Baosheng Media Group Limited is a China-based marketing technology company that offers value-added services. The stock price of BAOS soars 105.095% after-hours pre-market trading today on November 2, 2021. It’s trading at $3.17. Revenue for the first half ended June 2021, decreased by 75.4% from the same period in the previous year.
The decrease was mainly due to the decrease in gross profit. In the first half of 2021, the company’s loss per share was $0.01. As of June 2021, the company had cash and cash equivalents of $12.1 million.
Wenxiu Zhong, the Chief Executive Officer of BAOS, noted that their business was under pressure in the first half of 2021. Due to the rising cases of COVID-19, they implemented strict preventive measures. Due to the decline in consumption of their clients in various industries, BAOS has focused on its core competencies and strategies to minimize its financial exposure.
The company will then carry out a study to analyze the current business environment. It will then take the necessary steps to respond to this environment in the most effective manner. The company’s strategy will be focused on developing content innovation, improving collaboration, and developing new business models. Baosheng Media Group is a leading online marketing company in China. It connects advertisers and media agencies to help them manage their marketing activities online. The company also offers ad inventory and various other services.