Company: MVNC
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001683168-25-003814
Chunk: 6

Company: Marvion Inc.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 1
Chunk 6
---
 Form 10-Q should be read in conjunction with Management’s Discussion and Analysis, and the financial
statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed
with the SEC on April 25, 2025.

2.          ORGANIZATION
AND BUSINESS BACKGROUND

Marvion Inc. was incorporated
in the State of Nevada on March 6, 2008. The Company and its subsidiaries are hereinafter referred to as (the “Company”).

Currently, the Company is principally
engaged in the logistic services, warehousing service and financial consulting services in Hong Kong.

Description of subsidiaries

    Schedule of description of subsidiaries

    Name

    Place of incorporation
    and kind of
    legal entity

    Principal activities
    and place of operation

    Particulars of registered/paid
    up share capital

    Effective interest
    held

    United Warehouse Management Corp.  (“UWMC”)
     
    British Virgin Islands
     
    Investment holding
     
    50,000 ordinary shares at par value of US$1 each
     
    100%

    KSK Logistics Limited (“KSK”)
     
    Hong Kong
     
    Provision of logistic services
     
    1 ordinary share for HK$1
     
    100%

    Propose Enterprise Limited (“PEL”)
     
    Hong Kong
     
    Provision of financing services
     
    100 ordinary shares for HK$100
     
    100%

    United Warehouse Management Limited (“UWML”)
     
    Hong Kong
     
    Provision of warehousing and support activities for transportation
     
    10,000 ordinary shares for HK$10,000
     
    100%

The Company and its subsidiaries are hereinafter referred
to as (the “Company”).

     14 

3.          SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES

The accompanying unaudited condensed
consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States
of America (“U.S. GAAP”) and applicable rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”).
The reporting currency of the Company is United States Dollar (“US$”) and the accompanying unaudited condensed consolidated
financial statements