Author: Newsdesk

In
partnership with Dubai Sports Cou
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nominees include
Cristiano Ronaldo, Lionel Messi
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Robert Lewandowski
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DUBAI, UAE, Nov. 23, 2020 (GLOBE NEWSWIRE) — The Dubai Sports Council and Globe Soccer Awards further strengthen their 12-year relationship by staging the annual edition of the Dubai International Sports Conference, complemented with a special edition of Dubai Globe Soccer Awards at Armani Hotel, situated at the foot of the world’s tallest building, on the 27 December 2020.

The Dubai International Sports Conference, which hosted over 200 speakers since its first edition, will once again welcome some of the football’s most prominent international players; while the Globe Soccer Awards, which recognised more than 100 winners who have shown outstanding performances in the game, will present new categories this year.

In light of the global impact of Covid-19, this year’s Dubai Globe Soccer Awards will be a special edition, highlighting 2020’s top talent alongside legendary players, clubs and agents from the past 20 years. For the first time, four of the awards will consider the seasons contested by the nominees between 2001 and 2020 in a unique series that celebrates the Best of the Century.

Juventus FC player Cristiano Ronaldo is nominated for both Player of the Century and Player of the Year 2020 alongside FC Barcelona’s Lionel Messi. After an impressive season winning the UEFA Champions League with Bayern Munich, Robert Lewandowski is shortlisted for Player of the Year 2020 along with local soccer star, Egypt’s Mohamed Salah, who won the Premier League with Liverpool.

The Dubai Globe Soccer Awards will be broadcast live via satellite and live streaming all over the world.

The eight categories in contention this year are as follows:

• Player of the Century 2001-2020
• Coach of the Century 2001-2020
• Club of the Century 2001-2020
• Agent of the Century 2001-2020
• Player of the Year 2020
• Club of the Year 2020
• Coach of the Year 2020
• Player Career Award

Tommaso Bendoni, CEO of Dubai Globe Soccer has announced, “This special edition is dedicated to all the protagonists in football who exposed themselves to the risk of the virus, gave up their vacations and rest in order to play every three days, travelled all around the world in order to offer millions of people a few moments of distraction.”
“Dubai could not miss this event in the most difficult and complicated season. The 2020 edition is our way to show our appreciation and celebrate everyone in football who remained at the frontline and have done extraordinary job. This is also our way to celebrate the new year 2021, which will give us hope – thanks to the vaccine that will be available soon!”

“All of these will not be possible without the support of our partners. We thank the sensibility and love that the UAE and the Dubai Sports Council have demonstrated to this sport. Our collaboration will continue in light of the EXPO in 2021 where the Globe Soccer Awards will have the greatest celebration ever.”

“For the first time we will allow fans from all over the world to be involved and choose their favourite players. We will also award the best of the best in the football industry for the last 20 years.”

Nominees and eventual winners will be chosen by the fans and the Globe Soccer Jury, a panel of leading industry experts.

In an unprecedented step for the Awards, the first shortlist will be entirely decided by the fans. The public can vote through vote.globesoccer.com from today for their favourite nominee in each category, with the finalists being announced in early December. Voting will take place on Globe Soccer’s website, on the new event title sponsor TikTok, as well as via our media partners platform such as Kooora in the Arab region. More information about this will be shared via our social media channels in the coming days.

The first 20 years of the 21^st century have seen incredible development and amazing drama on the international stage of football. This year Globe Soccer made the decision to showcase many of the personalities and organisations that have been part of this remarkable achievement.

Shortlisted in the category of Player of the Century 2001-2020 are an extraordinary array of over 25 international names including British legend David Beckham, Lionel Messi, Neymar, Cristiano Ronaldo and Mohamed Salah. The equally illustrious names of Didier Deschamps, Alex Ferguson and Josep Guardiola, all stalwarts of the game, stand out in the competition for Coach of the Century 2001-2020. Joining them in this stellar group is one of the most outstanding managers of all time, José Mourinho, who is in good company with other giants of the game such as Carlo Ancelotti and current manager of Real Madrid, Zinedine Zidane.

Among the nominees for the Club of the Century 2001-2020 are famed contenders such as Barcelona, Manchester United and Real Madrid, while the Agent of the Century 2001-2020 is also a highly competitive category with the possibility of Jorge Mendes winning for the 10th time.

In this most unusual year, sport, and in particular football, has played a big role in keeping people’s spirits up. This is why Globe Soccer decided to not only name Best Player of the Year for 2020, but also to give accolades to Best Coach and Best Club.

Some of the sport’s most famous stars are up for the Player of the Year 2020 award again this year, including Robert Lewandowski, Cristiano Ronaldo, Lionel Messi and Karim Benzema. Meanwhile the Club of the Year 2020 award is once again up for grabs with six international clubs including Liverpool, Real Madrid and Paris Saint-Germain in the mix. And there is just as much eager anticipation for the naming of Coach of the Year 2020, which sees Jurgen Klopp looking to defend last year’s win. Klopp is already renowned for winning the UEFA Champions League, the UEFA Super Cup and the FIFA Club World Cup as manager of Liverpool.

The eight awards that will be presented during the ceremony on 27 December 2020:

Player of the Century 2001-2020	Coach of the Century 2001-2020
Andrea Pirlo Andriy Shevchenko Andrés Iniesta Arjen Robben Cristiano Ronaldo David Beckham Fabio Cannavaro Francesco Totti Frank Lampard Gianluigi Buffon Iker Casillas Kaká Kylian Mbappe Lionel Messi Luis Figo Luka Modrić  Manuel Neuer Mohamed Salah Neymar Philipp Lahm Robert Lewandowski Ronaldinho Ronaldo Sergio Ramos Steven Gerrard Xavi Zlatan Ibrahimović Zinedine Zidane	Alex Ferguson Carlo Ancelotti Didier Deschamps Joachim Löw José Mourinho Josep Guardiola Luiz Felipe Scolari Marcello Lippi Vicente Del Bosque Zinedine Zidane
Club of the Century 2001-2020	Agent of the Century 2001-2020
Al Ahly Barcelona Bayern Munich Juventus Liverpool Manchester United Paris S. Germain Real Madrid	Giovanni Branchini Jonathan Barnett Jorge Mendes Mino Raiola Pini Zahavi
Player of the Year 2020	Club of the Year 2020
Ciro Immobile Cristiano Ronaldo Karim Benzema Lionel Messi Marquinhos Robert Lewandowski Sadio Mané  Serge Gnabry	Bayern Munich Juventus Liverpool Paris Saint-Germain Real Madrid Sevilla FC
Coach of the Year 2020	Player Career Award
Gian Piero Gasperini Hans Dieter Flick Julen Lopetegui Jürgen Klopp Thomas Tuchel	To be announced

-ENDS-

Notes to Editors

About the Dubai Globe Soccer Awards

The annual Dubai Globe Soccer Awards were established in 2010 with the aim of recognising not just the best players and coaches, but also the people who work behind the scenes who had not previously been acknowledged. The great success of the event over the years has seen further categories added to the awards list, and the event now honours all the best in football. www.globesoccer.com  

