Bon Natural Life Ltd 6-K, filed Feb 3, 2022

Bon Natural Life Ltd (BON)

6-K 2022-02-03 For: 2022-02-02

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Added on April 08, 2026

About this 6-K

Bon Natural Life Ltd filed this 6-K on February 3, 2022.

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Date: February 2, 2022	Bon Natural Life Limited

	By:	/s/ Yongwei Hu
		Yongwei Hu
		Chairman and Chief Executive Officer

Exhibit Number		Description
99.1		Press Release (English)
99.2		Press Release (Chinese)

	Revenues increase (decrease)			Gross Profits increase (decrease)
Fragrance Compounds		61.7	%		82.3	%
Health Supplements (Powder Drinks)		71.2	%		81.8	%
Bioactive Food Ingredients		(5.6	%)		(14.2	%)

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

	September 30
	2021		2020
ASSETS
CURRENT ASSETS
Cash	$	1,903,867	$	53,106
Short-term investments		1,703,314		-
Accounts receivable, net		6,152,807		5,771,008
Inventories, net		1,596,492		1,016,442
Advance to suppliers, net		4,094,312		3,491,145
Deferred initial public offering costs		-		510,079
Acquisition deposit		1,000,000		-
Prepaid expenses and other current assets		98,960		7,434
TOTAL CURRENT ASSETS		16,549,752		10,840,214

Property, plant and equipment, net		19,228,642		14,171,963
Intangible assets, net		411,056		140,993
Right-of-use lease assets, net		201,007		-
Deferred tax assets, net		22,342		49,059
TOTAL ASSETS	$	36,412,799	$	25,202,229

LIABILITIES AND EQUITY

CURRENT LIABILITIES
Short-term loans	$	41,381	$	1,289,081
Current portion of long-term loans		448,005		1,227,346
Third party loans		-		690,327
Accounts payable		380,385		1,288,629
Due to related parties		245,104		2,322,990
Taxes payable		5,052,018		4,402,625
Deferred revenue		1,096,101		385,978
Accrued expenses and other current liabilities		41,711		56,604
Finance lease liabilities, current		161,286		33,389
Operating lease liability, current		62,871		-
TOTAL CURRENT LIABILITIES	$	7,528,862	$	11,696,969
Long-term loans		2,173,532		2,482,251
Finance lease liabilities, noncurrent		28,953		-
Operating lease liability, noncurrent		146,703		-
TOTAL LIABILITIES		9,878,050		14,179,220

COMMITMENTS AND CONTINGENCIES
EQUITY
Ordinary shares, $0.0001 par value, 500,000,000 shares authorized, 8,330,000 and 5,800,000 shares issued and outstanding as of September 30, 2021 and 2020, respectively	$	833	$	580
Additional paid in capital		15,540,433		5,251,205
Statutory reserve		1,050,721		579,922
Retained earnings		9,192,676		5,072,672
Accumulated other comprehensive income (loss)		222,221		(388,102	)
TOTAL BON NATURAL LIFE LIMITED SHAREHOLDERS’ EQUITY		26,006,884		10,516,277
Non-controlling interest		527,865		506,732
Total equity		26,534,749		11,023,009
TOTAL LIABILITIES AND EQUITY	$	36,412,799	$	25,202,229

	For the Years Ended September 30,
	2021			2020			2019
REVENUE	$	25,494,564		$	18,219,959		$	16,396,018
COST OF REVENUE		(18,382,637	)		(13,017,646	)		(11,113,922	)
GROSS PROFIT		7,111,927			5,202,313			5,282,096

OPERATING EXPENSES
Selling expenses		(138,530	)		(161,719	)		(273,841	)
General and administrative expenses		(1,323,726	)		(1,367,070	)		(1,310,215	)

Research and development expenses		(249,050	)		(205,359	)		(522,867	)
Total operating expenses		(1,711,306	)		(1,734,148	)		(2,106,923	)

