# EDGAR Filing Document

**Accession Number:** 0001935033
**File Stem:** 0001493152-25-027350
**Filing Date:** 2025-12
**Character Count:** 80260
**Document Hash:** 0ac875ac10692c62de3f3226d6ad13be
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-25-027350.hdr.sgml**: 20251212

**ACCESSION NUMBER**: 0001493152-25-027350

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 66

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251212

**DATE AS OF CHANGE**: 20251212

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** KEEMO Fashion Group Ltd
- **CENTRAL INDEX KEY:** 0001935033
- **STANDARD INDUSTRIAL CLASSIFICATION:** WHOLESALE-APPAREL, PIECE GOODS & NOTIONS [5130]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 320686375
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-267967
- **FILM NUMBER:** 251566494

**BUSINESS ADDRESS:**
- **STREET 1:** 69 WANKE BOYU, XILI LUXIN 1ST RD
- **STREET 2:** NANSHAN DISTRICT
- **CITY:** GUANGDONG
- **STATE:** F4
- **ZIP:** 518052
- **BUSINESS PHONE:** 8617612822030

**MAIL ADDRESS:**
- **STREET 1:** 69 WANKE BOYU, XILI LUXIN 1ST RD
- **STREET 2:** NANSHAN DISTRICT
- **CITY:** GUANGDONG
- **STATE:** F4
- **ZIP:** 518052

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 10-Q**

☒ **QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**For the Quarterly Period Ended October 31, 2025**

**or**

☐ **TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**For the transition period from ______ to ______**

Commission File Number 333-267967

**KEEMO FASHION GROUP LIMITED**

(Exact name of registrant issuer as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Nevada** | 5130 | **32-0686375** |
| (State or other jurisdiction<br> of incorporation or organization) | (Primary Standard Industrial<br> Classification Number) | (IRS Employer<br> Identification Number) |

---

**69 Wanke Boyu, Xili Liuxin 1st Rd, Nanshan District, Shenzhen, Guangdong 518052, China**

(Address of principal executive offices, including zip code)

Issuer's telephone number: (+86) 176-1282-2030

Company email: keemofashiongroup@gmail.com

(Registrant's telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (section 232.405 of this chapter) during the preceding twelve months (or shorter period that the registrant was required to submit and post such files).

Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act. (Check one):

Large Accelerated Filer ☐ Accelerated Filer ☐ Non-accelerated Filer ☒ Smaller reporting company ☒ <br> Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

**APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE**

**PRECEDING FIVE YEARS:**

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court.

N/A

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name on each exchange on which registered** |
| N/A | N/A | N/A |

---

**APPLICABLE ONLY TO CORPORATE ISSUERS:**

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date.

---

| | |
|:---|:---|
| **Class** | **Outstanding on December 12, 2025** |
| Common Stock, $0.001 par value | 55000000 |

---

**TABLE OF CONTENTS**

---

| | | |
|:---|:---|:---|
|  |  | **Page** |
| **PART I** | **[FINANCIAL INFORMATION](#H_001)** |  |
| ITEM 1. | [CONDENSED CONSOLIDATED FINANCIAL STATEMENTS:](#H_002) |  |
|  | [CONDENSED CONSOLIDATED BALANCE SHEETS AS OF OCTOBER 31, 2025 (UNAUDITED) AND JULY 31, 2025 (AUDITED)](#H_003) | F-1 |
|  | [CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS FOR THE THREE MONTHS ENDED OCTOBER 31, 2025 AND 2024 (UNAUDITED)](#H_004) | F-2 |
|  | [CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' DEFICIT FOR THE THREE MONTHS ENDED OCTOBER 31, 2025 AND 2024 (UNAUDITED)](#H_005) | F-3 |
|  | [CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE THREE MONTHS ENDED OCTOBER 31, 2025 AND 2024 (UNAUDITED)](#H_006) | F-4 |
|  | [NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS](#H_007) | F-5 – F-15 |
| ITEM 2. | [MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS](#H_008) | 3-5 |
| ITEM 3. | [QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK](#H_009) | 5 |
| ITEM 4. | [CONTROLS AND PROCEDURES](#H_010) | 5 |
| **PART II** | **[OTHER INFORMATION](#H_011)** |  |
| ITEM 1. | [LEGAL PROCEEDINGS](#H_012) | 7 |
| ITEM 2. | [UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS](#H_013) | 7 |
| ITEM 3. | [DEFAULTS UPON SENIOR SECURITIES](#H_014) | 7 |
| ITEM 4. | [MINE SAFETY DISCLOSURES](#H_015) | 7 |
| ITEM 5. | [OTHER INFORMATION](#H_016) | 7 |
| ITEM 6. | [EXHIBITS](#H_017) | 7 |
| **[SIGNATURES](#H_018)** | **[SIGNATURES](#H_018)** | 8 |

---

**PART I — FINANCIAL INFORMATION**

**ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**KEEMO FASHION GROUP LIMITED**

**CONDENSED CONSOLIDATED BALANCE SHEETS**

**AS OF OCTOBER 31, 2025 (UNAUDITED) AND JULY 31, 2025 (AUDITED)**

**(CURRENCY EXPRESSED IN UNITED STATES DOLLARS ("US$"), EXCEPT FOR NUMBER OF SHARES)**

---

| | | |
|:---|:---|:---|
|  | **As of**<br> **October 31, 2025** | **As of**<br> **July 31, 2025** |
|  | **(Unaudited)** | **(Audited)** |
|  | **(Consolidated)** | **(Standalone)** |
| **<u>ASSETS</u>** |  |  |
| &nbsp;&nbsp;&nbsp;CURRENT ASSETS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $28612 | $3088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Account receivable, net | 39 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepayment | 184 | - |
| &nbsp;&nbsp;&nbsp;TOTAL CURRENT ASSETS | 28835 | 3088 |
| &nbsp;&nbsp;&nbsp;NON-CURRENT ASSET |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodwill | 293498 | - |
| &nbsp;&nbsp;&nbsp;TOTAL NON-CURRENT ASSET | 293498 | - |
| **TOTAL ASSETS** | $322333 | $3088 |
| **<u>LIABILITIES AND SHAREHOLDERS' EQUITY</u>** |  |  |
| &nbsp;&nbsp;&nbsp;CURRENT LIABILITIES |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Due to related parties | $518660 | $76389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred revenue | 45248 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other payables and accrued liabilities | 9277 | 8765 |
| &nbsp;&nbsp;&nbsp;TOTAL CURRENT LIABILITIES | 573185 | 85154 |
| **TOTAL LIABILITIES** | $573185 | $85154 |
| &nbsp;&nbsp;&nbsp;SHAREHOLDERS' EQUITY |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stock – Par value $0.001; Authorized: 75,000,000 shares; Issued and outstanding: 55,000,000 as of October 31, 2025 and July 31, 2025 | $5500 | $5500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additional paid in capital | 25317 | 26600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit | (279305) | (114166) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss | (2364) | - |
| **TOTAL SHAREHOLDERS' DEFICIT** | $(250852) | $(82066) |
| **TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT** | $322333 | $3088 |

---

Comparative year reflects standalone parent only (unconsolidated). Consolidation began in current quarter – see Note 2.

The accompanying notes are an integral part of these condensed consolidated financial statements.

