Allied Esports Leisure to Report Fourth Quarter and Full 12 months 2020 Outcomes on Wednesday, March 31

IRVINE, California – () – Allied Esports Entertainment, Inc. (NASDAQ: AESE) (the “Company”), a global esports entertainment company, today announced that it has reported its fourth quarter and full year 2020 results after the market closed on Wednesday, December 31st. The company will also host a conference call that day to discuss the results at 2:00 p.m. (PT) / 5:00 p.m. (ET).

Participants can join the conference call by dialing 1-877-407-0792 (US) or 1-201-689-8263 (International). A live webcast of the conference call will also be available on Allied Esports’ Investor Relations website at https://ir.alliedesportsent.com. In addition, the financial information presented in response to the call will be available on Allied Esports’ investor relations website. For those unable to join the conference call, a telephone recording of the call will be available shortly after the call ends until 11:59 p.m. ET on Wednesday, April 14, 2021 by calling 1-844-512-. 2921 (USA) or 1-412-317-6671 (International) and using the repeat passcode: 13717880.

Via Allied Esports Entertainment

Allied Esports Entertainment, Inc. (NASDAQ: AESE) is a global leader in esports entertainment, bringing innovative infrastructure, transformative live experiences, cross-platform content and interactive content to audiences worldwide through the strategic merger of two strong brands: Allied Esports and World Poker Services Tour (WPT). Please visit AlliedEsportsEnt.com for more information.

RH (RH) This autumn 2020 earnings outcomes

Jason Kempin | Getty Images Entertainment | Getty Images

The furniture dealer RH, formerly Restoration Hardware, reported fourth quarter earnings and sales ahead of Wall Street estimates on Wednesday as demand for quality furniture and housewares continued to be robust.

CEO Gary Friedman said the momentum is expected to continue this year. In 2021, sales are expected to grow between 15% and 20% compared to the previous year. That includes expected revenue growth of at least 50% in the first quarter, he said, as the company passes a time when its brick and mortar stores have been temporarily closed due to the Covid pandemic.

“The fact that we have a booming real estate market, record equity market, low interest rates, expectations of economic and labor recovery combined with the recent further acceleration in our demand trends makes us feel more than less optimistic,” Friedman said in a letter to the shareholders.

The RH share gained more than 9% in after-hours trading.

Here’s how the company performed for the quarter ended January 30, compared to the expectations of analysts surveyed by Refinitiv:

  • Earnings per share: $ 5.07 versus $ 4.76 expected
  • Revenue: $ 813 million versus $ 798 million expected

It reported net income of $ 130.19 million, or $ 4.31 per share, compared to $ 68.43 million, or $ 2.66 per share, last year. With no one-time expense, the company made $ 5.07 per share, better than what analysts had been expecting $ 4.76.

Net sales increased from $ 664.98 million a year ago to $ 812.44 million. Adjusted for the cost of goods sold and inventory costs related to product recalls, the company had revenue of $ 812.62 million, exceeding analysts’ expectations of $ 798 million.

In fiscal 2020, RH sales increased 8% to $ 2.85 billion.

“We’re building the world’s most comprehensive and compelling collection of luxury home furnishings,” said Friedman. “The desirability and exclusivity of our product, enhanced in our inspiring spaces, has enabled us to gain significant market share.”

RH’s growth plans in the coming years include further expansion in the food, hospitality and even housing sectors.

The company is planning a shared apartment in Aspen, Colorado. Later in the fall, the first guesthouse concept opens in New York City. It is taking its business to Europe, England and Paris next year.

RH continues to expect this year to be the largest for product launches in the company’s history. Due to the pandemic, it held back the introduction of new home and outdoor collections in 2020. But this week a catalog with 10 new outdoor collections will be sent to customers, which initiated a massive rollout.

The RH share has risen by more than 375% in the past 12 months at the market close on Wednesday. It has a market capitalization of $ 9.3 billion.

The full press release from RH can be found here.

Accel Leisure Publicizes 2020 Working Outcomes

Accel Entertainment, Inc. (NYSE: ACEL) today announced certain financial and operating results for the three-months and fiscal year ended December 31, 2020.

Highlights

  • Ended 2020 with 2,435 locations; an increase of 5% compared to 2019

  • Ended 2020 with 12,247 VGTs; an increase of 17% compared to 2019

  • Revenue of $74 million for Q4 2020 and $316 million for YE 2020

  • Net loss of $10 million for Q4 2020 and $13 million for YE 2020

  • Adjusted EBITDA of $5 million for Q4 2020 and $34 million for YE 2020

  • Completed acquisition of American Video Gaming on December 30, 2020, an Illinois operator with 49 locations

Recent Events

  • February 2021 was the highest revenue month in Accel’s history

  • Entered into a securities purchase agreement in March 2021 to acquire Century Gaming, Inc., one of the leading distributed gaming operators in Montana and Nevada

2021 Guidance

While it is difficult to predict the duration and impact of COVID-19, our 2021 guidance includes the impact of the January 2021 shutdown, assumes no M&A, and includes increased operating expenses for COVID-19.

  • End 2021 with an estimated 13,250 – 13,400 VGTs

  • End 2021 with an estimated 2,550 – 2,575 locations

  • 2021 Revenue estimated to be $580 – $600 million

  • 2021 Adjusted EBITDA[1] estimated to be $95 – $100 million

  • 2021 capital expenditures estimated to be $20-$25 million of cash spend

Accel Entertainment CEO Andy Rubenstein commented, “We are pleased to have achieved strong financial results for both the fourth quarter and full year 2020, despite industry-wide complexities resulting from the COVID-19 pandemic. Our asset-light business model was key to allowing us to end the year stronger than ever, and execute on our growth plans to secure additional scale, as illustrated by our recent acquisition of American Video Gaming. As a result of these efforts we have begun 2021 with a strong tailwind, achieving the highest revenue month in our history in February. We’re confident we are well-positioned to continue this success as the market recovers and we remain focused on delivering a safe, yet comfortable gaming experience for our players.”

