Tobias Harris with a buzzer beater vs the Los Angeles Lakers

The Daily Beast
Japan’s Gun Laws Worked So Well They Need to Ban Crossbows
Photo Illustration by The Daily Beast / Photos GettyTOKYO—It’s been said that if you outlaw guns, only outlaws will have guns—but that’s not true in Japan, which has some of the strictest laws on the books forbidding the possession of guns, and imposes even harsher penalties for using them. If you fire a gun at someone here, you’re likely to spend more than 20 years in jail. The severe penalties even deter the yakuza, Japan’s organized crime syndicates, from using firearms. In 2017, there were only three people killed by gunshots in the entire nation. But human beings will always find ways to kill each other and, as it turns out, when you outlaw guns in Japan outlaws will resort to other deadly weapons—like crossbows.Thwack.Now, the Japanese government is considering banning most people from buying, selling, or owning these semi-automatic bow and arrows. After a series of horrific crimes using the weapons there are now pending revisions to Japan’s laws which will limit their usage to sports and tranquilizing animals. The new revisions are expected to be passed in the current session of the parliament.The new laws will be retroactive, so those outlaws out there who were planning malfeasance with their handy crossbows are going to have to turn them in to authorities, or get a permit, or face jail-time. If you were planning to take a shot at being a real-life (homicidal) Green Arrow—think twice. The penalties for using it as a weapon are likely to be severe. However, if you’re using a crossbow for a legitimate purpose—like crossbow shooting—you’ll be allowed to keep it, if you are granted a permit.Fearsome Yakuza Really Miss Halloween This YearThere have been several grisly murders over the last decade that provided the impetus to crack down on the handling of these potential weapons. According to Japan’s National Police Agency, in the last 10 years there have been 32 cases of crossbows being used in crimes, with six people killed and 11 people injured.Of these murders, the most horrific was a familicide that left three people dead and one person in critical condition.Last summer, Hideaki Nozu, a troubled 23-year-old living in Takarazuka City in western Japan, reportedly purchased a crossbow and used it to shoot his entire family. According to reports in Sankei Newspaper and other Japanese media, he went on a murderous rampage on the morning of June 4, shooting his younger brother twice in the bathroom at point-blank range, his mother in the living room, and his 75-year-old grandmother in her bedroom. Each shot was fired to the head and pierced the skull. Later that day, he summoned his aunt to the house. When she arrived and opened the door, he shot her in the neck at the entrance. She ran out of the house with the arrow still lodged in her neck and called for help. Having successfully removed one of the arrows, his younger brother was still breathing when police arrived, but died at a hospital seven hours later.During a period of self-imposed isolation and possible mental illness, Nozu had reportedly blamed his family for all his troubles, including having to drop out of college because he was unable to pay for tuition. He was indicted on murder and attempted murder charges and reportedly told police that—with the objective of killing his entire family—he had practiced with the crossbow several times at home before putting his plan into action.The crossbow killings unleashed a volley of copy-cat crimes. One incident, which occurred on July 26, prompted Hyogo Prefecture to make an ordinance restricting the sales and ownership of crossbows. It involved an unemployed housewife who shot her husband with a crossbow while he was sleeping. Luckily for the husband, the arrow only grazed his head, and he woke up before his wife could finish the job by attempting to slit his throat with a kitchen knife. The crossbow-bearer told police investigators that after losing her job and being trapped at home because of the pandemic she had become increasingly irritable. She had heard of the murders committed in June of that month and decided to purchase her own crossbow to use on her husband. The following month there was another incident: a 28-year-old unemployed woman used a crossbow to shoot an elderly social worker, piercing his right arm. Fortunately, he lived, and the assailant was arrested for attempted murder.Under the pending laws, crossbows—which are usually referred to as “bow guns” or “Western bow and arrows” in Japan, though they’re officially called crossbows in parliament—will be strictly defined as a bow that uses a locking mechanism to hold down the string after it has been drawn, and can release an arrow with enough force to harm a living human being. Nine months after the anti-crossbow bill becomes law, citizens who want to get their hands on the weapons will have to get permission from the local public safety commission and keep the bows locked away when not in use. Crossbow use will only be allowed at firing ranges and other special venues. Recently released ex-convicts, drug addicts, and those under the ge of 18 will not be allowed to own crossbows. Illegal possession of a crossbow can be punished with a prison term of up to three years or a fine of up to 500,000 yen (about $5,000). Restrictions on the buying and selling of crossbows are being fine-tuned as the bill heads towards finalization, but crossbow dealers who do not do proper background checks or fail to confirm whether the buyer is licensed, will face up to six months in jail or a fine of up to $2,000. If there was a National Crossbow Association in Japan, they would be fuming. The Daily Beast did ask the National Bowgun Shooting Association for comment on the pending law but as of press time they had not responded.Read more at The Daily Beast.Get our top stories in your inbox every day. Sign up now!Daily Beast Membership: Beast Inside goes deeper on the stories that matter to you. Learn more.
2 minutes ago
The Daily Beast
Trump’s Muslim Ban Left Thousands in Limbo—Biden Must Decide Their Fates
c/o ACLUThe Biden administration this week will determine the fate of people who were impacted by the Muslim ban, which ultimately targeted a large number of African countries. Rescinding the ban was a critical step toward restarting our immigration system and providing equitable access to Black and brown immigrants. But what about the people who would have received visas during the past four years—some of whom spent their life savings on the process but were nevertheless denied simply because of a discriminatory ban? Trump created this catastrophe, but it’s now Biden’s responsibility to remedy it.In President Biden’s proclamation rescinding the ban, he directed the State Department to send him a report in 45 days. That deadline is Saturday. This report will advise on many things, including how to address Trump’s rampant denials of immigrant visas—that is, visas intended for people to come to the United States, become permanent residents, set down roots, and eventually become citizens.The Biden administration must do everything possible to undo the Trump administration’s harms, including reopening previously denied cases to fairly reassess their claims, waiving fees (especially for those who would have to pay a second time), expediting their cases, and ensuring people are not penalized for the previous administration’s visa denials. There are glimmers of this hope in Biden’s order, as these issues are explicitly outlined for consideration.Trump’s Muslim Ban Is Destroying These Americans’ Lives, Two Years OnThe critically unknown question is how the Biden administration will help people and their families who were denied opportunities through our diversity visa program. This program was codified in the Immigration Act of 1990 in an effort to ensure that people with fewer opportunities to come to the United States through other parts of our immigration system—like family relationships or employment—would have a chance to “win” the lottery, affording them a shot to become American. It helps to ensure that the U.S. continues to reflect the diversity of our world, and winning the “lottery” to become eligible often represents a once-in-a-lifetime opportunity.In recent years, the program has predominantly benefited people from Africa and Asia due to the dearth of other immigration opportunities for people in those regions. That’s why, following Trump’s slander of people from African countries in reference to our immigration system, members of Congress and other leaders have prioritized this program in proposed immigration reforms, and Biden’s immigration bill would in fact raise the number of available diversity visas. These proposals, in part, acknowledge the racism in our systems, and the need to ensure opportunities for Africans, Muslims, African Muslims, and others who lack opportunities through our immigration system.From beginning to end, the countries listed under the Muslim ban completely overlapped with countries eligible for America’s diversity visa program. As a result, people who spent their life savings traveling with their partners and children—often through war zones—to embassies for interviews and processing found themselves ultimately denied because of Trump’s ban. Yemenis have been particularly impacted by Trump’s ban. Yemen is in the midst of war, which makes the physical process to get one’s visa approved arduous. It also makes leaving the country even more critical when such an opportunity is received.For example, Anwar “won” the diversity visa lottery. He then traveled through militant-controlled regions and checkpoints to get the documentation he needed. He had to travel to Djibouti with his family because there is no embassy in Yemen, borrow money from family and friends, and wait an extended period of time there, only to be informed that his visa was denied because of the Muslim ban. Anwar, his wife, and two children had an opportunity to come to the United States, leave the dangers of Yemen, and build a future as a family—until Trump ripped it away. Their fate hangs in the balance, along with many others in Yemen, other countries in the region, and African countries as well.It is now Biden’s decision as to whether Anwar, his family, and others like them will get back the opportunity they lost, this once-in-a lifetime chance that was destroyed by a president intent on discriminating against Black and brown immigrants. Biden must honor the invitation people were given by permitting them to come to the United States now. And that is just the start. People also deserve the opportunity and citizenship that the diversity visa would have given them.Biden made the end of the Muslim ban a Day One priority. Now, he must ensure that people like Anwar and his family get the golden tickets they were promised.Read more at The Daily Beast.Get our top stories in your inbox every day. Sign up now!Daily Beast Membership: Beast Inside goes deeper on the stories that matter to you. Learn more.
4 minutes ago
Reuters
Apple-supplier Foxconn flags strong start to year as lockdowns spur electronics demand
Apple supplier Foxconn said it expects first-quarter revenue to rise more than 15% from a year earlier, boosted by strong iPhone sales and robust demand for electronics during lockdowns worldwide to curb the COVID-19 pandemic. The world's largest contract electronics manufacturer has previously forecast strong demand for the new iPhone 12, saying its business will be supported by "stronger than expected" sales for smartphones and for telecommuting devices amid a coronavirus-induced work-from-home trend. Taiwan-based Foxconn, in a short statement on Thursday, said it expects consumer electronics revenue, which includes smartphones and smart watches, to rise more than 15% in the January-March quarter from a year earlier.
