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20-F: FY2024 Annual Report

SEC ·  Oct 26, 2024 04:08

Summary by Futu AI

Big Tree Cloud Holdings Limited reported revenue of $7.3 million for fiscal year 2024, representing a 16.4% increase from $6.3 million in FY2023. Revenue from feminine hygiene products, the company's core business, grew significantly from $3.8 million to $5.2 million, driven by expanded product offerings and enhanced brand loyalty. Gross profit increased to $4.9 million with improved margin of 66.9%.The company recorded net income of $640,485 for FY2024, compared to $279,565 in FY2023. Operating expenses increased to $4.9 million from $3.0 million, primarily due to higher professional service expenses related to the public offering and increased payroll costs. The company maintained strong market presence with products sold in over 11,400 offline stores across China.In August 2024, Big Tree Cloud sold its manufacturing facilities to become an asset-light company while securing "make-per-order" manufacturing agreements. The company also expanded its Big Tree Cloud convenience store network to 89 licensed stores across 20 cities in China. Management expects continued growth through product innovation, brand development and distribution channel expansion.
Big Tree Cloud Holdings Limited reported revenue of $7.3 million for fiscal year 2024, representing a 16.4% increase from $6.3 million in FY2023. Revenue from feminine hygiene products, the company's core business, grew significantly from $3.8 million to $5.2 million, driven by expanded product offerings and enhanced brand loyalty. Gross profit increased to $4.9 million with improved margin of 66.9%.The company recorded net income of $640,485 for FY2024, compared to $279,565 in FY2023. Operating expenses increased to $4.9 million from $3.0 million, primarily due to higher professional service expenses related to the public offering and increased payroll costs. The company maintained strong market presence with products sold in over 11,400 offline stores across China.In August 2024, Big Tree Cloud sold its manufacturing facilities to become an asset-light company while securing "make-per-order" manufacturing agreements. The company also expanded its Big Tree Cloud convenience store network to 89 licensed stores across 20 cities in China. Management expects continued growth through product innovation, brand development and distribution channel expansion.

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