6-K - AIOS - Equibles

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16Under the Securities Exchange Act of 1934

For the month of July 2024

Commission File Number: 001-37829

NISUN INTERNATIONAL ENTERPRISE DEVELOPMENT GROUPCO., LTD

(Registrant’s name)

21F, 55 Loushanguan Rd

Changning District Shanghai 200336

People’s Republic of China

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.:

Form 20-F ☒ Form 40-F ☐

EXHIBIT INDEX

Exhibits No.	Description
99.1	Press release dated July 12, 2024

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Nisun International Enterprise Development Group Co., Ltd
Date: July 12, 2024	By:	/s/ Changjuan Liang
	Name:	Changjuan Liang
	Title:	Chief Financial Officer<br><br> <br>(Principal Financial Officer) and<br><br> <br>Duly Authorized Officer

Exhibit 99.1

NisunInternational Reports Financial Results for Fiscal Year 2023

NisunAchieves 65% Revenue Growth and Ends the Year with $29.0 Cash Per Share

Shanghai, China – July 12, 2024 – Nisun International Enterprise Development Group Co., Ltd. (“Nisun International” or the “Company”) (NASDAQ: NISN), a technology and industry driven integrated supply chain solutions provider, today announced its financial results for the fiscal year ended December 31, 2023.

FinancialHighlights:

●	Revenue: Total revenue for the year was $386.7 million, representing a 65% increase compared to<br> $234.2 million in 2022.
●	Gross Profit: Gross profit increased to $40.0 million from $37.0 million in the previous year.
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●	Net Income: Net income for 2023 was $17.7 million.
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●	Cash and Cash Equivalents: The Company ended the year with $114.5 million in cash and cash<br> equivalents.
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●	Earnings per Share (EPS): The Company reported earnings of $4.46 per share, with a cash per share<br> value of $29.0.
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CEO’sComments:

Xin Liu, CEO of Nisun International, commented, “We are thrilled to report another year of outstanding financial performance, underscoring the success of our strategic initiatives and operational excellence. Our revenue growth of 65% is a testament to our robust supply chain solutions. We have made significant strides in expanding our supply chain capabilities, diversifying into other agricultural products. These efforts have positioned us well for sustained growth and profitability.”

Mr. Liu continued, “Despite our strong financial performance, substantial cash reserves of $29.0 per share, and robust earnings, our stock trades at just over one times annual earnings by the end of June. We believe this significantly undervalues our company. The Board of Directors and I are actively considering strategic alternatives to unlock shareholder value and better align our market valuation with the intrinsic value of our company. Our strong cash position and ongoing growth initiatives provide a solid foundation for these efforts.”

OperationalHighlights:

●	Supply Chain Trading and Solutions: Nisun International continues to enhance its supply chain<br> trading and financing solutions capabilities, leveraging state-of-the-art technology to streamline<br> operations and reduce costs. The Company successfully managed the daily supply of 3.6 to<br> 6 million eggs to major online platforms across key regions.
●	Geographical Expansion: The Company’s supply chain operations now span multiple regions, enabling<br> delivery of a diverse range of products. This extensive network ensures seamless operations<br> and strengthens Nisun’s market presence.
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●	Diversification: Nisun has expanded its supply chain solutions to include other agricultural products,<br> positioning the Company for substantial growth in the agricultural sector.
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LookingAhead:

Mr. Liu added, “Our commitment to innovation and excellence remains unwavering as we continue to drive growth and create value for our shareholders. The strategic expansion of our supply chain solution will enable us to meet the evolving needs of our customers and capitalize on new market opportunities. We are excited about the future and confident in our ability to achieve even greater success.”

InvestorRelations:

For more information, please visit the Investor Relations section of Nisun International’s website at: www.nisun-international.com.

AboutNisun International:

Nisun International Enterprise Development Group Co., Ltd (NASDAQ: NISN) is a technology-driven, integrated supply chain solutions provider focused on transforming the corporate finance industry. Leveraging its industry experience, Nisun is dedicated to providing professional supply chain solutions to Chinese and foreign enterprises and financial institutions. Through its subsidiaries, Nisun provides users with professional solutions for technology supply chain management, technology asset routing, and digital transformation of tech and finance institutions, enabling the industry to strengthen and grow. At the same time, Nisun continues to deepen the field of industry segmentation through industrial and financial integration. Focusing on industry-finance linkages, Nisun aims to serve the upstream and downstream of the industrial supply chain while also assisting with supply-side sub-sector reform.

