Sound Group Inc. Announces the Appointment of Enrome as Independent Auditor
- Sound Group Inc. Announcement: Sound Group Inc., formerly known as LIZHI INC., appointed Enrome LLP as its independent registered public accounting firm for the fiscal year ended December 31, 2023.
- Transition from PwC: Enrome LLP succeeds PricewaterhouseCoopers Zhong Tian LLP (PwC) as the Company's previous independent registered public accounting firm.
- About Sound Group Inc.: The company is a global audio-centric social and entertainment company focused on building the world's largest audio platform to enhance human connection through sound.
- Safe Harbor Statement: The press release contains forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995, highlighting risks and uncertainties related to the company's operations and market conditions.
- Contact Information: For investor and media inquiries, individuals can contact Sound Group Inc.'s IR Department via email or reach out to Piacente Financial Communications representatives.
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Dow Jones Falls Over 250 Points as Financial Stocks Decline
- Market Decline: The Dow Jones index fell over 250 points after market opening on Monday, down 0.61% to 49,202.71, indicating investor concerns about economic outlook which may affect overall market confidence.
- Weakness in Financial Stocks: Financial stocks dipped by 1% during Monday's trading, reflecting a decline in market confidence in the financial sector, which could lead to capital outflows and increased market volatility.
- Envirotech Vehicles Surge: Envirotech Vehicles Inc saw its shares soar by 155% to $1.18, indicating strong market optimism about its growth potential, which may attract further investor interest.
- Atara Biotherapeutics Plummets: Atara Biotherapeutics Inc's shares dropped 54% to $6.24 after receiving an FDA Complete Response Letter citing concerns over clinical trial adequacy, potentially leading to significant financial and operational challenges for the company.
Sound Group Declares Cancellation of Acquired Shares
Share Repurchase Program Completion: Sound Group Inc. has successfully completed the cancellation of 951,252 American depositary shares (ADSs) under its US$4 million share repurchase program, enhancing earnings per share and reducing the number of outstanding shares.
Commitment to Shareholder Value: CEO Marco Lai emphasized the company's dedication to delivering shareholder value and confidence in its long-term growth prospects, while also announcing the completion of both the share repurchase and cash dividend programs.
Sound Group Boosts Rally with Special Dividend and Profit Increase Driving Momentum
Sound Group Inc. Financial Highlights
Special Cash Dividend Announcement: Sound Group Inc. declared a special cash dividend of $0.005 per ordinary share and $1.00 per American Depositary Share (ADS), with a total payout of $4 million. The dividend will be distributed to investors of record as of September 15, with payments scheduled for the end of the month.
Strong First-Half Results: For the first half of 2025, Sound Group reported revenue of 1.36 billion Chinese yuan ($189.5 million), marking a 47% increase from the previous year. The company achieved a net income of 67.6 million yuan ($9.4 million), a significant turnaround from a loss of 36.5 million yuan in the same period last year.
Profitability and Growth Metrics: Gross profit surged by 59% to 392.1 million yuan ($54.7 million), with gross margins improving to 29%. Operating income reached 63.2 million yuan ($8.8 million), compared to an operating loss of 44.3 million yuan in 2024. Non-GAAP net income also rose to 70.4 million yuan ($9.8 million).
Market Reaction and Stock Performance
Investor Confidence: The announcement of the dividend and the company's return to profitability boosted investor confidence, leading to a significant surge in share prices. On Thursday, shares of Sound Group experienced extreme volatility, initially rising by 196.58% before being halted, and later reaching a peak gain of 224.74%.
Current Stock Price: As of the latest update, Sound Group shares were trading at $12.75, reflecting a 2.00% increase.
Company Leadership Insights
CEO's Statement: Founder and CEO Jinnan (Marco) Lai emphasized that the dividend reflects the company's financial strength and its strategy to balance growth with shareholder returns.
CFO's Remarks: Acting CFO Chengfang Lu highlighted that the dividend and a $4 million buyback demonstrate the scalability of the business while ensuring resources for future investments.
Autodesk Shares Rise 10%; Check Out 20 Stocks Making Moves in Premarket Trading
Autodesk Financial Results
- Strong Q2 Performance: Autodesk, Inc. reported better-than-expected second-quarter financial results, leading to a significant rise in its stock price.
- Revised Guidance: The company increased its full-year revenue guidance from $6.92-$7 billion to $7.03-$7.08 billion, surpassing estimates of $6.97 billion. Adjusted earnings per share (EPS) guidance was also raised from $9.50-$9.73 to $9.80-$9.98, compared to estimates of $9.66.
