URUMQI, China, May 1, 2023
/PRNewswire/ -- Chanson International Holding (Nasdaq: CHSN) (the
"Company" or "Chanson"), a provider of bakery, seasonal, and
beverage products through its chain stores in China and the United
States, today announced its financial results for the fiscal
year ended December 31, 2022.
Mr. Gang Li, Chairman of the Board of Directors and Chief
Executive Officer of the Company, commented, "In fiscal year 2022,
we strove to build and maintain our business resilience to offset
the negative impact of the challenging macroeconomic
environment and the resurgence of COVID-19 in China (the "2022
Outbreak"). Therefore, we shifted our focus to our United
States stores and achieved a remarkable year-over-over revenue
growth of 99.6% from them. As a result of our strategic expansion
plans, including the opening of new stores in New York City, we generated significant
revenue growth from bakery products, beverage products, and eat-in
services. Our recent listing on Nasdaq in March 2023 represented a significant milestone
for us and a testament to all the hard work and efforts of our
dedicated team. Looking ahead, we remain committed to expanding our
product selection, opening more stores across the United States, and enhancing our brand
awareness to create more value for our shareholders. We are
grateful for the trust our customers have placed in us and
will continue to develop new products, provide high-quality
services and improve customer satisfaction. We believe our
capabilities and experience position our company well
for long-term growth, and we are confident that our
continued growth and expansion will result in greater success in
the future."
Fiscal Year 2022 Financial Results
Revenue
Total revenue decreased by 9.7% to $13.3 million in
fiscal year 2022, from $14.7
million in fiscal year 2021. The decrease in the Company's
revenue was due to lower revenue from its stores in China, which was partially offset by the
increased revenue from its United States stores.
China Stores
- Revenue from China stores decreased by 25.8% to $9.5 million in fiscal year 2022 from
$12.8 million in fiscal year 2021.
The decrease was primarily due to decreased revenue from bakery
products as well as other products.
- Revenue from bakery products decreased by 25.6% to $8.7 million in fiscal year 2022 from
$11.7 million in fiscal year 2021.
The decrease was due to impact by the 2022 Outbreak, which
adversely affected the operations of the China stores and the
production of the central factory starting from August 10, 2022. Additionally, all the China
stores and the central factory were closed between October 5, 2022 and November 30, 2022, during which the China stores
only generated limited online sales and group sales.
- Revenue from other products decreased by 28.6% to $0.8 million in fiscal year 2022 from
$1.1 million in fiscal year 2021,
among which, revenue from seasonal products decreased by 28.6% to
$0.7 million in fiscal year 2022 from
$1.0 million in fiscal year 2021, and
revenue from beverage products decreased by 28.9% to $0.1 million in fiscal year 2022 from
$0.1 million in fiscal year 2021. The
impact of the 2022 Outbreak, as mentioned above, contributed to the
decline in revenue from these products.
United States Stores
- Revenue from United States
stores increased by 99.6% to $3.8
million in fiscal year 2022 from $1.9
million in fiscal year 2021. The increase was due to
increased revenue from beverage products, bakery products, and
eat-in services.
- Revenue from bakery products increased by 29.3% to $0.6 million in fiscal year 2022 from
$0.5 million in fiscal year 2021. The
increase was primarily due to the opening of Chanson 355 Greenwich
LLC ("Chanson Greenwich") in December
2021, a new store that generated an additional $0.25 million in revenue. This increase was
partially offset by a decrease of $0.11
million in revenue from Chanson 23rd Street LLC
("Chanson 23rd Street") due to increased competition
from rival bakery brands that recently opened new stores in
New York City, resulting in
customers having more options and affecting sales of Chanson
23rd Street's bakery products.
