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Forex news is one of the most important factors in the Forex markets. This is why it is essential for traders to stay up to date on the latest news and developments. There are many sources of Forex news, including online sources, newspapers, magazines, and television. Here are some of the most popular sources for Forex news: 1. Online Forex News Sources: There are many websites that provide up to date Forex news. Some of the most popular sites include ForexLive, Forex Factory, and Forex Daily. These websites offer a range of news and analysis on the Forex markets, as well as a range of tools and resources to help traders make better decisions. 2. Newspapers: Newspapers are another great source of Forex news. Many newspapers have dedicated sections that cover the Forex markets and other financial markets. 3. Magazines: There are also a number of magazines that provide Forex news and analysis. Some of the most well-known magazines include Bloomberg, Wall Street Journal, and Financial Times. 4. Television: Television is also a great source of Forex news. Many news channels such as CNBC, Fox Business, and Bloomberg TV offer regular updates on the Fore
Form 8.3 - Unite Group plc. - ForexTV
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORERule 8.3 of the Takeover Code (the “Code”) 1. KEY INFORMATION (a) Full name of discloser:Jupiter Fund Management Plc(b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named. (c) Name of Offeror in relation to whose relevant securities this form relates: Use a separate form for each offeror/offereeUnite Group plc(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: (e) Date position held: For an opening position disclosure, state the latest practicable date prior to the disclosure5th June 2025(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state “N/A”YesEmpiric Student Property plc 2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security. (a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any) Class of relevant security:25p ordinary InterestsShort positions Number%Number%(1) Relevant securities owned and/or controlled: (2) Cash-settled derivatives: 638,1770.13%(3) Stock-settled derivatives (including options) and agreements to purchase/sell: TOTAL: 638,1770.13% All interests and all short positions should be disclosed. Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions). (b) Rights to subscribe for new securities (including directors’ and other employee options) Class of relevant security in relation to which subscription right exists:None Details, including nature of the rights concerned and relevant percentages:None 3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in. The currency of all prices and other monetary amounts should be stated. (a) Purchases and sales Class of relevant securityPurchase/saleNumber of securitiesPrice per unitN/A (b) Cash-settled derivative transactions Class of relevant securityProduct descriptione.g. CFDNature of dealinge.g. opening/closing a long/short position, increasing/reducing a long/short positionNumber of reference securitiesPrice per unitNONE (c) Stock-settled derivative transactions (including options) (i) Writing, selling, purchasing or varying Class of relevant securityProduct description e.g. call optionWriting, purchasing, selling, varying etc.Number of securities to which option relatesExercise price per unitTypee.g. American, European etc.Expiry dateOption money paid/ received per unitNONE (ii) Exercise Class of relevant securityProduct descriptione.g. call optionExercising/ exercised againstNumber of securitiesExercise price per unitNONE (d) Other dealings (including subscribing for new securities) Class of relevant securityNature of dealinge.g. subscription, conversionDetailsPrice per unit (if applicable)None 4. OTHER INFORMATION (a) Indemnity and other dealing arrangements Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”NONE (b) Agreements, arrangements or understandings relating to options or derivatives Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:(i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:If there are no such agreements, arrangements or understandings, state “none”NONE (c) Attachments Is a Supplemental Form 8 (Open Positions) attached?NO Date of disclosure:6th June 2025Contact name:Claire RodwayTelephone number:0203 817 1441 Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service. The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129. The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.
Vivoryon Therapeutics N.V. Presents Meta-analysis Data of VIVIAD and VIVA-MIND studies at ERA 2025 - ForexTV
Vivoryon Therapeutics N.V. Presents Meta-analysis Data of VIVIAD and VIVA-MIND studies at ERA 2025 Halle (Saale) / Munich, Germany, June 6, 2025 – Vivoryon Therapeutics N.V. (Euronext Amsterdam: VVY; NL00150002Q7) (Vivoryon), a clinical stage company developing small molecule medicines for inflammatory and fibrotic disorders, with a primary focus on kidney diseases, today announced that meta-analysis data for its lead drug in development, varoglutamstat, was presented at the 62nd ERA Congress of the European Renal Association in Vienna, Austria, today, June 6, 2025. “We are delighted that the results of the Phase 2 program were accepted for presentation at the ERA 2025 congress. This allowed Vivoryon to share the outstanding improvements of varoglutamstat on kidney function (eGFR) with the scientific and medical expert community in the kidney space,” said Frank Weber, MD, CEO of Vivoryon. Presentation HighlightsVaroglutamstat is a first-in-class glutaminyl cyclase (QPCT/L) inhibitor with potent anti-inflammatory and anti-fibrotic effects. VIVIAD and VIVA-MIND, two independent Phase 2 studies in the EU and U.S. showed a statistically significant and clinically meaningful improvement in a prospectively defined kidney function parameter, eGFR, in an elderly patient population. This improvement was consistent in both trials independently, replicated in the meta-analysis and pooled analysis, and provides converging evidence for this finding. Statistically significant differences between varoglutamstat and placebo were first observed at week 24 and were sustained until week 96. The meta-analysis also confirmed a substantially larger effect size in study participants with diabetes compared to those without diabetes. The next step is planned to be a dedicated Phase 2b trial in patients with diabetic kidney disease (patients with diabetes and chronic kidney disease stage 3b/4). The main goal will be to investigate the efficacy on eGFR in this patient population and to obtain additional information on a potential effect on proteinuria and other kidney specific markers. Presentation Details Date: June 6, 2025Presentation time: 8:15 am CEST as part of the focused oral sessionTitle: Varoglutamstat improves eGFR and offers a new approach to treat diabetic kidney disease (DKD): meta-analysis from two independent Phase 2 studiesVenue: Vienna, Austria Presenter: Frank Weber, MD, CEO of Vivoryon Therapeutics ### About Vivoryon Therapeutics N.V.Vivoryon is a clinical stage biotechnology company focused on developing innovative small molecule-based medicines for the treatment of inflammatory and fibrotic disorders of the kidney. Driven by its passion for ground-breaking science and innovation, the Company strives to improve patient outcomes by changing the course of severe diseases through modulating the activity and stability of pathologically relevant proteins. Vivoryon’s most advanced program, varoglutamstat, a proprietary, first-in-class orally available QPCT/L inhibitor, is being evaluated to treat diabetic kidney disease. www.vivoryon.com Vivoryon Forward Looking Statements This press release includes forward-looking statements, including, without limitation, those regarding the business strategy, management plans and objectives for future operations of Vivoryon Therapeutics N.V. (the “Company”), estimates and projections with respect to the market for the Company’s products and forecasts and statements as to when the Company’s products may be available. