Intelligent Hotel Group Ltd, formerly known as YCQH Agricultural Technology Co. Ltd, reported a net loss of $6.9 million for the first quarter of 2025, a significant decline from a net income of $107 million during the same period in 2024. The company's revenue for the quarter was not disclosed, but it previously reported $242,721 in revenue for the first quarter of 2024. The gross profit for the latest quarter was $176,350, with operating expenses totaling $6.9 million, primarily attributed to general and administrative costs. The company’s accumulated deficit increased to $446.2 million as of March 31, 2025, compared to $439.3 million at the end of 2024.
The financial performance reflects a substantial shift from the previous fiscal period, where the company had reported a profit. The decline in profitability is attributed to the cessation of operations in its bio-carbon-based fertilizer and online retailing businesses, as well as the beauty products trading segment. The company is currently evaluating potential acquisition targets and strategic business opportunities to realign its operations with long-term growth objectives.
In terms of operational developments, the company has undergone significant organizational changes, including a name change to Intelligent Hotel Group Ltd, effective May 6, 2025. This change was part of a broader strategic shift, as the company has ceased all previous business operations and is focusing on identifying new directions. The company’s employee headcount remains stable at 101.4 million shares of common stock issued and outstanding, with no changes reported in the number of shares.
The company’s cash and cash equivalents decreased to $3,073 as of March 31, 2025, down from $29.8 million at the end of 2024. This decline in liquidity is indicative of the operational challenges faced during the transition period. The total liabilities also decreased slightly to $395.5 million from $418.1 million, primarily due to a reduction in other payables and accrued liabilities. The company’s strategic focus on streamlining operations and divesting from non-core business segments is expected to impact its financial health moving forward.
Looking ahead, Intelligent Hotel Group Ltd aims to stabilize its financial position and explore new business opportunities that align with its revised strategic vision. The management has indicated that the results of the interim periods may not be indicative of future performance, emphasizing the need for careful evaluation of potential acquisitions and market conditions. The company remains committed to enhancing shareholder value through strategic realignment and operational efficiency.
About YCQH Agricultural Technology Co. Ltd
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