Hanryu Holdings Files 2023 Annual Report
Ticker: GITS · Form: 10-K · Filed: Jul 16, 2024 · CIK: 1911545
Sentiment: neutral
Topics: annual-report, 10-K, filing
TL;DR
Hanryu Holdings filed its 2023 10-K. Check financials.
AI Summary
Hanryu Holdings, Inc. filed its annual report for the fiscal year ended December 31, 2023. The company, incorporated in Delaware and headquartered in Seoul, South Korea, operates in the computer programming and data processing sector. The filing includes 147 documents and was submitted on July 16, 2024, under SEC file number 001-41763.
Why It Matters
This 10-K filing provides a comprehensive overview of Hanryu Holdings' financial performance and business operations for the fiscal year 2023, offering insights for investors and stakeholders.
Risk Assessment
Risk Level: low — This is a standard annual report filing and does not inherently present new risks.
Key Numbers
- 147 — Public Documents (Total documents included in the filing.)
- 20231231 — Fiscal Year End (The reporting period for the annual report.)
Key Players & Entities
- Hanryu Holdings, Inc. (company) — Registrant
- 001-41763 (company) — SEC file number
- December 31, 2023 (date) — Fiscal year end
- July 16, 2024 (date) — Filing date
- Seoul, Republic of Korea (location) — Principal executive offices
FAQ
What is the primary business of Hanryu Holdings, Inc.?
Hanryu Holdings, Inc. operates in the Services-Computer Programming, Data Processing, etc. sector, with SIC code 7370.
Where are Hanryu Holdings, Inc.'s principal executive offices located?
The company's principal executive offices are located at 160, Yeouiseo-ro, Yeongdeungpo-Gu, Seoul, Republic of Korea, 07231.
What is the SEC file number for Hanryu Holdings, Inc.?
The SEC file number for Hanryu Holdings, Inc. is 001-41763.
When did Hanryu Holdings, Inc. file its 2023 annual report?
Hanryu Holdings, Inc. filed its 2023 annual report on July 16, 2024.
What is the state of incorporation for Hanryu Holdings, Inc.?
Hanryu Holdings, Inc. is incorporated in Delaware.
Filing Stats: 4,647 words · 19 min read · ~15 pages · Grade level 14.4 · Accepted 2024-07-15 21:48:24
Key Financial Figures
- $0.001 — hich Registered: Class A Common Stock, $0.001 par value per share HRYU The Nasdaq Sto
- $10.00 — mon stock at a public offering price of $10.00 per share, generating gross proceeds of
- $8,773,280 — per share, generating gross proceeds of $8,773,280. Net proceeds from the IPO were approxi
- $7,708,016 — roceeds from the IPO were approximately $7,708,016 after deducting underwriting discounts
- $1,065,264 — ther offering expenses of approximately $1,065,264. The Company granted the underwriters
- $12.5 — an initial exercise price per share of $12.5 (equal to 125% of the initial public of
Filing Documents
- ea0209209-10k_hanryuhold.htm (10-K) — 1707KB
- ea020920901ex3-1_hanryuhold.htm (EX-3.1) — 20KB
- ea020920901ex3-2_hanryuhold.htm (EX-3.2) — 122KB
- ea020920901ex4-1_hanryuhold.htm (EX-4.1) — 15KB
- ea020920901ex4-3_hanryuhold.htm (EX-4.3) — 14KB
- ea020920901ex10-1_hanryuhold.htm (EX-10.1) — 18KB
- ea020920901ex10-2_hanryuhold.htm (EX-10.2) — 107KB
- ea020920901ex10-3_hanryuhold.htm (EX-10.3) — 34KB
- ea020920901ex10-4_hanryuhold.htm (EX-10.4) — 2KB
- ea020920901ex10-5_hanryuhold.htm (EX-10.5) — 40KB
- ea020920901ex10-6_hanryuhold.htm (EX-10.6) — 2KB
- ea020920901ex10-7_hanryuhold.htm (EX-10.7) — 46KB
- ea020920901ex10-8_hanryuhold.htm (EX-10.8) — 74KB
- ea020920901ex16-1_hanryuhold.htm (EX-16.1) — 6KB
- ea020920901ex21-1_hanryuhold.htm (EX-21.1) — 4KB
- ea020920901ex31-1_hanryuhold.htm (EX-31.1) — 9KB
- ea020920901ex31-2_hanryuhold.htm (EX-31.2) — 16KB
- ea020920901ex32-1_hanryuhold.htm (EX-32.1) — 6KB
- ea020920901ex32-2_hanryuhold.htm (EX-32.2) — 7KB
- ea020920901ex97-1_hanryuhold.htm (EX-97.1) — 42KB
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- image_031.jpg (GRAPHIC) — 1KB
- ex10-7_001.jpg (GRAPHIC) — 17KB
- ex16-1_001.jpg (GRAPHIC) — 24KB
- 0001213900-24-061514.txt ( ) — 9929KB
- hryu-20231231.xsd (EX-101.SCH) — 88KB
- hryu-20231231_cal.xml (EX-101.CAL) — 43KB
- hryu-20231231_def.xml (EX-101.DEF) — 404KB
- hryu-20231231_lab.xml (EX-101.LAB) — 663KB
- hryu-20231231_pre.xml (EX-101.PRE) — 403KB
- ea0209209-10k_hanryuhold_htm.xml (XML) — 865KB
Business
Business 1 Item 1A.