**KEEMO FASHION GROUP LIMITED**

**CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS**

**FOR THE THREE MONTHS ENDED OCTOBER 31, 2025 AND 2024**

**(UNAUDITED)**

**(CURRENCY EXPRESSED IN UNITED STATES DOLLARS ("US$"))**

---

| | | |
|:---|:---|:---|
|  | **Three months ended**<br> **October 31** | **Three months ended**<br> **October 31** |
|  | **2025** | **2024** |
|  | **(Consolidated)** | **(Standalone)** |
| REVENUE | $- | $4946 |
| COST OF REVENUE |  | (2438) |
| GROSS PROFIT | $- | $2508 |
| GENERAL AND ADMINISTRATIVE EXPENSES | (12436) | (10909) |
| LOSS FROM OPERATION BEFORE INCOME TAX | (12436) | (8401) |
| OTHER INCOME | - | - |
| LOSS BEFORE INCOME TAX | (12436) | (8401) |
| INCOME TAX EXPENSES | - | - |
| **NET LOSS** | $(12436) | $(8401) |
| OTHER COMPREHENSIVE LOSS: |  |  |
| FOREIGN CURRENCY TRANSLATION ADJUSTMENTS | (2364) | - |
| **TOTAL COMPREHENSIVE LOSS** | $(14800) | $(8401) |
| NET LOSS PER SHARE- BASIC AND DILUTED | 0.00 | 0.00 |
| WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC AND DILUTED | 55000000 | 55000000 |

---

Comparative quarter reflects standalone parent only (unconsolidated). Consolidation began in current quarter – see Note 2.

The accompanying notes are an integral part of these condensed consolidated financial statements.

**KEEMO FASHION GROUP LIMITED**

**CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' DEFICIT**

**FOR THE THREE MONTHS ENDED OCTOBER 31, 2025 AND 2024**

**(UNAUDITED)**

**(CURRENCY EXPRESSED IN UNITED STATES DOLLARS ("US$"), EXCEPT FOR NUMBER OF SHARES)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **COMMON STOCK** | **COMMON STOCK** | | | | | |
|  | **NUMBER OF<br> SHARES** | **AMOUNT** |<br>**ADDITIONAL<br> PAID-IN<br> CAPITAL** |<br>**SUBSCRIPTION<br> RECEIVABLE** |<br>**ACCUMULATED<br> DEFICIT** | **ACCUMULATED**<br>**OTHER <br> COMPREHENSIVE <br> LOSS** |<br>**TOTAL<br> SHAREHOLDERS' <br> DEFICIT** |
| Balance as of July 31, 2025 | 55000000 | $5500 | $26600 | $- | $(114166) | $- | $(82066) |
| Equity assumed on acquisition |  |  | 50000 | (51283) |  |  | (1283) |
| Net between subscription receivables and additional paid-in capital |  |  | (51283) | 51283 |  |  |  |
| Net liabilities recognized through prior acquisition |  |  |  |  | (41014) |  | (41014) |
| Net liabilities recognized through common control |  |  |  |  | (111689) |  | (111689) |
| Net loss |  |  |  |  | (12436) |  | (12436) |
| Foreign currency translation adjustment | - | - | - | - | - | (2364) | (2364) |
| Balance as of October 31, 2025 | 55000000 | $5500 | $25317 | $- | $(279305) | $(2364) | $(250852) |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **COMMON STOCK** | **COMMON STOCK** | | | |
|  | **Number of shares** | **Amount** | **ADDITIONAL**<br>**PAID-IN CAPITAL** |<br>**ACCUMULATED DEFICIT** | **TOTAL**<br>**SHAREHOLDERS' DEFICIT** |
| Balance as of July 31, 2024 | 55000000 | $5500 | $26600 | $(81045) | $(48945) |
| Net loss | - | - | - | (8401) | (8401) |
| Balance as of October 31, 2024 | 55000000 | $5500 | $26600 | $(89446) | $(57346) |

---

Comparative quarter reflects standalone parent only (unconsolidated). Consolidation began in current quarter – see Note 2.

The accompanying notes are an integral part of these condensed consolidated financial statements.

**KEEMO FASHION GROUP LIMITED**

**CONDENSED** **CONSOLIDATED STATEMENT OF CASH FLOWS**

**FOR THE** **THREE MONTHS ENDED OCTOBER 31, 2025 AND 2024**

**(UNAUDITED)**

**(CURRENCY EXPRESSED IN UNITED STATES DOLLARS ("US$"))**

---

| | | |
|:---|:---|:---|
|  | **Three months ended<br> October 31** | **Three months ended<br> October 31** |
|  | **2025** | **2024** |
|  | **(Consolidated)** | **(Standalone)** |
| **CASH FLOWS FROM OPERATING ACTIVITIES:** |  |  |
| &nbsp;&nbsp;&nbsp;Net loss | $(12436) | $(8401) |
| Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Inventories |  | (2643) |
| &nbsp;&nbsp;&nbsp;Prepayment | (166) | 3467 |
| &nbsp;&nbsp;&nbsp;Amount due to a director |  | 10597 |
| &nbsp;&nbsp;&nbsp;Deferred revenue | (391) |  |
| &nbsp;&nbsp;&nbsp;Other payables and accrued liabilities | (2641) | (4300) |
| **Net cash used in operating activities** | (15634) | (1280) |
| **CASH FLOWS FROM INVESTING ACTIVITY:** |  |  |
| Cash acquired from acquisition of subsidiaries | 29687 | - |
| **Net cash from investing activity** | 29687 | - |
| **CASH FLOWS FROM FINANCING ACTIVITY:** |  |  |
| Advance from related parties | 11293 | - |
| **Net cash from financing activity** | 11293 | - |
| Effect of exchange rate changes on cash and cash equivalent | 178 |  |
| Net increase/(decrease) in cash and cash equivalents | 25524 | (1280) |
| Cash and cash equivalents, beginning of period | 3088 | 19421 |
| **CASH AND CASH EQUIVALENTS, END OF PERIOD** | $28612 | $18141 |
| **SUPPLEMENTAL CASH FLOWS INFORMATION** |  |  |
| &nbsp;&nbsp;&nbsp;Income taxes paid | $- | $- |
| &nbsp;&nbsp;&nbsp;Interest paid | $- | $- |

---

Comparative quarter reflects standalone parent only (unconsolidated). Consolidation began in current quarter – see Note 2.

The accompanying notes are an integral part of these condensed consolidated financial statements.

**KEEMO FASHION GROUP LIMITED**

**NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**FOR THREE MONTHS ENDED OCTOBER 31, 2025 AND 2024 (UNAUDITED)**

**(CURRENCY EXPRESSED IN UNITED STATES DOLLARS ("US$"), EXCEPT FOR NUMBER OF SHARES)**

**1. ORGANIZATION AND BUSINESS BACKGROUND**

KEEMO Fashion Group Limited, a Nevada corporation, (herein referred as "the Company") was incorporated under the laws of the State of Nevada on April 22, 2022.

KEEMO Fashion Group Limited is headquartered in Shenzhen, People Republic of China (herein referred as ("China"). We primarily operate in men and women apparel and garment trading business, focusing on wholesaling to distributors mainly based in China, sourcing directly from manufacturers in China. We do not maintain and operate any production and manufacturing of apparel facility or machine and equipment.

The Company's executive office is located at 69, Wanke Boyu, Xili Liuxin 1<sup>st</sup> Rd, Nanshan District, Shenzhen, Guangdong 518052, China.