Story continues

Consolidated Statements of Operations and Comprehensive (Loss) Income and Other Data

Three Months Ended
December 31,

Year Ended
December 31,

(in thousands)

2020

2019

2020

2019

(As Restated)

(As Restated)

Total net revenues

$

74,414

$

122,812

$

316,352

$

428,696

Operating loss

(11,966)

(5,657)

(24,679)

13,336

Loss before income taxes

(13,650)

(19,976)

(29,902)

(10,502)

Net loss

(10,411)

(22,425)

(12,984)

(15,701)

Other Financial Data:

Adjusted EBITDA(1)

4,708

20,795

33,901

79,594

Adjusted net (loss) income(2)

(4,134)

1,300

5,776

22,695

(1)

Adjusted EBITDA is defined as net (loss) income plus amortization of route and customer acquisition costs and location contracts acquired; stock-based compensation expense; (gain) loss on change in fair value of contingent earnout A-2 shares; other expenses, net; tax effect of adjustments; depreciation and amortization of property and equipment; interest expense; emerging markets; and provision for income taxes. For additional information on Adjusted EBITDA and a reconciliation of net (loss) income to Adjusted EBITDA, see “Non-GAAP Financial Measures—Adjusted EBITDA and Adjusted net (loss) income.”

(2)

Adjusted net (loss) income is defined as net (loss) income plus amortization of route and customer acquisition costs and location contracts acquired; stock-based compensation expense; (gain) loss on change in fair value of contingent earnout A-2 shares, other expenses, net; and tax effect of adjustments. For additional information on Adjusted net (loss) income and a reconciliation of net (loss) income to Adjusted net (loss) income, see “Non-GAAP Financial Measures— Adjusted EBITDA and Adjusted net (loss) income.”

Key Metrics

As of December 31,

2020

2019

Licensed establishments (1)

2,435

2,312

Video gaming terminals (2)

12,247

10,499

Average remaining contract term (years) (3)

6.8

6.9

December 31,

2020

2019

Location hold-per-day – for the three months ended(4) (in whole $)

$

583

$

554

Location hold-per-day – for the year ended(4) (in whole $)

$

585

$

590

(1)

Based on Scientific Games International third-party terminal operator portal data which is updated at the end of each gaming day and includes licensed establishments that may be temporarily closed but still connected to the central system. This metric is utilized by Accel to continually monitor growth from existing locations, organic openings, acquired locations, and competitor conversions.

(2)

Based on Scientific Games International third-party terminal operator portal data which is updated at the end of each gaming day and includes VGTs that may be temporarily shut off but still connected to the central system. This metric is utilized by Accel to continually monitor growth from existing locations, organic openings, acquired locations, and competitor conversions.

(3)

Calculated by determining the average expiration date of all outstanding contracts, and then subtracting the applicable measurement date. The IGB limited the length of contracts entered into after February 2, 2018 to a maximum of eight years with no automatic renewals.

(4)

Calculated by dividing the difference between cash deposited in all VGTs at each licensed establishment and tickets issued to players at each licensed establishment by the number of locations in operation each day during the period being measured. Then divide the calculated amount by the number of operating days in such period. Excluding the Grand River Jackpot acquisition, location hold-per-day was $649 and $637 for the three months and year ended December 31, 2020, respectively. Location hold-per-day for the year ended December 31, 2020 is computed based on 217-eligible days of gaming (excludes 148 non-gaming days due to the IGB mandated COVID-19 shutdown).

Consolidated Statements of Cash Flows Data

Year Ended December 31,

(in thousands)

2020

2019

(As Restated)

Net cash (used in) provided by operating activities

$

(3,705

)

$

45,565

Net cash used in investing activities

(61,435

)

(151,532

)

Net cash provided by financing activities

74,188

139,141

Non-GAAP Financial Measures

Three Months Ended
December 31,

Year Ended
December 31,

(in thousands)

2020

2019

2020

2019

(As Restated)

(As Restated)

Net loss

$

(10,411)

$

(22,425)

$

(12,984)

$

(15,701)

Adjustments:

Amortization of route and customer acquisition costs and location contracts acquired(1)

5,830

4,763

22,608

17,975

Stock-based compensation(2)

1,483

1,852

5,538

2,236

(Gain) loss on change in fair value of contingent earnout shares(3)

(1,850)

9,836

(8,484)

9,837

Other expenses, net(4)

3,228

12,103

8,948

19,649

Tax effect of adjustments(5)

(2,414)

(4,829)

(9,850)

(11,301)

Adjusted net (loss) income

(4,134)

1,300

$

5,776

$

22,695

Depreciation and amortization of property and equipment

5,670

7,734

20,969

26,398

Interest expense, net

3,534

3,342

13,707

12,860

Emerging markets(6)

463

517

Income tax (benefit) expense

(825)

7,278

(7,068)

16,500

Loss on debt extinguishment

1,141

1,141

Adjusted EBITDA

4,708

20,795

$

33,901

$

79,594

(1) Route and customer acquisition costs consist of upfront cash payments and future cash payments to third-party sales agents to acquire the licensed video gaming establishments that are not connected with a business combination. Accel amortizes the upfront cash payment over the life of the contract, including expected renewals, beginning on the date the location goes live, and recognizes non-cash amortization charges with respect to such items. Future or deferred cash payments, which may occur based on terms of the underlying contract, are generally lower in the aggregate as compared to established practice of providing higher upfront payments, and are also capitalized and amortized over the remaining life of the contract. Future cash payments do not include cash costs associated with renewing customer contracts as Accel does not generally incur significant costs as a result of extension or renewal of an existing contract. Location contracts acquired in a business combination are recorded at fair value as part of the business combination accounting and then amortized as an intangible asset on a straight-line basis over the expected useful life of the contract of 10 years. “Amortization of route and customer acquisition costs and location contracts acquired” aggregates the non-cash amortization charges relating to upfront route and customer acquisition cost payments and location contracts acquired.

(2) Stock-based compensation consists of options, restricted stock units and warrants.

(3) (Gain) loss on change in fair value of contingent earnout A-2 shares represents an unrealized fair value adjustment at each reporting period end related to the value of these contingent shares. Upon achieving such contingency, A-2 shares convert to A-1 common stock resulting in a non-cash settlement of the obligation.

