CXJ GROUP CO., Ltd
For the period ended Nov 30, 2024. Filed Jan 8, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Nov 30, 2024 · Filed Jan 8, 2025
ECXJStored price and day change unavailable
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2024-08-31; filed 2024-11-27.
0001493152-24-047917
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2024-11-30; filed 2025-01-08.
0001493152-25-001449
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 51 previous paragraphs and 51 current paragraphs.
37 unchanged; 12 reworded; 2 added; 2 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 7 previous and 7 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (2)
Current report
Net (Loss)/Profit
Current report
Cash flow used in operating activities for the six months ended November 30, 2024 and 2023 is $397,664 and $542,850 respectively, reflecting an increase of cash flow $145,186. The increase is mainly due to decrease net loss $117,733, increase cash flow of advanced received $439,072, accounts payable $138,356, inventories $11,963, amortization of right-of-use assets $8,484, accounts receivable $2,604, impairment of intangible assets $1,597, depreciation $46 and offset decrease in accrued liabilities, deposit received and other payables $328,078, prepayments, deposits and other receivables $169,340, amortization of intangible assets $68,871, operating lease expenses $8,380.
Removed paragraphs (2)
Previous report
Net Profit/(Loss)
Previous report
Cash flow provided by operating activities for the three months ended August 31, 2024 and 2023 is $75,876 and $100,463 respectively, reflecting a decrease of cash flow $24,587. The decrease in net cash provided by operating activities is mainly due to decrease cash flow of advance received $428,134, prepayment, deposit and other receivable $83,464, amortization of intangible assets $51,266, inventory $17,690, accrued liabilities and other payable $12,199, operating lease liabilities $9,008, accounts receivable $872, and offset net cash inflow of decrease net loss $464,642, accounts payable $103,255, amortization of right-use of assets $8,480, impairment of intangible assets $1,588 and depreciation $81.
Reworded paragraphs (12)
Previous wording
For the three months period ended August 31, 2024, we generated total revenue of $114,382 that included brand name administrative fee $85,018, exhaust gas cleaner, motor oil and auto parts $29,297 and others $67.
Current wording
For the three months period ended November 30, 2024, we generated total revenue of $100,875 that included brand name administrative fee $41,053, exhaust gas cleaner, motor oil and auto parts $59,746 and others $76.
Previous wording
Total revenues for three months ended August 31, 2024 were $114,382 compared to $504,517 for the three months ended August 31, 2023, which decreased by $390,135. Due to the slow market activity, brand name administrative fee decreased by $98,063 and exhaust gas cleaner, motor oil, auto parts and others decreased by $292,072.
Current wording
Total revenues for three months ended November 30, 2024 were $100,875 compared to $866,366 for the three months ended November 30, 2023, which decreased by $765,491. Due to the slow market activity, brand name administrative fee decreased by $325,029, exhaust gas cleaner, motor oil, auto parts and others decreased by $439,609 and others $853.
Previous wording
Revenues related to sales of exhaust gas cleaner, motor oil and auto parts are recognized in the consolidated statements of operations and comprehensive income/(loss) at the time when the goods are delivered and the ownership transfer to the customers.
Current wording
Revenues related to sales of exhaust gas cleaner, motor oil and auto parts are recognized in the consolidated statements of operations and comprehensive (loss)/income at the time when the goods are delivered and the ownership transfer to the customers.
Previous wording
Cost of revenue for the three months ended August 31, 2024 were $19,373 compared to $223,930 as of ended August 31, 2023, a decrement of $204,557. Due to the slow market activity, exhaust gas cleaner, motor oil and auto parts decreased by $204,841 and offset increase of others by $284.
Current wording
Cost of revenue for the three months ended November 30, 2024 were $35,433 compared to $335,973 as of ended November 30, 2023, a decrement of $300,540. Due to the slow market activity, exhaust gas cleaner, motor oil and auto parts decreased by $299,893 and others by $647.
Previous wording
Gross profit for the three months ended August 31, 2024 were $95,009 compared to $280,587 as of August 31, 2023, a decrement of $185,578 is mainly due to the decrease of revenue from brand name administrative fee and sales of motor oil and auto parts.
