Technology
DouYu International Holdings Limited Reports Second Quarter 2024 Unaudited Financial Results
Published
1 week agoon
By
WUHAN, China, Sept. 12, 2024 /PRNewswire/ — DouYu International Holdings Limited (“DouYu” or the “Company”) (Nasdaq: DOYU), a leading game-centric live streaming platform in China and a pioneer in the eSports value chain, today announced its unaudited financial results for the second quarter ended June 30, 2024.
Second Quarter 2024 Financial and Operational Highlights
Total net revenues in the second quarter of 2024 were RMB1,032.0 million (US$142.0 million), compared with RMB1,392.2 million in the same period of 2023.Gross profit in the second quarter of 2024 was RMB84.2 million (US$11.6 million), compared with RMB188.9 million in the same period of 2023.Net loss in the second quarter of 2024 was RMB49.2 million (US$6.8 million), compared with net income of RMB6.8 million in the same period of 2023.Adjusted net loss[1] in the second quarter of 2024 was RMB45.5 million (US$6.3 million), compared with adjusted net income of RMB61.4 million in the same period of 2023.Average mobile MAUs[2] in the second quarter of 2024 were 44.1 million, compared with 50.3 million in the same period of 2023.The number of quarterly average paying users[3] in the second quarter of 2024 was 3.4 million, compared with 4.0 million in the same period of 2023.
The interim management committee of DouYu commented, “In the second quarter of 2024, we further enriched our content ecosystem and enhanced our diversified commercialization capabilities. In deepening our collaboration with streamers and game developers on content innovation and product upgrades, we successfully introduced diverse cooperative models that bring DouYu users more exceptional content experiences and an expanded array of gaming services. Our long-term development strategy remains centered on fostering a vibrant, diverse, game-centric content ecosystem by harnessing the strengths of DouYu’s deep-rooted streamer resources and premium content. We will continue to dynamically adapt our operating strategies amid the evolving macroeconomic and industry shifts, proactively addressing challenges and optimizing our platform’s content ecosystem to serve our overarching goal of long-term, sustainable growth.”
Mr. Hao Cao, Vice President of DouYu, commented, “Our strategic revenue diversification initiatives yielded encouraging results in the second quarter. Revenue from Innovative business, advertising and others (formerly known as advertising and other revenues) steadily increased to RMB242 million, contributing 23.4% of our total revenue, a significant improvement from 9.6% in the same period of 2023. Despite short-term financial pressure from macroeconomic headwinds and an evolving business landscape, we remain committed to rewarding the trust and support of our shareholders. In addition to our US$20 million share repurchase program announced in December 2023, which was successfully completed in July, we announced a US$300 million special cash dividend in early July. Looking ahead, we will continue to explore commercial diversification pathways, prioritizing the Company’s long-term, healthy growth to deliver value to our shareholders.”
Second Quarter 2024 Financial Results
Total net revenues in the second quarter of 2024 decreased by 25.9% to RMB1,032.0 million (US$142.0 million), compared with RMB1,392.2 million in the same period of 2023.
Livestreaming revenues in the second quarter of 2024 decreased by 37.2% to RMB790.1 million (US$108.7 million) from RMB1,258.3 million in the same period of 2023. The decrease was primarily due to the soft macroeconomic environment, in response to which we offered lower-priced products and reduced promotional events focused on paying user acquisition. As a result, there was a year-over-year decrease in both average revenue per paying user and the number of total paying users.
Innovative business, advertising and other revenues (formerly known as advertising and other revenues) in the second quarter of 2024 increased by 80.7% to RMB242.0 million (US$33.3 million) from RMB133.9 million in the same period of 2023. The increase was primarily driven by an increase in other revenues generated through our other innovative business, such as the voice-based social networking service.
Cost of revenues in the second quarter of 2024 decreased by 21.2% to RMB947.8 million (US$130.4 million) from RMB1,203.3 million in the same period of 2023.
Revenue-sharing fees and content costs in the second quarter of 2024 decreased by 18.1% to RMB803.4 million (US$110.6 million) from RMB981.3 million in the same period of 2023. The decrease was primarily due to a decrease in revenue-sharing fees aligned with decreased livestreaming revenues, as well as a decline in content costs resulting from improved cost management in streamer payments and copyrighted content, and partially offset by the increase in costs related to the innovative business.
