Company: KPEA
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002124
Chunk: 420

Company: Kun Peng International Ltd.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 1
Chunk 420
---
 In the future, cash proceeds raised from overseas financing activities may be transferred by the Company
to its subsidiaries via capital contribution or shareholder loans, as the case may be. As of the date of this Annual Report, the Company
has not made any transfers, paid any dividends, or made any distributions to U.S. investors. None of the Company, our subsidiaries, or
our VIE has any plan to distribute earnings or settle amounts owed under the VIE Agreements in the foreseeable future. We intend to retain
all available funds and future earnings, if any, for the operation of our VIE’s business.

See
“Item 1A. Risk Factors - Risks Related to Doing Business in China - Restrictions under PRC law on our subsidiaries’ ability
to make dividend payments and other distributions could materially and adversely affect our ability to grow, make investments or acquisitions
that could benefit our business, pay dividends to you, and otherwise fund and conduct our business” on page 68.

10

Corporate
History and Structure

Kun
Peng International Ltd. (formerly known as CX Network Group, Inc.)

The
Company was incorporated in the State of Florida on September 3, 2010, under the name of “mLight Tech, Inc.” (“MLGT”).
On July 11, 2017, MLGT merged with and into CX Network Group, Inc. (“CXKJ”), a company incorporated in Nevada on July 25,
2005, with CXKJ as the surviving corporation pursuant to an agreement and plan of merger (the “Merger Agreement”) dated July
3, 2017.

Pursuant
to the Merger Agreement, immediately after the effective time of the Merger, the Company’s corporate existence is governed by the
laws of the State of Nevada and the Articles of Incorporation and bylaws of the Company (the “Domicile Change”), its name
was changed to CX Network Group, Inc. (the “Name Change”), and each outstanding share of MLGT’s common stock, par value
$0.0001 per share, was converted into 0.0667 outstanding share of common stock of CXKJ, par value $0.0001 per share, at a one-for-fifteen
reverse split ratio (the “Reverse Stock Split”) which resulted in reclassification of capital from par value to capital in
excess of par value. Immediately prior to the effectiveness of the Reverse Stock Split, we had 217,