Trooperstocks
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NEWS: Chanson International Holding Announces a Collaboration under Coffee Brand Soul * Song in Xinjiang, China
Chanson International Holding
Mon, November 25, 2024 at 8:00 AM EST
In This Article:
CHSN +4.17%
Chanson International Holding
URUMQI, China, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Chanson International Holding (Nasdaq: CHSN) (the “Company” or “Chanson”), a provider of bakery, seasonal, and beverage products through its chain stores in China and the United States, today announces a collaboration with a leading hotel and restaurant management enterprise in Yili, Xinjiang, China, Xinjiang Hengtai Investment Co., Ltd. (“Xinjiang Hengtai”) to expand its coffee brand, Soul * Song, through a franchise operation model in Yili. This milestone marks significant progress in the development of Chanson’s Soul * Song brand, further deepening its market presence and extending its brand influence in the Xinjiang region.
In July 2024, the Company celebrated the grand opening of a Soul * Song café in partnership with Xinjiang Hengtai at the scenic Nalati National Tourist Resort in Yili, Xinjiang, China. Soul ? Song’s innovative "blend bean concept" highlights the art of blending, offering diverse flavors to suit every customer's unique taste. The café quickly became a must-visit destination within the resort, breaking the Company's single-day coffee-related sales record by achieving daily sales of RMB 30,000 on both August 8 and August 15, 2024. This marks Chanson's first attempt in adopting a franchise model, partnering with a distinguished local enterprise for mutual growth and success. Building on its growing influence in the Yili region, the Company plans to open five additional Soul ? Song cafés under the franchise model by 2025.
Mr. Gang Li, Chairman of the Board of Directors and Chief Executive Officer of Chanson, commented, “The introduction of the franchise model is a key milestone in the growth of our Soul * Song brand, and underscoring a commitment to enhancing our marketing strategy and brand visibility. After thorough investigation and analysis, we selected the picturesque and culturally rich 5A-level tourist resort in Nalati as the ideal location to showcase our brand’s uniqueness and positioning within a high-quality consumption environment. 5A-level tourist resort is the highest rating by government, awarded to China’s most important and well-maintained tourist attractions. Our goal is to provide consumers with an unprecedented experience that combines food and cultural elements. We believe that this franchise model will foster sustainable growth for Chanson while contributing to the vitality of Xinjiang’s local tourism economy.”
About Chanson International Holding
Founded in 2009, Chanson International Holding is a provider of bakery, seasonal, and beverage products through its chain stores in China and the United States. Headquartered in Urumqi, China, Chanson directly operates stores in Xinjiang, China and New York, United States. Chanson currently manages stores in China and in New York City while selling on digital platforms and third-party online food ordering platforms. Chanson offers not only packaged bakery products but also made-in-store pastries and eat-in services, serving freshly prepared bakery products and extensive beverage products. Chanson aims to make healthy, nutritious, and ready-to-eat food through advanced facilities based on in-depth industry research, while creating a comfortable and distinguishable store environment for customers. Chanson's dedicated and highly-experienced product development teams constantly create new products that reflect market trends to meet customer demand. For more information, please visit the Company's website: http://ir.chanson-international.net/.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the U.S. Securities and Exchange Commission.
For investor and media inquiries, please contact:
Chanson International Holding
Investor Relations Department
Email: IR@chansoninternational.com
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
Trooperstocks
2 주 전
NEWS: Chanson International Holding Expects Significant Progress in Store Expansion
Chanson International Holding
Thu, November 21, 2024 at 8:00 AM EST
In This Article: CHSN
Chanson International Holding
URUMQI, China, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Chanson International Holding (Nasdaq: CHSN) (the “Company” or “Chanson”), a provider of bakery, seasonal, and beverage products through its chain stores in China and the United States, today announced that it expects its total number of chain stores across China and the United States to reach 60 by the end of December 2024. This milestone reflects the Company’s commitment to accelerating business growth and enhancing its market presence in both China and the United States.
Chanson currently manages 49 stores in China with eight additional stores that are being furnished and set to open by December 31, 2024, along with three stores in the United States. The expansion brings Chanson’s total store count to 60 across China and the United States, marking a significant growth from the 37 stores Chanson operated when its initial public offering was completed in April 2023, and surpassing Chanson’s previous goal of opening three to five new stores annually. At the new stores scheduled to open by December 31, 2024, Chanson expects to deliver a curated selection of packaged bakery products, freshly made pastries, and an extensive beverage menu, focusing on healthy, ready-to-eat options, along with impeccable service in a cozy café ambiance, fostering guest relaxation and meaningful social interactions.
Mr. Gang Li, Chairman of the Board of Directors and Chief Executive Officer of Chanson, commented, “We believe our commitment to great in-store service and high-quality offerings is the cornerstone of our success, ensuring operational standards while expanding our market reach. Our expansion strategy allows us to optimize resource allocation and respond to customer demands swiftly and effectively, ultimately driving growth in key markets. As part of our long-term vision, we are dedicated to enhancing our brand presence across China and the United States, delivering outstanding dining experiences to guests. This strategy not only accelerates store openings but also strengthens our position as a trusted and innovative leader in the bakery and beverage industry. We are confident that our focus on service excellence and quality will continue to drive sustainable growth and customer loyalty.”
About Chanson International Holding
Founded in 2009, Chanson International Holding is a provider of bakery, seasonal, and beverage products through its chain stores in China and the United States. Headquartered in Urumqi, China, Chanson directly operates stores in Xinjiang, China and New York, United States. Chanson currently manages chain stores in China and New York City while selling on digital platforms and third-party online food ordering platforms. Chanson offers not only packaged bakery products but also made-in-store pastries and eat-in services, serving freshly prepared bakery products and extensive beverage products. Chanson aims to make healthy, nutritious, and ready-to-eat food through advanced facilities based on in-depth industry research, while creating a comfortable and distinguishable store environment for customers. Chanson's dedicated and highly-experienced product development teams constantly create new products that reflect market trends to meet customer demand. For more information, please visit the Company's website: http://ir.chanson-international.net/.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the U.S. Securities and Exchange Commission.
For investor and media inquiries, please contact:
Chanson International Holding
Investor Relations Department
Email: IR@chansoninternational.com
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
Trooperstocks
2 주 전
$CHSN Announces Financial Results For First Half of Fiscal Year 2024
PR Newswire
In This Article: CHSN +17.55%
URUMQI, China, Sept. 27, 2024 /PRNewswire/ -- Chanson International Holding (Nasdaq: CHSN) (the "Company" or "Chanson"), a provider of bakery, seasonal, and beverage products through its chain stores in China and the United States, today announced its unaudited financial results for the six months ended June 30, 2024.
Mr. Gang Li, Chairman of the Board of Directors and Chief Executive Officer of the Company, commented, "In the first half of fiscal year 2024, despite facing various challenges, we have shown resilience and adaptability in a dynamic market. While we experienced a slight decline in revenue, we have successfully maintained our gross margins at above 40%, by enforcing cost control measures and enhancing operating efficiency. Additionally, with an increased cash reserve as of June 30, 2024, we are in a solid position to manage market uncertainties. As we move forward, we remain confident in our long-term growth strategy and execution capabilities. Our expansion initiatives in both the United States and China are expected to remain a key focus of our growth. We aim to drive revenue by attracting new customers and encouraging repeat business from existing ones. Specifically, this is expected to be achieved by strengthening opportunistic purchasing, optimizing inventory management, maintaining strong store conditions, and effectively marketing both current and new product offerings. We believe that with all those efforts in place, we will navigate short-term headwinds and return to long-term growth in the near future."
First Half of Fiscal Year 2024 Financial Summary
Total revenue was $7.5 million, compared to $8.8 million for the same period of last year.
Gross profit was $3.1 million, compared to $4.3 million for the same period of last year.
Gross margin was 41.5%, compared to 49.2% for the same period of last year.
Net income was $0.02 million, compared to $0.3 million for the same period of last year.
Basic and diluted earnings per share were $0.002, compared to $0.027 for the same period of last year.
First Half of Fiscal Year 2024 Financial Results
Revenue
Total revenue was $7.5 million for the six months ended June 30, 2024, which decreased by 14.4%, from $8.8 million for the same period of last year. The decrease in revenue was due to decreased revenue from both the stores in China (the "China Stores") and the stores in the United States (the "United States Stores").
China Stores
Revenue from the China Stores was $6.5 million for the six months ended June 30, 2024, which decreased by or 7.3%, from $7.0 million for the same period of last year. The decrease was mainly due to the decreased revenue from bakery products as well as from other products.
Revenue from bakery products was $5.9 million for the six months ended June 30, 2024, which decreased by 7.3%, from $6.4 million for the same period of last year. The post-COVID-19 economy in China has recovered at a slower pace than expected, and the spending behavior of consumers has been affected by various factors, such as the economic downward pressure and lack of consumer confidence. As a result, revenue from bakery products decreased due to the decline in average spending per customer and the consumption downgrade during the six months ended June 30, 2024.
Revenue from other products was $0.58 million for the six months ended June 30, 2024, which decreased by 7.0%, from $0.62 million for the same period of last year. The decrease was mainly due to decreased revenue from seasonal products, which was partially offset by increased revenue from beverage products. Revenue from seasonal products was $0.36 million for the six months ended June 30, 2024, which decreased by 16.4% from $0.44 million for the same period of last year. The decrease was due to the consumption downgrade as mentioned above. The average spending per customer declined because customers preferred lower-priced seasonal products during the six months ended June 30, 2024. Revenue from beverage products was $0.22 million for the six months ended June 30, 2024, an increase by 14.8% from $0.19 million for the same period of last year, mainly due to increased revenue from freshly brewed coffee products, as the China Stores are focusing on expanding the business of coffee beverages and more coffee bakery stores were opened in the six months ended June 30, 2024.
