譲渡異議申立書 99.2
ニサンインターナショナルエンタープライズデベロップメントグループは、2024年上半期の未監査財務報告を公表しました。
2024年10月15日、中国上海― ニサンインターナショナルエンタープライズデベロップメントグループ株式会社（以下「ニサン」または「当社」）（ナスダック：NISN）は、テクノロジー、業種、およびファイナンスの統合を通じた革新的な包括的なサプライチェーンソリューションを提供する企業として、2024年6月30日までの未監査の財務結果を発表しました。
2024年6月30日までの6ヶ月間の財務結果
全セクターで年々比較を行います（「yoy」） 基準。
売上高
| ● | 合計売上高 6月30日を終えた半年間で、売上高はビジネスの供給チェーン取引から大幅に増加し、1億9250万ドルから1億2690万ドルに52%増加しました。 |
| ● | サプライチェーン取引ビジネスの売上高 前期と同じ時期の売上高から、1億4210万ドルに114%増の6620万ドルから、主に会社のgoldトレーディングビジネスにおけるシェア拡大のために増加しました。 |
| ● | サービスからの売上高 前期と比べて17％減の5,050万ドルから6,070万ドルに減少しました。 |
| ● | 中小型株（SME）金融ソリューション ビジネスから得られた収益は、前の財務年度と同じ期間に比べて16%減の4850万ドルから5800万ドルに減少しました。これは主に、中国経済の減速による金融市場状況の厳しい影響の結果です。 |
| ● | サプライチェーンファイナンスソリューションから生み出された売上高は、昨年度と同期間と比較して、30%減の$190万になりました。これは、中国経済の減速による金融市場の困難な状況が主な要因です。企業は引き続き積極的に中国におけるその他のビジネス市場の機会を探しています。 |
| 6か月間の期間 For the Six Months Ending | 変更 | |||||||||||||||||||||||
| 2024 | % | 2023 | % | ($) | (%) | |||||||||||||||||||
| （未確定） | （未確定） | |||||||||||||||||||||||
| 売上高は営業から発生します: | ||||||||||||||||||||||||
| サプライチェーン取引ビジネスからの売上高 | $ | 142,079,851 | 74 | % | $ | 66,249,853 | 52 | % | 75,829,998 | 114 | % | |||||||||||||
| サービスから発生する売上高: | ||||||||||||||||||||||||
| 中小型株の資金調達ソリューション | 48,527,509 | 25 | % | 57,956,690 | 46 | % | (9,429,181 | ) | (16 | )% | ||||||||||||||
| サプライチェーンファイナンスソリューション | 1,929,533 | 1 | % | 2,737,265 | 2 | % | (807,732 | ) | (30 | )% | ||||||||||||||
| 融資サービスの売上高合計 | 50,457,042 | 26 | % | 60,693,955 | 48 | % | (10,236,913 | ) | (17 | )% | ||||||||||||||
| 合計売上高 | $ | 192,536,893 | 100 | % | $ | 126,943,808 | 100 | % | 65,593,085 | 52 | % | |||||||||||||
売上高の原価
売上高の費用は、2024年6月30日までの6か月間で175.3億ドルでした。これは、前期と比較して1億710万ドル増の10710万ドルであり、64%増加しました。この増加は、サプライチェーン取引ビジネスの売上高の増加に伴う購入および販売数量の増加に主に起因しており、サプライチェーン取引ビジネスにおける売上高の費用がファイナンスサービスビジネスで発生する費用と比較して高いためです。
粗利益
2024年6月30日までの6か月間、粗利益は売上高の増加による一部の補填により、前年同期の$1980万から$1720万に13%減少しました。粗利率は、2024年6月30日および2023年の6か月間の売上高に対する割合として、それぞれ8.96%と15.6%でした。売上高に対する粗利率の減少は、主に当社のサプライチェーン取引ビジネスの大幅成長と、部分的には資金調達サービスビジネスの規模縮小によるものでした。サプライチェーン取引ビジネスは、通常、資金調達サービスビジネスと比較して、売上高に対する粗利率が低い傾向があります。
営業費用
中小型株金融ソリューションサービスの需要減少により、営業費用が大幅に減少したことが主な要因であり、このため、対応するチャネル促進費用が削減され、2024年6月30日までの6か月で、前期比820万ドルから570万ドルに31％減少しました。
| ● | 販売費用は、2024年6月30日までの6か月間で260万ドルから80万ドルまで減少し、前年度の同じ期間と比較して69%減少しました。販売費用の減少は、中小型株金融ソリューションサービスに関連するチャネルプロモーション費用が少なかったためであり、会社は新規チャネルの作成に伴うコストを追加せず、既存の営業チャネルを維持しました。 |
| ● | 一般管理費は、2024年6月30日までの6か月間で前年度同期の550万ドルから470万ドルに14％減少しました。 一般管理費の減少は、不要な出張やエンターテイメント費の削減を含む管理陣のコスト管理強化策の主な結果でした。 |
| ● | 研究開発費は、2024年6月30日を終了した6ヵ月間に対して27％増の45万ドルに増加し、前年度同期間の35万ドルから増加しました。研究開発費の増加は、主に会社が2023年6月に購入したプラットフォーム・テクノロジーに関連する償却費用に起因しています。 |
| ● |
予想される信用収入 12%増の300万ドルから200万ドルの前年の期間からの増加。予想される信用収入の増加は、主に2023年12月31日に信用損失引当金で前もって諸口を回収したことによるものであり、年の前半に新しい予想される信用損失がなかったことに起因しています。 |
その他の収入純額
会社は2024年6月30日までの6か月間のその他の純収入が120万ドルであり、前年度の同じ期間の240万ドルと比較している。この減少は2024年上半期に短期投資の減少による、利子や投資収益の減少に主に起因している。
当期純利益
2024年6月30日までの6ヶ月間に、会社は当期純利益1030万ドルを計上しました。前期と比べて1140万ドルであり、この減少は上記の粗利益の減少に主に起因しています。
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株当り 当期純利益
2024年6月30日に終了した6か月間の当期純利益は1株あたり2.61ドルで、前期と比較して若干減少しました。発行済株式数の加重平均は、2024年と2023年にそれぞれ3,952,198株と3,943,288株でした。
財務状況 およびキャッシュフロー