4 minutes ago
The Daily Beast
Spring Break COVID-19 Mayhem Is Coming for Florida
Photo Illustration by The Daily Beast / Photo via GettyMIAMI—Early Tuesday evening, a quartet of maskless, twentysomething beachgoers scanned the laminated menu near the outdoor seating area of Kantina, a Mexican restaurant on Ocean Drive in Miami Beach, Florida. The popular party strip was teeming with people looking to soak up booze and three-star cuisine amid a global pandemic that, at least until recently, appeared to be slowly ebbing away as vaccinations ramp up across the United States.Still, Candelaria Mesa, the 23-year-old hostess manning the entrance to Kantina, told The Daily Beast now was the time for every food-service worker in Miami Beach to put their guard up. This week, she said, the first horde of Spring Breakers arrived in the city, posing a renewed threat that new COVID-19 cases would spike after more than a month of decline.“I think Spring Break is going to be crazy and the cases are going to shoot up,” Mesa said through a black cloth mask. “People are out here partying and don’t take precautions seriously.”Florida Guv Gave Out VIP Vaccines. This Is Who Got Screwed.The young woman explained that her co-workers were anxious to get the shots as party season set in.“I know people here who are older than me and one who has asthma that want [the vaccine],” Mesa said. “And they should be able to get it.”Likewise, Marco Gonzalez, a 46-year-old waiter at Smith and Wollensky steakhouse about 10 city blocks from Kantina, told The Daily Beast he would love to get the vaccine, but doesn’t know when he will be allowed to do so. Under the vaccination pecking order established by Gov. Ron DeSantis, food service, grocery store, and retail employees are in limbo—even as the state has no mask mandate and in fact prevents localities from enforcing their own.“Absolutely, the vaccine should be available to us,” Gonzalez said. “We come into contact with hundreds of people a day. Most people at my restaurant have said they can’t wait to get the vaccine.”Gonzalez said he felt relatively safe at work because Smith and Wollensky implemented stringent protocols to minimize coronavirus outbreaks among staff. But that’s not the case with every drinking and food establishment in South Beach, he added.“I went to this bar the other night and it was COVID central,” Gonzalez said. “No one was wearing masks and it was packed to the hilt. I was like, ‘yeesh,’ and I got out of there.”Earlier this week, Gov. DeSantis expanded the pool of who can get immunizations to law enforcement officers, firefighters, and school employees who are 50 and older. Previously, the governor zeroed in on getting frontline health-care workers and seniors 65 and older vaccinated. As of March 1, Florida has vaccinated 14 percent of the state’s 21 million people.But the governor’s relentless approach to reopening Florida could intensify the spread of new coronavirus variants as college kids descend on the Sunshine State to let loose. During his State of the State speech in Tallahassee this week, DeSantis said he welcomes more visitors to Florida to keep the state economy’s humming along. That kind of thinking makes it even more imperative to give service industry workers their shots a lot sooner, according to infectious disease experts in Florida.Spokespersons for DeSantis and the Florida Department of Health did not respond to requests for comment.To be sure, the state is in a much better place than it was several weeks ago. Daily new COVID-19 cases have declined since late January. Since Feb. 1, the daily positivity rate has fluctuated between 5.2 percent and 7.4 percent. On Monday, Florida had a 5.6 percent daily positivity rate. During the same time period, Florida cracked 10,000 new cases a day only twice, on Feb. 1 and Feb. 5.Florida is far from breaking through the pandemic, though. The influx of Spring Breakers, even though crowds are unlikely to be as intense as years past, is a looming threat, especially with the state leading the nation in the number of new, more contagious—and possibly deadlier—variant cases. According to the Miami Herald, University of Miami researchers found that the B.1.1.7 strain, or the U.K. variant, caused 25 percent of recent infections in nearly 500 samples taken from patients treated in Miami-area public hospitals. They also found samples of variants first sequenced in Brazil, Saudi Arabia, Aruba, Israel, and New York.Vaccinating people who work in hospitality and retail is essential if Florida is going to allow out-of-state, college-aged tourists to turn up down here, Dr. Edwin Michael, a University of South Florida epidemiology professor, told The Daily Beast.“You have to safeguard the industries that are serving those who come for Spring Break,” Michael said. “The problem has been that we don’t have enough vaccines, so the strategy has been to safeguard the older population.”Florida Is a COVID Nightmare—Even for Vaccinated PeopleThat is also the most politically favorable option for DeSantis. “Yes, politics definitely plays a role in this,” Michael said. “Young people don’t vote, while elderly people do. But if you are allowing people to come for Spring Break to have some economic activity, then you definitely have to begin vaccinating service economy workers as well.”As Florida’s vaccine allotment continues to grow with the addition of the recently approved Johnson & Johnson one-dose vaccine, “the time has really come to start pushing vaccines to the 20- to 49-year-olds,” Michael added.In a perfect world, the state would be supplying hospitality and retail workers with N95 and K95 masks until they become eligible for vaccines, Dr. Thomas Unnach, also a University of South Florida infectious disease professor, told The Daily Beast. “Spring Break will [create] a fairly high-risk environment, I think,” Unnach said. “Unfortunately, these masks are not readily available and we can’t provide them to every frontline worker. That is the dilemma we are facing now.”In other words, Florida’s hospitality workers have to fend for themselves during Spring Break a year into a gruesome pandemic.Adam Gersten, owner of Gramps, a popular bar in Miami’s Wynwood neighborhood, said he’s held off on loosening restrictions at his watering hole—despite being allowed to do so—because he’s “very worried” about Spring Breakers charging into town.“That’s why we haven’t relaxed protocol,” Gersten said. “When they leave and it’s rainy, hot, and shitty, we will take a look.”Gramps is currently open for outdoor seating only with 50 percent capacity and patrons have to wear masks even when belting out tunes during the bar’s weekly karaoke night, Gersten said. If they had access to vaccines, it would give him and his crew peace of mind.“It makes it that much safer to be around groups of people even in a tightly-controlled spot like ours,” Gersten said. “Also, the fact that restaurant, bar, and hospitality workers were to get vaccinated would project that there is momentum toward a workable new way of life that is leaps and bounds better than where we are at now.”In explaining why he won’t shut down businesses again, DeSantis often cites the need to keep people employed and earning money. But if the governor wants to use service industry workers as political pawns, it’s only fair that the he prioritize them in the vaccination line, Gersten said.“I think people who are considered essential—specifically those in hospitality, grocery stores, and high-volume places that he is touting as signs of his decisions to remain open were the right ones—deserve the vaccines,” Gersten said. “If you’re gonna use us for your political ambitions, pay us in vaccines.”Read more at The Daily Beast.Got a tip? Send it to The Daily Beast hereGet our top stories in your inbox every day. Sign up now!Daily Beast Membership: Beast Inside goes deeper on the stories that matter to you. Learn more.
4 minutes ago
Newsfile
Canadian Natural Resources Limited Announces 2020 Fourth Quarter and Year End Results
Calgary, Alberta--(Newsfile Corp. - March 4, 2021) - Commenting on the Company's 2020 results, Tim McKay, President of Canadian Natural (TSX: CNQ) (NYSE: CNQ) stated "The impact of the COVID-19 pandemic effected the very way we conducted our lives and the way we operated our businesses. Through the year we took protocols to protect our stakeholders and would like to thank our employees, contractors, suppliers and shareholders for their support through this challenging year. ...
5 minutes ago
GlobeNewswire
Less than a Quarter of Businesses Adequately Support Knowledge Work
Research crystallizes analysis of more than 1,000 knowledge workers and 500,000 digital conversations to help forge path for the future of knowledge work CHICAGO and LONDON, March 04, 2021 (GLOBE NEWSWIRE) -- iManage, the company dedicated to Making Knowledge Work™, today released research that finds just 23 percent of knowledge workers report their organization is ahead of the curve in digital capabilities to support knowledge work. The implications of this finding are far-reaching, as knowledge workers are often the drivers of workplace innovation through the application of their ideas, skills, experience, knowledge, and judgement. With some estimates counting knowledge professionals at more than 1 billion worldwide, the iManage report demonstrates the need for many organizations to sharpen their strategies for enabling their professionals to connect with, activate, use, and retain critical knowledge across their businesses. Key findings include: 68 percent of knowledge workers believe “the information contained in digital documents and files” is vital to their business. Respondents rated contracts, emails, and spreadsheets as the three most important sources of digital information74 percent believe knowledge work will be even more important to business in a post-COVID world47 percent of survey respondents state improving employee productivity and collaboration is one of their organization’s top goals28 percent of survey respondents said that most or all of their documents are scattered and siloed across multiple systems30 percent of respondents said that documents reach their organization via five or more channels Rapidly expanding knowledge assets and technology have changed the way we work, live and conduct business. With much of the global economy trading on intellectual capital rather than the production of tangible goods, workers’ knowledge or intellectual property may not be able to be physically seen or touched, but it holds tremendous value in driving business results and must be preserved, protected, and shared within the organizations it powers. A New Approach to Knowledge Work is the Key to Deriving Maximum Value“Really understanding how to make knowledge work achieve its highest and best use within organizations is a perspective shift that goes beyond enabling simple knowledge management. It requires putting into place an ecosystem for knowledge activation,” said Neil Araujo, CEO iManage. “Organizations must have a breadth of capabilities at work that include collaboration, secure storage and retrieval, ability to work from anywhere, and capacity to curate and repurpose institutional knowledge – all delivered though a high-performance, reliable cloud service. This empowers knowledge workers to create opportunities for unencumbered thinking, higher level productivity, and creativity that drives innovation and spurs new business opportunities.” Approaches to closing knowledge gaps have been fragmented, and crucial information has fallen through the cracks, taking critical value with it. When viewed in context of the exponential increases in data volume and data sources, the challenge is magnified. According to IDC, the amount of data created over the next three years will be more than the data created over the past 30 years, and the world will create more than three times the data over the next five years than it did in the previous five. Contextual Relevance is Essential for Effective Knowledge Work For many knowledge workers, the units of work they handle are large, complex, and often involve multiple people and teams. The collective intelligence amassed from collaborating across these diverse teams and projects, along with the unique expertise contributed by team members, forms an essential part of the institutional memory of an organization. Effective knowledge work platforms need to be able to contextualize knowledge created and gathered across enterprises over extensive periods of time to deliver the right information to the right knowledge professional at the right time. When information is siloed, scattered, or cannot be effectively identified and shared, it not only blocks productivity but can also negatively affect employee and customer satisfaction. Making relevant, contextual information fast and easy to find and activate is essential to improving productivity. Automation Technologies are UnderutilizedThe study also found that respondents’ organizations were slow to adopt automation technology. While Artificial Intelligence (AI) figured prominently in the digital conversations analyzed, less than 40 percent of those surveyed reported that their departments were using automation technologies of any kind when working with very important digital documents or files, and fewer than 37 percent were using automated workflows. By raising awareness of key drivers and influences shaping the future of the global knowledge work marketplace, iManage is helping companies and their professionals chart a course to maximize the impact of knowledge work. More About the ReportThe multi-layered research, conducted by Metia Group’s insight unit, combines elements of Metia primary research with in-depth research commissioned by iManage. Findings are based on qualitative and quantitative analysis of more than 500,000 global, digital conversations over two years, alongside dozens of in-depth interviews with subject matter experts, as well as quantitative survey results from a sample of 1,068 businesses across the US and UK. A complimentary white paper reporting some of the key findings can be downloaded here. Follow iManage via: LinkedIn: https://www.linkedin.com/company/imanage Twitter: https://twitter.com/imanageinc Blog: https://imanage.com/blog/ About iManage iManage is the company dedicated to Making Knowledge Work™. Its intelligent, cloud-enabled, secure knowledge work platform enables organizations to uncover and activate the knowledge that exists inside their business content and communications. Advanced Artificial Intelligence and powerful document and email management create connections across data, systems, and people while leveraging the context of organizational content to fuel deep insights, informed business decisions, and collaboration. Underpinned by best-of-breed security and sophisticated workflows and governance approaches, iManage has earned its place as the industry standard by continually innovating to solve complex professional challenges and enabling better business outcomes for over one million professionals across 65+ countries. Visit www.imanage.com/ to learn more. Press Contact Information:Anastasia BullingeriManage Phone: +1 312 868 8411press@imanage.com
5 minutes ago
Business Wire
Ecopia AI and Airbus Partnership will Provide Next-Generation Digital Maps on a Global Scale
Today, Ecopia AI ("Ecopia") announced a partnership with Airbus to produce next-generation digital maps on a global scale—including land use/land cover, roads, and building footprint data. This digital mapping solution will provide commercial and government users with an accurate and up-to-date digital representation of their areas of interest, driving better decision making across industries.
5 minutes ago
CNW Group
Canadians Believe Government Action Could Have Reduced COVID-19 Death Toll in Long-Term Care
Seniors Increasingly Wary of Long-Term Care, 'Pandemic Perspectives' Survey ShowsTORONTO, March 4, 2021 /CNW/ - Today, the National Institute on Ageing (NIA) and the Canadian Medical Association (CMA) released the findings of an online national survey gauging the perspectives of 2,005 Canadians on how the second wave of the pandemic has impacted the state of Canada's long-term care (LTC) systems. The majority of all Canadians (86 per cent) surveyed - and 97 per cent of Canadians aged 65 years and older - are concerned about the current state of LTC in Canada.
