Wednesday, January 13, 2021
10:37 AM EST – Hello Pal International Inc. : Announced a recap of its performance over the year 2020, with a highlight being that it experienced a growth in monthly revenue of over 900% over the course of last year. After integrating livestreaming services into its international social networking platform in 2019 and generating revenues in the middle of that year, the Company’s monthly revenue climbed to RMB1,000,000 (CAD 200,000) in January 2020. By the end of the year, it had risen to over RMB 10,848,000 ( CAD 2.1 million ) for December 2020 , representing an increase of over 900%. In total, the Company achieved a total revenue of RMB60,000,000 ( CAD 10.2 million ) for the entire year. Furthermore, the Company achieved strong cash flow over the year, which exceeded its ongoing operating costs. In addition, the Company started to increase its service offerings beyond livestreaming, and launched a 1-on-1 live video matching service towards the end of last year. At the same time, the Company expanded its revenue model by introducing its VIP monthly subscription service, where users can subscribe to be VIP members in order to enhance their experience on the Hello Pal platform. Hello Pal International Inc. (C.HP) shares were unchanged at 0.235.
Stocks in Play: Hello Pal International Inc., Wed, 13 Jan 2021 10:45:02 EST