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幸福来上涨9.55%,报0.78美元/股,总市值5252.28万美元
Jin Rong Jie· 2025-08-12 20:15
Core Viewpoint - Happiness Comes (PAVS) experienced a significant intraday increase of 9.55%, reaching a price of $0.78 per share, with a total market capitalization of $52.52 million [1] Financial Performance - As of March 31, 2024, the total revenue for Happiness Comes was $6.5448 million, reflecting a year-over-year decrease of 71.95% [1] - The net profit attributable to shareholders was -$10.1262 million, which represents a year-over-year increase of 85.88% [1] Company Overview - Paranovus Entertainment Technology Ltd. focuses on the AI-driven entertainment industry, specifically in developing AI-powered games and applications [1] - The company aims to provide immersive and engaging entertainment experiences through its AI-driven products and services [1]
幸福来上涨5.13%,报0.82美元/股,总市值5521.63万美元
Jin Rong Jie· 2025-08-11 13:48
资料显示,Paranovus Entertainment Technology Ltd.专注于AI驱动的娱乐行业,专注于开发AI驱动的游戏 和应用程序,提供沉浸式和引人入胜的娱乐体验。其团队致力于探索新的领域,并通过它的人工智能驱动 的产品和服务提供卓越的价值。 本文源自:金融界 8月11日,幸福来(PAVS)开盘上涨5.13%,截至21:30,报0.82美元/股,成交188.0美元,总市值5521.63万 美元。 财务数据显示,截至2024年03月31日,幸福来收入总额654.48万美元,同比减少71.95%;归母净利 润-1012.62万美元,同比增长85.88%。 作者:行情君 ...
幸福来上涨9.87%,报0.79美元/股,总市值5319.62万美元
Jin Rong Jie· 2025-08-08 15:13
Core Viewpoint - Happiness Comes (PAVS) experienced a significant intraday increase of 9.87%, reaching a price of $0.79 per share, with a total market capitalization of $53.1962 million as of 22:55 on August 8 [1] Financial Performance - As of March 31, 2024, the total revenue for Happiness Comes was $6.5448 million, representing a year-over-year decrease of 71.95% [1] - The net profit attributable to the parent company was -$10.1262 million, showing a year-over-year increase of 85.88% [1] Company Overview - Paranovus Entertainment Technology Ltd. focuses on the AI-driven entertainment industry, specifically in developing AI-powered games and applications to provide immersive and engaging entertainment experiences [1] - The company's team is dedicated to exploring new domains and delivering exceptional value through its AI-driven products and services [1]
幸福来上涨2.9%,报0.78美元/股,总市值5250.26万美元
Jin Rong Jie· 2025-08-07 15:12
本文源自:金融界 作者:行情君 8月7日,幸福来(PAVS)盘中上涨2.9%,截至22:50,报0.78美元/股,成交2375.0美元,总市值5250.26万 美元。 财务数据显示,截至2024年03月31日,幸福来收入总额654.48万美元,同比减少71.95%;归母净利 润-1012.62万美元,同比增长85.88%。 资料显示,Paranovus Entertainment Technology Ltd.专注于AI驱动的娱乐行业,专注于开发AI驱动的游戏 和应用程序,提供沉浸式和引人入胜的娱乐体验。其团队致力于探索新的领域,并通过它的人工智能驱动 的产品和服务提供卓越的价值。 ...
Paranovus Entertainment Technology .(PAVS) - 2025 Q4 - Annual Report
2025-08-04 20:31
UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☐ 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 PURSUANT TO SECTION 13 OR 15(d) 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 March 31, 2025 OR WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIE ...
幸福来上涨6.49%,报0.958美元/股,总市值6453.57万美元
Jin Rong Jie· 2025-08-04 20:13
本文源自:金融界 财务数据显示,截至2024年03月31日,幸福来收入总额654.48万美元,同比减少71.95%;归母净利 润-1012.62万美元,同比增长85.88%。 资料显示,Paranovus Entertainment Technology Ltd.专注于AI驱动的娱乐行业,专注于开发AI驱动的游戏 和应用程序,提供沉浸式和引人入胜的娱乐体验。其团队致力于探索新的领域,并通过它的人工智能驱动 的产品和服务提供卓越的价值。 8月5日,幸福来(PAVS)盘中上涨6.49%,截至03:58,报0.958美元/股,成交327.0美元,总市值6453.57万 美元。 作者:行情君 ...
