Tel: (917) 609-0333
Email: tina.xiao@ascent-ir.com
EBANG INTERNATIONAL HOLDINGS INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(Stated in US dollars)
June 30, December 31,
2024 2023
------------- -------------
ASSETS
Current assets:
Cash and cash equivalents $ 229,517,387 $ 241,634,262
Restricted cash, current 390,067 88,614
Short-term investments 5,816,326 496,122
Accounts receivable, net 817,150 946,514
Advances to suppliers (1) 335,926 198,617
Inventories, net 65,201 198,846
Prepayments 48,643 304,453
Due from related parties 580,319 -
Other current assets, net 6,012,936 5,691,679
------------ ------------
Total current assets 243,583,955 249,559,107
------------ ------------
Non-current assets:
Property, plant and
equipment, net 31,181,673 33,151,061
Intangible assets, net 2,172,852 2,329,777
Operating lease right-of-use
assets 5,169,194 6,119,535
Operating lease right-of-use
assets - related parties 16,934 31,197
Restricted cash, non-current 879,338 1,197,286
VAT recoverables 3,963,629 4,061,079
Other assets (1) 1,783,969 1,790,606
------------ ------------
Total non-current assets 45,167,589 48,680,541
------------ ------------
Total assets $ 288,751,544 $ 298,239,648
============ ============
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable $ 150,966 $ 292,570
Accrued liabilities and other
payables 8,887,387 9,804,848
Operating lease liabilities,
current 1,753,734 1,764,259
Operating lease liabilities -
related parties, current 16,160 28,849
Advances from customers 56,587 69,361
------------ ------------
Total current liabilities 10,864,834 11,959,887
------------ ------------
Non-current liabilities:
Deferred tax liabilities 53,944 74,225
Operating lease liabilities,
non-current 3,907,017 4,880,845
Operating lease liabilities
-- related parties,
non-current 774 2,347
------------ ------------
Total non-current liabilities 3,961,735 4,957,417
------------ ------------
Total liabilities 14,826,569 16,917,304
Equity:
Class A ordinary share,
HKD0.03 par value,
11,112,474 shares
authorized, 4,989,746 shares
issued, and 4,726,424 shares
outstanding as of June 30,
2024 and December 31, 2023 18,178 18,178
Class B ordinary share,
HKD0.03 par value, 1,554,192
shares authorized, issued
and outstanding as of June
30, 2024 and December 31,
2023 5,978 5,978
Additional paid-in capital 397,408,663 397,467,795
Statutory reserves 11,079,649 11,079,649
Accumulated deficit (121,069,174) (114,840,665)
Accumulated other
comprehensive loss (14,493,243) (13,887,088)
------------ ------------
Total Ebang International Holdings
Inc. shareholders' equity 272,950,051 279,843,847
Non-controlling interest 974,924 1,478,497
------------ ------------
Total equity 273,924,975 281,322,344
------------ ------------
Total liabilities and equity $ 288,751,544 $ 298,239,648
============ ============
(1 ) Certain prior year amounts have been reclassified
to conform to the current period's presentation. These
reclassifications had no impact on net earnings and
financial position.
EBANG INTERNATIONAL HOLDINGS INC.
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
AND COMPREHENSIVE LOSS
(Unaudited)
(Stated in US dollars)
For the For the
six months six months
ended ended
June 30, June 30,
2024 2023
------------ ------------
Product revenue $ 359,498 $ 1,146,384
Service revenue(1) 1,754,376 2,231,023
----------- -----------
Total revenues 2,113,874 3,377,407
Cost of revenues 2,032,038 3,093,730
----------- -----------
Gross profit 81,836 283,677
Operating expenses:
Selling expenses 657,507 745,381
General and administrative
expenses 11,841,322 12,891,709
----------- -----------
Total operating expenses 12,498,829 13,637,090
----------- -----------
Gain from disposal of subsidiaries - (7,524)
Loss from operations (12,416,993) (13,345,889)
----------- -----------
Other income (expenses):
Interest income 6,035,650 3,221,667
Other income 333,151 1,042,669
Gain from investment 3,104 803,605
Net gain (loss) on disposal of
cryptocurrencies(1) (64,344) 708,935
Exchange loss (520,020) (787,895)
Government grants 27,854 12,800
Other expenses (61,744) (43,518)
----------- -----------
Total other income 5,753,651 4,958,263
Loss before income taxes benefit (6,663,342) (8,387,626)
Income taxes benefit 17,928 3,349
----------- -----------
Net loss (6,645,414) (8,384,277)
----------- -----------
Less: net loss attributable to
non-controlling interest (416,905) (566,280)
----------- -----------
Net loss attributable to Ebang
International Holdings Inc. $ (6,228,509) $ (7,817,997)
=========== ===========
Comprehensive loss
Net loss $ (6,645,414) $ (8,384,277)
Other comprehensive loss:
Foreign currency translation
adjustment (692,823) (2,857,279)
----------- -----------
Total comprehensive loss (7,338,237) (11,241,556)
Less: comprehensive loss
attributable to non-controlling
interest (503,573) (774,138)
----------- -----------
Comprehensive loss attributable to
Ebang International Holdings
Inc. $ (6,834,664) $(10,467,418)
=========== ===========
Net loss per ordinary share
attributable to Ebang
International Holdings Inc.
Basic $ (0.99) $ (1.25)
=========== ===========
Diluted $ (0.99) $ (1.25)
=========== ===========
Weighted average ordinary shares
outstanding
Basic 6,280,616 6,269,529
=========== ===========
Dilute 6,280,616 6,269,529
=========== ===========
(1 ) Certain prior year amounts have been reclassified
to conform to the current period's presentation. These
reclassifications had no impact on net earnings and
financial position.
(END) Dow Jones Newswires
August 23, 2024 16:10 ET (20:10 GMT)
Comments