项目金额数亿元,帮助财政资金节省5%以上,采购效率显著提升。解放号人力外包专区迅速上量。2019年,公司在解放号上初设人力外包专区,将在外包行业积累的招聘全流程管理、招聘经验、交付质量管理等经验沉淀成SaaS对第三方供应商赋能,既解决供应商灵活用工和闲置资源盘活问题,又满足了中长尾市场碎片化的需求。截至年底,人力外包专区入驻专区供应商700+家,发包总金额超3亿元。另外,疫情期间,解放号充分发挥平台及生态优势,迅速开辟“战疫优选”板块,汇集平台上四十余万工程师,聚焦协同办公、远程医疗、IT运维、医院物资管理,开发出上百款产品和解决方案。

加速推进基于技术中台、业务中台、数据中台架构理念的企业整体数字化规划和实施能力。公司以数据技术即服务模式推动数据领域技术中台化,以数据即服务模式推动数据中台建设,结合企业级数据资产管理体系,帮助企业构建全面的数字化和智能化支撑平台和运营体系。公司持续聚焦政务、智慧城市、警务、大交通、制造、金融等行业,打造标杆和亮点工程,并且推动快速复制,持续捕获数字经济红利。

展望未来,在加速到来的数字化转型浪潮中,公司将抓住发展契机,持续夯实以技术专业服务和解决方案为主的基石业务,培育更多收入贡献超1亿美金的基石客户,同时加速推进云智能战略转型,解放号全面升级面向政企客户的软件产业互联网,立足国内、布局全球,坚持“一张蓝图绘到底”,朝着世界级IT领袖企业的目标持续迈进!

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Xinyuan Real Estate Co., Ltd. to Report Fourth Quarter and Full Year 2019 Unaudited Financial Results on April 3, 2020

By | EN, PR

BEIJING, March 27, 2020 /PRNewswire/ — Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), an NYSE-listed real estate developer and property manager, today announced that it will release its unaudited financial results for the fourth quarter and full year ended December 31, 2019 on Friday, April 3, 2020, before U.S. markets open.

Xinyuan’s management team will host an earnings conference call to discuss its fourth quarter and full year 2019 financial results on Friday, April 3, 2020 at 8:00am ET, listeners may access the call by dialing:

US Toll Free:

1-800-263-0877

Toll/International:

1-323-794-2094

Mainland China National:

4001 209101

Hong Kong Toll Free:

800 961 105

United Kingdom Toll Free: 

0800 358 6377

A replay of the conference call may be accessed by phone at the following numbers until April 10, 2020:

US:

1-844-512-2921

International:

1-412-317-6671

Access code: 

7859451

A live and archived webcast of the conference call will be available at http://ir.xyre.com.

A live broadcast will be also available at Roadshowing and FUTU platform, the links are as follows:
https://q.futunn.com/nnq/detail?id=103877707104260
 
https://m.roadshowing.com/#/showdetails/16343

About Xinyuan Real Estate Co., Ltd.

Xinyuan Real Estate Co., Ltd. ("Xinyuan") is an NYSE-listed real estate developer and property manager primarily in China and in other countries. In China, Xinyuan develops and manages large scale, high quality real estate projects in over ten tier one and tier two cities, including Beijing, Shanghai, Zhengzhou, Jinan, Xi’an, Suzhou, among others. Xinyuan was one of the first Chinese real estate developers to enter the U.S. market and over the past few years has been active in real estate development in New York City. Xinyuan aims to provide comfortable and convenient real estate related products and services to middle-class consumers. For more information, please visit http://www.xyre.com.

For more information, please contact:

Xinyuan Real Estate Co., Ltd.
Mr. Charles Wang
Investor Relations Director
Tel: +86 (10) 8588-9376
Email: [email protected]

The Blueshirt Group
In U.S.: Ms. Julia Qian
Email: [email protected]

In China: Ms. Susie Wang
Mobile: +86 (138) 1081-7475
Email:  [email protected]

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Wison Engineering’s 2019 Revenue Increase by 34% to RMB 4.37 Billion

By | EN, PR

Achieves Breakthroughs in Market and Technology Development with Substantial Growth in New Contracts and Backlog Value

SHANGHAI, March 27, 2020 /PRNewswire/ — Wison Engineering Services Co. Ltd., ( ‘Wison Engineering’, HKEX Stock Code: 2236, together with its subsidiaries, the "Group" ), a leading engineering, procurement and construction (EPC) service provider in China, announced its annual results for the twelve months ended 31 December 2019 (the "Period under Review").

Significant growth on new contract representing a y-o-y increase of 34.1% to RMB 12,777 million

During the Period under Review, revenue of the Group amounted to approximately RMB4,367.3 million, representing a year-on-year increase of 34.1%. The increase in revenue was mainly attributable to the increase in revenue recognized during the Period as a result of the satisfactory progress achieved by the Group’s key projects, and the overseas petrochemical projects in North America and Middle East have entered into the peak construction stage. The gross profit amounted to approximately RMB408.2 million, representing a year-on-year decrease of 18.2%. During the Period, profit attributable to owners of the parent amounted to approximately RMB50.6 million, representing a year-on-year decrease of 10.1%. The decrease in profit attributable to owners of the parent was mainly attributable to the fact that the Group’s implementation of strategic projects in new markets which obtained a low gross profit margin in 2019, and which projects recorded relatively large proportion of the Group’s revenue during the period. In addition, the investment increase in research and development, market expansion, new business development, talent and capacity reserves, as well as increase in spending on overseas income tax, which also resulted in the decline of the profit.

During the Period under Review, total new contracts secured by the Group amounted to approximately RMB12,776.6 million (net of estimated value added tax), representing a substantial year-on-year increase of 78.3%. As at 31 December 2019, the Group’s total backlog value was approximately RMB21,868.0 million (net of estimated value added tax), representing an increase of 65.7% compared to the total backlog value as of 31 December 2018. The continually substantial increase in new contract and backlog value will lay a solid foundation for the Group’s future development. The Board of directors recommended a final dividend of RMB0.0037 (equivalent to HK$0.0040) per ordinary share. The Board is committed to returning for the long-term support of shareholders, and will implement the dividend policy based on the Company’s business performance, strategic development and market changes.

Prompt reply to the market change with continual breakthroughs in technology and market development

During the Period, the global economy and energy and chemical market were deeply affected by the geopolitics and global trading relationships. With sluggish global economic growth and slowdown of crude oil demand, the overall international chemical market dropped and the domestic chemical market became a key pillar for the expansion of global production capacity. With the domestic oil and gas industries further open to private and foreign enterprises, the huge potential in the Chinese market has attracted numerous major domestic private enterprises and renowned international companies to actively establish their presence, thus generating market opportunities for the EPC companies.

Responding to the challenges and opportunities, the Group took full advantage of flexible operating mechanisms of a private enterprise, and continued to achieve breakthroughs and innovations. During the period, the Group established "Major Customer Department", "Emerging Market Department" and "Strategic Growth Center" which will mainly focus on the clients of foreign-funded companies in China. In respect of new markets development, the Group achieved the breakthrough in conducting EPC projects for Saudi Aramco; secured its first Front-End Engineering Design (FEED) contract in relation to the MTO Project in Russia; and achieved breakthrough in the business of municipal and environmental projects in China as well. In respect of technology innovation, the Group achieved digital delivery which had been successfully verified in a million-ton ethylene design project; achieved the promotion of self-developed technologies and technology transfer of C5-C6 Isomerization; applied a combined technology of MTO and butadiene for the first time. The Company obtained outstanding performance in talent and technology reserves, while extending the industrial chain and establishing presence in markets.

