AsiaFIN Holdings Corp. Announces First Quarter 2025 Financial Results

About this update from Asiafin Holdings Corp.

[{"type":"text","content":"KUALA LUMPUR, MALAYSIA / ACCESS Newswire / May 13, 2025 / AsiaFIN Holdings Corp., (OTCQB:ASFH), a leading fintech financial ecosystem enabler, today announced financial results for the first quarter of 2025, the period ended March 31, 2025.","length":240,"tagName":"p"},{"type":"text","content":"Financial Results for the Quarter Ended March 31, 2025:","length":55,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Cash and cash equivalents were approximately $1.26 million as of March 31, 2025 as compared to approximately $1.31 million as of December 31, 2024.","length":147,"tagName":"p"}]},{"val":[{"type":"text","content":"Revenue for the quarter was approximately $621,000, an increase of 19.5% compared to $520,000 in the first quarter last year.","length":125,"tagName":"p"}]},{"val":[{"type":"text","content":"Gross profit was a negative $6,900, or negative 1.1% gross margin, compared to gross profit of $22,000, or 4.2% gross margin, in the first quarter last year. The negative gross margin reflects costs associated with recent expansion initiatives as the team is expanded to support expected future growth.","length":302,"tagName":"p"}]},{"val":[{"type":"text","content":"Selling, general and administrative expenses were approximately $486,000, an increase of 64.2% compared to $296,000 in the first quarter last year. The increase in general and administrative expenses was primarily attributable to higher salary expenses, as the Company recruited more employees to support business expansion initiatives, as well as an increase in credit loss allowance, due to challenges in collecting receivables from debtors.","length":443,"tagName":"p"}]},{"val":[{"type":"text","content":"Net loss was approximately $489,000 an increase of 73.4% compared to a loss of approximately $282,000 for the first quarter of 2024.","length":132,"tagName":"p"}]},{"val":[{"type":"text","content":"Net loss attributable to common shareholders was approximately $482,000 an increase of 73.5% compared to a loss of approximately $278,000 for the first quarter of 2024.","length":168,"tagName":"p"}]},{"val":[{"type":"text","content":"Total comprehensive loss was approximately $468,000, or $(0.01) per share, an increase of 43.1% compared to a loss of approximately $327,000, or $(0.00) for the first quarter of 2024.","length":183,"tagName":"p"}]},{"va...

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