Luduson G Inc. reported a significant turnaround in its financial performance for the fiscal year ending December 31, 2024, achieving a net income of $12.4 million compared to a net loss of $303,197 in the previous year. The company generated $14 million in revenue, marking a substantial increase from zero revenue in 2023. This growth is attributed to the successful implementation of its strategic initiatives, including the expansion into listing consulting services and the acquisition of Glamourous Group Holding Limited, which has enhanced its market presence.
The company's operational expenses rose to $1.5 million from $285,568 in the prior year, reflecting increased investments in business development and infrastructure. Despite the rise in expenses, the company managed to maintain a gross profit margin of 100%, as the cost of revenue was reported as nil. The increase in net income is primarily due to the revenue generated from its new business model, which focuses on providing advisory services to clients seeking to access global capital markets.
In terms of strategic developments, Luduson G Inc. underwent a reverse acquisition of Glamourous Group Holding Limited in July 2023, which has since been restructured to enhance operational efficiency. The company also rolled in LWH Consulting Sdn Bhd to provide listing consulting services, further diversifying its offerings. As of December 31, 2024, the company reported total assets of $22.1 million, a significant increase from $7.1 million in 2023, driven by the acquisition of intangible assets and the growth of its consulting business.
Operationally, Luduson G Inc. has focused on expanding its geographic reach, particularly in Southeast Asia, where it aims to leverage its extensive network and industry relationships. The company reported a total of 563.5 million shares outstanding as of the end of 2024, with a market capitalization that reflects its growth trajectory. The management anticipates requiring approximately $1 to $2 million over the next 12 to 24 months to support its expansion plans and continue its strategic initiatives.
Looking ahead, Luduson G Inc. remains optimistic about its growth prospects, despite the challenges posed by rising interest rates and economic uncertainties in the region. The company plans to continue refining its business model and exploring new opportunities in the listing consulting space, with a focus on enhancing shareholder value and achieving sustainable growth.
About Luduson G Inc.
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