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to the Company are intended to identify such forward-looking statements. These forward-looking statements are not guarantees of future performance; rather they are based on the Management’s current expectations and assumptions about future events and trends, the economy and other future conditions. The forward-looking statements involve a number of known and unknown risks and uncertainties. These risks and uncertainties and other factors could materially adversely affect the outcome and financial effects of the plans and events described herein. The Company’s results of operations, cash needs, financial condition, liquidity, prospects, future transactions, strategies or events may differ materially from those expressed or implied in such forward-looking statements and from expectations. As a result, no undue reliance should be placed on such forward-looking statements. This press release does not contain risk factors. Certain risk factors that may affect the Company’s future financial results are discussed in the published annual financial statements of the Company. This press release, including any forward-looking statements, speaks only as of the date of this press release. The Company does not assume any obligation to update any information or forward-looking statements contained herein, save for any information required to be disclosed by law. For more information, please contact: Investor ContactsVivoryon Therapeutics N.V.Dr. Manuela Bader, Director IR & CommunicationEmail: IR@vivoryon.com LifeSci AdvisorsSandya von der Weid Tel: +41 78 680 05 38Email: svonderweid@lifesciadvisors.com Media ContactTrophic CommunicationsValeria Fisher or Verena SchossmannTel: +49 175 8041816 / +49 151 219 412 77Email: vivoryon@trophic.eu Attachment 20250606_ERA_VVY
Burning Rock Reports First Quarter 2025 Financial Results - ForexTV
GUANGZHOU, China, June 06, 2025 (GLOBE NEWSWIRE) -- Burning Rock Biotech Limited (NASDAQ: BNR, the “Company” or “Burning Rock”), a company focused on the application of next generation sequencing (NGS) technology in the field of precision oncology, today reported financial results for the three months ended March 31, 2025. Recent Business Updates Therapy Selection and MRD Personalized Minimal Residual Disease (MRD) product, CanCatch® Custom supports advancement in oesophageal squamous cell carcinoma（OSCC）treatment, with results published in the Molecular Cancer in May 2025. The study is a two-arm, multicenter, randomized, double-blind phase 2 study, comparing the efficacy of systemic treatment combining nCT with immunotherapy against nCT alone for OSCC patients. The study demonstrates that Perioperative Nivolumab plus chemotherapy is a viable and safe option for systemically treating locally advanced resectable OSCC, and monitoring minimal residual disease through ctDNA could be potentially valuable for assessing the effectiveness of adjuvant therapy and for prognostic evaluation in a systemic manner.Presented study results on non-small cell lung cancer and gastrointestinal stromal tumor (GIST) at the ASCO in June 2025. “Personalized tumor-informed ctDNA has the potential to inform recurrence in high-risk locally advanced stage GIST patients, especially for patients with irregular adjuvant therapy” and “MUSETALK-Lung01 (MUltiomics SEquencing Technique AppLication Kick-start) is a prospective, longitudinal, observational study designed to evaluate the clinical utility of a tumor-naïve ctDNA assay in patients with early-stage non-small cell lung cancer (NSCLC).”Presented multiple study results at the 2025 AACR in April, showcasing the clinical utility of the tumor-informed personalized MRD assay (CanCatch® Custom) and the tumor-naïve methylation-based MRD assay. First Quarter 2025 Financial Results Revenues were RMB133.1 million (US$18.3 million) for the three months ended March 31, 2025, representing a 5.9% increase from RMB125.6 million for the same period in 2024. Revenue generated from central laboratory business was RMB38.3 million (US$5.3 million) for the three months ended March 31, 2025, representing a 19.6% decrease from RMB47.6 million for the same period in 2024, primarily attributable to a decrease in the number of tests, as we continued to focus on our in-hospital business.Revenue generated from in-hospital business was RMB57.7 million (US$7.9 million) for the three months ended March 31, 2025, representing a 0.5% increase from RMB57.4 million for the same period in 2024, driven by a continuous growth in sales volume.Revenue generated from pharma research and development services was RMB37.1 million (US$5.1 million) for the three months ended March 31, 2025, representing a 79.9% increase from RMB20.6 million for the same period in 2024, primarily attributable to increased development and testing services performed for our pharma customers, and several milestones of our pharma programs were achieved. Cost of revenues was RMB35.7 million (US$4.9 million) for the three months ended March 31, 2025, representing a 10.6% decrease from RMB39.9 million for the same period in 2024, primarily due to a decrease in cost of central laboratory business, which was in line with the decrease in revenue generated from this business. Gross profit was RMB97.4 million (US$13.4 million) for the three months ended March 31, 2025, representing a 13.7% increase from RMB85.7 million for the same period in 2024. Gross margin was 73.2% for the three months ended March 31, 2025, compared to 68.2% for the same period in 2024. By channel, gross margin of central laboratory business was 84.1% for the three months ended March 31, 2025, compared to 77.7% during the same period in 2024, primarily due to a reduction in material and labor costs resulted from cost optimization and control measures and a decreased depreciation and rental cost in relation to our laboratory of Guangzhou headquarter; gross margin of in-hospital business was 76.1% for the three months ended March 31, 2025, compared to 68.3% during the same period in 2024, primarily due to the same reason; gross margin of pharma research and development services was 57.5% for the three months ended March 31, 2025, compared to 46.1% during the same period of 2024, primarily due to the cost optimization measures and an increase in test volume of higher margin projects. Non-GAAP gross profit, which excludes depreciation and amortization expenses, RMB100.7 million (US$13.9 million) for the three months ended March 31, 2025, representing an 8.3% increase from RMB93.0 million for the same period in 2024. Non-GAAP gross margin was 75.6% for the three months ended March 31, 2025, compared to 74.0% for the same period in 2024. Operating expenses were RMB112.6 million (US$15.5 million) for the three months ended March 31, 2025, representing a 46.8% decrease from RMB211.5 million for the same period in 2024. The decrease was primarily driven by budget control measures and headcount reduction to improve the Company’s operating efficiency. Research and development expenses were RMB40.4 million (US$5.6 million) for the three months ended March 31, 2025, representing a 38.8% decrease from RMB66.0 million for the same period in 2024, primarily due to (i) a decrease in amortized expense on share-based compensation; (ii) a