(4) Other expenses, net consists of (i) non-cash expenses including the remeasurement of contingent consideration liabilities, (ii) non-recurring expenses relating to lobbying efforts and legal expenses in Pennsylvania and lobbying efforts in Missouri, (iii) non-recurring costs associated with COVID-19 and (iv) other non-recurring expenses.

(5) Calculated by excluding the impact of the non-GAAP adjustments from the current period tax provision calculations.

(6) Emerging markets consist of the results, on an adjusted EBITDA basis, for non-core jurisdictions where our operations are developing. Markets are no longer considered emerging when Accel has installed or acquired at least 500 gaming terminals in the jurisdiction, or when 24 months have elapsed from the date Accel first installs or acquires gaming terminals in the jurisdiction, whichever occurs first.

Restatement of prior period financial statements

The restatement reflects adjustments to correct an error related to the accounting treatment of certain earn out arrangements issued in connection with the 2019 business combination with TPG Pace Holdings Corp., a special purpose acquisition company, that were previously presented as equity. Because the number of Class A-1 common stock (the “contingent earnout shares”) the holder is entitled to under the agreement are dependent, in part, upon the occurrence of a change of control, which is not an input to the fair value of a fixed for fixed contract on equity shares, the Company determined that the contingent earnout share obligation should be presented as a liability and marked to fair value each period, not equity-classified as previously presented. The Company also concluded that Class A-2 common stock issued in the transaction does not represent an increase in equity due to the fact that such shares are not entitled to dividends, voting rights, or a stake in the Company in the case of liquidation. Accordingly, the contingent earnout is now reflected as a liability at fair value on the Company’s consolidated balance sheets at December 31, 2020 and 2019, and the change in the fair value of such liability in each period is recognized as a gain or loss in the Company’s consolidated statements of operations and comprehensive (loss) income. The contingent earnout liability does not constitute indebtedness of the Company and will only be satisfied, if earned, by settlement in the Company’s Class A-1 common stock in a non-cash transaction. The existence of contingent earnout shares occurred as a result of the Company’s merger and reverse recapitalization occurring on November 20, 2019 and did not impact any reporting periods prior to the merger and reverse recapitalization transaction.

The Company also corrected certain classification errors impacting amusement revenue, ATM fees and other revenue, and cost of revenue that were previously presented net instead of gross, and certain revenue share expenses that were previously presented in general and administrative instead of cost of revenue. There is no impact to net income (loss) as a result of these reclassifications.

Conference Call

Accel will host an investor conference call on March 15, 2021 at 11 a.m. Central (12 p.m. Eastern) to discuss these operating and financial results. Interested parties may join the live webcast by registering at https://www.directeventreg.com/registration/event/662712 or accessing the webcast via the company’s investor relations website: ir.accelentertainment.com. Following completion of the call, a replay of the webcast will be posted on Accel’s investor relations website.

About Accel

Accel believes it is the leading distributed gaming operator in the United States on an Adjusted EBITDA basis, and a preferred partner for local business owners in the Illinois market. Accel’s business consists of the installation, maintenance and operation of VGTs, redemption devices that disburse winnings and contain ATM functionality, and other amusement devices in authorized non-casino locations such as restaurants, bars, taverns, convenience stores, liquor stores, truck stops, and grocery stores.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, contained in this press release are forward-looking statements, including, but not limited to, any statements regarding our 2021 guidance, including with respect to the duration and impact of the COVID-19 crisis (including expected operating expenses related thereto), potential acquisitions or strategic alliances, and our estimates of number of VGTs, locations, revenues, [net (loss) income], Adjusted EBITDA and capital expenditures. The words “predict,” “estimated,” “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “will,” “would,” “continue,” and similar expressions or the negatives thereof are intended to identify forward looking statements. These forward looking statements represent our current reasonable expectations and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance and achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. We cannot guarantee the accuracy of the forward-looking statements, and you should be aware that results and events could differ materially and adversely from those contained in the forward looking statements due to a number of factors including, but not limited to: the existing and potential future adverse impact of the COVID-19 pandemic on Accel’s business, operations and financial condition, including as a result the suspensions of all video gaming terminal operations by the Illinois Gaming Board between March 16, 2020 and June 30, 2020 and between November 1 9, 2020 and January 23, 2021, which suspensions could be reinstated; Accel’s ability to operate in existing markets or expand into new jurisdictions; Accel’s ability to manage its growth effectively; Accel’s ability to offer new and innovative products and services that fulfill the needs of licensed establishment partners and create strong and sustained player appeal; Accel’s dependence on relationships with key manufacturers, developers and third parties to obtain VGTs, amusement machines, and related supplies, programs, and technologies for its business on acceptable terms; the negative impact on Accel’s future results of operations by the slow growth in demand for VGTs and by the slow growth of new gaming jurisdictions; Accel’s heavy dependency on its ability to win, maintain and renew contracts with licensed establishment partners; unfavorable economic conditions or decreased discretionary spending due to other factors such as epidemics or other public health issues (including COVID-19), terrorist activity or threat thereof, civil unrest or other economic or political uncertainties, that could adversely affect Accel’s business, results of operations, cash flows and financial conditions and other risks and uncertainties indicated from time to time in documents filed or to be filed with the Securities and Exchange Commission (“SEC”). Accordingly, forward-looking statements, including any projections or analysis, should not be viewed as factual and should not be relied upon as an accurate prediction of future results. The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on the Accel. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control), or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described in the sections entitled “Risk Factors” in the Quarterly Reports on Form 10 Q and in the Annual Report on Form 10-K filed by Accel with the SEC, as well as Accel’s other filings with the SEC. Except as required by law, we do not undertake publicly to update or revise these statements, even if experience or future changes make it clear that any projected results expressed in this or other press releases or future quarterly reports, or company statements will not be realized. In addition, the inclusion of any statement in this press release does not constitute an admission by us that the events or circumstances described in such statement are material. We qualify all of our forward-looking statements by these cautionary statements. In addition, the industry in which we operate is subject to a high degree of uncertainty and risk due to a variety of factors including those described in the section entitled “Risk Factors” in the Quarterly Reports on Form 10-Q and in the Annual Report on Form 10-K filed by Accel with the SEC, as well as Accel’s other filings with the SEC. These and other factors could cause our results to differ materially from those expressed in this press release.