United States Stores
Revenue from the U.S. Stores was $1.0 million for the six months ended June 30, 2024, which decreased by 42.2% from $1.8 million for the same period of last year. The decrease was mainly due to decreased revenue from beverage products and eat-in services, which was partially offset by the slightly increased revenue from bakery products.
Revenue from bakery products remained relatively stable at $0.24 million for the six months ended June 30, 2024, with a slight increase by 2.6% from $0.23 million for the same period of last year. The increase was due to the increased revenue from bakery products of approximately $0.1 million, generated by Chanson 3rd Ave and Chanson Broadway. The increase in revenue from bakery products was partially offset by the decreased revenue from Chanson Greenwich of approximately $0.09 million. Many famous bakery brands have opened new stores in New York City, customers now have more choices and revenue from bakery products of Chanson 23rd Street and Chanson Greenwich were affected. With the increased competition, Chanson Greenwich closed its business operation in the second half of fiscal year 2023.
Revenue from beverage products was $0.6 million for the six months ended June 30, 2024, which decreased by 37.2% from $1.0 million for the same period of last year, primarily due to the closure of Chanson Greenwich as mentioned above. The decrease was also attributable to increased competition from rivals operating in the same area. After the cocktail bars of the United States Stores launched several new types of cocktail products with new flavors and styles, such products became popular among customers and the cocktail bars were often fully booked by reservation. However, the rivals operating in the same area also launched many types of attractive cocktail products, so customers currently have more choices, and revenue from beverage products were adversely affected during the six months ended June 30, 2024.
Revenue from eat-in services was $0.2 million for the six months ended June 30, 2024, which decreased by 69.7% from $0.6 million for the same period of last year. The decrease was mainly due to the decreased revenue from Chanson Greenwich of approximately $0.4 million as a result of the closure of its business as mentioned above. Moreover, the decrease was due to the slightly decreased revenue from Chanson 23rd Street of approximately $0.01 million, as Chanson 23rd Street adjusted its menu items and customers were adjusting to the new products. The decrease in revenue from eat-in services was partially offset by increased revenue from eat-in services of approximately $0.02 million, generated by Chanson 3rd Ave and Chanson Broadway.
Gross Profit and Gross Margin
Gross profit was $3.1 million for the six months ended June 30, 2024, which decreased by 27.8% from $4.3 million for the same period of last year. Gross margin was 41.5% for the six months ended June 30, 2024, which decreased by 7.7% points from 49.2% for the same period of last year.
Operating Expenses
Operating expenses were $3.7 million for the six months ended June 30, 2024, compared to $4.2 million for the same period of last year.
Selling expenses were $2.2 million for the six months ended June 30, 2024, which decreased by 8.7%, from $2.4 million for the same period of last year. The decrease was mainly due to decreased selling expenses of approximately $0.2 million incurred by Chanson Greenwich, as Chanson Greenwich was closed in the second half of fiscal year 2023. The decrease in selling expenses was partially offset by increased selling expenses of approximately $0.07 million generated by the Chanson 3rd Ave and Chanson Broadway, the new stores opened in March 2023 and July 2023, respectively.
General and administrative expenses were $1.5 million for the six months ended June 30, 2024, which decreased by 17.9% from $1.8 million for the same period of last year. The decrease was primarily due to the closure of Chanson Greenwich as mentioned above.
Net Income
Net income was $0.02 million for the six months ended June 30, 2024, compared to $0.28 million for the same period of last year.
Basic and Diluted Earnings per Share
Basic and diluted earnings per share were $0.002 for the six months ended June 30, 2024, compared to $0.027 for the same period of last year.
Balance Sheet
As of June 30, 2024, the Company had cash of $4.1 million, compared to $1.5 million as of December 31, 2023.
Cash Flow
Net cash provided by operating activities was $0.8 million for the six months ended June 30, 2024, compared to $0.6 million for the same period of last year.
Net cash provided by investing activities was $1.4 million for the six months ended June 30, 2024, compared to net cash used in $11.3 million for the same period of last year.
Net cash provided by financing activities was $0.4 million for the six months ended June 30, 2024, compared to $9.7 million for the same period of last year.
About Chanson International Holding
Founded in 2009, Chanson International Holding is a provider of bakery, seasonal, and beverage products through its chain stores in China and the United States. Headquartered in Urumqi, China, Chanson directly operates stores in Xinjiang, China and New York, United States. Chanson currently manages 46 stores in China, and three stores in New York City while selling on digital platforms and third-party online food ordering platforms. Chanson offers not only packaged bakery products but also made-in-store pastries and eat-in services, serving freshly prepared bakery products and extensive beverage products. Chanson aims to make healthy, nutritious, and ready-to-eat food through advanced facilities based on in-depth industry research, while creating a comfortable and distinguishable store environment for customers. Chanson's dedicated and highly-experienced product development teams constantly create new products that reflect market trends to meet customer demand. For more information, please visit the Company's website: http://ir.chanson-international.net/.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the U.S. Securities and Exchange Commission.
For investor and media inquiries, please contact:
Chanson International Holding
Investor Relations Department
Email: IR@chansoninternational.com
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
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