ChinaNet Online Holdings, Inc. (Nasdaq:CNET) ("ChinaNet" or the
"Company"), a pioneering data-analysis platform in China harnessing
blockchain as well as digital advertising and marketing
technologies to serve SMEs and the franchise chain industry, today
announced its unaudited financial results for the third quarter and
first nine months of 2019.
Recent DevelopmentsOn September
25, 2019, the Company closed the first half of a private placement
with a select group of investors (the “Investors”) in accordance
with the Securities Purchase Agreement, originally entered into by
the Company and Investors on August 7, 2019. In connection with the
closing, the Company issued 1,608,430 shares of common stock (the
“Shares”) in consideration for approximately $2.4 million,
representing half of the total $4.8 million worth of Shares to be
disbursed under the aforementioned Securities Purchase Agreement.
The Company sold each Share to Investors at $1.4927 per Share and
conducted the private placement pursuant to Section 4(2) of the
Securities Act of 1933, as amended, and Regulation S promulgated
thereunder.
On October 14, 2019, the Company announced the
appointment of Centurion ZD CPA & Co. (“CZD”) on October 7,
2019, as the Company’s independent registered public accounting
firm for the fiscal year ending December 31, 2019. CZD replaced the
Company’s previous independent registered public accounting firm
Marcum Bernstein & Pinchuk LLP (“MarcumBP”), which the Company
dismissed on October 7, 2019. The change of the Company’s
independent registered public accounting firm was approved by the
Audit Committee of ChinaNet’s Board of Directors.
On October 28, 2019, the Company closed the
second half of a private placement with a select group of investors
(the “Investors”) in accordance with the Securities Purchase
Agreement, originally entered into by the Company and Investors on
August 7, 2019. In connection with the closing, the Company issued
1,608,430 shares of common stock (the “Shares”) in consideration
for approximately $2.4 million, representing half of the total $4.8
million worth of Shares to be disbursed under the aforementioned
Securities Purchase Agreement. Pursuant to the Securities Purchase
Agreement, the Company totally issued 3,216,860 shares of its
common stock in consideration for approximately $4.8 million. The
Company sold each Share to Investors at $1.4927 per Share and
conducted the private placement pursuant to Section 4(2) of the
Securities Act of 1933, as amended, and Regulation S promulgated
thereunder.
“Despite the challenging macro headwinds and
evolving industry landscape, we continued to stay the course and
maintain alignment with our long-term growth strategies,” commented
Mr. Handong Cheng, Chairman, President, and Chief Executive Officer
of ChinaNet. “During the quarter, we actively adjusted our search
engine marketing business by refining our customer payment
requirements, bolstering our management process for accounts
receivables, and actively engaging with our key partners in
dialogues, we made significant headway towards improving our access
to search engine resources. We also stepped up investments to
enhance the effectiveness of our sales lead generation
capabilities. Notably, these investments enabled us to improve both
the accuracy of ads on the Company’s ad portals and boost customer
satisfaction. Going forward, we will continue to prudently manage
and refine our search engine marketing services business and
advertising business, both of which we believe will continue to
serve as meaningful growth drivers going forward.
In addition, the successful execution of the
private placement from strategic investors has provided ChinaNet
with the necessary components to execute its growth strategies and
fully capitalize on the coming opportunities for expansion. The
combination of our strategic investors’ commercial and
technological resources will further enable us to penetrate both
domestic and international markets while cultivating synergies
across business lines. In addition, this capital injection will
also shore up our position against the current macro challenges and
bolster our investment capabilities in turn, further enabling us to
develop new revenue streams through prudent investment. Looking
ahead, we are confident that our ability to integrate our industry
leadership with strategic partner resources will supercharge our
ability to capture the emerging growth opportunities in both
domestic and international markets.”
Third Quarter 2019 Financial
Results
TOTAL REVENUES Total revenues
for the third quarter of 2019 were $15.5 million compared to $17.0
million in the corresponding period of 2018. This decrease was
primarily caused by reduced revenues generated from the
distribution of search engine marketing services for key search
engines in the third quarter of 2019.
