Company: MKDWW
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001641172-25-002607
Chunk: 76

Company: MKDWELL Tech Inc.
Filing Date: 2025-04-03
Form: 20-F
Item: Item 5
Chunk 76
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31, 2022 and 2023 are summarized as below:

                                                 For the years ended December 31,                                              Change                           
                                                 2022                                                 2023                     Amount                           
                                                 US$                                                  US$                      US$                              
  By revenue type                                                                                                                                               
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Sales of manufactured electronic products      $                                     1,543,397      $         2,329,491      $            786,094       50.9  
  Commissioned processing service                                                        866,993                  942,626                    75,633        8.7  
  Rental income                                                                          357,338                  267,591                   (89,747      (25.1  
  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.

  47  

Revenues
from our sales of manufactured electronic products increased by US$0.79 million, or 50.9%, from US$1.54 million for the year ended December
31, 2022 to US$2.33 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$0.09 million, or