Unaudited Condensed Consolidated Statements of Changes in Equity - USD ($)

Common Stock

Additional paid-in capital

Accumulated Deficit

Surplus Reserve

Accumulated other comprehensive income (loss)

Non-controlling interests

Total

Balance at Dec. 31, 2022

$ 2,135

$ 344,400,599

$ (38,800,375)

$ 2,602,667

$ (8,984,925)

$ (1,245,932)

$ 297,974,169

Balance (in Shares) at Dec. 31, 2022

2,134,842

Issuance of common stocks in connection with private placements

$ 1,260

52,148,740

52,150,000

Issuance of common stocks in connection with private placements (in Shares)

1,260,000

Issuance of common stocks pursuant to exercise of convertible promissory notes

$ 124

2,877,091

2,877,215

Issuance of common stocks pursuant to exercise of convertible promissory notes (in Shares)

124,427

Issuance of common stocks pursuant to ATM transaction

$ 14

559,059

559,073

Issuance of common stocks pursuant to ATM transaction (in Shares)

13,786

Issuance of common stock pursuant to stock incentive stock plan

$ 220

5,697,780

5,698,000

Issuance of common stock pursuant to stock incentive stock plan (in Shares)

220,000

Beneficial conversion feature relating to issuance of convertible promissory notes

913,000

Net income (loss)

(2,540,738)

(1,166,557)

(3,707,295)

Foreign currency translation adjustments

(12,025,878)

Balance at Sep. 30, 2023

$ 3,753

406,596,269

(41,341,113)

2,602,667

(21,010,803)

(2,412,489)

344,438,284

Balance (in Shares) at Sep. 30, 2023

3,753,055

Balance at Jun. 30, 2023

$ 3,128

396,346,894

(42,403,327)

2,602,667

(23,166,878)

(2,029,933)

331,352,551

Balance (in Shares) at Jun. 30, 2023

3,128,149

Issuance of common stocks in connection with private placements

$ 560

9,799,440

9,800,000

Issuance of common stocks in connection with private placements (in Shares)

560,000

Issuance of common stocks pursuant to exercise of convertible promissory notes

$ 65

449,935

450,000

Issuance of common stocks pursuant to exercise of convertible promissory notes (in Shares)

64,906

Net income (loss)

1,062,214

(382,556)

679,658

Foreign currency translation adjustments

2,156,075

Balance at Sep. 30, 2023

$ 3,753

406,596,269

(41,341,113)

2,602,667

(21,010,803)

(2,412,489)

344,438,284

Balance (in Shares) at Sep. 30, 2023

3,753,055

Balance at Dec. 31, 2023

$ 19,335

438,980,687

(39,520,164)

2,602,667

(16,144,752)

(2,792,468)

$ 383,145,305

Balance (in Shares) at Dec. 31, 2023

19,335,220

^[1]

Issuance of common stocks in connection with private placements

$ 30,000

36,870,000

$ 36,900,000

Issuance of common stocks in connection with private placements (in Shares)

30,000,000

Issuance of common stocks pursuant to exercise of convertible promissory notes

$ 610

599,390

600,000

Issuance of common stocks pursuant to exercise of convertible promissory notes (in Shares)

610,015

Net income (loss)

8,878,549

(1,125,705)

7,752,844

Foreign currency translation adjustments

5,113,691

Balance at Sep. 30, 2024

$ 49,945

476,450,077

(30,641,615)

2,602,667

(11,031,061)

(3,918,173)

$ 433,511,840

Balance (in Shares) at Sep. 30, 2024

49,945,235

^[1]

Balance at Jun. 30, 2024

$ 49,945

476,450,077

(34,181,077)

2,602,667

(21,460,739)

(3,551,968)

$ 419,908,905

Balance (in Shares) at Jun. 30, 2024

49,945,235

Net income (loss)

3,539,462

(366,205)

3,173,257

Foreign currency translation adjustments

10,429,678

Balance at Sep. 30, 2024

$ 49,945

$ 476,450,077

$ (30,641,615)

$ 2,602,667

$ (11,031,061)

$ (3,918,173)

$ 433,511,840

Balance (in Shares) at Sep. 30, 2024

49,945,235

^[1]

[1]	On October 30, 2023, the Company completed a 50:1 reverse stock split of our common stock issued and outstanding. All shares and associated amounts have been retroactively restated to reflect the reverse stock split. See Note 13 - Reverse stock split of common stock.

BAIYU Holdings, Inc. 10-Q