# EDGAR Filing Document

**Accession Number:** 0001897525
**File Stem:** 0001829126-26-006016
**Filing Date:** 2026-6
**Character Count:** 110272
**Document Hash:** 6377cd48a1996a48236acb119a296a7c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001829126-26-006016.hdr.sgml**: 20260603

**ACCESSION NUMBER**: 0001829126-26-006016

**CONFORMED SUBMISSION TYPE**: 10-K

**PUBLIC DOCUMENT COUNT**: 66

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260603

**DATE AS OF CHANGE**: 20260603

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** KB Global Holdings Ltd
- **CENTRAL INDEX KEY:** 0001897525
- **STANDARD INDUSTRIAL CLASSIFICATION:** INVESTMENT ADVICE [6282]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** 10-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-56592
- **FILM NUMBER:** 261061753

**BUSINESS ADDRESS:**
- **STREET 1:** 206 SAINT ANDREW'S CT
- **CITY:** BLUE BELL
- **STATE:** PA
- **ZIP:** 19422
- **BUSINESS PHONE:** 610-607-7969

**MAIL ADDRESS:**
- **STREET 1:** 206 SAINT ANDREW'S CT
- **CITY:** BLUE BELL
- **STATE:** PA
- **ZIP:** 19422

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

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**Form 10-K**

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

For the fiscal year ended December 31, 2025

0-56592

Commission File Number

**KB Global Holdings Limited**

**(Exact name of Registrant as specified in its charter)**

---

| | |
|:---|:---|
| **Cayman Islands** | **Not applicable** |
| **(State or other jurisdiction of<br> incorporation or organization)** | **(I.R.S. Employer<br> Identification No.)** |

---

**No 3 Building of No 1 Jiali Construction Plaza FL 13, No.4<sup>th</sup> Central Road** **, Futian, Shenzhen** 

**Guangdong Province, 518000, People's Republic of China**

**Tel: (86) 0755-832-0145** 

**(Address, including zip code, and telephone number, including area code, of Registrant's principal executive offices)**

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

None

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

Ordinary Shares

Indicate by check mark if the Company is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒

Indicate by check mark if the Company is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒

Indicate by check mark whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the Company 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 Company 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 (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Company was required to submit and post such files). Yes ☒ No ☐

Indicate by check mark whether the Company is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See 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 ☐ <br> 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 has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☐

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

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

The aggregate market value of voting stock held by non-affiliates of the Company as of the last business day of the Company's most recently complete second fiscal quarter cannot be calculated as there is no trading market for the Company's ordinary shares.

As of June 3, 2026, 130,097,000 shares of the issuer's common stock were issued and outstanding.

Documents Incorporated By Reference: None

**KB Global Holdings Limited**

**Form 10-K**

**For the Fiscal Year Ended December 31, 2025**

**TABLE OF CONTENTS**

---

| | | |
|:---|:---|:---|
|  |  | **Page** |
| [**Part I**](#a_001) | [**Part I**](#a_001) | [**Part I**](#a_001) |
| [Item 1.](#a_002) | [Business](#a_002) | 1 |
| [Item 1A.](#a_003) | [Risk Factors](#a_003) | 3 |
| [Item 1B.](#a_004) | [Unresolved Staff Comments](#a_004) | 3 |
| [Item 1C.](#a_005) | [Cybersecurity](#a_005) | 3 |
| [Item 2.](#a_006) | [Properties](#a_006) | 3 |
| [Item 3.](#a_007) | [Legal Proceedings](#a_007) | 4 |
| [Item 4.](#a_008) | [Mine Safety Disclosures](#a_008) | 4 |
| [**Part II**](#a_009) | [**Part II**](#a_009) | [**Part II**](#a_009) |
| [Item 5.](#a_010) | [Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](#a_010) | 5 |
| [Item 6.](#a_011) | [Reserved](#a_011) | 5 |
| [Item 7.](#a_012) | [Management's Discussion and Analysis of Financial Condition and Results of Operations](#a_012) | 6 |
| [Item 7A.](#a_013) | [Quantitative and Qualitative Disclosures about Market Risk](#a_013) | 10 |
| [Item 8.](#a_014) | [Financial Statements](#a_014) | 11 |
| [Item 9.](#a_015) | [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](#a_015) | 11 |
| [Item 9A.](#a_016) | [Controls and Procedures](#a_016) | 11 |
| [Item 9B.](#a_017) | [Other Information](#a_017) | 12 |
| [Item 9C.](#a_018) | [Disclosures Regarding Foreign Jurisdictions that Prevent Inspections](#a_018) | 12 |
| [**Part III**](#a_019) | [**Part III**](#a_019) | [**Part III**](#a_019) |
| [Item 10.](#a_020) | [Directors, Executive Officers and Corporate Governance](#a_020) | 13 |
| [Item 11.](#a_021) | [Executive Compensation](#a_021) | 14 |
| [Item 12.](#a_022) | [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](#a_022) | 15 |
| [Item 13.](#a_023) | [Certain Relationships and Director Independence](#a_023) | 16 |
| [Item 14.](#a_024) | [Principal Accountant Fees and Services](#a_024) | 16 |
| [**Part IV**](#a_025) | [**Part IV**](#a_025) | [**Part IV**](#a_025) |
| [Item 15.](#a_026) | [Exhibits and Financial Statement Schedules](#a_026) | 17 |
| [Item 16.](#a_027) | [Form 10-K Summary](#a_027) | 17 |

