UAVs can be used as a weapon of terror attacks

If you want to understand last week a $ 400 UAV landing after the White House why the US government shocked, you'll need to look at four miles play Free Dora Games outside of Arlington, Virginia (Arlington) in a small meeting room. A few days ago, in this place, the US military, the Department of Homeland Security, and the Federal Aviation Commission (FAA) Homeland Security officials held a "summit" to discuss a number of years to make them distressed question: UAVs are They used the possibility of a terrorist attack or assassination weapons. The meeting was held for the civilian population, but admission is expressly prohibited media. One participant said was very impressed. US government officials played a low-cost UAV video transmitter semi-automatic weapons, the disclosure of the Syrian opposition are importing consumption level of drones to attack and play a number of $ 5,000 to launch drones against armored vehicles attack maneuvers photo (UAV final win). But the most eye-opening is a demonstration outside the venue of the stage, a group of low-cost UAVs armed bomb into a flight simulator. Wherein drone installed weighs 3 lbs inactive bomb, which is Dajiang (DJI) Phantom drones after 2, it is also one week coming to an updated version of the White House UAV. Herbert named Daniel (Daniel Herbert) attendees on their website published a photo and details of the meetings. But in the event the next day after the White House, Department of Homeland Security to call him, asking him to remove the article. He did. "I do not want to challenge the Department of Homeland Security, do not want to cause any trouble." Herbert said. He Delaware opened a small shop UAV called Skygear Solutions. Of course, the UAV to the White House does not carry any explosives nor operated by terrorists, but a man in Washington drones out of control when playing lead. But scrutiny event Houhebote encounters illustrate how serious this matter is for the anti-terrorist branch. UAV manufacturer's decision China Dajiang company's consumer drones often appear in the attack scene conceived in the United States government. This is not because there is anything sinister drone place, on the contrary, can be said Dajiang UAV UAV iPod field, it is cheap, easy to operate, for the game and beginners, and experienced no human-computer enthusiasts, are very popular. UAV Landing White House caused widespread concern, Dajiang companies feel the need to take some measures. So last Thursday, the company's Phantom 2 drone was "forced firmware upgrade" to prohibit drone flew from the White House within a radius of 15.5 miles. This is also the only company so far to take a GPS geofencing protective measures UAV manufacturers. For Dajiang companies, this is not a new technology. The company in April last year for the first time to set up a no-fly zone UAVs, unmanned aerial vehicles to prevent novice flew over the airport and other restricted areas, or they may interfere with normal flights taking off and landing. If the user of the Phantom 2 drone flew from the airport in a large no-fly zone five miles where the maximum altitude UAV will continue to decrease. Where at a distance of 1.5 miles, the UAV will fall down, and refused to take off again. Small airport flight zone protected area is small, which is also implanted drone firmware. For Dajiang companies, airports are both no-fly zone in response to the growing popularity made for Phantom 2 drone, but also protection against the threat of regulation. "We're starting to see the gradual expansion of the pilot team," company spokesman Michael Perry (Michael Perry) said that many users do not know where to fly drones legally, where can not fly. "I'm sure, at the White House event, which certainly do not know the name of the user in the city of Washington, DC, flight is illegal." Dajiang companies do not indulge in the study area of ​​responsibility of the local flight play Bubble Shooter Classic regulations pushed onto the customers, but these provisions compiled code, but also add a layer of buffer for their own safety. According to Perry reports, the White House perimeter drawn geofence just its second such measures outside the airport, the first in Tiananmen Square in Beijing. Of course, this will not be the last. Now the company has perfected the ability to establish a fence in the sky to draw a boundary. Dajiang company is preparing an upgrade, the airport no-fly zone number from 710 to 10,000, and prevent users from flying over some of the borders, it is because drug traffickers have recently discovered that a small amount of drugs to try to use unmanned aerial vehicles into the United States from Mexico . "I want to go to any place." But this geofence has also drawn a lot of criticism, many fans angrily pointed out their favorite regional flight suddenly be included in the company's no-fly zone Dajiang. "I live in a no-fly zone, I think a company trying to limit my use of UAVs behavior in the vicinity of his home is very annoying." An expression of dissatisfaction for users geofence settings. "In theory, every place can become a restricted zone," Another user complained that "Thank you, but no thank you. If you spend thousands of dollars to buy a drone, I want to want to go anywhere, as long as the flying height of less than 400 feet, 500 feet from the airport outside. " "This is not the result desired by the user," another critic said, "I have a good relationship with the local airport, and has worked in every local tower and a control center. I got permission to fly in these places they are also very welcome, but this 'upgrade' deprived of my control. " Washington University Law School professor Carol Ryan (Ryan Calo) that such emotional resistance from two aspects. "First, to limit innovation complaint, the second is that you should have your own stuff, this is a free issue: corporate control and personal control," Carol said, "I bought something with it, but the other one was able to control my own thing, which is to meet the interests of other people, not my interest. " In other words, Dajiang company flew into a center of controversy in the Internet. No-fly zones have become ubiquitous technology: Lexmark printers and Krieger coffee machines are programmed to disable the third-party cartridges and coffee packets; automobile dealers began selling the program to install the remote flameout hire car owners, so if the owner defaults on payment defaults, they can let the car stall. In 2009, the number of Kindle users find that Amazon can remotely delete books they are reading, because Amazon cleared the George Orwell novel this e-book reader on the "1984" and play Nail Games "Animal Farm", after the Amazon CEO Jeff Bezos (Jeff Bezos) special apology. "UAV flying over Washington and the fall seems to be a trivial matter, but there was a dispute between individuals." Privacy group Electronic Frontier Foundation (EFF) active person Shi Pake Higgins (Parker Higgins) in blog He said, "but these small-scale debates have something to reflect on what it means to view, but also reflects the manufacturer's growing user behavior control." Geofence can not stop terrorist activities Dajiang Company flight activities user intervention some users worried, but it is likely to reduce the White House last week, landing such accidents. But officials in Washington are concerned, this is simply not sufficient to eliminate their fears: the UAV bomber would likely used as a weapon. One reason is that: a big fan of the UAV is likely to become an excellent Tinker, sooner or later they will have developed a method to break the blockade firmware and made public, so that everyone can take advantage of. "There does not exist any hacking geofence eliminate or downgrade the firmware," Herbert said, "but I think it would certainly appear, one can always find a way." But he also pointed out, do not want to subject geofenced UAV user in fact there are many to choose from. For example, Dajiang companies upgrade just for the series Phantom 2 drone, while the protagonist of White House events, the older version of Phantom 1 products are not included. Further Phantom 2 user only after the UAV and networked PC or Mac connected will be forced to upgrade. The company believes that if you really want to fly freely in the process, then you can go buy a competitor's product. "We offer multiple protection against hacking cracks," Michael Perry said. But for those people who are determined to circumvent geographical fence, "There is a very simple solution, that is to buy the other a drone." Perhaps it seems that this method is effective, but it is clear that legislative bodies and regulatory agencies will be forced to play Hair Games upgrade Dajiang company inspired the entire industry to promote geofence practices. By that time, crack UAV firmware is illegal, as illegal as cracking car program.

