$SOS Ltd (SOS.US)$ Qingdao, China, December 22nd, 2020 - SOS...
$SOS Ltd (SOS.US)$ Qingdao, China, December 22nd, 2020 - SOS Limited (NYSE: SOS), a high-tech company that provides extensive data mining and marketing analysis services to Chinese businesses and individual members, today announced its preliminary estimates for certain financial performance for the fiscal year 2020 ending December 31, 2020, as well as its business prospects for the fiscal year 2021. The company expects a significant increase in revenue for the full year of 2020. Based on the available information, the estimated full-year revenue for 2020 is approximately $49.5 million, a growth of 451% compared to 2019. The strong growth in revenue is mainly attributed to the effective execution of the company's business transformation strategy, which allowed us to cease traditional peer-to-peer lending business and focus on providing marketing-related data to clients, including insurance companies, financial institutions, medical institutions, healthcare providers, and other service providers in the emergency rescue service industry. The gross margin is expected to be around 9%, higher than last year's 5%. Net income under US Generally Accepted Accounting Principles is estimated to be approximately $3.1 million. Business outlook for 2021 The company expects a approximately 286% increase in net revenue for the full year of 2021.
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