Market Newsdesk

November 19, 2020 5:20 am

PetroRio Announces the Acquisition of Interest in the Wahoo and Itaipu Fields

PetroRio Announces the Acquisition of Interest in the Wahoo and Itaipu Fields

RIO DE JANEIRO–(BUSINESS WIRE)–
Petro Rio S.A. (the “Company” or “PetroRio”) (B3: PRIO3), following best corporate governance practices, informs its shareholders and the market in general the signing of an agreement with BP Energy do Brasil Ltda. for the acquisition of interests of 35.7% in the BM-C-30 Block (“Wahoo” or “Wahoo Field”) and 60% in the BM-C-32 Block (“Itaipu” or “Itaipu Field”), thus, subject to the necessary approvals, becoming the operator of both pre-salt fields.

Wahoo, with production potential of over 140 million barrels (100% of Wahoo), had oil discoveries in 2008 and carried out formation tests in 2010, and fits precisely in the Company’s value generation strategy. The Wahoo development will allow the Company to create another production cluster, which will share all infrastructure with Frade Field (including the FPSO), enabling the capture of synergies, resulting in significant and sustainable lifting cost reduction, while maintaining high levels of safety and efficiency.

Click here to access the document.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201119005588/en/

Jose Gustavo Costa

[email protected]

KEYWORDS: Ireland United Kingdom Europe Brazil South America

INDUSTRY KEYWORDS: Energy Professional Services Oil/Gas Finance

MEDIA:

November 19, 2020 5:03 am

111, Inc. Announces Third Quarter 2020 Unaudited Financial Results

PR Newswire

SHANGHAI, Nov. 19, 2020 /PRNewswire/ — 111, Inc. (“111” or the “Company”) (NASDAQ: YI), a leading digital healthcare platform committed to digitally connecting patients with medicine and healthcare services in China, today announced its unaudited financial results for the third quarter ended September 30, 2020.

Third Quarter 2020 Highlights

Net revenues were RMB2.36 billion (US$348.0 million), representing an increase of 112.8% year-over-year.
Operating expenses
^[1] were RMB212.1 million (US$31.2 million), representing an increase of 28.2% year-over-year. Operating expenses accounted for 9.0% of net revenue this quarter as compared to 14.9% in the same quarter of last year.
Number of pharmacies served increased to more than 300,000 (representing 57% of the total numbers of pharmacies in China) as of September 30, 2020, compared to more than 210,000 pharmacies as of September 30, 2019.
B2B net r
evenue increased to RMB2.2 billion (US$324.3 million) this quarter as compared to RMB1.45 billion in Q2 2020. Revenue from existing customers^[2] were up 38.9% quarter-over-quarter and newly added customers contributed 12.5% of the growth quarter-over-quarter.
Cash and cash equivalents, restricted cash and short-term investments amounted to RMB1,213.1 million (US$178.7 million) as of September 30, 2020, achieving positive cash flow from operating activities, which amounted to RMB25 million for the quarter.

^{[1] Operating expense consists of fulfillment expenses, selling and marketing expenses, general and administrative expenses, technology expenses and other operating expenses.}

^[2]

^{We define existing customers}

^{as the customers}

^{who have placed orders from 111 prior to third quarter 2020}

“In Q3 2020, we exceeded the top end of our guidance and continued the strong momentum built since the IPO. In the 8^th consecutive quarter of revenue growth, we delivered net revenue of RMB2.36 billion, an increase of 113% year-over-year. Gross profit rose 90% year-over-year to RMB90 million. Non-GAAP net loss attributable to ordinary share^[3] as a percentage of net revenue continued to narrow, from approximately 10% in Q3 2019 to 4% this quarter, showing a trajectory towards profitability,” said Mr. Junling Liu, Co-Founder, Chairman, and Chief Executive Officer of 111.

“The robust performance is a strong validation of the successful execution of our multifaceted growth strategy to deliver the mission of digitally connecting patients with medicine and healthcare services. We have made solid progress in strengthening our digital capabilities. Our cloud-based solutions in the areas of patient management, doctor-patient interaction, education for doctors, patients and pharmacists, and other related services received excellent response from our customers. Our smart supply-chain management is making our operation more and more efficient. The omni-channel drug commercialization platform is laying a strong foundation for our future growth in one of China’s fastest growing industries.”

“Over the last few quarters, we made significant progress in strengthening the infrastructure of our digital healthcare platform that brings together key stakeholders in the healthcare ecosystem – retail pharmacies, online platform partners, doctors, insurance companies and pharmaceutical companies to the benefit of all.” He continued, “For our retail pharmacy customers, part of our 300,000+ strong network representing 57% of China’s total number of pharmacies and the largest in China, our smart sourcing system, machine-learning and cloud-based solutions translate into effective sourcing, better inventory management, optimal product assortment, and broader market reach, resulting in greater cost efficiency, higher earning potential and an enhanced ability to serve our end consumers. For doctors, our smart technology puts the power of the latest medical innovations in their hands to achieve better health outcomes for their patients. For patients, our holistic disease management platform gives them access to the best doctors across the country, follow-up consultations, disease education materials, medication guides, and the benefits of obtaining medications at home through our e-prescription service.”

“The most significant progress is in establishing 111 as partner of choice for pharmaceutical companies with our omni-channel drug commercialization capability.” Commenting on the partnership with pharmaceutical companies, he said, “With our broad consumer reach, vast virtual pharmacy network, and smart technology-enabled omni-channel commercialization platform, we have been helping them to gain additional commercialization channels, expand reach, optimize their sales and marketing functions, enhance patient services and support programs, resulting in greater commercial success for new and existing products. In the quarter, we have expanded the number of partnerships to over 300, up 101% over the same period last year. New partners include major multinational and domestic pharmaceutical companies, such as Bayer Healthcare, Huluwa Pharmaceutical, Xiangxue Pharmaceutical and Baiyunshan Pharmaceutical.”

“We’ve also broadened our partnership with insurance companies to further enhance the digital healthcare value chain. In the quarter, we added another insurance partner, Shanghai Uniondrug. This partnership will give us the power to offer to consumers better access to healthcare and pharmaceutical products at lower prices. In addition, consumers will also gain tools and supporting services that are personalized to their needs and that emphasize preventive, rather than curative care.”

“As China successfully keeps the COVID-19 pandemic in check and its economy resumes growth, we are confident about the Company’s ability to take advantage of the immense opportunities that ensue. With our market-leading digital healthcare platform, we have built a healthcare ecosystem where all key stakeholders – drug manufacturers, retailers, insurance companies and end consumers are in a virtuous circle of value creation.”

“Looking toward the last quarter, we’ll continue to leverage this ecosystem and enhance its value as we work to increase sales from our existing base of retail pharmacies while gaining new ones, enhance ‘stickiness’ of our customers, and expand and deepen strategic partnerships. We’ll focus on narrowing net loss, drive growth, and continue the ascent to delivering sustainable and long-term profitability to our shareholders,” he concluded.

^{[3] Non-GAAP net loss attributable to ordinary shareholders represents net loss attributable to ordinary shareholders excluding share-based compensation expenses and impairment loss of long-term investment.}

Share Repurchase Program

On August 14, 2019, the Company’s Board of Directors approved a share repurchase program of up to US$10 million, as a vote of confidence in the Company’s prospects. As of September 30, 2020, the Company had repurchased 998,810 ADSs for a total consideration of US$4.9 million. No new repurchase happened in the third quarter.