City dating APP withdrawing money scam

If one day, in a moment of a city of some houses, lonely emptiness suddenly make you intolerable, so you took out play Baby Games the phone, enter the keyword "about" in the Apple store or Android, and soon you will see a slip children city friends APP line appears, the temptation to send out signals Fubai beautiful awl face image of the beautiful: about it. After entering the APP, waiting for you is more wonderful adventure: beautiful picture frequently flashing, multi-color value is ashamed greet your daily level, the difference is that this time will not be pretty eyes flicker from let Cock wire looked embarrassed and disdain . "You can know about you?" They asked. Just when you choose "Reply" moment, a money scam sucked quietly opened. Lonely people want to get solace APP by city friends, actually got was just a trap. Il Mare Whether Apple or Android store, city friends in class APP abound. Recently, Tencent Technology in the Apple and Android stores gradually enter the keyword "about", "city", "love" and other keyword search, similar to the city friends have hundreds of classes APP, the name tends to be straightforward, such as: night about, about love, intimate city approached, fate, love, passion, love fast, city meet it, find love and so on. In addition to attractive beautiful photos, these APP compared with common dating class APP in the initial operation, seems to be no exception. In the "city Private strike" for example, after registration into the APP, first appeared Recommended page, showing the other sex in the same city, the user can select greeting heart heterosexual, the system will automatically match the object based on the profile. However, people doubt that, although this APP after ranking in the app store very near annihilation by unknown whose user activity is unusually high. Artesyn Technologies in the trial of five minutes, received five or more active heterosexual approached. "What are you looking for," "I love what you do not know what I suit you," such as these two highly similar greeting, issue the difference in time is only one minute. If you choose "Reply", the page will automatically jump into the "purchase of services", wrote monthly price of 50 yuan per month, members can enjoy all the privileges and services supreme station is 3 months 188 yuan. But after the purchase, a strange thing happened: the original hair enthusiastic to greet all the beautiful women who silenced with enthusiasm the initiative before a different person, no matter how many messages are issued not reply. Similar situation also appears in "about love" and other similar APP, the only "about love" The difference is that the system can be play Dog Games set free reply to a private letter, this reply and then, you need to purchase within the application services. On the social networking site, Tencent Technology found a large number of similar users report. City dating APP use the reach of "Lovers" weave a seductive illusion, its real purpose is to get money. Tencent Technology found in different capacities to experience, to receive more male users apparently approached. Approached these two things in common: First, fast, such as "about love", Artesyn Technologies received first approached the registration is completed within 30 seconds; the second is to strike up more questions mainly attract the user replies, but questions and broadly consistent with the content, such as "What do you do", "What is the criteria to find the object," "you can know about it", "you are who you XX", "in it? want to see you look at my body, "" you can see it, "and so, a bit suspicious. However, people think Zhenjiamobian is accosted by photographs of different styles, not all the peripheral Fubai beautiful female self-timer, some of the girls in daily life is actually really nice. This allows users to be approached very easy to produce popular realism. So, these "phishing" What is the identity of the girls? "Fishing" secrets "You can know about it? I was born in 1989, height 163, hoping to learn more about you some." This is Tencent Technology in "about love" to complete the registration within 30 seconds receive a call from a user initiative "Snow Mei" in. Information in the system, the 26-year-old girl dressed in red, white teeth bright eyes, the girl next door full range of children. Of course, after the purchase of monthly replies, "Snow Mei" disappeared. "Snow Mei" may not be real. Artesyn Technologies APP from a number of developers had learned that city dating class APP in fact, most users of virtual users, that is, the user receives enthusiastic approached is automatically issued. This seems to be a testament to that sentence a long time ago; the Internet, you will not know who is talking to you or the dog. At the technical level, the creation of such a "Snow Mei" is actually very simple. The first is to steal identities. A technology developer to Artesyn Technologies, they can set the program from other large social platforms secretly crawl user photos and nicknames, then matching generate virtual users. With these real information stolen, machine-generated virtual users will have with the humans pass. After the birth of virtual users, developers will set the language library, which automatically calls the content into a virtual user messages, when the subscriber line is automatically pushed past the illusion of a high activity on the well. Everything is ready, just waiting for the bait. When the user enters APP, "Snow Mei" who began to automatically identify, issued warm greeting. Currently, these routines suck money APP mostly similar trick users buy monthly or annual private letter or VIP service. Of course, pay later you will find that they have been stuck scam - those of the opposite sex can not respond to talk, because they are virtual. Tencent Technology survey found that in the night about about love, intimate city approached, fate, love, passion and other city dating APP, there are several downloads in a single platform to over one million. "Even if one percent of active users according to calculations, should also have hundreds of thousands of users," according to informed sources. These involve social APP lie mainly for second and third tier and rural users, relatively hidden promotion channels, such as unfamiliar street, mobile phone games. Because single deceived amount is not high, many users after the discovery of the scam are often dropped. In fact, according to the Beijing Hui-law firm lawyer Zhao occupation introduced in the online dating process, if one of the parties which is play Cat Games a virtual communication program, the software user guide others through the virtual payment, suspected fraud. In this standard, these city social classes APP has been arrested for fraud. Phantom chain network Variety Comparison city friends after class APP difficult to find, hoping to induce others to pay for APP with common characteristics through virtual users. For example, the APP hardly be updated; developers often added to a variety of similar functions, only the name and UI slightly different products; Apple and Android stores comment was polarization, a star of fraud complaints very bad review easy to be overwhelmed by the five-star praise; in addition, the developer is difficult to find real information. For example, "about love", which is an Apple store and Android market can be found to the city dating class APP, app store download information and normal display, its developers for the Beijing-Technology Co., Ltd. sets, a plurality of yellow pages indexed revealed that the company address Daxing District, Beijing Anding town East industrial zone No. 555, the legal representative for Li Guangming, but Beijing enterprise credit information network, finding out the registration information for this company. And about love PC end official website shows its offices in the Da Wang Road, Chaoyang District, Beijing, No. 88, and the Yellow Pages business address and display discrepancies. Artesyn Technologies call about love official online customer service calls, customer service woman connected to the phone, when asked about their Artesyn Technologies office at which time, the customer service staff was extremely wary, reluctant to say; when asked about their official website Tencent Technology when the jobs, the customer service staff also said that no knowledge. However, not all city dating class APP official website will be the development of the PC, and most developers can not search on the web any relevant information. As they develop virtual users, these companies like Phantom of the night, floating in a networked world, make it difficult to see the real body. Liar city around social class APP, these invisible company has been formed from the development, promotion shelves to a complete industrial chain. Industry insiders to Artesyn Technologies introduced, a name of "about" social software word signs of walking a fine line, it is possible next month without publicity the case, download and use the number of over one million. Most members of social software prices are plus or minus 50 yuan to pay the rate of one per cent, such a social software monthly income can reach 50 million. Compared with the benefits, the cost of crooks seem somewhat insignificant. After asking a number of Artesyn Technologies APP development companies