Chanson International Holding Announces Fiscal Year 2024 Financial Results
Chanson International Holding (CHSN) reported its fiscal year 2024 results, showing mixed performance. Total revenue increased 5.7% to $18.2 million, driven by 12.8% growth in China stores revenue to $16.1 million, while US stores revenue declined 29.1% to $2.1 million.
The company's bakery segment in China showed strong growth of 18.0%, contributing over 80% of total revenue, supported by 15 new store openings. However, gross profit decreased 11.7% to $7.2 million, with gross margin declining to 39.5% from 47.2% in 2023.
Notable improvements include net income increasing to $0.76 million from $0.03 million in 2023, and earnings per share rising to $0.05 from $0.003. Cash position strengthened significantly to $12.1 million from $1.5 million in the previous year.
Chanson International Holding (CHSN) ha riportato i risultati per l'anno fiscale 2024, mostrando una performance mista. I ricavi totali sono aumentati del 5,7% a 18,2 milioni di dollari, grazie a una crescita del 12,8% dei ricavi dei negozi in Cina, che hanno raggiunto 16,1 milioni di dollari, mentre i ricavi dei negozi negli Stati Uniti sono diminuiti del 29,1% a 2,1 milioni di dollari.
Il segmento panetteria dell'azienda in Cina ha mostrato una forte crescita del 18,0%, contribuendo a oltre l'80% dei ricavi totali, supportato da 15 nuove aperture di negozi. Tuttavia, l'utile lordo è diminuito dell'11,7% a 7,2 milioni di dollari, con il margine lordo che è sceso al 39,5% rispetto al 47,2% del 2023.
Tra i miglioramenti notevoli, l'utile netto è aumentato a 0,76 milioni di dollari rispetto a 0,03 milioni di dollari nel 2023, e l'utile per azione è salito a 0,05 dollari rispetto a 0,003 dollari. La posizione di liquidità è migliorata significativamente a 12,1 milioni di dollari rispetto a 1,5 milioni di dollari dell'anno precedente.
Chanson International Holding (CHSN) reportó sus resultados del año fiscal 2024, mostrando un rendimiento mixto. Los ingresos totales aumentaron un 5.7% a 18.2 millones de dólares, impulsados por un crecimiento del 12.8% en los ingresos de las tiendas en China, que alcanzaron 16.1 millones de dólares, mientras que los ingresos de las tiendas en EE.UU. disminuyeron un 29.1% a 2.1 millones de dólares.
El segmento de panadería de la compañía en China mostró un fuerte crecimiento del 18.0%, contribuyendo con más del 80% de los ingresos totales, apoyado por la apertura de 15 nuevas tiendas. Sin embargo, la ganancia bruta disminuyó un 11.7% a 7.2 millones de dólares, con el margen bruto cayendo al 39.5% desde el 47.2% en 2023.
Las mejoras notables incluyen un aumento del ingreso neto a 0.76 millones de dólares desde 0.03 millones de dólares en 2023, y las ganancias por acción subieron a 0.05 dólares desde 0.003 dólares. La posición de efectivo se fortaleció significativamente a 12.1 millones de dólares desde 1.5 millones de dólares del año anterior.
Chanson International Holding (CHSN)은 2024 회계연도 결과를 발표하며 혼합된 성과를 보여주었습니다. 총 수익은 5.7% 증가하여 1820만 달러에 달했으며, 이는 중국 매장 수익이 12.8% 성장하여 1610만 달러에 이른 반면, 미국 매장 수익은 29.1% 감소하여 210만 달러에 그쳤습니다.
회사의 중국 제빵 부문은 18.0%의 강력한 성장을 보여주었으며, 이는 총 수익의 80% 이상을 기여하였고, 15개의 새로운 매장 개설로 지원받았습니다. 그러나 총 이익은 11.7% 감소하여 720만 달러에 이르렀고, 총 마진은 2023년 47.2%에서 39.5%로 하락했습니다.
주목할 만한 개선 사항으로는 순이익이 2023년 3만 달러에서 76만 달러로 증가했으며, 주당 순이익은 0.003달러에서 0.05달러로 상승했습니다. 현금 보유액은 전년도 150만 달러에서 1210만 달러로 크게 강화되었습니다.
Chanson International Holding (CHSN) a annoncé ses résultats pour l'exercice fiscal 2024, montrant une performance mitigée. Le chiffre d'affaires total a augmenté de 5,7 % pour atteindre 18,2 millions de dollars, soutenu par une croissance de 12,8 % des revenus des magasins en Chine, qui ont atteint 16,1 millions de dollars, tandis que les revenus des magasins aux États-Unis ont chuté de 29,1 % à 2,1 millions de dollars.
