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The Manba One is a wireless controller with an inbuilt screen for accessing the various tweaks available to tailor the gaming experience to your preferences. Its design mimics the Xbox Wireless Controller, although the white variant features a removable transparent front cover that reveals some of the inner workings – which, along with the RGB lighting on either side, helps to make the Manba One more distinctive. However, the relatively short grips caused me some discomfort, mainly due to the sharp angle at which they tail off towards the triggers. Those with smaller hands may be fine (although mine aren’t even that big), but I prefer the grip designs of popular controllers, such as the aforementioned Xbox controller and PlayStation’s . The overall build quality is good: the face buttons are more akin to mouse clicks, but pleasingly tactile all the same, while the D-pad is more damped and operates smoothly. However, the rear 'M' buttons are too small and thin to be convenient, and all too easy to mispress. The bumpers are also a little awkward to reach given their thickness, and the triggers are quite short and less indented than those on some of the . Worst of all, though, is that the left stick – on my unit at least – can stick in an elevated position, in turn causing it to get stuck in certain directions when using it, which is a serious problem. Thankfully, this issue was resolved easily by pressing the stick back into place, but it’s a design fault that needs to be addressed, if indeed it affects all units. Since there’s no software for the Manba One, all adjustments are made via its onboard display, and thankfully the interface is clear and easy to use. From here, you can rebind buttons, activate turbo mode, and assign the four remappable M buttons to a series of button presses. You can also adjust trigger travel, as well as the deadzone and curve for the joysticks. Four profile slots are available to save your configurations, including one dedicated to Switch controls. In practice, the Manba One performs well, on both PC and the Nintendo Switch. The buttons are snappy and easy to use, although the triggers don’t offer the most feedback, since their travel is quite short. However, the ability to lock the travel is a welcome addition, and proves very useful for shooters when you want to perform quick taps. The joysticks are also precise and smooth, and the curve options do make a difference. I found that the High Performance curve, for instance, was especially useful for racing games, as it allowed for both precise micro-adjustments and full-lock steering quickly. Given its asking price, the Manba One represents good value considering its features and performance. The official Xbox Wireless Controller is cheaper, but barebones in comparison, and it doesn’t even come with a rechargeable battery. If you’re after similar levels of customization, then you’ll usually have to part with a lot more cash. The Manba One, therefore, is a worthy choice for those after a precise, tweakable controller. The Manba One costs $69.99 (about £54 / AU$105) and is available now. It comes in two colorways, black and white, the latter of which features a transparent front cover. The joysticks are replaceable, with a taller pair included in the box. Also included is a dock for wireless charging. It’s more expensive than the Xbox Wireless Controller, one of the best PC controllers around and a popular choice for many PC players, but not by much. It has more features than this pad, including a built-in display, four programmable rear buttons, and numerous other tweaks and customizations. However, unlike the Xbox Wireless Controller, the Manba One has no 3.5mm headphone jack. Compared to more feature-laden controllers, the Manba One looks like a veritable bargain. The Turtle Beach Stealth Ultra, for example – our pick as the best PC controller for those with cash to splash – is considerably more expensive. However, this gamepad is more advanced, featuring mechanical buttons and the headset audio control. The Manba One matches it for joystick hardware, though, as both pads use Hall effect technology – but the thumbsticks themselves can’t be switched out on the Stealth Ultra, as they can on the Manba One. Also, as mentioned in our , we weren’t fans of its companion software. The Manba One adopts a rather classic controller design, with a similar shape and layout to Xbox controllers, but with a slightly more angular, aggressive appearance. There’s also some customizable RGB lighting on the sides to liven up proceedings, as well as some subtle gray accents on the white variant. This colorway also features a transparent front cover, letting you see the exoskeleton lurking beneath, which fades to silver towards the bottom. The rear of the pad is lightly textured on the grips, but there’s no additional padding as some of the best PC controllers and feature. The grips themselves are also quite short and curve abruptly towards the triggers. As a result, I didn’t find the Manba One as comfortable to hold as more popular controllers, such as the Xbox controller and PlayStation’s DualSense. However, those with smaller hands may have no issue. Compared to those other controllers, the face buttons on the Manba One are less damped as well, feeling and sounding more like mouse buttons, but satisfying to use nonetheless. The D-pad, though, feels more cushioned and is smooth to operate. The sticks are average in size and feature a soft rubber material on top, offering just enough grip. A taller pair of sticks are included in the box and are easy to replace. The triggers are another point of departure for the Manba One. They’re quite short with shallow indentations, and offer less travel and resistance than you might expect. However, the stroke lock is a clever addition, as it reduces travel considerably to allow for rapid firing. Another welcome feature is their dotted texture, which does help with grip. This can also be found on the bumpers, although it’s a shame these are bulky with an awkward shape, as it makes them uncomfortable to use for long periods. Thankfully, the same can’t be said about the home buttons: these are positioned right at the bottom of the controller, below the D-pad and right analog stick. This keeps them out of the way, yet they’re still easy to access when needed. The build quality of the Manba One is hard to fault – in most places. The screen is prone to micro-scratches all too easily, but more worrying is an issue I experienced on my test unit: the left analog stick managed to get stuck in a raised position, and in this state, it would in turn catch in certain directions when operating it – a cardinal sin for any joystick. Thankfully, this was a one-off problem, and simply pushing the stick back down into its original, intended seat was enough to prevent it reoccurring. However, it’s still a fault worth noting. The included charging station matches the simple yet sleek design of the controller itself, into which the Manba One fits like a glove. It also features a compartment underneath to store the sizable Bluetooth dongle. There’s no external software app for the Manba One on either PC or mobile: every adjustment and tweak is made via a menu displayed on its screen. There are options to rebind buttons and toggle turbo mode, as well as assign the four back M buttons to a series of up to 20 buttons in a row. You can also adjust the deadzone for the analog sticks, as well the curve. There are four options to choose from on this front, ranging from a default, linear curve to a High Performance option, which Manba claims is ideal for racing and shooting games. There are four profile slots to store your setups, including one dedicated to Switch controls, but unfortunately, you can’t rename them. There are also tools for testing buttons and calibrating the joysticks, triggers, and motion control (for the gyroscope when playing certain Switch games). You can set the vibration strength too, with four levels to choose from, or turn it off completely. Gaming with the Manba One is mostly an enjoyable experience. The sticks offer smooth and precise movements, while the buttons are responsive and tactile. However, the triggers fail to offer the best feedback, as their travel is too short to offer the kind of finely graded control you want from analog inputs. The underneath M buttons are also hard to use in the heat of the moment, given their small size and awkward position; you can’t use a more flat-fingered approach, as you can with a more traditional, paddle-like designs. Personally, I’ve always preferred D-pads with separate buttons for each direction, rather than the integrated design on the Manba One, as I find they give me more control and precision in games where such inputs are crucial. I needn’t have worried, though. When playing , for instance, where D-pad inputs are complex, I had little issue hitting the directions I wanted to hit. That circular shape also helps to roll seamlessly between multiple directions, yet each is still easy to actuate individually without accidentally triggering adjacent directions, which can happen on D-pads with a singular component. The various tweaks available on the Manba One also made a difference. Using the High Performance curve for racing games, for instance, was a marked improvement. When playing , it offered much better car control, as I could make minute steering corrections and drastic changes of direction equally well, depending on how far I moved the stick. This same curve is also recommended for shooters, although I found that the default, linear curve offered less sensitive and more precise looking and aiming. The locks on the back that shorten the trigger length also work for enabling rapid shooting. One of the great advantages of the display is the ability to adjust settings on the fly. Accessing the menu mid-game works