Popular trading platform Robinhood is announcing the launch of a new debit card that allows customers to earn crypto rewards as they use it. According to a recent company blog post, the Cash Card will give debit card users benefits that are traditionally reserved for credit card holders. “The Cash Card builds on our mission […]
ADA price extends the gains for the fourth straight day. The price tested monthly high around $1.17. Investors are ready to lock in further gains as the price move beyond the 50-day EMA since September. ADA price prints noticeable gains on Thursday. More gains above the 200-EMA towards $1.50. The momentum indicators support the bullish
SINGAPORE, Mar 24, 2022 - (ACN Newswire) - Society Pass Incorporated (SoPa) (Nasdaq: "SOPA"), a leading Southeast Asia loyalty and ecommerce ecosystem, reported its financial results for its fiscal year ending 31 December 2021.
The Company's total revenues increased over eight hundred and ninety percent year on year mainly as a result of the relaunch of its Leflair lifestyle e-commerce business in September 2021. "2021 has been a strong year for SoPa in spite of the impact from the Delta and Omicron variants. Despite only operating in only the last four months of 2021, Leflair recognized monthly double digit revenue growth in the fourth quarter. With the region rapidly pivoting to recovery, we expected to see robust eCommerce growth in both transaction volume and basket size. SoPa's healthy pipeline and strategy for acquiring rapidly growing eCommerce platforms will allow us to capture that exciting growth. We expect 2022 to be a stellar year for SoPa as we continue to build out our next generation loyalty platform and acquire more leading e-commerce companies in SEA", said Dennis Nguyen, Founder, Chairman and CEO of Society Pass.
Key Highlights: - Total revenue grew by 891% primarily attributed to the acquisition of the Leflair lifestyle platform - The Company is well capitalized to rollout its business plan with cash on hand growing over 4,400% to $23.2 million, primarily due to the completion of its Nasdaq listing IPO in November 2021 (SoPa also completed a $11.5 million (gross proceeds) follow-on public offering in February of 2022) - Since its inception, Society Pass has acquired 4 eCommerce businesses in Southeast Asia namely; #HOTTAB, Leflair, and Handycart in Vietnam, as well as Pushkart in Philippines
In 2022, SoPa expects further growth as the SEA countries shift to focus on economic recovery. The Company also expects to launch of Society Points in Q2 2022, which it expects to increase profit margins and drive customer retention for merchants. In addition, SoPa plans to make additional acquisitions in 2022 that will generate additional revenue synergies and create cost efficiencies as part of the expanding SoPa ecosystem.
About Society Pass
Society Pass is a loyalty and data marketing ecosystem that operates multiple e-commerce and lifestyle platforms across its key markets. Its business model focuses on collecting user data through the expected circulation of its universal loyalty points. It seamlessly connects consumers and merchants across multiple product and service categories fostering organic loyalty. Since its inception, SoPa has amassed over 1.6 million registered consumers and over 5,500 registered merchants/brands on its platform. It has invested 2+ years building proprietary IT architecture with cutting edge components to effectively scale and support its Platform's consumers, merchants, and acquisitions.
Society Pass provides merchants with #HOTTAB Biz - a convenient order management app for business partners on SoPa.asia, and #HOTTAB POS - a specialized POS technology solution, a comprehensive system for payment, loyal customer management, user profile analytics, and convenient financial support packages for small and medium-sized enterprises.
In addition, SoPa operates Leflair.com, Vietnam's leading lifestyle e-commerce platform, Pushkart.ph, a popular grocery delivery company in Philippines, and Handycart.vn, a leading online restaurant delivery service based in Hanoi, Vietnam. For more information, please check out: http://thesocietypass.com/
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comSociety Pass Incorporated (SoPa) (Nasdaq: "SOPA"), a leading Southeast Asia loyalty and ecommerce ecosystem, reported its financial results for its fiscal year ending 31 December 2021.
