Company Summary: Marvion Inc.

Nature of Business

• Type: Nevada holding company with operating subsidiaries in Hong Kong and Singapore.
• Core Activities:
  • Conducts logistics, warehousing, and delivery services.
  • Provides business advisory and financial consulting services.
  • Engaged in building and operating solar photovoltaic systems on warehouse rooftops for long-term power sales.

Recent Acquisition

• Acquisition: UWMC (United Warehouse Management Corp., British Virgin Islands) in August 2024 through a share exchange agreement.
• Effective Date of Acquisition: September 12, 2024.
• Transaction:
  • Transferred 4,000 shares of UWMC for 148,148,150 shares of the Company.
  • Shareholders of UWMC received shares of the Company; UWMC became a wholly owned subsidiary.
• Earnout:
  • $5.5 million payable upon UWMC achieving certain net income milestones over nine periods ending December 31, 2028.
  • As of December 31, 2024, $1,000,000 recorded as payable.

Business Operations and Segments

• Primary Business:

  • Logistics and warehousing services in Hong Kong.
  • Operations conducted through subsidiaries:
    • KSK Logistics Limited (KSK): Last mile delivery services, mainly serving furniture and appliance industries, 9 employees, 6 trucks.
    • UWML (United Warehouse Management Limited): Warehousing and distribution, including cold storage, located in Yuen Long, Hong Kong.
    • PEL (Propose Enterprise Limited): Business advisory services, 3 employees.

• Logistics Services:

  • Last mile delivery for commercial clients with stable customer base, including major clients like Furniture Station, Asis-Express Logistics, FedEx.
  • Uses automated tracking systems (barcodes, module for pricing based on weight/distance).

• Warehousing & Distribution:

  • Facilities include 24,000 sq. ft. of cold storage and 38,600 sq. ft. of warehousing on land leased for 6 years (with options).
  • Construction of an additional 18,000 sq. ft. warehouse underway, expected to complete in Q2 2025.
  • Provides inventory management, order fulfillment, kitting, transloading, and support for e-commerce logistics.

• Business Advisory (PEL):

  • Provides strategic consulting, focusing on long-term business development opportunities, particularly post-pandemic shifts to e-commerce.

Market and Clients

• Major Customers (2024):
  • Pro King International Warehouse Limited: 35.7% of revenue, $551,200.
  • Furniture Station Limited: 29.6% of revenue, $457,112.
• Major Customers (2023):
  • Easy Funding Limited: 26.2%, $173,034.
  • Pro King International Warehouse Limited: 20.3%, $134,127.
  • Time Credit Limited: 18.7%, $122,975.
  • Furniture Station Limited: 17.9%, $118,206.

Financial Performance (2024 vs 2023)

• 2024 Revenue: $1,544,108 (more than double 2023)
  • Growth driven by new logistics and warehousing business.
• 2024 Net Loss: $733,663 (compared to net income of $9,344 in 2023).
• 2024 Operating Cash Balance: $322,426 (up from $120,319 in 2023).
• Employees: 7 full-time and 6 part-time in Hong Kong.
• Business Outlook:
  • Focused on expanding logistics client base and warehouse capacities.
  • Constructing new warehouses.
  • Long-term stable revenue streams from solar power systems.

Additional Details

• Revenue Composition:
  • Logistics segment: ~$1.34 million (2024).
  • Financial consulting segment: ~$209,000 (2024).
• Assets (2024): $4,035,441.
• Liabilities (2024): $10,076,512.
• Shareholders' Equity (2024): Approximately -$6 million, indicating loss carryover.
• Employees in Hong Kong: 13 full-time (Operational Management, Business Development, Executive Officers).
• Revenue and Income:
  • In 2024, revenue increased significantly from prior year.
  • The company experienced net losses likely due to expansion costs, professional fees, and operational adjustments following recent acquisition.

Note: This summary strictly reflects the provided document information, including specific financial figures, subsidiaries, services, customers, and operational details.