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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Amlogi Holding Corporation | NASDAQ:BTOC | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.22 | 4.66% | 4.94 | 4.51 | 4.97 | 4.94 | 4.64 | 4.70 | 2,453 | 21:03:30 |
Financial Results for the Three Months Ending March 31, 2024:
Financial Results for the Nine Months Ending March 31, 2024:
Operational Highlights
Management Commentary
Aidy Chou, Chairman and Chief Executive Officer of Armlogi, commented, “At Armlogi, we offer a one-stop shop for warehousing and logistics services supported by advanced technology and specialized equipment which help us ensure that every package delivered exceeds the expectations of our customers and partners worldwide.”
“We are pleased with our revenue growth trajectory compared to a year ago, highlighted by our expanded warehouse operational capacities and the growth in our transportation services. Our quality warehousing and logistics services, coupled with our reasonable service and delivery fees and advanced warehouse and order management technology, pave the way for our continued business growth in the $2 trillion global cross-border e-commerce industry.”
“I extend my heartfelt gratitude to our team, partners, and shareholders for their steadfast support as we continue to grow and strengthen our position in the logistics industry.”
Conference Call & Audio Webcast
Armlogi’s management team will hold an earnings conference call at 1:30 PM Pacific Time (4:30 PM Eastern Time) on Thursday, June 13, 2024, to discuss the Company’s financial results and provide an overview of the Company’s operations. Aidy Chou, Chairman and Chief Executive Officer, and Ian Zhou, Chief Financial Officer, will lead the conference call with other company executives available to answer questions.
To access the call by phone, please dial 1-800-579-2543 (international callers, please dial 1-785-424-1789) approximately 10 minutes before the start of the call. Refer to conference ID: ARMLOGI. **NOTE: THIS CONFERENCE ID WILL BE REQUIRED FOR ENTRY
A live audio conference call webcast will be available online at https://viavid.webcasts.com/starthere.jsp?ei=1675610&tp_key=7cdba4f6ed.
About Armlogi Holding Corp.
Armlogi Holding Corp., based in Walnut, CA, is a fast-growing U.S.-based warehousing and logistics service provider that offers a comprehensive package of supply-chain solutions relating to warehouse management and order fulfillment. The Company caters to cross-border e-commerce merchants looking to establish overseas warehouses in the U.S. market. With eleven warehouses covering over two million square feet, the Company offers comprehensive one-stop warehousing and logistics services. The Company’s warehouses are equipped with facilities and technology for handling and storing large and bulky items. For more information, please visit www.armlogi.com.
Forward-Looking StatementsThis press release contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “intends,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us.
Contact Information:
Company Contact:info@armlogi.com
Investor Relations Contact:Matthew Abenante, IRCPresidentStrategic Investor Relations, LLC Tel: 347-947-2093Email: matthew@strategic-ir.com
*** tables follow ***
ARMLOGI HOLDING CORP.CONDENSED CONSOLIDATED BALANCE SHEETSAS OF MARCH 31, 2024 (UNAUDITED) AND JUNE 30, 2023(US$, except share data, or otherwise noted) | ||||||||
March 31, 2024 | June 30, 2023 | |||||||
US$ | US$ | |||||||
Unaudited | Audited | |||||||
Assets | ||||||||
Current Assets | ||||||||
Cash | 3,985,003 | 6,558,099 | ||||||