decrease in the expenditure for detection research and (iii) a decrease in depreciation and amortization.Selling and marketing expenses were RMB40.9 million (US$5.6 million) for the three months ended March 31, 2025, representing a 12.7% decrease from RMB46.9 million for the same period in 2024, primarily due to (i) a decrease in staff cost resulted from the reorganization of our sales department to improve operating efficiency and (ii) a decrease in depreciation and amortization.General and administrative expenses were RMB31.3 million (US$4.3 million) for the three months ended March 31, 2025, representing a 68.3% decrease from RMB98.7 million for the same period in 2024, primarily due to (i) a decrease in amortized expense on share-based compensation; (ii) a decrease in depreciation and amortization; (iii) a decrease in staff cost resulted from the reorganization; and (iv) a decrease in operating lease expense for office building. Net loss was RMB13.5 million (US$1.9 million) for the three months ended March 31, 2025, compared to RMB121.5 million for the same period in 2024. Cash, cash equivalents and restricted cash were RMB497.4 million (US$68.5 million) as of March 31, 2025. Exchange Rate Information This press release contains translations of certain Renminbi amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from Renminbi to U.S. dollars and from U.S. dollars to Renminbi are made at a rate of RMB7.2567 to US$1.00, the exchange rate on March 31, 2025, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the Renminbi or U.S. dollars amounts referred could be converted into U.S. dollars or Renminbi, as the case may be, at any particular rate or at all. About Burning Rock Burning Rock Biotech Limited (NASDAQ: BNR), whose mission is to guard life via science, focuses on the application of next generation sequencing (NGS) technology in the field of precision oncology. Its business consists of i) NGS-based therapy selection testing for late-stage cancer patients, and ii) cancer early detection, which has moved beyond proof-of-concept R&D into the clinical validation stage. For more information about Burning Rock, please visit: ir.brbiotech.com. 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. Burning Rock may also make written or oral forward-looking statements in its periodic reports to the SEC, 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 statements about Burning Rock’s beliefs and expectations, are forward-looking statements. 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 Burning Rock’s control. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. All information provided in this press release is as of the date of this press release, and Burning Rock 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. Non-GAAP Measures In evaluating the business, the Company considers and uses non-GAAP measures, such as non-GAAP gross profit and non-GAAP gross margin, as supplemental measures to review and assess operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The company defines non-GAAP gross profit as gross profit excluding depreciation and amortization. The company defines non-GAAP gross margin as gross margin excluding depreciation and amortization. The company presents these non-GAAP financial measures because they are used by management to evaluate operating performance and formulate business plans. The company believe non-GAAP gross profit and non-GAAP gross margin excluding non-cash impact of depreciation and amortization reflect the company’s ongoing business operations in a manner that allows more meaningful period-to-period comparisons. Contact: IR@brbiotech.com Selected Operating Data As of March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 March 31, 2025In-hospital Channel: Pipeline partner hospitals(1)28 29 30 29 30Contracted partner hospitals(2)59 59 61 63 63Total number of partner hospitals87 88 91 92 93 (1)Refers to hospitals that are in the process of establishing in-hospital laboratories, laboratory equipment procurement or installation, staff training or pilot testing using the Company’s products.(2)Refers to hospitals that have entered into contracts to purchase the Company’s products for use on a recurring basis in their respective in-hospital laboratories the Company helped them establish. Kit revenue is generated from contracted hospitals. Selected Financial Data For the three months endedRevenuesMarch 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 March 31, 2025 (RMB in thousands)Central laboratory channel47,614 48,773 39,984 39,278 38,296In-hospital channel57,387 59,872 63,769 43,464 57,687Pharma research and development channel20,622 26,888 24,891 43,280 37,099Total revenues125,623 135,533 128,644 126,022 133,082 For the three months endedGross profitMarch 31,2024 June 30,2024 September 30,2024 December 31,2024 March 31,2025 (RMB in thousands)Central laboratory channel37,002 38,424 33,262 33,153 32,191In-hospital channel39,192 44,058 46,580 29,563 43,895Pharma research and development channel9,500 12,956 12,004 26,706 21,315Total gross profit85,694 95,438 91,846 89,422 97,401 For the three months endedShare-based compensation expensesMarch 31,2024 June 30,2024 September 30,2024 December 31,2024 March 31,2025 (RMB in thousands)Cost of revenues596 464 289 520 308Research and development expenses12,287 12,008 3,180 3,202 1,800Selling and marketing expenses508 1,232 1,917 1,353 1,025General and administrative expenses55,990 54,407 4,732 2,937 1,413Total share-based compensation expenses69,381 68,111 10,118 8,012 4,546 Burning Rock Biotech Limited Unaudited Condensed Statements of Comprehensive Loss (in thousands, except for number of shares and per share data) For the three months ended March 31,2024 June 30,2024 September 30, 2024 December 31,2024 March 31, 2025 March 31, 2025 RMB RMB RMB RMB RMB US$Revenues125,623 135,533 128,644 126,022 133,082 18,340 Cost of revenues(39,929) (40,095) (36,798) (36,600) (35,681) (4,918)Gross profit85,694 95,438 91,846 89,422 97,401 13,422 Operating expenses: Research and development expenses(65,985) (64,952) (49,150) (52,203) (40,389) (5,566)Selling and marketing expenses(46,856) (48,907) (48,411) (46,730) (40,888) (5,635)General and administrative expenses(98,681) (92,794) (32,874) (37,289) (31,303) (4,314)Impairment loss on long-lived assets (35,127) Total operating expenses(211,522) (206,653) (130,435) (171,349) (112,580) (15,515)Loss from operations(125,828) (111,215) (38,589) (81,927) (15,179) (2,093)Interest income4,038 3,187 3,173 1,814 2,581 356 Other income (expense), net434 (82) 1 4,353 (652) (90)Foreign exchange (loss) gain, net(13) 262 (129) (220) (26) (4)Loss before income tax(121,369) (107,848) (35,544) (75,980) (13,276) (1,831)Income tax expenses(180) (190) (201) (5,314) (224) (31)Net loss(121,549) (108,038) (35,745) (81,294) (13,500) (1,862)Net loss attributable to Burning Rock Biotech Limited’s shareholders(121,549) (108,038) (35,745) (81,294) (13,500) (1,862)Net loss attributable to ordinary shareholders(121,549) (108,038) (35,745) (81,294) (13,500) (1,862)Loss per share for class A and class B ordinary shares: Class A ordinary shares - basic and diluted(1.19) (1.05) (0.35) (0.79) (0.13) (0.02)Class B ordinary shares - basic and diluted(1.19) (1.05) (0.35) (0.79) (0.13) (0.02)Weighted average shares outstanding used in loss per share computation: Class A ordinary shares - basic and diluted85,219,188 85,271,858 85,902,670 86,036,286 90,291,658 90,291,658 Class B ordinary shares - basic and diluted17,324,848 17,324,848 17,324,848 17,324,848 17,324,848 17,324,848 Other comprehensive income (loss), net of tax of nil: Foreign currency translation adjustments590 940 (4,054) 6,009 (72) (10)Total