ENTREPRENEUR UNIVERSE BRIGHT GROUP (“EUBG” or the “Corporate”) (OTCBB: EUBG), a virtual advertising consulting corporate, introduced its unaudited monetary effects for the second one quarter ended June 30, 2022.
Mr. Guolin Tao, CEO of Entrepreneur Universe Brilliant Crew commented, “Because of the federal government measures taken to include COVID-19, the offline actions of the Corporate’s PRC subsidiary have been limited from overdue January to Might 2020, leading to cancellations or postponements of the selling efforts of our shoppers. In particular, on account of executive mandated closures of non-essential trade in China, most of the Corporate’s shoppers’ trade have been suspended whilst others completely closed their companies. From December 22, 2021 to January 24, 2022, Xi’an town, the PRC, went into lockdown following a coronavirus outbreak that officers attributed to the delta variant. From April 16, 2022 to April 19, 2022, the town was once beneath transient controls of social actions after reporting greater than 40 infections in part month. This affected each the Corporate’s virtual advertising consulting services and products and our KOL Coaching Similar Products and services.”
2d Quarter 2022 Unaudited Monetary Effects
- Earnings diminished by means of 3.7% to $840,868
- Gross benefit higher by means of 8.0% to $727,536
- Web source of revenue higher by means of 117.8% to $265,850
Earnings and price of earnings: All the way through the 3 months ended June 30, 2022, we generated earnings of $840,868 in comparison to $873,084 for the 3 months ended June 30, 2021, representing a lower of $32,216 or 3.7% as in comparison with the prior length. For the 3 months ended June 30, 2022, our earnings from consultancy services and products and sourcing and advertising services and products have been $680,606 and $160,262, respectively; whilst earnings for the 3 months ended June 30, 2021 was once wholly generated from our consultancy services and products. Price of earnings was once $113,332 for the 3 months ended June 30, 2022 in comparison to $199,451 for the 3 months ended June 30, 2021. The lower of price of earnings for the 3 months ended June 30, 2022 was once basically because of our senior control now not at once fascinated about acting the services and products however involved in control paintings. Subsequently, much less direct senior control prices have been incurred within the consultancy services and products and souring and advertising carrier.
Promoting bills: All the way through the 3 months ended June 30, 2022, we incurred $8,319 promoting bills in comparison to $85,760 for the 3 months ended June 30, 2021, representing a lower of $77,441 or 90.3% as in comparison with the prior length. The lower of marketing bills was once basically because of the tightening of leisure insurance policies all through the length and the personnel prices incurred in promoting actions have been dropped by means of $42,974 or 90.5% for the 3 months ended June 30, 2022.
Basic and administrative bills: All the way through the 3 months ended June 30, 2022, we incurred $331,385 common and administrative bills in comparison to $351,935 for the 3 months ended June 30, 2021, representing a lower of $20,550 or 5.8% as in comparison with the prior length. The slight lower for the 3 months ended June 30, 2022 was once basically because of much less audit charges {and professional} charges charged by means of the pro events. Our common and administrative bills consisted basically of audit charges, skilled charges, payroll bills and consultancy charges.
General different source of revenue, internet: All the way through the 3 months ended June 30, 2022, we generated internet different source of revenue of $58,099 in comparison to $32,392 for the 3 months ended June 30, 2021, representing an building up of $25,707 or 79.4% as in comparison with the prior length. Our different source of revenue basically consisted of financial institution hobby source of revenue, alternate charge variations and sure sundry earning.
Source of revenue tax expense: All the way through the 3 months ended June 30, 2022, we incurred source of revenue tax expense of $180,081 in comparison to $146,289 for the 3 months ended June 30, 2021, representing an building up of $33,792 or 23.1% as in comparison with the prior length. The source of revenue tax bills have been charged in China.
For the 3 months ended June 30, 2022, our source of revenue tax bills made from present tax and deferred tax bills of $131,409 and $48,672, respectively, in comparison to $122,745 and $23,544 for the 3 months ended June 30, 2021.