Le segment boulangerie de l'entreprise en Chine a montré une forte croissance de 18,0 %, représentant plus de 80 % du chiffre d'affaires total, soutenu par l'ouverture de 15 nouveaux magasins. Cependant, le bénéfice brut a diminué de 11,7 % pour s'établir à 7,2 millions de dollars, le taux de marge brute passant de 47,2 % en 2023 à 39,5 %.
Parmi les améliorations notables, le bénéfice net a augmenté à 0,76 millions de dollars contre 0,03 millions de dollars en 2023, et le bénéfice par action a augmenté à 0,05 dollars contre 0,003 dollars. La position de liquidité s'est considérablement renforcée, passant de 1,5 millions de dollars l'année précédente à 12,1 millions de dollars.
Chanson International Holding (CHSN) hat die Ergebnisse für das Geschäftsjahr 2024 veröffentlicht, die eine gemischte Leistung zeigen. Der Gesamtumsatz stieg um 5,7% auf 18,2 Millionen Dollar, angetrieben von einem Wachstum der Umsätze in den chinesischen Filialen um 12,8% auf 16,1 Millionen Dollar, während die Umsätze in den US-Filialen um 29,1% auf 2,1 Millionen Dollar zurückgingen.
Das Bäckerei-Segment des Unternehmens in China zeigte ein starkes Wachstum von 18,0%, was über 80% des Gesamtumsatzes ausmachte, unterstützt durch die Eröffnung von 15 neuen Filialen. Der Bruttogewinn sank jedoch um 11,7% auf 7,2 Millionen Dollar, wobei die Bruttomarge von 47,2% im Jahr 2023 auf 39,5% fiel.
Bemerkenswerte Verbesserungen umfassen einen Anstieg des Nettogewinns auf 0,76 Millionen Dollar von 0,03 Millionen Dollar im Jahr 2023 und einen Anstieg des Gewinns pro Aktie auf 0,05 Dollar von 0,003 Dollar. Die Liquiditätsposition wurde erheblich gestärkt und stieg von 1,5 Millionen Dollar im Vorjahr auf 12,1 Millionen Dollar.
- Net income increased significantly to $0.76M from $0.03M
- Revenue grew 5.7% to $18.2M year-over-year
- China stores revenue increased 12.8% to $16.1M
- Bakery products revenue in China grew 18.0%
- Cash position improved to $12.1M from $1.5M
- Operating expenses decreased to $7.7M from $8.8M
- Gross margin declined to 39.5% from 47.2%
- US stores revenue decreased 29.1% to $2.1M
- Gross profit decreased 11.7% to $7.2M
- Seasonal products revenue declined 25.3%
- Beverage products revenue in US decreased 25%
- Eat-in services revenue dropped 61.9%
Insights
Chanson International's FY2024 results present a mixed financial picture with promising bottom-line improvement despite margin challenges. Revenue grew
The most impressive metric is the dramatic improvement in net income, which surged to
However, significant concerns remain. Gross margin contracted sharply from
The regional performance divergence is striking. While China thrived with bakery product expansion, US operations declined
The balance sheet shows material improvement, with cash increasing to
URUMQI, China, April 4, 2025 /PRNewswire/ -- Chanson International Holding (Nasdaq: CHSN) (the "Company" or "Chanson"), a provider of bakery, seasonal, and beverage products through its chain stores in China and the
Mr. Gang Li, Chairman of the Board of Directors and Chief Executive Officer of the Company, commented, "In 2024, our revenue experienced a moderate growth, with our stores in
Despite the complex macroeconomic environment—marked by uncertainties such as slower economic recovery and shifts in consumption patterns, which impacted the sales of seasonal products and beverages, we have navigated these uncertainties. Our strategic initiatives, including targeted promotions tailored to price-sensitive consumers, contributed to resilient revenue growth and market share expansion. In response to evolving consumer trends, we have diversified our product offerings by introducing freshly brewed coffee, further strengthen our market position.
Looking ahead, we remain confident in our long-term growth and expansion, supported by well-defined strategies and strong execution, which we believe will continue to create greater value for our shareholders and stakeholders."
Fiscal Year 2024 Financial Highlights
- Total revenue was
$18.2 million , an increase of5.7% from$17.3 million in fiscal year 2023. - Gross profit was
$7.2 million , compared to$8.1 million in fiscal year 2023. - Gross margin was
39.5% , compared to47.2% in fiscal year 2023. - Net income was
$0.76 million , increased from$0.03 million in fiscal year 2023. - Basic and diluted earnings per share were
$0.05 , increased from$0.00 3 in fiscal year 2023.
