Next week, the House of Representatives plans to vote on a bill that would effectively decriminalize and deschedule cannabis, marking only the second time in over 50 years that a chamber of Congress has voted to reclassify cannabis from its existing status as a federally prohibited substance. What can we expect as far as timetables and anticipated […]
Bukele slams the US bill that targeted his Bitcoin law while the US Senators try to understand the effects that the bill has on the country but also on the US dollar so let’s read more in today’s latest Bitcoin news. The US lawmakers introduced a new bill to examine and to develop a plan […]
NEW YORK, Mar 25, 2022 - (ACN Newswire) - Deloitte's United States Economic Forecast Q1 2022 examines the impact of the crisis in Ukraine, persisting inflation, and the lingering effects of COVID-19 on the US economy. The good news is that the US economy's performance has been better than expected. People are getting back to work, corporate profits for Q3 are 21% above the pre-pandemic level and the increased adoption of technology has accelerated labor productivity growth.
Deloitte's baseline scenario anticipates the pandemic jump-starting the widespread adoption of technology leading to faster growth. Morgan Stanley is also positive about the potential growth of tech stocks given the recent underperformance.
Heading into Q2 of 2022, it's time to look at the next greater investments for 2022.
For investors seeking to enter the market before the rest of the world catches up, we have found a prospering young tech firm with a strong growth potential in 2022.
For investors looking for tech stocks with extraordinary growth potential, we suggest taking specific notice of one of the SaaS web analytics leaders, Fastbase Inc. (OTC:FBSE). Launched in 2016, Fastbase Inc. embodies one of the top public companies that we believe will have the strongest share price upside in 2022. Fastbase Inc. (www.fastbase.com) already achieved massive market success by providing more than 1 million companies, including Fortune 500 businesses and global brands, with invaluable website visitor data and consequently attracting the attention from large investment firms.
In the past 2 years the visionary company launched tech solutions to satisfy uncovered needs in the market. Only last year Fastbase launched Trustfeed.com, one of the biggest internet ventures within the field of customer experience and product review. This year Fastbase is squaring the circle by launching Leads Navigator, an ultimate leads generation solution. Leads Navigator will be a catalyst for financial growth in 2022 with a very strong revenue model.
Fastbase Inc recently announced acquiring 24.5% of Etheralabs LLC, (www.etheralabs.io) a New York City based Venture Lab and Ecosystem that is investing in, creating, and implementing disruptive technologies across the Blockchain landscape. This acquisition allows Fastbase to access the latest blockchain advances to empower its data distribution business and support the new Leads Navigator solution.
Forward-Looking Statements Certain information set forth in this presentation contains "forward-looking information", including "future-oriented financial information" and "financial outlook", under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company's business, projects, and joint ventures; (iv) execution of the Company's vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company's projects; (vi) completion of the Company's projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company's current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management's beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are informational only and not guarantees of future performance and undue reliance should not be placed on them.
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comDeloitte's United States Economic Forecast Q1 2022 examines the impact of the crisis in Ukraine, persisting inflation, and the lingering effects of COVID-19 on the US economy.
MONTREAL, March 24, 2022 /CNW Telbec/ – Transat A.T. Inc., its employees and customers will be supporting the humanitarian efforts of SOS Children’s Villages in Ukraine. The company is launching a fundraising campaign to assist SOS Children’s Villages, its long-time partner that has…
Leading crypto exchange Ku Coin has experienced some vast success over the past 12 months. The company is now celebrating by presenting some of its top-ranking employees with $100,000 bonuses being paid out in bitcoin, Ethereum, and other cryptocurrencies. Ku Coin Hands Out a Lot of Money During the previous year, KCS – the official...
Customers are migrating data warehouses to Amazon Redshift because it’s fast, scalable, and cost-effective. However, data warehouse migration projects can be complex and challenging. In this post, I help you understand the common drivers of data warehouse migration, migration strategies, and what tools and services are available to assist with your migration project. Let’s first […]
The following proposes a partnership between Horizon Worlds, a social virtual reality app from Facebook (Meta), and several major esports organizations. The objective is to demonstrate how non-gaming virtual worlds can build trust with and attract gamers through esports marketing. Here are some key takeaways: Today’s Metaverse is divided Competitive video games (esports) […]
HONG KONG, Mar 23, 2022 - (ACN Newswire) - Kingsoft Corporation Limited ("Kingsoft" or the "Company"; HKEx stock code: 3888), a leading Chinese software and Internet service company, has announced its 2021 annual results and fourth-quarter results for the period ended 31 December 2021.
For the year 2021, the revenue of Kingsoft increased 14% year-on-year to RMB6,371.4 million. Revenue from the office software and services and online games and others represented 51% and 49%, respectively, of the Company's total revenue for the year of 2021. Gross profit for the year 2021 increased 11% year-on-year to RMB 5,214.3 million, while operating profit amounted to RMB1,360.6 million.
For the fourth quarter of 2021, the Company's revenue increased 13% year-on-year and 21% quarter-on-quarter to RMB1,822.1 million. Revenue from the office software and services and online games and others represented 50% and 50%, respectively, of the Company's total revenue for the fourth quarter of 2021. Gross profit for the fourth quarter of 2021 increased 8% year-on-year and 17% quarter-on-quarter to RMB1,449.6 million, while operating profit amounted to RMB331.4 million.