Building on local market and grasping new opportunities in domestic market, while committed to the internationalization strategy

As an engineering company rooted in China with extensive experience in overseas projects as well, the Group upheld the strategy of building on local market and expanding into the international market. In response to the needs of various clients, the Group increased its application in refined project management, digitalization and modularization to create greater value for customers. During the Period, the Group secured a total of 65 new domestic projects, with an aggregate contract value of approximately RMB12.09 billion. These new projects involved various types of engineering works, such as refinery-petrochemical integration, ethylene, coal-to-chemicals, PTA and PDH, in which, the Group had made significant progress in several key domestic projects. For example, the Group entered into a general contractor contract with Zhejiang Petrochemical for 2# 1,400kta ethylene plant. By strengthening the control over the project safety and construction management, the project was awarded the title of "2019 Exemplary Civilized Construction Site of Zhejiang Petrochemical Phase II Project" by the owner, which fully demonstrated Wison Engineering’s remarkable capabilities in project management, and built the world’s leading brand of project execution capabilities..

For the international markets, during the period, the Group secured 10 new projects, mainly from two core markets, namely North America and the Middle East. Following the establishment of the Middle East Operations Center, the Group established the North America Operations Center during the period, which will help to swiftly response to the local owners and develop the North America market. In 2019, the Group has been awarded a polypropylene FEED project in Louisiana, the United States, which was Wison Engineering’s first FEED project in the United States. In addition to the key regions, the Group has established more than ten branches in Russia, the Commonwealth of Independent States, Southeast Asia and Africa as well as those districts along the "Belt and Road" initiative, laying the foundation for expanding new markets.

Accelerating the implementation of digitalization and modularization to boost the industry transformation

Wison Engineering adhered to the strategy of "Technology-driven Development", and actively promoted the application of digitalization, intellectualization and modularization. Modular prefabrication could effectively control the projects progress and quality, significantly shorten construction period and improve work efficiency, which is a highly effective solution for large-scale petrochemical plants, especially in the regions with high construction costs, resource shortage and higher construction risks. During the period, the Group completed and delivered 3 modularization projects in the United States.

Digitalization and intelligence will be the future development directions in the energy and chemical engineering industry. In particular, the outbreak of the novel coronavirus epidemic in early 2020 underscores the importance of digitalization. During the Period, the Group insisted in promoting digital transformation. By enhancing digital capability involved in EPC, project management and other processes, the Group gradually developed "Intelligent Factory" through conducting "Smart Project". Wison Engineering improved its contents and depth of automatic completion system, which has been successfully verified in a million-ton ethylene design project. The Company is capable of meeting the domestic and overseas owners demand with industry-leading digitalization capability, which will put the Group in a strong position to take advantage of the industry transformation.

Forging ahead despite challenges while actively exploring new opportunities

In 2020, the novel coronavirus epidemic outbreak has been casting challenges to the economy and industry. In view of the development of the epidemic, the Group rolled out a number of adjustment measures and strictly implemented the epidemic prevention work accordingly to ensure the health and safety of employees. The Group’s works have gradually resumed normal now and overtime works have been arranged to push ahead with the progress and reduce the impact of the epidemic. In addition, affected by the tense trading relationship, geopolitical conflicts and the breakdown of the crude oil production reduction agreement, global economy will witness a discernible slowdown and crude oil price sharply declined to its lowest level since 2016. It is anticipated that international oil price will remain volatile in 2020, but the global production capacity will maintain growth in the medium and long term.

The Group will forge ahead despite there are a series of uncertainties and challenges, and actively explore new opportunities as well. Ms. Rongwei, the Executive Director and Chief Executive Officer of Wison Engineering, said, "2020 will be full with challenges and opportunities, Wison Engineering will constantly pay attention to the changes in the epidemic and economy, and adopt responsive measures flexibly and calmly. Focusing on the market with large potential and high gross margins, the Group will continue to build ‘Highland of Talent’, promote innovation in management mechanisms, and strengthen research and development, project management and financing capabilities. Meanwhile, we strive to extend the industrial chain to the fields of catalysts, new materials, and energy-saving and environmentally-friendly business. Wison Engineering will implement the strategy of ‘Customer Value as the Core’ and ‘Technology-driven Market", and devote to increase the Company’s overall competitiveness and profitability." 

About Wison Engineering

Wison Engineering, headquartered in Shanghai, was established in 1997 and listed on the Hong Kong Stock Exchange in 2012 (stock code: 02236.HK). As one of the leading chemical EPC service and technology providers in China, Wison Engineering specializes in serving petrochemicals, coal-to-chemical and oil refining industries. From project planning, consultation and technology licensing to PDP, FEED, engineering design, procurement and construction management, as well as start-up and operational services, we provide services covering the entire lifecycle of the project.

For more information about Wison Engineering, please visit the Company’s website: www.wison-engineering.com, or follow Wison Engineering’s official WeChat.

For more information contact:
Charles Chan
+852-2116-4313

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尚德机构2019财年Q4财报:净收入5.497亿元 营销和管理费用下降

By | PR, SC

北京2020年3月27日 /美通社/ — 北京时间3月27日,中国在线学历教育和职业教育的领导者 — 尚德科技集团纽交所上市:STG)(原“尚德在线教育集团”,以下简称“尚德机构”或“公司”,公布了其截至2019年12月31日第四季度未经审计的财务报告。

2019年第四季度财务和业务亮点

  • 净收入为人民币5.497亿元(7,896万美元)。
  • 毛利润为人民币4.482亿元 (6,438万美元)。
  • 净亏损为人民币1.395亿元(合2,004万美元),同比下降24.0%。净亏损率即净亏损占净收入的百分比,从2018年第四季度的32.3%降至25.4%。
  • 截至2019年12月31日,公司递延收入为人民币32.288亿元(合4.638亿美元)。

尚德机构首席执行官刘通博说“在2019年第四季度,我们秉持着五管齐下的战略方针,不断多元化获客渠道和服务。我们的努力集中在通过大数据分析和人工智能技术的应用,进一步开发和差异化我们的产品和服务。这使我们能够为员工和学生带来显著的运营效益,促进我们的数字转型,并进一步加强数据安全和风险控制能力。”

“为了满足学生多样化的需求,我们还在继续新增课程品类和丰富已有课程体系,在学历相关课程和职业资格证课程之外,提供更多的内容选择。2019年第四季度,我们的硕士课程占总流水的19.8%,显著高于去年同期的7.8%。这些举措,加上我们在通过率方面的良好记录,使我们能够抓住成人在线学历类教育和职业技能类教育市场的强劲而长期的增长机遇。”刘通博表示。

尚德机构首席财务官李亦鹏也表示“在第四季度,我们继续寻求平衡的方法来增加收入和提高盈利能力,同时不断简化我们的成本结构。与去年同期相比,我们的管理费用和销售费用分别减少了30.9%和10.2%。“

2019年第四季度财务业绩摘要

净收入

2019年第四季度净收入为5.497亿元人民币(合7,896万美元)。

主营业务成本

2019年第四季度主营业务成本从2018年第四季度的7,852万元人民币,增长到1.015亿元人民币合1,458万美元,增长幅度为29.3%。

毛利润

2019年第四季度,毛利润为4.482亿元人民币(合6,438万美元),同比下降8.6%。

净亏损

2019年第四季度的净亏损为1.395亿元人民币(合2,004万美元),而2018年第四季度的净亏损为1.837亿元人民币。

销售费用

销售费用从2018年第四季度的5.301亿元人民币,下降到2019年第四季度的4.761亿元人民币(合6,839万美元),下降了10.2%。减少的主要原因是营销支出减少,反映了严格、谨慎的成本管理,以及销售人员薪酬和相关支出的减少。

管理费用

管理费用从2018年第四季度的1.426亿元人民币,下降至2019年第四季度的9,860万元人民币(1,416万美元),降幅为30.9%。

现金和现金等价物及短期投资

截至2019年12月31日,公司拥有现金及现金等价物14.022亿元人民币(合2.014亿美元),短期投资2.176亿元人民币(合3,126万美元),而截至2018年12月31日,现金及现金等价物为12.488亿元人民币,短期投资为10.286亿元人民币。

递延收入

截至2019年12月31日,公司递延收入为32.288亿元人民币(合4.638亿美元),而截至2018年12月31日,公司的递延收入为32.86亿元人民币。递延收入包含了预先收取的学费,根据学员协议尚未完成服务的剩余部分。

资本支出

资本支出主要用于购买支持尚德业务所需的建筑物和 IT 信息技术基础设施设备。2019年第四季度的资本支出为1,042万元人民币(合150万美元),而2018年第四季度的资本支出为2.631亿元人民币。

更多问题,请联络:

王燕语
PR 联络人
电话:+86 15331838668
邮箱:[email protected]

Are you a Corporate Representative of 尚德教育, an investor, or a member of the Business Press?



Noah Singapore granted Capital Markets Services licence, strengthening global compliance and operations

By | EN, PR

SHANGHAI, March 27, 2020 /PRNewswire/ — Noah Holdings Singapore Pte Ltd ("Noah Singapore"), a wholly owned subsidiary of Noah Holdings Limited ("Noah" or the "Company") (NYSE: NOAH), has been granted the Capital Markets Services ("CMS") licence issued by the Monetary Authority of Singapore ("MAS").

With the CMS licence, Noah Singapore can a) deal in capital markets products that are securities and units in a collective investment scheme, and b) provide custodial services. It also allows us to provide financial advisory on a) capital markets products that are securities, units in a collective investment scheme and life policies, and b) arranging of contracts of insurance in respect of life policies, other than contracts of reinsurance.

"Singapore plays a strategic role in Noah’s overall expansion in servicing our clients’ overall wealth management needs. With the issuance of the CMS licence, Noah will continue to draw on our strengths to serve Noah’s high net worth clients with an expanded suite of investment and wealth management solutions in Singapore," said Noah Singapore CEO, Mr. Tao Thomas Wu.

International business markets expansion is of importance

According to 2019 fourth-quarter annual report results released by Noah, Noah has a cumulative allocation scale of RMB686.7 billion and a total of 293,760 high-net-worth clients. The group is actively expanding its global footprint and has established a strong presence with offices in Hong Kong, Jersey, New York, Silicon Valley, Vancouver, Melbourne, and now Singapore. Noah manages businesses in diversified products such as private equity investments, real estate fund investments, open market investments, family wealth and discretionary businesses.

The net income of Noah’s overseas businesses increased by 25.4% to nearly RMB1 billion in 2019, which accounts for 22.9% of the Group’s total revenue in 2018 to 27.9%.

Noah’s overseas businesses have contributed significantly, resulting in continuous advancement of Noah’s internationalisation strategy. The comprehensive range of services such as insurance brokerage, family trusts, other asset management and investor education have improved steadily leading to a more cohesive approach to better serve clients, bringing synergy with traditional financial services structure.

According to the Global Financial Centre Index 2019, Singapore is ranked as the 4th most competitive financial centre and has become a strategic link for global investors to access fast-growing and developed markets of the Asia-Pacific region as well as Europe and US.

Noah Singapore, established in 2018, is a wholly owned subsidiary of Noah Group. Noah Singapore is dedicated to providing Chinese high net worth individuals, families and enterprises with a holistic and comprehensive range of global asset allocation, wealth management and other bespoke financial services. Noah Singapore plays an important role of the group’s internationalisation strategy.

Singapore Capital Markets Services licence deepens global compliance and operations overseas

The issuance of the CMS licence to Noah Singapore has further expanded and enhanced Noah’s overseas footprint.

Prior to this, Noah Hong Kong was approved by the Hong Kong Securities and Futures Commission on January 4, 2012 for Type 1 (securities trading), Type 4 (advising on securities) and Type 9 (providing asset management) licences. In 2016, Ark Trust (Jersey) Co., Ltd. obtained the Jersey Trust Licence. In 2017, Noah America officially obtained the California Insurance Licence.

Relying on the exemption of the financial licence issued by the Hong Kong Securities Regulatory Commission in Australia, Noah has also obtained the authority to carry out financial services in Australia. In 2019, Noah Canada successively obtained three licences: Investment Fund Manager (IFM), Exempted Market Dealer (EMD) and Portfolio Management (PM).

These licences have laid the foundation for compliance of Noah’s overseas businesses and also improved Noah’s internationalisation expansion steadily.

Mr. Tao Thomas Wu is Chief Executive Officer of Noah Singapore and is also Deputy Group President of Noah Holdings Limited. Mr Wu has nearly three decades of experiences in financial services. He served as Chief Financial Officer of Noah from 2010 to 2013. Prior to re-joining Noah, Mr Wu was Asia Pacific chief strategy officer of Bank Julius Baer. Mr. Wu has also held key executive positions with J.P. Morgan, Alliance Bernstein, and Moody’s Investors Services in New York, Singapore, and San Francisco.

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111 and Wenjiang People’s Hospital to Build Online Cancer Diagnosis and Treatment Platform

By | EN, PR

SHANGHAI, March 27, 2020 /PRNewswire/ — China’s leading online pharmaceutical network and healthcare service provider is partnering with the Wenjiang People’s Hospital in Chengdu to build an online cancer diagnosis and treatment platform for rare tumors using imported drugs. The new rare tumor platform will be linked with the national network of online diagnosis and treatment services operated by 111, Inc. (NASDAQ: YI) ("111"), which is creating a healthcare ecology around medical consultations as well as prescription drug supply through its partnerships with 235,000 out of China’s 450,000 pharmacies.

The new Internet hospital based in the Wenjiang district of Chengdu in Sichuan Province will leverage the tumor diagnosis and treatment platform under the Alliance Healthcare Services (AIQ) – Wenjiang International Oncology Institute affiliated with Wenjiang People’s Hospital, as well as provide services similar to 111’s growing network of Internet hospitals. Services will include online consultation, follow-up consultations for chronic disease patients, safe and traceable e-prescriptions, and medication sales and delivery. It will also feature a prescription information system with prescription traceability throughout the process from consultation to delivery of prescription drug refills, enabled by 111’s data analytics and Customer Relationship Management (CRM) technology.  

