Company: CNEY
Filing Date: 2025-10-29
Form Type: F-1/A
Source: 0001477932-25-007791
Chunk: 75

Company: CN ENERGY GROUP. INC.
Filing Date: 2025-10-29
Form: F-1/A
Chunk 75
---
14,040,769 | ) |     | $ |  (5,625,740 | ) |     | $        |  8,415,029 |   |     |     |   149.6 | %  |

Revenue

The following table sets forth the breakdown of our revenue for the fiscal years ended September 30, 2024 and 2023, respectively:

|                     |     | Fiscal year ended September 30, |       2024 |     |     |     % |   |     |   |       2023 |     |     |     % |   |     | Variance | Amount     |   |     |     | %      |    |
|:--------------------|:----|:--------------------------------|-----------:|:----|:----|------:|:--|:----|:--|-----------:|:----|:----|------:|:--|:----|:---------|:-----------|:--|:----|:----|:-------|:---|
|                     |     |                                 |            |     |     |       |   |     |   |            |     |     |       |   |     |          |            |   |     |     | -      |    |
| Activated carbon    |     | $                               | 50,957,974 |     |     | 100.0 | % |     | $ | 57,879,320 |     |     | 100.0 | % |     | $        | (6,921,346 | ) |     |     | (12.0  | )% |
| Biomass electricity |     |                                 |          - |     |     |     - |   |     |   |     19,776 |     |     |   0.0 | % |     |          | (19,776    | ) |     |     | (100.0 | )% |
| Total               |     | $                               | 50,957,974 |     |     | 100.0 | % |     | $ | 57,899,096 |     |     | 100.0 | % |     | $        | (6,941,122 | ) |     |     | (12.0  | )% |

| 46 |

Activated carbon

Revenue from activated carbon for the fiscal year ended September 30, 2024 decreased by $6.