Category Archives: Uncategorized

KT Builds Africa’s 1st Nationwide LTE Network in Rwanda

SEOUL, South Korea, May 14, 2018 /PRNewswire/ — KT Corp. (KRX: 030200) (NYSE: KT) has completed the construction of Rwanda’s nationwide LTE network, the first in Africa by South Korea’s top mobile carrier, as part of its efforts to boost global exports in the field of information and communications technology (ICT).

KT announced today that it celebrated the completion of Rwanda’s 4G LTE network at the Transform Africa Summit 2018, Africa’s largest ICT conference, which was held May 7-10 in the Rwandan capital, Kigali.

Addressing the summit on the landmark project, Yun Kyoung-Lim, President of KT Global Business Office, said that its completion represents a momentous stride in realizing ‘Smart Rwanda’ and the country’s Fourth Industrial Revolution.

With the completion of Africa’s first nationwide LTE network, 95 percent of the Rwandan people now have access to high-speed wireless broadband service. Rwanda has a population of about 12 million and 8.6 million people subscribe to mobile services, of which 1.15 million use smartphones.

The Rwandan government expects the faster mobile communication network will help improve the quality of life of the Rwandan people. The nationwide 4G coverage has been completed in the three and a half years since KT Rwanda Networks (KTRN), a joint venture between KT and the Rwandan government, launched commercial services from Kigali in November 2014.

Jean de Dieu Rurangirwa, Minister of Information Technology and Communication, Republic of Rwanda, called the network a splendid feat jointly achieved by KT and the Rwandan government. “Our government will continue to offer all possible support so that the network will improve the quality of people’s lives in many ways.”

KTRN has drawn attention as an outstanding example of public-private partnership. KT expects it will serve as a springboard for increased cooperation with other African countries, including Nigeria, South Africa, Malawi, Benin and Senegal.

Rwanda has hosted the Transform Africa Summit, organized by the Smart Africa Alliance, since 2013. This year’s summit, held at the Kigali Convention Center, drew the participation of 4,000 people, including the heads of state, cabinet ministers and project leaders from 54 countries.

Under the theme of ‘Accelerating Africa’s Single Digital Market,’ the summit comprised ministerial-level round table talks and forums on public-private partnership.

YPO anuncia os vencedores do Global Innovation Award de 2018

A premiação é destinada a líderes globais que dão início a revoluções inovadoras, transformadoras e inspiradoras

DALLAS, May 11, 2018 (GLOBE NEWSWIRE) — A YPO, principal organização de liderança de diretores executivos, anunciou os vencedores do Global Innovation Awards, como parte de sua terceira Semana de Inovação da YPO. O Global Innovation Awards premia esses membros da YPO que iniciaram inovações revolucionárias que inspiram transformações positivas.

Além de reconhecer os principais inovadores entre mais de 25.000 membros da YPO em 130 países, o Global Innovation Awards também reconhece o principal inovador da África e o principal inovador jovem adulto, que é filho de um membro da YPO (com idade entre 17 e 29).

“Todos os anos, a YPO tem essa incrível oportunidade de premiar e destacar esses importantes inovadores que estão deixando uma marca indelével em todo o mundo. O Global Innovation Awards destaca quem está abrindo caminho para a criação de empresas de pensamento vanguardista e de oportunidades significativas agora e para a geração atual e para as futuras gerações”, disse Keith Alper, Presidente da Semana de Inovação da YPO.

Durante o mês de maio, a Semana de Inovação da YPO de 2018 irá conectar empreendedores influentes, inovadores e líderes de pensamento para trocar ideias sobre inspiração, inovações e transformação através de mais de 50 eventos característicos, transmissões de vídeo interativas e eventos livestream em todo o mundo. A YPO anunciou o principal inovador africano na Africa Ignite, em Nairóbi, Quênia, e o vencedor do Global Innovation Award em Nova York.

Vencedores do Global Innovation Award de 2018

Global Innovation Award – Harjit Gill, X-Halo
Harjit Gill é o CEO do X-Halo, primeiro dispositivo do mundo a detectar o início de doenças respiratórias antes de qualquer sinal de sintoma. Conectado a um smartphone, o dispositivo é o único a oferecer avisos precoces da doença e rastrear a saúde do pulmão medindo a temperatura da respiração.

Com o dispositivo, uma vez que os sinais são detectados, os pacientes podem implementar mudanças no estilo de vida e nas opções de medicação para gerenciar qualquer problema em potencial a um custo acessível e em casa.

