13 results
20-F
2024 FY
HPAI
Helport AI Limited Ordinary Shares
8 Aug 24
Annual report (foreign)
6:16pm
(Amounts in and U.S. dollars (“US$”), except share data)
For the years ended June 30, | ||||||||
2023 | 2022 | |||||||
Revenues | $ | 12,728,313 | $ | 2,667,914 | ||||
Cost of revenues | (4,882,792) | (1,246,701) | ||||||
Gross profit | 7,845,521 | 1,421,213 | ||||||
Selling expenses | (50,830) | (99,817) | ||||||
General and administrative expenses | (1,625,887) | (340,625) | ||||||
Research and development expenses | (375,410) | - | ||||||
Total operating expenses | (2,052,127) | (440,442) | ||||||
Income from operation | 5,793,394 | 980,771 | ||||||
Financial expenses, net | (7,936) | (5,894) | ||||||
Income before income tax expense | 5,785,458 | 974,877 | ||||||
Income tax expense | (970,755) | (152,917) | ||||||
Net income | $ | 4,814,703 | $ | 821,960 | ||||
Other comprehensive income, net of tax: | ||||||||
Net change in foreign currency translation adjustment | - | - | ||||||
Total comprehensive income | $ | 4,814,703 | $ | 821,960 | ||||
Earnings per ordinary share | ||||||||
Basic | $ | 30,863 | $ | 5,269 | ||||
Diluted | $ | 30,863 | $ | 5,269 | ||||
Weighted average number of ordinary shares outstanding | ||||||||
Basic | 156 | 156 | ||||||
Diluted | 156 | 156 |
20-F
2024 FY
HPAI
Helport AI Limited Ordinary Shares
8 Aug 24
Annual report (foreign)
6:16pm
A reconciliation between the Group’s actual provision for income taxes and the provision at the Singapore statutory rate is as follows:
For the six months ended December 31, | ||||||||
2023 | 2022 | |||||||
(unaudited) | (unaudited) | |||||||
Income before income tax expenses | $ | 7,522,920 | $ | 2,778,972 | ||||
Income tax expenses at the Singapore statutory rate | 1,278,896 | 472,425 | ||||||
Impact of different tax rates in other jurisdictions | 13,330 | - | ||||||
Effect of preferential tax rate | (12,912) | (12,516) | ||||||
Total income tax expenses | $ | 1,279,314 | $ | 459,909 |
20-F
2024 FY
HPAI
Helport AI Limited Ordinary Shares
8 Aug 24
Annual report (foreign)
6:16pm
The following table sets forth current and deferred portion of income tax expense of the Company’s subsidiary:
For the years ended June 30, | ||||||||
2023 | 2022 | |||||||
Current income tax expense | $ | 970,755 | $ | 152,917 | ||||
Total income tax expense | $ | 970,755 | $ | 152,917 |
20-F
2024 FY
HPAI
Helport AI Limited Ordinary Shares
8 Aug 24
Annual report (foreign)
6:16pm
(Amounts in and U.S. dollars (“US$”), except share data)
For the years ended June 30, | ||||||||
2023 | 2022 | |||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||
Net income | $ | 4,814,703 | $ | 821,960 | ||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
Amortization | 2,333,334 | 583,333 | ||||||
Changes in operating assets and liabilities: | ||||||||
Accounts receivable | (12,079,780) | (2,463,761) | ||||||
Accounts payable | 2,547,916 | 610,813 | ||||||
Amount due to related parties | 7,626 | 16,450 | ||||||
Accrued expenses and other liabilities | 951,932 | 194,508 | ||||||
Income tax payable | 970,148 | 152,917 | ||||||
Net cash used in operating activities | (454,121) | (83,780) | ||||||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||
Loan from a third party | 66,545 | - | ||||||
Loan from related parties | 569,059 | 196,388 | ||||||
Repayment of loan from related parties | (45,102) | (114,465) | ||||||
Net cash provided by financing activities | 590,502 | 81,923 | ||||||
Effect of exchange rate changes | (2,380) | - | ||||||
Net change in cash | 134,001 | (1,857) | ||||||
Cash at the beginning of the year | 8,400 | 10,257 | ||||||
Cash at the end of the year | $ | 142,401 | $ | 8,400 | ||||
Supplemental disclosures of non-cash activities: | ||||||||
Addition of intangible assets in exchange for accounts payable | - | 7,000,000 |
20-F
2024 FY
HPAI
Helport AI Limited Ordinary Shares
8 Aug 24
Annual report (foreign)
6:16pm
(Amounts in and U.S. dollars (“US$”), except share data)
For the six months ended December 31, | ||||||||
2023 | 2022 | |||||||
(unaudited) | (unaudited) | |||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||
Net income | $ | 6,243,606 | $ | 2,319,063 | ||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
Amortization | 1,166,667 | 1,166,667 | ||||||
Changes in operating assets and liabilities: | ||||||||
Accounts receivable | (5,809,454) | (5,652,893) | ||||||
Prepaid expenses and other receivables | (57,896) | - | ||||||
Accounts payable | 1,654,223 | 1,254,250 | ||||||
Amount due to related parties | 10,800 | 90,236 | ||||||
Accrued expenses and other liabilities | 1,939,154 | 391,461 | ||||||
Income tax payable | 1,279,315 | 459,764 | ||||||
Net cash provided by operating activities | 6,426,415 | 28,548 | ||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||
Purchase of intangible assets | (7,000,000) | - | ||||||
Net cash used in investing activities | (7,000,000) | - | ||||||
CASH FLOWS FORM FINANCING ACTIVITIES | ||||||||
Deferred offering costs | (467,465) | - | ||||||
Loan from a third party | 954,909 | - | ||||||
Loan from a related party | - | 7,119 | ||||||
Repayment of loan from a related party | (5,143) | (27,156) | ||||||
Net cash provided by/(used in) financing activities | 482,301 | (20,037) | ||||||
Effect of exchange rate changes | (130) | 1,134 | ||||||
Net change in cash | (91,414) | 9,645 | ||||||
Cash at the beginning of the period | 142,401 | 8,400 | ||||||
Cash at the end of the period | $ | 50,987 | $ | 18,045 |
20-F
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8 Aug 24
Annual report (foreign)
6:16pm
20-F
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8 Aug 24
Annual report (foreign)
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8 Aug 24
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8 Aug 24
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20-F
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8 Aug 24
Annual report (foreign)
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20-F
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8 Aug 24
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20-F
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8 Aug 24
Annual report (foreign)
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20-F
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8 Aug 24
Annual report (foreign)
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