Non-GAAP Financial Information

This press release includes certain financial information not prepared in accordance with Generally Accepted Accounting Principles in the United States (“GAAP”), including Adjusted EBITDA and Adjusted net (loss) income. Adjusted EBITDA and adjusted net (loss) income are non-GAAP financial measures and are key metrics used to monitor ongoing core operations. Management of Accel believes Adjusted EBITDA and adjusted net (loss) income enhance the understanding of Accel’s underlying drivers of profitability and trends in Accel’s business and facilitates company-to-company and period-to-period comparisons, because these non-GAAP financial measures exclude the effects of certain non-cash items, represents certain nonrecurring items that are unrelated to core performance, or excludes non-core operations. Management of Accel also believes that these non-GAAP financial measures are used by investors, analysts and other interested parties as measures of financial performance.

Although Accel excludes amortization of route and customer acquisition costs and location contracts acquired from Adjusted EBITDA and Adjusted net (loss) income, Accel believes that it is important for investors to understand that these route, customer and location contract acquisitions contribute to revenue generation. Any future acquisitions may result in amortization of route and customer acquisition costs and location contracts acquired.

Adjusted EBITDA and Adjusted net (loss) income are not recognized terms under GAAP. These non-GAAP financial measures excludes some, but not all, items that affect net (loss) income, and these measures may vary among companies. These non-GAAP financial measures are unaudited and have important limitations as an analytical tool, should not be viewed in isolation and do not purport to be alternatives to net loss as indicators of operating performance.

[1] Although we provide guidance for Adjusted EBITDA, we are not able to provide guidance for net income, the most directly comparable GAAP measure. Certain elements of the composition of GAAP net income, including stock-based compensation expenses, are not predictable, making it impractical for us to provide guidance on net income or to reconcile our Adjusted EBITDA guidance to net income without unreasonable efforts. For the same reason, we are unable to address the probable significance of the unavailable information.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210315005270/en/

Contacts

Media Contact:
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Abernathy MacGregor
212-371-5999
ejb@abmac.com

HighGold Mining newest assay outcomes present VMS-Fashion mineralization at Northeast offset at Johnson

Darwin Green, CEO of Mining (CVE: HIGH-OTCQX: HGGOF), joined Steve Darling from Proactive to share details. The company has released test results from the 2020 exploration drill program on its flagship Johnson Tract project.

Green reports two holes on the Northeast Offset Target from the southernmost of three drill cross sections completed during the 2020 field season. According to Green, this gives the company an understanding of the Johnson Tract geology and marks a significant turning point for the project.

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Corus Leisure’s Second Quarter Monetary Outcomes to be Launched April 9, 2021

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The bottom is in for these 3 stocks? Analysts say “buy”