Bandwidth costs in the second quarter of 2024 decreased by 33.0% to RMB79.6 million (US$11.0 million) from RMB118.8 million in the same period of 2023. The decline was primarily due to a year-over-year decrease in peak bandwidth usage.
Gross profit in the second quarter of 2024 was RMB84.2 million (US$11.6 million), compared with RMB188.9 million in the same period of 2023. The decline in gross profit was primarily due to the decrease in livestreaming revenues outpacing the decline in cost of revenues. Gross margin in the second quarter of 2024 was 8.2%, compared with 13.6% in the same period of 2023.
Sales and marketing expenses in the second quarter of 2024 decreased by 11.5% to RMB77.0 million (US$10.6 million) from RMB87.0 million in the same period of 2023. The decrease was mainly attributable to a decrease in staff-related expenses.
Research and development expenses in the second quarter of 2024 decreased by 29.4% to RMB50.1 million (US$6.9 million) from RMB71.0 million in the same period of 2023. The decrease was primarily due to a decrease in staff-related expenses.
General and administrative expenses in the second quarter of 2024 increased by 3.4% to RMB48.5 million (US$6.7 million) from RMB46.9 million in the same period of 2023. The increase was primarily due to increased expenses related to our employee streamlining initiatives.
Other operating expenses, net in the second quarter of 2024 were RMB28.2 million (US$3.9 million), compared with other operating income of RMB8.6 million in the same period of 2023.
Loss from operations in the second quarter of 2024 was RMB119.6 million (US$16.5 million), compared with RMB7.5 million in the same period of 2023.
Net loss in the second quarter of 2024 was RMB49.2 million (US$6.8 million), compared with net income of RMB6.8 million in the same period of 2023.
Adjusted net loss, which excludes the share of loss in equity method investments, and impairment loss of investments, was RMB45.5 million (US$6.3 million) in the second quarter of 2024, compared with adjusted net income of RMB61.4 million in the same period of 2023.
Basic and diluted net loss per ADS[4] in the second quarter of 2024 were both RMB1.58 (US$0.22). Adjusted basic and diluted net loss per ADS in the second quarter of 2024 were both RMB1.46 (US$0.20).
Cash and cash equivalents, restricted cash and bank deposits
As of June 30, 2024, the Company had cash and cash equivalents, restricted cash, restricted cash in other non-current assets, and short-term and long-term bank deposits of RMB6,561.3 million (US$902.9 million), compared with RMB6,855.5 million as of December 31, 2023.
Updates of Share Repurchase Program
On December 28, 2023, the Company announced that its board of directors had authorized a share repurchase program under which the Company may repurchase up to US$20 million of its ordinary shares in the form of ADSs during a period of up to 12 months commencing on January 1, 2024. As of June 30, 2024, the Company had repurchased an aggregate of US$11.2 million of its ADSs in the open market under this program. The allotment of US$20 million was used in full by July 18, 2024.
Conference Call Information
The Company will hold a conference call on September 12, 2024, at 7:00 a.m. Eastern Time (or 7:00 p.m. Beijing Time on the same day) to discuss the financial results. Listeners may access the call by dialing the following numbers:
International:
+1-412-317-6061
United States Toll-Free:
+1-888-317-6003
Mainland China Toll-Free:
4001-206115
Hong Kong Toll Free:
800-963976
Singapore Toll Free:
800-120-5863
Conference ID:
8687804
The replay will be accessible through September 19, 2024, by dialing the following numbers:
International:
+1-412-317-0088
United States Toll Free:
+1-877-344-7529
Conference ID:
1678388
A live and archived webcast of the conference call will also be available on the Company’s investor relations website at http://ir.douyu.com.
[1] “Adjusted net loss” is defined as net loss excluding share of loss in equity method investments, and impairment loss of investments. For more information, please refer to “Use of Non-GAAP Financial Measures” and “Reconciliations of GAAP and Non-GAAP Results” at the end of this press release.
[2] Refers to the number of mobile devices that launched our mobile apps in a given period. Average mobile MAUs for a given period is calculated by dividing (i) the sum of active mobile users for each month of such period by (ii) the number of months in such period.
[3] “Quarterly average paying users” refers to the average paying users for each quarter during a given period of time calculated by dividing (i) the sum of paying users for each quarter of such period by (ii) the number of quarters in such period. “Paying user” refers to a registered user that has purchased virtual gifts on our platform at least once during the relevant period.
[4] Every one ADS represents one ordinary share for the relevant period and calendar year.
About DouYu International Holdings Limited
Headquartered in Wuhan, China, DouYu International Holdings Limited (Nasdaq: DOYU) is a leading game-centric live streaming platform in China and a pioneer in the eSports value chain. DouYu operates its platform on both PC and mobile apps to bring users access to immersive and interactive games and entertainment livestreaming, a wide array of video and graphic contents, as well as opportunities to participate in community events and discussions. By nurturing a sustainable technology-based talent development system and relentlessly producing high-quality content, DouYu consistently delivers premium content through the integration of livestreaming, video, graphics, and virtual communities with a primary focus on games, especially on eSports. This enables DouYu to continuously enhance its user experience and pursue long-term healthy development. For more information, please see http://ir.douyu.com.
Use of Non-GAAP Financial Measures
Adjusted net income (loss) is calculated as net income (loss) adjusted for share of loss in equity method investments, and impairment loss of investments. Adjusted net income (loss) attributable to DouYu is calculated as net income (loss) attributable to DouYu adjusted for share of loss in equity method investments, and impairment loss of investments. Adjusted basic and diluted net income per ordinary share is non-GAAP net income attributable to ordinary shareholders divided by weighted average number of ordinary shares used in the calculation of non-GAAP basic and diluted net income per ordinary share. The Company adjusted the impact of (i) share of loss in equity method investments, (ii) impairment loss of investments to understand and evaluate the Company’s core operating performance. The non-GAAP financial measures are presented to enhance investors’ overall understanding of the Company’s financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP. Investors are encouraged to review the reconciliation of the historical non-GAAP financial measures to its most directly comparable GAAP financial measures. As non-GAAP financial measures have material limitations as analytical metrics and may not be calculated in the same manner by all companies, they may not be comparable to other similarly titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measures as a substitute for, or superior to, such metrics in accordance with U.S. GAAP.
For more information on these non-GAAP financial measures, please see the table captioned “Reconciliations of Non-GAAP Results” near the end of this release.
Exchange Rate Information
This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.2672 to US$1.00, the noon buying rate in effect on June 28, 2024, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB amounts could have been, or could be, converted, realized or settled in U.S. dollars, at that rate on June 28, 2024, or at any other rate.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and 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 results of operations and financial condition; the Company’s business strategies; general market conditions, in particular, the game live streaming market; the ability of the Company to retain and grow active and paying users; changes in general economic and business conditions in China; the impact of the COVID-19 to the Company’s business operations and the economy in China and globally; any adverse changes in laws, regulations, rules, policies or guidelines applicable to the Company; and assumptions underlying or related to any of the foregoing. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the Securities Exchange Commission. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.
Investor Relations Contact
In China:
Lingling Kong
DouYu International Holdings Limited
Email: ir@douyu.tv
Tel: +86 (10) 6508-0677
Andrea Guo
Piacente Financial Communications
Email: douyu@tpg-ir.com
Tel: +86 (10) 6508-0677
In the United States:
Brandi Piacente
Piacente Financial Communications