Full Press Kit can be viewed/downloaded here:

https://www.dropbox.com/sh/eyvit9j9x9w7m2f/AABZ418inHGhps3K-C3J_EGqa?dl=0

For more information, please do not hesitate to contact:

Twister Communications Middle East

Sheila Tobias or Mai Touma
[email protected] or [email protected]e
Office: +9714 432 1195
Mobile: +971 55 872 3009 or +971557684150

Photos accompanying this announcement are available at :

https://www.globenewswire.com/NewsRoom/AttachmentNg/66f952ac-719e-44f9-a07f-9f5d4b482b0a



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European Commission approves MenQuadfi^®, the latest innovation in meningococcal (MenACWY) vaccination for individuals 12 months of age and older

• EC approval based on robust data from seven pivotal Phase 2 and 3 trials^{1,2,3,4,5,6,7} involving more than 6,300 individuals aged 12 months and older
• First quadrivalent meningococcal conjugate vaccine available in Europe in a fully liquid presentation, avoiding the need for vaccine reconstitution
• Meningococcal disease is a rare but highly unpredictable deadly bacterial infection, with more than 3,000 cases per year in Europe⁸

  

PARIS – November 23 – The European Commission (EC) has approved MenQuadfi^® for active immunization of individuals from the age of 12 months and older against invasive meningococcal disease caused by Neisseria meningitidis serogroups A, C, W and Y.⁹

“Meningococcal meningitis can take one’s life in as little as one day and leave survivors with severe permanent disabilities.^10,11 In Europe, there were more than 3,000 cases of Invasive Meningococcal Disease in 2018, half of them caused by serogroups C, W and Y,”

⁸
says Thomas Triomphe, Head of Sanofi Pasteur. “One case is one too many. It is our ambition to make this vaccine available worldwide to further expand protection to as many people as possible. The European Commission’s approval of MenQuadfi takes us one step closer to achieving this goal.”

Efficacy and safety profiles for MenQuadfi confirmed in robust clinical program

The European Commission’s decision is based upon results from a robust and comprehensive international clinical program, including seven pivotal Phase 2 and 3 randomized, active-controlled, multi-center studies. The immunogenicity and safety of MenQuadfi were evaluated in over 6,300 healthy individuals aged 12 months and older, who received a single dose of MenQuadfi.^{1,2,3,4,5,6,7}

MenQuadfi was compared with other licensed combination vaccines across all age groups. It demonstrated a good safety profile and induced a high immune response against all four serogroups (A, C, W and Y) consistently across all studies.^{1,2,3,4,5,6,7}

“The introduction of a new vaccine against four of the major serogroups of meningococcal disease is very welcome news. The disease is unpredictable and remains the biggest cause of sepsis and septic shock in children across Europe today,¹²” says Professor Federico Martinón-Torres, Pediatrician and Clinical Researcher, Head of Pediatrics and Vaccine Research Unit at Hospital Clínico Universitario de Santiago in Spain. “Meningococcal disease is vaccine-preventable but, in spite of its threat, there is currently no common immunization schedule for it in Europe. The approval of MenQuadfi in Europe will contribute to our efforts to protect against, and help defeat, this truly devastating disease.”

In order to better address the global need for meningococcal disease prevention over the life course, Phase 3 studies are ongoing to investigate the vaccine in infants from 6 weeks of age.^{13,14,15,16,17,18}

Invasive meningococcal disease remains a major public health challenge

Invasive meningococcal disease (IMD) epidemiology is highly unpredictable and varies widely across geographies and over time. In Europe, with the increase in incidence of IMD caused by hypervirulent serogroup W, several countries have introduced MenACWY conjugate vaccination into their routine vaccination schedules. However, considerable variation remains between European countries, leaving room for outbreaks in unprotected and vulnerable populations.¹⁹

In 2018, 3,233 individuals contracted invasive meningococcal disease in Europe, and approximately 1 in 10 did not survive. Of the total number of cases, 2,911 were reported to be serogroups B, C, W or Y, of which almost half (47%) were serogroup C, W or Y.⁸ Rates were highest in infants, followed by children under 5 years, with a second peak in those aged 15–24 years.⁸

About MenQuadfi

MenQuadfi benefits from Sanofi’s latest advancements in chemical design and delivers optimized stability while maintaining the vaccine in a convenient, fully liquid presentation. The vaccine can be administered as a single dose, supporting primary and booster vaccination to a wide age group, ranging from 12-month-old toddlers to children, adolescents, adults and the elderly. It can also be co-administered with multiple routine pediatric and adolescent vaccines.^2,4

The safety of a single dose of MenQuadfi was evaluated in 6,308 individuals 12 months of age and older. The most frequently reported adverse reactions in toddlers 12–23 months of age were irritability and injection site tenderness. Those in vaccine recipients aged 2 years and above were myalgia and injection site pain. These adverse reactions were mostly mild or moderate in intensity. Immune non-inferiority was consistently demonstrated across all age groups for all four serogroups and versus all comparator vaccines.

Following EC approval, MenQuadfi is expected to be available in several European countries from 2021 to help protect individuals 12 months of age and older.

MenQuadfi is licensed by the Food and Drug Administration (FDA) in the United States for the prevention of Invasive Meningococcal Disease in individuals 2 years of age and older, and is currently under review by several health authorities across the world to help meet local immunization efforts.

  

About Sanofi   Sanofi is dedicated to supporting people through their health challenges. We are a global biopharmaceutical company focused on human health. We prevent illness with vaccines, provide innovative treatments to fight pain and ease suffering. We stand by the few who suffer from rare diseases and the millions with long-term chronic conditions.   With more than 100,000 people in 100 countries, Sanofi is transforming scientific innovation into healthcare solutions around the globe.   Sanofi, Empowering Life
Media Relations Contact Nicolas Kressmann Tel.: +1 (732) 532-5318 [email protected]	Investor Relations Contacts Paris Eva Schaefer-Jansen Arnaud Delepine Yvonne Naughton   Investor Relations Contacts North America Felix Lauscher Fara Berkowitz Suzanne Greco   IR main line: Tel.: +33 (0)1 53 77 45 45 [email protected]
Sanofi Forward-Looking Statements This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that are not historical facts. These statements include projections and estimates regarding the marketing and other potential of the product, or regarding potential future revenues from the product. Forward-looking statements are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates”, “plans” and similar expressions. Although Sanofi’s management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Sanofi, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include among other things, unexpected regulatory actions or delays, or government regulation generally, that could affect the availability or commercial potential of the product, the fact that product may not be commercially successful, the uncertainties inherent in research and development, including future clinical data and analysis of existing clinical data relating to the product, including post marketing, unexpected safety, quality or manufacturing issues, competition in general, risks associated with intellectual property and any related future litigation and the ultimate outcome of such litigation, and volatile economic and market conditions, and the impact that COVID-19 will have on us, our customers, suppliers, vendors, and other business partners, and the financial condition of any one of them, as well as on our employees and on the global economy as a whole.  Any material effect of COVID-19 on any of the foregoing could also adversely impact us. This situation is changing rapidly and additional impacts may arise of which we are not currently aware and may exacerbate other previously identified risks. The risks and uncertainties also include the uncertainties discussed or identified in the public filings with the SEC and the AMF made by Sanofi, including those listed under “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements” in Sanofi’s annual report on Form 20-F for the year ended December 31, 2019. Other than as required by applicable law, Sanofi does not undertake any obligation to update or revise any forward-looking information or statements.

