Company: MKDWW
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001641172-25-002607
Chunk: 82

Company: MKDWELL Tech Inc.
Filing Date: 2025-04-03
Form: 20-F
Item: Item 5
Chunk 82
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activities

For
the year ended December 31, 2024, our net cash used in investing activities was US$0.83 million, which was primarily attributable to
(i) the amount of US$0.50 lent to a shareholder who holds less than 5% share interest of the Company, (ii) the amount of US$0.30 lent
to Cetus Sponsor LLC for the payment of extension application fee for business combination between the Company and Cetus Capital and
(iii) the payment of US$0.03 for purchase of equipment for production and office purpose

For
the year ended December 31, 2023, our net cash used in investing activities was US$1.30 million, which was primarily attributable to
the payment of US$0.75 million for purchase of equipment and vehicles and the amount of US$0.58 lent to Cetus Sponsor LLC for the payment
of extension application fee for business combination between the Company and Cetus Capital, and partially offset by the proceeds of
US$0.03 million from disposal of financing lease right-of-use asset.

For
the year ended December 31, 2022, our net cash used in investing activities was US$0.44 million, which was primarily attributable to
the purchase of equipment and vehicles and partially offset by the proceeds from disposal of equipment.

Financing
activities

For
the year ended December 31, 2024, our net cash provided by financing activities was US$3.58 million, consisting primarily of (i) net
proceeds from financing sale and leaseback of US$0.86 million, (ii) net proceeds of US$0.68 million from related parties, (iii) net proceeds
from convertible notes of US$1.70 million, and (iv) proceeds from reverse recapitalization of US$0.24 million.

For
the year ended December 31, 2023, our net cash provided by financing activities was US$3.14 million, consisting primarily of net proceeds
of US$1.95 million from bank borrowings, proceeds of US$0.88 million from shareholder contribution, and net proceeds of US$0.28 million
from related parties.

For
the year ended December 31, 2022, our net cash provided by financing activities was US$0.80 million, consisting primarily of net proceeds
of US$0.66 million from bank borrowings and shareholder contribution of US