KUALA LUMPUR, Malaysia, Nov. 27, 2024 /PRNewswire/ -- This festive season, IPC Shopping Centre invites you to immerse yourself in the enchanting world of Scandinavian Christmas and joy with its 'Charms of Nordic Noel' celebration. Embracing the essence of a home away from home, IPC brings a uniquely warm and welcoming atmosphere filled with holiday cheer, exclusive rewards, and delightful experiences for everyone, running from today until 29 December.
Inspired by the cosy traditions of Nordic winter, "Charms of Nordic Noel" offers a delightful shopping experience that evokes the magical and warm essence of Christmas. The word "Charm" suggests an inviting and enchanting quality, while "Nordic Noel" draws inspiration from the winter traditions of Northern Europe, where holiday décor celebrates natural elements that bring warmth even to the coldest days. "Noel," meaning Christmas, adds a timeless holiday touch, inviting shoppers to celebrate the true spirit of the season at IPC Shopping Centre.
Find the Charms of Christmas with Gifts, Rewards and Festive Surprises
From now through December 29th, IPC Shopping Centre brings festive cheer to its Tack Club loyalty members through a series of delightful rewards. With every shopping experience at IPC, enjoy the holiday benefits:
Ms. Karyn Lim, General Manager of IPC Shopping Centre, shared, "We believe in creating a space where everyone feels right at home. At IPC Shopping Centre, we're more than just a place to shop—we're a destination where harmony and happiness come together. Last month, we introduced our new tagline, "The Lagom Life, It's Just Right," reflecting the balance between excitement and relaxation, especially meaningful during the holiday season. This year's 'Charms of Nordic Noel' theme invites you to experience the warmth and simplicity of Scandinavian Christmas traditions. From festive markets to curated gifts, every detail is designed to bring joy and help you create lasting memories with your loved ones."
Explore the Christmas Marketplace at Level G
IPC's Christmas Marketplace will feature over 30 booths filled with festive offerings. Shoppers can browse an array of holiday goods from different brands, perfect for creating memorable moments at home or finding unique gifts for loved ones. This vibrant space, in IPC's trademark Scandinavian design, brings holiday spirit and an exciting shopping experience for the entire family.
Discover Thoughtful Gifts at Swede Gifts Corner
At the Swedefinds Corner, shoppers can discover a thoughtfully curated selection of exclusive IPC merchandise priced at RM30, RM50, and RM100 to meet the diverse gifting needs of our shoppers. Små Club members can pick up a unique Swedish-inspired Christmas sticker pack at the i-Counter, Level G, for festive keepsake.
Share the love with Postcards
Shoppers can also receive a beautifully designed Christmas postcard with any purchase at the i-Counter, Level G, offering a charming opportunity to bring back the art of heartfelt, handwritten greetings this holiday season. IPC invites shoppers to move beyond digital messages and reconnect with the warmth of personal, handwritten notes. Simply redeem a festive postcard with any purchase and spread the holiday cheer to those who matter most.
Show Your Holiday Spirit with 'Team Up, Dress Up & Win!' Challenge
Capture the joy of the season with the 'Team Up, Dress Up & Win!' contest, which offers RM300 Ben's Independent Grocer cash vouchers for five (5) winning groups. Just snap a photo with friends and family at IPC in their best festive attire, upload it to the comments on IPC's Facebook contest post before December 29th, and join the running for a chance to win!
Ongoing Promotions with IPC Fashion Chic Perks
IPC Shopping Centre is thrilled to introduce Fashion Chic Perks, exclusive for Tack Club members, running from this festive season through to 6 April 2025. With a minimum spend of RM300 in two same-day receipts at any of IPC's fashion outlets, members can enjoy a complimentary personalised tote bag and a refreshing ice cream treat to sweeten their shopping experience.
Members can personalize their tote bag with up to 12 characters (including spaces) in either black or cream, adding a personal touch to their holiday shopping. Tote bags will be available for collection at the i-Counter, Level G, within 14 days from date of redemption. Don't miss out on this perfect opportunity to add a little extra charm to your festive season!
For more information about the Charms of Nordic Noel or IPC Fashion Chic Perks, please visit ipc.com.my or follow IPC Shopping Centre on Facebook, Instagram, or TikTok for the latest promotions, events and updates.
About IPC Shopping Centre:
Malaysia's first meeting place anchored by IKEA with the big blue box store and a vital part of Ikano Retail's growing portfolio in the region. Strategically nestled in the heart of the mixed-use development of Mutiara Damansara since 2003, it serves as a familiar, cosy home away from home for their community and beyond. Blending its Swedish heritage with innovation, IPC Shopping Centre leads in sustainability with the flagship Recycling and Buy-Back Centre and other green initiatives in fostering community engagement and showcasing their commitment to a greener future. IPC Shopping Centre enhances everyday life as the preferred one-stop retail hub with diverse offerings that goes beyond transactional shopping, but also a space for continued connection, discovery and inspiration for its visitors.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Celebrate the 'Charms of Nordic Noel' at IPC Shopping Centre for a Heartwarming Christmas Season
SINGAPORE, Nov. 27, 2024 /PRNewswire/ -- JOYY Inc. (NASDAQ: YY) ("JOYY" or the "Company"), a global leading technology company, announced its unaudited financial results for the third quarter of 2024.
