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Sentage Holdings Inc. Announces Financial Results for the First Six Months of Fiscal Year 2024

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SHANGHAI, Dec. 17, 2024 /PRNewswire/ — Sentage Holdings Inc. (the “Company”, “we”, “our”) (Nasdaq: SNTG), is a holding company incorporated in the Cayman Islands with no material operations of its own. Through its China-based operating entities, the Company offers consumer loan repayment and collection management, loan recommendation, and prepaid payment network services in China. The Company today announced its financial results for the first six months of fiscal year 2024 ended June 30, 2024. The following summarizes such financial results.

Financial Highlights for the First Six Months of Fiscal Year 2024  

Total operating revenue was $nil in the six months ended June 30, 2024, compared with $82 for the same period of last year, representing a 100% decrease. The reason for the decrease in revenue was that the Company’s existing business had declined while the Company attempting to enter into new businesses. the company has been adjusting and improving its products and services to enhance its competitiveness. These improvements require more time to be completed.

 Net loss was $1.12 million in the six months ended June 30, 2024, compared with net loss of $1.08 million for the same period of last year.

Basic and diluted loss per share was $0.47 in the six months ended June 30, 2024, compared with basic and diluted loss per share of $0.46 for the same period of last year.

Financial Results for the First Six Months of Fiscal Year 2024

Operating Expenses

Selling, general and administrative expenses increased by $43,366, or 4%, to $1,123,711 in the six months ended June 30, 2024, from $1,080,345 for the same period of last year. The increase was due to the following reasons:

Professionals consulting expenses increased by $122,525 or 30% to $ 534,675 in the six months ended June 30, 2024, from $412,151 for the same period of last year. The increase was primarily due to the company paying more for consulting services to third party professionals.

Provision for Income Taxes

Provision for income taxes was nil for the six months ended 30 June 2024, compared with nil for the same period last year.

Net Loss

Net loss was $1.12 million in the six months ended June 30, 2024, compared with net loss of $1.08 million for the same period of last year.

Loss Per Share

Basic and diluted loss per share was $0.47 in the six months ended June 30, 2024, compared with basic and diluted loss per share of $0.46 for the same period of last year.

Cash and Cash Equivalents

As of June 30, 2024, the Company had cash and restricted cash of $1.61million, compared with $2.26 million as of December 31, 2023.

Cash Flow

Net cash used in operating activities was $1.09 million, compared with Net cash used in operating activities of $1.01 million for the same period of last year.

Net cash used in investing activities was $nil, compared with Net cash used in investing activities of $537, for the same period of last year.

Net cash provided by/ (used in) financing activity was $0.43 million, compared with Net cash used in financing activity of $(4,709) for the same period of last year.

About Sentage Holdings Inc.

Sentage Holdings Inc., headquartered in Shanghai, China, is a holding company incorporated in the Cayman Islands with no material operations of its own (the “Company”). Through its China-based operating entities, the Company offers consumer loan repayment and collection management, loan recommendation, and prepaid payment network services in China. Leveraging the Company’s deep understanding of its client base, strategic partner relationships, and proprietary valuation models and technologies, the Company is committed to working with its clients to understand their financial needs and challenges and offering customized services to help them meet their respective objectives. For more information, please visit the company’s website at ir.sentageholdings.com.

Forward-Looking Statement

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review risk factors that may affect its future results in the Company’s registration statement.

For more information, please contact:

Sentage Holdings Inc.

Investor Relations Department
Email: ir@sentageholdings.com

Ascent Investor Relations LLC

Tina Xiao President
Tel: +1-646-932-7242
Email: investors@ascent-ir.com

 

SENTAGE HOLDINGS INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

As of
December 31,
2023

As of
June  30,
2024

USD

USD

ASSETS

Current assets

Cash and cash equivalents

$

2,262,881

$

1,615,725

Restricted cash

26,127

21,101

Accounts receivable, net

284,628

132,049

Prepaid expenses and other current assets

9,118,909

6,720,283

Total current assets

11,692,545

8,489,158

Non-current assets

Right-of-use assets, net

72,939

29,133

Plant and equipment, net

64,472

57,395

Intangible assets, net

66,859

58,702

Long-term investments

1,000,000

3,500,000

Deferred tax assets

12,324

12,040

Total non-current assets

1,216,594

3,657,270

Total assets

$

12,909,139

$

12,146,428

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities

Accounts payable

$

5,985

$

5,847

Lease liabilities

72,230

23,802

Accrued expenses and other current liabilities

256,795

237,490

Total current liabilities

335,010

267,139

Non-current liability

Due to a related party, non-current

344,235

782,364

Total non-current liability

344,235

782,364

Total liabilities

679,245

1,049,503

Shareholders’ equity

Class A Ordinary shares, $0.005 par value, 180,000,000 shares authorized,
2,805,325 and 2,805,325 shared issued and outstanding as of December 31, 2023
and June 30, 2024*

14,027

14,027

Class B Ordinary shares, $0.005 par value, 20,000,000 shares authorized, no shares
issued and outstanding as of December 31, 2023 and June 30, 2024*

Additional paid in capital

55,327,858

55,327,858

Statutory reserves

166,038

166,038

Accumulated deficit

(43,363,848)

(44,489,252)

Accumulated other comprehensive income

85,819

78,254

Total shareholders’ equity

12,229,894

11,096,925

Total liabilities and shareholders’ equity

$

12,909,139

$

12,146,428

 

*

Retrospectively restated for one-for-five reverse split with effective date of August 10, 2022.

