Company: MKDWW
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001641172-25-002607
Chunk: 165

Company: MKDWELL Tech Inc.
Filing Date: 2025-04-03
Form: 20-F
Item: Item 19
Chunk 165
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  Total lease payments                                                 61,147  
  Less: imputed interest                                              ( 1,467  
  Total operating lease liabilities, net of interest      $            59,680  

MKDWELL
TECH INC.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

(In
U. S. dollars, except share and per share data)

11. BORROWINGS

As
of December 31, 2023 and 2024, the bank borrowings were for working capital and capital expenditure purposes.

SCHEDULE OF BANK BORROWINGS

                                                  2023                                   2024                 
                                                  As of December 31,                                          
                                                  2023                                   2024                 
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Current portion:                                                                                            
  Short-term bank borrowings                                                                                  
  Bank of Jiaxing (1)                             $                       2,726,197      $         2,648,199  
  Short-term bank borrowings                      $                       2,726,197      $         2,648,199  
  Long-term bank borrowings, current portion                                                                  
  Bank of Jiaxing (1)                                                       596,335                  123,299  
  Long-term bank borrowings, current portion                                596,335                  123,299  
  Subtotal                                        $                       3,322,532      $         2,771,498  
  Non-current portion:                                                                                        
  Long-term bank borrowings                                                                                   
  Bank of Jiaxing (1)                             $                       2,429,465      $         2,814,862  
  Long-term borrowings non-current portion        $                       2,429,465      $         2,814,862  
  Subtotal                                        $                       2,429,465      $         2,814,862  
  Total                                           $                       5,751,997      $         5,586,360  

  (1)      During                                                                                                                                       
           the years ended December 31, 2022, 2023 and 2024, the Company continuously entered into certain                                              
           bank borrowings for the purpose of obtaining financing. The bank borrowings were joint secured                                               
           by Mr. Ming-Chao Huang and Ms. Shu-Hui Cai, the shareholders of the Company, and pledged