Company: CNEY
Filing Date: 2025-10-29
Form Type: F-1/A
Source: 0001477932-25-007791
Chunk: 74

Company: CN ENERGY GROUP. INC.
Filing Date: 2025-10-29
Form: F-1/A
Chunk 74
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 2024 and 2023

The following table summarizes our results of operations for the fiscal years ended September 30, 2024 and 2023, respectively, and provides information regarding the dollar and percentage increase or (decrease) during such fiscal years.

|                                           |     | Fiscal year end September 30, |        2024 |   |     |   |        2023 |   |     | Variance |     Amount |   |     |     |       % |    |
|:------------------------------------------|:----|:------------------------------|------------:|:--|:----|:--|------------:|:--|:----|:---------|-----------:|:--|:----|:----|--------:|:---|
| Revenues                                  |     | $                             |  50,957,974 |   |     | $ |  57,899,096 |   |     | $        | (6,941,122 | ) |     |     |   (12.0 | )% |
| Cost of revenues                          |     |                               | (51,139,085 | ) |     |   | (57,110,446 | ) |     |          | (5,971,361 | ) |     |     |   (10.5 | )% |
| Gross (loss) profit                       |     |                               |    (181,111 | ) |     |   |     788,650 |   |     |          |   (969,761 | ) |     |     |  (123.0 | )% |
| Allowance for receivables and inventories |     |                               |  (8,976,860 | ) |     |   |    (195,355 | ) |     |          |  8,781,505 |   |     |     | 4,495.2 | %  |
| Selling expenses                          |     |                               |           - |   |     |   |     (53,008 | ) |     |          |    (53,008 | ) |     |     |  (100.0 | )% |
| General and administrative expenses       |     |                               |  (3,195,488 | ) |     |   |  (5,730,147 | ) |     |          | (2,534,659 | ) |     |     |   (44.2 | )% |
| Research