SHANGHAI, Nov. 11, 2024 /PRNewswire/ -- Nisun International Enterprise Development Group Co., Ltd ("Nisun International" or the "Company") (Nasdaq: NISN), a technology and industry driven integrated supply chain solutions provider, is pleased to announce its acquisition of a minority stake in Nanjing Pin Bai Sheng Catering Management Co., Ltd. ("Nanjing Pin Bai Sheng"), a prominent franchisee and partner in China's thriving food and beverage sector. This strategic investment aligns with Nisun International' ...

SHANGHAI, Nov. 5, 2024 /PRNewswire/ -- Nisun International Enterprise Development Group Co., Ltd. ("Nisun International" or the "Company") (Nasdaq: NISN), a technology and industry-driven integrated supply chain solutions provider, is pleased to announce the signing of strategic partnership agreements with Shandong Hi-Speed Qingdao West Coast Port Co., Ltd., Shanneng (Qingdao) Smart Industrial Technology Co., Ltd., and Ningbo Weiduoduo New Material Technology Co., Ltd. These agreements mark Nisun Internatio ...

SHANGHAI, Oct. 25, 2024 /PRNewswire/ -- Nisun International Enterprise Development Group Co., Ltd. ("Nisun International" or the "Company") (Nasdaq: NISN), a technology and industry driven integrated supply chain solutions provider, today announced that the Company has repurchased 39,112 shares of its stock at an average price of $14.1263 per share for total proceeds of $552,508 under its $15 million share buyback program, which was announced on October 9, 2024.  The repurchases of the Company's shares were ...

Core Insights - Nisun International has entered the traditional Chinese medicine (TCM) supply chain through a strategic partnership with Beijing Tong Ren Tang Henan, focusing on sourcing Cornus officinalis, a key TCM ingredient [1][2] - The partnership aims to ensure authenticity and quality in TCM products, capitalizing on the growing demand for verified health products in the health sector [2][3] - Nisun has initiated a $15 million share repurchase program, reflecting the company's confidence in its long-term growth and commitment to enhancing shareholder value [2][3] Company Overview - Nisun International is a technology-driven integrated supply chain solutions provider, focusing on transforming the corporate finance industry and offering professional solutions for supply chain management and digital transformation [4] - The company aims to strengthen industry-finance linkages and assist with supply-side sub-sector reform, serving both upstream and downstream of the industrial supply chain [4]

Financial Performance and Key Metrics - Total revenue increased by 52% to $192.5 million in H1 2024 compared to $126.9 million in the same period last year [10] - Supply chain trading business revenue grew by 114% to $142.1 million, driven by market share expansion in the gold trading sector [10] - SME financing services revenue decreased by 16% to $48.5 million due to challenging financing market conditions in China [10] - Supply chain financing solutions revenue dropped by 30% to $1.9 million, impacted by similar market conditions [11] - Gross profit decreased by 13% to $17.2 million, with gross margin narrowing to 9% from 15.6% due to lower-margin supply chain trading business expansion [12] - Operating expenses declined by 31% to $5.7 million, driven by reduced selling and G&A expenses [13] - Net income totaled $10.3 million, down from $11.4 million in the prior year, primarily due to lower gross profit [14] - Cash position decreased to $47.8 million from $114.6 million at the end of 2023, mainly due to increased advances to suppliers and reduced accounts payable [14] Business Line Performance - Supply chain trading business showed significant growth, contributing $142.1 million in revenue, driven by gold trading sector expansion [10] - SME financing services faced a decline in revenue to $48.5 million, reflecting challenging market conditions [10] - Supply chain financing solutions revenue dropped to $1.9 million, impacted by economic slowdown [11] Market and Strategic Focus - The company is focused on expanding its supply chain trading business, particularly in the gold trading sector, and exploring adjacent markets such as Chinese herbs [24] - Management is optimistic about the future of SME financing and supply chain financing as economic conditions improve [11] - The company is leveraging AI-driven platforms to streamline operations and enhance efficiency in supply chain solutions [9] Management Commentary on Future Outlook - Management remains committed to restoring shareholder value and building investment confidence, with a focus on improving profitability and expanding into new markets [15] - The company has approved a $15 million share buyback program, reflecting confidence in future growth [16] - Management is actively working to improve transparency and communication with investors to address concerns about corporate governance and regulatory risks [39] Q&A Session Highlights Question: Cost Control Measures and Sustainability - The company implemented cost control measures, including optimizing sales channels and reducing unnecessary expenditures, leading to a 31% reduction in operating expenses [17][18] - Selling expenses decreased by 69% due to lower revenue from SME financing solutions, resulting in reduced channel promotion expenses [18] Question: R&D Expenses and Future Plans - R&D expenses increased by 27% to $0.5 million, primarily due to the amortization of platform technology service fees [13][20] - The company plans to continue investing in AI-driven supply chain solutions and developing new technologies to enhance operational efficiency [20] Question: Growth in Supply Chain Trading Business - The company is focusing on deepening relationships with key players in the supply chain and expanding into new markets to sustain growth in the gold trading sector [23][24] - Management is exploring opportunities to diversify the trading portfolio, including metals and other industries, to enhance profitability [26][27] Question: Profitability Improvement in Supply Chain Trading - The company is identifying higher-margin products and expanding into more lucrative markets to improve profitability in the supply chain trading business [32] - Leveraging technology to streamline operations and reduce costs is a key strategy to enhance margins [32] Question: Cash Dividend and Shareholder Value - The company views the decrease in cash as a strategic investment to support future growth, with advances to suppliers being a significant factor [37] - Management is focused on improving transparency and corporate governance to address investor concerns and enhance shareholder value [39][41] Question: Transparency and Investor Communication - The company is committed to enhancing transparency through investor outreach programs, roadshows, and presentations to strengthen communication with investors [39][41]

