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AiXin Life International Inc (AIXN0.00%) has filed its Form 10-Q filing for the quarterly period ended September 30, 2024.
The company reported revenue of $936,406 for the three months ended September 30, 2024, a decrease from $1,066,919 in the same period of 2023. The decrease was attributed to lower direct sales and pharmacy revenues, partially offset by increased hotel revenue.
Operating costs and expenses for the quarter were $1,538,989, down from $1,802,174 in the previous year. The company reported a loss from operations of $602,583, compared to a loss of $735,255 in the prior year.
Net loss for the quarter was $546,186, an increase from a net loss of $438,156 in the same period of 2023. The increase in net loss was primarily due to decreased sales and other income.
For the nine months ended September 30, 2024, AiXin reported revenue of $3,120,615, a decrease from $3,297,689 in the same period of 2023. The decrease was primarily due to lower direct sales and hotel revenue.
Operating costs and expenses for the nine-month period were $4,613,269, slightly down from $4,689,682 in the previous year. Loss from operations was $1,492,654, compared to a loss of $1,391,993 in the prior year.
Net loss for the nine months ended September 30, 2024, was $1,326,569, compared to a net loss of $1,065,486 in the same period of 2023. The increased loss was attributed to decreased sales and increased operating expenses in the hotel segment.
The company reported cash and cash equivalents of $568,318 as of September 30, 2024, compared to $443,758 at the end of 2023. AiXin noted a working capital deficit of $4,885,121 as of the end of the quarter.
AiXin Life International Inc continues to focus on expanding its product line and exploring additional opportunities in the healthcare market in China.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the AiXin Life International Inc quarterly 10-Q report dated December 27, 2024. To report an error, please email earnings@qz.com.