SOS Ltd Files 20-F Annual Report for Fiscal Year Ended December 31, 2023

TL;DR

<b>SOS Ltd has filed its 2023 annual report on Form 20-F, detailing its financial standing and share structure.</b>

AI Summary

SOS Ltd (SOS) filed a Foreign Annual Report (20-F) with the SEC on May 15, 2024. SOS Ltd filed its annual report on Form 20-F for the fiscal year ended December 31, 2023. The report details the company's financial performance and business operations. As of December 31, 2023, SOS Ltd had 121,992,169 Class A ordinary shares outstanding. The company also had 13,971,251 Class B ordinary shares outstanding. SOS Ltd's American depositary shares trade on the New York Stock Exchange under the symbol 'SOS'.

Why It Matters

For investors and stakeholders tracking SOS Ltd, this filing contains several important signals. This filing provides investors with a comprehensive overview of SOS Ltd's financial health and operational status for the past fiscal year. The disclosure of outstanding share counts is crucial for understanding potential dilution and the company's capital structure.

Risk Assessment

Risk Level: low — SOS Ltd shows low risk based on this filing. The filing is a standard annual report (20-F) and does not contain immediate red flags, indicating a routine disclosure process.

Analyst Insight

Investors should review the full 20-F filing to understand SOS Ltd's financial performance, risks, and strategic outlook for 2024.

Key Numbers

• 2023-12-31 — Fiscal Year End (Report period)
• 2024-05-15 — Filing Date (Date of submission)
• 121,992,169 — Class A Ordinary Shares Outstanding (As of December 31, 2023)
• 13,971,251 — Class B Ordinary Shares Outstanding (As of December 31, 2023)

Key Players & Entities

• SOS Ltd (company) — Registrant
• 20-F (document) — Form type
• December 31, 2023 (date) — Fiscal year end
• May 15, 2024 (date) — Filing date
• New York Stock Exchange (company) — Exchange where ADS are listed
• SOS (ticker) — Trading symbol for ADS
• 121,992,169 (dollar_amount) — Class A ordinary shares outstanding
• 13,971,251 (dollar_amount) — Class B ordinary shares outstanding

FAQ

Industry Context

SOS Ltd operates within the finance services sector, as indicated by its SIC code 6199.

Regulatory Implications

The filing is a Form 20-F, which is an annual report required by the SEC for foreign private issuers.

What Investors Should Do

1. Review the full 20-F document for detailed financial statements and management discussion.
2. Analyze the outstanding share counts to understand the company's equity structure.
3. Monitor future filings for updates on operational performance and financial results.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 20-F filing.
• 2024-05-15: Filing Date — Date the 20-F annual report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial filing of the 20-F for the fiscal year 2023, following the previous year's reporting cycle.

Key Financial Figures

• $0.005 — 10 Class A ordinary share, par value US$0.005 per share SOS New York Stock Exchange
• $ — o the legal currency of China; and "US$," "U.S. dollars," "
  quot; and "dollars" ref
• $0.0001 — lasses of ordinary shares, par value of $0.0001 each, at a ratio of one-for-fifty such
• $1,200,000 — d share capital of the Company became US$1,200,000 divided into 240,000,000 ordinary share
• $600,000 — mpany's authorized share capital from US$600,000 divided into 120,000,000 shares of a pa

Filing Documents

• ea0203876-20f_sosltd.htm (20-F) — 6239KB
• ea020387601ex2-13_sosltd.htm (EX-2.13) — 175KB
• ea020387601ex12-1_sosltd.htm (EX-12.1) — 10KB
• ea020387601ex12-2_sosltd.htm (EX-12.2) — 11KB
• ea020387601ex13-1_sosltd.htm (EX-13.1) — 4KB
• ea020387601ex15-1_sosltd.htm (EX-15.1) — 2KB
• ea020387601ex97-1_sosltd.htm (EX-97.1) — 37KB
• image_001.jpg (GRAPHIC) — 89KB
• 0001213900-24-043545.txt (&nbsp;) — 24829KB
• sos-20231231.xsd (EX-101.SCH) — 102KB
• sos-20231231_cal.xml (EX-101.CAL) — 49KB
• sos-20231231_def.xml (EX-101.DEF) — 392KB
• sos-20231231_lab.xml (EX-101.LAB) — 827KB
• sos-20231231_pre.xml (EX-101.PRE) — 416KB
• ea0203876-20f_sosltd_htm.xml (XML) — 6828KB

Item

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No TABLE OF CONTENTS INTRODUCTION ii

