Tungray Technologies Inc and Subsidiaries
Unaudited Condensed Consolidated Statements of Income (Loss) and
Comprehensive Loss
(Stated in U.S. Dollars, except for share data, or otherwise noted)
For the six months ended
June 30,
-------------------------------
2024 2023
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As Restated
(Unaudited) (Unaudited)
Revenue - products $ 5,435,786 $ 5,313,634
Revenue - related party - 42,790
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Total revenues 5,435,786 5,356,424
----------- ----------
Cost of revenue - products 2,897,866 2,460,361
Cost of revenue - related party - 32,858
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Total cost of revenues 2,897,866 2,493,219
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Gross profit 2,537,920 2,863,205
=========== ==========
Operating expenses:
Selling expenses 300,122 216,168
General and administrative expenses 2,735,835 2,106,952
Research and development expenses 447,234 430,809
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Total operating expenses 3,483,191 2,753,929
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(Loss) Income from operations (945,271) 109,276
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Other income
Other income, net 172,687 128,614
Lease income - related party 9,855 10,263
Financial expenses, net 44,262 22,074
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Total other income, net 226,804 160,951
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(Loss) Income before income taxes (718,467) 270,227
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Income tax expense (126,219) (105,491)
Net (loss) income (844,686) 164,736
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Less: net loss attributable to
noncontrolling interests (30,679) (38,426)
Net (loss) income attributable to
Tungray Technologies Inc (814,007) 203,162
=========== ==========
Net (loss) income (844,686) 164,736
Foreign currency translation
adjustment (629,472) (293,212)
----------- ----------
Comprehensive loss (1,474,158) (128,476)
=========== ==========
Less: comprehensive loss attributable
to noncontrolling interests (30,679) (36,732)
----------- ----------
Total comprehensive loss attributable
to Tungray Technologies Inc (1,443,479) (91,744)
=========== ==========
Weighted average number of common
shares outstanding - basic and
diluted 15,539,074 15,000,000
(Loss) Earnings per common share -
basic and diluted (0.05) 0.01
View original content:https://www.prnewswire.com/news-releases/tungray-technologies-inc-reports-unaudited-2024-first-half-financial-results-302340750.html
SOURCE Tungray Technologies Inc
(END) Dow Jones Newswires
December 31, 2024 17:00 ET (22:00 GMT)
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