Company: ABLV
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001213900-25-034677
Chunk: 127

Company: Able View Global Inc.
Filing Date: 2025-04-23
Form: 20-F
Item: Item 4A
Chunk 127
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31, 2024 was $2.2 million, primarily attributable to net loss of $7.4 million, adjusted for non-cash
item of inventory write-down of $4.9 million, and changes in operating assets and liabilities, including (i) an increase of $0.9 million
in accounts receivable as certain of our customers fully utilized the credit terms at the end of year 2024, (ii) a decrease of $6.1 million
in inventories because we reduced our stocks of cosmetic products; (iii) a decrease of $1.2 million in accounts payable
because of a decrease in purchase; (iv) a decrease of $2.3 million in income tax payable because we paid income tax expenses
incurred in the year of 2023 while we incurred decreased income tax expenses in the year of 2024 due to loss making is certain of our
subsidiaries; (v) an increase of $0.9 million in prepayments and other current assets due to (A) an increase of $1.6 million in payment
to a supplier partially offset by (B) a decrease of $0.4 million in prepayments to suppliers and a decrease of $0.4 million in prepaid
advertising expenses; and (vi) a decrease of $0.6 million in other payable and accrued expenses.

Net cash provided by operating activities for
the year ended December 31, 2023 was $23.6 million, primarily attributable to a net income of $9.8 million, adjusted for
(i) a decrease of $6.4 million in accounts receivable as we collected certain aged accounts receivables from customers which
delayed in payments as affected by the COVID-19 pandemic at the end of year 2022, (ii) a decrease of $1.1 million in inventories because
we improved delivery process of cosmetic products; (iii) an increase of $2.8 million in accounts payable due to a $2.5
million purchase from one supplier in the last quarter, who offered us a credit term of 90 days; and (iv) an increase of $2.6 million
in income tax payable because we generated increased taxable income in our profit-making subsidiaries.

Net cash used in operating activities for the
year ended December 31, 2022 was $12.8 million, primarily attributable to a net income of $7.9 million, adjusted for (i) an
increase