Company: ILAG
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001641172-25-006445
Chunk: 189

Company: Intelligent Living Application Group Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 5
Chunk 189
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 The predecessor of Hing Fat commenced our business of selling door locksets in 1981. In 1983, we started processing door locksets to fulfill orders from US customers with imported materials at a small manufacturing workshop in China which became our current manufacturing subsidiary, Xingfa. Since then, our mission is to “produce high quality lockset products at affordable prices.”
 
We sell our products mainly to the US and Canada (“North America”) through one of our Hong Kong registered subsidiaries, Kambo Locksets. Kambo Hardware, another wholly owned subsidiary of the Company targets and distributes locksets and related hardware to countries other than the US and Canada and it mainly serves our customers in Asian countries.
 
In 1993, as the laws and regulations for processing with imported materials entity changed in China, we established our wholly foreign owned entity (WFOE) subsidiary, Dongguan Xingfa Hardware Products Limited (“Xingfa”) located in Shatian County, Dongguan City, Guangdong Province of PRC. Xingfa is equipped with various types of machines such as die casting, furnace, polishing and other machines for metal processing in a 17,560 m2 manufacturing facility. In light of excess production capacity due to current economic conditions, Xingfa subleased one plant building of approximately 4,300 m2 to reduce our operating costs.
 

●   We restructured our corporate organization in 2009 and incorporated Hing Fat Industrial Limited under Hong Kong law (“Hing Fat”), as the holding company of Xingfa to manage the door lockset manufacturing activities of Xingfa and to conduct research and development.
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●   On March 26, 2014, Kambo Locksets Limited was incorporated under Hong Kong law. Kambo Locksets is a trading company focusing on marketing and sales of our products in North America market and became our subsidiary as a result of reorganization.
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●                                 On February 25, 2015, Kambo Hardware Limited was incorporated under                              
    Hong Kong law. Its primary business is to sell our products to markets outside of the North America, mainly in Asian countries.
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●   Bamberg (HK) Limited (“Bamberg”) was incorporated on June 24, 2016 under Hong Kong law. Through Bamberg, we started marketing our products under our own brand “Bamberg” to establish and focus on internet sales channels, such as Amazon.com
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