learned from scratch to develop a similar function of APP, double version (including Android and iOS) quoted in the 60,000 to 200,000 range, if only in the source code base the simple UI, name changes, the cost of a single 5 1000-10000. In the service trading platform Pig, some developers even said, with a "want to love", "Love refining" feature similar to APP offer as long as 3,000 yuan, the same day can be on the line. Supporting recognition crawler, such as automatic go QQ space, Baidu Post Bar and other social networking platforms crawl facial recognition, registration, only 1,000 yuan, is not recognized only crawl is as low as 300 yuan. Developers also said that, after registration for new users push message software for free gift. On-line lower cost. Artesyn Technologies learned that Apple Store on the line just to spend $ 99 to register a developer account, but the cost of each play Girl Games line Android market is almost zero. Therefore, some APP development company also said that, you can pack on-line services. As for the risk, said developers need to worry about. Large-scale application store will force developers to access a specified payment system, once the face of customer complaints, developers need to be treated, or will be subject to penalties under the shelf, but as long as the customer complaints were handled properly, is not the basic problem. As for some small applications market, almost no regulatory mechanism.

Sogou traffic mainly from Tencent mobile channel

Credit Suisse analyst: Ogawa mentioned earlier, mobile Sogou search revenue has accounted for 17% of total revenue,play Angela Games then the user traffic contribution ratio is the number of mobile search? Compared with the previous quarter, what changes? Where Sogou major mobile search traffic sources? Sogou mobile search applications or other channels? Ms. Yu: Let me answer the second question, the current search dogs most mobile traffic from cooperation with Tencent generated in which a relatively large piece from the mobile QQ browser. Currently Sogou search traffic accounted for less than half of mobile search traffic. Credit Suisse analyst: Can you disclose the 2015 budget video content? Charles Zhang: We do not publish video content 2015 budget. It may be said that the first quarter is relatively high budget for a quarter, mainly due to Sohu bought "Chinese good song." Bank of America - Merrill Lynch analyst: about your brand advertising business, can you tell us about your large customer industries in 2015 overall advertising budget? What is the trend compared with 2014? Zhang: You mean our portal advertising or video advertising business? Bank of America - Merrill Lynch analyst: I want to know your online advertising budget change these advertisers overall. In addition, these advertisers a variety of media channels is what kind of view? Zhang: The overall trend is that advertisers are putting more television advertising budget to invest in online video advertising. For portal advertisers, and now they are very interested in mobile advertising, particularly advertising news client. Bank of America - Merrill Lynch analyst: For the mobile terminal advertising, do you think the industry trend is to turn to pay-for-like PC or terminal as more of a pay-per-time show? Charles Zhang: both. I would like to finish on a problem, in fact, inventory is more mobile side, because people spend on average two hours a day using the computer, and spend more than 10 hours using a cell phone, the mobile terminal can perform ad impressions longer. Moreover, since people use the phone closer to the eye, in fact, better advertising. 86 Research Analysts: about your portal business revenue proportion of the contribution from the mobile terminal, you referred to the fourth quarter of 2014, about one-third, I would like to know the 2014 third quarter and the fourth quarter of 2013 portal business income proportion from the mobile terminal is the number? How revenue growth this year is expected to end mobile portal business case? Charles Zhang: the growth of mobile portal business end very quickly. (Third quarter) contributed about 20% of total portal revenue in the first quarter is expected to be 40% in 2015 as a whole, then is expected to exceed half of the portal advertising revenue from the mobile terminal. Currently PC portal flow remains constant, but the rapid growth in mobile traffic end, we are in a transitional stage of the advertising business, not only in the past with our advertisers PC side portal started cooperation in mobile advertising end, we are developing those PC end not worked with advertisers to move side to vote in advertising. At the end of 2013, when the mobile terminal revenue contribution portal business is still zero. Barclays Asia Analyst: Sogou fourth quarter of the number of ads the main number? Sogou income did not come from there and Tencent micro-letter play Baby Games search-related? If not, the future of this area have a chance? 2014, Sogou search business net profit rate is about 8% in the future, Sogou net profit margin will stabilize at what level? Ms. Yu: Sogou fourth quarter of 2014, the number of advertisers has reached 60,000, an increase of 8 percent compared with the third quarter. Search micro-channel content currently we do not yet commercialized, we hope to be more of a difference through the micro-channel content search, Sogou search applications to make greater competitiveness, promote the overall development of Sogou search. Our main task in 2015 is to increase user and market share, particularly in the field of mobile Internet. Development and marketing aspects will increase investment, so margins may fluctuate, but the absolute amount will increase as incomes expand. Barclays Asia Analyst: Do you think that after two years of Sogou profit margins can be stabilized at what level? Ms. Yu: We have no plans in this regard. Charles Zhang: Sogou search business is typical, you can study other search engines profit margin by reference. CICC analyst: You mentioned in 2015 will increase Sogou marketing investment, then this budget is how much? Which means you will be taken to promote? Ms. Yu: In the end we are more wireless phones pre-installed by 2015 will increase the amount of pre-installed, in addition we do not disclose the specific amount and plans. The brand will continue to invest, because we now have are different measures of competitors. CICC analysts: How do you see 2015, "Sohu focus" trends? Carol: The first quarter is the low season for the real estate business, in addition to year-round business is difficult to predict, after all, the industry affected by government policies too. Goldman Sachs analyst: Can you tell us about all the different data of the mobile terminal and PC terminal in the commercial areas, such as CPC (cost per click) and earnings per impression (Revenue per impression) and so on? In addition, the current needs of advertisers which industries is relatively strong, which relatively weak? Ms. Yu: Currently, from the liquidity point of view, the mobile terminal RPM (revenue per thousand users obtained) and PC correct edging closer,play Barbie Cooking Games we found that the types of customers with the PC end of the movable end is still very close to the top five industries including medical, electricity supplier, games, business services and investment with the PC industry's top five advertisers end coincide. Goldman Sachs analyst: You talked about the company's focus to include swim and Sohu and other services cost control, and see results in 2015, can you tell us about the specific measures taken to save costs, as well as specific cost cuts ? Charles Zhang: the end of 2014 and the first quarter of 2015, we have such a dip in a lot of business, Sohu car, Sohu focus, etc. have been layoffs, compared with the peak period last year, our total number of employees fell by about 13% in the first layoffs quarter has been basically completed. In addition, we will video content cost cuts, although the first quarter of the cost of video content will be higher, but the rest of this year will decline. We will buy through the best budget blockbuster content to keep the number of users and traffic. Morgan Stanley analyst: For video services, you mentioned the contribution has accounted for 60% of the traffic, the revenue contribution of the mobile end is how much? There is a fourth-quarter net income from 56 is the number of users to pay to watch a video of how much revenue? In fact, at present the major video sites for copyright purchase price war did not stop, what do you think when the head? And ultimately the industry will be what the situation? Charles Zhang: mobile video service revenue contributed about a third end and continues to grow, the growth rate may be less mobile portal business end. About the future of the industry situation, I think the experience has proven Youtube, online video final PGC (specializing in the production of content play Barbie Games partners) will be part of a larger proportion of some smaller studios will contribute more; there is there will be more advanced video advertising system, so that advertisers will have more forms of advertising, not only is the current brand advertising, to have more accurate advertising appears, advertisers opportunities to SMEs; there is the user revenue-per-view will increase.

