Company: MKDWW
Filing Date: 2025-01-23
Form Type: F-1
Source: 0001493152-25-003296
Chunk: 118

Company: MKDWELL Tech Inc.
Filing Date: 2025-01-23
Form: F-1
Chunk 118
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ash items, (iii) a net amount of US$0.18 million increase in inventories and accounts payables due to the expansion of our sales scale of in the first half of 2023 and we increase our stock level.

For the six months ended June 30, 2024, our net cash used in operating activities was US$1.53 million, which was primarily attributable to (i) our net loss of US$1.73 million, (ii) an adjustment of added non-cash items of a net amount of US$0.32 million, inclusive of depreciation and amortization and other non-cash items, (iii) a decrease of US$0.15 million in accrued expenses and other current liabilities due to the paying remaining amount of payroll and welfare payable, VAT payable and other miscellaneous items, (iv) a decrease of US$0.10 million in accounts payables due to the combined effect of paying remaining amount of accounts payable on time and a reduced amount of purchasing raw materials, and partially offset by (v) a decrease of US$0.16 million in accounts receivables due to the measures of strengthening accounts receivables collection management and enhanced debt collection efforts.

Investing activities

For the six months ended June 30, 2023, our net cash used in investing activities was US$0.05 million, which was primarily attributable to the purchase of equipment for production and office purpose.

For the six months ended June 30, 2024, our net cash used in investing activities was US$0.30 million, which was primarily attributable to the amount of US$0.30 lent to Cetus Sponsor LLC for the payment of extension application fee for business combination between the Company and Cetus Capital.

Financing activities

For the six months ended June 30, 2023, our net cash provided by financing activities was US$0.50 million, consisting primarily of net proceeds of US$0.55 million from bank borrowings.

For the six months ended June 30, 2024, our net cash provided by financing activities was US$1.15 million, consisting primarily of net proceeds of financing sale and leaseback of US$0.69 million and net proceeds of US$0.47 million from related parties.

Capital expenditures

Our capital expenditures are primarily incurred for the purchase of property, equipment and software. Our capital expenditures were US$0.05 million and US$0.002 million for the six months ended June 30