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On September 14, 2022, Qutoutiao Inc. announced receipt of a notification from Nasdaq indicating it no longer meets the minimum Market Value of Publicly Held Shares (MVPHS) requirement of $15 million for continued listing. This deficiency stems from the MVPHS being below the threshold for 30 consecutive business days. Qutoutiao has a 180-day compliance grace period, until March 13, 2023, to rectify this. Failure to regain compliance may lead to delisting. The company is exploring options to maintain its Nasdaq listing, including potential transfer to Nasdaq Capital Market.
Qutoutiao Inc. (NASDAQ: QTT) announced the filing of its annual report on Form 20-F for the fiscal year ending December 31, 2021, with the SEC on May 2, 2022. The report includes audited consolidated financial statements, which shareholders can request at no charge from the company's investor relations. Qutoutiao operates a mobile content platform in China, delivering personalized content through AI algorithms. Its main app offers users engaging content, focusing on those from lower-tier cities, while also maintaining a strong position in the free online literature sector.
Qutoutiao Inc. (NASDAQ: QTT) reported fourth quarter 2021 net revenues of RMB881.1 million (US$138.3 million), down 32.3% year-over-year. The company posted a net loss of RMB298.0 million (US$46.8 million), contrasting with a net loss of RMB81.8 million in Q4 2020. Average MAUs fell to 97.6 million, a 21.7% decline from the previous year. Advertising revenues dropped 33.8%, attributed to regulatory pressures impacting advertiser budgets. Cost reductions led to a gross margin of 77.4%. However, the significant net loss and negative working capital raise concerns about Qutoutiao's future viability.
Qutoutiao Inc. (NASDAQ: QTT) reported its Q3 2021 financial results, showing a 14.6% decline in net revenues to RMB965.5 million (US$149.8 million) compared to Q3 2020. The net loss rose to RMB583.6 million (US$90.6 million), marking a substantial increase from RMB269.4 million in the prior year. Average Daily Active Users (DAUs) fell 33.2% year-over-year to 26.5 million. Despite a gross profit of RMB696.9 million, the gross margin improved to 72.2%. The company anticipates Q4 revenues between RMB850 million to RMB900 million.
Qutoutiao Inc. (NASDAQ: QTT) has announced it will disclose its unaudited financial results for Q3 2021 on December 21, 2021, before US markets open. The management will host an earnings call at 8:00 AM ET on the same day, with preregistration required. Participants must register at least 15 minutes prior to the call. A replay of the conference will be available for a week after the call. Qutoutiao operates mobile content platforms in China, leveraging AI to deliver tailored content.
Qutoutiao Inc. (NASDAQ: QTT) announced a change in the ratio of its American Depositary Shares (ADSs) from 4 ADSs to 1 Class A ordinary share to 2 ADSs to 5 shares, effective around December 10, 2021. This alteration equates to a one-for-ten reverse ADS split. Current ADS holders must exchange ten existing ADSs for one new ADS. The Bank of New York Mellon will manage this exchange. While the company anticipates a proportional increase in the ADS trading price, it cannot guarantee that it will rise tenfold post-change.
Qutoutiao Inc. (NASDAQ: QTT) reported second quarter 2021 results with net revenues of RMB1,202 million (US$186.2 million), a decline of 16.6% year-over-year and 6.9% quarter-over-quarter. The company posted a net loss of RMB209.5 million (US$32.4 million), slightly down from RMB222.1 million the prior year. Monthly Active Users (MAUs) averaged 132.3 million, down 3.1%, while Daily Active Users (DAUs) decreased 32.3% to 29.1 million. Looking ahead, Qutoutiao expects third quarter revenues to be between RMB1,050 million and RMB1,100 million.
Qutoutiao Inc. (NASDAQ: QTT) is set to announce its unaudited financial results for the second quarter of 2021, ending June 30, 2021, on September 7, 2021, before US markets open. A conference call will be held at 8:00 A.M. ET, where management will discuss the results. Participants can register in advance for the call and access a live and archived webcast on the company's investor relations website. The replay of the call will be available until September 22, 2021. Qutoutiao is a leading mobile content platform operator in China, offering AI-driven personalized content.
Qutoutiao Inc. (NASDAQ: QTT) reported its first-quarter 2021 unaudited financial results, revealing a net revenue decline of 8.6% year-over-year to RMB1,291.0 million (US$197.0 million). The company incurred a net loss of RMB149.0 million (US$22.7 million), significantly reduced from RMB531.8 million in Q1 2020. Average daily active users (DAUs) fell 30.6% to 31.7 million, while overall cash and short-term investments rose to RMB1,105.8 million. Looking ahead, Qutoutiao expects Q2 2021 revenues between RMB1,150 to RMB1,200 million.
Qutoutiao Inc. (NASDAQ: QTT) will announce its Q1 2021 financial results on June 1, 2021, before U.S. markets open. An earnings call is scheduled for 8:00 A.M. ET, which will be accessible via registration. Qutoutiao operates mobile content platforms in China, utilizing AI algorithms to personalize user experiences. The company aims to innovate and enhance its offerings in the online content ecosystem. For those unable to attend live, a replay will be available until June 9, 2021.
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