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AGMH AGM

Participants
Wenjie Tang Co-CEO
Chenjun Li Chairman and Co-CEO
Steven Sim CFO
Call transcript
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Operator

Good day, ladies and gentlemen. Thank you for standing by and welcome to the AGM Group Holdings, Inc.

Third Quarter 2021 Earnings Conference Call. Currently all participants are in listen-only mode. Later we will conduct a question-and-answer session and instructions will follow at the time.

are call. we reminder, a recording today's As

If this time. any objections disconnect at you may you have

Now the Ms. Investor Relations I'll Gao Director Tracy turn of call over AGM Group. Gao proceed. Ms. please to [ph],

Unidentified Company Representative

operator, XXXX conference quarter you, Group earnings and to call. Welcome Thank AGM everyone. third hello,

from Joining us results Chief company's available Group's our will of release Financial We released Tang Wenjie today. replay Co-CEO; the The Li, is the Chenjun today. website. in Steven services. and chairman Sim, Mr. earlier this press be company's also on Co-CEO; a AGM A Mr. newswire and Mr. Officer. hours few call available

Mr. then First on and Mr. briefing Sim be will company's Li and Tang review will results. highlights, the company's key the Mr. financial

please statements that contain Reform provisions note Safe Harbor Act will discussion made the the continue, U.S. Securities forward-looking of today's of Before Private Litigation under we XXXX.

statements Forward-looking and uncertainties. inherent involve risk

may expressed and as law. regarding different company's SEC. note the unless materially obligation during the from Go Mr. call Also, stated, Co-CEO, Wenjie not be under statement our that The Mr. With mentioned required such included company is Tang. uncertainties are and expectations the filings Tang. the those assume any company's ahead is all in actual with As to me please figures US any call to now turn forward-looking public otherwise the information conference Further other results dollars. going except today. let update applicable that, over to risks

Wenjie Tang

share launch in of since progress I am announcements quarter our fronts Thanks with joining to third today. earnings morning, the new XXXX conference everyone. good and excited remarkable all call August. business we've you the operator in for you, Thank made very our

the of interest of mining with thanks to XX,XXX is our and generated garnered chips, oriented machine-KOI and MINER $X.XX ASIC crypto software We've which in top are period, short positive development currency the off to start production strategies blockchain and ASIC become a order our company Notably, has and and for financially, service. industry revenue third mining in our its mission great transforming CXX widespread edge the a crypto attention and exceeded mining were unwavering of an equipment, business advanced Fintech quarter. over We machines, focuses the is technology very evidence cutting very the performance on that purchase metrics. crypto integrated Our already outcome. million upgrading our technologies a secured yielding to that efforts first expectation

approximately total the X.X% total out revenues of our of for for TH be future deliveries will Specifically, machines, be with third revenues reflected fulfilled. second in orders, orders only to The a recognizing XX,XXX current quarter. XXX per the remaining computing we're power

trend our business demand favorable about sector. growth our that mining development as the the hard We to our of promote we me also machines, which makes spur for market potential Meanwhile, current worked in cryptocurrency to robust legacy are confident mining continue will planned. very Fintech optimistic the

websites educational a fourth with of an broker with quarter XXXX. enter our by licensed Regarding for and we broker trading that service, of into end will we our this partnership the Australian agreement maintain social expectation definitive

subsidiaries in In established as earlier that we Kong. have year said addition, we and this wholly-owned Singapore Hong

to a well and Asia in of Chairman for contributor turn team software and call to key new that, to strategies, development, these us blockchain a Li global sustainable actively supplier more service consulting solid as a over I'll this are well-positioned area. we provide in of and while We details team, technology burgeoning our Fintech the as regions the shareholders, customer are a to a infrastructure needs for on and and leveraging Chenjun advantages By for strategic address strong to With blockchain expand some candidates looking initiatives. preparation and for value the our strive in generate ecosystem. Co-CEO, become Mr. we

Chenjun Li

with Thanks, in Wenjie. joining mining Good Within morning, our everyone. response delighted did substantial I'm The already industry. world. recognized the leading strong our cryptocurrency we very ever industry after In secured in we and from us just demand, products but orders not well-known quality growing also is the the cryptocurrency new build gained orders of we initiatives, further the market new positive orders you third signify our mining thank And partnerships. equipment. our in for establish that three the the today. position in quarter, months we companies and only strategic strategic see

team targets our sales a engage we growth to Now chip very a to supercomputing announced Highsharp's parties the rapidly milestone have joint growth two meeting solid Subject will in hardware. strategic let partnership, to the was The venture success. semiconductor where September, and up Highsharp plan key In mentioned a upcoming Technology hold far. partnered the will me top summarize for Electronic for growing expedite significant foundation both priority with ASIC technology solutions to venture above Pursuant certain in we Combined partnership members, the R&D development. we Highsharp market. so latest while for cryptocurrency will us, provide key company advanced to set joint design claims a laying future of the will we us stake. is XX% service the with partnerships and also deliver

any The capabilities now. market in and must few the design adequate machine specifically chips is share therefore to in secure must our not like demands the order color to in manufacturer order that supply ASIC demonstrate semiconductor for manufacturer his It key as shortage. semiconductor supplies. of one mining production true some of a to mining the the ability is player market. against itself from I'd global of prove wafers chain right backdrop And Next, meeting fabs

deploy our access of wafer proven purchasers ability and and chips for machines in top build new to we the tap TSMC. into in secure market, to For and example, as the Samsung, development to SMIC with partnership and relatively AGM, prepayments designs This future resources. research can and through player and capabilities first believe sell in the orders production will semiconductor place. to ramping is to large the capital suppliers sufficient this mining supply Highsharp orders, being up, wafer not except Despite critical mid-XXXX. their previous will fab Meanwhile, the the with anyone of these from a crunch ease

