Group 1 - Applied Digital Corp (NASDAQ:APLD) shares increased by 24.6% to $36.50 in pre-market trading following the release of its fiscal first-quarter 2026 earnings report [1][2] - The company reported first-quarter revenue of $64.22 million, surpassing analyst estimates of $49.99 million [1] - Applied Digital's first-quarter adjusted loss was three cents per share, better than the analyst expectations of a loss of 13 cents per share [1] Group 2 - Safe & Green Holdings Corp (NASDAQ:SGBX) saw a significant gain of 85.5% to $6.01 in pre-market trading after regaining Nasdaq compliance [5] - Brookfield Corp (NYSE:BN) surged 51.1% to $68.00 following the completion of a three-for-two stock split [5] - SWK Holdings Corp (NASDAQ:SWKH) rose 45.5% to $21.00 after Runway Growth Finance Corp agreed to acquire the company [5]

Core Insights - Chinese concept stocks experienced significant gains, with the top five performers showing substantial increases in their stock prices, indicating a positive market sentiment towards these companies [1] Group 1: Stock Performance - AMBO (安博教育) saw a remarkable increase of 61.06%, closing at 5.750, with a trading volume of 19.5087 million [1] - SUGP (荣志集团) rose by 54.28%, ending at 10.490, with a trading volume of 21.8466 million [1] - EPWK (一品威客) increased by 52.46%, closing at 0.1148, with a trading volume of 94.206 million [1] - IFU (玖富) experienced a gain of 52.17%, closing at 4.200, with a trading volume of 7.8186 million [1] - BAOS (宝盛) rose by 46.83%, closing at 4.860, with a trading volume of 167 million [1]

分组1 - Richardson Electronics, Ltd. reported better-than-expected first-quarter financial results, with earnings of 13 cents per share, surpassing the analyst consensus estimate of 1 cent per share [1] - The company achieved quarterly sales of $54.607 million, exceeding the analyst consensus estimate of $51.510 million [1] - Following the positive earnings report, Richardson Electronics shares increased by 20.2% to $12.76 in pre-market trading [1] 分组2 - Turn Therapeutics Inc. saw a significant gain of 226.3%, reaching $22.84 in pre-market trading after commencing trading on the Nasdaq Capital Market [5] - Baosheng Media Group Holdings Limited surged by 107.7% to $6.88 in pre-market trading [5] - Several other companies also experienced notable pre-market trading gains, including Alaunos Therapeutics, Inc. (+61.5%), Ambow Education Holding Ltd. (+53.2%), and AiRWA Inc. (+45.7%) [5]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (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, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _____________. OR ☐ SHELL COMPANY REPORT PU ...

Exhibit 99.1 BAOSHENG MEDIA GROUP HOLDINGS LIMITED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Expressed in U.S. dollar, except for the number of shares) | | June 30, | | | December 31, | | --- | --- | --- | --- | --- | | | 2024 | | | 2023 | | | (unaudited) | | | | | ASSETS | | | | | | Current Assets | | | | | | Cash and cash equivalents | $ 2,889,830 | | $ | 3,316,062 | | Short-term investments | 1,808,324 | | | 2,554,319 | | Accounts receivable, net – third parties | 27,018,368 | | | 26,082,773 | | A ...

Beijing, China, May 31, 2024 (GLOBE NEWSWIRE) -- Baosheng Media Group Holdings Limited (NASDAQ:BAOS) ("Baosheng" or the "Company"), a China-based online marketing solution provider, today announced that on May 9, 2024, the Company filed a current report on Form 6-K with the U.S. Securities and Exchange Commission (the "SEC") regarding certain pending legal proceeding. As previously disclosed on the Form 6-K filed by the Company with the SEC on April 22, 2024, the Company was served with a copy of a petition ...

Beijing, China, May 31, 2024 (GLOBE NEWSWIRE) -- Baosheng Media Group Holdings Limited (NASDAQ: BAOS) ("Baosheng" or the "Company"), a China-based online marketing solution provider, today announced that on May 9, 2024, the Company filed a current report on Form 6-K with the U.S. Securities and Exchange Commission (the "SEC") regarding certain pending legal proceeding. As previously disclosed on the Form 6-K filed by the Company with the SEC on April 22, 2024, the Company was served with a copy of a petitio ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (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, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _____________. OR ☐ SHELL COMPANY REPORT PU ...

