Company: MKDWW
Filing Date: 2025-04-15
Form Type: 424B3
Source: 0001641172-25-004780
Chunk: 120

Company: MKDWELL Tech Inc.
Filing Date: 2025-04-15
Form: 424B3
Chunk 120
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 |   | (59.5 | )% |
| Rental income                             |     |                              |   267,591 |     |      |   177,593 |     |        | (89,998    | ) |     |   | (33.6 | )% |
| Others                                    |     |                              |   131,014 |     |      |   120,711 |     |        | (10,303    | ) |     |   | (7.9  | )% |
| Total                                     |     | $                            | 3,670,722 |     | $    | 1,998,971 |     | $      | (1,671,751 | ) |     |   | (45.5 | )% |

Our total revenues decreased by US$1.67 million, or 45.5% from US$3.67 million for the year ended December 31, 2023 to US$2.00 million for the year ended December 31, 2024, primarily attributable to the decrease of sales of manufactured electronic products and commissioned processing service.

Revenues from our sales of manufactured electronic products decreased by US$1.01 million, or 43.4%, from US$2.33 million for the year ended December 31, 2023 to US$1.32 million for the year ended December 31, 2024, which was mainly contributed to the decrease of orders and customers.

Revenues from our commissioned processing service decreased by US$0.56 million, or 59.5%, from US$0.94 million for the year ended December 31, 2023 to US$0.38 million for the year ended December 31, 2024, which was mainly contributed to the termination of cooperation with a major customer. The commissioned processing revenue from this major customer accounted for 22.2% of the total revenue in FY2023, while in FY2024 its revenue contribution was negligible. The Company is actively seeking new customers and has established cooperation with new customers. In 2024, the Company has developed five new customers of commissioned processing service, whose revenue contributions accounted for 10.2% of the total revenue of 2024.

Rental income decreased by US$0.09 million, or 33.6%, from US$0.27 million for the year ended December 31, 2023 to US$0.18 million for the year