Paranovus Entertainment Technology Limited Regains Compliance with Nasdaq Periodic Financial Reports Filing Rule
Prnewswire· 2025-04-29 13:00
Group 1 - Paranovus Entertainment Technology Limited has regained compliance with Nasdaq Listing Rule 5250(c)(2) as of April 25, 2025, following the submission of its interim financial statements [1][2] - The compliance determination was based on the Form 6-K filed by the Company on April 24, 2025, which disclosed financial results for the six months ended September 30, 2024 [2] - The filing delinquency matter is now closed, indicating a positive resolution for the Company [2] Group 2 - Paranovus focuses on developing AI-powered entertainment products, including AI-driven games and TikTok-related e-commerce solutions [3] - The Company completed the acquisition of controlling equity interests in Bomie Wookoo Inc. in March 2025, enhancing its e-commerce capabilities [4] - As part of its strategic transformation, Paranovus has exited legacy businesses, including e-commerce and advertising, and ceased its automobile sales business [4]
Paranovus Entertainment Technology Limited Received Nasdaq Notification Letter Related to Late Filing of Form 6-K Reporting Interim Financial Information
Prnewswire· 2025-04-10 21:30
Core Viewpoint - Paranovus Entertainment Technology Limited has received a deficiency letter from Nasdaq due to non-compliance with filing requirements, specifically for not timely submitting its Form 6-K for the period ended September 30, 2024 [1][2]. Group 1: Compliance and Regulatory Actions - The company has 60 calendar days from the date of the deficiency letter to submit a Compliance Plan to regain compliance with Nasdaq Listing Rules [2]. - If the Compliance Plan is accepted, Nasdaq may grant an extension of up to 180 calendar days from the filing's due date, allowing until September 29, 2025, for the company to regain compliance [2]. - The deficiency letter does not have an immediate impact on the listing of the company's Class A ordinary shares on the Nasdaq Capital Market [3]. Group 2: Company Overview and Strategic Developments - Paranovus focuses on developing AI-powered entertainment products, including AI-driven games and TikTok-related e-commerce solutions through its subsidiary [4]. - In March 2025, the company completed the acquisition of controlling equity interests in Bomie Wookoo Inc., which offers e-commerce solutions, as part of its strategic transformation [5]. - The company has exited its legacy businesses, including e-commerce, internet information, and advertising in September 2023, and ceased its automobile sales business in July 2024 [5].
Paranovus Entertainment Technology .(PAVS) - 2024 Q4 - Annual Report
2024-07-31 21:47
Company Name and Structure Changes - The company changed its name to "Paranovus Entertainment Technology Ltd." on March 10, 2023, and began trading under the symbol "PAVS" on March 14, 2023[60]. - The company established a wholly owned subsidiary in Hong Kong on May 6, 2024, and a subsidiary in China on June 17, 2024, both of which currently do not have operating businesses[62]. - The company has not received any inquiries or sanctions from PRC regulatory authorities regarding its corporate structure as of the report date[69]. - The company is required to comply with the Trial Administrative Measures for overseas securities offerings, which took effect on March 31, 2023[69]. - The company has obtained all necessary business licenses from the State Administration for Market Regulation for its PRC subsidiaries[69]. Business Acquisitions and Divestitures - The company acquired 100% of Fuzhou Hekangyuan Trading Co., Ltd. on March 4, 2022, to strengthen its distribution network[61]. - The company sold its nutraceutical and dietary supplements business for RMB 78 million (approximately $11.3 million) on August 7, 2023[61]. - The acquisition of 100% of 2Lab3 in March 2023 marks the company's strategic transition to focus on AI-powered solutions and entertainment industries[66]. - The company divested its nutraceutical and dietary supplements business in August 2023 and suspended its e-commerce and internet information businesses in September 2023[66]. - The e-commerce and internet information and advertising businesses were transferred for cash consideration of RMB 5 million (approximately $0.7 million) on September 1, 2023[120]. Financial Performance and Losses - The e-commerce and internet information business incurred a loss of approximately $21.42 million as of March 31, 2023, compared to a loss of approximately $7.60 million as of March 31, 2022[61]. - For the fiscal year ended March 31, 2024, the company generated revenue of $6,544,819, a decrease of $16,787,404 or 71.95% compared to the previous fiscal year[122]. - The net loss for the fiscal year ended March 31, 2024, was $9,927,324, representing an increase of $62,259,792 or 86.25% from the net loss of $72,187,116 in the fiscal year ended March 31, 2023[122]. - The company incurred a net loss from continuing operations of $3,790,173 for the fiscal year ended March 31, 2024[122]. - Total net loss for the fiscal year ended March 31, 2024, was $9,927,324, a decrease of $62,259,792 compared to $72,187,116 for the fiscal year ended March 31, 2023, primarily due to