5 minutes ago
CNW Group
/R E P E A T -- Media Advisory: Virtual Infrastructure Announcement in Atikameksheng Anishnawbek/
Date:Thursday, March 4, 2021 Time: 11:00 a. EST Zoom event:Media are asked to register via email with Kaylie Dudgeon at marc.
5 minutes ago
CNW Group
The Marie Inkster Effect: How a whip-smart CEO from a Nova Scotia fishing village made Lundin Mining (TSX: LUN) a kinder, smarter more valuable company
VANCOUVER, BC, March 4, 2021 /CNW/ - Born and raised in the hard-scrabble fishing village of Canso, Nova Scotia (pop. 809), Marie Inkster became the CEO of Lundin Mining (TSX: LUN) in July 2018, when she was 47-years old.
5 minutes ago
GlobeNewswire
VISTA GLOBAL CEMENTS ITS POSITION AS THE LEADER IN AIR MOBILITY AND ACCELERATES ITS MARKET SHARE WITH ACQUISITION OF APOLLO JETS
Thomas Flohr Thomas Flohr, Founder and Chairman, Vista Global Apollo Jets Apollo Jets exterior Apollo Jets is the latest in a series of acquisitions for Vista Global, allowing more clients than ever before to benefit from its technology and fleet solutions. This follows from the successful acquisitions of Red Wing Aviation in 2020, JetSmarter in 2019 and XOJET in 2018. Accelerates outreach and provides a world leading offering to over 4,000 new clients and reinforces Vista Global’s position in the global business aviation market; Vista Global expects to see an increase of over 20% flights in North America following Apollo acquisition;Vista Global is the world’s largest On Demand provider with its industry changing membership and subscription business model;Apollo will be integrated as a division of XO, Vista Global’s digital brand, and the addition of Apollo’s globally renowned client executives will help accelerate sales of XO memberships and subscriptions to new and existing clients;Vista Global also expands its dedicated fleet access and services portfolio to support individual aircraft owners through aircraft management partnership with Talon Air. Dubai, March 4, 2021: Vista Global, the world’s largest On Demand private aviation group, announces that it has entered into an agreement to acquire Apollo Jets, a leading private aviation provider. Founded in 2008, Apollo has become one of the most prominent and established private aviation providers in the United States, with strong client relationships across leading Fortune 500, medium and large businesses, and sports and entertainment industries — servicing clients such as Derek Jeter and Shaquille O’Neal. With over 4,000 clients, Apollo’s client-leading position within the US marketplace will now be complemented by access to Vista Global’s end-to-end technology platform and owned fleet — joining Vista Global to be part of the world’s largest subscription-based business aviation community. Thomas Flohr, Vista Global’s Founder and Chairman said: “The Apollo acquisition reinforces Vista Global’s unrivalled commitment to providing every business aviation client with the best value flying solutions around the world. I believe this is just the beginning of consolidation in our industry and Vista Global is leading this market transformation. We are excited to add the strongest independent team of client executives to our leading global infrastructure, to offer more and more clients the opportunity to access Vista Global’s worldwide flying solutions. Just as at Vista Global, Apollo’s company culture is centered around best-in-class client service through its extraordinary team, renowned personal trust and committed 24/7 availability. It is a hugely exciting time for Vista Global — this acquisition expands our global services to a rapidly growing membership and subscription base, and furthers our promise to new and current clients, anytime, anywhere.” As part of the acquisition, Vista Global’s digital brand, XO, will now offer a full aircraft management service to its existing clients and new owners, operated by Talon Air. This directly allows Vista Global to support individual aircraft owners with their maintenance and overhaul needs. At the same time, Talon Air’s fleet will be commercially integrated into XO’s client offering. The acquisition will strengthen Vista Global’s leading position and enhances the diversification of its offering in the business aviation market. Headquartered at the DIFC in the UAE, Vista Global brands are now reaching out to every aviation client in the world through a network of 20 offices across the US, Europe, Middle East and Asia, offering access to a global owned and managed fleet of over 160 aircraft, and a further 2,100 alliance aircraft. Since its foundation in 2018, the Group’s revenues have nearly doubled, with a carefully selected mix of owned, managed and alliance aircraft providing an asset-right platform to service growing revenue and provide the best solutions for our clients globally. Additionally, internal talent has doubled in just over two years to almost 2,000 experts around the world. The acquisition of Apollo is the latest in a series of M&A deals which have expanded Vista Global’s service offering, following on from the successful acquisitions of Red Wing Aviation in 2020, JetSmarter in 2019 and XOJET in 2018. The transaction is expected to be completed in the first quarter of 2021, subject to customary closing conditions, including the expiration or termination of the applicable waiting period under the Hart Scott-Rodino Antitrust Improvements Act. - Ends - About Vista GlobalVista Global’s subsidiaries provide worldwide business flight services. A global group headquartered at the DIFC in Dubai, Vista Global integrates a unique portfolio of companies offering asset-free services to cover all key aspects of business aviation: guaranteed and On Demand global flight coverage; aircraft leasing and finance; and cutting-edge aviation technology. The Group’s mission is to lead the change to provide clients with the most advanced flying services at the very best value, anytime, anywhere around the world. Vista Global’s knowledge and understanding of all facets of the industry deliver the best end-to-end offering and technology to any business aviation clients, through its VistaJet and XO branded services and duly licensed carriers. Vista Global is not a direct air carrier and does not operate flights. More Vista Global information and news at www.vistaglobal.comMore information on VistaJet at www.vistajet.com More information on XO at www.flyxo.com About Apollo Jets Apollo Jets is the brainchild of an elite group of specialists and pioneers in the private jet services industry. Founded in 2008, the company has become one of the most successful private jet charter companies in the sector. Combining industry veterans with strong vendor relationships and utilizing fleets meeting rigorous safety requirements, Apollo Jets offers the best possible value in the market. Through its commitment to providing outstanding service, Apollo Jets has captured an elite list of clientele including Fortune 500 executives, money managers, celebrities, athletes and sports teams. Contactspress@vistaglobal.com Attachments Thomas Flohr Apollo Jets
5 minutes ago
CNW Group
John Robins of Discovery Group of Companies Joins Baroyeca Gold & Silver Inc. As Special Advisor To The Board
1008 - 409 Granville Street Vancouver, BC V6C 1T2 Telephone (604) 689-5002 Fax: (604) 689-5003TSX-V: BGSVANCOUVER, BC, March 4, 2021 /CNW/ - Baroyeca Gold & Silver Inc. (TSXV: BGS) ("Baroyeca" or the "Company") is pleased to announce that John Robins, founder of the Discovery Group of Companies, has agreed to become a special advisor to the Board of Directors of the Company.
5 minutes ago
GlobeNewswire
Incap Corporation: Incap appoints new Managing Director to Incap Electronics Slovakia
Incap CorporationPress release on 4 March 2021 at 12.00 p.m. EET Incap Corporation has made a new appointment to its team, promoting the current Plant Director of Incap Electronics Slovakia to the position of Managing Director. The company has decided to promote Miroslav Michalik to the position of Managing Director of Incap Slovakia. Miroslav Michalik has been employed by Incap Slovakia (previously AWS Slovakia) since 2018, working as a Plant Director at the company’s factory in Namestovo. “I am pleased to see Miroslav Michalik move into the Managing Director position of our factory in Slovakia. His previous role as plant manager proved that he’d be a great fit for leading the operations at Incap Slovakia," says Otto Pukk, President and CEO of Incap Group. Miroslav Michalik studied electronics at secondary school and went on to study production and general management at degree-level. Before joining Incap, he held several roles in companies within the electronics sector, from process engineer to plant manager and managing director. “I have worked in the electronics sector for my entire professional career. I am honored to have been entrusted with this new responsibility which encourages me to continue in my mission to develop the entire company to be customer-oriented and performance-driven,” said Miroslav Michalik. Before holding positions at Incap and AWS Group, Miroslav Michalik held the position of managing director at Giesecke+Devrient Slovakia, providing smart payment, ID, passport, and telecommunication card solutions. Prior to that, Miroslav Michalik was a plant manager at Visteon (formerly Johnson Controls Automotive), providing solutions for automotive electronics and infotainment. He also held several positions, including operational manager and team director, at the multinational electronics manufacturing services company, Celestica. Incap’s factory in Slovakia, based in Namestovo, provides a competitive-cost volume manufacturing option for its customers, in addition to featuring a dedicated hall for the automotive business. The factory has operated in the field of electronics manufacturing since 2008. With 5,200 square meters of total floor space and customers from companies all over the world, the factory brings together the high-level technical capabilities and leading-edge production technologies that are normally associated with multinationals, with a customer service approach that is based on offering a highly personalised service. INCAP CORPORATION For additional information, please contact:Otto Pukk, President and CEO at Incap Corporation, tel. +372 508 0798 Photo, Miroslav Michalik: https://photos.app.goo.gl/6Y7MJkwpdxn18MB96 INCAP IN BRIEF Incap Corporation is a trusted partner and full-service provider in Electronics Manufacturing Services. As a global EMS company, Incap supports customers ranging from large multinationals and mid-sized companies to small start-ups in their complete manufacturing value chain. Incap offers state-of-the-art technology backed up by an entrepreneurial culture and highly qualified personnel. The company has operations in Finland, Estonia, India, Slovakia, the UK, and Hong Kong and employs approximately 1,900 people. Incap’s share has been listed on Nasdaq Helsinki Ltd stock exchange since 1997.
5 minutes ago
The State
Columbia City Council eyes committee to address issues in tax study
Last year, the city commissioned a study that ultimately pointed out the Columbia area had some of the highest taxes in the state. Now City Council is considering creating a committee to tackle the issue.
