Greenpro Capital(US:GRNQ)2025-05-14 10:16Revenue Performance - Total revenue for the three months ended March 31, 2025, was $352,755, a decrease of 46.4% from $658,399 in the same period of 2024[154]. - Revenue from business services was $310,853 for the three months ended March 31, 2025, down 51.0% from $633,792 in 2024, primarily due to fewer advisory services rendered[155]. - Digital platform revenue was $26,256 for the three months ended March 31, 2025, compared to $0 in 2024, indicating the launch of digital asset trading[156]. - Rental revenue decreased to $15,646 for the three months ended March 31, 2025, from $24,607 in 2024, reflecting a decline in leasing activities[157]. - Related party service revenue totaled $21,975 for the three months ended March 31, 2025, a significant decrease from $194,249 in 2024[178]. - The company expects revenue from its service business to recover slightly as it explores new markets[154]. Operating Costs and Losses - Total operating costs and expenses were $1,041,688 for the three months ended March 31, 2025, down from $1,132,112 in 2024[159]. - Loss from operations increased to $688,933 for the three months ended March 31, 2025, compared to $473,713 in 2024, attributed to decreased revenue[160]. - Net loss for the three months ended March 31, 2025, was $635,576, an increase from $272,910 in 2024, primarily due to reduced service revenue[168]. - The company incurred a net loss of $635,576 for the three months ended March 31, 2025, with an accumulated deficit of $37,899,955[206]. Cash Flow and Financial Position - Net cash used in operating activities was $240,942 for the three months ended March 31, 2025, a decrease from $540,043 in 2024[209]. - Cash balance decreased to $885,924 as of March 31, 2025, down 21.2% from $1,124,818 on December 31, 2024[205]. - Net cash provided by investing activities was $39,950 for the three months ended March 31, 2025, compared to $176,100 in 2024, a decrease of 77.7%[211]. - Net cash provided by financing activities was $6,959 for the three months ended March 31, 2025, contrasting with net cash used of $206,090 in 2024[213]. Related Party Transactions - Related party other income was $16,558, an increase of 45.5% from $11,426 in the same period of 2024[185]. - Related party interest income for the three months ended March 31, 2025, was $1,397, up 41.9% from $985 in 2024[186]. - Gain on disposal of related party investment was $39,800 for the three months ended March 31, 2025, compared to $179,980 in 2024, representing a decrease of 77.9%[187]. - Amounts due from related parties increased to $985,541 as of March 31, 2025, from $954,184 on December 31, 2024[191]. - Deferred costs of revenue to related parties were $12,500 as of March 31, 2025, down from $18,750 on December 31, 2024[193]. General and Administrative Expenses - General and administrative expenses decreased to $948,046 for the three months ended March 31, 2025, from $1,051,238 in 2024, mainly due to lower provision for credit losses[166].