INCOME FROM OPERATIONS		5,400,621			3,468,165			3,175,173

OTHER INCOME (EXPENSES)
Interest income		3,207			714			2,271
Interest expense		(417,266	)		(329,102	)		(333,190	)
Unrealized foreign transaction exchange gain (loss)		(45,124	)		(248	)		5,281
Gain on disposal of fixed assets		-			20,150			-
Government subsidies		449,972			362,187			140,295
Income from short-term investments		565			-			-
Other income		38,409			132,713			-
Total other income (expenses), net		29,763			186,414			(185,343	)

INCOME BEFORE INCOME TAX PROVISION		5,430,384			3,654,579			2,989,830

INCOME TAX PROVISION		(820,931	)		(556,262	)		(427,194	)

NET INCOME		4,609,453			3,098,317			2,562,636
Less: net income (loss) attributable to non-controlling interest		18,650			71,644			(11,167	)
NET INCOME ATTRIBUTABLE TO BON NATURAL LIFE LIMITED	$	4,590,803		$	3,026,673		$	2,573,803

OTHER COMPREHENSIVE INCOME (LOSS)
Total foreign currency translation adjustment		612,806			450,234			(281,699	)
TOTAL COMPREHENSIVE INCOME		5,222,259			3,548,551			2,280,937
Less: comprehensive income (loss) attributable to non-controlling interest		21,133			81,737			(10,969	)
COMPREHENSIVE INCOME ATTRIBUTABLE TO BON NATURAL LIFE LIMITED	$	5,201,126		$	3,466,814		$	2,291,906

EARNINGS PER SHARE
Basic	$	0.69		$	0.58		$	0.50
Diluted	$	0.68		$	0.58		$	0.50

WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING
Basic		6,615,833			5,210,649			5,166,667
Diluted		6,706,235			5,210,649			5,166,667

	30-Sep
	2021		2020
Net income	$	4,609,453	$	3,098,317
Interest expense		417,266		329,102
Income taxes		820,931		556,262
Depreciation and amortization		228,547		230,597
Non-cash item(1)		44,910		-
Adjusted EBITDA	$	6,121,107	$	4,214,278

	-	收入增加39.9%，达到2549万美元
	-	2021财年全年实现净收入460万美元，稀释后每股收益达到0.68美元

■	总收入为2549万美元，比2020年同期的1820万美元增长了39.9%。
■	毛利润从2020年同期的520万美元增加到710万美元，增长了36.7%。
■	管理费用从2020年同期的140万美金降至130万美金，同比下降3.2%，或43,344美元。
■	政府补助列示为其它运营收入，2021和2020财年分别为449,972和362,187美元。
■	净利润从2020年同期的310万美元增加到461万美元，增长了48.8%
■	调整后的息税折旧摊销前利润2021年财年较2020年同比增长了46.5%，由421万美金增至612万美金。
■	稀释后每股收益（”EPS”）为0.68美元，2020年同期为0.58美元
■	与2020年同期相比，2021年财年香料原料和膳食补充剂（固体饮料）大类产品销量增长7.9%和51.7%。生物活性食品原料产品销量2021年财年同比略微下降5.7%。

	收入增加（减少）	毛利润增加（减少）
香料原料	61.7%	82.3%
膳食补充剂（固体饮料）	71.2%	81.8%
生物活性食品原料	(5.6%)	(14.2%)

■	香料原料的销售收入从2020年同期的790万美元增加了61.7%，达到1270万美元。这一增长主要是由于销量和平均售价分别增加了7.9%和39.2%，以及汇率带来的7.1%的增长。
■	香料原料的毛利润从2020年同期的160万美元增加82.3%至295万美元。增长的原因与上述相同。

