Technology
111, Inc. Announces Third Quarter 2024 Unaudited Financial Results
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2 hours agoon
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Maintained Operational Profitability for the Third Consecutive QuarterOperating Expenses as a Percentage of Revenues Decreased 160 Basis Points YoYHeld Positive Operating Cash Flow for Three Consecutive Quarters
SHANGHAI, Nov. 27, 2024 /PRNewswire/ — 111, Inc. (“111” or the “Company”) (NASDAQ: YI), a leading tech-enabled healthcare platform company committed to reshaping the value chain of healthcare industry by digitally empowering the upstream and downstream in China, today announced its unaudited financial results for the third quarter ended September 30, 2024.
Third Quarter 2024 Highlights
Net revenues were RMB3.6 billion (US$513.1 million), remaining relatively flat compared to the same quarter last year.Gross segment profit (1) was RMB 210.6 million (US$ 30.0 million) increased by 10.5% year-over-year.Total operating expenses were RMB208.2 million (US$29.7 million), an improvement of 23.2% compared to RMB271.0 million in the same quarter of last year. As a percentage of net revenues, total operating expenses decreased by 160 basis points to 5.8% from 7.4% in the same quarter of last year, demonstrating continuous improvement in the Company’s operational efficiency.Income from operations was RMB2.4 million (US$0.3 million), compared to loss from operations of RMB80.4 million in the same quarter of last year. 111 maintained operational profitability for the third consecutive quarter.Non-GAAP income from operations (2) was RMB7.1 million (US$1.0 million), compared to Non-GAAP loss from operations of RMB54.0 million in the same quarter of last year.Net cash from operating activities was RMB109.9 million (US$15.7 million). The Company has achieved positive operating cash flow for three consecutive quarters.
(1) Gross segment profit represents net revenues less cost of goods sold.
(2) Non-GAAP income from operations represents income from operations excluding share-based compensation expenses.
Mr. Junling Liu, Co-Founder, Chairman, and Chief Executive Officer of 111, commented, “While the macroeconomic environment in China continues to present challenges, we are proud of our ability to maintain operational profitability for the third consecutive quarter. This achievement is a testament to the strength of our business model as a one-stop shopping platform that offers the most comprehensive selection of pharmaceutical products at competitive prices. It also highlights our commitment to operational efficiency across the organization. As a result, income from operations in Q3 reached RMB2.4 million, a significant improvement from an operational loss of RMB80.4 million in the prior year.”
Mr. Liu added, “We gained greater operational efficiency through diligent cost management, ongoing infrastructure investments, and effective staffing arrangements, all of which has enabled us to navigate an unfavorable consumer spending environment while delivering solid performance results. Operating expenses were 5.8% of revenues, a reduction of 160 basis points compared to the previous year, while non-GAAP operating expenses as a percentage of revenues decreased by 100 basis points to 5.7%. We aim to lead the pharmaceutical e-commerce sector in efficiency and sharpen our competitive advantages. As we scale and optimize operations, we expect further cost savings, which will be reinvested into growth initiatives, including technological advancements, market expansion, and client base growth, driving future profitability.”
“We are strengthening our core competitiveness in digitalization through advancements across multiple areas, laying a strong foundation for an agile, highly efficient, and customer-centric business that can swiftly adapt to evolving industry needs. Additionally, we’ve bolstered our supply chain with an expanded transshipment network and new fulfillment centers, further enhancing our service capabilities.”
“Despite challenges, we are still confident in the long-term opportunities ahead. Our investments in AI and digital technologies are not only providing industry-leading efficiency and reshaping the healthcare value chain, but also positioning us to capture significant shifts in the pharmaceutical industry—particularly the unstoppable trend of digital transformation, the growing demand for out-of-hospital drug distribution, and the expansion of the silver economy. By deepening our partnerships with pharmaceutical companies, expanding our fulfillment network, refining our digital platforms, and prioritizing new growth engines, we are well-positioned to engage more industry stakeholders, meet the needs of a broad customer base, and generate sustained growth.”
Third Quarter 2024 Financial Results
Net revenues were RMB3.6 billion (US$513.1 million), representing a decrease of 1.8% from RMB3.7 billion in the same quarter of last year.
(In thousands RMB)
For the three months ended September 30,
2023
2024
YoY
B2B Net Revenue
Product
3,556,749
3,514,298
-1.2 %
Service
20,671
21,731
5.1 %
Sub-Total
3,577,420
3,536,029
-1.2 %
Cost of Products Sold(3)
3,406,320
3,340,998
-1.9 %
Segment Profit
171,100
195,031
14.0 %
Segment Profit %
4.8 %
5.5 %
(In thousands RMB)
For the three months ended September 30,
2023
2024
YoY
B2C Net Revenue
Product
82,538
61,031
-26.1 %
Service
5,287
3,615
-31.6 %
Sub-Total
87,825
64,646
-26.4 %
Cost of Products Sold
68,301
49,061
-28.2 %
Segment Profit
19,524
15,585
-20.2 %
Segment Profit %
22.2 %
24.1 %
(3) For segment reporting purposes, purchase rebates are allocated to the B2B segment and B2C segments primarily based on the amount of cost of products sold for each segment. Cost of products sold does not include other direct costs related to cost of product sales such as shipping and handling expense, payroll and benefits of logistic staff, logistic centers rental expenses and depreciation expenses, which are recorded in the fulfillment expenses. Cost of service revenue is recorded in the operating expense.
Operating costs and expenses were RMB3.6 billion (US$512.8 million), representing a decrease of 3.9% from RMB3.7 billion in the same quarter of last year.
Cost of products sold was RMB3.4 billion (US$483.1 million), representing a decrease of 2.4% from RMB3.5 billion in the same quarter of last year.Fulfillment expenses were RMB100.0 million (US$14.2 million), representing a decrease of 1.6% from RMB101.6 million in the same quarter of last year. Fulfillment expenses accounted for 2.8% of net revenues this quarter, maintaining the same as last year.Selling and marketing expenses were RMB77.0 million (US$11.0 million), representing a decrease of 19.4% from RMB95.5 million in the same quarter of last year. Excluding the share-based compensation expenses of RMB1.6 million for the quarter and RMB5.1 million for the same quarter last year, respectively, selling and marketing expenses as a percentage of net revenues accounted for 2.1% in the quarter as compared to 2.5% in the same quarter of last year.General and administrative expenses were RMB14.4 million (US$2.0 million), representing a decrease of 68.7% from RMB45.8 million in the same quarter of last year. Excluding the share-based compensation expenses of RMB2.3 million for the quarter and RMB16.8 million for the same quarter last year, respectively, general and administrative expenses as a percentage of net revenues accounted for 0.3% in the quarter as compared to 0.8% in the same quarter of last year.Technology expenses were RMB17.5 million (US$2.5 million), representing a decrease of 30.9% from RMB25.4 million in the same quarter of last year. Excluding the share-based compensation expenses of RMB0.9 million for the quarter and RMB4.5 million for the same quarter last year, respectively, technology expenses as a percentage of net revenues accounted for 0.5% in the quarter as compared to 0.6% in the same quarter of last year.
Income from operations was RMB2.4 million (US$0.3 million), compared to loss from operations of RMB80.4 million in the same quarter of last year.
Non-GAAP income from operations was RMB7.1 million (US$1.0 million), compared to non-GAAP loss from operations of RMB54.0 million in the same quarter of last year.
Net loss was RMB3.5 million (US$0.5 million), representing an improvement of 96% from RMB83.5 million in the same quarter of last year. As a percentage of net revenues, net loss amounted to 0.1% in the quarter, down from 2.3% in the same quarter of last year.
Non-GAAP net income (4) was RMB1.3 million (US$0.2 million), compared to non-GAAP net loss of RMB57.1 million in the same quarter of last year.
Net loss attributable to ordinary shareholders was RMB17.1 million (US$2.4 million), representing an improvement of 82% from RMB93.3 million in the same quarter of last year. As a percentage of net revenues, net loss attributable to ordinary shareholders accounted for 0.5% in the quarter, down from 2.5% in the same quarter of last year.
Non-GAAP net loss attributable to ordinary shareholders (5) was RMB12.4 million (US$1.8 million), representing an improvement of 82% from RMB66.9 million in the same quarter of last year. As a percentage of net revenues, non-GAAP net loss attributable to ordinary shareholders, accounted for 0.3% in the quarter, down from 1.8% in the same quarter of last year.
(4) Non-GAAP net income represents net income excluding share-based compensation expenses, net of tax. Considering the impact of accretion of redeemable non-controlling interest for the third quarter 2024, non-GAAP net income is used as a meaningful measurement of the operation performance of the Company.
(5) Non-GAAP net loss attributable to ordinary shareholders represents net loss attributable to ordinary shareholders excluding share-based compensation expenses, net of tax.
As of September 30, 2024, the Company had cash and cash equivalents, restricted cash and short-term investments of RMB614.4 million (US$87.6 million), compared to RMB673.7 million as of December 31, 2023. To date, the Company has a total outstanding amount of RMB1.1 billion, which has been included in the balances of redeemable non-controlling interests and accrued expenses and other current liabilities, owed to a group of investors of 1 Pharmacy Technology pursuant to their equity investments made in 2020 as previously disclosed. 111 received redemption requests from certain of such investors in accordance with the terms of their initial investments in 1 Pharmacy Technology. Following communication and negotiation, the Company has reached agreements and/or commitment letters with investors representing approximately 90% of the total amount to reschedule the repayments, allowing for phased repayments at extended periods, if the holders exercise their redemption right. The Company has paid a portion of the repurchase funds upon signing of the agreements. Additionally, the Company is in ongoing discussions with investors holding the remaining approximately 10% of the total amount. For more information about the terms of 111’s arrangements with these investors, see “Item 5. Operating and Financial Review and Prospects—B. Liquidity and Capital Resources” in the Company’s annual report for the fiscal year ended December 31, 2023.
Conference Call
111’s management team will host an earnings conference call at 7:30 AM U.S. Eastern Time on Wednesday, November 27, 2024 (8:30 PM Beijing Time on the same day).
Details for the conference call are as follows:
Event Title: 111, Inc. Third Quarter 2024 Unaudited Financial Results
Registration Link: https://s1.c-conf.com/diamondpass/10042738-te7sgd.html
All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registering, each participant will receive a set of participant dial-in numbers, the Direct Event passcode, and a unique Registration ID, which can be used to join the conference call.
Please dial in 15 minutes before the call is scheduled to begin and provide the Direct Event passcode and unique Registration ID you have received upon registering to join the call.
A telephone replay of the call will be available after the conclusion of the conference call until December 4, 2024 via:
China: 4001 209 216
United States: +1 855 883 1031
International: +61 7 3107 6325
Conference ID: 10042738
A live and archived webcast of the conference call will be available on the website at https://edge.media-server.com/mmc/p/3nkscjv6.
Use of Non-GAAP Financial Measures
In evaluating the business, the Company considers and uses non-GAAP income (loss) from operations, non-GAAP net income (loss), non-GAAP net loss attributable to ordinary shareholders, and non-GAAP loss per ADS, as supplemental measures to review and assess its operating performance. The Company defines non-GAAP income (loss) from operations as income (loss) from operations excluding share-based compensation expenses. The Company defines non-GAAP net income (loss) as net loss excluding share-based compensation expenses, net of tax. The Company defines non-GAAP net loss attributable to ordinary shareholders as net loss attributable to ordinary shareholders excluding share-based compensation expenses, net of tax. The Company defines non-GAAP loss per ADS as net loss attributable to ordinary shareholders per ADS excluding share-based compensation expenses, net of tax per ADS. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP.