Never say that one person makes no difference. Last Thursday, stocks fell, bonds rose, and investors took inflation risks seriously – all because someone said what they thought. Federal Reserve Chairman Jerome Powell held a press conference giving both good and bad. He reiterated his belief that the COVID vaccination program will allow the economy to reopen completely and that the labor market will revive. That’s the good news. The bad news is that consumer prices are likely to rise in the short term too – inflation. And when inflation starts to rise, interest rates rise too – and then stocks usually slide. We’re not there yet, but the ghost last week was enough to put serious pressure on the stock markets. However, as the market decline has driven many stocks to lows, several Wall Street analysts believe now is the time to buy in. These analysts have identified three tickers with current stock prices landing near their 52-week lows. The analysts note that everyone will return on an uptrend and see an attractive entry point. Not to mention that everyone has bought a consensus rating of moderate or strong according to the TipRanks database. Alteryx (AYX) We’re starting Alteryx, a California-based analytics software company that leverages the big changes in the information age. Data has become a commodity and an asset, and businesses now more than ever need the ability to gather, collect, sort, and analyze myriad raw data. Alteryx’s products do just that, and the company has built on that need. In the fourth quarter, the company reported net earnings of 32 cents per share on total revenues of $ 160.5 million, beating consensus estimates. The company also reported good news in terms of liquidity, with $ 1 billion in cash available as of December 31, up 2.5% year over year. In the fourth quarter, operating cash flow was $ 58.5 million, down from $ 20.7 million a year ago. However, investors were concerned about the unexpectedly low outlook. The company forecast sales between $ 104 million and $ 107 million, compared to $ 119 million analysts had expected. The stock fell 16% according to the report. This was compounded by the general market slowdown at the same time. Overall, AYX is down ~ 46% over the past 52 months. However, the recent sell-off could be an opportunity as business remains solid during these challenging times, according to Wedbush’s 5-star analyst Daniel Ives. “We continue to believe that the company is well positioned to drive nearly $ 50 billion worth of market share in the analytics, business intelligence and data preparation market with its end-to-end code-friendly data preparation and analysis platform. Dollars to win as soon as the pandemic pressure subsides. The decline in sales was due to a mix of products tending to recognize upfront revenue, improve churn rates, and improve customer spending trends, “said Ives. Ives’ comments underpinned his outperform rating (i.e. buy) and price target of $ 150, up 89% for the stock for a year. (To see Ives’ track record, click here) In total, the 13 most recent analyst reviews on Alteryx, divided into 10 buys and 3 holds, give the stock one Strong Buying Analysts Consensus Rating. Stocks sell for $ 79.25 with an average price target of $ 150.45. (See AYX stock analysis on TipRanks.) Root, Inc. (ROOT) As we move into the insurance sector, we’ll be looking at Root This insurance company interacts with customers through its app who act more like a tech company than a car insurer th. But it works because the way customers interact with companies is changing. Root also uses data analytics to set tariffs for customers, where fees and premiums are based on measurable and measured metrics about how a customer actually drives. It is a personalized version of auto insurance that is suitable for the digital age. Root has also extended its model to the rental insurance market. Root has been publicly trading for only 4 months; The company went public back in October and is currently down 50% since it hit the market. In its fourth quarter and full year 2020 results, Root posted solid gains in direct premiums, although the company is still posting a net loss. For the quarter, direct earnings awards increased 30% year over year to $ 155 million. For 2020 as a whole, that metric increased 71% to $ 605 million. The net loss for the full year was $ 14.2 million. Truist’s 5-star analyst Youssef Squali reports on Root, and he sees the company maneuvering to get a favorable outlook this year and next. “ROTS Management continues to refine its growth strategy two quarters after the IPO, and the outlook for Q4 20/2021 reflects such a process. They believe that their increased marketing investments during the year will accelerate the growth in the number of policies and should provide a significant tailwind towards 2022. To us, this seems part of a deliberate strategy to balance revenue growth and profitability shifting slightly more in favor of the latter, ”noted Squali. Squali’s valuation of the stock is a buy, and its target price of $ 24 points to a 95% uptrend over the coming months. (To see Squali’s track record, click here.) Root’s shares sell for $ 12.30 each, and the average target of $ 22 indicates a possible uptrend of ~ 79% by year-end. There are 5 ratings registered, including 3 to buy and 2 to hold, making the analyst consensus a moderate buy. (See ROOT stock analysis on TipRanks.) Arco Platform, Ltd. (ARCE) The move to online and remote working has not only affected the workplace. Schools and students around the world have also had to adapt. Arco Platform is a Brazilian education company providing content, technology, add-on programs and specialized services to school customers in Brazil. The company has more than 5,400 schools on its list of customers with programs and products in classrooms from kindergarten to high school – and over 405,000 students using Arco Platform learning tools. Arco will release fourth quarter and full year 2020 results later this month. However, a look at the release of the third quarter in November is instructive. The company called 2020 “proof of the resilience of our business”. In terms of numbers, Arco saw strong sales growth in 2020 – no surprise given the move to distance learning. Quarterly sales of 208.7 million Brazilian reals ($ 36.66 million) increased 196% year over year, while sales for the first nine months of the year were 705.2 million real (123.85 million US dollars) ) increased by 117% compared to the previous year. Income for education companies may vary over the course of the school year depending on the school holiday schedule. The third quarter is typically Arco’s worst of the year with a net loss – and 2020 was no exception. However, the net loss for the third quarter was only 9 cents per share – a huge improvement over the 53 cents loss reported in the third quarter of 19. Mr. Market has cut 38% of the company’s share price over the past 12 months. However, one analyst believes that this lower share price could offer new investors an opportunity to get into ARCE cheaply. Credit Suisse’s Daniel Federle rates ARCE as an outperform (ie buy) along with a price target of USD 55. This number implies a 12 month upside potential of ~ 67%. (To see Federle’s track record, click here.) Confident that the company is positioned for the next phase of growth, Federle notes: “[The] The company is structurally sound and moving in the right direction. … Any weak operational data point is macro-related rather than a business-related problem. We continue to assume that growth will return to normal once the COVID effects go away. Regarding expansion plans, Federle noted, “Arco mentioned that it is within its plans to bring a product to the B2C market, probably as early as 2021. The product will focus on providing courses (e.g. test prep ) directly to students. It is important to note that this product is not a replacement for learning systems, but an addition. The potential success in the B2C market is an upside risk to our estimates. “There are only two reviews for Arco, although both are purchases, making the analyst consensus here a moderate buy. The shares trade for $ 33.73 and have an average price target of $ 51, indicating an upward movement of 51% from that level. (See ARCE stock analysis on TipRanks.) To find great ideas for trading rundown stocks at attractive valuations, visit TipRanks’ Best Stocks to Buy, ‘a newly launched tool that brings together all of TipRanks’ stock insights. Disclaimer: The opinions expressed in this article are solely those of the analysts presented. The content is intended to be used for informational purposes only. It is very important that you do your own analysis before making any investment.

AMC Leisure Holdings, Inc. to Announce Fourth Quarter and 12 months-Finish 2020 Outcomes and Host Earnings Webcast