- Revenue from beverage products increased by 104.8%, to
$2.0 million in fiscal year 2022 from
$1.0 million in fiscal year 2021. The
increase was mainly due to the $0.6
million increase generated by the newly opened Chanson
Greenwich and the $0.4 million
increase generated by Chanson 23rd Street. Chanson
23rd Street's cocktail bar launched several new types of
cocktail products with a variety of flavors and styles, which
became popular among customers and the cocktail bar was often fully
booked by reservation during weekends. Meanwhile, Chanson
23rd Street managed to increase the prices of its
cocktail products, which resulted in higher revenue.
- Revenue from eat-in services increased by 166.6%, reaching
$1.1 million in fiscal year 2022 from
$0.4 million in fiscal year 2021. The
increase was mainly due to the addition of the new store, Chanson
Greenwich, which generated $0.8
million in increased revenue from eat-in services.
Gross Profit and Gross Margin
Gross profit decreased by 11.9%, to $6.1
million in fiscal year 2022 from $6.9
million in fiscal year 2021, primarily due to the overall
decrease in revenue. Gross margin also decreased slightly by 1.2
percentage points to 46.0% in fiscal year 2022 from 47.2% in fiscal
year 2021.
Operating Expenses
Operating costs were $7.5 million in fiscal year 2022,
compared to $7.4 million in
fiscal year 2021.
- Selling expenses decreased by 10.4%, to $3.7 million in fiscal year 2022 from
$4.1 million in fiscal year 2021. The
decrease in selling expenses was primarily due to the decrease of
$0.6 million from China stores, as
the Company's business operation was adversely affected by the 2022
Outbreak, partially offset by a $0.2
million increase in selling expenses incurred by the newly
opened Chanson Greenwich.
- General and administrative expenses increased by 18.3%, to
$3.8 million in fiscal year 2022 from
$3.2 million in fiscal year 2021. The
increase was primarily due to higher general and administrative
expenses of $0.6 million related to
stores in the United States,
including full-year operating costs of the newly opened Chanson
Greenwich as well as the higher rental expenses for Chanson 1293
3rd Ave LLC and Chanson 2040 Broadway LLC stores during
the renovation period. The increase was partially offset by lower
general and administrative expenses of $42,621 related to stores in China, where business operations were
adversely affected by the 2022 Outbreak.
Net Income (Loss)
Net loss in fiscal year 2022 was $1.3 million, compared to
net income of $0.5 million in
fiscal year 2021.
Basic and Diluted Earnings per Share
Basic and diluted loss per share in fiscal year
2022 was $0.14, compared to basic and diluted earnings
per share of $0.06 in fiscal year 2021.
Balance Sheet
As of December 31, 2022, the Company had cash of $2.9
million, compared to $3.9 million as of December 31,
2021.
Cash Flow
Net cash provided by operating activities in fiscal year
2022 was $0.6 million, compared to $1.8 million in fiscal year 2021.
Net cash used in investing activities in fiscal year 2022
was $0.9 million, compared to $2.0 million in fiscal
year 2021.
Net cash provided by financing activities in fiscal year
2022 was $9,929, compared to net cash used in financing
activities of $178,240 in fiscal
year 2021.
Recent Development
On April 3, 2023, the Company
completed its initial public offering (the "Offering") of 3,390,000
Class A ordinary shares at a public offering price of US$4.00 per Class A ordinary share. The Class A
ordinary shares began trading on the Nasdaq Capital Market on
March 30, 2023 under the ticker
symbol "CHSN."
About Chanson International Holding
Founded in 2009, Chanson International Holding is a provider of
bakery, seasonal, and beverage products through its chain stores in
China and the United States. Headquartered in Urumqi,
China, Chanson directly operates stores in Xinjiang, China and
New York, United States. Chanson currently manages 33
chain stores under the "George●Chanson" brand in Xinjiang and three
stores in New York City while
selling on digital platforms and third-party online food ordering
platforms. Chanson offers not only packaged bakery products but
also made-in-store pastries and eat-in services, serving freshly
prepared bakery products and extensive beverage products. Chanson
aims to make healthy, nutritious, and ready-to-eat food through
advanced facilities based on in-depth industry research, while
creating a comfortable and distinguishable store environment for
customers. Chanson's dedicated and highly-experienced product
development teams constantly create new products that reflect
market trends to meet customer demand. For more information, please
visit the Company's
website: http://ir.chanson-international.net/.
