Business
Lichen China Limited Announced Financial Results for Fiscal Year 2023
XIAMEN, China, April 5, 2024 /PRNewswire/ -- Lichen China Limited (the "Company" or "Lichen China")(NASDAQ: LICN), a dedicated financial and taxation service
About this update from Lichen International Limited
[{"type":"text","content":"XIAMEN, China, April 5, 2024 /PRNewswire/ -- Lichen China Limited (the \"Company\" or \"Lichen China\")(NASDAQ: LICN), a dedicated financial and taxation service provider in China, today announced its financial results for the fiscal year ended December 31, 2023.\n\nFY 2023 Financial Highlights:\nRevenue increased approximately $5.95 million or 17.61% to approximately $39.76 million for the year ended December 31, 2023, as compared with approximately $33.81 million for the fiscal year ended December 31, 2022. The increase was primarily due to continuous expansion of the branding and business that brought new clients and orders.Gross profit was approximately $24.32 million for the fiscal year ended December 31, 2023, representing an increase of approximately $4.12 million or 20.44%, compared with approximately $20.19 million for the fiscal year ended December 31, 2022. The gross margin improved 1.44% from 59.73% for fiscal year 2022 to 61.17% for fiscal year 2023.The net income increased by approximately $0.52 million, or 6.65%, to approximately $8.34 million for the year ended December 31, 2023, from approximately $7.82 million for the year ended December 31, 2022.Mr. Li Ya, Chairman of Lichen China, said, \"In 2023, as the impact of the pandemic gradually dissipated, our Company's focus shifted towards deepening our financial and taxation solution services. Thanks to our dedicated team, superior services, and innovative strategies, we successfully achieved steady growth in performance. This recognition from the market not only validates our efforts but also demonstrates the cohesion and execution capabilities of our team.\nLooking ahead to 2024, we have decided to take the bold step of entering the international market, expanding into broader horizons. Meanwhile, we have also introduced our innovative Lichen AI Robot, a significant milestone in our technological innovation. Leveraging advanced artificial intelligence technology, the Lichen AI robot will further enhance our service quality and efficiency. Apart from venturing into the international market and launching the AI robot, we will also continue to keep an eye on merger and acquisition opportunities. Through mergers and acquisitions, we aim to further expand our business scope, strengthen our overall strength, and lay a firmer foundation for future growth. 2024 will be ...