comprehensive loss(120,959) (107,098) (39,799) (75,285) (13,572) (1,872)Total comprehensive loss attributable to Burning Rock Biotech Limited’s shareholders(120,959) (107,098) (39,799) (75,285) (13,572) (1,872) Burning Rock Biotech LimitedUnaudited Condensed Consolidated Balance Sheets(In thousands) As of December 31, 2024 March 31,2025 March 31,2025 RMB RMB US$ASSETS Current assets: Cash and cash equivalents519,849 495,145 68,233Restricted cash2,313 2,261 312Accounts receivable, net152,013 159,463 21,974Contract assets, net13,855 17,178 2,367Inventories, net62,625 65,424 9,016Prepayments and other current assets, net25,963 22,072 3,042Total current assets776,618 761,543 104,944Non-current assets: Property and equipment, net47,152 41,162 5,672Operating right-of-use assets53,188 43,804 6,036Intangible assets, net421 386 53Other non-current assets7,926 7,822 1,078Total non-current assets108,687 93,174 12,839TOTAL ASSETS885,305 854,717 117,783 Burning Rock Biotech LimitedUnaudited Condensed Consolidated Balance Sheets (Continued)(in thousands) As of December 31,2024 March 31,2025 March 31,2025 RMB RMB US$LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable33,747 35,938 4,952 Deferred revenue117,895 117,200 16,151 Accrued liabilities and other current liabilities89,498 76,198 10,501 Customer deposits592 592 82 Current portion of operating lease liabilities24,567 22,524 3,104 Total current liabilities266,299 252,452 34,790 Non-current liabilities: Non-current portion of operating lease liabilities27,754 19,814 2,730 Other non-current liabilities10,425 10,649 1,467 Total non-current liabilities38,179 30,463 4,197 TOTAL LIABILITIES304,478 282,915 38,987 Shareholders’ equity: Class A ordinary shares124 124 17 Class B ordinary shares21 21 3 Additional paid-in capital5,002,255 5,005,991 689,844 Treasury stock(63,264) (62,453) (8,606)Accumulated deficits(4,200,261) (4,213,761) (580,672)Accumulated other comprehensive loss(158,048) (158,120) (21,790)Total shareholders’ equity580,827 571,802 78,796 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY885,305 854,717 117,783 Burning Rock Biotech LimitedUnaudited Condensed Statements of Cash Flows(in thousands) For the three months ended March 31,2024 March 31,2025 March 31,2025 RMB RMB US$Net cash generated from (used in) operating activities19,062 (23,527) (3,242)Net cash used in investing activities(812) (1,531) (211)Net cash used in financing activities(74) - - Effect of exchange rate on cash, cash equivalents and restricted cash5,739 302 43 Net increase in (decrease) cash, cash equivalents and restricted cash23,915 (24,756) (3,410)Cash, cash equivalents and restricted cash at the beginning of period498,247 522,162 71,955 Cash, cash equivalents and restricted cash at the end of period522,162 497,406 68,545 Burning Rock Biotech LimitedReconciliations of GAAP and Non-GAAP Results For the three months ended March 31,2024 June 30,2024 September 30,2024 December 31,2024 March 31,2025 (RMB in thousands)Gross profit: Central laboratory channel37,002 38,424 33,262 33,153 32,191In-hospital channel39,192 44,058 46,580 29,563 43,895Pharma research and development channel9,500 12,956 12,004 26,706 21,315Total gross profit85,694 95,438 91,846 89,422 97,401Add: depreciation and amortization: Central laboratory channel1,919 1,226 1,277 1,010 562In-hospital channel1,524 824 798 623 290Pharma research and development channel3,856 4,417 3,846 2,534 2,412Total depreciation and amortization included in cost of revenues7,299 6,467 5,921 4,167 3,264Non-GAAP gross profit： Central laboratory channel38,921 39,650 34,539 34,163 32,753In-hospital channel40,716 44,882 47,378 30,186 44,185Pharma research and development channel13,356 17,373 15,850 29,240 23,727Total non-GAAP gross profit92,993 101,905 97,767 93,589 100,665Non-GAAP gross margin： Central laboratory channel81.7% 81.3% 86.4% 87.0% 85.5%In-hospital channel70.9% 75.0% 74.3% 69.5% 76.6%Pharma research and development channel64.8% 64.6% 63.7% 67.6% 64.0%Total non-GAAP gross margin74.0% 75.2% 76.0% 74.3% 75.6%
Another Year of Romance, with a Dark Twist, Circana BookScan Reports - ForexTV
Heightened interest in dark romance aligns with other growing segments in adult fiction including horror, psychological thrillers, and dark fantasyCHICAGO, IL, June 06, 2025 (GLOBE NEWSWIRE) -- The market for romance books has been growing since 2021 and remains hot, according to Circana, LLC. In the U.S., year-to-date print sales for romance books are up 24%, versus the same period last year. The volume for romance books has more than doubled compared to four years ago, with 51 million units sold in the past 12 months. Circana BookScan data reveals that romance stands out among the adult fiction subjects showing the most growth in 2025. In fact, romance is the leading growth category for the total print book market thus far in 2025. Fastest growing romance subjects include romantasy and sports romance, each experiencing triple-digit growth, as well as suspense romance and contemporary romance. Romance readers are particularly desirable for the book industry. According to the latest findings from Circana’s Future of™ Books study, 26% of romance book buyers report that they are reading “much more” compared to a year ago – a behavior that is contributing to the growth for romance book sales. While Rebecca Yarros’ latest release Onyx Storm – the fastest selling adult title in its opening week, in the 20-year history of BookScan – is a key factor in the romance sales growth, a lot of activity is happening beyond one major author. Even when excluding Yarros from the romance market, the category is still showing double-digit growth. H.D. Carlton, Rina Kent, and Elsie Silver are among the top growing romance authors this year. One key similarity among them is that their stories explore dark romance, including paranormal and anti-hero themes. A desire for dark subjects is surfacing within the romance book market. This trend aligns with other growing segments in adult fiction including psychological thrillers (+29%), dark fantasy (+23%), and horror (+13%). “This year, I am watching a shift away from rosier romance subjects like romantic comedy and new adult romance in favor of authors and titles with darker themes,” said Brenna Connor, U.S. books industry analyst at Circana. “Combined with the growth in other more intense fiction subjects like horror and dystopian, a new trend has emerged that’s marked by darker escapist themes. These subject matters provide an outlet for readers to safely explore negative emotions such as sadness, anger, or anxiety – allowing them to feel connected and perhaps even comforted. I expect to see continued interest in these darker subjects in the year ahead.” About Circana Circana is a leader in providing technology, AI, and data to fast-moving consumer packaged goods companies, durables manufacturers, and retailers seeking to optimize their businesses. Circana’s predictive analytics and technology empower clients to measure their market share, understand the underlying consumer behavior driving it, and accelerate their growth. Circana’s Liquid Data® technology platform is powered by an expansive, high-quality data set, and intelligent algorithms trained on six decades of domain expertise. With Circana, clients can take immediate action to future-proof and evolve their growth strategies amid an increasingly complex, fast-paced, and ever-changing economy. CONTACT: Marissa Guyduy Circana +1 312-731-1782 marissa.guyduy@circana.com
Form 8.3 - Empiric Student Property Plc - ForexTV