Stock Movements in Pre-Market Trading
Gainers:
- Gamehaus Holdings Inc. surged 76.1% to $1.99 after announcing a $5 million share repurchase program.
- Movano Inc. saw a 63.2% increase to $0.9959 following a Nasdaq compliance extension.
- SMX (Security Matters) Public Limited Company rose 57% to $2.73 after recovering from a previous dip.
- Sound Group Inc. gained 18.4% to $14.80, following a 229% jump on Thursday and the announcement of a special cash dividend.
- Ambarella, Inc. increased by 18% to $83.33 after reporting strong Q2 results and positive guidance for Q3.
Losers:
- CaliberCos Inc. fell 25.8% to $3.32 after a significant rise the previous day.
- Offerpad Solutions Inc. dropped 24.2% to $4.72 after a substantial gain.
- TNF Pharmaceuticals, Inc. declined 18.1% to $0.0504 following a reverse stock split announcement.
- Marvell Technology, Inc. decreased by 14.7% to $65.87 after issuing lower-than-expected sales guidance for Q3.
Market Sentiment
- Investor Confidence: The S&P 500 index settled over 6,500, indicating improved investor sentiment, while the Fear Index remains in the 'Greed' zone, suggesting a bullish outlook among investors.
Nasdaq Rises by 100 Points as Dollar General Exceeds Earnings Expectations
U.S. Stock Market Performance: U.S. stocks saw gains, with the Nasdaq Composite rising over 100 points; the Dow increased by 0.11%, and the S&P 500 rose by 0.24%.
Sector Movements: Communication services stocks jumped by 1%, while health care stocks fell by 0.6% on Thursday.
Corporate Earnings Highlights: Dollar General reported better-than-expected second-quarter results, while Sound Group Inc. shares surged 161% after announcing a special cash dividend.
Economic Indicators: U.S. pending home sales declined by 0.4%, initial jobless claims decreased to 229,000, and the economy expanded at an annual rate of 3.3% in Q2.
Sound Group (SOGP) Shares Soar Following Profitability Return and Special Dividend Announcement
Financial Performance: Sound Group Inc reported a 47% increase in net revenues to RMB1,357.7 million ($189.5 million) for the first half of 2025, alongside a turnaround in profitability with a net income of RMB67.6 million ($9.4 million).
Dividend Announcement: The company declared a special cash dividend of $0.005 per share, totaling approximately $4 million, which will be paid to shareholders on September 30.
Stock Price Surge: Following the financial results announcement, SOGP shares surged by 108% to $7.90, marking a significant increase from its 52-week low of $1.18.
Investment Options: Investors can purchase SOGP stock through brokerage platforms or ETFs that include the stock, providing exposure to the Communication Services sector.
Dow Jones Falls Over 250 Points as Financial Stocks Decline
- Market Decline: The Dow Jones index fell over 250 points after market opening on Monday, down 0.61% to 49,202.71, indicating investor concerns about economic outlook which may affect overall market confidence.
- Weakness in Financial Stocks: Financial stocks dipped by 1% during Monday's trading, reflecting a decline in market confidence in the financial sector, which could lead to capital outflows and increased market volatility.
- Envirotech Vehicles Surge: Envirotech Vehicles Inc saw its shares soar by 155% to $1.18, indicating strong market optimism about its growth potential, which may attract further investor interest.
- Atara Biotherapeutics Plummets: Atara Biotherapeutics Inc's shares dropped 54% to $6.24 after receiving an FDA Complete Response Letter citing concerns over clinical trial adequacy, potentially leading to significant financial and operational challenges for the company.
Sound Group Declares Cancellation of Acquired Shares
Share Repurchase Program Completion: Sound Group Inc. has successfully completed the cancellation of 951,252 American depositary shares (ADSs) under its US$4 million share repurchase program, enhancing earnings per share and reducing the number of outstanding shares.
Commitment to Shareholder Value: CEO Marco Lai emphasized the company's dedication to delivering shareholder value and confidence in its long-term growth prospects, while also announcing the completion of both the share repurchase and cash dividend programs.
Sound Group Boosts Rally with Special Dividend and Profit Increase Driving Momentum
Sound Group Inc. Financial Highlights
Special Cash Dividend Announcement: Sound Group Inc. declared a special cash dividend of $0.005 per ordinary share and $1.00 per American Depositary Share (ADS), with a total payout of $4 million. The dividend will be distributed to investors of record as of September 15, with payments scheduled for the end of the month.
