China Foods Holdings Ltd. reported a significant increase in revenue for the fiscal year ending December 31, 2024, generating $233,339, a 47% rise from $158,475 in the previous year. Despite this growth, the company faced a net loss of $455,571, compared to a loss of $403,700 in 2023. The increase in revenue was attributed to improved market conditions and heightened demand for healthcare products, particularly in the Chinese market, where the company generated $214,111 in revenue, up from $142,507 in 2023.
The company's operational performance was marked by a gross profit of $53,873, down from $64,144 the previous year, primarily due to rising costs associated with healthcare product sales. Total operating expenses increased to $509,510 from $468,781, driven by higher general and administrative costs. The cost of revenue as a percentage of net revenue rose to approximately 76.91% in 2024, compared to 59.52% in 2023, reflecting the challenges in managing operational costs amid growing sales.
Strategically, China Foods Holdings has focused on expanding its product offerings and enhancing its market presence. The company operates through two main segments: healthcare and wine, with the healthcare segment contributing $125,548 in revenue and the wine segment generating $107,791. The company has also been actively pursuing partnerships with third-party e-commerce platforms to boost product visibility and sales, leveraging social media for customer engagement and consultation services.
As of December 31, 2024, the company reported total assets of $435,005, with current liabilities exceeding current assets by $887,126, indicating liquidity challenges. The company’s cash and cash equivalents decreased to $39,192 from $174,877 in the previous year. Management has indicated that the company will continue to rely on financial support from shareholders and potential external financing to meet its operational needs. Looking ahead, China Foods Holdings aims to improve profitability and expand its market share, particularly in the burgeoning health and wellness sector in China, which is projected to grow significantly in the coming years.
About China Foods Holdings Ltd.
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