Forward-Looking Statements
Certain statements in this announcement are forward-looking
statements. These forward-looking statements involve
known and unknown risks and uncertainties and are based on the
Company's current expectations and projections about future events
that the Company believes may affect its financial condition,
results of operations, business strategy and financial
needs. Investors can identify these forward-looking statements
by words or phrases such as "approximates," "believes," "hopes,"
"expects," "anticipates," "estimates," "projects," "intends,"
"plans," "will," "would," "should," "could," "may" or other similar
expressions. The Company undertakes no obligation to update or
revise publicly any forward-looking statements to reflect
subsequent occurring events or circumstances, or changes in its
expectations, except as may be required by law. Although the
Company believes that the expectations expressed in these
forward-looking statements are reasonable, it cannot assure you
that such expectations will turn out to be correct, and the Company
cautions investors that actual results may differ materially from
the anticipated results and encourages investors to review other
factors that may affect its future results in the Company's
registration statement and other filings with the U.S. Securities
and Exchange Commission.
For investor and media inquiries, please contact:
Chanson International Holding
Investor Relations Department
Email: IR@chansoninternational.com
Ascent Investors Relations LLC
Tina Xiao
Phone: +1 917 609-0333
Email: tina.xiao@ascent-ir.com
|
CHANSON
INTERNATIONAL HOLDING AND SUBSIDIARIES
|
|
CONSOLIDATED BALANCE
SHEETS
|
|
|
|
December 31,
|
|
|
December 31,
|
|
|
|
2022
|
|
|
2021
|
|
|
ASSETS
|
|
|
|
|
|
|
|
CURRENT
ASSETS:
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$
|
2,915,470
|
|
|
$
|
3,896,812
|
|
|
Accounts
receivable
|
|
|
1,260,453
|
|
|
|
1,134,532
|
|
|
Inventories
|
|
|
693,506
|
|
|
|
526,862
|
|
|
Deferred offering
costs
|
|
|
763,611
|
|
|
|
749,605
|
|
|
Prepaid expenses and
other current assets
|
|
|
833,238
|
|
|
|
438,045
|
|
|
TOTAL CURRENT
ASSETS
|
|
|
6,466,278
|
|
|
|
6,745,856
|
|
|
|
|
|
|
|
|
|
|
|
Operating lease
right-of-use assets
|
|
|
13,921,825
|
|
|
|
11,644,192
|
|
|
Property and equipment,
net
|
|
|
5,871,775
|
|
|
|
5,447,718
|
|
|
Long term security
deposits
|
|
|
958,320
|
|
|
|
1,066,027
|
|
|
Long term prepaid
expenses
|
|
|
110,988
|
|
|
|
92,301
|
|
|
TOTAL ASSETS
|
|
$
|
27,329,186
|
|
|
$
|
24,996,094
|
|
|
|
|
|
|
|
|
|
|
|
CURRENT
LIABILITIES:
|
|
|
|
|
|
|
|
|
|
Short-term bank
loans
|
|
$
|
434,959
|
|
|
$
|
1,559,314
|
|
|
Accounts
payable
|
|
|
1,424,766
|
|
|
|
1,273,313
|
|
|
Due to a related
party
|
|
|
1,798,605
|
|
|
|
721,921
|
|
|
Taxes
payable
|
|
|
130,727
|
|
|
|
30,839
|
|
|
Deferred
revenue
|
|
|
6,958,160
|
|
|
|
6,051,683
|
|
|
Operating lease
liabilities, current
|
|
|
1,770,398
|
|
|
|
1,622,642
|
|
|
Other current
liabilities