Mr. Jun LEI, Chairman of Kingsoft, commented, "In 2021, we are poised to achieve a steady growth in our core businesses leveraging our continuous investment in technological innovation. Kingsoft Office Group understands user needs and has further enhanced its products and services. It has also continued to pursue the ecosystem strategy of "multi-screen, cloud, content, artificial intelligence ("AI") and collaboration" and achieved an excellent operation performance. Meanwhile, our online games business has launched several new mobile games during the year while continuing to focus on the development of premium games, long-term operation and enrichment of core game IPs."
Mr. Tao ZOU, Chief Executive Officer of Kingsoft, added, "The Group's business continued to achieve steady growth, with revenue reaching RMB6,371.4 million, increasing by 14% year-on-year. Our office software and services business maintained a solid growth momentum and its revenue increased 45% year-on-year."
Office Software and Services
In 2021, revenue from office software and services business increased 45% year-on-year to RMB3,264.8 million. Revenue in the fourth quarter increased 19% year-on-year and 12% quarter-on-quarter to RMB903.9 million.
In 2021, Kingsoft Office Group continued to enhance its products and services for cloud office and collaboration office scenarios. With increasing user activeness and user stickiness in individual and enterprise users, cloud migration of both domestic individual and institutional subscriptions has accelerated. With the stable growth in the number of monthly active devices of its key products, Kingsoft Office Group has continued to optimize its user experience and products functions, promote cloud migration, increase usage of its value-added functions and further drove the growth in its number of paying users. In addition, the significant increase in the number of uploaded cloud documents and the increase in the proportion of long-term paying users have also laid a solid foundation for the development of the individual subscription business in the future.
Regarding the government and enterprise market, Kingsoft Office Group took advantage of the industry trend on the demands of government and enterprise users for data asset management and office efficiency improvement and has actively improved product systems, enhanced user experience and expanded eco-systems, to promote the cloud office migration of government and enterprise users. This has also set a solid foundation for its subsequent promotion of digital office platform solutions. As the cloud migration of government and enterprise users continues, Kingsoft Office Group is expected to increase its presence in the government and enterprise market.
In addition, Kingsoft Office Group has witnessed a strong demand growth from the government and enterprise users, as localization projects enter a booming stage with a fast-growing market leveraging the favourable policies. Moreover, Kingsoft Office Group also received substantial orders for its re-flowable and fixed-layout document format products which lead to the robust growth of its domestic institutional licensing business.
Online Games and others
Revenue from the online games and other businesses for 2021 was RMB3,106.6 million. Revenue for the fourth quarter of 2021 increased 8% year-on-year and 30% quarter-on-quarter to RMB 918.2million. The steady year-on-year growth in the fourth quarter was mainly due to the successful launch of several mobile games which diversified the Company's game portfolio. In the fourth quarter, revenue from the flagship JX Online III PC game and the classic JX 2D PC game grew steadily quarter-on-quarter. Moreover, we have also achieved breakthroughs in product development demonstrating the vitality of the core IP and our strong R&D and operational capabilities.
Following the successful release of the JX I Pocket mobile game in Vietnam in April 2021, JX I: Gui Lai, the domestic version of JX I Pocket mobile game was released in October. Upon its debut, JX I: Gui Lai was ranked third in the top free charts and first in the top-grossing role-playing game (RPG) charts for iOS. In November, Wu Lin Xian Xia, our self-developed mobile game, was released in China with the highest-ranking sixth in the top-grossing charts for iOS, demonstrating our successful strategic cooperation with Nuverse. In December, JX World III, the third generation of the JX World series mobile games, was launched. Upon its launch, JX World III ranked first in the top free charts and ninth in the top-grossing charts for iOS. In addition, the mobile game was also recommended on the front page of Apple Today and was recognized as a superstar product by the Mobile Hardcore Alliance.
Mr. Jun LEI concluded, "Looking forward, Kingsoft Office Group will ride on the trend of cloud and collaboration office and continue to invest in product research and development. It will also further explore the opportunities in the enterprise market and strive to empower the digital transformation of large-scale organizations. Regarding our online games business, we will maintain the development of our core IP while focusing on bringing new game genres and new IPs. Looking ahead, we will continue to invest in R&D, promote technological innovation and upgrades, and pursue social responsibility to ensure long-term sustainable growth of our business."
About Kingsoft Corporation Limited Kingsoft is a leading software and Internet services company based in China listed on the stock exchange of Hong Kong. It has two subsidiaries including Kingsoft Office and Seasun. Following the implementation of its "mobile internet transformation" strategy, Kingsoft has completed the comprehensive transformation of its overall business and management models and formed a strategic platform with office software and interactive entertainment as the pillars and cloud services and AI as the new directions. The Company has more than 7,000 staff around the world and enjoys an important market share in China. For more information, please visit http://www.kingsoft.com.
Kingsoft Investor Relations: Francie Lu Tel: (86) 10 6292 7777 Email: firstname.lastname@example.org
For further queries, please contact Hill+Knowlton Strategies Asia: Ovina Zhu Tel: (852) 2894 6315 Email: email@example.com
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comKingsoft Corporation Limited ("Kingsoft" or the "Company"; HKEx stock code: 3888), a leading Chinese software and Internet service company, has announced its 2021 annual results and fourth-quarter results for the period ended 31 December 2021.