STOCKS TELEGRAPH

Author: Mahrukh Rehan

  • Clene Inc. (CLNN) stock rose to 6.93% in aftermarket – What’s behind it?

    Clene Inc. (CLNN) stock rose to 6.93% in aftermarket – What’s behind it?

    Clene Inc. (CLNN) experienced a rise of 6.93% in the aftermarket. However, the last trading session closed at $5.05 with a decline of 4.36%.

    Patient Enrollment in the HEALEY ALS Platform Trial

    On 15th November 2021, CLNN announced the completion of enrollment in the HEALEY ALS Platform Trial. The HEALEY ALS Platform Trial is a multi-center clinical trial examining safety and effectiveness.

    Moreover, it is the first platform trial in the field of ALS. And it was created with a common placebo arm to cut down on trial time, expenses. It is done in over 50 specialists ALS clinical trial locations around the United States, with significant financial assistance from generous donors and charities.

    So what?

    CLNN is thankful to people living with ALS for their support and involvement in this groundbreaking platform study, which has allowed the company to reach this vital milestone. This accomplishment is critical for trial completion and results reporting, clearing the path for revolutionary research to continue and life-saving medicines for patients with ALS to be discovered.

    CLNN anticipates finishing the 24-week double-blind treatment phase and releasing top-line unblinded results in the second half of 2022. Furthermore, CLNN expects to file a New Drug Application with the FDA for disease modification in ALS in the second half of 2022. Lastly, CNM-Au8 may enhance outcomes for ALS patients with few therapy choices by accelerating cellular energy metabolism, according to the researchers.

    Third-quarter 2021 Results of CLNN – What’s up?

    CLNN released third-quarter 2021 results on 9th November 2021. The cash and restricted cash were $60.6 million more than $59.3 million as reported by the company. Moreover, research and development costs were over $6.1 million, more than $4.0 million. However, the company reported a net loss of about $10.5 million and $5.7 million, respectively.

    Now what?

    The company thinks that the top-line results from RESCUE-ALS show that CNM-Au8 has the potential to help patients with this severe and fatal disease. The findings add to the nanotherapeutics’ capacity to cure energetic failure, which is at the root of many neurological illnesses. Lastly, CLNN plans to disclose results from the Phase 2/3 HEALEY ALS Platform Trial in the second half of 2022, based on these findings.

    Second Quarter 2021 Results of CLNN – Was it a strong quarter?

    CLNN reported second-quarter 2021 results on 10th August 2021. The Phase 2 REPAIR clinical studies yielded promising top-line outcomes. The REPAIR clinical trial program’s goal was to show the impact of Clene’s energy-enhancing nanotherapeutic. Before and after 12 weeks of daily oral treatment with CNM-Au8, patients were scanned using 31phosphorous magnetic resonance spectroscopy, a non-invasive brain imaging method.

    Moreover, the company presented interim data from the Phase 2 RESCUE-ALS study at the Annual Meeting. CNM-Au8 is tested in individuals with early ALS in the RESCUE-ALS research, which is a randomized, placebo-controlled Phase 2 trial. The Motor Unit Number Index is used as the study’s primary endpoint (MUNIX). Lastly, MUNIX is an electrophysiological approach that estimates the number of functional motor neurons.

  • ECMOHO Limited (MOHO) stock is skyrocketing in aftermarket – Learn why?

    ECMOHO Limited (MOHO) stock is skyrocketing in aftermarket – Learn why?

    ECMOHO Limited (MOHO) experienced a boost of 7.15% in the aftermarket. However, the last trading session concluded at $0.569 with an incline of 3.44%.

    MOHO’s Partnership with Bausch + Lomb – What’s coming next?

    MOHO announced on 21st October 2021 that it has established a strategic partnership deal with Bausch + Lomb. It will help to promote and sell the products and services on the Chinese e-commerce platform Pinduoduo. Moreover, MOHO will supply high-quality eye care goods and family health solutions to consumers. This is done in order to meet the growing demand for eye health.