¹ EU Clinical Trials Register. 2016-000749-30 (MET51) results summary. November 2018. Available at: https://www.clinicaltrialsregister.eu/ctr-search/trial/2016-000749-30/results [accessed September 2020].

² EU Clinical Trials Register. 2018-001472-38 (MET57) results summary. August 2019. Available at: https://www.clinicaltrialsregister.eu/ctr-search/trial/2018-001472-38/results [accessed September 2020].

³ EU Clinical Trials Register. 2018-001471-20 (MET35) results summary. December 2018. Available at: https://www.clinicaltrialsregister.eu/ctr-search/trial/2018-001471-20/results [accessed September 2020].

⁴ EU Clinical Trials Register. 2016-001963-35 (MET50) results summary. January 2019. Available at: https://www.clinicaltrialsregister.eu/ctr-search/trial/2016-001963-35/results [accessed September 2020].

⁵ EU Clinical Trials Register. 2018-001468-48 (MET43) results summary. December 2018. Available at: https://www.clinicaltrialsregister.eu/ctr-search/trial/2018-001468-48/results [accessed September 2020].

⁶ Clinicaltrials.gov. NCT02842866 (MET49) results summary. February 2020. Available at: https://clinicaltrials.gov/ct2/show/results/NCT02842866 [accessed September 2020]

⁷ Clinicaltrials.gov. NCT02752906 (MET56) results summary. June 2020. Available at: https://clinicaltrials.gov/ct2/show/results/NCT02752906 [accessed September 2020].

⁸ European Centre for Disease Prevention and Control (ECDC). Surveillance Atlas of Infectious Diseases. Available at: https://www.ecdc.europa.eu/en/meningococcal-disease/surveillance-and-disease-data/atlas [accessed September 2020].

⁹ MenQuadfi Summary of Product Characteristics.

¹⁰ Beebeejaun, K et al. (2020). Invasive meningococcal disease: Timing and cause of death in England, 2008–2015. Journal of Infection. Available at: https://doi.org/10.1016/j.jinf.2019.12.008 [accessed September 2020].

¹¹ European Centre for Disease Prevention and Control (ECDC). Factsheet about meningococcal disease. Available at: https://www.ecdc.europa.eu/en/meningococcal-disease/factsheet#:~:text=In%202016%2C%203%20280%20confirmed,Member%20States%20(Figure%201) [accessed September 2020].

¹² Martinón-Torres, F et al. (2018). Life-threatening infections in children in Europe: a prospective cohort study. The Lancet Child & Adolescent Health 2(6):404–414.

¹³ Clinicaltrials.gov. NCT03632720 (MET52) results summary. August 2018. Available at: https://www.clinicaltrials.gov/ct2/show/NCT03632720?term=MET&cond=Meningococcal+Disease&lead=Sanofi+Pasteur&draw=2&rank=1 [accessed September 2020].

¹⁴ Clinicaltrials.gov. NCT03673462 (MET41) results summary. September 2018. Available at: https://clinicaltrials.gov/ct2/show/NCT03673462?term=MET41&draw=2&rank=1 [accessed September 2020].

¹⁵ Clinicaltrials.gov. NCT03691610 (MET61) results summary. October 2018. Available at: https://clinicaltrials.gov/ct2/show/NCT03691610 [accessed September 2020].

¹⁶ Clinicaltrials.gov. NCT03547271 (MET58) results summary. June 2018. Available at: https://www.clinicaltrials.gov/ct2/show/NCT03547271?term=MET&cond=Meningococcal+Disease&lead=Sanofi+Pasteur&draw=2 [accessed September 2020].

¹⁷ Clinicaltrials.gov. NCT03630705 (MET33) results summary. August 2018. Available at: https://www.clinicaltrials.gov/ct2/show/record/NCT03630705?term=MET&cond=Meningococcal+Disease&lead=Sanofi+Pasteur&draw=2&rank=4 [accessed September 2020].

¹⁸ Clinicaltrials.gov. NCT03537508 (MET42) results summary. May 2018. Available at: https://www.clinicaltrials.gov/ct2/show/record/NCT03537508?term=MET&cond=Meningococcal+Disease&lead=Sanofi+Pasteur&draw=2 [accessed September 2020].

¹⁹ Sanofi Pasteur (2020). Meningococcal Disease in Europe: A Rare but Devastating Disease.

 

 

 

 

Attachment

• Press release

WILMINGTON, Del., Nov. 23, 2020 (GLOBE NEWSWIRE) — 5G’s hallmark is the promise to provide ubiquitous connectivity to all consumers and devices. In pursuit of this goal, InterDigital, Inc. (NASDAQ: IDCC), a mobile and video technology research and development company, today announced its participation in AIMM, a research consortium dedicated to AI-Enabled Massive MIMO (AIMM) and pursuing meaningful performance improvements and eventual ubiquity of 5G.

As the AIMM project coordinator, InterDigital organizes a team of esteemed researchers from across industry and academia to explore new AI algorithms and clever uses of massive MIMO configurations to enhance 5G and beyond. Current members of the consortium include British Telecom, Vilicom, University of Bristol, Loughborough University, ThinkRF, Nokia Bell Labs Stuttgart, Universität Stuttgart, and IMST GmbH.

“The AIMM consortium is driving meaningful improvements in 5G, and InterDigital is honored to work alongside such esteemed partners to develop and leverage our industry’s most cutting-edge solutions to enhance the potential of a highly anticipated 5G,” said Alain Mourad, Director of Engineering R&D at InterDigital. “Our tireless work on comprehensive AI algorithms, coupled with the collaborative effort to enhance the RAN through massive MIMO, brings us a step closer to achieving the ubiquitous 5G we seek.”

AIMM consortium members have committed to proposing novel use cases, defining key performance indicators, and quantifying the business imperative for AI-embedded 5G and beyond. AIMM seeks to both optimize the radio interface and radio access network (RAN) by exploring novel antenna configurations and intelligent metasurfaces, building new AI-based algorithms to enhance 5G New Radio and RAN, and validating these enhancements in proof-of-concept experimental testbeds. The AIMM Project will conclude in September 2022.

To learn more about AIMM, please click here.

About InterDigital^®

InterDigital develops mobile and video technologies that are at the core of devices, networks, and services worldwide. We solve many of the industry’s most critical and complex technical challenges, inventing solutions for more efficient broadband networks, better video delivery, and richer multimedia experiences years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world’s leading technology companies. Founded in 1972, InterDigital is listed on NASDAQ and is included in the S&P MidCap 400^® index.

InterDigital is a registered trademark of InterDigital, Inc.

