Company: MVNC
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001683168-25-003814
Chunk: 47

Company: Marvion Inc.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 8
Chunk 47
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FOR THE THREE MONTHS ENDED MARCH 31, 2025

1.          BASIS
OF PRESENTATION

These accompanying unaudited
condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United
States of America (“US GAAP”) for interim financial information pursuant to the rules and regulations of the Securities and
Exchange Commission (the “SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP
for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered
necessary to make the financial statements not misleading have been included. Operating results for the period ended March 31, 2025 are
not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2025. The information included
in this Quarterly Report on 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