    Bausch + Lomb has been a major vision care firm for over 160 years and is a global innovation leader in this industry, setting quality standards. They have become synonymous with contact lenses in China. This happened when the brand first introduced contact lenses to the country. Furthermore, Bausch & Lomb offers a diverse product portfolio that includes transparent contact lenses, colored contact lenses, and contact lens care solutions. All of them are designed to help consumers achieve a clearer vision and a higher quality of life.

    Second Quarter 2021 Financial Results – Something Interesting?

    MOHO announced second-quarter 2021 results on 31st August 2021. According to the report, total net revenues were $42.8 million, $100.5 million less than the year before. The Company’s quality-driven growth strategy resulted in product sales revenue of $42.1 million in the second quarter. In addition, the services revenue was US$698,279, compared to US$780,774 this year.

    The total gross margin of MOHO was 19.6%, 17.2% more than the previous quarter. Because there were fewer low-margin brands this quarter, the gross margin of product sales was 19.1%, up from 17.0% the previous quarter. Lastly, Services gross margin fell 49.6%, down from 50.2% the previous quarter.

    Now, what’s next?

    Since the second half of 2020, China’s economic recovery has been shaky and uneven, weighing on domestic consumption and slowing retail sales growth. Moreover, increased operational problems and uncertainty for integrated service providers in China’s health and wellness business have resulted from more varied customer demand. Lastly, MOHO has resolved to manage costs and enhance efficiency through digitization and marketing innovation.

    About MOHO: Anything new?

    MOHO is a Chinese health and wellness integrated solutions provider. It curates and distributes worldwide brands and high-quality items to health-conscious Chinese customers. Not only this, MOHO links families to advanced health supplements, nutrition, and food items, personal care goods, home healthcare devices, and other wellness products by leveraging its technology, network, and skills in marketing and distribution. MOHO has built an ecosystem of trusted goods and connections over the past 10 years to give tailored solutions that encourage health regeneration, therapeutic advantages, and increased lifespan to committed consumers to maintain health.

  • China Online Education Group (COE) stock jumps to 8.91% – Why is it so?

    China Online Education Group (COE) experienced an incline of 8.91% in aftermarket. However, the last trading session closed at $2.02 with a decrease of 1.46%.

    About COE

    COE is a large Chinese online instruction company that specializes in English education. The company’s goal is to make high-quality education affordable and accessible to everyone. Through the Company’s online and mobile education platforms, students in China may attend live interactive English classes with foreign teachers from across the world.

    Furthermore, the Company employs a shared economy model to connect its students with a large pool of highly qualified foreign teachers, and it employs student and teacher feedback, as well as data analytics, to deliver a personalized learning experience for its students.

    COE’s Board of Directors

    COE’s board of directors includes Jack Jiajia Huang, Ting Shu, Frank Lin, and Xiaoguang Wu.

    Jack Jiajia Huang

    Since COE’s founding, Mr. Jack Jiajia Huang has served as chairman of the board of directors and chief executive officer. He worked for Mitsubishi Corporation (China) Co., Ltd. as an operations manager from 2007 to 2010. Furthermore, in 2007, Mr. Huang established TalkChina, an online Chinese-teaching platform for Japanese students. In 2007, he graduated from Tsinghua University with a bachelor’s degree in the Japanese language. Lastly, he was recognized by Cyzone, a Chinese entrepreneur service platform, as an outstanding entrepreneur under 30 in 2015.

    Ting Shu

    Ms. Ting Shu has been a part of COE since 2011. Between 2010 and 2012, Ms. Shu worked at Deloitte’s China enterprise risk services department. TalkChina was co-founded in 2007 by Ms. Shu and Mr. Jack Jiajia Huang. Moreover, Ms. Shu holds a bachelor’s degree in Japanese language from Tsinghua University and a master’s degree in language science from the University of Tokyo.

