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Based on the provided financial report articles, the title of the article is: "Quarterly Report (10-Q) for the quarterly period ended September 30, 2024" Note that the title may vary depending on the specific report and the company's reporting requirements.

Press release · 05/17 05:56
Based on the provided financial report articles, the title of the article is: "Quarterly Report (10-Q) for the quarterly period ended September 30, 2024" Note that the title may vary depending on the specific report and the company's reporting requirements.

Based on the provided financial report articles, the title of the article is: "Quarterly Report (10-Q) for the quarterly period ended September 30, 2024" Note that the title may vary depending on the specific report and the company's reporting requirements.

The financial report presents the financial statements of the company for the periods ended September 30, 2024, and December 31, 2023. The company reported net income of $X million for the nine months ended September 30, 2024, compared to $Y million for the same period in 2023. Total revenue increased by $Z million, or X%, to $W million for the nine months ended September 30, 2024, driven by growth in sales of X and Y products. The company’s gross profit margin was X%, compared to Y% for the same period in 2023. The company’s balance sheet as of September 30, 2024, showed total assets of $X million, total liabilities of $Y million, and total equity of $Z million. The company’s cash and cash equivalents were $X million as of September 30, 2024.

Overview of Financial Performance

Sino Green Land Corporation, a company focused on plastic recycling, has experienced a significant decline in its financial performance over the past year. The key highlights from the financial report are:

Revenues and Costs

  • Net revenues decreased by 60% in the three months ended March 31, 2025 compared to the same period in 2024, and by 45% in the nine months ended March 31, 2025 compared to the same period in 2024. This was mainly due to a decrease in sales of plastic recycling products.
  • Cost of revenues decreased by 6% in the three months ended March 31, 2025 and by 12% in the nine months ended March 31, 2025, in line with the revenue decline.

Gross Loss

  • Gross loss increased significantly by 195% in the three months ended March 31, 2025 and by 90% in the nine months ended March 31, 2025 compared to the same periods in 2024. This was primarily due to the decrease in revenues while costs remained relatively steady.

Expenses

  • General and administrative expenses decreased by 47% in the three months ended March 31, 2025 and by 45% in the nine months ended March 31, 2025, mainly due to reductions in auditor fees, service, and professional fees.

Net Loss

  • Net loss increased by 70% in the three months ended March 31, 2025 and by 25% in the nine months ended March 31, 2025 compared to the same periods in 2024, primarily due to the decrease in sales.

Liquidity and Capital Resources

  • As of March 31, 2025, the company had a working capital deficit of $3,750,487, an increase of $1,071,050 from June 30, 2024.
  • The company’s independent auditor has raised substantial doubt about its ability to continue as a going concern within one year after the date the financial statements are issued.
  • Cash flow used in operating activities decreased by $117,614 in the nine months ended March 31, 2025 compared to the same period in 2024, mainly due to changes in inventories, prepayments, and accrued liabilities.
  • Cash flow used in investing activities decreased by $871,249 in the nine months ended March 31, 2025 compared to the same period in 2024, primarily due to less acquisition of property, plant, and equipment.
  • Cash flow provided by financing activities decreased by $892,512 in the nine months ended March 31, 2025 compared to the same period in 2024, mainly due to a decrease in loan proceeds.

Outlook The company’s financial performance has deteriorated significantly over the past year, with declining revenues, increasing losses, and a weakening liquidity position. The auditor’s going concern warning and the company’s working capital deficit raise serious concerns about its ability to continue operations in the near future. Unless the company can secure additional financing or significantly improve its operational efficiency, its long-term viability may be in jeopardy.