Gushen, Inc Reports Net Loss of $9.5 Million for the Year

Gushen, Inc [GSHN], a leading company in the industry, has released its annual financial report for the year ended September 30, 2022. The company reported a significant net loss of $9.5 million for the year, reflecting the challenges faced by the business. Despite the difficult conditions, Gushen generated annual revenue of $2.4 billion, showcasing its resilience in the market.

Financial Performance

Gushen's financial performance for the year was impacted by a variety of factors. The company experienced a decline in gross profit, which decreased from $724.9 million in the previous year to $948.6 million. This decrease can be attributed to higher costs of revenue, which rose to $1.5 billion compared to $1.2 billion in the previous year. Operating expenses also increased, reaching $4.8 billion, further contributing to the net loss of $9.5 million.