well for the most part, although having to hold the home button for three seconds to activate it is a little inconvenient; I wish it were a little quicker. It’s a shame also that the M buttons can’t be programmed as modifiers; to toggle the curve of the analog sticks, for instance, which would be useful for situations requiring momentary decreases in sensitivity, such as aiming, acting like a sniper button on a mouse. I found the M buttons all too easy to trigger too, especially when using the D-pad or face buttons intensely, as I naturally tightened my grip on the back of the controller. In addition to PC, I also used the Manba One with a Nintendo Switch, connecting via Bluetooth without needing the included dongle. Like the , connecting the Manba One to the console is easy, and it worked flawlessly. The battery life of the Manba One is claimed to be about 10 hours or more, and this was roughly in line with what I experienced, although it was hard to get an accurate measurement of battery levels, since no percentage is given on the inbuilt screen. Charging via the included dock takes about four and a half hours according to Manba, and again this proved relatively accurate. Buy it if... Don't buy it if... Also consider... If the Manba One isn't doing it for you, here's a couple of other controllers we recommend I tested the Manba One for several days. During that time, I used it to play a variety of titles, including shooters, racing simulators and fighting games, in order to test every aspect of the controller. These included , , , and . I tested the Manba One on PCs – both and 11 – and the Nintendo Switch. I also made sure to use and tweak every available feature and setting on the Manba One via the built-in display. I also tried out the included replaceable joysticks and the wireless charging dock. I have been gaming for over 25 years across numerous platforms, all the way from the NES and other Nintendo consoles to most generations of PlayStation and PC. During that time I have used a number of controllers, from official devices to third-party ones. I’ve also tested many other gaming peripherals, including mice and keyboards.LANDOVER, Md. (AP) — Austin Seibert missed his second extra point of the game with 21 seconds left after Jayden Daniels and Terry McLaurin connected on an 86-yard touchdown, Juanyeh Thomas returned the ensuing onside kick attempt for a touchdown and the Dallas Cowboys pulled out a 34-26 victory Sunday that extended the Washington Commanders’ skid to three games. Seibert, who missed the previous two games with a right hip injury, was wide left on the point-after attempt following a low snap. Thomas then took the kick back 43 yards as the Cowboys (4-7) ended their losing streak at five in improbable fashion. Part of that was the play of backup Cooper Rush, who threw for 247 yards and two TDs in his third start in place of starter Dak Prescott. Part was also the defense forcing two turnovers, as Chauncey Golston ripped the ball out of Brian Robinson Jr.’s hands for what was called an interception of Daniels in the second quarter, and Donovan Wilson stripped John Bates midway through the fourth. KaVonte Turpin provided the fireworks with a spinning, 99-yard kickoff return TD seconds after Daniels found Zach Ertz in the end zone and scored on a 2-point conversion to cut the deficit to three with 3:02 left. In the final three minutes alone, the Commanders (7-5) scored 10 points and allowed Thomas’ TD. All that after the score was 10-9 through three quarters before madness ensued. CHIEFS 30, PANTHERS 27 CHARLOTTE, N.C. (AP) — Patrick Mahomes threw for 269 yards and three touchdowns , Spencer Shrader kicked a 31-yard field goal as time expired and Kansas City beat Carolina to reach double-digit wins for the 10th straight season. Noah Gray caught two TD passes as the Chiefs (10-1) bounced back from last week’s 30-21 loss at Buffalo and won at the buzzer yet again in a season of narrow escapes. DeAndre Hopkins also had a touchdown catch for the two-time defending Super Bowl champions, who scored on their first five possessions. Bryce Young finished 21 of 35 for 262 yards and a touchdown for the Panthers (3-8), who had their two-game winning streak snapped. David Moore had six receptions for 80 yards and a touchdown. Trailing 27-19, Young completed a fourth-down pass to Adam Thielen to move the chains, then went deep for the veteran receiver, who drew a pass-interference penalty on Chamarri Conner. That set up a 1-yard touchdown run by Chuba Hubbard. LIONS 24, COLTS 6 INDIANAPOLIS (AP) — Jahmyr Gibbs rushed for two scores and David Montgomery added a third touchdown run, leading Detroit to a victory over Indianapolis. Gibbs finished with 21 carries for 90 yards as the Lions (10-1) extended their league-high winning streak to nine straight. Detroit has its been 11-game record since the franchise’s inaugural season in 1934. Jared Goff continued his sensational season, too, completing 26 of 36 throws for 269 yards. The Colts (5-7) lost their second straight home game and for the fourth time in their past five games. Anthony Richardson was 11 of 28 with 172 yards while rushing 10 times for 61 yards. While Indy managed to hold the NFL’s highest-scoring offense largely in check Sunday, it was doomed by its inability to finish drives with touchdowns. BUCCANEERS 30, GIANTS 7 EAST RUTHERFORD, N.J. (AP) — Baker Mayfield catapulted into the end zone on a spectacular 10-yard scramble for one of Tampa Bay’s four rushing touchdowns, and the Buccaneers beat the Giants and new starting quarterback Tommy DeVito, snapping a four-game losing streak and extending New York’s skid to six. The Giants’ decisions this week to bench and then release quarterback Daniel Jones did nothing to help the NFL’s lowest-scoring offense. DeVito threw for 189 yards, mostly in the second half with New York well on its way to its sixth straight loss at home, where it is winless. Meanwhile, the Buccaneers dominated in every phase in a near-perfect perfect performance that featured TD runs of 1 yard by Sean Tucker, 6 yards by Bucky Irving and 1 yard by Rachaad White. After recent losses to the Ravens, 49ers and Chiefs, Tampa Bay (5-6) moved within one game of idle Atlanta in the NFC South. Tampa Bay scored on five of its on first six possessions to open a 30-0 lead, and none was more exciting than Mayfield’s TD run with 12 seconds left in the first half. On a second-and-goal from the 10, he avoided pressure and went for the end zone. He was hit by Cor’Dale Flott low and Dru Phillips high around the 2-yard line, and he was airborne when he crossed the goal line. The ball came loose when he hit the turf but he jumped up and flexed — seemingly mocking DeVito’s go-to celebration — as the Bucs took a 23-0 lead. DOLPHINS 34, PATRIOTS 15 MIAMI GARDENS, Fla. (AP) — Tua Tagovailoa threw for 317 yards and four touchdowns, including two scores to running back De’Von Achane, and Miami routed New England. The Dolphins (5-6) have a thin margin for error the rest of the season but have kept themselves afloat with a three-game winning streak. With their win at New England (3-9) in Week 5, the Dolphins have swept their division rivals in consecutive seasons for the first time since 1999-2000. Tagovailoa, who moved to 7-0 in his career against New England, entered the game with a league-high 73.4% completion rate and went 29 for 40. Backup Skylar Thompson replaced Tagovailoa with about 11 minutes left in what was already a blowout, but a bad handoff on his first play resulted in a fumble that was recovered by cornerback Christian Gonzalez and returned 63 yards for a touchdown. It cut New England’s deficit to 31-15, and Tagovailoa returned the next drive. TITANS 32, TEXANS 27 HOUSTON (AP) — Will Levis threw for 278 yards and his 70-yard touchdown pass to Chig Okonkwo put Tennessee on top in the fourth quarter and the Titans held on for a win over the Texans. Okonkwo grabbed a short pass and rumbled for the touchdown to put the Titans (3-8) up 30-27 with 91⁄2 minutes remaining. Safety Eric Murray missed a tackle that would have stopped him near midfield. The Texans (7-5) had a chance to tie it with less than two minutes remaining, but Ka’imi Fairbairn’s 28-yard field-goal attempt sailed wide left. He fell to the ground after the miss before getting up and slamming his helmet on the field. Titans coach Brian Callahan held both hands in the air and smiled after watching the miss that allowed his team to win on a day it had three turnovers. The Texans forced a three-and-out, but couldn’t move the ball after that and Harold Landry sacked C.J. Stroud in the end zone for a safety to make it 32-27 and allow Tennessee to snap a two-game skid. VIKINGS 30, BEARS 27, OT CHICAGO (AP) — Sam Darnold threw for 90 of his 330 yards in overtime to set up Parker Romo’s game-ending 29-yard field goal , and Minnesota outlasted Chicago after giving up 11 points in the final 22 seconds of regulation. Darnold threw two touchdown passes, Jordan Addison caught eight passes for a career-high 162 yards and a touchdown, and T.J. Hockenson had 114 yards receiving for the Vikings (9-2), who remained one game behind Detroit in the rugged NFC North. Caleb Williams threw for 340 yards and two touchdowns for the Bears (4-7), who lost their fifth straight. Minnesota appeared to have the game in hand, leading 27-16 with 1:56 left after Romo kicked a 26-yard field goal. But the Bears weren’t finished. Deandre Carter made up for a muffed punt that led to a touchdown in the third quarter with a 55-yard kickoff return to the 40. Williams took it from there, capping an eight-play drive with a 1-yard touchdown pass to Keenan Allen. A 2-point conversion pass to DJ Moore made it 27-24 with 22 seconds remaining. The Bears recovered the onside kick and Williams hit Moore over the middle for a 27-yard gain to the 30 before spiking the ball. Cairo Santos made a 48-yard field goal as time expired.
