Jia Nan Technology Q1 performance exceeds expectations, with the number of Bitcoins held exceeding 1,000 for the first time

Jia Nan Technology announced its financial report, showing a first-quarter revenue of $35.1 million, a year-on-year decrease of 36.4%, exceeding market expectations by $5.2 million; with a loss per share of $0.16, better than the market's expected loss per share of $0.36. As of March 31, 2024, the company's cryptocurrency assets mainly include 1,271.7 bitcoins, with a total fair value of $90.2 million. This includes 1,057.4 bitcoins owned by the company and 214.3 bitcoins received as customer deposits. It is worth mentioning that this is the first time the company's bitcoin holdings have exceeded 1,000. As of March 31, 2024, the company had $54.7 million. Jia Nan Technology reiterated its second-quarter performance guidance and provided third-quarter guidance. The company expects second-quarter revenue to be around $70 million, with market expectations at $69.73 million; and third-quarter revenue to be around $70 million, with market expectations at $90.73 million. As of the time of publication, Jia Nan Technology's pre-market trading on Friday rose nearly 6% in US stocks