The Company believes that non-GAAP income (loss) from operations, non-GAAP net income (loss), non-GAAP net loss attributable to ordinary shareholders, and non-GAAP loss per ADS help identify underlying trends in its business that could otherwise be distorted by the effect of certain expenses that it includes in income (loss) from operations and net loss. Share-based compensation expenses is a non-cash expense that varies from period to period. As a result, management excludes the items from its internal operating forecasts and models. Management believes that the adjustments for share-based compensation expenses provide investors with a reasonable basis to measure the company’s core operating performance, in a more meaningful comparison with the performance of other companies. The Company believes that non-GAAP income (loss) from operations, non-GAAP net income (loss), non-GAAP net loss attributable to ordinary shareholders, and non-GAAP loss per ADS provide useful information about its operating results, enhances the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by the management in their financial and operational decision-making.
The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using non-GAAP income (loss) from operations, non-GAAP net income (loss), non-GAAP net loss attributable to ordinary shareholders, or non-GAAP loss per ADS is that it does not reflect all items of income and expense that affect the Company’s operations. Further, the non-GAAP financial measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.
The Company compensates for these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP measures, all of which should be considered when evaluating the Company’s performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure.
Reconciliation of the non-GAAP financial measures to the most comparable U.S. GAAP measures is included at the end of this press release.
Exchange Rate Information Statement
This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.0176 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of September 30, 2024.
Forward-Looking Statements
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 tech-enabled healthcare platform company committed to reshaping the value chain of healthcare industry by digitally empowering the upstream and downstream in China. The Company provides consumers with better access to pharmaceutical products and healthcare services directly through its online retail pharmacy, 1 Pharmacy, and indirectly through its offline virtual pharmacy network. The Company also offers online healthcare services through its internet hospital, 1 Clinic, which provides consumers with cost-effective and convenient online consultation, electronic prescription service, and patient management service. In addition, the Company’s online platform, 1 Medicine, serves as a one-stop shop for pharmacies to source a vast selection of pharmaceutical products. With the largest virtual pharmacy network in China, 111 enables offline pharmacies to better serve their customers with cloud-based services. 111 also provides an omni-channel drug commercialization platform to its strategic partners, which includes services such as digital marketing, patient education, data analytics, and pricing monitoring.
For more information on 111, please visit: http://ir.111.com.cn/.
For more information, please contact:
111, Inc.
Investor Relations
Email: ir@111.com.cn
111, Inc.
Media Relations
Email: press@111.com.cn
Phone: +86-021-2053 6666 (China)
111, Inc.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except for share and per share data)
As of
As of
December 31, 2023
September 30, 2024
RMB
RMB
US$
ASSETS
Current assets:
Cash and cash equivalents
603,523
531,981
75,807
Restricted cash
20,025
32,430
4,621
Short-term investments
50,143
50,000
7,125
Accounts receivable, net
536,823
425,159
60,585
Notes receivable
77,598
80,853
11,521
Inventories
1,419,396
1,532,170
218,332
Prepayments and other current assets
225,823
234,295
33,388
Total current assets
2,933,331
2,886,888
411,379
Property and equipment, net
34,340
25,558
3,642
Intangible assets, net
2,256
1,643
234
Long-term investments
2,000
1,000
142
Other non-current assets
13,310
15,684
2,235
Operating lease right-of-use asset
103,799
98,909
14,094
Total assets
3,089,036
3,029,682
431,726
LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ DEFICIT
Current liabilities:
Short-term borrowings
338,075
168,517
24,013
Accounts payable
1,588,693
1,912,109
272,474
Accrued expense and other current liabilities
818,295
569,246
81,116
Total current liabilities
2,745,063
2,649,872
377,603
Long-term operating lease liabilities
62,624
63,969
9,116
Other non-current liabilities
5,245
8,331
1,187
Total liabilities
2,812,932
2,722,172
387,906
MEZZANINE EQUITY
Redeemable non-controlling interests
870,825
943,774
134,487
SHAREHOLDERS’ DEFICIT
Ordinary shares Class A
32
33
5
Ordinary shares Class B
25
25
3
Treasury shares
(5,887)
(5,887)
(839)
Additional paid-in capital
3,169,114
3,167,794
451,407
Accumulated deficit
(3,819,249)
(3,864,151)
(550,637)
Accumulated other comprehensive income
72,514
72,602
10,346
Total shareholders’ deficit
(583,451)
(629,584)
(89,715)
Non-controlling interest
(11,270)
(6,680)
(952)
Total deficit
(594,721)
(636,264)
(90,667)
Total liabilities, mezzanine equity and deficit
3,089,036
3,029,682
431,726
111, Inc.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(In thousands, except for share and per share data)
For the three months ended September 30,
For the nine months ended September 30,
2023
2024
2023
2024
RMB
RMB
US$
RMB
RMB
US$
Net revenues
3,665,245
3,600,675
513,092
10,839,503
10,553,474
1,503,858
Operating costs and expenses:
Cost of products sold
(3,474,621)
(3,390,059)
(483,080)
(10,204,779)
(9,926,727)
(1,414,547)
Fulfillment expenses
(101,602)
(99,977)
(14,247)
(299,202)
(276,559)
(39,409)
Selling and marketing expenses
(95,523)
(76,954)
(10,966)
(274,880)
(237,724)
(33,875)
General and administrative expenses
(45,839)
(14,367)
(2,047)
(126,235)
(50,747)
(7,231)
Technology expenses
(25,386)
(17,549)
(2,501)
(75,243)
(54,225)
(7,727)
Other operating (expenses) income, net
(2,696)
602
86
(2,723)
1,941
277
Total operating costs and expenses
(3,745,667)
(3,598,304)
(512,755)
(10,983,062)
(10,544,041)
(1,502,512)
(Loss) Income from operations
(80,422)
2,371
337
(143,559)
9,433
1,346
Interest income
2,362
1,533
218
6,517
5,574
794
Interest expense
(5,433)
(7,810)
(1,113)
(14,525)
(23,067)
(3,287)
Foreign exchange gain (loss)
79
642
91
(1,095)
40
6
Other income (loss), net
38
(193)
(28)
4,552
(116)
(17)
Loss before income taxes
(83,376)
(3,457)
(495)
(148,110)
(8,136)
(1,158)
Income tax expense
(102)
(5)
(1)
(102)
(93)
(13)
Net loss
(83,478)
(3,462)
(496)
(148,212)
(8,229)
(1,171)
Net loss attributable to non-controlling interest
4,315
848
121
7,837
(431)
(61)
Net loss attributable to redeemable non-controlling interest
7,253
438
62
12,529
1,168
166
Adjustment attributable to redeemable non-controlling interest
(21,391)
(14,931)
(2,128)
(54,481)
(37,410)
(5,331)
Net loss attributable to ordinary shareholders
(93,301)
(17,107)
(2,441)
(182,327)
(44,902)
(6,397)
Other comprehensive loss
Unrealized gains of available-for-sale securities,
1,013
(407)
(58)
3,936
(753)
(107)
Realized gains of available-for-sale debt securities
(841)
407
58
(3,558)
896
128
Foreign currency translation adjustments
(1,690)
(1,184)
(169)
4,234
(55)
(8)
Comprehensive loss
(94,819)
(18,291)
(2,610)
(177,715)
(44,814)
(6,384)
Loss per ADS:
Basic and diluted
(1.10)
(0.20)
(0.02)
(2.16)
(0.52)
(0.08)
Weighted average number of shares used in computation of loss per share
Basic and diluted
169,088,015
171,938,537
171,938,537
168,179,779
171,526,062
171,526,062
111, Inc.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
For the three months ended September 30,
For the nine months ended September 30,
2023
2024
2023
2024
RMB
RMB
US$
RMB
RMB
US$
Net cash provided by (used in) operating activities
35,208
109,865
15,656
(250,230)
311,563
44,397
Net cash provided by (used in) investing activities
5,163
49,845
7,103
91,913
(141)
(20)
Net cash provided by (used in) financing activities
110,452
(110,510)
(15,748)
204,230
(370,453)
(52,789)
Effect of exchange rate changes on cash and cash equivalents, and restricted cash
2,621
(313)
(45)
3,514
(106)
(15)
Net increase (decrease) in cash and cash equivalents, and restricted cash
153,444
48,887
6,966
49,427
(59,137)
(8,427)
Cash and cash equivalents, and restricted cash at the beginning of the period
612,774
515,524
73,462
716,791
623,548
88,855
Cash and cash equivalents, and restricted cash at the end of the period
766,218
564,411
80,428
766,218
564,411
80,428
111, Inc.
