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CXJ Group Co Ltd (ECXJ) has submitted its Form 10-Q filing for the quarterly period ended November 30, 2024.
The filing includes financial statements for the quarter, showing total revenue of $100,875, a decrease from $866,366 in the same quarter the previous year. This decline is attributed to reduced market activity.
Cost of revenue for the quarter was $35,433, compared to $335,973 in the same quarter of the previous year, reflecting a decrease in sales volume.
The company reported a gross profit of $65,442 for the quarter, down from $530,393 in the previous year.
Selling and distribution expenses were $48,624, a decrease from $183,389 in the previous year, due to reduced sales-related costs.
General and administrative expenses decreased to $123,570 from $149,720, primarily due to lower consultancy fees and office expenses.
The company reported a net loss of $143,693 for the quarter, compared to a net profit of $203,216 in the previous year.
Cash used in operating activities was $397,664, while cash used in investing activities was $1,592. Cash provided by financing activities was $394,463.
CXJ Group had cash and cash equivalents of $352 as of November 30, 2024. The company acknowledges its limited cash position and dependence on additional financing to support operations.
The filing also details the issuance of new shares through subscription agreements, generating net proceeds of $369,728.
The company continues to focus on expanding its market share and improving profitability through strategic acquisitions and development of its online and offline platforms.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the CXJ Group Co Ltd quarterly 10-Q report dated January 8, 2025. To report an error, please email earnings@qz.com.