5 minutes ago
GlobeNewswire
Payment Processing Solutions Market to Exhibit 11.7% CAGR by 2027; Growing Adoption of Credit Cards for Online Transactions to Surge Demand: Fortune Business Insights™
Key Companies Covered in Payment Processing Solutions Market Research Report Are PayPal Holdings, Inc. (California, United States), Fiserv Inc. (Wisconsin, United States), GLOBAL PAYMENTS INC. (Georgia, United States), Mastercard Incorporated (New York, United States), Square, Inc. (California, United States), VISA Inc. (California, United States), PayMyTuition (Toronto, Canada), Rapyd Financial Network Ltd. (London, United Kingdom), Stripe (California, United States)Pune, India, March 04, 2021 (GLOBE NEWSWIRE) -- The global payment processing solutions market size is expected to showcase exponential growth by reaching USD 116.17 billion by 2027. This is attributable to the increasing adoption of value-added services by major Fintech firms, along with the growing demand for payments through credit & debit cards that is leading the developers to introduce advanced payment solutions globally. Fortune Business Insights, published this information in its latest report, titled, “Payment Processing Solutions Market Size, Share & COVID-19 Impact Analysis, By Payment Method (Debit Card, Credit Card, e-Wallet, Automated Clearing House (ACH), and Others), By Industry Vertical (Banking, Financial Services and Insurance (BFSI), Manufacturing, IT and Telecommunications, Travel and Hospitality, Retail and Consumer Goods, Healthcare, Transportation and Logistics, and Others), and Regional Forecast, 2020-2027.” The report further mentions that the market stood at USD 48.60 billion in 2019 and is likely to exhibit a CAGR of 11.7% between 2020 and 2027. Request Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/payment-processing-solutions-market-104467 Massive Surge in Online Transaction amid COVID-19 to Aid Market Growth The global pandemic has led to a massive surge in online contactless transactions over cash payments. Bound by the fear of contracting the disease, several consumers are opting for digital payments when purchasing commodities at stores. This rise in online payments presents a lucrative opportunity for the developers to introduce advanced payment solutions that will contribute to the Payment Processing Solutions Market growth in the near future. Payment processing solutions are a medium that enables efficient handling of transactions when the customers purchase things. The payment processing provider promptly establishes a communication between the customer’s credit/debit card, mobile wallet, and others to the bank of the customer to enable a fast and secure transaction. The growing focus on digitization provides a platform for developers to innovate payment solutions, along with the addition of modern technologies to cater to the customer’s online payment demand. What does the Report Provide? The Payment Processing Solutions Market report includes a detailed analysis of several factors such as the key drivers and restraints that will have an impact on the market. Furthermore, the report includes significant insights into the regional insights that include different regions, which are contributing to the market growth. It includes the competitive landscape involving the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, collaborate, and acquire other companies that will contribute to the market growth during the forecast period. Moreover, the research analyst has adopted several research methodologies such as SWOT analysis to obtain information about the current trends and industry developments that will drive the market growth during the forecast period. Click here to get the short-term and long-term impact of COVID-19 on this Payment Processing Solutions Market. Please visit: https://www.fortunebusinessinsights.com/payment-processing-solutions-market-104467 DRIVING FACTORS Increasing Adoption of Value-Added Services by Fintech Firms to Augment Growth The emergence of advanced technologies has led to a massive overhaul in the operations of several Fintech firms and major banks globally. They are adopting modern technologies such as artificial intelligence (AI) and machine learning to provide their customers with contextual and customized payment solutions. This is driving the demand for advanced payment solutions to enable fast, simple, and secure business transactions. Furthermore, the surging use of credit and debit cards over cash is likely to boost the global payment processing solutions market growth in the forthcoming years. SEGMENTATION E-wallet Segment Held 18.2% Market Share in 2019 The e-wallet segment, based on the payment method, held a market share of about 18.2% in 2019 and is anticipated to gain momentum backed by the growing rate of digital payments amid COVID-19 that is driving the adoption of innovative e-wallet payment processing solutions globally. Ask For Customization: https://www.fortunebusinessinsights.com/enquiry/customization/payment-processing-solutions-market-104467 REGIONAL INSIGHTS North America to Remain Dominant; Increasing Number of Online Transactions to Augment Growth Among all the regions, North America is expected to remain dominant and hold the highest position in the global payment processing solutions market during the forecast period. This dominance is attributable to the increasing number of online transactions backed by the e-commerce boom in the region between 2020 and 2027. North America stood at USD 17.06 billion in 2019. The Payment Processing Solutions Market in Asia-Pacific is anticipated to experience substantial growth during the forecast period. This is ascribable to factors such as the rising retail and consumer goods industry that is driving the demand for advanced payment processing solutions in countries such as Australia, India, and China in the region. Speak To Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/payment-processing-solutions-market-104467 COMPETITIVE LANDSCAPE Eminent Companies Focus on Collaboration to Strengthen Their Market Positions The global payment processing solutions market is consolidated by the presence of major companies that are trying to maintain a stronghold by focusing on adopting inorganic and organic strategies. These companies are collaborating with other companies to expand and develop advanced solutions that will bode well for market growth. Industry Development: October 2020 - Rapyd Financial Network Ltd., a leading Fintech firm, announced the launch of its new all-in-one payment processing solutions for the South Korean market. According to the company, the payment solution is likely to aid in processing payment efficiently and provides a platform for easy transaction across mobile wallets and international cards. List of the Companies Profiled in the Global Payment Processing Solutions Market: PayPal Holdings, Inc. (California, United States)Fiserv Inc. (Wisconsin, United States)GLOBAL PAYMENTS INC. (Georgia, United States)Mastercard Incorporated (New York, United States)Square, Inc. (California, United States)VISA Inc. (California, United States)PayMyTuition (Toronto, Canada)Rapyd Financial Network Ltd. (London, United Kingdom)Stripe (California, United States)PAYU (Hoofddorp, Netherlands)CCBill, LLC. (Malta, Europe)AUTHORIZE.NET (Utah, United States)Jack Henry & Associates, Inc. (Missouri, United States)Paysafe Group Limited (London, United Kingdom)Alipay (Shanghai, China)BlueSnap Inc. (Massachusetts, United States)Worldline (Bezons, France)Fattmerchant Inc. (Orlando, Florida)SignaPay (Irving, Texas)Dwolla (Iowa, United States) Quick Buy – Payment Processing Solutions Market: https://www.fortunebusinessinsights.com/checkout-page/104467 Table Of Content: Introduction Definition, By SegmentResearch Methodology/ApproachData Sources Key TakeawaysPayment Processing Solutions Market Dynamics Macro and Micro Economic IndicatorsDrivers, Restraints, Opportunities and TrendsImpact of COVID-19 Short-term ImpactLong-term Impact Competition Landscape Business Strategies Adopted by Key PlayersConsolidated SWOT Analysis of Key PlayersPESTLE AnalysisPorter’s Five Force AnalysisSupply chain Analysis Global Market Share Analysis and Matrix, 2019 Key Payment Processing Solutions Market Insights and Strategic RecommendationsProfiles of Key Players (Would be provided for 10 players only) Overview Key ManagementHeadquarters etc Offerings/Business SegmentsKey Details (Key details are subjected to data availability in public domain and/or on paid databases) Employee SizeKey Financials Past and Current RevenueGross MarginGeographical ShareBusiness Segment Share Recent Developments Primary Interview Responses TOC Continued…! Have a Look at Related Research Insights: Livestock Monitoring and Identification Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware, Software, and Services), By End-use (Dairy Farm, Beef Farm, Sheep Farm, Deer Farm, and Goat and Pig Farm), and Regional Forecast, 2020-2027 Digital Transformation Market Size, Share,& Analysis, By Technology (Cloud Computing, Big Data and Analytics, Cybersecurity, Artificial Intelligence (AI), Internet of Things (IoT)), By Enterprise Size (Large Enterprises, SMEs), By Deployment Model (On-Premises, Cloud), By Industry Vertical ( BFSI, Manufacturing, IT and Telecommunications, Retail and Consumer Goods, Healthcare), and Regional Forecast, 2021-2028 Online Gambling Market Size, Share & COVID-19 Impact Analysis, By Type (Sports Betting, Casinos, Poker, Lottery, Bingo, and Others), By Devices (Desktop, Mobile, and Others), and Regional Forecast, 2021-2028 Building Information Modeling Market Size, Share & COVID-19 Impact Analysis, By Component (Software and Services), By Project Phase (Pre-Construction, Construction, and Post Construction), By Application (Commercial, Residential, Industrial, and Public Infrastructure), By End-User (Architect and Engineers, Facility or Construction Managers, and Builders and Contractors), and Regional Forecast, 2020-2027 Smart Parcel Locker Market Size, Share & COVID-19 Impact Analysis, By Type (Modular Parcel Locker, Cooling Lockers for Fresh Food, Postal Lockers, and Laundry Lockers), By Deployment (Indoor and Outdoor), By Application (Commercial Buildings, Condos and Apartments, Retail BOPIS, Universities & Colleges, and Others), and Regional Forecast, 2020-2027 About Us: Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges. Contact Us: Fortune Business Insights™ Pvt. Ltd. 308, Supreme Headquarters, Survey No. 36, Baner, Pune-Bangalore Highway, Pune - 411045, Maharashtra, India. Phone: US: +1-424-253-0390 UK: +44-2071-939123 APAC: +91-744-740-1245 Email: sales@fortunebusinessinsights.com Fortune Business Insights™ LinkedIn | Twitter | Blogs Read Press Release https://www.fortunebusinessinsights.com/press-release/global-payment-processing-solutions-market-10337
5 minutes ago
GlobeNewswire
DNA Plc’s Annual Report including Board of Directors' Report and Financial Statements for 2020 is published
DNA PLC STOCK EXCHANGE RELEASE 4 MARCH 2021 12:00 PM EET The annual report includes DNA’s Corporate Sustainability Report, Corporate Governance Statement, Board of Directors' Report as well as Financial Statements consisting of the Consolidated Financial Statements and the Parent Company Financial Statements. Among other things, the annual report covers the essential changes to DNA’s internal practices and services brought on by the Telenor ownership. In addition, DNA’s Corporate Sustainability Report describes the progress of DNA’s corporate sustainability work in 2020: DNA’s sustainability programme was restructured by introducing data security and protection as a new key area alongside digital inclusion, climate-friendly operations, being a great place to work and good governance. The Annual Report is available in Finnish and English on DNA’s website: https://corporate.dna.fi/finance/reports/annual-reports-and-csr-reports Additional information:DNA Corporate Communications, tel. +358 (0)44 044 8000, communications@dna.fi Attachment DNA_annual_2020
5 minutes ago
GlobeNewswire
Norwegian Finans Holding ASA: Potential strategic interest in Norwegian Finans Holding ASA
The Board of Directors in Norwegian Finans Holding ASA (“the Company”) refers to the announcement at 08.00 CET at 4 March, where Nordax Bank AB announces its intention to launch a voluntary offer for the shares in the company. The Board of Directors will consider any offer launched. Shareholders are advised to refrain from taking any action in respect of their shares in the Company, before the Board of Directors has given their recommendation, and to exercise caution when dealing in the shares of the Company. Such actions may be prejudicial to shareholders interests. There can be no certainty that any offer will be made or completed. Further announcements will be made as required. For any questions please call: Klaus-Anders Nysteen, Chairman of the Board of Directors, phone: +47 99 26 56 91 / + 46 72-566 54 15 Tine Wollebekk, CEO, phone: +47 40 80 55 57 Klara-Lise Aasen, CFO, phone: +47 47 63 55 83 This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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GlobeNewswire
