Revenue Performance - Revenue for the six months ended June 30, 2022, was approximately 7.0million,adecreaseofapproximately6.6 million or 48.5% compared to 13.6millionforthesameperiodin2021[12].−Revenuefromapplicationdevelopmentservicesdecreasedbyapproximately8.3 million, or 82.1%, to approximately 1.8millionforthesixmonthsendedJune30,2022,comparedto10.1 million for the same period in 2021[13]. - Revenue from consulting and technical support services decreased by approximately 0.5million,or26.11.3 million for the six months ended June 30, 2022[14]. - Revenue from trading increased by approximately 2.1million,or159.43.5 million for the six months ended June 30, 2022, compared to 1.3millionforthesameperiodin2021[15].−Totalrevenuesdecreasedto7,017,827 in 2022 from 13,639,101in2021,representingadeclineofapproximately48.71.5 million, a decrease of approximately 2.9millionor66.14.3 million for the same period in 2021[16]. - Gross profit for 2022 was 1,471,780,downfrom4,337,151 in 2021, indicating a decrease of about 66.0%[27]. - Net loss for the six months ended June 30, 2022, was approximately 8.5million,adecreaseofapproximately0.5 million compared to 9.0millionforthesameperiodin2021[19].−NetlossattributabletoPowerbridgewas8,488,933 in 2022, compared to 8,960,299in2021,reflectingareductioninlossesofapproximately5.312,420,068 in 2022, compared to 8,137,355in2021,indicatinganincreaseincomprehensivelossesofabout52.010.2 million, a decrease of approximately 1.7millionor14.412.0 million for the same period in 2021[17]. - Research and development expenses rose to 1,971,750in2022from1,312,470 in 2021, an increase of approximately 50.3%[27]. - Total liabilities decreased to 22,939,256in2022from31,920,622 in 2021, a reduction of approximately 28.1%[24]. Assets and Equity - Total current assets increased significantly to 86,173,841in2022from38,622,108 in 2021, marking an increase of about 123.5%[24]. - Cash and cash equivalents decreased to 2,446,881in2022from6,960,996 in 2021, a decline of about 64.8%[24]. - The weighted average number of ordinary shares increased to 71,831,086 in 2022 from 46,831,129 in 2021, an increase of approximately 53.4%[28]. - Total equity increased to 90,804,620in2022from82,898,342 in 2021, reflecting an increase of about 9.7%[24]. Strategic Initiatives - The company entered into an equity transfer agreement to purchase a 19% equity interest in DTI Jiangsu Corporation Limited for RMB 57,435,100[6]. - The company has obtained an exclusive right in China to offer a series of soccer collectible NFTs on Ali Auction, which has over 240,000 accumulated views[9]. - The company intends to pursue strategic acquisitions and investments to enhance technology capabilities and expand market penetration[11].