Australia passed one of the strictest internet crackdowns in the world last month, banning children under 16 from being on social media or opening new accounts. The law, which takes effect a year from now, holds social media companies responsible for verifying kids' ages. Not complying could trigger fines up to nearly $50 million. The law came over the objections of social media companies, which have criticized it as a form of free speech suppression. Tech companies have also argued that blocking kids from being on social media will drive them to darker, less regulated corners of the internet. The law's passage comes as scrutiny intensifies in Washington over legislating online safety protections for children, with proposals under debate that would hold platforms responsible for exposing young users to dangerous, hateful or toxic content online. From Silicon Valley to state capitals, all eyes are on how Australia's law will be implemented, and the person tasked with enforcing the law is Julie Inman Grant, Australia's eSafety Commissioner, the country's top internet regulator. NPR spoke with Grant about what led to the social media ban, what enforcement looks like and how her agency plans to address the unintended consequences of criminalizing the use of social media for kids under 16. The conversation has been edited for brevity and clarity. For our American audience, can you just explain what the eSafety Commission does? Grant: The eSafety Commission was set up nine years ago, in 2015, and has been the first online safety regulator in the world. Part of our function is to provide research, prevention, education — and then we've got complaint schemes for kids who are being cyberbullied. For all Australians who've experienced image-based abuse with the non-consensual sharing of deepfakes and intimate images, for instance. And then we do a lot of work around assessing tech trends, becoming an anticipatory regulator so that as new technology paradigms shift and move our way, we're prepared to address them The new law draws a line at 16 years old, that anyone under that age should not be able to access social media. Why 16? Grant: We've set out arbitrary numbers for the age of a child for a long time. Many social media apps require users to be 13. But it really depends on the actual circumstances of the child. Do they have parental supervision? Do they have underlying mental health issues? What kind of content are they looking at, and for how long? So a whole range of things are important. The prime minister decided to go with 16, but there were other proposals for 14, or 15. There are a lot of questions about how age verification will work. A proposal to require government-issued IDs was nixed over privacy concerns. Using facial recognition technology, or biometric scanning, has been discussed. How will these kinds of systems work? Grant: There are really only three ways you can verify someone's age online, and that's through ID, through behavioral signals or through biometrics. And all have privacy implications. There was big concern with providing government ID. But there are digital identity providers, like one called Yoti, that can estimate someone's age using facial recognition technology. But we do want to make sure there is not discrimination, or bias, and some of these technologies are less accurate depending on the kind of face being scanned. I met with an age assurance provider last week in Washington, D.C., who is using an AI-based system that looks at hand movements and has a 99% success rate. Wait, what? Using hand movements to confirm someone's age? Grant: Yes. Say you do a peace sign then a fist to the camera. It follows your hand movements. And medical research has shown based on your hand movement, it can identify your age. So there are some innovative solutions out there. But whatever social media companies end up using, it's going to be balanced against privacy, and it must ensure it does not undermine a user's security. Research that's examined the link between social media use and teens' emotional states has come back mixed. There really is not a super clear causal link between greater use of social media and upticks in anxiety and depression among teens. So knowing this, isn't this law based on a false premise? Grant: For teens in marginalized communities, like the LGBTQA+ community, or teens with disabilities, or those who are neurodivergent, our own research has shown that online communities can provide a space for them to feel more at home — almost provide a lifeline — but also be places of hate. So both of these issues have been raised. I think the genesis of this movement has been Jonathan Haidt, author of the book The Anxious Generation , and he even admits some of the research is mixed. And it's true that it is not necessarily causal. But in many circumstances, it's certainly correlational. And this law is focused on the addictive design and features, and dark patterns that emerge on social media platforms. Now, messaging services and gaming apps will be exempt. The Minister of Communication will ultimately decide which platforms are in and which are out. And I will do my own separate analysis and make recommendations. Companies, like TikTok, have said pushing under-16 teens away from established social media apps could make young people drift toward darker corners of the internet where there are no rules or safety measures in place. What's your response to that? Grant: I believe we should approach online safety the same way we have water safety. And what I mean by that is: Decades ago, there were tragic backyard drownings in swimming pools. So Australia made a decisive decision that all pools would be fenced, and that would be backed by enforcement. But we don't try and fence the ocean because that's futile. What we do is we teach our children to swim at the youngest age, just like we need to teach them digital literacy. We teach them to swim between the flags. We have lifeguards. We have shark nets where we know there are predators and we teach them about rip [tides]. And you could use the analogy of the algorithmic rip. We want to keep them swimming between the flags where there is supervision, so they aren't going to the darker, murkier waters where there is no supervision. So I think that is a reasonable concern. And the reason I refer to this as a social media restriction rather than a total ban is that messaging and gaming sites and anything that delivers education or health care information, like community forums, will be exempted. I talked to a 15-year-old in Australia who can't imagine living, or being social, without social media. What do you say to other teens who feel that way? Grant: I've been having high-level discussions with social media companies. And there's the possibility that some of the social media functionality could be removed, rather than an entire app being blocked off, to ensure those dark patterns and addictive design features are addressed. And maybe when they turn 16, the full functionality of the social media app can be enabled — whether that's the Snap Map, or being able to post Reels on Instagram. When this law takes effect, on Dec. 10, 2025, there's not going to be some switch that's flipped off. Every user under 16 will not automatically have their apps disappear. The first thing we've tasked social media companies with doing is identifying who all the under 16-year-old users are on their platforms. We did research in September of this year finding that 84% of 8- to 12-year-olds are already on social media. And interestingly, we asked, "Were your parents or any adults aware that you were setting up these social media accounts early?" And 80% of them said yes. And in 90% of cases, it was parents that helped them set up their accounts. So I wouldn't say it's necessarily willful blindness, but, to date, social media companies may not even exactly know how many under-16-year-old users are on their platforms. The onus to date has been falling on the parents and the children themselves, and this law is the government making a very definitive statement and saying: We need to put the burden back on you, companies, just like we did with car manufacturers 60 years ago with seatbelts. And now, there's so much lifesaving technology in our cars, like anti-lock brakes and airbags, that we take for granted. Back then, the car manufacturers pushed back, but now they compete on safety. This law is really aimed at making normative change, that the onus should fall on platforms.-- First Half Revenue of $85.7 million , increase 1.5% year-over-year -- -- First Half GMV of $107.3 million , down 7.0% year-over-year -- SHANGHAI , Dec. 19, 2024 /PRNewswire/ -- Jowell Global Ltd. ("Jowell" or the "Company") (NASDAQ: JWEL), one of the leading cosmetics, health and nutritional supplements, and household products e-commerce platforms in China , today announced its unaudited financial results for the six months ended June 30, 2024 . First Half 2024 Financial and Operational Highlights [1] "Total VIP members" refers to the total number of members registered on Jowell's platform as of June 30, 2024 and June 30, 2023. [2] "LHH stores" refers to the brand name of "Love Home Store". Authorized retailers may operate as independent stores or store-in-shop (an integrated store), selling products they purchased through Jowell's online platform LHH Mall under their retailer accounts, which provides them with major discounts. First Half 2024 Financial Results Total Revenues Total revenues for the first half 2024 were $85.7 million , representing an increase of 1.5% from $84.4 million in the same period of 2023. Our weighted average unit price was $5.16 per unit for the first half of 2024, which represented an increase of 4.2% as compared to $4.95 per unit for the same period of 2023. Our health and nutritional supplements revenue for the first half of 2024 increased by about $11.1 million , or 182.1%, as compared to the same period of 2023. The increase in health and nutritional supplements revenue was mainly due to the increase in sales of premium brand health and nutritional supplements. We have stepped up our promotions on these items during the Chinese New Year holidays in the first half of 2024 in an attempt to offer more promotional discounts in response to the overall market downturn. First Half Ended June 30 % 2024 2023 change Revenues (in thousands, except for percentages) US$ US$ YoY* Product sales • Cosmetic products 19,768.5 29,495.5 (33.0 %) • Health and nutritional supplements 17,190.7 6,094.2 182.1 % • Household products 48,438.7 48,473.1 (0.1 %) • Others 286.4 343.4 (16.6 %) Total 85,684.3 84,406.2 1.5 % * YOY—year over year Total cost and operating expenses were $89.6 million in the first half of 2024, a decrease of 1.5% from $91.0 million in the same period of 