Global Innovation Award – Principal inovador africano – Yariv Cohen, Ignite Power
Yariv Cohen é o CEO da Ignite Power, um desenvolvedor e financiador pan-africano de soluções de energia limpa. Uma dessas soluções é um sistema de energia solar para residências da zona rural que se integra com serviços de movimentações financeiras via dispositivos móveis para um modelo de pagamento de energia de acordo com o uso e empréstimo que custa apenas US$4 por mês.

A Ignite Power conectou quase 500.000 pessoas à energia solar segura e possui projetos que atingiriam 10 milhões em 2021.

Global Innovation Award – Nova geração da YPO – Leslie Lim, Cicil
Leslie Lim é Cofundador da Cicil, uma startup de aceleradores de plataformas da Google focada em fornecer acesso financeiro ao segmento de estudantes universitário indonésios menos favorecidos. A Cicil oferece pequenos empréstimos a estudantes, ajudando-os de várias maneiras, incluindo o financiamento de notebooks e tablets, equipamento esportivo e muito mais.

“Parabéns aos homenageados com o Global Innovation Award de 2018, pois eles destacam a inovação e a amplitude de talentos da rede global da YPO”, disse Scott Mordell, CEO da YPO. “Esses inovadores estão acelerando o que vem por aí e abrindo o caminho para o futuro”.

Finalistas
Entre os finalistas do Global Innovation Awards da YPO, incluem-se:

Jerry Callahan, Fundador e CEO da Heatworks
Jerry Callahan é o inventor da Tecnologia de matriz ôhmica, que combina uma variedade de eletrodos de grafite com um mecanismo de controle digital, fornecendo um método puro e efetivo de aquecimento de água que usa água como elemento aquecedor ao invés de elementos de aquecimento metálicos.

Nicolas Durand, CEO e Fundador da Abionic
Nicolas Durand é o CEO e Fundador da Abionic, que desenvolveu a abioSCOPE, a primeira e mais rápida plataforma de diagnósticos baseada em uma gota de sangue para melhorar o disgnóstico médico no ponto de prestação de cuidados.

George Kurtz, Presidente, CEO e Cofundador da CrowdStrike
George Kurtz é o Presidente, CEO e Cofundador da CrowdStrike, uma empresa de tecnologia de cibersegurança altamente reconhecida por sua abordagem orientada para a nuvem que impede violações. A tecnologia da CrowdStrike — a plataforma Falcon — estabeleceu um novo padrão de ajuda às organizações para impedirem violações, estendendo-se para além de malwares para evitar ataques direcionados, independentemente de sua origem ou técnica.

Sunil Lalvani, Diretor Administrativo da Binatone Lifestyle Ltd.
Sunil Lalvani fundou o Project Maji para enfrentar o desafio global da água ao projetar e desenvolver quiosques de água movidos a energia solar em comunidades rurais da África Subsaariana para oferecer água potável. Atualmente, o Project Maji proporciona água limpa a 15.000 pessoas em 11 locais, com o objetivo de expandir para um milhão de pessoas em 2025.

Christina Lomasney, Presidente, CEO e Cofundadora da Modumetal, Inc.
Christina Lomasney é a Presidente, CEO e Cofundadora da Modumetal, que fabrica uma nova classe de metais em nanocamadas que são mais fortes, mais leves e mais duráveis que os metais e ligas convencionais. Embora derivem das mesmas matérias-primas básicas, como metais convencionais, as ligas nanolamindas da Modumetal podem ser usadas quase em todos os lugares onde metais e ligas são usados hoje, ao mesmo tempo em que oferecem melhorias de desempenho significativas em relação a metais convencionais.

Bob White, Presidente e CEO da Entellus Medical, Inc
Bob White é o Presidente e CEO da Entellus Medical, Inc, que criou o XprESS ENT Dilation System. O sistema, que tratou mais de 200.000 até o momento, é usado para tratamento minimamente invasivo de pacientes adultos e pediátricos com sinusite crônica e recorrente. Pacientes tratados com o sistema passaram por uma recuperação mais rápida, menos sangramento, menos uso de medicação para dor e menos debridamento.

