Able View Global Inc. Reports Fiscal Year 2023 Results

SHANGHAI, CHINA / ACCESSWIRE / May 1, 2024 – Able View Global Inc. (NASDAQ:ABLV) announced a record revenue of $149 million and a net income of $10 million for the fiscal year ending December 31, 2023. This represents a growth in revenue of 3% and an increase in net income of 23% compared to the previous year. Stephen Zhu, Chairman and CEO, attributed these achievements to the company's strategic initiatives and operational excellence in the beauty and personal care sectors.

The company reported a 14% increase in gross profit and improved gross margins from 22% to 25%. Income from operations and income before income taxes also saw double-digit growth, bolstered by a series of financial and operational strategies, including cost reduction efforts that led to a slight decrease in overall expenses.

A notable development in 2023 was the completion of Able View's merger with Hainan Manaslu Acquisition Corp., marking the start of trading for Able View's Class B shares and warrants on Nasdaq from August 18. The company also highlighted significant improvements in cash flow metrics and an increase in shareholder equity, reflecting a stronger financial position.