Able View Global Inc. Files 6-K with Financial Updates

TL;DR

Able View Global Inc. dropped its latest balance sheets on 6-K, check the numbers for June 30, 2024.

AI Summary

Able View Global Inc. filed a Form 6-K on December 19, 2024, reporting its unaudited condensed consolidated balance sheets as of June 30, 2024, and December 31, 2023. The filing provides financial information for the company, which operates as a non-store retailer.

Why It Matters

This filing provides investors with a snapshot of Able View Global Inc.'s financial position as of mid-2024 and the end of 2023, crucial for assessing its stability and performance.

Risk Assessment

Risk Level: low — This is a routine financial filing (6-K) providing balance sheet information, not indicating any immediate operational or market risks.

Key Players & Entities

• Able View Global Inc. (company) — Registrant
• 0001957489 (company) — Central Index Key
• 5960 (company) — Standard Industrial Classification Code for Non-Store Retailers
• June 30, 2024 (date) — Balance Sheet reporting date
• December 31, 2023 (date) — Balance Sheet reporting date

FAQ

Key Financial Figures

• $ — whose functional currency is not the US$, are translated into US$, using the exc

Filing Documents

• ea0224690-6k_able.htm (6-K) — 1112KB
• 0001213900-24-110577.txt ( ) — 6718KB
• ablv-20240630.xsd (EX-101.SCH) — 72KB
• ablv-20240630_cal.xml (EX-101.CAL) — 46KB
• ablv-20240630_def.xml (EX-101.DEF) — 312KB
• ablv-20240630_lab.xml (EX-101.LAB) — 513KB
• ablv-20240630_pre.xml (EX-101.PRE) — 324KB
• ea0224690-6k_able_htm.xml (XML) — 1054KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of December 2024 Commission File Number: 001-41785 Able View Global Inc. (Exact name of Registrant as specified in its charter) Floor 16, Dushi Headquarters Building No. 168, Middle Xizang Road Shanghai, 200001, People's Republic of China +86 185 0177 0425 (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F Form 40-F ABLE VIEW GLOBAL INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS As of June 30, 2024 and December 31, 2023 (Expressed in U.S. dollar) Able View Global Inc. (the "Company") furnishes under the cover of Form 6-K the following: June 30, 2024 December 31, 2023 ASSETS Current Assets Cash and cash equivalents $ 9,054,254 $ 13,328,156 Accounts receivable 12,605,035 14,475,994 Prepayments and other current assets 6,754,391 3,286,579 Amount due from related parties — 18,311 Inventories 14,177,640 17,426,085 Total Current Assets 42,591,320 48,535,125 Non-current Assets Property and equipment, net 542,383 676,646 Right of use assets, net 1,415,033 1,680,547 Deferred tax assets 5,186,135 2,749,408 Other non-current assets 1,090,023 1,264,969 Total Non-current Assets 8,233,574 6,371,570 Total Assets $ 50,824,894 $ 54,906,695 LIABILITIES AND SHAREHOLDERS' (DEFICITS) EQUITY Current Liabilities Short-term borrowings $ 7,659,016 $ 2,884,519 Accounts payable 1,999,864 3,647,682 Advance from customers 4,473,963 239,073 Income tax payable 2,741,088 4,887,126 Lease liabilities 752,429 761,904 Other payable and accrued expenses 2,082,543 2,680,306 Amount due to related parties 437,091 552,343 Total Current Liabilities 20,145,994 15,652,953 Lease liabilities, noncurrent 638,711 1,003,943 Amount due to related parties, non-current 23,089,960 26,414,083 Deferred tax liabilities 353,059 420,137 Long-term borrowings 2,180,694 — Total Liabilities 46,408,418 43,491,116 Commitments and Contingencies Shareholders' (Deficits) Equity Class A Ordinary Shares ($ 0.0001 par value, 100,000,000 shares authorized; 24,871,433 shares and 24,871,433 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively) 2,487 2,487 Class B Ordinary Shares ($ 0.0001 par value, 500,000,000 shares authorized; 16,766,549 shares and 17,247,383 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively) 1,677 1,725 Additional paid-in capital 890,143 1,755,595 Statutory reserve 158,027 158,027 Retained earnings 3,126,338 9,462,217 Accumulated other comprehensive income 237,804 35,528 Total Shareholders' Equity 4,416,476 11,415,579 Total Liabilities and Shareholders' (Deficits) Equity $ 50,824,894 $ 54,906,695 The accompanying notes are an integral part of the unaudited condensed consolidated financial statements 1 ABLE VIEW GLOBAL INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME For the Six Months Ended June 30, 2024 and 2023 (Expressed in U.S. dollar, except for share and per share data, unless otherwise noted) For the Six Months Ended June 30, 2024 2023 Revenues - Product sales to third parties $ 62,674,078 $ 81,663,901 - Product sales to related parties 77,193 — Total revenue 62,751,271 81,663,901 Cost of revenue - Product sales to third parties ( 57,891,551 ) ( 61,993,686 ) - Product sales to related parties ( 77,193 ) — Total cost of revenue ( 57,968,744 ) ( 61,993,686 ) Gross profit 4,782,527 19,670,215 Operating expenses Selling and marketing expenses ( 9,152,241 ) ( 9,229,698 ) General and administrative expenses ( 3,647,752 ) ( 2,365,150 ) Total operating expenses ( 12,799,993 ) ( 11,594,848 ) (Loss) income from operations ( 8,017,466 ) 8,075,367 Other income (expenses), net Interest expenses, net ( 466,351 ) ( 698,500 ) Other (expenses) income ( 135,060 ) 151,454 Foreign currency exchange loss ( 174,683 ) ( 856,930 ) Total other expenses, net ( 776,094 ) ( 1,403,976 ) (Loss) income before income taxes ( 8,793,560 ) 6,671,391 Income tax benefits (expenses) 2,457,681 ( 1,022,634 ) Net (loss) income ( 6,335,879 ) 5,648,757 Accretion of convertible redeemable preferred shares — ( 120,000 ) Net income attributable to Able View Global Inc's preferred shareholders — ( 85,728 ) Net (loss) income attributable to Able View Global Inc's ordinary shareholders $ ( 6,335,879 ) $ 5,443,029 Net (loss) income $ ( 6,335,879 ) $ 5,648,757 Other comprehensive income Foreign currency translation adjustment 202,276 63,225 Comprehensive (loss) income ( 6,133,603

View Full Filing

View this 6-K filing on SEC EDGAR