Web source of revenue: On account of the above, we generated a internet source of revenue of $265,850 and $122,041 for the 3 months ended June 30, 2022 and 2021, respectively, representing an building up of $ 143,809 or 117.8% as in comparison with the prior length.
Money and money equivalents. As of June 30, 2022 and December 31, 2021, $7.64 million and $7.65 million of the Corporate’s money and money equivalents, respectively have been held at monetary establishments situated within the PRC and Hong Kong that control believes to be of prime credit score high quality.
Six Months Ended June 30, 2022 Unaudited Monetary Effects
- Earnings diminished by means of 28.2% to $2,049,872
- Gross benefit diminished by means of 33.4% to $1,624,061
- Web source of revenue diminished by means of 39.7% to $657,023
Earnings and price of earnings: All the way through the six months ended June 30, 2022, we generated earnings of $2,049,872 in comparison to $2,856,944 for the six months ended June 30, 2021, representing a lower of $807,072 or 28.2% as in comparison with the prior length. The lower was once basically because of our consultancy services and products source of revenue, generated from shoppers who engaged in on-line classes trade, dropped by means of $1,950,347 as in comparison with final length. This was once for the reason that finish shoppers become extra affected person and wary in opting for on-line classes. We persevered to search for other trade alternatives to stabilize our source of revenue streams. All the way through the six months ended June 30, 2022, we generated $272,962 from our new virtual coaching similar services and products and $576,582 from our consultancy services and products to a buyer who engaged in are living streaming trade. Then again, those new source of revenue streams most effective compensated part of the earnings aid in present length. As of the date of this submitting, the virtual coaching similar services and products with Jade Chook stay suspended. Subsequently, we anticipated the brand new earnings is probably not to be had to compensate the earnings aid till additional realize. Price of earnings was once $425,811 for the six months ended June 30, 2022 in comparison to $418,772 for the six months ended June 30, 2021. For the six months ended June 30, 2022, the price of earnings basically represented the personnel prices for our consulting services and products and the company charges for our virtual coaching similar services and products.
Promoting bills: All the way through the six months ended June 30, 2022, we incurred $24,914 promoting bills in comparison to $170,014 for the six months ended June 30, 2021, representing a lower of $145,100 or 85.3% as in comparison with the prior length. The lower of marketing bills was once basically because of the tightening of leisure insurance policies all through the length and the personnel prices incurred in promoting actions have been dropped by means of $70,200 or 80.0% for the six months ended June 30, 2022.
Basic and administrative bills: All the way through the six months ended June 30, 2022, we incurred $642,673 common and administrative bills in comparison to $579,301 for the six months ended June 30, 2021, representing an building up of $63,372 or 10.9% as in comparison with the prior length. The rise for the six months ended June 30, 2022 was once basically due positive senior control now not at once fascinated about acting the services and products however involved in control paintings. Subsequently, extra senior control prices have been incurred all through the length. Our common and administrative bills consisted basically of audit charges, skilled charges, payroll bills and consultancy charges.
General different source of revenue, internet: All the way through the six months ended June 30, 2022, we generated internet different source of revenue of $159,921 in comparison to $70,094 for the six months ended June 30, 2021, representing an building up of $89,827 or 128.2% as in comparison with the prior length. Our different source of revenue basically consisted of financial institution hobby source of revenue, alternate charge variations and sure sundry earning.
Source of revenue tax expense: All the way through the six months ended June 30, 2022, we incurred source of revenue tax expense of $459,372 in comparison to $670,274 for the six months ended June 30, 2021, representing a lower of $210,902 or 31.5% as in comparison with the prior length. The source of revenue tax bills have been charged in China.
For the six months ended June 30, 2022, our source of revenue tax bills made from present tax and deferred tax bills of $335,479 and $123,893, respectively, in comparison to $521,510 and $148,764 for the six months ended June 30, 2021. The lower of the present tax and deferred tax was once basically aligned with the aid of earnings and gross benefit all through the length.
Web source of revenue: On account of the above, we generated a internet source of revenue of $657,023 and $1,088,677 for the six months ended June 30, 2022 and 2021, respectively.
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