For more information, visit: www.interdigital.com.

InterDigital Contact:

Roya Stephens
Email: [email protected]
+1 (202) 349-1714

OXFORD, United Kingdom, Nov. 23, 2020 (GLOBE NEWSWIRE) — Vaccitech’s scientific founders at University of Oxford announce positive high-level results from an interim analysis of clinical trials of AZD1222 in the UK and Brazil.

• Phase 3 interim analysis including 131 Covid-19 cases indicates that the vaccine is 70.4% effective when combining data from two dosing regimens
• In the two different dose regimens vaccine efficacy was 90% in one and 62% in the other
• Higher efficacy regime used a halved first dose and standard second dose
• Early indication that vaccine could reduce virus transmission from an observed reduction in asymptomatic infections
• There were no hospitalised or severe cases in anyone who received the vaccine
• Large safety database from over 24,000 volunteers from clinical trials in the UK, Brazil and South Africa, with follow up since April
• Crucially, vaccine can be easily administered in existing healthcare systems, stored at ‘fridge temperature’ (2-8 °C) and distributed using existing logistics
• Large scale manufacturing ongoing in over 10 countries to support equitable global access

The vaccine, ChAdOx1 nCoV-19, also known as AZD1222, was co-invented by Vaccitech and Oxford University’s Jenner Institute.

Professor Andrew Pollard, Director of the Oxford Vaccine Group and Chief Investigator of the Oxford Vaccine Trial, said:

“These findings show that we have an effective vaccine that will save many lives. Excitingly, we’ve found that one of our dosing regimens may be around 90% effective and if this dosing regime is used, more people could be vaccinated with planned vaccine supply. Today’s announcement is only possible thanks to the many volunteers in our trial, and the hard working and talented team of researchers based around the world.”

Professor Sarah Gilbert, Professor of Vaccinology at the University of Oxford, said:

“The announcement today takes us another step closer to the time when we can use vaccines to bring an end to the devastation caused by SARS-CoV-2. We will continue to work to provide the detailed information to regulators. It has been a privilege to be part of this multi-national effort which will reap benefits for the whole world.“

The University of Oxford, in collaboration with AstraZeneca plc, today announces interim trial data from its Phase III trials that shows its candidate vaccine, ChAdOx1 nCoV-2019, is effective at preventing COVID-19 (SARS-CoV-2) and offers a high level of protection.

Bill Enright, Vaccitech Chief Executive Officer, remarked:

“The world needs a cost effective, easy to distribute, COVID-19 vaccine that demonstrates safety and works to control the continued spread of this devastating pandemic. Vaccitech is proud to have been a small part of the team, together with Oxford University and AstraZeneca, that moved this vaccine from concept to reality in record time. These latest data give us further confidence in the potential of our ChAdOx technology platform to address other major unmet needs in infectious diseases and cancer.“

Following the trial reaching the target for interim analysis, the independent Data and Safety Monitoring Board (DSMB) recommended that the team at Oxford conduct its first analysis on all the cases with data locked on 4 November 2020.

These preliminary data indicate that the vaccine is 70.4% effective, with tests on two different dose regimes showing that the vaccine was 90% effective if administered at a half dose and then at a full dose, or 62% effective if administered in two full doses.

Additional cases are expected to accrue by the time of the final analysis and future analyses will determine the duration of protection. No serious safety events related to the vaccine have been identified.

Oxford will now support AstraZeneca in submitting both the interim Phase III efficacy data and the extensive safety data to all regulators across the world, including in the UK, Europe and Brazil for independent scrutiny and product approval, including for emergency use. Many of these regulators have been reviewing the trial data on a rolling basis during the trial.

In parallel, Oxford is submitting the full analysis of the Phase III interim data for independent scientific peer review and publication. The coordination of the programme and execution of the trials in the UK would not have been possible without the support of the National Institute for Health Research and UKRI.

These data also suggest that this half dose and full dose regime could help to prevent transmission of the virus, evidenced by lower rates of asymptomatic infection in the vaccinees, with further information to become available when trial data are next evaluated.

The interim Phase III data builds on Oxford’s phase I/II peer-reviewed trial results which have shown that the vaccine induces strong antibody and T cell immune responses across all age groups, including older adults, and has a good safety profile.

The clinical trials, enrolling over 24,000 participants from diverse racial and geographical groups in the UK, Brazil and South Africa, will now continue to final analysis. Further trials are being conducted in the United States, Kenya, Japan and India and the trial team expect to have under 60,000 participants by the end of the year. These trials will provide regulators with further information about the efficacy and safety of the Oxford candidate vaccine, including its ability to both protect against and stop the transmission of COVID-19.

The Oxford vaccine (ChAdOx1 nCoV-19) is made from a virus, which is a weakened version of a common cold virus (adenovirus), that has been genetically changed so that it is impossible for it to grow in humans.

Adenovirus vaccines have been researched and used extensively for decades and have the significant benefit that they are stable, easily manufactured, transported and stored at domestic fridge temperature (2-8 degrees C). This means they can be easily distributed using existing medical facilities such as doctor’s surgeries and local pharmacies, allowing for the vaccine, if approved, to be deployed very rapidly.

Oxford University’s collaboration with AstraZeneca has been crucial to the successful development of the vaccine and vital for its global manufacturing and distribution across the world. AstraZeneca already has international agreements in place to supply three billion doses of the vaccine, with access being built through more than 30 supply agreements and partner networks.

A key element of Oxford’s partnership with AstraZeneca is the joint commitment to provide the vaccine on a not-for-profit basis for the duration of the pandemic across the world, and in perpetuity to low- and middle-income countries.

Professor Louise Richardson, Vice-Chancellor at the University of Oxford, said:

“This is a great day for the University of Oxford and for universities everywhere. Pushing at the frontiers of knowledge with partners across the globe and putting our extraordinary brainpower in service to society, is what we do best.“

Pascal Soriot, Chief Executive Officer, AstraZeneca, said:

“Today marks an important milestone in our fight against the pandemic. This vaccine’s efficacy and safety confirm that it will be highly effective against COVID-19 and will have an immediate impact on this public health emergency. Furthermore, the vaccine’s simple supply chain and our no-profit pledge and commitment to broad, equitable and timely access means it will be affordable and globally available supplying hundreds of millions of doses on approval.“

Notes to editors:

About Vaccitech Ltd.

Vaccitech is a clinical stage T cell immunotherapy and vaccine company developing products to treat infectious diseases and cancer. The company’s proprietary platform, comprising Chimpanzee Adenovirus (prime) and MVA (boost) induces, boosts and maintains CD8+ and CD4+ T cells, as well as antibodies. The Vaccitech prime-boost platform is licensed from one of the most prestigious vaccine research institutes in the world, the Jenner Institute at the University of Oxford. In partnership with the Jenner, Vaccitech co-invented and led aspects of the early development of a SARS-CoV-2 (COVID-19) vaccine, based upon its proprietary Chimpanzee Adenovirus Oxford, or ChAdOx, platform. The COVID-19 vaccine, now known as AZD1222, has been licensed to AstraZeneca and is currently in Phase 3 clinical trials. 

