Company: ILAG
Filing Date: 2025-02-25
Form Type: 424B5
Source: 0001493152-25-008217
Chunk: 7

Company: Intelligent Living Application Group Inc.
Filing Date: 2025-02-25
Form: 424B5
Chunk 7
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, no dividends or distributions have been made between the holding company, its subsidiaries or to investors including U.S. investors. The holding company and its subsidiaries do not have any plan to distribute dividend in the foreseeable future. We mainly conduct our marketing and sales, research and development and design activities through our wholly owned subsidiaries in Hong Kong and manufacturing activities through our wholly owned subsidiary in China, Dongguan Xingfa Hardware Products Co., Limited (“Xingfa”). As a result, almost all of our sales revenues are received by our Hong Kong subsidiaries which make payment to Xingfa for the cost of products and reasonable markups. Transfers of funds among our Hong Kong subsidiaries or from our Hong Kong subsidiaries to the holding company are free of restrictions. Remittances of funds from our Hong Kong subsidiaries to Xingfa are subject to review and conversion of Hong Kong dollars (“HK$”) or U.S. dollars (“US$”) to Renminbi Yuan (“RMB”) through Xingfa’s bank in China, which represents the State Administration of Foreign Exchange (“SAFE”) to monitor foreign exchange activities. Under the existing PRC foreign exchange regulations, payments of current account items, such as profit distributions and trade and service-related foreign exchange transactions, can be made in foreign currencies without prior approval from SAFE by complying with certain procedural requirements with the banks. The cash transfer among the holding company and its subsidiaries is typically transferred through payment for intercompany product sales and services or intercompany loans between holding company and subsidiaries. A s of the date of this prospectus, we do not anticipate any difficulties or limitations on our ability to transfer cash between subsidiaries, except for thetransfer from or to Xingfa, which is subject to review and procedures according to the requirements of the SAFE.

As of the date of this prospectus supplement, we do not have cash management policies and procedures in place that dictate how funds are transferred through our organization. Rather, the funds can be transferred in accordance with the applicable laws and regulations.

The Company, we, us, our company, Intelligent Living, ILAG, Registrant or similar terms used in this prospectus supplement refer to Intelligent Living Application Group Inc., a company incorporated under the laws of the Cayman Islands, including its consolidated subsidiaries, unless the context otherwise indicates. We currently conduct our business through Intelligent Living Application Group Limited, a holding company incorporated under the laws of the British Virgin Islands (“ILAG BVI”) and its subsidiaries Kambo Locksets Limited (“Kambo Locksets”), Kambo Hardware Limited (“K