Third Quarter 2020 Financial Results

Net revenues were RMB2.36 billion (US$348.0 million), representing an increase of 112.8% from RMB1.11 billion in the same quarter of last year.

As of September 30, 2020, the Group has two reporting segments that includes B2B segment and B2C segment. Revenue contribution from E-Channel was previously disclosed as a separate segment, but was incorporated in B2B segment in this quarter. The Company revised prior comparative periods to conform to the current period segment presentation as follows:

(In thousands RMB)		For the three months ended September 30,

	2019		2020	YoY
B2B Net Revenue
Product	939,434		2,197,915	134.0%
Service	1,128		3,710	228.9%

Sub-Total	940,562		2,201,625	134.1%

Cost of Products Sold^[4]	927,564		2,143,845	131.1%

Segment Profit	12,998		57,780	344.5%
Segment Profit %	1.4%		2.6%

(In thousands RMB)		For the three months ended September 30,
	2019		2020	YoY
B2C Net Revenue
Product	164,348		152,939	(6.9%)
Service	5,541		8,159	47.2%

Sub-Total	169,889		161,098	(5.2%)

Cost of Products Sold^[4]	135,558		128,943	(4.9%)

Segment Profit	34,331		32,155	(6.3%)
Segment Profit %	20.2%		20.0%

^[4]
^{For segment reporting purposes, purchase rebate is allocated to B2B segment and B2C segment primarily based on the amount of cost of products sold for each segment. Cost of products sold does not include other direct costs related to cost of product sales such as shipping and handling expense, payroll and benefits of logistic staff, logistic centers rental expenses and depreciation expenses, which are recorded in the fulfillment expenses.}

Operating costs and expenses were RMB2.48 billion (US$366.0 million), representing an increase of 102.3% from RMB1.23 billion in the same quarter of last year.

Cost of products sold was RMB2.27 billion (US$334.7 million), representing an increase of 113.8% from RMB1.06 billion in the same quarter of last year. The increase was primarily due to our rapid revenue growth in B2B business, which increased by 134.1% as compared to the same quarter last year.
Fulfillment expenses were RMB58.2 million (US$8.6 million), representing an increase of 83.8% from RMB31.6 million in the same quarter of last year. Fulfillment expenses accounted for 2.5% of net revenues this quarter as compared to 2.8% in the same quarter of last year.
Selling and marketing expenses were RMB104.3 million (US$15.4 million), representing an increase of 19.7% from RMB87.1 million in the same quarter of last year, mainly due to increase in the number of sales staffs and expenses associated with the expansion of the B2B business. As a percentage of net revenues, selling and marketing expense further reduced to 4.4% in the quarter from 7.8% in the same quarter of last year.
General and administrative expenses were RMB28.5 million (US$4.2 million), representing a drop of 10.8% from RMB32.0 million in the same quarter of last year. As a percentage of net revenues, general and administrative expense reduced to 1.2% in the quarter from 2.9% in the same quarter of last year.
Technology expenses were RMB22.0 million (US$3.2 million), representing an increase of 49.4% from RMB14.7 million in the same quarter of last year, mainly due to our increased investment in technology. Technology expenses accounted for 0.9% of net revenues this quarter as compared to 1.3% in the same quarter of last year.

Loss from operations was RMB122.2 million (US$18.0 million), compared to RMB118.1 million in the same quarter of last year. As a percentage of net revenues, loss from operations further decreased to 5.2% in the quarter from 10.6% in same quarter of last year.

Non-GAAP loss from operations
^[5] was RMB108.0 million (US$15.9 million), compared to RMB104.5 million in the same quarter of last year. As a percentage of net revenues, non-GAAP loss from operations decreased to 4.6% in the quarter from 9.4% in same quarter of last year.

Net loss attributable to ordinary shareholders was RMB108.6 million (US$16.0 million), compared to RMB123.3 million in the same quarter of last year. As a percentage of net revenues, net loss attributable to ordinary shareholders decreased to 4.6% in the quarter from 11.1% in same quarter of last year.

Non-GAAP net loss attributable to ordinary shareholders was RMB94.4 million (US$13.9 million), compared to RMB109.7 million in the same quarter of last year. As a percentage of net revenues, non-GAAP net loss attributable to ordinary shareholders decreased to 4.0% in the quarter from 9.9% in same quarter of last year.

Loss per ADS was RMB1.32 (US$0.20), compared to RMB1.50 for the same quarter of last year.

Non-GAAP loss per ADS
^[
⁶
^] was RMB1.15 (US$0.17), compared to RMB1.34 for the same quarter of last year.

As of September 30, 2020, the Company had cash and cash equivalents, restricted cash and short-term investments of RMB 1,213.1 million (US$178.7 million), compared to RMB697.7 million as of December 31, 2019.

^[5]
^{Non-GAAP loss from operations represents loss from operations excluding share-based compensation expenses.}

^[6]
^{Non-GAAP loss per ADS represents loss per ADS excluding share-based compensation expenses and impairment loss of long-term investment per ADS.}

Business Outlook

For the fourth quarter of 2020, the Company expects its total net revenues to be between RMB2.44 billion and RMB2.56 billion, representing a year-over-year growth of approximately 81% to 90%.

The above outlook is based on the current market conditions and reflects the Company’s current and preliminary estimates of market and operating conditions and customer demand, which are all subject to changes.

Conference Call

111’s management team will host an earnings conference call at 7:30 AM U.S. Eastern Time on Thursday, November 19, 2020 (8:30 PM Beijing Time on November 19, 2020).

Details for the conference call are as follows:

Event Title: 111, Inc. Third Quarter 2020 Earnings Conference Call
Registration Link: http://apac.directeventreg.com/registration/event/1679252

All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registering, each participant will receive a set of participant dial-in numbers, the Direct Event passcode, and a unique Registration ID, which can be used to join the conference call.

Please dial in 15 minutes before the call is scheduled to begin and provide the Direct Event passcode and unique Registration ID you have received upon registering to join the call.

A telephone replay of the call will be available after the conclusion of the conference call until November 27, 2020, 7:59 P.M. ET on:

United States:                     +1-855-452-5696
International:                       +61-2-8199-0299
Conference ID:                    1679252

A live and archived webcast of the conference call will be available on the Investor Relations section of 111’s website at http://ir.111.com.cn/.

Use of Non-GAAP Financial Measures

In evaluating the business, the Company considers and uses non-GAAP loss from operations, non-GAAP net loss attributable to ordinary shareholders, and non-GAAP loss per ADS, non-GAAP measures, as supplemental measures to review and assess its operating performance. The Company defines non-GAAP loss from operations as loss from operations excluding share-based compensation expenses. The Company defines non-GAAP net loss attributable to ordinary shareholders as net loss attributable to ordinary shareholders excluding share-based compensation expenses and impairment loss of long-term investment. The Company defines non-GAAP loss per ADS as loss per ADS excluding share-based compensation expenses and impairment loss of long-term investment per ADS. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP.

The Company believes that non-GAAP loss from operations, non-GAAP net loss attributable to ordinary shareholders, and non-GAAP loss per ADS help identify underlying trends in its business that could otherwise be distorted by the effect of certain expenses that it includes in loss from operations and net loss. Share-based compensation expenses is a non-cash expense that varies from period to period. Impairment loss of long-term investment is a non-cash, non-recurring expense that occurred in the historical period. As a result, management excludes these two items from its internal operating forecasts and models. Management believes that the adjustments for share-based compensation expenses and impairment loss of long-term investment provide investors with a reasonable basis to measure the company’s core operating performance, in a more meaningful comparison with the performance of other companies. The Company believes that non-GAAP loss from operations, non-GAAP net loss attributable to ordinary shareholders, and non-GAAP loss per ADS provide useful information about its operating results, enhances the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by the management in their financial and operational decision-making.

