Depreciation is an accounting term which is used to spread the cost of an asset over its useful life. It is a method of allocating the cost of an asset over a period of time. It is used to match the cost of the asset to the revenue it generates. Depreciation is a non-cash expense and is used to reduce the value of an asset on the balance sheet. It is important to understand how depreciation works and how it affects the financial statements of businesses. Read the latest news and articles on depreciation below.

Edge-Forex

21.05.2025

Chinese Yuan Nearing Collapse-What It Means for Asia’s Future? - Edge-Forex

Is the Chinese Yuan nearing collapse in 2025? Explore how PBOC monetary policy and currency depreciation are reshaping Asia’s forex market.

ForexTV

22.05.2025

Sunlands Technology Group Announces Unaudited First Quarter 2025 Financial Results - ForexTV

BEIJING, May 22, 2025 (GLOBE NEWSWIRE) -- Sunlands Technology Group (NYSE: STG) (“Sunlands” or the “Company”), a leader in China’s adult online education market and China’s adult personal interest learning market, today announced its unaudited financial results for the first quarter ended March 31, 2025. First Quarter 2025 Financial and Operational Snapshots Net revenues were RMB487.6 million (US$67.2 million), compared to RMB523.2 million in the first quarter of 2024.Gross billings (non-GAAP) were RMB412.3 million (US$56.8 million), compared to RMB398.8 million in the first quarter of 2024.Gross profit was RMB415.3 million (US$57.2 million), compared to RMB446.1 million in the first quarter of 2024.Net income was RMB75.2 million (US$10.4 million), compared to RMB112.7 million in the first quarter of 2024.Net income margin1 was 15.4% in the first quarter of 2025, compared to 21.5% in the first quarter of 2024.New student enrollments2 were 169,083, compared to 175,758 in the first quarter of 2024.As of March 31,2025, the Company’s deferred revenue balance was RMB891.6 million (US$122.9 million), compared to RMB916.5 million as of December 31, 2024. “In the first quarter of 2025, we reported net revenues of RMB487.6 million and net income of RMB75.2 million, marking our sixteenth consecutive profitable quarter—a strong start to the year that reinforces our confidence in delivering sustained growth throughout 2025. We have reshaped our business with clear intent—doubling down on high-potential areas and streamlining for long-term strength. Looking ahead, we will continue to strengthen our core capabilities, expand our course offerings, embrace intelligent technology, and maintain a disciplined focus on value creation. We are confident this approach will deliver sustainable long-term returns for shareholders and meaningful learning outcomes for our students,” said Mr. Tongbo Liu, Chief Executive Officer of Sunlands. Mr. Hangyu Li, Finance Director of Sunlands, commented, “I am pleased to report results for the first quarter of 2025. We maintained gross profit margin of 85.2% and net income margin of 15.4% for the quarter. This solid start is a testament to our prudent financial management and the sustainability of our business. In addition, we celebrated our seventh consecutive quarter of positive operating cash flow, which further strengthens our ability to navigate market uncertainty while making strategic investments. As we look ahead, our focus remains steadfast: strengthening operational efficiencies, prioritizing high margin and high potential areas, and leveraging technology to create superior value for the customers we serve.” Financial Results for the First Quarter of 2025 Net Revenues In the first quarter of 2025, net revenues decreased by 6.8% to RMB487.6 million (US$67.2 million) from RMB523.2 million in the first quarter of 2024. The decrease was primarily driven by the decline in gross billings from post-secondary courses over the recent quarters, resulting in a year-over-year decrease in net revenues from post-secondary courses. Cost of Revenues Cost of revenues decreased by 6.3% to RMB72.3 million (US$10.0 million) in the first quarter of 2025 from RMB77.2 million in the first quarter of 2024. The decrease was mainly due to the declined compensation expenses related to headcount reduction of our teachers and mentors. Gross Profit Gross profit decreased by 6.9% to RMB415.3 million (US$57.2 million) in the first quarter of 2024 from RMB446.1 million in the first quarter of 2024. Operating Expenses In the first quarter of 2025, operating expenses were RMB341.1 million (US$47.0 million), which were the same as the first quarter of 2024. Sales and marketing expenses were RMB300.4 million (US$41.4 million) in the first quarter of 2024, which remained relatively stable as compared to RMB301.6 million in the first quarter of 2024. General and administrative expenses increased by 5.9% to RMB34.5 million (US$4.7 million) in the first quarter of 2025 from RMB32.6 million in the first quarter of 2024. Product development expenses decreased by 11.0% to RMB6.2 million (US$0.9 million) in the first quarter of 2025 from RMB7.0 million in the first quarter of 2024. The decrease was mainly due to declined compensation expenses related to headcount reduction of our product development personnel. Net Income Net income for the first quarter of 2025 was RMB75.2 million (US$10.4 million), as compared to RMB112.7 million in the first quarter of 2024. Basic and Diluted Net Income Per Share Basic and diluted net income per share was RMB11.12 (US$1.53) in the first quarter of 2025. Cash, Cash Equivalents and Short-term Investments As of March 31, 2025, the Company had RMB596.2 million (US$82.2 million) of cash and cash equivalents and RMB200.7 million (US$27.7 million) of short-term investments, as compared to RMB507.2 million of cash and cash equivalents and RMB276.0 million of short-term investments as of December 31, 2024. Deferred Revenue As of March 31, 2025, the Company had a deferred revenue balance of RMB891.6 million (US$122.9 million), as compared to RMB916.5 million as of December 31, 2024. Share Repurchase On December 6, 2021, the Company’s board of directors authorized a share repurchase program, under which the Company may repurchase up to US$15.0 million of Class A ordinary shares in the form of ADSs over the next 24 months. On December 1, 2023, the Company’s board of directors authorized to extend its share repurchase program over the next twenty-four months. As of May 19, 2025, the Company had repurchased an aggregate of 702,045 ADSs for approximately US$3.9 million under the share repurchase program. Outlook For the second quarter of 2025, Sunlands currently expects net revenues to be between RMB500 million to RMB520 million, which would represent an increase of 1.6% to 5.6% year-over-year. The above outlook is based on the current market conditions and reflects the Company’s current and preliminary estimates of market and operating conditions and customer demand, which are all subject to substantial uncertainty. Exchange Rate The Company’s business is primarily conducted in China and all revenues are denominated in Renminbi (“RMB”). This announcement contains currency conversions of RMB amounts into U.S. dollars (“US$”) solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to US$ are made at a rate of RMB7.2567 to US$1.00, the effective noon buying rate for March 31, 2025 as set forth in the H.10 statistical release of the Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on March 31, 2025, or at any other rate. Conference Call and Webcast Sunlands’ management team will host a conference call at 6:00 AM U.S. Eastern Time, (6:00 PM Beijing/Hong Kong time) on May 22, 2025, following the quarterly results announcement. For participants who wish to join the call, please access the link provided below to complete online registration 15 minutes prior to the scheduled call start time. Upon registration, participants will receive details for the conference call, including dial-in numbers, a personal PIN and an e-mail with detailed instructions to join the conference call. Registration Link:https://register-conf.media-server.com/register/BIded6865756ca41e7abc06cd064c7c3f0 Additionally, a live webcast and archive of the conference call will be available on the Investor Relations section of Sunlands' website at https://ir.sunlands.com/. About Sunlands Sunlands Technology Group (NYSE: STG) (“Sunlands” or the “Company”), formerly known as Sunlands Online Education Group, is a leader in China’s adult online education market and China’s adult personal interest learning market. With a one to many live streaming platform, Sunlands offers various degree- or diploma-oriented post-secondary courses as well as professional certification preparation, professional skills and interest courses. Students can access the Company's services either through PC or mobile applications. The Company's online platform cultivates a personalized, interactive learning environment by featuring a virtual learning community and a vast library of educational content offerings that adapt to the learning habits of its students. Sunlands offers a unique approach to education research and development that organizes subject content into Learning Outcome Trees, the Company's proprietary knowledge management system. Sunlands has a deep understanding of the educational needs of its prospective students and offers solutions that help them achieve their goals. About Non-GAAP Financial Measures We use gross billings, EBITDA, non-GAAP operating cost and expenses, non-GAAP income from operations and non-GAAP net income per share, each a non-GAAP financial measure, in evaluating our operating results and for financial and operational decision-making purposes. We define gross billings for a specific period as the total amount of cash received for the sale of course packages, net of the total amount of refunds paid in such period. Our management uses gross billings as a performance measurement because we generally bill our students for the entire course tuition at the time of sale of our course packages and recognize revenue proportionally over a period. EBITDA is defined as net income excluding depreciation and amortization, interest expense, interest income, and income tax expenses. We believe that gross billings and EBITDA provide valuable insight into the sales of our course packages and the performance of our business. These non-GAAP financial measures should not be considered in isolation from, or as a substitute for, their most directly comparable financial measures prepared in accordance with GAAP. A reconciliation of the historical non-GAAP financial measures to their respective most directly comparable GAAP measure has been provided in the tables included below. Investors are encouraged to review the reconciliation of the historical non-GAAP financial measures to their respective most directly comparable GAAP financial measures. As gross billings, EBITDA, operating cost and expenses excluding share-based compensation expenses, general and administrative expenses excluding share-based compensation expenses, sales and marketing expenses excluding share-based compensation expenses, product development expenses excluding share-based compensation expenses, income from operations excluding share-based compensation expenses, and basic and diluted net income per share excluding share-based compensation expenses have material limitations as an analytical metric and may not be calculated in the same manner by all companies, it may not be comparable to other similarly titled measures used by other companies. In light of the foregoing limitations, you should not consider gross billings and EBITDA as a substitute for, or superior to, their respective most directly comparable financial measures prepared in accordance with GAAP. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure. Safe Harbor Statement This press release contains forward-looking statements made under the “safe harbor” provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Sunlands may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about Sunlands' beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: Sunlands' goals and strategies; its expectations regarding demand for and market acceptance of its brand and services; its ability to retain and increase student enrollments; its ability to offer new courses and educational content; its ability to improve teaching quality and students’ learning results; its ability to improve sales and marketing efficiency and effectiveness; its ability to engage, train and retain new faculty members; its future business development, results of operations and financial condition; its ability to maintain and improve technology infrastructure necessary to operate its business; competition in the online education industry in China; relevant government policies and regulations relating to Sunlands’ corporate structure, business and industry; and general economic and business condition in China. Further information regarding these and other risks, uncertainties or factors is included in Sunlands' filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and Sunlands does not undertake any obligation to update such information, except as required under applicable law. For investor and media enquiries, please contact: Sunlands Technology GroupInvestor Relations Email: sl-ir@sunlands.comSOURCE: Sunlands Technology Group SUNLANDS TECHNOLOGY GROUPUNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS(Amounts in thousands, except for share and per share data, or otherwise noted) As of December 31, As of March 31, 2024 2025 RMB RMB US$ASSETS Current assets Cash and cash equivalents 507,229 596,226 82,162Short-term investments 276,029 200,673 27,653Prepaid expenses and other current assets 96,916 96,230 13,261Deferred costs, current 4,139 18,140 2,500Total current assets 884,313 911,269 125,576Non-current assets Property and equipment, net 758,215 751,304 103,532Intangible assets, net 723 604 83Right-of-use assets 110,154 109,756 15,125Deferred costs, non-current 56,657 39,195 5,401Long-term investments 260,083 256,825 35,391Deferred tax assets 24,699 24,828 3,421Other non-current assets 26,319 25,760 3,550Total non-current assets 1,236,850 1,208,272 166,503TOTAL ASSETS 2,121,163 2,119,541 292,079 LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES Current liabilities Accrued expenses and other current liabilities 404,865 393,944 54,286Deferred revenue, current 382,047 504,303 69,495Lease liabilities, current portion 8,317 8,818 1,215Short-term borrowing - 20,000 2,756Long-term debt, current portion 6,154 - -Total current liabilities 801,383 927,065 127,752 SUNLANDS TECHNOLOGY GROUPUNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS-continued(Amounts in thousands, except for share and per share data, or otherwise noted) As of December 31, As of March 31, 2024 2025 RMB RMB US$Non-current liabilities Deferred revenue, non-current 534,463 387,314 53,373 Lease liabilities, non-current portion 137,040 132,102 18,204 Deferred tax liabilities 5,724 5,608 773 Other non-current liabilities 7,309 7,363 1,015 Long-term debt, non-current portion 35,386 - - Total non-current liabilities 719,922 532,387 73,365 TOTAL LIABILITIES 1,521,305 1,459,452 201,117 SHAREHOLDERS’ EQUITY Class A ordinary shares (par value of US$0.00005, 796,062,195 shares authorized; 3,131,807 and 3,131,807 shares issued as of December 31, 2024 and March 31, 2025, respectively; 2,600,779 and 2,599,673 shares outstanding as of December 31, 2024 and March 31, 2025, respectively) 1 1 - Class B ordinary shares (par value of US$0.00005, 826,389 shares authorized; 826,389 and 826,389 shares issued and outstanding as of December 31, 2024 and March 31, 2025, respectively) - - - Class C ordinary shares (par value of US$0.00005, 203,111,416 shares authorized; 3,332,062 and 3,332,062 shares issued and outstanding as of December 31, 2024 and March 31, 2025, respectively) 1 1 - Treasury stock - - - Statutory reserves 11,083 11,083 1,527 Accumulated deficit (1,840,285) (1,765,109) (243,239)Additional paid-in capital 2,294,381 2,294,291 316,162 Accumulated other comprehensive income 136,164 121,309 16,717 Total Sunlands Technology Group shareholders’ equity 601,345 661,576 91,167 Non-controlling interest (1,487) (1,487) (205)TOTAL SHAREHOLDERS’ EQUITY 599,858 660,089 90,962 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 2,121,163 2,119,541 292,079 SUNLANDS TECHNOLOGY GROUPUNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(Amounts in thousands, except for share and per share data, or otherwise noted) For the Three Months Ended March 31, 2024 2025 RMB RMB US$Net revenues 523,240 487,625 67,197 Cost of revenues (77,163) (72,336) (9,968)Gross profit 446,077 415,289 57,229 Operating expenses Sales and marketing expenses (301,575) (300,444) (41,402)Product development expenses (7,010) (6,242) (860)General and administrative expenses (32,552) (34,459) (4,749)Total operating expenses (341,137) (341,145) (47,011)Income from operations 104,940 74,144 10,218 Interest income 9,289 5,407 745 Interest expense (1,604) (407) (56)Other income, net 5,780 6,617 912 Income before income tax benefit/(expenses) and loss from equity method investments 118,405 85,761 11,819 Income tax benefit/(expenses) 391 (9,774) (1,347)Loss from equity method investments (6,061) (811) (112)Net income 112,735 75,176 10,360 Less: Net loss attributable to non-controlling interest - - - Net income attributable to Sunlands Technology Group 112,735 75,176 10,360 Net income per share attributable to ordinary shareholders of Sunlands Technology Group: Basic and diluted 16.44 11.12 1.53 Weighted average shares used in calculating net income per ordinary share: Basic and diluted 6,857,016 6,759,187 6,759,187 SUNLANDS TECHNOLOGY GROUPUNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME(Amounts in thousands) For the Three Months Ended March 31, 2024 2025 RMB RMB US$Net income 112,735 75,176 10,360 Other comprehensive income/(loss), net of tax effect of nil: Change in cumulative foreign currency translation adjustments 9,536 (3,596) (496)Unrealized loss on available-for-sale investments, net of tax effect of nil - (11,259) (1,552)Total comprehensive income 122,271 60,321 8,312 Less: comprehensive income attributable to non-controlling interest - - - Comprehensive income attributable to Sunlands Technology Group 122,271 60,321 8,312 SUNLANDS TECHNOLOGY GROUPRECONCILIATION OF GAAP AND NON-GAAP RESULTS(Amounts in thousands) For the Three Months Ended March 31, 2024 2025 RMB RMBNet revenues 523,240 487,625 Less: other revenues (58,874) (58,920)Add: tax and surcharges 16,369 22,290 Add: ending deferred revenue 1,044,866 891,617 Add: ending refund liability 130,840 98,516 Less: beginning deferred revenue (1,113,923) (916,510)Less: beginning refund liability (143,744) (112,342)Gross billings (non-GAAP) 398,774 412,276 Net income 112,735 75,176 Add: income tax (benefit)/expenses (391) 9,774 Add: depreciation and amortization 7,431 7,218 Add: interest expense 1,604 407 Less: interest income (9,289) (5,407)EBITDA (non-GAAP) 112,090 87,168 1 Net income margin is defined as net income as a percentage of net revenues. 2 New student enrollments for a given period refer to the total number of orders placed by students that newly enroll in at least one course during that period, including those students that enroll and then terminate their enrollment with us, excluding orders of our low-price courses, such as “mini courses” and “RMB1 courses”, which we offer in the form of recorded videos or short live streaming, to strengthen our competitiveness and improve customer experience.

