Company: KPEA
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002124
Chunk: 429

Company: Kun Peng International Ltd.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 1
Chunk 429
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)
    Consulting
    Service Agreement

    (2)
    Business
    Operation Agreement

    (3)
    Proxy
    Agreement

    (4)
    Equity
    Disposal Agreement

    (5)
    Equity
    Pledge Agreement

15

    (2)
    King
    Eagle (Huai’an) was formed in September 2023 and commenced full operations in October 2023. It was 95% owned by King Eagle
    (Tianjin) and 5% owned by Hu’nan Ant Doctor Health Service Co., Ltd. On July 19, 2024, King Eagle (Tianjin) acquired Hu’nan
    Ant Doctor Health Service Co., Ltd.’s shares of King Eagle (Huai’an), making King Eagle (Huai’an) its wholly-owned
    subsidiary.

    (3)
    Kun Zhi Jian (Huai’an) was formed in October 2023, but did not commence full operations until November 2023.

    (4)
    
    Kun Pin Hui (Shandong) was formed in November 2023 and acquired on April 7, 2024 from Zhandong Fan and Yuanyuan Zhang, shareholders
    of King Eagle (Tianjin). 

    (5)
    Although Chengdu Wenjiang was formed in February 2024, it has not yet commenced operations as of the date of this
Annual Report.

Contractual
Arrangements

While
we do not have any equity interest in our consolidated affiliated entities, King Eagle VIE and its subsidiaries, we have been and are
expected to continue to be dependent on them to operate our business as long as there is limitation or prohibition in the interpretation
and application by local governments of regulations concerning foreign investments in companies such as our consolidated affiliated entities.
We rely on our consolidated affiliated entities to maintain or renew their respective qualifications, licenses, or permits necessary
for our business in China. We believe that under the VIE Agreements, we have substantial control over our consolidated affiliated entities
and their respective shareholders to renew, revise, or enter into new contractual arrangements prior to the expiration of the current
arrangements on terms that would enable us to continue to operate our business in China after the expiration of the current arrangements,
or pursuant to certain amendments and changes of the current applicable PRC laws, regulations, and rules, on terms that would enable
us to continue to operate our business in China legally. While we currently do