Autism Spectrum Disorder Therapeutics Market Projected to Hit USD 4,612.1 Million and Surge at 4.3% CAGR by 2026; Awareness Campaigns Conducted to Spread Awareness Regarding the Condition to Propel Growth, Says Fortune Business Insights™
Top Players Covered in the Autism Spectrum Disorder Therapeutics Market Research Report Applied Behavior Consultants, Allergan, Pfizer Inc., Q BioMed Inc, Fusion Autism Cente, AstraZeneca, Hopebridge, LLC., Johnson & Johnson Services, Inc., Behavior Innovations, Eli Lilly and Company, Otsuka Holdings Co. Ltd. and other key market playersPune, India, March 04, 2021 (GLOBE NEWSWIRE) -- According to a report published by Fortune Business Insights, titled, “Autism Spectrum Disorder Therapeutics Market”: Global Market Analysis, Insights and Forecast, 2018-2026,” the global market is likely to reach US$ 4,612.1 Mn by 2026 owing to the rising incidence of autism spectrum disorder worldwide. The report provides valuable insights into the global market trends and factors that are directly affecting the growth of the market. As per the report, the global autism spectrum disorder therapeutics market was worth US$ 3,293.0 Mn in 2018. Considering the increasing awareness programs regarding this particular disorder and less availability of treatment options, the global market is expected to rise at a moderate CAGR of 4.3% during the forecast period (2019-2026). The report further states that the number of children diagnosed with autism is increasing day by day across the globe. This, combined with favorable reimbursement scenario, will increase the demand for applied behavioral analysis therapies. Such therapies aid in improving learning and physical disabilities in autistic children. Furthermore, FDA approvals of numerous medicines that are used to manage autism spectrum disorder are expected to propel the global autism spectrum disorder therapeutics market during the forecast period. Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/autism-spectrum-disorder-therapeutics-market-101207 Autistic Disorder Segment to Witness Growth Owing to the Rising Prevalence of the Disease The global autism spectrum disorder therapeutics market is grouped into drug therapy and communication and behavioral therapy in terms of treatment type. Amongst these, the communication and behavioral therapy segment was in the leading position in the global market. Fortune Business Insights predicts that it will retain its position throughout the forecast period. In terms of type, the autism spectrum disorder therapeutics market is classified into Asperger syndrome, autistic disorder, pervasive development disorder, and others. Out of these, the autistic disorder segment procured the highest autism spectrum disorder therapeutics market share in the year 2018. It is anticipated to witness significant growth in the coming years. This growth is attributed to the increasing prevalence of this disorder. For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/autism-spectrum-disorder-therapeutics-market-101207 Fusion Autism Center Opens its New Therapy Center to Provide Pediatric Services Several renowned market players have begun investing huge sums in the research and development of advanced and effective drugs for the treatment of autism spectrum disorder. This will contribute to the global autism spectrum disorder therapeutics market growth in the coming years. Below are three latest initiatives that have been recently taken by the prominent market players to drive global market sales. Fusion Autism Center (FAC), a mental health service provider, based in the U.S.A., announced in February 2019 that it has successfully expanded its center-based services of Applied Behavioral Analysis therapy for kids on the autism spectrum. The new center is built in Augusta so that it would provide much-needed services to the communities with special needs residing in the area. Apart from that, FAC has its centers in Roswell, Woodstock, Cumming, Peachtree, and Duluth. Quick Buy Autism Spectrum Disorder Therapeutics Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/101207 Q BioMed Inc., a prominent developer of biomedical assets, based in New York, announced in June 2018 that it has applied for Orphan Drug status with European and the U.S. regulators for QBM-001, the company’s pediatric autism drug. F. Hoffmann-La Roche Ltd., a multinational healthcare company, headquartered in Switzerland, announced that the FDA has approved Breakthrough Therapy Designation for its oral medication balovaptan in January 2018. The investigational oral medicine has the potential to improve communication and interaction abilities of those affected with autism spectrum disorder. Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/autism-spectrum-disorder-therapeutics-market-101207 List of the Companies Profiled in the Global Market: Applied Behavior Consultants, Allergan, Pfizer Inc., Q BioMed Inc, Fusion Autism Center, AstraZeneca, Hopebridge, LLC., Johnson & Johnson Services, Inc., Behavior Innovations, Eli Lilly and Company, Otsuka Holdings Co. Ltd., other prominent market players. Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/autism-spectrum-disorder-therapeutics-market-101207 Detailed Table of Content: Introduction Research ScopeMarket SegmentationResearch MethodologyDefinitions and Assumptions Executive SummaryMarket Dynamics Market DriversMarket RestraintsMarket Opportunities Key Insights Prevalence of Autism Spectrum Disorder for Key Countries/Region Recent Industry Developments Such As Partnerships, Mergers, & Acquisitions Regulatory Framework by Key Countries Global Reimbursement Scenario and Economic Cost Burden for the Treatment of Autism Spectrum Disorder by Key Countries/Region Global Autism Spectrum Disorder Therapeutics Market Analysis, Insights and Forecast, 2015-2026 Key Findings / SummaryMarket Analysis, Insights and Forecast – By Type Autistic DisorderAsperger SyndromePervasive Developmental DisorderOthers Market Analysis, Insights and Forecast – By Treatment Type Communication & Behavioral Therapies Applied behavior analysis (ABA)Speech & Language TherapyOccupational TherapyOthers Drug Therapies Antipsychotic DrugsSSRISStimulantsSleep MedicationsOthers Market Analysis, Insights and Forecast – By Region North AmericaEuropeAsia pacificLatin AmericaMiddle East & Africa TOC Continued…!! Have a Look at Related Reports: MicroRNA Market Size, Share & Covid-19 Impact Analysis, By Product (Instruments and Kits & Reagents) By Application (Isolation & Purification, Detection & Quantification, Disease Diagnostics, and Others) and By End User (Pharma & Biotech Companies, Academic & Research Institutes, Healthcare Facilities, and Others), Regional Forecast, 2020-2027 Nurse Call Systems Company Size, Share & Industry Analysis, By Technology (Wired, Wireless), By Product (Basic Button Based Systems, Mobile Integrated Systems, IP Based Systems, Others), By End-user (Hospitals and Clinics, Assisted Living and Nursing Centres, Home Care Setting, Others), and Regional Forecast, 2019 – 2026 Telerehabilitation Market Size, Share and Covid-19 Impact Analysis, By Type (Products, Services), By Application (Occupational Therapy, Physical Therapy, Chronic Diseases, and Others), By End-User (Healthcare Facilities and Homecare); and Regional Forecast, 2020-2027 Active Wound Care Market Share and Industry Analysis by Product Type (Biological Skin Equivalents, Growth Factors, Biological Dressings, Others), By Indication (Diabetic Foot Ulcers, Pressure Ulcers, Lower Limb Ulcers), By End User (Hospitals, Clinics, Home Care Settings), and Regional Forecast 2018-2025 About Us: Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges. Contact Us: Fortune Business Insights™ Pvt. Ltd. 308, Supreme Headquarters, Survey No. 36, Baner, Pune-Bangalore Highway, Pune - 411045, Maharashtra, India. Phone:US :+1 424 253 0390UK : +44 2071 939123APAC : +91 744 740 1245Email: sales@fortunebusinessinsights.comFortune Business Insights™LinkedIn | Twitter | Blogs Press: https://www.fortunebusinessinsights.com/press-release/autism-spectrum-disorder-therapeutics-market-9236
5 minutes ago
GlobeNewswire
‘New Normal’ Looms for Canadians with COVID-19 Deferral Programs Ending
Overall Consumer Debt Climbs due to Increased Mortgage ActivityTORONTO, March 04, 2021 (GLOBE NEWSWIRE) -- Increased mortgage activity and rising house prices in the fourth quarter of 2020 pushed the overall consumer debt level to $2.07 trillion, up 1.5 per cent from last quarter and up 4.1 per cent from Q4 2019, according to Equifax Canada’s most recent report on consumer credit conditions. Despite the increase in total debt, the average consumer debt (excluding mortgages) dropped again this quarter to $23,043, which is a year-over-year decrease of 3.0 per cent and a decline of 0.8 per cent compared to the previous quarter. The drop in consumer debt is primarily due to credit card balance which has been gradually declining since March last year due to reduced spending and consumers paying down more of their balance on a monthly basis. “This reduction has been a positive consumer shift but that’s not to say we are out of the woods in terms of recovery,” said Rebecca Oakes, AVP of Advanced Analytics at Equifax Canada. “Deferral programs are ending and pockets of financial stress are starting to emerge for some consumers. Credit card spend is also starting to rise again.” Deferrals and delinquencies during the pandemic More than three million Canadians took advantage of credit payment deferrals since the start of the pandemic and four out of five of these have now completely exited the use of deferral programs. Payment deferrals have been instrumental in preventing consumers impacted by the pandemic from becoming delinquent on their debt obligations. Even as consumers come out of deferral programs, the 90+ day delinquency rate for non-mortgage products stayed level in Q4 at 0.98 per cent while the same rate for mortgages was 0.16 per cent. However, early-stage delinquency (where an individual has missed one or two months of payments) continued to rise during Q4. Mortgages saw a 31 per cent increase in the 30+ day delinquency rate, while the 30+ day delinquency rate on installment loans jumped by 76 per cent when compared to Q3 2020. “The numbers suggest recovery will remain very uneven,” added Oakes. “Quebec, for example, has shown early non-mortgage delinquency continue to fall despite consumers leaving deferral programs, whereas Alberta has the highest increase in consumers missing mortgage payments. The support mechanisms across Canada remain pivotal in the prevention of further increased delinquency levels.” First-time homebuyers, low interest rates and lendingHigh demand for housing and lower interest rates continued to fuel new mortgages with a 22.1 per cent year-over-year volume growth in Q4 2020. The average mortgage loan amount rose by 14.4 per cent when compared to Q4 2019, marking the biggest year-over-year jump since 2015. Higher loan amounts can also be attributed to first-time homebuyers who saw higher than average year over year volume growth of 26.9 per cent in Q4 2020. “Rising prices in real estate hot spots have led to first-time homebuyers taking on more mortgage debt than ever in order to get their foot on the property ladder,” said Oakes. “For example, in B.C. we saw average new mortgages for first-time buyers exceed $470K during the last quarter yet they are not being deterred; volumes were up more than 35 per cent compared to the same period in 2019.” New auto finance and installment loans trended down this quarter with an 8.4 per cent and a 21.5 per cent year over year drop respectively, meanwhile, new credit cards are slowly recovering with a 10 per cent increase versus the last quarter. Lenders are also showing some signs of caution as a result of this uncertain period. Consumers are still being offered additional credit, but on higher interest rate products like credit cards, limits on newly-opened cards have been lower for the last two quarters when compared to the same periods in 2019. “During periods of economic uncertainty, consumers and lenders may take proactive action to reduce variability in credit commitments, switching or encouraging the use of lower interest rate products,” said Oakes. “We are still in an uncertain period with some isolated pockets of financial stress emerging. We will continue to closely