$RTCJF
Fuwei Films (Holdings), Co. Ltd.
CIK:0001381074|SEC Filings
Consolidated Statements of Cash Flows - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Cash flows from operating activities: | |||
| Net loss from continuing operations | $ (18,671,528) | $ (83,084,079) | $ (7,219,611) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization expenses | 895,935 | 1,054,088 | 924,112 |
| Amortization of operating lease right of use assets | 294,778 | 289,678 | 554,618 |
| Impairment loss on goodwill | 1,415,341 | 10,636,358 | |
| Expected credit loss expenses | 19,409,914 | 5,467,941 | 9,080,967 |
| Deferred income tax expense (benefit) | (4,168,386) | (1,413,789) | 138,336 |
| Investment income on short-term investments | (76,768) | (145,976) | |
| Share-based compensation | 454,380 | 16,693,135 | 1,480,087 |
| Gain on disposal of a subsidiary | (4,970) | (402,044) | |
| Bargain purchase gain | (2,626,224) | ||
| Impairment loss from long term investment | 24,005,161 | ||
| Amortization of Convertible notes issuance costs | 542,105 | ||
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (1,981,549) | 7,682,935 | (13,712,344) |
| Accounts receivable - related parties | 628,274 | (541,392) | |
| Notes receivable | 180,232 | 106,147 | (184,984) |
| Prepayments | 30,875 | 2,387,941 | (3,402,031) |
| Prepayments - related parties | (64,908) | 289,748 | |
| Inventories | (7,796,442) | 851,902 | (3,528,555) |
| Deferred contract costs | 9,259,013 | ||
| Prepaid expenses and other current assets, net | (2,270,170) | (576,297) | (186,737) |
| Other non-current assets | (127,476) | 21,036,847 | 16,170 |
| Accounts and notes payable | (527,799) | (13,107,548) | 1,083,840 |
| Accounts payable - related parties | 70,989 | ||
| Contract liabilities | 6,981,311 | 870,667 | 2,346,272 |
| Contract liabilities - related parties | (70,834) | (13,664) | |
| Income tax payable | (82,616) | 1,300,178 | 58,856 |
| Deferred revenue | 399,431 | 522,156 | (571,837) |
| Operating lease liabilities | 8,124 | 34,825 | (606,503) |
| Due to related parties | 57,667 | (1,114) | |
| Accrued expenses and other liabilities | (3,060,193) | (1,733,392) | (2,752,748) |
| Net cash used in operating activities of continuing operations | (8,078,703) | (6,501,715) | (10,592,756) |
| Cash flows from investing activities | |||
| Acquisition of property and equipment | (19,370) | (1,383) | (63,457) |
| Capitalization of software development cost | (524,563) | ||
| Purchases of short-term investments | (7,280,539) | (20,683,188) | |
| Redemption of short-term investments | 12,966,608 | 22,611,227 | |
| Cash paid for business combinations, net of cash acquired | (70,011) | (513,755) | |
| Proceeds from disposal of a subsidiary, net of cash disposed of | 212,641 | ||
| Net cash provided by (used in) investing activities of continuing operations | (19,370) | 5,614,675 | 1,038,905 |
| Cash flows from financing activities: | |||
| Payment of deferred offering costs | (478,480) | ||
| Contribution from the non-controlling shareholders | 27,581 | ||
| Acquisition of non-controlling interest | (248,231) | ||
| Proceeds from issuance of convertible note | 6,580,000 | ||
| (Repayment of) proceeds from issuance of convertible note | (10,000,000) | 10,000,000 | |
| Loans from related parties | 30,000,000 | 15,000,000 | |
| Repayment of loans to related parties | (30,000,000) | (27,879,063) | |
| Proceeds from short-term borrowings | 6,281,758 | 11,283,576 | 5,530,043 |
| Repayment of short-term borrowings | (5,165,001) | (5,517,944) | (2,923,614) |
| Net cash (used in) provided by financing activities of continuing operations | 7,696,757 | (4,234,368) | (971,764) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash of continuing operations | 141,241 | 1,342,723 | (1,596,656) |
| Net decrease in cash, cash equivalents and restricted cash of continuing operations | (260,075) | (3,778,685) | (12,122,271) |
| Cash, cash equivalents and restricted cash at beginning of the year of continuing operations | 9,078,491 | 12,857,176 | 24,979,447 |
| Cash, cash equivalents and restricted cash at end of the year of continuing operations | 8,818,416 | 9,078,491 | 12,857,176 |
| Supplemental of cash flow information | |||