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORERule 8.3 of the Takeover Code (the “Code”) 1. KEY INFORMATION (a) Full name of discloser:Jupiter Fund Management Plc(b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named. (c) Name of Offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offereeEmpiric Student Property plc(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: (e) Date position held: For an opening position disclosure, state the latest practicable date prior to the disclosure5th June 2025(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state “N/A”YesUnite Group plc 2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security. (a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any) Class of relevant security:5p ordinary InterestsShort positions Number%Number%(1) Relevant securities owned and/or controlled:32,659,7574.91% (2) Cash-settled derivatives: (3) Stock-settled derivatives (including options) and agreements to purchase/sell: TOTAL:32,659,7574.91% All interests and all short positions should be disclosed. Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions). (b) Rights to subscribe for new securities (including directors’ and other employee options) Class of relevant security in relation to which subscription right exists:None Details, including nature of the rights concerned and relevant percentages:None 3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in. The currency of all prices and other monetary amounts should be stated. (a) Purchases and sales Class of relevant securityPurchase/saleNumber of securitiesPrice per unitN/A (b) Cash-settled derivative transactions Class of relevant securityProduct descriptione.g. CFDNature of dealinge.g. opening/closing a long/short position, increasing/reducing a long/short positionNumber of reference securitiesPrice per unitNONE (c) Stock-settled derivative transactions (including options) (i) Writing, selling, purchasing or varying Class of relevant securityProduct description e.g. call optionWriting, purchasing, selling, varying etc.Number of securities to which option relatesExercise price per unitTypee.g. American, European etc.Expiry dateOption money paid/ received per unitNONE (ii) Exercise Class of relevant securityProduct descriptione.g. call optionExercising/ exercised againstNumber of securitiesExercise price per unitNONE (d) Other dealings (including subscribing for new securities) Class of relevant securityNature of dealinge.g. subscription, conversionDetailsPrice per unit (if applicable)None 4. OTHER INFORMATION (a) Indemnity and other dealing arrangements Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”NONE (b) Agreements, arrangements or understandings relating to options or derivatives Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:(i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:If there are no such agreements, arrangements or understandings, state “none”NONE (c) Attachments Is a Supplemental Form 8 (Open Positions) attached?NO Date of disclosure:6th June 2025Contact name:Claire RodwayTelephone number:0203 817 1441 Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service. The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129. The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.
QuantaSing Announces Unaudited Financial Results for the Third Quarter of Fiscal Year 2025 - ForexTV
BEIJING, June 06, 2025 (GLOBE NEWSWIRE) -- QuantaSing Group Limited (NASDAQ: QSG) (“QuantaSing” or the “Company”), a leading lifestyle solution provider, today announced its unaudited financial results for the third quarter of the fiscal year ending June 30, 2025 (the “third quarter of FY 2025”, which refers to the quarter from January 1, 2025 to March 31, 2025). Business and Financial Highlights for the Third Quarter of FY 2025 Revenues for the third quarter of FY 2025 were RMB570.7 million (US$78.6 million), representing a decrease of 21.5% from the second quarter of the fiscal year ending June 30, 2025 (the “second quarter of FY 2025”) and a decrease of 39.6% from the third quarter of the fiscal year ended June 30, 2024 (the “third quarter of FY 2024”).Gross billings of individual online learning services1 for the third quarter of FY 2025 were RMB515.6 million (US$71.0 million), representing a decrease of 5.6% from the second quarter of FY 2025 and a decrease of 47.5% from the third quarter of FY 2024.Net income for the third quarter of FY 2025 was RMB41.1 million (US$5.7 million), representing a decrease of 67.5% from the second quarter of FY 2025 and an increase of 181.2% from the third quarter of FY 2024.Adjusted net income2 for the third quarter of FY 2025 was RMB37.8 million (US$5.2 million), representing a decrease of 71.3% from the second quarter of FY 2025 and an increase of 18.5% from the third quarter of FY 2024.Total registered users increased by 19.9% to approximately 145.0 million as of March 31, 2025, from 121.0 million as of March 31, 2024.Paying learners was approximately 0.3 million in the third quarter of FY 2025. Company Highlight for the Third Quarter of FY 2025 Completed acquisition of 61% equity interest in Shenzhen Yiqi Culture Co., Ltd. ("Letsvan") on March 31, 2025 for a total cash consideration of RMB235.0 million through a multi-step transaction. Results of operations of Letsvan were included in consolidated financials of the Company beginning April 1, 2025. The acquired assets and liabilities of Letsvan are included at fair value in the Company’s consolidated balance sheet as of March 31, 2025. Mr. Peng Li, Chairman and Chief Executive Officer of QuantaSing, commented, “Our third quarter results reflect our strategic pivot toward product-driven business models that create long-term value. The acquisition of Letsvan marks a significant milestone in our expansion into the pop toys market, a sector with strong growth potential that perfectly aligns with our brand-first philosophy. The early success of our WAKUKU IP, including the recent Fox and Rabbit collection launch, validates our approach of pairing strong product development capabilities with efficient go-to-market strategies. As we integrate Letsvan's operations, we're applying our test-and-scale methodology to build a global presence in this resilient market segment. We aim to create businesses where brand strength and product excellence drive sustainable growth, rather than simply pursuing traffic-driven metrics.” Mr. Dong Xie, Chief Financial Officer of QuantaSing, added, “Our financial performance this quarter underscores our commitment to disciplined capital allocation during this transformation phase. While revenue moderated to RMB570.7 million as we shifted resources away from traffic-driven businesses, we've maintained strong cash generation across our businesses. Our ROI-focused assessment methodology has allowed us to exit underperforming areas while preserving resources for high-potential opportunities. With our healthy cash position, we have the flexibility to support both our existing operations and our strategic initiatives in the pop toys space. Though we anticipate some near-term profitability fluctuations as we optimize our business mix, our financial foundation remains robust as we execute this strategic evolution.” Financial Results for the Third Quarter of FY 2025 Revenues Revenues were RMB570.7 million (US$78.6 million) in the third quarter of FY 2025, compared to RMB945.6 million in the third quarter of FY 2024. The change reflects the Company's deliberate shift from traffic-driven growth to high-quality growth. Revenues from individual online learning services decreased by 43.6% year over year to RMB467.2 million (US$64.4 million) in the third quarter of FY 2025, from RMB828.1 million in the third quarter of FY 2024. This decrease was primarily due to a decrease of RMB268.3 million (US$37.0 million) in revenues from skills upgrading courses, a decline of RMB74.1 