NANPING, China, Aug. 3, 2023
/PRNewswire/ -- Golden Heaven Group Holdings Ltd. ("Golden Heaven" or the "Company") (Nasdaq: GDHG)
is an offshore holding company incorporated in the Cayman Islands with no material operations of
its own. Through its Chinese operating entities, the Company
manages and operates six properties consisting of amusement parks,
water parks and complementary recreational facilities. The Company
today announced its unaudited financial results for the six months
ended March 31, 2023 ("First Half
2023").
First Half 2023 Financial Highlights
(RMB)
|
|
Six months
ended
March 31,
2023
|
|
|
Six months
ended
March 31,
2022
|
|
|
Change
(%)
|
|
Revenue
|
|
|
140,101,486
|
|
|
|
132,119,961
|
|
|
|
6.0
|
%
|
Gross profit
|
|
|
100,991,984
|
|
|
|
93,955,044
|
|
|
|
7.5
|
%
|
Gross margin
|
|
|
71.37
|
%
|
|
|
70.35
|
%
|
|
|
1.02
|
*pp
|
Income from
operations
|
|
|
72,854,273
|
|
|
|
65,575,322
|
|
|
|
11.1
|
%
|
Net income
|
|
|
51,785,658
|
|
|
|
46,254,030
|
|
|
|
12.0
|
%
|
Earnings per
share
|
|
|
1.05
|
|
|
|
0.45
|
|
|
|
135.1
|
%
|
|
* Notes: pp represents
percentage points
|
- Revenue was RMB140.1 million in
the First Half 2023, an increase of 6.0% from RMB132.1 million in the same period of last
year.
- Gross profit was RMB101.0 million
in the First Half 2023, an increase of 7.5% from RMB94.0 million in the same period of last year.
Gross margin was 71.37% in the First Half 2023, an increase of 1.02
percentage points from 70.35% in the same period of last year.
- Income from operations was RMB72.9
million in the First Half 2023, an increase of 11.1% from
RMB65.6 million in the same period of
last year.
- Net income was RMB51.8 million in
the First Half 2023, an increase of 12.0% from RMB46.3 million in the same period of last
year.
- Earnings per share was RMB1.05 in
the First Half 2023, an increase of 135.1% from RMB0.45 in the same period of last year.
First Half 2023 Financial Results
Revenue
(USD)
|
|
Six months
ended
March 31,
2023
|
|
|
Six months
ended
March 31,
2022
|
|
|
Change
|
|
|
Change
(%)
|
|
Sales of in-park
recreation
|
|
$
|
19,563,330
|
|
|
$
|
20,222,318
|
|
|
|
(658,988)
|
|
|
|
(3.26)
|
%
|
Rental
income
|
|
|
497,882
|
|
|
|
534,616
|
|
|
|
(36,734)
|
|
|
|
(6.87)
|
%
|
Total
revenue
|
|
$
|
20,061,212
|
|
|
$
|
20,756,934
|
|
|
|
(695,722)
|
|
|
|
(3.35)
|
%
|
Given the substantial appreciation of the United States dollar during the previous
fiscal year, our financial results, when represented in USD, do not
adequately capture the complete financial performance of the
Company. Consequently, in order to provide a more comprehensive
understanding, we will supplement our USD-based financial reporting
with key financial metrics expressed in our local currency, the
Renminbi (RMB).
Our revenue is derived from sales of in-park recreation and
rental income. The total revenue decreased by $695,722, or 3.35%, from $20,756,934 for the six months ended March 31, 2022 to $20,061,212 for the six months ended March 31, 2023, or increased by approximately
6.0% from RMB132,119,961 to
RMB140,101,486 for the corresponding
period.
No other revenue from other services occurred in the first six
months of fiscal year 2023.
