ZW Data Action Technologies Inc. Files Q3 2024 10-Q

TL;DR

**ZW Data Action Technologies Inc. filed its Q3 2024 10-Q. Check financials.**

AI Summary

ZW Data Action Technologies Inc. filed its Q3 2024 10-Q report on November 19, 2024, covering the period ending September 30, 2024. The company, formerly known as ChinaNet Online Holdings, Inc., is based in Beijing, China, and operates in computer programming and data processing services. The filing details financial performance and operational updates for the third quarter of 2024.

Why It Matters

This filing provides investors with the latest financial and operational data for ZW Data Action Technologies Inc., crucial for understanding the company's performance and future prospects.

Risk Assessment

Risk Level: medium — As a publicly traded company filing regular reports, there's inherent risk associated with its financial performance and market position, though no specific immediate red flags are apparent in this summary.

Key Numbers

• Q3 2024 — Reporting Period (Covers the third quarter of 2024.)
• 2024-09-30 — Fiscal Period End (The end date for the reporting period.)
• 2024-11-19 — Filing Date (The date the report was submitted to the SEC.)

Key Players & Entities

• ZW Data Action Technologies Inc. (company) — Filer
• ChinaNet Online Holdings, Inc. (company) — Former company name
• 20240930 (date) — Reporting period end date
• 20241119 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 CNET Nasdaq Capital Market Indicat

Filing Documents

• cnet20240930_10q.htm (10-Q) — 2070KB
• ex_743787.htm (EX-31.1) — 9KB
• ex_743788.htm (EX-31.2) — 9KB
• ex_743789.htm (EX-32.1) — 4KB
• 0001171843-24-006453.txt ( ) — 10788KB
• cnet-20240930.xsd (EX-101.SCH) — 91KB
• cnet-20240930_cal.xml (EX-101.CAL) — 51KB
• cnet-20240930_def.xml (EX-101.DEF) — 514KB
• cnet-20240930_lab.xml (EX-101.LAB) — 389KB
• cnet-20240930_pre.xml (EX-101.PRE) — 560KB
• cnet20240930_10q_htm.xml (XML) — 2485KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION PAGE

Interim Financial Statements

Item 1. Interim Financial Statements Condensed Consolidated Balance Sheets as of September 30, 2024 (Unaudited) and December 31, 2023 1 - 2 Condensed Consolidated Statements of Operations and Comprehensive Loss for the Nine and Three Months Ended September 30, 2024 and 2023 (Unaudited) 3 - 4 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 (Unaudited) 5 - 6 Condensed Consolidated Statements of Changes in Equity for the Nine and Three Months Ended September 30, 2024 and 2023 (Unaudited) 7 - 8 Notes to Condensed Consolidated Financial Statements (Unaudited) 9 - 28

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 29 - 40

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 41

Controls and Procedures

Item 4. Controls and Procedures 41

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 41

Risk Factors

Item 1A. Risk Factors 41

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 41

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 41

Other Information

Item 5. Other Information 41

Exhibits

Item 6. Exhibits 42

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Interim Financial Statements

Item 1. Interim Financial Statements The Public Company Accounting Oversight Board (the " PCAOB " ) had historically been unable to inspect our auditor in relation to their audit work performed for our financial statements and the inability of the PCAOB to conduct inspections over our auditor deprived our investors of the benefits of such inspections. Our auditor, ARK Pro CPA & Co. ("ARK"), the independent registered public accounting firm that issues the audit report in our SEC filings, as an auditor of companies that are traded publicly in the United States and a firm registered with the PCAOB, is subject to laws in the United States, pursuant to which the PCAOB conducts regular inspections to assess its compliance with the applicable professional standards. Our auditor is located in Hong Kong Special Administrative Region of the PRC ("Hong Kong"), China, a jurisdiction where the PCAOB was unable to conduct inspections and investigations before 2022. As a result, we and investors in our securities were deprived of the benefits of such PCAOB inspections. On December 15, 2022, the PCAOB announced that it was able to secure complete access to inspect and investigate PCAOB-registered public accounting firms headquartered in China mainland and Hong Kong in 2022. However, the inability of the PCAOB to conduct inspections of auditors in Hong Kong in the past made it more difficult to evaluate the effectiveness of our independent registered public accounting firm's audit procedures or quality control procedures as compared to auditors outside of China mainland and Hong Kong that have been subject to the PCAOB inspections, which could cause investors and potential investors in our securities to lose confidence in our audit procedures and reported financial information and the quality of our financial statements. Our common stock may be delisted and prohibited from trading in the United States under the Holding Foreign Companies Accountable Act, or the HFCAA, as amende

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View this 10-Q filing on SEC EDGAR