The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using non-GAAP loss from operations, non-GAAP net loss attributable to ordinary shareholders, or non-GAAP loss per ADS is that it does not reflect all items of income and expense that affect the Company’s operations. Further, the non-GAAP financial measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

The Company compensates for these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP measures, all of which should be considered when evaluating the Company’s performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure.

Reconciliation of the non-GAAP financial measures to the most comparable U.S. GAAP measures is included at the end of this press release.

Exchange Rate Information Statement

This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.7896 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of September 30, 2020.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “target,” “confident” and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as 111’s strategic and operational plans, contain forward-looking statements. 111 may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements involve inherent risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to the Company’s ability comply with extensive and evolving regulatory requirements, its ability to compete effectively in the evolving PRC general health and wellness market, its ability to manage the growth of its business and expansion plans, its ability to achieve or maintain profitability in the future, its ability to control the risks associated with its pharmaceutical retail and wholesale businesses, and the Company’s ability to meet the standards necessary to maintain listing of its ADSs on the Nasdaq Global Market, including its ability to cure any non-compliance with Nasdaq’s continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and 111 does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

About 111, Inc.

111, Inc. (NASDAQ: YI) (“111” or the “Company”) is a leading digital healthcare platform committed to digitally connecting patients with medicine and healthcare services in China. The Company provides consumers with better access to pharmaceutical products and healthcare services directly through its online retail pharmacy, 1 Drugstore, and indirectly through its offline virtual pharmacy network. The Company also offers online healthcare services through its internet hospital, 1 Clinic, which provides consumers with cost-effective and convenient online consultation, electronic prescription service, and patient management service. In addition, the Company’s online wholesale pharmacy, 1 Drug Mall, serves as a one-stop shop for pharmacies to source a vast selection of pharmaceutical products. With the largest virtual pharmacy network in China, 111 enables offline pharmacies to better serve their customers with cloud-based services. 111 also provides an omni-channel drug commercialization platform to its strategic partners, which includes services such as digital marketing, patient education, data analytics, and pricing monitoring.

For more information on 111, please visit: http://ir.111.com.cn/.

For more information, please contact:

111, Inc.
Investor Relations
Email: [email protected]

111, Inc.
Media Relations
Email: [email protected]
Phone: +86-021-2053 6666 (China)

GCM Strategic Communications
IR Counsel
Email: [email protected]

111, Inc.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except for share and per share data)

	As of	As of
	December 31, 2019	September 30, 2020
	RMB	RMB	US$
ASSETS
Current Assets:
Cash and cash equivalents	581,281	1,030,771	151,816
Restricted cash	116,441	82,170	12,102
Short-term investments	–	100,159	14,752
Accounts receivable, net	65,247	140,113	20,636
Note Receivables, net	23,587	22,842	3,364
Inventories	486,271	922,919	135,931
Prepayments and other current assets	208,604	292,501	43,083
Total current assets	1,481,431	2,591,475	381,684
Property and equipment	29,836	29,034	4,276
Intangible assets	8,022	7,043	1,037
Long-term investments	140	140	21
Other non-current assets	3,009	4,687	690
Operating lease right-of-use asset	87,855	88,679	13,061
Total Assets	1,610,293	2,721,058	400,769

LIABILITIES AND EQUITY
Current liabilities including amounts of the consolidated VIE without recourse to the Company
Short-term borrowings	95,081	179,100	26,379
Accounts payable	444,334	1,302,637	191,858
Accrued expense and other current liabilities	234,008	287,425	42,332
Total Current liabilities	773,423	1,769,162	260,569
Operating lease liabilities	57,011	51,946	7,651
Other non-current liabilities	5,936	4,286	631
Total Liabilities	836,370	1,825,394	268,851

Mezzanine Equity
Redeemable non-controlling interests^[7]	–	417,194	61,446

Shareholders’ Equity
Ordinary shares Class A	30	30	4
Ordinary shares Class B	25	25	4
Treasury shares	(22,991)	(34,972)	(5,151)
Additional paid in capital	2,606,486	2,654,792	391,009
Accumulated deficit	(1,883,335)	(2,209,244)	(325,386)
Accumulated other comprehensive Income	76,441	71,763	10,570
Total shareholders’ equity	776,656	482,394	71,050
Non-controlling interest	(2,733)	(3,924)	(578)
Total equity	773,923	478,470	70,472
Total liabilities, mezzanine equity and equity	1,610,293	2,721,058	400,769

^{[7] In August 2020, the Company’s subsidiary, Yao Fang Information Technology (Shanghai) Co., Ltd (“Yao Fang Shanghai”) completed the private fund raising. Since the new investors have redeemable rights, the redeemable non-controlling interests are classified as Mezzanine Equity.}

	UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
	(In thousands, except for share, per share and per ADS data)

	For the three months ended September 30,			For the nine months ended September 30,
	2019	2020		2019	2020
	RMB	RMB	US$	RMB	RMB	US$
Net revenues	1,110,451	2,362,723	347,991	2,604,213	5,560,207	818,929
Operating costs and expenses:
Cost of product sold	(1,063,122)	(2,272,788)	(334,745)	(2,481,522)	(5,297,929)	(780,301)
Fulfillment expenses	(31,639)	(58,161)	(8,566)	(80,313)	(157,380)	(23,181)
Selling and marketing expenses	(87,131)	(104,252)	(15,355)	(237,631)	(281,202)	(41,417)
General and administrative expenses	(31,956)	(28,504)	(4,198)	(88,000)	(96,450)	(14,206)
Technology expenses	(14,695)	(21,953)	(3,233)	(42,024)	(61,394)	(9,042)
Other operating (expenses)/income, net	(3)	754	112	(164)	5,560	819
Total operating costs and expenses	(1,228,546)	(2,484,904)	(365,985)	(2,929,654)	(5,888,795)	(867,328)
Loss from operations	(118,095)	(122,181)	(17,994)	(325,441)	(328,588)	(48,399)
Interest income	1,117	2,684	395	4,477	4,093	603
Interest expense	(2,109)	(2,532)	(373)	(2,458)	(6,203)	(914)
Foreign exchange (loss)/gain	(9,301)	10,295	1,516	(15,311)	(671)	(99)
Other income/(expense), net	4,473	543	80	(4,781)	1,642	242
Loss before income taxes	(123,915)	(111,191)	(16,376)	(343,514)	(329,727)	(48,567)
Income tax expense	–	–	–	–	–	–
Net loss	(123,915)	(111,191)	(16,376)	(343,514)	(329,727)	(48,567)
Net loss attributable to non-controlling interest	616	2,627	387	1,499	3,818	562
Net loss attributable to ordinary shareholders	(123,299)	(108,564)	(15,989)	(342,015)	(325,909)	(48,005)
Other comprehensive loss
Unrealized gains of available-for-sale securities, net of tax	2,465	60	9	6,685	60	9
Realized gains of available-for-sale securities, net of tax	(511)	–	–	(1,109)	–	–
Foreign currency translation adjustments, net of tax	19,173	(18,486)	(2,713)	15,773	(4,738)	(698)
Comprehensive loss	(102,172)	(126,990)	(18,693)	(320,666)	(330,587)	(48,694)
Loss per share:
Basic and diluted	(0.75)	(0.66)	(0.10)	(2.09)	(1.98)	(0.29)
Loss per ADS:
Basic and diluted	(1.50)	(1.32)	(0.20)	(4.18)	(3.96)	(0.58)
Weighted average number of shares used in computation of loss per share
Basic and diluted	164,162,090	164,866,965	164,866,965	163,676,671	164,667,259	164,667,259