Our revenue from each of our revenue segments is summarized as
follows:
For the six months ended March 31,
2023:
(USD)
|
|
Sales of
in-park
recreation
|
|
|
Rental
income
|
|
|
Total
|
|
Reportable segment
revenue
|
|
$
|
19,563,330
|
|
|
$
|
497,882
|
|
|
$
|
20,061,212
|
|
Inter-segment
loss
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
Revenue from external
customers
|
|
$
|
19,563,330
|
|
|
$
|
497,882
|
|
|
$
|
20,061,212
|
|
Segment gross
profit
|
|
$
|
13,963,218
|
|
|
$
|
497,882
|
|
|
$
|
14,461,100
|
|
Gross margin
|
|
|
71.37
|
%
|
|
|
100.00
|
%
|
|
|
72.08
|
%
|
For the six months ended March 31, 2022:
(USD)
|
|
Sales of
in-park
recreation
|
|
|
Rental
income
|
|
|
Total
|
|
Reportable segment
revenue
|
|
$
|
20,222,318
|
|
|
$
|
534,616
|
|
|
$
|
20,756,934
|
|
Inter-segment
loss
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
Revenue from external
customers
|
|
$
|
20,222,318
|
|
|
$
|
534,616
|
|
|
$
|
20,756,934
|
|
Segment gross
profit
|
|
$
|
14,226,353
|
|
|
$
|
534,616
|
|
|
$
|
14,760,969
|
|
Gross margin
|
|
|
70.35
|
%
|
|
|
100
|
%
|
|
|
71.11
|
%
|
Sales of in-park recreation
For the six months ended March 31,
2023, revenue from sales of in-park recreation increased by
approximately RMB7.9 million compared
to the same period in 2022. Such increase was mainly attributable
to an increase in visitors after China lessened the COVID-19 travel
restrictions in late 2022. The USD amount for the period decreased
by approximately $0.66 million
compared to the same period last year due to the impact of exchange
rate changes.
Rental income
For the six months ended March 31,
2023, rental income increased by approximately RMB0.07 million compared to the same period in
2022. Such increase was mainly due to the rental payment from the
Children's Castle project, which started to generate revenue in
Yueyang Amusement World on October 1,
2022. The Children's Castle project has an 18-year term that
will expire on September 30, 2039,
unless it is earlier terminated. The rental payment for the
Children's Castle project is RMB100,000 per year and increases by 10% every
three years. The rental payment from October
1, 2021 to September 30, 2022
was waived by the Company. The decrease in rental income of
approximately $0.04 million for the
six months ended March 31, 2023
compared to the same period last year was due to the impact of
exchange rate changes.
Cost of Revenue
Cost of revenue increased by RMB0.88
million for the six months ended March 31, 2023 compared to the same period in
2022. Such increase was mainly because the number of visitors
increased after China lessened the
COVID-19 travel restrictions in late 2022, and the employees' wages
and social security expenses increased by RMB1,091,831 compared to the same period in 2022.
Our cost of revenue decreased by $395,853, or 6.60%, from $5,995,965 for the six months March 31, 2022 to US$5,600,112 for the six months ended
March 31, 2023. The decrease in the
USD amount of costs in the current period compared to the same
period last year was due to the impact of exchange rate
changes.
Gross Profit
For the six months ended March 31,
2023, gross profit from sales of in-park recreation
increased by approximately RMB7.10
million compared to the same period in 2022, primarily due
to increased revenue from higher visitor numbers, as the amusement
park largely resumed normal operations during the period in
response to the reduced COVID-19 restrictions in China. The decrease in gross profit in USD for
the period compared to the same period last year was caused by the
impact of exchange rate changes.
The profit margin of sales of in-park recreation remained
stable, with a modest increase from 70.35% for the six months ended
March 31, 2022 to 71.37% for the six
months ended March 31, 2023, as a
result of enhanced operations and the relatively stable cost of
revenue.
Operating Expenses
Our total operating expenses decreased by $429,590, or 9.63%, from $4,458,645 for the six months ended March 31, 2022 to $4,029,055 for the six months ended March 31, 2023. This decrease was mainly
attributable to (i) an increase of approximately $0.59 million in general and administrative
expenses, or G&A expenses, and (ii) a decrease of approximately
$1.02 million in selling
expenses.
The increase of G&A expenses in this period was due to an
increase of approximately $0.59
million in consulting fees, mainly consisting of attorney
fees, audit fees and brokerage fees in relation to the company's
recent IPO (as defined below).
The decrease in selling expenses was attributable to a decrease
of approximately US$1.02 million in
advertising fees. The company decided to reduce its advertising
expenses around March 2022 when the
company's financial performance suffered from the ongoing impact of
the pandemic.
