Revenues from Users Outside of China rises to 10% of total revenue
VANCOUVER, B.C., Feb. 8, 2021 /PRNewswire/ -- Hello Pal International Inc. ("Hello Pal" or the "Company") (CSE: HP) (Frankfurt: 27H) (OTC: HLLPF), a provider of rapidly growing international live-streaming, social messaging and language learning mobile apps, is pleased to announce that it achieved over $2,794,798 CAD (14,117,140 CNY) in revenue for the month of January 2021.
Hello Pal's livestreaming service achieved yet another significant milestone in revenue for the first month of 2021. Operating under a CAD/CNY exchange rate of 5.05 as of February 2, 2021, the Company earned record revenue of $2,795,000 CAD. This represents a 32% increase over the previous record high revenue in December 2020. Gross margin for the month was 13%.
The livestreaming service continues to be the main driving force providing a steady and growing source of revenues for the company. For 2020, Hello Pal has seen an average revenue of approximately $1,000,000 CAD. (see chart below).
The Company is also pleased to note that revenue from users outside of China now accounts for 10% of its total revenue, having increased from 6.5% the previous month, and 3% from November 2020. Gross margin is also 13% on this revenue.
"It's great to see another record month, but we are even more pleased to see our efforts in expanding into the overseas livestreaming markets starting to pay off," said KL Wong, Founder and Chairman of the Company.
User Base Performance
As of the date of the news release, Hello Pal's registered userbase is over 5.4 million users from over 200 countries and regions. The positive increase in registered users continues to be driven by our livestream service.
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].
About the Hello Pal Platform
The Hello Pal Platform is a proprietary suite of mobile applications built on a user-friendly messaging interface that focus on social interaction, language learning and travel. Hello Pal, has been designed from the ground up to be easy to use and enables users' the freedom to speak in their own language regardless of the other person's language they are speaking to. Hello Pal's overriding mission is to bring the world closer together through social interaction, language learning and travel. By creating a platform where it is easy to instantly interact with others around the world and giving them the tools to communicate with each other in a joyful and fun way, we hope to do our part (however small) in fostering understanding and tolerance between all citizens of the world.
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
SOURCE Hello Pal International Inc.