On July 25, 2024, the Board of Directors approved a ten-for-one (10:1) forward stock split (the "Forward Split") of the Company's common stock, par value $0.001 per share. The Company filed a Certificate of Amendment and Restated Certificate of Incorporation (the "Certificate of Amendment") to effect the forward stock split with the Secretary of State of Nevada on August 2, 2024. The Forward Split became effective on August 8, 2024 and our common stock began trading on a split-adjusted basis on August 9, 2024. Concurrently with the effectiveness of the split, the issued and outstanding shares of common stock increased from 5,500,000 to 55,000,000, which is proportional to the ratio of the split. All share and per share amounts presented herein have been retroactively adjusted to reflect the impact of the Forward Split.

Acquisition of GW Reader Holding Limited and its Subsidiaries

On May 26, 2025, the Company entered into a Material Definitive Agreement, pursuant to a Share Purchase Agreement (the "Agreement") with Guang Wen Global Group Limited (the "Seller"), a company incorporated in the British Virgin Islands. Under the terms of the Agreement, the Company agreed to acquire 100% of the issued and outstanding shares of GW Reader Holding Limited ("GW Reader Holding"), a company incorporated on October 12, 2023 in the Cayman Islands and a wholly-owned subsidiary of the Seller. Through this acquisition, the Company would also obtain ownership of all assets held by GW Reader Holding, including its two wholly-owned subsidiaries: Willing Read Culture Technology Co., Limited ("Willing Read"), incorporated on May 6, 2024 in Hong Kong, and GW Reader Sdn. Bhd. ("GW Reader"), incorporated on October 30, 2020 in Malaysia.

On September 2, 2025, the Company completed the acquisition of GW Reader Holding. Upon closing, the Company became the sole direct shareholder of GW Reader Holding and, through this ownership structure, obtained 100% indirect ownership of Willing Read and GW Reader.

As of the issuance date of this financial report, the details of the Company's subsidiaries are as follows. All subsidiaries of the Group are wholly-owned by the Company.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Name of Entity** | **Date of<br> Incorporation** | **Place of<br> Incorporation** | **% of<br> Ownership** | **Principal Activities** |
| GW Reader Holding Limited ("GW Reader Holding") | October 12, 2023 | Cayman Islands | 100% | Investment holding |
| Willing Read Culture Technology Co., Limited ("Willing Read") | May 6, 2024 | Hong Kong | 100% | Investment holding |
| GW Reader Sdn. Bhd. ("GW Reader") | October 30, 2020 | Malaysia | 100% | Digital publishing |

---

During the financial period, following the acquisition of new subsidiaries, the Company also ventured into the digital publishing business. This includes providing users with access to paid digital content such as web-novels and e-books, where users purchase virtual currency ("Coins") to redeem for specific content.

Business of GW Reader Sdn. Bhd.

GW Reader operates a digital publishing platform specializing in serialized online fiction for a global audience. Through its proprietary mobile application and website, the company develops, sources, and distributes original and translated content across popular genres such as romance, fantasy, and action. GW Reader uses a "pay-per-chapter" microtransaction model in which users purchase tokens to unlock individual episodes. This model offers readers flexibility while supporting ongoing content creation.

As of the reporting date, the Company operates two primary business segments:

&nbsp;&nbsp;&nbsp;&nbsp;1. Apparel
 Trading Business – conducted through KEEMO Fashion Group Limited in China.

&nbsp;&nbsp;&nbsp;&nbsp;2. Digital
 Publishing Business – conducted through GW Reader Sdn. Bhd. in Malaysia.

**2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

Basis of Presentation and Principles of Consolidation

The condensed consolidated financial statements of the Company have been prepared in accordance with the generally accepted accounting principles in the United States of America ("U.S. GAAP") and regulations of the Securities and Exchange Commission (the "SEC").

The Company has adopted July 31 as its fiscal year end.

On September 2, 2025, the Company completed the acquisition of GW Reader Holding, Willing Read and GW Reader ("GW Reader Holding Group") from its major shareholder. No consideration was paid. As the transfer represents a transaction between entities under common control in accordance with ASC 805-50, *Business Combinations* ("ASC 805-50") the assets and liabilities of GW Reader Holding Group were recognized at their historical carrying amounts on the date of combination.

The accompanying condensed consolidated financial statements include the results of GW Reader Holding Group from September 2, 2025 onwards. The Company did not have subsidiaries requiring consolidation in prior periods. Accordingly, comparative prior-period financial information is presented on a standalone (parent-only) basis and has not been restated.

The condensed consolidated financial statements include the accounts of the Company and its subsidiaries and all intercompany transactions and balances have been eliminated. Acquired businesses are included in the condensed consolidated financial statements from the date on which control is transferred to the Company.

Going Concern

For the three months ended October 31, 2025, the Company incurred a net loss of $12,436 and the current liabilities of the Company exceeded its current assets by $544,350 and has a shareholders' deficits of $250,852. These conditions raise substantial doubt about the Company's ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company's profit generating operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they become due. These condensed consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. The Company expects to finance its operations primarily through continuing financial support from a shareholder. In the event that we require additional funding to finance the growth of the Company's current and expected future operations as well as to achieve our strategic objectives, the shareholder has indicated the intent and ability to provide additional financing.

Use of Estimates and Significant Judgements

Management uses estimates and judgements in preparing these condensed consolidated financial statements in accordance with US GAAP. These estimates and judgements affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenue and expenses during the periods presented. Actual results may differ from these estimates. In particular, management made the judgement that the acquisition of GW Reader Holding Group from the Company's major shareholder qualifies as a common-control transaction under ASC 805-50. Accordingly, the assets and liabilities of GW Reader Holding Group were recognized at their historical carrying amounts, consolidation began on the completion date of September 2, 2025, and prior periods were not restated.

Cash and Cash Equivalents

Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments.

Revenue Recognition

The Company recognizes revenue in accordance with ASC 606, *Revenue from Contracts with Customers ("ASC 606")*. Under ASC 606, revenue is recognized when control of the promised goods or services is transferred to the customer in an amount that reflects the consideration the Company expects to receive. The Company applies the following five-step model to all revenue arrangements:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) identification of the promised goods and services in the contract;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) determination of whether the promised goods and services are performance obligations, including whether they are distinct in the context of the contract;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) measurement of the transaction price, including the constraint on variable consideration;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) allocation of the transaction price to the performance obligations; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) recognition of revenue when (or as) the Company satisfies each performance obligation.

The Company generates revenue from two primary sources:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Apparel trading business; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Digital publishing business.

Apparel trading business

The Company engages in the wholesale distribution of apparel products. Revenue is recognized when control of the goods transfers to the customer, which generally occurs upon delivery. The Company's performance obligation in these arrangements is the transfer of apparel products. The Company does not have significant variable consideration in its wholesale operations.

Digital publishing business

The Company provides users with access to paid digital content, including web-novels and e-books. Users purchase virtual currency ("Coins"), which is subsequently redeemed for access to specific content. The Company's performance obligation is to provide access to the selected content.

Revenue is recognized based on the usage of Coins by users, as such usage represents a faithful depiction of the transfer of services.

The Company has determined that it is the principal in the majority of Paid Content transactions because it controls the monetization and availability of content, has discretion in establishing pricing, is responsible for customer service, and controls the promotion and presentation of content. Accordingly, revenue is recognized gross, and amounts retained by content creators are recorded as expenses.

Deferred Revenue

Deferred revenue is recorded when the Company entered into a contract with a customer and cash payments are received or due prior to transfer of control or satisfaction of the related performance obligation.

