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Sound Group Inc. (Nasdaq: SOGP) is a dynamic and innovative global audio-centric social and entertainment company. With a diverse and inclusive team drawn from various countries, Sound Group leverages its broad product portfolio and advanced in-house technologies to cater to the growing global interest in audio entertainment and social networking.
Founded with a mission to build the world's largest audio platform, Sound Group Inc. aims to enhance human connection through the power of sound. The company’s offerings include a wide array of audio services that promote social interaction and entertainment. Since its listing on Nasdaq in January 2020, Sound Group has continually advanced its vision of fostering deeper connections through audio.
Recent achievements include the pioneering application of AI in audio dialogue, a move that underscores Sound Group's commitment to staying at the forefront of technological innovation. The company’s forward-looking approach is evident in its continuous efforts to integrate AI into its platforms, making audio interactions more intelligent and engaging.
Financially, Sound Group is focused on growing its user base, particularly its active and paying users, as it navigates through the ever-evolving online audio market. The company is attentive to the fluctuations in global economic conditions and adapts its strategies accordingly to maintain steady growth and profitability.
Sound Group Inc. is dedicated to safe and responsible business practices, adhering to various laws, regulations, and guidelines to ensure compliance and sustainability. The company regularly communicates with its shareholders and the public, providing updates on its business operations, financial conditions, and future strategies.
For more information, please visit Sound Group Inc. Investor Relations.
Sound Group Inc. (NASDAQ: SOGP) reported its unaudited financial results for H1 2024. Net revenues decreased to RMB924.0 million (US$127.1 million) from RMB1,223.8 million in H1 2023. The company recorded a net loss of RMB36.5 million (US$5.0 million), compared to a net income of RMB59.9 million in the same period last year.
Average mobile MAUs declined to 35.7 million from 47.6 million year-over-year. Gross margin decreased to 27% from 30%. The company continued its share repurchase program, having repurchased shares worth US$1.4 million out of the authorized US$3.0 million. As of June 30, 2024, SOGP had cash and cash equivalents of RMB464.9 million (US$64.0 million).
Sound Group (NASDAQ: SOGP) has successfully regained compliance with Nasdaq's periodic filing requirement under Listing Rule 5250(c)(1), as confirmed by Nasdaq on November 1, 2024. The notification marks the closure of this compliance matter, ensuring the company's continued listing on the Nasdaq Stock Market.
Sound Group Inc. (NASDAQ: SOGP), a global audio-centric social and entertainment company previously known as LIZHI INC., has announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2023. The report was filed with the SEC on October 31, 2024. The annual report, containing audited consolidated statements, is accessible on both the SEC's website and the Company's investor relations website. The Company offers to provide shareholders and ADS holders with free hard copies of the annual report upon request.
Sound Group, formerly known as LIZHI, has appointed Enrome as its independent registered public accounting firm for the fiscal year ending December 31, 2023. This decision, effective July 9, 2024, follows approval by the Company's audit committee. Enrome succeeds PricewaterhouseCoopers Zhong Tian, who will collaborate with Sound Group and Enrome to ensure a smooth transition.
Sound Group is a NASDAQ-listed (SOGP) global audio-centric social and entertainment company based in Singapore.
Sound Group (NASDAQ: SOGP) announced on May 21, 2024, that it received a notice from NASDAQ regarding non-compliance with listing rules due to late filing of its annual report on Form 20-F for the fiscal year ending December 31, 2023. The company has 60 days from the notice date (May 17, 2024) to submit a compliance plan. If accepted, NASDAQ may grant an extension until November 11, 2024. The notice does not immediately affect the company's NASDAQ listing. This disclosure follows NASDAQ's rule requiring prompt notification of deficiencies.
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