monitor this over the coming months.” Debt (excluding mortgages) & Delinquency Rates Age Average Debt (Q4 2020)Average Debt Change Year-over-Year (Q4 2020 vs. Q4 2019)Delinquency Rate(Q4 2020)Delinquency Rate Change Year-over-Year (Q4 2020 vs. Q4 2019)18-25$8,747-1.13%1.29%-21.48%26-35$17,868-2.35%1.37%-20.04%36-45$27,893-3.36%1.10%-19.64%46-55$35,252-2.73%0.86%-16.27%56-65$29,369-3.13%0.77%-14.77%65+$15,871-3.76%0.91%-13.90%Canada$23,043-3.02%0.98%-17.52% Major City Analysis – Debt (excluding mortgages) & Delinquency Rates CityAverage Debt (Q4 2020)Average Debt Change Year-over-Year (Q4 2020 vs. Q4 2019)Delinquency Rate(Q4 2020)Delinquency Rate Change Year-over-Year (Q4 2020 vs. Q4 2019)Calgary$28,829-3.22%1.19%-13.60%Edmonton$27,319-3.64%1.43%-10.57%Halifax$22,584-4.16%1.17%-23.12%Montreal$17,103-4.76%0.94%-27.25%Ottawa$21,891-3.82%0.82%-17.23%Toronto$23,200-1.24%1.09%-13.75%Vancouver$26,172-1.59%0.69%-15.02%St. John's$25,155-1.54%1.35%-22.27%Fort McMurray$39,7170.11%1.69%-13.02% Province Analysis - Debt (excluding mortgages) & Delinquency Rates ProvinceAverage Debt (Q4 2020)Average Debt Change Year-over-Year (Q4 2020 vs. Q4 2019)Delinquency Rate(Q4 2020)Delinquency Rate Change Year-over-Year (Q4 2020 vs. Q4 2019)Ontario$23,883-2.14%0.91%-15.31%Quebec$18,888-4.76%0.75%-28.82%Nova Scotia$21,969-2.98%1.37%-23.59%New Brunswick$23,217-2.74%1.51%-18.52%PEI$23,070-0.70%0.96%-21.91%Newfoundland$23,836-0.99%1.40%-23.71%Eastern Region$22,832-2.32%1.40%-21.89%Alberta$28,099-3.36%1.36%-10.96%Manitoba$18,030-4.68%1.21%-17.93%Saskatchewan$23,927-3.48%1.32%-16.54%British Columbia$24,317-2.15%0.83%-14.66%Western Region$24,988-2.95%1.12%-13.60%Canada$23,043-3.02%0.98%-17.52% * Based on Equifax data for Q4 2020 About EquifaxAt Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employees, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by more than 11,000 employees worldwide, Equifax operates or has investments in 25 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.ca and follow the company’s news on LinkedIn. Contact: Andrew FindlaterTom CarrollSELECT Public RelationsEquifax Canada Media Relations afindlater@selectpr.ca MediaRelationsCanada@equifax.com (647) 444-1197
5 minutes ago
GlobeNewswire
Baozun Announces Fourth Quarter and Fiscal Year 2020 Unaudited Financial Results
SHANGHAI, China, March 04, 2021 (GLOBE NEWSWIRE) -- Baozun Inc. (Nasdaq: BZUN and HKEX: 9991) (“Baozun” or the “Company”), the leading brand e-commerce service partner that helps brands execute their e-commerce strategies in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2020. Fourth Quarter 2020 Financial Highlights Total net revenues were RMB3,346.7 million (US$1512.9 million), an increase of 20.2% year-over-year. Services revenue was RMB1,872.5 million (US$287.0 million), an increase of 25.6% year-over-year.Income from operations was RMB300.6 million (US$46.1 million), an increase of 53.4% year-over-year. Operating margin was 9.0%, compared with 7.0% in the same quarter of last year.Non-GAAP income from operations2 was RMB333.1 million (US$51.1 million), an increase of 53.8% year-over-year. Non-GAAP operating margin was 10.0%, compared with 7.8% in the same quarter of last year.Net income attributable to ordinary shareholders of Baozun Inc. was RMB239.3 million (US$36.7 million), an increase of 69.9% year-over-year.Non-GAAP net income attributable to ordinary shareholders of Baozun Inc.3 was RMB271.6 million (US$41.6 million), an increase of 68.4% year-over-year.Basic and diluted net income attributable to ordinary shareholders of Baozun Inc. per American Depository Share (“ADS4”) were RMB3.27 (US$0.50) and RMB3.17 (US$0.49), respectively, compared with RMB2.42 and RMB2.36, respectively, for the same period of 2019.Basic and diluted non-GAAP net income attributable to ordinary shareholders of Baozun Inc. per ADS5 were RMB3.71 (US$0.57) and RMB3.58 (US$0.55), respectively, compared with RMB2.77 and RMB2.71, respectively, for the same period of 2019. ________________1 This announcement contains translations of certain Renminbi (RMB) amounts into U.S. dollars (US$) at a specified rate solely for the convenience of the reader. Unless otherwise noted, the translation of RMB into US$ has been made at RMB6.5250 to US$1.00, the noon buying rate in effect on December 31, 2020 as set forth in the H.10 Statistical Release of the Federal Reserve Board.2 Non-GAAP income from operations is a non-GAAP financial measure, which is defined as income from operations excluding share-based compensation expenses and amortization of intangible assets resulting from business acquisition.3 Non-GAAP net income attributable to ordinary shareholders of Baozun Inc. is a non-GAAP financial measure, which is defined as net income attributable to ordinary shareholders of Baozun Inc. excluding share-based compensation expenses and amortization of intangible assets resulting from business acquisition.4 Each ADS represents three Class A ordinary shares.5 Basic and diluted non-GAAP net income attributable to ordinary shareholders of Baozun Inc. per ADS are non-GAAP financial measures, which are defined as non-GAAP net income attributable to ordinary shareholders of Baozun Inc. divided by weighted average number of shares used in calculating basic and diluted net income per ordinary share multiplied by three, respectively.6 GMV includes value added tax and excludes (i) shipping charges, (ii) surcharges and other taxes, (iii) value of the goods that are returned and (iv) deposits for purchases that have not been settled.7 Distribution GMV refers to the GMV under the distribution business model.8 Non-distribution GMV refers to the GMV under the service fee business model and the consignment business model. Fourth Quarter 2020 Operational Highlights Total Gross Merchandise Volume (“GMV”)6 was RMB22,872.8 million, an increase of 28.7% year-over-year.Distribution GMV7 was RMB1,645.8 million, an increase of 13.6% year-over-year.Non-distribution GMV8 was RMB21,227.0 million, an increase of 30.0% year-over-year.Number of brand partners increased to 266 as of December 31, 2020, from 231 as of December 31, 2019.Number of GMV brand partners increased to 258 as of December 31, 2020, from 222 as of December 31, 2019. Fiscal Year 2020 Financial Highlights Total net revenues were RMB8,851.6 million (US$1,356.6 million), an increase of 21.6% year-over-year.Income from operations was RMB558.7 million (US$85.6 million), an increase of 45.6% year-over-year.Non-GAAP income from operations was RMB668.7 million (US$102.5 million), an increase of 45.2% year-over-year.Net income attributable to ordinary shareholders of Baozun Inc. was RMB426.0 million (US$65.3 million), an increase of 51.4% year-over-year.Non-GAAP net income attributable to ordinary shareholders of Baozun Inc. was RMB535.0 million (US$82.0 million), an increase of 49.8% year-over-year.Basic and diluted net income attributable to ordinary shareholders of Baozun Inc. per ADS were RMB6.82 (US$1.05) and RMB6.69 (US$1.03), respectively, compared with RMB4.85 and RMB4.72, respectively, for the fiscal year of 2019.Basic and diluted non-GAAP net income attributable to ordinary shareholders of Baozun Inc. per ADS were RMB8.57 (US$1.31) and RMB8.40 (US$1.29), respectively, compared with RMB6.16 and RMB5.99, respectively, for the fiscal year of 2019. Fiscal Year 2020 Operational Highlights Total GMV was RMB55,687.4 million, an increase of 25.4% year-over-year.Distribution GMV was RMB4,334.6 million, an increase of 12.6% year-over-year.Non-distribution GMV was RMB51,352.8 million, an increase of 26.6% year-over-year. Mr. Vincent Qiu, Chairman and Chief Executive Officer of Baozun, commented, “While digitalization continues to advance, our unique position as a leading strategic partner enables us to keep our brand partners ahead of the curve as China’s e-commerce industry evolves. As we look forward, we reiterate our vision of “Technology empowers future success”, and with our commitment to technology and innovation, we plan to continue delivering to our brand partners a “customer-centric” e-commerce solution to further penetrate our value proposition. To capitalize on the opportunities and growing total addressable market ahead, we are launching a three-to-five-year medium-term strategic plan focusing on three areas, specifically, customer-oriented service penetration, new business expansion through omni-channel and new models, as well as cost optimization and transformation. We believe our multi-year strategy positions us well for 2021 and long-term sustainable and profitable growth for years beyond.” “What was abundantly clear throughout 2020 is that our people are our greatest asset. Our culture is one of delivering quality through developing people. I am proud of the resilience, agility and commitment demonstrated by the Baozun team, and we are honored to have been once again named "Shanghai Best Employers Top 30" at one of the most influential and prestigious nomination events. Finally, I am excited to announce a major office move, planned for the second half of 2021, to an over 40,000 meter-square new headquarter. This will give us space to accommodate our growing team and enable us to hire additional talent to provide industry-leading support and service to our global brand partners. We believe that the new Baozun campus will support future business expansion and nurture the Baozun culture of leading-edge innovation.” Mr. Vincent Qiu concluded. Mr. Arthur Yu, Chief Financial Officer of Baozun, commented, “As we look back at 2020, we demonstrated good execution of our growth strategy, which was reflected in our 22% year-over-year increase in net revenues. Moreover, we made even more progress on profitability as our non-GAAP income from operations rose 45% year-over-year, and we generated positive operating cash flow for the second consecutive year. In addition, our secondary listing on the Hong Kong Stock Exchange positioned us with a solid cash foundation to pursue an exciting new journey to further boost growth momentum. Looking ahead, while we take our value proposition further with our brand partners, we will explore new growth opportunities both organically and through M&A opportunities to drive top line improvement. We also plan to further optimize our cost base through efficiency and business process re-engineering to improve our competitiveness and profitability. Last but not least, we are initiating a comprehensive ESG program which we believe will be critical for long-term sustainable growth. In everything we do and plan our ultimate goal is to generate long-term value for our shareholders.” Fourth Quarter 2020 Financial Results Total net revenues were RMB3,346.7 million (US$512.9 million), an increase of 20.2% from RMB 2,784.1 million in the same quarter of last year. Product sales revenue was RMB1,474.2 million (US$225.9 million), an increase of 14.0% from RMB 1,293.1 million in the same quarter of last year. The increase was primarily attributable to the increased popularity of brand partners’ products, partially offset by a decrease in product sales revenue in personal-care products in appliances category. Services revenue was RMB1,872.5 million (US$287.0 million), an increase of 25.6% from RMB 1,491.0 million in the same quarter of last year. The increase was primarily attributable to the rapid growth of the Company’s consignment model and service fee model. Total operating expenses were RMB3,046.1 million (US$466.8 million), compared with RMB 2,588.2 million in the same quarter of last year. Cost of products was RMB1,286.7 million (US$197.2 million), compared with RMB1,057.3 million in the same quarter of last year. The increase was primarily due to higher costs associated with an increase in product sales revenue.Fulfillment expenses were RMB851.0 million (US$130.4 million), compared with RMB 665.3 million in the same quarter of last year. The increase was primarily due to a rise in GMV contribution from the Company’s distribution and consignment model, an increase of hourly-rate in selection cost due to an extended 2020 11.11 Shopping Festival, and an increase in warehouse rental expenses associated with expanded warehouse capacity to address additional growth opportunities, all of which were partially offset by efficiency improvements.Sales and marketing expenses were RMB741.4 million (US$113.6 million), compared with RMB648.0 million in the same quarter of last year. The increase was in line with GMV growth and an increase in digital marketing services, which was partially offset by efficiency improvements.Technology and content expenses were RMB110.1 million (US$16.9 million) compared with RMB108.7 million in the same quarter of last year. The slight increase was mainly attributable to the Company’s continuous efforts in investments in innovation