| | | June 30,
2024 | | | December 31,
2023 | |
| ASSETS | | (Unaudited) | | | | |
| CURRENT ASSETS: | | | | | | |
| Cash and cash equivalents | | $ | 47,864,037 | | | $ | 114,454,844 | |
| Restricted cash | | | - | | | | 197,096 | |
| Short-term investments | | | 8,044,415 | | | | 12,788,629 | |
| Accounts receivable, net | | | 31,904,860 | | | | 21,120,795 | |
| Advance to suppliers, net | | | 85,801,726 | | | | 38,602,304 | |
| Receivables from supply chain solutions | | | 34,005,851 | | | | 59,167,029 | |
| Inventories | | | 25,321,304 | | | | 30,953,583 | |
| Prepaid expenses and other current assets | | | 14,575,029 | | | | 16,018,778 | |
| TOTAL CURRENT ASSETS | | | 247,517,222 | | | | 293,303,058 | |
| | | | | | | | | |
| NON-CURRENT ASSETS: | | | | | | | | |
| Property and equipment, net | | | 721,621 | | | | 881,276 | |
| Intangible assets, net | | | 430,354 | | | | 882,828 | |
| Right-of-use assets, net | | | 2,182,671 | | | | 2,384,590 | |
| Equity investments | | | 319,275 | | | | 368,528 | |
| Goodwill | | | 17,253,427 | | | | 17,659,983 | |
| Deferred tax assets, net | | | 408,935 | | | | 418,571 | |
| TOTAL NON-CURRENT ASSETS | | | 21,316,283 | | | | 22,595,776 | |
| TOTAL ASSETS | | $ | 268,833,505 | | | $ | 315,898,834 | |
| | | | | | | | | |
| LIABILITIES | | | | | | | | |
| CURRENT LIABILITIES: | | | | | | | | |
| Accounts payable | | $ | 15,371,048 | | | $ | 45,463,753 | |
| Short-term bank loans | | | 2,752,092 | | | | 1,971,859 | |
| Accrued expenses and other current liabilities | | | 2,948,837 | | | | 7,245,358 | |
| Operating lease liabilities - current | | | 976,889 | | | | 861,087 | |
| Payables to supply chain solutions | | | 4,295,683 | | | | 12,947,708 | |
| Advances from customer | | | 27,828,709 | | | | 38,153,915 | |
| Taxes payable | | | 4,126,779 | | | | 4,145,920 | |
| Liabilities of financial guarantee | | | 21,821 | | | | 22,335 | |
| Due to related parties - current | | | 268,329 | | | | 274,652 | |
| TOTAL CURRENT LIABILITIES | | | 58,590,187 | | | | 111,086,587 | |
| | | | | | | | | |
| Operating lease liabilities – non-current | | | 1,386,557 | | | | 1,643,076 | |
| Deferred tax liabilities | | | 29,516 | | | | 114,650 | |
| TOTAL NON-CURRENT LIABILITIES | | | 1,416,073 | | | | 1,757,726 | |
| TOTAL LIABILITIES | | | 60,006,260 | | | | 112,844,313 | |
| | | | | | | | | |
| SHAREHOLDERS’ EQUITY:* | | | | | | | | |
| Class A common stock, $0.01 par value, 30,000,000 and 30,000,000 shares authorized, 4,017,596 and 4,017,596 shares issued, and 3,952,198 and 3,952,198 shares outstanding as of June 30, 2024 and December 31, 2023, respectively | | | 40,176 | | | | 40,176 | |
| Class B common stock, $0.01 par value, 1,000,000 shares authorized, no shares issued and outstanding as of June 30, 2024 and December 31, 2023 | | | - | | | | - | |
| Treasury shares | | | (228,240 | ) | | | (261,592 | ) |
| Additional paid-in capital | | | 130,535,082 | | | | 130,535,082 | |
| Retained earnings | | | 78,009,782 | | | | 68,395,637 | |
| Statutory reserves | | | 12,253,635 | | | | 11,564,250 | |
| Accumulated other comprehensive loss | | | (16,060,474 | ) | | | (11,474,682 | ) |
| COMMON SHAREHOLDERS’ EQUITY | | | 204,549,961 | | | | 198,798,871 | |
| Non-controlling interests | | | 4,277,284 | | | | 4,255,650 | |
| TOTAL SHAREHOLDERS’ EQUITY | | | 208,827,245 | | | | 203,054,521 | |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | | $ | 268,833,505 | | | $ | 315,898,834 | |
