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News Article | May 16, 2017
Site: www.prnewswire.com

Mr. Zhenwen Liang, China Digital TV's chief financial officer, stated, "In the first quarter of 2017, the number of registered and covered users on our cloud platform increased to 5.5 million and 150 million, respectively. Furthermore, we expanded our geographic footprint to Anhui province through the partnership with Anhui Telecom, a branch of China Telecom which covers more than 5.5 million provincial users as of March 31, 2017. Meanwhile, our persistent efforts to diversify content offerings on our cloud platform continued to bear fruit in the first quarter of 2017. In addition to a newly launched public fitness program for square dancing, we have been seeking new opportunities in innovative cloud VR programs and expect to launch VR games in the near future. We will also expand our business into VR museums, VR education, VR videos, and other VR content.  Lastly, during the first quarter we made progress in controlling costs and reducing overall expenses. We remain committed to driving further growth of our business and creating additional shareholders value going forward." On April 21, 2017, the Board declared a special cash dividend of US$1.50 per ordinary share. The aggregate amount of cash dividend to be paid approximates US$90 million. Shareholders of record as of the close of business on May 31, 2017, U.S. Eastern Daylight Time, will be eligible to receive the dividend. The payment date of this special cash dividend is expected to be on or about June 15, 2017. The funds for the dividend, all of which have been received by the Company, will come from the proceeds previously received from the Beijing Super TV sale, after certain foreign currency exchange procedures are completed. So far, the Company's offshore account has received a portion of the proceeds in US dollars equivalent to 100 million Renminbi. The remaining proceeds are still in the procedures of currency exchange from Renminbi to US dollars. If the Company is unable to pay the dividend due to the  foreign currency conversion, the Company commits to update the market with a new special dividend payment date as soon as possible. As previously disclosed, there has been a significant reduction in the remaining continuing business operations of the Company post the sale of Beijing Super TV asset.  Additionally as previously disclosed the payment of the special cash dividend is expected to reduce both the Company's market capitalization and shareholders' equity. Accordingly, there is an increased significant risk of the Company being ineligible for continued listing on the New York Stock Exchange.  The Company is currently reviewing its continued listing eligibility with the New York Stock Exchange  in light of these issues. China Digital TV's net revenues decreased by 56.3% to US$0.7 million from US$1.5 million in the prior year period. The decline in net revenues was primarily due to the decreased revenues from system development and system integration, which was partially offset by an increase in revenues from cloud platform operations in the first quarter of 2017. Cost of revenues decreased by 51.6% to US$0.2 million from US$0.4 million in the prior year period. The decline in cost of revenues was primarily in line with the decline of net revenues in the first quarter of 2017. Gross profit in the first quarter of 2017 was US$0.5 million, as compared with US$1.1 million in the prior year period. Gross margin, which is equal to gross profit divided by net revenues, was 69.7% in the first quarter of 2017, as compared with 72.7% in the prior year period. Operating expenses in the first quarter of 2017 decreased by 35.0% to US$2.3 million from US$3.6 million in the prior year period. Loss from the operation of continuing operations in the first quarter of 2017 decreased by 24.5% to US$1.9 million from US$2.5 million in the prior year period. Income tax expenses in the first quarter of 2017 was US$0.1 million in the first quarter of 2017, as compared with US$0.05 million in the prior year period. Net income attributable to China Digital TV Holding Co., Ltd in the first quarter of 2017 was US$0.2 million, as compared with US$1.2 million in the prior year period. The decrease was primarily because the discontinued operations were disposed of in the fourth quarter of 2016. Non-GAAP net income[2] attributable to China Digital TV Holding Co., Ltd in the first quarter of 2017 was US$0.6 million, as compared with US$1.2 million in the prior year period[3]. As of March 31, 2017, China Digital TV had cash and cash equivalents, and term deposits totaling US$125.5 million. China Digital TV's management will host an earnings conference call at 8:00 p.m. on Tuesday, May 