西安天美生物科技宣布上半年的收入和凈利潤(rùn)創(chuàng)下新高

收入增加（減少）

毛利潤(rùn)增加（減少）

香料原料

133.0%

226.9%

膳食補(bǔ)充劑（固體飲料）

338.4%

306.0%

生物活性食品原料

(69.7%)

(79.0%)

In the United States:                                                        

In China:

Maggie Zhang | Impact IR                                              

Sophie Zhang | Impact IR

Phone: (646) 893-8916  

Email: sophie.zhang@irimpact.com      

Email: maggie.zhang@irimpact.com

BON NATURAL LIFE LIMITED AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

As of

March 31, 2021

September 30, 2020

ASSETS

CURRENT ASSETS

Cash

$

1,040,607

$

53,106

Accounts receivable, net

8,869,747

5,771,008

Inventories, net

1,446,516

1,016,442

Advance to suppliers, net

1,894,359

3,491,145

Deferred initial public offering costs

984,162

510,079

Prepaid expenses and other current assets

106,786

7,434

TOTAL CURRENT ASSETS

14,342,177

10,840,214

Property, plant and equipment, net

14,590,470

14,171,963

Intangible assets, net

144,126

140,993

Right-of-use lease assets, net

229,532

Deferred tax assets, net

37,032

49,059

TOTAL ASSETS

$

29,343,337

$

25,202,229

LIABILITIES AND SHAREHOLDERS’ EQUITY

CURRENT LIABILITIES

Short-term loans

$

1,823,215

$

1,289,081

Current portion of long-term loans

2,318,528

1,227,346

Third party loans

-

690,327

Accounts payable

577,311

1,288,629

Due to related parties

1,019,128

2,322,990

Taxes payable

5,688,786

4,402,625

Accrued expenses and other current liabilities

1,275,936

442,582

Finance lease liabilities, current

148,983

33,389

Operating lease liability, current

57,051

TOTAL CURRENT LIABILITIES

$

12,908,938

$

11,696,969

Long-term loans

2,106,180

2,482,251

Finance lease liabilities, noncurrent

110,499

-

Operating lease liability, noncurrent

176,701

-

TOTAL LIABILITIES

15,302,318

14,179,220

COMMITMENTS AND CONTINGENCIES EQUITY

Ordinary shares, $0.0001 par value, 500,000,000 shares authorized,
5,800,000 shares issued and outstanding as of March 31, 2021 and
September 30, 2020 *

$

580

$

580

Additional paid in capital

5,567,873

5,251,205

Statutory reserve

579,922

579,922

Retained earnings

7,384,071

5,072,672

Accumulated other comprehensive income (loss)

15,421

(388,102)

TOTAL BON NATURAL LIFE LIMITED SHAREHOLDERS’ EQUITY

13,547,867

10,516,277

Non-controlling interest

493,152

506,732

Total equity

14,041,019

11,023,009

TOTAL LIABILITIES AND EQUITY

$

29,343,337

$

25,202,229

*Retrospectively restated for effect of 1-for-3 shares reverse split.

BON NATURAL LIFE LIMITED AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(UNAUDITED)

For the six months ended

March 31,

2021

2020

REVENUE

$

11,698,830

$

7,149,785

COST OF REVENUE

(8,325,148)

(4,597,617)

GROSS PROFIT

3,373,682

2,552,168

OPERATING EXPENSES

Selling expenses

(52,666)

(59,765)

General and administrative expenses

(679,635)

(811,799)

Research and development expenses

(106,998)

(128,481)

Total operating expenses

(839,299)

(1,000,045)

INCOME FROM OPERATIONS

2,534,383

1,552,123

OTHER INCOME (EXPENSES)

Interest income

294

451

Interest expense

(197,168)

(172,913)

Unrealized foreign transaction exchange gain (loss)

(65,691)

(4,300)

Government subsidies

446,910

332,418

Other income

41,548

136,482

Total other income (expenses)

225,893

292,138

INCOME BEFORE INCOME TAX PROVISION

2,760,276

1,844,261

INCOME TAX PROVISION

(465,077)

(249,766)

NET INCOME

2,295,199

1,594,495

Less: net income (loss) attributable to non-controlling interest

(16,200)

61,317

NET INCOME ATTRIBUTABLE TO BON NATURAL LIFE LIMITED

2,311,399

1,533,178

OTHER COMPREHENSIVE INCOME (LOSS)

Total foreign currency translation adjustment

406,143

32,468

TOTAL COMPREHENSIVE INCOME

2,701,342

1,626,963

Less: comprehensive income (loss) attributable to non-controlling
interest

(13,580)

59,939

COMPREHENSIVE INCOME ATTRIBUTABLE TO BON
NATURAL LIFE
LIMITED

$

2,714,922

$

1,567,024

EARNINGS PER SHARE

Basic and diluted

$

0.40

$

0.30

WEIGHTED AVERAGE NUMBER OF SHARES
OUTSTANDING

Basic and diluted*

5,800,000

5,166,667

BON NATURAL LIFE LIMITED AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

For the six months ended

March 31,

2021

2020

Cash flows from operating activities

Net income

$

2,295,199

$

1,594,495

Adjustments to reconcile net income to cash provided by operating
activities

Allowance for doubtful accounts

6,323

23,316

Depreciation and amortization

117,888

134,457

Deferred income tax

13,879

(19,459)

Amortization of operating lease right-of-use assets

26,195

-

Unrealized foreign currency exchange loss

65,691

4,300

Changes in operating assets and liabilities:

Accounts receivable

(2,898,493)

(410,656)

Inventories

(391,958)

482,914

Advance to suppliers

1,738,442

(1,787,999)

Prepaid expenses and other current assets

(99,108)

17,251

Accounts payable

(760,103)

(809,818)

Operating lease liabilities

(21,975)

-

Taxes payable

1,120,847

905,514

Accrued expenses and other current liabilities

786,942

412,845

Net cash provided by operating activities

1,999,769

547,160

Cash flows from investing activities

Purchase of property and equipment

(715)

(26,957)

Capital expenditures on construction-in-progress

-

(403,911)

Net cash used in investing activities

(715)

(430,868)

Cash flows from financing activities

Proceeds from short-term loans

943,517

601,833

Proceeds from long-term loans

685,067

41,001

Repayment of short-term loans

(457,729)

(1,211,475)

Repayment of long-term loans

(109,382)

-

Proceeds from (repayment of) borrowings from related parties

(1,391,813)

393,367

Proceeds from (repayment of) third party loans

(716,574)

76,797

Principal payment from (repayment of) finance lease

254,970

(195,863)

Payment for deferred initial public offering costs

(155,557)

(42,705)

Net cash used in financing activities

(947,501)

(337,045)

Effect of changes of foreign exchange rates on cash

(64,052)

15,605

Net increase (decrease) in cash

987,501

(205,148)

Cash, beginning of year

53,106

293,771

Cash, end of year

$

1,040,607

$

88,623

Supplemental disclosure of cash flow information

Cash paid for interest expense

$

215,268

$

172,913

Cash paid for income tax

$

1,424

$

-

Supplemental disclosure of non-cash investing and financing activities

Amortization of share-based compensation for initial public offering
services

$

316,668

$

-

Right-of-use assets obtained in exchange for operating lease
obligations

255,811

-