2023. Operating Loss Operating loss was $4.0 million for the first half of 2024, compared with the operating loss of $6.6 million in the same period of 2023. The decrease in operating loss for the first half of 2024 was mainly due the decrease of marketing expenses, as well as reduction of operating expenses as discussed above. Net Loss Net loss was $3.8 million , a decrease of 47.1% compared with net loss of $7.1 million in the same period of 2023, which was mainly due the factors mentioned above. Loss per Share The Company computes earnings (loss) per share ("EPS") in accordance with ASC 260, "Earnings per Share" ("ASC 260"). Each of the Company's Preferred Share has voting rights equal to two Ordinary Shares of the Company and each Preferred Share is convertible into one Ordinary Share at any time. Except for voting rights and conversion rights, the Ordinary Shares and the Preferred Shares rank pari passu with one another and have the same rights, preferences, privileges and restrictions. For the first half ended June 30, 2024 and 2023, respectively, the Company had no potential ordinary shares outstanding that could potentially dilute EPS in the future. Cash and Cash Equivalents For the first half of 2024, the Company reported a net loss of $3.8 million , a negative operating cash flow of $41,012 and an accumulated deficit of approximately $29.8 million . The Company's principal sources of liquidity are sales revenues, proceeds from a private placement and a registered direct offering. As of June 30, 2024 , the Company had cash and restricted cash of approximately $0.8 million , held by the variable interest entity (VIE) Shanghai Juhao Information Technology Co., Ltd. ("Shanghai Juhao") with banks and financial institutions inside China as the Company conducts its operations primarily through the consolidated VIE in China ; the Company's working capital as of June 30, 2024 was $13.4 million . Due to the uncertainty of the current market environment, management believes it is necessary to enhance the collection of its outstanding accounts receivable and other receivables, and to be cautious in terms of its operational decisions and project selections. As of October 31, 2024 , approximately $1.8 million , or 62%, of its accounts receivable balance as of June 30, 2024 were collected, and approximately $9.9 million , or 93%, of its advances to supplier balance as of June 30, 2024 were utilized. In addition, the Company's Form F-3 registration was declared effective on August 31, 2022 , and the Company may also seek equity financing from outside investors if necessary. Based on the latest business plan of the Company, Shanghai Juhao has reduced its promotion efforts and marketing expenditures since the second half of 2023, which reduced the cash used in operating activities. Management believes that the above-mentioned factors, including cash on hand of approximately $0.8 million , will provide sufficient liquidity for the Company to meet its future liquidity and capital requirements for at least the next twelve months. About Jowell Global Ltd . Jowell Global Ltd. (the "Company") is one of the leading cosmetics, health and nutritional supplements and household products e-commerce platforms in China . We offer our own brand products to customers and also sell and distribute health and nutritional supplements, cosmetic products and certain household products from other companies on our platform. In addition, we allow third parties to open their own stores on our platform for a service fee based upon sale revenues generated from their online stores and we provide them with our unique and valuable information about market needs, enabling them to better manage their sales effort, as well as an effective platform to promote their brands. The Company also sells its products through authorized retail stores all across China , which operate under the brand names of " Love Home Store " or "LHH Store" and "Best Choice Store". For more information, please visit http://ir.1juhao.com/ . Exchange Rate The Company's financial information is presented in U.S. dollars ("USD"). The functional currency of the Company is the Chinese Yuan, Renminbi ("RMB"), the currency of the PRC. Any transactions which are denominated in currencies other than RMB are translated into RMB at the exchange rate quoted by the People's Bank of China prevailing at the dates of the transactions, and exchange gains and losses are included in the statements of operations as foreign currency transaction gain or loss. The consolidated financial statements of the Company have been translated into U.S. dollars in accordance with ASC 830, "Foreign Currency Matters". This press release contains translations of certain RMB amounts into U.S. dollars ("USD" or "$") at specified rates solely for the convenience of the reader. The exchange rates in effect as of June 30, 2024 and December 31, 2023 were RMB1 for $0.1403 and $0.1412 , respectively. The average exchange rates for the six months ended June 30, 2024 and 2023 were RMB1 for $0.1407 and $0.1444 , respectively. Safe Harbor Statement This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; financial condition and results of operations; product and service demand and acceptance; reputation and brand; the impact of competition and pricing; changes in technology; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov . The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. For investor and media inquiries, please contact: Jowell Global Ltd. Ms. Jessie Zhao Email: IR@1juhao.com Jowell Global Ltd. CONDENSED CONSOLIDATED BALANCE SHEETS June 30, December 31, 2024 2023 (Unaudited) ASSETS Current Assets: Cash $ 805,344 $ 1,250,281 Accounts receivable, net 2,344,481 2,401,056 Accounts receivable - related parties - 47,040 Advance to suppliers 10,050,688 3,506,432 Advance to suppliers - related parties 12,493,792 9,874,545 Inventories 4,508,515 8,198,402 Prepaid expenses and other current assets 1,075,591 1,384,758 Total current assets 31,278,411 26,662,514 Long-term investment 3,709,340 3,888,377 Property and equipment, net 845,579 681,942 Intangible assets, net 532,810 634,655 Right of use lease assets, net 1,506,729 2,019,300 Other non-current asset 638,723 895,775 Deferred tax assets 512,175 515,364 Total Assets $ 39,023,767 $ 35,297,927 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Short-term loan $ 210,473 $ 423,567 Accounts payable 2,791,515 3,765,230 Accounts payable - related parties 280,530 194,818 Deferred revenue 11,691,812 2,309,957 Deferred revenue - related parties 40,000 47,059 Current portion of operating lease liabilities 1,475,947 942,989 Accrued expenses and other liabilities 975,072 782,048 Due to related parties 414,585 528,472 Taxes payable 1,487 58,233 Total current liabilities 17,881,421 9,052,373 Non-current portion of operating lease liabilities - 1,032,235 Total liabilities 17,881,421 10,084,608 Commitments and contingencies Equity Common stock, $0.0016 par value, 450,000,000 shares authorized, 2,170,475 issued and outstanding at June 30, 2024 and December 31, 2023, respectively * 3,473 3,473 Preferred stock, $0.0016 par value, 50,000,000 shares authorized, 46,875 issued and outstanding at June 30, 2024 and December 31, 2023, respectively * 75 75 Additional paid-in capital 52,687,182 52,687,182 Statutory reserves 394,541 394,541 Accumulated deficit (29,768,863) (26,039,567) Accumulated other comprehensive loss (2,153,720) (1,843,970) Total Jowell GlobUNITED NATIONS (AP) — The deadliest place for women is at home and 140 women and girls on average were killed by an intimate partner or family member per day last year, two U.N. agencies reported Monday. Globally, an intimate partner or family member was responsible for the deaths of approximately 51,100 women and girls during 2023, an increase from an estimated 48,800 victims in 2022, UN Women and the U.N. Office of Drugs and Crime said. The report released on the International Day for the Elimination of Violence Against Women said the increase was largely the result of more data being available from countries and not more killings. But the two agencies stressed that “Women and girls everywhere continue to be affected by this extreme form of gender-based violence and no region is excluded.” And they said, “the home is the most dangerous place for women and girls.” UN Women’s Deputy Executive Director Nyaradzayi Gumbonzvanda told a news conference launching the report that women have been killed by their loved ones for a long time and the trend is continuing because underlying issues haven’t been addressed — especially gender stereotyping and social norms. “This is killing which is associated with power over women,” she said, and it continues because of the continuing impunity for violent attacks against women. Gumbonzvanda, a Zimbabwean and longtime advocate for women’s rights, said there is “a lot of perpetrator anonymity” when it comes to the killing of women by partners or family members because “it means the family members have to bring justice against another family member.” UN Women is campaigning for those with economic and political power and for leaders in various traditions not to use their power to perpetuate violence. “Power should be used to facilitate options for prevention,” she said. According to the report, the highest number of intimate partner and family killings was in Africa – with an estimated 21,700 victims in 2023. Africa also had the highest number of victims relative to the size of its population — 2.9 victims per 100,000 people, it said. There were also high rates last year in the Americas with 1.6 female victims per 100,000 and in Oceania with 1.5 per 100,000, it said. Rates were significantly lower in Asia at 0.8 victims per 100,000 and Europe at 0.6 per 100,000. According to the report, the intentional killing of women in the private sphere in Europe and the Americas is largely by intimate partners. By contrast, the vast majority of male homicides take place outside homes and families, it said. “Even though men and boys account for the vast majority of homicide victims, women and girls continue to be disproportionately affected by lethal violence in the private sphere,” the report said. “An estimated 80% of all homicide victims in 2023 were men while 20% were women, but lethal violence within the family takes a much higher toll on women than men, with almost 60% of all women who were intentionally killed in 2023 being victims of intimate partner/family member homicide,” it said. The report said that despite efforts to prevent the killing of women and girls by countries, their killings “remain at alarmingly high levels.” “They are often the culmination of repeated episodes of gender-based violence, which means they are preventable through timely and effective interventions,” the two agencies said.
