Reported Earnings • Feb 16
Second quarter 2026 earnings released: US$0.12 loss per share (vs US$0.094 loss in 2Q 2025) Second quarter 2026 results: US$0.12 loss per share (further deteriorated from US$0.094 loss in 2Q 2025). Net loss: US$665.9k (loss widened 103% from 2Q 2025). Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has fallen by 62% per year, which means it is significantly lagging earnings. New Risk • Feb 16
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$13m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$13m free cash flow). Shareholders have been substantially diluted in the past year (74% increase in shares outstanding). Market cap is less than US$10m (US$2.63m market cap). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Revenue is less than US$5m (US$1.3m revenue). Board Change • Dec 29
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. No experienced directors. No highly experienced directors. Independent Director Zhongliang Xie is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Nov 25
Nasdaq Grants Singularity Future Technology 180 Days to Regain Compliance with Listing Rules On November 19, 2025, Singularity Future Technology Ltd. (the Company") received a staff determination notice (the Notice") from the Listing Qualifications Department of The Nasdaq Stock Market LLC (Nasdaq"), informing the Company that its common stock, no par value (the Common Stock"), fails to comply with the $1 minimum bid price required for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) for the 30 consecutive business days prior to the date of the Notice. Nasdaq's notice has no immediate effect on the listing of the Common Stock on The Nasdaq Capital Market. Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial compliance period of 180 calendar days, or until May 18, 2026 (the Compliance Date"), to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Common Stock must meet or exceed $1.00 per share for a minimum of ten consecutive business days prior to the Compliance Date. If the Company is unable to regain compliance by the Compliance Date, the Company may be eligible for an additional 180 calendar day compliance period to demonstrate compliance with the bid price requirement. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and will need to provide written notice to Nasdaq of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. If the Company does not qualify for the second compliance period or fails to regain compliance during the second 180-day period, Nasdaq will notify the Company of its determination to delist the Common Stock, at which point the Company would have an opportunity to appeal the delisting determination to a Hearings Panel. The Company intends to monitor the closing bid price of the Common Stock and may, if appropriate, consider implementing available options to regain compliance with the minimum bid price requirement under the Nasdaq Listing Rules. Board Change • Oct 20
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Independent Director Zhongliang Xie is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Sep 30
Singularity Future Technology Ltd. announced delayed annual 10-K filing On 09/29/2025, Singularity Future Technology Ltd. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Announcement • Jun 12
Singularity Future Technology Ltd., Annual General Meeting, Jul 01, 2025 Singularity Future Technology Ltd., Annual General Meeting, Jul 01, 2025, at 23:00 China Standard Time. Location: room1406, 14/f, star hse, 3 salisbury rd, tsimsha tsui, kowloon, hong kong, Hong Kong Reported Earnings • May 17
Third quarter 2025 earnings released: US$0.46 loss per share (vs US$0.32 loss in 3Q 2024) Third quarter 2025 results: US$0.46 loss per share (further deteriorated from US$0.32 loss in 3Q 2024). Revenue: US$363.1k (down 19% from 3Q 2024). Net loss: US$1.67m (loss widened 76% from 3Q 2024). Board Change • May 12
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Independent Director Zhongliang Xie is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Mar 01
Singularity Future Technology Ltd. Announces CFO Changes On February 20, 2025, Mr. Ying Cao resigned from his position as the chief financial officer of Singularity Future Technology Ltd. Mr. Ying Cao’s resignation was for personal reasons and was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. On February 21, 2025, the board of directors of the Company (the “Board”) appointed Mr. Chee Jiong Ng as the CFO of the Company to fill the vacancy resulting from Mr. Ying Cao’s resignation. Mr. Ng worked as the CFO of Meta Data Limited from November 2021 to July 2024. From March 2021 to October 2021, Mr. Ng was a financial advisor for two Nasdaq listed companies, responsible for annual and semi-annual reporting obligations and financing activities. From December 2017 to February 2021, Mr. Ng was the CFO of Dunxin Financial Holdings Limited, now known as Eason Technology Limited. Mr. Ng received a bachelor’s degree in economics from the University of Sydney, Australia in 1993, and a master’s degree in commerce from the University of New South Wales, Australia in 1995. Mr. Ng is also a certified public accountant of Australian Society of Certified Public Accountants since 1999. Announcement • Feb 13