2024年6月30日現在、会社は2023年12月31日時点の11460万ドルに対して4780万ドルの現金、現金同等物および制限付き現金を有していました。この減少は、2024年6月30日までの6ヶ月間の運用活動に使用された6940万ドルが主な要因でした。
2024年6月30日に終了した6ヵ月間における運転活動に係る流入は、前年度の運転活動に係る流入の$5720万に対して、$12660万増の$6940万に増加しました。運転活動に係る流入の増加は、主にサプライヤーへの前払金の$7630万、顧客への前払金の$5100万、サプライチェーンソリューションビジネスに関連するその他の支払可能高の$1060万の現金流出の増加によるもので、部分的には在庫からの現金流入の$2390万の増加で相殺されました。
Net cash provided by investing activities increased by $13.9 million to $6.9 million for the six months ended June 30, 2024, compared to a cash outflow from investing activities of $7.0 million for the same period of the prior fiscal year. The increase in net cash provided by investing activities was primarily due to a decrease in payments made for short-term investment of $40.6 million, and a decrease in payments for loans to third parties of $16.8 million. The decrease was partially offset by a decrease in cash inflows of $28.3 million from proceeds from sale of short-term investments and a decrease in cash proceeds from investments in debt securities of $14.2 million.
Net cash used in financing activities for the six months ended June 30, 2024 was $2.1 million, compared to $8.2 million for the same period in the prior fiscal year. Net cash used in financing activities decreased mainly due to a decrease in payments for loans from related parties of $8 million, which was partially offset by a decrease in proceeds from third party loans of $2.0 million.
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About Nisun International Enterprise Development Group Co., Ltd
Nisun International Enterprise Development Group Co., Ltd (NASDAQ: NISN) is a technology-driven, integrated supply chain solutions provider focused on transforming the corporate finance industry. Leveraging its industry experience, Nisun is dedicated to providing professional supply chain solutions to Chinese and foreign enterprises and financial institutions. Through its subsidiaries, Nisun provides users with professional solutions for technology supply chain management, technology asset routing, and digital transformation of tech and finance institutions, enabling the industry to strengthen and grow. At the same time, Nisun continues to deepen the field of industry segmentation through industrial and financial integration, by cultivating/creating an ecosystem of openness and empowerment. Nisun has built a linked platform that incorporates supply chain, banking, securities, trust, insurance, funds, state-owned enterprises, among other businesses. Focusing on industry-finance linkages, Nisun aims to serve the upstream and downstream of the industrial supply chain while also assisting with supply-side sub-sector reform. For more information, please visit http://ir.nisun-international.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains information about Nisun’s view of its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. Nisun encourages you to review other factors that may affect its future results in Nisun’s registration statement and in its other filings with the Securities and Exchange Commission. Nisun assumes no obligation to update or revise its forward-looking statements as a result of new information, future events or otherwise, except as expressly required by applicable law.
Contacts:
Nisun International Enterprise Development Group Co., Ltd
Investor Relations
Tel: +86 (21) 2357-0055
Email: ir@cnisun.com
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NISUN INTERNATIONAL ENTERPRISE DEVELOPMENT GROUP CO., LTD AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(IN US DOLLARS)
| June 30, 2024 | December 31, 2023 | |||||||
| ASSETS | (Unaudited) | |||||||
| CURRENT ASSETS: | ||||||||
| Cash and cash equivalents | $ | 47,864,037 | $ | 114,454,844 | ||||
| Restricted cash | - | 197,096 | ||||||
| Short-term investments | 8,044,415 | 12,788,629 | ||||||
| Accounts receivable, net | 31,904,860 | 21,120,795 | ||||||
| Advance to suppliers, net | 85,801,726 | 38,602,304 | ||||||
| Receivables from supply chain solutions | 34,005,851 | 59,167,029 | ||||||
| Inventories | 25,321,304 | 30,953,583 | ||||||
| Prepaid expenses and other current assets | 14,575,029 | 16,018,778 | ||||||
| TOTAL CURRENT ASSETS | 247,517,222 | 293,303,058 | ||||||
| NON-CURRENT ASSETS: | ||||||||
| Property and equipment, net | 721,621 | 881,276 | ||||||
| Intangible assets, net | 430,354 | 882,828 | ||||||
| Right-of-use assets, net | 2,182,671 | 2,384,590 | ||||||
| Equity investments | 319,275 | 368,528 | ||||||
| Goodwill | 17,253,427 | 17,659,983 | ||||||
| Deferred tax assets, net | 408,935 | 418,571 | ||||||
| TOTAL NON-CURRENT ASSETS | 21,316,283 | 22,595,776 | ||||||
| TOTAL ASSETS | $ | 268,833,505 | $ | 315,898,834 | ||||
| LIABILITIES | ||||||||
| CURRENT LIABILITIES: | ||||||||
| Accounts payable | $ | 15,371,048 | $ | 45,463,753 | ||||
| Short-term bank loans | 2,752,092 | 1,971,859 | ||||||
| Accrued expenses and other current liabilities | 2,948,837 | 7,245,358 | ||||||
| Operating lease liabilities - current | 976,889 | 861,087 | ||||||
| Payables to supply chain solutions | 4,295,683 | 12,947,708 | ||||||
| Advances from customer | 27,828,709 | 38,153,915 | ||||||
| Taxes payable | 4,126,779 | 4,145,920 | ||||||
| Liabilities of financial guarantee | 21,821 | 22,335 | ||||||
| Due to related parties - current | 268,329 | 274,652 | ||||||
| TOTAL CURRENT LIABILITIES | 58,590,187 | 111,086,587 | ||||||
| Operating lease liabilities – non-current | 1,386,557 | 1,643,076 | ||||||
| Deferred tax liabilities | 29,516 | 114,650 | ||||||
| TOTAL NON-CURRENT LIABILITIES | 1,416,073 | 1,757,726 | ||||||
| TOTAL LIABILITIES | 60,006,260 | 112,844,313 | ||||||
| SHAREHOLDERS’ EQUITY:* | ||||||||
| Class A common stock, $0.01 par value, 30,000,000 and 30,000,000 shares authorized, 4,017,596 and 4,017,596 shares issued, and 3,952,198 and 3,952,198 shares outstanding as of June 30, 2024 and December 31, 2023, respectively | 40,176 | 40,176 | ||||||
| Class B common stock, $0.01 par value, 1,000,000 shares authorized, no shares issued and outstanding as of June 30, 2024 and December 31, 2023 | - | - | ||||||
| Treasury shares | (228,240 | ) | (261,592 | ) | ||||
| Additional paid-in capital | 130,535,082 | 130,535,082 | ||||||
| Retained earnings | 78,009,782 | 68,395,637 | ||||||
| Statutory reserves | 12,253,635 | 11,564,250 | ||||||
| Accumulated other comprehensive loss | (16,060,474 | ) | (11,474,682 | ) | ||||
| COMMON SHAREHOLDERS’ EQUITY | 204,549,961 | 198,798,871 | ||||||
| Non-controlling interests | 4,277,284 | 4,255,650 | ||||||
| TOTAL SHAREHOLDERS’ EQUITY | 208,827,245 | 203,054,521 | ||||||
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ | 268,833,505 | $ | 315,898,834 | ||||
