QINGDAO, China, Dec. 21, 2020 /PRNewswire/ — SOS Restricted (NYSE: SOS) (the “Company” or “SOS”), a high-tech company delivering a wide assortment of data mining and advertising examination companies to its corporate and unique associates in China introduced nowadays its preliminary estimates of specific money final results for its whole fiscal yr of 2020 ending December 31, 2020, and business enterprise outlook for the fiscal yr of 2021.
Outstanding Income Development Anticipated For Whole 12 months 2020
Based mostly on data accessible as of now, entire year 2020 profits is expected to be roughly $49.5 million, symbolizing development of 451% when compared to that of 2019. The revenue’s strong advancement is largely thanks to the effective execution of the Firm’s enterprise transformation method, which enabled us to cease our legacy peer-to-peer lending company and aim on offering marketing-linked knowledge for purchasers these types of as coverage organizations, economical institutions, clinical institutions, health care suppliers and other service companies in the emergency rescue solutions business. The gross margin is anticipated to be somewhere around 9%, up from 5% very last year. US GAAP internet profit gain is expected to be close to $3.1 million.
Organization Outlook 2021
1. The Organization expects net income growth of approximately 286% for complete-yr 2021. 
2. In order to develop into a countrywide supplier in China, the Company will keep on to go after an acquisition of a national insurance policy brokerage agency.
3. The Business is fully commited to boost its rescue infrastructure community about substantial-way exits to present its users superior services.
4. To further grow the consumer foundation significantly and improve our health care assistance giving, administration is searching to put into action the strategic cooperation partnership with Qingdao West Coastline Health care Growth Team Co., Ltd , which is expected to jointly advertise the software and advancement of modern healthcare options.
SOS Chairman Yandai Wang commented, “In a calendar year of sector uncertainty and ongoing disruptions from the pandemic, I am unbelievably very pleased to share our report-breaking success for the comprehensive yr of 2020. Regardless of the difficulties, SOS delivers a strong calendar year of fiscal effectiveness, with our main information mining and investigation company substantially outperforming expectations in the 2nd 50 % of 2020. These effects mirror management’s consistently robust execution of our business plan and vision.”
He continued, “With China’s insurance coverage market place expanding at a CAGR of 11.4% from 2010 to 2020, as noted by the National Bureau of Figures of China, merged with our strategic cooperation with Qingdao West Coastline Health care Growth Team, we continue being psyched about marketplace prospect and important growth possible. Hunting ahead, we count on continued potent momentum and revenue progress.” 
About SOS Restricted
SOS Constrained, via its functioning subsidiary, SOS Information and facts Engineering Co., Ltd. (“SOS”), supplies extensive assortment of data mining and analysis solutions to its corporate and person associates, this sort of as insurance companies, money institutions, clinical establishments, health care vendors and other provider vendors in the crisis rescue sector by generating a SOS cloud crisis rescue support software program as a service (SaaS) platform. Its mission is to make it easier, safer and additional economical for its customers to receive and approach the info of their goal buyers. SOS transforms electronic technological know-how into info-driven functions by the investigate and enhancement of significant info, cloud computing, World wide web of Factors, blockchain and synthetic intelligence.
SOS has acquired a countrywide large-tech enterprise certification and the title of “major info star enterprise,” awarded by Gui’an New District Govt. Keeping on the forefront of digital technology innovation, the Company has registered 31 software package copyrights and 2 patents. For much more details, be sure to stop by: https://www.sosyun.com/
Ahead-On the lookout Statements
Forward-Looking Statements
Particular statements manufactured herein are “ahead-searching statements” inside of the that means of the “harmless harbor” provisions of the Non-public Securities Litigation Reform Act of 1995. Ahead-wanting statements may well be recognized by the use of phrases this sort of as “foresee,” “imagine,” “hope,” “estimate,” “plan,” “outlook,” and “challenge” and other identical expressions that forecast or suggest upcoming activities or tendencies or that are not statements of historical matters. These forward-on the lookout statements consist of timing of the proposed transaction the business enterprise strategies, objectives, expectations and intentions of the events SOS’s approximated and upcoming effects of operations, business methods, competitive position, business atmosphere and possible advancement opportunities sector acceptance of our items the supreme effect of the recent Coronavirus pandemic, or any other wellness epidemic, on our organization, our research packages, health care techniques or the worldwide financial state as a total our mental home our reliance on third social gathering companies our anticipated monetary and running results, including expected sources of revenues our assumptions pertaining to the dimensions of the available marketplace, advantages of our products giving, product pricing, timing of products launches management’s expectation with regard to upcoming acquisitions statements with regards to our aims, intentions, designs and expectations, together with the introduction of new items and markets and our funds desires and funding plans and and many others. These ahead-looking statements reflect the present-day assessment of current data and are subject matter to several dangers and uncertainties. As a outcome, warning will have to be exercised in relying on forward-seeking statements. SOS might not comprehend its anticipations, and its beliefs may not confirm correct. Owing to regarded and unidentified dangers, our genuine results could differ materially from our anticipations or projections. All forward-wanting statements attributable to the Organization or people acting on its behalf are expressly qualified in their entirety by these components. Other than as necessary below the securities rules, the Corporation does not think a duty to update these forward-wanting statements.
Supplemental information relating to these and other factors that might effect our anticipations and projections can be discovered in our periodic filings with the SEC, which includes our Annual Report on Type 20-F for the fiscal year finished December 31, 2019. SOS’s SEC filings are accessible publicly on the SEC’s web page at www.sec.gov. SOS disclaims any obligation to update the ahead-hunting statements, no matter whether as a outcome of new information and facts, future functions or if not.
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