the termination of discontinued operations[149]. Share Issuance and Capital Raising - The company plans to sell up to 60 million Class A Ordinary Shares at a price of $0.45 per share, aiming for gross proceeds of approximately $27 million[62]. - The company issued three 8% promissory notes, each with a principal amount of $750,000, to fund the development of "10,000 Lives" and general corporate activities[61]. - A private placement generated approximately $6 million from the sale of 3,000,000 Class A ordinary shares at a price of $2.00 per share[204]. - The company plans to raise approximately $27 million by selling up to 60,000,000 Class A ordinary shares at a price of $0.45 per share for strategic acquisitions[210]. Product Development and Launch Plans - The company entered into a software development agreement with Blueline for the interactive game application "10,000 Lives," with a total development fee of $1.9 million[61]. - The Company plans to launch the AI-powered application SimTwin in Q3 2024, which will allow users to interact with digital personas[74]. - The mobile game 10,000 Lives is expected to launch in Q4 2024, integrating AI-generated content and celebrity partnerships[74]. Market Strategy and Expansion Plans - The company aims to use net proceeds from share sales for strategic acquisitions in AI-powered solutions and general corporate purposes[62]. - The company plans to expand its market reach by acquiring firms specializing in AI logistics, delivery services, e-commerce, and advertising placements, although no acquisition targets have been identified yet[66]. - The marketing strategy for the AI entertainment business will leverage social media and digital marketing to engage the target audience[78]. - The AI entertainment business focuses on developing AI-enhanced games and applications, targeting both casual and hardcore gamers, with plans for expansion into North America and Asia-Pacific regions, as well as emerging markets in Latin America, the Middle East, and Africa[34]. Regulatory and Compliance Issues - The company faces potential risks from evolving PRC laws and regulations, which could materially affect its operations and securities value[67]. - The PCAOB's ability to inspect auditors is crucial; failure to comply could lead to trading prohibitions under the HFCA Act[68]. - The PRC's new Cybersecurity Review Measures may impact companies with over one million users, but the company currently does not meet this threshold[71]. - The company has not been subject to any cybersecurity review as it does not operate critical information infrastructure or hold personal information of over one million users[71]. Employee and Compensation Information - CEO Xiaoyue Zhang's annual base salary is $150,000 in cash and $150,000 in Class A ordinary shares, with a one-year term that automatically renews[177]. - CFO Ling Guo's annual base salary is $27,000 in cash and $27,000 in Class A ordinary shares, also with a one-year term that automatically renews[178]. - Total compensation for Minzhu Xu (Chairperson) was $25,000, while Alex Lightman (Director) received $12,500, and John Levy (Former Director) received $50,000 in the fiscal year ended March 31, 2024[180]. - As of March 31, 2024, the company had 11 full-time employees, with 8 located in the PRC and 3 in the United States[191]. Taxation and Financial Regulations - The enterprise income tax rate for PRC resident enterprises is 25%, while High and New Technology Enterprises (HNTEs) benefit from a reduced rate of 15%[105]. - A 10% withholding tax applies to dividends paid by foreign-invested enterprises in the PRC to non-resident foreign investors unless a tax treaty provides for a lower rate[93]. - The Cayman Islands imposes no taxes on profits, income, or gains, making it favorable for ordinary share holders[217]. - The PRC tax authorities have enhanced scrutiny over indirect transfers of equity interests in PRC resident enterprises, potentially subjecting them to PRC tax[219]. Financial Position and Cash Flow - As of March 31, 2024, cash and cash equivalents were $944,242, a decrease from $2,049,362 in 2023 and $303,817 in 2022[157]. - Current assets as of March 31, 2024, were approximately $2.85 million, down from $9.79 million in 2023 and $56.57 million in 2022[157]. - The company incurred a net loss of US$9,927,324 for the financial year ended March 31, 2024, with a cash outflow from operating activities of US$11,875,246[252]. - Total assets decreased from $36,340,209 in 2023 to $7,728,826 in 2024, representing a decline of approximately 78.7%[258]. Internal Controls and Governance - As of March 31, 2024, the company's disclosure controls and procedures were not effective at the reasonable assurance level due to identified material weaknesses[235]. - The company lacks personnel with technical knowledge in areas such as business combinations and goodwill impairment analysis, contributing to material weaknesses in internal control over financial reporting[236]. - Plans to address identified weaknesses include recruiting qualified professionals and investing in technology infrastructure to support financial reporting[237]. - The company has established a code of conduct and ethics applicable to all directors, officers, and employees[188].