CautionaryNote Regarding Forward-Looking Statements

Thispress release contains information about Nisun’s view of its future expectations, plans and prospects that constitute forward-lookingstatements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Actof 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Actual results may differ materiallyfrom historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but notlimited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business,variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products andservices, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketingand other business development initiatives, competition in the industry, general government regulation, economic conditions, dependenceon key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meetthe requirements of its clients, and its ability to protect its intellectual property. Nisun encourages you to review other factors thatmay affect its future results in Nisun’s registration statement and in its other filings with the Securities and Exchange Commission.Nisun assumes no obligation to update or revise its forward-looking statements as a result of new information, future events or otherwise,except as expressly required by applicable law.

For more information, please contact:

NisunInternational Enterprise Development Group Co., Ltd

Investor Relations

Tel: +86 (21) 2357-0055

Email: ir@cnisun.com

Horizon Research Management Consultancy

Michael Wei

Email: hwey@horizonconsultancy.co

NISUNINTERNATIONAL ENTERPRISE DEVELOPMENT GROUP CO., LTD AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS

(EXPRESSEDIN US DOLLARS)

			December 31,<br> 2022
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	114,454,844		$	63,901,329
Restricted cash	197,096			3,417,244
Short-term investments	12,788,629			11,700,400
Accounts receivable, net	21,120,795			18,931,346
Advance to suppliers, net	38,602,304			46,968,549
Receivables from supply chain solutions	59,167,029			43,475,981
Inventories	30,953,583			31,609,877
Prepaid expenses and other current assets	16,018,778			10,890,083
TOTAL CURRENT ASSETS	293,303,058			230,894,809
NON-CURRENT ASSETS:
Property and equipment, net	881,276			719,574
Intangible assets, net	882,828			1,795,234
Right-of-use assets, net	2,384,590			3,349,432
Equity investments	368,528			373,292
Investment in limited partnership	-			14,913,539
Goodwill	17,659,983			23,814,005
Deferred tax assets, net	418,571			310,577
Long term investment	-			7,249,319
TOTAL NON-CURRENT ASSETS	22,595,776			52,524,972
TOTAL ASSETS	315,898,834		$	283,419,781
LIABILITIES
CURRENT LIABILITIES:
Accounts payable	45,463,753		$	40,925,155
Short-term bank loans	1,971,859			434,959
Accrued expenses and other current liabilities	7,245,358			6,090,582
Operating lease liabilities - current	861,087			1,008,766
Payables to supply chain solutions	12,947,708			9,122,978
Advances from customers	38,153,915			21,827,387
Taxes payable	4,145,920			2,748,474
Loan from related party	-			8,028,965
Liabilities of financial guarantee	22,335			-
Due to related parties - current	274,652			282,724
TOTAL CURRENT LIABILITIES	111,086,587			90,469,990
Operating lease liabilities – non-current	1,643,076			2,425,597
Deferred tax liabilities	114,650			727,326
TOTAL NON-CURRENT LIABILITIES	1,757,726			3,152,923
TOTAL LIABILITIES	112,844,313			93,622,913
SHAREHOLDERS’ EQUITY*:
Class A common stock, 0.01 par value, 30,000,000 and 30,000,000 shares authorized, 4,017,596 and 4,006,263 shares issued, and 3,952,198 and 3,944,075 shares outstanding as of December 31, 2023 and 2022, respectively	40,176			40,063
Class B common stock, 0.01 par value, 1,000,000 shares authorized, no shares issued and outstanding as of December 31, 2023 and 2022	-			-
Treasury shares	(261,592	)		(355,844	)
Additional paid-in capital	130,535,082			130,503,387
Retained earnings	68,395,637			53,214,304
Statutory reserves	11,564,250			9,167,845
Accumulated other comprehensive loss	(11,474,682	)		(6,937,950	)
COMMON SHAREHOLDERS’ EQUITY	198,798,871			185,631,805
Non-controlling interests	4,255,650			4,165,063
TOTAL SHAREHOLDERS’ EQUITY	203,054,521			189,796,868
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	315,898,834		$	283,419,781

All values are in US Dollars.