|
|
|
1,014,452
|
|
|
|
1,055,199
|
|
|
TOTAL CURRENT
LIABILITIES
|
|
|
13,532,067
|
|
|
|
12,314,911
|
|
|
|
|
|
|
|
|
|
|
|
Operating lease
liabilities, non-current
|
|
|
12,620,070
|
|
|
|
9,846,224
|
|
|
TOTAL
LIABILITIES
|
|
|
26,152,137
|
|
|
|
22,161,135
|
|
|
|
|
|
|
|
|
|
|
|
COMMITMENTS AND
CONTINGENCIES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SHAREHOLDERS'
EQUITY
|
|
|
|
|
|
|
|
|
|
Ordinary shares, $0.001
par value, 50,000,000 shares authorized; 9,000,000 shares
issued and outstanding as of December 31, 2022 and 2021,
respectively:
|
|
|
|
|
|
|
|
|
|
Class A ordinary share,
$0.001 par value, 44,000,000 shares authorized; 3,060,000
shares issued and outstanding as of December 31, 2022 and 2021,
respectively
|
|
|
3,060
|
|
|
|
3,060
|
|
|
Class B ordinary share,
$0.001 par value, 6,000,000 shares authorized; 5,940,000
shares issued and outstanding as of December 31, 2022 and 2021,
respectively
|
|
|
5,940
|
|
|
|
5,940
|
|
|
Additional paid-in
capital
|
|
|
869,400
|
|
|
|
869,400
|
|
|
Statutory
reserve
|
|
|
447,231
|
|
|
|
447,231
|
|
|
Retained earnings
(Accumulated deficit)
|
|
|
(183,842)
|
|
|
|
1,104,363
|
|
|
Accumulated other
comprehensive income
|
|
|
35,260
|
|
|
|
404,965
|
|
|
TOTAL SHAREHOLDERS'
EQUITY
|
|
|
1,177,049
|
|
|
|
2,834,959
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL LIABILITIES
AND SHAREHOLDERS' EQUITY
|
|
$
|
27,329,186
|
|
|
$
|
24,996,094
|
|
|
CHANSON
INTERNATIONAL HOLDING AND SUBSIDIARIES
|
|
CONSOLIDATED
STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(LOSS)
|
|
|
|
For the Years Ended
December 31,
|
|
|
|
2022
|
|
|
2021
|
|
|
2020
|
|
|
|
|
|
|
|
|
|
|
|
|
REVENUE
|
|
$
|
13,272,075
|
|
|
$
|
14,690,295
|
|
|
$
|
10,313,512
|
|
|
COST OF
REVENUE
|
|
|
7,169,404
|
|
|
|
7,759,872
|
|
|
|
5,164,178
|
|
|
GROSS PROFIT
|
|
|
6,102,671
|
|
|
|
6,930,423
|
|
|
|
5,149,334
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATING
EXPENSES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling
expenses
|
|
|
3,697,909
|
|
|
|
4,126,126
|
|
|
|
2,947,088
|
|
|
General and
administrative expenses
|
|
|
3,842,787
|
|
|
|
3,249,181
|
|
|
|
2,230,893
|
|
|
Total operating
expenses
|
|
|
7,540,696
|
|
|
|
7,375,307
|
|
|
|
5,177,981
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LOSS FROM
OPERATIONS
|
|
|
(1,438,025)
|
|
|
|
(444,884)
|
|
|
|
(28,647)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER INCOME
(EXPENSE)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense,
net
|
|
|
(35,457)
|
|
|
|
(98,033)
|
|
|
|
(108,852)
|
|
|
Other income (expense),
net
|
|
|
194,824
|
|
|
|
1,065,963
|
|
|
|
(11,946)
|
|
|
Total other income
(expense), net
|
|
|
159,367
|
|
|
|
967,930
|
|
|
|
(120,798)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INCOME (LOSS) BEFORE
INCOME TAX PROVISION
|
|
|
(1,278,658)
|
|
|
|
523,046
|
|
|
|
(149,445)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROVISION FOR INCOME
TAXES
|
|
|
9,547
|
|
|
|
16,277
|
|
|
|
14,584