16, 2017, U.S. Eastern Time (8:00 a.m. on Wednesday, May 17, 2017, Beijing/Hong Kong Time). United States Toll Free: +1-888-346-8982 International: +1-412-902-4272 Hong Kong: 800-905945 China Toll Free: 4001-201203 Conference Name: China Digital TV Holding Co. Ltd. call. A replay of the call will be available for one week between 9:00 p.m. on May 16, 2017 and May 23, 2017, U.S. Eastern Time. Additionally, a live and archived webcast of this call will be available on the Investor Relations section of China Digital TV's corporate website at http://ir.chinadtv.cn. Founded in 2004, China Digital TV is a leading provider of cloud platforms, with gaming and other applications embedded, to PRC digital television and telecommunication network operators, enabling them to bring these applications to household television sets and other mobile devices. For more information please visit the Investor Relations section of China Digital TV's website at http://ir.chinadtv.cn. This announcement contains forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended.  Such forward-looking statements are made under the "safe harbor" provisions of the 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," "may," "should" and similar expressions. Such forward-looking statements include, without limitation, statements regarding the outlook and comments by management in this announcement about trends in the cloud computing, cable television and related industries in the PRC and China Digital TV's strategic and operational plans and future market positions. China Digital TV may also make forward-looking statements in its periodic reports filed with the Securities and Exchange Commission, 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 China Digital TV'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 projections contained or implied in any forward-looking statement, including but not limited to the following: competition in the cloud computing, cable television and related industries in the PRC and the impact of such competition on prices, our ability to implement our business strategies, changes in technology, the progress of the television digitalization in the PRC, the structure of the cable television industry or television viewer preferences, changes in PRC laws, regulations or policies with respect to the cloud computing, cable television and related industries, including the extent of non-PRC companies' participation in such industries, and changes in political, economic, legal and social conditions in the PRC, including the government's policies with respect to economic growth, foreign exchange and foreign investment. Further information regarding these and other risks and uncertainties is included in our annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. China Digital TV does not assume any obligation to update any forward-looking statements, which apply only as of the date of this press release. For investor and media inquiries, please contact: [1] Unless otherwise stated, all financial statement measures stated in this press release are based on "U.S. GAAP". [2] Non-GAAP net income is defined as net income excluding share-based compensation expenses, and amortization of acquired intangible assets from business acquisitions. [3] For more information on these non-GAAP financial measures, please see the tables captioned "Reconciliations of non-GAAP measures" set forth at the end of this release. Non-GAAP net income attributable to China Digital TV Holding Co., Ltd. shareholders excludes share-based compensation expenses, and amortization of intangible assets acquired from business acquisitions. The Company believes that the Non-GAAP net income provides meaningful supplemental information regarding the Company's performance by excluding certain non-cash expenses that may not be indicative of its operating performance from a cash flow perspective. The Company believes that both management and investors benefit from referring to this additional information in assessing the Company's performance and when planning and forecasting future periods. However, the use of non-GAAP financial measures has material limitations as an analytical tool. One of the limitations of using non-GAAP financial measures is that they do not include all items that impact the Company's net income for the period. In addition, because non-GAAP financial measures are not measured in the same manner by all companies, they may not be comparable to other similar titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measure in isolation from or as an alternative to the financial measure prepared in accordance with U.S. GAAP. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/china-digital-tv-announces-unaudited-first-quarter-2017-results-300458881.html