Press Release: Releasing the iExec Portal, iExec implements an interface where individuals can participate in community-related decisions while being recognized and rewarded for their contributions. March 23rd, Lyon, France – iExec, a decentralized marketplace for computing assets, today announces the launch of the iExec Portal, a new user-friendly interface intended for its community. With […]
HONG KONG, Mar 23, 2022 - (ACN Newswire) - Kingsoft Corporation Limited ("Kingsoft" or the "Company"; HKEx stock code: 03888), a leading Chinese software and Internet service company, has announced its 2021 annual results and fourth-quarter results for the period ended 31 December 2021.
For the year 2021, the revenue of Kingsoft increased 14% year-on-year to RMB6,371.4 million. Revenue from the office software and services and online games and others represented 51% and 49%, respectively, of the Company's total revenue for the year of 2021. Gross profit for the year 2021 increased 11% year-on-year to RMB 5,214.3 million, while operating profit amounted to RMB1,360.6 million.
For the fourth quarter of 2021, the Company's revenue increased 13% year-on-year and 21% quarter-on-quarter to RMB1,822.1 million. Revenue from the office software and services and online games and others represented 50% and 50%, respectively, of the Company's total revenue for the fourth quarter of 2021. Gross profit for the fourth quarter of 2021 increased 8% year-on-year and 17% quarter-on-quarter to RMB1,449.6 million, while operating profit amounted to RMB331.4 million.
Mr. Jun LEI, Chairman of Kingsoft, commented, "In 2021, we are poised to achieve a steady growth in our core businesses leveraging our continuous investment in technological innovation. Kingsoft Office Group understands user needs and has further enhanced its products and services. It has also continued to pursue the ecosystem strategy of "multi-screen, cloud, content, artificial intelligence ("AI") and collaboration" and achieved an excellent operation performance. Meanwhile, our online games business has launched several new mobile games during the year while continuing to focus on the development of premium games, long-term operation and enrichment of core game IPs."
Mr. Tao ZOU, Chief Executive Officer of Kingsoft, added, "The Group's business continued to achieve steady growth, with revenue reaching RMB6,371.4 million, increasing by 14% year-on-year. Our office software and services business maintained a solid growth momentum and its revenue increased 45% year-on-year."
Office Software and Services
In 2021, revenue from office software and services business increased 45% year-on-year to RMB3,264.8 million. Revenue in the fourth quarter increased 19% year-on-year and 12% quarter-on-quarter to RMB903.9 million.
In 2021, Kingsoft Office Group continued to enhance its products and services for cloud office and collaboration office scenarios. With increasing user activeness and user stickiness in individual and enterprise users, cloud migration of both domestic individual and institutional subscriptions has accelerated. With the stable growth in the number of monthly active devices of its key products, Kingsoft Office Group has continued to optimize its user experience and products functions, promote cloud migration, increase usage of its value-added functions and further drove the growth in its number of paying users. In addition, the significant increase in the number of uploaded cloud documents and the increase in the proportion of long-term paying users have also laid a solid foundation for the development of the individual subscription business in the future.
Regarding the government and enterprise market, Kingsoft Office Group took advantage of the industry trend on the demands of government and enterprise users for data asset management and office efficiency improvement and has actively improved product systems, enhanced user experience and expanded eco-systems, to promote the cloud office migration of government and enterprise users. This has also set a solid foundation for its subsequent promotion of digital office platform solutions. As the cloud migration of government and enterprise users continues, Kingsoft Office Group is expected to increase its presence in the government and enterprise market.
In addition, Kingsoft Office Group has witnessed a strong demand growth from the government and enterprise users, as localization projects enter a booming stage with a fast-growing market leveraging the favourable policies. Moreover, Kingsoft Office Group also received substantial orders for its re-flowable and fixed-layout document format products which lead to the robust growth of its domestic institutional licensing business.
Online Games and others
Revenue from the online games and other businesses for 2021 was RMB3,106.6 million. Revenue for the fourth quarter of 2021 increased 8% year-on-year and 30% quarter-on-quarter to RMB 918.2million. The steady year-on-year growth in the fourth quarter was mainly due to the successful launch of several mobile games which diversified the Company's game portfolio. In the fourth quarter, revenue from the flagship JX Online III PC game and the classic JX 2D PC game grew steadily quarter-on-quarter. Moreover, we have also achieved breakthroughs in product development demonstrating the vitality of the core IP and our strong R&D and operational capabilities.