Risk Factors
Risk Factors 17 Item 1B. Unresolved Staff Comments 40 Item 1C. Cybersecurity 40 Item 2.
Properties
Properties 41 Item 3.
Legal Proceedings
Legal Proceedings 41 Item 4. Mine Safety Disclosures 41 PART II Item 5. Market for Registrant's Ordinary Shares, Related Shareholder Matters and Issuer Purchases of Equity Securities 42 Item 6. [Reserved] 42 Item 7.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 43 Item 7A.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 54 Item 8.
Financial Statements and Supplementary Data
Financial Statements and Supplementary Data 54 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 54 Item 9A. Controls and Procedure 54 Item 9B. Other Information 54 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 54 PART III Item 10. Directors, Executive Officers and Corporate Governance 55 Item 11.
Executive Compensation
Executive Compensation 5 9 Item 12.
Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters
Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters 63 Item 13. Certain Relationships and Related Transactions, and Director Independence 64 Item 14. Principal Accounting Fees and Services 67 PART IV Item 15. Exhibits and Financial Statement Schedules 68 Item 16. Form 10-K Summary 68 i As used in this Annual Report on Form 10-K, unless otherwise indicated, Hanryu Holding, Inc, together with its consolidated subsidiaries, is hereinafter referred to as "Hanryu Holdings" "us," "we," "our," or the "Company." SPECIAL NOTE REGARDING FORWARD-LOOKING This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are based on our management's beliefs and assumptions and on information currently available to management, and which statements involve substantial risk and uncertainties. All statements contained in this Annual Report on Form 10-K other than statements of historical fact, including statements regarding our future operating results and financial position, our business strategy and plans, market growth and trends, and objectives for future operations are forward-looking statements. Forward-looking "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or "continue" or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. Although we believe that we have a reasonable basis for each forward-looking statement contained in this Report, we caution you that these stateme
Business
Item 1. Business. Overview Hanryu Holdings, Inc., a Delaware corporation (" Hanryu Holdings "), along with our wholly owned operating subsidiaries, Hanryu Bank Co., Ltd. (" HBC "), FNS Co., Ltd. (" FNS "), and Marine Island Co., Ltd. (" Marine Island "), incorporated under the laws of the Republic of Korea (collectively, the " Company ", " we ", " us ", or " our "), is the creator of the engaging and innovative social media platform, "FANTOO". FANTOO connects users around the world that share similar interests by providing distinctive service offerings, technologies, applications, and websites. Through FANTOO, we provide a global multi-media platform for our users to interact with other like-minded users, to share their appreciation of various types of entertainment and cultures, create their own content, enjoy other users' content, engage in commerce, and experience a "fandom" community we believe is unlike any other. FANTOO leverages the growing groups of fans with similar interests, known as "fandoms," in order to tap into the "Fandom Economy" and monetize the growing fandom community. Through fandoms, fans have expanded the scope of their spending on their interests in a variety of ways, including purchasing advertisements, manufacturing and/or purchasing merchandise, and enthusiastic social media promotion. With the rise of social media platforms, fans are no longer passive consumers of content, but are actively sharing ideas and acting as producers and content creators. Furthermore, fandom is now easier to access than ever due to connectivity through social media platforms provided by mobile devices and applications. We believe these characteristics of fandoms have opened up the possibility for FANTOO to make an impact in this market, both for the Company and FANTOO's users. While the majority of our current users are enthusiasts of Korean culture (" K-Culture "), also known as the "Korean Wave," or "Hanryu," we do anticipate expanding into additional ente