Swim executives to discuss results: 10 products released this year hand tour

Credit Suisse analyst: You mentioned the opening of the "Dragon" average daily revenues increased by 25%, I would like to play Olaf Games confirm this is only include the "Dragon" PC version of the income? Your daily income statistics is what time? You 2015 PC version of "Dragon" earnings will show how the trend? "Dragon" studio head Weiqing: For 25% of the average daily revenue growth of our statistical average exceeds one month time period. Before we do a lot of promotions, so in (2014) in the first quarter and second quarter, when we "Dragon" income is relatively high, but we also found that promotions do more, the future will be tired, (the follow-up ) daily daily income will be low. So from the third quarter, we changed the strategy to reduce the promotion, the game return to a natural state. We are very pleased to see that after the return to normal state, in fact, the average daily income in the fourth quarter than in the second quarter also increased by 25%. About 2015 "Dragon" full year revenue trend, in fact, the reason why we had to cancel a number of promotional tools, on the one hand but also to extend the "Dragon" life cycle since 2015, "Dragon" has entered the the eighth year, this year's tour throughout the development plan, since "Dragon" is a community-based game, the first eight years of a lot of players play the game is not simply due to the fact the game itself, so in 2015, we We will do some community related stuff outside of the game, to enhance the "Dragon" advantage in terms of the gaming community. Overall, I think the full year 2015 earnings "Dragon" end of tour will maintain a strong state, compared to the fourth quarter of 2014, revenues probably will be relatively flat. Credit Suisse analyst: "Dragon 3D" is a tour of the $ 65 million net income, or water? This part of the revenues recorded in the fourth quarter dip? 2015, how much money you hand travel on the line? Chen Dewen: "Dragon 3D" $ 65 million is the revenue stream that contains give the channel's share. Carol: This income has been credited to our fourth quarter earnings. Chen Dewen: 2015, we have 15 or so hand tour will be released. 86 Research Analysts: My question is related to the previous question, you just expect the first quarter, "Dragon," the end of the tour revenue will remain flat to answer questions, however, earnings in the first quarter of prediction you expect a slight decline in revenue to the game, then, taking into account the first quarter, in fact, "Dragon 3D" hand tour will have an entire quarter revenue contribution, but overall gaming revenues declined What is the reason? Because the page travel revenues will drop it? Zhou Jing: "Dragon" and the end of the tour "Dragon 3D" hand tour revenues remained stable, but several other games have entered a mature stage, the income of these games are expected to decline, so bring the whole final revenue will be falling. 86 Research Analysts: After you open account for other mobile games and will be "Dragon 3D" water meter as income? Zhou Jing: Yes. 86 Research Analysts: either self-developed or travel agent will be carried out by hand and financial accounting is not it? Zhou Jing: Yes. Barclays Asia analyst: "Dragon 3D" to the current trend in January of income how? What are the specific game in the first quarter revenue decline will occur, "Divine Comedy" and "Bouncing Church" and page tour income trend is what? Chen Dewen: "Dragon" end of the tour and income "Dragon 3D" hand tour in the first quarter will remain stable for at least, may rose, however,play Talking Angela Games because the old web games and other first-quarter revenue will end tour decline, so the overall gaming revenues in the first quarter will be down slightly. Carol: about a problem before, I need to correct it, we only credited $ 50 million for "Dragon 3D" revenue in the fourth quarter, and the remaining income is credited to income in future quarters. Barclays Asia Analyst: This quarter earnings appeared a deal worth $ 15 million to non-controlling interests, and what about this? Zhou Jing: This is mainly caused by impairment RaidCall. Bank of America - Merrill Lynch analyst: "Dragon 3D" operations now, you observe what kind of user groups? "Dragon 3D" hand tour and "Dragon" end user overlap tour how much? Gaming Operations Officer: "Dragon 3D" is the first tour of severe hand tour, so it's user base and PC users travel a great coincidence, we go through the statistics, "Dragon 3D" hand tour tour ends with severe overlap of about 70%. Note that I said user overlap "Dragon" hand tour with severe end of the tour, not the user overlap with the "Dragon" side trips. Morgan Stanley analyst: on the client PC games, the traditional end of the tour at the various vendors are in 100% of the energy steering hand tour developers, end tour there generally only maintain the old game; there are some from here and swim South Korea to introduce the end of tour, I would like to know in addition to maintaining the "Dragon" and other old tour ends outside the 2015 tour there any new development plan for the end of the tour? Chen Dewen: We have four models of the large end of the tour is developing the project, the four product development cycle over three years. For the tour, the tour ends future development and investment, we are cautiously optimistic. We will not give the client game market, while the new portion of our revenues will depend on the introduction of overseas high-quality large-scale client game, in addition to the need to clarify that we are not only in the overseas introduction of the game from South Korea, including South Korea and European and American game. In addition to research at the end of paragraph 4 reserve tour, we have more than 10 models of agents of the game. Morgan Stanley analyst: How do your current platform strategy previously formulated? About 17,173 websites, whether it is an integral part of the tour business, or no longer belongs to the core business? Chen Dewen: 17173 strategic direction will continue until, that is, to do the gaming industry media. Goldman Sachs analyst: first question, with your hands gradually increased travel, your overall operating margin will be what kind of play Barbie Dress Up Games development trend? Second, how the current development trend of mobile games business and channel sharing ratio of? Gaming Operations Officer: The next tour will develop hand travel business, because the hand has a relatively high travel into channels, so the company's overall profitability will certainly decline in the future. Hand travel channel into context, iOS platform currently is 30%, while Andrews channels divided between 40-50%. We believe that, at least within the next year, the industry average sharing ratio will not be changed. CICC analyst: Fourth quarter, your earnings in the relatively high cost of operation and management, including the number of layoffs and severance pay? By 2015, the number of employees will swim how to develop? Zhou Jing: the fourth quarter, our employees and the carding optimization, general operating and administrative expenses resulting $ 16 million. Chen Dewen: in 2015, we have no large-scale personnel optimization plan. JP Morgan analyst: Can publish "Dragon 3D" some operational data, such as the number of active users and pay rates? The life cycle of the game is expected to be long? A dip in the second quarter there will be some other hand travel release, including whether there will be one that can achieve the "Dragon 3D" level? Gaming Operations Officer: We do not disclose a single game of operational data. But from the average revenue per user (ARPU) point of view, "Dragon 3D" is a heavy game, so higher ARPU. So far, "Dragon 3D" has been operating for three months this past January and November last year, roughly equal income in December. Since we operate hand travel time is relatively short, so the forecast is not good follow-hand tour of the life cycle. From the average level of the industry, the hand travel life cycle is shorter than the end of the tour, we want to use the PC play a large developed swim accumulated core competencies, coupled with the "Dragon" end of tour years of precipitation registered users basis, to extend the "Dragon" hand tour of the life cycle, and increase revenue. Our second quarter of this year there will be a lower number of fine hand tour focused on the line, the most noteworthy is the "Maken Blade," "Twin Of Brothers" and "Xuanyuanjian fighting version." Citigroup analyst: My question is on tour overseas strategic game, in your opinion, the overseas game market and the domestic market, where the main difference? "Dragon 3D" has been in Taiwan, South Korea, the ground line, what are the different operational data in these areas, what you were localized measures for the local market? Gaming Operations Officer: "Dragon 3D" this product because of the subject matter, is more suitable for operations in overseas markets in the Asian region. We have completed the six Asian countries authorized agent, from the results, the game in South Korea, Southeast Asia and Hong Kong, Macao and Taiwan markets are more popular. We will be adjusted according to the needs of the game and localization agency partners around the same time, we also have R & D team for different countries,play Cooking Games and in doing for the local version.

