Company: ABLV
Filing Date: 2025-09-30
Form Type: 6-K
Source: 0001213900-25-093928
Chunk: 41

Company: Able View Global Inc.
Filing Date: 2025-09-30
Form: 6-K
Chunk 41
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 or 15% from $2.2 million for the six months ended June 30, 2024 to $1.9 million for the six months ended June 30, 2025. The decrease was mainly due to a decrease of $0.3 million in payroll and welfare expenses due to resignation of employees and a decrease of $0.3 million in other expenses as a result of decreased administrative department employees, partially offset by an increase of $0.3 million in professional expenses as we engaged in more professionals for advisory services for our operations. Income tax (expenses) benefits We recorded income tax expenses from continuing operations of $1.5 million for the six months ended June 30, 2025, as compared with tax benefits of $0.6 million for the six months ended June 30, 2024. For the six months ended June 30, 2025, we recorded current income tax expenses of $0.5 million, as compared with $97,814 for the same period of 2024. The increase in current income tax expenses was primarily attributable to taxable income generated by our subsidiaries in the PRC. For the six months ended June 30, 2025 and 2024, we recorded deferred tax expenses of $1.0 million and deferred tax benefits of $0.7 million, respectively. The deferred tax expenses for the six months ended June 30, 2025 was caused by the true up of prior year net operating losses as the Company reconciled its net operating losses with annual tax return and provision of inventory write-down against inventories purchased from Shanghai Jingyue. Net income (loss) from discontinued operations On June 27, 2025, the Company transferred 100% equity interest in Shanghai Jingyue to the Buyer at zero consideration. The Company disposed of Shanghai Jingyue as it experienced a decrease in sales of cosmetics products of certain brand names, and the Company expected that Shanghai Jingyue with the negative image, will continue to suffer a decrease in financial performance. In connection with the disposal of Shanghai Jingyue, the Company also agreed to purchase inventories with carrying value of $162,535 from Shanghai Jingyue at original cost of $3,330,617. In addition, the Buyer agreed to waive the Company’s liabilities of $4,389,889 due to Shanghai Jingyue. The disposal had a net increase in the income tax expense of $301,704, which was included in the net income from discontinued operation