Revenues 12,204,385 8,997,506
Cost of revenues (6,748,376) (4,845,198)
------------- -------------
Gross profit 5,456,009 4,152,308
Operating expenses
Selling and marketing expenses (1,291,521) (2,250,336)
Research and development expenses (992,085) (1,178,086)
General and administrative expenses (1,117,020) (1,646,991)
------------- -------------
Total operating expenses (3,400,626) (5,075,413)
Government grants - 104
------------- -------------
Operating income (loss) 2,055,383 (923,001)
Changes in fair value of financial
instruments (16,412) (256,771)
Gain on extinguishment of convertible
debt - 247,283
Interest expenses (37,316) (71,363)
Interest income 31,268 52,693
------------- -------------
Income (loss) before income taxes 2,032,923 (951,159)
Income tax expense - -
------------- -------------
Net income (loss) 2,032,923 (951,159)
------------- -------------
Accretion of redeemable preference
shares to redemption value (698,646) (368,607)
------------- -------------
Undistributed earnings attributable to
redeemable preferred shareholders and
Series Seed preferred shareholders of
the Company (880,056) -
------------- -------------
Net income (loss) attributable to
ordinary shareholders 454,221 (1,319,766)
Net income (loss) 2,032,923 (951,159)
Other comprehensive loss
Foreign currency translation adjustment,
net of nil income taxes 1,774,143 53,874
------------- -------------
Total comprehensive income (loss) 3,807,066 (897,285)
============= =============
Earnings (loss) per ordinary share
-- Basic and diluted 0.001 (0.002)
Weighted average shares outstanding
used in calculating basic and diluted
earnings per share ordinary share
-- Basic and diluted 656,200,500 806,200,500
XCHG LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
AND OTHER COMPREHENSIVE INCOME (LOSS)
For the Six Months Ended
June 30,
----------------------------
2023 2024
------------ --------------
US$ US$
Revenues 19,589,628 20,149,953
Cost of revenues (11,038,743) (10,332,829)
------------ ------------
Gross profit 8,550,885 9,817,124
Operating expenses
Selling and marketing expenses (2,460,884) (4,379,024)
Research and development expenses (1,734,157) (2,165,705)
General and administrative expenses (2,088,247) (3,307,565)
------------ ------------
Total operating expenses (6,283,288) (9,852,294)
Government grants 2,367 31,206
------------ ------------
Operating income (loss) 2,269,964 (3,964)
Changes in fair value of financial
instruments (16,819) (416,109)
Gain on extinguishment of convertible debt - 247,283
Interest expenses (73,810) (115,156)
Interest income 52,028 81,003
------------ ------------
Income (loss) before income taxes 2,231,363 (206,943)
------------ ------------
Income tax expense - (11,298)
------------ ------------
Net income (loss) 2,231,363 (218,241)
------------ ------------
Accretion of redeemable preference shares
to redemption value (1,019,628) (740,852)
Undistributed earnings attributable to
redeemable preferred shareholders and
Series Seed preferred shareholders of the
Company (799,231) -
------------ ------------
Net income (loss) attributable to ordinary
shareholders 412,504 (959,093)
Net income (loss) 2,231,363 (218,241)
Other comprehensive loss
Foreign currency translation adjustments 956,545 33,689
------------ ------------
Total comprehensive income (loss) 3,187,908 (184,552)
============ ============
Earnings (loss) per ordinary share
-- Basic and diluted 0.001 (0.001)
Weighted average shares outstanding used
in calculating basic and diluted earnings
per share ordinary shares
-- Basic and diluted 656,200,500 806,200,500
XCHG LIMITED
UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS
For the Three Months Ended
June 30,
------------------------------
2023 2024
------------- ---------------
US$ US$
Net income (loss) 2,032,923 (951,159)
Add:
Changes in fair value of financial
instruments 16,412 256,771
Gain on extinguishment of convertible
debt - (247,283)
------------- -------------
Non-GAAP net income (loss) 2,049,335 (941,671)
Earnings (loss) per ordinary share
-- Basic and diluted 0.001 (0.002)
Add:
Changes in fair value of financial
instruments - -
Gain on extinguishment of convertible
debt - -
Non-GAAP earnings (loss) per ordinary
share -- basic and diluted 0.001 (0.002)
------------- -------------
XCHG LIMITED
UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS
For the Six Months Ended
June 30,
----------------------------
2023 2024
------------ --------------
US$ US$
Net income (loss) 2,231,363 (218,241)
Add:
Changes in fair value of financial
instruments 16,819 416,109
Gain on extinguishment of convertible debt - (247,283)
------------ ------------
Non-GAAP net income (loss) 2,248,182 (49,415)
Earnings (loss) per ordinary share 0.001 (0.001)
-- Basic and diluted
Add:
Changes in fair value of financial
instruments - -
Gain on extinguishment of convertible
debt - -
Non-GAAP earnings (loss) per ordinary
share -- basic and diluted 0.001 (0.001)
------------ ---
(MORE TO FOLLOW) Dow Jones Newswires
December 13, 2024 17:00 ET (22:00 GMT)
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