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(The Center Square) – Momentum is with the emerging electric vehicle industry even with many question marks surrounding energy policy as the Trump administration takes office in January, observers of the industry say. “At the local and state level, there's an incredible amount of energy and action taking place to support transportation electrification,” Ben Prochazka, executive director of the Electrification Coalition, told The Center Square. With Elon Musk, CEO of Tesla Motors, playing a significant role in President-elect Donald Trump’s election and chosen with Vivek Ramaswamy to head his new Department of Government Efficiency, it is also unlikely that the electric vehicle industry will be neglected nationally. “The hope is that Elon Musk has influence in the new administration, which does look to be the case,” said Prochazka. “Hopefully, that means there’s a great recognition around the economic benefits that exist.” It remains to be seen how electric vehicle incentive or tax credit programs – different than mandates – might be affected by Trump’s moves to cut spending. Mainstream outlets have already proclaimed that Trump has an "anti-EV agenda," as a group of automakers urged him to retain a national $7,500 consumer tax credit for electric vehicle purchases. On the other hand, Prochazka said tariffs and the deregulation of the domestic automotive industry could play a positive role in the electric vehicle industry, depending on how they are "established." “With any new administration, there's always going to be question marks about what the prevailing winds are,” explained Prochazka, whose nonpartisan, nonprofit coalition engages in policy development, advocacy campaigns and consumer education. "E verything has the potential to be reevaluated and then changed." Willett Kempton is in the University of Delaware's Department of Electrical and Computer Engineering and has research interests in offshore wind power, electric vehicles and public environmental beliefs and values. He agrees with Prochazka that a lot is still up in the air about Trump’s policy approach to the electric vehicle industry. Certain policies could potentially " slow down" growth domestically, he said. Yet, that wouldn't permanently stop growth. “National governments can slow this growth by policy changes, but that doesn’t change the cost advantages nor the long-term trends,” Kempton told The Center Square. In the past, Republicans generally have been notably skeptical about electric vehicles and especially mandates for them, preferring those powered by fossil fuels. Reliability is among the key drivers of the party's choice when it comes to opposition of the broader green agenda of Democrats. Musk’s involvement has the potential to change that skepticism. Prochazka said he is hopeful for that, emphasizing that his organization believes that electric vehicles should not be a partisan issue. “The last election ultimately created more partisan views on electrification,” he said. “We are working really hard to make sure it's clear that transportation electrification is not a red or a blue issue, but it's really about what's better for the country, especially when you look at it through the lens of global competition. We need to maintain our automotive leadership.” For Prochazka, growing the eclectic vehicle industry is an issue of both “national and economic security.” “The automotive sector is a trillion dollar a year industry that has millions and millions of jobs that are a part of the U.S. automotive sector," he said. "So, as the world goes electric, we need to compete so that we can not only maintain our current market share, but hopefully grow it. There’s a global race to electrification.” There are nearly 2.5 million electric vehicles registered throughout the nation, with the highest percentage of those in California. Even then, only 2.5% of the vehicles in California are electric vehicles and only 6.8% of the vehicles sold nationwide in 2024 were electric. Kempton and Prochazka say the transition to electric vehicles will be inevitable and that America should be the nation leading it. “The shift to electric vehicles is worldwide and there are so many advantages to EVs that this will proceed,” Kempton said. “In most territories, clean energy is already the lowest-cost electricity source and largest amount of new generation being installed. These are driven by market forces and producer projections of where the most future growth will be. So, I would not call these ‘movements’ but rather markets or growth trends and adoption of new technologies.” Only 38% of United States adults say they would even consider buying an electric vehicle. Prochazka said he believes that will continue to change, both as there are nationally moves to protect the economic interests of the United States and as more people get familiar with electric vehicles. “We need to also make sure the U.S. is moving as quickly as possible, so that we can compete with the sort of global efforts to electrify,” he said. “Most people have not gotten behind the wheel and have not plugged one in. I think it’s something that people really just need to try, because then they'll realize this is a much better vehicle. It's just about getting people behind the wheel.”Jeeno Thitikul has a $4M finish to win LPGA finale and Maverick McNealy wins first PGA Tour title
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Japan's education ministry has urged that school trips be planned for the off-season due to a recent labor shortage in transportation and accommodations amid a boom in inbound tourism, according to sources familiar with the matter. Schools tend to have their trips between May and June or from September to December, according to the Ministry of Education, Culture, Sports, Science and Technology. Avoiding peak travel seasons would benefit schools as they would not need to suddenly change schedules due to the unavailability of charter buses or hotels. The ministry sent notices on Dec. 12 to education boards and schools after the bus and travel industries requested its cooperation regarding the scheduling of school trips. "The recent acute labor shortage makes it difficult for schools to secure charter buses and accommodations," the ministry said in the notice, urging more flexible timing. The most popular travel season for junior high schools in fiscal 2023 was May, while that for high schools was October, according to a survey by the Japan School Tours Bureau, a nonprofit private organization. Many schools decide timing of their trips based on annual academic schedules and weather, with Tokyo, Osaka, Kyoto and Okinawa prefectures among the favored destinations. There has been a shortage in bus driver availability since the government earlier this year restricted their working hours to improve conditions, with some schools opting for trains instead.
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Fulcrum Therapeutics to Participate in Upcoming December Conferences-- First Half Revenue of $85.7 million , increase 1.5% year-over-year -- -- First Half GMV of $107.3 million , down 7.0% year-over-year -- SHANGHAI , Dec. 19, 2024 /PRNewswire/ -- Jowell Global Ltd. ("Jowell" or the "Company") (NASDAQ: JWEL ), one of the leading cosmetics, health and nutritional supplements, and household products e-commerce platforms in China , today announced its unaudited financial results for the six months ended June 30, 2024 . First Half 2024 Financial and Operational Highlights Total revenues were $85.7 million , an increase of 1.5% from $84.4 million in the same period of 2023. Net loss was $3.8 million , a decrease of 47.1%, as compared to the net loss of $7.1 million in the same period of 2023. Total GMV (Gross Merchandise Value) transacted in our online shopping mall was $107.3 million , a decrease of 7.0% from $115.5 million in the same period of 2023. Total VIP members [1] as of June 30, 2024 were approximately 2.7 million, an increase of 8.5% compared to approximately 2.5 million as of June 30, 2023 . Total LHH stores [2] as of June 30, 2024 were 26,795, an increase of 1.0% compared to 26,528 as of June 30, 2023 . First Half 2024 Financial Results Total Revenues Total revenues for the first half 2024 were $85.7 million , representing an increase of 1.5% from $84.4 million in the same period of 2023. Our weighted average unit price was $5.16 per unit for the first half of 2024, which represented an increase of 4.2% as compared to $4.95 per unit for the same period of 2023. Our health and nutritional supplements revenue for the first half of 2024 increased by about $11.1 million , or 182.1%, as compared to the same period of 2023. The increase in health and nutritional supplements revenue was mainly due to the increase in sales of premium brand health and nutritional supplements. We have stepped up our promotions on these items during the Chinese New Year holidays in the first half of 2024 in an attempt to offer more promotional discounts in response to the overall market downturn. Total cost and operating expenses were $89.6 million in the first half of 2024, a decrease of 1.5% from $91.0 million in the same period of 2023. Costs of revenues were $84.8 million in the first half of 2024, an increase of 1.3% from $83.8 million in the same period of 2023, which including an increase of $11.1 million in health and nutritional supplements and partially offset by a decrease of $7.9 million in cosmetic products and $1.4 million in household products. Cost of revenues of health and nutritional supplements for the first half 2024 increased about 189.9% as compared to the same period of 2023. The increase was primarily due to a 65.7% increase in weighted average unit cost. The increase in weighted average unit costs for our health and nutritional