Revenues generated from the distribution of
rights to use search engine marketing services provided by key
search engines decreased to $11.6 million in the third quarter of
2019 from $14.5 million in the corresponding period of 2018. Since
the second quarter of 2019, the Company’s key suppliers have
tightened their credit policies, thus increasing the amount of
working capital required to maintain the same volume of search
engine resources as in the corresponding period of 2018. However,
in response to this credit policy change, the Company has started
to require its customers to pay more in advance, strengthened its
management process for account receivables, and actively engaged in
negotiations with its key suppliers for more favorable credit
policies to improve the situation.
Internet advertising revenues for the third
quarter of 2019 increased by 57.5% to $3.9 million from $2.5
million in the corresponding period of 2018. Such growth was
attributable to additional investments made towards increasing the
effectiveness of the Company’s sales lead generation capabilities.
Notably, such investments helped to both improve the effectiveness
of ads on the Company’s ad portals while also increasing customer
satisfaction in turn.
COST OF REVENUES AND GROSS
PROFIT Cost of revenues decreased to $14.6 million in the
third quarter of 2019 from $16.6 million in the corresponding
period of 2018. This decrease was primarily due to the decrease in
costs associated with the distribution of search engine marketing
services from key search engines, which was in line with the
decrease in the related revenues during the quarter.
Gross profit in the third quarter of 2019 was
$0.89 million, compared to $0.39 million in the corresponding
period of 2018. Gross margin improved to 5.8% in the third quarter
of 2019 from 2.3% in the corresponding period of 2018.
OPERATING LOSSOperating
expenses decreased to $1.2 million in the third quarter of 2019
from $3.7 million in the corresponding period of 2018. As a
percentage of total revenues, operating expenses reduced to 7.5% in
the third quarter of 2019 from 22.0% in the corresponding period of
2018.
Sales and marketing expenses in the third
quarter of 2019 decreased to $0.11 million from $0.24 million in
the corresponding period of 2018. This decrease was primarily
attributable to the Company’s successful execution of cost control
initiatives and the subsequent decrease in staff salary and benefit
expenses as well as other general departmental expenses.
General and administrative expenses in the third
quarter of 2019 decreased to $0.82 million from $1.74 million in
the corresponding period of 2018. The reduction in general and
administrative expenses was primarily due to decrease in allowance
for doubtful accounts provided and the Company’s optimization of
its cost structures as well as decreases to professional service
expenses, salary and benefit expenses, and other general office
expenses.
Research and development expenses in the third
quarter of 2019 decreased to $0.24 million from $0.26 million in
the corresponding period of 2018.
In the third quarter of 2018, the Company
incurred a $1.5 million impairment loss in intangible assets. No
such impairment loss was recognized by the Company in the third
fiscal quarter of 2019.
As a result, operating loss in the third quarter
of 2019 narrowed significantly to $0.28 million from $3.4 million
in the corresponding period of 2018.
NET LOSSNet loss attributable
to ChinaNet Online Holdings, Inc. was $0.39 million in the third
quarter of 2019, compared to $3.0 million in the corresponding
period of 2018.
BALANCE SHEETAs of September
30, 2019, the Company had cash and cash equivalents of $0.81
million, compared to $3.7 million as of December 31, 2018. Advances
from customers grew to $5.1 million as of September 30, 2019,
increasing significantly from $1.1 million as of December 31,
2018.
First Nine Months 2019 Financial
ResultsFor the first nine months of 2019, total revenues
were $39.5 million, compared to $47.8 million in the same period of
2018. Internet advertising revenues for the first half of 2019
increased by 27.8% to $9.4 million from $7.3 million in the
corresponding period of 2018. The growth of revenues generated
through internet advertising services was attributable to the same
reasons that led to a quarterly increase.
Gross profit for the first nine months of 2019
was $1.7 million, compared to $2.0 million in the same period of
2018. Gross margin for the first nine months of 2019 improved to
4.3% from 4.1% in the same period of 2018.
Operating expenses for the first nine months of
2019 decreased to $3.9 million from $15.1 million in the same
period of 2018. As a percentage of total revenues, operating
expenses for the first nine months of 2019 reduced significantly to
10.0% from 31.5% in the same period of 2018.
Sales and marketing expenses for the first nine
months of 2019 decreased to $0.46 million from $1.1 million in the
same period of 2018. General and administrative expenses for the
first nine months of 2019 decreased to $2.9 million from $4.6
million in the same period of 2018. Research and development
expenses for the first nine months of 2019 decreased to $0.60
million from $0.72 million in the same period of 2018.