and productization, partially offset by the Company’s cost control initiatives and efficiency improvements.General and administrative expenses were RMB69.2 million (US$10.6 million), compared with RMB66.8 million in the same quarter of last year. The increase was primarily due to a rise in administrative, corporate strategy, and business planning staff, which were partially offset by the leverage gained while the Company scales its business. Income from operations was RMB300.6 million (US$46.1 million), an increase of 53.4% compared with RMB195.9 million in the same quarter of last year. Operating margin was 9.0%, compared with 7.0% in the same quarter of last year. Non-GAAP income from operations was RMB333.1 million (US$51.1 million), an increase of 53.8% compared with RMB216.6 million in the same quarter of last year. Non-GAAP operating margin was 10.0%, compared with 7.8% in the same quarter of last year. Net income attributable to ordinary shareholders of Baozun Inc. was RMB239.3 million (US$36.7 million), an increase of 69.9% from the same quarter of last year. Basic and diluted net income attributable to ordinary shareholders of Baozun Inc. per ADS were RMB3.27 (US$0.50) and RMB3.17 (US$0.49), respectively, compared with RMB2.42 and RMB2.36, respectively, in the same period of 2019. Non-GAAP net income attributable to ordinary shareholders of Baozun Inc. was RMB271.6 million (US$41.6 million), an increase of 68.4% from the same quarter of last year. Basic and diluted non-GAAP net income attributable to ordinary shareholders of Baozun Inc. per ADS were RMB3.71 (US$0.57) and RMB3.58 (US$0.55), respectively, compared with RMB2.77 and RMB2.71, respectively, in the same period of 2019. Fiscal Year 2020 Financial Results Total net revenues were RMB8,851.6 million (US$1,356.6 million), an increase of 21.6% from RMB 7,278.2 million in fiscal year 2019. Product sales revenue was RMB3,906.6 million (US$598.7 million), an increase of 14.2% from RMB 3,422.2 million in fiscal year 2019. The increase was primarily attributable to the increased popularity of brand partners’ products, partially offset by slower growth in personal-care products in appliances category. Services revenue was RMB4,945.0 million (US$757.8 million), an increase of 28.2% from RMB 3,856.0 million in fiscal year 2019. The increase was primarily attributable to the rapid growth of the Company’s consignment model and service fee model. Total operating expenses were RMB8,292.9 million (US$1,270.9 million), compared with RMB6,894.5 million in fiscal year 2019. Cost of products was RMB3,326.2 million (US$509.8 million), compared with RMB2,774.3 million in fiscal year 2019, with the increase primarily due to higher costs associated with an increase in product sales revenue.Fulfillment expenses were RMB2,259.2 million (US$346.2 million), compared with RMB1,678.2 million in fiscal year 2019. The increase was primarily due to a rise in GMV contribution from the Company’s distribution and consignment model and an increase in warehouse rental expenses associated with expanded warehouse capacity to address additional growth opportunities, which were partially offset by efficiency improvements.Sales and marketing expenses were RMB2,130.7 million (US$326.5 million), compared with RMB1,815.6 million in fiscal year 2019. The increase was in line with GMV growth and an increase in digital marketing services, which were partially offset by efficiency improvements.Technology and content expenses were RMB409.9 million (US$62.8 million), compared with RMB393.0 million in fiscal year 2019. The increase was in line with GMV growth, and the Company’s continuous efforts in investments in innovation and productization, partially offset by the Company’s cost control initiatives and efficiency improvements.General and administrative expenses were RMB224.0 million (US$34.3 million), compared with RMB215.7 million in fiscal year 2019. The increase was primarily due to an increase in administrative, corporate strategy, and business planning staff, which were partially offset by the leverage gained while the Company scales its business. Income from operations was RMB558.7 million (US$85.6 million), an increase of 45.6% compared with RMB383.7 million in fiscal year 2019. Operating margin was 6.3%, compared with 5.3% in fiscal year 2019. Non-GAAP income from operations was RMB668.7 million (US$102.5 million), an increase of 45.2% compared with RMB460.4 million in fiscal year 2019. Non-GAAP operating margin was 7.6%, compared with 6.3% in fiscal year 2019. Net income attributable to ordinary shareholders of Baozun Inc. was RMB426.0 million (US$65.3 million), an increase of 51.4% from RMB281.3 million in fiscal year 2019. Basic and diluted net income attributable to ordinary shareholders of Baozun Inc. per ADS were RMB6.82 (US$1.05) and RMB6.69 (US$1.03), respectively, compared with RMB4.85 and RMB4.72, respectively, in fiscal year 2019. Non-GAAP net income attributable to ordinary shareholders of Baozun Inc. was RMB535.0 million (US$82.0 million), an increase of 49.8% from RMB357.1 million in fiscal year 2019. Basic and diluted non-GAAP net income attributable to ordinary shareholders of Baozun Inc. per ADS were RMB8.57 (US$1.31) and RMB8.40 (US$1.29), respectively, compared with RMB6.16 and RMB5.99, respectively, in fiscal year 2019. As of December 31, 2020, the Company had RMB5,028.5 million (US$770.7 million) in cash, cash equivalents and short-term investments, an increase from RMB1,988.5 million as of December 31, 2019. The significant increase in cash, cash equivalents and short-term investments was mainly attributable to the offering proceeds received from the issuance of the Company’s ordinary shares in connection with the Company’s secondary listing on the Hong Kong Stock Exchange. Most Recent Update Equity Investment and Strategic Business Cooperation with iClick Interactive Asia Group Limited (“iClick”) On January 26, 2021, Baozun entered into certain agreements with iClick, an independent online marketing and enterprise data solutions provider in China. Pursuant to the share subscription agreement entered into between Baozun and iClick, and a share purchase agreement with an existing shareholder of iClick, Baozun has acquired and beneficially owns approximately 4% of iClick’s total outstanding shares, representing approximately 10% total voting equity of iClick based on ordinary shares of iClick outstanding as of January 25, 2021 and taking into account the ordinary shares subscribed by Baozun. Under the strategic cooperation framework agreement between Baozun and iClick, Baozun will provide online operation and infrastructure services to brand partners, including but not limited to performance-based advertising, online-store operation, customer services, warehousing and fulfillment and relevant back-end systems, while iClick will provide SaaS-based IT and system solutions for clients’ e-commerce infrastructure establishment in the Tencent ecosystem, including but not limited to storefront setup, social CRM system, data management platform, marketing automation tool and any additional SaaS products as required. Both parties are expected to jointly develop a private domain traffic platform within Tencent’s e-commerce ecosystem. Acquisition of Full Jet Limited (“Full Jet”) to Accelerate Expansion of Luxury and Premium Brand Footprint On February 2, 2021, Baozun entered into a share purchase agreement to acquire a 100% equity interest in Full Jet, a strategic and brand-focused industry expert that specializes in developing go-to-market strategies for high-end and luxury brands entering the Chinese market. Full Jet’s key business coverage includes brand development, strategic consulting, e-commerce operations and marketing. Full Jet has global offices in Paris, Hong Kong and Shanghai, China. The acquisition was closed on February 5, 2021. The Company believes that this strategic acquisition of Full Jet strengthens the Company’s expertise in business development, strategic consulting, and brand management, and expands its geographic touchpoints with premium and luxury brands globally. The acquisition is expected to help Baozun unlock the potential for future growth of premium and luxury sectors and develop additional strong growth drivers over the coming years. Conference Call The Company will host a conference call to discuss the earnings at 7:00 a.m. Eastern Time on Thursday, March 4, 2021 (8:00 p.m. Beijing time on the same day). Due to the outbreak of COVID-19, operator assisted conference calls are not available at the moment. All participants wishing to attend the call must preregister online before they can receive the dial-in numbers. Preregistration may require a few minutes to complete. The Company would like to apologize for any inconvenience caused by not having an operator as a result of COVID-19. Participants can register for the conference call by navigating to http://apac.directeventreg.com/registration/event/8393732. Once preregistration has been completed, participants will receive dial-in numbers, the passcode, and a unique access PIN. To join the conference, simply dial the number in the calendar invite you receive after preregistering, enter the passcode followed by your PIN, and you will join the conference instantly. A telephone replay of the call will be available after the conclusion of the conference call through 08:59 p.m. Beijing Time, March 12, 2021. Dial-in numbers for the replay are as follows:International Dial-in+61-2-8199-0299U.S. Toll Free+1-855-452-5696Passcode8393732# A live and archived webcast of the conference call will be available on the Investor Relations section of Baozun’s website at http://ir.baozun.com/. Use of Non-GAAP Financial Measures The Company also uses certain non-GAAP financial measures in evaluating its business. For example, the Company uses non-GAAP income from operations, non-GAAP operating margin, non-GAAP net income, non-GAAP net margin, non-GAAP net income attributable to ordinary shareholders of Baozun Inc. and non-GAAP net income attributable to ordinary shareholders of Baozun Inc. per ADS, as supplemental measures to review and assess its financial and operating performance. 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. Non-GAAP income from operations is income from operations excluding the impact of share-based compensation expenses and amortization of intangible assets resulting from business acquisition. Non-GAAP operating margin is non-GAAP income from operations as a percentage of total net revenues. Non-GAAP net income is net income excluding the impact of share-based compensation expenses and amortization of intangible assets resulting from business acquisition. Non-GAAP net margin is non-GAAP net income as a percentage of total net revenues. Non-GAAP net income attributable to ordinary shareholders of Baozun Inc. is net income attributable to ordinary shareholders of Baozun Inc. excluding the impact of share-based compensation expenses and amortization of intangible assets resulting from business acquisition. Non-GAAP net income attributable to ordinary shareholders of Baozun Inc. per ADS is non-GAAP net income attributable to ordinary shareholders of Baozun Inc. divided by weighted average number of shares used in calculating net income per ordinary share multiplied by three. The Company presents the non-GAAP financial measures because they are used by the Company’s management to evaluate the Company’s financial and operating performance and formulate business plans. Non-GAAP income from operations and non-GAAP net income enable the Company’s management to assess the Company’s financial and operating results without considering the impact of share-based compensation expenses and amortization of intangible assets resulting from business acquisition. Such items are non-cash expenses that are not directly related to the Company’s business operations. Share-based compensation expenses represent non-cash expenses associated with share options and restricted share units the Company grants under the share incentive plans. Amortization of intangible assets resulting from business acquisition represents non-cash expenses associated with intangible assets acquired through one-off business acquisition. The Company also believes that the use of the non-GAAP measures facilitates investors’ assessment of the Company’s financial and operating performance. 