Fiscal Year 2024 Financial Results
Revenue
Total revenue increased by
China Stores
- Revenue from China Stores increased by
12.8% to$16.1 million in fiscal year 2024, from$14.3 million in fiscal year 2023. The increase was mainly due to the increased revenue from bakery products, which was partially offset by the decrease revenue from other products. - Revenue from bakery products increased by
18.0% to$14.8 million in fiscal year 2024, from$12.5 million in fiscal year 2023. The increase was mainly attributed to the increased revenue generated by the newly opened bakery stores, as fifteen bakery stores were opened during the year ended December 31, 2024. Furthermore, China Stores have focused more on increasing their market share and there have been increased promotion activities and price discounts given to the customers, which attracted more customers to make purchases in the fiscal year 2024. - Revenue from other products decreased by
24.3% to$1.3 million in fiscal year 2024, from$1.8 million in fiscal year 2023, due to decreased revenue from seasonal products as well as from beverage products. Revenue from seasonal products decreased by25.3% to$1.0 million in fiscal year 2024, from$1.3 million in fiscal year 2023, due to the consumption downgrade during the fiscal year 2024. Revenue from beverage products decreased by21.7% to$0.4 million $144,000
United States Stores
- Revenue from United States Stores decreased by
29.1% to$2.1 million in fiscal year 2024, from$2.9 million in fiscal year 2023. The decrease was mainly due to decreased revenue from beverage products and eat-in services, which was partially offset by the increased revenue from bakery products. - Revenue from bakery products increased by
13.8% to$0.5 million in fiscal year 2024, from$0.4 million in fiscal year 2023. The increase was due to the increased revenue from bakery products of approximately$183,000 - Revenue from beverage products decreased by
25.0% to$1.3 million in fiscal year 2024, from$1.7 million in fiscal year 2023, primarily due to the closure of Chanson Greenwich. The decrease was also attributable to increased competition from competitors operating in the same area. After the cocktail bars of the United States Stores launched several new types of cocktail products with new flavors and styles, such products became popular among customers and the cocktail bars were often fully booked by reservation. However, during the year ended December 31, 2024, the Company's competitors operating in the same area also launched many types of attractive cocktail products, offering customers more choices and resulting in revenue from beverage products being adversely affected. - Revenue from eat-in services decreased by
61.9% to$0.3 million in fiscal year 2024, from$0.8 million in fiscal year 2023. The decrease was mainly due to the decreased revenue from Chanson Greenwich of approximately$436,000 $158,000 $104,000
Gross Profit and Gross Margin
Gross profit decreased by
Operating Expenses
Operating expenses were
- Selling expenses decreased by
2.6% , to$4.8 million in fiscal year 2024, from$4.9 million in fiscal year 2023. The decrease was mainly due to the decreased selling expenses of approximately$245,000 $293,000 - General and administrative expenses decreased by
23.4% , to$3.0 million in fiscal year 2024 from$3.9 million in fiscal year 2023. The decrease was primarily due to the decreased general and administrative expenses of approximately$659,000
Net Income
Net income in fiscal year 2024 was
Basic and Diluted Earnings per Share
Basic and diluted earnings per share in fiscal year 2024 was
Balance Sheet
As of December 31, 2024, the Company had cash and cash equivalents of
Cash Flow
Net cash provided by operating activities was
Net cash provided by investing activities was
Net cash provided by financing activities was
About Chanson International Holding
Founded in 2009, Chanson International Holding is a provider of bakery, seasonal, and beverage products through its chain stores in China and the
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC.