BEIJING, May 19, 2017 /PRNewswire/ -- China Digital TV Holding Co., Ltd. (NYSE: STV) ("China Digital TV" or the "Company"), a leading provider of cloud platforms, with gaming and other applications embedded, to PRC digital television and telecommunication network operators, today announced that it has received notice from the New York Stock Exchange ("NYSE") that the NYSE has suspended trading immediately and commenced proceedings to delist the Company's American Depositary Shares ("ADS" or "shares") from the NYSE. Trading of the ADSs was previously halted on May 16, 2017. In its decision to commence delisting proceedings, the NYSE cited Section 802.01D of the NYSE Listed Company Manual, which may among other reasons prompt delisting when a company has sold or otherwise disposed of its principal operating assets or has ceased to be an operating company, alongside an NYSE concern about the timing and certainty of the Company's special cash dividend of US$1.50 per ordinary share. The Company has a right to a review, by a committee of the Board of Directors of the NYSE, of the NYSE delisting determination. The Company presently intends to exercise this right and appeal the NYSE's decision to delist its shares. While the Company does intend to appeal the determination, it is also now actively seeking other alternative listing arrangements and will announce those arrangements once they are finalized. During the appeal period and as alternative listing arrangements are put in place, the Company intends to continue to communicate all material developments to its shareholders through normal channels, such as SEC filings and press releases. The Company emphasizes that current shareholder ownership rights remain in place and all shareholders retain rights of ownership in China Digital TV. Most importantly, the Company remains fully focused on and committed to improving its ongoing operations. As highlighted in the recent first quarter earnings announcement on May 16, 2017 ("First Quarter Earnings"), the Company is making progress on increasing users, expanding its geographic footprint, and further diversifying its content offerings in the cloud business. Further, the Board of Directors is continuing to review potential opportunities to acquire new operating businesses or assets to further enhance operations. As announced when the Company reported First Quarter Earnings, the Board of Directors declared a special cash dividend of US$1.50 per ordinary share on April 21, 2017. The aggregate amount of cash dividend to be paid approximates US$90 million. Shareholders of record as of the close of business on May 31, 2017, U.S. Eastern Daylight Time, will be eligible to receive the dividend. The payment date of this special cash dividend is expected to be on or about June 15, 2017. The funds for the dividend, all of which have been received by the Company, will come from the proceeds previously received from the Beijing Super TV sale, after certain foreign currency exchange procedures are completed. So far, the Company's offshore account has received a portion of the proceeds in US dollars equivalent to 100 million Renminbi. The remaining proceeds are still in the procedures of currency exchange from Renminbi to US dollars. If the Company is unable to pay the dividend on June 15, 2017 due to the ongoing foreign currency conversion procedures, the Company commits to update the market with a new special dividend payment date as soon as possible. The Company does not believe the delisting process will impact the payment of this dividend to shareholders. Founded in 2004, China Digital TV is a leading provider of cloud platforms, with gaming and other applications embedded, to PRC digital television and telecommunication network operators, enabling them to bring these applications to household television sets and other mobile devices. For more information please visit the Investor Relations section of China Digital TV's website at http://ir.chinadtv.cn. This announcement contains forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended.  Such forward-looking statements are made under the "safe harbor" provisions of the 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," "may," "should" and similar expressions. Such forward-looking statements include, without limitation, statements regarding the outlook and comments by management in this announcement about trends in the cloud computing, cable television and related industries in the PRC and China Digital TV's strategic and operational plans and future market positions. China Digital TV may also make forward-looking statements in its periodic reports filed with the Securities and Exchange Commission, 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 China Digital TV'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 projections contained or implied in any forward-looking statement, including but not limited to the following: competition in the cloud computing, cable television and related industries in the PRC and the impact of such competition on prices, our ability to implement our business strategies, changes in technology, the progress of the television digitalization in the PRC, the structure of the cable television industry or television viewer preferences, changes in PRC laws, regulations or policies with respect to the cloud computing, cable television and related industries, including the extent of non-PRC companies' participation in such industries, and changes in political, economic, legal and social conditions in the PRC, including the government's policies with respect to economic growth, foreign exchange and foreign investment. Further information regarding these and other risks and uncertainties is included in our annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. China Digital TV does not assume any obligation to update any forward-looking statements, which apply only as of the date of this press release. For investor and media inquiries, please contact: To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/china-digital-tv-receives-notice-of-delisting-from-the-new-york-stock-exchange-300460399.html


