Corvias and Wayne State University Announce Recipients of Annual Scholarships
DETROIT--(BUSINESS WIRE)-- Corvias and Wayne State University are proud to recognize Nevaeh Rogan and Jaafar Aljeraiw as recipients of its annual Wayne State Corvias Endowed Scholarship Award. Both students will receive $12,500 to apply toward their undergraduate education. Seven additional students were also awarded scholarships, which totaled $35,000. All recipients will receive further access to mentoring, internships, and networking.
'We appreciate our partnership with Corvias and their continued investment in our students' success...'
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The scholarship was established in 2018 to support educational attainment while lessening the financial burden. The program is part of a ten-year, $1 million commitment from Corvias, a leader in developing and maintaining residential communities for its partners in the higher education and military sectors. During the partnership, an estimated 80 students will receive a scholarship.
'At Corvias, we are proud to support and invest in the communities where we live, work, and serve,' said Chris Wilson, CEO of Corvias. 'Our demonstrated success, long-term partnership with Wayne State University and our unique Solutions Through Partnerships approach, which provides long-term sustainable value, exemplifies our commitment to our partners and the student experience.'
Recipients may apply the scholarship award to tuition, fees, and room and board for on-campus housing. To be eligible, they must enroll full-time, reside in on-campus housing, demonstrate financial need, and achieve and maintain a minimum 3.0 GPA.
'We appreciate our partnership with Corvias and their continued investment in our students' success,' said Laurie M. Lauzon Clabo, Ph.D., provost and executive vice president for academic affairs at Wayne State University. 'Students who choose to live on Wayne State's vibrant, urban campus take full advantage of all the opportunities and resources available to them at the university and throughout Detroit. We are so excited for Nevaeh, Jaafar and all Corvias scholarship recipients who call our campus home.'
A growing number of students call Wayne State home. Nearly 2,800 undergraduates live on campus, including about one-third of first-year students.
Scholarship recipient Nevaeh Rogan, a junior from Warren, Detroit majoring in criminal justice and minoring in law with the goal of becoming an attorney, was eager to live on campus so that she could fully engage with opportunities at the university and in the city. As a lawyer, Nevaeh plans to help those in need and create change in people's lives.
Nevaeh shared that receiving this scholarship enables her to focus on her studies and it has already boosted her confidence in both her academic performance and first internship at the Third Judicial Circuit Court. This is the second year she has been awarded the scholarship.
'This scholarship not only relieves me of financial stress, but it also motivates me to fully embrace the opportunities at this university and pursue my goals with more determination,' Rogan said.
Understanding how housing rental rates impact student decisions and their experience, at its April meeting, Wayne State University did not raise residence hall or apartment rates to ensure students have access to housing at competitive rates in Midtown.
In collaboration with its partners, Corvias strives to enhance the quality of life for its residents, allowing them to grow and thrive. As a full-service housing provider who reinvests in its communities, Corvias has one of the largest on-campus higher education portfolios in the U.S., serving nearly 20,000 students and providing services for 15 colleges and universities. Learn more about Corvias' work in higher education here.
About Wayne State
Wayne State University is a premier urban research institution offering approximately 375 academic programs through 13 schools and colleges to more than 24,000 students.
About Corvias
Corvias partners with the Department of Defense and higher education institutions to solve infrastructure and energy resiliency challenges and to create long-term, sustainable value through our unique Solutions Through Partnerships® approach. Corvias partnerships enhance the well-being in our communities, including at the largest renewable energy project in Kansas and at resiliency projects nationwide. Our more than 72,000 residents consistently highly rank the courtesy and professionalism of our maintenance and leasing personnel. To learn more, please visit: www.corvias.com.