Vaccitech has multiple therapeutic programs in the clinic including a Phase 1/2 program for chronic HBV and HPV, a Phase 2 program for prostate cancer, as well as a program poised to enter the clinic for NSCLC. The company is also co-developing prophylactic products for MERS coronavirus and Herpes Zoster with international collaborators. Vaccitech is backed by leading institutions including GV, Sequoia Capital China, Korea Investment Partners and Oxford Sciences Innovation. 

Media contacts:

Henry Hodge, Vaccitech
Direct: +44 (0) 7533 421 442
Email: [email protected]

Katja Stout, Scius Communications (EU)
Direct: +44 (0) 7789435990
Email: [email protected]

Ryo Imai / Robert Flamm, Ph.D. (US)
Burns McClellan, Inc.
212-213-0006 ext. 315 / 364
Email: [email protected] / [email protected]

HANGZHOU, China, Nov. 23, 2020 (GLOBE NEWSWIRE) — Ruhnn Holding Limited (“ruhnn” or the “Company”) (NASDAQ: RUHN), a leading internet key opinion leader (“KOL”) facilitator in China, today announced its unaudited financial results for the second quarter of fiscal year 2021 ended September 30, 2020.

“During the second quarter of fiscal year 2021, following the business transition, our services segment continued to achieve significant organic growth and demonstrated good profitability, as year-over-year services revenue increased 84%, amounting to a 48% contribution to our total net revenue compared to 24% in the same quarter of last fiscal year, and income from operations for services segment reached RMB12.0 million,” stated Mr. Lei Sun, founder, director and Chief Executive Officer of ruhnn. “Our signed KOLs have been further diversified across major social media platforms in China, such as Xiaohongshu, Kuaishou, Bilibili, Douyin and Weibo. With the growing KOL pool we have built across such social media platforms, along with the diverse KOL monetization channels we have established under the platform model, services revenue generated by our eight top-tier KOLs accounted for only 28% of total services revenue, with no single KOL contributing more than 10% of total services revenue.”

Second
Fiscal Quarter
Financial Highlights:

• Services revenue increased 84% year-over-year to RMB119.3 million (US$17.6 million).
• Total net revenue decreased 9% year-over-year to RMB248.5 million (US$36.6 million).
• Gross margin was 41% compared to 44% in the same quarter of last fiscal year.
• Net loss attributable to ruhnn narrowed 38% year-over-year to RMB31.2 million (US$4.6 million).
• Adjusted net
  loss
  attributable to ruhnn
  ¹ was RMB20.2 million (US$3.0 million) compared to adjusted net income attributable to ruhnn of RMB2.5 million in the same quarter of last fiscal year.
• Income f
  ro
  m operations of services was RMB12.0 million. Adjusted income from operations¹ of services was RMB14.9 million.

Second
Fiscal Q
uarter
Operational Highlights:

• Number of signed KOLs increased to 180 as of September 30, 2020 from 146 as of September 30, 2019. Number of fans increased to 295.3 million as of September 30, 2020 from 188.8 million as of September 30, 2019.
• Number of
  top-tier
  KOLs increased to 8 as of September 30, 2020 from 5 as of September 30, 2019. Number of established and emerging KOLs increased to 45 as of September 30, 2020 from 26 as of September 30, 2019.
• Accumulated
  number of brands
  served increased to 1,423 as of September 30, 2020 from 845 as of September 30, 2019.

¹ Adjusted net income (loss) attributable to ruhnn, and adjusted income from operations are non-GAAP measures, which exclude certain noncash or nonrecurring expenses. See “Unaudited Reconciliation of GAAP and Non-GAAP Financial Measures” at the end of this press release. 

Summary
of
O
peration
s
D
ata

Since the first quarter of fiscal year 2021, the Company has classified all of its signed KOLs based on the total services revenue generated by KOLs under the platform model during the previous twelve months. The following table presents the Company’s classification of its signed KOLs under the platform model:

	As of and for the three months ended
	September 30, 2019						September 30, 2020
	Number of KOLs		Services Revenue (RMB in millions)		Number of Fans(1) (In millions)		Number of KOLs		Services Revenue (RMB in millions)		Number of Fans(1) (In millions)
Top-tier KOLs(2)	5		15.7		27.9		8		33.2		74.2
Established KOLs(3)	14		22.1		27.9		24		39.8		66.1
Emerging KOLs(4)	12		8.2		19.3		21		16.6		67.7
Micro KOLs(5)	115		7.0		113.7		127		15.4		87.3
Total signed KOLs	146		53.0		188.8		180		105.0		295.3
Others(6)			11.8						14.3
Total services revenue			64.8						119.3

(1)	The number of fans presented may include a single fan who was included multiple times if the fan follows more than one KOL, follows the same KOL across multiple platforms, or both.
(2)	Top-tier KOLs generated services revenue of RMB10.0 million or more in the past twelve months under the platform model.
(3)	Established KOLs generated services revenue of RMB3.0 million to RMB10.0 million in the past twelve months under the platform model.
(4)	Emerging KOLs generated services revenue of RMB1.2 million to RMB3.0 million in the past twelve months under the platform model.
(5)	Micro KOLs generated services revenue of less than RMB1.2 million in the past twelve months under the platform model.
(6)	Others represent primarily services revenue that was generated through cooperation with third-party KOLs.

The following table presents operation data by platform model and full-service model:

	As of and for the three months ended September 30,
	2019		2020
Platform Model (1)
Number of signed KOLs serving such business model(3)	146		180
Accumulated number of brands the Company served(4)	845		1,423
Number of brands the Company served(4) during the period	308		520
Services revenue under the platform model (RMB in million)	64.8		119.3
Full-Service Model (2)
Number of signed KOLs serving such business model(3)	7		3
Number of the Company’s online stores	23		17
Product sales revenue under the full-service model (RMB in million)	207.9		129.2

 

(1)	Under the platform model, the Company connects KOLs with third-party online stores and merchants to promote products sold in third-party online stores or provides advertising services on KOLs’ social media spaces to third-party merchants.
(2)	Under the full-service model, the Company owns and operates online stores on third-party e-commerce platforms, and generate revenue through online sales of the Company’s self-designed products to consumers, especially the fans of the Company’s KOLs’ social media accounts that the Company manages.
(3)	Certain KOLs under the Company’s full-service model overlap with those under the platform model. As of September 30, 2020, the Company’s signed KOLs were all involved in the platform model. In addition, the Company’s KOLs that were undergoing training or have not started generating services revenue under the platform model as of the relevant date, were also included in these numbers.
(4)	Number of brands served here represents the number of brands to which the Company provided advertising services.