| | | For the Six Months Ended
June 30, | |
| | | 2024 | | | 2023 | |
| REVENUES: | | | | | | |
| Revenues generated from sales: | | | | | | |
| Supply chain trading business | | $ | 142,079,851 | | | $ | 66,249,853 | |
| Revenues generated from services: | | | | | | | | |
| Small and Medium Enterprise financing solutions | | | 48,527,509 | | | | 57,956,690 | |
| Supply Chain financing solutions | | | 1,929,533 | | | | 2,737,265 | |
| Total revenue generated from services | | | 50,457,042 | | | | 60,693,955 | |
| TOTAL REVENUES | | | 192,536,893 | | | | 126,943,808 | |
| | | | | | | | | |
| COST OF REVENUE: | | | | | | | | |
| Cost of revenue - sales | | | (140,743,9533 | ) | | | (67,342,086 | ) |
| Cost of revenue - services | | | (34,253,460 | ) | | | (39,529,203 | ) |
| Business and sales related taxes | | | (287,225 | ) | | | (231,103 | ) |
| GROSS PROFIT | | | 17,252,255 | | | | 19,841,416 | |
| | | | | | | | | |
| OPERATING EXPENSES: | | | | | | | | |
| Selling expenses | | | (811,360 | ) | | | (2,637,517 | ) |
| General and administrative expenses | | | (4,718,918 | ) | | | (5,489,580 | ) |
| Research and development expenses | | | (446,877 | ) | | | (351,200 | ) |
| Expected credit income | | | 262,584 | | | | 235,377 | |
| Total operating expenses | | | (5,714,571 | ) | | | (8,242,920 | ) |
| INCOME FROM OPERATIONS | | | 11,537,684 | | | | 11,598,496 | |
| | | | | | | | | |
| OTHER INCOME (EXPENSE): | | | | | | | | |
| Interest and investment income | | | 801,987 | | | | 1,498,856 | |
| Other income, net | | | 425,839 | | | | 880,144 | |
| Total other income, net | | | 1,227,826 | | | | 2,379,000 | |
| | | | | | | | | |
| INCOME BEFORE PROVISION FOR INCOME TAXES | | | 12,765,510 | | | | 13,977,496 | |
| | | | | | | | | |
| INCOME TAXE EXPENSES | | | (2,440,569 | ) | | | (2,610,535 | ) |
| | | | | | | | | |
| NET INCOME | | | 10,324,941 | | | | 11,366,961 | |
| Net income attributable to non-controlling interests | | | (21,411 | ) | | | (47,574 | ) |
| NET INCOME - Nisun International’s shareholders | | $ | 10,303,530 | | | $ | 11,319,387 | |
| | | | | | | | | |
| OTHER COMPREHENSIVE LOSS | | | | | | | | |
| Foreign currency translation loss | | | (4,585,569 | ) | | | (8,175,831 | ) |
| COMPREHENSIVE INCOME | | | 5,717,961 | | | | 3,143,556 | |
| Comprehensive loss attributable to non-controlling interests | | | (223 | ) | | | (1,487 | ) |
| COMPREHENSIVE INCOME | | $ | 5,717,738 | | | $ | 3,142,069 | |
| BASIC AND DILUTED EARNINGS PER COMMON SHARE: | | | | | | | | |
| NET EARNINGS PER COMMON SHARE | | $ | 2.61 | | | $ | 2.87 | |
| Weighted average number of shares outstanding-basic and diluted* | | | 3,952,198 | | | | 3,943,288 | |
| | | For the Six Months Ended
June 30, | |
| | | 2024 | | | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | |
| Net income | | $ | 10,324,941 | | | $ | 11,366,961 | |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | | | | | | | | |
| Depreciation and amortization | | | 847,585 | | | | 1,294,166 | |
| Expected credit income | | | (262,584 | ) | | | (234,120 | ) |
| Property and equipment written off | | | 1,807 | | | | 4,178 | |
| Income from investments | | | (287,022 | ) | | | (7,296 | ) |
| Deferred tax benefit | | | (83,112 | ) | | | (51,609 | ) |
| Repurchase Treasury shares | | | 33,352 | | | | - | |
| Changes in operating assets and liabilities: | | | | | | | | |
| Accounts receivable | | | (11,262,419 | ) | | | (11,089,756 | ) |
| Advance to suppliers | | | (48,309,925 | ) | | | 28,012,573 | |
