CTK - CTK STOCK NEWS

CooTek (Cayman) Inc. (NYSE: CTK) announced its participation in the 2021 International Game Business Conference held in Shanghai on July 28, 2021. Mr. Zhengchao Lu, Head of CooTek's overseas gaming business, shared insights on the company's overseas development and game product strategy. CooTek aims to lead in the ultra-casual gaming segment by investing in studios domestically and abroad, enhancing its capabilities in localized operations and one-stop distribution services. The company seeks to achieve cultural exports for China and strengthen international communication.

CooTek (Cayman) Inc. (NYSE: CTK) presented its global game products and international operation platform at ChinaJoy 2021, highlighting its game distribution and service advantages. The company has developed a matrix of mobile games, attracting over 10 million users. CooTek's one-stop distribution service enhances market demand with algorithmic support, benefiting both game developers and users. Notably, its platform Fantastic LeDou has expanded to include 127 games, fostering cooperation with numerous content partners and increasing revenue opportunities for developers.

CooTek (Cayman) Inc. (NYSE: CTK) reported first quarter 2021 results, revealing a net revenue of US$81.6 million, down 24% year-over-year. Gross profit also decreased 29% to US$72.7 million, with a margin of 89.1%. The net loss narrowed to US$12.4 million compared to a loss of US$18.8 million in Q4 2020. Active users declined, with daily active users (DAUs) at 20.3 million, down 19% from last year. Despite challenges, the company expects Q2 2021 revenue around US$83 million, driven mainly by mobile games and online literature.

CooTek (Cayman) Inc. (NYSE: CTK) will release its unaudited financial results for Q1 2021 on June 3, 2021, before U.S. market opening. The earnings conference call is set for 8:00 AM ET on the same day. Participants are encouraged to dial in 15 minutes early. Post-conference, a replay will be available until June 10, 2021. CooTek is a mobile internet company focused on user-centric content delivered through applications, targeting online literature, scenario-based apps, and casual games.

CooTek (Cayman) Inc. (NYSE: CTK) announced its participation in upcoming virtual investor conferences, aiming to engage institutional investors. The company will present at the 16th Annual Needham Virtual Technology & Media Conference on May 18, 2021, from 8:00-8:40 AM ET, and the ICA Asia Pacific Opportunities Summit 2021 from June 21-29. CooTek focuses on mobile applications, offering products that cater to the diverse needs of mobile internet users. For more details, visit CooTek's investor relations.

CooTek (Cayman) Inc. (NYSE: CTK) announced that its casual game, Catwalk Beauty, reached #1 in the US iOS Games section on May 13, just three weeks post-launch. The game's success is attributed to CooTek's strong R&D capabilities and localized operations, enhancing user experience. The company aims to expand its game production and market share through strategic partnerships and investments in boutique games. This achievement signifies a positive trend for CooTek, as mobile games complement its other business segments, reflecting growth potential in the global market.

CooTek (Cayman) Inc. (NYSE: CTK) announced a strategic investment in Shanghai Lejiu Network Technology Co., Ltd., a mobile game studio. This investment aims to enhance cooperation with third-party partners in the mobile gaming sector and expand CooTek's pan-entertainment content ecosystem.

The collaboration is expected to leverage Lejiu's innovative approach to mobile game development, aiming to increase user engagement on CooTek's platforms. CooTek plans to focus on boutique mobile games, utilizing its extensive content library to attract gaming users and strengthen its market position.

CooTek (Cayman) Inc. (NYSE: CTK) announced filing its annual report on Form 20-F for the fiscal year ending December 31, 2020, with the SEC on April 26, 2021. The report includes audited consolidated financial statements, accessible on the Company's investor relations website and the SEC's site. CooTek is a rapidly growing mobile internet company focused on delivering content-rich applications, covering online literature, scenario-based content apps, and casual games. Shareholders can request a hard copy of the report through the Company's IR Department.

Argus Research has initiated equity research coverage on CooTek, Inc. (NYSE: CTK). The firm highlights CTK’s mobile internet content ecosystem, which leverages AI and big data to deliver substantial advertising revenue. CooTek has focused on expanding its user base, with expectations of moderating customer acquisition costs leading to profitability in 2022. As of December 31, 2020, CooTek held $49.6 million in cash. Despite recent stock price declines, Argus considers CTK's market cap of $125 million undervalued and estimates a fair value of $9 per ADS, indicating significant growth potential.