Lee Zheng, Proprietário da Smart Technologies and Investment Ltd. e Fundador e CEO da PIN Genie
Lee Zheng é o proprietário da Smart Technologies and Investment e Fundador e CEO da PIN Genie. A PIN Genie é uma inovação da tecnologia PIN. Essa tecnologia patenteada altamente segura e à prova de espiadas pode ser aplicada em dispositivos que exigem o uso de PIN, impossibilitando que outras pessoas espionem um PIN e oferecendo mais segurança e conveniência aos usuários.

Sobre a Semana de Inovação da YPO

A Semana de Inovação da YPO é uma série de mais de 50 eventos conduzidos em mais de 30 países de 7 a 11 de maio de 2018, apresentando inovadores dinâmicos globais que estarão reunidos para compartilhar as melhores estratégias comerciais, bem como percepções oportunas e relevantes que estão alimentando a inovação e moldando o futuro do comércio global na próxima década.

Através de eventos característicos da Semana de Inovação, transmissões de vídeo interativas ao vivo e eventos livestream, os líderes comerciais irão aprender a como manter o ritmo com tendências de inovação em uma escala global, inovar e revolucionar as práticas do setor, nutrir e desenvolver ideias de criação de valor nas organizações e impactar positivamente comunidades, setores e o mundo.

Sobre a YPO

A principal organização de liderança de diretores-executivos do mundo.

A YPO é a plataforma global de engajamento, aprendizagem e crescimento de diretores-executivos. Os membros da YPO aproveitam o conhecimento, a influência e a confiança dos líderes das empresas mais influentes e inovadoras do mundo para inspirar empresas, pessoal, família e impacto na comunidade.

Hoje, a YPO capacita mais de 25.000 membros em mais de 130 países, de diversos setores e tipos de empresas. No total, as empresas-membro da YPO empregam 16 milhões de pessoas e geram receitas anuais de seis trilhões de dólares.

Liderança. Aprendizagem. Ao longo da vida. Para mais informações, visite YPO.org.

Contato:
YPO
Linda Fisk
Escritório: +1 972 629 7305 (Estados Unidos)
Celular: +1 972 207 4298
press@ypo.org

HubSpot Launches Service Hub to Transform the Way Businesses Delight their Customers

Growth was once solely the domain of sales and marketing – no longer. HubSpot’s new customer service product is designed to turn every customer interaction into a growth opportunity.

CAMBRIDGE, Massachusetts, May 10, 2018 /PRNewswire/ — HubSpot, a leading CRM, marketing, sales and customer service platform, announced today the general availability of Service Hub, the latest product line in the company’s growth platform. Announced at INBOUND 2017, Service Hub is an all-in-one customer service system that changes the way growing businesses approach and deliver customer support. Powered by HubSpot’s free CRM, Service Hub provides companies with a complete record of a customer’s journey, meaning faster resolution times and happier customers, turning these positive interactions into marketing gold – positive word-of-mouth.

“Over the past decade, the acquisition funnel has been considered the most effective model for growth. But as people have become more skeptical of sales and marketing, the funnel has become less effective,” said JD Sherman, president and COO of HubSpot. “Your biggest untapped growth opportunity today is in fact your existing customers. With Service Hub, we’re giving businesses the tools they need to tap into that opportunity. Support products on the market today treat customers as a cost center, focusing on cost reduction. We’re building a system for companies that view service as a growth opportunity.”

When combined with Marketing Hub and Sales Hub, Service Hub integrates customer data with lead and deal data in a way that similar products on the market don’t. This gives marketing, service, and sales teams access to a complete record of a customer’s interactions with the company, allowing them to collaborate together to resolve customer issues better and faster.

The individual products that make up Service Hub are designed with the impatient, convenience-focused customer in mind. Customers can get fast help via their preferred channel, and service teams are armed with the technology needed to efficiently manage it all:

  1. Conversations – A universal inbox that unites messages across chat, email, and other channels to help team collaborate and enable customers to engage with companies however they want.
  2. Tickets – A CRM object to track, record, and organize customer needs.
  3. Automation – Platform-level automation that uses workflows to route Tickets and create a help desk.
  4. Knowledge Base – A tool that helps you create simple well-structured help articles from templates that automatically index on Google search and a reporting dashboard.
  5. Customer Feedback – A tool featuring guided survey creation, feedback collection, and audience insights analytics.
  6. Reporting – A new service dashboard featuring reports on how your team is handling tickets, how customers are sharing feedback, and the efficacy of your Knowledge Base.

