GD Culture Group Limited reported financial results for the fiscal year ended December 31, 2023. The company recorded an operating loss of $12.0 million compared to $0.4 million in 2022, primarily due to increased investments in digital human technology and e-commerce initiatives. Selling and marketing expenses reached $4.7 million while R&D expenses were $2.1 million as the company expanded its AI-driven digital human creation and customization services.The company has strategically repositioned its business to focus on three key segments: AI-driven digital human creation, live streaming e-commerce, and interactive gaming. During 2023, GDC completed several capital raises totaling approximately $19.3 million through registered direct offerings to fund its growth initiatives. The company also acquired strategic software assets and established new subsidiaries to support its...Show More

GD Culture Group Limited reported financial results for the fiscal year ended December 31, 2023. The company recorded an operating loss of $12.0 million compared to $0.4 million in 2022, primarily due to increased investments in digital human technology and e-commerce initiatives. Selling and marketing expenses reached $4.7 million while R&D expenses were $2.1 million as the company expanded its AI-driven digital human creation and customization services.The company has strategically repositioned its business to focus on three key segments: AI-driven digital human creation, live streaming e-commerce, and interactive gaming. During 2023, GDC completed several capital raises totaling approximately $19.3 million through registered direct offerings to fund its growth initiatives. The company also acquired strategic software assets and established new subsidiaries to support its digital transformation.Looking ahead, GDC aims to leverage its AI technology platform to create digital avatars for marketing and entertainment applications while expanding its presence in live streaming e-commerce and gaming on TikTok. The company maintains a solid balance sheet with $5.2 million in cash and cash equivalents as of December 31, 2023, providing runway for continued investment in its digital content strategy.