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NET INCOME
(LOSS)
|
|
|
(1,288,205)
|
|
|
|
506,769
|
|
|
|
(164,029)
|
|
|
Foreign currency
translation gain (loss)
|
|
|
(369,705)
|
|
|
|
88,952
|
|
|
|
132,207
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL COMPREHENSIVE
INCOME (LOSS)
|
|
$
|
(1,657,910)
|
|
|
$
|
595,721
|
|
|
$
|
(31,822)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings (loss) per
ordinary share - basic and diluted
|
|
$
|
(0.14)
|
|
|
$
|
0.06
|
|
|
$
|
(0.02)
|
|
|
Weighted average
shares - basic and diluted*
|
|
|
9,000,000
|
|
|
|
9,000,000
|
|
|
|
9,000,000
|
|
|
*
|
Retrospectively
restated for effect of 1,000-for-1 forward split and share
issuances on March 27, 2021 (see Note 12)
|
|
CHANSON
INTERNATIONAL HOLDING AND SUBSIDIARIES
|
|
CONSOLIDATED
STATEMENTS OF CASH FLOWS
|
|
|
|
For the Years Ended
December 31,
|
|
|
|
2022
|
|
|
2021
|
|
|
2020
|
|
|
Cash flows from
operating activities:
|
|
|
|
|
|
|
|
|
|
|
Net Income
(Loss)
|
|
$
|
(1,288,205)
|
|
|
$
|
506,769
|
|
|
$
|
(164,029)
|
|
|
Adjustments to
reconcile net income (loss) to net cash provided by
operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of
operating lease right-of-use assets
|
|
|
2,533,074
|
|
|
|
2,226,128
|
|
|
|
1,387,154
|
|
|
Depreciation
|
|
|
701,461
|
|
|
|
605,253
|
|
|
|
485,826
|
|
|
Gain on forgiveness of
loan under Paycheck Protection Program
|
|
|
-
|
|
|
|
(502,298)
|
|
|
|
-
|
|
|
Loss from disposal of
equipment
|
|
|
-
|
|
|
|
27,325
|
|
|
|
273
|
|
|
Changes in operating
assets and liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts
receivable
|
|
|
(215,847)
|
|
|
|
(397,872)
|
|
|
|
(217,961)
|
|
|
Inventories
|
|
|
(206,264)
|
|
|
|
(46,384)
|
|
|
|
(94,227)
|
|
|
Prepaid expenses and
other current assets
|
|
|
(430,717)
|
|
|
|
(175,630)
|
|
|
|
46,881
|
|
|
Long term security
deposits
|
|
|
84,374
|
|
|
|
(236,020)
|
|
|
|
(222,806)
|
|
|
Long term prepaid
expenses
|
|
|
(26,504)
|
|
|
|
38,476
|
|
|
|
55,347
|
|
|
Accounts
payable
|
|
|
247,015
|
|
|
|
325,803
|
|
|
|
181,852
|
|
|
Taxes
payable
|
|
|
103,212
|
|
|
|
(26,347)
|
|
|
|
(73,994)
|
|
|
Deferred
revenue
|
|
|
1,411,004
|
|
|
|
1,252,776
|
|
|
|
964,663
|
|
|
Other current
liabilities
|
|
|
(433,848)
|
|
|
|
98,362
|
|
|
|
27,689
|
|
|
Operating lease
liabilities
|
|
|
(1,927,407)
|
|
|
|
(1,918,095)
|
|
|
|
(1,130,991)
|
|
|
Net cash provided by
operating activities
|
|
|
551,348
|
|
|
|
1,778,246
|
|
|
|
1,245,677
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from
investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchase of property
and equipment
|
|
|
(860,034)
|
|
|
|
(2,038,054)
|
|
|
|
(574,333)
|
|
|
Proceeds from disposal
of equipment
|
|
|
-
|
|
|
|
7,133
|
|
|
|
-
|
|
|
Payments made for loan
to third party
|
|
|
-
|
|
|
|
(1,550,628)
|
|
|
|
-
|
|
|
Proceeds from loan to
third party repayment
|
|
|
-
|
|
|
|
1,550,628
|
|
|
|
-
|
|
|
Net cash used in
investing activities
|
|
|
(860,034)
|
|
|
|
(2,030,921)
|
|
|
