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Alset Inc. (AEI-8.31%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The company reported total revenue of $21,115,899 for the year, a decrease from $22,088,507 in the previous year. The decline in revenue was primarily due to reduced property sales.
Operating expenses for the year were $25,232,975, slightly up from $24,961,161 in 2023. The increase was attributed to higher general and administrative expenses and impairment charges.
Alset Inc. recorded a net loss of $4,165,816, a significant improvement from the net loss of $61,278,733 in 2023. The previous year's loss was largely impacted by a loss on consolidation of Alset Capital Acquisition Corp.
The company's real estate segment generated $19,608,184 in revenue, down from $20,963,661 in 2023. This segment accounted for 93% of total revenue, with the remainder coming from rental income and other activities.
Alset Inc.'s digital transformation technology and biohealth segments did not generate significant revenue during the year.
The company reported cash and cash equivalents of $27,243,787 as of December 31, 2024, compared to $26,921,727 at the end of the previous year.
Alset Inc.'s total assets decreased to $96,761,977 from $126,314,028, primarily due to a decrease in real estate assets and cash held in trust accounts.
The company highlighted its ongoing efforts to develop EHome communities and other real estate projects, with a focus on sustainable and healthy living solutions.
Alset Inc. continues to explore opportunities in digital transformation technology, biohealth, and other business activities to diversify its revenue streams.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Alset Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.