[Unaudited Condensed Consolidated Financial Statements](index=1&type=section&id=Unaudited%20Condensed%20Consolidated%20Financial%20Statements) The company's financial position as of June 30, 2023, shows decreased assets and liabilities, while operations improved significantly with a narrowed net loss and positive operating cash flow [Unaudited Condensed Consolidated Balance Sheets](index=1&type=section&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2023, total assets decreased to **$53.57 million**, liabilities to **$10.28 million**, and shareholders' equity to **$43.29 million**, primarily due to reduced cash and increased comprehensive loss Key Balance Sheet Items (in USD) | Balance Sheet Item | June 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Total Current Assets** | $41,530,910 | $50,139,482 | | **Total Assets** | **$53,565,586** | **$58,046,415** | | **Total Liabilities** | **$10,280,457** | **$12,609,790** | | **Total Shareholders' Equity** | **$43,285,129** | **$45,436,625** | - Cash and cash equivalents decreased significantly from **$6.68 million** at the end of **2022** to **$3.72 million** as of June 30, **2023**[2](index=2&type=chunk) - Long-term investments increased substantially from **$2.26 million** to **$6.84 million** during the first six months of **2023**[2](index=2&type=chunk) [Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss](index=2&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) For the six months ended June 30, 2023, revenues increased to **$1.47 million**, shifting to a gross profit of **$1.18 million** and significantly narrowing the net loss to **$4,079** Key Operational Results (Six Months Ended June 30) | Metric | 2023 | 2022 | | :--- | :--- | :--- | | **Revenues** | $1,470,439 | $428,150 | | **Gross Profit (Loss)** | $1,175,844 | $(1,062,518) | | **Loss from Operations** | $(636,805) | $(6,536,807) | | **Net Loss** | **$(4,079)** | **$(6,310,346)** | | **Comprehensive Loss** | $(2,151,496) | $(9,827,579) | | **Loss per Share (Basic & Diluted)** | $(0.00) | $(4.11) | - The significant reduction in net loss was driven by higher revenues, a shift to gross profit, and lower operating expenses, particularly a large decrease in the provision for doubtful accounts from **$3.51 million** in **2022** to **$0.56 million** in **2023**[5](index=5&type=chunk) [Unaudited Condensed Consolidated Statements of Changes in Shareholders' Equity](index=3&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Shareholders'%20Equity) Shareholders' equity decreased to **$43.29 million** by June 30, 2023, mainly due to a **$2.15 million** foreign currency translation loss, partially offset by a minimal net loss Reconciliation of Shareholders' Equity (Six Months Ended June 30, 2023) | Description | Amount (in USD) | | :--- | :--- | | **Balance as of December 31, 2022** | **$45,436,625** | | Net loss | $(4,079) | | Foreign currency translation adjustments | $(2,147,417) | | **Balance as of June 30, 2023** | **$43,285,129** | [Unaudited Condensed Consolidated Statements of Cash Flows](index=4&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Operating activities generated **$2.64 million** in cash, while investing activities used **$5.41 million**, resulting in a **$2.96 million** net decrease in cash and cash equivalents Summary of Cash Flows (Six Months Ended June 30) | Cash Flow Category | 2023 | 2022 | | :--- | :--- | :--- | | **Net Cash Provided by (Used in) Operating Activities** | $2,639,003 | $(4,000,579) | | **Net Cash (Used in) Provided by Investing Activities** | $(5,405,550) | $1,702,834 | | **Net Cash Used in Financing Activities** | $(26,635) | $(1,285,912) | | **Net decrease in cash and cash equivalents** | $(2,962,145) | $(3,775,452) | - The primary use of cash in the period was a **$4.91 million** purchase of long-term investments[11](index=11&type=chunk) - The improvement in operating cash flow was mainly driven by positive changes in working capital, including a significant decrease in prepayments to a related party[11](index=11&type=chunk) [Notes to Unaudited Condensed Consolidated Financial Statements](index=5&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) These notes provide detailed information on the company's organization, accounting policies, going concern status, investments, warrant liabilities, contingencies, and subsequent events [Note 1: Organization and Business Description](index=5&type=section&id=1.%20ORGANIZATION%20AND%20BUSINESS%20DESCRIPTION) Baosheng Media Group, a Cayman Islands company, provides online marketing services in the PRC, with share consolidations retroactively applied to financial data - The company is engaged in providing online marketing channels for advertisers to manage their online marketing activities[17](index=17&type=chunk) - A one-for-six share consolidation was effected on March 21, **2023**, following an increase in authorized share capital. This, along with a **2022** consolidation, has been retroactively restated in the financial statements[18](index=18&type=chunk) - As of June 30, **2023**, the company had **6,250,000** authorized shares with a par value of **$0.0096**, of which **1,534,487** were issued and outstanding[18](index=18&type=chunk) [Note 2: Summary of Significant Accounting Policies](index=7&type=section&id=2.%20SUMMARY%20OF%20SIGNIFICANT%20ACCOUNTING%20POLICIES) The company follows U.S. GAAP, recognizing advertising revenue on a net basis, and faces significant concentration risk with two publishers accounting for over **96%** of revenue [Revenue Recognition](index=10&type=section&id=Revenue%20Recognition) Revenue is recognized on a net basis as the company acts as an agent, comprising rebates from publishers and net fees from advertisers - The company acts as an agent and does not take control of ad inventories, thus recognizing revenue on a net basis[39](index=39&type=chunk) Disaggregation of Revenue (Six Months Ended June 30) | Revenue Source | 2023 | 2022 | | :--- | :--- | :--- | | **By Nature:** | | | | Rebates and incentives from publishers | $84,372 | $373,508 | | Net fees from advertisers | $1,386,067 | $54,642 | | **By Category:** | | | | SEM services | $72,510 | $50,380 | | Non-SEM services | $1,397,929 | $377,770 | | **Total Revenue** | **$1,470,439** | **$428,150** | [Concentration and Credit Risk](index=14&type=section&id=Concentration%20and%20Credit%20Risk) The company faces significant concentration risk with two publishers generating **96.1%** of revenue and four advertisers holding **56.3%** of accounts receivable - For the six months ended June 30, **2023**, two publishers accounted for approximately **78.7%** and **17.4%** of total revenue, respectively[54](index=54&type=chunk) - As of June 30, **2023**, four advertisers accounted for **18.3%**, **14.6%**, **13.4%**, and **10.0%** of accounts receivable, respectively[54](index=54&type=chunk) - As of June 30, **2023**, **$3.0 million** of the company's cash was on deposit at financial institutions in the PRC, where there is no deposit insurance[53](index=53&type=chunk) [Note 3: Going Concern](index=15&type=section&id=3.%20GOING%20CONCERN) Historical net losses raise substantial doubt about the company's going concern ability, though management expects sufficient working capital for the next **12 months** - Historical net losses, including **$6.3 million** for the six months ended June 30, **2022**, raise substantial doubt about the company's ability to continue as a going concern[56](index=56&type=chunk) - Management's plan to continue as a going concern relies on positive operating cash flow (achieved in H1 **2023**), renewing bank loans, and potential shareholder support[57](index=57&type=chunk) [Note 11: Long-Term Investments](index=18&type=section&id=11.%20LONG-TERM%20INVESTMENTS) Long-term investments increased to **$6.84 million**, including a **42.85%** equity interest in Beijing Shanxingzhe accounted for using the equity method Composition of Long-Term Investments (in USD) | Investment | June 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Beijing Xinrong Fanxing | $1,379,063 | $1,449,863 | | Beijing Qucheng | $1,323,901 | $811,924 | | Beijing Shanxingzhe | $4,137,189 | $— | | **Total** | **$6,840,153** | **$2,261,787** | - In June **2023**, the company invested **$4.33 million** for a **42.85%** equity interest in the newly formed Beijing Shanxingzhe, which is accounted for using the equity method[79](index=79&type=chunk) [Note 12: Warrant Liabilities](index=19&type=section&id=12.%20WARRANT%20LIABILITIES) Warrant liabilities, classified as derivative liabilities, decreased to **$2** by June 30, 2023, resulting in an **$830** gain from fair value remeasurement - Warrants issued in a **2021** private placement are classified as a liability and remeasured at fair value each period, with changes recorded in the income statement[84](index=84&type=chunk) Change in Fair Value of Warrant Liabilities (in USD) | Period | Value | | :--- | :--- | | **Estimated fair value as of December 31, 2022** | **$832** | | Changes in estimated fair value | $(830) | | **Estimated fair value as of June 30, 2023** | **$2** | [Note 17: Contingencies](index=25&type=section&id=17.%20CONTINGENCIES) The company is involved in legal proceedings, including an appeal against a **RMB 171,478** judgment and a past **$1.7 million** dispute fully reimbursed by a former chairperson - In a lawsuit with Shenzhen Pusi, a court ruled against the company's subsidiary, Baosheng Network, for **RMB 171,478**. The case was appealed on July 13, **2023**, and is still in progress[113](index=113&type=chunk) - A major past litigation with Ms. Chen Chen was resolved in February **2022**. The judgment amount of approximately **$1.7 million** was paid by the company and fully reimbursed by the former Chairperson, Ms. Wenxiu Zhong, as per a guarantee letter[115](index=115&type=chunk) [Note 18: Subsequent Events](index=25&type=section&id=18.%20SUBSEQUENT%20EVENTS) The Board proposed a significant increase in authorized share capital from **6.25 million** to **1 billion** shares, pending shareholder approval, effective September 29, 2023 - The company has proposed to increase its authorized share capital from **US$60,000** (**6,250,000** shares) to **US$9,600,000** (**1,000,000,000** shares), pending shareholder approval[117](index=117&type=chunk)

