Company: EZOO
Filing Date: 2025-05-15
Form Type: 10-K
Source: 0001641172-25-010460
Chunk: 509

Company: Ezagoo Ltd
Filing Date: 2025-05-15
Form: 10-K
Item: Item 1
Chunk 509
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Application effective from April 2023.

For
the year ended December 31, 2023, the Company’s revenue mainly from providing e-commerce trading of goods and products on ZCZX
WeChat Application that is subscribed from Weimob (微盟集团, HK02013) (“trading income”), and providing
e-commerce value-added service in LSM WeChat Application which is also subscribed from Weimob (微盟集团, HK02013)
(“commission income”, that the Company only generated income till March 2023 now, as the Customer is updating they’re
products line since April 2023 and they plan to launch their new products during January 2024).

Results
of Operations

For
the year ended December 31, 2024 compared with the year ended December 31, 2023

Revenue

    For
    the year ended December 31, 

    2024  
    2023 

    (Audited)  
    (Audited) 
  
    REVENUES 
    $   

    Trading
    income of e-commerce business 
     119,068  
     
    119,302 
  
    Commission
    income 

    -Commission
    income of e-commerce business (including of $0 and $0 from related party for the years ended December 31, 2024 and 2023, respectively) 
     6,127  
     
    47,094 

    $125,195  
    $
    166,396 

The
Company generated revenue of $125,195 for the
year ended December 31, 2024 as compared to revenue of $166,396
for the year ended December 31, 2023. Related party revenue was $0
in 2024, whereas 2023 had $0
related party revenue. Such decrease was mainly reflected in the
LSM platform ceased operations and the platform commission income decrease . We’re
planned to expand our brand to attract more potential users and customers, however, due to
the high-level market competitive (Tiktok, RED etc.) and the unsatisfactory operating date,
the Company decided to shut down the Xindian Application effective from April 2023. And
we’ll focus on the operation of the ZCZX WeChat applications since then.

Costs
and Expenses

Our
cost structure has two