November 24, 2023

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SOS Ltd. Announces Approximated Fiscal Yr 2020 Financial Effects

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QINGDAO, China, Dec. 21, 2020 /PRNewswire/ — SOS Limited (NYSE: SOS) (the “Company” or “SOS”), a large-tech firm giving a extensive range of details mining and marketing and advertising assessment providers to its corporate and personal customers in China declared these days its preliminary estimates of selected financial benefits for its full fiscal 12 months of 2020 ending December 31, 2020, and enterprise outlook for the fiscal calendar year of 2021.

Superb Profits Advancement Expected For Comprehensive Yr 2020

Primarily based on information out there as of currently, whole 12 months 2020 earnings is anticipated to be somewhere around $49.5 million, representing expansion of 451% when compared to that of 2019. The revenue’s robust advancement is principally due to the efficient execution of the Firm’s small business transformation tactic, which enabled us to cease our legacy peer-to-peer lending business and aim on delivering internet marketing-similar details for customers these types of as insurance firms, economic establishments, healthcare establishments, healthcare companies and other company suppliers in the emergency rescue products and services field. The gross margin is anticipated to be somewhere around 9%, up from 5% last 12 months. US GAAP internet income gain is expected to be approximately $3.1 million.

Company Outlook 2021

1.  The Business expects net revenue advancement of approximately 286% for whole-year 2021. &#13

2.  In order to grow to be a national company in China, the Company will proceed to pursue an acquisition of a nationwide insurance policy brokerage company.

3.  The Company is fully commited to enhance its rescue infrastructure community all-around substantial-way exits to give its members improved providers.

4.  To even further grow the person foundation considerably and boost our healthcare service supplying, management is wanting to employ the strategic cooperation partnership with Qingdao West Coastline Healthcare Growth Group Co., Ltd , which is expected to jointly endorse the application and growth of innovative healthcare options.

SOS Chairman Yandai Wang commented, “In a year of market uncertainty and ongoing disruptions from the pandemic, I am exceptionally happy to share our document-breaking outcomes for the comprehensive year of 2020. Irrespective of the problems, SOS delivers a reliable 12 months of fiscal functionality, with our main facts mining and investigation small business drastically outperforming anticipations in the next 50 % of 2020. These final results replicate management’s constantly powerful execution of our small business system and eyesight.”

He continued, “With China’s coverage industry increasing at a CAGR of 11.4% from 2010 to 2020, as documented by the Countrywide Bureau of Data of China, put together with our strategic cooperation with Qingdao West Coast Healthcare Enhancement Group, we stay energized about sector prospect and substantial growth opportunity. Looking in advance, we expect ongoing potent momentum and earnings growth.” &#13

About SOS Minimal

SOS Minimal, by way of its operating subsidiary, SOS Details Engineering Co., Ltd. (“SOS”), offers vast selection of info mining and assessment products and services to its corporate and specific members, these types of as insurance providers, monetary institutions, health care establishments, healthcare companies and other service suppliers in the emergency rescue market by producing a SOS cloud crisis rescue assistance software program as a assistance (SaaS) system. Its mission is to make it a lot easier, safer and additional economical for its purchasers to acquire and system the facts of their target buyers. SOS transforms electronic technological know-how into info-driven operations by the exploration and progress of huge information, cloud computing, Net of Points, blockchain and artificial intelligence.

SOS has obtained a national significant-tech enterprise certification and the title of “big facts star business,” awarded by Gui’an New District Authorities. Being on the forefront of electronic know-how innovation, the Organization has registered 31 program copyrights and 2 patents. For a lot more details, you should take a look at:

Ahead-Searching Statements

Ahead-Seeking Statements&#13

Specified statements created herein are “forward-hunting statements” in just the which means of the “secure harbor” provisions of the Personal Securities Litigation Reform Act of 1995. Ahead-wanting statements could be determined by the use of words such as “foresee,” “imagine,” “assume,” “estimate,” “plan,” “outlook,” and “venture” and other related expressions that predict or point out potential gatherings or developments or that are not statements of historic matters. This sort of forward-searching statements include things like timing of the proposed transaction the company plans, aims, expectations and intentions of the parties SOS’s approximated and future outcomes of operations, company techniques, aggressive position, field natural environment and probable advancement opportunities market place acceptance of our products the supreme effects of the current Coronavirus pandemic, or any other overall health epidemic, on our company, our analysis applications, healthcare techniques or the world-wide economy as a complete our mental property our reliance on third celebration organizations our expected fiscal and running results, including expected resources of revenues our assumptions pertaining to the sizing of the obtainable marketplace, benefits of our product giving, solution pricing, timing of product launches management’s expectation with respect to upcoming acquisitions statements concerning our targets, intentions, plans and expectations, including the introduction of new goods and markets and our cash requirements and funding designs and and so forth. These forward-wanting statements reflect the current analysis of current facts and are issue to several threats and uncertainties. As a end result, warning must be exercised in relying on ahead-wanting statements. SOS could not notice its anticipations, and its beliefs may possibly not verify correct. Thanks to acknowledged and unknown threats, our precise results could vary materially from our expectations or projections. All ahead-searching statements attributable to the Organization or folks performing on its behalf are expressly qualified in their entirety by these elements. Other than as necessary beneath the securities legal guidelines, the Firm does not believe a responsibility to update these forward-looking statements.

Extra facts about these and other things that may perhaps influence our expectations and projections can be uncovered in our periodic filings with the SEC, like our Once-a-year Report on Kind 20-F for the fiscal yr ended December 31, 2019. SOS’s SEC filings are available publicly on the SEC’s website at SOS disclaims any obligation to update the forward-wanting statements, regardless of whether as a outcome of new facts, upcoming gatherings or normally.

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