Restricted cash | 2,061,673 | — | ||||||
Accounts receivable and other receivable, net | 25,104,670 | 17,396,421 | ||||||
Other current assets | 2,019,166 | 1,642,346 | ||||||
Deferred share issuance costs | 1,942,943 | 1,304,712 | ||||||
Prepaid expenses | 1,222,050 | 796,904 | ||||||
Loan receivable | 4,135,179 | 2,449,956 | ||||||
Total current assets | 40,470,684 | 30,148,438 | ||||||
Non-current assets | ||||||||
Due from related parties | — | 511,353 | ||||||
Property and equipment, net | 10,254,072 | 7,629,117 | ||||||
Intangible assets, net | 101,538 | 128,027 | ||||||
Right-of-use assets – operating leases | 119,515,548 | 49,659,047 | ||||||
Right-of-use assets – finance leases | 348,229 | 478,984 | ||||||
Total assets | 170,690,071 | 88,554,966 | ||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
Liabilities: | ||||||||
Current liabilities | ||||||||
Accounts payable and accrued liabilities | 6,822,919 | 8,470,166 | ||||||
Income taxes payable | 4,562,098 | 2,654,695 | ||||||
Due to related parties | 350,209 | 351,909 | ||||||
Accrued payroll liabilities | 463,162 | 263,356 | ||||||
Operating lease liabilities – current | 23,890,833 | 12,111,309 | ||||||
Finance lease liabilities – current | 170,531 | 198,448 | ||||||
Customer deposits | 236,257 | 424,182 | ||||||
Total current liabilities | 36,496,009 | 24,474,065 | ||||||
Non-current liabilities | ||||||||
Operating lease liabilities – non-current | 99,268,652 | 37,741,370 | ||||||
Finance lease liabilities – non-current | 193,238 | 290,795 | ||||||
Deferred income tax liabilities | 1,470,581 | 735,122 | ||||||
Total liabilities | 137,428,480 | 63,241,352 | ||||||
Commitments and contingencies | ||||||||
Stockholders’ equity | ||||||||
Common stock, US$0.00001 par value, 100,000,000 shares authorized, 40,000,000 issued and outstanding as of March 31, 2024 and June 30, 2023, respectively | 400 | 400 | ||||||
Additional paid-in capital | 9,751,163 | 8,985,007 | ||||||
Retained earnings | 23,510,028 | 16,328,207 | ||||||
Total stockholders’ equity | 33,261,591 | 25,313,614 | ||||||
Total liabilities and stockholders’ equity | 170,690,071 | 88,554,966 |
ARMLOGI HOLDING CORP.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOMEFOR THE THREE AND NINE MONTHS ENDED MARCH 31, 2024 AND 2023 (UNAUDITED)(US$, except share data, or otherwise noted) | ||||||||||||||||
Three MonthsEndedMarch 31,2024 | Three MonthsEndedMarch 31,2023 | Nine MonthsEndedMarch 31,2024 | Nine MonthsEndedMarch 31,2023 | |||||||||||||
US$ | US$ | US$ | US$ | |||||||||||||
Unaudited | Unaudited | Unaudited | Unaudited | |||||||||||||
Revenue | 38,439,935 | 30,133,445 | 121,689,863 | 86,961,574 | ||||||||||||
Costs of sales | 35,115,736 | 23,855,350 | 105,461,383 | 67,959,387 | ||||||||||||
Gross profit | 3,324,199 | 6,278,095 | 16,228,480 | 19,002,187 | ||||||||||||
Operating costs and expenses: | ||||||||||||||||
General and administrative | 3,269,493 | 3,051,137 | 8,097,196 | 6,974,146 | ||||||||||||
Total operating costs and expenses | 3,269,493 | 3,051,137 | 8,097,196 | 6,974,146 | ||||||||||||
Income from operations | 54,706 | 3,226,958 | 8,131,284 | 12,028,041 | ||||||||||||
Other (income) expenses: | ||||||||||||||||
Other income | (914,419 | ) | (293,016 | ) | (1,902,813 | ) | (954,447 | ) | ||||||||
Finance costs | 11,041 | 15,650 | 37,779 | 45,885 | ||||||||||||
Total other (income) expenses | (903,378 | ) | (277,366 | ) | (1,865,034 | ) | (908,562 | ) | ||||||||
Income before provision for income taxes | 958,084 | 3,504,324 | 9,996,318 | 12,936,603 | ||||||||||||
Current income tax expense | 200,612 | 1,335,189 | 2,079,038 | 3,495,908 | ||||||||||||