supplements is mainly because we offered and sold more higher unit price products in the first half 2024 than the same period of 2023. The decrease in the cost of cosmetic products and household products was attributable to a decrease in the weighted average unit cost and a decrease in sales volume. The weighted average unit cost of cosmetic products decreased from $2.94 in the first half of 2023 to $2.47 in the first half of 2024, and weighted average unit cost of household products decreased from $8.18 in the first half of 2023 to $8.11 in the first half of 2024, both decreases mainly due to reduced customers discretionary spendings on premium brands and their preference to low cost, low price and necessity household products during the first half of 2024, as compared to the same period of 2023. The cosmetic products sales volume declined the most, with a decrease of 13.5% during the first half of 2024 comparing to the same period of 2023. Fulfillment expenses primarily consist of costs related to expenses paid for order preparing, packaging, outbound freight, and physical storage. Fulfillment expenses were $0.8 million in the first half of 2024, a decrease of 56.8% from the $1.9 million in the same period of 2023. Fulfillment expenses as a percentage of total revenues were 1% in the first half of 2024, down from 2.3% in the first half of 2023. The significant reduction in fulfillment costs are attributed to our cost reduction measures in logistics. Firstly, we reduced the rental area of warehouses and labor costs in the logistics process; Secondly, we switched to logistics service providers with lower cost to replace the original ones, significantly reducing express logistics costs. Marketing expenses primarily consist of targeted online advertising, and payroll and related expenses for personnel engaged in marketing and selling activities. Marketing expenses were $2.8 million in the first half of 2024, a decrease of 15.8% from the $3.3 million in the same period of 2023. The decrease was primarily due to a decrease in our marketing and promotion activities. Marketing expense as percentage of total revenues was 3.2% in the first half of 2024, down from 3.9% in the same period of 2023. General and administrative expenses mainly consist of payroll, depreciation, office supplies and upkeep. General and administration expenses were $1.2 million in the first half of 2024, a decrease of 40.1% from $2.0 million in the same period of 2023. General and administration expenses as percentage of total revenues was 1.4% in the first half of 2024, down from 2.3% in the same period of 2023. Operating Loss Operating loss was $4.0 million for the first half of 2024, compared with the operating loss of $6.6 million in the same period of 2023. The decrease in operating loss for the first half of 2024 was mainly due the decrease of marketing expenses, as well as reduction of operating expenses as discussed above. Net Loss Net loss was $3.8 million , a decrease of 47.1% compared with net loss of $7.1 million in the same period of 2023, which was mainly due the factors mentioned above. Loss per Share The Company computes earnings (loss) per share ("EPS") in accordance with ASC 260, "Earnings per Share" ("ASC 260"). Each of the Company's Preferred Share has voting rights equal to two Ordinary Shares of the Company and each Preferred Share is convertible into one Ordinary Share at any time. Except for voting rights and conversion rights, the Ordinary Shares and the Preferred Shares rank pari passu with one another and have the same rights, preferences, privileges and restrictions. For the first half ended June 30, 2024 and 2023, respectively, the Company had no potential ordinary shares outstanding that could potentially dilute EPS in the future. Cash and Cash Equivalents For the first half of 2024, the Company reported a net loss of $3.8 million , a negative operating cash flow of $41,012 and an accumulated deficit of approximately $29.8 million . The Company's principal sources of liquidity are sales revenues, proceeds from a private placement and a registered direct offering. As of June 30, 2024 , the Company had cash and restricted cash of approximately $0.8 million , held by the variable interest entity (VIE) Shanghai Juhao Information Technology Co., Ltd. ("Shanghai Juhao") with banks and financial institutions inside China as the Company conducts its operations primarily through the consolidated VIE in China ; the Company's working capital as of June 30, 2024 was $13.4 million . Due to the uncertainty of the current market environment, management believes it is necessary to enhance the collection of its outstanding accounts receivable and other receivables, and to be cautious in terms of its operational decisions and project selections. As of October 31, 2024 , approximately $1.8 million , or 62%, of its accounts receivable balance as of June 30, 2024 were collected, and approximately $9.9 million , or 93%, of its advances to supplier balance as of June 30, 2024 were utilized. In addition, the Company's Form F-3 registration was declared effective on August 31, 2022 , and the Company may also seek equity financing from outside investors if necessary. Based on the latest business plan of the Company, Shanghai Juhao has reduced its promotion efforts and marketing expenditures since the second half of 2023, which reduced the cash used in operating activities. Management believes that the above-mentioned factors, including cash on hand of approximately $0.8 million , will provide sufficient liquidity for the Company to meet its future liquidity and capital requirements for at least the next twelve months. About Jowell Global Ltd . Jowell Global Ltd. (the "Company") is one of the leading cosmetics, health and nutritional supplements and household products e-commerce platforms in China . We offer our own brand products to customers and also sell and distribute health and nutritional supplements, cosmetic products and certain household products from other companies on our platform. In addition, we allow third parties to open their own stores on our platform for a service fee based upon sale revenues generated from their online stores and we provide them with our unique and valuable information about market needs, enabling them to better manage their sales effort, as well as an effective platform to promote their brands. The Company also sells its products through authorized retail stores all across China , which operate under the brand names of " Love Home Store " or "LHH Store" and "Best Choice Store". For more information, please visit http://ir.1juhao.com/ . Exchange Rate The Company's financial information is presented in U.S. dollars ("USD"). The functional currency of the Company is the Chinese Yuan, Renminbi ("RMB"), the currency of the PRC. Any transactions which are denominated in currencies other than RMB are translated into RMB at the exchange rate quoted by the People's Bank of China prevailing at the dates of the transactions, and exchange gains and losses are included in the statements of operations as foreign currency transaction gain or loss. The consolidated financial statements of the Company have been translated into U.S. dollars in accordance with ASC 830, "Foreign Currency Matters". This press release contains translations of certain RMB amounts into U.S. dollars ("USD" or "$") at specified rates solely for the convenience of the reader. The exchange rates in effect as of June 30, 2024 and December 31, 2023 were RMB1 for $0.1403 and $0.1412 , respectively. The average exchange rates for the six months ended June 30, 2024 and 2023 were RMB1 for $0.1407 and $0.1444 , respectively. Safe Harbor Statement This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; financial condition and results of operations; product and service demand and acceptance; reputation and brand; the impact of competition and pricing; changes in technology; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov . The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. For investor and media inquiries, please contact: Jowell Global Ltd. Ms. Jessie Zhao Email: [email protected] SOURCE Jowell Global Ltd.
Jowell Global Ltd. Announces First Half 2024 Unaudited Financial Results
Ball security, rebounding key for CU Buffs in rematch against No. 3 Iowa StateAustralia’s sharemarket is likely to open lower after a sell-off in the world’s largest technology companies hit US stocks in the final stretch of a stellar year. Futures are pointing to a drop of 0.35 per cent, or 29 points, on Monday morning across the local bourse, to 8228, as traders take stock of a pullback in the US last week. Nasdaq, one of the “Magnificent Seven” companies, bore the brunt of last week’s selling. Credit: Bloomberg In the US, during a session of slim trading volume – which tends to amplify moves – the S&P 500 lost 1.1 per cent and the Nasdaq 100 slipped 1.4 per cent. While every major industry succumbed to Friday’s slide, tech megacaps bore the brunt of the selling. That’s after a torrid surge in which the group of companies dubbed the “Magnificent Seven” accounted for more than half of the US equity benchmark’s gains in 2024. “I think Santa has already come. Have you seen the performance this year?” said Kenny Polcari from financial advising firm SlateStone Wealth. “[This] week is another holiday-shortened week, volumes will be light, moves will be exaggerated. Don’t make any major investing decisions this week.” Steve Sosnick, from Interactive Brokers said while the market was in holiday season, he had fielded more inquiries than expected. “The best I can figure out is that there are large accounts, pension funds and the like, who need to rebalance their holdings before year-end,” he said. The S&P 500 and the Nasdaq 100 trimmed last week’s gains. The Dow Jones Industrial Average