Baosheng Media Group Holdings Limited reported a steep first-half revenue decline and a larger net loss, while its filing said the results raised substantial doubt about the company’s ability to continue operating.
The unaudited financial statements, filed with the U.S. Securities and Exchange Commission on Oct. 16, cover the six months ended June 30. Revenue was $62,701, down 77.8% from $283,039 in the year-earlier period.
The net loss widened to $19.22 million from $4.18 million. Basic and diluted loss per share was $3.90, compared with $2.72 in the first half of 2025.
Baosheng attributed higher selling and marketing expenses chiefly to a June 18 stock award. The company recognized $14.68 million in share-based compensation tied to issuing 5.3 million ordinary shares to consultants for marketing services.
Operating cash outflow totaled $2.90 million for the period. The filing said the loss and cash outflow raised substantial doubt about Baosheng’s ability to continue as a going concern, an assessment of whether a business can keep operating.
Management assessed the company’s working capital as sufficient to meet its obligations for 12 months from the report’s issuance. The filing presented that assessment alongside the going-concern concern.
