SHANGHAI - Nisun International Enterprise Development Group Co., Ltd (NASDAQ:NISN), a provider of integrated supply chain solutions, has pre-announced a significant revenue increase for the first half of 2024. The company expects to report record revenue of approximately $192.5 million, a 52% rise compared to $126.9 million during the same period in the previous year. Additionally, Nisun International anticipates earnings per share (EPS) for the first half of the year to be around $2.61.
These preliminary financial results are based on currently available management information and may be subject to adjustments following the company's year-end closing procedures. The unaudited financial figures released do not represent a complete overview of Nisun International's financial position or its operational results for the period in question. The company has indicated that there is a possibility of material adjustments to these preliminary figures due to risks and uncertainties.
Nisun International plans to publish its full unaudited financial results for the first half of 2024 by October 15, 2024, and will also hold a conference call to discuss these results. The details of the conference call will be provided in a forthcoming press release.
The company, which focuses on transforming the corporate finance industry through technology, offers supply chain management solutions and digital transformation services to both Chinese and foreign enterprises and financial institutions. Nisun International also seeks to integrate industry and finance to support supply-side sub-sector reform.
The information in this article is based on a press release statement from Nisun International. It is important to note that forward-looking statements made by the company are subject to various factors that could cause actual results to differ materially from those projected.
In other recent news, Nisun International Enterprise Development Group Co., Ltd has achieved several significant milestones. The company's gold trading business has crossed a major threshold, generating approximately $240 million in cumulative revenue. This financial feat underscores Nisun International's successful expansion into the gold supply chain trading sector.
In a notable demonstration of confidence, the company's principal shareholder, Mr. Bodang Liu, has increased his stake from 19.36% to 21.92%, acquiring an additional 102,700 shares. This translates to an investment of approximately $999,156, reinforcing the company's solid fundamentals.
On the regulatory front, Nisun International has regained compliance with Nasdaq's periodic filing requirements, resolving previous concerns regarding its listing on the exchange. Despite receiving a non-compliance notice from Nasdaq due to a delay in filing its annual report, the trading of Nisun's Class A common shares remains unaffected.
In a significant stride towards expanding its grain business, Nisun International has secured a procurement deal for over 50,000 tons of corn. This move is expected to enhance the company's capacity to deliver stable and efficient grain solutions. These are the recent developments for Nisun International Enterprise Development Group Co., Ltd.
InvestingPro Insights
Nisun International's impressive preliminary financial results for the first half of 2024 are further supported by data from InvestingPro. The company's strong performance is reflected in its robust revenue growth, with InvestingPro data showing a 65.12% increase in revenue over the last twelve months as of Q4 2023. This aligns with the pre-announced 52% revenue rise for the first half of 2024.
InvestingPro Tips highlight that Nisun International is trading at a low Price / Book multiple of 0.38, suggesting the stock may be undervalued relative to its assets. Additionally, the company holds more cash than debt on its balance sheet, indicating a strong financial position that could support its continued growth trajectory.
The company's profitability is also noteworthy, with an InvestingPro Tip pointing out that Nisun International has been profitable over the last twelve months. This is corroborated by the adjusted P/E ratio of 3.46, which is relatively low and could indicate an attractive valuation considering the company's growth prospects.
Investors should note that Nisun International has shown exceptional stock performance, with InvestingPro data revealing a staggering 726.72% price total return over the past year. This remarkable growth aligns with the company's strong financial results and positive outlook.
For those interested in a deeper analysis, InvestingPro offers 13 additional tips for Nisun International, providing a comprehensive view of the company's financial health and market position.
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