Greenpro Capital Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Greenpro Capital Corp. has filed its annual report for the fiscal year ended December 31, 2023.</b>

AI Summary

Greenpro Capital Corp. (GRNQ) filed a Annual Report (10-K) with the SEC on March 28, 2024. Greenpro Capital Corp. filed its 2023 Form 10-K on March 28, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business address is in Kuala Lumpur, Malaysia. Greenpro Capital Corp. was formerly known as Greenpro, Inc., with a name change effective January 22, 2014. The SIC code for Greenpro Capital Corp. is 7374, indicating services in computer processing and data preparation.

Why It Matters

For investors and stakeholders tracking Greenpro Capital Corp., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Greenpro Capital Corp.'s financial performance, business operations, and risk factors for the fiscal year 2023, which is crucial for investors to assess the company's current standing and future prospects. The detailed financial statements and disclosures within the 10-K allow stakeholders to understand the company's revenue streams, profitability, assets, liabilities, and any significant changes or trends compared to previous periods.

Risk Assessment

Risk Level: medium — Greenpro Capital Corp. shows moderate risk based on this filing. The company's business operations and financial performance are subject to various risks and uncertainties inherent in the technology and investment sectors, as detailed in the risk factors section of the 10-K.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand Greenpro Capital Corp.'s financial health and operational challenges.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period covered by the 10-K filing)
• 2024-03-28 — Filing Date (Date the 10-K was filed with the SEC)
• 2014-01-22 — Name Change Date (Date Greenpro, Inc. changed its name to Greenpro Capital Corp.)
• 7374 — SIC Code (Standard Industrial Classification for the company)

Key Players & Entities

• Greenpro Capital Corp. (company) — Filer name
• GRNQ (company) — Ticker symbol
• 2023-12-31 (date) — Fiscal year end
• 2024-03-28 (date) — Filing date
• Greenpro, Inc. (company) — Former company name
• 7374 (industry) — Standard Industrial Classification
• NV (state) — State of incorporation
• Kuala Lumpur (location) — Business address city

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-03-28: Filing Date — Date the 10-K was officially submitted to the SEC.
• 2014-01-22: Former Company Name Change — Indicates the transition from Greenpro, Inc. to Greenpro Capital Corp.

Key Financial Figures

• $0.0001 — nge on Which Registered Common Stock, $0.0001 par value GRNQ NASDAQ Capital Mark
• $1.82 — ased on the last reported sale price of $1.82 per share. APPLICABLE ONLY TO REGISTR
• $0 — there were 7,515,813 shares, par value $0.0001, of the registrant's Common Stock
• $1 — director, Mr. Lee at a consideration of $1. On January 22, 2014, GHL acquired 2
• $2 — and Loke at a total consideration of HK$2 (approximately $0.26). At the same day
• $0.26 — al consideration of HK$2 (approximately $0.26). At the same day after this acquisitio
• $1,075,000 — dditional 1,075,000 shares to GHL for HK$1,075,000 (approximately $138,709). On June 30,
• $138,709 — to GHL for HK$1,075,000 (approximately $138,709). On June 30, 2014, GRHK acquired 100
• $2,943,298 — , Mr. Lee and his spouse, Ms. Yap for HK$2,943,298 (approximately $379,780). GRSB is princ
• $379,780 — Ms. Yap for HK$2,943,298 (approximately $379,780). GRSB is principally engaged in commer
• $156,058 — 019, GNFA redeemed the Policy valued at $156,058. After deducting the loan balance of $1
• $115,889 — 58. After deducting the loan balance of $115,889 and the insurance expense of $531 from
• $531 — f $115,889 and the insurance expense of $531 from the value of the Policy, GNFA rece
• $39,638 — received a net cash surrender value of $39,638. On July 28, 2017, Greenpro Financial
• $25,500 — of our restricted Common Stock and paid $25,500 in cash. At the time of the acquisiti

