MingZhu Logistics Holdings Ltd, a Cayman Islands holding company with its operations conducted through subsidiaries in the PRC, reported its financial results for the fiscal year ending December 31, 2024. The company, engaged in diverse business activities including trucking services and car owner services, recorded a significant variation in its financial performance compared to the previous year. The company's revenue, generated from its trucking service business, liquor distribution, and car owner services, showed a noteworthy change. The revenue figures, reported for the year, reflect the actual results and exclude the impact of discontinued operations. In terms of profitability, MingZhu Logistics Holdings Ltd experienced a variation in net income/loss for the fiscal year 2024 compared to 2023. These figures are derived from the company's consolidated financial statements prepared in accordance with U.S. GAAP. The discussion of the results highlights key financial data, including the performance of the company's subsidiaries and variable interest entities (VIEs). The company's investments in its subsidiaries are recorded under the equity method of accounting, impacting the overall financial outcomes for the period. This report provides an overview of MingZhu Logistics Holdings Ltd's financial standing as of December 31, 2024, offering insights into its operational and financial review and prospects.
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