Financial Performance - Total revenues for June 2024 reached $192.54 million, a 51.7% increase from $126.94 million in June 2023[4] - Gross profit for June 2024 was $17.25 million, compared to $19.84 million in June 2023, reflecting a decrease of 12.9%[4] - Net income attributable to Nisun International's shareholders for June 2024 was $10.30 million, down from $11.32 million in June 2023, a decline of 8.9%[4] - The company reported a comprehensive income of $5.72 million for June 2024, compared to $3.14 million in June 2023, an increase of 82.3%[4] - Basic and diluted earnings per common share for June 2024 were $2.61, down from $2.87 in June 2023, a decrease of 9.1%[4] - Net income for June 2024 was $10,324,941, a decrease of 9.15% from $11,366,961 in June 2023[5] Assets and Liabilities - Total current assets decreased to $247.52 million in 2024 from $293.30 million in 2023, a reduction of 15.6%[1] - Total liabilities decreased significantly to $60.01 million in 2024 from $112.84 million in 2023, a decrease of 46.8%[1] - Cash and cash equivalents dropped to $47.86 million in 2024 from $114.45 million in 2023, a decline of 58.2%[1] - Accounts receivable increased to $31.90 million in 2024 from $21.12 million in 2023, an increase of 50.8%[1] - Retained earnings increased to $78.01 million in 2024 from $68.40 million in 2023, an increase of 14.5%[1] Cash Flow and Activities - Operating activities resulted in a net cash used of $(69,348,251) compared to a net cash provided of $57,224,015 in the same period last year[5] - Cash and cash equivalents at the end of June 2024 were $47,864,037, down from $106,637,712 in June 2023[5] - Total cash and cash equivalents and restricted cash decreased from $106,637,712 to $47,864,037 year-over-year[6] - The company reported a net cash provided by investing activities of $6,874,682, contrasting with $(7,016,381) in the previous year[5] Receivables and Payables - The company reported a significant increase in receivables from supply chain solutions, rising to $24,053,943 from $3,411,356[5] - Accounts payable increased substantially, reaching $(29,263,247) compared to $(1,839,578) in the previous year[5] Tax and Interest Expenses - The company incurred cash paid for income taxes amounting to $3,516,019, up from $1,560,580 in the prior year[6] - Cash paid for interest increased to $69,664 from $11,912 year-over-year[6] Exchange Rate Impact - The effect of exchange rate changes on cash and cash equivalents resulted in a decrease of $(2,165,168) compared to $(2,738,394) in the prior year[5]

Core Viewpoint - Nisun International reported a significant 52% increase in total revenue for the first half of 2024, driven by strong performance in its supply chain trading business, particularly in gold trading, while also initiating a $15 million share buyback program to enhance shareholder value [1][2][4][5]. Financial Highlights - Total revenue rose to $192.5 million from $126.9 million year-over-year [2]. - Supply chain trading business revenue surged by 114% to $142.1 million, up from $66.2 million [2]. - Revenue from SME financing services decreased by 16% to $48.5 million due to challenging market conditions [2]. - Supply chain financing solutions revenue fell by 30% to $1.9 million, also affected by market conditions [2]. - Net income was $10.3 million, down from $11.4 million in the prior year [2]. - Earnings per share decreased to $2.61 from $2.87 [2]. Operational Highlights - Cash and cash equivalents decreased to $47.8 million from $114.4 million at the end of 2023, primarily due to increased advances to suppliers [3]. - Operating expenses decreased by 31% to $5.7 million, with selling expenses down by 69% and general and administrative expenses reduced by 14% [3]. - A $15 million share buyback program was approved, reflecting the company's confidence in future growth [3][5]. Management Commentary - The CEO expressed satisfaction with the strong financial performance and highlighted the growth in the supply chain trading business, particularly in gold trading [4]. - The company is optimistic about the recovery of SME financing services due to recent government stimulus measures [4][5]. 2024 Outlook - The company expects continued momentum in its supply chain trading business through the second half of 2024 and into 2025, anticipating a more favorable environment for SME financing and supply chain financing solutions [6].

SHANGHAI, Oct. 15, 2024 /PRNewswire/ -- Nisun International Enterprise Development Group Co., Ltd. ("Nisun International" or the "Company") (Nasdaq: NISN), a technology and industry driven integrated supply chain solutions provider, today announced that it will report its unaudited financial results for the first half of 2024 after the close of the market on Tuesday, October 15th at 4:15 pm New York Time.The Company will host a conference call to discuss its financial results and provide an update on recent ...

SHANGHAI, China, Oct. 9, 2024 /PRNewswire/ -- Nisun International Enterprise Development Group Co., Ltd ("Nisun International" or the "Company") (Nasdaq: NISN), a technology and industry driven integrated supply chain solutions provider, today announced that its Board of Directors has approved a share repurchase program under which the Company may purchase up to $15 million of its outstanding Class A common shares over the next 12 months.Repurchases under this program may be made from time to time in the op ...

Well capitalized and profitable, the Company has no plans to raise capitalSHANGHAI, Oct. 9, 2024 /PRNewswire/ -- Nisun International Enterprise Development Group Co., Ltd ("Nisun International" or the "Company") (Nasdaq: NISN), a technology and industry driven integrated supply chain solutions provider, announced today that it expects to report record revenue for the first half of 2024 of approximately $192.5 million, representing a 52% increase compared to $126.9 million for the same period last year. The ...