BEIJING, Dec. 20, 2024 /PRNewswire/ — Baijiayun Group Ltd (“Baijiayun” or the “Company”) (NASDAQ: RTC), a one-stop AI video solution provider, today announced it’s “DuanXunBao” has ushered in a winter refresh and upgrade recently.

Recently, Duanxunbao, a new-generation knowledge delivery tool under Baijiayun, has undergone meticulous refinement and a comprehensive upgrade, and has recently launched a series of innovative features. These features not only cover intelligent live streaming templates, quick chat scripts, virtual user assistance, optimization of live streaming field control, etc., but also completed important updates in private domain traffic operation, helping knowledge monetizers build a more efficient, interactive and personalized online learning environment.

In the latest version, Baijiayun has introduced the live streaming template messages and commonly used quick chat scripts feature. This innovation has greatly enhanced the interactivity of live streaming. The message templates can set the commonly used chat scripts during the start, in the middle, and before the end of the live stream into different templates. When it reaches the corresponding live stream start node, you only need to click the mouse lightly, and you can quickly select and send carefully designed messages from the preset templates. The launch of this feature has directly shortened the preparation time of teaching assistants, improved the coherence and professionalism of live stream content, and also significantly increased the audience’s interaction frequency and purchase intention.

To further improve the user experience, DuanXunBao has carried out a comprehensive renovation of the UI interface on the teaching assistant’s live streaming field control end. The renovated interface is more concise and clear, reducing the user’s operation steps and enabling teaching assistants to complete various tasks more efficiently during the live streaming process.

Driven by the dual forces of the knowledge economy and the digital transformation wave, China’s knowledge monetization market has ushered in a golden age of in-depth cultivation. The increasing pursuit of the quality of knowledge content and the growing personalized learning needs of users are driving knowledge delivery platforms to continuously explore and innovate and expand the boundaries of technology and service. As a leader in this field, Baijiayun will continue to improve its own knowledge dissemination system and technical service capabilities in the future to meet the diverse needs of a large number of knowledge monetizers and learners.

For investor and media enquiries, please contact:

Company Contact:
Ms. Fangfei Liu 
Chief Financial Officer, Baijiayun Group Ltd
Phone: +86 25 8222 1596
Email: ir@baijiayun.com 

View original content:https://www.prnewswire.com/news-releases/expand-the-boundaries-of-technology-and-service-baijiayuns-duanxunbao-ushered-in-a-winter-refresh-and-upgrade-302337054.html

SOURCE Baijiayun Group Ltd

NORWALK, Conn., Dec. 20, 2024 /PRNewswire/ — Emeren Group Ltd (“Emeren” or the “Company”) (www.emeren.com) (NYSE: SOL), a leading global solar project developer, owner, and operator, today announced the sale of its 2.8 MWdc solar project located in Maine to Altus Power, Inc. (“Altus Power“) (NYSE: AMPS), the largest commercial scale provider of clean electric power. This transaction underscores Emeren’s commitment to advancing clean energy solutions and its active role in supporting renewable energy goals nationwide.

The project is the final asset to be sold from Emeren’s Maine pipeline. The Company has brought the project to full commercial operation, achieving a significant milestone in its development. With this sale, Altus Power will assume ownership and long-term management, utilizing the project to deliver clean, sustainable energy to local communities and support Maine’s renewable energy objectives.

Yumin Liu, CEO of Emeren Group, commented, “We are excited to partner with Altus Power on this project. This sale not only strengthens our presence in the U.S. market but also supports the growing demand for renewable energy in Maine. The project demonstrates Emeren’s capacity to efficiently deliver COD projects without compromising quality. We look forward to Altus Power’s continued success as they integrate high-quality solar assets like ours to their expanding portfolio.”

“We’re proud to expand our footprint in Maine through this acquisition. Emeren is a leader in renewable energy and we appreciate their collaboration and expertise in bringing this project to fruition,” said Matt Marlow, co-Head of Investment and Structured Finance, Altus Power. “This acquisition reinforces our commitment to delivering clean energy to the communities we serve and supporting the growing number of Community Solar subscribers, driving the transition to a more sustainable future.”

About Emeren Group Ltd

Emeren Group Ltd (NYSE: SOL), a renewable energy leader, showcases a comprehensive portfolio of solar projects and Independent Power Producer (IPP) assets, complemented by a significant global Battery Energy Storage System (BESS) capacity. Specializing in the entire solar project lifecycle — from development through construction to financing — we excel by leveraging local talent in each market, ensuring our sustainable energy solutions are at the forefront of efficiency and impact. Our commitment to enhancing solar power and energy storage underlines our dedication to innovation, excellence, and environmental responsibility. For more information, go to www.emeren.com.

