Company: LICN
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036244
Chunk: 29

Company: Lichen International Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 4A
Chunk 29
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 from the net income of $7.82 million, and the depreciation of
property and equipment and the amortization of intangible, right-of-use and other assets in the amount of approximately $2.73 million
and the due to the related parties in the amount of approximately $1.02 million, offset by the deferred IPO costs in the amount of approximately
$1.10 million and the prepayments and other current assets in the amount of approximately $0.71 million.

Investing Activities

Net cash used in
investing activities was approximately $9.89 million for the year ended December 31, 2024, as compared to approximately $9.87
million in net cash used in investing activities for the year ended December 2023. Net cash used in investing activities for the
year ended December 31, 2024 was primarily attributable to the deposit of AI software in the amount of approximately $5.90 million
and cash consideration related to purchase of Bondly HK in the amount of approximately $3.82 million, while net cash used in
investing activities was approximately $9.87 million for the year ended December 31, 2023, as compared to approximately $2.84
million in net cash used in investing activities for the year ended December 2022. Net cash used in investing activities for the
year ended December 31, 2023 mainly resulted from the purchases of property and equipment, net in the amount of approximately
$2.06 million, purchase of intangible assets in the amount of approximately $3.20 million and the deposit of Haicang property in the
amount of $4.60 million. Net cash provided in investing activities for the year ended December 31, 2022 mainly resulted from the
purchases of property and equipment, net in the amount of approximately $1.95 million and purchase of intangible assets in the
amount of approximately $0.89 million.

Financing Activities:

Net cash provided
byfinancing activities was approximately $13.09 million for the year ended December 31, 2024 consisted of proceeds from
issuance of Class A ordinary shares in the amount of approximately $12.22 million and the due to a related party amounted to
approximately $0.86 million. Net cash provided by financing activities was approximately $14.10 million for the year ended December
31, 2023 consisted entirely of the proceeds of IPO in the amount of approximately $14.10 million