*	The<br>financial statements give retroactive effect to the May 18, 2023 one-for-ten reverse share split.

NISUNINTERNATIONAL ENTERPRISE DEVELOPMENT GROUP CO., LTD AND SUBSIDIARIES

CONSOLIDATEDSTATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

(EXPRESSEDIN US DOLLARS)

	For the Year Ended December 31,
	2023			2022			2021
REVENUES:
Revenue generated from services:
Small and Medium Enterprise financing solutions	$	101,823,899		$	87,269,959		$	87,133,963
Supply Chain financing solutions		6,153,645			3,542,592			4,930,289
Other financing solutions		-			-			3,222
Total revenue generated from services		107,977,544			90,812,551			92,067,474
Revenue generated from sales:
Supply chain trading business		278,693,355			143,361,714			68,132,237
Total revenues		386,670,899			234,174,265			160,199,711
COST OF REVENUE:
Cost of revenue - services		(68,154,833	)		(55,472,076	)		(37,989,001	)
Cost of revenue - sales		(278,002,800	)		(140,880,063	)		(67,628,806	)
Business and sales related taxes		(527,336	)		(772,830	)		(533,760	)
GROSS PROFIT		39,985,930			37,049,296			54,048,144
OPERATING EXPENSES:
Selling expenses		(1,525,692	)		(1,977,617	)		(2,323,403	)
General and administrative expenses		(10,859,011	)		(10,511,542	)		(11,641,567	)
Research and development expenses		(1,093,457	)		(1,563,718	)		(1,599,728	)
Bad debt expense		(2,215,016	)		(4,509,634	)		(294,536	)
Goodwill Impairment Loss		(5,488,816	)		(777,329	)		-
Total operating expenses		(21,181,992	)		(19,339,840	)		(15,859,234	)
INCOME FROM OPERATIONS		18,803,938			17,709,456			38,188,910
OTHER INCOME :
Interest and investment income		2,557,588			2,790,768			2,122,903
Other income , net		2,159,301			2,021,688			464,210
Total other income, net		4,716,889			4,812,456			2,587,113
INCOME BEFORE PROVISION FOR INCOME TAXES		23,520,827			22,521,912			40,776,023
PROVISION FOR INCOME TAXES		(5,817,147	)		(4,741,854	)		(10,269,501	)
NET INCOME		17,703,680			17,780,058			30,506,522
Net income attributable to non-controlling interests		(125,942	)		(159,246	)		(126,161	)
NET INCOME - Nisun International’s shareholders	$	17,577,738		$	17,620,812		$	30,380,361
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation (loss) income		(4,536,797	)		(12,576,380	)		2,039,011
COMPREHENSIVE INCOME		13,040,941			5,044,432			32,419,372
Comprehensive loss attributable to non-controlling interests		65			6,231			2,051
COMPREHENSIVE INCOME	$	13,041,006		$	5,050,663		$	32,421,423
BASIC AND DILUTED EARNINGS PER COMMON SHARE:
NET EARNINGS PER COMMON SHARE	$	4.46		$	4.42		$	14.13
Weighted average number of shares outstanding-basic and diluted*		3,943,793			3,986,359			2,150,683
*	The<br>financial statements give retroactive effect to the May 18, 2023 one-for-ten reverse share split.
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NISUNINTERNATIONAL ENTERPRISE DEVELOPMENT GROUP CO., LTD AND SUBSIDIARIES

CONDENSEDSTATEMENTS OF CASH FLOWS

FORTHE YEARS ENDED DECEMBER 31, 2023, 2022 and 2021

(EXPRESSEDIN US DOLLARS)

