Sentage Holdings Inc. (NASDAQ: SNTG) stock gained by 5.84% at last close while the SNTG stock price shines during pre-market by 4.14%. Sentage Holdings is a financial services company based in Shanghai, China. It provides a wide variety of financial services.
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SNTG stock’ Financial Highlights
Sentage Holdings released financial results for the first half of the fiscal year 2021, which concluded on June 30, 2021. The following is a list of such financial outcomes.
- Total operational revenue was $1.32 million in the six months ending June 30, 2021, down from $1.73 million in the first six months of the fiscal year 2020, a decline of 24.0 percent. The fall is mostly due to a reduction in the number of outstanding service agreements in the consumer loan repayment and collection management business, which is offset by increasing income from the loan recommendation and prepaid payment network services businesses.
- In the six months ended June 30, 2021, net income was $0.45 million, opposed to $0.73 million the previous year.
- In the six months ended June 30, 2021, basic and diluted profits per share were $0.04, opposed to $0.07 the previous year.
Impact of COVID
The current COVID-19 epidemic has had and is likely to have an impact on their business operations. COVID-19 had a transitory effect on the operating results and financial results in the fiscal year 2020 and the six months ending June 30, 2021. However, the revival of COVID-19, as well as the ongoing uncertainty surrounding it, may have a damaging effect on future revenue and cash flows. Economic downturns and other substantial shifts in regional and global economic conditions might result from a COVID-19 comeback. The COVID-19 may also wreak havoc on the real estate market in Shanghai as well as the first cities they’re targeting. It will also reduce the overall loan amount borrowers may get through our services, lowering their service fees, which are dependent on the precise loan amount in each case, and negatively harming our loan recommendation business income.