On Wednesday, AirMedia Group Inc. (NASDAQ:AMCN)’s shares skyrocketed 38.54%, and closed at $2.84, hitting new 52-week high of $3.70, after a leading operator of out-of-home advertising platforms in China, declared that Beijing Shengshi Lianhe Advertising Co., Ltd., a variable interest entity in China, which it presently controls through contractual arrangements, has reached a share transfer contract to sell 5% equity interest of AirMedia Group Co., Ltd. to Shenzhen Liantronics Co., Ltd, a corporation listed on the Shenzhen Stock Exchange (Shenzhen Stock Exchange Code: 300269) for a consideration of RMB 150 million in cash, which reflected the total valuation of AM Advertising of RMB3 billion.
The payment of the Transaction is predictable to be accomplished within 10 working days of the completion of the share transfer.
“Media companies have been enjoying higher PE multiples and valuation in China’s local stock exchanges. We believe the Transaction is a good way to raise our shareholder value. We have made exciting developments on our transformation into a leading in-flight and on-train Wi-Fi operator in China. We will continue to focus on our transformation, which, we believe, has a brilliant future for the Corporation,” remarked Herman Guo, chairman and chief executive officer of AirMedia.
AirMedia Group Inc. (AMCN) is a leading operator of out-of-home advertising platforms in China targeting mid-to-high-end consumers. AirMedia operates the largest digital media network in China dedicated to air travel advertising. AirMedia operates digital frames in most of the 30 largest airports in China.
Tarena INTERNATIONAL,INC. (NASDAQ:TEDU)’s shares jumped 22.23%, and settled at $11.49, during the last trading session on Wednesday, as on March 25, declared that it has signed a planned partnership contract with Adobe Creative University, the global leader in digital marketing and digital media solutions, and is now an authorized Adobe training and certification partner in China of Adobe Creative University.
Through the partnership with Adobe, Tarena will continue to refine and optimize its digital art course. Following the partnership contract, Adobe will provide Tarena with standardized learning materials, whereas Tarena will launch Adobe certification programs at Tarena’s existing learning centers to improve teaching quality in digital art education.
TARENA INTERNATIONAL,INC., through its auxiliaries, provides information technology (IT) professional education services through part-time and full-time classes in the People’s Republic of China. It offers education courses in nine IT subjects, such as Java, C++, software testing, PHP, embedded, Android, .NET, iOS, and Linux and network engineering; and two non-IT subjects comprising digital art, and online sales and marketing through live distance instruction, classroom-based tutoring, and online learning modules. The corporation was founded in 2002 and is headquartered in Beijing, China.
At the end of Wednesday’s trade, Ocean Power Technologies, Inc. (NASDAQ:OPTT)’s shares climbed 20.87%, and closed at $0.59, after Ocean Power declared that it has successfully accomplished a stage gate review with the Department of Energy (DoE) related to its Power Take-off (PTO) technology that could be used with both small and large scale PowerBuoys. Evaluation criteria for the stage gate review comprised of PTO cost reduction, simplification of the manufacturing process, raised reliability, raised efficiency and overall reduction in PowerBuoy(R) Levelized Cost of Energy (LCOE).
Ocean Power Technologies demonstrated considerable advancements in all of these criteria and presented what it believes to be a practical approach to aggregating the power output of optimized PowerBuoys.
Ocean Power Technologies, Inc. develops and commercializes proprietary systems that generate electricity by harnessing the renewable energy of ocean waves primarily in the United States, Europe, Asia, and Australia. It offers utility scale PowerBuoy system to supply electricity to a local or regional electric power grid; and autonomous PowerBuoy system that is designed to generate power for use independent of the power grid in remote locations.
iDreamSky Technology Limited (NASDAQ:DSKY), ended its Wednesday’s trading session with 20.31% gain, and closed at $8.65, as on March 23, iDreamSky Technology stated unaudited financial results for the fourth quarter of 2014 and fiscal year ended December 31, 2014.
Total proceeds for the fourth quarter of 2014 were RMB328.4 million (US$52.9 million), representing an raise of 190.6% from RMB113.0 million for the fourth quarter of 2013 and an raise of 11.5% from RMB294.5 million for the third quarter of 2014.
The year-over-year and sequential raises in the fourth quarter total proceeds were primarily due to the noteworthy raises in game proceeds as a result of the continued popularity of the Corporation’s existing games, its improved game portfolio and effective monetization strategies.
Cost of proceeds for the fourth quarter was RMB201.7 million (US$32.5 million), representing an raise of 180.4% from RMB71.9 million for the fourth quarter of 2013 and an raise of 17.8% from RMB171.2 million for the third quarter of 2014. Cost of proceeds as a percentage of total proceeds for the fourth quarter of 2014 was 61.4%, contrast with 63.6% for the fourth quarter of 2013 and 58.2% for the third quarter of 2014.
As a result, the Corporation’s gross profit in the fourth quarter of 2014 was RMB126.8 million (US$20.4 million), representing an raise of 208.3% from RMB41.1 million for the fourth quarter of 2013 and an raise of 2.9% from RMB123.2 million for the third quarter of 2014.
iDreamSky Technology Limited, through its auxiliaries, licenses and operates single player mobile games and mobile online games in the People’s Republic of China. The corporation distributes games through in-game cross promotions, self-operated iDreamSky Game Center, and uu.cc Website, in addition to through its proprietary distribution channels and third-party channels, such as app stores and device pre-installations.
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