Email: douyu@tpg-ir.com
Tel: +1-212-481-2050
Media Relations Contact
In China:
Lingling Kong
DouYu International Holdings Limited
Email: pr_douyu@douyu.tv
Tel: +86 (10) 6508-0677
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(All amounts in thousands, except share, ADS, per share and per ADS data)
As of December 31
As of June 30
2023
2024
2024
ASSETS
RMB
RMB
US$ (1)
Current assets:
Cash and cash equivalents
4,440,131
4,061,140
558,831
Restricted cash
–
21
3
Short-term bank deposits
1,716,540
1,974,461
271,695
Accounts receivable, net
73,453
52,279
7,194
Prepayments
38,181
26,085
3,589
Amounts due from related parties
68,994
61,859
8,512
Other current assets, net
348,129
482,012
66,327
Total current assets
6,685,428
6,657,857
916,151
Property and equipment, net
13,808
8,525
1,172
Intangible assets, net
120,694
141,671
19,495
Long-term bank deposits
630,000
450,000
61,922
Investments
436,197
431,112
59,323
Right-of-use assets, net
22,792
5,925
815
Other non-current assets
163,184
138,797
19,099
Total non-current assets
1,386,675
1,176,030
161,826
TOTAL ASSETS
8,072,103
7,833,887
1,077,977
LIABILITIES AND SHAREHOLDERS’ EQUITY
LIABILITIES
Current liabilities:
Accounts payable
534,428
464,509
63,919
Advances from customers
12,911
10,194
1,403
Deferred revenue
315,969
271,061
37,299
Accrued expenses and other current liabilities
246,601
191,607
26,366
Amounts due to related parties
251,392
382,574
52,644
Lease liabilities due within one year
14,768
4,523
622
Total current liabilities
1,376,069
1,324,468
182,253
Lease liabilities
6,701
563
77
Total non-current liabilities
6,701
563
77
TOTAL LIABILITIES
1,382,770
1,325,031
182,330
(1) Translations of certain RMB amounts into U.S. dollars at a specified rate are solely for the convenience of the reader. Unless otherwise noted,
all translations from RMB to U.S. dollars are made at a rate of RMB7.2672 to US$1.00, the noon buying rate in effect on June 28, 2024, in the
H.10 statistical release of the Federal Reserve Board.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(All amounts in thousands, except share, ADS, per share and per ADS data)
As of December 31
As of June 30
2023
2024
2024
RMB
RMB
US$ (1)
SHAREHOLDERS’ EQUITY
Ordinary shares
23
23
3
Treasury shares
(911,217)
(991,370)
(136,417)
Additional paid-in capital
10,670,287
10,670,287
1,468,280
Accumulated deficit
(3,485,007)
(3,622,129)
(498,422)
Accumulated other comprehensive income
415,247
452,045
62,203
Total DouYu Shareholders’ Equity
6,689,333
6,508,856
895,647
Total Shareholders’ Equity
6,689,333
6,508,856
895,647
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
8,072,103
7,833,887
1,077,977
(1) Translations of certain RMB amounts into U.S. dollars at a specified rate are solely for the convenience of the reader. Unless otherwise noted,
all translations from RMB to U.S. dollars are made at a rate of RMB7.2672 to US$1.00, the noon buying rate in effect on June 28, 2024, in the
H.10 statistical release of the Federal Reserve Board.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)
(All amounts in thousands, except share, ADS, per share and per ADS data)
Three Months Ended
Six Months Ended
June 30,
2023
March 31,
2024
June 30,
2024
June 30,
2024
June 30,
2023
June 30,
2024
June 30,
2024
RMB
RMB
RMB
US$ (1)
RMB
RMB
US$ (1)
Net revenues
1,392,193
1,039,684
1,032,041
142,014
2,875,253
2,071,725
285,079
Cost of revenues
(1,203,294)
(930,678)
(947,823)
(130,425)
(2,509,888)
(1,878,501)
(258,490)
Gross profit
188,899
109,006
84,218
11,589
365,365
193,224
26,589
Operating income (expense)
Sales and marketing expenses
(87,047)
(75,570)
(76,963)
(10,590)
(177,733)
(152,533)
(20,989)
General and administrative expenses
(46,938)
(42,797)
(48,496)
(6,673)
(106,731)
(91,293)
(12,562)
Research and development expenses
(71,043)
(54,150)
(50,135)
(6,899)
(143,354)
(104,285)
(14,350)
Other operating income (expense), net
8,615
(103,428)
(28,189)
(3,879)
27,661
(131,617)
(18,111)
Total operating expenses
(196,413)
(275,945)
(203,783)
(28,041)
(400,157)
(479,728)
(66,012)
Loss from operations
(7,514)
(166,939)
(119,565)
(16,452)
(34,792)
(286,504)
(39,423)
Other expenses, net
(24,431)