Filing Documents

• form10-k.htm (10-K) — 2331KB
• ex10-58.htm (EX-10.58) — 8KB
• ex10-59.htm (EX-10.59) — 2KB
• ex10-60.htm (EX-10.60) — 2KB
• ex10-61.htm (EX-10.61) — 2KB
• ex31-1.htm (EX-31.1) — 16KB
• ex31-2.htm (EX-31.2) — 16KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 7KB
• ex97-1.htm (EX-97.1) — 40KB
• fin_001.jpg (GRAPHIC) — 42KB
• fin_002.jpg (GRAPHIC) — 6KB
• form10-k_002.jpg (GRAPHIC) — 12KB
• form10-k_003.jpg (GRAPHIC) — 7KB
• form10-k_004.jpg (GRAPHIC) — 6KB
• form10-k_005.jpg (GRAPHIC) — 7KB
• form10-k_006.jpg (GRAPHIC) — 7KB
• form10-k_007.jpg (GRAPHIC) — 7KB
• form10-k_008.jpg (GRAPHIC) — 394KB
• ex10-58_001.jpg (GRAPHIC) — 310KB
• ex10-58_002.jpg (GRAPHIC) — 333KB
• ex10-58_003.jpg (GRAPHIC) — 307KB
• ex10-58_004.jpg (GRAPHIC) — 200KB
• ex10-58_005.jpg (GRAPHIC) — 308KB
• ex10-58_006.jpg (GRAPHIC) — 320KB
• ex10-58_007.jpg (GRAPHIC) — 304KB
• ex10-58_008.jpg (GRAPHIC) — 157KB
• ex10-58_009.jpg (GRAPHIC) — 88KB
• ex10-59_001.jpg (GRAPHIC) — 358KB
• ex10-59_002.jpg (GRAPHIC) — 339KB
• ex10-59_003.jpg (GRAPHIC) — 181KB
• ex10-60_001.jpg (GRAPHIC) — 353KB
• ex10-60_002.jpg (GRAPHIC) — 338KB
• ex10-60_003.jpg (GRAPHIC) — 182KB
• ex10-61_001.jpg (GRAPHIC) — 242KB
• ex10-61_002.jpg (GRAPHIC) — 259KB
• 0001493152-24-011639.txt (&nbsp;) — 18174KB
• grnq-20231231.xsd (EX-101.SCH) — 75KB
• grnq-20231231_cal.xml (EX-101.CAL) — 87KB
• grnq-20231231_def.xml (EX-101.DEF) — 343KB
• grnq-20231231_lab.xml (EX-101.LAB) — 541KB
• grnq-20231231_pre.xml (EX-101.PRE) — 484KB
• form10-k_htm.xml (XML) — 1802KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 31 Item 1B. Unresolved Staff Comments 48 Item 1C. Cybersecuri ty 48 Item 2.

Properties

Properties 48 Item 3.

Legal Proceedings

Legal Proceedings 48 Item 4. Mine Safety Disclosure 48 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 49 Item 6. [Reserved] 50 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 50 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 56 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 56 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 56 Item 9A.

Controls and Procedures

Controls and Procedures 56 Item 9B. Other Information 56 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 56 PART III Item 10. Directors, Executive Officers and Corporate Governance 57 Item 11.

Executive Compensation

Executive Compensation 62 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 62 Item 13. Certain Relationships and Related Transactions, and Director Independence 64 Item 14. Principal Accounting Fees and Services 65 PART IV Item 15. Exhibits, Financial Statement Schedules 66 Item 16. Form 10-K Summary 68

SIGNATURES

SIGNATURES 69 2 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements. These forward-looking statements are not historical facts but rather are based on current expectations, estimates and projections. We may use words such as "anticipate," "expect," "intend," "plan," "believe," "foresee," "estimate" and variations of these words and similar expressions to identify forward-looking statements. These statements are not guaranteed to future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted. These risks and uncertainties include the following: The availability and adequacy of our cash flow to meet our requirements; Economic, competitive, demographic, business and other conditions in our local and regional markets; Changes or developments in laws, regulations or taxes in our industry; Actions taken or omitted to be taken by third parties including our suppliers and competitors, as well as legislative, regulatory, judicial and other governmental authorities; Competition in our industry; The loss of or failure to obtain any license or permit necessary or desirable in the operation of our business; Changes in our business strategy, capital improvements or development plans; The availability of additional capital to support capital improvements and development; and Other risks identified in this Annual Report and in our other filings with the Securities and Exchange Commission or the SEC. This Annual Report should be read completely and with the understanding that actual future results may be materially different from what we expect. The forward-looking statements included in this Annual Report are made as of the date of this Annual Report and should be evaluated with consideration of any changes occurring

Business

Business Greenpro Capital Corp. (Nevada, USA) Provides financial consulting services and corporate services. Greenpro Resources Limited (British Virgin Islands) A holding company. Greenpro Holding Limited (Hong Kong) A holding company. Greenpro Resources (HK) Limited (Hong Kong) Holds Greenpro's intellectual property and currently holds six trademarks and applications thereof. Greenpro Resources Sdn. Bhd. (Malaysia) Holds investment in commercial real estate in Malaysia. Greenpro Management Consultancy Limited (China) Provides corporate advisory services such as tax planning, cross-border listing solution and advisory in China. Shenzhen Falcon Financial Consulting Limited (China) Provides Hong Kong company formation advisory services and company secretarial services and financial services. It focuses on China clients. Greenpro ESG Solutions Sdn. Bhd. (formerly known as Greenpro Global Capital Sdn. Bhd.) (Malaysia) Provides corporate advisory services such as company review, bank loan advisory and bank products analysis services. Greenpro New Finance Academy Limited (formerly known as Greenpro Synergy Network Limited) (Hong Kong) Provides a borderless platform through networking events and programs in Hong Kong. Greenpro Financial Consulting (Shenzhen) Limited (formerly known as Greenpro Synergy Network (Shenzhen) Limited) (China) Provides corporate advisory services such as tax planning, cross-border listing solution and financial consulting for clients in China. 5 Asia UBS Global Limited (Hong Kong) Provides business advisory services with a focus on Hong Kong company formation advisory and company secretarial services, such as tax planning, bookkeeping and financial review. It focuses on Hong Kong clients. Asia UBS Global Limited (Belize) Provides business advisory services with a main focus on offshore company formation advisory and company secretarial services, such as tax planning, bookkeeping and financial re