■	膳食补充剂（固体饮料）产品的销售收入从2020年同期的389万美元增加到670万美元，增长了71.2%。这一增长是由于销售量和平均售价分别增长51.7%和4.9%，以及汇率带来7.1%的增长。
■	膳食补充剂（固体饮料）的毛利润从2020年同期的113万美元增加到210万美元，增长了81.8%。增长的原因与上述相同。

■	生物活性食品原料的销售收入从2020年同期的645万美元减少5.6%至610万美元。减少的主要原因是销售量减少了5.7%以及平均售价减少了7.0%。在2021年，新冠疫情在中国的传播得到控制，我们生物活性食品原料产品-水苏糖的客户订单因此减少，同时并被汇率带来的7.1%的增长所抵消。
■	生物活性食品原料的毛利润从2020年同期的245万美元减少14.2%至210万美元。减少的原因与上述相同。

●	2021年11月11日，公司宣布其取消可变利益实体（”VIE”）架构，成为其在中国经营实体的唯一股东。
●	2022年1月12日，公司宣布收到了重庆福兜兜科技公司的首个以水苏糖和苹果提取物为基础的个人护理产品-羽淳的第一批采购订单，以打入消费者市场。

Reconciliation of Adjusted EBITDA to Net Income
	30-Sep
	2021		2020
Net income	$	4,609,453	$	3,098,317
Interest expense		417,266		329,102
Income taxes		820,931		556,262
Depreciation and amortization		228,547		230,597
Non-cash item(1)		44,910		-
Adjusted EBITDA	$	6,121,107	$	4,214,278

	For the Years Ended September 30,
	2021			2020			2019
Cash flows from operating activities
Net income	$	4,609,453		$	3,098,317		$	2,562,636
Adjustments to reconcile net income to cash provided by operating activities
Allowance for doubtful accounts		2,948			22,137			34,328
Depreciation and amortization		228,547			230,597			226,633
Inventory reserve (recovery)		(312,532	)		29,539			-
Deferred income tax		29,109			(7,751	)		(5,149	)
Amortization of operating lease right-of-use assets		58,147			-
Amortization of stock options		44,910			-			-
Unrealized foreign currency exchange loss (gain)		45,124			248			(5,281	)
Gain on disposal of property and equipment		-			(20,150	)		-
Changes in operating assets and liabilities:
Accounts receivable		(89,543	)		(284,546	)		(2,912,222	)
Inventories		(209,011	)		1,636,321			6,681,972
Advance to suppliers, net		(399,262	)		(3,021,739	)		168,868
Prepaid expenses and other current assets		2,642			72,116			173,609
Accounts payable		(969,414	)		(1,982,205	)		(78,356	)
Operating lease liabilities		(49,648	)		-			-
Taxes payable		410,716			2,662,542			1,538,662
Deferred revenue		684,030			161,045			(1,223,824	)
Accrued expenses and other current liabilities		(33,092	)		46,605			(57,053	)
Net cash provided by operating activities		4,053,124			2,643,076			7,104,823

Cash flows from investing activities
Purchase of short-term investments		(2,159,920	)		-			-
Proceeds upon redemption of short-term investments		470,082			-			-
Purchase of property and equipment		(51,878	)		(31,885	)		(213,634	)
Capital expenditures on construction-in-progress		(4,432,941	)		(4,301,103	)		(6,861,257	)
Purchase of intangible assets		(269,088	)		-			-
Refund (payment) of acquisition deposit		(1,000,000	)		1,329,945			(1,355,067	)
Net cash used in investing activities		(7,443,745	)		(3,003,043	)		(8,429,958	)

Cash flows from financing activities
Net proceeds from issuance of Ordinary Shares in initial public offerings		11,271,480			-			-
Proceeds from short-term loans		1,257,225			2,033,570			4,008,293
Proceeds from long-term loans		1,245,871			319,342			-
Repayment of short-term loans		(2,563,433	)		(2,872,778	)		(4,514,482	)
Repayment of long-term loans		(2,522,101	)		-			-