---

i

**Cautionary Statement Regarding Forward-Looking Statements**

This report contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements discuss matters that are not historical facts. Because they discuss future events or conditions, forward-looking statements may include words such as "anticipate," "believe," "estimate," "intend," "could," "should," "would," "may," "seek," "plan," "might," "will," "expect," "anticipate," "predict," "project," "forecast," "potential," "continue" negatives thereof or similar expressions. Forward-looking statements speak only as of the date they are made, are based on various underlying assumptions and current expectations about the future and are not guarantees. Such statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, level of activity, performance or achievement to be materially different from the results of operations or plans expressed or implied by such forward-looking statements.

We cannot predict all the risks and uncertainties that may impact our business, financial condition or results of operations. Accordingly, the forward-looking statements in this prospectus should not be regarded as representations that the results or conditions described in such statements will occur or that our objectives and plans will be achieved, and we do not assume any responsibility for the accuracy or completeness of any of these forward-looking statements. These forward-looking statements are found at various places throughout this report and include information concerning possible or projected future results of our operations, including statements about potential acquisition or merger targets, strategies or plans; business strategies; prospects; future cash flows; financing plans; plans and objectives of management; any other statements regarding future acquisitions, future cash needs, future operations, business plans and future financial results; and any other statements that are not historical facts.

Many of those risks and factors are outside of our control and could cause actual results to differ materially from the results expressed or implied by those forward-looking statements. Considering these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than we have described. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this prospectus. All subsequent written and oral forward-looking statements concerning other matters addressed in this prospectus and attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this prospectus.

Except to the extent required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, a change in events, conditions, circumstances or assumptions underlying such statements, or otherwise.

ii

**Part I**

**Item** **1. BUSINESS**

**<u>Overview</u>**

KB Global Holdings Limited ("KB Global"), through a wholly-owned Hong Kong subsidiary, owns all of the equity in a wholly foreign-owned enterprise organized in the People's Republic of China ("PRC") under the name Suzhou Keju Enterprise Management Consulting Limited (the "WFOE"). The WFOE is party to an agreement (the "VIE Agreements") that gives the WFOE substantial control over the operations of a PRC limited company named Beijing Kezhao Technology Co., Ltd. ("BJKZ"), in exchange for which the WFOE is entitled to receive a fee determined by the WFOE, which will represent substantially all of the net income of BJKZ. As a result of the VIE Agreement, KB Global is required by U.S. generally accepted accounting principles to consolidate in the financial statements included in this Report BJKZ's accounts and financial results.

KB Global Holdings Limited is an emerging high-tech enterprise focused on enterprise-grade digital transformation solutions. Since completing its first commercial software delivery in 2024, the Company has shifted from development phase to active market engagement.

BJKZ was organized in the PRC in August 2018 to provide information technology development and consulting services. Since that time BJKZ has developed a proprietary Enterprise Digital Management System Integration platform, which integrates five core modules: Enterprise Collaboration, Project Management, CRM, ERP, and Financial Data Analysis. This product is designed to serve industrial clients seeking to unify and modernize their operational infrastructure.

The successful delivery of a customized version of this platform to a related party in 2024 validated the Company's technical capabilities and go-to-market model. Management is now pursuing third-party contracts, leveraging referenceable work and a low-cost development structure in China.

Our Enterprise Digital Management System Integration will provide industrial clients with an enterprise level information management system integrating the following company-wide operations with components as chosen by the customer:

● **Enterprise Collaboration System**: Enhancing internal communication and collaboration among employees within the organization. Components may include real-time messaging, file sharing, document collaboration, task assignment and team calendars.

● **Project Management System**: Providing robust tools for planning, tracking and managing projects efficiently. Components may include capabilities for project planning, task scheduling, resource allocation, progress tracking, risk management and reporting.