| Cash paid for interest expense | 248,122 | 839,083 | 93,299 |
| Cash paid for income tax | 20,374 | 89,114 | 36,969 |
| Non-cash investing and financing activities | |||
| Operating lease right of use assets obtained in exchange for operating lease liabilities | 656,562 | 32,958 | |
| Remeasurement of operating lease liabilities and right of use assets due to lease modification | 51,198 | ||
| Accretion of convertible redeemable preferred shares | 2,001,777 | ||
| Issuance of shares in exchange for acquisition of non-controlling equity interest in a controlling subsidiary | 1,019,772 | ||
| Conversion of convertible redeemable preferred shares | 69,253,178 | ||
| Shares issued to acquire Fuwei Films (Holdings) Co., Ltd. | 27,106,447 | ||
| Shares allotment in connection with the reverse acquisition | 12,676,378 | ||
| Ordinary shares issued as part of consideration for business combination | 13,877,605 | ||
| Receivable arising from disposal of a subsidiary | 30,000,000 | ||
| Payable arising from acquisition of non-controlling equity interest in a controlling subsidiary | 234,441 | ||
| Payable arising from business combinations | 413,088 | ||
| Cash and cash equivalents | 8,682,809 | 8,703,667 | 11,234,585 |
| Restricted cash | 135,607 | 374,824 | 1,622,591 |
| Total cash, cash equivalents and restricted cash at end of the year | $ 8,818,416 | $ 9,078,491 | $ 12,857,176 |
Consolidated Balance Sheets - USD ($) |
Jun. 30, 2025 |
Jun. 30, 2024 |
||
|---|---|---|---|---|
| Current assets | ||||
| Cash and cash equivalents | $ 8,682,809 | $ 8,703,667 | ||
| Restricted cash | 135,607 | 374,824 | ||
| Notes receivable | 177,663 | |||
| Accounts receivable, net | 6,751,545 | 23,971,889 | ||
| Prepayments | 7,279,898 | 6,595,391 | ||
| Prepayments – related parties | 65,847 | 64,908 | ||
| Inventories | 12,565,337 | 4,700,910 | ||
| Prepaid expenses and other current assets, net | 7,659,836 | 5,312,956 | ||
| Total current assets | 43,140,879 | 49,902,208 | ||
| Property and equipment, net | 94,513 | 130,105 | ||
| Intangible assets, net | 4,443,690 | 5,648,474 | ||
| Operating lease right of use assets, net | 643,933 | 700,108 | ||
| Deferred tax assets, net | 7,321,373 | 3,078,958 | ||
| Goodwill | 1,425,485 | |||
| Other non-current assets, net | 449,778 | 317,707 | ||
| Total non-current assets | 12,953,287 | 11,300,837 | ||
| TOTAL ASSETS | 56,094,166 | 61,203,045 | ||
| Current liabilities | ||||
| Short-term borrowings | 9,771,623 | 8,531,484 | ||
| Accounts payable | 9,478,895 | 10,059,514 | ||
| Contract liabilities | 16,189,160 | 9,076,583 | ||
| Income tax payable | 1,537,302 | 1,567,744 | ||
| Deferred revenue | 1,286,603 | 874,524 | ||
| Operating lease liabilities, current | 321,388 | 124,512 | ||
| Accrued expenses and other liabilities | 2,226,038 | 5,344,323 | ||
| Total current liabilities | 41,126,569 | 35,694,272 | ||
| Convertible notes payable | 4,692,105 | |||
| Deferred tax liabilities | 494,725 | 593,055 | ||
| Operating lease liabilities, non-current | 315,095 | 503,847 | ||
| Total non-current liabilities | 5,501,925 | 1,096,902 | ||
| Total Liabilities | 46,628,494 | 36,791,174 | ||
| Commitments and contingencies | ||||
| Shareholders’ equity | ||||
| Additional paid-in capital | [1] | 136,595,192 | 133,091,187 | |
| Statutory reserve | 1,117,828 | 1,117,828 | ||
| Accumulated deficit | (122,305,297) | (106,197,907) | ||
| Accumulated other comprehensive loss | (2,487,995) | (2,708,945) | ||
| Total shareholders’ equity attributable to Baijiayun Group Ltd | 12,922,028 | 25,304,089 | ||
| Non-controlling interests | (3,456,356) | (892,218) | ||
| Total shareholders’ equity | 9,465,672 | 24,411,871 | ||
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 56,094,166 | 61,203,045 | ||
| Class A Ordinary Shares | ||||
| Shareholders’ equity | ||||
| Ordinary shares, value | [1] | 1,704 | 1,330 | |
| Class B Ordinary Shares | ||||
| Shareholders’ equity | ||||
| Ordinary shares, value | [1] | 596 | 596 | |
| Related Party | ||||
| Current liabilities | ||||
| Accounts payable – related parties | 198,301 | |||
| Due to related parties | $ 117,259 | $ 115,588 | ||
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