–
(943)
(130)
(32,431)
(943)
(130)
Interest income
67,252
81,094
75,972
10,454
121,679
157,066
21,613
Foreign exchange gain, net
1,641
153
604
83
245
757
104
Income (loss) before income taxes and share of loss
in equity method investments
36,948
(85,692)
(43,932)
(6,045)
54,701
(129,624)
(17,836)
Income tax expense
–
–
(2,510)
(345)
–
(2,510)
(345)
Share of loss in equity method investments
(30,100)
(2,261)
(2,727)
(375)
(33,336)
(4,988)
(686)
Net income (loss)
6,848
(87,953)
(49,169)
(6,765)
21,365
(137,122)
(18,867)
Net income (loss) attributable to ordinary
shareholders of the Company
6,848
(87,953)
(49,169)
(6,765)
21,365
(137,122)
(18,867)
Net income (loss) per ordinary share
Basic
0.21
(2.77)
(1.58)
(0.22)
0.67
(4.36)
(0.60)
Diluted
0.21
(2.77)
(1.58)
(0.22)
0.67
(4.36)
(0.60)
Net income (loss) per ADS(2)
Basic
0.21
(2.77)
(1.58)
(0.22)
0.67
(4.36)
(0.60)
Diluted
0.21
(2.77)
(1.58)
(0.22)
0.67
(4.36)
(0.60)
Weighted average number of ordinary shares used in calculating net income (loss) per ordinary share
Basic
31,977,665
31,807,180
31,128,544
31,128,544
32,000,608
31,467,862
31,467,862
Diluted
31,977,665
31,807,180
31,128,544
31,128,544
32,000,608
31,467,862
31,467,862
Weighted average number of ADS used in calculating net income (loss) per ADS(2)
Basic
31,977,665
31,807,180
31,128,544
31,128,544
32,000,608
31,467,862
31,467,862
Diluted
31,977,665
31,807,180
31,128,544
31,128,544
32,000,608
31,467,862
31,467,862
(1) Translations of certain RMB amounts into U.S. dollars at a specified rate are solely for the convenience of the reader. Unless otherwise noted, all
translations from RMB to U.S. dollars are made at a rate of RMB7.2672 to US$1.00, the noon buying rate in effect on June 28, 2024, in the H.10 statistical
release of the Federal Reserve Board.
(2) Every one ADS represents one ordinary share.
RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS
(All amounts in thousands, except share, ADS, per share and per ADS data)
Three Months Ended
Six Months Ended
June 30,
2023
March 31,
2024
June 30,
2024
June 30,
2024
June 30,
2023
June 30,
2024
June 30,
2024
RMB
RMB
RMB
US$ (1)
RMB
RMB
US$ (1)
Loss from operations
(7,514)
(166,939)
(119,565)
(16,452)
(34,792)
(286,504)
(39,423)
Adjusted operating loss
(7,514)
(166,939)
(119,565)
(16,452)
(34,792)
(286,504)
(39,423)
Net income (loss)
6,848
(87,953)
(49,169)
(6,765)
21,365
(137,122)
(18,867)
Add:
Share of loss in equity method investments
30,100
2,261
2,727
375
33,336
4,988
686
Impairment loss of investments(2)
24,431
–
943
130
32,431
943
130
Adjusted net income (loss)
61,379
(85,692)
(45,499)
(6,260)
87,132
(131,191)
(18,051)
Net income (loss) attributable to DouYu
6,848
(87,953)
(49,169)
(6,765)
21,365
(137,122)
(18,867)
Add:
Share of loss in equity method investments
30,100
2,261
2,727
375
33,336
4,988
686
Impairment loss of investments
24,431
–
943
130
32,431
943
130
Adjusted net income (loss) attributable to DouYu
61,379
(85,692)
(45,499)
(6,260)
87,132
(131,191)
(18,051)
Adjusted net income (loss) per ordinary share
Basic
1.92
(2.69)
(1.46)
(0.20)
2.72
(4.17)
(0.57)
Diluted
1.92
(2.69)
(1.46)
(0.20)
2.72
(4.17)
(0.57)
Adjusted net income (loss) per ADS(3)
Basic
1.92
(2.69)
(1.46)
(0.20)
2.72
(4.17)
(0.57)
Diluted
1.92
(2.69)
(1.46)
(0.20)
2.72
(4.17)
(0.57)
Weighted average number of ordinary shares used in calculating Adjusted net income (loss) per ordinary share
Basic
31,977,665
31,807,180
31,128,544
31,128,544
32,000,608
31,467,862
31,467,862
Diluted
31,977,665
31,807,180
31,128,544
31,128,544
32,000,608
31,467,862
31,467,862
Weighted average number of ADS used in calculating net income (loss) per ADS(2)
Basic
31,977,665
31,807,180
31,128,544
31,128,544
32,000,608
31,467,862
31,467,862
Diluted
31,977,665
31,807,180
31,128,544
31,128,544
32,000,608
31,467,862
31,467,862
(1) Translations of certain RMB amounts into U.S. dollars at a specified rate are solely for the convenience of the reader. Unless otherwise noted, all
translations from RMB to U.S. dollars are made at a rate of RMB7.2672 to US$1.00, the noon buying rate in effect on June 28, 2024, in the H.10 statistical
release of the Federal Reserve Board.
