Company: ZDAN
Filing Date: 2025-06-30
Form Type: F-1
Source: 0001683168-25-004840
Chunk: 12

Company: Zerolimit Technology Holding Co. Ltd.
Filing Date: 2025-06-30
Form: F-1
Chunk 12
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 and development to upgrade the software
solutions of our subsidiaries and the VIE. In 2022, the VIE and our subsidiaries obtained the national high-tech enterprise certification
in PRC. As of September 30, 2024, the VIE’s research and development team consisted of 23 researchers, programmers, and engineers,
accounting for approximately 55% of the total number of employees.

The VIE has historically derived its 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 in China, respectively. We consider these distributors to be our customers. Through this distribution network channel penetration, sales have extended to cover 9 provinces and 11 municipalities in China as of September 30, 2024.

We capitalized $0.012 million
and $0.59 million of research and development expenditure for the fiscal years ended September 30, 2024 and 2023, respectively. We also
incurred research and development expenses of $0.048 million and $0.124 million for the fiscal years ended September 30, 2024 and 2023,
respectively. Our allocation of resources towards innovation has fostered our growth, as a combined company including the VIE and our
subsidiaries. For the fiscal year ended September 30, 2024 and 2023, total revenue reached approximately $5.91 million and $5.68 million,
respectively, and net income was approximately $2.71 million and $2.52 million, respectively.

Our Technology Advantages

We place significant
emphasis on the innovation and research and development of the underlying infrastructure of the next generation of the internet.
Through continuous investment, we have achieved outstanding results, including obtaining the national high-tech enterprise
certification, jointly issued by the Shenzhen Science and Technology Innovation Committee, Shenzhen Finance Bureau, and the Shenzhen
Tax Service of State Taxation Administration, and the specialized and sophisticated small and medium sized enterprise
(“SME”) recognition, issued by Shenzhen Small and Medium-sized Enterprises Service Bureau, and securing 2 registered
trademarks, 38 registered computer software copyrights, 11 registered patents and 1 license in China as of September 30, 2024.

Based on our software component
tools, the distributed network we construct can achieve functionalities such as distributed storage, peer-to-peer transmission, consensus
mechanisms, and