TipRanks

Goldman Sachs predicts these two stocks will rally over 50%

Stocks started this year on strong gains that fell last week and are now rising again. The big tech giants led the moves, with volatility on Apple and Amazon leading the NASDAQ on its spins. The strategy team at investment bank Goldman Sachs has taken note of the market changes and worked out what this means for investors. Macro strategist Gurpreet Gill, who is closely monitoring bond yields and stock values, said, “The rise in global yields reflects the improved growth prospects to be expected given encouraging vaccine progress and significant fiscal stimulus ahead in the US. [It] also signals higher inflation expectations and in turn pulled forward expectations for the timing of monetary policy normalization. “Monetary policy can be the key to allaying investor worries – and in that regard, Federal Reserve Chairman Jerome Powell’s testimony to Congress is valued positively. In his comments to lawmakers, the head of the central bank pointed out that the Fed had no plans to raise interest rates anytime soon. So far, the outlook has been in line with predictions from Goldman economist Jan Hatzius, who earlier this year expressed his belief that the Fed would hold rates and that 2021 will be a good year for long equities. So much for the macro outlook. At the micro level, Goldman analysts have been busy finding the stocks they think will win if current conditions persist in the short to medium term. In particular, they found two stocks that they believed had 50% or more upside potential. Using TipRanks’ database, we found that both tickers also had a consensus rating of “Strong Buy” from the rest of the street. Vinci Partners Investments (VINP) The first Goldman selection we look at is Vinci Partners, an alternative investment and wealth management firm based in Brazil. The company offers a range of services and funds to its clients, including access to hedge funds, real estate and infrastructure investments, private equity and credit investments. Vinci has global reach and a leadership position in the Brazilian wealth management industry. At the beginning of the new year, Vinci went public in the NASDAQ index. VINP shares traded at $ 17.70 on Jan. 28, slightly below the company’s original price of $ 18. On the first day of trading, 13.87 million VINP shares were offered for sale. After about four weeks in the public markets, Vinci has a market cap of $ 910 million. Analyst Tito Labarta covers this stock for Goldman Sachs and describes Vinci as a well diversified wealth platform with strong growth potential. “We believe Vinci is well positioned to gain market share and outperform market growth in the face of strong competitive advantage. With seven different investment strategies and 261 funds, Vinci has one of the most diverse product offerings among its colleagues in the field of alternative asset management. In addition, Vinci has outperformed its benchmarks across all strategies, has a strong track record, and has received awards from relevant institutions such as Institutional Investor, Morningstar, Exame and InfoMoney. The company has developed strong communication tools to strengthen its brand and institutional presence in the Brazilian market, such as podcasts, seminars, investor days with IFAs and other participation in events and webinars, “said Labarta, assessing VINP with a purchase and its target price of $ 39 implies an impressive upside of 141% for the coming year. (To see Labarta’s track record, click here) A month on NASDAQ has brought Vinci with a 3 positive attention from Wall Street analysts The stock is currently trading for 16 , Sold $ 15, and its average price target of $ 26.75 suggests it has room for ~ 66% growth over the next 12 months. See VINP stock analysis at TipRanks. Ortho Clinical Diagnostics Holdings (OCDX) Die Goldman Sachs analysts have also identified Ortho Clinical Diagnostics as a potential winner for investors, The Un The company is a leader in in vitro diagnostics and works with hospitals, clinics, laboratories and blood banks around the world to deliver fast, safe and accurate test results. Ortho Clinical Diagnostics has several major novelties in its industry: It was the first company to provide a diagnostic test for the Rh +/- blood group for the detection of HIV and HEP-C antibodies, and more recently it has been involved in COVID- worked. 19 tests. Ortho is the world’s largest all-in-vitro diagnostic company, performing over 1 million tests on more than 800,000 patients around the world every day. Like Vinci Partners above, this company went public on January 28th. When Ortho went public, it launched 76 million shares. Trading on the first day was $ 15.50, down from the original price of $ 17. Even so, the IPO raised gross funds of $ 1.22 billion and the subscribers’ over-allotment option raised an additional $ 193 million. Goldman Sachs analyst Matthew Sykes believes the company’s past growth performance warrants positive sentiment and that Ortho is poised to cut its balance sheet. “The key to OCDX’s stock history is to roll back the organic growth rate from a historical pace of roughly unchanged to 5-7% consistently. Given the profitability and potential FCF generation, OCDX could roll back growth to ease the burden on the balance sheet and increase the growth inorganic and organic investments to create a sustainable growth algorithm, “wrote Sykes. The analyst added: “From our point of view the most important growth driver is the increase in the customer value of OCDX for life, which is achieved by the transition of the product range of the Clinical Lab business from a stand-alone instrument for clinical chemistry to an integrated platform and ultimately to an automated platform This transition takes place largely within its own customer base and is therefore not dependent on the shift, but rather serves the need to increase the throughput of a customer’s diagnostic functions. To this end, Sykes values ​​OCDX with a purchase price and sets a price Target of $ 27 fixed target. At current levels, that’s a year-long upward movement of 51%. (To see Sykes’ track record, click here.) Ortho has a long history of delivering results for its clients and the Wall Street is in the mood to rate these OCDX stocks old a strong buy from analyst consensus based on 9 buy ratings set since going public – versus just a single hold. The average price target is $ 23.80, which indicates an upside potential of ~ 33% from the current trading price of $ 17.83. (See OCDX stock analysis on TipRanks.) To find good ideas for trading stocks at attractive valuations, visit TipRanks’ Best Stocks to Buy, ‘a newly launched tool that brings together all of TipRanks’ stock insights. Disclaimer: The opinions expressed in this article are solely those of the analysts presented. The content is intended to be used for informational purposes only. It is very important that you do your own analysis before making any investment.

Thunderbird Leisure Group Reviews on Second Quarter Fiscal 12 months 2021 Outcomes | Enterprise

VANCOUVER, British Columbia–(BUSINESS WIRE)–Feb 24, 2021–

Thunderbird Entertainment Group Inc. ( TSXV: TBRD, OTCQX: THBRF ) ( Thunderbird or the Company ), today announced its financial results for the second quarter ended December 31, 2020 (“Fiscal 2021”), and provided a corporate update.

  • The Company recognized revenue of $28.0 million and $47.7 million in the three and six months ended December 31, 2020, increases of 98% ($13.9 million) and 56% ($17.1 million) over the comparative periods.
  • Adjusted EBITDA was $5.2 million and $10.0 million for the three and six months ended December 31, 2020 compared to $2.0 million and $5.7 million for the comparative periods in fiscal 2020, increases of $3.2 million and $4.3 million, respectively. These increases are primarily due to growth in the Kids and Family Division.
  • Production services revenue for the three and six months ended December 31, 2020 increased by 63% ($7.4 million) and 53% ($11.7 million) over the comparative periods, due to an increase in the number and size of contracts. This revenue consists primarily of animation production services, which experienced continued growth.
  • Licensing and distribution revenues increased by 272% ($6.4 million) and 63% ($5.3 million) for the three and six months ended December 31, 2020 over the comparative periods, due mainly to the timing of delivery of the animated series The Last Kids on Earth. In the current quarter, the Company recognized revenue from 10 episodes of TheLast Kids on Earth and six episodes of the factual series Highway Thru Hell. In the comparative quarter, revenue was recognized from seven episodes of Highway Thru Hell.
  • Free cash flow was $4.4 million and $5.6 million for the three and six months ended December 31, 2020 as compared to ($3.8) million and $0.2 million for the comparative periods, increases of $8.2 million and $5.4 million, respectively.

“As we continue to grow Thunderbird into a major global studio, Q2 results further demonstrate that our long-term strategy and initiatives are paying off, with significant increases in revenue and Adjusted EBITDA, year-over-year,” said Jennifer Twiner McCarron, President and CEO of Thunderbird. “In Q2, we were in production on 21 properties – including a growing percentage of owned-IP projects that offer higher economic value and for which we fully control the rights. This, in conjunction with our new consumer products division, allows us to fully leverage the world class brands being created at Thunderbird.”

Thunderbird’s Q2 2021 Corporate Highlights

  • During the second quarter, Thunderbird had 21 programs in various stages of production. The Company’s work airs on Netflix, Peacock, Nickelodeon, AppleTV+, Hulu, PBS, Bell Media’s Discovery, Disney+, Corus Entertainment and the CBC, among others. Ten of the projects in production are Company IP or partner-managed.
  • The Factual and Scripted Division, Great Pacific Media (GPM), was in production on four series and one documentary special: Highway Thru Hell (Seasons 9 and 10), Heavy Rescue: 401 (Seasons 5 and 6), $ave My Reno (Season 4), Mud Mountain Haulers (Season 1) and The Teenager and the Lost Mayan City (Documentary for CBC). Kim’s Convenience was in production on Season 5.
  • The Kids and Family Division, Atomic Cartoons, was in various stages of production on 13 animated series, and two feature length animated productions, 15 productions in total. Productions include co-producing Mighty Express with Spin Master for Netflix , LEGO Star Wars Holiday Special for Disney+, Molly of Denali for GBH/ PBS KIDS and Trolls: TrollsTopia in partnership with Dreamworks for streaming on Hulu and Peacock. A Curious George production is also in production for Peacock.
  • Also, during the quarter, spring 2021 timing was announced for The Last Kids on Earthand the Staff of Doom video game, which is a key component of the owned-IP The Last Kids on Earth franchise.
  • Subsequent to Q2, the Company launched a Global Distribution and Consumer Products Division, bringing on industry veteran Richard Goldsmith to lead as President of Global Distribution and Consumer Products.
  • Additionally, subsequent to the quarter, Thunderbird premiered several productions including owned-IP Kim’s Convenience (Season 5), Heavy Rescue: 401 (Season 5), and Mud Mountain Haulers (Season 1). The season premiere of $ave My Reno (Season 4) has been announced for March 16, 2021. The animated series Hello Ninja (Season 4), and Mighty Express (Season 2) also premiered.
  • Subsequent to the quarter, Thunderbird was named to the 2021 TSX Venture 50, a ranking of top performing companies traded on the TSX Venture.

($000’s)

 

 

 

December 31,
2020

 

June 30,
2020

 

 

 

 

 

 

 

Total assets

 

 

$

165,337

$

155,177

Total non-current liabilities

 

 

$

27,357

$

28,154

Shareholders’ equity

 

 

$

59,302

$

53,661

 

 

For the three months
ended

For the six months
ended

 

Dec 31,
2020

Dec 31,
2019

Dec 31,
2020

Dec 31,
2019

($000’s, except per share data)

$

$

$

$

 

 

 

 

 

Revenue

27,950

14,093

47,740

30,635

Expenses

26,422

14,399

44,744

29,601

Net income (loss) from continuing operations

1,528

(306)

2,996

1,034

Income (loss) from discontinued operation

97

(420)

16

(568)

Net income (loss) for the period

1,625

(726)

3,012

466

Foreign currency translation adjustment

(19)

(3)

(22)

(1)

Gain (loss) on translation of discontinued operation

(18)

13

(62)

7

Comprehensive net income (loss) for the period

1,588

(716)

2,928

472

 

 

 

 

 

Basic income (loss) per share – continuing operations

0.032

(0.007)

0.064

0.022

Diluted income (loss) per share – continuing operations

0.030

(0.007)

0.061

0.021

Basic income (loss) per share – discontinued operation

0.002

(0.009)

0.000

(0.012)

Diluted income (loss) per share – discontinued operation

0.002

(0.009)

0.000

(0.012)

 

EBITDA, Adjusted EBITDA and Free Cash Flow

 

For the three months
ended

For the six months
ended

 

Dec 31,
2020

Dec 31,
2019

Dec 31,
2020

Dec 31,
2019

($000’s)

$

$

$

$

 

 

 

 

 

Net income (loss) from continuing operations

1,528

(306)

2,996

1,034

 

 

 

 

 

Income tax expense

1,492

531

1,811

1,086

Deferred income tax recovery

(482)

(696)

(423)

(679)

Finance costs

 

 

 

 

Interest

314

421

791

721

Dividends on preferred shares

18

18

36

36

Amortization

 

 

 

 

Property and equipment

296

279

619

407

Right-of-use asset

1,614

1,436

3,537

2,418

Intangible assets

67

67

135

135

 

3,319

2,056

6,506

4,124

 

 

 

 

 

EBITDA

4,847

1,750

9,502

5,158

 

 

 

 

 

Share-based compensation

223

166

343

404

Unrealized foreign exchange (gain) loss

(417)

62

(702)

(32)

Loss on disposal of property and equipment

736

736

11

Gain on disposal of right-of-use asset

(266)

(266)

Severance costs

56

283

113

Other

58

58

 

334

284

452

496

 

 

 

 

 

Adjusted EBITDA

5,181

2,034

9,954

5,654

 

 

 

 

 

Cash inflows (outflows) from continuing operations

8,877

(7,060)

10,391

(1,832)

Purchase of property and equipment

(347)

377

(615)

(559)

(Repayment) proceeds of interim production financing

(4,109)

2,913

(4,127)

2,622

Free Cash Flow

4,421

(3,770)

5,649

231

The Company also announced that Director and Founder Tim Gamble has made the decision, with the exceptional executive team now in place and the continued strong financial results, it is an appropriate time for him to step down from the Board to pursue other business interests.

“On behalf of Thunderbird and our Board of Directors, I want to thank Tim Gamble for his visionary leadership throughout the years. Tim always encouraged the entire leadership team to think big, operate with integrity, and to inspire with content that can positively impact our world. We proudly take this vision forward on Thunderbird’s continued journey,” said Twiner McCarron.

Conference Call Webcast on February 25, 2021 at 11 a.m. PT/ 2 p.m. ET

Thunderbird will hold a conference call and webcast to share the Company’s Q2 financial results on February 25, 2021 at 11 a.m. PT/ 2 p.m. ET. The conference call will be webcast live and available for replay via the “Investors” section of the Thunderbird website.

Conference Call and Webcast Access:

Toll-free dial-in number: (833) 900-1530

International dial-in number: (236) 712-2271

Participants joining by phone are requested to call the conference line ten minutes early to avoid wait times while connecting to the call. The conference call will be webcast live and available for replay via the “Investors” section of the Thunderbird website. Investors can access a replay of the teleconference at: (+1) 416-621-4642 or toll-free at (+1) 800-585-8367 three hours after the call’s completion. The Conference ID # is 2556969. The teleconference replay will be available through March 11, 2021.

For information on Thunderbird and to subscribe to the Company’s investor list for news updates, go to www.thunderbird.tv.