    Frank Lin

    Since June 2013, Mr. Frank Lin has served as COE’s director. Mr. Lin is a general partner at DCM, a venture capital firm specializing in technology. Moreover, he was the chief operating officer of SINA Corporation, a NASDAQ-listed firm, prior to joining DCM in 2006. In 1995, he co-founded SINA’s precursor, SinaNet, and later steered SINA through its NASDAQ offering. Lastly, he formerly worked at Octel Communication Inc. and NYNEX, where he held marketing, engineering, and management responsibilities.

    Xiaoguang Wu

    Mr. Xiaoguang Wu has been the independent director since June 2016. He formed Welight Capital (Hong Kong) Limited and is a founding partner. In 1999, Mr. Wu became a part of the early founding team of Tencent Inc., a Hong Kong Stock Exchange-listed company. Not only this but he has been a senior management advisor for Tencent Inc. since June 2015.

  • Ecoark Holdings, Inc. (ZEST) stock is skyrocketing in the aftermarket – Recent News!

    Ecoark Holdings, Inc. (ZEST) experienced a boost of 13.1% in the aftermarket. However, the last trading session closed at $2.9 with a decline of 5.84%.

    Q2 Fiscal 2022 – Operating Results Revealed

    ZEST announced second-quarter 2022 operating results on 11th November 2021. The revenue was $6.1 million, 86% more than the previous quarter’s $3.3 million. Moreover, the gross profit was $2.9 million, $0.95 million more than the previous quarter. The company also reported a net loss of $5.9 million compared to a net profit of $9.0 million. In addition, the second quarter of 2021 saw a net loss of $1.1 million. It was mostly due to interest expenditure and stock compensation expense.

    How was ZEST’s quarter?

    As indicated by an 86 percent growth in sales for the second quarter of fiscal 2022 compared to the prior-year period, the company continues to execute the plan and expand its operations. Also, the team is still working hard to find new ways to earn value, such as Ecoark’s recently announced cryptocurrency mining test site, which is expected to be live later this month.

    Cryptocurrency Mining Beta Site Development in Texas

    ZEST announced on 8th September 2021 that it along with its indirectly owned subsidiary Bitstream Mining LLC signed an agreement to secure 12 MW of available electric capacity for Bitstream’s mining operation. Moreover, bitstream and its strategic power consultant are working with the utility to modernize the substation.

    By January 2022, Bitstream expects the 12 MW mining station to be fully operational and producing considerable currency, with monthly earnings of $4.4 million1 expected. This includes payments for participation in ERCOT Demand Response initiatives. By December 2022, the fully constructed 50 MW facility should be ready. Furthermore, the company intends to mine a diverse basket of large-cap cryptocurrencies with the highest miner reward-to-price ratio. Lastly, the company is planning to sell enough coins to pay Bitstream’s monthly operational costs, with the remaining crypto being used for fiat transactions.

    ZEST’s Operating Results for Q1 Fiscal 2022 – What happened?

    ZEST reported operating results for first-quarter fiscal 2022 on 16th August 2021. The revenue of $6.9 million was achieved, $2.3 million more than the preceding year’s quarter. Gross profit was $2.9 million, up from $1.2 million the year before, with gross margins of 42 percent. Moreover, the company also reported a net income of $2.6 million in the prior-year quarter. The non-cash gain was about $5.0 million in the first quarter of fiscal 2022. It was largely attributable to a change in the fair value of derivative obligations.

    How’s the quarter been?

    ZEST continues to evolve and extend its operations, as indicated by a 25% increase in sales during the first quarter of fiscal 2022. In addition, the staff is always looking for new ways to provide value, such as Ecoark’s recent investment in cryptocurrency mining beta site.

  • Blend Labs, Inc. (BLND) is on a boost in the aftermarket – What’s going on?