Other (expense) income, net
Our other expense decreased by $371,698, or 88.67%, from $419,188 for the six months ended March 31, 2022 to US$47,490 for the six months ended March 31, 2023. It was primarily attributable to
a decrease in the disposal of property and equipment.
Income tax expense
Our income tax expense increased by $353,020, or 13.49%, from $2,616,317 for the six months ended March 31, 2022 to $2,969,337 for the six months ended March 31, 2023. We are subject to the standard
income tax rate of 25% under the PRC tax laws.
Net income
Our net income increased by $148,400, or 2.04%, from $7,266,818 for the six months ended March 31, 2022 to $7,415,218 for the six months ended March 31, 2023, or increased by approximately
12.0% from RMB46,254,030 to
RMB51,785,658 for the corresponding
period. Such change was the result of the combination of the
changes as discussed above.
Cash and Cash Equivalents
As of March 31, 2023, we had cash
and cash equivalents of approximately $28.26
million, working capital of approximately negative
$16.64 million and total
shareholders' equity of approximately $58.80
million, compared to cash and cash equivalents of
approximately $22.45 million, working
capital of approximately $8.42
million and total shareholders' equity of approximately
$49.61 million, respectively, as of
September 30, 2022.
Recent Events
On April 14, 2023, the Company
closed its initial public offering (the "IPO") of 1,750,000
ordinary shares, par value $0.0001
per share (the "Ordinary Shares"). The Ordinary Shares were priced
at $4.00 per share. The Ordinary
Shares were previously approved for listing on The Nasdaq Capital
Market and commenced trading under the ticker symbol "GDHG" on
April 12, 2023.
In connection with the IPO, the Company issued a press release
on April 12, 2023, announcing the
pricing of the IPO and a press release on April 14, 2023, announcing the closing of the
IPO, respectively.
Conference Call Information
The Company's management team will hold a conference call to
discuss its financial results at 8:00
A.M. U.S. Eastern Time on August 3,
2023 (8:00 P.M. Beijing Time
on August 3, 2023). Details for the
conference call are as follows:
Date:
|
August 3,
2023
|
Time:
|
8:00 am U.S.
Eastern Time
|
United States Toll
Free:
|
1-888-346-8982
|
International:
|
1-412-902-4272
|
Hong Kong Toll
Free
|
800-905945
|
China Toll
Free
|
4001-201203
|
Conference
ID
|
Golden Heaven Group
Holdings Ltd.
|
Please dial in at least 15 minutes before the commencement of
the call to ensure timely participation.
For those unable to participate, an audio replay of the
conference call will be available from approximately one hour after
the end of the live call until August 10, 2023. The dial-in
for the replay is +1-877-344-7529 within the United
States or +1-412-317-0088 internationally. The replay access
code is No. 5069410.
A live and archived webcast of the conference call will be
available at the Company's investor relations website
at https://ir.jsyoule.com/.
About Golden Heaven
The Company is an offshore holding company incorporated in the
Cayman Islands with no material
operations of its own. Through its Chinese operating entities, the
Company manages and operates six properties consisting of amusement
parks, water parks and complementary recreational facilities. The
parks of the operating entities occupy approximately 426,560 square
meters of land in the aggregate and are located in geographically
diverse markets across the south of China. Due to the geographical locations of
the parks and the ease of travel, the parks are easily accessible
to an aggregate population of approximately 21 million people. The
parks offer a broad selection of exhilarating and recreational
experiences, including both thrilling and family-friendly rides,
water attractions, gourmet festivals, circus performances, and
high-tech facilities. As of the date of this announcement, the
parks collectively contain approximately 139 rides and attractions.
For more information, please visit the Company's website at
https://ir.jsyoule.com/.
Forward-Looking Statements
All statements other than statements of historical fact in
this announcement are forward-looking statements, within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements involve known
and unknown risks and uncertainties and are based on current
expectations and projections about future events and financial
trends that the Company believes may affect its financial
condition, results of operations, business strategy, and financial
needs. Investors can identify these forward-looking statements by
words or phrases such as "may," "will," "expect," "anticipate,"
"aim," "estimate," "intend," "plan," "believe," "potential,"
"continue," "is/are likely to," or other similar expressions. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results and encourages investors to
review other factors that may affect its future results in the
Company's registration statement and in its other filings with the
SEC.
