Company: CNEY
Filing Date: 2025-10-29
Form Type: F-1/A
Source: 0001477932-25-007791
Chunk: 80

Company: CN ENERGY GROUP. INC.
Filing Date: 2025-10-29
Form: F-1/A
Chunk 80
---
 for the Fiscal Years Ended September 30, 2023 and 2022

The following table summarizes our results of operations for the fiscal years ended September 30, 2023 and 2022, respectively, and provides information regarding the dollar and percentage increase or (decrease) during such fiscal years.

|                                     |     | Fiscal year ended September 30, |        2023 |   |     |   |        2022 |   |     | Variance |     Amount |   |     |     |        % |    |
|:------------------------------------|:----|:--------------------------------|------------:|:--|:----|:--|------------:|:--|:----|:---------|-----------:|:--|:----|:----|---------:|:---|
| Revenue                             |     | $                               |  57,899,096 |   |     | $ |  40,205,586 |   |     | $        | 17,693,510 |   |     |     |     44.0 | %  |
| Cost of revenue                     |     |                                 | (57,110,446 | ) |     |   | (36,563,945 | ) |     |          | 20,546,501 |   |     |     |     56.2 | %  |
| Gross profit                        |     |                                 |     788,650 |   |     |   |   3,641,641 |   |     |          | (2,852,991 | ) |     |     |    (78.3 | )% |
| Allowance for inventory             |     |                                 |    (195,355 | ) |     |   |           - |   |     |          |    195,355 |   |     |     |    100.0 | %  |
| Selling expenses                    |     |                                 |     (53,008 | ) |     |   |     (89,312 | ) |     |          |    (36,304 | ) |     |     |    (40.6 | )% |
| General and administrative expenses |     |                                 |  (5,730,147 | ) |     |   |  (2,060,122 | ) |     |          |  3,670,025 |   |     |     |    178.1 | %  |
| Research and