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Sea | UPLOAD: Others

SEC announcement ·  Jan 27 02:28
Summary by Futu AI
The United States Securities and Exchange Commission (SEC) has issued comments on Sea Limited's Form 20-F for the fiscal year ended December 31, 2022, which was filed on April 6, 2023. The SEC's letter, addressed to Sea's CFO Tony Tianyu Hou, requests additional information and clarification on several points, including the presentation of certain metrics, the impact of digital financial services on gross profit and margin, and details on cost-saving initiatives affecting operating cash flows. The SEC has asked for a response within ten business days or a schedule for when Sea will provide the requested information. The letter also suggests improvements to disclosures on revenue recognition, loans to consumer customers, and segment reporting. Sea Limited is expected to revise its disclosures to provide investors with a better understanding of its operations and financials.
The United States Securities and Exchange Commission (SEC) has issued comments on Sea Limited's Form 20-F for the fiscal year ended December 31, 2022, which was filed on April 6, 2023. The SEC's letter, addressed to Sea's CFO Tony Tianyu Hou, requests additional information and clarification on several points, including the presentation of certain metrics, the impact of digital financial services on gross profit and margin, and details on cost-saving initiatives affecting operating cash flows. The SEC has asked for a response within ten business days or a schedule for when Sea will provide the requested information. The letter also suggests improvements to disclosures on revenue recognition, loans to consumer customers, and segment reporting. Sea Limited is expected to revise its disclosures to provide investors with a better understanding of its operations and financials.
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