MicroAlgo (MLGO) has released an update.

MicroAlgo Inc.’s unaudited interim condensed consolidated balance sheets reveal a significant increase in total assets from RMB 410,520,259 (approximately USD 107,591,938) on December 31, 2023, to RMB 766,786,239 by June 30, 2024. The company’s total liabilities also rose from RMB 85,315,757 to RMB 215,613,714 in the same period, reflecting new convertible notes payable. Shareholders’ equity increased, indicating a stronger financial position for MicroAlgo Inc.

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