Tungray Technologies Inc and Subsidiaries 
    Unaudited Condensed Consolidated Statements of Income (Loss) and 
                           Comprehensive Loss 
  (Stated in U.S. Dollars, except for share data, or otherwise noted) 
 
 
                                          For the six months ended 
                                                   June 30, 
                                       ------------------------------- 
                                            2024             2023 
                                       ---------------  -------------- 
                                                         As Restated 
                                         (Unaudited)      (Unaudited) 
Revenue - products                      $    5,435,786   $   5,313,634 
Revenue - related party                              -          42,790 
                                           -----------      ---------- 
Total revenues                               5,435,786       5,356,424 
                                           -----------      ---------- 
 
Cost of revenue - products                   2,897,866       2,460,361 
Cost of revenue - related party                      -          32,858 
                                           -----------      ---------- 
Total cost of revenues                       2,897,866       2,493,219 
                                           -----------      ---------- 
 
Gross profit                                 2,537,920       2,863,205 
                                           ===========      ========== 
 
Operating expenses: 
Selling expenses                               300,122         216,168 
General and administrative expenses          2,735,835       2,106,952 
Research and development expenses              447,234         430,809 
                                           -----------      ---------- 
Total operating expenses                     3,483,191       2,753,929 
                                           -----------      ---------- 
 
(Loss) Income from operations                (945,271)         109,276 
                                           -----------      ---------- 
 
Other income 
Other income, net                              172,687         128,614 
Lease income - related party                     9,855          10,263 
Financial expenses, net                         44,262          22,074 
                                           -----------      ---------- 
Total other income, net                        226,804         160,951 
                                           -----------      ---------- 
 
(Loss) Income before income taxes            (718,467)         270,227 
                                           -----------      ---------- 
 
Income tax expense                           (126,219)       (105,491) 
 
Net (loss) income                            (844,686)         164,736 
                                           -----------      ---------- 
 
Less: net loss attributable to 
 noncontrolling interests                     (30,679)        (38,426) 
 
Net (loss) income attributable to 
 Tungray Technologies Inc                    (814,007)         203,162 
                                           ===========      ========== 
 
Net (loss) income                            (844,686)         164,736 
 
Foreign currency translation 
 adjustment                                  (629,472)       (293,212) 
                                           -----------      ---------- 
 
Comprehensive loss                         (1,474,158)       (128,476) 
                                           ===========      ========== 
 
Less: comprehensive loss attributable 
 to noncontrolling interests                  (30,679)        (36,732) 
                                           -----------      ---------- 
 
Total comprehensive loss attributable 
 to Tungray Technologies Inc               (1,443,479)        (91,744) 
                                           ===========      ========== 
 
Weighted average number of common 
 shares outstanding - basic and 
 diluted                                    15,539,074      15,000,000 
 
(Loss) Earnings per common share - 
 basic and diluted                              (0.05)            0.01 
 

View original content:https://www.prnewswire.com/news-releases/tungray-technologies-inc-reports-unaudited-2024-first-half-financial-results-302340750.html

SOURCE Tungray Technologies Inc

(END) Dow Jones Newswires

December 31, 2024 17:00 ET (22:00 GMT)