● **Customer Relationship Management (CRM) System**: Streamlining interactions with current and potential clients to foster improved business relationships. Components may include modules for lead management, contact management, sales pipeline tracking, customer support ticketing and analytics.

● **Enterprise Resource Planning (ERP) System**: Integrating essential business processes such as finance, human resources, procurement and supply chain management into a unified system. Components may include modules for accounting, inventory management, human resources, procurement, supply chain management and reporting.

● **Financial Data Analysis System**: Offering analytical tools to support informed decision-making. Components may include tools for data visualization, trend analysis, forecasting, budgeting, financial modeling and custom reporting.

**<u>Business Strategies</u>**

In September 2023 BJKZ entered into its first development agreement, in which it contracted that within one year it would provide its customer, Beijing Kabeilongteng Investment Center, with a made-to-order Enterprise Digital Management System Integration configured to function on Beijing Kabeilongteng's server. The contract provided that, as the software was made to the order of Beijing Kabeilongteng, that entity would own and register the copyright on the resulting product. The contract price was RMB 1,304,582 (U.S. $180,715), payable 80% in advance, 10% on completion and 10% one year after acceptance of the software. KB Global recorded U.S. $179,613 in revenue from the contract during the first quarter of 2024. The Company has not completed any subsequent sales but is focused on further developing its software products.

BJKZ's plan is focused on expanding the market for its Enterprise Digital Management System Integration. In parallel, BJKZ intends to commit resources to development of a capacity for high-end material manufacturing that we envision as seamlessly integrated with our software development endeavors. By leveraging advanced materials and cutting-edge technologies, we hope to not only drive innovation within the manufacturing industry but also enhance our software solutions with state-of-the-art components and capabilities.

This strategic synergy between software development and high-end material manufacturing should allow us to offer comprehensive solutions that boost operational efficiency and drive technological advancement. Our goal is to position ourselves as leaders in both industries through continuous innovation and strategic integration of diverse technological domains.

We aspire to become one of the most trusted high-tech driven brands among China's population. To achieve this goal, in addition to relying on our existing strengths, we intend to pursue the following strategies:

● **Expand customer acquisition beyond related parties** – The Company is actively marketing its platform to small and mid-sized industrial enterprises in China.

● **Build recurring revenue stream** – BJKZ intends to explore subscription-based delivery models to generate predictable, recurring income, subject to obtaining sufficient resources.

● **Leverage successful delivery as reference** – The completed contract with Beijing Cabelongteng serves as a technical and operational reference for prospective third-party customers.

● **Control costs while scaling** – The Company continues to benefit from low-cost office arrangements, deferred executive compensation, and a lean team, allowing it to preserve capital for targeted development and sales efforts.

● **Explore strategic partnerships** – BJKZ intends to engage with regional technology integrators with a view to co-marketing its solutions.

**<u>Our Competitive Strengths</u>**

We believe that the following competitive strengths will contribute to our success and ongoing growth:

● Proven ability to deliver a complex, multi-module enterprise system on a fixed-price contract.

● Low-cost development center in Beijing with experienced technical leadership.

● Agile, focused team allowing rapid iteration and customization.

● Foundational VIE structure already established, reducing regulatory friction for revenue generation

**<u>Risk Control Procedures</u>**

The Company has set up a risk management and control division and a risk control system that covers every link of the business and allows the group to have real-time updates of credit risks, market risks, operational risks and reputational risks commonly seen in the industry, and based on regulatory requirements, business rules and regulations, to conduct compliance evaluation of products and projects and implement strict scrutiny, putting risk control measures in place during product innovation and later-stage management in terms of business requirements and technological realization.

**<u>IT Infrastructure</u>**

We intend to use OA, CRM, and Wealth Cloud as the IT infrastructure to sell our products. IT infrastructure is an important component of our business operations, which supports our client relationship management and product research and development. We plan to continue to invest in our IT infrastructure by adding new features and functionalities and by improving existing software and IT modules. We expect that our improved IT infrastructure and more advanced platform will enable us to scale up our business and maintain consistent service quality as we further expand our coverage network and client base. Since 2023, BJKZ has expanded its existing operational experience in software development, leading to the creation of an Enterprise Digital Management System Integration aimed at revolutionizing how businesses manage their operations.

**ITEM 1A. RISK FACTORS**

As a smaller reporting company, we are not required to provide a comprehensive statement of risk factors. However, the following concise summary is provided for investor transparency:

The Company is an early-stage enterprise software company with limited revenue history. Future performance depends on successfully acquiring third-party customers, developing recurring revenue models, and maintaining insider financial support. No material legal, regulatory, or operational events have impaired the Company's ability to execute its business plan.

**ITEM 1B. UNRESOLVED STAFF COMMENTS**

As of the date of this report, we have no unresolved comments from the SEC staff regarding our periodic or current reports under the Exchange Act.

