ENTREPRENEUR UNIVERSE BRIGHT GROUP Announces 2022 Q2 Financial Results

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XI’AN, China, Aug. 15, 2022 /PRNewswire/ — ENTREPRENEUR UNIVERSE BRIGHT GROUP (“EUBG” or the “Company”) (OTCBB: EUBG), a digital marketing consulting company, announced its unaudited financial results for the second quarter ended June 30, 2022.

Mr. Guolin Tao, CEO of Entrepreneur Universe Bright Group commented, “Due to the government measures taken to contain COVID-19, the offline activities of the Company’s PRC subsidiary were restricted from late January to May 2020, resulting in cancellations or postponements of the marketing efforts of our customers. Specifically, as a result of government mandated closures of non-essential business in China, many of the Company’s customers’ business were suspended while others permanently closed their businesses. From December 22, 2021 to January 24, 2022, Xi’an city, the PRC, went into lockdown following a coronavirus outbreak that officials attributed to the delta variant. From April 16, 2022 to April 19, 2022, the city was under temporary controls of social activities after reporting more than 40 infections in half month. This affected both the Company’s digital marketing consulting services and our KOL Training Related Services.”

Second Quarter 2022 Unaudited Financial Results

	Three months ended June 30,
	2022		2021
Revenue	$	840,868	$	873,084
Cost of revenue		(113,332)		(199,451)
Gross profit		727,536		673,633
Selling expenses		(8,319)		(85,760)
General and administrative expenses		(331,385)		(351,935)
Total other income, net		58,099		32,392
Income before income tax		445,931		268,330
Income tax expense		(180,081)		(146,289)
Net income	$	265,850	$	122,041

Revenue decreased by 3.7% to $840,868
Gross profit increased by 8.0% to $727,536
Net income increased by 117.8% to $265,850

Revenue and cost of revenue: During the three months ended June 30, 2022, we generated revenue of $840,868 compared to $873,084 for the three months ended June 30, 2021, representing a decrease of $32,216 or 3.7% as compared with the prior period. For the three months ended June 30, 2022, our revenue from…

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Jasmine Andrade