Rich, integrated healthcare resources create favorable industry environment in Wenjiang

Mr. Tong Liu, Senior Vice President and Chief Public Relations Officer of 111, commented, "Wenjiang is a leading healthcare industry cluster with integrated expertise and resources in ‘medical science, medical products, and medical care + artificial intelligence/big data analytics’. This was the key factor in our decision to set up operations here. We are very excited to be establishing a foothold in Wenjiang. As the first Internet pharmaceutical and healthcare platform in Wenjiang, we are confident that we will serve the local government as a strong private sector partner. We will leverage our advantages in Internet technology and supply chain management further empower the local healthcare industry in Wenjiang."

Wenjiang has been designed to serve as a demonstration model for high technology healthcare, with a development plan centered on the integration of "medical science, medical products, and medical care + artificial intelligence/big data analytics". Its three industrial parks, Chengdu Medical City (CMC), Chengdu Modern Service Industrial Cluster, and Chengdu Modern Agricultural High-Tech Industrial Park, are under construction as part of the China (Sichuan) Pilot Free Trade Zone and a business environment demonstration zone. Newly included in the central urban district of Chengdu, Wenjiang has ranked among the Top 100 Chinese Districts for Comprehensive Strength for eight consecutive years.

The Wenjiang health cluster includes more than 300 biomedical enterprises, 30 medical care institutions, and 5 high-end healthcare institutions and nursing homes. Within the cluster, revenue of the pharmaceutical and healthcare enterprises in Chengdu Medical City has increased by 25% annually over the past three years

A Wenjiang Investment Promotion Bureau Administration official commented: "As China deepens its medical sector reforms and promotes the Internet + healthcare’ concept, we are excited to welcome leading Internet pharmaceutical and healthcare companies like 111 to set up operations in our district and join forces with local enterprises. We look forward to seeing more technology-powered healthcare collaborations in Wenjiang that will build our advantages as a national and regional healthcare hub."  

An alliance to improve resource allocation of imported anti-tumor drugs

111’s Chengdu Internet hospital and Wenjiang People’s Hospital will leverage the tumor diagnosis and treatment platform under the Alliance Health Care Services (AIQ) – Wenjiang International Oncology Institute affiliated with Wenjiang People’s Hospital to improve resource allocation of imported anti-tumor drugs.

A Wenjiang People’s Hospital supervisor, added, "With 111’s support, we will be able to take better advantage of cloud-based solutions and smart supply chain management to supply international anti-tumor drugs. Through this partnership, we are looking to expand our service coverage for our rare tumor program beyond the southwestern region to reach patients nationwide."

Mr. Liu added, "Our Internet hospital business is playing a pivotal role in 111’s development in central and western China. Our strategy is to leverage information technology to enable patients nationwide to access high-quality medical resources in eastern China and other centers of excellence, such as the healthtech cluster in Wenjiang. The partnership with the Wenjiang People’s Hospital deepens our diagnostic resources and strengthens our industrial value chain based on closed-loop services from diagnosis to medication and payment."

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "confident" and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as 111’s strategic and operational plans, contain forward-looking statements. 111 may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, 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. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements involve inherent risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to the Company’s ability comply with extensive and evolving regulatory requirements, its ability to compete effectively in the evolving PRC general health and wellness market, its ability to manage the growth of its business and expansion plans, its ability to achieve or maintain profitability in the future, its ability to control the risks associated with its pharmaceutical retail and wholesale businesses, and the Company’s ability to meet the standards necessary to maintain listing of its ADSs on the Nasdaq Global Market, including its ability to cure any non-compliance with Nasdaq’s continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and 111 does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

About 111, Inc.

111, Inc. (NASDAQ: YI) ("111" or the "Company") is a leading integrated online and offline healthcare platform in China. The Company provides hundreds of millions of consumers with better access to pharmaceutical products and healthcare services directly through its online retail pharmacy and indirectly through its offline pharmacy network. 111 also offers online healthcare services through its internet hospital, 1 Clinic, which provides consumers with cost-effective and convenient online consultation and electronic prescription services. In addition to providing direct services to consumers through its online retail pharmacy, 111 also enables offline pharmacies to better serve their customers. The Company’s online wholesale pharmacy, 1 Drug Mall, serves as a one-stop shop for pharmacies to source a vast selection of pharmaceutical products. The Company’s new retail platform, by integrating the front and back ends of the pharmaceutical supply chain, has formed a smart supply chain, which transforms the flow of pharmaceutical products to pharmacies and modernizes how they serve their customers.

For more information on 111, please visit http://ir.111.com.cn/.

For more information, please contact:
111, Inc.
IR Director
Ms. Monica Mu
E-mail: [email protected]

Christensen
In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: [email protected]

In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: [email protected]    

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SKF Announces Changes to Group Management

By | EN, PR

GOTHENBURG, Sweden, March 27, 2020 /PRNewswire/ — Carina Bergfelt, General Counsel and Senior Vice President, Group People, Communication and Legal, will step down from Group Management from 31 August 2020. Carina joined SKF in 1990 and has been a member of Group Management since 1996.

As a result, the following appointments will be made to Group Management, effective 1 September 2020:

Ann-Sofie Zaks, Senior Vice President, Human Resources. Ann-Sofie was born in 1976 and has held various HR positions within SKF.  

Mathias Lyon, General Counsel and Senior Vice President, Group Legal. Mathias was born in 1975 and is currently SKF’s Deputy General Counsel.

Niclas Rosenlew, Senior Vice President and CFO, will assume responsibility for Group Communication.

Aktiebolaget SKF
     (publ)

For further information, please contact:
PRESS: Theo Kjellberg, Director, Press Relations
tel: 46-31-337-6576, mobile: 46-725-776576, e-mail: [email protected]

INVESTOR RELATIONS: Patrik Stenberg, Head of Investor Relations
Patrik Stenberg, 46-31-337-2104; 46-705-472-104; [email protected]

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Shanghai Electric Dermakan 40,000 Topeng Muka kepada Loji Kuasa Terma Wassit di Iraq

By | MY, PR

BAGHDAD, 27 Mac 2020 /PRNewswire/ — Shanghai Electric Group, pengeluar dan pembekal yang terkemuka di dunia bagi penjanaan kuasa dan peralatan perindustrian, hari ini mengumumkan bahawa ia mendermakan 40,000 keping topeng muka jenis pembedahan kepada pekerja Loji Kuasa Terma Wassit Shanghai Electric, stesen janakuasa yang terbesar seumpamanya di Iraq, sebagai respons kepada wabak COVID-19. 

"Situasi wabak bertambah baik secara beransur-ansur di dalam China, namun bilangan kes masih melonjak di Iraq dan tempat-tempat lain di Timur Tengah," kata Bian Changzheng, Penasihat Komersial Kedutaan Cina di Iraq.

Pasukan bantuan perubatan Cina di Loji Kuasa Terma Wassit di Iraq


Pasukan bantuan perubatan Cina di Loji Kuasa Terma Wassit di Iraq

 

Pasukan bantuan perubatan Cina di Loji Kuasa Terma Wassit di Iraq 

Seramai 372,757 orang di 167 buah negara dan wilayah telah disahkan dijangkiti oleh COVID-19 setakat ini. Wilayah-wilayah utama di Iraq telah mengambil keputusan untuk menutup sempadan mereka, termasuk Erbil dan Sulaymaniyah manakala wilayah-wilayah lain mengenakan perintah berkurung (lockdown) hampir sepenuhnya sebagai langkah berjaga-jaga. Loji Kuasa Terma Wassit telah melaksanakan beberapa langkah pengurusan dan kawalan risiko jangkitan di lapangan bagi melindungi kakitangan semasa bekerja di lapangan sejak Januari tahun ini.

"Pandemik ini telah memberi tekanan yang belum pernah berlaku terhadap sistem kesihatan di seluruh rantau ini dan Kedutaan Cina di Iraq menyediakan bantuan perubatan dengan membiayai bahan-bahan pencegahan wabak dan memindahkan pakar-pakar perubatan ke Iraq," Bian membuat kenyataan semasa satu lawatan bersama pakar-pakar perubatan Chinese Red Cross ke Loji Kuasa Terma Wassit bagi tujuan pencegahan, pemeriksaan dan panduan wabak. "Syarikat-syarikat Cina telah mengambil langkah-langkah agresif untuk mengekalkan kawalan terhadap coronavirus serta mengekalkan tahap kesihatan dan keselamatan pekerja tempatan."

Terletak di wilayah Wassit, bahagian tengah Iraq, selatan bandar Kut dan kira-kira 120km tenggara Baghdad, loji Wassit mempunyai empat unit dengan kapasiti penjanaan sebanyak 330MW setiap satu dan dua unit dengan kapasiti 610MW setiap satu. Dengan kesemua enam unit disambungkan ke grid dan beroperasi secara komersial pada tahun 2015, loji ini kini menyediakan output keseluruhan sebanyak 56 juta kilowatt jam (kWj) setiap hari, menyumbang sebanyak 30% daripada penjanaan kuasa negara Iraq dan 70% daripada penggunaan kuasa Baghdad pada waktu puncak.

Shanghai Electric telah melaksanakan penyelesaian "EPC + O & M" dengan memimpin dalam kedua-dua operasi dan penyelenggaraan loji kuasa ini. Bagi memastikan produktiviti dan keberkesanan projek, syarikat ini mereka bentuk dan mengeluarkan semua peralatan utama loji tersebut termasuk dandang, turbin wap, penjana dan pemeluwap, selain memudahkan 150 pekerja Iraq dengan latihan praktikal yang bertujuan untuk mempersiapkan mereka untuk mengendalikan dan menyelenggara loji ini.

"Dengan memanfaatkan momentum positif projek, loji ini ditubuhkan seiring dengan pemuliharaan ekologi dan pembangunan ekonomi. Ia juga memainkan peranan penting dalam pembangunan sosial rantau ini, dengan Shanghai Electric komited untuk membantu masyarakat setempat dengan meningkatkan pendidikan, kesihatan, infrastruktur dan gaya hidup keseluruhan rantau ini," kata He Zhuang daripada Shanghai Electric, pengurus projek Loji Kuasa Terma Wassit.

Latar Belakang Shanghai Electric 

Shanghai Electric Group Company Limited (SEHK: 2727, SSE: 601727) terlibat terutamanya dalam reka bentuk, pembuatan dan penjualan peralatan kuasa dan peralatan perindustrian. Ia memberi tumpuan pada perniagaan tenaga baharu termasuk pembuatan dan penjualan turbin angin serta komponen selain peralatan kuasa nuklear; perniagaan tenaga bersih, termasuk pembuatan dan penjualan peralatan kuasa terma, penghantaran kuasa dan peralatan pengagihan; peralatan perindustrian, termasuk pengeluaran dan penjualan lif serta motor elektrik; dan industri perkhidmatan moden, termasuk perjanjian kontrak bagi pembinaan loji penjanaan kuasa, projek-projek penghantaran dan pengagihan kuasa, serta perniagaan-perniagaan lain.

Pautan Berkaitan
www.shanghai-electric.com

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Sunlands Technology Group Announces Unaudited Fourth Quarter and Full Year 2019 Financial Results

By | EN, PR

Q4 net revenues decreased by 3.4% year-over-year
Q4 gross billings (non-GAAP) decreased by 15.5% year-over-year
Q4 new student enrollments[1] decreased by 22.6% year-over-year

BEIJING, March 27, 2020 /PRNewswire/ — Sunlands Technology Group (NYSE: STG) ("Sunlands" or the "Company"), a leader in China’s online post-secondary and professional education, today announced its unaudited financial results for the fourth quarter ended December 31, 2019.

[1] New student enrollments for a given period refers to the total number of orders placed by students that newly enroll in at least one course during that period (including those students that enroll and then terminate their enrollment with us, excluding orders of our low-price courses). In June 2019, we introduced low-price courses, including "mini courses" and "RMB1 courses," to strengthen our competitiveness and improve customer experience. We offer such low-price courses mainly in the formats of recorded videos or short live streaming.

Fourth Quarter 2019 Financial and Operational Snapshots

  • Net revenues were RMB549.7 million (US$79.0 million), representing a 3.4% decrease year-over-year.
  • Gross billings (non-GAAP) were RMB642.0 million (US$92.2 million), representing a 15.5% decrease year-over-year.
  • Gross profit was RMB448.2 million (US$64.4 million), representing an 8.6% decrease year-over-year.
  • Net loss was RMB139.5 million (US$20.0 million), representing a 24.0% decrease year-over-year. Net loss margin, defined as net loss as a percentage of net revenues, decreased to 25.4% from 32.3% in the fourth quarter of 2018.
  • New student enrollments were 92,718, representing a 22.6% decrease year-over-year.
  • As of December 31, 2019, the Company’s deferred revenue balance was RMB3,228.8 million (US$ 463.8 million).

Full Year 2019 Financial and Operational Snapshots

  • Net revenues were RMB2,193.9 million (US$315.1 million), representing a 11.1% increase year-over-year.
  • Gross billings (non-GAAP) were RMB2,358.5 million (US$338.8 million), representing a 26.6% decrease year-over-year.
  • Gross profit was RMB1,797.6 million (US$258.2 million), representing a 9.4% increase year-over-year.
  • Net loss was RMB395.2 million (US$56.8 million), representing a 57.4% decrease year-over-year. Net loss margin, defined as net loss as a percentage of net revenues, decreased to 18.0% from 47.0% in the full year 2018.
  • New student enrollments were 363,013, representing a 31.0% decrease from the full year 2018.

"In the fourth quarter of 2019, we continued to focus on our multi-pronged strategy for student acquisition and retention. Our efforts centered around the further development and differentiation of our products and services through the application of big data analytics and AI technology. This has allowed us to produce significant operational benefits to both our employees and students, facilitate our digital transformation, and further strengthen our data security and risk control capabilities," said Mr. Tongbo Liu, Chief Executive Officer of Sunlands. "In order to satisfy the diverse needs of our students, we also continued broadening our online course offerings, with more choices for master’s-oriented and professional certificate programs. Our master’s-oriented programs accounted for 19.8% of total gross billings in the fourth quarter of 2019, significantly higher compared with 7.8% in the same period a year ago. These initiatives, coupled with and our solid track record of pass rates, position us well to capture the strong long run growth opportunity in the online post-secondary and professional education market."

