{"id":13547,"date":"2022-11-14T22:00:00","date_gmt":"2022-11-14T22:00:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3935560_CN35560_0"},"modified":"2022-11-14T22:00:00","modified_gmt":"2022-11-14T22:00:00","slug":"entrepreneur-universe-bright-group-announces-2022-q3-financial-results","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=13547","title":{"rendered":"ENTREPRENEUR UNIVERSE BRIGHT GROUP Announces 2022 Q3 Financial Results"},"content":{"rendered":"

XI’AN, China<\/span>, Nov. 15, 2022 \/PRNewswire\/ — ENTREPRENEUR UNIVERSE BRIGHT GROUP (“EUBG” or the “Company”) (OTCBB: EUBG), a digital marketing consulting company, today announced its unaudited financial results for the third quarter ended September 30, 2022<\/span>.<\/span><\/p>\n

Mr. Guolin Tao<\/span>, CEO of Entrepreneur Universe Bright Group commented, “During the third quarter, our business and operations continued to be materially and negatively impacted by the COVID-19 situation in China. The decrease of our business was mainly due to the drop of our consultancy services income, generated from clients who engaged in online courses business. These end customers became more patient and cautious in choosing online courses. We are continuing to seek out different business opportunities to stabilize our income streams.”<\/p>\n

“As of September 30, 2022<\/span>, the COVID-19 pandemic situation in China<\/span> continues to be dynamic, and near-term challenges across the economy remain. Substantially all of our revenues and operations are concentrated in China<\/span> and demand for our consulting services by small and medium-sized enterprises were adversely affected due to widespread economic disruptions during the COVID-19 outbreak. Specifically, as a result of government mandated closures of non-essential business in China<\/span>, many of our customers’ business were suspended while others permanently closed their businesses,” Mr. Tao added.<\/p>\n

Third Quarter 2022 Unaudited Financial Results<\/b><\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n
<\/td>\n<\/td>\n\n

Three months ended
September 30,<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n\n

2022<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

2021<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Revenue<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

801,784<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

1,622,471<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Cost of revenue<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(140,009)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(870,967)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Gross profit<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

661,775<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

751,504<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Selling expenses<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(10,043)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(54,921)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

General and administrative expenses<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(423,931)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(326,090)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Total other (expenses) income, net<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(124,016)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

38,847<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Income before income tax<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

103,785<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

409,340<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Income tax expense<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(135,784)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(201,789)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Net (loss) income<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

(31,999)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

207,551<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n