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Hongchang International Co Ltd Com (New) (HCIL0.00%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports net revenue of $2,867,102 for the year, an increase from $2,675,789 in the previous year, primarily due to the launch of a new beef and mutton supplying business.
Cost of revenue was $2,685,470, resulting in a gross profit of $181,632, up from $69,358 in the previous year.
Total operating expenses were $564,958, leading to a loss from operations of $383,326.
The company reported a net loss of $472,393 for the year, compared to a net loss of $378,794 in the previous year.
Cash used in operating activities was $7,337,639, with cash provided by financing activities of $10,204,753.
The company had $240,598 in cash as of December 31, 2024, down from $895,730 at the end of the previous year.
Hongchang International Co Ltd Com (New) continues to focus on its food trade business, with significant operations in China.
The company is subject to various risks related to doing business in China, including changes in regulations and economic conditions.
The filing also details the company's corporate structure and recent changes, including the completion of a reverse merger with Hong Chang Global Investment Holdings Limited.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Hongchang International Co Ltd Com (New) annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.