Mr. Steven Yipeng Li, Chief Financial Officer of Sunlands, said, "Our net revenues were RMB549.7 million in the fourth quarter of 2019, in line with our guidance. Our gross billings and new student enrollments declined 15.5% and 22.6%, respectively, year-over-year, primarily as a result of slowing macroeconomic growth in China and adjustment of marketing strategies in view of challenges in student acquisition cost. During the fourth quarter, we continued to pursue a balanced approach to grow revenue and improve profitability, by executing our student acquisition strategy while continually streamlining our cost structure. Our administrative expenses, as well as sales and marketing expenses decreased by 30.9% and 10.2%, respectively, compared with the same quarter last year. Our cost efficiency improvement measures led to a reduction in net loss in the fourth quarter, to RMB139.5 million, 24.0% lower compared with a loss of RMB183.7 million in fourth quarter of 2018. Looking ahead into 2020, we are optimistic that our dedication to persistent product and service upgrades will continue to bring value to our customers, and ultimately our shareholders."

Financial Results for the Fourth Quarter of 2019

Net Revenues

In the fourth quarter of 2019, net revenues decreased by 3.4% to RMB549.7 million (US$79.0 million) from RMB568.8 million in the fourth quarter of 2018. The decrease was mainly due to the decrease of gross billings in 2019 compared with 2018.

Cost of Revenues

Cost of revenues increased by 29.3% to RMB101.5 million (US$14.6 million) in the fourth quarter of 2019 from RMB78.5 million in the fourth quarter of 2018, which was primarily due to an increase in our insurance-related costs as we began to offer a bundled service including an integrated online education service package with insurance coverage for tuition refund. Our insurance-related costs refer to the premium that we pay for the insurance in order to deliver such integrated online education service package purchased by students.

Gross Profit

Gross profit decreased by 8.6% to RMB448.2 million (US$64.4 million) in the fourth quarter of 2019 from RMB490.3 million in the fourth quarter of 2018.

Operating Expenses

In the fourth quarter of 2019, operating expenses were RMB599.0 million (US$86.0 million), representing a 14.4% decrease from RMB699.7 million in the fourth quarter of 2018.

Sales and marketing expenses decreased by 10.2% to RMB476.1 million (US$68.4 million) in the fourth quarter of 2019 from RMB530.1 million in the fourth quarter of 2018. The decrease was mainly due to reduced marketing spending, reflective of disciplined, prudent cost management, and the decrease in expenses related to sales and marketing personnel.

General and administrative expenses decreased by 30.9% to RMB98.6 million (US$14.2 million) in the fourth quarter of 2019 from RMB142.6 million in the fourth quarter of 2018. The decrease was mainly due to the decrease in office and compensation expenses.

Product development expenses decreased by 9.9% to RMB24.3 million (US$3.5 million) in the fourth quarter of 2019 from RMB27.0 million in the fourth quarter of 2018. The decrease was primarily due to a decrease in the number of employees and compensation incurred related to our product and technology development personnel during the quarter.

Net Loss

Net loss for the fourth quarter of 2019 was RMB139.5 million (US$20.0 million), compared with RMB183.7 million in the fourth quarter of 2018.

Basic and Diluted Net Loss Per Share

Basic and diluted net loss per share was RMB20.46 (US$2.94) in the fourth quarter of 2019.

Cash and Cash Equivalents and Short-term Investments

As of December 31, 2019, the Company had RMB1,402.2 million (US$201.4 million) of cash and cash equivalents and RMB217.6 million (US$31.3 million) of short-term investments, compared with RMB1,248.8 million of cash and cash equivalents and RMB1,028.6 million of short-term investments as of December 31, 2018.

Deferred Revenue

As of December 31, 2019, the Company had a deferred revenue balance of RMB3,228.8 million (US$463.8 million), compared with RMB3,286.0 million as of December 31, 2018.

Capital Expenditures

Capital expenditures were incurred primarily in connection with purchases of buildings and IT infrastructure equipment necessary to support Sunlands’ operations. Capital expenditures were RMB10.4 million (US$1.5 million) in the fourth quarter of 2019, compared with RMB263.1 million in the fourth quarter of 2018.

Financial Results for the Year 2019

Net Revenues

In 2019, net revenues increased by 11.1% to RMB2,193.9 million (US$315.1 million) from RMB1,974.0 million in the year of 2018. The increase was mainly driven by the growth in the number of students in 2019 compared to 2018.

Cost of Revenues

Cost of revenues increased by 20.0% to RMB396.3 million (US$56.9 million) in the year of 2019 from RMB330.4 million in 2018, which was primarily due to an increase in our insurance-related costs as we began to offer a bundled service including an integrated online education service package with insurance coverage for tuition refund. Our insurance-related costs refer to the premium that we pay for the insurance in order to deliver such integrated online education service package purchased by students. 

Gross Profit

Gross profit increased by 9.4% to RMB1,797.6 million (US$258.2 million) from RMB1,643.6 million in 2018.

Operating Expenses

In the year of 2019, operating expenses were RMB2,257.3 million (US$324.2 million), representing a 15.5% decrease from RMB2,672.5 million in the year of 2018.

Sales and marketing expenses decreased by 16.7% to RMB1,792.3 million (US$257.4 million) in 2019 from RMB2,152.8 million in 2018. The decrease was mainly due to reduced marketing spend, reflective of disciplined, prudent cost management, and a decrease in expenses related to sales and marketing personnel.

General and administrative expenses decreased by 18.1% to RMB363.3 million (US$52.2 million) in 2019 from RMB443.7 million in 2018.

Product development expenses increased by 33.8% to RMB101.7 million (US$14.6 million) in 2019 from RMB76.0 million in 2018.

Net Loss

Net loss for 2019 was RMB395.2 million (US$56.8 million), compared with RMB927.0 million in 2018.

Basic and Diluted Net Loss Per Share

Basic and diluted net loss per share was RMB57.81 (US$ 8.30) in 2019, compared with RMB147.27 in 2018.

Capital Expenditures

Capital expenditures were incurred primarily in connection with purchases of buildings and IT infrastructure equipment necessary to support Sunlands’ operations. Capital expenditures were RMB25.5 million (US$3.7 million) in 2019, compared with RMB518.4 million in 2018.

Outlook

For the first quarter of 2020, Sunlands currently expects net revenues to be between RMB540.0 million to RMB560.0 million, which would represent a decrease of 4.3% to 0.7% year-over-year.

The above outlook is based on the current market conditions and reflects the Company’s current and preliminary estimates of market and operating conditions and customer demand, which are all subject to substantial uncertainty.

Exchange Rate

The Company’s business is primarily conducted in China and all revenues are denominated in Renminbi ("RMB"). This announcement contains currency conversions of RMB amounts into U.S. dollars ("US$") solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to US$ are made at a rate of RMB6.9618 to US$1.00, the effective noon buying rate for December 31, 2019 as set forth in the H.10 statistical release of the Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on December 31, 2019, or at any other rate.

Conference Call and Webcast

Sunlands’ management team will host a conference call at 7:30 AM U.S. Eastern Time, (7:30 PM Beijing/Hong Kong time) on March 27, 2020, following the quarterly results announcement.

The dial-in details for the live conference call are:

International:

1-412-902-4272

US toll free:

1-888-346-8982

Canada toll free:

1-855-669-9657

Mainland China toll free:

400-120-1203

Hong Kong toll free:

800-905-945

Hong Kong:

852-3018-4992

Please dial in 10 minutes before the call is scheduled to begin. When prompted, ask to be connected to the call for "Sunlands Technology Group." Participants will be required to state their name and company upon entering the call.

A live webcast and archive of the conference call will be available on the Investor Relations section of Sunlands’ website at http://www.sunlands.investorroom.com/.

A replay of the conference call will be available 1 hour after the end of the conference call until April 3, 2020.