ABOUT THUNDERBIRD ENTERTAINMENT GROUP

Thunderbird Entertainment Group is a global award-winning, full-service multiplatform production, distribution and rights management company, headquartered in Vancouver, with additional offices in Los Angeles, Toronto, and Ottawa. Thunderbird creates award-winning scripted, unscripted, and animated programming for the world’s leading digital platforms, as well as Canadian and international broadcasters. Thunderbird’s vision is to produce high quality, socially responsible content that makes the world a better place. The Company develops, produces, and distributes animated, factual, and scripted content through its various divisions, including Thunderbird Kids and Family (Atomic Cartoons), Thunderbird Factual and Scripted (Great Pacific Media). The Company also has a division dedicated to global distribution and consumer products. Thunderbird is on Facebook, Twitter, and Instagram at @tbirdent. For more information, visit: www.thunderbird.tv.

On Behalf of Thunderbird Entertainment Group Inc.

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility of the adequacy or accuracy of this release, which has been prepared by management.

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the Company’s objectives, goals or future plans and the business and operations of the Company. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause 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: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; those additional risks set out in the Company’s Filing Statement and other public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

In addition to the results reported in accordance with IFRS, the Company uses various non-IFRS financial measures which are not recognized under IFRS, as supplemental indicators of our operating performance and financial position. These non-IFRS financial measures are provided to enhance the user’s understanding of our historical and current financial performance and our prospects for the future. Management believes that these measures provide useful information in that they exclude amounts that are not indicative of our core operating results and ongoing operations and provide a more consistent basis for comparison between periods. The following discussion explains the Company’s use of EBITDA, Adjusted EBITDA, and Free Cash Flow as measures of performance.

“EBITDA” is calculated based on earnings before interest, income taxes, depreciation and amortization. “Adjusted EBITDA” is calculated based on EBITDA, asset impairment charges, accretion, share-based compensation, share of loss of associates, unrealized foreign exchange gain/loss and items of an unusual or one-time nature that do not reflect our ongoing operations. EBITDA and Adjusted EBITDA are commonly reported and widely used by investors and lenders as an indicator of a company’s operating performance and ability to incur and service debt, and as a valuation metric. EBITDA and Adjusted EBITDA are not earnings measures recognized by IFRS and therefore do not have a standardized meaning prescribed by IFRS. Therefore, EBITDA and Adjusted EBITDA may not be comparable to similar measures presented by other issuers.

“Free Cash Flow” (“FCF”) is calculated based on cash flows from operations, purchase of property and equipment and net interim production financing. FCF represents the cash a company generates after accounting for cash outflows to support operations and maintain its capital assets.

CONTACT: Investor Relations:

Glen Akselrod, Bristol Capital

Phone: + 1 905.326.1888 ext 1

Email:julia@finchmedia.net

KEYWORD: NORTH AMERICA CANADA

INDUSTRY KEYWORD: OTHER ENTERTAINMENT TV AND RADIO GENERAL ENTERTAINMENT ENTERTAINMENT

SOURCE: Thunderbird Entertainment Group Inc.

Copyright Business Wire 2021.

PUB: 02/24/2021 05:27 PM/DISC: 02/24/2021 05:27 PM

Copyright Business Wire 2021.

BLM in Italian Style marketing campaign exhibits early tangible outcomes | Leisure

The collaboration with the Italian moderat will continue in September when five new designers from Italy’s minorities will be introduced during Fashion Week. And Jean is also creating an event with designers and craftsmen from Africa with the aim of creating partnerships between Italian fashion houses who can learn sustainable production methods in exchange for training in the global fashion system.

“You are talking about sustainability here ad nauseam, and what I see is anything but sustainable, believe me. In the countries I work in, people work 99% sustainably because of need, limitation or desire, ”said Jean.

Jean is also working on a database of African craft techniques, fabrics, motifs, and other cultural references. The Italian-Haitian designer sees the move as a bulwark against cultural appropriation that does not benefit Africans economically, and as a way to prevent it racist gaffes.

Valerie Steele, director of the Museum of the Fashion Institute of Technology, said many of Jean’s ideas could be replicated in the US and elsewhere.

Steele, who has some of Jean’s creations in the collection, taped a conversation with the Italian designer for Black History Month, which will be posted on FIT’s YouTube channel on Thursday to highlight Jean’s role in shaking up Italian fashion.

Tencent Music Leisure Group to Report Fourth Quarter and Full 12 months 2020 Monetary Outcomes on March 22, 2021 Japanese Time | Information

Shenzhen, China, February 22, 2021 / PRNewswire / – Tencent Music Entertainment Group (“Tencent Music”, “TME” or the “Company”) (NYSE: TME), the leading online music entertainment platform in China, announced today that it will publish its unaudited financial results for the fourth quarter and all of 2020 after the US market closed on Monday, March 22, 2021.

Tencent Music’s management will host a conference call on Monday, March 22, 2021 at 8:00 p.m. Eastern Time or on Tuesday, March 23, 2021 at 8:00 a.m. Beijing Time to discuss financial results. Listeners can access the call by dialing the following numbers:

USA Toll Free:

+ 1-888-317-6003

International:

+ 1-412-317-6061

Mainland China Toll Free:

400-120-6115

Hong Kong toll free:

800-963-976

Access code:

6516722

The replay can be accessed until March 29, 2021 by dialing the following numbers:

USA Toll Free:

+ 1-877-344-7529

International:

+ 1-412-317-0088

Access code:

10151724

A live and archived webcast of the conference call will also be available on the company’s Investor Relations website at https://ir.tencentmusic.com/.

About Tencent Music Entertainment

Tencent Music Entertainment Group (NYSE: TME) is the leading online music entertainment platform in China and operates the most popular and innovative music apps in the country: QQ Music, Kugou Music, Kuwo Music and WeSing. Tencent Music’s mission is to use technology to empower music in people’s lives by allowing them to create, enjoy, share and interact with music. Tencent Music’s platform includes online music, online karaoke and music-oriented live streaming services that enable music fans to discover, hear, sing, watch, perform and socialize music.

For more information, please visit ir.tencentmusic.com.

Investor Relations contact

Tencent Music entertainment group

ir@tencentmusic.com

+86 (755) 8601-3388 ext. 883606

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SOURCE Tencent Music entertainment group