ForexTV

22.05.2025

Computer Modelling Group Announces Year-End Results - ForexTV

CALGARY, Alberta, May 22, 2025 (GLOBE NEWSWIRE) -- Computer Modelling Group Ltd. (“CMG Group” or the “Company”) announces its financial results for the three months and year ended March 31, 2025, and the approval by its Board of Directors (the “Board”) of the payment of a cash dividend of $0.05 per Common Share for the fourth quarter ended March 31, 2025. FOURTH QUARTER 2025 CONSOLIDATED HIGHLIGHTS Select financial highlights Total revenue increased by 4% (13% Organic decline(1) and 17% growth from acquisitions) to $33.7 million;Recurring revenue(2) increased by 16% (7% Organic decline and 23% growth from acquisitions) to $24.2 million;Adjusted EBITDA(1) increased by 2% to $10.5 million;Adjusted EBITDA Margin(1) was 31%, compared to 32% in the comparative period;Earnings per share was $0.06, a 33% decrease;Free Cash Flow(1) decreased by 26% to $7.0 million; Free Cash flow per share decreased to $0.08 from $0.12. FISCAL 2025 CONSOLIDATED HIGHLIGHTS Select financial highlights Total revenue increased by 19% (1% Organic decline and 20% growth from acquisitions) to $129.4 million;Recurring revenue increased by 13% (1% Organic growth and 12% was growth from acquisitions) to $86.8 million;Adjusted EBITDA increased by 2% to $44.0 million;Adjusted EBITDA Margin was 34%, compared to 40% in the comparative period;Earnings per share was $0.27, a 16% decrease;Free Cash Flow decreased by 22% to $27.6 million; Free Cash flow per share decreased to $0.33 from $0.44. (1) Organic growth/decline, Adjusted EBITDA, Adjusted EBITDA Margin and Free Cash Flow are not standardized financial measures and might not be comparable to measures disclosed by other issuers. For more description see under “Non-IFRS Financial and Supplementary Financial Measures” heading. (2) Recurring revenue includes Annuity/maintenance licenses and Annuity license fee, and excludes Perpetual licenses and Professional Services. OVERVIEW Macroeconomic factors and political instability, combined with a low oil price environment, resulted in challenged organic growth this year, particularly in reservoir and production solutions, where lengthened deal cycles and cautious customer spending prevailed. Despite these challenges, we continued to execute on our strategic M&A roadmap, and revenue growth during the quarter and year-to-date, was supported by meaningful contributions from acquisitions. Adjusted EBITDA increases during the quarter and year-to-date were also supported by growth from acquisitions. Free Cash Flow decreased during the quarter and year-to-date due to pressures on top-line-growth, however, during the prior year period, Free Cash Flow also benefited from the tax deduction of approximately $4.6 million as a result of the acquisition of intellectual property. We generated $27.6 million of Free Cash Flow during fiscal 2025, maintaining our strong liquidity position and enabling us to invest in strategic acquisitions. As we look forward to fiscal 2026, excluding any impact from future acquisitions, we anticipate a reduction of between $6 - $7 million in professional services revenue compared to fiscal 2025 which may make it challenging to demonstrate total revenue growth. It is a goal of the company to shift the revenue mix towards a higher percentage of software revenue and the reduction in professional services is a natural part of the shift. Adjusted EBITDA and Adjusted EBITDA Margin may also show limited growth due to anticipated delays in cost-saving measures in taking effect, but this impact is expected to be limited to fiscal 2026. To ensure long-term resilience, we remain committed to evolving our business model through carefully targeted strategic acquisitions. Our acquisitions to date position us well by expanding our capabilities and helping to support long-term growth by complementing our core offering. SUMMARY OF FINANCIAL PERFORMANCE Three months ended March 31,Year ended March 31,($ thousands, except per share data)20252024% change 20252024% change Annuity/maintenance licenses19,43619,661(1%)77,52571,5308%Annuity license fee4,7281,142314%9,2805,14680%Recurring revenue(1) (2)24,16420,80316%86,80576,67613%Perpetual licenses5542,130(74%)5,6175,739(2%)Total software license revenue24,71822,9338%92,42282,41512%Professional services8,9659,358(4%)37,02426,26441%Total revenue33,68332,2914%129,446108,67919%Cost of revenue6,7496,4704%24,94017,22445%Operating expenses Sales & marketing5,0944,36117%18,61714,95724%Research and development8,1297,6077%30,14223,67927%General & administrative4,8765,576(13%)21,59918,83515%Operating expenses18,09917,5443%70,35857,47122%Operating profit8,8358,2777%34,14833,984-%Net income 5,1047,229(29%)22,43726,259(15%)Adjusted EBITDA (1)10,50010,2952%44,00943,3452%Adjusted EBITDA Margin (1)31%32% 34%40% Earnings per share – basic & diluted0.060.09(33%)0.270.32(16%)Funds flow from operations per share - basic0.100.13(23%)0.380.47(19%)Free Cash Flow per share – basic (1)0.080.12(33%)0.330.44(25%) (1) Non-IFRS financial measures are defined in the “Non-IFRS Financial Measures” section. (2) Included in the number is a reduction of $0.5 million and $0.8 million for the three months and year ended March 31, 2025, respectively ($0.1 million and $0.2 million for the three months and year ended March 31, 2024, respectively), attributed to the amortization of a deferred revenue fair value reduction recognized on acquisition. Q4 2025 Dividend Computer Modelling Group’s Board approved a cash dividend of $0.05 per Common Share. The dividend will be paid on June 13, 2025, to shareholders of record at the close of business on June 5, 2025. All dividends paid by Computer Modelling Group Ltd. to holders of Common Shares in the capital of the Company will be treated as eligible dividends within the meaning of such term in section 89(1) of the Income Tax Act (Canada), unless otherwise indicated. NON-IFRS FINANCIAL MEASURES AND RECONCILIATION OF NON-IFRS MEASURES Free Cash Flow Reconciliation to Funds Flow from Operations Free cash flow is a non-IFRS financial measure that is calculated as funds flow from operations less capital expenditures and repayment of lease liabilities. Free Cash Flow per share is calculated by dividing free cash flow by the number of weighted average outstanding shares during the period. Management believes that this measure provides useful supplemental information about operating performance and liquidity, as it represents cash generated during the period, regardless of the timing of collection of receivables and payment of payables, which may reduce comparability between periods. Management uses free cash flow and free cash flow per share to help measure the capacity of the Company to pay dividends and invest in business growth opportunities. Fiscal 2024Fiscal 2025($ thousands, unless otherwise stated)Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Funds flow from operations7,920 11,491 8,477 10,367 6,515 7,101 9,937 8,227 Capital expenditures(45)(51)(459)(95)(93)(236)(432)(661)Repayment of lease liabilities(412)(412)(728)(803)(743)(769)(689)(549)Free Cash Flow7,463 11,028 7,290 9,469 5,679 6,096 8,816 7,017 Weighted average shares – basic (thousands)80,685 80,834 81,067 81,314 81,476 81,887 82,753 83,064 Free Cash Flow per share - basic0.09 0.14 0.09 0.12 0.07 0.07 0.11 0.08 Funds flow from operations per share- basic0.10 0.14 0.10 0.13 0.08 0.09 0.12 0.10 Free Cash Flow decreased by 26% and 22%, respectively, for the three months and year ended March 31, 2025 from the same periods of the previous fiscal year. These decreases are primarily due to lower funds flow from operations, higher capital expenditures, and increased repayment of lease liabilities as a result of office leases in acquired entities. During year ended March 31, 2024, Free Cash Flow benefited from the tax deduction of approximately $4.6 million as a result of the acquisition of the BHV intellectual property. Adjusted EBITDA and Adjusted EBITDA Margin Three months ended March 31,Year ended March 31,($ thousands)2025 2024 2025 2024 Net income (loss)5,104 7,229 22,437 26,259 Add (deduct): Depreciation and amortization2,368 2,151 8,465 5,688 Acquisition costs216 186 2,567 1,456 Stock-based compensation(435)922 2,625 6,292 Loss on contingent consideration88 - 2,151 - Deferred revenue amortization on acquisition fair value reduction535 76 845 188 Income and other tax expense2,154 1,935 10,448 8,963 Interest income(313)(658)(2,605)(3,096)Interest expense189 - 189 - Foreign exchange loss (gain)1,143 (743)(363)(50)Repayment of lease liabilities(549)(803)(2,750)(2,355)Adjusted EBITDA (1)10,500 10,295 44,009 43,345 Adjusted EBITDA Margin (1)31%32%34%40% (1) This is a non-IFRS financial measure. Refer to definition of the measures above. Adjusted EBITDA increased by 2% during the three months ended March 31, 2025, compared to the same period of the previous year, of which 20% was growth from acquisitions, partially offset by an Organic decline of 18%, primarily attributable to lower revenue in the quarter partially offset by lower expenses. Adjusted EBITDA increased by 2% for the year ended March 31, 2025, compared to the same period of the previous year, of which 3% of the increase was due to growth from acquisitions, partially offset by a 1% Organic decline due to higher expenses. Organic Growth Organic growth is not a standardized financial measure and might not be comparable to measures disclosed by other issuers. The Company measures Organic growth on a quarterly and year-to-date basis at the revenue and Adjusted EBITDA levels and includes revenue and Adjusted EBITDA under CMG Group’s ownership for a year or longer, beginning from the first full quarter of CMG Group’s ownership in the current and comparative period(s). For example, BHV was acquired on September 25, 2023 (Q2 2024). September 25, 2024, marked one full year of ownership under CMG Group and on October 1, 2024 (Q3 2025), which is the first full quarter under CMG Group’s ownership in the current and comparative period, started being tracked under Organic growth. Any revenue and Adjusted EBITDA generated by BHV prior to October 1, 2024, would not be included in Organic growth. Sharp was acquired on November 12, 2025 (Q3 2025) and will start contributing to Organic growth on January 1, 2026 (Q4 2026). For further clarity, current statements include Organic growth from the following: CMG revenue and Adjusted EBITDA; andBHV revenue and Adjusted EBITDA generated beginning on October 1, 2024. Recurring Revenue Recurring revenue represents the revenue recognized during the period from contracts that are recurring in nature and includes revenue recognized as “Annuity/maintenance licenses” and “Annuity license fee”. We believe that Recurring revenue is an indicator of business expansion and provides management with visibility into our ability to generate predictable cash flows. The table below reconciles Recurring revenue to total revenue for the periods indicated. Three months ended March 31,Year ended March 31, 20252024% change 20252024% change ($ thousands) Annuity/maintenance licenses19,43619,661(1%)77,52571,5308%Annuity license fee4,7281,142314%9,2805,14680%Recurring revenue(1) (2)24,16420,80316%86,80576,67613%Perpetual licenses5542,130(74%)5,6175,739(2%)Total software license revenue24,71822,9338%92,42282,41512%Professional services8,9659,358(4%)37,02426,26441%Total revenue33,68332,2914%129,446108,67919% (1) This is a non-IFRS financial measure. (2) Included in the number is a reduction of $0.5 million and $0.8 million for the three months and year ended March 31, 2025, respectively ($0.1 million and $0.2 million for the three months and year ended March 31, 2024, respectively), attributed to the amortization of a deferred revenue fair value reduction recognized on acquisition. Consolidated Statements of Financial Position March 31, 2025 March 31, 2024 April 1, 2023 (thousands of Canadian $) Assets Current assets: Cash43,884 63,083 66,850 Restricted cash 362 142 - Trade and other receivables41,457 36,550 23,910 Prepaid expenses2,572 2,321 1,060 Prepaid income taxes1,641 3,841 444 89,916 105,937 92,264 Intangible assets59,955 23,683 1,321 Right-of-use assets28,443 29,072 30,733 Property and equipment10,157 9,877 10,366 Goodwill15,814 4,399 - Deferred tax asset471 - 2,444 Total assets204,756 172,968 137,128 Liabilities and shareholders’ equity Current liabilities: Trade payables and accrued liabilities18,452 18,551 11,126 Income taxes payable2,667 2,136 33 Acquisition holdback payable188 2,292 - Acquisition earnout3,864 - - Deferred revenue40,276 41,120 34,797 Lease liabilities2,278 2,566 1,829 Government loan310 - - 68,035 66,665 47,785 Lease liabilities34,668 34,395 36,151 Stock-based compensation liabilities256 624 742 Government loan1,319 - - Acquisition earnout- 1,503 - Acquisition holdback payable1,257 - - Other long-term liabilities212 305 - Deferred tax liabilities13,102 1,661 - Total liabilities118,849 105,153 84,678 Shareholders’ equity: Share capital94,849 87,304 81,820 Contributed surplus15,460 15,667 15,471 Cumulative translation adjustment4,326 (367)- Deficit(28,728)(34,789)(44,841)Total shareholders’ equity85,907 67,815 52,450 Total liabilities and shareholders' equity204,756 172,968 137,128 Consolidated Statements of Operations and Comprehensive Income Years ended March 31, (thousands of Canadian $ except per share amounts)2025 2024 Revenue129,446 108,679 Cost of revenue24,940 17,224 Gross profit104,506 91,455 Operating expenses Sales and marketing18,617 14,957 Research and development30,142 23,679 General and administrative21,599 18,835 70,358 57,471 Operating profit34,148 33,984 Finance income2,968 3,146 Finance costs(2,080)(1,908)Change in fair value of contingent consideration(2,151)- Profit before income and other taxes32,885 35,222 Income and other taxes10,448 8,963 Net income22,437 26,259 Other comprehensive income: Foreign currency translation adjustment4,693 (367)Other comprehensive income4,693 (367)Total comprehensive income27,130 25,892 Net income per share – basic0.27 0.32 Net income per share – diluted0.27 0.32 Dividend per share0.20 0.20 Consolidated Statements of Cash Flows Years ended March 31, (thousands of Canadian $)2025 2024 Operating activities Net income22,437 26,259 Adjustments for: Depreciation and amortization of property, equipment, right-of use assets4,756 4,187 Amortization of intangible assets3,709 1,501 Deferred income tax expense (recovery)(776)3,518 Stock-based compensation(1,297)2,795 Foreign exchange and other non-cash items800 (5)Change in fair value of contingent consideration2,151 - Funds flow from operations31,780 38,255 Movement in non-cash working capital: Trade and other receivables(527)(6,697)Trade payables and accrued liabilities(818)2,618 Prepaid expenses and other assets(169)(1,183)Income taxes receivable (payable)2,421 (1,826)Deferred revenue(2,770)4,910 Change in non-cash working capital(1,863)(2,178)Net cash provided by operating activities29,917 36,077 Financing activities Repayment of acquired line of credit- (2,012)Repayment of government loan(141)- Proceeds from issuance of common shares5,597 4,193 Repayment of lease liabilities(2,750)(2,355)Dividends paid(16,376)(16,207)Net cash used in financing activities(13,670)(16,381) Investing activities Corporate acquisition, net of cash acquired(27,292)(22,814)Repayment of acquisition holdback payable(9,247)- Property and equipment additions, net of disposals(1,422)(650)Net cash used in investing activities(37,961)(23,464)Decrease in cash(21,714)(3,768)Effect of foreign exchange on cash2,515 1 Cash, beginning of year63,083 66,850 Cash, end of year43,884 63,083 Supplementary cash flow information Interest received2,605 3,096 Interest paid1,891 1,908 Income taxes paid11,370 7,201 CORPORATE PROFILE CMG Group (TSX:CMG) is a global software and consulting company that combines science and technology with deep industry expertise to solve complex subsurface and surface challenges for the new energy industry around the world. The Company is headquartered in Calgary, AB, with offices in Houston, Oslo, Stavanger, Kaiserslautern, Oxford, Dubai, Bogota, Rio de Janeiro, Bengaluru, and Kuala Lumpur. For more information, please visit www.cmgl.ca. ANNUAL FILINGS AND RELATED ANNUAL FINANCIAL INFORMATION Management’s Discussion and Analysis (“MD&A”) and consolidated financial statements and the notes thereto for the year ended March 31, 2025, can be obtained from our website www.cmgl.ca. The documents will also be available under CMG Group’s SEDAR profile www.sedarplus.ca. Cautionary Note Regarding Forward-Looking Statements This press release contains "forward-looking statements". Forward-looking statements can be identified by words such as: "anticipate", "intend", "plan", "goal", "seek", "believe", "project", "estimate", "expect", "strategy", "future", "likely", "may", "should", "will", and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding the benefits of the acquired technology, the ongoing development thereof; and the ability of data analytics to improve efficiency, cut costs and reduce risks. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements are detailed in the companies’ public filings. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise. CONTACT: For further information, please contact: Pramod Jain Chief Executive Officer (403) 531-1300 pramod.jain@cmgl.ca or Sandra Balic Vice President, Finance & CFO (403) 531-1300 sandra.balic@cmgl.ca For investor inquiries, please contact: Kim MacEachern Director, Investor Relations cmg-investors@cmgl.ca For media inquiries, please contact: marketing@cmgl.ca