Information
by Segme
nts

The Company started to review its results of operations according to two operating segments when making decisions about allocating resources and assessing performance starting from fiscal year 2021. The two segments are (i) services through platform model, and (ii) product sales under full-service model. The table below sets forth the selected segment financial information of the two segments for the three months ended September 30, 2020:

	Three months ended September 30, 2020
	Services		Product sales		Unallocated (1)		Consolidated
	RMB		RMB		RMB		RMB		US$
	(Amounts in thousands)
Net revenue	119,294		129,227		–		248,521		36,603
Less:
Cost of revenue	64,265		83,415		–		147,680		21,751
Fulfillment	–		16,875		–		16,875		2,485
Sales and marketing	34,966		47,349		–		82,315		12,124
General and administrative	8,063		11,066		14,711		33,840		4,984
Amortization of exclusive cooperation rights	–		1,521		–		1,521		224
Income (loss) from operations	12,000		(30,999	)	(14,711	)	(33,710	)	(4,965	)
Add back:
Amortization of exclusive cooperation rights	–		1,521		–		1,521		224
Share-based compensation expense	2,919		1,835		1,675		6,429		947
Litigation costs	–		–		2,980		2,980		439
Adjusted income (loss) from operations	14,919		(27,643	)	(10,056	)	(22,780	)	(3,355	)

   

(1)	Unallocated items include expenses incurred by the headquarters that are not allocated to services and product sales.

Second Quarter
of Fiscal Year
2021
Financial Results

Net revenue. Total net revenue was RMB248.5 million (US$36.6 million), a decrease of RMB24.2 million or 9% from RMB272.7 million for the same quarter of last fiscal year. The change was mainly due to the decline in product sales revenue through the full-service model, partially offset by the significant increase in services revenue through the platform model.

• S
  ervices
  revenue
  through the platform model was RMB119.3 million (US$17.6 million), an increase of RMB54.5 million or 84% from RMB64.8 million for the same quarter of last fiscal year. The increase was mainly attributable to (i) the increase in the number of KOLs serving the Company’s platform model, which increased to 180 as of September 30, 2020 from 146 as of September 30, 2019; (ii) the improved performance of such KOLs as evidenced by the increase in the aggregate number of the top-tier, established and emerging KOLs to 53 as of September 30, 2020 from 31 as of September 30, 2019; and (iii) an increase in the number of brands that the Company cooperated with in its advertising business to 520 in the second quarter of fiscal year 2021 from 308 for the same quarter of last fiscal year.

• P
  roduct sales
  revenue
  through the full-service model was RMB129.2 million (US$19.0 million), a decrease of RMB78.7 million or 38% from RMB207.9 million for the same quarter of last fiscal year. The decrease was primarily attributable to (i) the transition of the business model of some online stores from the full-service model to the platform model, as a result of which, the number of the Company’s online stores decreased to 17 as of September 30, 2020 from 23 as of September 30, 2019, while the number of the Company’s KOLs serving the full-service model decreased to 3 as of September 30, 2020 from 7 as of September 30, 2019; and (ii) a significant decrease in product sales generated from the online stores under the name of a top KOL who suffered from negative publicity since April 2020.

Cost of revenue. Cost of revenue was RMB147.7 million (US$21.8 million), a decrease of RMB6.0 million or 4% from RMB153.7 million for the same quarter of last fiscal year, which was primarily a result of the decline in total net revenue. Cost of product sales decreased by RMB44.3 million or 35% year-over-year to RMB83.4 million. Cost of revenue primarily included product costs, inventory write-downs and KOL service fees.
        
Gross profit. Gross profit was RMB100.8 million (US$14.9 million), a decrease of RMB18.2 million or 15% from RMB119.0 million for the same quarter of last fiscal year, primarily as a result of the decline in product sales revenue. Gross margin was 41% compared to 44% in the same quarter of last fiscal year.

Total operating expenses. Total operating expenses were RMB134.6 million (US$19.8 million), a decrease of RMB49.4 million or 27% from RMB184.0 million for the same quarter of last fiscal year. Included in total operating expenses was an aggregate of RMB10.9 million of noncash amortization of intangible assets in relation to exclusive cooperation rights, noncash share-based compensation expense, and litigation costs in the second quarter of fiscal year 2021 compared to a noncash amortization of exclusive cooperation rights and noncash share-based compensation expense of RMB52.6 million in the same quarter of last fiscal year. Total operating expenses accounted for 54% and 67% of total net revenue for the second quarter of fiscal year 2021 and 2020, respectively.

• Fulfillment expenses were RMB16.9 million (US$2.5 million), a decrease of RMB18.3 million or 52% from RMB35.2 million for the same quarter of last fiscal year. The decrease was largely in line with the decrease in product sales. Fulfillment expenses accounted for 13% and 17% of product sales revenue for the second quarter of fiscal year 2021 and 2020, respectively.

• Sales and marketing expenses were RMB82.3 million (US$12.1 million), an increase of RMB7.3 million or 10% from RMB75.0 million for the same quarter of last fiscal year. Sales and marketing expenses consist primarily of expenses for KOL incubation, cultivation and training for the Company’s platform KOLs, as well as expenses incurred for the Company’s advertising, marketing and brand promotion activities under the full-service model. Following the expansion of KOL pool from 146 signed KOLs as of September 30, 2019 to 180 as of September 30, 2020, related expenses incurred for KOL incubation, cultivation and training in order to support increased activities for the Company’s KOL sales and advertising business. Sales and marketing expenses accounted for 33% and 28% of total net revenue for the second quarter of fiscal year 2021 and 2020, respectively, and the increase in the current quarter was primarily attributable to the decline in product sales revenue.

• General and administrative expenses were RMB33.8 million (US$5.0 million), a decrease of RMB34.6 million or 51% from RMB68.4 million for the same quarter of last fiscal year. General and administrative expenses accounted for 14% and 25% (or 11% and 11% exclusive of noncash share-based compensation expense and litigation costs) of total net revenue for the second quarter of fiscal year 2021 and 2020, respectively.

• A
  mortization
  of exclusive cooperation rights was RMB1.5 million (US$0.2 million) compared to RMB5.2 million for the same quarter of last fiscal year, which represented the amortization of intangible assets in relation to exclusive cooperation rights granted by a top KOL.

Interest income, net
. Interest income, net was RMB5.1 million (US$0.8 million) compared to RMB5.9 million for the same quarter of last fiscal year.

Other income, net
. Other income, net was RMB3.1 million (US$0.5 million), an increase of RMB0.6 million from RMB2.5 million for the same quarter of last fiscal year.

Loss before income taxes. Loss before income taxes was RMB28.5 million (US$4.2 million) compared to RMB52.5 million for the same quarter of last fiscal year, as a result of the foregoing.

Income taxes. Income tax expense was RMB3.7 million (US$0.5 million) compared to a negative RMB0.9 million for the same quarter of last fiscal year.

Net loss
attributable to r
uhnn. Net loss attributable to ruhnn was RMB31.2 million (US$4.6 million) compared to RMB50.1 million for the same quarter of last fiscal year.
        
Adjusted net income (loss) attributable to ruhnn. Adjusted net loss attributable to ruhnn was RMB20.2 million (US$3.0 million) compared to an income of RMB2.5 million for the same quarter of last fiscal year. The loss in the current quarter was primarily attributable to the loss incurred by product sales segment, with adjusted loss from operations of product sales of RMB27.6 million.

