China Green Agriculture, Inc. Files 10-Q for Period Ended March 31, 2024

TL;DR

<b>China Green Agriculture, Inc. has filed its quarterly report (10-Q) for the period ending March 31, 2024, confirming its status as a smaller reporting company.</b>

AI Summary

China Green Agriculture, Inc. (ENFY) filed a Quarterly Report (10-Q) with the SEC on May 16, 2024. China Green Agriculture, Inc. filed a 10-Q report for the quarterly period ended March 31, 2024. The company is incorporated in Nevada and its fiscal year ends on June 30. Its principal executive offices are located in Xi'an, Shaanxi Province, PRC. The filing indicates the company is a non-accelerated filer and a smaller reporting company. The company has submitted and posted Interactive Data Files required by Rule 405 of Regulation S-T.

Why It Matters

For investors and stakeholders tracking China Green Agriculture, Inc., this filing contains several important signals. This 10-Q filing provides investors with an update on the company's financial performance and operational status for the most recent quarter. The classification as a 'smaller reporting company' and 'non-accelerated filer' may influence the level of detail and disclosure requirements compared to larger entities.

Risk Assessment

Risk Level: low — China Green Agriculture, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediate red flags or significant negative disclosures apparent from the header information alone.

Analyst Insight

Review the full 10-Q filing to understand the company's financial performance, operational highlights, and any disclosed risks or forward-looking statements.

Key Numbers

• 2024-03-31 — Quarter End Date (Period covered by the 10-Q)
• 2024-05-16 — Filing Date (Date the 10-Q was filed)

Key Players & Entities

• China Green Agriculture, Inc. (company) — Registrant name
• March 31, 2024 (date) — Quarterly period ended
• 001-34260 (other) — Commission File Number
• Nevada (other) — State of incorporation
• Xi'an, Shaanxi Province, PRC (other) — Address of principal executive offices
• Rule 405 of Regulation S-T (other) — Rule for Interactive Data File submission

FAQ

Industry Context

The company operates in the agriculture chemicals sector, as indicated by its SIC code.

Regulatory Implications

The filing is made under Section 13 or 15(d) of the Securities Exchange Act of 1934, requiring regular reporting for public companies.

What Investors Should Do

1. Analyze the detailed financial statements within the 10-Q for revenue, expenses, and profitability.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into business operations and future outlook.
3. Check for any new risk factors or updates to existing risks disclosed in the filing.

Key Dates

• 2024-03-31: Quarterly Period End — Marks the end of the reporting period for the 10-Q.
• 2024-05-16: Filing Date — Date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year ending June 30, 2024, following the previous fiscal year's filings.

Key Financial Figures

• $0.001 — ate: 14,793,538 shares of common stock, $0.001 par value, as of May 16, 2024. TABLE O

Filing Documents

• ea0205768-10q_chinagreen.htm (10-Q) — 739KB
• ea020576801ex2-1_chinagreen.htm (EX-21.1) — 4KB
• ea020576801ex31-1_chinagreen.htm (EX-31.1) — 10KB
• ea020576801ex31-2_chinagreen.htm (EX-31.2) — 10KB
• ea020576801ex31-3_chinagreen.htm (EX-31.3) — 10KB
• ea020576801ex32-1_chinagreen.htm (EX-32.1) — 4KB
• ea020576801ex32-2_chinagreen.htm (EX-32.2) — 4KB
• ea020576801ex32-3_chinagreen.htm (EX-32.3) — 4KB
• image_001.jpg (GRAPHIC) — 65KB
• 0001213900-24-044343.txt (&nbsp;) — 5370KB
• cga-20240331.xsd (EX-101.SCH) — 52KB
• cga-20240331_cal.xml (EX-101.CAL) — 51KB
• cga-20240331_def.xml (EX-101.DEF) — 227KB
• cga-20240331_lab.xml (EX-101.LAB) — 392KB
• cga-20240331_pre.xml (EX-101.PRE) — 227KB
• ea0205768-10q_chinagreen_htm.xml (XML) — 639KB

Financial Statements (unaudited)

Financial Statements (unaudited) 1 Condensed Consolidated Balance Sheets as of March 31, 2024 and June 30, 2023 1 Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three Months and Nine Months Ended March 31, 2024 and 2023 2 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended March 31, 2024 and 2023 3 Notes to Condensed Consolidated Financial Statements 4 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 33 Item 4.

Controls and Procedures

Controls and Procedures 34 PART II OTHER INFORMATION 35 Item 6. Exhibits 35

Signatures

Signatures 36 Exhibits/Certifications 37 i INFORMATION RELATING TO FORWARD-LOOKING STATEMENTS In addition to historical information, this report contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. You can identify such forward-looking statements by terms such as "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "projects," "should," "would" and similar expressions intended to identify forward-looking statements. Forward-looking statements reflect our current views with respect to future events and are based on assumptions and subject to risks and uncertainties. Given these uncertainties, you should not place undue reliance on these forward-looking statements. These forward-looking our expectations regarding the market for our products and services; our expectations regarding the continued growth of our industry; our beliefs regarding the competitiveness of our products; our expectations regarding the expansion of our manufacturing capacity; our expectations with respect to increased revenue growth and our ability to maintain profitability resulting from increases in our production volumes; our future business development, results of operations and financial condition; competition from other fertilizer and plant producers; the loss of any member of our management team; our ability to integrate acquired subsidiaries and operations into existing operations; market conditions affecting our equity capital; our ability to successfully implement our selective acquisition strategy; changes in general economic conditions; changes in accounting rules or the application of such rules; any failure to comply with the periodic filing and other requirements of The New York Stock Exchange, or NYSE, for continued listing, any failure to ident

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements CHINA GREEN AGRICULTURE, INC. AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) March 31, 2024 June 30, 2023 ASSETS Current assets Cash and cash equivalents $ 61,595,756 $ 71,142,188 Digital assets 34,757 210,342 Accounts receivable, net 14,940,226 16,455,734 Inventories, net 36,704,542 46,455,131 Advances to suppliers, net 21,360,797 14,332,715 Other current assets 2,432,938 2,631,049 Total current assets 137,069,016 151,227,159 Non-current assets Plant, property and equipment, net 16,663,135 16,690,245 Intangible assets, net 13,562,843 13,563,635 Other non-current assets 6,314,128 5,200,325 Total non-current assets 36,540,106 35,454,205 Total assets $ 173,609,122 $ 186,681,364 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable $ 1,916,245 $ 2,100,449 Customer deposits 5,220,526 5,489,781 Accrued expenses and other payables 14,678,667 14,929,427 Amount due to related parties 5,641,462 5,439,209 Taxes payable 26,892,526 27,070,961 Short-term loans 7,505,100 5,346,640 Total current liabilities 61,854,526 60,376,467 Non-current liabilities Long-term loans - 937,040 Total non-current liabilities - 937,040 Total liabilities 61,854,526 61,313,507 Commitments and contingencies - - Shareholders' equity Preferred stock, $ .001 par value, 20,000,000 shares authorized, 0 shares issued and outstanding as of March 31, 2024 and June 30, 2023, respectively - - Common stock, $ .001 par value, 115,197,165 shares authorized, 14,793,538 and 13,380,914 shares issued and outstanding as of March 31, 2024 and June 30, 2023, respectively 14,794 13,381 Additional paid-in capital 244,825,844 242,090,576 Statutory reserve 26,728,079 26,728,079 Retained earnings ( 134,569,167 ) ( 116,513,686 ) Accumulated other comprehensive loss ( 25,244,954 ) ( 26,950,493 ) Total shareholders'

View Full Filing

View this 10-Q filing on SEC EDGAR