SHANGHAI, July 12,
2024 /PRNewswire/ -- Nisun International Enterprise
Development Group Co., Ltd. ("Nisun International" or the
"Company") (NASDAQ: NISN), a technology and industry driven
integrated supply chain solutions provider, today announced its
financial results for the fiscal year ended December 31, 2023.
Financial Highlights:
- Revenue: Total revenue for the year was
$386.7 million, representing a 65%
increase compared to $234.2 million
in 2022.
- Gross Profit: Gross profit increased to
$40.0 million from $37.0 million in the previous year.
- Net Income: Net income for 2023 was $17.7 million.
- Cash and Cash Equivalents: The Company ended the
year with $114.5 million in cash and
cash equivalents.
- Earnings per Share (EPS): The Company reported
earnings of $4.46 per share, with a
cash per share value of $29.0.
CEO's Comments:
Xin Liu, CEO of Nisun
International, commented, "We are thrilled to report another year
of outstanding financial performance, underscoring the success of
our strategic initiatives and operational excellence. Our revenue
growth of 65% is a testament to our robust supply chain solutions.
We have made significant strides in expanding our supply
chain capabilities, diversifying into other agricultural
products. These efforts have positioned us well for sustained
growth and profitability."
Mr. Liu continued, "Despite our strong financial performance,
substantial cash reserves of $29.0 per share, and robust earnings, our
stock trades at just over one times annual earnings by the end
of June. We believe this significantly undervalues our company. The
Board of Directors and I are actively considering strategic
alternatives to unlock shareholder value and better align our
market valuation with the intrinsic value of our company. Our
strong cash position and ongoing growth initiatives provide a solid
foundation for these efforts."
Operational Highlights:
- Supply Chain Trading and Solutions: Nisun
International continues to enhance its supply chain trading and
financing solutions capabilities, leveraging state-of-the-art
technology to streamline operations and reduce costs. The Company
successfully managed the daily supply of 3.6 to 6 million eggs to
major online platforms across key regions.
- Geographical Expansion: The Company's supply chain
operations now span multiple regions, enabling delivery of a
diverse range of products. This extensive network ensures seamless
operations and strengthens Nisun's market presence.
- Diversification: Nisun has expanded its supply
chain solutions to include other agricultural products, positioning
the Company for substantial growth in the agricultural sector.
Looking Ahead:
Mr. Liu added, "Our commitment to innovation and excellence
remains unwavering as we continue to drive growth and create value
for our shareholders. The strategic expansion of our supply
chain solution will enable us to meet the evolving needs
of our customers and capitalize on new market opportunities. We are
excited about the future and confident in our ability to achieve
even greater success."
Investor Relations:
For more information, please visit the Investor Relations
section of Nisun International's website at:
www.nisun-international.com.
About Nisun International:
Nisun International Enterprise Development Group Co., Ltd
(NASDAQ: NISN) is a technology-driven, integrated supply chain
solutions provider focused on transforming the corporate finance
industry. Leveraging its industry experience, Nisun is dedicated to
providing professional supply chain solutions to Chinese and
foreign enterprises and financial institutions. Through its
subsidiaries, Nisun provides users with professional solutions for
technology supply chain management, technology asset routing, and
digital transformation of tech and finance institutions, enabling
the industry to strengthen and grow. At the same time, Nisun
continues to deepen the field of industry segmentation through
industrial and financial integration. Focusing on industry-finance
linkages, Nisun aims to serve the upstream and downstream of the
industrial supply chain while also assisting with supply-side
sub-sector reform.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains information about Nisun's view of
its future expectations, plans and prospects that constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and as defined in the
U.S. Private Securities Litigation Reform Act of 1995. Actual
results may differ materially from historical results or those
indicated by these forward-looking statements as a result of a
variety of factors including, but not limited to, risks and
uncertainties associated with its ability to raise additional
funding, its ability to maintain and grow its business, variability
of operating results, its ability to maintain and enhance its
brand, its development and introduction of new products and
services, the successful integration of acquired companies,
technologies and assets into its portfolio of products and
services, marketing and other business development initiatives,
competition in the industry, general government regulation,
economic conditions, dependence on key personnel, the ability to
attract, hire and retain personnel who possess the technical skills
and experience necessary to meet the requirements of its clients,
and its ability to protect its intellectual property. Nisun
encourages you to review other factors that may affect its future
results in Nisun's registration statement and in its other filings
with the Securities and Exchange Commission. Nisun assumes no
obligation to update or revise its forward-looking statements as a
result of new information, future events or otherwise, except as
expressly required by applicable law.
