Entrepreneur Universe Bright Group Announces Audited Financial Results for Fiscal Year Ended December 31, 2024

Rhea-AI Summary

Entrepreneur Universe Bright Group (EUBG) reported its audited financial results for FY2024, showing a 15.5% revenue decline to $5.27 million from $6.24 million in 2023. The decrease was primarily attributed to reduced revenue from a live streaming business client, partially offset by a $471,979 increase in other consultancy services.

The company's net income decreased 34.8% to $1.49 million in 2024 from $2.28 million in 2023. In September 2024, EUBG distributed a special cash dividend of $0.0013 per share, totaling approximately $2.2 million.

Operating through its Chinese subsidiary, Xi'an Yun Chuang Space Information Technology, EUBG provides digital marketing consulting services, focusing on brand visibility and sales performance enhancement through e-commerce platforms. The company plans to expand its services while addressing challenges including Chinese renminbi fluctuations and rising labor costs.

Positive

• Maintained profitability with $1.49 million net income in 2024
• Distributed special cash dividend of $2.2 million to shareholders
• Successfully diversified revenue with $471,979 increase in other consultancy services

Negative

• Revenue declined 15.5% to $5.27 million in 2024
• Net income decreased 34.8% compared to 2023
• Significant revenue loss from live streaming business client

XI'AN, China, March 30, 2025 /PRNewswire/ -- On March 28, 2025, Entrepreneur Universe Bright Group ("EUBG" or the "Company"), a Nevada corporation, announced its audited financial results for the fiscal year ended December 31, 2024. The Company reported total revenue of $5.27 million, representing a 15.5% decrease from $6.24 million in 2023.  

In August 2024, the Company declared a special cash dividend of $0.0013 per share, amounting to approximately $2.2 million, which was distributed to shareholders in September 2024. This move reflects the Company's commitment to delivering shareholder value while maintaining a solid financial position.

Financial Highlights

• Total Revenue: $5.27 million in fiscal year 2024, a decrease of 15.5% from $6.24 million in 2023, primarily due to reduced revenue in a client who is engaged in live streaming business. However, increased revenue of $471,979 from other consultancy services partially offset the decline.
• Net Income: $1.49 million in 2024, representing a decrease of approximately 34.8% compared to $2.28 million in 2023, yet the Company remained profitable.
• Cash Dividend: In September 2024, the Company paid a one-time special cash dividend of approximately $2.2 million, reflecting its financial stability and ongoing commitment to shareholder returns.

Business and Market Update
EUBG operates primarily through its wholly-owned subsidiary in China, Xi'an Yun Chuang Space Information Technology Co., Ltd. ("PRC Subsidiary"), and focuses on providing digital marketing consulting services. The Company assists startups and small businesses in enhancing brand visibility and improving sales performance through e-commerce platforms.

Despite a decline in live-streaming business revenue, the Company mitigated associated risks by expanding other consultancy services.  

Strategic Outlook
EUBG plans to further expand its digital marketing consultancy services, including brand positioning, omni-channel sales strategy development, and e-commerce traffic optimization.

Risks and Challenges
The Company acknowledges multiple operational risks, including fluctuations in the Chinese renminbi, rising labor costs, and other factors that may impose pressure on the Company's operations.

Management Commentary
Mr. Guolin Tao, CEO of EUBG, stated:

"Despite the challenging market environment in 2024, we maintained profitability by optimizing our business structure and controlling costs. Moving forward, we will continue to diversify our service offerings, and proactively address changes in the regulatory landscape."

About Entrepreneur Universe Bright Group
Entrepreneur Universe Bright Group is a Nevada holding company that conducts its operations through its wholly-owned subsidiaries in Hong Kong SAR and the mainland of the People's Republic of China. The Company primarily engages in consulting, sourcing, and marketing services in China with support from its Hong Kong subsidiary. EUBG is committed to providing business consulting services across multiple markets in China. For more information, please visit: www.eubggroup.com.

Safe Harbor Statement
This press release contains projections and "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995 related to the Company's business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are not historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate," or similar expressions that do not relate solely to historical matters, it is making forward-looking statements.

Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially from those discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; future business development; financial condition and results of operations; product and service demand and acceptance; competition and pricing pressures; changes in technology; government regulations; fluctuations in economic and business conditions in China; and assumptions underlying or related to any of the foregoing and other risks contained in the Company's filings with the SEC. Investors are cautioned not to place undue reliance on any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.

 

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SOURCE Entrepreneur Universe Bright Group

FAQ

What was EUBG's revenue and net income for fiscal year 2024?

EUBG reported revenue of $5.27 million and net income of $1.49 million for fiscal year 2024.

How much was EUBG's special cash dividend in 2024?

EUBG paid a special cash dividend of $0.0013 per share, totaling approximately $2.2 million in September 2024.

What caused EUBG's revenue decline in 2024?

The 15.5% revenue decline was primarily due to reduced revenue from a live streaming business client.

How did EUBG offset its revenue decline from live streaming business?

EUBG partially offset the decline with a $471,979 increase in revenue from other consultancy services.

What are the main risks facing EUBG's business operations?

Key risks include fluctuations in the Chinese renminbi, rising labor costs, and regulatory changes in China.