“Some clients say that they don’t have the budget for more customer service, but that mindset needs to change. When you add value for customers, you simultaneously grow your own business,” said Steven Loepfe, founder and managing partner of Storylead, a beta user of Service Hub and HubSpot Gold Tier Partner. “As an agency, the majority of our revenue comes from returning customers and their referrals. Service Hub is exactly what we’ve been looking for. Our clients already use HubSpot, so this will be a natural step for them. It’s a huge opportunity, for us and for them.”

To learn more about Service Hub, please visit https://www.hubspot.com/products/service.

About HubSpot
HubSpot (NYSE: HUBS) is a leading CRM, marketing, sales, and customer service platform. Since 2006, HubSpot has been on a mission to make the world more inbound. Today, over 41,500 total customers in more than 90 countries use HubSpot’s award-winning software, services, and support to transform the way they attract, engage, and delight customers. Comprised of Marketing Hub, Sales Hub, Service Hub, and a powerful free CRM, HubSpot gives companies the tools they need to manage the customer experience from awareness to advocacy.

HubSpot has been named a top place to work by Glassdoor, Fortune, The Boston Globe, and The Boston Business Journal. The company is headquartered in Cambridge, MA with offices in Dublin, Ireland (EMEA HQ); Singapore (APAC HQ); Sydney, Australia; Tokyo, Japan; Berlin, Germany; and Portsmouth, NH.

Learn more at www.hubspot.com.

Logo – https://mma.prnewswire.com/media/561869/HubSpot_Logo.jpg

Neurotechnology identifie plus de 5 millions de doublons dans l’énorme déduplication électorale en République démocratique du Congo

MegaMatcher ABIS a fourni la déduplication simultanée de plus de 46,5 millions de fichiers multibiométriques des électeurs en moins de deux mois pour préparer les élections de 2018 de la République démocratique du Congo.

VILNIUS, Lituanie, 24 avril 2018 /PRNewswire/ — Neurotechnology, un fournisseur de services de technologies d’identification biométrique de haute précision, a annoncé aujourd’hui l’achèvement d’un énorme projet de déduplication de fichiers multibiométriques des électeurs pour la République démocratique du Congo (RDC). Travaillant directement avec la Commission électorale nationale indépendante (ou CENI) en RDC, Neurotechnology a utilisé son système d’identification biométrique automatisé MegaMatcher (ABIS) basé sur son moteur MegaMatcher Accelerator Extreme (MMA Extreme) pour exécuter la déduplication simultanée de plus de 46,5 millions de fichiers multibiométriques des électeurs facials et d’empreintes – une comparaison de tous les fichiers d’une ampleur de 46,5 millions par 46,5 millions de fichiers. Le système a accompli le travail en moins de deux mois, en utilisant seulement 11 serveurs pour la comparaison et l’identification de plus de 5,3 millions de doublons – plus de 10 % de la base de données des électeurs d’origine.

« Dans le processus de nettoyage du registre des électeurs, notre but est de trouver autant de doublons et d’autres cas non conformes que possible, a déclaré M. Corneille Yobeluo Nangaa, président de la Commission Électorale Nationale Indépendante. Neurotechnology nous a aidés à atteindre nos objectifs et a dépassé nos attentes en commençant et terminant le processus de déduplication en un temps record, et ils ont été en mesure de trouver des millions de doublons. »

Pour la République démocratique du Congo, plus de 46,5 millions de fichiers d’électeurs ont été recueillis avec 10 empreintes et une biométrique faciale pour chaque fichier. MegaMatcher ABIS a trouvé plus de 5,3 millions de fichiers en double. L’algorithme de l’estimation de l’âge de Neurotechnology a été utilisé pour vérifier la photo et estimer l’âge de chaque électeur inscrit ainsi que pour signaler les éventuels fichiers non conformes qui doivent être vérifiés. Au cours de ce processus, plus de 900 000 fichiers non conformes ont été trouvés selon les exigences applicables à l’âge des électeurs. Cela aura un impact significatif sur les élections à venir où les électeurs de la RDC sont représentés dans les assemblées nationales et provinciales selon leur nombre d’électeurs. L’exactitude du processus a été vérifiée par près de 300 opérateurs humains qui ont examiné et confirmé manuellement les doublons et fichiers de personnes mineures identifiés par le système.

