Company: ILAG
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001641172-25-006445
Chunk: 92

Company: Intelligent Living Application Group Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 3
Chunk 92
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 Crescent, Kwai Chung, New Territories, Hong Kong      Kambo Security Products Limited                               $74,000      December 31, 2024       Head Quarter Office          
  No. 43, Min Tian Main Street, Shatian Town, Dongguan, Guangdong, PRC                                                   Dongguan Shatian Town Hengliu Equity Economic Union          $285,000      February 28, 2026       Production Plant and Office  
  5/F., Tower A, Shun Hang Environment Projection Industrial Park, Shatian Twon, Dongguan, Guangdong, PRC                Dongguan Shun Hang Metal Productions Company Limited          $93,000      September 30, 2026      Production Plant             
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We believe we will be able to obtain adequate
facilities, principally through leasing, to accommodate our future expansion plans.

  ITEM 4A.      UNRESOLVED STAFF COMMENTS  
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Not Applicable

  ITEM 5.      OPERATING AND FINANCIAL REVIEW AND PROSPECTS  
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You should read the following discussion and analysis
of our financial condition and results of operations in conjunction with our CFS and the related notes included
elsewhere in this annual report on Form 20-F. This discussion may contain forward-looking statements based upon current expectations that
involve risks and uncertainties. Our actual results may differ materially from those anticipated in these forward-looking statements as
a result of various factors, including those set forth under “ Item 3. Key Information - D. Risk Factors” or in other parts
of this annual report on Form 20-F.

5A. Operating Results

Overview

Headquartered in Hong Kong, we manufacture and sell
high quality mechanical locksets to customers mainly in the United States (US) and Canada and have continued to diversify and refine our
product offerings in the past 40 years to meet our customers’ needs. We believe our wholly-owned subsidiary Xingfa is one of the
pioneers of mechanical lockset manufacturing in China. Since inception, to cope with our development and increase customer satisfaction
in quality, we keep investing in self-designed automated product lines, new craftsmanship and developing new products including smart
locks. In order to obtain the