For investor and media inquiries, please contact:

Emeren Group Ltd – Investor Relations
+1 (925) 425-7335
ir@emeren.com 

The Blueshirt Group
Gary Dvorchak
+1 (323) 240-5796
gary@blueshirtgroup.co

View original content to download multimedia:https://www.prnewswire.com/news-releases/emeren-group-sells-2-8-mw-maine-solar-project-to-altus-power-302336638.html

SOURCE Emeren Group Ltd

SHANGHAI, Dec. 20, 2024 /PRNewswire/ — Four Seasons Education (Cayman) Inc. (“Four Seasons Education” or the “Company”) (NYSE: FEDU), a tourism and education-related service provider in China, today announced its unaudited financial results for the first half of fiscal year 2025, ended August 31, 2024.

Financial and Operational Highlights for the First Half of Fiscal Year 2025

Revenue increased by 117.8% to RMB134.7 million (US$19.0 million), compared to RMB61.8 million in the same period of last year.Gross profit increased by 11.1% to RMB29.7 million (US$4.2 million) from RMB26.7 million in the same period of last year.Operating loss was RMB5.7 million (US$0.8 million), compared to an operating income of RMB0.9 million in the same period of last year.Adjusted operating loss(1) (non-GAAP) was RMB1.6 million (US$0.2 million), as compared to an adjusted operating income of RMB2.7 million in the same period of last year.Net income was RMB3.0 million (US$0.4 million), compared to RMB5.7 million in the same period of last year.Adjusted net income(2) (non-GAAP) was RMB2.1 million (US$0.3 million), as compared to RMB6.2 million in the same period of last year.Basic and diluted net income per American Depositary Share (“ADS”) attributable to ordinary shareholders were both RMB1.42 (US$0.20), as compared to both RMB2.70 in the same period of last year. Each ADS represents ten ordinary shares.Adjusted basic and diluted net income per ADS attributable to ordinary shareholders(3) (non-GAAP) were both RMB0.98 (US$0.14), compared to both RMB2.93 in the same period of last year.

Ms. Yi (Joanne) Zuo, Chief Executive Officer and Director of Four Seasons Education, said, “We achieved strong financial and operational results for the six months ended August 31, 2024, driven by robust growth across our core businesses and our continuous efforts to enhance overall efficiency. Our total revenue reached RMB135 million, surging by 118% year over year, while we maintained profitability with net income of RMB3 million. 

“We propelled progress in our non-academic tutoring business, increasing the segment’s revenue by 62% year over year as we delivered on our commitment to meeting diverse learning needs across various customer groups and communities. Leveraging our industry know-how and accumulated experience, we expanded and enriched our non-academic tutoring programs to offer learners of all ages high-quality, innovative learning experiences, enhancing their engagement and learning efficiency. Furthermore, our efforts to expand our overseas learning preparation and consulting offerings are bearing fruit, paving the way for quality, sustainable growth.

“Our domestic and outbound tourism business saw a 230% year-over-year revenue increase as we expanded our offerings to attract new customers across all age groups, and we launched our cruise service in 2024. Moreover, our education camps have been well received by the market. We are encouraged by these camps’ early success and expect them to create synergies with our non-academic tutoring programs going forward, and we’re confident of further growth as we continue to extend our reach to all demographics.

“Looking ahead, we will remain focused on enhancing operating efficiency and pursuing organic growth by providing customers with an ever-widening selection of premium, innovative services. We are particularly committed to directing our efforts towards products and projects that offer higher profit margins. Furthermore, we will continue to explore and invest in new opportunities that comply with relevant regulations in the education-related and tourism services sectors, such as overseas learning preparation services, to cultivate our long-term competitiveness amid evolving market dynamics and customer demands. As always, we are dedicated to strengthening our core capabilities and expanding our footprint to create sustainable value for all of our stakeholders,” Ms. Zuo concluded.

First Half Fiscal Year 2025 Financial Results

Revenue increased by 117.8% to RMB134.7 million (US$19.0 million) in the first half of fiscal year 2025, from RMB61.8 million in the same period of last year, mainly driven by the rapid growth in the Company’s tourism and non-academic tutoring businesses.

Cost of revenue was RMB105.0 million (US$14.8 million) in the first half of fiscal year 2025, compared with RMB35.1 million in the same period of last year, mainly due to the increases in costs related to the Company’s tourism business and in staff costs of the Company’s non-academic tutoring business.

Gross profit was RMB29.7 million (US$4.2 million) in the first half of fiscal year 2025, compared with RMB26.7 million in the same period of last year. 

General and administrative expenses increased by 15.4% to RMB27.2 million (US$3.8 million) in the first half of fiscal year 2025 from RMB23.5 million in the same period of last year, mainly attributable to the staff costs associated with the expansion of the Company’s tourism business and non-academic tutoring business, and the increase of share-based compensation expenses due to the new grant and reprice of share options.

Sales and marketing expenses was RMB8.1 million (US$1.1 million) in the first half of fiscal year 2025, compared to RMB2.2 million in the same period of last year, mainly due to the development of the Company’s tourism business and non-academic tutoring business.

Operating loss was RMB5.7 million (US$0.8 million) in the first half of fiscal year 2025, compared with an operating income of RMB0.9 million in the same period of last year. Adjusted operating loss(1) (non-GAAP), which is calculated as operating loss excluding share-based compensation expenses, was RMB1.6 million (US$0.2 million) in the first half of fiscal year 2025, compared with an adjusted operating income of RMB2.7 million in the same period of last year.