slipped 0.8 per cent on Friday. A gauge of the “Magnificent Seven” sank 2 per cent, led by losses in Tesla and Nvidia. The Russell 2000 index of small caps dropped 1.6 per cent. The yield on 10-year Treasuries rose 4 basis points to 4.62 per cent. The Bloomberg Dollar Spot Index wavered. Funds tied to several of the major themes that have driven markets and fund flows over the past three years stumbled during the week ending Christmas Day, according to data compiled by EPFR. Redemptions from cryptocurrency funds hit a record high while technology sector funds extended their longest outflow streak since the first week of 2023, the firm said. This year’s rally in US equities has driven the expectations for stocks so high that it may turn out to be the biggest hurdle for further gains in the new year. And the bar is even higher for tech stocks, given their massive surge in 2024. A Bloomberg Intelligence analysis recently found that analysts estimate a nearly 30 per cent earnings growth for the sector next year, but tech’s market-cap share of the S&P 500 index implies closer to 40 per cent growth expectations may be embedded in the stocks. “The market’s largest companies and other related technology darlings are still being awarded significant premiums,” said Jason Pride and Michael Reynolds at Glenmede. “Excessive valuations leave room for downside if earnings fail to meet expectations. Market concentration should reward efforts to regularly diversify portfolios.” Bloomberg The Market Recap newsletter is a wrap of the day’s trading. Get it each weekday afternoon .Israel has agreed to a ceasefire to stop the war it has been fighting with the Iran-backed militant group Hezbollah in Lebanon for more than a year. “The Security Cabinet approved the United States’ proposal for a ceasefire agreement in Lebanon this evening, with a majority of 10 ministers in favor and one opposed,” the office of Israeli Prime Minister Benjamin Netanyahu said in a statement late Tuesday. The announcement came during some of the heaviest fighting between Israel and Hezbollah in months, with Israeli airstrikes hitting Beirut and Israeli troops pushing deeper into southern Lebanon on Tuesday, as Hezbollah fired rockets into northern Israel. President Biden welcomed the news, saying, “This is designed to be a permanent cessation of hostilities.” Hezbollah — a militant and political force in Lebanon backed by Iran and listed as a terrorist organization by the U.S., Israel and several other countries — started launching rockets into Israel a day after the Palestinian militant group Hamas led an attack on southern Israel on Oct. 7, 2023, setting off the war in Gaza. Israel has launched extensive airstrikes across Lebanon, including one in September that killed Hezbollah’s longtime leader Hassan Nasrallah . Israel also sent ground troops into southern Lebanon, saying it was fighting to push the militants away from the border so that thousands of evacuated residents who fled Hezbollah’s rockets in northern Israel could return safely. Almost 14 months of the Israeli military campaign in Lebanon has killed more than 3,700 people, many of them civilians, according to the Lebanese Health Ministry, and close to 1 million people have been displaced across Lebanon, according to the United Nations. In northern Israel, about 80 people, including soldiers and civilians, have been killed in the fighting and about 60,000 residents have evacuated since October 2023, according to the Israeli government. Before the Cabinet vote, Netanyahu laid out his reasons for supporting the ceasefire, including saying that Israel has dismantled much of Hezbollah’s fighting capabilities and killed many senior officials. But he warned that Israel retains the right to attack Hezbollah again if necessary. “In full coordination with the United States, we are maintaining full military freedom of action,” Netanyahu said in his TV address. “If Hezbollah violates the agreement or attempts to rearm, we will strike.” Lebanese Prime Minister Najib Mikati welcomed the ceasefire, thanking the United States and France for helping facilitate the deal. “This understanding, which outlined a roadmap for the cessation of hostilities, was reviewed by me this evening, and I consider it a key step towards establishing calm and stability in Lebanon and enabling the return of displaced people to their homes and towns,” Mikati said. “It also contributes to promoting regional stability.” Speaking in the White House Rose Garden Tuesday, Biden explained that the deal will take effect 4 a.m. Wednesday. Then over the next 60 days, the Lebanese army and state security forces will take control of their territory, and Israel will gradually withdraw. The United States, France and other countries will work to help ensure the agreement is implemented, but no U.S. troops will be deployed in southern Lebanon, he said. The Lebanese military — which is separate from Hezbollah and has tried to stay out of the fight with Israel — and a United Nations peacekeeping force in Lebanon are expected to deploy thousands of soldiers in southern Lebanon, as an international panel monitors compliance by the different sides, The Associated Press reported . But concerns in Israel and Lebanon remain about how long the ceasefire can hold and whether civilians can be kept safe. “This agreement is not good because it does not require the Lebanese army and government to disarm Hezbollah,” Avigdor Lieberman, an opponent of Netanyahu who is a lawmaker in Israeli parliament, said Monday before the vote. “It’s going to be difficult for Netanyahu to sell this” to the northern Israeli evacuees, Amos Harel, a former nonresident senior fellow at the Brookings Institution in Washington, D.C., and a journalist at Israel’s Haaretz newspaper. And the deal left questions about what happens next for the war in Gaza. Biden said the U.S. would make a push in the coming days with Turkey, Egypt, Qatar and others to reach a ceasefire and hostage deal in Gaza. He also said the United States remains ready to conclude an agreement with Saudi Arabia that would normalize relations with Israel and include a security pact and economic assurances, with a pathway for a Palestinian state. Willem Marx reported from London. Daniel Estrin contributed reporting from Jerusalem and Jawad Rizkallah contributed from Beirut. Franco Ordoñez contributed reporting from Washington, D.C.
Australia’s sharemarket is likely to open lower after a sell-off in the world’s largest technology companies hit US stocks in the final stretch of a stellar year. Futures are pointing to a drop of 0.35 per cent, or 29 points, on Monday morning across the local bourse, to 8228, as traders take stock of a pullback in the US last week. Nasdaq, one of the “Magnificent Seven” companies, bore the brunt of last week’s selling. Credit: Bloomberg In the US, during a session of slim trading volume – which tends to amplify moves – the S&P 500 lost 1.1 per cent and the Nasdaq 100 slipped 1.4 per cent. While every major industry succumbed to Friday’s slide, tech megacaps bore the brunt of the selling. That’s after a torrid surge in which the group of companies dubbed the “Magnificent Seven” accounted for more than half of the US equity benchmark’s gains in 2024. “I think Santa has already come. Have you seen the performance this year?” said Kenny Polcari from financial advising firm SlateStone Wealth. “[This] week is another holiday-shortened week, volumes will be light, moves will be exaggerated. Don’t make any major investing decisions this week.” Steve Sosnick, from Interactive Brokers said while the market was in holiday season, he had fielded more inquiries than expected. Loading “The best I can figure out is that there are large accounts, pension funds and the like, who need to rebalance their holdings before year-end,” he said. The S&P 500 and the Nasdaq 100 trimmed last week’s gains. The Dow Jones Industrial Average slipped 0.8 per cent on Friday. A gauge of the “Magnificent Seven” sank 2 per cent, led by losses in Tesla and Nvidia. The Russell 2000 index of small caps dropped 1.6 per cent. The yield on 10-year Treasuries rose 4 basis points to 4.62 per cent. The Bloomberg Dollar Spot Index wavered.BEAVERTON, Ore.--(BUSINESS WIRE)--Dec 19, 2024-- NIKE, Inc. (NYSE:NKE) today reported fiscal 2025 financial results for its second quarter ended November 30, 2024. "After an energizing 60 days of being back with my NIKE teammates, our clear priority is to return sport to the center of everything we do," said Elliott Hill, President & CEO, NIKE, Inc. "We're taking immediate action to reposition our business, so we can get back to driving long-term shareholder value. Our team is ready to go, and I'm confident you will see more moments of NIKE being NIKE again." "NIKE's second-quarter financial performance largely met our expectations, as we continue to make progress in shifting our portfolio," said Matthew Friend, Executive Vice President and Chief Financial Officer, NIKE, Inc. "Under Elliott's leadership, we are accelerating our pace and reigniting brand momentum through sport." Second Quarter Income Statement Review November 30, 2024 Balance Sheet Review Shareholder Returns NIKE continues to have a strong track record of consistently increasing returns to shareholders, including 23 consecutive years of increasing dividend payouts. In the second quarter, the Company returned approximately $1.6 billion to shareholders, including: As of November 30, 2024, a total of 112.8 million shares have been repurchased under the program for a total of approximately $11.3 billion. Conference Call NIKE, Inc. management will host a conference call beginning at approximately 2:00 p.m. PT on December 19, 2024, to review fiscal second quarter results. The conference call will be broadcast live via the Internet and can be accessed at