Non-China revenue rises to 20%
Vancouver, BC based Hello Pal International Inc. (CSE: HP) ( Frankfurt : 27H) (OTCQB: HLLPF), a provider of rapidly growing international live-streaming, language learning and social-crypto platform, announced today that it achieved 12,518,000 CNY ($2,412,000 CAD) in revenue for the month of March 2021 , an increase of around 800,000 CNY from the previous month.
Operating under a CAD/CNY exchange rate of 5.19 as of April 7, 2021 , the monthly revenue of $2,412,000 CAD is the fourth successive month above $2 million that the Company has achieved. Gross margin for the period was 15%.
Non- China revenue has been progressing steadily, with non- China revenue now accounting for 20% of its total revenue, having increased from 16% the previous month. Additionally, the number of non- China livestreaming minutes is now double that of China , the daily non- China hosts is now triple that of China , and significantly, the number of paying users from non- China countries has also exceeded that of China.
"We are pleased to be able to continue our growth in revenue and as the data suggests, our efforts in the overseas livestreaming markets are slowly bearing fruit," said KL Wong, Founder and Chairman of the Company.
To download Hello Pal, Language Pal, Travel Pal or the proprietary Phrasebooks please visit the IOS or Android store. For information with respect to the Company or the contents of this news release, please contact the Company at (604) 683-0911 or visit the website at hellopal.com. Email inquiries can be directed to: [email protected].
Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions, and expectations; they are not guarantees of future performance. Hello Pal cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Hello Pal's control. Such risks and uncertainties are described in Hello Pal's annual and interim financial statements available on www.sedar.com . Although Hello Pal is currently generating revenues, Hello Pal remains in the growth stage and such revenues are yet to be profitable. Accordingly, actual, and future events, conditions and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Hello Pal undertakes no obligation to publicly update or revise forward-looking information.
THE CSE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
Hello Pal International
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