 

SENTAGE HOLDINGS INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

For the six months
ended June 30,

2023

2024

OPERATING REVENUE

Prepaid payment network service fee

82

Total operating revenue

82

OPERATING EXPENSE

Selling, general and administrative expenses                                                                  

1,080,345

1,123,711

Total operating expenses

1,080,345

1,123,711

LOSS FROM OPERATIONS

(1,080,263)

(1,123,711)

OTHER EXPENSES

(1,623)

(1,693)

LOSS BEFORE INCOME TAX PROVISION

(1,081,886)

(1,125,404)

PROVISION FOR INCOME TAXES

NET LOSS

(1,081,886)

(1,125,404)

OTHER COMPREHENSIVE LOSS

Foreign currency translation adjustment

(57,057)

(7,565)

COMPREHENSIVE LOSS

$

(1,138,943)

$

(1,132,969)

Loss per common share- basic and diluted

$

(0.46)

$

(0.47)

Weighted average shares- basic and diluted

2,376,764

2,376,764

 

 

SENTAGE HOLDINGS INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

For the six months
ended June 30,

2023

2024

Cash flows from operating activities

Net loss

$

(1,081,886)

$

(1,125,404)

Adjustments to reconcile net income to cash and restricted cash
provided by (used in) operating activities:

Depreciation and amortization

49,087

52,151

Allowance for Credit Losses

(2,902)

45,231

Changes in operating assets and liabilities:

Accounts receivable

37,863

107,348

Prepaid expenses and other current assets

124,441

(101,374)

Lease liabilities

(44,191)

(44,473)

Accrued expenses and other current liabilities

(97,547)

(19,443)

Net cash used in operating activities

(1,015,135)

(1,085,964)

Cash flows from investing activity

Additions to property, plant and equipment

(537)

Net cash used in investing activity

(537)

Cash flows from financing activity

Proceeds from (Repayment to) related party loans

(4,709)

438,129

Net cash (used in)/provided by financing activity

(4,709)

438,129

Reconciliation of cash and restricted cash, beginning of period                          

Cash

3,805,135

2,262,881

Restricted cash

23,089

26,127

Cash and restricted cash, beginning of period

$

3,828,224

$

2,289,008

Reconciliation of cash and restricted cash, end of period

Cash

2,724,245

1,615,725

Restricted cash

19,850

21,101

Cash and restricted cash, end of period

$

2,744,095

$

1,636,826

Effect of exchange rate changes on cash and restricted cash

(63,749)

(4,347)

Net decrease in cash and restricted cash

(1,084,130)

(652,182)

Cash and restricted cash, beginning of period

3,828,224

2,289,008

Cash and restricted cash, end of period

$

2,744,095

$

1,636,826

 

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SOURCE Sentage Holdings Inc.

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Galaxy Digital Inc. Announces Pricing of $3.507 Billion of Senior Secured Notes

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NEW YORK, July 23, 2026 /PRNewswire/ — Galaxy Digital Inc. (NASDAQ: GLXY) (“Galaxy” or the “Company”), a global leader in digital assets and data center infrastructure, today announced that its indirect wholly owned subsidiary, Galaxy Helios Data Centers II LLC (the “Issuer”), has priced a $3.507 billion private offering (the “Offering”) of 9.875% senior secured notes due 2031 (the “Notes”). The Offering is expected to close on July 28, 2026, subject to market and other conditions.

The Issuer intends to use the net proceeds from the Offering to finance a portion of the development and construction of two buildings containing eight data halls with a combined total of 400 megawatts (“MW”) of utility capacity and 260 MW of critical IT capacity (the “Project”) to be built on an approximately 260-acre property in Dickens County, Texas and to fund debt service reserves.

The Notes will bear interest at a rate of 9.875% per annum payable semi-annually in cash in arrears on February 1 and August 1 of each year, beginning on February 1, 2027 and will mature on August 1, 2031. The Notes will amortize at a rate of 4.00% per annum of the original principal amount subject to adjustment, with amortization payments payable semi-annually with the first payment date to occur at least ten months after the completion of the Project.