Net loss attributable to ChinaNet Online
Holdings, Inc. for the first nine months of 2019 narrowed to $1.9
million from $12.9 million in the same period of 2018 as a result
of significantly reduced operating expenses.
About ChinaNet Online Holdings,
Inc.ChinaNet Online Holdings, Inc., a parent company of
ChinaNet Online Media Group Ltd., incorporated in the BVI
(ChinaNet), is an integrated online advertising, precision
marketing and data-analysis and management services platform.
ChinaNet provides prescriptive analysis for its clients to improve
business outcomes and to create more efficient enterprises. The
Company leverages an optimization framework, provided by its
comprehensive data-analysis infrastructure, to blend data,
mathematical, and computational sciences into an outcome management
platform for which it monetizes on a per client basis. ChinaNet
uniquely optimizes and prescribes its clients decision making
processes based on its proprietary ecosystem. For more information,
visit www.chinanet-online.com.
Safe Harbor StatementThis
release contains certain "forward-looking statements" relating to
the business of ChinaNet Online Holdings, Inc., which can be
identified by the use of forward-looking terminology such as
"believes," "expects," "anticipates," "estimates" or similar
expressions. Such forward-looking statements involve known and
unknown risks and uncertainties, including business uncertainties
relating to government regulation of our industry, market demand,
reliance on key personnel, future capital requirements, competition
in general and other factors that may cause actual results to be
materially different from those described herein as anticipated,
believed, estimated or expected. Certain of these risks and
uncertainties are or will be described in greater detail in our
filings with the Securities and Exchange Commission. These
forward-looking statements are based on ChinaNet's current
expectations and beliefs concerning future developments and their
potential effects on the Company. There can be no assurance that
future developments affecting ChinaNet will be those anticipated by
ChinaNet. These forward-looking statements involve a number of
risks, uncertainties (some of which are beyond the control of the
Company) or other assumptions that may cause actual results or
performance to be materially different from those expressed or
implied by such forward-looking statements. ChinaNet undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required under applicable securities
laws.
Investor Relations ContactICR,
Inc.Jack WangTel: +1-646-308-1635Email: CNET@icrinc.com
|
|
|
CHINANET ONLINE HOLDINGS, INC. CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE
LOSS (In thousands, except for number of shares and per
share data) |
|
|
|
|
|
Nine Months Ended September 30, |
|
Three Months Ended September 30, |
|
|
|
|
2019 |
|
|
|
2018 |
|
|
|
2019 |
|
|
|
2018 |
|
|
|
|
(US $) |
|
(US $) |
|
(US $) |
|
(US $) |
| |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
| Revenues |
|
|
|
|
|
|
|
|
|
From unrelated parties |
|
$ |
39,025 |
|
|
$ |
47,822 |
|
|
$ |
15,113 |
|
|
$ |
17,042 |
|
|
From a related party |
|
|
503 |
|
|
|
- |
|
|
|
395 |
|
|
|
- |
|
| Total revenues |
|
|
39,528 |
|
|
|
47,822 |
|
|
|
15,508 |
|
|
|
17,042 |
|
|
Cost of revenues |
|
|
37,828 |
|
|
|
45,860 |
|
|
|
14,616 |
|
|
|
16,649 |
|
|
Gross profit |
|
|
1,700 |
|
|
|
1,962 |
|
|
|
892 |
|
|
|
393 |
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses |
|
|
|
|
|
|
|
|
|
Sales and marketing expenses |
|
|
461 |
|
|
|
1,083 |
|
|
|
111 |
|
|
|
239 |
|
|
General and administrative expenses |
|
|
2,875 |
|
|
|
4,580 |
|
|
|
817 |
|
|
|
1,738 |
|
|
Research and development expenses |
|
|
599 |
|
|
|
722 |
|
|
|
239 |
|
|
|
264 |
|
|
Impairment on intangible assets |
|
|
- |
|
|
|
3,380 |
|
|
|
- |
|
|
|
1,502 |
|
|
Impairment on goodwill |
|
|
- |
|
|
|
5,289 |
|
|
|
- |
|
|
|
- |
|
|
Total operating expenses |
|
|
3,935 |
|
|
|
15,054 |
|
|
|
1,167 |
|
|
|
3,743 |
|
| |
|
|
|
|
|
|
|
|
| Loss from
operations |
|
|
(2,235 |
) |
|
|
(13,092 |
) |
|
|
(275 |
) |
|
|
(3,350 |
) |
| |
|
|
|
|
|
|
|
|
|
Other income (expenses) |
|
|
|
|
|
|
|
|
|
Impairment on long-term investments |
|
|
- |
|
|
|
(460 |
) |
|
|
- |
|
|
|
- |
|
|
Interest expense, net |
|
|
(33 |
) |
|
|
(25 |
) |
|
|
(10 |
) |
|
|
(6 |
) |
|
Other expenses |
|
|
(6 |
) |
|
|
(30 |
) |
|
|
(2 |
) |
|
|
(2 |
) |
|
Change in fair value of warrant liabilities |
|
|
351 |
|
|
|
1,449 |
|
|
|
(120 |
) |
|
|
501 |
|
|
Total other income/(expenses) |
|
|
312 |
|
|
|
934 |
|
|
|
(132 |
) |
|
|
493 |
|
| |
|
|
|
|
|
|
|
|
| Loss before income tax
benefit/(expense) and noncontrolling interests |
|
|
(1,923 |
) |
|
|
(12,158 |
) |
|
|
(407 |
) |
|
|
(2,857 |
) |
|
Income tax benefit/(expenses) |
|
|
10 |
|
|
|
(805 |
) |
|
|
16 |
|
|
|
(116 |
) |
| Net loss |
|
|
(1,913 |
) |
|
|
(12,963 |
) |
|
|
(391 |
) |
|
|
(2,973 |
) |
|
Net loss attributable to noncontrolling interests |
|
|
8 |
|
|
|
75 |
|
|
|
3 |
|
|
|
20 |
|
| Net loss attributable to
ChinaNet Online Holdings, Inc. |
|
$ |
(1,905 |
) |
|
$ |
(12,888 |
) |
|
$ |
(388 |
) |
|
$ |
(2,953 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss |
|
$ |
(1,913 |
) |
|
$ |
(12,963 |
) |
|
$ |
(391 |
) |
|
$ |
(2,973 |
) |
| Foreign currency translation
gain/(loss) |
|
|
97 |
|
|
|
24 |
|
|
|
73 |
|
|
|
(36 |
) |
| Comprehensive
loss |
|
$ |
(1,816 |
) |
|
$ |
(12,939 |
) |
|
$ |
(318 |
) |
|
$ |
(3,009 |
) |
| Comprehensive loss attributable
to noncontrolling interests |
|
|
6 |
|
|
|
69 |
|
|
|
1 |
|
|
|
20 |
|
| Comprehensive
loss attributable to
ChinaNet Online Holdings, Inc. |
|
$ |
(1,810 |
) |
|
$ |
(12,870 |
) |
|
$ |
(317 |
) |
|
$ |
(2,989 |
) |
| |
|
|
|
|
|
|
|
|
| Loss per
share |
|
|
|
|
|
|
|
|
| Loss per common share |
|
|
|
|
|
|
|
|
|
Basic and diluted |
|
$ |
(0.12 |
) |
|
$ |
(0.82 |
) |
|
$ |
(0.02 |
) |
|
$ |
(0.19 |
) |
| |
|
|
|
|
|
|
|
|
| Weighted average number
of common shares outstanding: |
|
|
|
|
|
|
|
|
|
Basic and diluted |
|
|
16,447,233 |
|
|
|
15,756,876 |
|
|
|
16,517,440 |
|
|
|
15,915,501 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
CHINANET ONLINE HOLDINGS, INC. CONDENSED
CONSOLIDATED BALANCE SHEETS (In thousands, except for
number of shares and per share data) |
| |
| |
|
September 30,2019 |
|
December 31,2018 |
| |
|