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 from operations, non-GAAP net income, non-GAAP net income attributable to ordinary shareholders of Baozun Inc., and non-GAAP net income attributable to ordinary shareholders of Baozun Inc. per ADS is that they do not reflect all items of income and expense that affect the Company’s operations. Share-based compensation expenses and amortization of intangible assets resulting from business acquisition have been and may continue to be incurred in the Company’s business and is not reflected in the presentation of non-GAAP income from operations and non-GAAP net income. Further, the non-GAAP measures may differ from the non-GAAP measures used by other companies, including peer companies, potentially limiting the comparability of their financial results to the Company’s. In light of the foregoing limitations, the non-GAAP income from operations, non-GAAP operating margin, non-GAAP net income, non-GAAP net margin, non-GAAP net income attributable to ordinary shareholders of Baozun Inc. and non-GAAP net income attributable to ordinary shareholders of Baozun Inc. per ADS for the period should not be considered in isolation from or as an alternative to income from operations, operating margin, net income, net margin, net income attributable to ordinary shareholders of Baozun Inc. and net income attributable to ordinary shareholders of Baozun Inc. per ADS, or other financial measures prepared in accordance with U.S. GAAP. The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measures, which should be considered when evaluating the Company’s performance. For reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the section of the accompanying tables titled, “Reconciliations of GAAP and Non-GAAP Results.” Safe Harbor Statements 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. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets,” “guidance,” “going forward,” “outlook” and similar statements. Statements that are not historical facts, including quotes from management in this announcement and statements about the Company’s strategies and goals, are or contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. 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 operations and business prospects; the Company’s business and operating strategies and its ability to implement such strategies; the Company’s ability to develop and manage its operations and business; competition for, among other things, capital, technology and skilled personnel; the Company’s ability to control costs; the Company’s dividend policy; changes to regulatory and operating conditions in the industry and geographical markets in which the Company operates; and other risks and uncertainties. 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 and Company’s announcements, notice or other documents published on the website of The Stock Exchange of Hong Kong Limited. All information provided in this press release is as of the date of this press release and are based on assumptions that the Company believes to be reasonable as of this date, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law. About Baozun Inc. Baozun Inc. is the leader and a pioneer in the brand e-commerce service industry in China. Baozun empowers a broad and diverse range of brands to grow and succeed by leveraging its end-to-end e-commerce service capabilities, omni-channel coverage and technology-driven solutions. Its integrated one-stop solutions address all core aspects of the e-commerce operations covering IT solutions, online store operations, digital marketing, customer services, and warehousing and fulfillment. For more information, please visit http://ir.baozun.com. For investor and media inquiries, please contact: Baozun Inc.Ms. Wendy SunEmail: ir@baozun.com ChristensenIn ChinaMr. Rene VanguestainePhone: +852-6686-1376E-mail: rvanguestaine@christensenir.com In U.S.Ms. Linda BergkampPhone: +1-480-614-3004Email: lbergkamp@ChristensenIR.com Baozun Inc.UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS(In thousands) As of December 31, 2019 December 31, 2020 December 31, 2020 RMB RMB US$ASSETS Current assets Cash and cash equivalents 1,144,451 3,579,665 548,608Restricted cash 382,359 151,354 23,196Short-term investments 844,040 1,448,843 222,045Accounts receivable, net 1,800,896 2,188,977 335,475Inventories, net 896,818 1,026,038 157,247Advances to suppliers 214,771 284,777 43,644Prepayments and other current assets 387,713 438,212 67,159Amounts due from related parties 19,323 40,935 6,274Total current assets 5,690,371 9,158,801 1,403,648 Non-current assets Long-term time deposits 209,495 - -Investments in equity investees 37,373 53,342 8,175Property and equipment, net 415,648 430,089 65,914Intangible assets, net 151,041 146,373 22,433Land use right, net 42,567 41,541 6,366Operating lease right-of-use assets 440,593 524,792 80,428Goodwill 13,574 13,574 2,080Other non-current assets 41,461 51,531 7,898Deferred tax assets 54,477 54,649 8,375Total non-current assets 1,406,229 1,315,891 201,669 Total assets 7,096,600 10,474,692 1,605,317 Baozun Inc.UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS(In thousands, except for share and per share data) As of December 31,2019 December 31, 2020 December 31, 2020 RMB RMB US$ LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Short-term loan 428,490 - - Accounts payable 877,093 421,562 64,607 Notes payable 210,693 500,820 76,754 Income tax payables 81,966 72,588 11,125 Accrued expenses and other current liabilities 581,122 991,180 151,905 Amounts due to related parties 6,796 44,997 6,896 Current operating lease liabilities 137,855 165,122 25,306 Total current liabilities 2,324,015 2,196,269 336,593 Non-current liabilities Long-term loan 1,859,896 1,762,847 270,168 Deferred tax liability 2,929 2,538 389 Long-term operating lease liabilities 309,989 370,434 56,772 Total non-current liabilities 2,172,814 2,135,819 327,329 Total liabilities 4,496,829 4,332,088 663,922 Redeemable non-controlling interests 9,254 9,000 1,379 Baozun Inc. shareholders’ equity: Class A ordinary shares (US$0.0001 par value; 470,000,000 shares authorized, 174,918,929 and 220,505,115 shares issued and outstanding as of December 31, 2019 and 2020, respectively) 107 137 21 Class B ordinary shares (US$0.0001 par value; 30,000,000 shares authorized, 13,300,738 shares issued and outstanding as of December 31, 2019 and 2020, respectively) 8 8 1 Additional paid-in capital 2,014,227 5,207,631 798,104 Retained earnings 526,009 952,001 145,901 Accumulated other comprehensive income 28,380 (48,756) (7,472)Total Baozun Inc. shareholders' equity 2,568,731 6,111,021 936,555 Non-controlling interests 21,786 22,583 3,461 Total equity 2,590,517 6,133,604 940,016 Total liabilities, redeemable non-controlling interests and equity 7,096,600 10,474,692 1,605,317 Baozun Inc.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME(In thousands, except for share and per share data and per ADS data) For the three months ended December 31, For the year ended December 31, 2019 2020 2019 2020 RMB RMB US$ RMB RMB US$ Net revenues Product sales 1,293,079 1,474,246 225,938 3,422,151 3,906,611 598,714 Services 1,491,048 1,872,452 286,966 3,856,041 4,944,952 757,847 Total net revenues 2,784,127 3,346,698 512,904 7,278,192 8,851,563 1,356,561 Operating expenses (1) Cost of products (1,057,311) (1,286,659) (197,189) (2,774,342) (3,326,243) (509,769)Fulfillment (665,322) (850,991) (130,420) (1,678,191) (2,259,176) (346,234)Sales and marketing (2) (647,972) (741,386) (113,622) (1,815,642) (2,130,667) (326,539)Technology and content (108,687) (110,148) (16,881) (392,951) (409,870) (62,815)General and administrative (66,802) (69,167) (10,600) (215,660) (224,045) (34,336)Other operating (expense) income, net (42,098) 12,281 1,882 (17,753) 57,115 8,753 Total operating expenses (2,588,192) (3,046,070) (466,830) (6,894,539) (8,292,886) (1,270,940)Income from operations 195,935 300,628 46,074 383,653 558,677 85,621 Other income (expenses) Interest income 13,147 13,679 2,096 42,614 41,373 6,341 Interest expense (19,973) (14,097) (2,160) (61,316) (66,124) (10,134)Impairment loss of investments (9,021) (10,000) (1,533) (9,021) (10,800) (1,655)Exchange (loss) gain (3,452) 25,544 3,915 (7,663) 25,725 3,943 Income before income tax 176,636 315,754 48,392 348,267 548,851 84,116 Income tax expense (3) (37,961) (75,951) (11,640) (71,144) (127,787) (19,584)Share of income (loss) in equity method investment, net of tax of nil 3,624 (967) (148) 4,768 5,470 838 Net income 142,299 238,836 36,604 281,891 426,534 65,370 Net (income) loss attributable to non-controlling interests (1,425) 511 78 (594) (542) (83)Net income attributable to ordinary shareholders of Baozun Inc. 140,874 239,347 36,682 281,297 425,992 65,287 Net income per share attributable to ordinary shareholders of Baozun Inc.: Basic 0.81 1.09 0.17 1.62 2.27 0.35 Diluted 0.79 1.06 0.16 1.57 2.23 0.34 Net income per ADS attributable to ordinary shareholders of Baozun Inc.: Basic 2.42 3.27 0.50 4.85 6.82 1.05 Diluted 2.36 3.17 0.49 4.72 6.69 1.03 Weighted average shares used in calculating net income per ordinary share: Basic 174,763,688 219,717,614 219,717,614 173,937,013 187,322,781 187,322,781 Diluted 178,703,772 239,172,660 239,172,660 178,932,010 190,988,171 190,988,171 Net income 142,299 238,836 36,604 281,891 426,534 65,370 Other comprehensive income, net of tax of nil: Foreign currency translation adjustment 8,433 (91,702) (14,054) (842) (77,136) (11,822)Comprehensive income 150,732 147,134 22,550 281,049 349,398 53,548 In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326), which requires all entities to disclose their current estimate of all expected credit losses. We adopted this ASU on January 1, 2020 using the modified retrospective transition method and no material adjustment to the opening balance of retained earnings of 2020 was necessary. The adoption of this new ASU has no material impact on our consolidated financial position and results of operations. (1) Share-based compensation expenses are allocated in operating expenses items as follows: For the three months ended December 31, For the year ended December 31, 2019 2020 2019 2020 RMB RMB US$ RMB RMB US$ Fulfillment 2,406 407 62 9,839 8,497 1,302Sales and marketing 6,048 11,760 1,803 22,209 38,631 5,921Technology and content 1,588 4,479 686 9,817 16,711 2,561General and administrative 10,244 15,452 2,368 33,318 44,601 6,835 20,286 32,098 4,919 75,183 108,440 16,619 (2) Including amortization of intangible assets resulting from business acquisition, which amounted to RMB0.4 million for both the three months period ended December 31, 2019 and 2020. Including amortization of intangible assets resulting from business acquisition, which amounted to RMB1.6 million for the year ended December 31, 2019 and 2020, respectively. (3) Including income tax benefits of RMB0.1 million related to the reversal of deferred tax liabilities, which was recognized on business acquisition for both the three months period ended December 31, 2019 and 2020. Including income tax benefits of RMB0.4 million related to the reversal of deferred tax liabilities, which was recognized on business acquisition for the year ended December 31, 2019 and 2020, respectively. Baozun Inc.Reconciliations of GAAP and Non-GAAP Results(in thousands, except for share and per ADS data) For the three months ended December 31, For the year ended December 31, 2019 2020 2019 2020 RMB RMB US$ RMB RMB US$ Income from operations 195,935 300,628 46,074 383,653 558,677 85,621 Add: Share-based compensation expenses 20,286 32,098 4,919 75,183 108,440 16,619 Amortization of intangible assets resulting from business acquisition 391 391 60 1,564 1,564 240 Non-GAAP income from operations 216,612 333,117 51,053 460,400 668,681 102,480 Net income 142,299 238,836 36,604 281,891 426,534 65,370 Add: Share-based compensation expenses 20,286 32,098 4,919 75,183 108,440 16,619 Amortization of intangible assets resulting from business acquisition 391 391 60 1,564 1,564 240 Less: Tax effect of amortization of intangible assets resulting from business acquisition (98) (98) (15) (392) (392) (60)Non-GAAP net income 162,878 271,227 41,568 358,246 536,146 82,169 Net income attributable to ordinary shareholders of Baozun Inc. 140,874 239,347 36,682 281,297 425,992 65,287 Add: Share-based compensation expenses 20,286 32,098 4,919 75,183 108,440 16,619 Amortization of intangible assets resulting from business acquisition 199 199 30 796 796 122 Less: Tax effect of amortization of intangible assets resulting from business acquisition (50) (50) (8) (200) (200) (31)Non-GAAP net income attributable to ordinary shareholders of Baozun Inc. 161,309 271,594 41,623 357,076 535,028 81,997 Non-GAAP net income attributable to ordinary shareholders of Baozun Inc. per ADS: Basic 2.77 3.71 0.57 6.16 8.57 1.31 Diluted 2.71 3.58 0.55 5.99 8.40 1.29 Weighted average shares used in calculating net income per ordinary share Basic 174,763,688 219,717,614 219,717,614 173,937,013 187,322,781 187,322,781 Diluted 178,703,772 239,172,660 239,172,660 178,932,010 190,988,171 190,988,171
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