For more information, please contact:
Nisun International Enterprise Development Group Co.,
Ltd
Investor Relations
Tel: +86 (21) 2357-0055
Email: ir@cnisun.com
Horizon Research Management Consultancy
Michael Wei
Email: hwey@horizonconsultancy.co
|
NISUN INTERNATIONAL
ENTERPRISE DEVELOPMENT GROUP CO., LTD AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(EXPRESSED IN US
DOLLARS)
|
|
|
|
December 31,
2023
|
|
|
December 31,
2022
|
|
|
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
|
|
CURRENT
ASSETS:
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$
|
114,454,844
|
|
|
$
|
63,901,329
|
|
|
Restricted
cash
|
|
|
197,096
|
|
|
|
3,417,244
|
|
|
Short-term
investments
|
|
|
12,788,629
|
|
|
|
11,700,400
|
|
|
Accounts receivable,
net
|
|
|
21,120,795
|
|
|
|
18,931,346
|
|
|
Advance to suppliers,
net
|
|
|
38,602,304
|
|
|
|
46,968,549
|
|
|
Receivables from supply
chain solutions
|
|
|
59,167,029
|
|
|
|
43,475,981
|
|
|
Inventories
|
|
|
30,953,583
|
|
|
|
31,609,877
|
|
|
Prepaid expenses and
other current assets
|
|
|
16,018,778
|
|
|
|
10,890,083
|
|
|
TOTAL CURRENT
ASSETS
|
|
|
293,303,058
|
|
|
|
230,894,809
|
|
|
|
|
|
|
|
|
|
|
|
NON-CURRENT
ASSETS:
|
|
|
|
|
|
|
|
|
|
Property and equipment,
net
|
|
|
881,276
|
|
|
|
719,574
|
|
|
Intangible assets,
net
|
|
|
882,828
|
|
|
|
1,795,234
|
|
|
Right-of-use assets,
net
|
|
|
2,384,590
|
|
|
|
3,349,432
|
|
|
Equity
investments
|
|
|
368,528
|
|
|
|
373,292
|
|
|
Investment in limited
partnership
|
|
|
-
|
|
|
|
14,913,539
|
|
|
Goodwill
|
|
|
17,659,983
|
|
|
|
23,814,005
|
|
|
Deferred tax assets,
net
|
|
|
418,571
|
|
|
|
310,577
|
|
|
Long term
investment
|
|
|
-
|
|
|
|
7,249,319
|
|
|
TOTAL NON-CURRENT
ASSETS
|
|
|
22,595,776
|
|
|
|
52,524,972
|
|
|
TOTAL
ASSETS
|
|
$
|
315,898,834
|
|
|
$
|
283,419,781
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
|
|
|
|
CURRENT
LIABILITIES:
|
|
|
|
|
|
|
|
|
|
Accounts
payable
|
|
$
|
45,463,753
|
|
|
$
|
40,925,155
|
|
|
Short-term bank
loans
|
|
|
1,971,859
|
|
|
|
434,959
|
|
|
Accrued expenses and
other current liabilities
|
|
|
7,245,358
|
|
|
|
6,090,582
|
|
|
Operating lease
liabilities - current
|
|
|
861,087
|
|
|
|
1,008,766
|
|
|
Payables to supply
chain solutions
|
|
|
12,947,708
|
|
|
|
9,122,978
|
|
|
Advances from
customers
|
|
|
38,153,915
|
|
|
|
21,827,387
|
|
|
Taxes
payable
|
|
|
4,145,920
|
|
|
|
2,748,474
|
|
|
Loan from related
party
|
|
|
-
|
|
|
|
8,028,965
|
|
|
Liabilities of
financial guarantee
|
|
|
22,335
|
|
|
|
-
|
|
|
Due to related parties
- current
|
|
|
274,652
|
|
|
|
282,724
|
|
|
TOTAL CURRENT
LIABILITIES
|
|
|
111,086,587
|
|
|
|
90,469,990
|
|
|
|
|
|
|
|
|
|
|
|
Operating lease
liabilities – non-current
|
|
|
1,643,076
|
|
|
|
2,425,597
|
|
|
Deferred tax
