XIAMEN, China, May 02, 2025 — Blue Hat Interactive Entertainment Technology (“Blue Hat” or the “Company”) (NASDAQ: BHAT) has announced its audited financial results for the year ending December 31, 2024. Management’s strategic direction led the company to capitalize on opportunities within the gold sector, marked by the acquisition of 1 ton of physical gold for roughly $66.49 million in August 2024, alongside establishing strong partnerships with prominent gold industry players. While strategic shifts caused a 74.59% decrease in total revenues from $73.69 million in 2023 to $18.72 million in 2024, Blue Hat saw a 53% increase in total assets, with current assets growing by an even more substantial 78%. This asset growth, particularly driven by the gold acquisition, has built a strong resource base to support the company’s transition to its new business model. Simultaneously, business optimization and cost management efforts led to a 56% reduction in net loss, decreasing from $21.72 million in 2023 to $9.52 million in 2024, highlighting significant improvements in operational performance.
In terms of profitability, the company’s gross margin significantly improved from 1.6% in 2023 to 8.3%, signaling a considerable advancement in profit quality. Although the 1-ton gold acquisition did not generate revenue by year-end due to a strategic holding approach, this investment is expected to contribute to future revenue as the company implements its gold trading strategy. Cash flow also improved considerably, with net cash outflow from operating activities falling sharply by 91% from $9.77 million to $880,000, indicating notable gains in operational efficiency. While business expansion increased liabilities, the company maintained a robust shareholder equity position, providing substantial financial flexibility for future expansion.
Looking forward to 2025, the company plans to further solidify its position in the gold industry by prioritizing three strategic objectives: First, strategically manage and potentially increase its physical gold reserves to optimize its asset base, while closely monitoring market conditions and price volatility; second, deeply integrate upstream and downstream supply chain resources to develop a comprehensive industrial ecosystem; and third, accelerate the development and promotion of a digital gold trading platform to establish a transparent and efficient new standard for gold trading. The company believes that ongoing innovation in its business model and the application of technology will generate greater long-term value for shareholders and drive the company towards a new era of high-quality growth.
About Blue Hat
Previously a provider of communication services and a producer, developer, and operator of AR interactive entertainment games, toys, and educational materials in China, Blue Hat is now expanding into commodity trading, leveraging its technological expertise and patented technology to become a leading global intelligent commodity trader. More information is available on the Company’s investor relations website at http://ir.bluehatgroup.com, where the Company regularly posts important updates.
Forward-Looking Statements
This press release includes forward-looking statements as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are inherently uncertain and based on current expectations and assumptions regarding future events or the Company’s future performance. Investors are advised not to unduly rely on these forward-looking statements, which are predictive only as of the date of this release. When evaluating these statements, investors should carefully consider the risks and uncertainties described in this release and in the Company’s filings with the SEC. These risks and uncertainties could cause the Company’s actual results to differ significantly from those projected in the forward-looking statements.
Contact Information:
Blue Hat Interactive Entertainment Technology
Phone: +86(592)228-0010
Email: ir@bluehatgroup.net
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