Interest income, net was RMB7.5 million (US$1.1 million) in the first half of fiscal year 2025, compared with RMB2.2 million in the same period of last year, mainly due to the interest income from financial instruments and restricted cash.

Income tax expenses was RMB3.5 million (US$0.5 million) in the first half of fiscal year 2025, compared with RMB0.2 million in the same period of last year.

Net income was RMB3.0 million (US$0.4 million) during the first half of fiscal year 2025, compared with RMB5.7 million in the same period of last year. Adjusted net income(2) (non-GAAP), which is calculated as net income excluding share-based compensation expenses and unrealized holding gain in investments, was RMB2.1 million (US$0.3 million), compared with RMB6.2 million in the same period of last year.

Basic and diluted net income per ADS attributable to ordinary shareholders in the first half of fiscal year 2025 were both RMB1.42 (US$0.20), compared with both RMB2.70 in the same period of last year. Adjusted basic and diluted net income per ADS attributable to ordinary shareholders(3) (non-GAAP) in the first half of fiscal year 2025 were both RMB0.98 (US$0.14), compared with both RMB2.93 in the same period of last year.

Cash and cash equivalents. As of August 31, 2024, the Company had cash and cash equivalents of RMB156.1 million (US$22.0 million), compared with RMB180.2 million as of February 29, 2024.

About Four Seasons Education (Cayman) Inc.

Four Seasons Education (Cayman) Inc. is a service provider of both tourism and education-related services in China. The Company’s program, service and product offerings mainly consist of non-academic tutoring programs, school-based tutoring product solutions and training programs for teachers, study camps and learning trips for students, and travel agency services for all age groups. For more information, please visit https://ir.sijiedu.com. 

About Non-GAAP Financial Measures

In evaluating the Company’s business, the Company considers and uses certain non-GAAP measures, including primarily adjusted operating income/loss, adjusted net income/loss and adjusted basic and diluted net income/loss per ADS attributable to ordinary shareholders, as supplemental measures to review and assess the Company’s operating performance. Adjusted operating income/loss is defined as operating income/loss excluding share-based compensation expenses. Adjusted net income/loss is defined as net income/loss excluding share-based compensation expenses and unrealized holding gain in investments (net of tax effect). Adjusted basic/ diluted net income/loss per ADS attributable to ordinary shareholders is defined as basic/diluted net income/loss per ADS attributable to ordinary shareholders excluding share-based compensation expenses per ADS attributable to ordinary shareholders and unrealized holding gain in investments per ADS attributable to ordinary shareholders. 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 these non-GAAP financial measures provide meaningful supplemental information regarding its performance and liquidity by excluding share-based expenses, unrealized holding gain in investments and impairment loss on intangible assets and goodwill (where applicable) that may not be indicative of the Company’s operating performance from a cash perspective. The Company believes that both management and investors benefit from these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management’s internal comparisons to the Company’s historical performance and liquidity. The Company also believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in the Company’s financial and operational decision making. A limitation of using non-GAAP measures is that these non-GAAP measures exclude share-based compensation charges and unrealized holding gain in investments (where applicable) that have been and will continue to be for the foreseeable future a significant recurring expense in the Company’s business. The Company compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables have more details on the reconciliations between GAAP financial measures that are most directly comparable to non-GAAP financial measures.

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 RMB7.0900 to US$1.00, the rate set forth in the H.10 statistical release of the U.S. Federal Reserve Board on August 30, 2024.

Safe Harbor Statement

This press release contains statements of a forward-looking nature. These statements, including the statements relating to the Company’s future financial and operating results, are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as “will,” “expects,” “believes,” “anticipates,” “intends,” “estimates” and similar statements. Among other things, management’s quotations and the Business Outlook section contain forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. Potential risks and uncertainties include, but are not limited to, those relating to its ability to attract new students and retain existing students, its ability to deliver a satisfactory learning experience and improving their academic performance, PRC regulations and policies relating to the education industry in China, general economic conditions in China, and the Company’s ability to meet the standards necessary to maintain listing of its ADSs on the NYSE or other stock exchange, including its ability to cure any non-compliance with the NYSE’s continued listing criteria. All information provided in this press release is as of the date hereof, and the Company undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. Further information regarding risks and uncertainties faced by the Company is included in the Company’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 20-F.

For investor and media inquiries, please contact: 

In China:
Four Seasons Education (Cayman) Inc.
Olivia Li
Tel: +86 (21) 6317-6177
E-mail: IR@fsesa.com 

The Piacente Group, Inc.
Jenny Cai
Tel: +86-10-6508-0677
E-mail: fourseasons@tpg-ir.com 

In the United States:
The Piacente Group, Inc. 
Brandi Piacente
Tel: +1-212-481-2050
E-mail: fourseasons@tpg-ir.com 

View original content:https://www.prnewswire.com/news-releases/four-seasons-education-reports-first-half-of-fiscal-year-2025-unaudited-financial-results-302337184.html

SOURCE Four Seasons Education Inc.