BEIJING, Apr 13, 2022 - (ACN Newswire) - The OKLink team released the Global Crypto Market 2022/Q1 report on April 10, which contains a thorough review on the market performance of various public blockchain as well as in-depth discussion of popular fields and topics in the first quarter.
OKLink: Preparing for a prosperous multi-chain era as Ethereum 2.0 is drawing near. [OKLink Global Crypto 2002/Q1 Report]
According to OKLink data, MicroStrategy is by far the largest holder of bitcoin amongst overseas listed companies. It has been hoarding bitcoin since August 2020 and held a total of $5.8 billion worth of 129,218 BTC by the end of the first quarter of 2022, an amount even more than the market capitalization of MicroStrategy itself and three times the position that a certain automobile company held.
For now, Ethereum ecosystem has the most dynamic and viable players of all public blockchains, yet its high Gas fee and network congestion has always been denounced, which results in its decision on moving to 2.0 stage in order to thoroughly solve the congestion on-chain and improve the scalability of the Ethereum blockchain.
Here the core change is the transformation from PoW algorithm to PoS algorithm. And 2022 is a crucial year for Ethereum's plan on 2.0 phase, which could set the stage for Ethereum to become a world-class financial settlement layer and DApp infrastructure.
Staking of ETH is a key step in Ethereum's transition to 2.0. According to OKLink data, more than 10 million ETH have been staked to ETH 2.0 contract. To be more precisely, as of March 31, ETH 2.0 contract has received a total of 10,989,186 ETH, which accounts for 9.3% of total ETH in circulation. This could be a sign that we may soon see an Ethereum that has greatly improved in scalability, security and sustainability.
In addition, several EVM (the core underlying component of Ethereum) based ecology such as Polygon and Fantom rose up to popularity as they promise a lower cost compared to Ethereum
OKLink emphasized in the report that Non-EVM based public blockchains would provide new options for users to move their assets by adding EVM compatibility; besides, this would bring more composability to the global blockchain ecology and accelerate the prosperity of multi-chain era by integrating widely accepted standards.
With the rapid development of global blockchain and crypto market, the processing and analysis of large number of diverse data on blockchains may help in grasping the trend of the crypto market. In this regard, based on self-developed technology platform and rich experience in blockchain data processing and analysis, OKLink has launched a series of data reports reflecting the development of blockchain and crypto industry, and will continue providing support for the development and prosperity of the blockchain industry.
About OKLink As one of the earliest founded blockchain companies in China, OKLink has committed to R&D and commercial application of blockchain technology since its establishment in 2013, and has developed into a world-renowned blockchain technology and data service provider. The company now holds industry leading visual blockchain data processing and analysis tools, integrating big data, AI and other advanced technologies to analyze and process complex and diverse blockchain data.
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comOKLink team had just released their Global Crypto Market First Quarter Report 2022 on April 10, which contains a thorough review on the market performance of various public blockchain as well as in-depth discussion of popular fields and topics in the first quarter.
HONG KONG, Apr 13, 2022 - (ACN Newswire) - Despite regulation and a suspension of new game licenses in China, CMGE (0302.HK) grossed RMB3,957 million in 2021, representing a year-on-year increase of 3.6%, according to its 2021 annual earnings report. The company's gross profit margin increased to 37.2% in 2021 from 32.0% in 2020, while gross profit totaled RMB1,473 million, a year-on-year increase of 20.5%.
Jian Xiao, Executive Director, Chairman and CEO of CMGE, stated at the Performance Meeting that several games to be released in 2021 had been delayed due to the failure of achieving the game license as scheduled, as well as greater contributions to development and research, caused 2021 adjusted net margin to decline by 21.9%
With strong performance in 2020, CMGE's performance in 2021 is virtually superior to that of most peer companies.
01. The company's games have achieved international success with a year-on-year international game publishing revenue increasing by 7,260%, and another growth engine emerges.
CMGE's financial statements show that its profits are essentially sourced from developing and operating IP-based games, RMB905 million of which is sourced from the profits of its game development, representing a year-on-year increase of 23.9% and accounting for 22.9% of its annual business revenues, and RMB232 million of which is sourced from the profits of its IP licensing, doubled over the last year, representing a year-on-year increase of 106.9%, showing the abundant IP reserves and outstanding performance of its self-development strategy.
