Nisun International Reports Financial Results for the First Half of 2024
Nisun International (Nasdaq: NISN) reported strong financial results for the first half of 2024, with total revenue increasing by 52% to $192.5 million. The company's supply chain trading business saw a 114% revenue increase to $142.1 million, driven primarily by growth in the gold trading sector. However, SME financing services revenue declined by 16% to $48.5 million, and supply chain financing solutions revenue decreased by 30% to $1.9 million due to challenging market conditions.
Net income was $10.3 million, with earnings per share at $2.61. The company's cash position decreased to $47.8 million, primarily due to increased advances to suppliers. Nisun International approved a $15 million share buyback program to enhance shareholder value. The company remains optimistic about future growth, expecting continued momentum in its supply chain trading business and anticipating a more favorable environment for its financing solutions.
Nisun International (Nasdaq: NISN) ha riportato risultati finanziari solidi per il primo semestre del 2024, con un aumento del fatturato totale del 52% a 192,5 milioni di dollari. L'attività di trading della catena di approvvigionamento dell'azienda ha registrato un aumento del 114% nel fatturato, raggiungendo 142,1 milioni di dollari, trainata principalmente dalla crescita nel settore del trading dell'oro. Tuttavia, i ricavi dei servizi di finanziamento per le PMI sono diminuiti del 16% a 48,5 milioni di dollari, e i ricavi delle soluzioni di finanziamento della catena di approvvigionamento sono calati del 30% a 1,9 milioni di dollari a causa delle difficili condizioni di mercato.
Il reddito netto ammonta a 10,3 milioni di dollari, con un utile per azione di 2,61 dollari. La posizione di liquidità dell'azienda è diminuita a 47,8 milioni di dollari, principalmente a causa dell'aumento degli anticipi ai fornitori. Nisun International ha approvato un programma di riacquisto di azioni da 15 milioni di dollari per aumentare il valore per gli azionisti. L'azienda rimane ottimista riguardo alla crescita futura, prevedendo un continuo slancio nel suo business di trading della catena di approvvigionamento e anticipando un ambiente più favorevole per le sue soluzioni di finanziamento.
Nisun International (Nasdaq: NISN) reportó resultados financieros sólidos para la primera mitad de 2024, con un aumento del 52% en los ingresos totales, alcanzando 192.5 millones de dólares. El negocio de comercio en la cadena de suministro de la compañía experimentó un incremento del 114% en los ingresos, hasta 142.1 millones de dólares, impulsado principalmente por el crecimiento en el sector del comercio de oro. Sin embargo, los ingresos por servicios de financiamiento a PYMEs disminuyeron un 16%, alcanzando 48.5 millones de dólares, y los ingresos por soluciones de financiamiento en la cadena de suministro cayeron un 30%, hasta 1.9 millones de dólares, debido a las desafiantes condiciones del mercado.
El ingreso neto fue de 10.3 millones de dólares, con ganancias por acción de 2.61 dólares. La posición de efectivo de la compañía disminuyó a 47.8 millones de dólares, principalmente debido a los mayores anticipos a proveedores. Nisun International aprobó un programa de recompra de acciones de 15 millones de dólares para aumentar el valor para los accionistas. La compañía se mantiene optimista sobre el crecimiento futuro, esperando continuar el impulso en su negocio de comercio en la cadena de suministro y anticipando un entorno más favorable para sus soluciones de financiamiento.
Nisun International (Nasdaq: NISN)는 2024년 상반기 강력한 재무 결과를 보고했으며, 총 수익이 52% 증가하여 1억 9천 2백 5십만 달러에 달했습니다. 회사의 공급망 거래 사업은 금 거래 부문 성장에 힘입어 114%의 수익 증가로 1억 4천 2백 1십만 달러에 달했습니다. 그러나 중소기업 금융 서비스 수익은 16% 감소하여 4천 8백 5십만 달러에 이르렀고, 공급망 금융 솔루션 수익은 어려운 시장 상황으로 인해 30% 감소하여 1백 9십만 달러에 그쳤습니다.