ForexTV

29.05.2025

Galantas Report Financial Results for the Quarter Ended March 31, 2025 - ForexTV

TORONTO, May 29, 2025 (GLOBE NEWSWIRE) -- Galantas Gold Corporation (the ‘Company’) is pleased to announce its unaudited financial results for the Quarter ended March 31, 2025. Financial Highlights Highlights of the first quarter 2025 results, which are expressed in Canadian Dollars, are summarized below: All figures denominated in Canadian Dollars (CDN$)Quarter EndedMarch 31 20252024Revenue$0$0Cost and expenses of operations$(14,935)$(17,332)Loss before the undernoted$(14,935)$(17,332)Depreciation$(89,792)$(106,226)General administrative expenses$(1,087,488)$(1,173,035)Foreign exchange gain (loss)$243,500$119,127Unrealized gain / (loss) on derivative fair value adjustment$365,290$(523,850)Net (Loss) for the quarter$(1,225,116)$(653,616)Working Capital Deficit$(17,274,760)$(11,290,856)Cash loss from operating activities before changes in non-cash working capital$(51,250)$(495,610)Cash at March 31, 2025$729,387$1,288,200 Sales revenue for the quarter ended March 31, 2025 amounted to $ Nil compared to revenue of $ Nil for the quarter ended March 31, 2024. Shipments of concentrate commenced during the third quarter of 2019. Concentrate sales provisional revenues totalled US$ Nil for the first quarter of 2025 compared to US $ 207,000 for the first quarter of 2024. Until the mine commences commercial production, the net proceeds from concentrate sales are being offset against development assets. The Net Loss for the quarter ended March 31, 2025 amounted to $ 1,225,116 (2024: $ 653,616) and the cash outflow from operating activities before changes in non-cash working capital for the quarter ended March 31, 2025 amounted to $51,250 (2024: $432,610). The Company had a cash balance of $729,387 at March 31, 2025 compared to $1,288,200 at March 31, 2024. The working capital deficit at March 31, 2025 amounted to $17,274,760 compared to a working capital deficit of $11,290,856 at March 31, 2024. Safety is a high priority for the Company and we continue to invest in safety-related training and infrastructure. The zero lost time accident rate since the start of underground operations continues. Environmental monitoring demonstrates a high level of regulatory compliance. The detailed results and Management Discussion and Analysis (MD&A) are available on www.sedar.com and www.galantas.com and the highlights in this release should be read in conjunction with the detailed results and MD&A. The MD&A provides an analysis of comparisons with previous periods, trends affecting the business and risk factors. Qualified PersonThe financial components of this disclosure have been reviewed by Alan Buckley (Chief Financial Officer), the exploration and geological components by Sarah Coulter and the production and permitting components by Brendan Morris (COO), qualified persons under the meaning of NI. 43-101. The information is based upon local production and financial data prepared under their supervision. SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, including revenues and cost estimates, for the Omagh Gold project. Forward-looking statements are based on estimates and assumptions made by Galantas in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that Galantas believes are appropriate in the circumstances. Many factors could cause Galantas’ actual results, the performance or achievements to differ materially from those expressed or implied by the forward looking statements or strategy, including: gold price volatility; discrepancies between actual and estimated production, actual and estimated metallurgical recoveries and throughputs; mining operational risk, geological uncertainties; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign involvement; speculative nature of gold exploration; dilution; competition; loss of or availability of key employees; additional funding requirements; uncertainties regarding planning and other permitting issues; and defective title to mineral claims or property. These factors and others that could affect Galantas’s forward-looking statements are discussed in greater detail in the section entitled “Risk Factors” in Galantas’ Management Discussion & Analysis of the financial statements of Galantas and elsewhere in documents filed from time to time with the Canadian provincial securities regulators and other regulatory authorities. These factors should be considered carefully, and persons reviewing this press release should not place undue reliance on forward-looking statements. Galantas has no intention and undertakes no obligation to update or revise any forward-looking statements in this press release, except as required by law. The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain. Enquiries Galantas Gold Corporation Mario Stifano – CEO Email: info@galantas.com Website: www.galantas.com Telephone: 001 416 453 8433 Grant Thornton UK LLP (Nomad)Philip Secrett, Harrison Clarke, Elliot Peters:Telephone: +44(0)20 7383 5100 SP Angel Corporate Finance LLP (AIM Broker) David Hignell, Charlie Bouverat (Corporate Finance)Grant Barker (Sales and Broking)Telephone: +44(0)20 3470 0470

ForexTV

29.05.2025

Unaudited interim results for the three-month period ended 31 March 2025 - ForexTV

