Tue, Sep 3, 9:24 PM (133 days ago)
For the quarter ending June 30, 2024, Aixin Life International, Inc. reported a revenue decrease to $1,332,650 from $1,476,057 in the prior year, primarily driven by declines in direct sales, pharmacy, and hotel revenues. The company incurred a net loss of $176,783, worsening from a loss of $97,546 in 2023, attributed to increased operating costs, particularly in the hotel segment, and reduced sales. Operating expenses rose by 14% year-over-year, reflecting higher costs across segments, particularly in hotels and Runcangsheng. The company's cash position improved to $614,699 from $443,758, supported by financing activities totaling $796,550, mainly from related party advances. However, the working capital deficit remains significant at $4,429,478. Management acknowledges substantial doubt about the company's ability to continue as a going concern, citing ongoing losses and reliance on financing. Future operations may be impacted by global uncertainties, including economic conditions in China and geopolitical tensions. The company plans to enhance liquidity through cost reductions and potential equity offerings while navigating these challenges.