    Blend Labs, Inc. (BLND) saw an incline of 1.2% in the aftermarket following the company’s participation in the Wells Fargo TMT Summit. However, the last trading session concluded at $11.66 with a decrease of 2.91%.

    Wells Fargo TMT Summit – What’s up?

    BLND announced on 19th November 2021 that on Thursday dated December 2, 2021, Tim Mayopoulos, President of Blend, will participate in a virtual fireside talk at the Wells Fargo TMT Summit. However, the debate will start at 8:40 a.m. ET/5:40 a.m. PT.

    PRMG & BLND Relationship

    BLND announced the expansion of its partnership with Paramount Residential Mortgage Group, Inc. (PRMG) on 17th November 2021. PRMG is also using Blend’s next-generation Encompass integration, LO Toolkit (a one-stop-shop for loan officers), and real estate agent mobile app. This demonstrates their dedication to digitizing the end-to-end mortgage process. Blend allows more time for PRMG’s loan teams to work one-on-one with consumers. It is done by enhancing efficiency for loan officers, processors, and closing teams. Moreover, loan officers may use Blend to unload repetitive work, improve the application and approval process, and provide superior customer service.

    PRMG & BLND: What’s going on?

    PRMG’s engagement with Blend is in its second full year. The company has seen them rise to the top not only as a point-of-sale provider but also for the full end-to-end borrower experience. BLND is already being used by a large portion of the retail business to fund loans, and the company expects the usage to skyrocket.

    The company is also certain that this expanded cooperation with BLND will elevate PRMG’s efficiency in underwriting to a whole new level. Lastly, BLND is undoubtedly the best platform available in this field.

    Third Quarter 2021 Results

    BLND reported third-quarter 2021 results on 10th November 2021. The company added 17 new accounts to the entire client base. It includes Prosperity Bank, Valon Mortgage, UpEquity, and Accept, Inc. Moreover, the company has launched Blend Income Verification. It is a software application that clients may put on for an additional price, and over 50 customers have signed up thus far. Revenue from the Blend Platform division was $35.1 million, increasing 26% year over year and 9% sequentially. In addition, the total banking transaction volume increased by 24% year over year to over 525,000.

    How was the quarter?

    BLND set a new quarterly revenue record for the Blend Platform segment. This made the company grow by adding new customers across verticals, innovating to expand existing customer relationships, and developing and selling new products.

    In terms of new products, BLND introduced the Blend Income Verification service in the third quarter. Also, it has signed over 50 clients so far. Overall, they are optimistic about the progress on the Blend Platform and the Title365 business integration.

  • Unicycive Therapeutics, Inc. (UNCY) stock goes down to 0.39% – Learn what’s happening?

    Unicycive Therapeutics, Inc. (UNCY) has seen a decline of 0.39% in the aftermarket. However, the last trading session closed at $2.59 with an increase of 1.57%.

    Third Quarter 2021 Financial Results – How was the quarter?

    UNCY revealed third quarter 2021 financial results on 11th November 2021. According to the report, research & development costs were $3.8 million, $0.3 million more than the third quarter of 2020. This was primarily attributable to a one-time $2.2 million increase in non-cash expenditure owing to the issuance of common shares in accordance with the anti-dilution provision in the Renazorb licensor’s purchase of in-process R&D technology. This is the last anti-dilution share issue by the licensor.

    Moreover, UNCY reported $0.9 million in general and administrative costs, $0.3 million more than the third quarter of 2020. The majority of the increase was due to a $0.3 million rise in directors’ and officers’ insurance expenses. Last but not least, the cash and cash equivalents came out to be $18 million.

    Views of Experts on Third Quarter 2021

    The experts said that in the last quarter, the company has achieved significant business progress to increase Unicycive’s interest and visibility within the investing community. This is done by being included in the Russell Microcap Index and participating in conferences. They are also thrilled to have biopharmaceutical executive Douglas Jermasek on board, whose extensive knowledge with renal disease medicines has already proven invaluable.