« Créer, déployer et utiliser des systèmes d’identification biométrique automatisés à petite échelle est relativement facile; la complexité et les principaux défis apparaissent avec l’échelle, a déclaré Denis Kacan, responsable produit de MegaMatcher ABIS chez Neurotechnology. Avec la réussite de la mise en œuvre de ce projet, nos produits MegaMatcher ABIS et MegaMatcher Accelerator Extreme conviennent aux projets de grande envergure. »

MMA Extreme est le système de comparaison biométrique le plus rapide sur le marché, avec les moteurs de comparaison extrêmement rapides pour les empreintes biométriques digitales, de l’iris et du visage qui peuvent être utilisés ensemble ou séparément dans toute configuration avec les bases de données de centaines de millions de personnes inscrites. Chaque unité de MMA Extreme (matériel et logiciel) peut correspondre à 1,2 milliard d’empreintes digitales par seconde, 1,2 milliard de visages par seconde ou 700 millions d’iris par seconde sur un serveur unique avec une unité de traitement graphique, et plusieurs unités peuvent être utilisées ensemble.

Alors que certains systèmes biométriques tentent de simplifier le traitement et d’améliorer la vitesse en fractionnant la déduplication par région ou en divisant les gens en groupes (p. ex. selon l’âge ou le sexe), cette réduction de la complexité peut également réduire la précision. Ainsi, pour assurer la précision la plus élevée possible, le système MMA Extreme compare chacun des 46,5 millions et plus de fichiers multibiométriques avec tous les autres fichiers. Un projet d’une telle ampleur a nécessité un moteur extrêmement rapide et puissant et a été rendu possible uniquement grâce à MMA Extreme.

MegaMatcher ABIS est la solution multibiométrique clé en main de Neurotechnology pour les projets d’identification à grande échelle. Il s’agit d’une solution modulaire et personnalisable conçue pour des systèmes multibiométriques de haute performance qui utilisent toute combinaison de modalités biométriques comme les empreintes digitales, le visage, l’iris et l’œil. Il est disponible sous la forme d’un système complet et prêt pour une utilisation dans des projets d’envergure nationale.

MegaMatcher ABIS, MegaMatcher Accelerator Extreme et l’ensemble de la gamme de produits biométriques de Neurotechnology peut être achetée à Neurotechnology et par l’intermédiaire de distributeurs dans le monde entier. Un essai gratuit de 30 jours est disponible et, comme avec tous les produits de Neurotechnology, la dernière version est une mise à niveau gratuite pour les clients existants. Pour en savoir plus, visitez le site Web www.neurotechnology.com.

Neurotechnology exposeront à ID4Africa 2018, du 24 au 26 avril à Abuja, Nigeria. Retrouvez-nous au stand C12.

À propos de Neurotechnology

Neurotechnology est un développeur d’algorithmes de haute précision et de logiciels basés sur le réseau neuronal profond et sur d’autres technologies liées à l’intelligence artificielle. L’entreprise offre une gamme de produits pour l’identification biométrique d’empreintes digitales et palmaires, du visage, de l’iris et de la voix ainsi que l’IA, la vision par ordinateur, la reconnaissance d’objets et la robotique. En s’appuyant sur ses nombreuses années de recherches universitaires dans le domaine de la neuro-informatique, du traitement de l’image et de la reconnaissance des formes, Neurotechnology a été fondée en 1990 à Vilnius, en Lituanie, et a créé son premier système d’identification d’empreintes digitales en 1991. Depuis ce temps, l’entreprise a lancé plus de 130 produits et mises à niveau de versions. Plus de 3000 intégrateurs de système, entreprises de sécurité et fournisseurs de matériel intègrent les algorithmes de Neurotechnology dans leurs produits, avec des millions d’installations clientes dans le monde entier. Les algorithmes de Neurotechnology ont obtenu d’excellents résultats lors d’évaluations de technologie indépendante, y compris NIST MINEX et IREX.

Contact pour les médias

Jennifer Allen Newton
Bluehouse Consulting Group, Inc.
+1-503-805-7540
jennifer@bluehousecg.com

Newater Technology, Inc. Announces Half Year 2017 Unaudited Financial Results

YANTAI, CHINA / ACCESSWIRE / December 28, 2017 / Newater Technology, Inc. (NASDAQ: NEWA) (“NEWA”, “we”, “our” or the “Company”), a developer and manufacturer of membrane filtration products and related hardware and engineered systems that are used in the treatment, recycling and discharge of wastewater, today announced its unaudited financial results for the half-year ended June 30, 2017.