News Article | May 18, 2017
Site: www.prnewswire.com

The Company has a right to a review, by a committee of the Board of Directors of the NYSE, of the NYSE delisting determination. The Company presently intends to exercise this right and appeal the NYSE's decision to delist its shares. While the Company does intend to appeal the determination, it is also now actively seeking other alternative listing arrangements and will announce those arrangements once they are finalized. During the appeal period and as alternative listing arrangements are put in place, the Company intends to continue to communicate all material developments to its shareholders through normal channels, such as SEC filings and press releases. The Company emphasizes that current shareholder ownership rights remain in place and all shareholders retain rights of ownership in China Digital TV. Most importantly, the Company remains fully focused on and committed to improving its ongoing operations. As highlighted in the recent first quarter earnings announcement on May 16, 2017 ("First Quarter Earnings"), the Company is making progress on increasing users, expanding its geographic footprint, and further diversifying its content offerings in the cloud business. Further, the Board of Directors is continuing to review potential opportunities to acquire new operating businesses or assets to further enhance operations. As announced when the Company reported First Quarter Earnings, the Board of Directors declared a special cash dividend of US$1.50 per ordinary share on April 21, 2017. The aggregate amount of cash dividend to be paid approximates US$90 million. Shareholders of record as of the close of business on May 31, 2017, U.S. Eastern Daylight Time, will be eligible to receive the dividend. The payment date of this special cash dividend is expected to be on or about June 15, 2017. The funds for the dividend, all of which have been received by the Company, will come from the proceeds previously received from the Beijing Super TV sale, after certain foreign currency exchange procedures are completed. So far, the Company's offshore account has received a portion of the proceeds in US dollars equivalent to 100 million Renminbi. The remaining proceeds are still in the procedures of currency exchange from Renminbi to US dollars. If the Company is unable to pay the dividend on June 15, 2017 due to the ongoing foreign currency conversion procedures, the Company commits to update the market with a new special dividend payment date as soon as possible. The Company does not believe the delisting process will impact the payment of this dividend to shareholders. Founded in 2004, China Digital TV is a leading provider of cloud platforms, with gaming and other applications embedded, to PRC digital television and telecommunication network operators, enabling them to bring these applications to household television sets and other mobile devices. For more information please visit the Investor Relations section of China Digital TV's website at http://ir.chinadtv.cn. This announcement contains forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended.  Such forward-looking statements are made under the "safe harbor" provisions of the 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," "may," "should" and similar expressions. Such forward-looking statements include, without limitation, statements regarding the outlook and comments by management in this announcement about trends in the cloud computing, cable television and related industries in the PRC and China Digital TV's strategic and operational plans and future market positions. China Digital TV may also make forward-looking statements in its periodic reports filed with the Securities and Exchange Commission, 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 China Digital TV'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 projections contained or implied in any forward-looking statement, including but not limited to the following: competition in the cloud computing, cable television and related industries in the PRC and the impact of such competition on prices, our ability to implement our business strategies, changes in technology, the progress of the television digitalization in the PRC, the structure of the cable television industry or television viewer preferences, changes in PRC laws, regulations or policies with respect to the cloud computing, cable television and related industries, including the extent of non-PRC companies' participation in such industries, and changes in political, economic, legal and social conditions in the PRC, including the government's policies with respect to economic growth, foreign exchange and foreign investment. Further information regarding these and other risks and uncertainties is included in our annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. China Digital TV does not assume any obligation to update any forward-looking statements, which apply only as of the date of this press release. For investor and media inquiries, please contact: To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/china-digital-tv-receives-notice-of-delisting-from-the-new-york-stock-exchange-300460399.html


News Article | April 21, 2017
Site: en.prnasia.com

BEIJING, April 22, 2017 /PRNewswire/ -- China Digital TV Holding Co., Ltd. (NYSE: STV) ("China Digital TV" or the "Company"), a leading provider of cable TV technology which enables China's cable TV and IPTV markets to offer diversified TV content services, today announced that it has filed its annual report for the fiscal year ended December 31, 2016 on Form 20-F with the U.S. Securities and Exchange Commission on April 21, 2017. The 2016 Form 20-F can be accessed on China Digital TV's investor relations website at http://ir.chinadtv.cn. Shareholders may also request a hard copy of the Company's complete audited financial statements, free of charge, by contacting the Company at ir@chinadtv.cn . Founded in 2004, China Digital TV is a leading provider of cloud platforms, with gaming and other applications embedded, to PRC digital television and telecommunication network operators, enabling them to bring these applications to household television sets and other mobile devices. For more information please visit the Investor Relations section of China Digital TV's website at http://ir.chinadtv.cn. For investor and media inquiries, please contact: To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/china-digital-tv-announces-filing-of-2016-annual-report-on-form-20-f-300443693.html