Unaudited interim results for the three-month period ended 31 March 2025 Serabi Gold plc (“Serabi” or the “Company”) (AIM:SRB, TSX:SBI, OTCQX:SRBIF), the Brazilian focused gold mining and development company, is pleased to release its unaudited results for the three-month period ended 31 March 2025 (all financial amounts are expressed in U.S. dollars unless otherwise indicated). HIGHLIGHTS Gold production for Q1-2025 of 10,013 ounces (Q1-2024: 9,007 ounces).Cash held at 31 March 2025 of $26.5 million (31 December 2024: $22.2 million).EBITDA for the three-month period of $12.4 million (Q1-2024: $4.7 million).Post-tax profit for the three-month period of $8.8 million (Q1-2024: $3.6 million).Profit per share of 11.58 cents (Q1-2024: 4.80 cents).Net cash inflow from operations for the three-month period (after mine development expenditure of $1.6 million and pre operating costs of $1.5 million) of $7.1 million (Q1-2024: $0.3 million inflow after mine development expenditure and pre operating costs of $1.6 million).Average gold price of $2,908 per ounce received on gold sales during the three-month period (Q1-2024: $2,081).Cash Cost for the quarter of $1,269 per ounce (Q1-2024: $1,461 per ounce).All-In Sustaining Cost for the three-month period to March 2025 of $1,636 per ounce (Q1-2024: $1,859 per ounce). The full interim statements together with commentary can be accessed on the Company’s website using the following LINK. Colm Howlin, CFO, Commented “Q1 2025 marked a strong start to the year, continuing the positive momentum from H2-2024. Gold production for the quarter totalled 10,013 ounces, representing an 11% increase on Q1-2024. This was driven by higher feed grades at both Palito and Coringa, supported by the first full quarter of operations at the Coringa classification plant. The strong operational performance contributed to cash generation of $4.2 million in the quarter, increasing the Group’s cash position to $26.5 million at 31 March 2025, up from $22.2 million at 31 December 2024. The average realised gold price for the quarter was $2,908 per ounce, compared to $2,407 per ounce for the fiscal 2024 year. We also commenced our 2025 exploration programme, with $9 million allocated for the year and a similar commitment anticipated for 2026. Drilling activity is now underway at both Palito and Coringa. Early drill results from the programme have been encouraging. We look forward to providing an exploration update in the oncoming weeks.” Overview of the financial results Reported revenues and costs reflect the ounces sold in each period and as a result total revenues and costs for the three-month period are higher than the corresponding period in 2024. In Q1-2025, the Group reported revenue and operating costs related to the sale of 9,699 ounces in the period (10,013 ounces produced). This compares to sales reported of 9,007 ounces in Q1-2024. Whilst the Company benefited from an improving gold price throughout the first quarter of 2025, the most material uplift occurred only in March, with the USD gold price rising to $2,996 and averaging $2,908 for the quarter, compared to a current spot price of approximately $3,300 per ounce. This contributed to a Q1 average gold price in Brazilian Real of BRL17,018. In Q1-2025, the average USD gold price increased by 18% in comparison to Q1-2024 ($2,908 in Q1-2025 vs $2,469 in Q1-2024). BRL strengthened during Q1-2025, with the USD:BRL rate moving from 6.19 at 31 December 2024 to 5.74 at 31 March 2025. This strengthening limited the extent to which the stronger USD gold price translated into local currency margins. The Group delivered a strong start to 2025 with an 11% increase in production year-on-year, driven by significant grade improvements at both Palito (+32%) and Coringa (+8%). Coringa’s first full quarter of classification plant operations contributed meaningfully to the grade uplift, while development at new zones across both sites and a ramped-up $9 million brownfield exploration programme with a focus on doubling our resource at Palito Complex and Coringa, position the Group well for continued growth. Cash balances at the end of March 2025 were $26.5 million, in comparison to the cash balances at the end of December 2024 of $22.2 million. On 6 January 2025 the Company fully repaid its $5.0 million unsecured loan arrangement with Itau Bank in Brazil which carried an interest coupon of 8.47 per cent. On 22 January 2025, the Group secured a new $5.0 million loan from Banco Santander. The Banco Santander loan is repayable as a bullet payment on 21 January 2026 and carries an interest coupon of 6.16%. The Company had a net cash balance at the end of Q1-2025 (after interest bearing loans and lease liabilities) of $20.9 million (31 December 2024: net cash $16.2 million). Key Financial Information SUMMARY FINANCIAL STATISTICS FOR THE THREE-MONTHS ENDING 31 MARCH 2025 3 months to31 March 2025$(unaudited)3 months to31 March 2024$(unaudited) Revenue 27,593,36320,246,400 Cost of sales (13,138,165)(13,556,599) Gross operating profit 14,455,1986,689,801 Administration and share based payments (2,006,445)(1,984,990) EBITDA 12,448,7534,704,811 Depreciation and amortisation charges (1,834,773)(1,046,561) Operating profit before finance and tax 10,613,9803,658,250 Profit after tax 8,769,7593,637,563 Earnings per ordinary share (basic) 11.58c4.80c Average gold price received ($/oz) $2,908$2,081 As at31 March 2025$(unaudited)As at31 December 2024$(audited)Cash and cash equivalents 26,504,93922,183,049Net funds (after finance debt obligations) 21,168,75916,341,245Net assets 120,008,729104,181,654 Cash Cost and All-In Sustaining Cost (“AISC”) 3 months to 31 March 20253 months to 31 March 202412 months to 31 December 2024Gold production for cash cost and AISC purposes (ounces) 10,0139,00737,520 Total Cash Cost of production (per ounce) $1,269$1,461$1,326Total AISC of production (per ounce) $1,636$1,859$1,700 The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018. The person who arranged for the release of this announcement on behalf of the Company was Andrew Khov, Vice President, Investor Relations & Business Development. Enquiries SERABI GOLD plcMichael Hodgson t +44 (0)20 7246 6830Chief Executive m +44 (0)7799 473621 Colm Howlin Chief Financial Officer m +353 89 6078171 Andrew Khov m +1 647 885 4874Vice President, Investor Relations & Business Development e contact@serabigold.com www.serabigold.com BEAUMONT CORNISH LimitedNominated Adviser & Financial AdviserRoland Cornish / Michael Cornish t +44 (0)20 7628 3396 PEEL HUNT LLPJoint UK BrokerRoss Allister / Georgia Langoulant t +44 (0)20 7418 9000 TAMESIS PARTNERS LLPJoint UK BrokerCharlie Bendon/ Richard Greenfield t +44 (0)20 3882 2868 CAMARCOFinancial PR - EuropeGordon Poole / Emily Hall t +44 (0)20 3757 4980 HARBOR ACCESS Financial PR – North AmericaJonathan Patterson / Lisa Micali t +1 475 477 9404 Forward-looking statementsCertain statements in this announcement are, or may be deemed to be, forward looking statements. Forward looking statements are identiﬁed by their use of terms and phrases such as ‘‘believe’’, ‘‘could’’, “should” ‘‘envisage’’, ‘‘estimate’’, ‘‘intend’’, ‘‘may’’, ‘‘plan’’, ‘‘will’’ or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors’ current expectations and assumptions regarding the Company’s future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reﬂect the Directors’ current beliefs and assumptions and are based on information currently available to the Directors. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions, competition, environmental and other regulatory changes, actions by governmental authorities, the availability of capital markets, reliance on key personnel, uninsured and underinsured losses and other factors, many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such forward looking statements. Qualified Persons StatementThe scientific and technical information contained within this announcement has been reviewed and approved by Michael Hodgson, a Director of the Company. Mr Hodgson is an Economic Geologist by training with over 35 years' experience in the mining industry. He holds a BSc (Hons) Geology, University of London, a MSc Mining Geology, University of Leicester and is a Fellow of the Institute of Materials, Minerals and Mining and a Chartered Engineer of the Engineering Council of UK, recognizing him as both a Qualified Person for the purposes of Canadian National Instrument 43-101 and by the AIM Guidance Note on Mining and Oil & Gas Companies dated June 2009. NoticeBeaumont Cornish Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as nominated adviser to the Company in relation to the matters referred herein. Beaumont Cornish Limited is acting exclusively for the Company and for no one else in relation to the matters described in this announcement and is not advising any other person and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to clients of Beaumont Cornish Limited, or for providing advice in relation to the contents of this announcement or any matter referred to in it. Neither the Toronto Stock Exchange, nor any other securities regulatory authority, has approved or disapproved of the contents of this news release. See www.serabigold.com for more information and follow us on X @Serabi_Gold The following information, comprising, the Income Statement, the Group Balance Sheet, Group Statement of Changes in Shareholders’ Equity, and Group Cash Flow, is extracted from the unaudited interim financial statements for the three months to 31 March 2025. Statement of Comprehensive IncomeFor the three-month period ended 31 March 2025. For the three months ended31 March 20252024(expressed in US$)Notes (unaudited)(unaudited)CONTINUING OPERATIONS Revenue (from continuing operations) 27,593,36320,246,400Cost of sales (13,138,165)(13,556,599)Depreciation and amortisation charges (1,834,773)(1,046,561)Total cost of sales (14,972,938)(14,603,160)Gross profit 12,620,4255,643,240Administration expenses (1,978,239)(1,942,740)Share-based payments (67,714)(53,883)Gain on disposal of fixed assets 39,50811,633Operating profit 10,613,9803,658,250Other income – exploration receipts2 —339,854Other expenses – exploration expenses2 —(312,518)Foreign exchange (loss)/gain 70,426(34,566)Finance expense3 (110,974)(174,605)Finance income3 206,078141,555Profit before taxation 10,779,5103,617,970Income and other taxes4 (2,009,751)19,593Profit after taxation(1) 8,769,7593,637,563 Other comprehensive income (net of tax) Exchange differences on translating foreign operations 6,989,602(1,780,928)Total comprehensive profit for the period(1) 15,759,3611,856,635 Profit per ordinary share (basic)5 11.58c4.80cProfit per ordinary share (diluted)5 11.58c4.80c (1) The Group has no non-controlling interest and all profits are attributable to the equity holders of the Parent Company Balance Sheet as at 31 March 2025 (expressed in US$) As at31 March 2025 (unaudited)As at31 March 2024 (unaudited)As at31 December 2024(audited)Non-current assets Deferred exploration costs 21,710,72820,075,45818,839,836Property, plant and equipment 60,650,59052,662,60653,593,723Right of use assets 4,957,7915,006,1174,287,020Taxes receivable 5,396,1803,734,3096,246,352Deferred taxation 2,532,5941,736,0771,878,081Total non-current assets 95,247,88383,214,56784,845,012Current assets Inventories 15,649,25813,999,67413,115,648Trade and other receivables 2,841,7074,024,8962,533,450Prepayments and accrued income 3,553,4853,181,0242,220,463Cash and cash equivalents 26,504,93911,056,31722,183,049Total current assets 48,549,38932,261,91140,052,610Current liabilities Trade and other payables 12,772,7217,808,6399,695,560Interest bearing liabilities 5,336,1805,689,8055,841,804Accruals 462,371401,939419,493Total current liabilities 18,571,27213,900,38315,956,857Net current assets 29,978,11718,361,52824,095,753Total assets less current liabilities 125,226,000101,576,095108,940,765Non-current liabilities Trade and other payables 1,928,7994,249,1152,809,243Provisions 3,037,9792,568,2871,839,916Interest bearing liabilities 250,49356,126109,952Total non-current liabilities 5,217,2716,873,5284,759,111Net assets 120,008,72994,702,567104,181,654Equity Share capital 11,213,61811,213,61811,213,618Share premium reserve 36,158,06836,158,06836,158,068Option reserve 289,327229,456221,613Other reserves 20,110,10016,708,28519,486,684Translation reserve (71,470,163)(63,561,669)(78,459,765)Retained surplus 123,707,77992,954,809115,561,436Equity shareholders’ funds 120,008,72994,702,567104,181,654 The interim financial information has not been audited and does not constitute statutory accounts as defined in Section 434 of the Companies Act 2006. Whilst the financial information included in this announcement has been compiled in accordance with International Financial Reporting Standards (“IFRS”) this announcement itself does not contain sufficient financial information to comply with IFRS. The Group statutory accounts for the year ended 31 December 2024 prepared in accordance with international accounting standards in conformity with the requirements of the Companies Act 2006 will be filed with the Registrar of Companies before 30 June 2025. The auditor’s report on these accounts was unqualified and did not contain a statement under Section 498 (2) or 498 (3) of the Companies Act 2006. Statements of Changes in Shareholders’ EquityFor the three-month period ended 31 March 2025 (expressed in US$) (unaudited)SharecapitalSharepremiumShare option reserveOther reserves (1)Translation reserveRetained EarningsTotal equityEquity shareholders’ funds at 31 December 202311,213,61836,158,068175,57315,960,006(61,780,741)91,065,52592,792,049Foreign currency adjustments————(1,780,928)—(1,780,928)Profit for the period—————3,637,5633,637,563Total comprehensive income for the period————(1,780,928)3,637,5631,856,635Transfer to taxation reserve———748,279—(748,279)—Share option expense——53,883———53,883Equity shareholders’ funds at 31 March 202411,213,61836,158,068229,45616,708,285(63,561,669)93,954,80994,702,567Foreign currency adjustments————(14,898,096)—(14,898,096)Profit for the period—————24,182,15524,182,155Total comprehensive income for the period————(14,898,096)24,182,1559,284,059Transfer to taxation reserve———2,778,399—(2,778,399)—Share based incentives lapsed in period——(202,871)——202,871—Share based incentive expense——195,028———195,028Equity shareholders’ funds at 31 December 202411,213,61836,158,068221,61319,486,684(78,459,765)115,561,436104,181,654Foreign currency adjustments————6,989,602—6,989,602Profit for the period—————8,769,7598,769,759Total comprehensive income for the period————6,989,6028,769,75915,759,361Transfer to taxation reserve———623,416—(623,416)—Share option expense——67,714———67,714Equity shareholders’ funds at 31 March 202511,213,61836,158,068289,32720,110,100(71,470,163)123,707,779120,008,729 (1) (1) Other reserves comprise a merger reserve of US$361,461 and a taxation reserve of US$19,748,639 (31 December 2024: merger reserve of US$361,461 and a taxation reserve of US$19,125,223).Condensed Consolidated Cash Flow StatementFor the three-month period ended 31 March 2025 For the three monthsended31 March 20252024(expressed in US$) (unaudited)(unaudited)Operating activities Post tax profit for period 8,769,7593,637,563Depreciation – plant, equipment and mining properties 1,834,7731,046,561Net financial (income)/expense (165,530)67,616(Gain)/loss on asset disposals (39,508)(11,633)Provision for taxation 2,009,751(19,593)Share-based payments 67,71453,883Taxation paid (1,931,751)(15,354)Interest paid (380,770)(392,268)Foreign exchange loss 182,38767,747Changes in working capital Increase in inventories (1,907,662)(349,744) (Increase)/decrease in receivables, prepayments and accrued income (1,071,364)1,881,445 Decrease in payables, accruals and provisions 2,852,038 (686,484)Net cash inflow from operations 10,219,8371,900,441 Investing activities Purchase of property, plant and equipment and assets in construction (1,601,149)(438,985)Mine development expenditure (1,626,214)(1,589,627)Pre-operational project expenditure (1,535,853) Geological exploration expenditure (1,525,508)(149,584)Proceeds from sale of assets 49,50811,908Interest received 206,078134,723Net cash outflow on investing activities (6,033,138)(2,031,565) Financing activities Receipt of short-term loan 5,000,0005,000,000Repayment of short-term loan (5,153,577)(5,000,000)Payment of finance lease liabilities (141,654)(255,245)Net cash outflow from financing activities (295,231)(255,245) Net increase / (decrease) in cash and cash equivalents 3,891,468(386,369)Cash and cash equivalents at beginning of period 22,183,04911,552,031Exchange difference on cash 430,422(109,345)Cash and cash equivalents at end of period 26,504,93911,056,317 Notes Basis of preparation These interim condensed consolidated financial statements are for the three-month period ended 31 March 2025. Comparative information has been provided for the unaudited three-month period ended 31 March 2024 and, where applicable, the audited twelve-month period from 1 January 2024 to 31 December 2024. These condensed consolidated financial statements do not include all the disclosures that would otherwise be required in a complete set of financial statements and should be read in conjunction with the 2024 annual report.The condensed consolidated financial statements for the periods have been prepared in accordance with International Accounting Standard 34 “Interim Financial Reporting” and the accounting policies are consistent with those of the annual financial statements for the year ended 31 December 2024 and those envisaged for the financial statements for the year ending 31 December 2025. Accounting standards, amendments and interpretations effective in 2024 The Group has not adopted any standards or amendments in advance of their effective date. The following new amendment has been issued by the IASB and is effective for annual periods beginning on or after 1 January 2025: Amendments to IAS 21 – The Effects of Changes in Foreign Exchange Rates: Lack of ExchangeabilityThe amendments provide guidance for determining the spot exchange rate when exchangeability between two currencies is lacking. They clarify when a currency is considered exchangeable and introduce a methodology for estimating an appropriate exchange rate when necessary. The Group does not expect a material impact on its financial statements from these amendments.No other standards or amendments are expected to be effective in 2025. Certain new accounting standards and interpretations have been published that are not mandatory for the current period and have not been early adopted. These standards are not expected to have a material impact on the Company’s current or future reporting periods. These financial statements do not constitute statutory accounts as defined in Section 434 of the Companies Act 2006. (i) Going concernAt 31 March 2025 the Group held cash of US$26.5 million which represents an increase of US$4.3 million compared to 31 December 2024. On 7 January 2024, the Group completed a US$5.0 million unsecured loan arrangement with Brazilian bank Itau which carried a fixed interest coupon of 8.47 per cent. The loan was repaid as a bullet payment on 6 January 2025. On 22 January 2025, the Group completed a further US$5.0 million unsecured loan arrangement with a different Brazilian bank (Santander) which carries a fixed interest coupon of 6.16 per cent. This loan is repayable on 16 January 2026. Management prepares, for Board review, regular updates of its operational plans and cash flow forecasts based on their best judgement of the expected operational performance of the Group and using economic assumptions that the Directors consider are reasonable in the current global economic climate. The current plans assume that during 2025 the Group will continue gold production from its Palito Complex operation as well as increase production from the Coringa mine and will be able to increase gold production to exceed the levels of 2024. The Directors will limit the Group’s discretionary expenditures, when necessary, to manage the Group’s liquidity. The Directors acknowledge that the Group remains subject to operational and economic risks and any unplanned interruption or reduction in gold production or unforeseen changes in economic assumptions may adversely affect the level of free cash flow that the Group can generate on a monthly basis. The Directors have a reasonable expectation that, after taking into account reasonably possible changes in trading performance, and the current macroeconomic situation, the Group has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the Financial Statements. 2. Other Income and Expenses Under the copper exploration alliance with Vale announced on 10 May 2024, the related exploration activities undertaken by the Group under the management of a working committee (comprising representatives from Vale and Serabi), were funded in their entirety by Vale during Phase 1 of the programme. Following the completion of Phase 1, Vale advised the Group, in April 2025, that it did not wish to continue the exploration alliance. Exploration and development of copper deposits is not the core activity of the Group and further funding beyond the Phase 1 commitment would be required before a judgment could be made as to a project being commercially viable. There is a significant cost involved in developing new copper deposits and it is unlikely that, without the financial support of a partner, the Group would independently seek to develop a copper project in preference to any of its existing gold projects and discoveries. As a result, both the funding received from Vale and the related exploration expenditures has been recognised through the income statement. As this is not a principal business activity of the Group these receipts and expenditures are classified as other income and other expenses. 3. Finance expense and income 3 months ended31 March 2025(unaudited)3 months ended31 March 2024 (unaudited) US$US$Interest expense on unsecured loan(79,011)(141,647)Interest expense on finance leases(14,287)(14,036)Interest expense on short term trade loan(17,676)(18,922)Total finance expense(110,974)(174,605)Interest income206,078134,723Gain on revaluation of hedging derivatives— 6,832Total finance income206,078141,555Net finance (expense)95,104(33,050) 4. Taxation The Group has recognised a deferred tax asset to the extent that the Group has reasonable certainty as to the level and timing of future profits that might be generated and against which the asset may be recovered. The deferred tax liability arising on unrealised exchange gains has been eliminated in the three-month period to 31 March 2025 reflecting the stronger Brazilian Real exchange rate at the end of the period and resulting in deferred tax income of US$466,264 (three months to 31 March 2024 – income of US$674,185). The Group has also incurred a tax charge in Brazil for the three-month period of US$2,475,989 (three months to 31 March 2024 tax charge - US$654,592). 5. Earnings per Share 3 months ended 31 March 2025(unaudited)3 months ended 31 March 2024(unaudited)Profit attributable to ordinary shareholders (US$)8,769,7593,637,563Weighted average ordinary shares in issue75,734,55175,734,551Basic profit per share (US cents)11.58c4.80cDiluted ordinary shares in issue (1)75,734,55175,734,551Diluted profit per share (US cents)11.58c4.80c (1) At 31 March 2025 there were 3,357,649 conditional share awards in issue (31 March 2024 - 2,814,541). These are subject to performance conditions which may or not be fulfilled in full or in part. These CSAs have not been included in the calculation of the diluted earnings per share. 6. Post balance sheet events There has been no item, transaction or event of a material or unusual nature likely, in the opinion of the Directors of the Company to affect significantly the continuing operation of the entity, the results of these operations, or the state of affairs of the entity in future financial periods.

