Fri, Jun 28, 8:07 PM (71 days ago)
ZW Data Action Technologies Inc. (formerly ChinaNet Online Holdings, Inc.) reported revenues of $30.59 million for the year ended December 31, 2023, a 16.5% increase from $26.24 million in 2022. The company incurred a net loss attributable to shareholders of $5.97 million, an improvement from a $9.79 million loss in 2022. Operating expenses decreased to $5.58 million from $10.93 million. The company executed a 1-for-5 reverse stock split effective January 18, 2023, reducing outstanding shares. ZW Data Action Technologies faces risks including economic downturns, competition, regulatory scrutiny, and cybersecurity threats. The company operates primarily through VIEs in China, which may be subject to regulatory changes affecting foreign investments. The company's future outlook depends on navigating these risks and maintaining compliance with evolving Chinese regulations.