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SOS Limited American Depositary Shares, one hundred and fifty (150) - SOS STOCK NEWS

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SOS Limited (NYSE: SOS) is a multifaceted company leveraging the power of big data to provide innovative marketing solutions while actively participating in blockchain and cryptocurrency operations, as well as commodity trading. Founded with the vision of harnessing advanced technologies, SOS has diversified its product offerings across four main areas: commodity trading, insurance marketing, cryptocurrency mining, and other services. The company operates through three key segments: Commodity trading, Cryptocurrency mining, and Others.

Commodity Trading: The backbone of SOS's revenue, generating 90.5% of its total income, involves trading in major commodities such as mineral resin, soybeans, wheat, sesame, liquid sulfur, petrol coke, and latex. Facing a significant demand dip due to economic challenges in China, the company continues to navigate through global price surges in commodities and energy.

Cryptocurrency Operations: SOS has expanded swiftly within the realm of blockchain and cryptocurrency. The company has deployed over 8,000 mining rigs and entered into hosting agreements, bolstering its monthly revenues. Despite a volatile market, it continues to mine Bitcoin and Ethereum, capitalizing on price increases and improving operational efficiencies.

Recent Developments:

  • In August 2023, SOS launched over 5,000 mining rigs in Texas and entered a Hosting Agreement with BITMAIN, enhancing its North American presence.
  • In January 2024, the company added 1,500 super-computing mining rigs in Texas and secured a hosting contract with Grand Flourish Inc.
  • March 2024 saw SOS's North American operations producing 29.434 BTC and generating $5 million in hosting revenues.

Financial Highlights: The company's financial landscape has seen fluctuations with a notable decline in revenue from $260 million in 2022 to $92.4 million in 2023, primarily due to the recession in China and disposal of its data mining operations. However, revenue from cryptocurrency mining surged from $0.33 million to $18.9 million during the same period, underscoring the company's strategic pivot.

Future Outlook: With a robust cash reserve of $279.2 million as of December 31, 2023, SOS plans to continue its growth trajectory by investing in cloud cryptocurrency mining, security, and insurance, alongside maintaining a strong foothold in commodity trading. As the company pushes through its North American growth strategy, it aims for an increased operational footprint and sustained revenue growth.

For more information, please visit: http://www.sosyun.com/.

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SOS has announced plans to invest $50 million in Bitcoin purchases as part of its strategic expansion in blockchain and cryptocurrency operations. The decision comes as Bitcoin trades around $93,000 per coin, with projections suggesting it may exceed $100,000 by year-end. The company plans to implement various quantitative trading strategies, including investing, trading, and arbitrage, to maximize returns while managing market volatility. The initiative aligns with favorable U.S. policy developments and growing institutional support for digital assets. Chairman and CEO Yandai Wang cited robust Bitcoin market performance and positive developments like Bitcoin-related ETF options as key factors supporting this investment decision.

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SOS (NYSE: SOS) announced plans to change its American Depositary Shares (ADS) ratio from 1:10 to 1:150 Class A ordinary shares, effective around November 19, 2024. This change will function as a one-for-fifteen reverse ADS split. ADS holders in The Depository Trust Company and Direct Registration System will have their ADSs automatically exchanged, with fractional shares being sold and proceeds distributed to holders. The company's Class A ordinary shares remain unchanged, and SOS will continue trading on NYSE under the symbol 'SOS'. While the ADS price is expected to increase proportionally, the company provides no guarantees.

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SOS reported its semi-annual financial results for the six months ended June 30, 2024. Net revenue increased by 47.1% to $60.5 million, primarily due to higher sales of natural rubber. The company's revenue breakdown was: 91.7% from Commodities Trading, 7.8% from Hosting Services, and 0.5% from Others. Gross profit ratio improved from 0.2% to 4.0%. However, GAAP net loss increased slightly to $10.9 million from $10.7 million in the same period last year. Operating costs rose by 39.3% to $58.1 million, while general and administrative expenses increased by 54.3% to $14.5 million. The company's cash and cash equivalents stood at $246.7 million, a decrease of $3.2 million from the previous year. SOS raised $24.79 million through share issuance during the period.

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SOS (NYSE: SOS) has received a non-compliance letter from the New York Stock Exchange (NYSE) due to the trading price of its American depositary shares (ADSs) falling below $1.00 over a consecutive 30 trading-day period. The company has a six-month cure period to bring its share price and average share price back above $1.00 to regain compliance.