Balance Sheet
and Cash Flow

As of September 30, 2020, the Company had cash and cash equivalents, restricted cash and short-term investment of RMB714.5 million (US$105.2 million) compared to RMB800.6 million as of March 31, 2020.

Net cash used in operating activities was RMB46.4 million (US$6.8 million) for the second quarter of fiscal year 2021 compared to net cash provided by operating activities of RMB7.2 million for the same quarter of last fiscal year. Net cash used in operating activities was primarily a result of (i) loss from operations from our product sales segment of RMB31.0 million, following the decline in product sales revenue in the current quarter; and (ii) a net increase of RMB17.4 million in advances to suppliers, primarily certain strategic social media platforms.

Outlook

The Company reiterates that, for the full fiscal year 2021, it currently expects its net revenue from services through the platform model to be between RMB520.0 million and RMB610.0 million, representing year-over-year growth of between 72% and 101%.

This forecast reflects the Company’s current and preliminary view on the current business situation and market conditions, which are all subject to change.

Share Repurchase Program

On June 2, 2020, the Company announced that its board of directors had approved a share repurchase program of up to US$15 million of the Company’s outstanding American Depositary Shares (“ADSs”) for a period not to exceed 12 months beginning on June 2, 2020. The Company commenced this share repurchase program on June 9, 2020 and between that day and the end of November 20, 2020, 2,342,061 ADSs were repurchased for an aggregate consideration of approximately US$6.8 million. The Company expects to continue to implement its share repurchase program in a manner consistent with market conditions and the interest of its shareholders, subject to the restrictions relating to volume, price and timing under applicable law.

Conference Call

The Company’s management will host an earnings conference call at 7:00 AM U.S. Eastern Time on November 23, 2020 (8:00 PM Beijing/Hong Kong time on November 23, 2020). Details for the conference call are as follows:    

Event Title:	Ruhnn Holding Limited Second Quarter of Fiscal Year 2021 Earnings Conference Call
Conference ID:	6475106
Registration Link:	http://apac.directeventreg.com/registration/event/6475106

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

Participants should dial-in at least 10 minutes before the scheduled start time to be connected to the call.

Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at http://ir.ruhnn.com.

About Ruhnn Holding Limited

Ruhnn Holding Limited is a leading internet key opinion leader (“KOL”) facilitator in China. The Company connects influential KOLs who engage and impact their fans on the internet to its vast commercial network to build the brands of fashion products. Ruhnn pioneered the commercialization of the KOL ecosystem in China, and operates under both platform and full-service models. The Company’s platform model promotes products sold in third-party online stores and provides advertising services on KOL’s social media spaces to third-party merchants. The full-service model integrates key steps of the e-commerce value chain from product design and sourcing and online store operations to logistics and after-sale services. As of September 30, 2020, the Company had 180 signed KOLs with an aggregate of 295.3 million fans across major social media platforms in China.

For more information, please visit http://ir.ruhnn.com.

Use of Non-GAAP Financial Measures

The Company uses non-GAAP measures, such as adjusted net (loss) income attributable to ruhnn, adjusted basic and diluted net (loss) income per ADS and adjusted income (loss) from operations in evaluating its operating results and for financial and operational decision-making purposes. The Company believes that the non-GAAP financial measures help identify underlying trends in its business by excluding the impact of noncash charges of impairment and amortization of intangible assets in relation to exclusive cooperation rights and share-based compensation expense, and litigation costs incurred in relation to the class action. 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 performance, investors should not consider them in isolation, or as a substitute for financial information prepared in accordance with U.S. GAAP.

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 the non-GAAP financial measures, please see the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP Financial Measures” set forth at the end of this press release.

Exchange Rate
Information

This announcement contains translations of certain Renminbi (“RMB”) amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.7896 to US$1.00, the rate in effect as of September 30, 2020 published by the Federal Reserve Board.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the business outlook and quotations from ruhnn’s management in this announcement as well as ruhnn’s strategic and operational plans contain forward-looking statements. Ruhnn may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20-F and 6-K, 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 ruhnn’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition and results of operations; trends in the internet KOL facilitator industry in the PRC and globally; competition in the Company’s industry; fluctuations in general economic and business conditions in China; and the regulatory environment in which the Company operates. Further information regarding these and other risks is included in the Company’s filings with the SEC, including its registration statement on Form F-1, as amended, and its annual reports on Form 20-F. All information provided in this press release is as of the date of this press release, and ruhnn does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For in
vestor and media inquiries, please contact:

In China:

Ruhnn Holding Limited
Sterling Song
Senior Director of Investor Relations
Tel: +86-571-2825-6700
E-mail: [email protected]

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

In the United States:

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

RUHNN HOLDING LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands, except
for
share
and per share
data)

	March 31, 2020		September 30, 2020
	RMB		RMB		US$
ASSETS:
Current Assets:
Cash and cash equivalents	718,478		663,358		97,702
Restricted cash	5,673		2,756		406
Short-term investment	76,450		48,352		7,121
Accounts receivable, net	60,370		93,731		13,805
Inventories	145,553		118,687		17,481
Advances to suppliers	32,628		46,443		6,840
Prepaid expenses and other current assets	37,312		31,895		4,698
Total current assets	1,076,464		1,005,222		148,053
Property and equipment, net	183,404		170,976		25,182
Intangible assets, net	82,567		41,380		6,095
Goodwill	1,002		1,002		148
Long-term investments	87,636		88,473		13,031
Operating lease right of use assets, net	–		62,315		9,178
Other non-current assets	2,978		2,378		350
TOTAL ASSETS	1,434,051		1,371,746		202,037
LIABILITIES AND SHAREHOLERS’ (DEFICIT) EQUITY:
Current liabilities:
Accounts payable	104,822		110,542		16,281
Notes payable	10,698		–		–
Accrued salary and benefits	68,601		57,138		8,416
Accrued expenses and other current liabilities	30,042		40,550		5,972
Amounts due to related parties	18,097		15,640		2,304
Current operating lease liabilities	–		17,838		2,627
Income tax payable	1,662		5,662		834
Total current liabilities	233,922		247,370		36,434
Deferred income	10,033		8,438		1,243
Non-current operating lease liabilities	–		40,788		6,007
Other non-current liabilities	12,334		1,350		199
Total liabilities	256,289		297,946		43,883
Shareholders’ (deficit) equity:
Class A ordinary shares (US$0.000000001 par value; 822,665,750 shares authorized, 246,122,394 and 244,598,624 shares issued and outstanding as of March 31, 2020 and September 30, 2020)	–		–		–
Class B ordinary shares (US$0.000000001 par value; 177,334,250 shares authorized, 174,834,250 and 170,184,250 shares issued and outstanding, as of March 31, 2020 and September 30, 2020)	–		–		–
Treasury stock	–		(28,463	)	(4,192
Additional paid in capital	1,504,848		1,510,093		222,413
Accumulated deficit	(325,126	)	(412,875	)	(60,810
Other comprehensive income	4,598		5,045		743
Total ruhnn shareholders’ equity	1,184,320		1,073,800		158,154
Non-controlling interest	(6,558	)	–		–
Total shareholders’ equity	1,177,762		1,073,800		158,154
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	1,434,051		1,371,746		202,037