Paranovus Entertainment Technology .(PAVS) - 2023 Q4 - Annual Report
2023-07-26 16:00
Company Overview - The company changed its name to "Paranovus Entertainment Technology Ltd." effective March 14, 2023, to better reflect its multiple business lines[188]. - The company operates primarily through its subsidiaries in China, with a focus on nutraceutical and dietary supplements made from Ganoderma spore powder[185]. - The company has established a B2B platform, Taochejun, for automobile sales, focusing on third and fourth tier cities in China[187]. - The company has signed an agreement to sell 100% equity interests of Fujian Happiness for cash consideration of RMB 78 million (approximately $11.3 million)[213]. - The company closed an acquisition of 100% membership interests of 2lab3 on March 28, 2023, to expand into the Web 3.0 industry[219]. Financial Performance - For the fiscal year ended March 31, 2023, the company generated revenue of $98,152,825, an increase of $8,664,167 or 9.68% compared to the previous fiscal year[359]. - The net loss for the fiscal year ended March 31, 2023, was $72,187,116, a decrease of $18,167,035 or 33.63% compared to the net loss of $54,020,081 for the fiscal year ended March 31, 2022[359]. - Total revenue for the year ended March 31, 2023, was $98,152,825, an increase of 9% from $89,488,658 in 2022[373]. - Healthcare products revenue was $31,770,835 in 2023, up from $30,323,831 in 2022, while online store revenue surged to $42,201,865 from $28,014,109[373]. - Internet information and advertising revenue decreased significantly to $1,197,348 in 2023 from $10,538,943 in 2022, indicating a decline of approximately 89%[373]. - The automobile segment generated $22,982,777 in revenue for 2023, compared to $20,611,775 in 2022, reflecting an increase of 11%[373]. Regulatory Compliance - The company is subject to evolving PRC laws and regulations, which could materially impact its operations and securities value[193]. - The company has obtained all necessary business licenses from the State Administration for Market Regulation for its PRC subsidiaries[199]. - The company faces risks related to compliance with the Data Security Law and the Personal Information Protection Law, which could affect its operations[193]. - The company has not received any regulatory objections to its listing on Nasdaq from PRC authorities as of the report date[202]. - The company is currently under review for renewal applications for products that require approval renewal, ensuring continued compliance with CFDA regulations[254]. Business Strategy - The company plans to divest its nutraceutical and dietary supplements business, which has been incurring losses, and transition into the entertainment and AI industries[212]. - The company is transitioning into the entertainment and AI industries, seeking prospective acquisition opportunities in these sectors[220]. - The company has established an online automobile sales platform, Taochejun, which utilizes a WeChat Mini Program to connect automobile dealers with comprehensive trade resources[223][231]. - The company has been focusing on e-commerce since 2020, providing services such as community group buying and cross-border e-commerce, and has a dedicated team for delivery optimization and live streaming[224]. Product and Market Information - As of March 31, 2023, the company had a diverse portfolio of approximately 15 nutraceutical and dietary supplement products, with sales from Lucidum spore powder products, Cordyceps mycelia products, and Ejiao solution products accounting for approximately 5.35%, 16.65%, and 18.7% of gross sales, respectively[220]. - The company has over 50 distributors and more than 10,000 sales terminals across 15 provinces in China as of March 31, 2023, with a customer conversion rate of approximately 50% for exclusive distributors[228][230]. - The company's e-commerce platform "Happy Buy" focuses on providing marketing and agency operation services to small and medium-sized businesses[217]. - The automobile sales platform "Happy Auto," later upgraded to "Taochejun," aims to connect car dealers and enhance the sales experience[218]. Intellectual Property and R&D - The company holds a total of 12 patents and has a dedicated research and development team of 13 employees, recognized as "Outstanding Research and Development Companies" by Nanping Intellectual Property Office[242][243]. - The company has obtained 38 trademarks and 18 patents, enhancing its intellectual property portfolio[313][314]. Employee and Labor Compliance - The company currently has 80 full-time employees and has employment contracts with all employees in accordance with PRC laws[249]. - The company has contributed to the basic and minimum social insurance plan, ensuring compliance with applicable PRC laws and regulations[249]. - The company has not experienced any work stoppages, indicating stable employee relations[249]. - The company is obligated to comply with labor laws, including minimum wage standards and social insurance contributions[319]. Taxation and Financial Obligations - The company is subject to a 10% withholding tax on dividends paid to foreign investors under the PRC Enterprise Income Tax Law[210]. - The company is required to set aside at least 10% of net profits each year for a statutory surplus reserve, which is not distributable as dividends[211]. - The PRC Enterprise Income Tax Law imposes a 25% tax rate on resident enterprises, with a preferential rate of 15% for High and New Technology Enterprises[320]. - The applicable VAT rate for the company is currently 13%, following a reduction from 17% and 16% in previous years[324]. Market Trends and Challenges - The sale of nutraceutical and dietary supplements is slightly seasonal, with higher sales typically occurring in winter due to traditional Chinese dietary culture[248]. - Local governments are providing subsidies for up to 30% of the investment cost for the construction of electric vehicle charging infrastructure[290]. - The State Council encourages the development of new energy vehicles as pillar industries, with municipal governments releasing plans to promote this sector[289].