million (US$10.2 million) in revenues from financial literacy courses and a decline of RMB18.5 million (US$2.5 million) in revenues from recreation and leisure courses.Revenues from enterprise services were RMB48.1 million (US$6.6 million) in the third quarter of FY 2025, compared to RMB65.1 million in the third quarter of FY 2024, representing a year-over-year change of 26.1%. The decline was primarily driven by reduced marketing services to enterprise customers.Revenues from consumer business3 were RMB48.7 million (US$6.7 million) in the third quarter of FY 2025, compared to RMB49.4 million in the third quarter of FY 2024. The slight change was primarily attributable to the decline in baijiu revenue, partially offset by the modest increase in wellness products revenue.Revenues from others3 were RMB6.7 million (US$0.9 million) in the third quarter of FY 2025, compared to RMB3.0 million in the third quarter of FY 2024, primarily due to revenue from the Company’s newly initiated business. Cost of revenues Cost of revenues was RMB96.6 million (US$13.3 million) in the third quarter of FY 2025, compared to RMB145.8 million in the third quarter of FY 2024, representing a 33.8% decrease. The decrease was primarily due to reduced labor outsourcing costs of RMB22.1 million (US$3.1 million), decreased procurement costs of RMB9.6 million (US$1.3 million) and lower staff costs of RMB5.1 million (US$0.7 million). Sales and marketing expenses Sales and marketing expenses were RMB395.2 million (US$54.5 million) in the third quarter of FY 2025, compared to RMB729.6 million in the third quarter of FY 2024, representing a decrease of 45.8%. The decrease was mainly due to a reduction in marketing and promotion expenses of RMB265.1 million (US$36.5 million), labor outsourcing costs of RMB46.4 million (US$6.4 million), and staff costs of RMB7.9 million (US$1.1 million), which included a decrease in share-based compensation expenses of RMB2.1 million (US$0.3 million). Research and development expenses Research and development expenses were RMB20.9 million (US$2.9 million) in the third quarter of FY 2025, compared to RMB38.8 million in the third quarter of FY 2024, representing a decrease of 46.2%. The decrease was primarily due to lower staff costs of RMB16.0 million (US$2.2 million). General and administrative expenses General and administrative expenses were RMB25.0 million (US$3.5 million) in the third quarter of FY 2025, compared to RMB36.4 million in the third quarter of FY 2024, representing a decrease of 31.2%. The decrease was primarily due to lower staff costs of RMB8.0 million (US$1.1 million), which included a decrease in share-based compensation expenses of RMB5.5 million (US$0.8 million). Remeasurement gain of previously held equity interests in connection with step acquisitions Remeasurement gain of previously held equity interests in connection with step acquisitions were RMB8.1 million (US$1.1 million) in the third quarter of FY 2025, reflecting the fair value adjustment of initial investments in Letsvan before obtaining control. Details of the acquisition can be found in the Recent Developments section of this report. Others, net Others, net were RMB15.4 million (US$2.1 million) in the third quarter of FY 2025, compared to RMB7.7 million in the third quarter of FY 2024, primarily driven by the increased fair value gains in one of the Company’s long-term investments. Net income and adjusted net income Net income was RMB41.1 million (US$5.7 million) in the third quarter of FY 2025, compared to RMB14.6 million in the third quarter of FY 2024. Adjusted net income was RMB37.8 million (US$5.2 million) in the third quarter of FY 2025, compared to RMB31.9 million in the third quarter of FY 2024. Earnings per share and adjusted earnings per share4 Basic and diluted net income per share were both RMB0.25 (US$0.03) in the third quarter of FY 2025, compared to basic and diluted net income per share of RMB0.09 in the third quarter of FY 2024. Basic and diluted adjusted net income per share were RMB0.23 (US$0.03), in the third quarter of FY 2025, compared to RMB0.19 in the third quarter of FY 2024. Balance Sheet As of March 31, 2025, the Company had cash and cash equivalents, restricted cash and short-term investments of RMB1,134.9 million (US$156.4 million), compared with RMB1,026.3 million as of June 30, 2024. Recent Developments Investments in Letsvan On March 24, 2025, the Company announced that it entered into definitive agreements to invest in Shenzhen Yiqi Culture Co., Ltd., a PRC-based company specializing in IP incubation, copyright commercialization, and the promotion and sales of pop toys. The transaction marks the Company's strategic entry into the pop toys market and broader consumer goods sector. Upon the completion of the investments in March 2025, Letsvan became a controlled subsidiary of the Company. Letsvan currently operates a number of established IPs, including "WAKUKU", "ZIYULI", "FUNII", "FIILA" and "PIDOL", with distribution channels spanning both online and offline platforms across China and Southeast Asian markets. Letsvan’s current growth strategy encompasses three key areas: strengthening collaborations with major retail partners to enhance IP influence and expand sales, developing self-operated retail locations including a recently opened pop-up store at Chaoyang Joy City in Beijing, and building comprehensive online brand and sales capabilities. International expansion initiatives are underway. Letsvan has already established its footprints in certain Southeast Asian markets and has been exploring opportunities in other overseas markets including the United States. With respect to IPs, Letsvan continues to strengthen internal product incubation and operational capabilities, partner with third-party artists, and collaborate with established IPs to diversify its product portfolio. Recent product launches include the "WAKUKU Fox and Bunny Trick or Treat", which commenced offline distribution on May 17, 2025, followed by online channel availability on May 20, 2025. The Beijing Chaoyang Joy City pop-up store launch has generated favorable user response and increased product visibility in the market. 2024 Share Repurchase Program On June 11, 2024, the Company announced that the Board had approved a share repurchase program of up to US$20.0 million of the Company’s Class A ordinary shares in the form of ADSs for a 12-month period beginning on June 11, 2024 and ending on June 10, 2025 (the “2024 Share Repurchase Program”). As of March 31, 2025, a total of 1.7 million ADSs had been repurchased for an aggregate consideration of US$3.6 million under the 2024 Share Repurchase Program. 