Greenpro Capital(US:GRNQ)2026-03-30 10:33Revenue Performance - Total revenues decreased to $2,073,557 in 2025 from $3,496,405 in 2024, a decline of approximately 40.7%[435] - Service business revenue fell to $1,843,968 in 2025 from $3,091,903 in 2024, a decrease of about 40.3%[436] - Digital revenue decreased to $168,240 in 2025 from $327,802 in 2024, representing a decline of approximately 48.7%[437] - Rental revenue was $61,349 in 2025, down from $76,700 in 2024, a decrease of about 20.0%[438] - Related party service revenue for 2025 totaled $58,861, a decrease of 83.9% from $364,336 in 2024, representing 2% of total service revenue[461] Expenses and Losses - General and administrative expenses reduced to $3,818,580 in 2025 from $4,039,243 in 2024, a decrease of approximately 5.5%[448] - Loss from operations increased to $2,152,416 in 2025 compared to $969,278 in 2024, reflecting a rise of approximately 121.5%[441] - Net loss for 2025 was $2,982,333, significantly higher than the net loss of $725,827 in 2024, an increase of approximately 310.5%[454] - The company recorded net other expenses of $817,676 in 2025, compared to net other income of $247,890 in 2024[449] Related Party Transactions - Digital revenue from related parties in 2024 was $21,000, with 95% generated from the CEO, Mr. Lee[463] - Cost of service revenue to related parties increased to $14,642 in 2025 from $10,934 in 2024[464] - Related party G&A expenses decreased to $145,505 in 2025 from $149,817 in 2024[467] - Other income from related parties was $38,729 in 2025, down from $47,635 in 2024[471] - Interest income from related parties increased to $6,103 in 2025 from $5,073 in 2024[472] - Gain on disposal of related party investments was $39,800 in 2025, a significant decrease from $324,917 in 2024[474] Cash Flow and Financing - Cash balance decreased to $636,659 as of December 31, 2025, from $1,124,818 in 2024, a decline of 43.4%[499] - Net cash used in operating activities increased to $1,790,250 in 2025 from $1,360,454 in 2024[503] - Net cash provided by investing activities was $37,162 in 2025, a decrease from $601,277 in 2024, primarily due to lower proceeds from investment disposals[508][509] - Financing activities generated net cash of $1,234,025 in 2025, primarily from the sale of Common Stock in private placements totaling $1,235,000[510] - The company issued 1,050,000 shares of Common Stock in private placements in 2025, increasing total shares outstanding to 8,625,813[511] - In 2024, the company did not issue any shares, maintaining 7,575,813 shares outstanding as of December 31[512] Future Outlook - The company expects slight recovery in service business revenue as it explores new markets[435] - The company reported net cash used in operating activities over the past two years, indicating ongoing operational challenges[507] - The company is classified as a smaller reporting company and is not required to provide detailed market risk disclosures[513] Acquisitions - The acquisition of the remaining 40% shares of Forward Win International Limited was completed in April 2024, making it a wholly owned subsidiary[451] Non-Cash Expenses - Non-cash expenses for 2025 included depreciation and amortization of $240,147, impairment of property and equipment of $813,552, and impairment of goodwill of $6,035, totaling significant non-cash charges[505] - In 2024, non-cash expenses included depreciation and amortization of $245,921 and impairment of goodwill of $82,561, with total non-cash income from gains on disposal of investments amounting to $346,551[506]