Current wording
Gross profit for the three months ended November 30, 2024 were $65,442 compared to $530,393 as of November 30, 2023, a decrement of $464,951 is mainly due to the decrease of revenue from brand name administrative fee $325,029 and sales of exhaust gas cleaner, motor oil and auto parts $139,716 and others $206.
Previous wording
Selling and Distribution expenses for the three months ended August 31, 2024 were $56,129 compared to $156,563 as of August 31, 2023, a decrease of $100,434 is due to decrease in promotion expenses $54,022, payroll costs $24,552, consultancy fee $10,176, travelling expenses $7,367, conference expenses $3,782, transportation costs $2,568, other expenses $66, offset increased in office expenses $1,042, sales commission $900 and entertainment expenses $157. The decrease in selling and distribution expenses is due to slow market activity.
Current wording
Selling and Distribution expenses for the three months ended November 30, 2024 were $48,624 compared to $183,389 as of November 30, 2023, a decrease of $134,765 is due to decrease in sales commission $81,428, promotion expenses $17,581, payroll costs $10,639, travelling expenses $11,134, consultancy fees $4,911, conference expenses $4,875, transportation costs $2,704, office expenses $786 and others $707 The decrease in selling and distribution expenses is due to slow market activity.
Previous wording
G&A expenses for the three months ended August 31, 2024 were $82,547 compared to $634,930 as of August 31, 2023, a decrease of $552,383 was primarily due to the decrease of consultancy fees $460,224, amortization of intangible assets $34,771, payroll costs $21,737, office expenses $16,998, impairment of development costs $14,907, travelling expenses $6,541, entertainment expenses $1,689 and others $1,056, offset increase in R&D expenses $3,165 and rental $2,375. The decrease in general and administrative expenses is due to slow market activity.
Current wording
G&A expenses for the three months ended November 30, 2024 were $123,570 compared to $149,720 as of November 30, 2023, a decrease of $26,150 was primarily due to the decrease of consultancy fees $34,435, office expenses $16,547, payroll costs $16,191, R&D expenses $11,773, entertainment expenses $8,834, travelling expenses $2,294, offset increase in consultancy fees $55,885, rental $986 and others $7,053. The decrease in general and administrative expenses is due to slow market activity.
Previous wording
We recorded a income tax refund of $2,263 and $0 income tax expenses for the period ended August 31, 2024 and August 31, 2023, respectively.
Current wording
We recorded an income tax expense of $37,017 and $0 for the period ended November 30, 2024 and November 30, 2023, respectively.
Previous wording
Net loss $41,567 and $502,944 occurred for the three months ended August 31, 2024 and 2023 respectively, due to the factors discussed above.
Current wording
Net loss $143,693 and net profit $203,216 occurred for the three months ended November 30, 2024 and 2023 respectively, due to the factors discussed above.
Previous wording
Cash flow used in investing activities is $1,588 for the three months ended August 31, 2024, as compared to $21,600 for the three months ended August 31, 2023, reflecting an increase of cash flow $20,012. The increase is due to decrease of investment in development costs $14,907, disposal of subsidiary, net of cash disposed $2,804 and purchase of property, plant and equipment $2,301.
Current wording
Cash flow used in investing activities is $1,592 for the six months ended November 30, 2024, as compared to $5,084 for the six months ended November 30, 2023, reflecting an increase of cash flow $3,492. The increase is due to decrease of purchase of property and equipment $2,280, disposal of subsidiary, net of cash disposed $2,804 and offset increase of investment in development costs $1,592.
Previous wording
Cash flow used in financing activities is $5,540 for the three months ended August 31, 2024, compared to provide by financing activities $14,204 for the three months ended August 31, 2023, reflecting an increase of $8,664. The decrease in net cash used in financing activities was mainly due to advance to director $13,904 and offset advance to related party $5,240.
Current wording
Cash flow provided by financing activities is $394,463 for the six months ended November 30, 2024, compared to use in financing activities $32,753 for the six months ended November 30, 2023, reflecting an increase of $427,216. The increase in net cash provided by financing activities was mainly due to proceeds from share issuance $369,728, advance to related parties $124,484 and offset decrease in advances to directors $66,996.
Previous wording
A provision of $84,626 is provided, where the Company has a business dispute with a customer, and the customer lodged a police report but no legal action is taken against us.
Current wording
A provision of $82,873 is provided, where the Company has a business dispute with a customer, and no legal action is taken against us.