liabilities
|
|
|
114,650
|
|
|
|
727,326
|
|
|
TOTAL NON-CURRENT
LIABILITIES
|
|
|
1,757,726
|
|
|
|
3,152,923
|
|
|
TOTAL
LIABILITIES
|
|
|
112,844,313
|
|
|
|
93,622,913
|
|
|
|
|
|
|
|
|
|
|
|
SHAREHOLDERS'
EQUITY*:
|
|
|
|
|
|
|
|
|
|
Class A common stock,
$0.01 par value, 30,000,000 and 30,000,000 shares
authorized, 4,017,596 and 4,006,263 shares issued, and
3,952,198 and 3,944,075
shares
outstanding as of December 31, 2023 and 2022,
respectively
|
|
|
40,176
|
|
|
|
40,063
|
|
|
Class B common stock,
$0.01 par value, 1,000,000 shares authorized, no shares
issued and
outstanding as of December 31, 2023 and 2022
|
|
|
-
|
|
|
|
-
|
|
|
Treasury
shares
|
|
|
(261,592)
|
|
|
|
(355,844)
|
|
|
Additional paid-in
capital
|
|
|
130,535,082
|
|
|
|
130,503,387
|
|
|
Retained
earnings
|
|
|
68,395,637
|
|
|
|
53,214,304
|
|
|
Statutory
reserves
|
|
|
11,564,250
|
|
|
|
9,167,845
|
|
|
Accumulated other
comprehensive loss
|
|
|
(11,474,682)
|
|
|
|
(6,937,950)
|
|
|
COMMON SHAREHOLDERS'
EQUITY
|
|
|
198,798,871
|
|
|
|
185,631,805
|
|
|
Non-controlling
interests
|
|
|
4,255,650
|
|
|
|
4,165,063
|
|
|
TOTAL SHAREHOLDERS'
EQUITY
|
|
|
203,054,521
|
|
|
|
189,796,868
|
|
|
TOTAL LIABILITIES
AND SHAREHOLDERS' EQUITY
|
|
$
|
315,898,834
|
|
|
$
|
283,419,781
|
|
|
|
* The financial
statements give retroactive effect to the May 18, 2023 one-for-ten
reverse share split.
|
|
NISUN INTERNATIONAL
ENTERPRISE DEVELOPMENT GROUP CO., LTD AND
SUBSIDIARIES
CONSOLIDATED
STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(LOSS)
(EXPRESSED IN US
DOLLARS)
|
|
|
|
For the Year Ended
December 31,
|
|
|
|
2023
|
|
|
2022
|
|
|
2021
|
|
|
|
|
|
|
|
|
|
|
|
|
REVENUES:
|
|
|
|
|
|
|
|
|
|
|
Revenue
generated from services:
|
|
|
|
|
|
|
|
|
|
|
Small and Medium Enterprise financing solutions
|
|
$
|
101,823,899
|
|
|
$
|
87,269,959
|
|
|
$
|
87,133,963
|
|
|
Supply Chain financing solutions
|
|
|
6,153,645
|
|
|
|
3,542,592
|
|
|
|
4,930,289
|
|
|
Other financing solutions
|
|
|
-
|
|
|
|
-
|
|
|
|
3,222
|
|
|
Total revenue generated
from services
|
|
|
107,977,544
|
|
|
|
90,812,551
|
|
|
|
92,067,474
|
|
|
Revenue generated from sales:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supply chain trading
business
|
|
|
278,693,355
|
|
|
|
143,361,714
|
|
|
|
68,132,237
|
|
|
Total revenues
|
|
|
386,670,899
|
|
|
|
234,174,265
|
|
|
|
160,199,711
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COST OF
REVENUE:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenue - services
|
|
|
(68,154,833)
|
|
|
|
(55,472,076)
|
|
|
|
(37,989,001)
|
|
|
Cost of revenue - sales
|
|
|
(278,002,800)
|
|
|
|
(140,880,063)
|
|
|
|
(67,628,806)
|
|
|
Business and sales related taxes
|
|
|
(527,336)
|
|
|
|
(772,830)
|
|
|
|
(533,760)
|
|
|
