Ebang International Holdings Inc. (EBON) stock plunged 2% in the pre-market trading session at the price of $1.46 despite no fundamental updates.
EBON is a blockchain technology corporation that designs and develops application-specific integrated circuit (ASIC) chips. The company has evolved as an international producer of bitcoin mining machines with full access to wafer foundry capacity.
EBON Scheduled General Meeting of Shareholders
On 15th November 2021, EBON had scheduled its Annual General Meeting of Shareholders on 15th December 2021 at 9:00 a.m. The conference will take place at the offices of Sullivan & Worcester LLP, 1633 Broadway, 32nd Floor, New York. Only recorded owners of Class A and Class B ordinary shares as of 10th November 2021 will be notified to vote at the Annual Meeting 2021.
EBON First-Half Fiscal 2021 Financial Results
On 1st October 2021, EBON reported its unaudited financial results for the first six months of fiscal 2021. Chief Executive Officer of EBON, Mr. Dong Hu commented that they had always been focused on the design, development, and trade of Bitcoin mining machines. To acquire long-term steady growth, they are growing financial technology (FinTech) business while steadily developing mining machines of Bitcoin and other cryptocurrencies.
EBON calculated net revenues of $18.30 million for the first half of 2021. It represents a 65.69% gain from $11.04 million in the same six months of 2020. The cost of revenues totaled $12.66 million for the first six months of 2021. A gross profit was $5.64 million for the first six months of 2021. For the first half of 2020, the company reported a gross loss of $0.97 million.
Loss from operations totaled $4.95 million for the first half of 2021. For the same period of 2020, the loss from operations was $8.68 million. EBON calculated a net loss of $4.26 million for the first six months of 2021. Net loss was $6.96 million for the same six months of 2020. Net loss attributable to the company was $3.58 million for the first six months of 2021. Basic and diluted net loss per share was $0.02 in the first half of 2021.