ChineseNewsBreaks – Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) Notes ‘Surge’ in Revenue in FY 2023 Financial Report

May 01, 2024 at 11:23 AM EDT

Blue Hat Interactive (NASDAQ: BHAT), a company of commodity trading in China, is reporting its audited financial results for fiscal year 2023, or the period ended Dec. 31, 2023. According to the report, the company saw a surge in revenue. Specifically, the company reported revenue of $73.68 million for the year, a 33-times increase over its 2022 revenues. The company noted that the increase is due to the significant expansion of its commodity trading business, specifically jewelry and gold trading. The report also noted that, despite the substantial revenue growth, the company saw a net loss of $21.72 million for FY 2023, primarily because of bad debts and asset impairment. “Our achievements in 2023 represent not only a breakthrough in financial data but also a resounding affirmation of Blue Hat’s business strategy transition,” said Blue Hat Interactive CEO Chen Xiaodong in the press release. “In 2024, we will continue leveraging on the technology and experience we have accumulated in past few years. We will deepen our commodity trading in jewelry, especially the diamond and gold trading, and meanwhile expanding online gold derivatives trading, which aim to deliver excellent performance and reward our investors. Furthermore, we are committed to embracing the era of artificial intelligence and inspired to set a new benchmark as a ‘smart’ gold trader.”

To view the full press release, visit https://ibn.fm/nTOpH

About Blue Hat Interactive Entertainment Technology

Blue Hat was formerly a provider of communication services and IDC business, as well as a producer, developer, and operator of AR interactive entertainment games, toys, and educational materials in China. Leveraging years of technological accumulation and unique patented technology, Blue Hat is expanding its business to commodity trading, aiming to become a leading intelligent commodity trader worldwide. For more information, please visit the Company’s investor relations website at http://ir.bluehatgroup.com. The Company routinely provides important information on its website. For more information about the company, please visit https://IR.BlueHatGroup.com.

NOTE TO INVESTORS: The latest news and updates relating to BHAT are available in the company’s newsroom at http://ibn.fm/BHAT

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ChineseNewsBreaks – Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) Notes ‘Surge’ in Revenue in FY 2023 Financial Report

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