ForexTV

29.05.2025

Aurora Mobile Limited Announces First Quarter 2025 Unaudited Financial Results - ForexTV

SHENZHEN, China, May 29, 2025 (GLOBE NEWSWIRE) -- Aurora Mobile Limited (“Aurora Mobile” or the “Company”) (NASDAQ: JG), a leading provider of customer engagement and marketing technology services in China, today announced its unaudited financial results for the first quarter ended March 31, 2025. First Quarter 2025 Financial Highlights Revenues were RMB89.0 million (US$12.3 million), an increase of 38% year-over-year.Cost of revenues was RMB30.1 million (US$4.2 million), an increase of 66% year-over-year.Gross profit was RMB58.8 million (US$8.1 million), an increase of 27% year-over-year.Total operating expenses were RMB60.6 million (US$8.3 million), an increase of 14% year-over-year.Net loss was RMB1.6 million (US$0.2 million), compared with a net loss of RMB2.6 million for the same quarter last year.Net loss attributable to Aurora Mobile Limited’s shareholders was RMB2.6 million (US$0.4 million), compared with a net loss attributable to Aurora Mobile Limited’s shareholders of RMB2.4 million for the same quarter last year.Adjusted net loss (non-GAAP) was RMB1.2 million (US$0.2 million), compared with a RMB1.3 million adjusted net loss for the same quarter last year.Adjusted EBITDA (non-GAAP) was RMB0.5 million (US$63 thousand), compared with RMB0.2 million for the same quarter last year. Mr. Weidong Luo, Chairman and Chief Executive Officer of Aurora Mobile, commented, “We have had a great start to 2025. Our Q1’2025 performance and numbers are very impressive. Firstly, our EngageLab business had a “Monster Quarter” where we closed out more than RMB63 million worth of contract value in just one quarter. This brings the total cumulative EngageLab contract value in excess of RMB110 million by March 31, 2025.Secondly, the Group’s revenue this quarter reached RMB89.0 million, achieving a remarkable 38% growth year-over-year. EngageLab’s recognized revenue also grew by 127% year-over-year.Thirdly, our Financial Risk Management business had its best quarter in history, recording the highest quarterly revenue of RMB22.2 million, revenue grew by 64% year-over-year.Fourthly, gross profit grew strongly by 27% year-over-year, achieving the highest gross profit for the past 9 quarters. Gross margin has also improved 520 basis points quarter-over-quarter!Fifthly, we recorded another Adjusted EBITDA profit in this quarter. This marks the 7th consecutive quarterly positive Adjusted EBITDA we have had. With these numbers above, we are equally excited about 2025. This has no doubt set a great momentum for the rest of the 2025 ! The progress in our performance and our solid financial position enable us to invest more resources into the development of our enterprise AI agent platform and its global expansion.” Mr. Shan-Nen Bong, Chief Financial Officer of Aurora Mobile, added, “In Q1’2025, our revenue grew by 38% year-over-year, gross profit grew by 27% whilst operating expenses grew by 14%. Overall, we are pleased to see how the operating expenses have been trending in view of the revenue and gross profit growth. This is a sustainable growth model on a long-term basis.” First Quarter 2025 Financial Results Revenues were RMB89.0 million (US$12.3 million), an increase of 38% from RMB64.5 million in the same quarter of last year, attributable to a 39% increase in revenue from Developer Services and a 35% increase in revenue from Vertical Applications. In particular, the revenues from Value-Added Services within Developer Services increased by 269% compared to the same quarter of last year. Cost of revenues was RMB30.1 million (US$4.2 million), an increase of 66% from RMB18.2 million in the same quarter of last year. The increase was mainly due to a RMB5.6 million increase in media cost, a RMB1.6 million increase in short messaging cost, and a RMB4.7 million increase in other direct costs related to revenue generation. Gross profit was RMB58.8 million (US$8.1 million), an increase of 27% from RMB46.4 million in the same quarter of last year. Total operating expenses were RMB60.6 million (US$8.3 million), an increase of 14% from RMB53.0 million in the same quarter of last year. Research and development expenses were RMB24.6 million (US$3.4 million), an increase of 8% from RMB22.7 million in the same quarter of last year, mainly due to a RMB0.9 million increase in personnel costs and a RMB0.8 million increase in cloud cost.Sales and marketing expenses were RMB23.3 million (US$3.2 million), an increase of 34% from RMB17.4 million in the same quarter of last year, mainly due to a RMB5.2 million increase in personnel costs.General and administrative expenses were RMB12.7 million (US$1.7 million), a decrease of 2% from RMB12.9 million in the same quarter of last year, mainly due to a RMB0.6 million decrease in share-based compensation expenses. Loss from operations was RMB1.5 million (US$0.2 million), compared with RMB5.1 million in the same quarter of last year. Net Loss was RMB1.6 million (US$0.2 million), compared with RMB2.6 million in the same quarter of last year. Adjusted net loss (non-GAAP) was RMB1.2 million (US$0.2 million), compared with RMB1.3 million in the same quarter of last year. Adjusted EBITDA (non-GAAP) was RMB0.5 million (US$63 thousand) compared with RMB0.2 million for the same quarter of last year. The cash and cash equivalents and restricted cash were RMB113.6 million (US$15.7 million) as of March 31, 2025 compared with RMB119.5 million as of December 31, 2024. Business Outlook For the second quarter of 2025, the Company expects the total revenue to be between RMB87.5 million and RMB90.5 million, representing year-over-year growth of approximately 10% to 14%. The above outlook is based on the current market conditions and reflects the Company’s current and preliminary estimates of market and operating conditions and customer demand, which are all subject to change. Update on Share Repurchase As of March 31, 2025, the Company had repurchased a total of 295,179 ADS, of which 16,322 ADSs, or around US$170.5 thousand were repurchased during the first quarter in 2025. Conference Call The Company will host an earnings conference call on Thursday, May 29, 2025 at 7:30 a.m. U.S. Eastern Time (7:30 p.m. Beijing time on the same day). All participants must register in advance to join the conference using the link provided below. Please dial in 15 minutes before the call is scheduled to begin. Conference access information will be provided upon registration. Participant Online Registration: https://register-conf.media-server.com/register/BI47c63565ef284b3784a50da74dc4a38e A live and archived webcast of the conference call will be available on the Investor Relations section of Aurora Mobile’s website at https://ir.jiguang.cn/. Use of Non-GAAP Financial Measures In evaluating the business, the Company considers and uses two non-GAAP measures, adjusted net (loss)/income and adjusted EBITDA, as a supplemental measure to review and assess its operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines adjusted net (loss)/income as net loss excluding share-based compensation. The Company defines adjusted EBITDA as net loss excluding interest expense, depreciation of property and equipment, amortization of intangible assets, income tax expenses/(benefits) and share-based compensation. The Company believes that adjusted net (loss)/income and adjusted EBITDA help identify underlying trends in its business that could otherwise be distorted by the effect of certain expenses that it includes in loss from operations and net loss. The Company believes that adjusted net (loss)/income and adjusted EBITDA provide useful information about its operating results, enhance the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by the management in their financial and operational decision-making. The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using adjusted net (loss)/income and adjusted EBITDA is that they do not reflect all items of income and expense that affect the Company’s operations. Further, the non-GAAP financial measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited. The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company’s performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure. Reconciliations of the non-GAAP financial measures to the most comparable U.S. GAAP measure are included at the end of this press release. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile’s strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Aurora Mobile’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Aurora Mobile’s strategies; Aurora Mobile’s future business development, financial condition and results of operations; Aurora Mobile’s ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SAAS business model; its ability to maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law. About Aurora Mobile Limited Founded in 2011, Aurora Mobile is a leading provider of customer engagement and marketing technology services in China. Since its inception, Aurora Mobile has focused on providing stable and efficient messaging services to enterprises and has grown to be a leading mobile messaging service provider with its first-mover advantage. With the increasing demand for customer reach and marketing growth, Aurora Mobile has developed forward-looking solutions such as Cloud Messaging and Cloud Marketing to help enterprises achieve omnichannel customer reach and interaction, as well as artificial intelligence and big data-driven marketing technology solutions to help enterprises' digital transformation. For more information, please visit https://ir.jiguang.cn/. For investor and media inquiries, please contact: Aurora Mobile Limited ir@jiguang.cn Christensen In China Ms. Xiaoyan Su Phone: +86-10-5900-1548 E-mail: Xiaoyan.Su@christensencomms.com In U.S. Ms. Linda Bergkamp Phone: +1-480-614-3004 Email: linda.bergkamp@christensencomms.com Footnote: This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.2567 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of March 31, 2025. AURORA MOBILE LIMITEDUNAUDITED INTERIM CONDENSED CONSOLIDATED INCOME STATEMENTS(Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”), except for number of shares and per share data) Three months ended March 31, 2024 December 31, 2024 March 31, 2025 RMB RMB RMB US$ Revenues 64,524 93,153 88,961 12,259 Cost of revenues (18,152) (36,468) (30,117) (4,150)Gross profit 46,372 56,685 58,844 8,109 Operating expenses Research and development (22,681) (24,326) (24,607) (3,391)Sales and marketing (17,391) (24,583) (23,303) (3,211)General and administrative (12,932) (11,392) (12,676) (1,747)Total operating expenses (53,004) (60,301) (60,586) (8,349)Other operating income 1,579 3,393 197 27 Loss from operations (5,053) (223) (1,545) (213)Foreign exchange (loss)/gain, net (23) (62) 38 5 Interest income 2,187 288 236 33 Interest expenses (6) (42) (39) (5)Other income/(loss) 15 (805) - - Gains from fair value change 23 45 38 5 Loss before income taxes (2,857) (799) (1,272) (175)Income tax benefits/(expenses) 244 105 (336) (46)Net loss (2,613) (694) (1,608) (221)Less: net (loss)/income attributable to noncontrolling interests (214) 372 944 130 Net loss attributable to Aurora Mobile Limited’s shareholders (2,399) (1,066) (2,552) (351)Net loss per share, for Class A and Class B common shares: Class A and B Common Shares - basic and diluted (0.03) (0.01) (0.03) (0.00)Shares used in net loss per share computation: Class A Common Shares - basic and diluted 62,687,345 63,200,100 63,254,710 63,254,710 Class B Common Shares - basic and diluted 17,000,189 17,000,189 17,000,189 17,000,189 Other comprehensive income/(loss) Foreign currency translation adjustments 78 1,357 (82) (11)Total other comprehensive income/(loss), net of tax 78 1,357 (82) (11)Total comprehensive (loss)/income (2,535) 663 (1,690) (232)Less: comprehensive (loss)/income attributable to noncontrolling interests (214) 372 944 130 Comprehensive (loss)/income attributable to Aurora Mobile Limited’s shareholders (2,321) 291 (2,634) (362) AURORA MOBILE LIMITEDUNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS(Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”)) As of December 31, 2024 March 31, 2025 RMB RMB US$ASSETS Current assets: Cash and cash equivalents 119,171 113,267 15,609 Restricted cash 376 375 52 Accounts receivable 50,804 54,071 7,451 Prepayments and other current assets 14,264 17,354 2,391 Total current assets 184,615 185,067 25,503 Non-current assets: Long-term investments 113,506 113,458 15,635 Property and equipment, net 4,573 4,331 597 Operating lease right-of-use assets 17,146 15,892 2,190 Intangible assets, net 13,767 12,788 1,762 Goodwill 37,785 37,785 5,207 Deferred tax assets 131 167 23 Other non-current assets 6,510 6,503 895 Total non-current assets 193,418 190,924 26,309 Total assets 378,033 375,991 51,812 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Short-term loan 3,000 - - Accounts payable 32,691 34,114 4,701 Deferred revenue and customer deposits 147,111 156,929 21,625 Operating lease liabilities 4,461 4,152 572 Accrued liabilities and other current liabilities 74,370 66,407 9,151 Total current liabilities 261,633 261,602 36,049 Non-current liabilities: Operating lease liabilities 13,376 12,292 1,694 Deferred tax liabilities 3,059 2,891 398 Other non-current liabilities 567 567 78 Total non-current liabilities 17,002 15,750 2,170 Total liabilities 278,635 277,352 38,219 Shareholders’ equity: Common shares 50 51 7 Treasury shares (1,674) (2,898) (399)Additional paid-in capital 1,045,221 1,047,375 144,332 Accumulated deficit (995,715) (998,267) (137,565)Accumulated other comprehensive income 20,040 19,958 2,750 Total Aurora Mobile Limited’s shareholders’ equity 67,922 66,219 9,125 Noncontrolling interests 31,476 32,420 4,468 Total shareholders’ equity 99,398 98,639 13,593 Total liabilities and shareholders’ equity 378,033 375,991 51,812 AURORA MOBILE LIMITEDRECONCILIATION OF GAAP AND NON-GAAP RESULTS(Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”)) Three months ended March 31, 2024 December 31, 2024 March 31, 2025 RMB RMB RMB US$Reconciliation of Net Loss to Adjusted Net (Loss)/Income: Net loss (2,613) (694) (1,608) (221)Add: Share-based compensation 1,268 795 407 56 Adjusted net (loss)/income (1,345) 101 (1,201) (165)Reconciliation of Net Loss to Adjusted EBITDA: Net loss (2,613) (694) (1,608) (221)Add: Income tax (benefits)/expenses (244) (105) 336 46 Interest expenses 6 42 39 5 Depreciation of property and equipment 380 197 266 37 Amortization of intangible assets 1,369 1,052 1,019 140 EBITDA (1,102) 492 52 7 Add: Share-based compensation 1,268 795 407 56 Adjusted EBITDA 166 1,287 459 63 AURORA MOBILE LIMITEDUNAUDITED SAAS BUSINESSES REVENUE(Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”)) Three months ended March 31, 2024 December 31, 2024 March 31, 2025 RMB RMB RMB US$ Developer Services 44,749 70,998 62,322 8,588 Subscription 42,351 54,687 53,467 7,368 Value-Added Services 2,398 16,311 8,855 1,220 Vertical Applications 19,775 22,155 26,639 3,671 Total Revenue 64,524 93,153 88,961 12,259 Gross Profits 46,372 56,685 58,844 8,109 Gross Margin 71.9% 60.9% 66.1% 66.1%