(US $) |
|
(US $) |
|
|
|
(Unaudited) |
|
|
|
Assets |
|
|
|
|
|
Current assets: |
|
|
|
|
|
Cash and cash equivalents |
|
$ |
812 |
|
$ |
3,717 |
|
Term deposit, restricted |
|
|
25 |
|
|
25 |
|
Accounts receivable, net of allowance for doubtful accounts of
$1,324 and $3,393, respectively |
|
|
6,020 |
|
|
6,359 |
|
Prepayment and deposit to suppliers, net |
|
|
6,906 |
|
|
2,154 |
|
Due from related parties, net |
|
|
- |
|
|
226 |
|
Other current assets, net |
|
|
7 |
|
|
19 |
|
Total current assets |
|
|
13,770 |
|
|
12,500 |
| |
|
|
|
|
| Long-term investments |
|
|
35 |
|
|
- |
| Property and equipment, net |
|
|
87 |
|
|
142 |
| Intangible assets, net |
|
|
31 |
|
|
45 |
| Operating lease right-of-use
assets |
|
|
14 |
|
|
- |
| Blockchain application platform
development costs |
|
|
3,714 |
|
|
3,725 |
| Prepayment for software system
development |
|
|
760 |
|
|
| Deferred tax assets, net |
|
|
549 |
|
|
556 |
|
Total Assets |
|
$ |
18,960 |
|
$ |
16,968 |
| |
|
|
|
|
| Liabilities and
Equity |
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
Short-term bank loan * |
|
$ |
424 |
|
$ |
874 |
|
Accounts payable * |
|
|
899 |
|
|
2,869 |
|
Advance from customers * |
|
|
5,052 |
|
|
1,061 |
|
Advance from a customer, related * |
|
|
9 |
|
|
- |
|
Accrued payroll and other accruals * |
|
|
275 |
|
|
521 |
|
Taxes payable * |
|
|
3,027 |
|
|
2,997 |
|
Lease payment liability related to short-term leases * |
|
|
174 |
|
|
- |
|
Other current liabilities * |
|
|
310 |
|
|
118 |
|
Warrant liabilities |
|
|
255 |
|
|
606 |
|
Total current liabilities |
|
|
10,425 |
|
|
9,046 |
|
|
|
|
|
|
|
|
|
Long-term liabilities: |
|
|
|
|
|
Long-term borrowing from a director |
|
|
124 |
|
|
|
128 |
|
|
Total Liabilities |
|
|
10,549 |
|
|
|
9,174 |
|
|
|
|
|
|
|
|
Commitments and contingencies |
|
|
|
|
|
|
|
|
|
|
|
Equity: |
|
|
|
|
|
ChinaNet Online Holdings, Inc.’s stockholders’ equity |
|
|
|
|
|
Common stock (US$0.001 par value; authorized 50,000,000 shares;
issued and outstanding 18,020,973 shares and 16,382,543 shares at
September 30, 2019 and December 31, 2018, respectively) |
|
|
18 |
|
|
|
16 |
|
|
Additional paid-in capital |
|
|
40,706 |
|
|
|
38,275 |
|
|
Statutory reserves |
|
|
2,607 |
|
|
|
2,607 |
|
|
Accumulated deficit |
|
|
(36,417 |
) |
|
|
(34,512 |
) |
|
Accumulated other comprehensive income |
|
|
1,552 |
|
|
|
1,457 |
|
|
Total ChinaNet Online Holdings, Inc.’s stockholders’ equity |
|
|
8,466 |
|
|
|
7,843 |
|
|
|
|
|
|
|
|
Noncontrolling interests |
|
|
(55 |
) |
|
|
(49 |
) |
|
Total equity |
|
|
8,411 |
|
|
|
7,794 |
|
|
|
|
|
|
|
|
Total Liabilities and Equity |
|
$ |
18,960 |
|
|
$ |
16,968 |
|
|
|
|
CHINANET ONLINE HOLDINGS, INC. CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) |
|
|
|
|
|
Nine Months Ended September 30, |
|
|
|
|
2019 |
|
|
|
2018 |
|
|
|
|
(US $) |
|
(US $) |
|
|
|
(Unaudited) |
|
(Unaudited) |
|
Cash flows from operating activities |
|
|
|
|
|
Net loss |
|
$ |
(1,913 |
) |
|
$ |
(12,963 |
) |
| Adjustments to reconcile
net loss to net cash used
in operating activities |
|
|
|
|
|
Depreciation and amortization |
|
|
66 |
|
|
|
508 |
|
|
Amortization of operating lease right-of-use assets |