Singularity Future Technology Ltd. announced delayed 10-Q filing On 02/12/2025, Singularity Future Technology Ltd. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Jan 28
Singularity Future Technology Ltd. has completed a Follow-on Equity Offering in the amount of $1.141 million. Singularity Future Technology Ltd. has completed a Follow-on Equity Offering in the amount of $1.141 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 700,000
Price\Range: $1.63
Discount Per Security: $0.1141
Transaction Features: Registered Direct Offering New Risk • Jan 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 21% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (21% average weekly change). Earnings have declined by 4.8% per year over the past 5 years. Shareholders have been substantially diluted in the past year (100% increase in shares outstanding). Market cap is less than US$10m (US$9.25m market cap). Minor Risk Revenue is less than US$5m (US$2.7m revenue). Announcement • Jan 25
Singularity Future Technology Ltd. has filed a Follow-on Equity Offering in the amount of $1.141 million. Singularity Future Technology Ltd. has filed a Follow-on Equity Offering in the amount of $1.141 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 700,000
Price\Range: $1.63
Transaction Features: Registered Direct Offering Board Change • Dec 30
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Independent Director Zhongliang Xie is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Oct 01
Singularity Future Technology Ltd. announced delayed annual 10-K filing On 09/30/2024, Singularity Future Technology Ltd. announced that they will be unable to file their next 10-K by the deadline required by the SEC. New Risk • Aug 20
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.73m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 20% per year over the past 5 years. Shareholders have been substantially diluted in the past year (86% increase in shares outstanding). Market cap is less than US$10m (US$9.73m market cap). Minor Risk Revenue is less than US$5m (US$3.4m revenue). New Risk • Aug 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 15% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 20% per year over the past 5 years. Shareholders have been substantially diluted in the past year (86% increase in shares outstanding). Minor Risks Revenue is less than US$5m (US$3.4m revenue). Market cap is less than US$100m (US$13.6m market cap). Reported Earnings • May 17
Third quarter 2024 earnings released: US$0.32 loss per share (vs US$5.61 loss in 3Q 2023) Third quarter 2024 results: US$0.32 loss per share (improved from US$5.61 loss in 3Q 2023). Revenue: US$446.6k (down 41% from 3Q 2023). Net loss: US$949.8k (loss narrowed 92% from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 50% per year, which means it is significantly lagging earnings. New Risk • Mar 13
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$20m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 27% per year over the past 5 years. Shareholders have been substantially diluted in the past year (57% increase in shares outstanding). Minor Risks Revenue is less than US$5m (US$3.7m revenue). Market cap is less than US$100m (US$10.7m market cap). New Risk • Feb 15
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$20m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$20m free cash flow). Earnings have declined by 27% per year over the past 5 years. Shareholders have been substantially diluted in the past year (57% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Revenue is less than US$5m (US$3.7m revenue). Market cap is less than US$100m (US$10.4m market cap). Reported Earnings • Feb 15
Second quarter 2024 earnings released: US$0.063 loss per share (vs US$1.76 loss in 2Q 2023) Second quarter 2024 results: US$0.063 loss per share (improved from US$1.76 loss in 2Q 2023). Revenue: US$961.2k (down 36% from 2Q 2023). Net loss: US$1.11m (loss narrowed 70% from 2Q 2023). Announcement • Jan 05