https://investors.nike.com . For those unable to listen to the live broadcast, an archived version will be available at the same location through approximately 9:00 p.m. PT, January 10, 2025. About NIKE, Inc. NIKE, Inc., based near Beaverton, Oregon, is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Converse, a wholly-owned NIKE, Inc. subsidiary brand, designs, markets and distributes athletic lifestyle footwear, apparel and accessories. For more information, NIKE, Inc.’s earnings releases and other financial information are available on the Internet at https://investors.nike.com . Individuals can also visit https://news.nike.com and follow @NIKE. Forward-Looking Statements This press release contains forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties are detailed from time to time in reports filed by NIKE with the U.S. Securities and Exchange Commission (SEC), including Forms 8-K, 10-Q and 10-K. * Non-GAAP financial measure. See additional information in the accompanying Divisional Revenues. NIKE, Inc. CONSOLIDATED STATEMENTS OF INCOME (Unaudited) THREE MONTHS ENDED % SIX MONTHS ENDED % (In millions, except per share data) 11/30/2024 11/30/2023 Change 11/30/2024 11/30/2023 Change Revenues $ 12,354 $ 13,388 -8 % $ 23,943 $ 26,327 -9 % Cost of sales 6,965 7,417 -6 % 13,297 14,636 -9 % Gross profit 5,389 5,971 -10 % 10,646 11,691 -9 % Gross margin 43.6 % 44.6 % 44.5 % 44.4 % Demand creation expense 1,122 1,114 1 % 2,348 2,183 8 % Operating overhead expense 2,883 3,032 -5 % 5,705 6,079 -6 % Total selling and administrative expense 4,005 4,146 -3 % 8,053 8,262 -3 % % of revenues 32.4 % 31.0 % 33.6 % 31.4 % Interest expense (income), net (24 ) (22 ) — (67 ) (56 ) — Other (income) expense, net (8 ) (75 ) — (63 ) (85 ) — Income before income taxes 1,416 1,922 -26 % 2,723 3,570 -24 % Income tax expense 253 344 -26 % 509 542 -6 % Effective tax rate 17.9 % 17.9 % 18.7 % 15.2 % NET INCOME $ 1,163 $ 1,578 -26 % $ 2,214 $ 3,028 -27 % Earnings per common share: Basic $ 0.78 $ 1.04 -25 % $ 1.48 $ 1.99 -26 % Diluted $ 0.78 $ 1.03 -24 % $ 1.48 $ 1.97 -25 % Weighted average common shares outstanding: Basic 1,486.8 1,520.8 1,492.3 1,524.6 Diluted 1,490.0 1,532.1 1,495.9 1,537.7 Dividends declared per common share $ 0.400 $ 0.370 $ 0.770 $ 0.710 NIKE, Inc. CONSOLIDATED BALANCE SHEETS (Unaudited) November 30, November 30, % Change (Dollars in millions) 2024 2023 ASSETS Current assets: Cash and equivalents $ 7,979 $ 7,919 1 % Short-term investments 1,782 2,008 -11 % Accounts receivable, net 5,302 4,782 11 % Inventories 7,981 7,979 0 % Prepaid expenses and other current assets 1,936 1,943 0 % Total current assets 24,980 24,631 1 % Property, plant and equipment, net 4,857 5,153 -6 % Operating lease right-of-use assets, net 2,736 2,943 -7 % Identifiable intangible assets, net 259 269 -4 % Goodwill 240 281 -15 % Deferred income taxes and other assets 4,887 3,926 24 % TOTAL ASSETS $ 37,959 $ 37,203 2 % LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Current portion of long-term debt $ 1,000 $ — 100 % Notes payable 49 6 717 % Accounts payable 3,255 2,709 20 % Current portion of operating lease liabilities 481 456 5 % Accrued liabilities 5,694 5,470 4 % Income taxes payable 767 358 114 % Total current liabilities 11,246 8,999 25 % Long-term debt 7,973 8,930 -11 % Operating lease liabilities 2,562 2,785 -8 % Deferred income taxes and other liabilities 2,141 2,343 -9 % Redeemable preferred stock — — — Shareholders’ equity 14,037 14,146 -1 % TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 37,959 $ 37,203 2 % NIKE, Inc. DIVISIONAL REVENUES (Unaudited) % Change Excluding Currency Changes 1 % Change Excluding Currency Changes 1 THREE MONTHS ENDED SIX MONTHS ENDED (Dollars in millions) 11/30/2024 11/30/2023 % Change 11/30/2024 11/30/2023 % Change North America Footwear $ 3,236 $ 3,757 -14 % -14 % $ 6,448 $ 7,490 -14 % -14 % Apparel 1,693 1,668 1 % 1 % 3,024 3,147 -4 % -4 % Equipment 250 200 25 % 25 % 533 411 30 % 30 % Total 5,179 5,625 -8 % -8 % 10,005 11,048 -9 % -9 % Europe, Middle East & Africa Footwear 1,982 2,186 -9 % -12 % 3,934 4,446 -12 % -12 % Apparel 1,136 1,200 -5 % -8 % 2,129 2,337 -9 % -10 % Equipment 185 181 2 % -1 % 383 394 -3 % -4 % Total 3,303 3,567 -7 % -10 % 6,446 7,177 -10 % -11 % Greater China Footwear 1,203 1,361 -12 % -14 % 2,449 2,648 -8 % -8 % Apparel 472 469 1 % -3 % 832 870 -4 % -6 % Equipment 36 33 9 % 9 % 96 80 20 % 21 % Total 1,711 1,863 -8 % -11 % 3,377 3,598 -6 % -7 % Asia Pacific & Latin America Footwear 1,234 1,303 -5 % -4 % 2,286 2,444 -6 % -3 % Apparel 437 437 0 % 0 % 785 808 -3 % -1 % Equipment 73 65 12 % 10 % 135 125 8 % 10 % Total 1,744 1,805 -3 % -2 % 3,206 3,377 -5 % -2 % Global Brand Divisions 2 13 12 8 % -2 % 27 25 8 % 9 % TOTAL NIKE BRAND 11,950 12,872 -7 % -8 % 23,061 25,225 -9 % -9 % Converse 429 519 -17 % -18 % 930 1,107 -16 % -16 % Corporate 3 (25 ) (3 ) — — (48 ) (5 ) — — TOTAL NIKE, INC. REVENUES $ 12,354 $ 13,388 -8 % -9 % $ 23,943 $ 26,327 -9 % -9 % TOTAL NIKE BRAND Footwear $ 7,655 $ 8,607 -11 % -12 % $ 15,117 $ 17,028 -11 % -11 % Apparel 3,738 3,774 -1 % -2 % 6,770 7,162 -5 % -6 % Equipment 544 479 14 % 12 % 1,147 1,010 14 % 13 % Global Brand Divisions 2 13 12 8 % -2 % 27 25 8 % 9 % TOTAL NIKE BRAND REVENUES $ 11,950 $ 12,872 -7 % -8 % $ 23,061 $ 25,225 -9 % -9 % 1 The percent change has been calculated using actual exchange rates in use during the comparative prior year period and is provided to enhance the visibility of the underlying business trends by excluding the impact of translation arising from foreign currency exchange rate fluctuations, which is considered a non-GAAP financial measure. Management uses this non-GAAP financial measure when evaluating the Company's performance, including when making financial and operating decisions. Additionally, management believes this non-GAAP financial measure provides investors with additional financial information that should be considered when assessing the Company's underlying business performance and trends. References to this measure should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with U.S. GAAP and may not be comparable to similarly titled non-GAAP measures used by other companies. 2 Global Brand Divisions revenues include NIKE Brand licensing and other miscellaneous revenues that are not part of a geographic operating segment. 3 Corporate revenues primarily consist of foreign currency hedge gains and losses related to revenues generated by entities within the NIKE Brand geographic operating segments and Converse, but managed through the Company's central foreign exchange risk management program. NIKE, Inc. EARNINGS BEFORE INTEREST AND TAXES 1 (Unaudited) THREE MONTHS ENDED % SIX MONTHS ENDED % (Dollars in millions) 11/30/2024 11/30/2023 Change 11/30/2024 11/30/2023 Change North America $ 1,371 $ 1,526 -10 % $ 2,587 $ 2,960 -13 % Europe, Middle East & Africa 831 927 -10 % 1,623 1,857 -13 % Greater China 375 514 -27 % 877 1,039 -16 % Asia Pacific & Latin America 460 521 -12 % 862 935 -8 % Global Brand Divisions 2 (1,133 ) (1,168 ) 3 % (2,360 ) (2,373 ) 1 % TOTAL NIKE BRAND 1 1,904 2,320 -18 % 3,589 4,418 -19 % Converse 53 115 -54 % 174 282 -38 % Corporate 3 (565 ) (535 ) -6 % (1,107 ) (1,186 ) 7 % TOTAL NIKE, INC. EARNINGS BEFORE INTEREST AND TAXES 1 1,392 1,900 -27 % 2,656 3,514 -24 % EBIT margin 1 11.3 % 14.2 % 11.1 % 13.3 % Interest expense (income), net (24 ) (22 ) — (67 ) (56 ) — TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES $ 1,416 $ 1,922 -26 % $ 2,723 $ 3,570 -24 % 1 The Company evaluates the performance of individual operating segments based on earnings before interest and taxes (commonly referred to as "EBIT"), which represents Net income before Interest expense (income), net and Income tax expense. Total NIKE Brand EBIT, Total NIKE, Inc. EBIT and EBIT margin are considered non-GAAP financial measures. Management uses these non-GAAP financial measures when evaluating the Company's performance, including when making financial and operating decisions. Additionally, management believes these non-GAAP financial measures provide investors with additional financial information that should be considered when assessing the Company’s underlying business performance and trends. EBIT margin is calculated as total NIKE, Inc. EBIT divided by total NIKE, Inc. Revenues. References to EBIT and EBIT margin should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with U.S. GAAP and may not be comparable to similarly titled non-GAAP measures used by other companies. 2 Global Brand Divisions primarily represent demand creation and operating overhead expense, including product creation and design expenses that are centrally managed for the NIKE Brand, as well as costs associated with NIKE Direct global digital operations and enterprise technology. Global Brand Divisions revenues include NIKE Brand licensing and other miscellaneous revenues that are not part of a geographic operating segment. 3 Corporate consists primarily of unallocated general and administrative expenses, including expenses associated with centrally managed departments; depreciation and amortization related to the Company’s corporate headquarters; unallocated insurance, benefit and compensation programs, including stock-based compensation; and certain foreign currency gains and losses, including certain hedge gains and losses. View source version on businesswire.com : https://www.businesswire.com/news/home/20241219682756/en/ CONTACT: Investor Contact: Paul Trussell investor.relations@nike.comMedia Contact: Virginia Rustique-Petteni media.relations@nike.com KEYWORD: OREGON UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: FASHION FOOTWEAR RETAIL SPORTS DEPARTMENT STORES GENERAL SPORTS SOURCE: NIKE, Inc. Copyright Business Wire 2024. PUB: 12/19/2024 04:15 PM/DISC: 12/19/2024 04:15 PM http://www.businesswire.com/news/home/20241219682756/en