순수익은 1천 3백만 달러였습니다, 주당순이익은 2.61달러였습니다. 회사의 현금 잔고는 공급업체에 대한 선지급 증가로 인해 4천 7백 8십만 달러로 감소했습니다. Nisun International은 1천 5백만 달러 규모의 자사주 매입 프로그램을 승인하여 주주 가치를 증대할 계획입니다. 회사는 공급망 거래 사업에서 계속해서 성장할 것으로 낙관하고 있으며, 금융 솔루션 제공에 더 유리한 환경이 조성될 것으로 예상하고 있습니다.
Nisun International (Nasdaq: NISN) a annoncé de solides résultats financiers pour le premier semestre 2024, avec un chiffre d'affaires total en hausse de 52 %, atteignant 192,5 millions de dollars. L'activité de négoce de la chaîne d'approvisionnement de l'entreprise a connu une augmentation du chiffre d'affaires de 114 %, atteignant 142,1 millions de dollars, principalement grâce à la croissance du secteur du négoce de l'or. Cependant, les revenus des services de financement pour les PME ont baissé de 16 % à 48,5 millions de dollars, et les revenus des solutions de financement de la chaîne d'approvisionnement ont chuté de 30 % à 1,9 million de dollars en raison de conditions de marché difficiles.
Le revenu net était de 10,3 millions de dollars, avec un bénéfice par action de 2,61 dollars. La position de trésorerie de l'entreprise a diminué à 47,8 millions de dollars, principalement en raison de l'augmentation des avances aux fournisseurs. Nisun International a approuvé un programme de rachat d'actions de 15 millions de dollars pour accroître la valeur des actionnaires. L'entreprise reste optimiste quant à sa croissance future, s'attendant à un élan continu dans son activité de négoce de la chaîne d'approvisionnement et anticipant un environnement plus favorable pour ses solutions de financement.
Nisun International (Nasdaq: NISN) hat starke Finanzergebnisse für das erste Halbjahr 2024 berichtet, wobei die Gesamteinnahmen um 52% auf 192,5 Millionen Dollar stiegen. Das Handelsgeschäft der Lieferkette des Unternehmens verzeichnete einen Umsatzanstieg von 114% auf 142,1 Millionen Dollar, der hauptsächlich durch das Wachstum im Goldhandel angekurbelt wurde. Allerdings sanken die Einnahmen aus Finanzierungsdienstleistungen für kleine und mittlere Unternehmen um 16% auf 48,5 Millionen Dollar, und die Einnahmen aus Finanzierungslösungen in der Lieferkette gingen um 30% auf 1,9 Millionen Dollar aufgrund der schwierigen Marktbedingungen zurück.
Der Nettogewinn betrug 10,3 Millionen Dollar, mit einem Gewinn pro Aktie von 2,61 Dollar. Die Liquiditätsposition des Unternehmens sank auf 47,8 Millionen Dollar, hauptsächlich aufgrund erhöhter Vorschüsse an Lieferanten. Nisun International genehmigte ein Aktienrückkaufprogramm in Höhe von 15 Millionen Dollar, um den Wert für die Aktionäre zu steigern. Das Unternehmen bleibt optimistisch hinsichtlich des künftigen Wachstums und erwartet weiterhin Auftrieb in seinem Handelsgeschäft der Lieferkette sowie ein günstigeres Umfeld für seine Finanzierungslösungen.
- Total revenue increased by 52% to $192.5 million
- Supply chain trading business revenue grew by 114% to $142.1 million
- Net income of $10.3 million
- Operating expenses decreased by 31% to $5.7 million
- Approved $15 million share buyback program
- SME financing services revenue declined by 16% to $48.5 million
- Supply chain financing solutions revenue decreased by 30% to $1.9 million
- Cash and cash equivalents decreased from $114.4 million to $47.8 million
- Earnings per share decreased from $2.87 to $2.61
Insights
Nisun International's first half 2024 results demonstrate strong revenue growth, primarily driven by its supply chain trading business. The 52% increase in total revenue to
The company's net income of
The
Nisun International's performance in H1 2024 reflects both opportunities and challenges in the Chinese market. The robust growth in the gold trading sector indicates a strong demand for precious metals, possibly driven by economic uncertainties. This aligns with broader market trends where investors seek safe-haven assets.