2025 Share Repurchase Program On June 6, 2025, the Company announced that the Board had approved a new share repurchase program of up to US$20.0 million of the Company’s Class A ordinary shares in the form of ADSs for a purchase period beginning from June 11, 2025 and ending on June 30, 2026 (the “2025 Share Repurchase Program”). Repurchases under the 2025 Share Repurchase Program may be made from time to time through open market transactions at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means. The repurchases will be subject to all applicable rules and regulations, including Rule 10b-18 and Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, as well as the Company’s insider trading policy. The number of ADSs repurchased and the timing of repurchases will also depend on a number of factors, including, but not limited to, price, trading volume and general market conditions, along with the Company’s working capital requirements, general business conditions and other factors. The Board will review the 2025 Share Repurchase Program periodically, and may authorize adjustment of its terms and size or suspend or discontinue the program. The Company plans to fund the repurchases from its existing cash balance. Conference Call Information The Company's management team will hold an earnings conference call at 07:00 A.M. Eastern Time on Friday, June 6, 2025 (07:00 P.M. Beijing Time on the same day) to discuss the financial results. Listeners may access the call by dialing the following numbers: International: 1-412-902-4272United States Toll Free: 1-888-346-8982Mainland China Toll Free: 4001-201203Hong Kong Toll Free: 800-905945Conference ID: QuantaSing Group Limited The replay will be accessible through June 13, 2025 by dialing the following numbers: International: 1-412-317-0088United States Toll Free: 1-877-344-7529Replay Access Code: 3611954 A live and archived webcast of the conference call will be available at the Company's investor relations website at https://ir.quantasing.com. Non-GAAP Financial Measures To supplement the Company’s consolidated financial statements, which are prepared and presented in accordance with U.S. GAAP, the Company uses gross billings of individual online learning services, adjusted net income and basic and diluted adjusted net income per share as its non-GAAP financial measures. Gross billings of individual online learning services for a specific period represents revenues of the Company’s individual online learning services net of the changes in deferred revenues in such period, further adjusted by value-added tax in such period. Adjusted net income represents net income excluding share-based compensation expenses and remeasurement gain of previously held equity interests inconnection with step acquisitions. Basic and diluted adjusted net income per share represents adjusted net income attributable to QuantaSing Group Limited divided by weighted average number of ordinary shares outstanding during the periods used in computing adjusted net income per share, basic and diluted. The Company believes that the non-GAAP financial measures provide useful information about the Company's results of operations, enhance the overall understanding of the Company's past performance and future prospects and allow for greater visibility with respect to key metrics used by the Company's management in its 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, and when assessing the Company's operating performance, investors should not consider them in isolation, or as a substitute for revenue, net income, net income per share, basic and diluted or other consolidated statements of operations data prepared in accordance with U.S. GAAP. The Company's definition of non-GAAP financial measures may differ from those of industry peers and may not be comparable with their non-GAAP financial measures. The Company mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company's performance. For more information on these non-GAAP financial measures, please see the table captioned “QuantaSing Group Limited Unaudited Reconciliation of GAAP and Non-GAAP Results” near the end of this release. Exchange Rate Information This announcement contains translations of certain Renminbi (“RMB”) amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from Renminbi to U.S. dollars were made at the rate of RMB7.2567 to US$1.00, the exchange rate on March 31, 2025, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the Renminbi or U.S. dollars amounts referred to could be converted into U.S. dollars or Renminbi, as the case may be, at any particular rate or at all. Safe Harbor Statements This announcement contains forward-looking statements within the meaning of Section 27A of Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1955. All statements other than statements of historical or current fact included in this press release are forward-looking statements, including but not limited to statements regarding QuantaSing’s financial outlook, beliefs and expectations. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets,” “guidance” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), 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. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s growth strategies; its future business development, results of operations and financial condition; its ability to attract and retain new users and learners and to increase the spending and revenues generated from users and learners; its ability to maintain and enhance the recognition and reputation of its brand; its expectations regarding demand for and market acceptance of its services and products; the expected growth, trends and competition in the markets that the Company operates in; changes in its revenues and certain cost or expense items; PRC governmental policies and regulations relating to the Company’s business and industry, general economic and political conditions in China and globally, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties, or factors is included in the Company’s filings with the SEC, including, without limitation, the final prospectus related to the IPO filed with the SEC dated January 24, 2023. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof. About QuantaSing Group Limited QuantaSing is a leading lifestyle solution provider that offers engaging, affordable and accessible online and offline services, as well as consumer products in selected areas that address senior users' wellness aspirations. QuantaSing has expanded into the pop toys sector and continues to strategically diversify its portfolio by capturing opportunities in promising consumer sectors while maintaining financial discipline. For more information, please visit: https://ir.quantasing.com. Contact Investor RelationsLeah GuoQuantaSing Group LimitedEmail: ir@quantasing.comTel: +86 (10) 6493-7857 Robin Yang, PartnerICR, LLCEmail: QuantaSing.IR@icrinc.comPhone: +1 (212) 537-0429 _________________________________1 Gross billings of individual online learning services is a non-GAAP financial measure. For a reconciliation of revenues of individual online learning services to gross billings of individual online learning services, see the “Non-GAAP Financial Measures” section and the table captioned “QuantaSing Group Limited Unaudited Reconciliation of GAAP and Non-GAAP Results” below.2 Adjusted net income is a non-GAAP financial measure. For a reconciliation of net income to adjusted net income, see the “Non-GAAP Financial Measures” section and the table captioned “QuantaSing Group Limited Unaudited Reconciliation of GAAP and Non-GAAP Results” below.3 Effective from the fourth quarter of FY 2024, the Company has introduced “Revenues from Consumer Business” as a separate line item. This revenue was previously included in “Revenues from Others”. The historical revenues presentation has been conformed to the current presentation.4 Basic and diluted adjusted net income per share are non-GAAP financial measures. For a reconciliation of basic and diluted net income per share to basic and diluted adjusted net income per share, see the “Non-GAAP Financial Measures” section and the table captioned “QuantaSing Group Limited Unaudited Reconciliation of GAAP and Non-GAAP Results” below. QUANTASING GROUP LIMITEDUNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS(Amounts in thousands, except for share and per share data) As of June 30,2024 March 31,2025 March 31,2025 RMB RMB US$ ASSETS Current assets: Cash and cash equivalents779,931 985,677 135,830Restricted cash160 675 93Short-term investments246,195 148,532 20,468Accounts receivable, net16,676 37,392 5,153Amounts due from related parties4,488 489 67Inventory, net6,345 28,120 3,875Prepayments and other current assets275,549 173,582 