    UNCY Executive Vice President

    On 26th October 2021, UNCY announced that Douglas Jermasek has been named Executive Vice President of Corporate Strategy by the company. Mr. Jermasek will be in charge of Unicycive’s retail and corporate plan as well as business development operations in this position. Moreover, he has over 25 years of expertise in the biopharmaceutical business. He was most recently Senior Vice President of Marketing and Strategy at Akebia Therapeutics, a position he took after the company merged with Keryx Biopharmaceuticals.

    He worked with Genzyme for almost a decade, rising to the position of Senior Vice President and General Manager, Head of Renal Global Business Unit. Furthermore, he achieved “blockbuster” status internationally in that role. He drove sales of over $1 billion and established Renvela as the standard of care for the treatment of hyperphosphatemia in patients. Lastly, Mr. Jermasek has also held management roles at Prometheus Laboratories, and the Head of North America at Intercept Pharmaceuticals.

    All About UNCY

    UNCY is a biotech business that is working on new kidney disease medicines. Renazorb, Unicycive’s primary medication, is a new phosphate-binding agent under development for hyperphosphatemia therapy. For the treatment of acute renal damage, UNI-494 is a patent-protected novel chemical compound in late preclinical development.

  • Enochian Biosciences, Inc. (ENOB) stock is declining in aftermarket – Here’s why?

    Enochian Biosciences, Inc. (ENOB) experienced a decline of 6.41% in the aftermarket. However, the last trading session closed at $11.07 with an increase of 10.04%.

    Successful Completion of an FDA Pre-IND – What’s it about?

    ENOB successfully announced on 18th October 2021 that the Investigator Pre-Investigational New Drug (IND) process has been completed. Dr. Serhat Gumrukçu, co-founder and creator of Enochian BioSciences and Director of Seraph Research Institute (SRI) initiated an investigator-initiated Pre-IND.

    Moreover, the request was based on the findings of a 54-year-old HIV-positive male who had not been able to suppress the virus with antiviral medication (ART). Following that, the patient stopped using ART and received an SRI-developed therapy. However, Enochian BioSciences licensed the product. Last but not least, the patient’s HIV infection blood levels were managed more successfully for 365 consecutive days off ART utilizing this novel revolutionary SRI medication.

    What does ENOB say about it?

    ENOB appreciates the FDA’s thoughtful and helpful remarks, which have now cleared the way for them to file an IND in the near future. Also, the company is happy to know that they are one step closer to making this medicine available to more individuals living with HIV.

    Despite the fact that the results are preliminary and only in one individual, the sooner the strategy can be tested in others, the better. If confirmed to be successful, it might provide hope to many people who are looking for alternatives to expensive and difficult-to-maintain daily treatments.

    Resignation of Scientific Advisory Board Member – But why?

    On 15th October 2021, ENOB announced that Dr. Peter Piot, the Chairperson of the Respiratory Diseases Scientific Advisory Board, has resigned due to major obligations instructing a major governmental organization on COVID-19 which created a conflict.

    However, Dr. Peter says that the groundbreaking science and promise of Enochian BioSciences’ whole pipeline continues to impress and excite him. But his obligations as a consultant to a government agency prevent him, from continuing as a scientific advisor.

    New Joining to ENOB – Who are they?

    ENOB announced the appointment of Dr. Peter and Dr. Richard on 30th August 2021. Dr. Peter has worked on pandemics for over 40 years. Not only this, but he is well aware of the complexity of the scientific approach to possibly cure and prevent any forms of SARS-CoV-2 and Influenza. Perhaps more importantly, Enochian’s products may be able to avert future corona- and influenza-virus pandemics.

    On the other hand, Dr. Richard is looking forward to working with ENOB as they strive to create medicines. That might be critical in controlling and, eventually, ending the COVID-19 epidemic. This might potentially restrict disease while also spreading the virus, making it a win-win situation.