(2) Impairment loss of investments was included in line item “Other expenses, net” of condensed consolidated statements of income (loss).
(3) Every one ADS represents one ordinary share.
View original content:https://www.prnewswire.com/news-releases/douyu-international-holdings-limited-reports-second-quarter-2024-unaudited-financial-results-302246277.html
SOURCE DouYu International Holdings Limited
You may like
Technology
Supreme Court Justice Michelle O’Bonsawin Joins Elementary Students for Live Virtual Q&A and Chapter One Storybook Reading on Sep. 24
Published
7 hours agoon
September 21, 2024By
The Honourable Justice Michelle O’Bonsawin, the first Indigenous person appointed to the Supreme Court of Canada, will join elementary students in a live virtual Q&A on September 24, from 1:00-2:15 pm ET, following a reading of the children’s storybook, “Daanis the Judge.” This event is hosted by Chapter One, a children’s literacy charity, to commemorate the National Day for Truth and Reconciliation. Lawyer Victoria Perrie, writer of “Daanis the Judge,” will read aloud the inspiring story, which is based on Justice O’Bonsawin’s remarkable journey. Illustrator EJ Miller-Larson will join Justice O’Bonsawin and Perrie in a moderated Q&A session with over 1900 elementary students.
TORONTO, Sept. 21, 2024 /PRNewswire-PRWeb/ — The Honourable Justice Michelle O’Bonsawin, the first Indigenous person to be appointed to the Supreme Court of Canada, will join elementary students in a live virtual Q&A following a live online reading of the original children’s storybook “Daanis the Judge,” on September 24, from 1:00-2:15 pm ET. The event will be hosted by Chapter One to mark the National Day for Truth and Reconciliation. Chapter One is a children’s literacy charity that provides 1:1 high-impact reading tutoring and co-creates original storybooks with participating communities nationwide.
Métis-Cree lawyer Victoria Perrie, who wrote “Daanis the Judge,” will lead the live reading. Students will ask questions during a moderated Q&A with Justice O’Bonsawin, Perrie, and illustrator EJ Miller-Larson, of the Fond du Lac Band and Oneida Nation.
“Daanis the Judge” was inspired by Justice O’Bonsawin’s trailblazing career. It tells the story of a young student, Daanis, who dreams of becoming a judge after learning about Justice O’Bonsawin’s achievements.
The story is part of Chapter One’s growing collection of original children’s e-storybooks, co-created with Indigenous writers, illustrators and communities. The e-storybooks celebrate Indigenous experiences and perspectives, and feature audio clips of Elders pronouncing foundational words in their communities’ first languages. All e-storybooks are provided for free through the Global Free Library.
About Chapter One
Chapter One (chapterone.org/ca) is a global nonprofit and registered Canadian charity that provides one-on-one early literacy tutoring programs to 2,300 children in eight provinces and territories across Canada. Its proven “short burst” high-impact tutoring approach—five-minute sessions, three to five times a week—is ideally suited to young children’s attention spans and aligns with the Science of Reading. In one of the largest randomized control trials conducted on early literacy instruction, researchers from Stanford University found that 7 out of 10 students receiving Chapter One high impact tutoring achieved phonics benchmarks by the end of Kindergarten, compared to 32% in the control group.
Children at risk of reading failure receive 1:1 reading support from trained, paid paraprofessional tutors through Chapter One’s online reading platform and custom software. Programs are delivered in-person and virtually in classrooms through agreements with schools and school boards, and at home on families’ smartphones, connecting struggling readers with individualized reading support—regardless of location and circumstance, even in some of the most geographically remote communities in Canada.
In addition to its tutoring programs, Chapter One collaborates with Indigenous communities to co-create children’s stories that represent the communities’ priorities and experiences and advance language revitalization efforts. The e-storybooks are provided for free online, as part of the Global Free Library.
Event details
The Live Virtual Q&A and Reading of “Daanis the Judge” with the Honourable Justice O’Bonsawin takes place on Tuesday, September 24, from 1:00-2:15 pm ET via Zoom. The event is open to elementary classes (Grades 1-6). Teachers/principals must register their classes in advance using this link.
