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AGM Group Holdings(AGMH) - 2023 Q2 - Quarterly Report
2023-12-26 16:00
Exhibit 99.1 Unaudited Financial Results for the six months ended June 30, 2023 First Half 2023 Operating and Financial Highlights ● Total computing power delivered was approximately 417,772 TH/S, compared to 985,688 TH/S in the first half of 2022. ● Total revenues were $36.6 million, down 67.8% from $113.5 million in the first half of 2022. ● Gross profit was $1.3 million, compared to $21.6 million in the first half of 2022. ● Net income was $16.1 million, compared to $14.6 million in the first half of 202 ...
AGM Group Holdings(AGMH) - 2022 Q4 - Annual Report
2023-11-12 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(B) OR 12(G) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF ...
AGM Group Holdings(AGMH) - 2021 Q4 - Earnings Call Transcript
2022-04-26 15:25
Financial Data and Key Metrics Changes - Full-year revenues for 2021 reached $36.71 million, an increase of approximately $36.66 million from 2020, with fourth-quarter revenues of $31.37 million [5][16] - Net income for 2021 was $3.53 million, compared to a net loss of $1.07 million in 2020 [16] - Gross profit surged to $5.88 million in the fourth quarter, up from $4,933 in the prior year, with a gross margin of 18.8%, an increase of 5.4 percentage points from the previous quarter [17] Business Line Data and Key Metrics Changes - The company delivered 4,896 cryptocurrency mining machines in 2021, contributing to a total computing power of 440,000 terahash per second [6][9] - The increase in sales of cryptocurrency mining machines and standardized computing equipment drove the revenue growth in the fourth quarter [17] Market Data and Key Metrics Changes - The company noted a significant increase in market demand for cryptocurrency mining, driven by institutional participation and a growing client base [8][9] - The company is planning to establish a joint venture with HighSharp to enhance its position in the blockchain ecosystem and optimize supply chain capabilities [10][11] Company Strategy and Development Direction - The company aims to transition into a leading integrated technology company focusing on blockchain-oriented ASIC chip R&D, advanced crypto mining machine production, and FinTech software services [5][7] - Plans to relocate headquarters and manufacturing facilities to North America to enhance supply chain efficiency and customer proximity [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing strong demand for upgraded products and a commitment to enhancing supply chain capabilities [15][19] - The ongoing COVID-19 situation and lockdowns in China pose challenges, but the company has contingency plans in place, including moving operations to the U.S. [24][26] Other Important Information - The company raised $20 million in gross proceeds through a registered direct offering and concurrent private placement in December [18] - The company is focusing on energy-efficient chip production and supports the use of clean energy in mining operations [31][32] Q&A Session Summary Question: How does the China lockdown affect your business in 2022? What's your projection of revenue for 2022? - Management indicated that forecasting is difficult due to supply chain disruptions caused by lockdowns, but contingency plans are in place, including moving operations to the U.S. [24][26] Question: Who are your peers in China and the U.S., and what is your technical advantage versus your key competitors? - Management identified peers in the market and highlighted their technical advantages, including the mass production of high-spec mining machines [27][29] Question: What's your view of other miners that use clean energy or produce energy-efficient chips? Any plans for producing energy-efficient chips yourselves? - Management expressed a positive view on clean energy use and is actively investing in energy-efficient chip production [31][32] Question: How do you think the shift to North America is going to affect current supply chain concerns and order fulfillment? - Management believes that relocating to North America will resolve many logistics issues and bring them closer to key customers, despite potential cost increases [36] Question: Do you expect a similar amount of R&D costs in 2022, or do you expect that number to increase over time? - Management indicated that R&D costs may not be directly reflected at the company level due to partnerships, but future integration with HighSharp will likely increase R&D activities [38]
AGM Group Holdings(AGMH) - 2021 Q3 - Earnings Call Transcript
2021-12-03 22:17
AGM Group Holdings Inc. (NASDAQ:AGMH) Q3 2021 Earnings Conference Call December 3, 2021 8:00 AM ET Company Participants Wenjie Tang - Co-CEO Chenjun Li - Chairman and Co-CEO Steven Sim - CFO Conference Call Participants Operator Good day, ladies and gentlemen. Thank you for standing by and welcome to the AGM Group Holdings, Inc. Third Quarter 2021 Earnings Conference Call. Currently all participants are in listen-only mode. Later we will conduct a question-and-answer session and instructions will follow at ...
AGM Group Holdings(AGMH) - 2019 Q4 - Annual Report
2020-05-15 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Class A ordinary shares, par value $0.001 per share AGMH The NASDAQ Stock Market LLC ( NASDAQ Capital Market) FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(B) OR 12(G) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2 ...
AGM Group Holdings(AGMH) - 2018 Q4 - Annual Report
2019-05-15 20:20
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(B) OR 12(G) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF ...