{"id":12680,"date":"2022-10-14T20:30:00","date_gmt":"2022-10-14T20:30:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3902586_CN02586_0"},"modified":"2022-10-14T20:30:00","modified_gmt":"2022-10-14T20:30:00","slug":"baosheng-media-group-holdings-limited-reports-financial-results-for-the-first-half-of-2022","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=12680","title":{"rendered":"Baosheng Media Group Holdings Limited Reports Financial Results for the First Half of 2022"},"content":{"rendered":"

BEIJING<\/span>, Oct. 15, 2022 \/PRNewswire\/ — Baosheng Media Group Holdings Limited (NASDAQ: BAOS) (“Baosheng” or the “Company”), a China<\/span>-based online marketing solution provider, today announced its financial results for the first half of 2022 ended June 30, 2022<\/span>.<\/span><\/p>\n

Ms. Shasha Mi, the Chief Executive Officer of the Company, commented, “First half of fiscal year 2022 proved to be more challenging than we expected. Our clients have reduced their advertising expenditure budget due to the resurgence of the COVID-19 pandemic<\/span>, and as a result, our business was under significant pressure during the first half of fiscal year 2022. We remained focused on exploring business opportunities, enhancing our precision marketing model, and improving our competitiveness by providing our customers with the best services. We continued to provide professional marketing solutions despite the challenging environment and our efforts have been recognized by the market. In the first half of 2022, we won multiple awards established by Alibaba, including 2022 Alibaba Super Huichuan Excellent Service Provider Award, Progress Award and Outstanding Growth Award, which demonstrates Alibaba’s high recognition of our service capabilities.”<\/p>\n

Ms. Mi added, “The COVID-19 pandemic has created opportunities for the development of the digital economy. The application of digital technology has accelerated the transformation and upgrade of traditional online shopping and food ordering platform, and also stimulated the development of new industries, ecosystems and business models, such as live streaming, remote working, remote learning and online workout.”<\/p>\n

Ms. Mi continued, “As we look to the remainder of fiscal year 2022, we expect to take the necessary initiatives to seize new opportunities in digital technology and explore business development opportunities in this new trend. We will continue cooperating with existing customers in the field of marketing, optimizing our own resource network, and improving our profitability. In addition, we intend to invest in innovative industries, improve our industrial chain, and further enhance our business resilience and competitive strengths. Leveraging our extensive experience and expertise in online marketing, we believe our capabilities and business foundation position us well to achieve our growth goals and create long-term value for our shareholders.”<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

Financial Highlights for the First Half of 2022<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n\n

For the Six Months Ended
June 30,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

2022<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

2021<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

%
Change<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Revenues<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

428,150<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

2,415,352<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

-82.3<\/span><\/p>\n<\/td>\n

\n

%<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Gross (loss) profit<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

(1,062,518)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

1,444,334<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

-173.6<\/span><\/p>\n<\/td>\n

\n

%<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Gross margin<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

-248.2<\/span><\/p>\n<\/td>\n

\n

%<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

59.8<\/span><\/p>\n<\/td>\n

\n

%<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

-515.0<\/span><\/p>\n<\/td>\n

\n

%<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Loss from operations<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

(6,536,807)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

(2,242,820)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

191.5<\/span><\/p>\n<\/td>\n

\n

%<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Net loss<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

(6,310,346)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

(271,671)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

2,222.8<\/span><\/p>\n<\/td>\n

\n

%<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Loss per share<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

(0.22)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

(0.01)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

2,100.0<\/span><\/p>\n<\/td>\n

\n

%<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n