TV will become the next Internet

I was talking with someone, he was able to develop and youth exchange applications. Over the past few years,play Elsa Games a number of applications developed around the new concept makes us feel upset, but they have into the role, and in a slightly different way to send information. He mentioned a lot of things to me, but suddenly began to worry about the description of their work, this concern is increasingly evident. He said the areas where their grotesque Internet, the concept of large publications seems completely hopeless. Over time, the only people to re-use these applications, and by its way to make money, that is, the presence of other people. To this end, the only application that publishers want their readers to use communications services, and loyalty will be converted to cash. In the near future, the Internet will promote publishing and communications industry in the field of advertising fierce competition, and that this situation will not end soon. This is a kind of hiding in the investment bubble foam application carefully observe. But if you have heard on the Internet capital position best and most savvy media companies are saying, see what they are doing, you may not think this is crazy, because they themselves actually in a "nested doll" type foam. It is worthy of any big media company to ask questions, but they are also looking for answers: Disney invested a lot of money to its networks Fusion. How Disney finds such investment can be successful in return? Flow target? TV viewers? Influence? I think with all of these factors are related. Overall One of our tasks is to act as the role of the laboratory, test and innovative services for the parent company. Disney's ABC Television Group and the nation's largest Spanish-language media company Univision together, hoping Fusion help figuring out how to achieve the kind of incredibly dynamic, diverse and connected through digitization and the audience, so we'll audience development, the technology transfer and knowledge we have learned to regard the parent company and other invested heavily. Fusion has recently launched a new website, it is clear that it does not consider itself an entertainment group's market research department. A manager in an interview with reporters, acknowledged Fusion and maintaining a special relationship between the capital of its operations. If anything can be reassuring to read something, it implies that the parent company is now more interested in the observation, rather than added to intervene, at least temporarily. It's like the start-up of the "sale or IPO" gives the answer. Think of Fusion is very interesting, because it exists beyond bizarre Content Area. It is not an established print publications in an attempt to 15 years for the fifth time with the same name to refashion. It is not venture company funded companies, a few years ago people began to pay attention to it. So in the end what it wants? Fusion wants to establish a new newsroom, in order to meet the new US appetite for the changing population structure, which is outside the "media bubble." When placed to achieve this goal, can only say that as soon as possible. Another Things to do Fusion yet to do is to decide what kind of company they belong to, because it's just part of the epitaxial well-known large enterprises. For Fusion, the talk of "mixed media" and "build our brand in the audience" is a waste of time. And publish content on a single site, hope its rapid spread different, Fusion owned television company background, they can be filled with content to the channel, although some channels are not actually under their complete control. At the same time, many of the most famous online media companies are focused in this area. Vox now publish content directly to social networks and applications. BuzzFeed There are more and more people specialize in a particular business, that in the absence of research BuzzFeed website as intermediary situation how it looks. Vice large part of the video by Google (microblogging) YouTube release, now has Snapchat application channels, and in cooperation with CNN, Comedy Central, ESPN, Cosmo and the Daily Mail and other media. Therefore, in order to completely figure out these problems, let us take a closer Analysis: For publishers who want rapid growth, with a better play Baby Hazel Games way than finding information on a computer or a smartphone, the site is that people no longer spend their time necessary equipment, what happens next? This is obviously a very obvious problem, but no one seems to spend too much time discussing them. I mean, Vox need an audience development director, told Publisher: Generally speaking, we only see a higher rate from a local share on the post, and its vice president, global marketing and partnerships will be explained: in about Facebook new video strategy to draw important lesson is that publishers generally see more and more video content views comments involvement. Theoretically, this can bring high revenue for publishers, provided that they are able to monetize this advantage. So you can imagine the Internet pages is being accelerated abandoned. I experienced a brief and painful "Can not beat it join them" soul searching period, those financial and operational experience freedom richest company will test these channels in the application. Managers in a tense meeting may need to explain: "More and more people to the other side, but we are still here, why can not we also go to the other side?" These companies suddenly enlarged radiation crowd, some of them find out how to make big money opportunity in this process, whether it is some kind of revenue sharing or by funding content. They began to see their website only an application and realized that fewer and fewer people are using. Finally, they may even symbolically close the site, they have been concerned about the end of work. Subsequently, they will be like so many others, adapt to the new domain rules. They will support the news, telling stories, spamming and mistakes. They will get a new standard, more superficial but more urgent than ever play Girl Games. They will adapt to the new standards, and to avoid talking about the relationship between success in the conventional manner, self-esteem and quality between. They will learn to cater to the structure of the industry trends and the introduction of new forms. But many people who work in publishing the site is no longer needed, people working on the site no longer need social media, and people working in social media is no longer used for these applications. Even for sites, some people will find themselves skeptical. Many publications are being eliminated, but there are also publications survived the transition in transition, as well as the publication of the application content into a giant news team, responsible for filling Facebook and Vine and Snapchat Music Channel, countless more people upload all kinds of video formats. This is a huge business opportunity. Media companies will realize the enormous potential of the internet audience. Platform will see the media companies to take action to earn income from the people it has been gathered in one place. At the same time, you spend time on these channels will