Following the successful release of the JX I Pocket mobile game in Vietnam in April 2021, JX I: Gui Lai, the domestic version of JX I Pocket mobile game was released in October. Upon its debut, JX I: Gui Lai was ranked third in the top free charts and first in the top-grossing role-playing game (RPG) charts for iOS. In November, Wu Lin Xian Xia, our self-developed mobile game, was released in China with the highest-ranking sixth in the top-grossing charts for iOS, demonstrating our successful strategic cooperation with Nuverse. In December, JX World III, the third generation of the JX World series mobile games, was launched. Upon its launch, JX World III ranked first in the top free charts and ninth in the top-grossing charts for iOS. In addition, the mobile game was also recommended on the front page of Apple Today and was recognized as a superstar product by the Mobile Hardcore Alliance.
Mr. Jun LEI concluded, "Looking forward, Kingsoft Office Group will ride on the trend of cloud and collaboration office and continue to invest in product research and development. It will also further explore the opportunities in the enterprise market and strive to empower the digital transformation of large-scale organizations. Regarding our online games business, we will maintain the development of our core IP while focusing on bringing new game genres and new IPs. Looking ahead, we will continue to invest in R&D, promote technological innovation and upgrades, and pursue social responsibility to ensure long-term sustainable growth of our business."
About Kingsoft Corporation Limited Kingsoft is a leading software and Internet services company based in China listed on the stock exchange of Hong Kong. It has two subsidiaries including Kingsoft Office and Seasun. Following the implementation of its "mobile internet transformation" strategy, Kingsoft has completed the comprehensive transformation of its overall business and management models and formed a strategic platform with office software and interactive entertainment as the pillars and cloud services and AI as the new directions. The Company has more than 7,000 staff around the world and enjoys an important market share in China. For more information, please visit http://www.kingsoft.com.
Kingsoft Investor Relations: Francie Lu Tel: (86) 10 6292 7777 Email: firstname.lastname@example.org
For further queries, please contact Hill+Knowlton Strategies Asia: Ovina Zhu Tel: (852) 2894 6315 Email: email@example.com
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comKingsoft Corporation Limited ("Kingsoft" or the "Company"; HKEx stock code: 03888), a leading Chinese software and Internet service company, has announced its 2021 annual results and fourth-quarter results for the period ended 31 December 2021.
Novum Global Ventures, the company behind CryptoHero (www.cryptohero.ai), today announced the launch of its Bots Marketplace. The Marketplace offers experienced crypto traders an avenue to earn additional income by leasing their crypto trading bots to other users. The traders can set their own monthly subscription fees with the platform taking 20% as fees.
The Bots Marketplace also gives users new to the world of automated trading, a jumpstart as these new users can simply select the bots that are already proven in real world trading.
“Our revolutionary Bots Marketplace caters to both experienced and new users. For the experienced users who are already profiting from their well-configured bots, they can now earn additional revenue by leasing out their bots to other users. For the new users, the Bots Marketplace solved one of their greatest dilemma – what settings are good for a trading bot to be profitable.”, said Christopher Low, CEO and founder of CryptoHero.
CryptoHero's Bots Marketplace is a major feature under the latest v1.5 release. CryptoHero can be accessed at the following URL – https://www.cryptohero.ai. It is available on the web, iOS and Android platforms. CryptoHero offers free and paid plans catering to the diverse needs of its users.
About Novum Global Ventures
Novum Global Ventures is a company headquartered in Singapore with offices throughout Southeast Asia. It invests in innovative blockchain startups and is behind the highly successful CryptoHero – a crypto trading bot software. CryptoHero was launched in early 2021 and has gained rave reviews among its users all over the world. Its founding team consists of experienced fund managers who operates digital asset funds.