It's noteworthy that CMGE gained revenue of RMB459 million overseas, a year-on-year increase of 72 times. With this growth, its international revenue increased to 11.6% in 2021 from 0.2% in 2020, sharply representing the great progress from its overseas strategy of games.
According to an insider, it's inevitable for domestic game developers to make a breakthrough by surviving on international markets under the more serious regulation. Also, to survive on international markets, the company is facing challenges in all aspects such as the research and development of products, operation, marketing and organization. To survive on international markets has become a key indicator to measure whether a game developer is of competence.
At the Performance Meeting, Jian Xiao stated that CMGE, having committed to international game markets, has provided multiple games products in Hong Kong, Macao and Taiwan, Southeastern Asia, Europe and America and has created professional localization teams in products operation, marketing, user service and advertising. With the success of several products in practice, the international markets will be further developed, the revenue of which will also be increasing.
02. The company has laid a strong foundation for challenges with a year-on-year contribution increase of 48.9% in R&D for core competence of excellent self-developed products.
The research and development is a must for excellent products, and CMGE's financial statements shows that it has been committed to the research and development. As indicated by a set of data, CMGE has a R&D team of 624 professionals by the end of the period, representing a year-on-year increase of 30.0%; its contributions to the R&D are increased from RMB208.6 million in 2020 to RMB310.7 million in 2021, representing a year-on-year increase of 48.9% and accounting for 7.9% of the corporate revenue.
CMGE has also invested in great game developers to develop game business. According to the financial statements, CMGE has invested in over 20 game developers directly or by convertible bonds in recent years.
With its investment, merger and self-development, CMGE's R&D has become mature gradually with five major game types - numerical games, platform games, strategy games, E-sports games and card games, and several new R&D studios and subsidiaries have also been established.
In the long run, the enhanced R&D will lay a strong foundation for the continuous development of products for a game company.
Jiao Xiao believes that as the game industry has been more and more limited and regulated, the game companies must pay more attention to high-quality, multi-platform and long-cycle products and gain profits of one game from multiple platforms. Also, the companies need to attract more loyal customers and enhance user stickiness by the worldview and IP of games, social function and other factors.
Driven by technologies, the game developers should develop more quality products to meet new demands of gamers. The game "Sword and Fairy: World" self-developed by CMGE to be released is a model one.
"Sword and Fairy: World", based on the worldview and IP of "Sword and Fairy", is an immersive open-world RPG where gamers are provided with great freedom to make choices. The game is available on multiple devices including PC, console, mobile phone and VR. The game art meets the VR standard to offer the best immersive experience for gamers. CMGE expects that "Sword and Fairy: World" will be developed into a bestselling strategy game with an annual revenue of over RMB3,000 billion, a high profit ratio and a long life cycle.
03. The company expects a promising future as the returns of self-developed products in international markets will begin after significant games are released.
Next, CMGE is going to release a series of self-developed products and further promote its international markets strategy to earn more reputation among international gamers.
CMGE is scheduled to release several new games with license in the first half of 2022, including "A New Record of a Mortal's Journey to Immortality", "Ultraman: Assembly" and "All Star Fight" that were released this January.
In addition, CMGE is also looking forward to the license of several major new games including "Sword and Fairy: Wen Qing", "Rakshasa Street: Chosen One", "Cultivation Fantasy" and "Daily Life of Group Chat".
As for the expected time when the license will be granted, Jian Xiao holds the view that the reason why the authority has stopped granting game licenses is essentially related to the improvement and review of the game protection system for the minors. In the long run, the government will still support the healthy development of game industry.
In addition, the key product "Sword and Fairy: World" is about to undergo the first test in August 2022 and to be released around the middle of 2023. And the E-sports game "Code: Basketball 3V3" developed by Shanghai Zhoujing will be tested by the end of 2022 and released around the middle of 2023.
At the Performance Meeting, Jian Xiao stated that considering the status quo, the company's R&D will truly pay off in 2023 with a target that the revenue of independent R&D business accounts for 40% or even more of the total revenue in 2023.
