SOS Ltd. Announces Estimated Fiscal Year 2020 Money Final results
5 min readQINGDAO, China, Dec. 21, 2020 /PRNewswire/ — SOS Limited (NYSE: SOS) (the “Company” or “SOS”), a large-tech enterprise offering a extensive variety of info mining and advertising examination services to its company and person customers in China introduced now its preliminary estimates of selected economical results for its full fiscal yr of 2020 ending December 31, 2020, and small business outlook for the fiscal year of 2021.
Superb Profits Advancement Anticipated For Whole Calendar year 2020
Based mostly on information obtainable as of now, full year 2020 revenue is expected to be approximately $49.5 million, representing growth of 451% in comparison to that of 2019. The revenue’s sturdy development is primarily due to the efficient execution of the Company’s small business transformation approach, which enabled us to cease our legacy peer-to-peer lending business and target on offering internet marketing-associated information for shoppers these types of as insurance coverage businesses, economic establishments, medical institutions, health care providers and other services vendors in the emergency rescue companies business. The gross margin is envisioned to be approximately 9%, up from 5% last calendar year. US GAAP internet revenue attain is envisioned to be somewhere around $3.1 million.
Company Outlook 2021
1. The Business expects web earnings advancement of somewhere around 286% for complete-calendar year 2021.
2. In buy to develop into a countrywide company in China, the Business will keep on to go after an acquisition of a nationwide insurance policy brokerage agency.
3. The Business is fully commited to boost its rescue infrastructure network all-around higher-way exits to present its associates superior services.
4. To even more develop the user base significantly and increase our health care service providing, administration is hunting to employ the strategic cooperation partnership with Qingdao West Coastline Healthcare Advancement Team Co., Ltd , which is predicted to jointly encourage the software and growth of revolutionary healthcare options.
SOS Chairman Yandai Wang commented, “In a 12 months of market place uncertainty and ongoing disruptions from the pandemic, I am amazingly happy to share our report-breaking benefits for the total calendar year of 2020. In spite of the worries, SOS delivers a solid 12 months of monetary functionality, with our main information mining and analysis organization significantly outperforming anticipations in the second half of 2020. These benefits replicate management’s continuously potent execution of our enterprise approach and eyesight.”
He continued, “With China’s coverage market place increasing at a CAGR of 11.4% from 2010 to 2020, as described by the National Bureau of Stats of China, put together with our strategic cooperation with Qingdao West Coast Healthcare Enhancement Group, we continue being excited about market place prospect and significant expansion possible. Wanting in advance, we be expecting ongoing sturdy momentum and profits development.”
About SOS Minimal
SOS Limited, by its operating subsidiary, SOS Info Technology Co., Ltd. (“SOS”), gives extensive selection of details mining and investigation products and services to its company and personal associates, these as insurance policies companies, fiscal institutions, professional medical institutions, healthcare providers and other service suppliers in the crisis rescue field by producing a SOS cloud emergency rescue services software package as a support (SaaS) system. Its mission is to make it simpler, safer and a lot more successful for its clients to get and course of action the data of their target consumers. SOS transforms electronic technologies into info-driven operations via the investigation and growth of significant facts, cloud computing, Net of Matters, blockchain and synthetic intelligence.
SOS has obtained a nationwide superior-tech company certification and the title of “big knowledge star enterprise,” awarded by Gui’an New District Federal government. Staying on the forefront of electronic engineering innovation, the Firm has registered 31 software program copyrights and 2 patents. For a lot more details, remember to check out: http://www.sosyun.com/
Forward-Searching Statements
Ahead-Seeking Statements
Sure statements manufactured herein are “forward-hunting statements” in just the that means of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Ahead-hunting statements could be discovered by the use of text these as “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” and “project” and other related expressions that predict or indicate long term occasions or trends or that are not statements of historic issues. These types of forward-wanting statements incorporate timing of the proposed transaction the small business programs, targets, expectations and intentions of the parties SOS’s estimated and potential outcomes of operations, business approaches, aggressive place, market ecosystem and possible growth options market acceptance of our merchandise the ultimate effect of the present Coronavirus pandemic, or any other wellness epidemic, on our small business, our investigation packages, health care programs or the world wide financial system as a complete our intellectual house our reliance on 3rd party companies our anticipated economical and operating success, which includes expected sources of revenues our assumptions concerning the sizing of the accessible sector, positive aspects of our item offering, products pricing, timing of product or service launches management’s expectation with regard to upcoming acquisitions statements about our aims, intentions, plans and expectations, including the introduction of new products and solutions and markets and our hard cash needs and funding ideas and and many others. These forward-wanting statements reflect the latest evaluation of present details and are topic to a variety of hazards and uncertainties. As a final result, warning ought to be exercised in relying on forward-hunting statements. SOS might not recognize its anticipations, and its beliefs may possibly not show proper. Owing to recognized and unfamiliar hazards, our actual results may possibly vary materially from our expectations or projections. All ahead-seeking statements attributable to the Firm or folks performing on its behalf are expressly competent in their entirety by these aspects. Other than as expected under the securities legislation, the Business does not think a duty to update these forward-hunting statements.
Supplemental facts about these and other components that may possibly effects our expectations and projections can be found in our periodic filings with the SEC, which include our Annual Report on Sort 20-F for the fiscal calendar year ended December 31, 2019. SOS’s SEC filings are out there publicly on the SEC’s web site at www.sec.gov. SOS disclaims any obligation to update the ahead-searching statements, no matter whether as a final result of new details, potential activities or normally.
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