23,920Total current assets1,329,344 1,374,467 189,406 Non-current assets: Property and equipment, net6,569 11,571 1,595Long-term investments9,010 44,428 6,122Intangible assets, net- 68,973 9,505Operating lease right-of-use assets58,889 29,479 4,062Deferred tax assets847 914 126Goodwill- 187,598 25,852Other non-current assets21,360 5,177 713Total non-current assets96,675 348,140 47,975TOTAL ASSETS1,426,019 1,722,607 237,381 LIABILITIES Current liabilities: Short-term Borrowings- 14,500 1,998Accounts payables62,066 55,219 7,609Accrued expenses and other current liabilities190,508 186,084 25,643Income tax payable20,399 53,565 7,381Contract liabilities, current portion385,227 310,189 42,745Advance from customers162,257 148,332 20,441Operating lease liabilities, current portion49,099 30,837 4,249Total current liabilities869,556 798,726 110,066 Non-current liabilities: Contract liabilities, non-current portion11,365 33,495 4,616Operating lease liabilities, non-current portion16,989 3,123 430Deferred tax liabilities11,625 42,269 5,825Total non-current liabilities39,979 78,887 10,871TOTAL LIABILITIES909,535 877,613 120,937 QUANTASING GROUP LIMITEDUNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS- continued(Amounts in thousands, except for share and per share data) As of June 30,2024 March 31,2025 March 31,2025 RMB RMB US$ MEZZANINE EQUITY Non-controlling interests with liquidation preferences- 40,999 5,650 SHAREHOLDERS’ EQUITY Class A ordinary shares81 81 11 Class B ordinary shares34 34 5 Treasury stock(109,257) (41,898) (5,774)Additional paid-in capital1,192,474 1,069,620 147,398 Accumulated other comprehensive income17,313 18,491 2,548 Accumulative deficit(584,161) (335,573) (46,243)TOTAL QUANTASING GROUP LIMITED SHAREHOLDERS’ EQUITY516,484 710,755 97,945 Non-controlling interests- 93,240 12,849 TOTAL SHAREHOLDERS’ EQUITY516,484 803,995 110,794 TOTAL LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ EQUITY1,426,019 1,722,607 237,381 QUANTASING GROUP LIMITEDUNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME(Amounts in thousands, except for shares and per share data) For the Three MonthsEnded March 31, For the Nine MonthsEnded March 31, 2024 2025 2025 2024 2025 2025 RMB RMB US$ RMB RMB US$ Revenues945,570 570,706 78,645 2,795,248 2,107,757 290,457 Cost of revenues(145,848) (96,556) (13,306) (409,058) (353,516) (48,716) Gross Profit799,722 474,150 65,339 2,386,190 1,754,241 241,741 Operating expenses: Sales and marketing expenses(729,620) (395,175) (54,457) (2,006,884) (1,317,206) (181,516)Research and development expenses(38,840) (20,891) (2,879) (123,655) (77,325) (10,656)General and administrative expenses(36,390) (25,049) (3,452) (114,211) (86,194) (11,878)Total operating expenses(804,850) (441,115) (60,788) (2,244,750) (1,480,725) (204,050) (Loss)/Income from operations(5,128) 33,035 4,551 141,440 273,516 37,691 Other income: Interest income2,513 880 121 8,369 4,040 557 Remeasurement gain of previously held equity interests in connection with step acquisitions- 8,109 1,117 - 8,109 1,117 Others, net7,685 15,400 2,122 22,163 31,418 4,330 Income before income tax5,070 57,424 7,911 171,972 317,083 43,695 Income tax benefit/(expense)9,560 (16,280) (2,243) 16,948 (68,495) (9,439) Net income14,630 41,144 5,668 188,920 248,588 34,256 Net loss attributable to noncontrolling interests- 1 - - 1 - Net income attributable to QuantaSing Group Limited14,630 41,145 5,668 188,920 248,589 34,256 Other comprehensive income/(loss) Foreign currency translation adjustments, net of nil tax423 (289) (40) (4,954) 1,178 162 Total other comprehensive income/(loss)423 (289) (40) (4,954) 1,178 162 Total comprehensive income15,053 40,855 5,628 183,966 249,766 34,418 Total comprehensive loss attributable to noncontrolling interests- 1 - - 1 - Comprehensive income attributable to QuantaSing Group Limited15,053 40,856 5,628 183,966 249,767 34,418 Net income per ordinary share - Basic0.09 0.25 0.03 1.14 1.55 0.21 - Diluted0.09 0.25 0.03 1.10 1.52 0.21 Weighted average number of ordinary shares used in computing net income per share - Basic164,753,256 162,791,862 162,791,862 166,399,349 160,479,027 160,479,027 - Diluted170,890,581 165,216,173 165,216,173 171,089,530 163,949,787 163,949,787 Share-based compensation expenses included in Cost of revenues(2,878) (1,431) (197) (9,945) (5,214) (719)Sales and marketing expenses(2,779) (642) (88) 8,678 (1,540) (212)Research and development expenses(3,599) (167) (23) (10,611) (2,474) (341)General and administrative expenses(8,039) (2,571) (354) (28,961) (8,073) (1,112) QUANTASING GROUP LIMITEDUNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS(Amounts in thousands, except for shares and per share data) The following table below sets forth a reconciliation of revenues to gross billings for the periods indicated: For the Three MonthsEnded March 31, For the Nine MonthsEnded March 31, 2024 2025 2025 2024 2025 2025 RMB RMB US$ RMB RMB US$ Revenues of individual online learning services:828,127 467,247 64,388 2,457,588 1,777,552 244,953 Add: value-added tax52,986 27,919 3,847 147,665 101,969 14,052 Add: ending deferred revenues(1)744,320 461,026 63,531 744,320 461,026 63,531 Less: beginning deferred revenues(1)(643,929) (440,632) (60,721) (661,360) (565,030) (77,863) Gross billings of individual online learning services981,504 515,560 71,045 2,688,213 1,775,517 244,673 (1) Deferred revenues include contract liabilities, advance from customers, and refund liability of individual online learning services included in “accrued expenses and other current liabilities”. QUANTASING GROUP LIMITEDUNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS - continued(Amounts in thousands, except for shares and per share data) The following table below sets forth a reconciliation of net income to adjusted net income and basic and diluted net income per share to basic and diluted adjusted net income per share for the periods indicated: For the Three MonthsEnded March 31, For Nine MonthsEnded March 31, 2024 2025 2025 2024 2025 2025 RMB RMB US$ RMB RMB US$ Net income14,630 41,144 5,668 188,920 248,588 34,256 Add: Share-based compensation expenses17,295 4,811 662 40,839 17,301 2,384 Less: Remeasurement gain of previously held equity interests in connection with step acquisitions- (8,109) (1,117) - (8,109) (1,117) Adjusted net income31,925 37,846 5,213 229,759 257,780 35,523 Attributable to noncontrolling interests- 1 - - 1 - Adjusted net income attributable to QuantaSing Group Limited31,925 37,847 5,213 229,759 257,781 35,523 Weighted average number of ordinary shares used in computing net income per share - Basic164,753,256 162,791,862 162,791,862 166,399,349 160,479,027 160,479,027 - Diluted170,890,581 165,216,173 165,216,173 171,089,530 163,949,787 163,949,787 Weighted average number of ordinary shares used in computing adjusted net income per share - Basic164,753,256 162,791,862 162,791,862 166,399,349 160,479,027 160,479,027 - Diluted170,890,581 165,216,173 165,216,173 171,089,530 163,949,787 163,949,787 Net income per ordinary share - Basic0.09 0.25 0.03 1.14 1.55 0.21 - Diluted0.09 0.25 0.03 1.10 1.52 0.21 Non-GAAP adjustments to net income per ordinary share - Basic0.10 (0.02) 0.00 0.24 0.06 0.01 - Diluted0.10 (0.02) 0.00 0.24 0.05 0.01 Adjusted net income per ordinary share - Basic0.19 0.23 0.03 1.38 1.61 0.22 - Diluted0.19 0.23 0.03 1.34 1.57 0.22
ECB Cuts Rates. EUR/USD Spikes to 1.5-Month High | Market Pulse
Yesterday, as widely expected, the European Central Bank (ECB) cut interest rates for the eighth time since May 2024. According to ForexFactory, the main refinancing rate was lowered from 2.40% to 2.15% (having stood at 4.50% in May 2024). According to Reuters: → ECB President Christine Lagarde stated