R
UHNN HOLDING LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE
LOSS

(Amount
s
in thousands, except
for share and per
share data)

	Three Months Ended September 30,						Six Months Ended September 30,
	2019		2020				2019		2020
	RMB		RMB		US$		RMB		RMB		US$
Net revenue:
Services	64,795		119,294		17,570		130,276		232,962		34,312
Product sales	207,940		129,227		19,033		455,235		295,979		43,593
Total net revenue	272,735		248,521		36,603		585,511		528,941		77,905
Cost of revenue:
Cost of services	26,011		64,265		9,465		53,371		118,685		17,480
Cost of product sales	127,675		83,415		12,286		301,571		202,021		29,754
Total cost of revenue	153,686		147,680		21,751		354,942		320,706		47,234
Gross profit	119,049		100,841		14,852		230,569		208,235		30,671
Operating expenses (1) :
Fulfillment	35,246		16,875		2,485		70,221		35,703		5,258
Sales and marketing	75,020		82,315		12,124		144,010		151,771		22,353
General and administrative	68,436		33,840		4,984		98,946		59,046		8,697
Amortization of exclusive cooperation rights	5,150		1,521		224		10,300		6,671		983
Impairment of exclusive cooperation rights	–		–		–		–		53,230		7,840
Other operating loss (income), net	158		–		–		(627	)	–		–
Total operating expenses	184,010		134,551		19,817		322,850		306,421		45,131
Loss from operations	(64,961	)	(33,710	)	(4,965	)	(92,281	)	(98,186	)	(14,460	)
Other income (loss):
Interest income, net	5,890		5,126		755		7,298		11,385		1,677
Other income, net	2,530		3,140		462		3,128		7,155		1,054
Foreign exchange gain (loss)	3,996		(3,036	)	(447	)	4,393		(3,127	)	(461	)
Loss before income taxes	(52,545	)	(28,480	)	(4,195	)	(77,462	)	(82,773	)	(12,190	)
Income taxes	(879	)	3,695		544		2,541		7,076		1,042
Net loss	(51,666	)	(32,175	)	(4,739	)	(80,003	)	(89,849	)	(13,232	)
Less: Net loss attributable to non-controlling interest	(1,562	)	(1,010	)	(149	)	(3,186	)	(2,100	)	(309	)
Net loss attributable to ruhnn	(50,104	)	(31,165	)	(4,590	)	(76,817	)	(87,749	)	(12,923	)
Net loss per ordinary share:
Basic and diluted	(0.12	)	(0.07	)	(0.01	)	(0.19	)	(0.21	)	(0.03	)
Net loss per ADS:
Basic and diluted	(0.61	)	(0.37	)	(0.05	)	(0.93	)	(1.04	)	(0.15	)
Weighted average shares and shares  equivalents used in calculating  net loss per ordinary share:
Basic and diluted	413,572,659		421,146,076		421,146,076		413,026,211		420,733,796		420,733,796
Net loss	(51,666	)	(32,175	)	(4,739	)	(80,003	)	(89,849	)	(13,232	)
Other comprehensive loss:
Foreign currency translation adjustments	221		368		54		4,919		448		66
Comprehensive loss	(51,445	)	(31,807	)	(4,685	)	(75,084	)	(89,401	)	(13,166	)
(1) Share-based compensation expense in each category:
Fulfillment	1,522		121		18		1,522		263		39
Sales and marketing	7,513		2,871		423		7,513		6,608		973
General and administrative	38,394		3,437		506		38,394		7,032		1,036
Total	47,429		6,429		947		47,429		13,903		2,048

RUHNN HOLDING LIMITED

UNAUDITED CONDENSED CONSOLIDATED
STATEMENTS
OF
CASH FLOWS

(Amount
s
in thousands)

	Three Months Ended September 30,						Six Months Ended September 30,
	2019		2020				2019		2020
	RMB		RMB		US$		RMB		RMB		US$
Net cash provided by (used in) operating activities	7,175		(46,396	)	(6,833	)	8,140		(34,747	)	(5,118	)
Net cash (used in) provided by investing activities	(19,824	)	(56,769	)	(8,361	)	(125,011	)	8,606		1,268
Net cash provided by (used in) financing activities	42,293		(17,860	)	(2,630	)	760,791		(28,895	)	(4,256	)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	3,596		(2,753	)	(405	)	4,372		(3,001	)	(442	)
Increase (decrease) in cash, cash  equivalents and restricted cash	33,240		(123,778	)	(18,229	)	648,292		(58,037	)	(8,548	)
Cash, cash equivalents and restricted cash at beginning of period	718,873		789,892		116,337		103,821		724,151		106,656
Cash, cash equivalents and restricted cash  at end of period	752,113		666,114		98,108		752,113		666,114		98,108

RUHNN HOLDING LIMITED

UNAUDITED
RECONCILIATION
OF GAAP AND NON-GAAP
FINANCIAL MEASURES

(
Amounts i
n
thousands
, except
for
share
and per share
data)

	Three Months Ended September 30,						Six Months Ended September 30,
	2019		2020				2019		2020
	RMB		RMB		US$		RMB		RMB		US$
Net loss attributable to ruhnn	(50,104	)	(31,165	)	(4,590	)	(76,817	)	(87,749	)	(12,924	)
Amortization of exclusive cooperation rights	5,150		1,521		224		10,300		6,671		983
Impairment of exclusive cooperation rights	–		–		–		–		53,230		7,840
Share-based compensation expense	47,429		6,429		947		47,429		13,903		2,048
Litigation costs	–		2,980		439		–		4,441		654
Adjusted net income (loss) attributable  to ruhnn	2,475		(20,235	)	(2,980	)	(19,088	)	(9,504	)	(1,399	)
Adjusted net income (loss) per ADS:
Basic	0.03		(0.24	)	(0.04	)	(0.23	)	(0.11	)	(0.02	)
Diluted	0.03		(0.24	)	(0.04	)	(0.23	)	(0.11	)	(0.02	)
Weighted average shares and shares  equivalents used in calculating  net loss per ordinary share:
Basic	413,572,659		421,146,076		421,146,076		413,026,211		420,733,796		420,733,796
Diluted	431,909,852		421,146,076		421,146,076		413,026,211		420,733,796		420,733,796

	Three Months Ended September 30, 2020				Six Months Ended September 30, 2020
	RMB		US$		RMB		US$
Loss fro m operations	(33,710	)	(4,965	)	(98,186	)	(14,461	)
Amortization of exclusive cooperation rights	1,521		224		6,671		983
Impairment of exclusive cooperation rights	–		–		53,230		7,840
Share-based compensation expense	6,429		947		13,903		2,048
Litigation costs	2,980		439		4,441		654
Adjusted loss from operations	(22,780	)	(3,355	)	(19,941	)	(2,936	)