News Article | June 7, 2017
Site: www.prnewswire.com

OTC Market uses the due-bills procedure for the Company's special cash dividend. The ex-dividend date is expected to be on or about June 16, 2017. Founded in 2004, China Digital TV is a leading provider of cloud platforms, with gaming and other applications embedded, to PRC digital television and telecommunication network operators, enabling them to bring these applications to household television sets and other mobile devices. For more information please visit the Investor Relations section of China Digital TV's website at http://ir.chinadtv.cn. This announcement contains forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended.  Such forward-looking statements are made under the "safe harbor" provisions of the 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," "may," "should" and similar expressions. Such forward-looking statements include, without limitation, statements regarding the outlook and comments by management in this announcement about trends in the cloud computing, cable television and related industries in the PRC and China Digital TV's strategic and operational plans and future market positions. China Digital TV may also make forward-looking statements in its periodic reports filed with the Securities and Exchange Commission, 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 China Digital TV'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 projections contained or implied in any forward-looking statement, including but not limited to the following: competition in the cloud computing, cable television and related industries in the PRC and the impact of such competition on prices, our ability to implement our business strategies, changes in technology, the progress of the television digitalization in the PRC, the structure of the cable television industry or television viewer preferences, changes in PRC laws, regulations or policies with respect to the cloud computing, cable television and related industries, including the extent of non-PRC companies' participation in such industries, and changes in political, economic, legal and social conditions in the PRC, including the government's policies with respect to economic growth, foreign exchange and foreign investment. Further information regarding these and other risks and uncertainties is included in our annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. China Digital TV does not assume any obligation to update any forward-looking statements, which apply only as of the date of this press release. For investor and media inquiries, please contact: To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/china-digital-tv-announces-update-on-special-cash-dividend-to-shareholders-300470108.html


News Article | June 7, 2017
Site: en.prnasia.com

BEIJING, June 7, 2017 /PRNewswire/ -- China Digital TV Holding Co., Ltd. (OTC: STVVY) ("China Digital TV" or the "Company"), a leading provider of cable TV technology that enables China's cable TV and IPTV markets to offer diversified TV content services, today announced updates on the special cash dividend that the Company announced on April 21, 2017. As of June 2, 2017, the Company received the remaining sale proceeds in US dollars of its interests in Beijing Super TV Co., Ltd. As addressed in a press release dated April 21, 2017, the sale proceeds will fund the dividend payment. The Company expects to pay the dividend to shareholders on or about June 15, 2017, as initially indicated in a press release dated May 16, 2017. Shareholders of record as of the close of business on May 31, 2017, U.S. Eastern Daylight Time, will be eligible to receive the dividend. OTC Market uses the due-bills procedure for the Company's special cash dividend. The ex-dividend date is expected to be on or about June 16, 2017. Founded in 2004, China Digital TV is a leading provider of cloud platforms, with gaming and other applications embedded, to PRC digital television and telecommunication network operators, enabling them to bring these applications to household television sets and other mobile devices. For more information please visit the Investor Relations section of China Digital TV's website at http://ir.chinadtv.cn. This announcement contains forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended.  Such forward-looking statements are made under the "safe harbor" provisions of the 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," "may," "should" and similar expressions. Such forward-looking statements include, without limitation, statements regarding the outlook and comments by management in this announcement about trends in the cloud computing, cable television and related industries in the PRC and China Digital TV's strategic and operational plans and future market positions. China Digital TV may also make forward-looking statements in its periodic reports filed with the Securities and Exchange Commission, 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 China Digital TV'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 projections contained or implied in any forward-looking statement, including but not limited to the following: competition in the cloud computing, cable television and related industries in the PRC and the impact of such competition on prices, our ability to implement our business strategies, changes in technology, the progress of the television digitalization in the PRC, the structure of the cable television industry or television viewer preferences, changes in PRC laws, regulations or policies with respect to the cloud computing, cable television and related industries, including the extent of non-PRC companies' participation in such industries, and changes in political, economic, legal and social conditions in the PRC, including the government's policies with respect to economic growth, foreign exchange and foreign investment. Further information regarding these and other risks and uncertainties is included in our annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. China Digital TV does not assume any obligation to update any forward-looking statements, which apply only as of the date of this press release. For investor and media inquiries, please contact: To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/china-digital-tv-announces-update-on-special-cash-dividend-to-shareholders-300470108.html


