Hello Pal International Inc. (CSE: HP) announced today record revenue for the month of January 2021.
The company’s livestreaming service was the main driving force behind the boost in revenue. 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 provide 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.
The Company also noted 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.
Founder and Chairman of the company, KL Wong had this to say “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”.
Shares of Hello Pal were trading up 10 percent at 33 cents.
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