Business
Golden Heaven Group Holdings Ltd. Announces Financial Results for the First Half of Fiscal Year 2023
NANPING, China, Aug. 3, 2023 /PRNewswire/ -- Golden Heaven Group Holdings Ltd. ("Golden Heaven" or the "Company") (Nasdaq: GDHG) is an offshore holding
About this update from Golden Heaven Group Holdings Ltd.
[{"type":"text","content":"NANPING, China, Aug. 3, 2023 /PRNewswire/ -- Golden Heaven Group Holdings Ltd. (\"Golden Heaven\" or the \"Company\") (Nasdaq: GDHG) is an offshore holding company incorporated in the Cayman Islands with no material operations of its own. Through its Chinese operating entities, the Company manages and operates six properties consisting of amusement parks, water parks and complementary recreational facilities. The Company today announced its unaudited financial results for the six months ended March 31, 2023 (\"First Half 2023\").\nFirst Half 2023 Financial Highlights\n(RMB)\nSix months ended March 31, 2023\nSix months ended March 31, 2022\nChange (%)\nRevenue\n140,101,486\n132,119,961\n6.0\n%\nGross profit\n100,991,984\n93,955,044\n7.5\n%\nGross margin\n71.37\n%\n70.35\n%\n1.02\n*pp\nIncome from operations\n72,854,273\n65,575,322\n11.1\n%\nNet income\n51,785,658\n46,254,030\n12.0\n%\nEarnings per share\n1.05\n0.45\n135.1\n%\n* Notes: pp represents percentage points\nRevenue was RMB140.1 million in the First Half 2023, an increase of 6.0% from RMB132.1 million in the same period of last year.Gross profit was RMB101.0 million in the First Half 2023, an increase of 7.5% from RMB94.0 million in the same period of last year. Gross margin was 71.37% in the First Half 2023, an increase of 1.02 percentage points from 70.35% in the same period of last year.Income from operations was RMB72.9 million in the First Half 2023, an increase of 11.1% from RMB65.6 million in the same period of last year.Net income was RMB51.8 million in the First Half 2023, an increase of 12.0% from RMB46.3 million in the same period of last year.Earnings per share was RMB1.05 in the First Half 2023, an increase of 135.1% from RMB0.45 in the same period of last year.First Half 2023 Financial Results\nRevenue\n (USD)\nSix months ended March 31, 2023\nSix months ended March 31, 2022\nChange\nChange (%)\nSales of in-park recreation\n$\n19,563,330\n$\n20,222,318\n(658,988)\n(3.26)\n%\nRental income\n497,882\n534,616\n(36,734)\n(6.87)\n%\nTotal revenue\n$\n20,061,212\n$\n20,756,934\n(695,722)\n(3.35)\n%\nGiven the substantial appreciation of the United States dollar during the previous fiscal year, our financial results, when represented in USD, do not adequately capture the complete financial performance of the Company. Consequently, in order to provide a more compre...