EUBG Entrepreneur Universe Bright Group (QB)

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of

the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): November 13, 2024

 

ENTREPRENEUR UNIVERSE BRIGHT GROUP

(Exact name of registrant as specified in our charter)

 

Nevada		000-56305		90-1734867
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

Suite 907, Saigao City Plaza Building 2, No. 170, Weiyang Road, Xi’an, China
(Address of Principal Executive Offices)		(Zip Code)

 

+86-029-86100263

(Registrant’s telephone number, including area code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
None

 

Securities registered pursuant to Section 12(g) of the Act: Common Stock, par value $0.0001 per share  

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

Item 2.02 Results of Operations and Financial Condition.

 

On November 14, 2024 (China Time), Entrepreneur Universe Bright Group (the “Company”) issued a press release setting forth certain financial and operational information for its third quarter ended September 30, 2024. The full text of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

 

Item 7.01 Regulation FD Disclosure.

 

The information under Item 2.02 above is incorporated herein by reference.

 

The information reported under Items 2.02 and 7.01 in this Current Report on Form 8-K, including Exhibit 99.1, is being “furnished” and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.

 

Item 9.01. Financial Statement and Exhibits

 

(d) Exhibits

 

Exhibit No.		Description
99.1		Press Release dated November 14, 2024 (China Time)
104		Cover Page Interactive Data File (formatted in Inline XBRL)

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on our behalf by the undersigned hereunto duly authorized.

 

	Entrepreneur Universe Bright Group
	By:	/s/ Guolin Tao
		Guolin Tao
		Chief Executive Officer and Chief Financial Office

Dated: November 14, 2024

 

 

Exhibit 99.1

 

Press Release

 

Entrepreneur Universe Bright Group Reports Q3 2024 Financial Results

 

Xi’an, China, Nov. 14, 2024 -- Entrepreneur Universe Bright Group (“EUBG” or the “Company”) has announced its unaudited financial results for the third quarter ended September 30, 2024. The company reported total revenue of $1,670,203, a decrease of approximately 2.6% from $1,714,786 in the same period last year. Despite challenges from the macroeconomic environment, the Company maintained relatively stable business performance through its diversified consultancy services.

 

During this quarter, on or about September 12, 2024, the Company paid a special one-time cash dividend totaling $2,211,536, demonstrating its commitment to creating maximum value for its shareholders and showcasing financial stability.

 

Financial Highlights: 

•       Total Revenue: $1,670,203, representing an approximately 2.6% decline from $1,714,786 in Q3 2023.

•       Gross Profit: $1,490,851, a decrease of approximately 4.1% year-over-year, primarily due to increased costs from the introduction of a new service provider and the salary adjustments for certain employees.

•       Net Income: $703,615, a decrease of approximately 5.1% compared to $741,170 in Q3 2023.

•       Cash and Cash Equivalents: Following the special dividend payment, the company held $8,275,329 in cash and cash equivalents at the end of the quarter, indicating a solid financial position.

 

Business and Market Update: 

Amid global and mainland China economic uncertainties, the Company sustained its operations by optimizing costs and providing diversified services, including consultancy support for the live-streaming sector.

 

The company management stated: 

“In a challenging market, we continue to deliver high-quality consultancy services and adapt our strategies to meet the dynamic needs of the industry.”

 

Outlook: 

EUBG will remain focused on enhancing operational efficiency and expanding its client base to strengthen its market adaptability and achieve sustainable operational performance in the future.

 

 

About ENTREPRENEUR UNIVERSE BRIGHT GROUP

 

ENTREPRENEUR UNIVERSE BRIGHT GROUP is a Nevada holding company and conducts all of its operations through its wholly-owned subsidiaries in Hong Kong and in the People’s Republic of China. The China subsidiary mainly engages in consulting, sourcing and marketing services in China with support from its Hong Kong subsidiary. The Company is dedicated to providing business consulting services covering multiple markets across China. For more information about the Company, please visit: http://www.eubggroup.com/.

 

Safe Harbor Statement

 

This press release contains projections and “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995 related to the Company’s business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may, “will, “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements.  Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following:  the Company’s goals and strategies; the Company’s future business development; financial condition and results of operations; product and service demand and acceptance; reputation and brand; the impact of competition and pricing; changes in technology; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC.  For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

 

For more information, please contact:

 

The Company:

Jianyong Li

Email: lijianyong@eubggroup.com

Phone: +86-(029) 86100263

 

 

 

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