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Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comDespite regulation and a suspension of new game licenses in China, CMGE (0302.HK) grossed RMB3,957 billion in 2021, representing a year-on-year increase of 3.6%, according to its 2021 annual earnings report.
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KLANG, Malaysia, Apr 8, 2022 - (ACN Newswire) - LTKM Berhad (LTKM), a leading chicken egg producer, today announced a composite proposal, chiefly to divest the Company's existing business and venture into the business of providing of electronic manufacturing services (EMS) while at the same time, rectify its non-compliance with the public spread requirement of its shares under the listing requirements of Bursa Securities Malaysia Berhad.
Chai Voon Sun, co-founder and Managing Director of Local Assembly [L] and Executive Chairman of LTKM, Datuk Tan Kok
Wee Thian Song - Co-founder, Executive Director and Engineering Director of Local Assembly; Gurmakh Singh - Co-founder, Executive Director and General Manager of Local Assembly; Datuk Seri Chiau Beng Teik - Executive Chairman of Chin Hin Group Berhad; Chai Voon Sun - Co-founder and Managing Director of Local Assembly; Datuk Tan Kok - Executive Chairman of LTKM; Tan Kah Poh, Kenny - Independent Director of LTKM; Rahman Ali Bin Abdul Wahab - Director of Proven Venture Sdn. Bhd. [L-R]
Executive Chairman of LTKM, Datuk Tan Kok said, "At its core, the proposals seek to reward our shareholders from the proceeds of the disposal of the Company's existing poultry business while at the same time, allow them to continue participating in the new EMS business following the proposals."
"The proposed disposal comes amid the challenging operating landscape for the poultry industry brought on by overcapacity, low average selling price of eggs, high raw material prices, difficulty in controlling disease outbreaks in the farms and acute labour shortage. In relation to these challenges, we have also incurred losses in the recent financial years ended 31 March 2020 to 2021 and for the nine-month period ended 31 December 2021. This has affected our ability to pay dividends too."
"Concurrent with the proposed disposals, we believe the proposed acquisition of the EMS business is an opportunity to create value for our shareholders through a business that is viable and profitable."
Briefly, the proposals comprise the following inter-conditional steps:
1. Proposed disposal of LTKM's existing business to Ladang Ternakan Kelang Sdn Bhd (LTKSB) for a total cash disposal consideration of RM158.83 million. LTKSB, which holds 71.6% of the equity interest in LTKM, is also the holding company of LTKM;
2. Proposed special dividend and capital repayment of RM1.1098 per LTKM share totalling RM158.83 million on an entitlement date to be determined;
3. Proposed consolidation of two existing LTKM shares into one LTKM share following the proposed special dividend and capital repayment;
4. Proposed acquisition by LTKM, of 100.0% equity interest in Local Assembly Sdn Bhd (Local Assembly) from Chai Voon Sun, Gurmakh Singh a/l Ajmer Singh, Wee Thian Song, Divine Inventions Sdn Bhd and Proven Venture Sdn Bhd (Vendors) for RM336.00 million to be satisfied through cash of RM100.00 million and the issuance of 393,333,333 new LTKM shares at an issue price of RM0.60 each;
5. Proposed restricted issue of 230.00 million new LTKM shares at an indicative issue price of RM0.60 each, representing 33.1% of the enlarged share capital of LTKM after the proposals to investors to be identified;
6. Proposed exemption to the vendors and persons acting in concert from the obligation to undertake a mandatory take-over offer to acquire the remaining LTKM shares not already owned by them upon completion of the proposed acquisition; and
7. Proposed change of name to "LA Technology Berhad" from "LTKM Berhad".
The proposed acquisition will result in a significant change in LTKM's business direction from a producer of chicken eggs to becoming an EMS provider. Local Assembly, an EMS provider, will become a wholly-owned subsidiary of LTKM while the vendors of Local Assembly will become LTKM's controlling shareholders with a 56.6% equity interest in the Company following the proposed acquisition and proposed restricted issue. By virtue of his shareholding in Divine Inventions, Datuk Seri Chiau Beng Teik, the Executive Chairman of Chin Hin Group Berhad, will become a major shareholder of LTKM.