Unaudited Reconciliation of GAAP and Non-GAAP Results
(In thousands, except for share and per share data)
For the three months ended September 30,
For the nine months ended September 30,
2023
2024
2023
2024
RMB
RMB
US$
RMB
RMB
US$
(Loss) Income from operations
(80,422)
2,371
337
(143,559)
9,433
1,346
Add: Share-based compensation expenses
26,402
4,756
678
74,818
15,122
2,155
Non-GAAP (loss) income from operations
(54,020)
7,127
1,015
(68,741)
24,555
3,501
Net loss
(83,478)
(3,462)
(496)
(148,212)
(8,229)
(1,171)
Add: Share-based compensation expenses, net of tax
26,402
4,756
678
74,818
15,122
2,155
Non-GAAP net (loss) income
(57,076)
1,294
182
(73,394)
6,893
984
Net loss attributable to ordinary shareholders
(93,301)
(17,107)
(2,441)
(182,327)
(44,902)
(6,397)
Add: Share-based compensation expenses, net of tax
26,402
4,756
678
74,818
15,122
2,155
Non-GAAP net loss attributable to ordinary shareholders
(66,899)
(12,351)
(1,763)
(107,509)
(29,780)
(4,242)
Loss per ADS(6): Basic and diluted
(1.10)
(0.20)
(0.02)
(2.16)
(0.52)
(0.08)
Add: Share-based compensation expenses per ADS(6), net of tax
0.32
0.06
0.00
0.88
0.18
0.02
Non-GAAP loss per ADS(6)
(0.78)
(0.14)
(0.02)
(1.28)
(0.34)
(0.06)
(6) Every one ADS represents two Class A ordinary shares.
View original content:https://www.prnewswire.com/news-releases/111-inc-announces-third-quarter-2024-unaudited-financial-results-302317201.html
SOURCE 111, Inc.
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November 27, 2024By
TOKYO, Nov. 27, 2024 /PRNewswire/ — KLab Inc., a leader in online mobile games, announced that its hit 3D action game Bleach: Brave Souls will be holding the Anime Broadcast Celebration Special: Christmas Zenith Summons: White Night from November 30. See the original press release (https://www.klab.com/en/press/) for more information.
Anime Broadcast Celebration Special: Christmas Zenith Summons: White Night
Event Period: Saturday, November 30 16:00 to Sunday, December 15 15:59 (JST/UTC+9)
A Summons will be held featuring Christmas 2024 versions of Retsu Unohana, Nemu Kurotsuchi, and Isane Kotetsu.
The draw rate for 5 Star characters in this Summons is 6%.
One 5 Star character is guaranteed every five Steps of the x10 Summons except for Step 25 and Step 50.
On Steps 25 and 50, players will be given Tickets to receive a 5 Star character of their choosing.
Free Thousand-Year Blood War Summons
Event Period: Saturday, November 30 16:00 to Tuesday, December 31 15:59 (JST/UTC+9)
Don’t miss out on a special one-time Summons that guarantees a 5 Star Thousand-Year Blood War character.
Free Seasonal Brave Souls Summons
Event Period: Saturday, November 30 16:00 to Thursday, December 19 15:59 (JST/UTC+9)
One free x10 Summons every day for up to ten days.
Santa’s Helpers Campaign
Campaign Period: Saturday, November 30 16:00 to Sunday, December 15 23:59 (JST/UTC+9)
All participants in this campaign will receive digital Christmas cards.
Plus, an additional 50 winners will also be selected to receive a Brave Souls original greeting card set.
How to Enter
1. Follow the Bleach: Brave Souls official X account (@Bleachbrs_en).
2. Post with a character you have selected to help from the campaign post.
Please check the Brave Souls official X account or the news on the Brave Souls official website for more details.
BLEACH Soul Puzzle Update Campaign
To celebrate the addition of Support Characters to BLEACH Soul Puzzle, players will be given presents alongside Support Items in a special login bonus.
