Company: KPEA
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002124
Chunk: 124

Company: Kun Peng International Ltd.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 6
Chunk 124
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subsidiaries to transfer cash and/or assets. There are no tax consequences for intercompany borrowings or the payment for intercompany
services, except for the standard value added taxes and/or income taxes for the revenues and/or profits generated from such services.

The
proceeds of any transactions within our organization, including with the VIE and its subsidiaries, are eliminated in our consolidated
financial statements. For more details, please refer to the principles of consolidation set forth in the notes to our Consolidated Financial
Statements for the fiscal year ended September 30, 2024 included in this Annual Report.

As
of the date of this Annual Report, there have been no distributions or dividends by any of our direct or indirect subsidiaries to the
Company. The Company has not declared any dividends or made any distributions to its shareholders, and we do not anticipate declaring
a dividend in the foreseeable future. No assets other than cash are transferred within our organization. For more details, please see
our “Consolidated Financial Statements” and the “Condensed Consolidating Schedule” on page 21.

Financial
Operations Overview

Results
of Operations for the years ended September 30, 2024 and 2023

    For the years ended September 30, 

    2024  
    2023 

    Amount  
    % of revenue  
    Amount  
    % of revenue 
  
    Revenues 
    $2,078,741  
     100.0% 
    $3,917,335  
     100.0%
  
    Cost of revenues 
     605,638  
     29.1  
     433,221  
     11.1 
  
    Gross profit 
     1,473,103  
     70.9  
     3,484,114  
     88.9 
  
    Operating expenses: 

    General and administrative expenses 
     1,818,877  
     87.5  
     2,416,372  
     61.7 
  
    Selling expense 
     1,655,024  
     79.6  
     3,316,631  
     84.7 
  
    Total operating expenses 
     3,473,901  
     167.1  
     5,733,003  
     146.4