	111, Inc.
	UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
	(In thousands)

	For the three months ended September 30,			For the nine months ended September 30,
	2019	2020		2019	2020
	RMB	RMB	US$	RMB	RMB	US$
Net cash (used in)/provided by operating activities	(288,023)	25,217	3,714	(440,838)	39,306	5,789
Net cash provided by/(used in) in investing activities	186,857	(101,255)	(14,913)	127,858	(108,346)	(15,958)
Net cash provided by financing activities	57,645	466,050	68,642	99,935	496,745	73,163
Effect of exchange rate changes on cash and cash equivalents	22,033	(20,571)	(3,030)	16,038	(12,486)	(1,839)
Net (decrease)/increase in cash and cash equivalents	(21,488)	369,441	54,413	(197,007)	415,219	61,155
Cash and cash equivalents, and restricted cash at the beginning of the period	678,221	743,500	109,505	853,740	697,722	102,763
Cash and cash equivalents, and restricted cash at the end of the period	656,733	1,112,941	163,918	656,733	1,112,941	163,918

	111, Inc.
	Unaudited Reconciliation of GAAP and Non-GAAP Results
	(In thousands, except for share, per share and per ADS data)

	For the three months ended September 30,			For the nine months ended September 30,
	2019	2020		2019	2020
	RMB	RMB	US$	RMB	RMB	US$
Loss from operations	(118,095)	(122,181)	(17,994)	(325,441)	(328,588)	(48,399)
Add:Share-based compensation expenses	13,569	14,171	2,087	40,372	43,278	6,374
Non-GAAP loss from operations	(104,526)	(108,010)	(15,907)	(285,069)	(285,310)	(42,025)

Net Loss attributable to ordinary shareholders	(123,299)	(108,564)	(15,988)	(342,015)	(325,909)	(48,005)
Add:Share-based compensation expenses, net of tax	13,569	14,171	2,087	40,372	43,278	6,374
Impairment loss of long-term investment	–	–	–	11,000	–	–
Non-GAAP net Loss attributable to ordinary shareholders	(109,730)	(94,393)	(13,901)	(290,643)	(282,631)	(41,631)

Loss per ADS:
Basic and diluted	(1.50)	(1.32)	(0.20)	(4.18)	(3.96)	(0.58)
Add:Share-based compensation expenses and impairment loss of long- term investment per ADS, net of tax	0.16	0.17	0.03	0.63	0.53	0.08
Non-GAAP Loss per ADS	(1.34)	(1.15)	(0.17)	(3.55)	(3.43)	(0.50)

View original content:http://www.prnewswire.com/news-releases/111-inc-announces-third-quarter-2020-unaudited-financial-results-301176852.html

SOURCE 111, Inc.

November 19, 2020 5:03 am

Aurora Mobile Partners with Lilith Games to Drive User Growth and User Engagement for Hit Game “Rise of Kingdoms”

SHENZHEN, China, Nov. 19, 2020 (GLOBE NEWSWIRE) — Aurora Mobile Limited (NASDAQ: JG) (“Aurora Mobile” or the “Company”), a leading mobile developer service provider in China, today announced that it has entered into a partnership with Shanghai Lilith Technology Corporation (“Lilith Games”), a leading mobile games developer in China, to drive user growth and enhance user stickiness and engagement for its blockbuster mobile game Rise of Kingdoms.

The partnership will leverage Aurora Mobile’s industry-leading Artificial Intelligence (“AI”) and machine learning-driven push technical capabilities and years of expertise in data analytics, help Lilith Games gain comprehensive insights into user needs, and provide Lilith Games with push services that increase user engagement and retention, and achieve intelligent and tailored notifications. This cooperation demonstrates the industry-wide acclaim and trust that Aurora Mobile commands for the robust technical capabilities and services it offers to leading game publishing platforms.

Established in May 2013, Lilith Games is committed to providing gamers worldwide with unprecedented gaming experiences. Dedicated to making high-quality games, Lilith Games has developed or published a list of bestsellers, including Soul Hunters, Art of Conquest, Abi, Isoland 2: Ashes of Time, AFK Arena, and Mr. Pumpkin 2. Lilith Games distinguishes itself with its core strategy based on globalization and category upgrades. By leveraging its in-depth understanding of the global games market and game categories, it has unveiled one hit Chinese game after another to players around the world. According to statistics collected by app tracking firms App Annie and Sensor Tower, in April 2020 Lilith was the third highest-earning Chinese developer and ranked first overall in overseas revenue for the first four months of 2020.

As a leading mobile developer service provider in China for almost a decade, Aurora Mobile continues to leverage its “APP developer-centric” strategy to help mobile APP developers increase demand for mobile operations, business growth and monetization through agile product development, covering a wide range of sectors, including e-commerce, education, financial services, short-form video streaming, social network and gaming. As of March 2020, Aurora Mobile had provided software development kits to over 1.5 million APPs. Aurora Mobile recently launched “JG Alliance”, an APP traffic monetization service, which integrates innovative and more effective forms of advertising and interactive advertising with more interesting content tailored to users’ needs. This combination greatly improves user experience and user stickiness while enhancing the monetization efficiency for developers.

Going forward, Aurora Mobile will continue to embrace innovative development and empower mobile APP developers with stable, efficient, secure, and intelligent products and services as well as strong capabilities in machine learning and data analytics. Aurora Mobile will further explore other strategic partnerships in the gaming sector to help them grow and improve operational and monetization efficiency.

About Aurora Mobile Limited

Founded in 2011, Aurora Mobile is a leading mobile developer service provider in China. Aurora Mobile is committed to providing efficient and stable push notification, one-click verification, and APP traffic monetization services to help developers improve operational efficiency, grow and monetize. Meanwhile, Aurora Mobile’s vertical applications have expanded to market intelligence, financial risk management, and location-based intelligence, empowering various industries to improve productivity and optimize decision-making.

Safe Harbor Statement

This announcement 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,” “confident” and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile’s strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Aurora Mobile’s beliefs and expectations, are 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: Aurora Mobile’s strategies; Aurora Mobile’s future business development, financial condition and results of operations; Aurora Mobile’s ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SaaS-model; its ability maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law.

For general inquiry, please contact:

Aurora Mobile Limited

E-mail: [email protected]

Christensen

In China
Mr. Eric Yuan
Phone: +86-10-5900-1548
E-mail: [email protected]

In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: [email protected]

November 19, 2020 5:03 am

LoRa Alliance® Announces Destination LoRaWAN® Webcast Series Bringing Technology and Market Information Directly to End-Users

MachineQ, a Comcast Company, Announced as Gold Sponsor and AWS Will Keynote Series Kickoff

FREMONT, Calif., Nov. 19, 2020 (GLOBE NEWSWIRE) — The LoRa Alliance^®, the global association of companies backing the open LoRaWAN^®standard for the Internet of Things (IoT) low-power wide-area networks (LPWANs), today introduced Destination LoRaWAN, a webcast series that will kick off on December 16, 2020, and run throughout 2021. Through Destination LoRaWAN, industry leaders from inside and outside of the LoRa Alliance ecosystem will demonstrate the power LoRaWAN has to affect change in the world today.