Please check the BLEACH Soul Puzzle in-game news or the official X account (@BLEACHPuzzle_en) for more details.
*Please note that campaign contents and the campaign period are subject to change without notice.
*Please check the in-game news for further details.
Overview of Bleach: Brave Souls
Platform: iOS /Android™/PC/PS4™/Nintendo Switch/Xbox One
Genre: 3D Action
Price: Free-to-play (In-game purchases available)
Official Website: https://www.bleach-bravesouls.com/en/
Official X Account: @bleachbrs_en
Official Facebook Page: https://www.facebook.com/BleachBS.en
Official YouTube Channel: https://www.youtube.com/channel/UC1QJ4uNQeijEx0jlo4nqauA
Official Instagram: @bleachbravesouls_official
Official Discord: https://discord.com/invite/bleachbravesouls
Official TikTok: https://www.tiktok.com/@bleachbrs_en_official
Copyright: © Tite Kubo/Shueisha, TV TOKYO, dentsu, Pierrot
© KLabGames
Download Here:
App Store: https://itunes.apple.com/app/id1003168863
Google Play: https://play.google.com/store/apps/details?id=com.klab.bleach
Steam: https://store.steampowered.com/app/1201240/BLEACH_Brave_Souls
PlayStation Store: https://store.playstation.com/concept/10002097
Nintendo eShop: https://nintendo.com/us/store/products/bleach-brave-souls-switch
Xbox Store: https://www.xbox.com/games/store/bleach-brave-souls/9nnrnx65nknb
View original content to download multimedia:https://www.prnewswire.com/news-releases/bleach-brave-souls-anime-broadcast-celebration-special-christmas-zenith-summons-white-night-to-begin-soon-with-retsu-nemu-and-others-as-new-5-star-characters-302317174.html
SOURCE KLab Inc.
Technology
Maran Timber Sdn. Bhd. Pioneers EUDR-Compliant Shipments from Malaysia to Europe
Published
5 seconds agoon
November 27, 2024By
Image link:
https://drive.google.com/file/d/1oVhRggdwfKYbMWyEHqtQNvdYnoCeLhaZ/view?usp=drive_link
KUALA LUMPUR, Malaysia, Nov. 27, 2024 /PRNewswire/ — Maran Timber Sdn. Bhd., a leading Malaysian timber exporter, has become the first company in the country to achieve European Union Deforestation Regulation (EUDR) compliance using the cutting-edge Proteus platform from #dltledgers, a Singapore-based digital supply chain solutions provider. This milestone marks a significant advancement for the Malaysian timber industry, enabling seamless, transparent, and compliant shipments to the European Union (EU).
The EUDR, which came into force in June 2023, aims to curb global deforestation by regulating commodities that contribute to environmental degradation. As part of its commitment to sustainability and responsible forestry, Maran Timber is leveraging the multi-party Proteus framework to ensure the traceability of its timber exports, demonstrating compliance with the strict EU regulations. The platform offers real-time auditability and immutable record-keeping, ensuring transparency and accountability from upstream forestry activities to downstream manufacturing and shipment processes.
With over 60 years of experience, Maran Timber is no stranger to innovation, but this latest partnership with #dltledgers marks a pivotal shift towards digitalization and enhanced collaboration across its supply chain. The Proteus platform integrates advanced technologies such as blockchain and AI to streamline multi-party transactions, from raw material sourcing to regulatory submissions. This ensures not only compliance but also increased efficiency and sustainability in every shipment.
“We are proud to be the first timber company in Malaysia to implement EUDR-compliant shipments using #dltledgers’ Proteus framework. This partnership is a game-changer for us, allowing us to meet the stringent demands of the EU market while supporting our sustainability goals,” said Mr. Kay Yip Ng, CEO of Maran Timber Sdn. Bhd. “This collaboration aligns with our vision to build a digitalized ecosystem and further strengthens our commitment to sustainability across the entire supply chain.”
