Summary by Moomoo AI
Sea Limited, the technology company listed under the ticker SE.US, has responded to a series of comments from the U.S. Securities and Exchange Commission (SEC) regarding its Form 20-F for the fiscal year ended December 31, 2022. The SEC's comments, dated January 26, 2024, addressed Sea's financial reporting and requested additional information and clarification on several points, including the presentation of certain metrics, the impact of digital financial services on gross profit and gross margin, and the nature of loans granted to consumer customers. Sea Limited has committed to presenting the requested metrics in future filings, disclosing the impact of digital financial services separately, and providing additional information on loans receivables. The company also plans to include a narrative discussion to help investors understand changes in operating cash flows and to revise disclosures to offer insight into critical accounting estimates. These responses were outlined in a letter to the SEC dated February 8, 2024, signed by Tony Tianyu Hou of Sea Limited.