Strong First-Half Results: For the first half of 2025, Sound Group reported revenue of 1.36 billion Chinese yuan ($189.5 million), marking a 47% increase from the previous year. The company achieved a net income of 67.6 million yuan ($9.4 million), a significant turnaround from a loss of 36.5 million yuan in the same period last year.
Profitability and Growth Metrics: Gross profit surged by 59% to 392.1 million yuan ($54.7 million), with gross margins improving to 29%. Operating income reached 63.2 million yuan ($8.8 million), compared to an operating loss of 44.3 million yuan in 2024. Non-GAAP net income also rose to 70.4 million yuan ($9.8 million).
Market Reaction and Stock Performance
Investor Confidence: The announcement of the dividend and the company's return to profitability boosted investor confidence, leading to a significant surge in share prices. On Thursday, shares of Sound Group experienced extreme volatility, initially rising by 196.58% before being halted, and later reaching a peak gain of 224.74%.
Current Stock Price: As of the latest update, Sound Group shares were trading at $12.75, reflecting a 2.00% increase.
Company Leadership Insights
CEO's Statement: Founder and CEO Jinnan (Marco) Lai emphasized that the dividend reflects the company's financial strength and its strategy to balance growth with shareholder returns.
CFO's Remarks: Acting CFO Chengfang Lu highlighted that the dividend and a $4 million buyback demonstrate the scalability of the business while ensuring resources for future investments.
Autodesk Shares Rise 10%; Check Out 20 Stocks Making Moves in Premarket Trading
Autodesk Financial Results
- Strong Q2 Performance: Autodesk, Inc. reported better-than-expected second-quarter financial results, leading to a significant rise in its stock price.
- Revised Guidance: The company increased its full-year revenue guidance from $6.92-$7 billion to $7.03-$7.08 billion, surpassing estimates of $6.97 billion. Adjusted earnings per share (EPS) guidance was also raised from $9.50-$9.73 to $9.80-$9.98, compared to estimates of $9.66.
Stock Movements in Pre-Market Trading
Gainers:
- Gamehaus Holdings Inc. surged 76.1% to $1.99 after announcing a $5 million share repurchase program.
- Movano Inc. saw a 63.2% increase to $0.9959 following a Nasdaq compliance extension.
- SMX (Security Matters) Public Limited Company rose 57% to $2.73 after recovering from a previous dip.
- Sound Group Inc. gained 18.4% to $14.80, following a 229% jump on Thursday and the announcement of a special cash dividend.
- Ambarella, Inc. increased by 18% to $83.33 after reporting strong Q2 results and positive guidance for Q3.
Losers:
- CaliberCos Inc. fell 25.8% to $3.32 after a significant rise the previous day.
- Offerpad Solutions Inc. dropped 24.2% to $4.72 after a substantial gain.
- TNF Pharmaceuticals, Inc. declined 18.1% to $0.0504 following a reverse stock split announcement.
- Marvell Technology, Inc. decreased by 14.7% to $65.87 after issuing lower-than-expected sales guidance for Q3.
Market Sentiment
- Investor Confidence: The S&P 500 index settled over 6,500, indicating improved investor sentiment, while the Fear Index remains in the 'Greed' zone, suggesting a bullish outlook among investors.
Nasdaq Rises by 100 Points as Dollar General Exceeds Earnings Expectations
U.S. Stock Market Performance: U.S. stocks saw gains, with the Nasdaq Composite rising over 100 points; the Dow increased by 0.11%, and the S&P 500 rose by 0.24%.
Sector Movements: Communication services stocks jumped by 1%, while health care stocks fell by 0.6% on Thursday.
Corporate Earnings Highlights: Dollar General reported better-than-expected second-quarter results, while Sound Group Inc. shares surged 161% after announcing a special cash dividend.
Economic Indicators: U.S. pending home sales declined by 0.4%, initial jobless claims decreased to 229,000, and the economy expanded at an annual rate of 3.3% in Q2.
Sound Group (SOGP) Shares Soar Following Profitability Return and Special Dividend Announcement
Financial Performance: Sound Group Inc reported a 47% increase in net revenues to RMB1,357.7 million ($189.5 million) for the first half of 2025, alongside a turnaround in profitability with a net income of RMB67.6 million ($9.4 million).
Dividend Announcement: The company declared a special cash dividend of $0.005 per share, totaling approximately $4 million, which will be paid to shareholders on September 30.
Stock Price Surge: Following the financial results announcement, SOGP shares surged by 108% to $7.90, marking a significant increase from its 52-week low of $1.18.
Investment Options: Investors can purchase SOGP stock through brokerage platforms or ETFs that include the stock, providing exposure to the Communication Services sector.