|
(574,333)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from
financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from
short-term bank loans
|
|
|
445,831
|
|
|
|
1,903,563
|
|
|
|
2,175,000
|
|
|
Repayments of
short-term bank loans
|
|
|
(1,474,129)
|
|
|
|
(2,683,814)
|
|
|
|
(2,168,388)
|
|
|
Proceeds from long-term
bank loan
|
|
|
-
|
|
|
|
293,007
|
|
|
|
209,291
|
|
|
Advances received from
(payments made to) a related party
|
|
|
1,076,717
|
|
|
|
572,712
|
|
|
|
(791,036)
|
|
|
Payments made for
deferred offering costs
|
|
|
(38,490)
|
|
|
|
(263,708)
|
|
|
|
(274,246)
|
|
|
Net cash provided by
(used in) financing activities
|
|
|
9,929
|
|
|
|
(178,240)
|
|
|
|
(849,379)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange
rate fluctuation on cash and cash equivalents
|
|
|
(682,585)
|
|
|
|
206,659
|
|
|
|
413,812
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net increase
(decrease) in cash and cash equivalents and restricted
cash
|
|
|
(981,342)
|
|
|
|
(224,256)
|
|
|
|
235,777
|
|
|
Cash, cash
equivalents and restricted cash, beginning of year
|
|
|
3,896,812
|
|
|
|
4,121,068
|
|
|
|
3,885,291
|
|
|
Cash, cash
equivalents and restricted cash, end of year
|
|
$
|
2,915,470
|
|
|
$
|
3,896,812
|
|
|
$
|
4,121,068
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of
cash, cash equivalents and restricted cash,
beginning of year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$
|
3,896,812
|
|
|
$
|
4,098,546
|
|
|
$
|
3,874,288
|
|
|
Restricted
cash
|
|
|
-
|
|
|
|
22,522
|
|
|
|
11,003
|
|
|
Cash, cash
equivalents and restricted cash, end of year
|
|
$
|
3,896,812
|
|
|
$
|
4,121,068
|
|
|
$
|
3,885,291
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of
cash, cash equivalents and restricted cash, end of
year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$
|
2,915,470
|
|
|
$
|
3,896,812
|
|
|
$
|
4,098,546
|
|
|
Restricted
cash
|
|
|
-
|
|
|
|
-
|
|
|
|
22,522
|
|
|
Cash, cash
equivalents and restricted cash, end of year
|
|
$
|
2,915,470
|
|
|
$
|
3,896,812
|
|
|
$
|
4,121,068
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental cash
flow information
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash paid for income
taxes
|
|
$
|
5,282
|
|
|
$
|
9,981
|
|
|
$
|
103,160
|
|
|
Cash paid for
interest
|
|
$
|
37,277
|
|
|
$
|
66,688
|
|
|
$
|
113,848
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-cash operating
and investing activities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payable for purchase of
property and equipment
|
|
$
|
463,556
|
|
|
$
|
682,618
|
|
|
$
|
7,283
|
|
|
Right of use assets
obtained in exchange for operating lease liabilities
|
|
$
|
5,160,825
|
|
|
$
|
2,420,359
|
|
|
$
|
4,687,623
|
|
|
PPP loan
forgiveness
|
|
$
|
-
|
|
|
$
|
502,298
|
|
|
$
|
-
|
|
View original
content:https://www.prnewswire.com/news-releases/chanson-international-holding-announces-fiscal-year-2022-financial-results-301812206.html
SOURCE Chanson International Holding