For investor and media inquiries, please contact:
Chanson International Holding
Investor Relations Department
Email: IR@chansoninternational.com
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
CHANSON INTERNATIONAL HOLDING AND SUBSIDIARIES | ||||||
CONSOLIDATED BALANCE SHEETS | ||||||
December 31, | December 31, | |||||
2024 | 2023 | |||||
ASSETS | ||||||
CURRENT ASSETS: | ||||||
Cash and cash equivalents | $ | 12,102,763 | $ | 1,481,302 | ||
Accounts receivable | 991,467 | 1,995,067 | ||||
Inventories | 738,773 | 723,905 | ||||
Long term loan to a third-party, current | 2,000,000 | - | ||||
Prepaid expenses and other current assets | 2,595,417 | 5,134,173 | ||||
18,428,420 | 9,334,447 | |||||
NON-CURRENT ASSETS: | ||||||
Operating lease right-of-use assets | 11,021,615 | 13,059,561 | ||||
Property and equipment, net | 4,444,473 | 5,462,063 | ||||
Intangible assets, net | 262,500 | 150,000 | ||||
Long term security deposits | 944,170 | 894,715 | ||||
Prepayment for the software, equipment and | - | 790,000 | ||||
Long term debt investment | 6,359,014 | 6,534,575 | ||||
Long term loan to a third-party | - | 2,066,822 | ||||
Long term prepaid expenses | 315,642 | 142,113 | ||||
23,347,414 | 29,099,849 | |||||
TOTAL ASSETS | $ | 41,775,834 | $ | 38,434,296 | ||
LIABILITIES | ||||||
CURRENT LIABILITIES: | ||||||
Short-term bank loans | $ | 1,507,159 | $ | 2,683,692 | ||
Accounts payable | 2,127,740 | 1,919,189 | ||||
Due to a related party | 772,489 | 48,042 | ||||
Taxes payable | 48,712 | 96,176 | ||||
Deferred revenue | 6,697,964 | 7,085,696 | ||||
Operating lease liabilities, current | 2,325,390 | 2,198,192 | ||||
Other current liabilities | 662,963 | 697,702 | ||||
14,142,417 | 14,728,689 | |||||
NON-CURRENT LIABILITIES | ||||||
Operating lease liabilities, non-current | 9,207,971 | 11,691,251 | ||||
9,207,971 | 11,691,251 | |||||
TOTAL LIABILITIES | 23,350,388 | 26,419,940 | ||||
COMMITMENTS AND CONTINGENCIES | ||||||
SHAREHOLDERS' EQUITY | ||||||
Ordinary shares, | ||||||
Class A ordinary share, | 21,629 | 6,485 | ||||
Class B ordinary share, | 5,670 | 5,940 | ||||
Additional paid-in capital | 17,724,592 | 11,800,472 | ||||
Statutory reserve | 661,924 | 447,231 | ||||
Retained earnings (accumulated deficit) | 391,338 | (150,254) | ||||
Accumulated other comprehensive loss | (379,707) | (95,518) | ||||
TOTAL SHAREHOLDERS' EQUITY | 18,425,446 | 12,014,356 | ||||
TOTAL LIABILITIES AND | $ | 41,775,834 | $ | 38,434,296 | ||
* Retrospectively restated for effect of the authorized shares increased on March 12, 2025. | ||||||
CHANSON INTERNATIONAL HOLDING AND SUBSIDIARIES | |||||||
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) | |||||||
For the Years Ended December 31, | |||||||
2024 | 2023 | 2022 | |||||
REVENUE | $ | 18,227,537 | 17,252,662 | 13,272,075 | |||
COST OF REVENUE | 11,033,219 | 9,105,337 | 7,169,404 | ||||
GROSS PROFIT | 7,194,318 | 8,147,325 | 6,102,671 | ||||
OPERATING EXPENSES | |||||||
Selling expenses | 4,757,279 | 4,882,958 | 3,697,909 | ||||
General and administrative expenses | 2,966,659 | 3,874,868 | 3,842,787 | ||||
Total operating expenses | 7,723,938 | 8,757,826 | 7,540,696 | ||||
LOSS FROM OPERATIONS | (529,620) | (610,501) | (1,438,025) | ||||
OTHER INCOME (EXPENSE) | |||||||
Interest (expense) income, net | -50,928 | 35,505 | (35,457) | ||||
Other income, net | 687,492 | 193,425 | 194,824 | ||||
Interest income from long term debt investment | 723,945 | 534,575 | - | ||||
Total other income, net | 1,360,509 | 763,505 | 159,367 | ||||
PROFIT (LOSS) BEFORE INCOME TAX | 830,889 | 153,004 | (1,278,658) | ||||
INCOME TAX EXPENSE | (74,604) | (119,416) | (9,547) | ||||
NET INCOME (LOSS) | 756,285 | 33,588 | (1,288,205) | ||||
Foreign currency translation loss | (284,189) | (130,778) | (369,705) | ||||
TOTAL COMPREHENSIVE INCOME | $ | 472,096 | (97,190) | (1,657,910) | |||
Earnings (loss) per ordinary share - basic | $ | 0.05 | 0.003 | (0.14) | |||
Weighted average shares - basic and diluted | 16,423,670 | 11,537,373 | 9,000,000 | ||||
CHANSON INTERNATIONAL HOLDING AND SUBSIDIARIES | ||||||||
CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||
