Executive Summary

Q4 2024 results showed sequential deceleration: revenue $1.08M*, gross margin 83.6%, and net income $0.06M, reflecting ongoing pressure from a key live‑streaming client and higher service provider/labor costs *.
Full‑year FY 2024 revenue fell 15.5% to $5.27M and net income declined 34.8% to $1.49M vs FY 2023, as management maintained profitability through cost control amid a challenging market .
Balance sheet remained liquid through Q3 with $8.28M cash, even after paying a special dividend of $0.0013 per share (~$2.21M) in September 2024 .
No formal guidance provided; narrative emphasizes diversification of consultancy services and operational efficiency as drivers for stabilization into 2025 .

What Went Well and What Went Wrong

Maintained profitability for FY 2024 despite macro and client‑specific revenue headwinds; “we maintained profitability by optimizing our business structure and controlling costs” — CEO Guolin Tao .
Robust liquidity through Q3: cash and cash equivalents of $8.28M after the special dividend, indicating balance sheet strength .
Diversification efforts: increased revenue from other consultancy services helped offset declines from the live‑streaming client .

Revenue decline tied to a concentrated client in the live‑streaming business; FY 2024 revenue down 15.5% YoY with explicit attribution to this client’s reduction .
Margin compression from introduction of a new service provider and salary adjustments; Q3 gross margin 89.3% vs 93% last year and Q2 margin 86.6% vs prior‑year period .
Customer concentration risk persisted, with “Customer A” comprising 54% of Q3 revenue and 61% in Q2, sustaining elevated dependence levels .

Metric	Q2 2024	Q3 2024	Q4 2024
Revenue ($USD)	$1,264,221	$1,670,203	$1,080,018*
Gross Profit ($USD)	$1,094,464	$1,490,851	$903,347*
Gross Margin (%)	86.6%	89.3%	83.64%*
Net Income ($USD)	$348,467	$703,615	$62,052*
Diluted EPS ($USD)	0.00	0.00	0.000036*

Values marked with an asterisk (*) were retrieved from S&P Global.

Metric	FY 2023	FY 2024	YoY Change
Revenue ($USD)	$6.24M	$5.27M	-15.5%
Net Income ($USD)	$2.28M	$1.49M	-34.8%

Metric	Q2 2024	Q3 2024	Q4 2024
Consultancy Services Revenue ($USD)	$1,264,221	$1,670,203	N/A
Sourcing & Marketing Services Revenue ($USD)	$0	$0	N/A

KPI	Q2 2024	Q3 2024	Q4 2024
Cash & Cash Equivalents ($USD)	$10,029,766	$8,275,329	N/A
Customer A % of Revenue	61%	54%	N/A

Metric	Period	Previous Guidance	Current Guidance	Change
Revenue	FY 2025	None provided	None provided	Maintained (no guidance)
Margins	FY 2025	None provided	None provided	Maintained (no guidance)
OpEx	FY 2025	None provided	None provided	Maintained (no guidance)
Tax Rate	FY 2025	None provided	None provided	Maintained (no guidance)
Special Dividend	Q3 2024	None	$0.0013/share (~$2.21M)	Announced and Paid

No formal quantitative guidance ranges were issued in Q4 materials; management focused commentary on diversification and efficiency .

No Q4 2024 earnings call transcript was available in the document catalog; commentary reflects press releases and 10‑Q/8‑K disclosures .

Topic	Previous Mentions (Q2 2024)	Previous Mentions (Q3 2024)	Current Period (Q4 2024)	Trend
Macro/China demand	Cost optimization amid uncertainties; lower revenue from live‑streaming client	“Challenging market” but stable performance; diversified services	“Challenging market environment in 2024” with cost control	Continued caution with operational discipline
Cost structure & margins	Margin down from new service provider, wage adjustments	Margin lower YoY; higher service provider costs	Full‑year profitability maintained via cost controls	Margin pressure easing via discipline
Client concentration	Customer A 61% of Q2 revenue	Customer A 54% of Q3 revenue	Diversification emphasized; no Q4 concentration disclosed	Improving concentration mix incrementally
Capital returns	None	Special dividend declared/paid	Prior dividend reiterated	Capital return completed
Regulatory/legal	PRC oversight/disclosure controls weaknesses highlighted	Continuing disclosure/control weaknesses; PRC oversight risks	Risks and regulatory changes acknowledged	Risk framework unchanged

“Despite the challenging market environment in 2024, we maintained profitability by optimizing our business structure and controlling costs. Moving forward, we will continue to diversify our service offerings, and proactively address changes in the regulatory landscape.” — Guolin Tao, CEO .
“In a challenging market, we continue to deliver high‑quality consultancy services and adapt our strategies to meet the dynamic needs of the industry.” — EUBG management (Q3 release) .
Strategic focus: expand digital marketing consultancy including brand positioning, omni‑channel sales strategy, and e‑commerce traffic optimization .

No Q4 2024 earnings call transcript found; therefore, no Q&A topics/clarifications were available to review [functions.ListDocuments: earnings-call-transcript returned 0].

Wall Street consensus (S&P Global) for Q4 2024 was unavailable for EPS; revenue consensus was not provided. Actual Q4 2024 revenue was $1.08M*, EPS ~$0.000036*, and net income ~$0.06M*, without a consensus comparison. Values retrieved from S&P Global.
Given the lack of estimates, near‑term revisions will likely anchor to full‑year disclosure and sequential trends (client mix, service provider costs) .

Revenue trajectory remains sensitive to a key client in live streaming; diversification is the principal lever to stabilize topline into 2025 .
Margin compression from higher service provider/labor costs persisted in 2024; continued cost discipline kept the company profitable despite lower revenue .
Liquidity is a support: $8.28M cash at Q3 even after a ~$2.21M special dividend, providing flexibility for operations and potential selective investments .
Customer concentration risk, though improving (61% → 54% across Q2→Q3), remains a central focus; watch future disclosures for mix diversification .
No formal guidance and no Q4 call; stock narrative will be driven by evidence of client diversification and sustained margin discipline rather than numeric targets .
Regulatory and control environment in China and internal control weaknesses could add volatility; monitor remediation progress and regulatory developments .
Capital return policy evidenced by a special dividend in Q3 2024; future distributions will depend on earnings resilience and cash generation .

Notes:

The Q4 2024 earnings press release was furnished via 8‑K with audited FY 2024 results; quarterly detail referenced where available (S&P Global marked with *) .
Prior two quarters’ results were sourced from Q2 and Q3 2024 filings and press releases .