ForexTV

30.05.2025

UP Fintech Holding Limited Reports Unaudited First Quarter 2025 Financial Results - ForexTV

SINGAPORE, May 30, 2025 (GLOBE NEWSWIRE) -- UP Fintech Holding Limited (NASDAQ: TIGR) (“UP Fintech” or the “Company”), a leading online brokerage firm focusing on global investors, today announced its unaudited financial results for the first quarter ended March 31, 2025. Mr. Wu Tianhua, Chairman and CEO of UP Fintech stated: “The macro environment remained dynamic in the first quarter, our total revenues reached US$122.6 million, representing an increase of 55.3% year-over-year. Benefiting from our brand strength and continued investment in R&D, both our GAAP and non-GAAP net income saw impressive growth. Net income attributable to ordinary shareholders of UP Fintech was US$30.4 million, up 8.4% quarter over quarter and 146.7% year over year. Non-GAAP net income attributable to ordinary shareholders of UP Fintech reached US$36.0 million, an increase of 18.3% sequentially and 145.0% from the same period last year. In the first quarter, we added 60,900 new customers with deposits, already achieving 40% of our yearly guidance of 150,000 new customers with deposits for 2025, and bringing our total number of customers with deposits at the end of the first quarter to 1,152,900, a 23.5% increase compared to the same quarter last year. Asset inflow remained strong, we saw net asset inflow of US$3.4 billion in the first quarter, of which the majority comes from retail users, combining with a US$776 million mark to market gain, led total account balance rose by 9.9% quarter over quarter and 39.5% year over year to US$45.9 billion, setting another historic high. We also achieved notable growth in Hong Kong, the average net asset inflows of new funded clients in Hong Kong during the first quarter were above US$30,000. In the first quarter, we continued to roll out new features aimed at enhancing the user experience across our platform. In Hong Kong, we introduced additional functionality on top of its existing virtual asset trading service. Retail investors can now deposit and withdraw cryptocurrency, such as Bitcoin and Ethereum, while professional investors are also able to deposit and withdraw USDT. Additionally, Tiger Brokers Hong Kong recently launched Delivery Versus Payment (DVP) functionality, which strengthens our ability to serve institutional and high-net-worth clients. We also introduced equity repo services to further enhance our securities lending and treasury management capabilities. In addition, we remain committed to improving our Tiger AI offering based on user feedback. It now supports portfolio and watchlist analysis, allowing users to more effectively identify investment opportunities, receive risk alerts on their holdings, and access actionable strategy suggestions. In our Corporate business, we underwrote 4 Hong Kong IPOs in the first quarter, including “Chifeng Gold” and “Nanshan Aluminum”, and acted as distributor for “Mixue Group”, the largest Hong Kong IPO in the first quarter. In our ESOP business, we added 20 new clients in the first quarter, bringing the total number of ESOP clients served to 633 as of March 31, 2025.” Financial Highlights for First Quarter 2025 Total revenues were US$122.6 million, an increase of 55.3% year-over-year and a decrease of 1.2% quarter-over-quarter.Total net revenues were US$107.6 million, an increase of 67.7% year-over-year and an increase of 0.2% quarter-over-quarter.Net income attributable to ordinary shareholders of UP Fintech was US$30.4 million compared to a net income of US$12.3 million in the same quarter of last year.Non-GAAP net income attributable to ordinary shareholders of UP Fintech was US$36.0 million, compared to a non-GAAP net income of US$14.7 million in the same quarter of last year. A reconciliation of non-GAAP financial metrics to the most comparable GAAP metrics is set forth below. Operating Highlights for First Quarter 2025 Total account balance increased 39.5% year-over-year to US$45.9 billion.Total margin financing and securities lending balance increased 89.4% year-over-year to US$5.2 billion.Total number of customers with deposit increased 23.5% year-over-year to 1,152,900. Selected Operating Data for First Quarter 2025 As of and for the three months ended March 31, December 31, March 31, 2024 2024 2025In 000's Number of customer accounts 2,247.4 2,449.3 2,526.7Number of customers with deposits 933.4 1,092.0 1,152.9Number of options and futures contracts traded 10,850.3 18,926.3 20,400.7In USD millions Trading volume 85,410.6 198,016.9 217,453.6Trading volume of stocks 28,606.3 55,502.6 59,453.4Total account balance 32,872.1 41,725.2 45,861.9 First Quarter 2025 Financial Results REVENUES Total revenues were US$122.6 million, an increase of 55.3% from US$78.9 million in the same quarter of last year. Commissions were US$58.3 million, an increase of 109.8% from US$27.8 million in the same quarter of last year, due to an increase in trading volume. Financing service fees were US$2.6 million, a decrease of 9.6% from US$2.8 million in the same quarter of last year, primarily due to a decrease of the account balance of our fully disclosed account customers. Interest income was US$53.8 million, an increase of 22.7% from US$43.8 million in the same quarter of last year, primarily due to the increase in margin financing and securities lending activities of our consolidated account customers. Other revenues were US$7.9 million, an increase of 76.8% from US$4.5 million in the same quarter of last year, primarily due to an increase in currency exchange income and wealth management income. Interest expense was US$15.0 million, an increase of 1.7% from US$14.8 million in the same quarter of last year, primarily due to the increase in funding for margin financing activities. OPERATING COSTS AND EXPENSES Total operating costs and expenses were US$67.1 million, an increase of 32.1% from US$50.8 million in the same quarter of last year. Execution and clearing expenses were US$5.3 million, an increase of 139.3% from US$2.2 million in the same quarter of last year due to an increase in our trading volume. Employee compensation and benefits expenses were US$33.8 million, an increase of 21.7% from US$27.8 million in the same quarter of last year, primarily due to an increase of global headcount to support our global expansion. Occupancy, depreciation and amortization expenses were US$2.1 million, a slight increase of 0.2% from US$2.1 million in the same quarter of last year. Communication and market data expenses were US$9.8 million, an increase of 14.4% from US$8.6 million in the same quarter of last year due to increased IT-related service fees. Marketing and branding expenses were US$10.9 million, an increase of 147.5% from US$4.4 million in the same quarter of last year, primarily due to higher marketing spending this quarter. General and administrative expenses were US$5.1 million, a decrease of 9.4% from US$5.7 million in the same quarter of last year due to a decrease in professional service fees. NET INCOME attributable to ordinary shareholders of UP Fintech Net income attributable to ordinary shareholders of UP Fintech was US$30.4 million, as compared to a net income of US$12.3 million in the same quarter of last year. Net income per ADS – diluted was US$0.166, as compared to a net income per ADS – diluted of US$0.077 in the same quarter of last year. Non-GAAP net income attributable to ordinary shareholders of UP Fintech, which excludes share-based compensation, was US$36.0 million, as compared to a US$14.7 million non-GAAP net income attributable to ordinary shareholders of UP Fintech in the same quarter of last year. Non-GAAP net income per ADS – diluted was US$0.198 as compared to a non-GAAP net income per ADS – diluted of US$0.092 in the same quarter of last year. For the first quarter of 2025, the Company’s weighted average number of ADSs used in calculating non-GAAP net income per ADS – diluted was 184,472,928. As of March 31, 2025, the Company had a total of 2,649,914,037 Class A and B ordinary shares outstanding, or the equivalent of 176,660,936 ADSs. CERTAIN OTHER FINANCIAL ITEMS As of March 31, 2025, the Company's cash and cash equivalents, term deposits and long-term deposits were US$406.4 million, compared to US$396 million as of December 31, 2024. As of March 31, 2025, the allowance for doubtful accounts on receivables from customers was US$14.8 million compared to US$15.3 million as of December 31, 2024. In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2023-08, Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets (“ASU 2023-08”). ASU 2023-08 requires certain crypto assets to be measured at fair value separately on the balance sheet with changes reported in the statement of operations each reporting period. The Company adopted this guidance from January 1, 2025, and the Company recorded such crypto asset balance in Crypto assets held as of March 31, 2025, with a cumulative-effect adjustment of US$2.3 million to the opening balance of Retained earnings. Updates to Management and Directors Mr. Ming Liao departed from the position of Independent Director at the Company due to personal reasons, effective May 28, 2025. Mr. Liao’s departure was not the result from any disagreement with the Company. Conference Call Information: UP Fintech’s management will hold an earnings conference call at 8:00 AM on May 30, 2025, U.S. Eastern Time (8:00 PM on May 30, 2025, Singapore/Hong Kong Time). All participants wishing to attend the call must preregister online before receiving the dial-in number. Preregistration may take a few minutes to complete. Preregistration Information: Please note that all participants will need to pre-register for the conference call, using the link: https://register-conf.media-server.com/register/BId8a2d4cd09e14653b3533b8d3745dfa0 It will automatically lead to the registration page of "UP Fintech Holding Limited First Quarter 2025 Earnings Conference Call", where details for RSVP are needed. Upon registering, all participants will be provided a confirmation email with a participant dial-in number and personal PIN to access the conference call. Please dial in 10 minutes prior to the call start time using the conference access information. Additionally, a live and archived webcast of the conference call will be available at https://ir.itigerup.com Use of Non-GAAP Financial Measures In evaluating our business, we consider and use non-GAAP net income attributable to ordinary shareholders of UP Fintech and non-GAAP net income per ADS - diluted as supplemental measures to review and assess our operating performance. The presentation of the non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with the United States Generally Accepted Accounting Principles (“U.S. GAAP”). We define non-GAAP net income attributable to ordinary shareholders of UP Fintech as net income attributable to ordinary shareholders of UP Fintech excluding share-based compensation. Non-GAAP net income per ADS - diluted is non-GAAP net income attributable to ordinary shareholders of UP Fintech divided by the weighted average number of diluted ADSs. We present these non-GAAP financial measures because they are used by our management to evaluate our operating performance and formulate business plans. Non-GAAP net income attributable to ordinary shareholders of UP Fintech enables our management to assess our operating results without considering the impact of share-based compensation. We also believe that the use of these non-GAAP financial measures facilitates investors' assessment of our operating performance. These non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. These non-GAAP financial measures have limitations as an analytical tool. One of the key limitations of using these non-GAAP financial measures is that they do not reflect all items of income and expenses that affect our operations. Share-based compensation has been and may continue to be incurred in our business and are not reflected in the presentation of non-GAAP net income attributable to ordinary shareholders of UP Fintech. Further, these non-GAAP financial measures may differ from the non-GAAP financial information used by other companies, including peer companies, and therefore their comparability may be limited. These non-GAAP financial measures should not be considered in isolation or construed as alternatives to total operating costs and expenses, net income attributable to ordinary shareholders of UP Fintech or any other measure of performance or as an indicator of our operating performance. Investors are encouraged to review these historical non-GAAP financial measures in light of the most directly comparable GAAP measures. These non-GAAP financial measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting the usefulness of such measures when analyzing our data comparatively. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure. About UP Fintech Holding Limited UP Fintech Holding Limited is a leading online brokerage firm focusing on global investors. The Company’s proprietary mobile and online trading platform enables investors to trade in equities and other financial instruments on multiple exchanges around the world. The Company offers innovative products and services as well as a superior user experience to customers through its “mobile first” strategy, which enables it to better serve and retain current customers as well as attract new ones. The Company offers customers comprehensive brokerage and value-added services, including trade order placement and execution, margin financing, IPO subscription, ESOP management, investor education, community discussion and customer support. The Company’s proprietary infrastructure and advanced technology are able to support trades across multiple currencies, multiple markets, multiple products, multiple execution venues and multiple clearinghouses. For more information on the Company, please visit: https://ir.itigerup.com. Safe Harbor Statement This announcement contains forward−looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward−looking statements can be identified by terminology such as “may,” “might,” “aim,” “likely to,” “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements or expressions. Among other statements, the business outlook and quotations from management in this announcement, the Company’s strategic and operational plans and expectations regarding growth and expansion of its business lines, and the Company’s plans for future financing of its business contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20−F and 6−K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties, including the earnings conference call. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward−looking statements. Forward−looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s ability to effectively implement its growth strategies; trends and competition in global financial markets; changes in the Company’s revenues and certain cost or expense accounting policies; the cooperation relationships with our business partners and shareholders such as Interactive Brokers LLC and Xiaomi Corporation and its affiliates; and governmental policies and regulations affecting the Company’s industry and general economic conditions in China, Singapore and other countries. Further information regarding these and other risks is included in the Company’s filings with the SEC, including the Company’s annual report on Form 20-F filed with the SEC on April 23, 2025. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law. Further information regarding these and other risks is included in the Company’s filings with the SEC. For investor and media inquiries please contact: Investor Relations Contact UP Fintech Holding Limited Email: ir@itiger.com UP FINTECH HOLDING LIMITEDUNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS(All amounts in U.S. dollars ("US$")) As of December 31, As of March 31, 2024 2025 US$ US$ Assets: Cash and cash equivalents 393,576,874 403,891,218 Cash-segregated for regulatory purpose 2,464,683,625 2,849,477,420 Term deposits 1,075,260 1,101,083 Receivables from customers (net of allowance of US$15,284,002 and US$14,790,668 as of December 31, 2024 and March 31, 2025) 1,052,972,649 1,221,616,295 Receivables from brokers, dealers, and clearing organizations 2,305,740,507 2,556,498,087 Financial instruments held, at fair value 75,547,082 177,479,943 Prepaid expenses and other current assets 17,629,819 19,529,054 Amounts due from related parties 16,720,671 13,821,867 Total current assets 6,327,946,487 7,243,414,967 Non-current assets: Long-term deposits 1,369,994 1,378,037 Right-of-use assets 10,880,673 12,736,333 Property, equipment and intangible assets, net 15,358,528 15,750,823 Crypto assets held — 3,410,986 Goodwill 2,492,668 2,492,668 Long-term investments 7,658,809 7,473,531 Equity method investment 10,203,622 10,305,433 Other non-current assets 6,828,553 8,623,671 Deferred tax assets 8,573,135 9,931,234 Total non-current assets 63,365,982 72,102,716 Total assets 6,391,312,469 7,315,517,683 Current liabilities: Payables to customers 3,574,651,125 4,333,279,026 Payables to brokers, dealers and clearing organizations: 1,914,769,701 1,975,967,952 Accrued expenses and other current liabilities 67,263,254 75,891,783 Lease liabilities-current 4,153,928 4,845,376 Amounts due to related parties 874,331 53,588,763 Total current liabilities 5,561,712,339 6,443,572,900 Convertible bonds 159,505,397 160,158,584 Lease liabilities- non-current 5,902,323 6,992,755 Deferred tax liabilities 2,068,661 2,161,995 Total liabilities 5,729,188,720 6,612,886,234 Mezzanine equity Redeemable non-controlling interest 7,177,668 5,518,571 Total Mezzanine equity 7,177,668 5,518,571 Shareholders’ equity: Class A ordinary shares 25,427 25,523 Class B ordinary shares 976 976 Additional paid-in capital 619,030,730 624,497,561 Statutory reserve 12,425,463 12,425,463 Retained earnings 37,843,547 70,712,884 Treasury stock (2,172,819) (2,172,819)Accumulated other comprehensive loss (11,919,310) (8,090,989)Total UP Fintech shareholders’ equity 655,234,014 697,398,599 Non-controlling interests (287,933) (285,721)Total equity 654,946,081 697,112,878 Total liabilities, mezzanine equity and equity 6,391,312,469 7,315,517,683 UP FINTECH HOLDING LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (All amounts in U.S. dollars ("US$"), except for number of shares (or ADSs) and per share (or ADS) data) For the three months ended March 31, December 31, March 31, 2024 2024 2025 US$ US$ US$ Revenues: Commissions 27,786,218 55,964,174 58,307,151 Interest related income Financing service fees 2,832,065 2,770,419 2,560,432 Interest income 43,841,220 55,762,091 53,805,393 Other revenues 4,488,989 9,605,165 7,936,987 Total revenues 78,948,492 124,101,849 122,609,963 Interest expense (14,789,835) (16,731,341) (15,041,810)Total Net revenues 64,158,657 107,370,508 107,568,153 Operating costs and expenses: Execution and clearing (2,230,863) (6,095,132) (5,338,917)Employee compensation and benefits (27,787,218) (37,163,110) (33,805,808)Occupancy, depreciation and amortization (2,144,337) (2,137,586) (2,149,308)Communication and market data (8,561,482) (11,787,814) (9,794,869)Marketing and branding (4,390,987) (9,507,918) (10,867,048)General and administrative (5,667,137) (6,432,737) (5,136,346)Total operating costs and expenses (50,782,024) (73,124,297) (67,092,296)Other income (expense): Others, net 3,615,219 3,469,021 (1,340,064)Income before income tax 16,991,852 37,715,232 39,135,793 Income tax expenses (4,528,297) (9,488,084) (8,549,158)Net income 12,463,555 28,227,148 30,586,635 Less: net (loss) income attributable to non-controlling interests (17,914) 12,563 11,527 Accretion of redeemable non-controlling interests to redemption value (151,322) (164,328) (155,983)Net income attributable to ordinary shareholders of UP Fintech 12,330,147 28,050,257 30,419,125 Other comprehensive income (loss), net of tax: Unrealized gain on available-for-sale investments — 343,892 — Changes in cumulative foreign currency translation adjustment (4,791,040) (17,440,809) 3,826,640 Total Comprehensive income 7,672,515 11,130,231 34,413,275 Less: comprehensive (loss) income attributable to non-controlling interests (13,454) 24,226 9,845 Accretion of redeemable non-controlling interests to redemption value (151,322) (164,328) (155,983)Total Comprehensive income attributable to ordinary shareholders of UP Fintech 7,534,647 10,941,677 34,247,447 Net income per ordinary share: Basic 0.005 0.011 0.012 Diluted 0.005 0.011 0.011 Net income per ADS (1 ADS represents 15 Class A ordinary shares): Basic 0.079 0.164 0.173 Diluted 0.077 0.158 0.166 Weighted average number of ordinary shares used in calculating net income per ordinary share: Basic 2,342,468,897 2,557,911,677 2,634,972,699 Diluted 2,452,022,959 2,687,607,158 2,767,093,920 Reconciliations of Unaudited Non-GAAP Results of Operations Measures to the Nearest Comparable GAAP Measures(All amounts in U.S. dollars ("US$"), except for number of ADSs and per ADS data) For the three months ended March 31,2024 For the three months ended December 31,2024 For the three months ended March 31,2025 non-GAAP non-GAAP non-GAAP GAAP Adjustment non-GAAP GAAP Adjustment non-GAAP GAAP Adjustment non-GAAP US$ US$ US$ US$ US$ US$ US$ US$ US$ Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2,380,637 (1) 2,421,342 (1) 5,621,791 (1) Net income attributable to ordinary shareholders of UP Fintech 12,330,147 2,380,637 14,710,784 28,050,257 2,421,342 30,471,599 30,419,125 5,621,791 36,040,916 Net income per ADS - diluted 0.077 0.092 0.158 0.172 0.166 0.198 Weighted average number of ADSs used in calculating diluted net income per ADS 163,468,197 163,468,197 179,173,811 179,173,811 184,472,928 184,472,928 (1) Share-based compensation.

