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Chanson International Holding (Nasdaq: CHSN) is a prominent provider of bakery, seasonal, and beverage products operating through its chain stores in China and the United States. Founded in 2009 and headquartered in Urumqi, China, Chanson has established itself as a leader in the bakery industry by focusing on health, nutrition, and convenience. The company offers a wide selection of ready-to-eat food items, made with advanced facilities and extensive industry research, ensuring high-quality and nutritious products.
Chanson operates 39 stores under the 'George●Chanson' brand in Xinjiang, China, and four stores in New York City. These stores not only sell packaged bakery goods but also provide made-in-store pastries and eat-in services, allowing customers to enjoy freshly prepared bakery products and an extensive range of beverages in a comfortable store environment.
With the loosening of COVID-19 policies in China, the company's business operations have shown significant recovery, highlighted by a 3.1% increase in total revenue and a 7.0% rise in gross profit within the Chinese market for the first half of fiscal year 2023. The net income also saw a substantial increase of 29.0%, reflecting the resilience and effectiveness of Chanson's strategic initiatives.
Chanson's unaudited financial results for the six months ended June 30, 2023, indicate total revenue of $8.8 million, up from $8.5 million in the same period last year. The company's gross profit increased to $4.3 million, with a gross margin of 49.2%. Operating expenses were $4.2 million, and net income stood at $0.3 million, moving up from $0.2 million in the previous year.
For the fiscal year ending December 31, 2023, Chanson reported a remarkable 30.0% increase in revenue to $17.3 million, driven by higher revenue from its stores in China. The gross profit rose by 33.5% to $8.1 million, maintaining a stable gross margin of 47.2%. Despite increased operating expenses, the company managed to turn its net income to $0.03 million, a significant improvement from a net loss of $1.3 million in the previous year.
Looking forward, Chanson aims to capitalize on this momentum by enforcing cost control, investing in product innovation, and executing expansion plans. The company is committed to enhancing its product portfolio, increasing brand awareness, and expanding its customer base to drive sustainable growth and boost shareholder value.
For more detailed financial and operational information, please visit the company's website: http://ir.chanson-international.net/.
Chanson International Holding (CHSN) announces a collaboration with Xinjiang Hengtai Investment to expand its Soul ● Song coffee brand through franchising in Yili, Xinjiang, China. The company opened its first franchised café at the Nalati National Tourist Resort in July 2024, achieving record-breaking daily sales of RMB 30,000 on both August 8 and August 15. The café features a unique 'blend bean concept' offering customized flavors. Chanson plans to open five additional Soul ● Song cafés under the franchise model by 2025, marking its first venture into franchising operations.
Chanson International Holding (Nasdaq: CHSN) announces plans to expand its total store count to 60 locations across China and the United States by December 2024. The company currently operates 49 stores in China, with 8 additional stores under preparation, and 3 stores in the United States. This expansion represents significant growth from 37 stores at their IPO in April 2023, exceeding their previous goal of 3-5 new stores annually. The new locations will offer packaged bakery products, fresh pastries, and beverages, focusing on healthy, ready-to-eat options in a café setting.
Chanson International Holding (Nasdaq: CHSN) reported its financial results for the first half of fiscal year 2024. Despite facing challenges, the company maintained a gross margin above 40% through cost control measures and improved efficiency. Key financial highlights include:
- Total revenue: $7.5 million, down 14.4% year-over-year
- Gross profit: $3.1 million, down 27.8% year-over-year
- Net income: $0.02 million, compared to $0.3 million last year
- Basic and diluted EPS: $0.002, down from $0.027 last year
The company experienced revenue declines in both China and U.S. stores due to economic pressures and increased competition. However, Chanson remains focused on expansion initiatives and aims to drive revenue through new customer acquisition and repeat business.
Chanson International Holding (Nasdaq: CHSN), a provider of bakery, seasonal, and beverage products through chain stores in China and the US, has closed a public offering raising $7.274 million. The offering included 8,980,251 Class A ordinary shares and an equal number of common warrants at a combined price of $0.81 per share and warrant. The warrants have an exercise price of $0.972 per share. Joseph Stone Capital, acted as the exclusive placement agent. Chanson plans to use the net proceeds for opening new stores in China and the US. The offering was made through a registration statement on Form F-1 declared effective by the SEC on September 12, 2024.
Chanson International Holding (Nasdaq: CHSN), a bakery and beverage chain store operator in China and the US, has priced a public offering of 8,980,251 Class A ordinary shares and an equal number of common warrants. The combined offering price is $0.81 per share and accompanying warrant, with the warrants having an exercise price of $0.972 per share. The company expects to raise gross proceeds of $7.274 million before expenses and commissions. The offering is set to close around September 17, 2024. Chanson plans to use the net proceeds for opening new stores in China and the US. Joseph Stone Capital, is the exclusive placement agent for this best-efforts offering.
Chanson International Holding (Nasdaq: CHSN) announced its fiscal year 2023 financial results, reporting a 30.0% increase in total revenue to $17.3 million, a 33.5% rise in gross profit to $8.1 million, and a net income of $0.03 million. The company plans to focus on product portfolio development, brand awareness, and customer base expansion in 2024. Despite revenue growth in China Stores, revenue declined in United States Stores due to increased competition. Basic and diluted earnings per share improved to $0.003 from a loss of $0.14 in fiscal year 2022.
Chanson International Holding (Nasdaq: CHSN) announced the closing of its initial public offering of 3,390,000 Class A ordinary shares at $4.00 each, generating gross proceeds of $13,560,000. The shares began trading on March 30, 2023. The company has also granted underwriters a 45-day option to purchase an additional 508,500 shares. Proceeds from the offering are earmarked for opening new stores in the United States. EF Hutton acted as the sole book-running manager for this Offering, which was registered with the SEC and became effective on March 29, 2023.
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