|
|
88 |
|
|
|
- |
|
|
Share-based compensation expenses |
|
|
307 |
|
|
|
215 |
|
|
Provision for allowances for doubtful accounts |
|
|
445 |
|
|
|
1,521 |
|
|
Impairment on intangible assets |
|
|
- |
|
|
|
3,380 |
|
|
Impairment on goodwill |
|
|
- |
|
|
|
5,289 |
|
|
Impairment on long-term investments |
|
|
- |
|
|
|
460 |
|
|
Deferred taxes |
|
|
(10 |
) |
|
|
805 |
|
|
Change in fair value of warrant liabilities |
|
|
(351 |
) |
|
|
(1,449 |
) |
| Changes in operating
assets and liabilities |
|
|
|
|
|
Accounts receivable |
|
|
(289 |
) |
|
|
(1,465 |
) |
|
Prepayment and deposit to suppliers |
|
|
(5,191 |
) |
|
|
1,016 |
|
|
Due from related parties |
|
|
226 |
|
|
|
22 |
|
|
Other current assets |
|
|
11 |
|
|
|
(205 |
) |
|
Accounts payable |
|
|
(1,946 |
) |
|
|
1,095 |
|
|
Advance from customers |
|
|
4,151 |
|
|
|
(1,423 |
) |
|
Advance from a customer, related |
|
|
9 |
|
|
|
- |
|
|
Accrued payroll and other accruals |
|
|
(242 |
) |
|
|
(150 |
) |
|
Lease payment liability related to short-term leases |
|
|
180 |
|
|
|
- |
|
|
Other current liabilities |
|
|
291 |
|
|
|
(292 |
) |
|
Taxes payable |
|
|
123 |
|
|
|
(57 |
) |
|
Prepaid lease payment |
|
|
(10 |
) |
|
|
- |
|
|
Net cash used in
operating activities |
|
|
(4,055 |
) |
|
|
(3,693 |
) |
|
|
|
|
|
|
|
Cash flows from investing activities |
|
|
|
|
|
Payment for purchase of office equipment |
|
|
- |
|
|
|
(11 |
) |
|
(Investment to)/withdraw investment from an investee |
|
|
(36 |
) |
|
|
460 |
|
|
Short-term loan to unrelated parties |
|
|
- |
|
|
|
(2,108 |
) |
|
Collection of short-term loan from unrelated parties |
|
|
- |
|
|
|
4,716 |
|
|
Payment for acquisition of noncontrolling interest |
|
|
- |
|
|
|
(1,687 |
) |
|
Payment for blockchain application platform development costs |
|
|
- |
|
|
|
(3,743 |
) |
|
Prepayment for software system development |
|
|
(760 |
) |
|
|
- |
|
|
Purchase of software technology |
|
|
- |
|
|
|
(437 |
) |
|
Net cash used in
investing activities |
|
|
(796 |
) |
|
|
(2,810 |
) |
|
Cash flows from financing activities |
|
|
|
|
|
Proceeds from issuance of common stock and warrant (net of cash
offering cost of US$8 and US$809, respectively) |
|
|
2,393 |
|
|
|
10,263 |
|
|
Repayment to investors related to terminated security purchase
agreements |
|
|
- |
|
|
|
(933 |
) |
|
Proceeds from short-term bank loan |
|
|
438 |
|
|
|
920 |
|
|
Repayment of short-term bank loan |
|
|
(875 |
) |
|
|
(460 |
) |
|
Net cash provided by
financing activities |
|
|
1,956 |
|
|
|
9,790 |
|
|
|
|
|
|
|
|
Effect of exchange rate fluctuation on cash, cash equivalents and
restricted cash |
|
|
(10 |
) |
|
|
(320 |
) |
|
|
|
|
|
|
|
Net (decrease)/increase in cash, cash equivalents, and
restricted cash |
|
|
(2,905 |
) |
|
|
2,967 |
|
|
|
|
|
|
|
|
Cash, cash equivalents, and restricted cash at beginning of the
period |
|
|
3,742 |
|
|
|
2,952 |
|
|
Cash, cash equivalents, and restricted cash at end of the
period |
|
$ |
837 |
|
|
$ |
5,919 |
|
|
|
|
|
|
|
|
|
|
|
ZW Data Action Technolog... (NASDAQ:CNET)
Historical Stock Chart
From Mar 2024 to Apr 2024
ZW Data Action Technolog... (NASDAQ:CNET)
Historical Stock Chart
From Apr 2023 to Apr 2024