Credit losses

The Company estimates and records a provision for its expected credit losses related to its financial instruments, including its trade receivables. Management considers historical collection rates, the current financial status of the Company's customers, macroeconomic factors, and other industry-specific factors when evaluating current expected credit losses. Forward-looking information is also considered in the evaluation of current expected credit losses. However, because of the short time to the expected receipt of accounts receivable, management believes that the carrying value, net of expected losses, approximates fair value and therefore, relies more on historical and current analysis of such financial instruments, including its trade receivables.

To determine the provision for credit losses for accounts receivable, the Company has disaggregated its accounts receivable by class of customer at the business component level, as management determined that risk profile of the Company's customers is consistent based on the type and industry in which they operate. Each business component is analyzed for estimated credit losses individually. In doing so, the Company establishes a historical loss matrix, based on the previous collections of accounts receivable by the age of such receivables, and evaluates the current and forecasted financial position of its customers, as available. Further, the Company considers macroeconomic factors and the status of the relevant industry to estimate if there are current expected credit losses within its trade receivables based on the trends of the Company's expectation of the future status of such economic and industry-specific factors. Also, specific allowance amounts are established based on review of outstanding invoices to record the appropriate provision for customers that have a higher probability of default.

As of October 31, 2025, there were no allowances for credit losses recorded against accounts receivable.

Cost of Revenue

In accordance with ASC 340-40, *Contracts with Customers* ("ASC 340-40") and ASC 606, the Company recognizes cost of revenue as those costs directly attributable to the delivery of its services and the generation of revenue.

Apparel trading business

Cost of revenue includes the cost of purchasing apparel products and freight or handling costs directly associated with fulfilling customer orders.

Cost of revenue does not include indirect expenses such as general administrative expenses and marketing-related costs.

Digital publishing business

Cost of revenue primarily consists of service charges imposed by a third-party collection company that processes and remits customer payments. These charges are deducted from gross collections and are recognized in the period in which the related revenue is earned.

Cost of revenue does not include indirect costs such as general administrative expenses or marketing-related costs.

Net (Loss) Income Per Share

The Company calculates net (loss) income per share in accordance with ASC 260, *Earnings per Share* ("ASC 260"). Basic (loss) income per share is computed by dividing the net (loss) income by the weighted-average number of common shares outstanding during the period. Diluted income per share is computed similar to basic (loss) income per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive.

As of October 31, 2025, the Company has no potentially dilutive securities, such as options or warrants, outstanding.

Income Taxes

The Company accounts for income taxes using the asset and liability method prescribed by ASC 740, *Income Taxes* ("ASC 740"). Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the years in which the differences are expected to reverse. The Company records a valuation allowance to offset deferred tax assets if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is recognized as income or loss in the period that includes the enactment date. The Company also adopted ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures", which requires disaggregated information about the reporting entity's effective tax rate reconciliation as well as information on income taxes paid.

ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclosed in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts.

Foreign currencies translation

Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statement of operations and comprehensive income (loss).

The functional currency of the Company is the United States Dollars ("US$" or "US dollars") and the accompanying condensed consolidated financial statements have been expressed in US dollars. In addition, the Company's subsidiary maintains its books and record in Malaysia Ringgit ("MYR"), United States Dollars ("US$") and Hong Kong Dollars ("HK$"), which is the respective functional currency as being the primary currency of the economic environment in which the entity operates.

In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not US dollars are translated into US dollars, in accordance with ASC 830-30, *Translation of Financial Statement* ("ASC 830-30"), using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements of foreign subsidiary are recorded as a separate component of accumulated other comprehensive income.

Translation of amounts from the local currency of the Company into US$1 has been made at the following exchange rates for the respective periods:

---

| | | |
|:---|:---|:---|
|  | **For the three months ended**<br> **October 31,** | **For the three months ended**<br> **October 31,** |
|  | **2025** | **2024** |
| Period-end MYR : US$1 exchange rate | 4.21 | 4.38 |
| Period-average MYR : US$1 exchange rate | 4.21 | 4.27 |
| Period-end HK$ : US$1 exchange rate | 7.77 | 7.75 |
| Period-average HK$ : US$1 exchange rate | 7.80 | 7.75 |

---

Related Parties

Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence.

Fair Value Measurement

ASC 820, *Fair Value Measurements and Disclosures* ("ASC 820"), defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. The statement clarifies that the exchange price is the price in an orderly transaction between market participants to sell the asset or transfer the liability in the market in which the reporting entity would transact for the asset or liability, that is, the principal or most advantageous market for the asset or liability. It also emphasizes that fair value is a market-based measurement, not an entity-specific measurement, and that market participant assumptions include assumptions about risk and effect of a restriction on the sale or use of an asset.

This ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below:

Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;

Level 2: Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and

Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).

Segment Reporting

The Company follows the guidance of ASC 280, *Segment Reporting* ("ASC 280"), which establishes standards for reporting information about operating segments on a basis consistent with the Company's internal organization structure as well as information about services categories, business segments and major customers in financial statements. For the three months ended October 31, 2025, the Company has two reportable segments based on business unit, apparel and garment trading business and digital publishing business and two reportable segments based on country, China and Malaysia. The Company also adopted ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures", which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses.

Recently Accounting Pronouncements

In November 2023, the FASB issued ASU 2023-07 "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures" which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. The ASU 2023-07 is effective for annual reporting periods beginning after December 15, 2023 and interim periods in fiscal years beginning after December 15, 2024, and early adoption is permitted. The Company is currently evaluating the impact of this ASU may have on its condensed consolidated financial statements and related disclosures.

In December 2023, the FASB issued ASU 2023-09 "Income Taxes (Topic 740): Improvements to Income Tax Disclosures" to expand the disclosure requirements for income taxes, specifically related to the rate reconciliation and income taxes paid. The ASU 2023-09 is effective for annual reporting periods beginning after December 15, 2024, and early adoption is permitted. The Company is currently evaluating the impact of this ASU may have on its condensed consolidated financial statements and related disclosures.

In November 2024, the FASB issued ASU 2024-03 "Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) Disaggregation of Income Statement Expenses". The guidance in ASU 2024-03 requires public business entities to disclose in the notes to the financial statements, among other things, specific information about certain costs and expenses including purchases of inventory; employee compensation; and depreciation, amortization and depletion expenses for each caption on the income statement where such expenses are included. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted, and the amendments may be applied prospectively to reporting periods after the effective date or retrospectively to all periods presented in the financial statements. The Company is currently evaluating the provisions of this guidance and assessing the potential impact on the Company's condensed consolidated financial statement disclosures.

In March 2025, the FASB issued ASU 2025-02, "Liabilities (Topic 405): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 122", which removes certain SEC guidance related to obligations to safeguard crypto-assets. The Company does not engage in activities involving crypto-assets; therefore, the adoption of this ASU is not expected to have a material impact on its condensed consolidated financial statements.

In May 2025, the FASB issued ASU 2025-04, "Compensation—Stock Compensation (Topic 718) and Revenue from Contracts with Customers (Topic 606): Clarifications to Share-Based Consideration Payable to a Customer", which amends ASC 718 and ASC 606 to (i) expand the definition of a performance condition to include vesting tied to a customer's own purchases or the purchases of the customer's customers, (ii) require entities to estimate expected forfeitures, and (iii) clarify that the variable consideration guidance in ASC 606 does not apply to share-based consideration payable to a customer. The amendments are effective for annual and interim periods beginning after December 15, 2026, with early adoption permitted. We are currently evaluating the impact of this guidance on our condensed consolidated financial statements.

