Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 113

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 113
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 to hire new employees quickly enough to meet our needs. The risks associated with a rapidly growing workforce will be particularly acute to the extent we expand into new geographic regions. If we fail to effectively manage our hiring needs or successfully integrate new hires, our efficiency, ability to meet forecasts and employee morale, productivity and retention could suffer, which could have an adverse effect on our business, financial condition, results of operations and prospects.

We are also required to manage numerous relationships with vendors and other third parties. Further growth of our operations, vendor base, fulfillment centers, information technology systems or internal controls and procedures may not be adequate to support our operations. If we are unable to manage the growth of our organization effectively, our business, financial condition, results of operations and prospects may be adversely affected.

Material Risks Related to Our Operations in the People’s Republic of China.

Although the Hong Kong Food Products segment previously constituted a significant portion of our revenue, it represented only 8% of our revenue in fiscal year 2024. This decrease reflects our strategic pivot to international markets. The Company has scaled down operations in Hong Kong but has not abandoned the market and continues to evaluate future opportunities in the region. While this strategic decision aligns with our long-term growth objectives, it introduces several risks associated with our operations in Hong Kong and the broader People's Republic of China (PRC).

These risks include, but are not limited to:

•

Regulatory Changes and Governmental Control: The PRC government has significant authority to intervene in the operations of businesses, and any changes in laws, regulations, or enforcement policies could adversely impact our remaining operations in Hong Kong and any future opportunities in the region.

•

Geopolitical and Economic Instability: Ongoing tensions between the PRC and other countries, particularly the U.S., may affect trade policies, tariffs, and overall market conditions, which could disrupt our supply chain or future business in Hong Kong.

•

Currency and Capital Flow Restrictions: The PRC government imposes controls on the movement of funds into and out of the country, which could limit our ability to repatriate funds or invest in remaining operations.

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Declining Hong Kong Market Presence: The reduction in our Hong Kong operations could result in a loss of market share or customer loyalty, and any residual operations in the region remain exposed to local competition and regulatory challenges.

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Hong Kong’s Evolving Legal Environment: The integration of certain aspects of Hong Kong’s governance with the PRC’s legal framework has created uncertainties regarding autonomy, regulatory consistency, and legal protections.

While our