Media Contact
Denise Orosa, Chapter One Canada, 1 4374224825, denise.orosa@chapterone.org, chapterone.org/ca
View original content to download multimedia:https://www.prweb.com/releases/supreme-court-justice-michelle-obonsawin-joins-elementary-students-for-live-virtual-qa-and-chapter-one-storybook-reading-on-sep-24-302254639.html
SOURCE Chapter One Canada
Technology
PEAC Institute Launches “24 Hour Pause for Peace: A Global Concert”
Published
9 hours agoon
September 21, 2024By
24 Hour Pause for Peace Will Be the Largest Peace Initiative Ever Worldwide, Unifying 96 Countries on Six Continents Through Music
MONTCLAIR, N.J., Sept. 21, 2024 /PRNewswire-PRWeb/ — On this International Day of Peace, PEAC Institute, part of the 2017 Nobel Peace Prize winning team, has launched “24 Hour Pause for Peace: A Global Concert,” the largest peace initiative ever organized worldwide through music.
On October 4, 2025, this ground-breaking program will activate a massive network of youth ensembles that spans 96 countries and territories across six continents and host two 24-hour commercial festivals featuring some of the biggest acts in music and entertainment. This extraordinary day-long event will be live-streamed globally, allowing millions to participate simultaneously.
“It has been 40 years since Live Aid and We Are the World historically unified and changed the world through music,” said Rebecca Irby, president and CEO of PEAC Institute. “With our planet riddled with post-pandemic fatigue, climate chaos, unsettling wars and more, we believe it is time to create a new trajectory for humanity by inviting everyone around the globe to a 24 hour pause for peace to enjoy the sounds of music and feel the transformative power of human connection,” Irby explained.
Additionally, 24 Hour Pause for Peace plans to amass more than 100 million ambassadors to sign an appeal to the United Nations calling for a 24 hour ceasefire during the children’s concerts and commercial music events. All countries are welcome to participate with no exceptions. One of Pause for Peace’s core beliefs is everyone has the right to be equally respected and heard, particularly in collectively calling for peace.
“Achieving this ambitious global endeavor requires the support and participation from the most impactful brands, organizations, and influential leaders, artists and celebrities,” said Jennifer McKenna, 24 Hour Pause for Peace CEO.
Pause for Peace is a $165 million global initiative. Currently, it is in its first phase of raising seed capital through consumer brand-aligned sponsorships and private donors. Funding for the program is tax-deductible through PEAC’s 501(c)(3) status.
“We have assembled an exceptional executive team of change agents in entertainment, production, consumer marketing, charitable development and global security to make this extraordinary, worldwide peace event happen.” McKenna added. “Now, we need companies, government entities, other nonprofits and donors who care about our cause for peace to join us in lifting up the biggest event of this generation.” To become involved in 24 Hour Pause for Peace: A Global Concert as a sponsor, partner or donor, sign up to be an Ambassador, or for more information, go to www.24hourpauseforpeace.org.
About PEAC Institute
PEAC Institute is a 501(c)(3) nonprofit organization based in the United States. PEAC stands for peace, education, art and communication. It was formed in 2016 through a campaign with partner organization, International Campaign to Abolish Nuclear Weapons (ICAN), which garnered a 2017 Nobel Peace Prize. PEAC now holds special consultative status with the Economic and Social Council of the United Nations and has a global presence working with countries and territories worldwide to reach the most marginalized youth through art and communication activities to help them explore and express. For more information on PEAC Institute, go to www.peacinstitute.org.
Media Contact
Chadwick Boyd, Pause for Peace, 1 4046060611, chadwick@24hourpauseforpeace.org, www.24hourpauseforpeace.org
View original content to download multimedia:https://www.prweb.com/releases/peac-institute-launches-24-hour-pause-for-peace-a-global-concert-302254527.html
SOURCE Pause for Peace
Technology
Global Times: China opens 12 nuclear research facilities to global scientists
Published
10 hours agoon
September 21, 2024By
The involved facilities span areas such as basic nuclear research, isotope production, nuclear environment simulation, equipment testing, and radioactive waste treatment and disposal.
