Entrepreneur Universe Bright Group (EUBG), a Nevada-based holding company, reported a revenue of $5.27 million for the fiscal year ending December 31, 2024, marking a 15.5% decrease from $6.24 million in 2023. The decline in revenue was primarily attributed to a significant drop in consultation services related to a client in the live streaming sector, which fell by approximately $1.43 million. Despite this decrease, the company experienced a rise in other consultation services, which partially offset the overall revenue decline. The gross profit for 2024 was $4.59 million, down from $5.76 million in the previous year, resulting in a gross profit margin of 87%, a decrease of 5.4% compared to 2023.
EUBG's net income for 2024 was reported at $1.49 million, a decrease of 34.8% from $2.28 million in 2023. The company's selling, general, and administrative expenses increased by 5.5% to $2.01 million, driven by higher audit and professional fees. The income tax expense also decreased to $1.32 million from $1.65 million in the prior year, reflecting a reduction in taxable income. The company’s total assets as of December 31, 2024, were $9.39 million, down from $10.16 million in 2023, while total liabilities decreased slightly to $977,348.
Strategically, EUBG continues to focus on its digital marketing consultancy services, primarily through its PRC subsidiary, Xi’an Yunchuang Space Information Technology Co., Ltd. The company has not engaged in any significant acquisitions or product launches during the reporting period. As of December 31, 2024, EUBG employed 20 full-time staff, with plans to expand its workforce by three additional employees in 2025 to enhance customer service and sales efforts.
The company faces ongoing challenges due to the regulatory environment in China, which has seen increased scrutiny over foreign investments and overseas listings. EUBG's operations are subject to the laws and regulations of the PRC, and any changes could materially impact its business. The company has not been involved in any cybersecurity investigations or received regulatory objections, but it remains cautious about potential future compliance requirements. Looking ahead, EUBG aims to stabilize its revenue streams and enhance its service offerings while navigating the complexities of the Chinese regulatory landscape.
About ENTREPRENEUR UNIVERSE BRIGHT GROUP
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