The Notes will be fully and unconditionally guaranteed by Galaxy Helios II LLC, a wholly owned direct subsidiary of the Issuer (the “Guarantor”), and will constitute the senior secured obligations of the Issuer and the Guarantor. The Notes and related note guarantee will be secured by first-priority liens on (i) substantially all assets of the Issuer and the Guarantor, other than certain excluded property and (ii) all equity interests of the Issuer held by the direct parent company of the Issuer.

The Offering is subject to market and other conditions, and there can be no assurance as to whether, when or on what terms the Offering may be completed.

The Notes have not been registered under the Securities Act or the securities laws of any other jurisdiction, and the Notes may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act and any applicable state securities laws. The Notes will be offered only to persons reasonably believed to be qualified institutional buyers under Rule 144A under the Securities Act and outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act.

This press release shall not constitute an offer to sell, or a solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Galaxy

Galaxy Digital Inc. (Nasdaq: GLXY) is a global leader in digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Our digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, we develop and operate cutting-edge data center infrastructure to power AI and HPC workloads. Our 1.63 GW Helios campus in Texas positions Galaxy among the largest and fastest-growing data center developers in North America. The Company is headquartered in New York City, with offices across North America, Europe, the Middle East, and Asia.

Forward Looking Statements

This press release includes forward-looking statements, including statements relating to the completion, size and timing of the Offering, the terms of the Notes and the intended use of proceeds. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Forward-looking statements represent the Company’s current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Among those risks and uncertainties are market conditions, including market interest rates, the satisfaction of the closing conditions related to the Offering and risks relating to the Company’s business, including those described in periodic reports that the Company files from time to time with the SEC. The Issuer may not consummate the proposed Offering described in this press release and, if the proposed Offering is consummated, cannot provide any assurances regarding the final terms of the Offering or the Notes or its ability to effectively apply the net proceeds as described above. The forward-looking statements included in this press release speak only as of the date of this press release, and the Company does not undertake to update the statements included in this press release for subsequent developments, whether as a result of new information, future events, or otherwise, except as may be required by law.

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SOURCE Galaxy Digital Inc.

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The Finish Line that Changed China: Retracing the Long March to Yan’an

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BEIJING, July 23, 2026 /PRNewswire/ — A news report from China.org.cn on the Long March, and what it means for China today:

 

Every journey has a destination.

But some destinations become the beginning of something even greater.

This is Yan’an.

Over 90 years ago, an army of soldiers embarked from Yudu, Jiangxi Province, on a journey that would go down in history.

They crossed snow-capped mountains, vast grasslands and raging rivers, eventually arriving in northern Shaanxi.

Across this grueling 12,500-kilometer journey, they wrote a magnificent epic in human history with willpower and courage.

Here, their Long March came to a victorious end. But a new chapter of history was only beginning.

In Yan’an, the Red Army found time to recover and rebuild, and the Central Committee of the Communist Party of China regrouped, gathering strength for the next chapter.

Here, new ideas were debated, new strategies were shaped, and a vision for China’s future gradually took form.

Today, while preserving its revolutionary legacy, Yan’an has grown into a vibrant, modern city — with a greener environment, thriving industries and happier lives for its people.

Nearly 90 years ago, American journalist Edgar Snow came to northern Shaanxi, seeking to uncover a story that few outside China knew. He later chronicled it in his book “Red Star Over China,” which carried the story of the Long March to the world.

Today, people from around the world are once again retracing those steps.

As part of China International Communications Group (CICG)’s “Together on the Long March” international communication project, participants have spent more than a month retracing the route across six key regions.

From Jiangxi to Shaanxi, they followed the Red Army’s journey and witnessed the remarkable changes that have taken place along the way.

I asked them one simple question: What does this journey mean to you?

Zhavier Harris, marketing and communications manager at the Springfield Urban League, said conversations with local residents and descendants of the Red Army made history feel far more immediate than he had expected.

He said history isn’t as distant as we often think. “We’re only one or two generations from these great sacrifices that led to the development and the greatness that we see from the Communist Party of China and China as a whole.”

David Ferguson, honorary chief English editor at Foreign Languages Press under CICG and a recipient of the 2021 Chinese Government Friendship Award, said the journey deepened his understanding of the Long March.

He said the journey helped him understand not only the historical facts, but also what the Red Army endured. “If you see the Long March merely as a military campaign, it ended in Yan’an. But as a spirit, it has never truly come to an end.”

We came to retrace history. We leave with something more: a deeper understanding of China’s past, a clearer view of its present, and perhaps a greater appreciation for the stories that connect us across cultures.

Edgar Snow called the Long March “an Odyssey unequalled in modern times.” He believed that what sustained it was a flame — consisting of an undimmed ardor, an undying hope and an amazing revolutionary optimism.

Ninety years later, that flame still burns.

Passed down through generations, the spirit of the Long March continues to light China’s path forward.