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS iii PART I 1 ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 3 ITEM 2. OFFER STATISTICS AND EXPECTED TIME TABLE 3 ITEM 3. KEY INFORMATION 3 ITEM 4. INFORMATION ON THE COMPANY 42 ITEM 4A. UNRESOLVED STAFF COMMENTS 53 ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 53 ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 67 ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 74 ITEM 8. FINANCIAL INFORMATION 76 ITEM 9. THE OFFER AND LISTING 77 ITEM 10. ADDITIONAL INFORMATION 77 ITEM 11.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 92 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 93 PART II 95 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 95 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 95 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 95 ITEM 16. [RESERVED] 97 ITEM 16A. Audit Committee Financial Expert 97 ITEM 16B. Code of Ethics 97 ITEM 16C. Principal Accountant Fees and Services 97 ITEM 16D. Exemptions From the Listing Standards for Audit Committees 98 ITEM 16E. Purchase of Equity Securities by the Issuer and Affiliated Purchasers 98 ITEM 16F. Change in Registrant's Certifying Accountant 98 ITEM 16G. Corporate Governance 98 ITEM 16H. Mine Safety Disclosure 98 ITEM 16I Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 98 PART III 99 ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 99 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 99 ITEM 19. EXHIBITS 100 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS i INTRODUCTION Unless otherwise indicated or the context otherwise requires in this annual report: "ADSs" refers to our American depositary shares, each of which represents 10 Class A ordinary share; "China" or the "PRC" refers to the People's Republic of China, including Hong Kong Special Administrative Region and the Macau Special Administrative Region, unless referencing specific laws and regulations adopted by the PRC and other legal and tax matters only applicable to mainland China, and excluding, for the purposes of this annual report only, Taiwan; "Class A ordinary shares" refers to Class A ordinary shares, par value US$0.005 per share of SOS Limited; "Class B ordinary shares" refers to Class B ordinary shares, par value US$0.005 per share of SOS Limited; "we," "us," "our company" and "our" refer to SOS Limited, and its consolidated subsidiaries. "investors" refers to lenders of capital on our marketplace, unless the context indicates otherwise; "NYSE" refers to the New York Stock Exchange; "RMB" and "Renminbi" refer to the legal currency of China; and "US$," "U.S. dollars," "

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This annual report on Form 20-F contains forward-looking statements that reflect our current expectations and views of future events. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements include, but are not limited to: our goals and strategies; our future business development, financial condition and results of operations; the expected growth of the marketing data and cryptocurrency mining industry in China; our expectations regarding demand for and market acceptance of our services; our plans to invest in our business; competition in our industry; and relevant government policies and regulations relating to our industry. We would like to caution you not to place undue reliance on these forward-looking statements and you should read these statements in conjunction with the risk factors disclosed in "Item 3. Key Information—D. Key Information—Risk Factors." Those risks are not exhaustive. We operate in an evolving environment. New risks emerge from time to time and it is impossible for our management to predict all risk factors, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking statement. We do not undertake any obligation to update or revise the forward-looking statements except as required und

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable.

OFFER STATISTICS AND EXPECTED TIME

ITEM 2. OFFER STATISTICS AND EXPECTED TIME TABLE Not applicable.

KEY INFORMATION

ITEM 3. KEY INFORMATION Enforceability of Civil Liability We are an exempted company limited by shares incorporated under the laws of Cayman Islands. We conduct substantially all our operations in terms of revenue in China and substantially all our assets are located in China. In addition, a majority of our directors and executive officers reside within China, and most of the assets of these persons are located within mainland China. Only one of our directors and executive officers resides in Hong Kong, and his assets are substantially all located outside Hong Kong. As a result, it may be difficult or impossible for you to effect service of process within the United States upon these individuals, or to bring an action against us or against these individuals in the United States in the event that you believe your rights have been infringed under the U.S. federal securities laws or otherwise. Even if you are successful in bringing an action of this kind, the laws of Cayman Islands and of the PRC may render you unable to enforce a judgment against our assets or the assets of our directors and officers. There is no statutory enforcement in the Cayman Islands of judgments obtained in the federal or state courts of the United States (and the Cayman Islands are not a party to any treaties for the reciprocal enforcement or recognition of such judgments), however, the courts of the Cayman Islands will, at common law, recognize and enforce a foreign money judgment of a foreign court of competent jurisdiction without any re-examination of the merits of the underlying dispute based on the principle that a judgment of a competent foreign court imposes upon the judgment debtor an obligation to pay the liquidated sum for which such judgment has been given, provided such judgment (a) is given by a foreign court of competent jurisdiction, (b) imposes on the judgment debtor a liability to pay a liquidated sum for which the judgment has been given, (c) is final, (d) is not in resp

View Full Filing

View this 20-F filing on SEC EDGAR