GROSS
PROFIT
|
|
|
39,985,930
|
|
|
|
37,049,296
|
|
|
|
54,048,144
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATING EXPENSES:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling expenses
|
|
|
(1,525,692)
|
|
|
|
(1,977,617)
|
|
|
|
(2,323,403)
|
|
|
General and administrative expenses
|
|
|
(10,859,011)
|
|
|
|
(10,511,542)
|
|
|
|
(11,641,567)
|
|
|
Research and development expenses
|
|
|
(1,093,457)
|
|
|
|
(1,563,718)
|
|
|
|
(1,599,728)
|
|
|
Bad debt expense
|
|
|
(2,215,016)
|
|
|
|
(4,509,634)
|
|
|
|
(294,536)
|
|
|
Goodwill Impairment Loss
|
|
|
(5,488,816)
|
|
|
|
(777,329)
|
|
|
|
-
|
|
|
Total operating
expenses
|
|
|
(21,181,992)
|
|
|
|
(19,339,840)
|
|
|
|
(15,859,234)
|
|
|
INCOME
FROM OPERATIONS
|
|
|
18,803,938
|
|
|
|
17,709,456
|
|
|
|
38,188,910
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER
INCOME :
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest and investment income
|
|
|
2,557,588
|
|
|
|
2,790,768
|
|
|
|
2,122,903
|
|
|
Other income , net
|
|
|
2,159,301
|
|
|
|
2,021,688
|
|
|
|
464,210
|
|
|
Total other income,
net
|
|
|
4,716,889
|
|
|
|
4,812,456
|
|
|
|
2,587,113
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INCOME BEFORE
PROVISION FOR INCOME TAXES
|
|
|
23,520,827
|
|
|
|
22,521,912
|
|
|
|
40,776,023
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROVISION FOR
INCOME TAXES
|
|
|
(5,817,147)
|
|
|
|
(4,741,854)
|
|
|
|
(10,269,501)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NET
INCOME
|
|
|
17,703,680
|
|
|
|
17,780,058
|
|
|
|
30,506,522
|
|
|
Net income attributable
to non-controlling interests
|
|
|
(125,942)
|
|
|
|
(159,246)
|
|
|
|
(126,161)
|
|
|
NET INCOME - Nisun
International's shareholders
|
|
$
|
17,577,738
|
|
|
$
|
17,620,812
|
|
|
$
|
30,380,361
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER COMPREHENSIVE
INCOME (LOSS)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency translation (loss) income
|
|
|
(4,536,797)
|
|
|
|
(12,576,380)
|
|
|
|
2,039,011
|
|
|
COMPREHENSIVE
INCOME
|
|
|
13,040,941
|
|
|
|
5,044,432
|
|
|
|
32,419,372
|
|
|
Comprehensive loss
attributable to non-controlling interests
|
|
|
65
|
|
|
|
6,231
|
|
|
|
2,051
|
|
|
COMPREHENSIVE
INCOME
|
|
$
|
13,041,006
|
|
|
$
|
5,050,663
|
|
|
$
|
32,421,423
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BASIC AND DILUTED
EARNINGS PER COMMON SHARE:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NET EARNINGS PER
COMMON SHARE
|
|
$
|
4.46
|
|
|
$
|
4.42
|
|
|
$
|
14.13
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number
of shares outstanding-basic and diluted*
|
|
|
3,943,793
|
|
|
|
3,986,359
|
|
|
|
2,150,683
|
|
|
|
* The financial
statements give retroactive effect to the May 18, 2023 one-for-ten
reverse share split.
|
|
NISUN INTERNATIONAL
ENTERPRISE DEVELOPMENT GROUP CO., LTD AND
SUBSIDIARIES
CONDENSED STATEMENTS
OF CASH FLOWS
FOR THE YEARS ENDED
DECEMBER 31, 2023, 2022 and 2021
(EXPRESSED IN US
DOLLARS)
|
|
|
|
2023
|
|
|
2022
|
|
|
2021
|
|
|
|
|
|
|
|
|
|
|
|
|
CASH
FLOWS FROM OPERATING ACTIVITIES:
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$
|
17,703,680
|
|
|
$
|
17,780,058
|
|
|
$
|
30,506,522
|
|
|
Adjustments to reconcile net income to net cash provided by
(used
in) operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and
amortization
|
|
|
2,238,222
|
|
|
|
2,113,732
|
|
|
|
2,180,038
|
|
|
Stock-based
compensation
|
|
|
-
|
|
|
|
125,630
|
|
|
|
498,825
|
|
|
Shares issued for
compensation
|
|
|
31,808
|
|
|
|
185,000
|
|
|
|
71,175
|
|
|
Bad debt
expense
|
|
|
2,215,016
|
|
|
|
4,509,634
|
|
|
|
294,536
|
|
|
Impairment of
goodwill
|
|
|
5,488,816
|
|
|
|
777,329
|
|
|
|
-
|
|
|
Loss on disposition of
property and equipment
|
|
|
-
|
|
|
|
1,385
|
|
|
|
190,301
|
|
|
Income from
investments
|
|
|
(365,359)
|
|
|
|
(541,578)
|
|
|
|
(808,464)
|
|
|
Deferred tax (benefit)
expense
|
|
|
(710,672)
|
|
|
|
271,907
|
|
|
|
275,749
|
|
|
Changes in operating
assets and liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts receivable
|
|
|
(3,086,600)
|
|
|
|
(2,075,274)
|
|
|
|
(13,294,924)
|
|
|
Advance to suppliers,
net
|
|
|
7,282,068
|
|
|
|
(39,859,386)
|
|
|
|
(9,213,279)
|
|
|
Prepaid expenses and other
current assets
|
|
|
(5,511,142)
|
|
|
|
(4,734,501)
|
|
|
|
(3,464,939)
|
|
|
Receivables from supply chain
solutions
|
|
|
(18,651,357)
|
|
|
|
11,372,841
|
|
|
|
(48,202,128)
|
|
|
Inventories
|
|
|
(246,818)
|
|
|
|
(25,530,993)
|
|
|
|
(3,931,400)
|
|
|
Accounts payable
|
|
|
5,722,300
|
|
|
|
7,693,011
|
|
|
|
33,620,611
|
|
|
Advance from
customers
|
|
|
16,986,750
|
|
|
|
19,085,377
|
|
|
|
3,375,769
|
|
|
Taxes payable
|
|
|
1,478,316
|
|
|
|
(5,574,048)
|
|
|
|
5,575,502
|
|
|
Other payables
|
|
|
3,232,387
|
|
|
|
-
|
|
|
|
2,576,570
|
|
|
Payable to supply chain
solutions
|
|
|
4,096,141
|
|
|
|
(15,198,883)
|
|
|
|
25,608,622
|
|
|
Operating lease
liabilities
|
|
|
(834,381)
|
|
|
|
(855,242)
|
|
|
|
(952,495)
|
|
|
Accrued expenses and other
current liabilities
|
|
|
(1,569,395)
|
|
|
|
1,501,078
|
|
|
|
(1,049,489)
|
|
|
NET CASH (USED IN)
PROVIDED BY OPERATING
ACTIVITIES
|
|
|
35,499,780
|
|
|
|
(28,952,923)
|
|
|
|
23,857,102
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CASH FLOWS FROM
INVESTING ACTIVITIES:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acquisition of property and equipment
|
|
|
(503,957)
|
|
|
|
(652,585)
|
|
|
|
(186,705)
|
|
|
Purchase of intangible assets
|
|
|
(44,029)
|
|
|
|
(74,710)
|
|
|
|
(18,281)
|
|
|
Cash (paid) received in connection with Nami acquisition
|
|
|
-
|
|
|
|
-
|
|
|
|
(7,007,905)
|
|
|
Cash paid in connection with acquisition, net of cash
received
|
|
|
-
|
|
|
|
(530,322)
|
|
|
|
-
|
|
|
Cash received on disposal of discontinued operations
|
|
|
-
|
|
|
|
-
|
|
|
|
14,950,730
|
|
|
Proceeds from sale of short-term investments
|
|
|
103,458,984
|
|
|
|
78,595,280
|
|
|
|
4,894,270
|
|
|
Proceeds from sale of Long-term investment
|
|
|
7,061,233
|
|
|
|
-
|
|
|
|
-
|
|
|
Proceeds from investment in debt securities
|
|
|
14,366,013
|
|
|
|
-
|
|
|
|
-
|
|
|
Purchase of short-term investments
|
|
|
(104,365,028)
|
|
|
|
(51,567,746)
|
|
|
|
(39,526,099)
|
|
|
Purchase of Long-term investments
|
|
|
-
|
|
|
|
(7,430,511)
|
|
|
|
-
|
|
|
Collection of loans to third parties
|
|
|
-
|
|
|
|
-
|
|
|
|
