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Linkage Global Inc. provides cross-border e-commerce integrated services for international merchants, brands, and import-export trading enterprises, with operations tied to Japan, Hong Kong, and China. Its service mix includes cross-border sales, digital marketing, e-commerce training, international store services, ERP and e-commerce software, social e-commerce, and fully managed e-commerce operations.
Recurring company developments include operating results from cross-border sales and integrated e-commerce services, changes in product strategy, and capital actions such as private placements and convertible note financing. Updates also cover intellectual property licensing for smart headphone products, including acoustic algorithms, intangible cultural heritage craftsmanship designs, and wearable technologies, as well as Nasdaq listing-compliance matters and governance changes.
Linkage Global reported financial results for fiscal year 2024, showing a 19.19% decrease in total revenues to USD10.29 million from USD12.73 million in FY2023. Despite revenue decline, gross profit increased by 123.91% to USD4.17 million, primarily driven by new fully managed e-commerce operation services launched in April 2024, which generated USD3.28 million in revenue with an 89.62% gross margin.
Cross-border sales decreased by USD4.11 million, with Japanese subsidiary experiencing a 53.12% decline due to yen depreciation. Digital marketing revenues fell from USD1.53 million to USD0.31 million following Google's stricter incentive policies. The company's net loss improved by 32.69% to USD0.44 million from USD0.65 million in FY2023.
Linkage Global (NASDAQ: LGCB) has received a notification from Nasdaq on October 31, 2024, regarding non-compliance with the minimum bid price requirement. The company's stock has traded below the required $1 per share for 30 consecutive business days. Linkage has been granted an initial 180-day compliance period until April 29, 2025, to regain compliance. If unsuccessful, the company may be eligible for an additional 180-day period if it meets other listing requirements. The company is evaluating options to regain compliance, though success is not guaranteed.
Linkage Global Inc (NASDAQ: LGCB), a cross-border e-commerce integrated services provider based in Japan, has appointed Mr. Hanson Ji as its new Chief Financial Officer, effective October 07, 2024. Mr. Ji brings nearly 10 years of experience in auditing and capital markets to the role.
Mr. Ji's background includes senior positions at Zhongrui Capital (Hong Kong) , where he managed IPO financial consulting, and Xingyin Information Technology (Shanghai), known as 'Xiaohongshu App', where he oversaw internal control audits. He also worked as a senior auditor at Ernst & Young Hua Ming LLP Shanghai Branch.
A Chinese Certified Public Accountant, Mr. Ji holds a Bachelor of Commerce in Accounting and Finance from Monash University. Linkage's CEO, Mr. Zhihua Wu, expressed confidence that Mr. Ji's expertise will drive the company's further development.
Linkage Global Inc, a cross-border e-commerce integrated services provider, reported its financial results for H1 2024. Key highlights include:
- Net revenues decreased to USD4.80 million from USD9.03 million in H1 2023
- Gross profit fell 64% to USD0.71 million, with gross margin at 14.77%
- Net loss of USD0.90 million compared to net income of USD0.55 million in H1 2023
The decline was primarily due to tightened inspection policies for goods imported from Japan to China, Japanese yen depreciation, and reduced incentives from Google for digital marketing services. The company is diversifying its advertising partnerships and focusing on other e-commerce related services in response to these challenges.
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