Company: CNEY
Filing Date: 2025-10-29
Form Type: F-1/A
Source: 0001477932-25-007791
Chunk: 81

Company: CN ENERGY GROUP. INC.
Filing Date: 2025-10-29
Form: F-1/A
Chunk 81
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     |   (452.3 | )% |

Revenue

Total revenue for the fiscal year ended September 30, 2023 increased by $17.7 million, or 44.0%, to $57.9 million from $40.2 million for the fiscal year ended September 30, 2022. The increase was mainly due to an increase in sales volume of activated carbon from 28,911 tons in fiscal 2022 to 40,251 tons in fiscal 2023.

The following table sets forth the breakdown of our revenue for the fiscal years ended September 30, 2023 and 2022, respectively:

|                     |     | Fiscal year ended September 30, |       2023 |     |     |     % |   |     |   |       2022 |     |     |     % |   |     | Variance |     Amount |   |     |     |      % |    |
|:--------------------|:----|:--------------------------------|-----------:|:----|:----|------:|:--|:----|:--|-----------:|:----|:----|------:|:--|:----|:---------|-----------:|:--|:----|:----|-------:|:---|
| Activated carbon    |     | $                               | 57,879,320 |     |     | 100.0 | % |     | $ | 39,925,693 |     |     |  99.3 | % |     | $        | 17,953,627 |   |     |     |   45.0 | %  |
| Biomass electricity |     |                                 |     19,776 |     |     |   0.0 | % |     |   |    150,716 |     |     |   0.4 | % |     |          |   (130,940 | ) |     |     |  (86.9 | )% |
| Technical services  |     |                                 |          - |     |     |     - |   |     |   |    129,177 |     |     |   0.3 | % |     |          |   (129,177 | ) |     |     | (100.0 | )% |
| Total               |     | $                               | 57,899,096 |     |     | 100.0 | %