Singularity Future Technology Receives a Staff Determination Letter from the Nasdaq Stock Market On January 3, 2024, Singularity Future Technology Ltd. received a Staff determination letter from The Nasdaq Stock Market notifying the Company of the Staff's determination to delist the Company's securities from Nasdaq because of the Company's failure to regain compliance with the $1 per share bid price requirement required for continued listing on the Nasdaq as set in Listing Rule 5550(a)(2). Pursuant to the Letter, unless the Company requests an appeal of the Letter, trading of the Company's common stock will be suspended at the opening of business on January 12, 2024, and a Form 25-NSE will be filed with the Securities and Exchange Commission to remove the Company's securities from listing and registration on Nasdaq. The Company has the option to appeal the delisting determination and intends to do so. The Company intends to appeal the Staff's determination to a Hearings Panel. Such a request will allow the Company's common stock to continue to be listed for trading pending the Panel's decision. Reported Earnings • Nov 16
First quarter 2024 earnings released: US$0.13 loss per share (vs US$0.14 loss in 1Q 2023) First quarter 2024 results: US$0.13 loss per share (improved from US$0.14 loss in 1Q 2023). Revenue: US$895.9k (down 27% from 1Q 2023). Net loss: US$2.29m (loss narrowed 26% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 43% per year, which means it is significantly lagging earnings. Board Change • Nov 01
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. VP & Director Haotian Song is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Oct 01
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. 1 highly experienced director. Founder, Chairman, VP and Head of Research & Development Lei Cao is the most experienced director on the board, commencing their role in 2001. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 30
Singularity Future Technology Ltd., Annual General Meeting, Oct 18, 2023 Singularity Future Technology Ltd., Annual General Meeting, Oct 18, 2023, at 10:00 China Standard Time. Location: Shenzhen Marriott Hotel Nanshan No. 88, Haide Yi Road, Nanshan District, Shenzhen China Agenda: To elect two Class I nominees to serve on the board of directors of the Company until next annual meeting of stockholders or until their successors are duly elected or appointed; to grant discretionary authority to the Board to amend the Company’s Amended and Restated Articles of Incorporation to effect a reverse stock split of the common stock of the Company within the range of 1-2 to 1-10 to be determined by the Board and with the reverse stock split to be effective at such time and date, if at all, as determined by the Board, but not later than the first anniversary of its approval by stockholders; to vote on an advisory, nonbinding resolution to approve the compensation of the Company’s executive officers; and to consider other matters. Reported Earnings • Sep 29
Full year 2023 earnings released: US$1.09 loss per share (vs US$1.58 loss in FY 2022) Full year 2023 results: US$1.09 loss per share (improved from US$1.58 loss in FY 2022). Revenue: US$4.54m (up 14% from FY 2022). Net loss: US$23.0m (loss narrowed 19% from FY 2022). Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. Announcement • Sep 26
Singularity Future Technology Ltd. Announces Board and Committee Changes On September 21, 2023, Mr. Heng Wang resigned as a director of Singularity Future Technology Ltd. (the “Company”) and a member of the Compensation Committee, the Audit Committee, and the Nominating and Corporate Governance Committee. Mr. Wang’s decision did not result from any disagreement with the Company relating to its operations, policies, or practices. On September 25, 2023, pursuant to its bylaws, the board of directors (the “Board”) of the Company elected Mr. Xu Zhao as a Class I independent director to serve until the annual meeting of stockholders for the fiscal year 2022, to fill the vacancy on the Board resulting from the resignation of Mr. Heng Wang. The Board appointed Mr. Zhao to serve as a member of the Audit Committee, a member of the Compensation Committee and Chair of the Nominating and Corporate Governance Committee. Mr. Zhao has worked as the president of Shijiazhuang Juminhui Technology Co. Ltd. since March 2023. He was the regional manager for Hebei Province of Jiangsu Hengrui Pharmaceuticals Co. Ltd. from September 2009 to July 2022. Mr. Zhao received his bachelor’s degree in marketing from Nankai University Binhai College in 2009. Announcement • Aug 23
Singularity Future Technology Ltd. Announces Executive Changes August 15, 2023, Mr. Dianjiang Wang resigned as the chief financial officer of Singularity Future Technology Ltd. Mr. Wang’s decision did not result from any disagreement with the Company relating to its operations, policies, or practices. On August 21, 2023, the Company entered into an employment agreement with Mr. Ying Cao to serve as the chief financial officer of the Company, effective immediately, with a term of one year. Under the employment agreement, Mr. Ying Cao’s compensation shall consist of an annual base salary of $60,000 and a discretionary annual bonus. The employment agreement. Mr. Ying Cao has served as the department manager and quality control manager at Shaanxi Huaqiang Certified Public Accountants Co. Ltd. since 2015. Prior to that, he served as a project manager in Sigma Accounting Firm from 2007 to 2014. Mr. Cao obtained his bachelor’s degree in accounting from Xi’an University of Finance and Economics. Mr. Cao does not have any family relationships with any of the Company’s directors or executive officers. Board Change • Aug 10