| * | The financial statements give retroactive effect to the May 18, 2023 one-for-ten reverse share split. |
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NISUN INTERNATIONAL ENTERPRISE DEVELOPMENT GROUP CO., LTD AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
UNAUDITED (IN US DOLLARS)
| For the Six Months Ended June 30, | ||||||||
| 2024 | 2023 | |||||||
| REVENUES: | ||||||||
| Revenues generated from sales: | ||||||||
| Supply chain trading business | $ | 142,079,851 | $ | 66,249,853 | ||||
| Revenues generated from services: | ||||||||
| Small and Medium Enterprise financing solutions | 48,527,509 | 57,956,690 | ||||||
| Supply Chain financing solutions | 1,929,533 | 2,737,265 | ||||||
| Total revenue generated from services | 50,457,042 | 60,693,955 | ||||||
| TOTAL REVENUES | 192,536,893 | 126,943,808 | ||||||
| COST OF REVENUE: | ||||||||
| Cost of revenue - sales | (140,743,953 | ) | (67,342,086 | ) | ||||
| Cost of revenue - services | (34,253,460 | ) | (39,529,203 | ) | ||||
| Business and sales related taxes | (287,225 | ) | (231,103 | ) | ||||
| GROSS PROFIT | 17,252,255 | 19,841,416 | ||||||
| OPERATING EXPENSES: | ||||||||
| Selling expenses | (811,360 | ) | (2,637,517 | ) | ||||
| General and administrative expenses | (4,718,918 | ) | (5,489,580 | ) | ||||
| Research and development expenses | (446,877 | ) | (351,200 | ) | ||||
Expected credit income | 262,584 | 235,377 | ||||||
| Total operating expenses | (5,714,571 | ) | (8,242,920 | ) | ||||
| INCOME FROM OPERATIONS | 11,537,684 | 11,598,496 | ||||||
| OTHER INCOME (EXPENSE): | ||||||||
| Interest and investment income | 801,987 | 1,498,856 | ||||||
| Other income, net | 425,839 | 880,144 | ||||||
Total other income, net | 1,227,826 | 2,379,000 | ||||||
| INCOME BEFORE PROVISION FOR INCOME TAXES | 12,765,510 | 13,977,496 | ||||||
| PROVISION FOR INCOME TAXES | (2,440,569 | ) | (2,610,535 | ) | ||||
| NET INCOME | 10,324,941 | 11,366,961 | ||||||
| Net income attributable to non-controlling interests | (21,411 | ) | (47,574 | ) | ||||
| NET INCOME - Nisun International’s shareholders | $ | 10,303,530 | $ | 11,319,387 | ||||
| OTHER COMPREHENSIVE LOSS | ||||||||
| Foreign currency translation loss | (4,585,569 | ) | (8,175,831 | ) | ||||
| COMPREHENSIVE INCOME | 5,717,961 | 3,143,556 | ||||||
| Comprehensive (loss) attributable to non-controlling interests | (223 | ) | (1,487 | |||||
| COMPREHENSIVE INCOME | $ | 5,717,738 | $ | 3,142,069 | ||||
| BASIC AND DILUTED EARNINGS PER COMMON SHARE: | ||||||||
| NET EARNINGS PER COMMON SHARE | $ | 2.61 | $ | 2.87 | ||||
| Weighted average number of shares outstanding-basic and diluted* | 3,952,198 | 3,943,288 | ||||||
| * | The financial statements give retroactive effect to the May 18, 2023 one-for-ten reverse share split. |
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NISUN INTERNATIONAL ENTERPRISE DEVELOPMENT GROUP CO., LTD AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
UNAUDITED (IN US DOLLARS)
| For the Six Months Ended June 30, | ||||||||
| 2024 | 2023 | |||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||
| Net income | $ | 10,324,941 | $ | 11,366,961 | ||||
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||||||||
| Depreciation and amortization | 847,585 | 1,294,166 | ||||||
| Expected credit income | (262,584 | ) | (234,120 | ) | ||||
| Property and equipment written off | 1,807 | 4,178 | ||||||
| Income from investments | (287,022 | ) | (7,296 | ) | ||||