“Destination LoRaWAN will share the latest global and regional developments with LoRaWAN technology, products and services through a series of localized virtual events,” said Donna Moore, CEO and Chairwoman of the LoRa Alliance. “Our goal is to provide the latest information on key LoRaWAN topics, showcase the value of digitizing your business, and share technical content specifically geared for developers and implementors. We are very excited to have Machine Q, a Comcast Company, leading the way as the gold sponsor of Destination LoRaWAN and Birdz and Charter Communications as our silver sponsors.”

The series will bring information and updates about LoRaWAN and the LoRa Alliance to regions around the world, with webcasts in local languages and region-specific market and technology experts. The topics will engage all audiences, from developers to end-users, who want to learn more about LoRaWAN technology and how LoRa Alliance membership drives business value for members.

The kick-off event will take place on December 16, 2020, at 10 a.m. local time in China, Europe (EST), and the United States (PST). Amazon Web Services, Inc. (AWS) leaders Michael MacKenzie, General Manager, AWS IoT Connectivity & Control Services, and Karthik Ranjan, AWS LoRaWAN Ecosystem Leader will keynote, and panelists from CareBand, Kerlink, MultiTech, and Xiamen Ursalink Technology will showcase their LoRaWAN for Good projects that support the United Nation’s 17 Sustainable Development Goals.

The LoRa Alliance also announced that it postponed the LoRaWAN^® World Expo, scheduled to be held in-person in Paris, France, on December 3 and 4, 2020, to new dates March 29-30, 2022.

Please visit our site to discover when Destination LoRaWAN will be coming to your region. We will also share updates on LinkedIn and Twitter, so be sure to follow us there.

About the LoRa Alliance:

The LoRa Alliance^® is an open, nonprofit association that has become one of the largest and fastest-growing alliances in the technology sector since its inception in 2015. Its members collaborate closely and share expertise to develop and promote the LoRaWAN^® standard, which is the de facto global standard for secure, carrier-grade IoT LPWAN connectivity. LoRaWAN has the technical flexibility to address a broad range of IoT applications, both static and mobile, and a robust LoRaWAN Certification program to guarantee that devices perform as specified. More than 140 major mobile network operators have deployed the LoRaWAN standard globally, and connectivity is available in more than 160 countries, with continual expansion. More information: http://lora-alliance.org/

LoRa Alliance^® and LoRaWAN^® are registered trademarks, used with permission.

A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/8b47cf3a-1fcb-439e-8945-b962a89828b6

MEDIA CONTACT
Eric Lawson for LoRa Alliance
[email protected]

November 19, 2020 5:03 am

Fraser Institute News Release: Forest fire activity in Canada down substantially from 1989 peak

VANCOUVER, British Columbia, Nov. 19, 2020 (GLOBE NEWSWIRE) — Forest fire activity in Canada has been decreasing over the last 30 years, along with the rest of the world, finds a new study released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.

“Contrary to popular misperceptions, forest fire activity in Canada is on the decline over the last three decades, and that is consistent with global fire activity,” said Robert P. Murphy, a senior fellow with the Fraser Institute and author of Trends in Canadian Forest Fires, 1959-2019.

The study finds that over the six decades of reliable government data from 1959-2019, the entire period shows a positive trend in the annual number of fires and total hectares burned. However, the first half of this period shows a sharp trend increase while the second half shows a trend decline. In fact, forest fire activity across the nation as a whole was significantly worse in the late 1980s through the mid-1990s, having reached its peak and maximum area burned in 1989.

For example, in 1989, 12,015 number of fires burned some 7.6 million hectares, compared to 4,062 fires burning 1.8 million hectares in 2019.

The six worst years of forest fires in Canada, measured in terms of total area burned, all occurred before the year 2000.

On a regional basis, however, the study does show that British Columbia and the Northwest Territories have experienced record-high fire activity in more recent years.

“It is wrong to say that forest fire activity is on the rise in Canada, as the last 30 years will tell us,” Murphy said.

“Though there are important regional differences to recognize and better understand.”

MEDIA CONTACT:
Robert P. Murphy, Senior Fellow
Fraser Institute

To arrange media interviews or for more information, please contact:

Drue MacPherson, Fraser Institute
(604) 688-0221 ext. 721
[email protected]

Follow the Fraser Institute on

Twitter
| Like us on Facebook

The Fraser Institute is an independent Canadian public policy research and educational organization with offices in Vancouver, Calgary, Toronto, and Montreal and ties to a global network of think-tanks in 87 countries. Its mission is to improve the quality of life for Canadians, their families and future generations by studying, measuring and broadly communicating the effects of government policies, entrepreneurship and choice on their well-being. To protect the Institute’s independence, it does not accept grants from governments or contracts for research. Visit www.fraserinstitute.org

November 19, 2020 5:03 am

Arizona Metals Corp Announces Drilling at Its Sugarloaf Peak Heap-Leach Gold-Oxide Project in La Paz County, Arizona Intersects 122 m of 0.31 g/t Gold From Surface, Including 18 m of 0.47 g/t Gold, and 19 m of 0.43 g/t Gold.

Arizona Metals Corp Announces Drilling at Its Sugarloaf Peak Heap-Leach Gold-Oxide Project in La Paz County, Arizona Intersects 122 m of 0.31 g/t Gold From Surface, Including 18 m of 0.47 g/t Gold, and 19 m of 0.43 g/t Gold.

TORONTO–(BUSINESS WIRE)–
Arizona Metals Corp. (TSX.V:AMC, OTCQB:AZMCF) (the “Company” or “Arizona Metals”) announces drill results of the final three drill holes of the 1,748 m Phase 1 drill program at its Sugarloaf Peak Project in La Paz County, Arizona.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201119005345/en/

Figure 1. Sugarloaf Peak plan view showing results of recently completed Phase 1 drill program (Graphic: Business Wire)

A total of four holes were drilled primarily to provide core for metallurgical testing, to test geophysical targets at depth, and also to provide infill data towards incorporation into an NI 43-101 resource estimate.

Drill hole SP-20-02 intersected 119.8 m of 0.34 g/t gold from surface, including 21.6 m of 0.44 g/t gold, and 34.8 m of 0.41 g/t gold.

Drill hole SP-20-03 was extended to a depth of 547 m to test a geophysical anomaly starting at a depth of approximately 270 m. This hole encountered low grade mineralization from 11.3 m to 178 m (166.7 m of 0.12 g/t gold), but did not encounter significant mineralization at depth.

Drill hole SP-20-04 intersected 122.4 m of 0.31 g/t gold from a depth of 3.1 m, including 18.7 m of 0.43 g/t gold and 17.9 m of 0.47 g/t gold. This interval was a part of larger mineralized halo, starting at a depth of 3.1 m and extending to 396.5 m, for a total of 393.5 m of 0.22 g/t gold.

As previously reported, drill hole SP-20-01 intersected 137 m of 0.53 g/t gold from surface, including, 99 m of 0.62 g/t gold, and 30 m of 0.90 g/t gold. From 179.7 m to the end of the hole at 218.5 m, the same hole also intersected 38.8 m of 0.32 g/t gold (Table 1). The hole ended in anomalous gold, and intersected gold mineralization approximately 45 m below holes drilled by previous operators in 1990 (Cominco) and 2011 (Choice Gold).