News Article | July 20, 2017
Site: en.prnasia.com

BEIJING, July 20, 2017 /PR Newswire/ -- China Digital TV Holding Co., Ltd. (OTC: STVVY) ("China Digital TV" or the "Company"), a leading provider of cloud platforms, with gaming and other applications embedded, to PRC digital television and telecommunication network operators, today announced that it received notification on July 10, 2017, from New York Stock Exchange ("NYSE"), that the average trading price of China Digital TV's common stock had fallen below the NYSE's continued listing standard. The NYSE requires the average closing price of a security to be no less than US$1.00 per share over a consecutive 30-trading-day period. As of July 6, 2017, the 30-trading-day average closing price per share of the Company's common stock was US$0.97. In accordance with the NYSE's rules, the Company has a period of six months following receipt of the NYSE notice to bring its 30-trading-day average share price back to a minimum of US$1.00. The Company will respond to the NYSE to confirm its intent to regain compliance with the NYSE continued-listing standard identified in its notice within the required period. The Company will actively monitor its stock price and evaluate all available options to resolve the deficiency. The Company previously announced on July, 5 that it has appealed the NYSE Staff's commencement of delisting proceedings, which focus on the Company's compliance with other listing standards. The Company remains subject to all NYSE listing standards while that appeal is pending and it will be heard in October. The NYSE notification does not affect the Company's business operations or its SEC reporting requirements. The Company's stock has been trading on the OTC market under the ticker symbol "STVVY" since the NYSE suspended trading in May 2017. Founded in 2004, China Digital TV is a leading provider of cloud platforms, with gaming and other applications embedded, to PRC digital television and telecommunication network operators, enabling them to bring these applications to household television sets and other mobile devices. For more information please visit the Investor Relations section of China Digital TV's website at http://ir.chinadtv.cn. This announcement contains forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended.  Such forward-looking statements are made under the "safe harbor" provisions of the 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," "may," "should" "committed to" "intent" and similar expressions. Such forward-looking statements include, without limitation, statements regarding the Company's intent to regain compliance with NYSE listing standards. China Digital TV may also make forward-looking statements in its periodic reports filed with the Securities and Exchange Commission, 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 China Digital TV'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 projections contained or implied in any forward-looking statement, including but not limited to the following: competition in the cloud computing, cable television and related industries in the PRC and the impact of such competition on prices, our ability to implement our business strategies, changes in technology, the progress of the television digitalization in the PRC, the structure of the cable television industry or television viewer preferences, changes in PRC laws, regulations or policies with respect to the cloud computing, cable television and related industries, including the extent of non-PRC companies' participation in such industries, and changes in political, economic, legal and social conditions in the PRC, including the government's policies with respect to economic growth, foreign exchange and foreign investment. Further information regarding these and other risks and uncertainties is included in our annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. China Digital TV does not assume any obligation to update any forward-looking statements, which apply only as of the date of this press release. For investor and media inquiries, please contact:


News Article | July 20, 2017
Site: www.prnewswire.com

The Company will respond to the NYSE to confirm its intent to regain compliance with the NYSE continued-listing standard identified in its notice within the required period. The Company will actively monitor its stock price and evaluate all available options to resolve the deficiency. The Company previously announced on July, 5 that it has appealed the NYSE Staff's commencement of delisting proceedings, which focus on the Company's compliance with other listing standards. The Company remains subject to all NYSE listing standards while that appeal is pending and it will be heard in October. The NYSE notification does not affect the Company's business operations or its SEC reporting requirements. The Company's stock has been trading on the OTC market under the ticker symbol "STVVY" since the NYSE suspended trading in May 2017. Founded in 2004, China Digital TV is a leading provider of cloud platforms, with gaming and other applications embedded, to PRC digital television and telecommunication network operators, enabling them to bring these applications to household television sets and other mobile devices. For more information please visit the Investor Relations section of China Digital TV's website at http://ir.chinadtv.cn. This announcement contains forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended.  Such forward-looking statements are made under the "safe harbor" provisions of the 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," "may," "should" "committed to" "intent" and similar expressions. Such forward-looking statements include, without limitation, statements regarding the Company's intent to regain compliance with NYSE listing standards. China Digital TV may also make forward-looking statements in its periodic reports filed with the Securities and Exchange Commission, 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 China Digital TV'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 projections contained or implied in any forward-looking statement, including but not limited to the following: competition in the cloud computing, cable television and related industries in the PRC and the impact of such competition on prices, our ability to implement our business strategies, changes in technology, the progress of the television digitalization in the PRC, the structure of the cable television industry or television viewer preferences, changes in PRC laws, regulations or policies with respect to the cloud computing, cable television and related industries, including the extent of non-PRC companies' participation in such industries, and changes in political, economic, legal and social conditions in the PRC, including the government's policies with respect to economic growth, foreign exchange and foreign investment. Further information regarding these and other risks and uncertainties is included in our annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. China Digital TV does not assume any obligation to update any forward-looking statements, which apply only as of the date of this press release. For investor and media inquiries, please contact:


News Article | February 28, 2017
Site: en.prnasia.com

BEIJING, Mar. 1, 2017 /PRNewswire/ -- China Digital TV Holding Co., Ltd. (NYSE: STV) ("China Digital TV" or the "Company"), a leading provider of cable TV technology which enables China's cable TV and IPTV markets to offer diversified TV content services, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2016. "Last year was a meaningful year in the development of our company. Given the saturation of the Conditional Access ("CA") market and our strategic concentration on emerging and diversified opportunities, we decided to sell our traditional CA and CA related businesses," commented Mr. Jianhua Zhu, China Digital TV's chief executive officer. "For our emerging cloud business, we continued to witness solid growth momentum during 2016, primarily driven by rapid customer expansion. In particular, in the fourth quarter of 2016, we further expanded our geographic footprint to Shandong province through a partnership with Shandong Cable TV which covers over 20 million provincial users. In 2017, we will continue to optimize our operation and strengthen our involvement in our current partnerships, as well as expand into other growth opportunities." Mr. Zhenwen Liang, China Digital TV's chief financial officer, stated, "We are glad to end 2016 with robust growth in our cloud business. Additionally, in December 2016, Beijing Cyber Cloud Technology Co., Ltd. ("Cyber Cloud"), a subsidiary of China Digital TV, received a RMB33 million strategic investment for 10% equity ownership in our cloud computing business. After the capital injection, China Digital TV now maintains 58% ownership of the subsidiary's equity. Looking ahead, we are committed to developing new growth opportunities and generating further value for our shareholders." About the Sale of Beijing Super TV As referred to a press release dated January 11, 2017, the Company received the sales proceeds from the buyer through its Chinese affiliate. Beijing Super TV also completed the change of its business registration with the Beijing Administration for Industry and Commerce. The buyer is in the process of converting RMB into US dollars. As of December 31, 2016, the Company no longer controls the business of Beijing Super TV. As a result, the Company will no longer conduct CA or CA related businesses, such as smart cards. The Company will focus on emerging growth opportunities. Pursuant to the generally accepted accounting principles in the United States ("U.S. GAAP"), the Company's financial statements have reflected the effect of the discontinued operation of its CA and CA related businesses. Comparative adjustments to the historical statements of operations have also been made to provide a consistent basis of comparison for the financial results. Specifically, the operational results of the CA and CA related businesses have been excluded from the Company's financial results from continuing operations and have been separately presented under discontinued operations. China Digital TV's net revenues decreased by 34.8% to US$0.8 million from US$1.2 million in the prior year period. The decline in net revenues was primarily due to decreased revenues from system development in the fourth quarter of 2016. Cost of revenues decreased by 10.4% to US$0.6 million from US$0.7 million in the prior year period. The decline in cost of revenues was primarily due to a decrease in cost of revenues from system development in the fourth quarter of 2016. Gross profit in the fourth quarter of 2016 was US$0.2 million, as compared with US$0.5 million in the prior year period. Gross margin, which is equal to gross profit divided by net revenues, was 24.4% in the fourth quarter of 2016, compared to 45.0% in the prior year period. Operating expenses in the fourth quarter of 2016 decreased by 8.2% to US$2.9 million from US$3.2 million in the prior year period. Loss from operations in the fourth quarter of 2016 was US$2.7 million. It remained relatively stable as compared with the prior year period. Income tax expenses in the fourth quarter of 2016 decreased by 40.0% to US$0.05 million from US$0.09 million in the prior year period. Net income attributable to holders of ordinary shares in the fourth quarter of 2016 increased to US$46.3 million from US$2.3 million in the prior year period. The increase was primarily due to the gain from the sale of Beijing Super TV. Non-GAAP net income[2] attributable to holders of ordinary shares in the fourth quarter of 2016 increased to US$46.9 million from US$2.3 million in the prior year period[3]. As of December 31, 2016, China Digital TV had cash and cash equivalents, restricted cash, and term deposits totaling US$124.4 million. China Digital TV's net revenues increased by 120.2% to US$4.2 million from US$1.9 million in the prior year. The increase was primarily due to an increase in revenues from the cloud platform operations. Cost of revenues in 2016 increased by 9.9% to US$1.5 million from US$1.4 million in the prior year. Gross profit in 2016 increased by 402.0% to US$2.7 million from US$0.5 million in the prior year. Gross margin, which is equal to gross profit divided by net revenues, increased to 64.1% in 2016 from 28.1% in the prior year. The increase in gross margin was primarily due to an increase in the cloud platform operations, which have a comparatively higher margin than the Company's other continuing operations, such as system integration and system development. Operating