“Proetus is a game changing multi-party collaboration platform for global Compliance and sustainability, with industry specific models for faster customer journey towards a circular economy. We work with multiple industries across the globe; EUDR compliance and submission are deployed at rapid speed, authenticated at real time for compliant exports” said Mr. Samir Neji, CEO of #dltledgers. “We are ecstatic to support the Malaysian Timber Industry. Maran Timber paves the way for further leadership and collaboration across the industry, driving compliance, sustainability, and innovation.”
About Maran Timber Sdn. Bhd.
Maran Timber, formerly known as Maran Road Sawmill, is a premier fully integrated Maran Timber, a prominent timber company in Malaysia, focuses on producing high-quality timber products while maintaining strong commitments to sustainability and responsible practices. The company operates an FSC-certified forest concession under Asrama Raya, a sawmill in Terengganu, and an integrated timber manufacturing facility in Pahang.
Maran Timber offers a range of engineered timber products, including kiln-dried lumber, laminated scantlings, fascia boards, and Noawood, a thermally modified wood product derived from Malaysian tropical timber, designed for enhanced durability and stability. The company remains dedicated to sustainable forest management and adhering to ESG principles, ensuring a balance between business growth and environmental responsibility.
About #dltledgers
#dltledgers is a global multi-party collaboration platform offering state of the art solution in Multi-tier supply chain, Sustainability, Compliance and Digital finance.
Global businesses face significant multi-party collaboration challenges and there is a pressing need for enabling inter-enterprise data-sharing processes. Organizations across diverse geographies often struggle with incompatible technologies. #dltledgers offers clarity through the seamless virtualization of invisible data points across the value chain.
Our flagship product, Proteus, enhances collaboration and authenticity, leveraging advanced virtualization technologies in Gen AI, Blockchain and Web3 frameworks to streamline data sharing, improve visibility and ensure global compliance.
View original content:https://www.prnewswire.com/apac/news-releases/maran-timber-sdn-bhd-pioneers-eudr-compliant-shipments-from-malaysia-to-europe-302317295.html
SOURCE dltledgers
Enhancing operational efficiency for leading air conditioner manufacturer
LONDON, Nov. 27, 2024 /PRNewswire/ — Clarivate Plc (NYSE: CLVT), a leading global provider of transformative intelligence, announced today that Daikin Industries, Ltd. (Daikin) has selected IPfolio™ from Clarivate. The leading air conditioner manufacturer will utilize this solution to optimize its intellectual property (IP) assets, enabling more confident strategic decision-making and sustainable growth.
IPfolio will support Daikin’s IP teams in maximizing operational efficiency, keeping pace with increasing IP filing and data volumes, and eliminating manual processes. As an easily configurable solution, IPfolio will help Daikin meet its unique needs for managing its IP assets. In the future, Daikin will also use IPfolio for its global offices to facilitate collaboration through connected services and integrations.
Glen Nath, Senior Vice President, Intellectual Property, Clarivate, said: “We are very proud to provide our IP management solution to Daikin to help them transform their IP management. Our IPfolio supports Daikin to efficiently manage its IP assets with maximum control and minimal effort, giving its business a competitive edge.”
Gordon Samson, President, Intellectual Property, Clarivate, said: “This is another great example of how we connect our clients to leading solutions to ensure an IP-empowered future. We are confident that our powerful and flexible cloud-based solution will empower clients to make strategic IP decisions with greater confidence and efficiency.”
Mr. Takeo Abe, General Manager of Intellectual Property Department at Daikin, said, “As the Intellectual Property Division is transforming into a creative division, we have decided on Clarivate as a partner to build a new system to optimize and innovate our IP operations. We believe IPfolio is the best system to achieve our goals with its high flexibility and diverse features.”
About Clarivate
Clarivate™ is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com.
Media Contact:
Jack Wan, Director, External Communications
newsroom@clarivate.com
SOURCE Clarivate Plc
“Bleach: Brave Souls” Anime Broadcast Celebration Special: Christmas Zenith Summons: White Night to Begin Soon with Retsu, Nemu, and Others as New 5 Star Characters
Maran Timber Sdn. Bhd. Pioneers EUDR-Compliant Shipments from Malaysia to Europe
Daikin Selects IPfolio from Clarivate
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