International: 

1-412-317-0088

US toll free:

1-877-344-7529

Canada toll free:

855-669-9658

Replay access code:

10140418

About Sunlands

Sunlands Technology Group (NYSE: STG) ("Sunlands" or the "Company"), formerly known as Sunlands Online Education Group, is the leader in China’s online post-secondary and professional education. With a one to many, live streaming platform, Sunlands offers various degree and diploma-oriented post-secondary courses as well as online professional courses and educational content, to help students prepare for professional certification exams and attain professional skills. Students can access its services either through PC or mobile applications. The Company’s online platform cultivates a personalized, interactive learning environment by featuring a virtual learning community and a vast library of educational content offerings that adapt to the learning habits of its students. Sunlands offers a unique approach to education research and development that organizes subject content into Learning Outcome Trees, the Company’s proprietary knowledge management system. Sunlands has a deep understanding of the educational needs of its prospective students and offers solutions that help them achieve their goals.

About Non-GAAP Financial Measures

We use gross billings and EBITDA, each a non-GAAP financial measure, in evaluating our operating results and for financial and operational decision-making purposes.

We define gross billings for a specific period as the total amount of cash received for the sale of course packages, net of the total amount of refunds paid in such period. Our management uses gross billings as a performance measurement because we generally bill our students for the entire course tuition at the time of sale of our course packages and recognize revenue proportionally over a period. EBITDA is defined as net loss excluding depreciation and amortization, interest expense, interest income, and income tax expenses. We believe that gross billings and EBITDA provide valuable insight into the sales of our course packages and the performance of our business.

These non-GAAP financial measures should not be considered in isolation from, or as a substitute for, their most directly comparable financial measure prepared in accordance with GAAP. A reconciliation of the historical non-GAAP financial measures to their respective most directly comparable GAAP measure has been provided in the tables included below. Investors are encouraged to review the reconciliation of the historical non-GAAP financial measures to their respective most directly comparable GAAP financial measures. As gross billings and EBITDA have material limitations as an analytical metric and may not be calculated in the same manner by all companies, it may not be comparable to other similarly titled measures used by other companies. In light of the foregoing limitations, you should not consider gross billings and EBITDA as a substitute for, or superior to, their respective most directly comparable financial measures prepared in accordance with GAAP. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure.

Safe Harbor Statement

This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Sunlands may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, 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. Any statements that are not historical facts, including statements about Sunlands’ beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: Sunlands’ goals and strategies; its expectations regarding demand for and market acceptance of its brand and services; its ability to retain and increase student enrollments; its ability to offer new courses and educational content; its ability to improve teaching quality and students’ learning results; its ability to improve sales and marketing efficiency and effectiveness; its ability to engage, train and retain new faculty members; its future business development, results of operations and financial condition; its ability to maintain and improve technology infrastructure necessary to operate its business; competition in the online education industry in China; relevant government policies and regulations relating to Sunlands’ corporate structure, business and industry; and general economic and business condition in China Further information regarding these and other risks, uncertainties or factors is included in the Sunlands’ filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and Sunlands does not undertake any obligation to update such information, except as required under applicable law.

For investor and media enquiries, please contact:

Yingying Liu
IR Director
Tel: +86 182 5691 2232
Email: [email protected] 

The Piacente Group, Inc. 
Brandi Piacente
Tel: +1-212-481-2050
Email: [email protected]

Ross Warner
Tel: +86-10-6508-0677
Email: [email protected]  

 

 

 

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands, except for share and per share data, or otherwise noted)

As of December 31,

As of December 31,

2018

2019

RMB

RMB

US$

ASSETS

Current assets

     Cash and cash equivalents

1,248,810

1,402,226

201,417

     Short-term investments

1,028,564

217,640

31,262

     Prepaid expenses and other current assets

124,908

180,881

25,982

     Deferred costs, current

180,657

243,447

34,969

Total current assets

2,582,939

2,044,194

293,630

Non-current assets

     Property and equipment, net

559,511

545,675

78,381

     Intangible assets, net

1,369

1,176

169

     Right-of-use assets

598,991

86,040

     Deferred costs, non-current

146,610

205,488

29,517

     Long-term investments

30,009

40,026

5,749

     Deferred tax assets

85,513

12,283

     Other non-current assets

418,700

447,639

64,299

Total non-current assets

1,156,199

1,924,508

276,438

TOTAL ASSETS

3,739,138

3,968,702

570,068

LIABILITIES AND SHAREHOLDERS’ DEFICIT

LIABILITIES

Current liabilities

Accrued expenses and other current liabilities (including accrued expenses

        and other current liabilities of the consolidated VIEs without recourse to

        Sunlands Technology Group of RMB241,204 and RMB209,727 as of

        December 31, 2018 and December 31, 2019, respectively)

455,284

435,225

62,516

Deferred revenue, current (including deferred revenue, current of the consolidated VIEs

        without recourse to Sunlands Technology Group of RMB1,765,085 and

        RMB1,162,938 as of December 31, 2018 and December 31, 2019, respectively)

1,765,085

1,670,076

239,891

Lease liabilities, current (including lease liabilities, current of the consolidated VIEs

        without recourse to Sunlands Technology Group of nil and

        RMB22,659 as of December 31, 2018 and December 31, 2019, respectively)

40,236

5,780

Payables to acquire buildings (including payables to acquire buildings of the

        consolidated VIEs without recourse to Sunlands Technology Group of nil and nil

        as of December 31, 2018, and December 31, 2019, respectively)

61,540

61,540

8,840

Long-term debt, current (including long-term debt, current of the consolidated VIEs

        without recourse to Sunlands Technology Group of nil and nil as of December

         31, 2018 and December 31, 2019, respectively)

32,500

32,500

4,668

Total current liabilities

2,314,409

2,239,577

321,695

 

 

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS-continued

(Amounts in thousands, except for share and per share data, or otherwise noted)

As of December 31,

As of December 31,

2018

2019

RMB

RMB

US$

Non-current liabilities

Deferred revenue, non-current (including deferred revenue, non-current of the

consolidated VIEs without recourse to Sunlands Technology Group of

RMB1,520,940 and RMB1,096,482 as of December 31, 2018 and December 31,

2019, respectively)

1,520,940

1,558,694

223,892

Lease liabilities, non-current (including lease liabilities, non-current of the

consolidated VIEs without recourse to Sunlands Technology Group of

nil and RMB358,467 as of December 31, 2018 and December 31,

2019, respectively)

616,246

88,518

    Deferred tax liabilities(including deferred tax liabilities of the consolidated

VIEs without recourse to Sunlands Technology Group of nil and RMB4,415 as of

December 31, 2018 and December 31, 2019, respectively)

87,954

12,634

Other non-current liabilities (including other non-current liabilities of the consolidated

VIEs without recourse to Sunlands Technology Group of RMB135 and RMB135 as of

December 31, 2018 and December 31, 2019, respectively)

17,147

11,469

1,647

Long-term debt, non-current (including long-term debt, non-current of the consolidated

VIEs without recourse to Sunlands Technology Group of nil and nil as of

December 31, 2018 and December 31, 2019, respectively)

225,625

193,125

27,741

Total non-current liabilities

1,763,712

2,467,488

354,432

TOTAL LIABILITIES

4,078,121

4,707,065

676,127

SHAREHOLDERS’ DEFICIT

    Class A ordinary shares (par value of US$0.00005, 796,062,195 shares

authorized; 1,818,383 and 1,830,183 shares issued as of December 31, 2018

and December 31, 2019, respectively; 1,773,301 and 1,728,006 shares

outstanding as of December 31, 2018 and December 31, 2019, respectively)