| Deferred tax benefit | (83,112 | ) | (51,609 | ) | ||||
| Repurchase Treasury shares | 33,352 | - | ||||||
| Changes in operating assets and liabilities: | ||||||||
| Accounts receivable | (11,262,419 | ) | (11,089,756 | ) | ||||
| Advance to suppliers | (48,309,925 | ) | 28,012,573 | |||||
| Prepaid expenses and other current assets | (976,429 | ) | (3,140,645 | ) | ||||
| Receivables from supply chain solutions | 24,053,943 | 3,411,356 | ||||||
| Inventories | 4,956,474 | (18,988,807 | ) | |||||
| Accounts payable | (29,263,247 | ) | (1,839,578 | ) | ||||
| Advance from customers | (9,517,489 | ) | 41,474,328 | |||||
| Taxes payable | 75,614 | 754,075 | ||||||
| Other payables | (1,514,377 | ) | 4,016,393 | |||||
| Payable to supply chain solutions | (8,416,415 | ) | 2,165,239 | |||||
| Operating lease liabilities | (83,690 | ) | (490,946 | ) | ||||
| Accrued expenses and other current liabilities | 334,742 | 567,503 | ||||||
| NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES | (69,348,251 | ) | 57,224,015 | |||||
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||
| Acquisition of property and equipment | (11,673 | ) | (226,403 | ) | ||||
| Purchase of intangible asset | (4,316 | ) | (43,534 | ) | ||||
| Proceeds from sale of short-term investments | 24,704,041 | 53,004,461 | ||||||
| Proceeds from sale of long-term investment | - | 2,792,763 | ||||||
| Proceeds from investment in debt securities | - | 14,204,625 | ||||||
| Purchase of short-term investments | (19,892,871 | ) | (60,463,319 | ) | ||||
| Repayments from loans to third parties | 2,079,501 | 471,604 | ||||||
| Payments made for loans to third parties | - | (16,756,578 | ) | |||||
| NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | 6,874,682 | (7,016,381 | ) | |||||
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||
| Proceeds from short-term bank loans | 1,386,334 | 139,638 | ||||||
| Repayment of short-term bank loans | (624,198 | ) | (11,912 | ) | ||||
| Proceeds from third party loans | - | 1,954,934 | ||||||
| Repayment to related party | - | (8,000,000 | ) | |||||
| Repayment of third party loans | (2,911,302 | ) | (2,252,363 | ) | ||||
| Capital contribution from non-controlling interest | - | 37,116 | ||||||
| Repurchase Treasury shares | - | (17,514 | ) | |||||
| NET CASH USED IN FINANCING ACTIVITIES | (2,149,166 | ) | (8,150,101 | ) | ||||
| EFFECT OF EXCHANGE RATE CHANGE ON CASH AND CASH EQUIVALENTS | (2,165,168 | ) | (2,738,394 | ) | ||||
| NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (66,787,903 | ) | 39,319,139 | |||||
| CASH AND CASH EQUIVALENTS AND RESTRICTED CASH-BEGINNING | 114,651,940 | 67,318,573 | ||||||
| CASH AND CASH EQUIVALENTS AND RESTRICTED CASH-ENDING | $ | 47,864,037 | $ | 106,637,712 | ||||
| SUPPLEMENTAL CASH FLOW DISCLOSURES: | ||||||||
| Cash paid for income taxes | $ | 3,516,019 | $ | 1,560,580 | ||||
| Cash paid for interest | $ | 69,664 | $ | 11,912 | ||||
| SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES: | ||||||||
| Lease liabilities arising from obtaining right-of-use assets | $ | 266,413 | $ | - | ||||
| CASH AND CASH EQUIVALENTS FROM CONTINUING OPERATIONS ARE COMPRISED OF THE FOLLOWING: | ||||||||
| Cash and cash equivalents | $ | 47,864,037 | $ | 105,994,692 | ||||
| Restricted cash | - | 643,020 | ||||||
| Total cash, cash equivalents and restricted cash | $ | 47,864,037 | $ | 106,637,712 | ||||
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