expenses in 2016 decreased by 24.7% to US$12.1 million from US$16.1million in the prior year. Loss from operations in 2016 narrowed by 39.5% to US$9.4 million from US$15.6 million loss from operations in the prior year. Income tax expenses in 2016 decreased by 61.0% to US$0.1 million from US$0.3 million in the prior year period. Net income attributable to holders of ordinary shares in 2016 increased to US$45.4 million from US$1.5 million in the prior year. The increase was primarily due to gain from the sale of Beijing Super TV. China Digital TV's management will host an earnings conference call at 7:00 p.m. on Tuesday, February 28, 2017, U.S. Eastern Time (8:00 a.m. on Wednesday, March 1, 2017, Beijing/Hong Kong Time). A replay of the call will be available for one week between 9:00 p.m. on February 28, 2017 and March 7, 2017, U.S. Eastern Time. Additionally, a live and archived webcast of this call will be available on the Investor Relations section of China Digital TV's corporate website at http://ir.chinadtv.cn. Founded in 2004, China Digital TV enables television network operators to manage, extend and diversify TV content services across households and public areas in China. Leveraging its legacy corporate relationships with China's cable television industry, China Digital TV has become a leading provider of cable TV technology which enables Chinese cable operators to offer mobile gaming apps and other entertainment content on household television sets throughout China, as well as extend cable programming outside the home to any subscriber's mobile device. For more information please visit the Investor Relations section of China Digital TV's website at http://ir.chinadtv.cn. This announcement contains forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Such forward-looking statements are made under the "safe harbor" provisions of the 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," "may," "should" and similar expressions. Such forward-looking statements include, without limitation, statements regarding the outlook and comments by management in this announcement about trends in the cloud computing, cable television and related industries in the PRC and China Digital TV's strategic and operational plans and future market positions. China Digital TV may also make forward-looking statements in its periodic reports filed with the Securities and Exchange Commission, 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 China Digital TV'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 projections contained or implied in any forward-looking statement, including but not limited to the following: competition in the cloud computing, cable television and related industries in the PRC and the impact of such competition on prices, our ability to implement our business strategies, changes in technology, the progress of the television digitalization in the PRC, the structure of the cable television industry or television viewer preferences, changes in PRC laws, regulations or policies with respect to the cloud computing, cable television and related industries, including the extent of non-PRC companies' participation in such industries, and changes in political, economic, legal and social conditions in the PRC, including the government's policies with respect to economic growth, foreign exchange and foreign investment. Further information regarding these and other risks and uncertainties is included in our annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. China Digital TV does not assume any obligation to update any forward-looking statements, which apply only as of the date of this press release. For investor and media inquiries, please contact: Non-GAAP net income attributable to holders of ordinary shares excludes certain non-cash expenses, such as share-based compensation expenses, amortization of intangible assets acquired from business acquisitions. The Company believes that the Non-GAAP net income provides meaningful supplemental information regarding the Company's performance by excluding certain non-cash expenses that may not be indicative of its operating performance from a cash flow perspective. The Company believes that both management and investors benefit from referring to this additional information in assessing the Company's performance and when planning and forecasting future periods. However, the use of non-GAAP financial measures has material limitations as an analytical tool. One of the limitations of using non-GAAP financial measures is that they do not include all items that impact the Company's net income for the period. In addition, because non-GAAP financial measures are not measured in the same manner by all companies, they may not be comparable to other similar titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measure in isolation from or as an alternative to the financial measure prepared in accordance with U.S. GAAP. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/china-digital-tv-announces-unaudited-fourth-quarter-and-full-year-2016-results-300415035.html


News Article | February 28, 2017
Site: www.prnewswire.com

BEIJING, Feb. 28, 2017 /PRNewswire/ -- China Digital TV Holding Co., Ltd. (NYSE: STV) ("China Digital TV" or the "Company"), a leading provider of cable TV technology which enables China's cable TV and IPTV markets to offer diversified TV content services, today announced its unaudited...

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