Six Months Ended June 30, 2017 Financial Highlights (all comparisons to the six months ended June 30, 2016 unless noted)

  • Revenues increased by 50.61% from $4.78 million to $7.20 million, which resulted from: 1) growing demand for the Company’s products; and 2) an increase in both the number of customers and larger scale of projects.
  • Cost of goods sold increased by 84.14% from $2.87 million to $5.28 million due to 1) the 50.61% revenue growth; 2) new large complex projects which required more highly skilled engineers for installations and more time to complete projects.
  • Gross profit increased by 0.36% to $1.92 million compared to $1.91 million for the same period in 2016, while the gross profit margin was 26.67%, compared to 40.02% for the same period in 2016.
  • Operation costs increased by 30.68% from $1.37 million to $1.78 million, however, the percentage of operating costs compared to revenue decreased from 28.54% to 24.76%.
  • Operating income decreased from $0.55 million to $0.14 million.

“We are pleased with the progress we made in the first half of this year towards meeting our operational goals for 2017,” commented Mr. Yuebiao Li, the Company’s Chairman and Chief Executive Officer, “With the proceeds from our IPO, we are building an automatic DTRO (Disk Tube Reverse Osmosis) production line, which is scheduled be completed in 2018. Upon completion, we believe we will be at the forefront for DTRO automatic production lines in China, enabling us to be a leader of DTRO manufacturing in China.”

“We remain committed to innovation, research and development such as our new delivery method, which we implemented in 2017, of packing membrane filtration equipment in mobile containers resulting in benefits for our clients, including easy transportation and better protection of equipment as well as the improvement of equipment mobility, which we believe strengthens our competitive advantages.”

Operating Results for Six Months Ended June 30, 2017

Revenues

We derive our revenues from product sales, such as sales of water purifying membranes and water purification equipment, and project sales (water purification installation projects). Revenues consist of the invoiced value for the sales, net of value-added tax (“VAT”), business tax, applicable local government levies, rebates, discounts and returns.

For the six months ended June 30, 2017, revenues increased by $2.42 million, or 50.61%, to $7.20 million from $4.78 million for the same period last year. This increase was mainly driven by the increase in both the number and size of the project and product sales.

Of the total ongoing projects as of June 30, 2017, three of them had sales over $0.73 million (RMB 5 million) compared to two as of June 30, 2016. We signed eight sales contracts with each contract over $0.73 million (RMB 5 million) for the six months ended June 30, 2017, versus five sales contracts with a value greater than $0.73 million (RMB 5 million) for the same period in 2016. Furthermore, the time to complete the installation of projects has increased from one to three months to six months due to the fact that the newer projects are larger and more complex.

Our project revenue recognition method is completed contract method. Revenue is only recognized after the project is completed and the contract is fulfilled. We had four ongoing projects with a total estimated gross revenue of $3.02 million and gross profit of $1.51 million as of June 30, 2017.

Cost of revenues

Cost of revenues consists primarily of direct raw materials, direct payroll of workshop staff, utility and supply costs consumed in the manufacturing process, manufacturing labor, depreciation expense and overhead expenses necessary to manufacture finished goods as well as distribution costs such as inbound freight charges.

Cost of revenues increased by $2.41million, or 84.14%, to $5.28 million for the six months ended June 30, 2017 from $2.87 million for the same period last year. As a percentage of revenues, cost of revenues was 73.33% for the six months ended June 30, 2017, compared to 59.98% for the same period last year. The increase in cost of revenues is directly linked to the 50.61% revenue growth, more highly skilled labors required for the installation and longer project delivery time for new large complex projects.

Gross profit and gross margin

Gross profit increased slightly by $0.01 million, or 0.36%, to $1.92 million for the six months ended June 30, 2017 from $1.91 million for the same period last year. However, gross margin decreased by 13.35 percentage points to 26.67% for the six months ended June 30, 2017 from 40.02% for the same period last year.

The decrease in gross margin was primarily due to the fact that more complex large projects were engaged for the six months ended June 30, 2017, which resulted in engaging more experts and requiring more time in equipment installation on-site.

Selling, general and administrative expenses

Selling, general and administrative expenses (“SG&A”) increased by $0.41 million, or 30.68%, to $1.78 million for the six months ended June 30, 2017 from $1.37 million for the same period last year.

Research and development expenses account for 66% of the increase in SG&A expenses, while the salary’s increase, including the bonus payment for the calendar year 2016 and the increase in the number of the new hires, accounts for the remaining increase in SG&A expenses.