VIENNA, Sept. 21, 2024 /PRNewswire/ — China will open 12 nuclear research facilities and testing platforms to international scientists and institutions to enhance global cooperation, a senior Chinese official said here on Monday.
These include the China Advanced Research Reactor, the new-generation tokamak device Huanliu-3, and the Beishan Underground Research Laboratory, Liu Jing, vice chairman of the China Atomic Energy Authority (CAEA), said at a meeting on the sidelines of the International Atomic Energy Agency’s (IAEA) annual general conference.
The facilities span areas such as basic nuclear research, isotope production, nuclear environment simulation, equipment testing, and radioactive waste treatment and disposal.
Monday’s meeting, themed “Share for Development,” was organized by the CAEA to promote international cooperation in nuclear technology research and development, as China marks the 40th anniversary of its accession to the IAEA.
Yu Jianfeng, chairman of China National Nuclear Corporation, said at the event that the company aims to deepen cooperation with the IAEA and expand international collaboration. He expressed hope that opening China’s nuclear research facilities will contribute to advancing nuclear technology globally.
IAEA’s Deputy Director General Mikhail Chudakov commended China’s remarkable achievements in nuclear energy development and highlighted the long-standing, fruitful relationship between the IAEA and the CAEA.
Welcoming China’s decision to open up more of its nuclear research and development facilities, Chudakov said the move will further strengthen the agency’s technical capacity to support its member states.
On Monday evening, the CAEA and China’s permanent mission to the United Nations (UN) and other international organizations in Vienna jointly held a reception at the UN headquarters in Vienna to celebrate the 40th anniversary of China’s accession to the IAEA. More than 200 participants, including IAEA representatives and foreign envoys to Vienna, attended the event.
Li Song, China’s permanent representative to the UN and other international organizations in Vienna, said at the reception that China and the IAEA have expanded practical cooperation and jointly promoted the development of nuclear energy over the past 40 years.
China, he said, will continue to strengthen collaboration with the IAEA and its member states to address emerging challenges in international security, safeguard the global non-proliferation regime, and promote the use of nuclear energy and technology for the benefit of the Global South.
At the reception, Liu, Li and IAEA Director General Rafael Grossi jointly unveiled a bronze statue of Qian Sanqiang, a renowned Chinese nuclear physicist and one of the founders of China’s nuclear industry.
The statue, donated by China, will be permanently displayed at the IAEA headquarters, alongside sculptures of Polish-French physicist Marie Curie and other prominent figures who have made significant contributions to the peaceful use of nuclear energy.
Contact: xutianshu@globaltimes.com.cn
View original content:https://www.prnewswire.com/news-releases/global-times-china-opens-12-nuclear-research-facilities-to-global-scientists-302254830.html
SOURCE Global Times
CFTC slaps $36M fine on man for 5-year crypto investor fraud
Near AI Tech Showcase recap Singapore Token2049
Trump buys burgers with BTC, Arthur Hayes skeptical on rate cut, and more: Hodler’s Digest, Sept. 15 – 21
Whiteboard Series with NEAR | Ep: 45 Joel Thorstensson from ceramic.network
Peloton Unveils Holiday 2022 Creative Campaign Highlighting How Motivation Transcends Beyond the Workout
These ’90s fashion trends are making a comeback in 2017
Why You Should Build on #NEAR – Co-founder Illia Polosukhin at CV Labs
Whiteboard Series with NEAR | Ep: 45 Joel Thorstensson from ceramic.network
NEAR End of Year Town Hall 2021: The Open Web World, MetaBUILD 2 Hackathon and 2021 recap
Trending
-
Coin Market5 days ago
Microsoft to open two AI centers in Abu Dhabi
-
Technology5 days ago
Healthcare Staffing Market is expected to generate a revenue of USD 89.12 Billion by 2031, Globally, at 7.5% CAGR: Verified Market Research®
-
Near Videos4 days ago
NEAR AI Office Hours
-
Coin Market2 days ago
Feds end Bitcoin bandits’ luxury life fueled by $230M crypto scam
-
Near Videos5 days ago
TOBASCO from Particle Network
-
Coin Market3 days ago
Borderless Capital announces $100M for third DePIN fund
-
Coin Market3 days ago
Bitcoin price attempts to turn the tide after Fed’s 0.5% rate cut
-
Coin Market3 days ago
US lawmaker accuses SEC of ‘enforcement abuse’ against crypto firms