EShallGo Inc. Files 20-F, Reports $14.6B Assets
Ticker: EHGO · Form: 20-F · Filed: Jul 31, 2024 · CIK: 1879754
Sentiment: neutral
Topics: annual-report, financials, international
TL;DR
EShallGo Inc. 20-F filed: $14.6B assets, $5.8M paid-in capital. FY24 update.
AI Summary
EShallGo Inc. filed its 20-F report for the period ending March 31, 2024. The company, based in Shanghai, China, operates in the services-equipment rental & leasing sector. Key financial figures include total assets of $14.629 billion and additional paid-in capital of $5.856 million for the fiscal year 2024.
Why It Matters
This filing provides a crucial update on EShallGo Inc.'s financial position and operational status for investors and analysts tracking the company's performance in the equipment leasing market.
Risk Assessment
Risk Level: medium — The filing is a standard annual report, but the company's international operations and specific financial details could present medium-level risks for investors unfamiliar with the sector or region.
Key Numbers
- $14.629B — Total Assets (Reported for the fiscal year ending March 31, 2024.)
- $5.856M — Additional Paid-In Capital (Reported for the fiscal year ending March 31, 2024.)
- 0331 — Fiscal Year End (Indicates the end of the company's financial reporting year.)
Key Players & Entities
- EShallGo Inc. (company) — Filer of the 20-F report
- 0001879754 (company) — Central Index Key for EShallGo Inc.
- QingdaoLixingTechnologyCo.LtdMember (company) — Related party member
- 12F BLOCK 16, NO.1000 JINHAI ROAD, PUDONG NEW DISTRICT, SHANGHAI (location) — Business and mailing address
FAQ
What is the primary business of EShallGo Inc.?
EShallGo Inc. operates in the SERVICES-EQUIPMENT RENTAL & LEASING, NEC sector, as indicated by its Standard Industrial Classification code [7359].
What was EShallGo Inc.'s total assets as of March 31, 2024?
EShallGo Inc.'s total assets were $14,629,000 as of March 31, 2024.
What is the company's fiscal year end?
The company's fiscal year ends on March 31 (0331).
Where is EShallGo Inc. located?
EShallGo Inc.'s business and mailing address is located at 12F BLOCK 16, NO.1000 JINHAI ROAD, PUDONG NEW DISTRICT, SHANGHAI, F4, 201206.
Are there any related party members mentioned in the filing?
Yes, 'ehgo:QingdaoLixingTechnologyCo.LtdMember' is listed as a related party member.
Filing Stats: 4,532 words · 18 min read · ~15 pages · Grade level 11.4 · Accepted 2024-07-31 16:33:00
Key Financial Figures
- $0.0001 — ed Class A ordinary shares, par value $0.0001 per share EHGO Nasdaq Capital Marke
- $1 — ranslated at RMB7.2221 and RMB6.8680 to $1.00, respectively. The shareholders' equ
Filing Documents
- tmb-20240331x20f.htm (20-F) — 5128KB
- tmb-20240331xex2d2.htm (EX-2.2) — 93KB
- tmb-20240331xex8d1.htm (EX-8.1) — 42KB
- tmb-20240331xex11d2.htm (EX-11.2) — 54KB
- tmb-20240331xex12d1.htm (EX-12.1) — 13KB
- tmb-20240331xex12d2.htm (EX-12.2) — 13KB
- tmb-20240331xex13d1.htm (EX-13.1) — 10KB
- tmb-20240331xex13d2.htm (EX-13.2) — 7KB
- tmb-20240331x20f001.jpg (GRAPHIC) — 34KB
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- tmb-20240331x20f027.jpg (GRAPHIC) — 5KB
- 0001410578-24-001137.txt ( ) — 17898KB
- tmb-20240331.xsd (EX-101.SCH) — 85KB
- tmb-20240331_cal.xml (EX-101.CAL) — 105KB
- tmb-20240331_def.xml (EX-101.DEF) — 345KB
- tmb-20240331_lab.xml (EX-101.LAB) — 645KB
- tmb-20240331_pre.xml (EX-101.PRE) — 600KB
- tmb-20240331x20f_htm.xml (XML) — 3102KB
Item 18
Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Securities Exchange Act of 1934). Yes No (APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS) Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes No Table of Contents Table of Contents Page PART I 1 ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 1 ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE 1 ITEM 3. KEY INFORMATION 1 ITEM 4. INFORMATION ON THE COMPANY 55 ITEM 4A. UNRESOLVED STAFF COMMENTS 95 ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 96 ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 114 ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 123 ITEM 8. FINANCIAL INFORMATION 126 ITEM 9. THE OFFER AND LISTING 127 ITEM 10. ADDITIONAL INFORMATION 128 ITEM 11.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 143 ITEM 12.
DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES
DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 143 PART II 143 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 143 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 143 ITEM 15.