The decline in SME financing services revenue by
The initiation of a share buyback program amid undervaluation claims is a strategic move that could boost investor confidence. It's particularly noteworthy given the largest shareholder's recent
Company Reports
First Half 2024 Financial Highlights:
- Total revenue increased by
52% to$192.5 million $126.9 million - Supply chain trading business revenue increased by
114% to$142.1 million $66.2 million - Small and medium-sized enterprises ("SME") financing services revenue declined by
16% to$48.5 million China begin to take effect. - Supply chain financing solutions revenue decreased by
30% to$1.9 million - Net income was
$10.3 million $11.4 million - Earnings per share were
$2.61 $2.87
Operational Highlights:
- Cash Position: As of June 30, 2024, The Company's cash and cash equivalents were
$47.8 million $114.4 million - Cost Control: Operating expenses decreased by
31% to$5.7 million 69% as the Company maintained existing sales channels without expanding into new ones, and general and administrative expenses were reduced by14% due to enhanced cost controls. - Buyback Program: Nisun International has approved a
$15 million
Management Commentary:
Mr. Xin Liu, Chief Executive Officer of Nisun International, commented:
"We are very pleased with our strong financial performance in the first half of 2024, marked by a significant
Looking ahead, we remain committed to enhancing operational efficiency and seeking new growth opportunities. We also believe our stock is significantly undervalued, which is why we are excited to announce a
2024 Outlook:
Nisun International expects the momentum in its supply chain trading business to continue through the second half of 2024 and into 2025. With the Chinese government's stimulus measures beginning to take effect, the Company anticipates a more favorable environment for its SME financing and supply chain financing solutions, positioning Nisun International for sustained growth in the coming periods.
Details of the conference call, including dial-in information, will be announced in the coming days.
About Nisun International Enterprise Development Group Co., Ltd
Nisun International Enterprise Development Group Co., Ltd. (NASDAQ: NISN) is a technology-driven, integrated supply chain solutions provider focused on transforming the corporate finance industry. Leveraging its industry experience, Nisun International is dedicated to providing professional supply chain solutions to Chinese and foreign enterprises and financial institutions. Through its subsidiaries, Nisun International provides users with professional solutions for technology supply chain management, technology asset routing, and digital transformation of tech and finance institutions, enabling the industry to strengthen and grow. At the same time, Nisun International continues to deepen the field of industry segmentation through industrial and financial integration. Focusing on industry-finance linkages, Nisun International aims to serve the upstream and downstream of the industrial supply chain while also assisting with supply-side sub-sector reform. For more information, please visit http://ir.nisun-international.com/
Cautionary Note Regarding Forward-Looking Statements
This press release contains information about Nisun International 's view of its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. Nisun encourages you to review other factors that may affect its future results in Nisun's registration statement and in its other filings with the Securities and Exchange Commission. Nisun assumes no obligation to update or revise its forward-looking statements as a result of new information, future events or otherwise, except as expressly required by applicable law.
Contacts
Nisun International Enterprise Development Group Co., Ltd
Investor Relations
Tel: +86 (21) 2357-0055
Email: ir@cnisun.com
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SOURCE Nisun International Enterprise Development Group Co., Ltd
FAQ
What was Nisun International's (NISN) revenue growth in the first half of 2024?
How much did Nisun International's (NISN) supply chain trading business revenue grow in H1 2024?
What was Nisun International's (NISN) net income for the first half of 2024?
Has Nisun International (NISN) announced any share buyback programs?
How did Nisun International's (NISN) SME financing services perform in H1 2024?