| Prepaid expenses and other current assets | | | (976,429 | ) | | | (3,140,645 | ) |
| Receivables from supply chain solutions | | | 24,053,943 | | | | 3,411,356 | |
| Inventories | | | 4,956,474 | | | | (18,988,807 | ) |
| Accounts payable | | | (29,263,247 | ) | | | (1,839,578 | ) |
| Advance from customers | | | (9,517,489 | ) | | | 41,474,328 | |
| Taxes payable | | | 75,614 | | | | 754,075 | |
| Other payables | | | (1,514,377 | ) | | | 4,016,393 | |
| Payable to supply chain solutions | | | (8,416,415 | ) | | | 2,165,239 | |
| Operating lease liabilities | | | (83,690 | ) | | | (490,946 | ) |
| Accrued expenses and other current liabilities | | | 334,742 | | | | 567,503 | |
| NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES | | | (69,348,251 | ) | | | 57,224,015 | |
| | | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | |
| Acquisition of property and equipment | | | (11,673 | ) | | | (226,403 | ) |
| Purchase of intangible asset | | | (4,316 | ) | | | (43,534 | ) |
| Proceeds from sale of short-term investments | | | 24,704,041 | | | | 53,004,461 | |
| Proceeds from sale of long-term investment | | | - | | | | 2,792,763 | |
| Proceeds from investment in debt securities | | | - | | | | 14,204,625 | |
| Purchase of short-term investments | | | (19,892,871 | ) | | | (60,463,319 | ) |
| Repayments from loans to third parties | | | 2,079,501 | | | | 471,604 | |
| Payments made for loans to third parties | | | - | | | | (16,756,578 | ) |
| NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | | | 6,874,682 | | | | (7,016,381 | ) |
| | | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | |
| Proceeds from short-term bank loans | | | 1,386,334 | | | | 139,638 | |
| Repayment of short-term bank loans | | | (624,198 | ) | | | (11,912 | ) |
| Proceeds from third party loans | | | - | | | | 1,954,934 | |
| Repayment to related party | | | - | | | | (8,000,000 | ) |
| Repayment of third party loans | | | (2,911,302 | ) | | | (2,252,363 | ) |
| Capital contribution from non-controlling interest | | | - | | | | 37,116 | |
| Repurchase Treasury shares | | | - | | | | (17,514 | ) |
| NET CASH USED IN FINANCING ACTIVITIES | | | (2,149,166 | ) | | | (8,150,101 | ) |
| | | | | | | | | |
| EFFECT OF EXCHANGE RATE CHANGE ON CASH AND CASH EQUIVALENTS | | | (2,165,168 | ) | | | (2,738,394 | ) |
| NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | | | (66,787,903 | ) | | | 39,319,139 | |
| | | | | | | | | |
| CASH AND CASH EQUIVALENTS AND RESTRICTED CASH-BEGINNING | | | 114,651,940 | | | | 67,318,573 | |
| CASH AND CASH EQUIVALENTS AND RESTRICTED CASH-ENDING | | $ | 47,864,037 | | | $ | 106,637,712 | |
| | | | | | | | | |
| SUPPLEMENTAL CASH FLOW DISCLOSURES: | | | | | | | | |
| Cash paid for income taxes | | $ | 3,516,019 | | | $ | 1,560,580 | |
| Cash paid for interest | | $ | 69,664 | | | $ | 11,912 | |
| | | | | | | | | |
| SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES: | | | | | | | | |
| Lease liabilities arising from obtaining right-of-use assets | | $ | 266,413 | | | $ | - | |
| | | | | | | | | |
| CASH AND CASH EQUIVALENTS FROM CONTINUING OPERATIONS ARE COMPRISED OF THE FOLLOWING: | | | | | | | | |
| Cash and cash equivalents | | $ | 47,864,037 | | | $ | 105,994,692 | |
| Restricted cash | | | - | | | | 643,020 | |
| Total cash and cash equivalents and restricted cash | | $ | 47,864,037 | | | $ | 106,637,712 | |
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