And as it crosses borders and cultures, it offers the world a glimpse of a nation defined by resilience, perseverance and an enduring drive to move forward.

China Mosaic
http://www.china.org.cn/video/node_7230027.htm 

The Finish Line that Changed China: Retracing the Long March to Yan’an
http://www.china.org.cn/video/2026-07/23/content_118614941.shtml

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SOURCE China.org.cn

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Visa and Lianlian Advance Trusted B2B Agentic Commerce Through LoopXPay’s First Live B2B Agentic Transaction

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First live B2B agentic transaction in Greater China highlights how AI-enabled commerce can help SMBs streamline purchasing and payments, supported by Visa’s Agentic Directory for trusted AI agent interactions

SINGAPORE, July 24, 2026 /PRNewswire/ — Visa (NYSE: V), a global leader in digital payments, and Lianlian DigiTech Co., Ltd. (“Lianlian”), an AI-native global financial infrastructure provider, today announced the first live B2B agentic transaction completed using LoopXPay, Lianlian’s AI agent. 

Small and medium sized businesses (SMBs) often lack dedicated procurement teams and spend valuable time sourcing, purchasing and making payments themselves. In the transaction, the LoopXPay agent was used to source a product sample from a supplier and complete the purchase in a single workflow. The agent identified the purchasing requirement, recommended suitable suppliers, compared options, placed the order and securely executed the payment within a single workflow, while operating within pre-defined spending controls and approval parameters.

The milestone highlights how AI-powered commerce experiences can help SMBs simplify purchasing and payment activities while maintaining appropriate controls and oversight. By enabling AI agents to operate within pre-defined spending parameters and approval controls, businesses can reduce manual effort while retaining visibility into commercial decision-making.

As AI agents become more involved in purchasing and payment activities, businesses will require confidence that transactions are being executed by verified participants, within approved parameters and with appropriate oversight. Capabilities aligned with Visa’s Trusted Agent Protocol can help provide the identity, transparency and controls needed to support these interactions.

As part of the collaboration, LoopXPay has been registered in Visa’s Agentic Directory, enabling participating businesses and merchants to identify verified AI agents within the ecosystem. Supporting the implementation of Visa’s Trusted Agent Protocol, the Agentic Directory helps provide greater transparency into agent-driven interactions and confidence that participating agents have met Visa’s requirements.

“AI-powered commerce experiences can help businesses simplify purchasing and payments while maintaining the controls and oversight they require,” said Darren Parslow, Global Head, Visa Commercial Solutions, Visa. “For SMBs, that means less complexity in managing day-to-day commercial activities and more time focused on growth. As businesses increasingly look to embed intelligence into purchasing and payment experiences, trust will become a critical enabler of adoption. Through our collaboration with Lianlian, we are helping advance the trusted foundations that businesses will need to participate in this next era of commerce with confidence.”

Building on this milestone, Visa and Lianlian are exploring how AI agents can support a broader range of commercial activities, including procurement, digital advertising optimisation and B2B platform payments, helping advance trusted commerce through greater efficiency, transparency and control.

Zhang Zhengyu, Founder, Chairman of the Board and CEO, Lianlian DigiTech, said, “AI is reshaping the entire commercial value chain, where a growing number of business activities will be autonomously executed by AI agents, with payments serving as the critical infrastructure connecting them to global commerce. Leveraging its experience in global cross-border payments, compliance, as well as payment network, LianLian is actively building AI-native financial infrastructure, delivering an integrated suite of capabilities for the Agent Economy, spanning identity verification, transaction authorisation, intelligent payment, and global fund settlement. Through this collaboration with Visa, we aim to combine Lianlian’s AI-native capabilities with Visa’s trusted global network and commercial payment expertise to help businesses transact more securely, intelligently and efficiently in an increasingly agent-driven commerce environment.”

About Visa

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, sellers, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

About Lianlian

Lianlian DigiTech Co., Ltd. (“Lianlian DigiTech” or “Lianlian”) was founded in 2009 and listed on the Main Board of the Hong Kong Stock Exchange in 2024 (stock code: 2598.HK). As China’s leading global provider of digital and intelligent payment services, Lianlian adheres to its mission of “Connecting the world, empowering global commerce” and pursues an “AI-Native + Globalization” strategy. The Company is committed to building a trusted global intelligent financial infrastructure, enabling seamless connectivity between Chinese enterprises and global businesses.  As of now, Lianlian has established a global licensing portfolio comprising 68 payment licenses and related qualifications, and holds a VATP license issued by the Hong Kong SFC. It supports services in more than 200 countries and regions and enables transaction settlement in over 140 currencies, connecting over 180 global e-commerce platforms and serving a cumulative total of over 13.3 million customers. Learn more at www.lianlian.com.

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SOURCE Visa Worldwide Pte. Limited

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