Financial Data and Key Metrics Changes - The company reported a net profit of approximately RMB 6.52 billion, with revenue reaching about RMB 170.2 billion, and net profit attributed to the parent company at RMB 4.55 billion [4] - Cash flow from operating activities, excluding finance company, was RMB 11.31 billion, with EBITDA at RMB 17.12 billion and EPS at RMB 0.2, while ROE stood at 2.32% [4] - Year-on-year profit decline was primarily due to a reduction in steel sales prices, resulting in a decrease of RMB 18.1 billion compared to the same period last year [5] Business Line Data and Key Metrics Changes - The company achieved a profit per ton of steel percentile value of 93 in Q2, indicating strong operational performance despite market challenges [6] - Sales of homogeneous products were enhanced, with a focus on high-profit and high-market share products [9] - The integration of R&D and sales led to an increase in sales volume, with total sales reaching 12.28 million tons, an increase of 600,000 tons compared to the same period last year [11] Market Data and Key Metrics Changes - The company noted a significant decline in the overall steel industry, with a 45% loss rate among CISA member companies and a year-on-year decline in total profit of ferrous metal smelting at -97.6% [4] - The demand in the auto industry, shipbuilding, and home appliances remained stable, while the real estate and construction machinery sectors faced declining demand [19] Company Strategy and Development Direction - The company is focusing on overseas expansion, particularly in the Middle East, with a significant project in Saudi Arabia aimed at establishing a green low-carbon steel production facility [42][45] - Emphasis on technological innovation and differentiation in product offerings to enhance competitiveness in the market [33] - The company plans to deepen the transformation of production, sales, and research to better align with market demands and improve operational efficiency [21] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns about the ongoing pressure in demand and indicated that the second half of the year is expected to mirror the first half in terms of performance [18] - The company anticipates a stable production capacity with a focus on maintaining profitability despite market fluctuations [19] - Management highlighted the importance of cost control and operational efficiency as key areas of focus moving forward [22] Other Important Information - The company achieved a reduction in costs amounting to RMB 2.99 billion in the first half of the year, with energy consumption contributing over RMB 0.7 billion to this reduction [11] - The company has been recognized for its ESG efforts, ranking fourth among China's ESG listed companies and first in the manufacturing industry [17] Q&A Session All Questions and Answers Question: What is your future overseas expansion goal in terms of timetable? - The company is committed to building the Saudi Arabia project into the world's first green low-carbon fixed plate steel project, focusing on collaboration with partners and exploring other overseas opportunities [42][44] Question: How will the management system change with the operation center? - The operation center aims to optimize resource allocation across multiple bases, enhancing efficiency and minimizing downtime in production [51][53] Question: How can you ensure good auditing results and quality to manage risk? - The company emphasizes a strong finance team and a sound internal control system to ensure accurate and reliable financial reporting [56][60] Question: How is the capacity development towards the 80 million tons goal for 2024? - The company plans to achieve this growth through high-quality development and potential M&A activities to optimize resource utilization and enhance production capabilities [66]