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Challenges and opportunities

In this year's annual report, we are proud to show that our company has continued to grow and thrive despite the obstacles presented by global challenges.

We are pleased to present the annual report for the fiscal year ending 2024. This year has been a year of challenges and opportunities, and we are proud to report that we have made significant progress towards achieving our strategic goals.

It has been a year of growth and transformation, and we are proud to report that we have made significant progress towards achieving our strategic goals. We focused on executing our strategic plan to drive growth and transform our business. We made significant investments in research and development, technology, and talent to enhance our capabilities and position ourselves for success in the future.

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We are confident in our ability to execute our strategic plan and drive growth and transformation in the years to come. While there may be challenges and uncertainties ahead, we are well-positioned to navigate them and seize the opportunities that arise.

We are committed to making a positive impact on society and the environment. During the year, we continued to focus on our corporate social responsibility initiatives.

Finally, we would like to express our gratitude to our shareholders, customers, employees, and partners for their continued support and dedication.

Joe Chair – Tech Company

Business Overview

During the year, we focused on expanding our operations and investing in key growth areas. We continued to strengthen our position in the market by launching new products and services, improving our customer experience, and expanding our geographic reach.

In this year of growth and transformation, we are proud to report that we have made significant progress towards achieving our strategic goals. We focused on executing our strategic plan to drive growth and transform our business. We made significant investments in research and development, technology, and talent to enhance our capabilities and position ourselves for success in the future.

$2.06 million in revenue, an increase of 29%*

We are confident in our ability to execute our strategic plan and drive growth and transformation in the years to come. While there may be challenges and uncertainties ahead, we are well-positioned to navigate them and seize the opportunities that arise.

We are committed to making a positive impact on society and the environment. During the year, we continued to focus on our corporate social responsibility initiatives.

Occupancy rate up to 72% in 2024, vs. 47% in 2023

1. Our expansion into more locations has been was well-received by customers, and we expect it to be a significant contributor to our growth in the coming years.

This initiative represents a significant growth opportunity for us and we expect it to be a major contributor to our revenue growth in the coming years. We invested heavily in research and development to bring this initiative to market and we are pleased with the results so far.

2. We identified regions as a key growth area, and made significant investments to establish our presence there.

We conducted extensive market research and analysis to determine the viability of these regions and developed a comprehensive strategy to enter the market. We established local teams, developed partnerships with local businesses, and invested in marketing and promotion to raise awareness of our brand and offerings.

3. We continued to invest in our technology infrastructure to enhance our capabilities and improve our operational efficiency.

We recognised that technology is a key enabler of growth and innovation, and we made significant investments in areas such as data analytics, artificial intelligence, and cloud computing to enhance our capabilities.

Focused on delivering value

We recognised that the current market landscape is complex and dynamic, and we are committed to remaining agile and responsive to the evolving needs of our customers and markets.

	2023 ($)	2024 ($)
Cash provided by (used in)*	857,008	448,244
Operating activities	444,087	558,663
Investing activities	48,814	58,002
Financing activities	1,374	500
Effects of exchange rate changes	(1,346,535)	(48,065)
Net increase (decrease) in cash	2,220.04	200.02
Cash and cash equivalents - End of period	854,153	156,332

*Not real content the $96.8 million decrease in investing cash flows in 2021 was due to a decrease in property and equipment purchases, investments, and net cash deconsolidation. This was partly offset by divestiture proceeds of $1.2 billion in 202X. The $2.4 billion net increase in financing cash flows in 2021 was due to proceeds from Business Combination and PIPE financing, a debt repayment, and distribution to noncontrolling interest holders in 202X.

	2023 ($)	2024 ($)
Revenue**	852,478	6359,556
Location operating expenses	365,825	321,502
Pre-opening location expenses	28,669	42,690
Restructuring and other related costs	1,287.56	985.20
Effects of exchange rate changes	(132,163)	(72,067)
Total Expenses	2,654.04	669.02

**We consider Free Cash Flow to be a useful performance and liquidity measure for providing information to management and investors about the cash generated by or used in the business. Our management also uses it as a key metric for developing internal budgets, forecasts and performance targets. However, Free Cash Flow has limitations as an analytical tool and should not be used alone or as a substitute for analyzing our results as reported under GAAP.

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Additional information:

Images/illustration selected from Unsplash and Midjourney.
None of the information presented here is true or accurate.