  • Overseas Shipholding Group, Inc. (OSG) is on a downfall – What’s going on?

    Overseas Shipholding Group, Inc. (OSG) saw a decrease of 7.49% in the aftermarket. However, the last trading session concluded at $1.87 with a decline of 1.06%.

    Third Quarter 2021 Results

    OSG announced third quarter 2021 results on 9th November 2021. The company reported shipping revenues of $94.0 million. Moreover, the company lost $0.7 million, or $0.01 per diluted share. Not only this, but the Company recorded a $1.0 million impairment charge on two of its leased boats in the third quarter of 2021. The Company refinanced its term loans due December 2023 and November 2026.

    This enhanced their liquidity by extending the maturity of their long-term debt. Furthermore, OSG recorded an $8.0 million net loss on these transactions. Lastly, the Company revised its other debt arrangements as part of this transaction, resulting in covenant clauses that are commensurate with the new term loan’s conditions.

    Was it a strong quarter for OSG?

    The continuous sequential increase in quarter-to-quarter EBITDA performance was the most remarkable aspect of financial results. Moreover, vessels in operation performed well in the third quarter, generating steady cash flow. In addition, two ships were also reactivated and rejoined the working fleet in recent weeks.

    As Jones Act vessel availability tightens in the fourth quarter and into 2022, OSG believes that this trend will continue. Until the first quarter of 2022, all of OSG’s operational boats will be on-time charter. Moreover, current conditions favor the reactivation of further laid-up vessels before the end of the year, giving hope that sequentially better quarterly EBITDA performance will improve.

    Closing of a $325 million loan to refinance debt – Now what?

    OSG finally reported on 4th October 2021 that the company has ended on a seven-year $325 million term loan credit facility with Stonebriar Commercial Finance. The proceeds will substitute its existing term loan facility with The Prudential Insurance Company of America. OSG and some other subsidiaries guarantee the borrowers’ performance under the Term Loan Refinancing. Lastly, the loan includes standard representations and warranties, as well as positive and negative covenants.

    OSG’s overview

    OSG is happy to have completed this important refinancing, which extends its maturity profile and improves the Company’s liquidity position significantly. Until September 2024, OSG has no debt maturities scheduled. Lastly, the company also expresses its gratitude to Stonebriar for successfully completing this transaction and becoming the most important financial partner.

  • Oncorus, Inc. (ONCR) stock is getting down to 7.38% – What’re the reasons?

    Oncorus, Inc. (ONCR) experiences a decline of 7.38% in the aftermarket. However, the last trading session closed at $5.83 with a decrease of 1.19%.

    Phase 1 Clinical Study of ONCR-177

    On 12th November 2021, the company announced that ONCR-177 is now being studied in a Phase 1 open-label, multi-center, dosage progression, and expansion clinical study. Moreover, the experts presented its preliminary safety, acceptability, immune activation, and clinical response findings.

    Now what?

    ONCR-177 was well absorbed with no dose-limiting toxicities in the fully recruited and completed surface lesion dosage escalation phase of the Phase 1 research. Furthermore, three of eight evaluable patients with cutaneous melanoma, and mucosal melanoma at RP2D exhibited clinical benefit. Last but not least, ONCR-177 is an intratumorally given viral immunotherapy being developed by ONCR for a variety of solid tumor applications.

    Licensing Agreement with Gaeta Therapeutics Ltd. – Is it worth it?

    ONCR reported on 11th November 2021 about the exclusive licensing deal with Gaeta Therapeutics Ltd. This agreement is for the use of locally administered Interleukin-12 (IL-12) via oncolytic viral expression. Moreover, the University of Zurich established Gaeta Therapeutics in 2017 as a vehicle for commercializing its immune-oncology patent portfolio pertaining to the use of IL-12 in conjunction with checkpoint inhibitors in cancer therapy.

