Hitek Global Inc. Announces Fiscal Year 2023 Financial Results [Yahoo! Finance]
Hitek Global Inc. - Class A Ordinary Share (HKIT)
Company Research
Source: Yahoo! Finance
and solutions service provider, today announced its financial results for the fiscal year ended December 31, 2023 Ms. Xiaoyang Huang , Chief Executive Officer and Director of Hitek Global Inc. commented, "During the year ended December 31, 2023 , due to governmental policy adjustments, the service fee portion of our tax control business has been affected to some extent, resulting in a decline in overall revenue. The Company is exploring new business opportunities to diversify the company's revenue and business." Fiscal Year 2023 Financial Results Revenue Total revenue was $4.6 million in fiscal year 2023, as compared to $6.4 million in fiscal year 2022, mainly due to the decrease in revenue generated from tax devices and services sales due to governmental policy adjustments. Revenue generated from hardware sales was $2.4 million in fiscal year 2023, as compared to $2.5 million in fiscal year 2022. The decrease was mainly due to the decrease in sales to large customers. Rev
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