ForexTV

31.05.2025

Trans Mountain Corporation Releases First Quarter 2025 Financial Results - ForexTV

CALGARY, Alberta, May 30, 2025 (GLOBE NEWSWIRE) -- Trans Mountain Corporation (“TMC” or “the Company”) has released its financial statements and associated management report for the three months ending March 31, 2025. The Company’s financial results are also included in Canada Development Investment Corporation’s (“CDEV”) consolidated quarterly financial statements. Adjusted earnings before interest, taxes, depreciation, and amortization (“EBITDA”) reflect the performance of TMC’s base business. Revenues and Adjusted EBITDA have increased significantly following the commercial commencement of the Expanded System on May 1, 2024. Financial Highlights: EBITDA: For the three-month period ending March 31, 2025, Adjusted EBITDA increased by $532 million to $568 million, compared to $36 million in the same period of the prior year.Capital Structure: In December 2024, Canada TMP Finance Ltd., the entity which holds the Government of Canada’s investment in TMC, provided funding to repay $17.9 billion of guaranteed third-party debt. The refinancing results in lower interest costs for the Company, making additional funds available to optimize the system, grow, pay down debt or increase returns to its shareholder.Capital Return: During the first quarter an aggregate of $311 million was paid to Canada TMP Finance Ltd., consisting of $148 million in interest payments and $163 million in cash dividends. These distributions are expected to grow significantly in 2026 and beyond. Operational Highlights: Throughput: During the first quarter, the Expanded System had an average daily mainline throughput of approximately 757,000 barrels per day (bpd), including 445,000 bpd to Westridge Marine Terminal, 227,000 bpd to Washington state on the Puget Sound Pipeline and 85,000 bpd to BC delivery points.Vessel Traffic: For the three-month period ending March 31, 2025, 74 vessels were loaded at Westridge Marine Terminal, including 29 vessels in March marking a new monthly high for the Expanded System’s operation. Since the commercial commencement of the Expanded System on May 1, 2024, TMC has loaded 266 vessels at the terminal. Third-party information suggests vessel destinations have been broadly split between the US West Coast and Asia.Loading Performance: Ship loading performance remains strong. During the quarter, approximately 90 per cent of ships were loaded on time, with delays attributable to vessel operator factors. Since the commercial commencement of the Expanded System, all deliveries have been subject to the Expanded System tariff and tolls. Contractually committed revenues associated with the 15-and 20-year transportation service contracts covering approximately 80 per cent of the Expanded System’s capacity have resulted in a significant increase to transportation volumes, revenues and Adjusted EBITDA. TMC reported net income of $148 million for the first quarter of 2025, as compared to $158 million in the same period of the prior year. While Adjusted EBITDA reflects the results from the Company’s base business, net income incorporates depreciation and amortization expense, as well as the significant financing impacts of the Trans Mountain Expansion Project (“TMEP”), specifically, the equity allowance for funds used during construction (“AFUDC”), interest expense and capitalized debt financing costs. While net income decreased by $10 million year-over year, the underlying factors changed significantly. Interest expense before capitalized debt financing costs was materially lower, reflecting the recapitalization of TMC’s balance sheet in December 2024. However, these savings were offset by increased depreciation and amortization expense, and the cessation of equity AFUDC and capitalized debt financing costs on TMEP following the commercial commencement of the Expanded System. CEO Comments “Trans Mountain is demonstrating its strategic value to Canada’s economy,” said Mark Maki, Chief Executive Officer, Trans Mountain Corporation. “Our team remains focused on safe, reliable operations as we complete one year of Expanded System operations. The Expanded System has driven strong value to Canada’s energy producers and Canadians overall.” Maki continued, “This critical infrastructure is opening new global markets for Canadian energy, reducing reliance on a single US market and ensuring long-term economic benefits for Canadians. These results reflect the hard work, commitment to safety and collaboration of our dedicated team. For the three-month period ending March 31, 2025, the West Texas Intermediate to Western Canadian Select differential averaged US$13 per barrel (bbl), which was US$4 per bbl narrower than the average of US$17 per bbl in Q1, 2024. While the differential does not directly affect TMC’s operational or financial performance, the commencement of the Expanded System has contributed to greater egress optionality and improved oil prices for Canadian producers in the Western Canada Sedimentary Basin,” concluded Maki. See the full financial statements and management report documents here. See CDEV’s Quarterly Report here. Looking Forward Toll Hearing: TMC continues to operate under an interim toll structure currently before the Canada Energy Regulator (CER). On November 30, 2023, the CER approved preliminary interim tolls for the Expanded System, which remain in effect today. Under the current CER hearing timeline, final arguments are scheduled for late 2025. Optimization Opportunities: Trans Mountain is exploring both short and long-term optimization projects aimed at increasing pipeline capacity by 200,000 bpd to 300,000 bpd. Potential solutions may include the use of drag-reducing agents to increase flow efficiency, as well as other operational enhancements to improve system capabilities. Forward-looking information This news release contains certain statements that constitute forward-looking information within the meaning of applicable Canadian securities laws (“forward-looking information”). Forward-looking information is not historical fact, but instead represents the current expectations of TMC regarding future operating results and other future events relating to TMC, many of which, by their nature, are inherently uncertain and outside of the control of TMC. Forward-looking information can be identified by words or phrases such as “will”, “may”, “expect”, “anticipate”, “believe”, “intend”, “plan”, “seek”, “aim”, “potential”, “should”, “would” and similar words or expressions. Forward-looking information in this news release includes, but is not limited to, expectations regarding future distributions, potential uses of funds resulting from lower interest costs, expected timing for final arguments for the current CER hearing, potential optimization projects and the expected increase in pipeline capacity resulting from such projects. the opening of global markets for Canadian energy and long-term economic benefits resulting from TMC’s infrastructure. Actual results could differ materially from those anticipated in the forward-looking information. The forward-looking information in this news release is based on certain assumptions that TMC has made regarding, among other things: market conditions, economic conditions, prevailing governmental policies, regulatory, tax, and environmental laws and regulations, inflation rates and commodity prices, future demand for space on TMC’s pipeline systems, interest, tax and foreign exchange rates and expected cash flows and availability of funds. Although TMC believes the assumptions and other factors reflected in the forward-looking information are reasonable as of the date hereof, there can be no assurance that these assumptions and factors will prove to be correct and, as such, forward-looking information is not a guarantee of future performance. Forward-looking information is subject to a number of known and unknown risks and uncertainties that could cause actual events or results to differ materially, including, but not limited to: the regulatory environment and decisions, including the outcome of regulatory hearings, the available supply and price of energy commodities, TMC’s ability to successfully implement its strategic priorities, the operating performance of TMC’s pipelines and related assets, performance and credit risk of TMC’s counterparties, the geopolitical environment, actions taken by governmental or regulatory authorities, changes in laws, the occurrence of unexpected events such as fires and severe weather conditions, cyber-attacks and other accidents or similar events and adverse general economic and market conditions or other risk factors, many of which are beyond the control of TMC. The foregoing list of assumptions and risk factors should not be construed as exhaustive. The forward-looking information contained in this news release speaks only as of the date hereof. TMC does not undertake any obligation to publicly update or revise any forward-looking information contained herein, except as required by applicable laws. All forward looking information contained in this news release is expressly qualified by this cautionary statement. GAAP and Non-GAAP measures We make use of certain financial measures that do not have a standardized meaning under U.S. GAAP because we believe they improve management’s ability to evaluate our operating performance and compare results between periods. These are known as non-GAAP measures and may not be similar to measures provided by other entities. The non-GAAP measures discussed above should not be considered as an alternative to or more meaningful than revenues, net income, operating income or other U.S. GAAP measures. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization and equity AFUDC) is a non-GAAP measure we use to evaluate our operating performance and is calculated from its most directly comparable U.S. GAAP measure, operating income but excludes the impact of financing decisions, non-cash depreciation and amortization, and non-cash equity AFUDC. AFUDC (Allowance for Funds Used During Construction) is an amount recognized under U.S. GAAP by rate-regulated entities to reflect a return on the equity and debt components of capital invested in construction work in progress. About Trans Mountain Trans Mountain Corporation (together with its wholly-owned subsidiaries, “Trans Mountain”) operates Canada’s only pipeline system transporting oil products to the West Coast. Trans Mountain is a wholly owned entity of Canada TMP Finance Ltd., a subsidiary of Canada Development Investment Corporation (CDEV), the entity which holds the Government of Canada’s investment in TMC. We have nominal capacity to deliver 890,000 barrels of petroleum products each day through a pipeline system of more than 1,180 kilometres of pipeline in Alberta, British Columbia and 111 kilometres of pipeline in Washington state. Trans Mountain also operates a state-of-the-art loading facility, Westridge Marine Terminal, with three berths providing tidewater access to global markets. As a federal Crown corporation, Trans Mountain continues to build on more than 70 years of experience delivering operational and safety excellence through our crude oil pipeline system. To learn more, visit us at www.transmountain.com. CONTACT: For more information email: media@transmountain.com

Clever Dude

04.06.2025

The 7 Worst Car Brands For Depreciation

Some cars lose value faster than others. Here are 7 car brands known for rapid depreciation that could hurt your wallet in resale.