Table 1. Sugarloaf Phase 1 drill program results
Hole ID	From m	To m	Length m	Au g/t
SP-20-01	0.0	137.6	137.6	0.53
including	0.0	98.8	98.8	0.62
including	43.5	73.5	29.9	0.90
and	179.7	218.5	38.8	0.32
SP-20-02	0.0	119.8	119.8	0.34
including	6.7	23.5	16.8	0.39
including	29.4	51.1	21.6	0.44
including	65.5	79.2	13.7	0.37
including	85.0	119.8	34.8	0.41
SP-20-03	11.3	178.0	166.7	0.12
SP-20-04	3.1	396.5	393.5	0.22
including	3.1	125.4	122.4	0.31
including	42.4	61.1	18.7	0.43
including	78.5	96.4	17.9	0.47

Detailed hydrothermal alteration analyses have been completed on all four holes, and representative samples will undergo metallurgical testing at Kappes Cassiday’s facilities in Reno, Nevada. Results of the metallurgical testing are expected in 1Q’21.

Marc Pais, CEO, commented “As expected, drill holes SLP-20-01, -02, and -04, intersected grades and widths of mineralization similar to those reported in the historic estimate. We will incorporate the upcoming metallurgical test results into the design of a drill program for expansion of the near-surface oxide material. Holes SLP-20-03 and -04 were extended to depths of 457 m and 549 m, respectively, in order to test geophysical anomalies at depth. While these holes did not intersect significant high-grade gold mineralization at depth, both encountered widespread faulting and shearing, with alteration typical of greenstone hosted quartz-carbonate systems. Hole SLP-20-04 intersected a 394 m interval of low-grade gold mineralization from surface, which we believe demonstrates that the surface oxide mineralization is the surface expression of a potentially much larger system at depth.”

Table 2. Sugarloaf completed drill hole locations and orientations
Hole ID	East NAD83	North NAD 83	Elev m	Az	Dip	Depth m
SP-20-01	747630	3725020	387	180	-45	227
SP-20-02	747680	3725022	388	0	-70	369
SP-20-03	747880	3725300	375	0	-90	572
SP-20-04	747600	3724920	388	54	-57	581

Sugarloaf Peak Highlights

Project is 100% owned by Arizona Metals Corp. with no future payments
Located on 4,400 acres of BLM claims in mining-friendly La Paz County, Arizona
Historic estimate of “100 million tons containing 1.5 million ounces gold”* at a grade of 0.5 g/t (Dausinger, 1983, Westworld Resources).
Heap-leach, open-pit target that starts at surface and is tabular with no dip
Open for expansion at depth and on strike
Metallurgical testing (bottle roll) by Kinross (2009) and Agnico (2013) achieved gold recoveries of up to 73% (inline with heap-leach mines currently in operation)

Kay Mine Project, Arizona Update

A total of 20 drill holes have been completed at the Kay Mine. A downhole electromagnetic survey was also completed in September 2020 and results are pending. Permitting is currently underway for a Phase 2 drill program at the Kay Mine of 11,000m in 29 diamond drill holes.

About Arizona Metals Corp

Arizona Metals Corp owns 100% of the Kay Mine Property in Yavapai County, which is located on a combination of patented and BLM claims totaling 1,300 acres that are not subject to any royalties. An historic estimate by Exxon Minerals in 1982 reported a “proven and probable reserve of 6.4 million short tons at a grade of 2.2% copper, 2.8 g/t gold, 3.03% zinc, and 55 g/t silver.” The historic estimate at the Kay Mine was reported by Exxon Minerals in 1982. The historic estimate has not been verified as a current mineral resource. None of the key assumptions, parameters, and methods used to prepare the historic estimate were reported, and no resource categories were used. Significant data compilation, re-drilling and data verification may be required by a Qualified Person before the historic estimate can be verified and upgraded to be a current mineral resource. A Qualified Person has not done sufficient work to classify it as a current mineral resource, and Arizona Metals is not treating the historic estimate as a current mineral resource.

The Kay Mine is a steeply dipping VMS deposit that has been defined from a depth of 60 m to at least 900 m. It is open for expansion on strike and at depth.

The Company also owns 100% of the Sugarloaf Peak Property, in La Paz County, which is located on 4,400 acres of BLM claims. Sugarloaf is a heap-leach, open-pit target and has a historic estimate of “100 million tons containing 1.5 million ounces gold” at a grade of 0.5 g/t (Dausinger, 1983, Westworld Resources).

*The historic estimate at the Sugarloaf Peak Property was reported by Westworld Resources in 1983. The historic estimate has not been verified as a current mineral resource. None of the key assumptions, parameters, and methods used to prepare the historic estimate were reported, and no resource categories were used. Significant data compilation, re-drilling and data verification may be required by a Qualified Person before the historic estimate can be verified and upgraded to a current mineral resource. A Qualified Person has not done sufficient work to classify it as a current mineral resource, and Arizona Metals is not treating the historic estimate as a current mineral resource.

The Qualified Person who reviewed and approved the technical disclosure in this release is David Smith, CPG.

Quality Assurance/Quality Control

All of Arizona Metals’ drill sample assay results have been independently monitored through a quality assurance/quality control (“QA/QC”) protocol which includes the insertion of blind standard reference materials and blanks at regular intervals. Logging and sampling were completed at Arizona Metals’ core handling facilities located in Quartzite, Arizona. Drill core was diamond sawn on site and half drill-core samples were securely transported to ALS Laboratories’ (“ALS”) sample preparation facility in Tucson, Arizona. Sample pulps were sent to ALS’s labs in Vancouver, Canada, for analysis.

Gold content was determined by fire assay of a 30-gram charge with ICP finish (ALS method Au-AA23). Silver and 47 other elements were analyzed by ICP methods with four-acid digestion (ALS method ME-MS61). ALS Laboratories is independent of Arizona Metals Corp. and its Vancouver facility is ISO 17025 accredited. ALS also performed its own internal QA/QC procedures to assure the accuracy and integrity of results. Parameters for ALS’ internal and Arizona Metals’ external blind quality control samples were acceptable for the samples analyzed. Arizona Metals is not aware of any drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data referred to herein.

This press release contains statements that constitute “forward-looking information” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation, All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements contained in this press release include, without limitation, statements regarding the resumption of drilling and the effects of the COVID-19 pandemic on the business and operations of the Company. In making the forward- looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: availability of financing; delay or failure to receive required permits or regulatory approvals; and general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward- looking statements or otherwise.

NEITHER THE TSX VENTURE EXCHANGE (NOR ITS REGULATORY SERVICE PROVIDER) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

Not for distribution to US newswire services or for release, publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States

View source version on businesswire.com: https://www.businesswire.com/news/home/20201119005345/en/

Marc Pais

President and CEO Arizona Metals Corp.

