Document And Entity Information
Document And Entity Information | 6 Months Ended |
Jun. 30, 2023 | |
Document Information Line Items | |
Entity Registrant Name | ETAO International Co., Ltd. |
Document Type | 6-K |
Current Fiscal Year End Date | --12-31 |
Amendment Flag | false |
Entity Central Index Key | 0001939696 |
Document Period End Date | Jun. 30, 2023 |
Document Fiscal Year Focus | 2023 |
Document Fiscal Period Focus | Q2 |
Entity File Number | 001-41629 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash | $ 772,048 | $ 693,781 |
Restricted Cash | 1,327,463 | |
Accounts Receivable | 1,211,866 | 1,425,824 |
Advances to suppliers | 4,069 | 66,638 |
Other Receivables and prepayments | 55,526 | 59,682 |
Inventory | 115,512 | 301,810 |
Total current assets | 3,486,484 | 2,547,735 |
Property, plants and equipment, net | 185,979 | 173,342 |
Intangible assets, net | 22,780 | 24,005 |
Longterm prepaid expenses | (15,362) | |
Right-of-use assets | 447,645 | 471,716 |
Total non-current assets | 942,017 | 816,448 |
TOTAL ASSETS | 4,428,501 | 3,364,183 |
Current liabilities: | ||
Bank Loans | 137,574 | 166,717 |
Accounts Payable-Trade | 222,494 | 342,446 |
Customer Advances | 285,265 | 310,548 |
Accrued expenses and other Payables | 426,498 | 419,887 |
Operating lease payable, current | 116,747 | 123,025 |
Total current liabilities | 1,188,578 | 1,362,623 |
Note payable | 1,319,487 | |
Operating lease payable, non-current | 303,431 | 319,748 |
TOTAL LIABILITIES | 2,896,009 | 2,279,758 |
Commitments and contingencies | ||
Equity | ||
Ordinary shares | 330 | |
Additional Paid in Capital | 877,742,498 | 877,742,498 |
Accumulated deficit | (876,019,100) | (876,517,003) |
Accumulated other comprehensive loss | (176,551) | (100,955) |
Etao’s shareholders’ equity | 1,556,517 | 1,134,540 |
Non-controlling Interest | (24,025) | (50,115) |
TOTAL EQUITY | 1,532,492 | 1,084,425 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 4,428,501 | 3,364,183 |
Class A Ordinary Shares | ||
Equity | ||
Ordinary shares | 9,670 | 9,670 |
Related Party | ||
Current assets: | ||
Related party receivable | 300,975 | 147,385 |
Current liabilities: | ||
Related party payable | $ 84,513 | $ 597,387 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - Class A Ordinary Shares - $ / shares | Jun. 30, 2023 | Dec. 31, 2022 |
Ordinary shares, par value (in Dollars per share) | $ 0.0001 | $ 0.0001 |
Ordinary shares, shares issued | 96,700,000 | 96,700,000 |
Ordinary shares, shares outstanding | 96,700,000 | 96,700,000 |
Consolidated Statements of Inco
Consolidated Statements of Income and Comprehensive Loss - USD ($) | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Income Statement [Abstract] | ||
Net revenue | $ 1,923,283 | $ 1,093,836 |
Cost of revenue | (1,209,423) | (603,592) |
Gross profit | 713,860 | 490,244 |
Operating expenses: | ||
Selling expense | (350,936) | (76,055) |
General and administrative | (1,857,617) | (133,875) |
Research and developing Expense | (22,055) | |
Total operating expenses | (2,230,608) | (209,930) |
Income (loss) from operations | (1,516,748) | 280,314 |
Other income (loss): | ||
Other income | 38,053 | 2,371 |
Interest income | 2,918 | |
Interest expense | (4,004) | (3,694) |
Other expenses | (352) | (2,322) |
Total other income/(loss) | 36,615 | (3,645) |
Profit (loss) before income tax expense | (1,480,133) | 276,669 |
Income tax expense | (7,146) | (614) |
Net profit (loss) from continuing business | (1,487,729) | 276,055 |
Non-controlling interest (income) loss | (24,700) | (79,812) |
Net profit (loss) attributed to shareholders | (1,511,979) | 196,243 |
Other comprehensive income (loss): | ||
Foreign currency translation loss, net of income taxes | (75,596) | (16,716) |
Total comprehensive income (loss) | $ (1,587,575) | $ 179,527 |
Loss per ordinary share, basic (in Dollars per share) | $ (1.15) | |
Weighted average number of ordinary shares outstanding, basic (in Shares) | 102,445,851 |
Consolidated Statements of In_2
Consolidated Statements of Income and Comprehensive Loss (Parentheticals) | 6 Months Ended |
Jun. 30, 2023 $ / shares shares | |
Income Statement [Abstract] | |
Loss per ordinary share, diluted | $ / shares | $ (0.08) |
Weighted average number of ordinary shares outstanding, diluted | shares | 102,445,881 |