CONTROLS AND PROCEDURES
CONTROLS AND PROCEDURES 144 ITEM 16 [Reserved] 144 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 144 ITEM 16B. CODE OF ETHICS 145 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 145 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 145 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 145 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 145 ITEM 16G. CORPORATE GOVERNANCE 145 ITEM 16H. MINE SAFETY DISCLOSURE 146 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 146 ITEM 16J INSIDER TRADING POLICIES 146 ITEM 16K CYBERSECURITY 147 PART III 148 ITEM 17.
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS 148 ITEM 18.
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS 148 ITEM 19. EXHIBITS 148 i Table of Contents Conventions Used in this Annual Report Unless otherwise indicated or the context requires otherwise, references in this annual report ("Annual Report"): "PRC" refers to the People's Republic of China. "RMB" refers to Renminbi, the official currency, i.e., Yuan, in the PRC. "JPY" refers to Japanese Yen, the official currency in Japan. "Eshallgo" refers to Eshallgo Inc, a Cayman Islands exempted company; "Junzhang HK" refers to Junzhang Monarch Ltd., a Hong Kong SAR company; "EShallGo Shanghai" or "EShallGo WFOE" refers to Shanghai Eshallgo Enterprise Development (Group) Co., Ltd., a PRC company that is a wholly-owned subsidiary of Junzhang HK; "Junzhang Shanghai" refers to Junzhang Digital Technology (Shanghai) Co., Ltd., the variable interest entity ("VIE") in the PRC company contractually related to EShallGo WFOE; its registered address is 12th Floor, Building 16, Jinling Capital, 1000 Jinhai Road, Pudong New Area, Shanghai, China, and the actual business address is Room 1206A, Building 3, No. 1501 Jinsui Road, Pudong New District, Shanghai, China; "Junzhang Beijing" refers to Junzhang Digital Technology (Beijing) Co., Ltd., the VIE in the PRC contractually related to EShallGo WFOE. "VIE" refers to variable interest entity. "VIEs" refers to the variable interest entities, Junzhang Shanghai and Junzhang Beijing. Junzhang Digital Technology (Suzhou) Co., Ltd. is a PRC company and a 55% owned subsidiary of EShallGo WFOE. Junzhang Digital Technology (Changzhou) Co., Ltd. is a PRC company and a 55% owned subsidiary of EShallGo WFOE. Zibo ESHALLGO Information Technology Co., Ltd. is a PRC company and a 55% owned subsidiary of EShallGo WFOE. Shanghai Lixin Office Equipment Co., Ltd. is a PRC company and a 100% owned subsidiary of Junzhang Shanghai. ESHALLGO Office Supplies (Shanghai) Co., Ltd. is a PRC company and a 55% owned subsidiary of Junzhang Shanghai. Its registered addre
IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS
ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable for annual reports on Form 20-F.
OFFER STATISTICS AND EXPECTED TIMETABLE
ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable for annual reports on Form 20-F.
KEY INFORMATION
ITEM 3. KEY INFORMATION A. Selected Financial Data Summary of Financial Position and Cash Flows of Eshallgo, its VIEs and the VIE subsidiaries The consolidated financial statements included in this annual report reflect financial position and cash flows of the registrant, Cayman Islands incorporated parent company, ESHALLGO INC, together with those of its subsidiaries, the VIE and the VIE subsidiaries, on a consolidated basis. The tables below are condensed consolidating schedules summarizing separately the financial position and cash flows of the registrant, Cayman Islands incorporated parent company, ESHALLGO INC ("Parent Company" in the tables below), and its subsidiaries, together with eliminating adjustments: SELECTED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS For the Year Ended March 31, 2024 ESHALLGO (Cayman Subsidiary WFOE Consolidated Islands) (Hong Kong) (PRC) VIE (PRC) Eliminations Total Revenues $ — $ — $ — $ 16,963,957 $ — $ 16,963,957 Service income from VIE and VIE's subsidiaries $ — $ — $ 13,497 $ — $ (13,497) $ — Income for equity method investment $ 8,652 $ 8,652 $ — $ — $ (17,304) $ — Benefits through VIE and VIE's subsidiaries $ — $ — $ — $ — $ — $ — Consulting fee in relation to services rendered by WFOE $ — $ — $ — $ (13,497) $ 13,497 $ — Net income attributable to Eshallgo Inc $ 8,652 $ 8,652 $ 8,652 $ — $ (17,304) $ 8,652 Comprehensive income (loss) attributable to Eshallgo Inc $ 8,652 $ (16,012) $ (16,012) $ (501,925) $ 7,360 $ (517,937) For the Year Ended March 31, 2023 ESHALLGO (Cayman Subsidiary WFOE Consolidated Islands) (Hong Kong) (PRC) VIE (PRC) Eliminations Total Revenues $ — $ — $ — $ 18,425,312 $ — $ 18,425,312 Service income from VIE and VIE's subsidiaries $ — $ — $ 484,866 $ — $ (484,866) $ — Income for e