SOS can regain compliance if, on the last trading day of any calendar month during the cure period, it has a closing share price of at least $1.00 and an average closing share price of at least $1.00 over the preceding 30 trading days. If compliance is not achieved by the end of the cure period, the NYSE may initiate suspension and delisting procedures. The notice does not immediately impact the listing of SOS's ADSs on the NYSE.

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SOS (NYSE: SOS) reported significant changes in its financial performance for the year ending December 31, 2023. Revenue decreased from $260 million in 2022 to $92.4 million in 2023, driven by a recession in China's economy. However, cryptocurrency mining revenue surged from $0.33 million to $18.9 million due to a substantial increase in BTC prices. Operating loss narrowed to $4.8 million from $215 million in the previous year. Operating expenses decreased from $204 million to $18.9 million, primarily due to reduced G&A expenses and impairments. Cash and cash equivalents increased to $280 million. Despite a decline in commodity trading revenue, SOS saw improved cash flows, turning a $72.9 million deficit in 2022 to a positive $9.7 million in 2023.

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SOS Limited (SOS) announced a securities purchase agreement to raise $7.85 million through the sale of American Depositary Shares (ADS) and warrants in a public offering. The offering includes 5,233,332 ADSs and warrants to purchase 10,466,664 ADSs with an exercise price of $1.50. The gross proceeds are estimated at $7.85 million before expenses, with the offering expected to close soon.
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SOS Limited (SOS) provides an update on its North American Super-Computing Centers, showcasing impressive mining outputs and hosting revenues. With a total of 29.434 BTC mined and $5 million in hosting revenues, SOS demonstrates strong operational performance in 2024.
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SOS (NYSE: SOS) has announced the launch of 1,500 super-computing mining rigs in its Fort Stockton Texas Super-Computing Center, marking a significant step in its North American growth strategy. The company has entered into a hosting contract with Grand Flourish Inc. for the servers, showcasing its steady implementation of mining and hosting business in North America over the past two years. With the Texas Super-Computing Center capable of producing 42MW of power and potential capacity for 200MW, and the Wisconsin Super-Computing Center expected to reach a total power capacity of 25MW, SOS is currently operating at a total hash rate of 1.35 Exahash (EH/s) in North America.
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SOS Limited reports 2023 Interim financial results. Revenues decline due to economic slowdown and disposal of legacy business. GAAP net loss narrows to $11.0 million. U.S. Hosting Service sees growth. Cash balance slightly increased to $249.9 million.
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SOS Limited has launched over 5,000 mining rigs and entered into a Hosting Agreement with BITMAIN. CEO expects monthly revenues of more than $1 million.
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FAQ

What is the current stock price of SOS American Depositary Shares, one hundred and fifty (150) (SOS)?

The current stock price of SOS American Depositary Shares, one hundred and fifty (150) (SOS) is $8.12 as of December 11, 2024.

What is the market cap of SOS American Depositary Shares, one hundred and fifty (150) (SOS)?

The market cap of SOS American Depositary Shares, one hundred and fifty (150) (SOS) is approximately 10.5M.

What is SOS Limited's primary business focus?

SOS Limited focuses on big data marketing solutions, blockchain and cryptocurrency operations, and commodity trading.

How does SOS generate its revenue?

SOS generates revenue mainly from commodity trading, followed by cryptocurrency mining and hosting services.

What are SOS's recent achievements?

Recent achievements include launching over 5,000 mining rigs in Texas, securing hosting agreements, and expanding its North American operations.

How has SOS's financial performance been recently?

SOS reported a revenue decline to $92.4 million in 2023, but saw a surge in cryptocurrency mining revenue from $0.33 million to $18.9 million.

What commodities does SOS trade?

SOS trades commodities like mineral resin, soybeans, wheat, sesame, liquid sulfur, petrol coke, and latex.

What is the significance of SOS's North American operations?

The North American operations include significant cryptocurrency mining and hosting services, contributing to increased revenue and operational capacity.

What are SOS's future plans?

SOS plans to invest in cloud cryptocurrency mining, security, and insurance, while continuing to expand its commodity trading activities.

How does SOS handle its cryptocurrency operations?

SOS engages in cryptocurrency mining using advanced mining rigs and hosting agreements, focusing on Bitcoin and Ethereum.

Who are SOS's key partners?

Key partners include BITMAIN for cryptocurrency mining equipment and Grand Flourish Inc. for hosting services.

Where can I find more information about SOS Limited?

More information about SOS Limited can be found on their official website: http://www.sosyun.com/.

SOS Limited American Depositary Shares, one hundred and fifty (150)

NYSE:SOS

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10.49M
2.20M
19.32%
1.01%
8.77%
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