Welcome to our dedicated page for CTK news (Ticker: CTK), a resource for investors and traders seeking the latest updates and insights on CTK stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect CTK's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of CTK's position in the market.
The New York Stock Exchange (NYSE) announced that it will begin proceedings to delist the American Depositary Shares (ADSs) of CooTek (Cayman) Inc. (ticker: CTK). The decision follows the company's failure to meet the NYSE’s continued listing standards, specifically maintaining an average market capitalization of at least $15,000,000 over a 30-day trading period. Trading of CTK's ADSs was suspended on May 19, 2022. The company may seek a review of this decision before the NYSE takes further action to delist the ADSs.
On May 10, 2022, CooTek (CTK) announced the launch of Readict's first NFT line and NFT Mall, integrating its online reading platform with crypto innovations. This development aims to create a metaverse for readers, enhancing interaction between authors and audiences. The first NFT, themed after a popular novel, enhances creators' revenue while providing readers opportunities to invest in digital assets. CooTek plans further metaverse features like Read-to-Earn and Write-to-Earn, promoting a new model for content creation aimed at enriching reader engagement and expanding its entertainment ecosystem.
CooTek (Cayman) Inc. (NYSE: CTK) announced an update regarding its status under the Holding Foreign Companies Accountable Act (HFCAA). On May 4, 2022, the SEC provisionally designated CooTek as a Commission-Identified Issuer following its 2021 Form 20-F filing. The SEC's identification stems from CooTek's auditor being among those whose reports the PCAOB cannot fully inspect. If this persists for three consecutive years, CooTek's shares may be prohibited from trading on U.S. exchanges. The company is evaluating strategic options while monitoring market developments.
CooTek (Cayman) Inc. (NYSE: CTK) filed its annual report on Form 20-F for the fiscal year ending December 31, 2021, with the SEC on April 29, 2022. The report includes audited consolidated financial statements and is available on the Company's investor relations website and the SEC's site. Shareholders can request a hard copy of the annual report free of charge. CooTek specializes in mobile applications, focusing on online literature, scenario-based content apps, and mobile games, aiming to meet the evolving needs of mobile internet users.
CooTek (Cayman) Inc. (NYSE: CTK) announced a significant change in its American Depositary Shares (ADS) ratio, transitioning from 1 ADS to 50 Class A ordinary shares to 1 ADS to 650 Class A ordinary shares. This action, effective around May 9, 2022, represents a 1-for-13 reverse ADS split. The company expects this change will proportionally increase the ADS trading price, though no guarantees are provided. The modification does not affect the underlying ordinary shares, and no fractional new ADSs will be issued; instead, cash proceeds from fractional entitlements will be distributed to ADS holders.
CooTek (Cayman) Inc. (NYSE: CTK) announced that its online literature app, Fengdu Novel, has successfully partnered with Tencent Video's Mars Project to adapt five selected works into short films. This collaboration highlights Fengdu's strong IP incubation capabilities and ongoing focus on content commercialization. The app has recently turned profitable, as noted in its latest financial results. Additionally, Fengdu is enhancing the in-app environment through community initiatives, writer recruitment, and diverse literature competitions to attract users and improve content creation.
CooTek (NYSE: CTK) reported Q4 2021 results, showing a net revenue of US$53.0 million, down 48% YoY from US$102.4 million. Gross profit fell 51% to US$47.0 million, with a gross margin of 88.7%. The company recorded a net loss of US$0.3 million, which is an improvement over the US$18.8 million loss from the previous year. Total annual revenue for 2021 was US$272.1 million, a 38% decrease from 2020. CooTek's mobile games segment is performing well overseas, potentially mitigating declines in the Chinese market.
CooTek (Cayman) Inc. (NYSE: CTK) announced that Chairman Karl Kan Zhang plans to use personal funds to purchase up to US$3 million worth of the Company's American Depositary Shares over the next six months. These purchases will be made in compliance with applicable laws and CooTek's trading policy. Zhang is subject to a lock-up period of at least six months for these shares. This initiative reflects senior management's confidence in CooTek's long-term growth potential in the mobile internet market.
CooTek (Cayman) Inc. (NYSE: CTK) will report its unaudited financial results for Q4 and fiscal year 2021 on March 15, 2022, before U.S. market opening. An earnings conference call will follow at 8:00 AM ET on the same day. Investors can participate via various dial-in options provided in the release. The replay of the call will be available until March 22, 2022. CooTek focuses on mobile applications in online literature, content apps, and mobile games, aiming to meet the evolving needs of mobile internet users.
CooTek (CTK) announced that its mobile game Love Fantasy topped the list of Most Downloaded iOS Chinese Overseas Games in December 2021, achieving 2.5 million downloads and a 216.5% month-on-month increase. The game also ranked second on Google Play with a 238.1% monthly increase. Designed for female players, it features engaging gameplay and an interactive romance storyline, garnering high user ratings (4.9 on App Store, 4.8 on Google Play). CooTek's game studios have seen significant success, indicating strong R&D and distribution capabilities.
FAQ
What is the market cap of CTK (CTK)?
