Company: MVNC
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001683168-25-008388
Chunk: 56

Company: Marvion Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 56
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FOR THE NINE MONTHS ENDED SEPTEMBER 30, 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 nine months ended September 30,
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 
    100 ordinary shares for HK$100 
    100%

    United Warehouse Management Limited (“UWML”) 
    Hong Kong 
    Provision of warehousing and support activities for transportation