Company: KPEA
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006580
Chunk: 42

Company: Kun Peng International Ltd.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 1
Chunk 42
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 its investment.

Kun Pin Hui (Shandong) Trading
Co., Ltd.

Kun
Pin Hui (Shandong) Trading Co., Ltd (“Kun Pin Hui (Shandong)”) was established on November 23, 2023 under the laws of the
People’s Republic of China with a registered capital of approximately $0.4 million (RMB 3 million). The entity is located in Shandong
province, PRC. It has been a wholly-owned subsidiary of King Eagle VIE since its acquisition by King Eagle VIE on April 7, 2024. Kun
Pin Hui (Shandong) commenced operations in April 2024 and is engaged in the sale of health care related products and services.

Chengdu Wenjiang Pengrun
Internet Healthcare Co., Ltd

Chengdu
Wenjiang Pengrun Internet Healthcare Co., Ltd (“Chengdu Wenjiang”) was established on February 1, 2024 under the laws of
the People’s Republic of China with a registered capital of approximately $0.14 million (RMB 1 million). The entity is located
in Sichuan province, PRC. It is a wholly-owned subsidiary of King Eagle VIE. Chengdu Wenjiang has not commenced  operations as of
the date of this report and is applying to the relevant authorities for the necessary permits to sell health care and medical services. There can
be no assurance that such permits will be obtained.

NOTE
2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis
of Presentation

The
condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”)
applicable to quarterly financial information and the requirements of Form 10-Q and Rule 8-03 of Regulation S-X of the Securities and
Exchange Commission. Accordingly, they do not include all of the information and disclosure required by accounting principles generally
accepted in the United States of America for complete financial statements. Quarterly results are not necessarily indicative of results
for a full year. In the opinion of management, all adjustments considered necessary for a fair presentation of the financial position
and the results of operations and cash flows for the quarterly periods have been included.

These
condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements
and notes thereto for the year ended September 30, 2024 included in the Form 10-K filed with the SEC on January