Company: MKDWW
Filing Date: 2025-01-23
Form Type: F-1
Source: 0001493152-25-003296
Chunk: 125

Company: MKDWELL Tech Inc.
Filing Date: 2025-01-23
Form: F-1
Chunk 125
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7 | %  |
| Rental income                             |     |                                  |   357,338 |     |      |   256,642 |     |        | (100,696 | ) |     |   | (28.2 | )% |
| Others                                    |     |                                  |   385,758 |     |      |   131,014 |     |        | (254,744 | ) |     |   | (66.0 | )% |
| Total                                     |     | $                                | 3,153,486 |     | $    | 3,670,722 |     | $      |  517,236 |   |     |   |  16.4 | %  |

Our total revenues increased by US$0.52 million, or 16.4% from US$3.15 million for the year ended December 31, 2022 to US$3.67 million for the year ended December 31, 2023, primarily attributable to the increase of sales of manufactured electronic products and commissioned processing service, partially offset by the decrease of rental income and other income.

Revenues from our sales of manufactured electronic products increased by US$0.80 million, or 51.6%, from US$1.54 million for the year ended December 31, 2022 to US$2.34 million for the year ended December 31, 2023. The increase in products revenues was mainly contributed to the increased sales of intelligent vehicle control system due to the fact that new customers and new orders are mainly concentrated in this type of products.

Revenues from our commissioned processing service increased by US$0.08 million, or 8.7%, from US$0.87 million for the year ended December 31, 2022 to US$0.94 million for the year ended December 31, 2023, which was mainly due to one of our major customers was expanding its business in 2023 and increased the demand of service.

Rental income decreased by US$0.10 million, or 28.2%, from US$0.36 million for the year ended December 31, 2022 to US$0.26 million for the year ended December 31, 2023, which was mainly due to a decrease in leasehold area resulting from the expiration of two lease contracts in 2023.

Revenues from others decreased by US$0.25 million, or