1,643,203
|
|
|
Proceeds from disposal of subsidiary
|
|
|
71,514
|
|
|
|
-
|
|
|
|
-
|
|
|
Loans to third parties
|
|
|
(229,161)
|
|
|
|
(501,905)
|
|
|
|
-
|
|
|
NET CASH PROVIDED BY
(USED IN) INVESTING
ACTIVITIES
|
|
|
19,815,569
|
|
|
|
17,837,501
|
|
|
|
(25,250,787)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CASH FLOWS FROM
FINANCING ACTIVITIES:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from short-term bank loans
|
|
|
1,553,471
|
|
|
|
445,831
|
|
|
|
784,609
|
|
|
Proceeds from issuance of common shares and pre-funded
warrants
|
|
|
-
|
|
|
|
-
|
|
|
|
70,794,465
|
|
|
Proceeds from third-party loans
|
|
|
1,977,145
|
|
|
|
36,770,626
|
|
|
|
-
|
|
|
Repayment of short-term bank loans
|
|
|
(29,961)
|
|
|
|
(1,239,983)
|
|
|
|
-
|
|
|
Repayment of third-party loans
|
|
|
(2,277,954)
|
|
|
|
(41,491,973)
|
|
|
|
-
|
|
|
Repayment to related parties
|
|
|
-
|
|
|
|
(10,097)
|
|
|
|
(1,803,374)
|
|
|
Repayment of loan from related parties
|
|
|
(8,028,965)
|
|
|
|
(2,500,000)
|
|
|
|
-
|
|
|
Purchase of treasury shares
|
|
|
94,252
|
|
|
|
(355,844)
|
|
|
|
-
|
|
|
Capital contribution from non-controlling interest
|
|
|
(35,290)
|
|
|
|
37,116
|
|
|
|
751,841
|
|
|
NET CASH (USED IN)
PROVIDED BY FINANCING
ACTIVITIES
|
|
|
(6,747,302)
|
|
|
|
(8,344,324)
|
|
|
|
70,527,541
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EFFECT OF EXCHANGE
RATE CHANGE ON CASH AND
CASH
EQUIVALENTS
|
|
|
(1,234,680)
|
|
|
|
(4,848,722)
|
|
|
|
294,928
|
|
|
NET (DECREASE)
INCREASE IN CASH AND CASH
EQUIVALENTS
|
|
|
47,333,367
|
|
|
|
(24,308,468)
|
|
|
|
69,428,784
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CASH AND CASH
EQUIVALENTS AND RESTRICTED CASH
FROM
CONTINUING OPERATIONS-BEGINNING
|
|
|
67,318,573
|
|
|
|
91,627,041
|
|
|
|
22,198,257
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CASH AND CASH
EQUIVALENTS AND RESTRICTED CASH
FROM
CONTINUING OPERATIONS-ENDING
|
|
$
|
114,651,940
|
|
|
$
|
67,318,573
|
|
|
$
|
91,627,041
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SUPPLEMENTAL CASH
FLOW DISCLOSURES:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash paid for income taxes
|
|
$
|
4,530,963
|
|
|
$
|
10,385,495
|
|
|
$
|
5,546,082
|
|
|
Cash paid for interest
|
|
$
|
29,961
|
|
|
$
|
496,932
|
|
|
$
|
370,356
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SUPPLEMENTAL
DISCLOSURE OF NON-CASH ACTIVITIES:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Repayment payable for business disposition
|
|
|
279,037
|
|
|
|
-
|
|
|
|
-
|
|
|
Receivable from disposal of subsidiary
|
|
$
|
-
|
|
|
$
|
289,973
|
|
|
$
|
-
|
|
|
Lease liabilities arising from obtaining
right-of-use
assets
|
|
|
295,220
|
|
|
|
4,070,163
|
|
|
|
-
|
|
|
Issuance of shares for share-based compensation
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
71,175
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CASH AND CASH
EQUIVALENTS FROM CONTINUING
OPERATIONS ARE COMPRISED OF THE FOLLOWING:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$
|
114,454,844
|
|
|
$
|
63,901,329
|
|
|
$
|
91,447,620
|
|
|
Restricted
cash
|
|
|
197,096
|
|
|
|
3,417,244
|
|
|
|
179,421
|
|
|
Total cash, cash
equivalents and restricted cash
|
|
$
|
114,651,940
|
|
|
$
|
67,318,573
|
|
|
$
|
91,627,041
|
|
View original
content:https://www.prnewswire.com/news-releases/nisun-international-reports-financial-results-for-fiscal-year-2023-nisun-achieves-65-revenue-growth-and-ends-the-year-with-29-0-cash-per-share-302195735.html
SOURCE Nisun International Enterprise Development Group Co.,
Ltd