(416) 565-7689

[email protected]

www.arizonametalscorp.com

https://twitter.com/ArizonaCorp

KEYWORDS: Arizona United States North America Canada

INDUSTRY KEYWORDS: Natural Resources Other Natural Resources Mining/Minerals

MEDIA:

Photo

Figure 2. Sugarloaf Peak cross section displaying historic drill holes, the results of hole SP-20-01, and large IP geophysical anomaly located directly below the historic estimate*. (Graphic: Business Wire)

Photo

Figure 1. Sugarloaf Peak plan view showing results of recently completed Phase 1 drill program (Graphic: Business Wire)

November 19, 2020 5:03 am

Sports Illustrated’s Fall Edition Tells the Remarkable Story of the Dougherty High School Football Team in Albany, Ga. –a Beacon for a Town Racked by COVID-19, Poverty, and Racial Inequality

Sports Illustrated’s Fall Edition Tells the Remarkable Story of the Dougherty High School Football Team in Albany, Ga. –a Beacon for a Town Racked by COVID-19, Poverty, and Racial Inequality

Features include a spotlight on Ryan Garcia, boxing’s next great hope; an ode to beloved sports bars; an oral history of athlete White House visits during the Trump era; an excerpt from Jim Gray’s new memoir of his unparalleled broadcasting career; and much more

NEW YORK–(BUSINESS WIRE)–
Sports Illustrated’s Fall issue introduces readers to the Dougherty High School Trojans football teamof Albany, Ga. – a group of teenagers struggling and surviving in the face of economic hardship, racial inequity and now the devastation of a deadly pandemic. This must-read, heart-wrenching story examines how high school football provides hope and builds community in a small American town that symbolizes the social, economic and medical challenges facing the entire country in 2020.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201119005180/en/

Sports Illustrated’s Fall edition tells the remarkable story of the Dougherty High School football team in Albany, Ga. (Graphic: Business Wire)

On the Cover

In the best of times, high school football provides both escapism and an escape route for millions of kids seeking to break free of racial and socioeconomic oppression. All of these struggles hit home for the Dougherty High Trojans, who live and play in Albany, Ga., one of the United States hardest-hit COVID hotspots. Brian Burnsed dives into how the Trojans’ 2020 season is about more than football. It’s a story of survival in small-town America.

The cover, story and video will be available online Nov. 19. The print edition hits newsstands and ships to subscribers Nov. 24.

SI’s Features

For more than 100 years, those endearingly low-tech first-down measuring chain crews have been a fixture of the NFL sidelines. Alex Prewitt tells their unique story – the perks, quirks, pain, and permanence of NFL chain crews.

The pandemic has ravaged small businesses around the world, yet for sports fans who relish gathering before, after, and during games, the loss of several ancient and beloved sports bars hits home. Steve Rushin spotlights and offers a fond farewell to these esteemed watering holes.

As an era ends in Washington, D.C., Michael Cohen reflects on four years of championship team visits (or not) to the White House with an oral history of how Trump impacted the tradition.

Boxer Ryan Garcia has the charisma, good looks, and massive social media following to be boxing’s next huge star. Chris Mannix looks into how the 22-year-old power puncher can fill the last requirement – some results in the ring.

Sports broadcaster Jim Gray has been everywhere in his unique broadcasting career – a journey that began with a chance interview with Muhammad Ali when Gray was an intern. Jim tells that tale and more in this excerpt from his new memoir “Talking to GOATs.”

Five years ago this month, the Missouri football team protested against their school’s tepid response to racism on campus. Michael McKnight shares how that statement is still reverberating in Columbia, and with college athletes inspired by the courage of that team.

Also in this issue:

Leading Off: College basketball returns later this month, picking up where it abruptly left off in March. SI highlights players to remember for the season ahead.

Scorecard: Pat Forde looks at the college hoops programs chasing one last postseason in 2021 before they’re hit by NCAA sanctions.

Mark Bechtel reflects on the 125th anniversary of the first North American automobile race, where the winning average speed was seven mph.

Gameplan: Previewing a new Netflix series on offbeat champions

SI Edge: What wearing a mask does to your workout

Point After: Stephanie Apstein on Clayton Kershaw’s new postseason narrative (and his new glove).

Learn more about these stories from SI’s journalists and editors; to schedule a broadcast or print interview, contact SI at [email protected].

About Sports Illustrated

Sports Illustrated (SI) is an unparalleled and influential leader recognized for its role in shaping modern culture and uniting athletes, teams and fans from all over the world. Powerful storytelling is brought to life through world-class live events, immersive experiences, and lifestyle products. Its award-winning media enterprise captures moments and turns them into history through rich and thoughtful journalism, iconic and beloved photography, and across digital platforms ranging from Emmy-winning video to an ever-expanding social community.

About Maven

Maven (maven.io) is a best-in-class technology platform empowering premium publishers who impact, inform, educate and entertain. Maven operates the media businesses for Sports Illustrated and TheStreet, and powers over 250 brands including History, Maxim, Ski Magazine, and Biography. Maven is publicly traded under the ticker symbol MVEN.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201119005180/en/

Jen Boyer, [email protected]

KEYWORDS: United States North America New York Georgia

INDUSTRY KEYWORDS: Other Consumer Women Sports General Sports Men Public Policy/Government Football Boxing Consumer Public Policy

MEDIA:

Photo

Sports Illustrated’s Fall edition tells the remarkable story of the Dougherty High School football team in Albany, Ga. (Graphic: Business Wire)

Posted on November 19, 2020 4:53 am
Aura Announces New and Improved Offtake Agreement with Trafigura starting in 2022

ROAD TOWN, British Virgin Islands, Nov. 19, 2020 (GLOBE NEWSWIRE) — Aura Minerals Inc. (TSX: ORA) (B3: AURA33) (the “Company” or “Aura”) announces that its wholly-owned subsidiary, Aranzazu Holding S.A. de C.V. (“Aranzazu”) has recently completed a competitive bidding process for a new offtake agreement with respect to the copper and gold concentrate produced at the Company’s Aranzazu mine. In connection with the completion of the bidding process, Aranzazu has entered into an offtake agreement (the “New Agreement”) with Trafigura México, S.A. de C.V. (“Trafigura”), pursuant to which Trafigura has agreed to purchase 100% of the copper and gold concentrate produced at Aranzazu during the term of the New Agreement. The New Agreement is effective as of the beginning of 2022 and continues until the end of 2024. The current offtake agreement in place with IXM Metals (the “Existing Agreement”) will remain in force until the end of 2021.

As result of a strong competitive process and improved market conditions for copper, Aura expects Aranzazu to achieve material savings under the New Agreement, improving gross margins by 4 percentage points compared to the terms of the Existing Agreement.

Rodrigo Barbosa, the Company’s President and CEO noted:

“In 2018 our priority was to restart Aranzazu under a detailed and sustainable production plan. Since we restarted the project last year, we have been investing in geology and exploration in order to increase the life of mine as well, besides optimizing operational efficiencies. As result, we have been able to exceed initial expectations set in the Feasibility Study for certain KPIs, such as recoveries and dilution. Now, we were able to improve the conditions of our offtake agreement, taking advantage of a competitive process and favorable market conditions”.

Forward-Looking Information

This press release contains “forward-looking information” and “forward-looking statements”, as defined in applicable Canadian securities laws (collectively, “forward-looking statements”) which include, but are not limited to: (i) the economic benefits of the New Agreement; (ii) the sale of copper and gold concentrate to Trafigura; (iii) the results of the Feasibility Study and the ability of the Company to achieve or exceed such results; (iv) exploration results and the extension of life of mine of Aranzazu; (v) production at Aranzazu; and (vi) market conditions for copper.

Known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s ability to predict or control, could cause actual results to differ materially from those contained in the forward-looking statements. Specific reference is made to the most recent Annual Information Form on file with certain Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements.

All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.