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. 1 highly experienced director. Founder, Chairman, VP and Head of Research & Development Lei Cao is the most experienced director on the board, commencing their role in 2001. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 16
Singularity Future Technology Receives A Non-Compliance Notice from the Nasdaq Stock Market On July 13, 2023, Singularity Future Technology Ltd. received a notice from The Nasdaq Stock Market LLC stating that the Company no longer complies with Nasdaq's independent director and audit committee requirements under Nasdaq's Listing Rule 5605 following the resignation of Tieliang Liu from the Company's board of directors and audit committee effective July 3, 2023. Nasdaq advised the Company that in accordance with Nasdaq's Listing Rule 5605(c)(4), the Company has a cure period to regain compliance (1) until the earlier of the Company's next annual shareholders' meeting or July 3, 2024; or (2) if the next annual shareholders' meeting is held before January 2, 2024, then the Company must evidence compliance no later than January 2, 2024 (the Cure Period"). The Company intends to regain compliance with Nasdaq's Listing Rule 5605 prior to the end of the Cure Period. On July 13, 2023, the Company received a notice from Nasdaq stating that the Company failed to regain compliance with respect to the minimum $1 bid price per share requirement under Nasdaq Listing Rules during the 180 calendar days given by Nasdaq for the Company to regain compliance, which ended on July 5, 2023. However, Nasdaq has determined that the Company is eligible for an additional 180 calendar day period, or until January 2, 2024, to regain compliance. Such determination is based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on the Capital Market with the exception of the bid price requirement, and the Company's written notice of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary. The Company intends to regain compliance with Nasdaq's bid price requirement prior to the end of the second bid price extension. Announcement • Jul 15
Singularity Future Technology Ltd. Announces Termination of Shan Jing as Chief Operating Officer On July 10, 2023, Singularity Future Technology Ltd. terminated the employment of its Chief Operating Officer Shan Jing with cause. The termination was effective immediately. Announcement • Jul 08
Tieliang Liu Resigns as A Director of Singularity Future Technology Ltd. and A Member of the Compensation Committee, the Audit Committee, and the Nominating and Corporate Governance Committee On July 3, 2023, Mr. Tieliang Liu resigned as a director of Singularity Future Technology Ltd. and a member of the Compensation Committee, the Audit Committee, and the Nominating and Corporate Governance Committee. Mr. Liu’s decision did not result from any disagreement with the Company relating to its operations, policies, or practice. New Risk • Jun 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$40m free cash flow). Earnings have declined by 43% per year over the past 5 years. Market cap is less than US$10m (US$9.61m market cap). Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Revenue is less than US$5m (US$4.6m revenue). Reported Earnings • May 17
Third quarter 2023 earnings released: US$0.56 loss per share (vs US$0.47 loss in 3Q 2022) Third quarter 2023 results: US$0.56 loss per share (further deteriorated from US$0.47 loss in 3Q 2022). Revenue: US$759.9k (down 22% from 3Q 2022). Net loss: US$11.9m (loss widened 26% from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 07
First quarter 2023 earnings released: US$0.14 loss per share (vs US$0.18 loss in 1Q 2022) First quarter 2023 results: US$0.14 loss per share. Revenue: US$1.22m (down 32% from 1Q 2022). Net loss: US$3.08m (loss widened 8.0% from 1Q 2022). Announcement • Jan 19
Lieff Cabraser Heimann & Bernstein, LLP Announces Lead Plaintiff Deadline in Securities Class Action National plaintiffs law firm Lieff Cabraser Heimann & Bernstein, LLP urges investors in Singularity Future Technology Ltd. f/k/a Sino-Global Shipping America Ltd. who suffered losses from obtaining Singularity securities between February 12, 2021 and November 17, 2022 to contact our securities fraud litigation attorneys immediately regarding the pending securities fraud class action against Singularity. The deadline to apply to be a lead plaintiff is February 7, 2023. Class Period:February 12, 2021 - November 17, 2022. Lead Plaintiff Motion Deadline: February 7, 2023. The action alleges that, throughout the Class Period, Singularity and certain of its senior executives failed to disclose: (1) that former Vice-President ("VP") and later Chief Executive Officer, President, and Executive, defendant Yang Jie, had misrepresented his educational background, had an outstanding warrant for his arrest in China, had committed forgery, and was the largest shareholder and VP of Finance for China Commercial Credit ("CCC"), which had failed after posting major losses; (2) the Company engaged in material related party transactions; (3) a member of Singularity's Board of Directors had served as a director of CCC; and (4) Singularity lacked adequate internal controls and was subject to a heightened risk of regulatory scrutiny and possible delisting by NASDAQ. Announcement • Jan 11
Singularity Future Technology Receives Non-Compliance Notice from Nasdaq On January 5, 2023, Singularity Future Technology Ltd. (the “Company”) received a deficiency notice from The Nasdaq Stock Market (“Nasdaq”) informing the Company that its common stock, no par value (the “Common Stock”), fails to comply with the $1 minimum bid price required for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) based upon the closing bid price of the Common Stock for the 30 consecutive business days prior to the date of the notice from Nasdaq. Nasdaq’s notice has no immediate effect on the listing of the Common Stock on The Nasdaq Capital Market. Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial compliance period of 180 calendar days, or until July 5, 2023, to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Common Stock must meet or exceed $1.00 per share for a minimum of ten consecutive business days prior to July 5, 2023. If the Company is unable to regain compliance by July 5, 2023, the Company may be eligible for an additional 180 calendar day compliance period to demonstrate compliance with the bid price requirement. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and will need to provide written notice to Nasdaq of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. If the Company does not qualify for the second compliance period or fails to regain compliance during the second 180-day period, Nasdaq will notify the Company of its determination to delist the Common Stock, at which point the Company would have an opportunity to appeal the delisting determination to a Hearings Panel. The Company intends to monitor the closing bid price of the Common Stock and may, if appropriate, consider implementing available options to regain compliance with the minimum bid price requirement under the Nasdaq Listing Rules. Reported Earnings • Feb 16
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: US$0.55 loss per share (down from US$0.23 loss in 2Q 2021). Revenue: US$1.04m (down 45% from 2Q 2021). Net loss: US$8.85m (loss widened US$7.75m from 2Q 2021). Revenue exceeded analyst estimates by 272%. Earnings per share (EPS) also surpassed analyst estimates by 800%. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Dec 31
High number of new directors Independent Director John Levy was the last director to join the board, commencing their role in 2021. Reported Earnings • Oct 01
Full year 2021 earnings released: US$0.79 loss per share (vs US$4.78 loss in FY 2020) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2021 results: Revenue: US$5.15m (down 21% from FY 2020). Net loss: US$6.82m (loss narrowed 59% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Executive Departure • Aug 11
Chief Operating Officer Lei Nie has left the company On the 5th of August, Lei Nie's tenure as Chief Operating Officer ended after less than a year in the role. We don't have any record of a personal shareholding under Lei's name. A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 5.83 years. Reported Earnings • May 16
Third quarter 2021 earnings released: US$0.32 loss per share (vs US$1.08 loss in 3Q 2020) The company reported a soft third quarter result with weaker revenues and control over costs, although losses reduced. Third quarter 2021 results: Revenue: US$953.2k (down 30% from 3Q 2020). Net loss: US$3.48m (loss narrowed 8.8% from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 49 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 14
Second quarter 2021 earnings released: US$0.23 loss per share (vs US$0.12 loss in 2Q 2020) The company reported a poor second quarter result with increased losses, weaker revenues and weaker control over costs. Second quarter 2021 results: Revenue: US$1.88m (down 6.8% from 2Q 2020). Net loss: US$1.10m (loss widened 171% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 88% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Jan 27
New 90-day high: US$4.24 The company is up 86% from its price of US$2.28 on 28 October 2020. The American market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Infrastructure industry, which is up 28% over the same period.