increase, and everything is very good. Web site will soon be leaving the ravine filled with new things, most people do not really notice the change until it is close to the end, because they find themselves not too boring. After relegated to marginalized, the new website will form perhaps unexpected flourish again? Maybe this is just a unilateral concern, because there is no indication on the Internet site extinct. Of course, once serving as the backbone of the Internet young people, now began to flee. In these assumptions, the publications do is to adapt to survive. They will help write, report, shoot and art fused to the Internet, they will unite with commercial interests, but not with this model is the most similar to the television industry. This sounds very profitable. TV can earn a lot of money, there are many great TV. But television is also full of conflict, compromise labyrinthine nightmare garbage waste. In Facebook Prospects for example, it is a major news organization, not just a huge source of traffic, even if you love Facebook, this is frustrating. Therefore, this particular future has a more obvious theoretical problem now seems to be very popular. We are through the Internet, applications, social media and even television itself, the eyes realign TV: After crushing experienced chaos and glory, the Internet no longer seems to be the best, and the television industry is still the key to the interface of culture and commerce. When Snapchat debuted last month, Discover, new features of its application can display video from a series of articles and media companies. But BuzzFeed this partner said to have been conspicuously absent. The two companies reportedly have differences in terms of creation. In fact, Snapchat's editorial team will be involved in the content BuzzFeed, for this play Barbie Games caused friction. In the next five years, if I can only see through a lot of NFL messaging application supports ESPN, Vice simply have a better entertainment viewer data, I find the same content on Genius rather trivial Wikipedia, publication only solve more optimization of large temporary platform content agency network over the past 20 years, which will create something? When your body to gravity movement, these problems will make you feel uncomfortable.

Enterprise-class cloud computing has become the company's core business

At this time about five years ago, Google (microblogging) in addition to the management began to seriously consider search advertising companies may profit channels, and stole work at Oracle for 20 years Amit - Singh (Amit Singh ) as vice president in charge of their own business sector enterprises in the field of international sales and operations. During Oracle effect for 20 years, Amit - Singh was responsible for product development, channel management, marketing, strategy and acquisitions business. Prior to joining Google at the beginning, then many large companies are so-called cloud computing services are not familiar with, they believe that such services unreliable and vulnerable to hacking. Moreover, at that time Google has not yet established a comprehensive sales network cloud computing services to promote the development of this business. However, Singh joined to make all of this become possible, and by virtue of his own power to help Google establish a comprehensive cloud computing sales, marketing and systems support network. Currently, the global enterprise-class cloud computing market has reached $ 4 trillion, and the market research firm Synergy Research Group expects the market has some of the largest cloud computing companies to create a $ 16 billion revenue in the past 12 months as . Recently, the famous American Business Media, "Business Insider" will have the opportunity to interview Emmett - Singh, and he also took the opportunity to share with us their own cloud computing market for the future of some of the views: BI: How many current Google product or internal business units belonging to "Google for Work"? Singh: The search service, Google mail, Google Drive, Google Docs, Google Hangouts, Chromebook, Chromebox for Meetings (Google launched a video conferencing hardware products), Android for Work and Google Maps are actually part of "Google for Work" category a part of. BI: But companies can not actually buy one of these alone is it a service, such as buy Google mail or Google document alone? Singh: Yes, they can not be purchased separately, because we are also part of these services are regarded as the "Google for Work" of. BI: When Google in 2009 will be incurred under you, they are not already conceived a way to win the favor of business users? Singh: When I joined Google in 2009, at which point we still only at the stage of publicity cloud computing, users are our major educational institutions and SMEs, and was widely believed that only the service is "a bit mean." . However, the service and then they set off a huge impact in educational institutions, and they later became the source of the largest user of Google Apps. BI: So far what do you think your greatest accomplishment? Singh: I think that we in the past 18 months has made two major achievements. First, Google has spared no effort to enter the cloud computing market, the company has invested significant resources to this end, and within this business as the company will now focus lies; second, we last year with four major international accounting firm of a PricewaterhouseCoopers (PWC) reached a cooperation agreement in the service cloud platform. PricewaterhouseCoopers respect once said: "We chose Google just because they are the industry's top companies, but also because they provide security services." For me, so that they can trust us to provide security services in fact is the best advertising. BI: on Google Apps terms, do you think the service has now become a competitive product has enough yet? Singh: Google Apps has been able to surprise us. For example, Google Apps in Google Drive on April 24, 2012 officially launched, but in just 20 months attracted more than 240 million users, the subscriber growth even faster than Google another product. In addition, last year, we just launched a Drive for Work cloud storage service that every week more than 1800 new companies registered, this is quite an accomplishment. BI: In addition to the online publication of some Google Apps to use skills, you will be the ways in which users are encouraged to use this service? Singh: We have established a management is not just for IT staff, but for the average end-user community discussion. Moreover, we plan to further expand the scale of this online community this year, and will fight the people can learn from each other and improve the platform (Singh said here is actually Google advanced user community "Apps Learning Center"), this with Microsoft's MVP (Most Valuable Professional) platform very similar. BI: Do you intend to attract more users to the Microsoft platform to you, such as those "Fortune 500" corporate clients? Singh: I can only say that we are well prepared to meet them, and want to offer them a choice. Of course, not everyone is like Google mail, but they can still use the document, such as Google or Hangouts these services. BI: That is to say you're ready for business users a good set of solutions? Singh: Yes, it's on the part of large corporate users would be more attractive, because most of them with other companies under contract, but they wanted to try something new enterprise-class service. BI: Your goal is to get the number of enterprise users? 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Giochi di Frozen - Frozen Spelletjes - Gry Kraina lodu - Elsa Spiele - Jeux de Frozen - Elsa Oyunlari Singh: I think we are well prepared to meet all enterprise users, whether it is true in the end product or end support system. BI: Do you have a portion of Google Apps features with Microsoft Office suite integration plan? Singh: At present, almost all Office documents can be carried out in a number of lightweight operating in Google Drive. We had a few years ago acquired a company called Quickoffice, the company's successful integration of Microsoft Office products underlying code, so even if there is no Office of Google users also can install easily open an Office document, and some light the order of operations, and to share.

