$SOS Ltd (SOS.US)$ $SOS Ltd (SOS.US) $ Revenue and Profit Ex...
$SOS Ltd(SOS.US$ $SOS Ltd (SOS.US) $ Revenue and Profit Expected to Record in Qingdao, China, December 22, 2020 — SOS Limited (NYSE: SOS) (“Company” or “SOS” for short). A high-tech company that provides extensive data mining and marketing analysis services to Chinese enterprises and individual members, today announced its preliminary estimates of certain financial results for FY2020 ending December 31, 2020, as well as business prospects for FY2021. Revenue for the full year of 2020 will grow substantially. According to available information, revenue for the full year of 2020 is expected to be approximately $49.5 million, an increase of 451% compared to 2019. The strong increase in revenue was mainly due to the effective implementation of the company's business transformation strategy, which enabled us to stop the traditional peer-to-peer lending business and focus on providing marketing-related data to customers such as insurers, financial institutions, healthcare providers, and other service providers in the emergency services industry. The gross margin is expected to be around 9%, up from 5% last year. U.S. GAAP net profit earnings are expected to be approximately $3.1 million. Business Outlook 2021 expects net revenue growth of approximately 286% for the full year of 2021.
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