Under the proposed acquisition, the vendors have provided a profit guarantee for Local Assembly of a minimum profit after tax (PAT) of RM28.00 million for the financial year ending 31 December 2022 or not less than an aggregate of RM50.00 million PAT for both financial years ending 31 December 2022 and 2023. Based on the guaranteed PAT of RM28.00 million for the financial year ending 31 December 2022, the purchase consideration represents a price to earnings multiple of 12 times.
For Chai Voon Sun, co-founder and Managing Director of Local Assembly, the listing of Local Assembly via LTKM means a realisation of 2 decades of hardwork for him and his co-founders and a step forward in the company's journey of growth and expansion. "This transaction is a major milestone for Local Assembly. We look forward to the next phase of our corporate journey as a listed entity, which will further accelerate our growth as an EMS player, allow us to expand our customer base and product offerings and pursue more opportunities" he adds.
Local Assembly, which started operations in 2000, is a manufacturer of electronic, electrical and plastic injection moulded components, and sub-contract assembler of electrical appliances and equipment. Its principal markets are Malaysia and Singapore. For the financial year ended 31 December 2022, Local Assembly achieved PAT of RM20.06 million on the back of a revenue of RM116.35 million.
The application for the proposals is expected to be submitted to the relevant authorities by the second quarter of 2022. Subject to approvals from relevant parties including Securities Commission, Bursa Securities Malaysia Berhad as well as shareholders of LTKM, the proposals are expected to be completed in the first half of 2023.
M & A Securities Sdn Bhd is Adviser to LTKM for the proposals.
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comLTKM Berhad (LTKM), a leading chicken egg producer, today announced a composite proposal, chiefly to divest the Company's existing business and venture into the business of providing of electronic manufacturing services (EMS) while at the same time, rectify its non-compliance with the public spread requirement of its shares under the listing requirements of Bursa Securities Malaysia Berhad.
SHANGHAI, Mar 31, 2022 - (ACN Newswire) - Weimob Inc (2013.HK) released its 2021 financial report earlier this week (3-28), showing that its adjusted total revenue in 2021 reached 2.686 billion yuan, a record high, and its performance increased by 36.4% against the background of overcoming unfavorable factors such as downward pressure on the macro economy. After adjustment, the gross profit of RMB 1.517 billion increased by 51.3% year on year. Among them, the digital business sector achieved revenue of 1.967 billion yuan, an increase of 70.9% compared with 2020. Subscription solutions and merchant solutions in this sector achieved high growth of 90.9% and 47.5% respectively. The "WOS" new business operating system developed by Weimob Inc has been officially put into beta this month, and it may become a powerful engine to drive the future growth of Weimob Inc.
High-speed growth of business; SaaS revenue grows against the trend
In 2021, the persistence of the epidemic brought many challenges to consumers and To B enterprises. Weimob Inc focuses on the digital transformation and upgrading of enterprises, continuously strengthens the development of multi-product lines, further promotes the three strategies of "customization, ecology and internationalization", overcomes the adverse effects of external environment, and achieves the contrarian growth of performance. The financial report shows that the digital business income of Weimob Inc in 2021 was 1.967 billion yuan, an increase of 70.9% compared with 1.246 billion yuan in 2020. Among them, the revenue of Weimob Inc subscription solution (SaaS sector) reached 1.188 billion yuan, a substantial increase of 90.9% year-on-year. The number of paying merchants was 102,813, a year-on-year increase of 5.0%. The average income per user increased by 57.7% to 11,553 yuan.
At the same time, with the continuous promotion of TSO's full-chain marketing solution, the business solutions in the digital business sector of Weimob Inc have achieved good results. The financial report shows that in 2021, the business solution revenue was 779 million yuan, a year-on-year increase of 47.5%; The gross income of accurate delivery was 10.95 billion yuan, a year-on-year increase of 12.1%. The number of paying merchants increased by 26.7% to 57,909, and the average income per user was 13,454 yuan.
