Company: IMG
Filing Date: 2025-07-21
Form Type: 10-K
Source: 0001641172-25-020300
Chunk: 215

Company: CIMG Inc.
Filing Date: 2025-07-21
Form: 10-K
Item: Item 1
Chunk 215
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, Maca-Noni, Maca Purified Powder and Maca Wine. All of the products from the Maca Series contain maca green purification factors,
which are green purification of maca plants and pure natural products. After that, the contract packaging service of coffee and the sales
of pure coffee beans gradually decreased, and the Maca Series products became the core products.

In
the fourth quarter of the fiscal year ended September 30, 2024, we focused on the introduction of our first health series in Asia, the
Maca Series, which includes Maca Peptide Coffee, Maca-Noni, Maca Purified Powder and Maca Wine. All of the products from the Maca Series
contains maca green purification factors, which are green purification of maca plants and pure natural products.

Cost of sales and gross margin

    Year ended September 30,  
    Change 

    2024  
    2023  
    Dollars  
    % 
  
    Cost of sales 
    $1,898,122  
    $1,968,785  
    $(70,663) 
     (3.59)%
  
    Gross profit (loss) 
    $32,169  
    $(210,817) 
    $242,986  
     (115.26)%
  
    Gross margin % 
     1.69% 
     (10.71)% 

For the year ended September 30,
2024, our cost of sales totaled $1,898,122, as compared to cost of sales for the year ended September 30, 2023 of $1,968,785,
representing a 3.59% decrease. This is mainly due to the reduction in material and labor costs related to sales. For the year ended
September 30, 2024, our total gross profit was $32,169, while the gross profit for the year ended September 30, 2023 was $(210,817).
This is also mainly due to the reduction in material and labor costs related to sales. The gross profit margin for the year ended
September 30, 2024 was 1.69%, and for the fiscal year ended September 30, 2023, it was (10.71)%. The marginal improvement is mainly
due to the reduction in sales costs.

Operating
Expenses

    Year
                                            ended September