Net loss of $ 4.3 million in the fourth quarter dip

Non-GAAP attributable to tour the company's net profit of $ 13.7 million. 2014 third quarter non-GAAP net profit attributable to play Anna Games tour the company's $ 3.8 million in the fourth quarter of 2013 non-US GAAP attributable to tour the company's net profit of $ 43.3 million. · Attributed to swim non-US GAAP the company's diluted net income per ADS of US $ 0.25. 2014 third quarter non-GAAP attributable to diluted earnings per American Depositary tour company was $ 0.07 in the fourth quarter of 2013 non-US GAAP diluted earnings per share attributable to American Depositary Receipts tour company net income of $ 0.82. Co-CEO Carol tour, said: "Since I took office three months and German, Changyou's management morale and stability, unity and common efforts of our goal is to lay a solid foundation Tao Wang, the former CEO, Jean the company's business to the next level. The company performed well in the fourth quarter, "Dragon" tour ends steady income, a new mobile game "Dragon 3D" success, while mobile Internet business also increasingly rational healthy development. " Chen Dewen swim Co-CEO also said: "We are very pleased to see the company's flagship game business to develop good games." Dragon Chronicles "has entered" into the eighth year, the performance is still strong, has become the industry benchmark. " a stage of steady development, the company is expected to continue to contribute substantial revenue and profits in the coming years mobile games, "Dragon 3D" has achieved initial success, the first two months after the release of the total amount of water exceeds the $ 65 million of the game to adapt to market trends and to fill the mobile market gap in severe MMO gaming; company in severe game development of their own advantages, operational excellence and distribution capacity while promoting the success of the game, and "Dragon," the end of the tour is so strong IP "Dragon 3D" icing on the cake. we self-development and the way agents strive to accumulate a lot of boutique mobile gaming is expected to be launched in the next few quarters. " Chen Dewen went on to say: "The mobile Internet business, our goal is to optimize operations at this stage, according to the needs of the core market, the implementation of a more targeted strategy we will re-positioning of models from each core market user needs to provide more locally. service and capabilities. " Swim CFO Zhou Jing said: "The various initiatives mentioned above contributed to the fourth quarter, total revenue hit a record high, reaching $ 216 million, significantly exceeded the company's guidance forecasts substantial growth in revenue, plus. we strictly control costs, optimize business structure and streamline staff of measures to make a dip return to profitability. we expect these measures to control costs in the first quarter of 2015 will have a greater impact. " Fourth quarter 2014 operating results The company's fourth quarter 2014 operating performance as follows: · The company massively multiplayer online games and mobile games monthly average total number of active users to 13.9 million, growth of 14%, an increase of 81%. Over-year increase was mainly due to the company successfully released a variety of mobile games, including "Dragon 3D". · The company massively multiplayer online games and mobile games quarterly active paying subscribers totaled 2.7 million, growth of 69%,play Dora Games an increase of 59%. Over-year increase is mainly due to the company successfully released a variety of mobile games, including "Dragon 3D". Fourth quarter 2014 unaudited financial results income Revenue for the fourth quarter of 2014 was $ 215.9 million, a record high, growth of 19%, an increase of 11%, higher than the company's guidance forecasts of $ 17.9 million. In the fourth quarter of 2014 online games revenue of $ 184.4 million, a record high, growth of 23%, an increase of 7%, higher than the company's guidance forecasts of $ 19.4 million. Year on year and sequential growth was mainly due to the new mobile game "Dragon 3D" in the fourth quarter of 2014, the successful launch. In the fourth quarter of 2014, online advertising reached US $ 18.3 million, a record high, growth of 9%, an increase of 8%. Over-year increase was primarily due to the sales team to enhance the capacity. The fourth quarter of 2014 the company IVAS revenues of $ 6.6 million, a decline of 11%, an increase of 353% .. Decline was mainly due to our operating platform web game - play platform revenue decline. An increase was mainly due to the contribution of new product revenue platform acquired companies, including income from voice and RC Dolphin browser. The fourth quarter of 2014, other income from the shadow of former advertising business generated $ 6.7 million, a growth of 4%, an increase of 46%. An increase was mainly due to the fourth quarter of 2014 before lifting to improve your image quality resources rate, as well as the ability of the sales team. Gross profit Gross profit for the fourth quarter 2014 GAAP and non-GAAP were 147.2 million and $ 147.1 million, growth of 13%, down 8%. Gross margin for the fourth quarter 2014 GAAP and non-GAAP are 68% in the third quarter of 2014 were 72% in the fourth quarter of 2013 were 82%. Gross profit in the fourth quarter of 2014, online game business GAAP and non-GAAP were $ 132.7 million and $ 132.6 million, growth of 14%, down 9%. The fourth quarter of 2014, online game services gross margin and gross margin non-US GAAP are 72%, the third quarter of 2014 were 77% in the fourth quarter of 2013 were 85%. Over-year gross margin decrease was primarily due to changes in the composition of income, the company released a variety of new mobile games and PC end game, bringing additional income into cost. Gross profit in the fourth quarter of 2014, online advertising GAAP and non-GAAP are $ 15 million, growth of 20%, an increase of 25%. Fourth quarter 2014 online advertising gross margin and gross margin non-US GAAP are 82%, the third quarter of 2014 were 74% in the fourth quarter of 2013 were 71%. Gross margin sequential growth was mainly due to the sales team the ability to upgrade. The fourth quarter of 2014 Internet value-added services business hair loss GAAP and non-GAAP are $ 0.8 million in 2014 third quarter were $ 0.7 million in gross profit, gross profit in the fourth quarter 2013 were $ 1.1 million. GAAP gross margin and non-GAAP fourth quarter of 2014, other services were $ 0.4 million in 2014 third quarter were $ 1.0 million in the fourth quarter of 2013 were $ 500,000. Operating expenses Operating expenses in the fourth quarter of 2014 amounted to $ 149.4 million, growth of 12%, an increase of 14%. Operating expenses included a goodwill impairment loss of $ 52.3 Wan acquisition-related intangible assets and impairment losses. Impairment is mainly with the company acquired in 2013. RC voice service-related. These do not include the impairment, the company's operating expenses of $ 9,710 million, a decline of 27 percent, down 26%. 