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Chanson International (CHSN) - 2022 Q4 - Annual Report
CHSNChanson International (CHSN)2023-04-30 16:00

Revenue Performance - Total revenue decreased by 9.7% to 13.3millioninfiscalyear2022,downfrom13.3 million in fiscal year 2022, down from 14.7 million in fiscal year 2021[3] - Revenue from China stores decreased by 25.8% to 9.5millioninfiscalyear2022,comparedto9.5 million in fiscal year 2022, compared to 12.8 million in fiscal year 2021[4] - Revenue from United States stores increased by 99.6% to 3.8millioninfiscalyear2022,upfrom3.8 million in fiscal year 2022, up from 1.9 million in fiscal year 2021[6] - Revenue for 2022 was 13,272,075,adecreaseof9.113,272,075, a decrease of 9.1% from 14,690,295 in 2021[20] Profitability - Net loss for fiscal year 2022 was 1.3million,comparedtonetincomeof1.3 million, compared to net income of 0.5 million in fiscal year 2021[11] - Gross profit decreased by 11.9% to 6.1millioninfiscalyear2022,withagrossmarginof46.06.1 million in fiscal year 2022, with a gross margin of 46.0%[8] - Gross profit for 2022 was 6,102,671, down from 6,930,423in2021,reflectingagrossmarginof45.96,930,423 in 2021, reflecting a gross margin of 45.9%[20] - Total comprehensive loss for 2022 was (1,657,910), compared to a comprehensive income of 595,721in2021[20]Expenses−Operatingexpenseswere595,721 in 2021[20] Expenses - Operating expenses were 7.5 million in fiscal year 2022, slightly up from 7.4millioninfiscalyear2021[9]−Totaloperatingexpensesincreasedto7.4 million in fiscal year 2021[9] - Total operating expenses increased to 7,540,696 in 2022, up from 7,375,307in2021,primarilyduetohighersellingandadministrativeexpenses[20]CashFlow−CashasofDecember31,2022,was7,375,307 in 2021, primarily due to higher selling and administrative expenses[20] Cash Flow - Cash as of December 31, 2022, was 2.9 million, down from 3.9millionasofDecember31,2021[11]−Cashprovidedbyoperatingactivitieswas3.9 million as of December 31, 2021[11] - Cash provided by operating activities was 551,348 in 2022, a significant decrease from 1,778,246in2021[23]−Cashusedininvestingactivitieswas1,778,246 in 2021[23] - Cash used in investing activities was (860,034) in 2022, compared to (2,030,921)in2021,indicatingreducedcapitalexpenditures[23]−Cashprovidedbyfinancingactivitieswas(2,030,921) in 2021, indicating reduced capital expenditures[23] - Cash provided by financing activities was 9,929 in 2022, a recovery from (178,240)in2021[23]−Cashandcashequivalentsattheendof2022were(178,240) in 2021[23] - Cash and cash equivalents at the end of 2022 were 2,915,470, down from 3,896,812attheendof2021[23]ShareholderInformation−Basicanddilutedlosspershareinfiscalyear2022was3,896,812 at the end of 2021[23] Shareholder Information - Basic and diluted loss per share in fiscal year 2022 was 0.14, compared to earnings per share of 0.06infiscalyear2021[11]−Earningspersharefor2022was0.06 in fiscal year 2021[11] - Earnings per share for 2022 was (0.14), down from 0.06in2021[20]−Thecompanycompleteditsinitialpublicofferingof3,390,000ClassAordinarysharesatapriceof0.06 in 2021[20] - The company completed its initial public offering of 3,390,000 Class A ordinary shares at a price of 4.00 per share on April 3, 2023[12] Future Plans - The company plans to expand its product selection and open more stores across the United States to enhance brand awareness and shareholder value[2]