For more information, please contact:
Golden Heaven Group Holdings Ltd.
Email:
group@jsyoule.com
Ascent Investors Relations LLC
Tina Xiao
Phone: +1-917-609-0333
Email: tina.xiao@ascent-ir.com
GOLDEN HEAVEN GROUP
HOLDING LTD.
|
|
CONDENSED
CONSOLIDATED BALANCE SHEETS
|
|
(Unaudited)
|
|
|
|
|
|
March 31,
2023
|
|
|
September 30,
2022
|
|
ASSETS
|
|
|
|
|
|
|
CURRENT
ASSETS
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$
|
28,262,926
|
|
|
$
|
22,447,145
|
|
Advances to suppliers
and other current assets
|
|
|
3,897,166
|
|
|
|
1,987,750
|
|
Other
receivables
|
|
|
54,158
|
|
|
|
52,370
|
|
TOTAL CURRENT
ASSETS
|
|
$
|
32,214,250
|
|
|
$
|
24,487,265
|
|
|
|
|
|
|
|
|
|
|
Property, plant and
equipment, net
|
|
$
|
27,200,709
|
|
|
$
|
27,782,087
|
|
Right of Use
Assets
|
|
|
6,650,711
|
|
|
|
6,648,370
|
|
Other non-current
assets
|
|
|
14,582,889
|
|
|
|
14,167,421
|
|
TOTAL ASSETS
|
|
$
|
80,648,559
|
|
|
$
|
73,085,143
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
|
|
|
CURRENT
LIABILITIES
|
|
|
|
|
|
|
|
|
Accrued expenses and
other payables
|
|
$
|
5,838,701
|
|
|
$
|
5,855,707
|
|
Advances from
customers
|
|
|
9,184,917
|
|
|
|
9,645,494
|
|
Loan
payables
|
|
|
145,524
|
|
|
|
140,849
|
|
Lease
liability-current
|
|
|
401,332
|
|
|
|
427,855
|
|
TOTAL CURRENT
LIABILITIES
|
|
$
|
15,570,474
|
|
|
$
|
16,069,905
|
|
|
|
|
|
|
|
|
|
|
NON-CURRENT
LIABILITIES
|
|
|
|
|
|
|
|
|
Lease
liability-non-current
|
|
|
6,249,379
|
|
|
|
6,220,515
|
|
Other non-current
liabilities
|
|
|
21,101
|
|
|
|
282,402
|
|
Amount Due to Related
Party
|
|
$
|
5,000
|
|
|
$
|
904,965
|
|
TOTAL NON-CURRENT
LIABILITIES
|
|
|
6,275,480
|
|
|
|
7,407,882
|
|
TOTAL
LIABILITIES
|
|
$
|
21,845,954
|
|
|
$
|
23,477,787
|
|
|
|
|
|
|
|
|
|
|
STOCKHOLDER'S
EQUITY
|
|
|
|
|
|
|
|
|
Golden Heaven Group
Holdings Ltd., Stockholders' equity
|
|
|
|
|
|
|
|
|
Common stock, $0.0001
par value; 500,000,000 shares authorized; 50,000,000
shares and 50,000,000 shares issued as of March
31, 2023 and September 30,
2022, respectively
|
|
$
|
5,000
|
|
|
$
|
5,000
|
|
Additional paid-in
capital
|
|
|
3,372,733
|
|
|
|
3,372,733
|
|
Retained
Earnings
|
|
|
56,515,135
|
|
|
|
49,099,917
|
|
Accumulated other
comprehensive income
|
|
|
(1,090,263)
|
|
|
|
(2,870,294)
|
|
Total stockholders'
equity
|
|
|
58,802,605
|
|
|
|
49,607,356
|
|
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY
|
|
$
|
80,648,559
|
|
|
$
|
73,085,143
|
|
GOLDEN HEAVEN GROUP
HOLDING LTD.