Operating income and operating margin

Income from operations decreased by $0.41 million, or 74.95%, to $0.14 million for the six months ended June 30, 2017 from $0.55 million for the same period last year. Operating margin was 1.91% for the six months ended June 30, 2017, compared to 11.49% for the same period last year.

The decrease in operating income and operating margin mainly resulted from the higher cost of goods sold, which led to a decrease in gross margin.

Income Taxes

Provision for income taxes was $0.10 million for the six months ended June 30, 2017, a decrease of $0.06 million, or 37.23%, from $0.16 million for the same period of last year. We were entitled to a preferential enterprise income tax (“EIT”) rate of 15% in 2016 and 2017. The standard enterprise income tax rate in China is 25%.

Net Income

Net income was $0.02 million for the six months ended June 30, 2017, compared to 0.31 million for the same period last year. Earnings per basic and diluted share was $0.00, and $0.04 for the six months ended June 30, 2017, and June 30, 2016 respectively.

Financial Conditions

As of June 30, 2017, the Company had cash of $1.58 million, compared to $1.48 million at December 31, 2016. Total working capital was $7.47 million as of June 30, 2017, compared to $7.41 million at the end of 2016.

Net cash provided by operating activities was $1.18 million for the six months ended June 30, 2017, compared to net cash used of $2.79 million for the same period last year. Net cash used in investing activities was $0.32 million for the six months ended June 30, 2017, compared to net cash provided of $0.83 million for the same period last year. Net cash used in financing activities was $0.80 million for the six months ended June 30, 2017, compared to net cash provided of $2.33 million for the same period of last year.

About Newater Technology, Inc.

Founded in 2012 and headquartered in Yantai, China, Newater specializes in the development, manufacture and sale of DTRO (Disk Tube Reverse Osmosis) and DTNF (Disk Tube Nano-Filtration) membranes for waste water treatment, recycling and discharge. Newater provides integrated technical solutions in engineering support and installation, technical advice and services, and other project-related solutions to turn wastewater into valuable clean water.

The Company’s products can be used across a wide spectrum of industries, including:

– Leachate from landfills
– Wastewater from oil fields
– High acid wastewater
– Power plant waste water
– Wastewater from gas production
– Desalination

More information about the Company can be found at: www.newater.cc.

Notice

Rounding amounts and percentages: Certain amounts and percentages included in this press release have been rounded for ease of presentation. Percentage figures included in this press release have not in all cases been calculated on the basis of such rounded figures, but on the basis of such amounts prior to rounding. For this reason, certain percentage amounts in this press release may vary from those obtained by performing the same calculations using the figures in the financial statements. In addition, certain other amounts that appear in this press release may not sum due to rounding.

Forward-Looking Statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may”, “will”, “intend”, “should”, “believe”, “expect”, “anticipate”, “project”, “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Specifically, the Company’s statements regarding its continued growth, business outlook, and automatic production line are forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s goals and strategies; the Company’s future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the water filtration industry in China; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For more information, please contact:

Company

Zhuo Zhang CFO
NEWATER TECHNOLOGY INC.
Phone: +86 (535) 626-4177
Email: zhuozhang@newater.cc

Investor Relations

Y. Tracy Tang CFA, CPA
SINO-AMERICAN INVESTOR ADVISORY
Phone: +1 (646) 485-1040
Email: Tracy.tang@sino-UsInvestors.com

 

NEWATER TECHNOLOGY, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS

 

 

June 30,
December 31,
2017
2016
(Unaudited)
ASSETS
Current assets
Cash and cash equivalents
$ 1,577,394 $ 1,484,762
Restricted cash
551,875 1,439,926
Accounts receivable, net
1,927,426 2,637,236
Accounts receivable from related party, net
1,060,977
Notes receivable
68,108
Inventories
10,407,051 4,840,234
Advances to suppliers and other current assets, net
1,918,015 2,528,411
Due from third party
1,254,261
Due from related parties
3,563
Total current assets
17,636,022 14,063,217
Property, plant and equipment, net
1,244,904 1,199,611
Land use right, net
2,169,638 2,143,002
Deferred tax assets
327,929 181,003
Other non-current assets
20,904 4,591
Total assets
$ 21,399,397 $ 17,591,424
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable and bank acceptance notes to vendors
$ 3,774,736 $ 1,844,077
Short term loans
2,877,422 2,879,853
Due to related parties
714,999
Deferred income
26,561 25,919
Advances from customers
3,214,761 833,742
Income tax payables
349,860 329,212
Other current liabilities
255,052 210,400
Total current liabilities
10,498,392 6,838,202
Total liabilities
10,498,392 6,838,202
Shareholders’ equity
Common shares ($0.001 par value, 200,000,000 shares authorized, 9,199,000 shares issued and outstanding as of June 30, 2017 and December 31, 2016)
9,199 9,199
Additional paid-in capital
7,949,466 7,949,466
Statutory reserves
405,070 382,802
Retained earnings
2,954,448 2,960,698
Accumulated other comprehensive loss
(417,178 ) (548,943 )
Total shareholders’ equity
10,901,005 10,753,222
Total liabilities and shareholders’ equity
$ 21,399,397 $ 17,591,424