We're [ph] due will for We which not Now, believe important our both to And only production into to base, operation competitiveness key up strategically a manufacturing closer in United bring the chain, but the dive or region we will move establish opportunities relatively to into supply us to be States America business. North the mining challenges. and let environment me to decided customers. stable seek U.S. Canada, Bitcoin is their global simply also U.S. in appropriate the our that overcome setting in logistic our

We broader Canada able be group will of customers partners region. client in to based. end well serve are Most reach our supply a and our the as as or U.S. today and customers

to So base supply mainly will production this manufacturing from planned them.

and end them of logistical to and customers enables timetables. resellers this production more as it as delivery the over control issues, have supportive action, as well very are Our

will concrete progress the partners with discussion have the in this potential we actively currently in initiative. are and U.S. more in with communicate market We we once

mostly towards machines. have we feeding these of received, number already fourth geared the will large a quarter of fully Given deliveries orders be mining

term, Looking become leading to medium high able up chain book With gradually term our we the ASIC establish long and chips. with joint and order get performance In short will and to this produce ahead, the and are to and will supply confident will with design continue our capabilities, to we venture mining ourselves set build capabilities. with sustainable we work Highsharp and machines. efforts our clients relationship the be company we ongoing up produce distinguish technical enhanced market

Steven turn review the call who will CFO, to results. financial our will Now, over Mr. our on comment and I Sim,

Steven Sim

ended three of XX, quarter to Thank stated. refer months and the comparisons XXXX. summarize September everyone for ended my otherwise key you, quarter on for the results, the the All I'll financial some XX, unless the are results as on being third XXXX September quarter Chenjun, on third third I call. comments to prior of year the XXXX. quarterly In thanks will XXXX

in equipment computing manufacturing mining reflects transition the our quarter engagement sales of and and of third $X.XX machine We design crypto and solid and the profitability generated cryptocurrency success chip spaced. million of Our into hardware. due performance mining the to mainly ASIC revenue,

to TH global Our a announced power nil in of to the rose blockchain strategy total period to key compared in participant initiate same the and XXXX. company a to become contributor August new second in per growth After the ecosystem. computing XX,XXX

gained a our amount the the in still company's But order business. we already upgrading number of mining We further are have of process equipment. for considerable

reflected future as be in but our of the $X.XX of the when million to in $XX,XXX quarters we the equipment period revenues taken most aforementioned to Cost As increase of the prior deliver in of the revenue, third as the in into same profit clients. orders the $X.XX primarily account to revenues. compared year, was rose XXXX. substantial Gross from $XX,XXX in million because will

our an AGMH we Total should embrace which in of we XX.X% designing business. higher should fully the joint XXXX. In of year. be building level margin previous at selling, quarter expenses Owned and XX.X% margin set gross expenses to venture joint increased with Our mainly $X.XX to Enterprise. was particular, the of Highsharp Once third in and to mainly sorry, was up, due administrative is the operating capable means by resulting Wholly XXXX due venture a from the from general XX.X% a up -- Foreign quarter $X.XX third new million, expenses million expenses of establishment result

to set As is XX.X% net the venture R&D XXXX. $XX,XXX, Fintech cryptocurrency $X.X from decrease income And million, Net up. mining $X.XX to period September was of and of invested investment XXXX. from the million, joint we to loss is In once in of by period expect of $X.XX research we worth was It in revenue, will a noting million. in of development in the the a of we same do a machine $XX,XXX expenses that in operation were XXXX. income R&D, period only from $X.XX had so the loss compared compared XXXX. same XX, the Fueled operations not million same increase until cut

we million, capital had XX, $X.XX XXXX, cash and million, and As million, million, working and XX, $X.XX XXXX, cash of equivalents $X.X of of including and June respectively. September $X.X

our turned have meet enables position for now to midterm. to needs we healthy us profit, our financial to net working capital As near the

thoughts let long our share Next, perspective term business. me regarding and some

mid machines imperatives orders. purchase to more long our up This ramping into QX, the mining financial to Going and of the will and XXXX shareholders substantial form the and maximizing our will XXXX, be number company. basis securing value term, capacity delivering stability and ordered our of growth production in the

we capacity on and we the concludes growth opportunities as drive prepared improving our mining to remarks. edge manufacturing R&D, sustain the our into manufacturing and our equipment, as mining capitalize initiative in crypto in future other investing to seek further business, cable core development As sector. our trajectory, will vast cryptocurrency and technologies well keep This cutting

the Let's now Operator, move ahead. call go please questions. for

Operator

we now and Ladies question the first Our ask your gentlemen, Management [ph]. [indiscernible] you. of Thank Instructions] comes the begin Long line [Operator question. will Run from Asset of question-and-answer Please session.

Unidentified Analyst

[Non-English]

Wenjie Tang

[Non-English].

Operator

Instructions]. Thank you. [Operator

Delvi ask Your the of Time question [ph] next Funds. Chen Please from Right from line question your comes

Unidentified Analyst

[Non-English]

Wenjie Tang

[Non-English]

Unidentified Analyst

[Non-English]

Wenjie Tang

[Non-English]

Unidentified Analyst

[Non-English]

Wenjie Tang

[Non-English]

Operator

remarks. Mr. Instructions]. Wenjie you. to the in call questions queue Seeing Tang me turn the [Operator closing let you. right. All no Thank for back more Thank

Wenjie Tang

Thank you. from forward support. and to Thank call I all again to reporting We on look offices. you your and for your quarter you appreciate our interest participating today's next for

Operator

concludes call. Thank This you the again. all

disconnect. may You now