    IL-12 is a transgene that stimulates and grows CD8, CD4 TH1, and natural killer cells in the immune-oncology field. IL-12 in combination with immune checkpoint blockade has shown the capacity to increase therapeutic response in select patients when compared to immune checkpoint inhibitor therapy alone. Lastly, in ONCR-177, the primary viral immunotherapy product candidate, IL-12 is one of five immunomodulatory payloads.

    What’s next?

    The company is happy to engage in this agreement with Gaeta. It is so because it strengthens the company’s future commercialization plan and potential for ONCR-177. The company is trying to accelerate innovation and advance the aim of realizing the full promise of viral immunotherapy for cancer patients. Moreover, the company will continue to pursue further strategic opportunities to distinguish the pipeline initiatives.

    ONCR’s Third Quarter 2021 financial results – How’s it going?

    ONCR announced third quarter 2021 financial results on 3rd November 2021. ONCR-177 is an intratumorally (iTu) given oHSV viral immunotherapy for numerous solid tumor applications. It is still enrolling patients at 11 locations across the United States and Canada in Phase 1 clinical study.

    Moreover, ONCR-021 is now undergoing GLP safety and tolerability trials. And the company plans to file an IND in the first half of 2023. In addition, ONCR-788 is also undergoing preliminary non-GLP safety and tolerability trials. Last but not least, the company intends to test its unique Synthetic vRNA immunotherapies.

  • Kuke Music Holding Limited (KUKE) stock is jumping higher in aftermarket – What’s causing it to rise?

    Kuke Music Holding Limited (KUKE) experienced an incline of 5.91% in the aftermarket. However, the last trading session closed at $4.4 with an increase of 1.62%.

    Initial Screening – What’s it all about?

    On 5th November 2021, KUKE stated that the 16th International Beethoven Piano Competition would be screened in certain places across China at first. The screenings will take place on Beethoven’s 251st birthday. Kuke and its sibling firm Naxos will sponsor the competition, and will also fund and promote the screenings.

    Now what?

    KUKE feels honored to sponsor the Beethoven Piano Competition Vienna. Not only this but it will first screen the material in Chinese theatres, motivating future generations of Chinese pianists. Moreover, the company is dedicated to producing and providing novel viewing experiences and richer content for its clients by utilizing Kuke and its sister business Naxos’ strong position in classical music.

    Third Quarter 2021 results – When will KUKE reveal them?

    KUKE announced on 13th October 2021 that the company will release third-quarter 2021 results before the U.S. market opens on Monday, November 29, 2021. Moreover, on Monday, November 29, 2021, at 7:30 a.m. U.S. Eastern Time, Kuke’s management will have a conference call to disclose third-quarter results.

    Second Quarter 2021 results – What happened?

    KUKE revealed second quarter 2021 results on 4th August 2021. According to the company’s reporting, the total revenue climbed by 732.0 percent to RMB84.1 million almost equivalent to US$13.0 million. Moreover, revenue from smart music learning solutions climbed by 34.2 times US$3.2 million in 2020 from RMB0.6 million. Also, licensing and subscription income climbed by 328.3% in the first half of 2020, compared to RMB9.2 million at the same time the previous year.

    Along with some financial stats, the company also announced that over 4,500 kindergartens had formed partnerships with the company. In addition, the overall number of pieces of material in the Company’s classical music collection rose by more than 80,000 to over 2.7 million as of June 30, 2021. Last but not the least, KUKE began providing business performance planning and implementation services.

    How was KUKE’s quarter?

    A solid business recovery, exceptional sales growth, and better profit margins defined a strong second quarter. KUKE extended its classical music content library, streamlined smart music hardware, content, and systems, and provided planning and execution services. The company is sure that these initiatives will continue to improve the already considerable synergies that exist across all elements of the operations, as well as fuel their forward growth momentum.