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Conference Call The Company's management team will hold a conference call at 9:00 p.m. Eastern Time on Wednesday, May 19, 2025 to discuss financial results and answer questions from investors and analysts. Listeners may access the call by dialing: US (Toll Free): +1-888-346-8982 International: +1-412-902-4272 Mainland China (Toll Free): 400-120-1203 Hong Kong (Toll Free): 800-905-945 Hong Kong: +852-3018-4992 Participants should dial in at least 10 minutes before the scheduled start time and ask to be connected to the call for "Zepp Health Corporation". Additionally, a live and archived webcast of the conference call will be available at A telephone replay will be available one hour after the call until May 26, 2025 by dialing: US Toll Free: +1-877-344-7529 International: +1-412-317-0088 Replay Passcode: 5798726 About Zepp Health Corporation Zepp Health Corporation (NYSE: ZEPP) is a global smart wearable and health technology leader, empowering users to live their healthiest lives by optimizing their health, fitness, and wellness journeys through its leading consumer brands, Amazfit, Zepp Clarity and Zepp Aura. Powered by its proprietary Zepp Digital Management Platform, which includes the Zepp OS, AI chips, biometric sensors and data algorithms, Zepp delivers cloud-based 24/7 actionable insights and guidance to help users attain their wellness goals. To date, Zepp has shipped over 200 million units, and its products are available in more than 90 countries and regions. 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Adjusted EBIT and adjusted net income/(loss) attributable to ordinary shareholders, presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to our data. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure. [4] Adjusted EBIT is a non-GAAP financial measure, which is defined as net loss, excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements, (iii) gain/(loss) from fair value change of long-term investment, (iv) impairment loss from long-term investments, (v) income/(loss) from equity method investments, (vi) income tax (benefit)/ expense, and (vii) interest income and interest expense. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the recognition of the Company's Amazfit-branded products; the Company's growth strategies; trends and competition in global wearable technology market; changes in the Company's revenues and certain cost or expense accounting policies; governmental policies relating to the Company's industry and general economic conditions around the globe. Further information regarding these and other risks is included in the Company's filings with the United States Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law. 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otherwise noted) As of December 31,As of March 31, 20242025 US$US$Equity Ordinary shares2626 Additional paid-in capital278,116278,775 Treasury stock(14,993)(15,450) Accumulated retained earnings28,6188,877 Accumulated other comprehensive loss(40,178)(40,193) Total Zepp Health Corporation shareholders' equity251,589232,035 Noncontrolling interest1,139- Total equity252,728232,035 Total liabilities and equity528,593518,753 Zepp Health Corporation UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Amounts in thousands of U.S. dollars ("US$") except for number of shares and per share data, or otherwise noted)For the Three Months Ended March 31, 20242025 US$US$Revenues39,95738,537 Cost of revenues(25,257)(24,176) Gross profit14,70014,361 Operating expenses: Selling and marketing(10,769)(13,841) General and administrative(6,420)(6,518) Research and development(13,421)(12,377) Total operating expenses(30,610)(32,736) Operating loss(15,910)(18,375) Other income and expenses: Interest income1,012581 Interest expense (1,443)(1,358) Other income/(expense), net684 Gain/(loss) from fair value change of long-term investments2,103(125) Loss before income tax and loss from equity method investments (14,170)(19,273) Income tax expenses(72)(110) Loss before loss from equity method investments(14,242)(19,383) Net loss from equity method investments(559)(358) Net loss(14,801)(19,741) Less: Net loss attributable to noncontrolling interest(32)- Net loss attributable to Zepp Health Corporation(14,769)(19,741)Basic and diluted net loss per share attributable to Zepp Health Corporation (0.06)(0.08)Basic and diluted net loss per ADS (16 ordinary shares equal to 1 ADS) (0.91)(1.23)Weighted average number of shares used in computing basic and diluted net loss per share259,525,679256,410,171 Zepp Health Corporation Reconciliation of GAAP and Non-GAAP Results (Amounts in thousands of U.S. dollars ("US$") except for number of shares and per share data, or otherwise noted)For the Three Months Ended March 31, 20242025 US$US$Total operating expenses(30,610)(32,736) Share-based compensation expenses2,283589 Amortization of intangible assets resulting from acquisitions and business cooperation agreements567635 Total adjusted operating expenses(27,760)(31,512)Operating loss(15,910)(18,375) Share-based compensation expenses2,283589 Amortization of intangible assets resulting from acquisitions and business cooperation agreements567635 Adjusted operating loss(13,060)(17,151)Net loss(14,801)(19,741) Share-based compensation expenses2,283589 Amortization of intangible assets resulting from acquisitions and business cooperation agreements567635 (Gain)/loss from fair value change of long-term investments(2,103)125 Loss from equity method investments559358 Income tax expenses72110 Interest income(1,012)(581) Interest expense 1,4431,358 Adjusted EBIT(12,992)(17,147)Net loss attributable to Zepp Health Corporation(14,769)(19,741) Share-based compensation expenses2,283589 Amortization of intangible assets resulting from acquisitions and business cooperation agreements567635 (Gain)/loss from fair value change of long-term investments(2,103)125 Loss from equity method investments559358 Tax effects on non-GAAP adjustments(91)(103) Adjusted net loss attributable to Zepp Health Corporation(13,554)(18,137)Adjusted basic and diluted net loss per share attributable to Zepp Health Corporation[5] (0.05) (0.07)Adjusted basic and diluted net loss per ADS (16 ordinary shares equal to 1 ADS) (0.84) (1.13)Weighted average number of shares used in computing adjusted basic and diluted net loss per share 259,525,679 256,410,171Share-based compensation expenses included are follows: Selling and marketing25042 General and administrative1,060286 Research and development973261 Total2,283589[5] Adjusted diluted net income/(loss) is the abbreviation of adjusted net (loss)/income attributable to Zepp Health Corporation, which is a non-GAAP measure and excludes (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements, (iii) gain/(loss) from fair value change of long-term investment, (iv) impairment loss from long-term investments, and (v) income/(loss) from equity method investments, and (vi) tax effects of the above non-GAAP adjustments, and is used as the numerator in computation of adjusted basic and diluted net loss per ADS attributable to Zepp Health Corporation. View original content: SOURCE Zepp Health Corp.
