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Baijiayun Group Ltd, a prepackaged software services company with a market capitalization of $273 million, has announced its annual general meeting of shareholders, set to take place in Nanjing, China. The notice was filed on April 10, 2025, with the U.S. Securities and Exchange Commission in a Form 6-K submission.
The company, previously known as Fuwei Films (Holdings) Co., Ltd., is based in the Yuhuatai District of Nanjing and operates under the laws of the People's Republic of China. According to InvestingPro data, the company maintains a strong financial position with a current ratio of 3.24, indicating solid liquidity. Baijiayun Group Ltd is incorporated in E9 and has its fiscal year end on June 30.
The announcement of the annual general meeting is a routine corporate action that allows shareholders to be informed about key company matters and to exercise their voting rights on various corporate decisions. The specifics of the agenda items for the meeting were not disclosed in the press release.
The filing with the SEC ensures that Baijiayun Group Ltd complies with U.S. regulatory requirements for foreign private issuers. The company has confirmed it will continue to file annual reports under the cover of Form 20-F.
This announcement is based on the press release statement filed by Baijiayun Group Ltd's Chief Financial Officer, Fangfei Liu. Shareholders and interested parties can refer to the SEC filing for detailed information regarding the annual general meeting.
In other recent news, Sohu (NASDAQ:SOHU).Com Inc reported a net loss and a decline in revenue for the fourth quarter of 2024. The company's earnings per share did not meet market expectations, contributing to a negative market reaction. Total (EPA:TTEF) revenues for the quarter were $135 million, a 5% decrease year-over-year, largely due to weak consumer spending and reduced advertising budgets. Brand advertising revenue fell to $19 million, marking a 7% decline, while online game revenue decreased by 4% to $110 million. For the full year of 2024, Sohu's revenue remained flat at $598 million, but the GAAP net loss increased to $100 million from $66 million in 2023. Analysts noted Sohu's focus on AI integration and international expansion as potential growth drivers. The company expects brand advertising revenue between $30 million and $40 million and online gaming revenue between $105 million and $115 million for the first quarter of 2025. Sohu is also continuing its share repurchase program, having bought back 4.2 million ADS for approximately $52 million.
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