secwatch.observer — SEC 8-K summary
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Issuer:     ZW Data Action Technologies Inc. (CNET)
CIK:        0001376321
Form:       8-K
Filed at:   2023-04-17T23:59:59+00:00
Accession:  0001171843-23-002338
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ZW Data Action Tech reports FY2022 net loss of $9.79M; revenue down 44.6% to $26.24M
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- Revenue fell to $26.24M from $47.33M, driven by COVID-19 impact on SME clients in China.
- Net loss widened to $9.79M ($1.37 EPS) from $2.75M ($0.42 EPS) in 2021.
- Operating loss was $11.12M; operating margin worsened to (42.4%) from (28.7%).
- Cash and equivalents $4.39M at Dec 31, 2022 vs $7.17M; working capital $6.61M.
- Effectuated 1-for-5 reverse stock split in Jan 2023 to regain Nasdaq $1.00 bid compliance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1376321/000117184323002338/0001171843-23-002338-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1376321/000117184323002338/f8k_041723.htm
  HTML page:      https://secwatch.observer/filing/0001171843-23-002338

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer