Longduoduo Company Limited Reports 35.5% Revenue Decline but Maintains Net Income in Latest Financial Results

Longduoduo Company Limited reported its financial results for the six months ending December 31, 2024, revealing a total revenue of $2.54 million, a decrease of 35.5% compared to $3.93 million for the same period in 2023. The company’s service revenue fell significantly from $273,846 to $88,916, while commission revenue also declined from $3.65 million to $2.46 million. Despite the drop in revenue, Longduoduo achieved a net income of $442,095, slightly down from $477,572 in the prior year, indicating a more efficient cost structure as gross profit was reported at $2.48 million, down from $3.82 million.

The company’s balance sheet showed total assets increasing to $2.20 million as of December 31, 2024, up from $2.06 million at the end of June 2024. Current assets rose to $1.83 million, primarily due to an increase in cash and cash equivalents, which reached $1.62 million compared to $1.40 million in the previous period. Longduoduo's total liabilities decreased significantly from $1.28 million to $990,851, largely due to a reduction in deferred revenue from $713,360 to $371,302. This shift reflects a strategic adjustment in the company’s operations and revenue recognition practices.

In terms of operational developments, Longduoduo has been focusing on enhancing its healthcare service offerings. The company began engaging in agent sales of preventive healthcare solutions in June 2023, which has contributed to its revenue streams. The company also executed a 1-for-10 reverse stock split in September 2023, aimed at improving its stock price and market perception. As of December 31, 2024, Longduoduo maintained a consistent employee headcount of 30,005, reflecting stability in its workforce.

Longduoduo's comprehensive income for the six months ended December 31, 2024, was reported at $427,027, down from $482,929 in the previous year. The company attributed the changes in financial performance to market conditions and strategic decisions made in response to evolving healthcare demands. The filing indicated that the company is optimistic about future growth, citing the potential for increased market share in the preventive healthcare sector as it continues to refine its service offerings and expand its geographic reach.

Looking ahead, Longduoduo remains focused on leveraging its existing infrastructure and partnerships to enhance service delivery and customer engagement. The company’s management expressed confidence in its ability to navigate market challenges and capitalize on emerging opportunities in the healthcare sector, although they acknowledged the inherent uncertainties in achieving sustained profitability. The outlook suggests a commitment to strategic growth initiatives aimed at improving operational efficiency and expanding its customer base.