U-BX Technology Ltd. reported financial results for fiscal year 2024, with total revenue decreasing 45% to $51.6 million from $94.3 million in FY2023. The decline was primarily driven by a 47% decrease in digital promotion services revenue to $37.8 million. Risk assessment services revenue fell 43% to $8.7 million, while value-added bundled benefits revenue dropped 28% to $5.1 million.The company recorded a net loss of $748,542 for FY2024, compared to a net income of $205,911 in FY2023. Gross profit decreased to $694,322 from $1.6 million, with gross margin declining to 1.3% from 1.7%. General and administrative expenses increased 7% to $1.6 million, mainly due to higher exchange fees and impairment losses on current assets.As of June 30, 2024, U-BX had cash of $4.8 million, up from $1.3 million at the end of FY2023. The company completed its initial public offering in April 2024, raising net proceeds of approximately $8.8 million. Management continues to focus on expanding its technology capabilities and service scope while strengthening partnerships with insurance carriers and intermediaries despite current market headwinds.

U-BX Technology Ltd. reported financial results for fiscal year 2024, with total revenue decreasing 45% to $51.6 million from $94.3 million in FY2023. The decline was primarily driven by a 47% decrease in digital promotion services revenue to $37.8 million. Risk assessment services revenue fell 43% to $8.7 million, while value-added bundled benefits revenue dropped 28% to $5.1 million.The company recorded a net loss of $748,542 for FY2024, compared to a net income of $205,911 in FY2023. Gross profit decreased to $694,322 from $1.6 million, with gross margin declining to 1.3% from 1.7%. General and administrative expenses increased 7% to $1.6 million, mainly due to higher exchange fees and impairment losses on current assets.As of June 30, 2024, U-BX had cash of $4.8 million, up from $1.3 million at the end of FY2023. The company completed its initial public offering in April 2024, raising net proceeds of approximately $8.8 million. Management continues to focus on expanding its technology capabilities and service scope while strengthening partnerships with insurance carriers and intermediaries despite current market headwinds.