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Stock impact report

Blue Hat Announces Financial Results for the Fiscal Year 2023, of which the Revenue Increased by 33 Times [Yahoo! Finance]

Blue Hat Interactive Entertainment Technology - Ordinary Shares (BHAT) 
Company Research Source: Yahoo! Finance
a company of commodity trading in China, today announced its audited financial results for the fiscal year ended December 31, 2023 (“Fiscal Year 2023”), reflecting a remarkable surge in the revenue. Fiscal Year 2023 Financial Highlights Blue Hat achieved a revenue of $73.68 million in 2023, increasing 33 times than the previous year. This extraordinary achievement is credited to the company's robust expansion of its commodity trading business, particularly in the realms of jewelry and gold trading, since the fourth quarter of 2022. However, despite the substantial revenue growth, the company incurred a net loss of $21.72 million for the Fiscal Year 2023. The primary reasons for the loss include bad debts and asset impairment resulting from divested businesses. Notably, the Company's new business line, commodity trading, contributed a profit of nearly $1.2 million to the company for the Fiscal Year 2023. Management Commentary Mr. Chen Xiaodong, CEO of Blue Hat, stated at the Co Show less Read more
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