Company: ZDAN
Filing Date: 2025-07-28
Form Type: F-1/A
Source: 0001683168-25-005450
Chunk: 165

Company: Zerolimit Technology Holding Co. Ltd.
Filing Date: 2025-07-28
Form: F-1/A
Chunk 165
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 multitude of devices, from
servers to personal computers, tablets, and mobile phones (meeting the minimum hardware requirements). These devices can simultaneously
serve as nodes on the distributed network. Deployment is typically achieved by simply running a software installation package on hardware
that meets the specified configuration. Security is ensured through innovative authentication methods, utilizing public and private key
pairs, along with other relevant security measures.

In order to propel the development
of distributed networks and encourage more developers or network platform operators to engage in the utilization of decentralized applications,
we not only offer efficient network infrastructure tools, but also provide complementary software development kits for decentralized applications.
The development tools facilitate the entire process of decentralized application development, including coding, debugging, testing, and
deployment, within an integrated environment.

Our goal is to become a leading
provider of distributed network solutions. We hope to continue to increase our investment in the research and development of distributed
networks and to continuously educate and spread awareness of the solutions we can provide to the issues encountered by both traditional
and current networks. Additionally, we will enhance the commercial value delivered to our end-users through our dealer channel network.
We believe that by leveraging our proprietary technology, research and development capabilities, and accumulating valuable expertise through
investments in relevant technological research, we can maintain a competitive advantage in the industry.

We aim to stay up-to-date
on technical innovations by maintaining a large talent pool and will continue to invest in research and development to upgrade our software
solutions. In 2022, we obtained the national high-tech enterprise certification in China. As of September 30, 2024 and 2023, our research
and development team consisted of 23 and 31 researchers, programmers, and engineers, accounting for approximately 55% and 57% of the total
number of employees, respectively.

We historically derived our
revenue mainly from software product sales through distributors and related post-contract services. As of September 30, 2024 and 2023,
we had 35 and 28 distributors, respectively, in China. We consider these distributors to be our customers. Through our distribution network
channel penetration, sales have extended to cover 9 provinces and 11 municipalities in China as of September 30, 2024 and 2023, respectively.

We capitalized $0.012 million
and $0.59 million of research and development expenditures for the fiscal years ended September 30, 2024 and 2023, respectively. We also
incurred research and