	2023			2022			2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	17,703,680		$	17,780,058		$	30,506,522
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization		2,238,222			2,113,732			2,180,038
Stock-based compensation		-			125,630			498,825
Shares issued for compensation		31,808			185,000			71,175
Bad debt expense		2,215,016			4,509,634			294,536
Impairment of goodwill		5,488,816			777,329			-
Loss on disposition of property and equipment		-			1,385			190,301
Income from investments		(365,359	)		(541,578	)		(808,464	)
Deferred tax (benefit) expense		(710,672	)		271,907			275,749
Changes in operating assets and liabilities:
Accounts receivable		(3,086,600	)		(2,075,274	)		(13,294,924	)
Advance to suppliers, net		7,282,068			(39,859,386	)		(9,213,279	)
Prepaid expenses and other current assets		(5,511,142	)		(4,734,501	)		(3,464,939	)
Receivables from supply chain solutions		(18,651,357	)		11,372,841			(48,202,128	)
Inventories		(246,818	)		(25,530,993	)		(3,931,400	)
Accounts payable		5,722,300			7,693,011			33,620,611
Advance from customers		16,986,750			19,085,377			3,375,769
Taxes payable		1,478,316			(5,574,048	)		5,575,502
Other payables		3,232,387			-			2,576,570
Payable to supply chain solutions		4,096,141			(15,198,883	)		25,608,622
Operating lease liabilities		(834,381	)		(855,242	)		(952,495	)
Accrued expenses and other current liabilities		(1,569,395	)		1,501,078			(1,049,489	)
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES		35,499,780			(28,952,923	)		23,857,102
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property and equipment		(503,957	)		(652,585	)		(186,705	)
Purchase of intangible assets		(44,029	)		(74,710	)		(18,281	)
Cash (paid) received in connection with Nami acquisition		-			-			(7,007,905	)
Cash paid in connection with acquisition, net of cash received		-			(530,322	)		-
Cash received on disposal of discontinued operations		-			-			14,950,730
Proceeds from sale of short-term investments		103,458,984			78,595,280			4,894,270
Proceeds from sale of Long-term investment		7,061,233			-			-
Proceeds from investment in debt securities		14,366,013			-			-
Purchase of short-term investments		(104,365,028	)		(51,567,746	)		(39,526,099	)
Purchase of Long-term investments		-			(7,430,511	)		-
Collection of loans to third parties		-			-			1,643,203
Proceeds from disposal of subsidiary		71,514			-			-
Loans to third parties		(229,161	)		(501,905	)		-
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES		19,815,569			17,837,501			(25,250,787	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from short-term bank loans		1,553,471			445,831			784,609
Proceeds from issuance of common shares and pre-funded warrants		-			-			70,794,465
Proceeds from third-party loans		1,977,145			36,770,626			-
Repayment of short-term bank loans		(29,961	)		(1,239,983	)		-
Repayment of third-party loans		(2,277,954	)		(41,491,973	)		-
Repayment to related parties		-			(10,097	)		(1,803,374	)
Repayment of loan from related parties		(8,028,965	)		(2,500,000	)		-
Purchase of treasury shares		94,252			(355,844	)		-
Capital contribution from non-controlling interest		(35,290	)		37,116			751,841
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES		(6,747,302	)		(8,344,324	)		70,527,541
EFFECT OF EXCHANGE RATE CHANGE ON CASH AND CASH EQUIVALENTS		(1,234,680	)		(4,848,722	)		294,928
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS		47,333,367			(24,308,468	)		69,428,784
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH FROM CONTINUING OPERATIONS-BEGINNING		67,318,573			91,627,041			22,198,257
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH FROM CONTINUING OPERATIONS-ENDING	$	114,651,940		$	67,318,573		$	91,627,041
SUPPLEMENTAL CASH FLOW DISCLOSURES:
Cash paid for income taxes	$	4,530,963		$	10,385,495		$	5,546,082
Cash paid for interest	$	29,961		$	496,932		$	370,356
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES:
Repayment payable for business disposition		279,037			-			-
Receivable from disposal of subsidiary	$	-		$	289,973		$	-
Lease liabilities arising from obtaining right-of-use assets		295,220			4,070,163			-
Issuance of shares for share-based compensation	$	-		$	-		$	71,175
CASH AND CASH EQUIVALENTS FROM CONTINUING OPERATIONS ARE COMPRISED OF THE FOLLOWING:
Cash and cash equivalents	$	114,454,844		$	63,901,329		$	91,447,620
Restricted cash		197,096			3,417,244			179,421
Total cash, cash equivalents and restricted cash	$	114,651,940		$	67,318,573		$	91,627,041