Welcome to our dedicated page for Entrepreneur Universe Bright Group news (Ticker: EUBG), a resource for investors and traders seeking the latest updates and insights on Entrepreneur Universe Bright Group stock.
Entrepreneur Universe Bright Group (EUBG) is a Nevada holding company whose main operation is in China, where it provides digital marketing consultation, consulting, sourcing, and marketing services through its wholly owned subsidiaries in Hong Kong SAR and mainland China. This news page aggregates company-issued updates and third-party coverage related to EUBG’s business and financial performance.
Readers can find quarterly and annual financial results that detail revenue, gross profit, net income, and management commentary on operating conditions in the Chinese market. EUBG’s releases discuss how demand from startups and small and medium-sized enterprises in China affects its consulting activities, as well as how macroeconomic factors and the COVID-19 pandemic have influenced its business environment over time.
News items also cover corporate milestones, such as EUBG’s uplisting to the OTCQB Venture Market, and announcements of special cash dividends, which the company has linked to its financial performance and retained earnings. Business updates describe the company’s digital marketing consultancy focus, including services for clients engaged in live streaming, online courses, and e-commerce-related activities.
By following this page, investors and observers can review EUBG’s own press releases alongside other news that reflects its consulting, sourcing, and marketing operations in China, its client mix among startups and small-size companies, and its stated plans to expand digital advisory and data-driven marketing solutions within the Chinese digital economy.
Entrepreneur Universe Bright Group (EUBG) announced that the U.S. Securities and Exchange Commission has declared effective its Form S-1 resale registration statement as of February 6, 2023. This registration allows for the potential resale of 140,000,000 shares of common stock held by certain stockholders. Importantly, EUBG will not receive any proceeds from this sale, and it is not obligated for the selling stockholders to actually sell the shares. The registration's purpose is to provide a framework for resales under the Securities Act of 1933. More details are available on the SEC's website.
Entrepreneur Universe Bright Group (EUBG) reported Q3 2022 financial results showing a 50.6% decline in revenue to $801,784, primarily due to reduced consultancy services amid ongoing COVID-19 challenges in China. Gross profit also decreased by 11.9% to $661,775, with a net loss of $31,999 compared to a profit of $207,551 in the same quarter last year. For the nine months ending September 30, 2022, revenue dropped 36.3% year-over-year to $2,851,656. The company continues to explore new business opportunities to stabilize income amid ongoing economic disruptions.
Entrepreneur Universe Bright Group (EUBG) has announced a change in auditors, appointing Prager Metis CPAs, LLC as its new independent auditor effective September 7, 2022. The previous auditor, Centurion ZD CPA & Co., was dismissed on the same date. The reports from the former auditor for 2021 and 2020 were unmodified and did not contain any adverse opinions. EUBG focuses on providing digital marketing consulting services in China, primarily for start-ups, aiming to connect businesses with e-commerce platforms in the region.
Entrepreneur Universe Bright Group (EUBG) reported its Q2 2022 financial results, revealing a 3.7% decline in revenue to $840,868 compared to $873,084 in Q2 2021. However, the gross profit increased by 8.0% to $727,536, driven by reduced costs of revenue. Notably, net income surged by 117.8% to $265,850, despite challenges from COVID-19 restrictions impacting client activities. For the first half of 2022, total revenue was $2,049,872, reflecting a 28.2% drop year-over-year, with net income decreasing by 39.7% to $657,023.
Entrepreneur Universe Bright Group (EUBG) reported a 39.1% decline in revenue for Q1 2022, totaling $1,209,004, down from $1,983,860 in Q1 2021. The significant drop is attributed to challenges posed by the ongoing COVID-19 pandemic, particularly the impact of government-mandated business closures in China. As a result, net income fell 59.5% to $391,173. While the company generated modest income from new digital training services, it was insufficient to offset the losses. Cash reserves were stable at approximately $7.7 million.
Entrepreneur Universe Bright Group (EUBG) reported a 38.6% decline in revenue, totaling $5,637,396 for 2021, down from $9,187,023 in 2020. This revenue drop was attributed to the Delta variant of COVID-19, leading to service suspensions from April to August 2021. Despite this, net income decreased to $1,086,400 from $4,968,070 in 2020, while cash reserves improved to $7,649,129. The company’s expenses significantly rose, with general and administrative costs increasing by 78.4%.
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Entrepreneur Universe Bright Group (EUBG) reported unaudited financial results for Q3 2021, revealing a 50.1% revenue decline to $1.62 million from $3.25 million in Q3 2020. Gross profit decreased by 75.6% to $751,504, while net income fell 89.2% to $207,551, attributed to resource realignment towards KOL Training Coordination and the impact of COVID-19. Despite challenges, EUBG is optimistic about future growth in the KOL economy, highlighting increased client demand and strategic staff hires.