The Company reviews new accounting standards as issued. Management has not identified any other new standards that it believes will have a significant impact on the Company's condensed consolidated financial statements.

**3. GOODWILL**

**Acquisition of GW Reader Sdn. Bhd.**

On October 17, 2024, Willing Read acquired 100% of the equity interests of GW Reader. The acquisition was accounted for under the acquisition method of accounting in accordance with ASC 805. The purchase price was allocated to the assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date. The excess of the consideration transferred over the fair value of the net assets acquired and liabilities assumed was recorded as goodwill.

**Goodwill Calculation**

Goodwill represents the excess of the purchase consideration transferred over the fair value of the net assets acquired and liabilities assumed. The preliminary allocation of the purchase price is summarized as follows:

---

| | |
|:---|:---|
| Cash and cash equivalents | $6785 |
| Accounts receivable, net | 640 |
| Prepayments | 186 |
| Intangible asset, net | 2944 |
| Accrued expenses | (8301) |
| Amount due to director | (251522) |
| Deferred revenue | (44230) |
| Adjustment for foreign exchange fluctuation | (2) |
| Fair value of GW Reader Sdn. Bhd. | $(293500) |
| Fair value of consideration | 2 |
| Goodwill | $(293498) |

---

**Acquisition by GW Reader Holding Limited (Common Control Transaction)**

On November 27, 2024, GW Reader Holding acquired 100% of the equity interests of Willing Read. As both entities were under the common control, the transaction was accounted for in accordance with ASC 805-50. Accordingly, the assets and liabilities of Willing Read, including the goodwill recognized in connection with the October 17, 2024 acquisition of GW Reader, were recorded by GW Reader Holding at their predecessor carrying amounts. No new goodwill was recognized in connection with this transaction.

**4. ACCOUNTS RECEIVABLE, NET**

As of October 31, 2025 and July 31, 2025, the Company accounts receivable, net consist of following

---

| | | |
|:---|:---|:---|
|  | **As of**<br> **October 31, 2025** | **As of**<br> **July 31, 2025** |
| Accounts receivable, net | $39 | $- |
| **Total accounts receivable, net** | $**39** | $**-** |

---

**5. PREPAYMENT**

As of October 31, 2025 and July 31, 2025, the Company prepayment consist of following:

---

| | | |
|:---|:---|:---|
|  | **As of**<br> **October 31, 2025** | **As of**<br> **July 31, 2025** |
| Company secretarial fee | $184 | $- |
| **Total prepayment** | $**184** | $**-** |

---

**6. RELATED PARTY TRANSACTIONS**

---

| | | |
|:---|:---|:---|
|  | **As of<br> October 31, 2025** | **As of<br> July 31, 2025** |
| **Due to related parties:** |  |  |
| - Related party A | $86348 | $76389 |
| - Related party B | 169196 |  |
| - Related party C | 263116 | - |
|  | $**518660** | $**76389** |

---

The amounts due to related parties are interest-free, unsecured, and repayable on demand.

Related party A represents Liu Lu, who is the Chief Executive Officer, President, Secretary, Treasurer, and a Director of Keemo Fashion Group Limited.

Related party B represents Huang Jia, who is a director of GW Reader Holding Limited.

Related party C represents Seah Chia Yee, who is a director of GW Reader Sdn. Bhd.

**Acquisition of GW Reader Holding Group**

The Company acquired 100% of the equity interests of GW Reader Holding Group from Guang Wen Global Group Limited, the Company's major shareholder, on May 26, 2025, with completion of the transfer on September 2, 2025. The transfer was executed without consideration. As the transaction involved the Company's controlling shareholder, it is classified as a related-party transaction under ASC 850, *Related Party Disclosures* ("ASC 850").

**7. OTHER PAYABLES AND ACCRUED LIABILITIES**

As of October 31, 2025 and July 31, 2025, other payables and accrued liabilities consist of following:

---

| | | |
|:---|:---|:---|
|  | **As of<br> October 31, 2025** | **As of<br> July 31, 2025** |
| Other payables | $4388 |  |
| Accrued liabilities | 4889 | 8765 |
| **Total other payables and accrued liabilities** | $**9277** | $**8765** |

---

Other payables and accrued liabilities as of October 31, 2025 and July 31, 2025 consist of accrued audit fee, other professional fees and commission payables.

**8. SHAREHOLDERS' EQUITY**

On April 22, 2022, upon the incorporation of the Company, Liu Lu, subscribed to 3,600,000 shares of common stock at par value of $0.001 per share for a total subscription value of $3,600.

On 26 July, 2023, the Company issued 1,900,000 shares of common stock being sold at $0.015 per share for a total of $28,500 through initial public offering.

On July 25, 2024, the Board of Directors approved a ten-for-one (10:1) forward stock split (the "Forward Split") of the Company's common stock, par value $0.001 per share. The Company filed a Certificate of Amendment and Restated Certificate of Incorporation (the "Certificate of Amendment") to effect the forward stock split with the Secretary of State of Nevada on August 2, 2024. The Forward Split became effective on August 8, 2024 and our common stock began trading on a split-adjusted basis on August 9, 2024. Concurrently with the effectiveness of the split, the issued and outstanding shares of common stock increased from 5,500,000 to 55,000,000, which is proportional to the ratio of the split. All share and per share amounts presented herein have been retroactively adjusted to reflect the impact of the Forward Split.

As of October 31, 2025, the Company has 55,000,000 shares of common stock issued and outstanding.

The Company has 75,000,000 shares of commons stock authorized.

**9. ASSETS AND LIABILITIES RECOGNIZED THROUGH COMMON CONTROL**

On September 2, 2025, the Company completed the acquisition of GW Reader Holding and its wholly owned subsidiary Willing Read. As the Company and the Seller were under common control prior to the transaction, this acquisition is accounted for as a common-control transaction under ASC 805-50.

GW Reader was not acquired under common control. It was previously acquired by Willing Read on October 17, 2024, in a separate transaction accounted for under the purchase method. Accordingly, the assets and liabilities of GW Reader are not included in the common-control recognition amounts below.

In accordance with ASC 805-50, the Company recognized the assets and liabilities of GW Reader Holding and Willing Read at their carrying amounts in the financial statements of the transferring entity at the date of transfer. No goodwill, gain, or loss was recognized in connection with the common-control transaction. Any difference between the consideration transferred and the carrying amounts of the net assets received was recorded within Additional Paid-in Capital.

The following table summarizes the carrying amounts of assets and liabilities recognized through the common-control transfer (excluding GW Reader):

---

| | |
|:---|:---|
| **Assets** |  |
| Investment in subsidiary | $1285 |
| Cash and cash equivalents | 10154 |
| Other current assets | 44280 |
| **Total assets acquired** | 55719 |
| **Liability** |  |
| Due to related parties | $(167408) |
| **Total liability assumed** | (167408) |
| **Net liability recognized** | $(111689) |

---

**10. INCOME TAX**

The loss from operation before income taxes of the Company for the three months ended October 31, 2025 and 2024 were comprised of the following:

---

| | | |
|:---|:---|:---|
|  | **For the three months ended** <br> **October 31** | **For the three months ended** <br> **October 31** |
|  | **2025** | **2024** |
| Tax jurisdictions from: |  |  |
| - Local | $(5701) | $(8401) |
| - Foreign, representing: |  |  |
| &nbsp;&nbsp;&nbsp;Cayman Island | (1334) |  |
| &nbsp;&nbsp;&nbsp;Hong Kong | (104) |  |
| &nbsp;&nbsp;&nbsp;Malaysia | (5297) | - |
| Loss before income taxes | $(12436) | $(8401) |

---

*United States of America*

The Company is registered in the State of Nevada and is subject to the tax laws of the United States of America. As of October 31, 2025, the operations in the United States of America incurred $5,701 of net operating losses (NOL's) which can be carried forward to offset future taxable income, at the tax rate of 21%. The NOL carry forwards begin to expire in 2045, if unutilized. The Company has provided for a full valuation allowance of approximately $1,197 against the deferred tax assets on the expected future tax benefits from the net operating loss carryforwards as the management believes it is more likely than not that these assets will not be realized in the future.

