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Unaudited Financial Results
Total net revenues were approximately US$1.4 million, representing a decrease of 73.8% from approximately US$5.2 million in the same period of fiscal year 2020. The decrease was mainly due to a decrease in net revenues from our loan recommendation services and interest income from our micro-lending business.
Revenue from loan facilitation, post-origination, and other services was nil, decreased from approximately US$3.2 million in the same period of last fiscal year as the Company had ceased to issue new loans since November 2019.
Revenue from online marketplace services was approximately US$0.3 million, compared with nil in the same period of last fiscal year. Such revenues were generated from our social e-commerce platform, which was launched in May 2020.