Company: KPEA
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002124
Chunk: 838

Company: Kun Peng International Ltd.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 1B
Chunk 838
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 Customer services 
     -  
     40 
  
    Travel, transportation and gasoline 
     42,156  
     72,736 
  
    Meals and entertainment 
     6,031  
     357,292 
  
    Depreciation and amortization 
     28,733  
     3,106 
  
    Advertising 
     14,746  
     63,569 
  
    Total 
    $1,655,024  
    $3,316,631 

84

The
significant decrease in selling expenses for the year ended September 30, 2024 was primarily driven by a decrease in service agent fees
of $1,259,047 as marketing and promotional service fees to our service agents declined significantly. Additionally, our meals
and entertainment expense decreased by $351,261 as we launched fewer small scale promotional and
marketing activities in the year ended September 30, 2024 in the same period in 2023.

Other
income, net

Other income primarily included bank interest income, government grants,
investment loss from associate and foreign exchange gain or loss. Our other net income for the years ended September 30, 2024 and 2023
was $11,538 and $99,676, respectively. During the year ended September 30, 2024 and 2023, we recognized government grants of $31,925 and
$98,667 respectively. Our company recognized $12,426 investment loss of associate for the years ended September 30, 2024.

Other income, net included the following:

    For the years ended September 30, 

    2024  
    2023 

    Interest expense for finane lease 
    $6,253  
    $- 
  
    Investment loss on associate 
     12,426  
     - 
  
    Exchange loss and others 
     1,708  
     - 
  
    Other expense 
     20,387  

    Government grants 
     31,925  
     98,667 
  
    Exchange gain and others 
     -  
     1,009 
  
    Other income 
     31,925  
     99,676 

    Other income, net 
    $11,538  
    $99,676 

Income
tax expense

For the year ended September 30,