The financial report shows that the R&D expenditure of Weimob Inc in 2021 was 775 million yuan. Among them, the total investment of strategic projects such as the new business operating system WOS and the construction and operation of the middle platform reached 682 million yuan. Due to the increased investment in R&D and the merger and acquisition of Xiangxinyun and Haiding in 2021 and previous years, Weimob Inc lost 566 million yuan in adjusted net profit in 2021. However, these investments promote the cost reduction and efficiency increase of Weimob Inc. The financial report shows that the company has abundant cash flow, with cash and cash equivalents of 3.809 billion yuan, and its financial structure is healthy and sustainable.
The strategy of customization has achieved fruitful results, and internationalization has steadily advanced The financial report shows that the reason why Weimob Inc achieved high revenue growth in 2021, benefiting from the core strategy of "customization, ecology and internationalization" of the group. With the support of TSO's full-chain marketing solution and smart retail and other key businesses, Weimob Inc's customization strategy achieved fruitful results. In the smart retail sector, in 2021, Weimob Inc's smart retail revenue was 426 million yuan, 193.6% year-on-year, and its share in subscription solution revenue further increased from 20.2% in 2020 to 36%. At present, the number of smart retailers in Weimob was 6,126, the number of brand merchants was 1,003, and the average order income of brand merchants per user was 234,000 yuan.
The Weimob smart catering business also achieved a breakthrough. In 2021, Weimob Smart Catering completed the technical and operation system layout of "three stores integrated and global operation". During the reporting period, Weimob's smart catering revenue was 53.616 million yuan, up 19.6% year-on-year, accounting for 4.5% of subscription solution revenue. There were 8,406 smart catering merchants, and the average order revenue per user of catering merchants was 17,000 yuan. By the end of 2021, Weimob smart catering customers accounted for 41% of China's top 100 restaurants; The revenue from catering orders accounted for 51%.
Promoting ecology, WOS New Business Operating System as a new growth engine
As one of its three core strategies, Weimob Inc's ecological strategy has also made remarkable achievements. In terms of developer ecology, in 2021, Weimob Cloud PaaS platform will continue to empower ecological partners, with over 50 new high-quality ecological partners and over 400 new cloud market applications.
In order to create a good foundation for smart business, the WOS New Business Operating System was officially put into public beta in March 2022. WOS new commercial operating system integrates SaaS business integration, ecological partnership and PaaS platform infrastructure, and realizes the comprehensive upgrade of product strength, technical strength and ecological strength, demonstrating the technical strength of Weimob Inc.
In 2022, Weimob will continue to improve WOS product strength, better serve customers through Weimob cloud empowering eco-partners, and drive the growth of product strength and commercial strength by technology, so as to realize faster product development, better product experience and service, and more ecological applications and services, so as to promote customers' purchase, increase customer renewal fees and increase ecological income. CITIC Securities holds that "WOS" is expected to become the new growth driver of SaaS with the improvement of merchant coverage and the acceleration of commercialization.
In terms of investment layout, in 2021, Weimob Inc and Yicun Capital jointly established "Weizhi Digital Industry Fund" and invested in outstanding projects such as Shuyun, Haizhi and Meichuang. In November, 2021, Weimob Inc announced the acquisition of 51.89% equity of Shanghai Xiangxinyun Network Technology Co., Ltd., and incorporated Xiangxinyun into the listed company system, thus deepening the digitalization capability of smart retail shopping guide.
Weimob Inc said that in 2022, the company will focus on seven directions: focusing on key customers and continuing to lead; Open and win-win, create ecological barriers; TOS full-link operation, helping customers smart grow; Continue to increase investment in private track and consolidate the leading position in the industry; Cloudy layout drives new growth; "7+X" to create a new growth flywheel; Cross-border development and layout of the global market. Under the background of accelerating the digitalization process of Chinese enterprises, Weimob Inc has made sufficient product reserves, technical reserves, talent reserves and capital reserves, laying a solid foundation for the development in the next five years.
Weimob Inc (2013.HK) is the leading cloud-based commerce and marketing solutions provider for SMBs. For information, visit www.weimob.com.
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comWeimob Inc (2013.HK) released its 2021 financial report this week (3/28), showing that its adjusted total revenue in 2021 reached 2.686 billion yuan, a record high, and its performance increased by 36.4% against the background of overcoming unfavorable factors such as downward pressure on the macro economy.