|
|
CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS AND
|
|
COMPREHENSIVE INCOME (LOSS)
|
|
(Unaudited)
|
|
|
|
|
|
Six Months Ended
March 31,
|
|
|
|
2023
|
|
|
2022
|
|
Revenue
|
|
$
|
20,061,212
|
|
|
$
|
20,756,934
|
|
Cost of
revenue
|
|
|
5,600,112
|
|
|
|
5,995,965
|
|
Gross profit
|
|
|
14,461,100
|
|
|
|
14,760,969
|
|
|
|
|
|
|
|
|
|
|
Operating
Expenses
|
|
|
|
|
|
|
|
|
General and
administrative expenses
|
|
|
2,166,293
|
|
|
|
1,571,809
|
|
Selling
expenses
|
|
|
1,862,762
|
|
|
|
2,886,836
|
|
Total operating
expenses
|
|
|
4,029,055
|
|
|
|
4,458,645
|
|
Income from
operations
|
|
|
10,432,045
|
|
|
|
10,302,324
|
|
|
|
|
|
|
|
|
|
|
Other (expenses)
income
|
|
|
|
|
|
|
|
|
Interest
income
|
|
|
32,517
|
|
|
|
18,558
|
|
Interest
expenses
|
|
|
(3,030)
|
|
|
|
(3,054)
|
|
Other expenses,
net
|
|
|
(76,977)
|
|
|
|
(434,692)
|
|
Total other expenses,
net
|
|
|
(47,490)
|
|
|
|
(419,188)
|
|
|
|
|
|
|
|
|
|
|
Income before Income
Tax
|
|
|
10,384,555
|
|
|
|
9,883,136
|
|
Income tax
provision/expense
|
|
|
(2,969,337)
|
|
|
|
(2,616,317)
|
|
Net
Income
|
|
$
|
7,415,218
|
|
|
$
|
7,266,819
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive
income
|
|
|
|
|
|
|
|
|
Income
|
|
$
|
7,415,218
|
|
|
$
|
7,266,819
|
|
Foreign currency
translation
|
|
|
1,780,031
|
|
|
|
736,594
|
|
Comprehensive
income
|
|
|
9,195,249
|
|
|
|
8,003,413
|
|
Basic and diluted
earnings per share
|
|
$
|
0.15
|
|
|
$
|
0.07
|
|
Basic and diluted
weighted average number of ordinary shares
|
|
|
50,000,000
|
|
|
|
100,000,000
|
|
GOLDEN HEAVEN GROUP
HOLDING LTD.
|
|
CONDENSED
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
|
|
(Unaudited)
|
|
|
|
Six months
ended March 31, 2022
|
|
|
|
|
|
Common
Stock
|
|
|
Additional
paid-in
|
|
|
Retained
|
|
|
Accumulative
other
comprehensive
|
|
|
|
|
|
|
Shares
|
|
|
Amount
|
|
|
capital
|
|
|
earnings
|
|
|
income
|
|
|
Total
|
|
Balance at September
30,
2021
|
|
|
100,000,000
|
|
|
$
|
10,000
|
|
|
$
|
3,009,476
|
|
|
$
|
35,134,800
|
|
|
$
|
1,644,411
|
|
|
$
|
39,798,687
|
|
Net income
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
7,266,819
|
|
|
|
—
|
|
|
|
7,266,819
|
|
Foreign currency
translation
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
736,594
|
|
|
|
736,594
|
|
Balance at March 31,
2022
|
|
|
100,000,000
|
|
|
$
|
10,000
|
|
|
$
|
3,009,476
|
|
|
$
|
42,401,619
|
|
|
$
|
2,381,005
|
|
|
$
|
47,802,100
|
|
|
|
Six months
ended March 31, 2023
|
|
|
|
|
|
Common
Stock
|
|
|
Additional
paid-in
|
|
|
Retained
|
|
|
Accumulative
other
comprehensive
|
|
|
|
|
|
|
Shares
|
|
|
Amount
|
|
|
capital
|
|
|
earnings
|
|
|
income
|
|
|
Total
|
|
Balance at
September 30,
2022
|
|
|
50,000,000
|
|
|
$
|
5,000
|
|
|
$
|
3,372,733
|
|
|
$
|
49,099,917
|
|
|
$
|
(2,870,294)
|
|
|
$
|
49,607,356
|
|
Net
income
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
7,415,218
|
|
|
|
—
|
|
|
|
7,415,218
|
|
Foreign currency
translation
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
1,780,031
|
|
|
|
1,780,031
|
|
Balance at
March 31, 2023
|
|
|
50,000,000
|
|
|
$
|
5,000
|
|
|
$
|
3,372,733
|
|
|
$
|
56,515,135
|
|
|
$
|
(1,090,263)
|
|
|
$
|
58,802,605
|
|
GOLDEN HEAVEN GROUP
HOLDING LTD.
