China Commercial Credit Inc
CIK:0001556266|SEC Filings
Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) |
3 Months Ended | 9 Months Ended | ||||
|---|---|---|---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2024 |
Sep. 30, 2023 |
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| Revenues | ||||||
| Total revenue | $ 37,162,036 | $ 33,911,726 | $ 91,717,070 | $ 103,001,660 | ||
| Cost of revenues | ||||||
| Total operating costs | (37,220,150) | (33,934,963) | (91,856,410) | (103,148,606) | ||
| Gross loss | (58,114) | (23,237) | (139,340) | (146,946) | ||
| Operating expenses | ||||||
| Selling, general, and administrative expenses | (2,416,176) | (3,034,313) | (7,487,247) | (14,108,225) | ||
| Total operating expenses | (2,416,176) | (3,034,313) | (7,487,247) | (14,108,225) | ||
| Net Operating Loss | (2,474,290) | (3,057,550) | (7,626,587) | (14,255,171) | ||
| Other income (expenses), net | ||||||
| Interest income | 7,354,682 | 5,124,728 | 20,113,780 | 14,482,016 | ||
| Interest expenses | (115,082) | (129,716) | (344,680) | (352,938) | ||
| Amortization of beneficial conversion feature relating to issuance of convertible promissory notes | (228,250) | (92,552) | (713,292) | |||
| Other income, net | 4,308 | 8,227 | 1,595 | 7,130 | ||
| Total other income, net | 7,243,908 | 4,774,989 | 19,678,143 | 13,422,916 | ||
| Net income (loss) before income taxes | 4,769,618 | 1,717,439 | 12,051,556 | (832,255) | ||
| Income tax expenses | (1,596,361) | (1,037,781) | (4,298,712) | (2,875,040) | ||
| Net income (loss) | 3,173,257 | 679,658 | 7,752,844 | (3,707,295) | ||
| Less: Net loss attributable to non-controlling interests | (366,205) | (382,556) | (1,125,705) | (1,166,557) | ||
| Net income (loss) attributable to BAIYU Holdings, Inc.’s Stockholders’ | 3,539,462 | 1,062,214 | 8,878,549 | (2,540,738) | ||
| Comprehensive income (loss) | ||||||
| Net income (loss) | 3,173,257 | 679,658 | 7,752,844 | (3,707,295) | ||
| Foreign currency translation adjustments | 10,429,678 | 2,156,075 | 5,113,691 | (12,025,878) | ||
| Comprehensive income (loss) | 13,602,935 | 2,835,733 | 12,866,535 | (15,733,173) | ||
| Less: Total comprehensive loss attributable to non-controlling interests | (366,205) | (382,556) | (1,125,705) | (1,166,557) | ||
| Comprehensive income (loss) attributable to BAIYU Holdings, Inc.’s Stockholders | $ 13,969,140 | $ 3,218,289 | $ 13,992,240 | $ (14,566,616) | ||
| Income (loss) per share - basic and diluted | ||||||
| Continuing Operation- income (loss) per share – basic (in Dollars per share) | [1] | $ 0.08 | $ 0.23 | $ 0.47 | $ (1.21) | |
| Continuing Operation- income (loss) per share –diluted (in Dollars per share) | [1] | $ 0.07 | $ 0.17 | $ 0.35 | $ (0.93) | |
| Weighted Average Shares Outstanding-Basic (in Shares) | [1] | 38,782,001 | 3,016,281 | 16,671,646 | 3,074,862 | |
| Weighted Average Shares Outstanding- Diluted (in Shares) | [1] | 44,146,337 | 3,948,068 | 22,035,982 | 4,006,649 | |
| Sales of commodity products – third parties | ||||||
| Revenues | ||||||
| Total revenue | $ 37,162,036 | $ 33,883,096 | $ 91,714,259 | $ 102,937,623 | ||
| Supply chain management services-third parties | ||||||
| Revenues | ||||||
| Total revenue | 28,630 | 2,811 | 64,037 | |||
| Cost of revenues | ||||||
| Total operating costs | (18,157) | (16) | (41,540) | |||
| Commodity product sales-third parties | ||||||
| Cost of revenues | ||||||
| Total operating costs | $ (37,220,150) | $ (33,916,806) | $ (91,856,394) | $ (103,107,066) | ||
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Unaudited Condensed Consolidated Balance Sheets - USD ($) |
Sep. 30, 2024 |
Dec. 31, 2023 |
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|---|---|---|---|---|
| Current Assets | ||||
| Cash and cash equivalents | $ 327,318 | $ 1,516,358 | ||
| Loans receivable from third parties | 301,335,694 | 240,430,865 | ||
| Inventories, net | 278,129 | 259,806 | ||
| Other current asset | 13,071,773 | 10,134,829 | ||
| Total current assets | 315,012,914 | 252,341,858 | ||
| Non-Current Assets | ||||
| Plant and equipment, net | 23,250 | 32,090 | ||
| Goodwill | 159,003,547 | 157,542,081 | ||
| Intangible assets, net | 39,705,485 | 45,285,617 | ||
| Right-of-use assets, net | 15,300 | 83,375 | ||
| Total non-current assets | 198,747,582 | 202,943,163 | ||
| Total Assets | 513,760,496 | 455,285,021 | ||
| Current Liabilities | ||||
| Accounts payable | 603 | |||
| Bank borrowings | 997,492 | 1,057,648 | ||
| Third party loans payable | 499,019 | 476,627 | ||
| Contract liabilities | 5,227,543 | 3,090,201 | ||
| Income tax payable | 21,319,296 | 16,187,826 | ||
| Lease liabilities | 16,186 | 86,691 | ||
| Other current liabilities | 7,837,297 | 6,578,349 | ||
| Convertible promissory notes | 4,168,304 | 4,284,622 | ||
| Total current liabilities | 40,065,740 | 31,761,964 | ||
| Non-Current Liabilities | ||||
| Deferred tax liabilities | 1,708,224 | 2,256,696 | ||
| Total non-current liabilities | 40,182,916 | 40,377,752 | ||
| Total liabilities | 80,248,656 | 72,139,716 | ||
| Commitments and Contingencies (Note 17) | ||||
| Equity | ||||
| Common stock (par value $0.001 per share, 600,000,000 shares authorized; 49,945,235 and 19,335,220 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively)* | [1] | 49,945 | 19,335 | |
| Additional paid-in capital | 476,450,077 | 438,980,687 | ||
| Statutory surplus reserve | 2,602,667 | 2,602,667 | ||
| Accumulated deficit | (30,641,615) | (39,520,164) | ||
| Accumulated other comprehensive loss | (11,031,061) | (16,144,752) | ||
| Total BAIYU Shareholders’ Equity | 437,430,013 | 385,937,773 | ||
| Non-controlling interest | (3,918,173) | (2,792,468) | ||
| Total Equity | 433,511,840 | 383,145,305 | ||
| Total Liabilities and Equity | 513,760,496 | 455,285,021 | ||
| Related Party | ||||
| Non-Current Liabilities | ||||
| Due to related parties | $ 38,474,692 | $ 38,121,056 | ||
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