ForexTV

06.06.2025

Burning Rock Reports First Quarter 2025 Financial Results - ForexTV

GUANGZHOU, China, June 06, 2025 (GLOBE NEWSWIRE) -- Burning Rock Biotech Limited (NASDAQ: BNR, the “Company” or “Burning Rock”), a company focused on the application of next generation sequencing (NGS) technology in the field of precision oncology, today reported financial results for the three months ended March 31, 2025. Recent Business Updates Therapy Selection and MRD Personalized Minimal Residual Disease (MRD) product, CanCatch® Custom supports advancement in oesophageal squamous cell carcinoma（OSCC）treatment, with results published in the Molecular Cancer in May 2025. The study is a two-arm, multicenter, randomized, double-blind phase 2 study, comparing the efficacy of systemic treatment combining nCT with immunotherapy against nCT alone for OSCC patients. The study demonstrates that Perioperative Nivolumab plus chemotherapy is a viable and safe option for systemically treating locally advanced resectable OSCC, and monitoring minimal residual disease through ctDNA could be potentially valuable for assessing the effectiveness of adjuvant therapy and for prognostic evaluation in a systemic manner.Presented study results on non-small cell lung cancer and gastrointestinal stromal tumor (GIST) at the ASCO in June 2025. “Personalized tumor-informed ctDNA has the potential to inform recurrence in high-risk locally advanced stage GIST patients, especially for patients with irregular adjuvant therapy” and “MUSETALK-Lung01 (MUltiomics SEquencing Technique AppLication Kick-start) is a prospective, longitudinal, observational study designed to evaluate the clinical utility of a tumor-naïve ctDNA assay in patients with early-stage non-small cell lung cancer (NSCLC).”Presented multiple study results at the 2025 AACR in April, showcasing the clinical utility of the tumor-informed personalized MRD assay (CanCatch® Custom) and the tumor-naïve methylation-based MRD assay. First Quarter 2025 Financial Results Revenues were RMB133.1 million (US$18.3 million) for the three months ended March 31, 2025, representing a 5.9% increase from RMB125.6 million for the same period in 2024. Revenue generated from central laboratory business was RMB38.3 million (US$5.3 million) for the three months ended March 31, 2025, representing a 19.6% decrease from RMB47.6 million for the same period in 2024, primarily attributable to a decrease in the number of tests, as we continued to focus on our in-hospital business.Revenue generated from in-hospital business was RMB57.7 million (US$7.9 million) for the three months ended March 31, 2025, representing a 0.5% increase from RMB57.4 million for the same period in 2024, driven by a continuous growth in sales volume.Revenue generated from pharma research and development services was RMB37.1 million (US$5.1 million) for the three months ended March 31, 2025, representing a 79.9% increase from RMB20.6 million for the same period in 2024, primarily attributable to increased development and testing services performed for our pharma customers, and several milestones of our pharma programs were achieved. Cost of revenues was RMB35.7 million (US$4.9 million) for the three months ended March 31, 2025, representing a 10.6% decrease from RMB39.9 million for the same period in 2024, primarily due to a decrease in cost of central laboratory business, which was in line with the decrease in revenue generated from this business. Gross profit was RMB97.4 million (US$13.4 million) for the three months ended March 31, 2025, representing a 13.7% increase from RMB85.7 million for the same period in 2024. Gross margin was 73.2% for the three months ended March 31, 2025, compared to 68.2% for the same period in 2024. By channel, gross margin of central laboratory business was 84.1% for the three months ended March 31, 2025, compared to 77.7% during the same period in 2024, primarily due to a reduction in material and labor costs resulted from cost optimization and control measures and a decreased depreciation and rental cost in relation to our laboratory of Guangzhou headquarter; gross margin of in-hospital business was 76.1% for the three months ended March 31, 2025, compared to 68.3% during the same period in 2024, primarily due to the same reason; gross margin of pharma research and development services was 57.5% for the three months ended March 31, 2025, compared to 46.1% during the same period of 2024, primarily due to the cost optimization measures and an increase in test volume of higher margin projects. Non-GAAP gross profit, which excludes depreciation and amortization expenses, RMB100.7 million (US$13.9 million) for the three months ended March 31, 2025, representing an 8.3% increase from RMB93.0 million for the same period in 2024. Non-GAAP gross margin was 75.6% for the three months ended March 31, 2025, compared to 74.0% for the same period in 2024. Operating expenses were RMB112.6 million (US$15.5 million) for the three months ended March 31, 2025, representing a 46.8% decrease from RMB211.5 million for the same period in 2024. The decrease was primarily driven by budget control measures and headcount reduction to improve the Company’s operating efficiency. Research and development expenses were RMB40.4 million (US$5.6 million) for the three months ended March 31, 2025, representing a 38.8% decrease from RMB66.0 million for the same period in 2024, primarily due to (i) a decrease in amortized expense on share-based compensation; (ii) a decrease in the expenditure for detection research and (iii) a decrease in depreciation and amortization.Selling and marketing expenses were RMB40.9 million (US$5.6 million) for the three months ended March 31, 2025, representing a 12.7% decrease from RMB46.9 million for the same period in 2024, primarily due to (i) a decrease in staff cost resulted from the reorganization of our sales department to improve operating efficiency and (ii) a decrease in depreciation and amortization.General and administrative expenses were RMB31.3 million (US$4.3 million) for the three months ended March 31, 2025, representing a 68.3% decrease from RMB98.7 million for the same period in 2024, primarily due to (i) a decrease in amortized expense on share-based compensation; (ii) a decrease in depreciation and amortization; (iii) a decrease in staff cost resulted from the reorganization; and (iv) a decrease in operating lease expense for office building. Net loss was RMB13.5 million (US$1.9 million) for the three months ended March 31, 2025, compared to RMB121.5 million for the same period in 2024. Cash, cash equivalents and restricted cash were RMB497.4 million (US$68.5 million) as of March 31, 2025. Exchange Rate Information This press release contains translations of certain Renminbi amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from Renminbi to U.S. dollars and from U.S. dollars to Renminbi are made at a rate of RMB7.2567 to US$1.00, the exchange rate on March 31, 2025, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the Renminbi or U.S. dollars amounts referred could be converted into U.S. dollars or Renminbi, as the case may be, at any particular rate or at all. About Burning Rock Burning Rock Biotech Limited (NASDAQ: BNR), whose mission is to guard life via science, focuses on the application of next generation sequencing (NGS) technology in the field of precision oncology. Its business consists of i) NGS-based therapy selection testing for late-stage cancer patients, and ii) cancer early detection, which has moved beyond proof-of-concept R&D into the clinical validation stage. For more information about Burning Rock, please visit: ir.brbiotech.com. Safe Harbor Statement This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “target,” “confident” and similar statements. Burning Rock may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Burning Rock’s beliefs and expectations, are forward-looking statements. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Burning Rock’s control. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. All information provided in this press release is as of the date of this press release, and Burning Rock does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law. Non-GAAP Measures In evaluating the business, the Company considers and uses non-GAAP measures, such as non-GAAP gross profit and non-GAAP gross margin, as supplemental measures to review and assess operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The company defines non-GAAP gross profit as gross profit excluding depreciation and amortization. The company defines non-GAAP gross margin as gross margin excluding depreciation and amortization. The company presents these non-GAAP financial measures because they are used by management to evaluate operating performance and formulate business plans. The company believe non-GAAP gross profit and non-GAAP gross margin excluding non-cash impact of depreciation and amortization reflect the company’s ongoing business operations in a manner that allows more meaningful period-to-period comparisons. Contact: IR@brbiotech.com Selected Operating Data As of March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 March 31, 2025In-hospital Channel: Pipeline partner hospitals(1)28 29 30 29 30Contracted partner hospitals(2)59 59 61 63 63Total number of partner hospitals87 88 91 92 93 (1)Refers to hospitals that are in the process of establishing in-hospital laboratories, laboratory equipment procurement or installation, staff training or pilot testing using the Company’s products.(2)Refers to hospitals that have entered into contracts to purchase the Company’s products for use on a recurring basis in their respective in-hospital laboratories the Company helped them establish. Kit revenue is generated from contracted hospitals. Selected Financial Data For the three months endedRevenuesMarch 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 March 31, 2025 (RMB in thousands)Central laboratory channel47,614 48,773 39,984 39,278 38,296In-hospital channel57,387 59,872 63,769 43,464 57,687Pharma research and development channel20,622 26,888 24,891 43,280 37,099Total revenues125,623 135,533 128,644 126,022 133,082 For the three months endedGross profitMarch 31,2024 June 30,2024 September 30,2024 December 31,2024 March 31,2025 (RMB in thousands)Central laboratory channel37,002 38,424 33,262 33,153 32,191In-hospital channel39,192 44,058 46,580 29,563 43,895Pharma research and development channel9,500 12,956 12,004 26,706 21,315Total gross profit85,694 95,438 91,846 89,422 97,401 For the three months endedShare-based compensation expensesMarch 31,2024 June 30,2024 September 30,2024 December 31,2024 March 31,2025 (RMB in thousands)Cost of revenues596 464 289 520 308Research and development expenses12,287 12,008 3,180 3,202 1,800Selling and marketing expenses508 1,232 1,917 1,353 1,025General and administrative expenses55,990 54,407 4,732 2,937 1,413Total share-based compensation expenses69,381 68,111 10,118 8,012 4,546 Burning Rock Biotech Limited Unaudited Condensed Statements of Comprehensive Loss (in thousands, except for number of shares and per share data) For the three months ended March 31,2024 June 30,2024 September 30, 2024 December 31,2024 March 31, 2025 March 31, 2025 RMB RMB RMB RMB RMB US$Revenues125,623 135,533 128,644 126,022 133,082 18,340 Cost of revenues(39,929) (40,095) (36,798) (36,600) (35,681) (4,918)Gross profit85,694 95,438 91,846 89,422 97,401 13,422 Operating expenses: Research and development expenses(65,985) (64,952) (49,150) (52,203) (40,389) (5,566)Selling and marketing expenses(46,856) (48,907) (48,411) (46,730) (40,888) (5,635)General and administrative expenses(98,681) (92,794) (32,874) (37,289) (31,303) (4,314)Impairment loss on long-lived assets (35,127) Total operating expenses(211,522) (206,653) (130,435) (171,349) (112,580) (15,515)Loss from operations(125,828) (111,215) (38,589) (81,927) (15,179) (2,093)Interest income4,038 3,187 3,173 1,814 2,581 356 Other income (expense), net434 (82) 1 4,353 (652) (90)Foreign exchange (loss) gain, net(13) 262 (129) (220) (26) (4)Loss before income tax(121,369) (107,848) (35,544) (75,980) (13,276) (1,831)Income tax expenses(180) (190) (201) (5,314) (224) (31)Net loss(121,549) (108,038) (35,745) (81,294) (13,500) (1,862)Net loss attributable to Burning Rock Biotech Limited’s shareholders(121,549) (108,038) (35,745) (81,294) (13,500) (1,862)Net loss attributable to ordinary shareholders(121,549) (108,038) (35,745) (81,294) (13,500) (1,862)Loss per share for class A and class B ordinary shares: Class A ordinary shares - basic and diluted(1.19) (1.05) (0.35) (0.79) (0.13) (0.02)Class B ordinary shares - basic and diluted(1.19) (1.05) (0.35) (0.79) (0.13) (0.02)Weighted average shares outstanding used in loss per share computation: Class A ordinary shares - basic and diluted85,219,188 85,271,858 85,902,670 86,036,286 90,291,658 90,291,658 Class B ordinary shares - basic and diluted17,324,848 17,324,848 17,324,848 17,324,848 17,324,848 17,324,848 Other comprehensive income (loss), net of tax of nil: Foreign currency translation adjustments590 940 (4,054) 6,009 (72) (10)Total comprehensive loss(120,959) (107,098) (39,799) (75,285) (13,572) (1,872)Total comprehensive loss attributable to Burning Rock Biotech Limited’s shareholders(120,959) (107,098) (39,799) (75,285) (13,572) (1,872) Burning Rock Biotech LimitedUnaudited Condensed Consolidated Balance Sheets(In thousands) As of December 31, 2024 March 31,2025 March 31,2025 RMB RMB US$ASSETS Current assets: Cash and cash equivalents519,849 495,145 68,233Restricted cash2,313 2,261 312Accounts receivable, net152,013 159,463 21,974Contract assets, net13,855 17,178 2,367Inventories, net62,625 65,424 9,016Prepayments and other current assets, net25,963 22,072 3,042Total current assets776,618 761,543 104,944Non-current assets: Property and equipment, net47,152 41,162 5,672Operating right-of-use assets53,188 43,804 6,036Intangible assets, net421 386 53Other non-current assets7,926 7,822 1,078Total non-current assets108,687 93,174 12,839TOTAL ASSETS885,305 854,717 117,783 Burning Rock Biotech LimitedUnaudited Condensed Consolidated Balance Sheets (Continued)(in thousands) As of December 31,2024 March 31,2025 March 31,2025 RMB RMB US$LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable33,747 35,938 4,952 Deferred revenue117,895 117,200 16,151 Accrued liabilities and other current liabilities89,498 76,198 10,501 Customer deposits592 592 82 Current portion of operating lease liabilities24,567 22,524 3,104 Total current liabilities266,299 252,452 34,790 Non-current liabilities: Non-current portion of operating lease liabilities27,754 19,814 2,730 Other non-current liabilities10,425 10,649 1,467 Total non-current liabilities38,179 30,463 4,197 TOTAL LIABILITIES304,478 282,915 38,987 Shareholders’ equity: Class A ordinary shares124 124 17 Class B ordinary shares21 21 3 Additional paid-in capital5,002,255 5,005,991 689,844 Treasury stock(63,264) (62,453) (8,606)Accumulated deficits(4,200,261) (4,213,761) (580,672)Accumulated other comprehensive loss(158,048) (158,120) (21,790)Total shareholders’ equity580,827 571,802 78,796 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY885,305 854,717 117,783 Burning Rock Biotech LimitedUnaudited Condensed Statements of Cash Flows(in thousands) For the three months ended March 31,2024 March 31,2025 March 31,2025 RMB RMB US$Net cash generated from (used in) operating activities19,062 (23,527) (3,242)Net cash used in investing activities(812) (1,531) (211)Net cash used in financing activities(74) - - Effect of exchange rate on cash, cash equivalents and restricted cash5,739 302 43 Net increase in (decrease) cash, cash equivalents and restricted cash23,915 (24,756) (3,410)Cash, cash equivalents and restricted cash at the beginning of period498,247 522,162 71,955 Cash, cash equivalents and restricted cash at the end of period522,162 497,406 68,545 Burning Rock Biotech LimitedReconciliations of GAAP and Non-GAAP Results For the three months ended March 31,2024 June 30,2024 September 30,2024 December 31,2024 March 31,2025 (RMB in thousands)Gross profit: Central laboratory channel37,002 38,424 33,262 33,153 32,191In-hospital channel39,192 44,058 46,580 29,563 43,895Pharma research and development channel9,500 12,956 12,004 26,706 21,315Total gross profit85,694 95,438 91,846 89,422 97,401Add: depreciation and amortization: Central laboratory channel1,919 1,226 1,277 1,010 562In-hospital channel1,524 824 798 623 290Pharma research and development channel3,856 4,417 3,846 2,534 2,412Total depreciation and amortization included in cost of revenues7,299 6,467 5,921 4,167 3,264Non-GAAP gross profit： Central laboratory channel38,921 39,650 34,539 34,163 32,753In-hospital channel40,716 44,882 47,378 30,186 44,185Pharma research and development channel13,356 17,373 15,850 29,240 23,727Total non-GAAP gross profit92,993 101,905 97,767 93,589 100,665Non-GAAP gross margin： Central laboratory channel81.7% 81.3% 86.4% 87.0% 85.5%In-hospital channel70.9% 75.0% 74.3% 69.5% 76.6%Pharma research and development channel64.8% 64.6% 63.7% 67.6% 64.0%Total non-GAAP gross margin74.0% 75.2% 76.0% 74.3% 75.6%

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