*Cayman Islands*

The Company is incorporated in the Cayman Islands, a jurisdiction that does not impose corporate income taxes, capital gains taxes, or withholding taxes on income derived within or outside of the Cayman Islands. As such, the Company is not subject to income tax in the Cayman Islands.

No provision for income taxes has been made in the accompanying condensed consolidated financial statements, as the Company has no tax obligations in its country of incorporation. Additionally, the Company has not incurred any current or deferred tax liabilities in other jurisdictions as of the reporting date.

*Hong Kong*

Willing Read Culture Technology Co Limited operating in Hong Kong are subject to the Hong Kong Profits Tax at the statutory income tax rate of 8.25% on assessable profits up to HK$2,000,000; and 16.5% on any part of assessable profits over HK$2,000,000.

*Malaysia*

GW Reader Sdn Bhd is governed by the income tax laws of Malaysia and the income tax provision in respect of operations in Malaysia is calculated at the applicable tax rates on the taxable income for the periods based on existing legislation, interpretations and practices in respect thereof. Under the Income Tax Act of Malaysia, enterprises that incorporated in Malaysia are usually subject to a unified 24% enterprise income tax rate while preferential tax rates, tax holidays and even tax exemption may be granted on case-by-case basis. As of October 31, 2025, the operations in the Malaysia incurred $5,297 of cumulative net operating losses which can be carried forward for a maximum period of ten consecutive years to offset future taxable income.

The following table sets forth the significant components of the aggregate deferred tax assets of the Company as of October 31, 2025 and July 31, 2025:

---

| | | |
|:---|:---|:---|
|  | **As of**<br>**October 31, 2025** | **As of**<br>**July 31, 2025** |
| Deferred tax assets: |  |  |
| Net operating loss carryforwards |  |  |
| – United States of America | $1197 | $6955 |
| – Cayman Island |  |  |
| – Hong Kong | 9 |  |
| – Malaysia | 1271 |  |
| Less: valuation allowance | (2477) | (6955) |
| Deferred tax assets | $- | $- |

---

Management believes that it is more likely than not that the deferred tax assets will not be fully realizable in the future. Accordingly, the Company provided for a full valuation allowance against its deferred tax assets of $2,477 as of October 31, 2025.

**11**. **CONCENTRATIONS OF RISK** 

Customer Concentration

For the three months ended October 31, 2025, the Company did not generate any revenue. As a result, there was no customer who accounted for more than 10% of the Company's total revenue. The outstanding accounts receivable as of October 31, 2025 includes balances brought forward from the subsidiary acquired during the period. For the three months ended October 31, 2024, there was one customer who accounted for 100% of the Company's total revenue.

The table below sets forth the customers who accounted for more than 10% of the Company's total revenue.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the three months ended October 31** | **For the three months ended October 31** | **For the three months ended October 31** | **For the three months ended October 31** | **For the three months ended October 31** | **For the three months ended October 31** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  | **Revenue** | **Revenue** | **Percentage of**<br> **Revenue** | **Percentage of**<br> **Revenue** | **Accounts<br> receivable** | **Accounts<br> receivable** |
| Customer A | $- | $4946 | -% | 100% | $39 | $- |
| &nbsp;&nbsp;&nbsp;Total | $- | $4946 | -% | 100% | $39 | $- |

---

Supplier Concentration

For the three months ended October 31, 2025, the Company did not incur any cost of revenues. As a result, there was no supplier who accounted for more than 10% of the Company's total cost of revenue. The Company also did not have any accounts payable to supplier as of October 31, 2025. For the three months ended October 31, 2024, there was one supplier who accounted for 100% of the Company's total cost of revenue.

The table below sets forth the suppliers who accounted for more than 10% of the Company's total cost of revenue.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the three months ended October 31** | **For the three months ended October 31** | **For the three months ended October 31** | **For the three months ended October 31** | **For the three months ended October 31** | **For the three months ended October 31** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  | **Cost of revenue** | **Cost of revenue** | **Percentage of**<br> **Cost of revenue** | **Percentage of**<br> **Cost of revenue** | **Accounts <br> payable** | **Accounts <br> payable** |
| Vendor A | $- | $2438 | -% | 100% | $- | $- |
| &nbsp;&nbsp;&nbsp;Total | $- | $2438 | -% | 100% | $- | $- |

---

**12. SEGMENT REPORTING**

ASC 280 establishes standards for reporting information about operating segments on a basis consistent with the Company's internal organization structure as well as information about services categories, business segments and major customers in financial statements. The Company has two reportable segments based on business unit, apparel and garment trading business and digital publishing business and two reportable segments based on country, China and Malaysia.

In accordance with the "Segment Reporting" Topic of the ASC, the Company's chief operating decision maker has been identified as the Chief Executive Officer and President, who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company. Existing guidance, which is based on a management approach to segment reporting, establishes requirements to report selected segment information quarterly and to report annually entity-wide disclosures about products and services, major customers, and the countries in which the entity holds material assets and reports revenue. All material operating units qualify for aggregation under "Segment Reporting" due to their similar customer base and similarities in economic characteristics; nature of products and services; and procurement, manufacturing and distribution processes.

---

| | | | |
|:---|:---|:---|:---|
| | **For the Three Months Ended and <br> As of October 31, 2025** | **For the Three Months Ended and <br> As of October 31, 2025** | **For the Three Months Ended and <br> As of October 31, 2025** |
| <br>**By Business Unit** | **Apparel & Garment**<br> **Trading Business** | **Digital Publishing Business** | **Total** |
| Revenue | $- | $- | $- |
| Cost of revenue |  |  |  |
| General and administrative expenses | (5701) | (6735) | (12436) |
| Loss from operations | (5701) | (6735) | (12436) |
| Total assets | $297365 | $24968 | $322333 |
| Capital expenditure | $- | $- | $- |

---

---

| | | |
|:---|:---|:---|
| | **For the Three Months Ended and <br> As of October 31, 2024** | **For the Three Months Ended and <br> As of October 31, 2024** |
| <br>**By Business Unit** | **Apparel & Garment**<br> **Trading Business** | **Total** |
| Revenue | $4946 | $4946 |
| Cost of revenue | (2438) | (2438) |
| General and administrative expenses | (10909) | (10909) |
| Loss from operations | (8401) | (8401) |
| Total assets | $26370 | $26370 |
| Capital expenditure | $- | $- |

---

---

| | | | |
|:---|:---|:---|:---|
| | **For the Three Months Ended and <br> As of October 31, 2025** | **For the Three Months Ended and <br> As of October 31, 2025** | **For the Three Months Ended and <br> As of October 31, 2025** |
| <br>**By Country** | **China** | **Non-China** | **Total** |
| Revenue | $- | $- | $- |
| Cost of revenue |  |  |  |
| General and administrative expenses | (5701) | (6735) | (12436) |
| Loss from operations | (5701) | (6735) | (12436) |
| Total assets | $297365 | $24968 | $322333 |
| Capital expenditure | $- | $- | $- |

---

---

| | | |
|:---|:---|:---|
| | **For the Three Months Ended and <br> As of October 31, 2024** | **For the Three Months Ended and <br> As of October 31, 2024** |
| <br>**By Country** | **China** | **Total** |
| Revenue | $4946 | $4946 |
| Cost of revenue | (2438) | (2438) |
| General and administrative expenses | (10909) | (10909) |
| Loss from operations | (8401) | (8401) |
| Total assets | $26370 | $26370 |
| Capital expenditure | $- | $- |

---

**13. SUBSEQUENT EVENTS**

In accordance with ASC 855, *Subsequent Events*, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued, the Company has evaluated all events or transactions that occurred after October 31, 2025 up through the date the Company issued the condensed consolidated financial statements.

**ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS**

*The information contained in this quarter report on Form 10-Q is intended to update the information contained in our Form 10-K dated October 28, 2025, for the year ended July 31, 2025 and presumes that readers have access to, and will have read, the "Management's Discussion and Analysis" and other information contained in such Form 10-K. The following discussion and analysis also should be read together with our condensed consolidated financial statements and the notes to the condensed consolidated financial statements included elsewhere in this Form 10-Q.*

*The following discussion contains certain statements that may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements appear in a number of places in this Report, including, without limitation, "Management's Discussion and Analysis" These statements are not guarantees of future performance and involve risks, uncertainties and requirements that are difficult to predict or are beyond our control. Forward-looking statements speak only as of the date of this quarter report. You should not put undue reliance on any forward-looking statements. We strongly encourage investors to carefully read the factors described in our Form S-1/A registration statement, filed on May 12, 2023, in the section entitled "Risk Factors" for a description of certain risks that could, among other things, cause actual results to differ from these forward-looking statements. We assume no responsibility to update the forward-looking statements contained in this quarter report on Form 10-Q. The following should also be read in conjunction with the unaudited Condensed Consolidated Financial Statements and notes thereto that appear elsewhere in this report.*

**Company Overview** 

We, KEEMO Fashion Group Limited, a Nevada corporation ("the Company") was incorporated under the laws of the State of Nevada on April 22, 2022.

KEEMO Fashion Group Limited is headquartered in Shenzhen, People Republic of China (herein referred as ("China"). We primarily operate in men and women apparel and garment trading business, focusing on wholesaling to distributors mainly based in Asian countries, sourcing directly from manufacturers in China. We do not maintain and operate any production and manufacturing of apparel facility or machine and equipment.

The Company's executive office is located at 69, Wanke Boyu, Xili Liuxin 1<sup>st</sup> Rd, Nanshan District, Shenzhen, Guangdong 518052, China.

KEEMO Fashion Group Limited entered into a Share Purchase Agreement on May 26, 2025, to acquire 100% of GW Reader Holding Limited a Cayman Islands holding company. Through this acquisition, Keemo also obtained indirect ownership of its two subsidiaries: Willing Read Culture Technology Co., Limited in Hong Kong and GW Reader Sdn. Bhd. in Malaysia.

GW Reader Holding Limited and Willing Read Culture Technology Co., Limited are investment holding entities without operating activities. GW Reader Sdn. Bhd., incorporated in Malaysia, operates the Group's content publishing business, focusing on the development and distribution of online novels and related digital content through mobile applications.

The acquisition was completed on September 2, 2025, and KEEMO Fashion Group Limited now holds full ownership of GW Reader Holding Limited and its subsidiaries.

***Results of operations***

**<u>Three months ended October 31, 2025 and 2024</u>**

***Revenues***

For the three months ended October 31, 2025, the Company did not generate any revenue, as there were no sales activities from its two business segments, apparel trading business and digital publishing business.

For the three months ended October 31, 2024, the Company generated revenue in the amount of $4,946. The revenue was generated as a result of the Company apparel and garment trading business.

***General and Administrative Expenses***

For the three months ended October 31, 2025, the Company had general and administrative expenses in the amount of $12,436. These were primarily comprised of audit fees, commission payables, and other professional fees.

For the three months ended October 31, 2024, the Company had general and administrative expenses in the amount of $10,909. These were primarily comprised of audit fees, stock and registrar fees, and other professional fees.

***Net Loss***

For the three months ended October 31, 2025, the Company has incurred a net loss of $12,436.

For the three months ended October 31, 2024, the Company has incurred a net loss of $8,401.

***Cash Balance***

Our cash and cash equivalents are $28,612. Our cash balance is not sufficient to fund our limited levels of operations for any period of time. In order to continue our current business plan and in order to increase our current level of operations for the next twelve-month period, we require further funding.

**Liquidity and Capital Resources**

***Cash Used in Operating Activities***

Net cash used in operating activities was $15,634 for the three months ended October 31, 2025. Cash used in operating activities was attributable to net loss from operation, decrease in other payables and accrued liabilities and deferred revenue contra by decrease in prepayment.

Net cash used in operating activities was $1,280 for the three months ended October 31, 2024. Cash used in operating activities was attributable to net loss from operation, increase in inventory, decrease in other payables and accrued liabilities contra by decrease in accounts receivable, decrease in prepayment and increase in the amount due to our director, Ms. Liu Lu.

***Cash Provided by Investing Activity***

For the three months ended October 31, 2025, the Company generated $29,687 in cash from acquisition of subsidiaries.

For the three months ended October 31, 2024 the Company did not generate nor used any cash in investing activities.

***Cash Provided by Financing Activity***

For the three months ended October 31, 2025, the Company generated $11,293 in cash from advances received from related parties.

For the three months ended October 31, 2024, the Company did not generate nor used any cash in financing activities.

**Critical Accounting Policies**

***Recent accounting pronouncements***

In November 2023, the FASB issued ASU 2023-07 "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures" which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. The ASU 2023-07 is effective for annual reporting periods beginning after December 15, 2023 and interim periods in fiscal years beginning after December 15, 2024, and early adoption is permitted. The Company is currently evaluating the impact of this ASU may have on its condensed consolidated financial statements and related disclosures.

In December 2023, the FASB issued ASU 2023-09 "Income Taxes (Topic 740): Improvements to Income Tax Disclosures" to expand the disclosure requirements for income taxes, specifically related to the rate reconciliation and income taxes paid. The ASU 2023-09 is effective for annual reporting periods beginning after December 15, 2024, and early adoption is permitted. The Company is currently evaluating the impact of this ASU may have on its condensed consolidated financial statements and related disclosures.

In November 2024, the FASB issued ASU 2024-03 "Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) Disaggregation of Income Statement Expenses". The guidance in ASU 2024-03 requires public business entities to disclose in the notes to the financial statements, among other things, specific information about certain costs and expenses including purchases of inventory; employee compensation; and depreciation, amortization and depletion expenses for each caption on the income statement where such expenses are included. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted, and the amendments may be applied prospectively to reporting periods after the effective date or retrospectively to all periods presented in the financial statements. The Company is currently evaluating the provisions of this guidance and assessing the potential impact on the Company's financial statement disclosures.