|
|
CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS
|
|
(Unaudited)
|
|
|
|
|
|
Six Months Ended
March 31,
|
|
|
|
2023
|
|
|
2022
|
|
CASH
FLOWS FROM OPERATING ACTIVITIES
|
|
|
|
|
|
|
Net income
|
|
$
|
7,415,218
|
|
|
$
|
7,266,819
|
|
Adjustments to
reconcile net income to net cash provided by operating
activities
|
|
|
|
|
|
|
|
|
Depreciation and
amortization
|
|
|
1,479,463
|
|
|
|
1,668,808
|
|
Disposal
loss
|
|
|
-
|
|
|
|
399,241
|
|
Changes in operating
assets and liabilities
|
|
|
|
|
|
|
|
|
Other
receivable
|
|
|
(49)
|
|
|
|
(1,230)
|
|
Advances to suppliers
and other current assets
|
|
|
(1,759,938)
|
|
|
|
(1,604,488)
|
|
Accrued
expenses
|
|
|
(456,848)
|
|
|
|
(1,351,262)
|
|
Advances from
customers
|
|
|
(768,227)
|
|
|
|
(855,380)
|
|
Net cash provided by
operating activities
|
|
|
5,909,619
|
|
|
|
5,522,508
|
|
|
|
|
|
|
|
|
|
|
CASH FLOWS FROM
INVESTING ACTIVITIES
|
|
|
|
|
|
|
|
|
Proceeds from disposal
of equipment
|
|
|
-
|
|
|
|
72,269
|
|
Additions to property,
plant and equipment
|
|
|
-
|
|
|
|
(52,097)
|
|
Net cash provided by
(used in) investing activities
|
|
|
-
|
|
|
|
20,172
|
|
|
|
|
|
|
|
|
|
|
CASH FLOWS FROM
FINANCING ACTIVITIES
|
|
|
|
|
|
|
|
|
Proceeds from amounts
due from related parties
|
|
|
|
|
|
|
(15,594)
|
|
Proceeds from related
party loan
|
|
|
-
|
|
|
|
453,772
|
|
Repayment of amounts
due to related parties
|
|
|
(899,965)
|
|
|
|
(8,528,869)
|
|
Proceeds from loan
payable
|
|
|
-
|
|
|
|
157,525
|
|
Repayment of
loans
|
|
|
-
|
|
|
|
(148,025)
|
|
Net cash used in
financing activities
|
|
|
(899,965)
|
|
|
|
(8,081,191)
|
|
Effect of change in
exchange rate
|
|
|
806,128
|
|
|
|
314,631
|
|
|
|
|
|
|
|
|
|
|
NET (DECREASE)
INCREASE IN CASH AND CASH EQUIVALENTS
|
|
|
5,815,782
|
|
|
|
(2,223,880)
|
|
Cash and cash
equivalents, beginning of period
|
|
|
22,447,144
|
|
|
|
12,875,358
|
|
Cash and cash
equivalents, end of period
|
|
$
|
28,262,926
|
|
|
$
|
10,651,478
|
|
|
|
|
|
|
|
|
|
|
SUPPLEMENTAL CASH FLOW
INFORMATION:
|
|
|
|
|
|
|
|
|
Cash paid for interest
expense
|
|
|
3,030
|
|
|
|
3,054
|
|
Cash paid for income
tax
|
|
|
3,461,277
|
|
|
|
2,864,437
|
|
View original
content:https://www.prnewswire.com/news-releases/golden-heaven-group-holdings-ltd-announces-financial-results-for-the-first-half-of-fiscal-year-2023-301892281.html
SOURCE Golden Heaven Group Holdings Ltd.