 

NEWATER TECHNOLOGY, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
(Unaudited)

 

For The Six Months Ended June 30,
2017
2016
Net revenues
$ 7,204,431 $ 4,766,239
Net revenues from related parties
17,237
Total revenues
7,204,431 4,783,476
Cost of revenues
5,282,936 2,853,076
Cost of revenues from related parties
15,877
Total cost of revenues
5,282,936 2,868,953
Gross profit
1,921,495 1,914,523
Operating expenses:
Selling, general and administrative
1,783,836 1,365,091
Total operating expenses
1,783,836 1,365,091
Income from operations
137,659 549,432
Interest expense
80,512 94,621
Other income
(61,320 ) (19,560 )
Total other expense
19,192 75,061
Income before income taxes provisions
118,467 474,371
Income tax provisions
102,449 163,222
Net income
16,018 311,149
Other comprehensive income (loss)
Foreign currency translation adjustment
131,765 (98,036 )
Total comprehensive income
$ 147,783 $ 213,113
Earnings per common share
Basic
$ 0.00 $ 0.04
Diluted
$ 0.00 $ 0.04
Weighted average common shares outstanding
Basic
8,767,738 8,333,200
Diluted
8,767,738 8,333,200
NEWATER TECHNOLOGY, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
For The Six Months Ended June 30,
2017
2016
Cash flows from operating activities
Net income
$ 16,018 $ 311,149
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization expense
93,854 64,820
Deferred income taxes
(140,423 )
Changes in operating assets and liabilities:
Accounts receivable, net
764,167 (3,505,445 )
Accounts receivable from related parties, net
1,071,858 3,054,075
Notes receivable
68,806 (53,554 )
Inventories
(5,369,723 ) (1,343,912 )
Advances to suppliers and other current assets
439,396 (593,992 )
Advances to supplier – related party
(728,724 )
Due from related parties
691 1,826
Other non-current assets
(15,969 )
Accounts payable and bank acceptance notes to vendors
1,847,198 1,857,382
Accounts payable to related party
(1,105,024 )
Other current liabilities
58,437 (274,888 )
Advances from customers
2,326,919 266,395
Deferred income
(395,774 )
Due to related parties
(1,095 ) 6,358
Income tax payables
12,314 (355,690 )
Cash provided by (used in) operating activities
1,172,448 (2,794,998 )
Cash flows from investing activities
Purchases of property and equipment
(88,500 )
Cash advanced to related party
(252,636 )
Repayments from related parties
2,909 570,311
Net change in restricted cash
910,638 596,394
Cash advanced to others
(1,236,490 )
Cash provided by (used in) investing activities
(322,943 ) 825,569
Cash flows from financing activities
Proceeds from issuances of common shares
5,323,026
Capital contribution from shareholders
198,917
Capital distribution in connection with acquisition of a subsidiary
(4,418,425 )
Borrowings from related parties
3,238,142
Repayment to related parties
(721,237 ) (3,405,928 )
Borrowings from third parties
1,672,898 3,847,000
Repayment to third parties
(1,745,632 ) (2,448,205 )
Cash provided by (used in) financing activities
(793,971 ) 2,334,527
Effect of foreign exchange rate changes on cash and cash equivalents
37,098 50,141
Net increase in cash and cash equivalents
92,632 415,239
Cash and cash equivalents, beginning of the period
1,484,762 135,152
Cash and cash equivalents, end of the period
$ 1,577,394 $ 550,391
Supplemental cash flow information
Cash paid for interest
$ 80,695 $ 21,993
Cash paid for income taxes
$ 230,558 $ 517,118
Non-cash investing and financing activities:
Stock issued for debt conversion
$ $ 3,847,000

SOURCE: Newater Technology, Inc.