In March 2025, the FASB issued ASU 2025-02, "Liabilities (Topic 405): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 122", which removes certain SEC guidance related to obligations to safeguard crypto-assets. The Company does not engage in activities involving crypto-assets; therefore, the adoption of this ASU is not expected to have a material impact on its financial statements.

In May 2025, the FASB issued ASU 2025-04, "Compensation—Stock Compensation (Topic 718) and Revenue from Contracts with Customers (Topic 606): Clarifications to Share-Based Consideration Payable to a Customer", which amends ASC 718 and ASC 606 to (i) expand the definition of a performance condition to include vesting tied to a customer's own purchases or the purchases of the customer's customers, (ii) require entities to estimate expected forfeitures, and (iii) clarify that the variable consideration guidance in ASC 606 does not apply to share-based consideration payable to a customer. The amendments are effective for annual and interim periods beginning after December 15, 2026, with early adoption permitted. We are currently evaluating the impact of this guidance on our condensed consolidated financial statements.

**ITEM 3 QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.**

As a "smaller reporting company" as defined by Item 10 of Regulation S-K, the Company is not required to provide information required by this Item.

**ITEM 4 CONTROLS AND PROCEDURES.**

**<u>Disclosure Controls and Procedures</u>**

We maintain disclosure controls and procedures, as defined in Rule 13a-15(e) promulgated under the Securities Exchange Act of 1934 (the "Exchange Act"), that are designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms and that such information is accumulated and communicated to our management, including our principal executive and principal financial officers, or persons performing similar functions, as appropriate, to allow timely decisions regarding required disclosure.

We carried out an evaluation, under the supervision and with the participation of our management, including our chief executive officer, of the effectiveness of our disclosure controls and procedures as of October 31, 2025. Based on the evaluation of these disclosure controls and procedures, and in light of the material weaknesses found in our internal controls over financial reporting, our chief executive officer concluded that our disclosure controls and procedures were not effective. The matters involving internal controls and procedures that our management considered to be material weaknesses under the standards of the Public Company Accounting Oversight Board were: (i) lack of a functioning audit committee due to a lack of a majority of independent members and a lack of a majority of outside directors on our board of directors, resulting in ineffective oversight in the establishment and monitoring of required internal controls and procedures; (ii) inadequate segregation of duties and effective risk assessment; and (iii) insufficient written policies and procedures for accounting and financial reporting with respect to the requirements and application of both US GAAP and SEC guidelines. The aforementioned material weaknesses were identified by our chief executive officer in connection with the review of our financial statements as of October 31, 2025.

**<u>Management's Report on Internal Control over Financial Reporting</u>**

Our management is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act. Our internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. The internal controls for the Company are provided by executive management's review and approval of all transactions. Our internal control over financial reporting also includes those policies and procedures that:

&nbsp;&nbsp;&nbsp;&nbsp;1. pertain
 to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of our assets;

2. provide
 reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with
 U.S. GAAP, and that our receipts and expenditures are being made only in accordance with the authorization of our management; and

3. provide
 reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of our assets that
 could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Management assessed the effectiveness of the Company's internal control over financial reporting as of October 31, 2025. In making this assessment, management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission in Internal Control-Integrated Framework. Management's assessment included an evaluation of the design of our internal control over financial reporting and testing of the operational effectiveness of these controls.

As of October 31, 2025, management assessed the effectiveness of our internal control over financial reporting based on the criteria for effective internal control over financial reporting established in Internal Control — Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission ("COSO") in 2013 and SEC guidance on conducting such assessments. Based on such evaluation, the Company's management concluded that, during the period covered by this Report, our internal control over financial reporting were not effective due to the presence of material weaknesses.

**<u>Changes in Internal Control over Financial Reporting:</u>**

There were no changes in our internal control over financial reporting during the three months ended October 31, 2025, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

**PART II — OTHER INFORMATION**

**ITEM 1. LEGAL PROCEEDINGS**

We are not subjected to nor engaged in any litigation, arbitration or claim of material importance, and no litigation, arbitration or claim of material importance is known to us to be pending or threatened by or against our Company that would have a material adverse effect on our Company's results of operations or financial condition. Further, there are no proceedings in which any of our directors, officers or affiliates, or any beneficial shareholder are an adverse party or has a material interest adverse to our Company.

**ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS**

None.

**ITEM 3. DEFAULTS UPON SENIOR SECURITIES**

None.

**ITEM 4. MINE SAFETY DISCLOSURES**

Not applicable.

**ITEM 5. OTHER INFORMATION**

None.

**ITEM 6. EXHIBITS**

---

| | |
|:---|:---|
| 31.1 | [Rule 13(a)-14(a)/15(d)-14(a) Certification of principal executive officer](ex31-1.htm) |
| 32.1 | [Section 1350 Certification of principal executive officer](ex32-1.htm) |
| 101.INS | Inline XBRL Instance Document\* |
| 101.SCH | Inline XBRL Schema Document\* |
| 101.CAL | Inline XBRL Calculation Linkbase Document\* |
| 101.DEF | Inline XBRL Definition Linkbase Document\* |
| 101.LAB | Inline XBRL Label Linkbase Document\* |
| 101.PRE | Inline XBRL Presentation Linkbase Document\* |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

**<u>SIGNATURES</u>**

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **Keemo Fashion Group Limited** | **Keemo Fashion Group Limited** |
|  | (Name of Registrant) | (Name of Registrant) |
| Date: December 12, 2025 |  |  |
|  | By: | ***/s/ LIU LU*** |
|  |  | Liu Lu |
|  | Title: | Chief Executive Officer, President, Secretary, Treasurer, Director |
|  |  | (Principal Executive Officer, Principal Financial Officer, Principal Accounting Officer) |

---

## Ex-31

**EXHIBIT 31.1**

**CERTIFICATION**

I, LIU LU, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Keemo Fashion Group Limited (the "Company") for the quarter ended October 31, 2025;

2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Designed
 such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision,
 to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others
 within those entities, particularly during the period in which this report is being prepared;

b. Designed
 such internal control over financial reporting, or caused such internal control to be designed under our supervision, to provide
 reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes
 in accordance with generally accepted accounting principles.

c. Evaluated
 the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about
 the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;
 and

d. Disclosed
 in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's
 most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected,
 or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. All
 significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are
 reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information;
 and

b. Any
 fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's
 internal control over financial reporting.

---

| | | |
|:---|:---|:---|
| Date: December 12, 2025 | By: | */s/ LIU LU* |
|  |  | Liu Lu |
|  |  | Chief Executive Officer, President, Secretary, Treasurer, Director |
|  |  | (Principal Executive Officer, Principal Financial Officer, Principal Accounting Officer) |

---

## Exhibit 32.1

**EXHIBIT 32.1**

**CERTIFICATION**

**PURSUANT TO 18**

**U.S.C. SECTION 1350, AS ADOPTED**

**PURSUANT TO**

**SECTION 906 OF THE SARBANES-OXLEY**

**ACT OF 2002**

In connection with the quarterly report of Keemo Fashion Group Limited (the "Company") on Form 10-Q for the period ended October 31, 2025 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), The undersigned hereby certifies, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge and belief:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The
 Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The
 information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of
 the Company.

---

| | | |
|:---|:---|:---|
| Date: December 12, 2025 | By: | */s/ LIU LU* |
|  |  | Liu Lu |
|  |  | Chief Executive Officer, President, Secretary, Treasurer, Director |
|  |  | (Principal Executive Officer, Principal Financial Officer, Principal Accounting Officer) |

---

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.