Company: ABLV
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001213900-25-034677
Chunk: 116

Company: Able View Global Inc.
Filing Date: 2025-04-23
Form: 20-F
Item: Item 4A
Chunk 116
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 was affected by downward macroeconomic
environment.

Cost of revenues

Our cost of revenues increased by $5.1 million
from $112.0 million for the year ended December 31, 2023 to $117.1 million for the year ended December 31, 2024. The increase was primarily
due to inventory write-down of $4.9 million against certain beauty and personal care products due to slowing moving.

Gross margin

For the years ended December 31, 2024 and 2023,
the gross margin was 9% and 25%, respectively. The decrease in gross margin was primarily attributable to the downward macroeconomic environment
and an inventory write-down of $4.9 million against beauty and personal care products due to slowing moving for the year of 2024.

Selling and marketing expenses

Our selling and marketing expenses decreased
by $3.0 million, or 17% from $17.1 million for the year ended December 31, 2023 to $14.1 million for the year ended
December 31, 2024. The decrease was mainly due to (i) a decrease of $0.7 million in promotion and advertising expenses as we reduced
our expenditures on advertising for beauty and personal care products which was affected by downward macroeconomic environment, (ii)
a decrease of $0.8 million in freight and warehouse expenses which was in line with decrease in revenues, (iii) a decrease of $0.8
million in payroll and welfare expenses which was affected by combined effects of (a) a decrease of bonus expenses to salespersons
with decrease of revenues and (b) resignation of salespersons, and (iv) a decrease of $0.8 million in human resource service fees
and IT service fees in relation to supporting promotion and advertising activities, which was in line with the decrease in promotion
and advertising expenses.

General and administrative expenses

Our general and administrative expenses was $6.5 million
for the year ended December 31, 2023, compared to $6.5 million for the year ended December 31, 2024. In 2024, we experienced an increase
of $2.1 million in provision of expected credit losses against other receivables, partially offset against a decrease of $1.0 million
in payroll and welfare expenses due to no bonus expenses was incurred during the year of 2024 and resignation of employees and a decrease
of $0.5 million in professional