For the third quarter, JOYY's revenue reached US$558.7 million, while the Company's core business segment, BIGO, generated revenues of US$496.0 million. JOYY's GAAP and non-GAAP operating income[1] were US$16.4 million and US$34.9 million, respectively, up by 623.5% and 16.4% on a quarterly basis. JOYY recorded a net profit and non-GAAP net profit[1] of US$60.6 million and US$61.2 million, for a GAAP and non-GAAP net margin[1] of 10.8% and 10.9%, respectively. BIGO's GAAP and non-GAAP operating income[1] reached US$62.7 million and US$72.9 million, respectively, marking sequential increases of 8.2% and 5.0%. The Company sustained its positive operating cash flows, generating US$61.1 million in the third quarter.
During the third quarter, JOYY actively advanced shareholder returns by buying back an additional US$117.8 million worth of its shares. During the first three quarters of 2024, the Company has repurchased 7.31 million of its ADSs for a total of US$243.7 million, demonstrating confidence in the company's long-term prospects.
Ms. Ting Li, Chairperson and Chief Executive Officer of JOYY, commented, "We continued to execute effectively on our strategic priorities during the third quarter, cultivating our global social and content ecosystem, and enhancing our global operational capabilities and efficiencies, which yielded solid results. Our group's GAAP and non-GAAP operating income were US$16.4 million and US$34.9 million, respectively, up by 623.5% and 16.4% on a quarterly basis. During the third quarter, we continued to cultivate long-term initiatives that will further diversify our revenue streams. Our Group non-livestreaming revenue grew by 13.1% to US$119.2 million quarter over quarter, contributing 21.3% of total revenues. Looking ahead, we remain focused on enhancing user experiences through product innovation, further diversifying our revenue streams, and advancing operational excellence across our global footprint. Supported by our strong cash flow and healthy financial position, we are well-positioned to deliver sustainable, profitable growth and create enduring value for our shareholders."
Third Quarter 2024 Financial Highlights
Third Quarter 2024 Business Highlights
In the third quarter, Bigo Live sharpened its operational strategy by prioritizing advertising investments and operational resources toward developed countries and premium users, and simultaneously enhanced its content quality and social experiences to drive long-term user monetization potential. This targeted approach yielded strong results in core developed countries, where MAUs grew 3.4% year over year and 3.7% quarter over quarter, and paying users increased 9.1% year over year. Bigo Live also achieved encouraging momentum in the Middle East, where its revenue increased 5.6% sequentially.
To further enhance its global content and social ecosystem, Bigo Live implemented a series of upgrades to boost the creation, quality, and distribution of content on its platform. For example, Bigo Live fine-tuned its content recommendation algorithms to better facilitate content sharing within same-language regions and expand cross-regional content flow between highly interactive markets. These enhancements streamlined its cross-regional content delivery and better served users' growing appetite for global content and social connections.
In the last quarter, Bigo Live successfully hosted the third season of "BIGO's Most Talented", featuring categories in Music, Dance and Beauty Pageantry. The event attracted outstanding creators from around the world. Building on previous seasons, the third season introduced a more rounded judging system incorporating key audience engagement metrics. This allowed a seamless merger of interactive livestreaming elements with traditional talent show elements. The event resonated strongly with viewers, amassing an impressive 5.79 million audience votes. Bigo Live also strengthened bonds with its business partners and user community through a series of mid-year galas across Saudi Arabia, Vietnam, Thailand, and the Philippines. These gatherings brought together the cornerstone members of Bigo Live's ecosystem - top creators, users and partners - to celebrate their achievements and vital contributions to the platform's progress in the first half of the year.
Bigo Live also further developed its social engagement features, prioritizing improvements to Real Match and messaging functionality. These upgrades drove deeper user connections and more efficient follow conversions. Notably, Real Match's average DAU penetration rate increased significantly to 23.4%, while the number of direct chat messages rose by 15.9% from the previous quarter. Bigo Live also achieved a 4.3% rise in average new follows per user. By directing traffic to premium hosts and upgrading interactive features, Bigo Live boosted creator participation and user engagement in multi-guest rooms. Bigo Live achieved a 3.9% sequential increase in the penetration rate of streamers in multi-guest rooms, alongside a 3.6% sequential increase in the overall rate of users going live as guest speakers.
Likee remains rooted in the Middle East and European markets, where it continues to build momentum and enhance monetization across both livestreaming and advertising. As a result, Likee's advertising revenue grew 33.4% year over year in the third quarter, and Likee maintained its profitability.
During the quarter, Likee elevated its user experience across its core markets through enhanced content quality, interactivity, and community engagement. A standout community-building initiative was its August music festival tour across five European cities, which brought together Likee's top creators, including music bloggers and dance groups, alongside established performers and celebrities. This unique event delivered an unprecedented interactive experience for the Likee community. In September, Likee served as the official media partner for Phygital Games 2024, providing eight days of livestreaming coverage to immerse users in the competitive prowess of top athletes in digital football, basketball, laser shooting, and simulated dance. Likee's expanded premium content offerings and content diversity drove a 12.3% quarter-over-quarter increase in users' video time spent.
In the third quarter, Hago's targeted incentive strategy across different paying user segments drove improved monetization metrics. This strategy resulted in positive momentum in both its paying users and ARPPU, with its revenue growing 6.1% quarter over quarter. Hago maintained a positive operating cash flow in the third quarter, and its operating losses further narrowed. Hago's social engagement metrics also remained strong, with average time spent in social channels increasing 2.5% quarter over quarter to 105.8 minutes, and next-day retention rates showing sustained improvement.
[1]. For details of the non-GAAP measures, including the reconciliations of GAAP measures to non-GAAP measures, please refer to the press release titled "JOYY Reports Third Quarter 2024 Unaudited Financial Results" issued by the Company on November 27, 2024.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
JOYY Reports Net Profit of US$60.6 Million, Share Buybacks Surpass US$117.8 Million in Q3