Deferred income tax expense | 75,252 | (9,972 | ) | 735,459 | 480,002 | |||||||||||
Total income tax expenses | 275,864 | 1,325,217 | 2,814,497 | 3,975,910 | ||||||||||||
Net income | 682,220 | 2,179,107 | 7,181,821 | 8,960,693 | ||||||||||||
Total comprehensive income | 682,220 | 2,179,107 | 7,181,821 | 8,960,693 | ||||||||||||
Basic & diluted net earnings per share | 0.02 | 0.05 | 0.18 | 0.22 | ||||||||||||
Weighted average number of shares of common stock-basic and diluted | 40,000,000 | 40,000,000 | 40,000,000 | 40,000,000 |
ARMLOGI HOLDING CORP.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWSFOR THE NINE MONTHS ENDED MARCH 31, 2024 AND 2023 (UNAUDITED)(US$, except share data, or otherwise noted) | ||||||||
For The Nine Months Ended March 31, 2024 | For The Nine Months Ended March 31, 2023 | |||||||
US$ | US$ | |||||||
Unaudited | Unaudited | |||||||
Cash Flows from Operating Activities: | ||||||||
Net income | 7,181,821 | 8,960,693 | ||||||
Adjustments for items not affecting cash: | ||||||||
Net loss from disposal of fixed assets | 6,895 | — | ||||||
Depreciation of property and equipment and right-of-use financial assets | 1,444,441 | 918,112 | ||||||
Amortization | 26,488 | 22,088 | ||||||
Non-cash operating leases expense | 3,450,304 | 266,280 | ||||||
Current estimated credit loss | (22,827 | ) | — | |||||
Accretion of finance lease liabilities | 37,779 | 45,885 | ||||||
Deferred income taxes | 735,459 | 480,002 | ||||||
Interest income | (87,923 | ) | (5,609 | ) | ||||
Changes in operating assets and liabilities | ||||||||
Accounts receivable and other receivables | (7,685,423 | ) | (2,553,582 | ) | ||||
Other current assets | (376,820 | ) | (1,092,348 | ) | ||||
Prepaid expenses | (425,146 | ) | (318,266 | ) | ||||
Accounts payable & accrued liabilities | (2,212,137 | ) | 571,336 | |||||
Customer deposits | (187,925 | ) | — | |||||
Income tax payable | 1,907,403 | 2,852,182 | ||||||
Accrued payroll liabilities | 199,806 | 326,673 | ||||||
Net cash provided from operating activities | 3,992,195 | 10,473,446 | ||||||
Cash Flows from Investing Activities: | ||||||||
Purchase of property and equipment | (3,080,643 | ) | (1,789,248 | ) | ||||
Purchase of intangible assets | — | (51,464 | ) | |||||
Loan receivable | (1,600,000 | ) | (2,425,000 | ) | ||||
Net cash used in investing activities | (4,680,643 | ) | (4,265,712 | ) | ||||
Cash Flows from Financing Activities: | ||||||||
Net proceeds received from (repaid to) related parties | 1,000 | (2,503,233 | ) | |||||
Proceeds (lend to) from related parties | 511,353 | (512,314 | ) | |||||
Repayments of finance lease liabilities | (163,253 | ) | (153,561 | ) | ||||
Deferred issuance costs for initial public offering | (638,231 | ) | (205,000 | ) | ||||
Capital contributions from stockholders | 466,156 | 350,000 | ||||||
Net cash provided by (used in) financing activities | 177,025 | (3,024,108 | ) | |||||
Net increase in cash, cash equivalents and restricted cash | (511,423 | ) | 3,183,626 | |||||
Cash and cash equivalents, beginning of year | 6,558,099 | 2,248,760 | ||||||
Cash and restricted cash, end of nine months period | 6,046,676 | 5,432,386 | ||||||
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION: | ||||||||
Income taxes paid | (171,635 | ) | (643,726 | ) | ||||
NON-CASH TRANSACTIONS: | ||||||||
Right-of-use assets acquired in exchange for operating lease liabilities | 81,927,507 | 6,900,346 | ||||||
IPO expenses paid by stockholders | 300,000 | 350,000 |
1 Year Amlogi Chart |
1 Month Amlogi Chart |
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