For the Years Ended December 31, | ||||||||
2024 | 2023 | 2022 | ||||||
Cash flows from operating activities: | ||||||||
Net income (loss) | $ | 756,285 | $ | 33,588 | $ | (1,288,205) | ||
Adjustments to reconcile net income (loss) to | ||||||||
Amortization of operating lease right-of-use | 2,639,094 | 2,628,985 | 2,533,074 | |||||
Depreciation and amortization | 823,869 | 831,820 | 701,461 | |||||
(Gain) loss on disposal of property and | (152,517) | 4,982 | - | |||||
Impairment loss on property and equipment | - | 272,350 | - | |||||
Accrued interest income from long term debt | (723,945) | (534,575) | - | |||||
Interest income from loan to a third-party | (90,986) | (66,822) | - | |||||
Changes in operating assets and liabilities: | ||||||||
Accounts receivable | 959,859 | (766,760) | (215,847) | |||||
Inventories | (32,001) | (45,821) | (206,264) | |||||
Prepaid expenses and other current assets | 2,552,891 | (3,573,002) | (430,717) | |||||
Long term security deposits | (58,209) | 57,185 | 84,374 | |||||
Long term prepaid expenses | (180,281) | (34,010) | (26,504) | |||||
Accounts payable | 265,315 | 530,195 | 247,015 | |||||
Taxes payable | (46,790) | (31,943) | 103,212 | |||||
Deferred revenue | (179,643) | 307,169 | 1,411,004 | |||||
Other current liabilities | (25,902) | (292,138) | (433,848) | |||||
Operating lease liabilities | (2,969,001) | (2,275,056) | (1,927,407) | |||||
Net cash provided by (used in) operating | 3,538,038 | (2,953,853) | 551,348 | |||||
Cash flows from investing activities: | ||||||||
Purchase of property and equipment | (583,313) | (773,964) | (860,034) | |||||
Purchase of intangible assets | - | (150,000) | - | |||||
Proceeds from disposal of property and | 35,562 | 444 | - | |||||
Payment made for long term debt investment | - | (6,000,000) | - | |||||
Interest income received from long term debt | 899,507 | - | - | |||||
Advance of loans to third parties | - | (3,900,000) | - | |||||
Repayment from loans to third parties | 907,704 | 1,150,104 | - | |||||
Prepayment for the software, equipment and | - | (1,190,000) | - | |||||
Refund of prepayment for the product | 650,000 | 400,000 | - | |||||
Net cash provided by (used in) investing | 1,909,460 | (10,463,416) | (860,034) | |||||
Cash flows from financing activities: | ||||||||
Gross proceeds from initial public offerings | - | 13,560,000 | - | |||||
Direct costs disbursed from initial public | - | (1,529,631) | - | |||||
Proceeds from sales of ordinary shares, net of | 5,938,994 | - | - | |||||
Proceeds from short-term bank loans | 2,225,715 | 2,685,588 | 445,831 | |||||
Repayments of short-term bank loans | (3,338,573) | (424,040) | (1,474,129) | |||||
Advances received from (payments made to) a | 524,610 | (1,892,423) | 1,076,717 | |||||
Payments made for deferred offering costs | - | (340,469) | (38,490) | |||||
Net cash provided by financing activities | 5,350,746 | 12,059,025 | 9,929 | |||||
Effect of exchange rate fluctuation on cash and | (176,783) | (75,924) | (682,585) | |||||
Net increase (decrease) in cash and cash | 10,621,461 | (1,434,168) | (981,342) | |||||
Cash and cash equivalents, beginning of year | 1,481,302 | 2,915,470 | 3,896,812 | |||||
Cash and cash equivalents, end of year | $ | 12,102,763 | $ | 1,481,302 | $ | 2,915,470 | ||
Supplemental cash flow information | ||||||||
Cash paid for income taxes | $ | 45,128 | $ | 92,409 | $ | 5,282 | ||
Cash paid for interest | $ | 141,106 | $ | 32,444 | $ | 37,277 | ||
Non-cash operating, investing and financing | ||||||||
Payable for purchase of property and equipment | $ | - | $ | - | $ | 463,556 | ||
Reduction of right-of-use assets and operating | $ | 2,519,354 | $ | - | $ | - | ||
Right of use assets obtained in exchange for | $ | 2,719,792 | $ | 1,676,362 | $ | 5,160,825 | ||
Deferred IPO cost offset with additional paid-in | $ | - | $ | 1,095,872 | $ | - | ||
Intangible assets acquired by prepayment | $ | 140,000 | $ | - | $ | - | ||
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SOURCE Chanson International Holding
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