About Aura 360° Mining

Aura is focused on mining in complete terms – thinking holistically about how its business impacts and benefits every one of our stakeholders: our company, our shareholders, our employees, and the countries and communities we serve. We name it 360° Mining.

Aura is a mid-tier gold and copper production company focused on the development and operation of gold and base metal projects in the Americas. The Company’s producing assets include the San Andres gold mine in Honduras, the Ernesto/Pau-a -Pique gold mine in Brazil, the Aranzazu copper-gold-silver mine in Mexico and the Gold Road gold mine in the United States. In addition, the Company has two additional gold projects in Brazil, Almas and Matupá, and one gold project in Colombia, Tolda Fria.

For further information, please contact:

Rodrigo Barbosa
President & CEO
305 239 9332

Posted on November 19, 2020 4:45 am
Yatsen Holding Limited Announces Pricing of Initial Public Offering

PR Newswire

GUANGZHOU, China, Nov. 19, 2020 /PRNewswire/ — Yatsen Holding Limited (“Yatsen” or the “Company”) (NYSE: YSG), a leader in the rapidly evolving China beauty market, today announced the pricing of its initial public offering of 58,750,000 American depositary shares (“ADSs”), at US$10.50 per ADS, for a total gross offering size of US$616.9 million, assuming the underwriters do not exercise their option to purchase additional ADSs. Each ADS represents four Class A ordinary shares of the Company. The ADSs are expected to begin trading on the New York Stock Exchange (the “NYSE”) today under the ticker symbol “YSG.” The offering is expected to close on November 23, 2020, subject to customary closing conditions.

The Company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 8,812,500 additional ADSs.

Morgan Stanley & Co. LLC, Goldman Sachs (Asia) L.L.C., and China International Capital Corporation Hong Kong Securities Limited are acting as joint bookrunners for this offering. Tiger Brokers (NZ) Limited, China Renaissance Securities (Hong Kong) Limited and Futu Inc. are acting as co-managers for this offering.

A registration statement related to the ADSs being sold in this offering has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

This offering is being made only by means of a prospectus forming part of the effective registration statement. A copy of the final prospectus relating to this offering may be obtained, when available, by contacting the following underwriters:

(i)
Morgan Stanley & Co. LLC, Attention: Prospectus Dept., 180 Varick Street, 2nd floor, New York, New York 10014, or by telephone at +1 (866) 718-1649, or by email at [email protected]

(ii)
Goldman, Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282
, or by telephone at +1 (212) 902-1171, or by email at [email protected]

(iii)
China International Capital Corporation Hong Kong Securities Limited, 29th Floor, One International Finance Centre, 1 Harbour View Street, Central, Hong Kong, or by email at [email protected]

About Yatsen Holding Limited

Yatsen Holding Limited (NYSE: YSG) is a leader in the rapidly evolving China beauty market with the mission of creating an exciting new journey of beauty discovery for consumers in China and around the world. The Company has launched three fast-growing, successful color cosmetics and skincare brands: Perfect Diary, Little Ondine and Abby’s Choice, and has recently acquired Galénic, an iconic premium skincare brand. Leveraging its digitally native direct-to-customer business model, the Company has built a platform with core capabilities that disrupt every part of the traditional beauty industry value chain and deliver greater value to its customers. The Company reaches and engages with customers directly both online and offline, with expansive presence across all major e-commerce, social and content platforms in China. For more information, please visit https://ir.yatsen.com.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements which are made pursuant to 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,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

In China:

Yatsen Holding Limited
Investor Relations
E-mail: [email protected]

The Piacente Group, Inc.
Emilie Wu
Tel: +86-21-6039-8363
E-mail: [email protected]

In the United States:

The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: [email protected]

View original content:http://www.prnewswire.com/news-releases/yatsen-holding-limited-announces-pricing-of-initial-public-offering-301176851.html

SOURCE Yatsen Holding Limited

Posted on November 19, 2020 4:33 am
Houghton Mifflin Harcourt To Publish J.R.R. Tolkien’s Final Middle-Earth Writings In 2021

PR Newswire

NEW YORK, Nov. 19, 2020 /PRNewswire/ — Houghton Mifflin Harcourt Books & Media will publish The Nature of Middle-earth, a previously unseen collection of writings by J.R.R. Tolkien, in the U.S. on June 24, 2021. Presented for the first time in one volume and edited by Carl F. Hostetter, the writings will transport readers back to the world of The Silmarillion, Unfinished Tales, and The Lord of the Rings.

Deb Brody, HMH’s VP and Publisher, says: “It is well known that J.R.R. Tolkien published The Hobbit in 1937 and The Lord of the Rings in 1954–5. What may be less known is that he continued to write about Middle-earth in the decades that followed, right up until the years before his death in 1973.

“For him, Middle-earth was part of an entire world to be explored, and the writings in The Nature of Middle-earth reveal the journeys that he took as he sought to better understand his unique creation. From sweeping themes as profound as Elvish immortality and reincarnation, and the Powers of the Valar, to the more earth-bound subjects of the lands and beasts of Númenor, the geography of the Rivers and Beacon-hills of Gondor, and even who had beards!

“This new collection is a veritable treasure-trove offering readers a chance to peer over Professor Tolkien’s shoulder at the very moment of discovery: and on every page, Middle-earth is once again brought to extraordinary life.”

The Hobbit was first published in 1937 and The Lord of the Rings in 1954–5. Each has since gone on to become a beloved classic of literature, and an international bestseller in more than 70 languages, collectively selling more than 150,000,000 copies worldwide.

The Nature of Middle-earth will be published subsequently in several languages by numerous Tolkien publishers worldwide.

CARL F. HOSTETTER
has for many years been one of the world’s leading Tolkien experts and respected head of the Elvish Linguistic Fellowship. He has worked as a Computer Engineer for NASA since 1985.

About Houghton Mifflin Harcourt Books & Media

For nearly two centuries, Houghton Mifflin Harcourt has published some of the world’s most renowned novels, nonfiction, children’s books, and reference works. As part of a leading global learning company, it is uniquely positioned to offer educational and entertaining content for all audiences. Its distinguished author list includes eleven Nobel Prize winners, forty-eight Pulitzer Prize winners, fifteen National Book Award winners, and more than one hundred Caldecott, Newbery, Printz, and Sibert Medal and Honor recipients. Current and recent authors include Tim O’Brien, Natasha Trethewey, Paul Theroux, Alison Bechdel, Adam Hochschild, Tim Ferriss and a celebrated roster of children’s authors and illustrators including Kwame Alexander, Lois Lowry, and Chris Van Allsburg. HMH is also home to The Best American series® The Whole30®, Weber Grill, How to Cook Everything®, and other leading lifestyle properties; books by J.R.R. Tolkien; and many iconic children’s books and characters, including Curious George®, The Little Prince, and The Polar Express. HMH Productions develops and produces media and licensed products related to brands such as Carmen Sandiego and Oregon Trail. HMH Audio, publishes audio books of HMH front list and backlist titles.

CONTACT: Megan Wilson
Assoc. Director of Publicity
617.351.3377
[email protected]

View original content to download multimedia:http://www.prnewswire.com/news-releases/houghton-mifflin-harcourt-to-publish-jrr-tolkiens-final-middle-earth-writings-in-2021-301176769.html

SOURCE Houghton Mifflin Harcourt

Posts pagination

Previous page Page 1 … Page 40,444 Page 40,445 Page 40,446 … Page 41,021 Next page