Company: ABLV
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001213900-25-034677
Chunk: 119

Company: Able View Global Inc.
Filing Date: 2025-04-23
Form: 20-F
Item: Item 4A
Chunk 119
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 to provision of operation services.

Gross margin

As a result of foregoing, our gross margin was
25% and 22% for the years ended December 31, 2023 and 2022.

Selling and marketing expenses

Our selling and marketing expenses slightly decreased
by $1.2 million, or 6% from $18.3 million for the year ended December 31, 2022 to $17.1 million for the year ended December
31, 2023. The decrease was mainly due to 1) a decrease of $1.1 million in freight and warehouse expenses because we reduced expenditures
in disinfectant for packages with the lifting of COVID restrictions; 2) a decrease of $0.9 million in payroll and welfare expenses because
we assigned certain sales persons to take charge of operation services, and the related payroll and welfare expense were recorded in cost
of revenues in the year of 2023, partially offset by an increase of $1.2 million in promotion and advertising expenses as we invested
our efforts in online advertising activities to promote beauty and personal care brands and products.

General and administrative expenses

Our general and administrative expenses increased
by $2.4 million, or 59% from $4.1 million for the year ended December 31, 2022 to $6.5 million for the year ended December
31, 2023. The increase was mainly due to 1) an increase of $1.4 million in professional expenses as we engaged in more professionals
for advisory services for our business, 2) an increase of $0.4 million in office rental expenses because we moved to new office in March
2023, the rental fee of which costs higher than pervious office, and 3) an increase of $0.2 million in inventory breakage due to product
obsolescence.

Income tax expenses

Our income tax expenses increased from $1.5 million
for the year ended December 31, 2022 to $1.9 million for the year ended December 31, 2023.

For the year ended December 31, 2023, we recorded
current income tax expenses of $3.1 million, as compared with $2.1 million for the same period of 2022. The increase in current income
tax expenses was primarily attributable to increased taxable income in our profit-generating subsidiaries for the year ended December
31, 2023.

For the year ended December