2014. Product development expenses for the fourth quarter was $ 22.5 million, a decline of 58 percent, down 48%. Over-year decrease was primarily due to the reversal of the company a sum of $ 28 million related to employee incentive plans withholding amount. We rushed back mainly because the market environment changes lead to some not achieve performance goals, the company will be based on the current market situation re-enact a more effective incentive programs to motivate employees. Sales and marketing expenses in the fourth quarter of 2014 was $ 38.4 million, a decline of 27 percent, down 44%. Over-year decrease was primarily due to the fourth quarter of 2014, the company reduced marketing expenses of mobile applications. Administrative expenses in the fourth quarter 2014 was $ 36.2 million, a growth of 33%, an increase of 100%. Sequential growth was mainly due to one-time severance payments occurred in the fourth quarter of 2014, an increase was mainly due to one-time severance payments annual occurrence in the fourth quarter 2014, and increased the number of employees. Impairment of goodwill and acquisition-related intangible asset impairment loss in the fourth quarter of 2014 was $ 52.3 million. Impairment is mainly with the company acquired in 2013. RC voice services related to the management wants to use Voice RC system technology and swim existing gaming business, and to improve the player's play experience. After a play Cooking Games year of verification, we found Raidcall voice technology is not suitable for embedded system swim game, so impairment to reflect the fair value of the RC business. Operating loss and profit Operating loss for the fourth quarter of 2014 was $ 2.2 million operating loss in the third quarter of 2014 was $ 2.6 million, operating profit in the fourth quarter of 2013 was $ 29.1 million. Operating profit non-US GAAP in the fourth quarter of 2014 was $ 0.7 million, third quarter 2014 operating loss of non-US GAAP was $ 2.0 million, fourth quarter 2013 operating profit of non-US GAAP to $ 29.5 million. Income tax expense December 2013, the main operator of the subject company within the territory of China was "2013--2014 National Key Software Enterprise" qualification in 2013 and 2014, can enjoy preferential corporate income tax rate of 10%. Fourth quarter 2014 income tax expense was $ 7.1 million, the third quarter of 2014, income tax expense was $ 0.3 million, fourth quarter 2013 income tax benefit of $ 7.7 million. Net loss Fourth quarter 2014 net loss of $ 4.3 million in 2014 third quarter net profit of $ 1.5 million, fourth quarter 2013 net income of $ 43 million. Fourth quarter 2014 net loss of non-US GAAP was $ 1.4 million, non-US GAAP net profit of the third quarter of 2014 was $ 2.0 million, non-US GAAP net income for the fourth quarter of 2013 $ 43.3 million. Net loss attributable to minority interests are classified as non-controlling shareholders GAAP net loss and non-GAAP fourth quarter of 2014 attributable to shareholders are classified as non-controlling minority interest were $ 15.2 million and $ 15.1 million in 2014 third quarter were 1.9 million dollars, fourth quarter 2013 were US $ 0. This is part of the non-controlling shareholders' equity RC voice and MoboTap companies swim. Net profit attributable to tour the company's Fourth quarter 2014 attributable to tour the company's net profit of $ 10.9 million in 2014 third quarter net profit attributable to tour the company's $ 3.3 million in the fourth quarter of 2013 attributable to tour the company's net profit of $ 43 million . Fourth quarter 2014 attributable to tour the company diluted earnings per ADS was $ 0.21, in 2014 third quarter attributable to diluted earnings per ADS tour company was $ 0.06, fourth in 2013 quarter attributable to tour the company diluted net income per ADS was $ 0.81. Fourth quarter 2014 non-US GAAP attributable to tour the company's net profit of $ 13.7 million. 2014 third quarter non-GAAP net profit attributable to tour the company's $ 3.8 million in the fourth quarter of 2013 non-US GAAP attributable to tour the company's net profit of $ 43.3 million. Fourth quarter 2014 non-US GAAP attributable to diluted earnings per American Depositary tour company was $ 0.25 in 2014 third quarter non-GAAP diluted earnings per share attributable to American Depositary Receipts tour company net income of $ 0.07 in the fourth quarter of 2013 non-US GAAP attributable to tour the company diluted net income per ADS was $ 0.82. Liquidity As of December 31, 2014, surf the net cash and cash equivalents and short-term investments totaled $ 412.4 million, September 30, 2014 was $ 386.8 million. Operating cash flow in the fourth quarter of 2014, a net inflow of $ 17 million. As of December 31, 2014, short-term and long-term holding swim bank loans $ 370 million, as well as current and non-restricted flow deposits $ 417.4 million, as of September 30, 2014, short-term and long-term bank holding tour loans $ 370 million, as well as current and non-restricted flow deposits $ 434,400,000. Appointment of Directors and CFO Appointment of Directors Appoints Carol served as director of the company, as supplemented Wang Tao, former CEO departure Board vacant seats. More than in March 2004 play Baby Hazel Games joined Sohu company, currently serves as co-CEO and swim Sohu President and Chief Financial Officer Carol, has extensive experience in the United States listed companies. Appointment of Chief Financial Officer The company also appointed as the company's chief financial officer Zhou Jing. Zhou Jing in August 2003 joined Sohu company, has many years of experience in capital projects, participated in all the Sohu Group's capital-related projects, including the acquisition, spin-off tour, Sogou, Tencent introduced strategic investment projects. Zhou holds a Bachelor of Law, LLM from the University of Sydney, and Tsinghua University and INSEAD (INSEAD) EMBA degree from Renmin University of China. Progress swim stock repurchase program July 27, 2013, the Board of Directors approved a scale swim up $ 100 million share repurchase program. Under the plan, the company can swim in two years July 27, 2013 to July 26, 2015, the repo swim circulation ADSs. As of December 31, 2014, it has repurchased 754,800 shares dip dip ADSs in accordance with the share repurchase program, a total amount of US $ 20.8 million. 2014 fourth quarter, the company repurchased 164,300 shares dip ADSs.