1

1

    Class B ordinary shares (par value of US$0.00005, 826,389 shares

authorized; 826,389 and 826,389 shares issued and outstanding

as of December 31, 2018 and December 31, 2019, respectively)

Class C ordinary shares (par value of US$0.00005, 203,111,416 shares

authorized; 4,265,286 and 4,258,686 shares issued and outstanding

as of December 31, 2018 and December 31, 2019, respectively)

1

1

    Treasury stock

    Additional paid-in capital

2,391,822

2,363,999

339,567

    Accumulated deficit

(2,849,770)

(3,244,587)

(466,056)

    Accumulated other comprehensive income

118,827

142,435

20,460

Total Sunlands Technology Group shareholders’ deficit

(339,119)

(738,151)

(106,029)

Noncontrolling interest

136

(212)

(30)

TOTAL SHAREHOLDERS’ DEFICIT

(338,983)

(738,363)

(106,059)

TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT

3,739,138

3,968,702

570,068

 

 

 

 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Amounts in thousands, except for share and per share data, or otherwise noted)

For the Three Months Ended December 31,

2018

2019

RMB

RMB

US$

Net revenues

568,799

549,722

78,963

Cost of revenues

(78,515)

(101,512)

(14,581)

Gross profit

490,284

448,210

64,382

Operating expenses

     Sales and marketing expenses

(530,100)

(476,090)

(68,386)

     Product development expenses

(26,956)

(24,295)

(3,490)

     General and administrative expenses

(142,613)

(98,603)

(14,163)

Total operating expenses

(699,669)

(598,988)

(86,039)

Loss from operations

(209,385)

(150,778)

(21,657)

Interest income

23,421

9,203

1,320

Interest expense

(2,171)

(3,365)

(483)

Other income, net

1,179

6,894

990

Loss before income tax expenses

(186,956)

(138,046)

(19,830)

Income tax expenses

(2,440)

(350)

Gain from equity method investments

3,288

949

136

Net loss

(183,668)

(139,537)

(20,044)

Less: Net loss attributable to noncontrolling interest

(1)

(74)

(11)

Net loss attributable to Sunlands Technology Group

(183,667)

(139,463)

(20,033)

Net loss per share attributable to ordinary shareholders of

 Sunlands Technology Group:

     Basic and diluted

(26.68)

(20.46)

(2.94)

Weighted average shares used in calculating net loss

    per ordinary share:

     Basic and diluted

6,883,286

6,815,041

6,815,041

 

 

 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(Amounts in thousands)

For the Three Months Ended December 31,

2018

2019

RMB

RMB

US$

Net loss

(183,668)

(139,537)

(20,044)

Other comprehensive income/(loss), net of tax effect of nil:

Change in cumulative foreign currency translation adjustments

1,820

(33,578)

(4,823)

Total comprehensive loss

(181,848)

(173,115)

(24,867)

Less: comprehensive loss attributable to noncontrolling

interest

(1)

(74)

(11)

Comprehensive loss attributable to Sunlands Technology

Group

(181,847)

(173,041)

(24,856)

 

 

 

SUNLANDS TECHNOLOGY GROUP

RECONCILIATION OF GAAP AND NON-GAAP RESULTS

(Amounts in thousands)

For the Three Months Ended December 31,

2018

2019

RMB

RMB

Net revenues

568,799

549,722

Less: other revenues

(697)

(11,137)

Add: tax and surcharges

21,879

35,746

Add: ending deferred revenue

3,286,025

3,228,770

Add: ending refund liability

128,478

Less: beginning deferred revenue

(3,116,225)

(3,214,564)

Less: beginning refund liability

(75,046)

Gross billings (non-GAAP)

759,781

641,969

Net loss

(183,668)

(139,537)

Add: income tax expenses

2,440

depreciation and amortization

8,013

9,343

interest expense

2,171

3,365

Less: interest income

(23,421)

(9,203)

EBITDA (non-GAAP)

(196,905)

(133,592)

 

 

 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Amounts in thousands, except for share and per share data, or otherwise noted)

For the Years Ended December 31,

2018

2019

RMB

RMB

US$

Net revenues

1,973,985

2,193,902

315,134

Cost of revenues

(330,376)

(396,316)

(56,927)

Gross profit

1,643,609

1,797,586

258,207

Operating expenses

     Sales and marketing expenses

(2,152,830)

(1,792,285)

(257,446)

     Product development expenses

(76,022)

(101,717)

(14,611)

     General and administrative expenses

(443,691)

(363,307)

(52,186)

Total operating expenses

(2,672,543)

(2,257,309)

(324,243)

Loss from operations

(1,028,934)

(459,723)

(66,036)

Interest income

70,355

60,166

8,642

Interest expense

(2,171)

(14,312)

(2,056)

Other income, net

32,090

21,280

3,057

Loss before income tax expenses

(928,660)

(392,589)

(56,393)

Income tax expenses

(2,440)

(350)

Gain/(loss) from equity method investments

1,710

(136)

(20)

Net loss

(926,950)

(395,165)

(56,763)

Less: Net income/(loss) attributable to noncontrolling interest

72

(348)

(50)

Net loss attributable to Sunlands Technology Group

(927,022)

(394,817)

(56,713)

Net loss per share attributable to ordinary shareholders of

 Sunlands Technology Group:

     Basic and diluted

(147.27)

(57.81)

(8.30)

Weighted average shares used in calculating net loss

    per ordinary share:

     Basic and diluted

6,294,870

6,830,058

6,830,058

 

 

 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(Amounts in thousands)

For the Years Ended December 31,

2018

2019

RMB

RMB

US$

Net loss

(926,950)

(395,165)

(56,763)

Other comprehensive income, net of tax effect of nil:

Change in cumulative foreign currency translation adjustments

127,586

23,608

3,391

Total comprehensive loss

(799,364)

(371,557)

(53,372)

Less: comprehensive income/(loss) attributable to noncontrolling

interest

72

(348)

(50)

Comprehensive loss attributable to Sunlands Technology

Group

(799,436)

(371,209)

(53,322)

 

 

 

SUNLANDS TECHNOLOGY GROUP

RECONCILIATION OF GAAP AND NON-GAAP RESULTS

(Amounts in thousands)

For the Years Ended December 31,

2018

2019

RMB

RMB

Net revenues

1,973,985

2,193,902

Less: other revenues

(6,961)

(23,481)

Add: tax and surcharges

71,779

123,472

Add: ending deferred revenue

3,286,025

3,228,770

Add: ending refund liability

128,478

Less: beginning deferred revenue

(2,110,428)

(3,286,025)

Less: beginning refund liability

(6,625)

Gross billings (non-GAAP)

3,214,400

2,358,491

Net loss

(926,950)

(395,165)

Add: income tax expenses

2,440

depreciation and amortization

25,778

37,223

interest expense

2,171

14,312

Less: interest income

(70,355)

(60,166)

EBITDA (non-GAAP)

(969,356)

(401,356)

 

 

 

Cision View original content:http://www.prnewswire.com/news-releases/sunlands-technology-group-announces-unaudited-fourth-quarter-and-full-year-2019-financial-results-301030857.html

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