**ITEM 1C. CYBERSECURITY**

We are committed to safeguarding our information systems and data from potential cyber threats. Our cybersecurity measures include comprehensive policies, continuous monitoring, regular security assessments, and employee training programs to mitigate risks and enhance our defenses against cyber incidents. We have not experienced any material cybersecurity breaches to date.

**ITEM 2. PROPERTIES**

The principal executive offices of KB Global and its WFOE are located at No. 3 Building of No. 1 Jiali Construction Plaza FL 13, No. 4th Central Road, Futian, Shenzhen, Guangdong Province, 518000, People's Republic of China. This facility is leased and serves as the central hub for our administrative and operational activities. We believe our current facilities are adequate to meet our present needs and that suitable additional or alternative space will be available as required.

The operations of BJKZ are carried out at 191 Second Floor, Block B, Building 1, No. 2 Yongcheng North Road, Beijing. BJKZ pays RMB8,000 (U.S. $1,108) per year to lease the facility. The facility is located in an industrial development zone, providing low rents and tax benefits to high tech enterprises such as BJKZ. We believe these current facilities are adequate to meet BJKZ's present needs and that suitable additional or alternative space will be available as required.

**ITEM 3. LEGAL PROCEEDINGS**

We are not currently involved in any material legal proceedings. From time to time, we may be involved in litigation and claims incidental to the conduct of our business. 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 us.

**ITEM 4. MINE SAFETY DISCLOSURE**

Not applicable. We do not engage in mining operations or related activities and, therefore, are not subject to mine safety regulations under the Federal Mine Safety and Health Act of 1977 and its subsequent regulations.

**Part II**

**ITEM 5. MARKET FOR THE REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES**

**Market Information**

Our Ordinary Shares are currently not quoted. There is currently no trading market for our Ordinary Shares and there is no assurance that a regular trading market will ever develop.

**Holders**

As of June 2, 2026, there were approximately 51 holders of record of our Ordinary Shares.

**Dividends**

To date, we have not paid dividends on our Ordinary Shares and we do not expect to declare or pay dividends on our Ordinary Shares in the foreseeable future. The payment of any dividends will depend upon our future earnings, if any, our financial condition, and other factors deemed relevant by our Board.

**Securities Authorized for Issuance under Equity Compensation Plans**

We have no existing equity compensation plan.

**Recent Sales of Unregistered Securities; Use of Proceeds from Sale of Registered Securities**

None.

**Rule 10b-18 Transactions**

During the year ended December 31, 2025, neither the Company nor any affiliated purchaser of the Company, purchased any equity securities of the Company that are registered pursuant to Section 12 of the Exchange Act.

**ITEM 6. RESERVED**

**ITEM 7.** **MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS**

**Overview**

KB Global Holdings Limited ("Company") is a Cayman Islands limited company. Its subsidiary, the WFOE, has a contractual right to control the operations of BKJZ in the PRC. BKJZ is a high-tech driven management company based in China, committed to becoming one of the most trusted brands in the nation. Our strategic vision is anchored in leveraging our existing strengths to achieve sustainable growth and innovation in our operations.

The Company generated its first revenue in 2024 and completed a full software delivery cycle. While 2025 was a transition year with no revenue, management views this period as **strategic preparation** for scaling customer acquisition. Key foundational steps completed include:

● Delivery and acceptance of a fully functional enterprise software system.

● Establishment of internal development and project management processes.

● Identification of target customer segments and initial outreach.

**Results of Operations**

Revenue was $0 in 2025 compared to $179,613 in 2024. The 2024 revenue represented the Company's first completed software delivery, validating its technical and operational capabilities. The absence of revenue in 2025 reflects the lumpy, project-based nature of enterprise software sales, not a loss of capability or market relevance. Management is actively bidding on multiple opportunities expected to close in 2026.

**Operating Expenses**

Operating expenses decreased 16% year-over-year, from $133,595 to $112,059, demonstrating the Company's ability to control costs during non-revenue periods. This reduction was achieved through disciplined spending and continued deferral of executive compensation.

**Liquidity and Going Concern**

While the Company reported a net loss of $112,059 and low cash reserve of $715 as of December 31, 2025, it continues to rely on ongoing financial support from its CEO, Ms. Guo Li, who increased her advances to $198,977 during 2025.

Management believes this support, combined with active sales efforts and tight cost controls, provides a bridge to revenue-generating contracts in 2026. The Company is not dependent on external debt or capital markets for near-term survival, reducing refinancing risk.

**Strategic Outlook**

Looking forward, BJKZ plans to:

&nbsp;&nbsp;&nbsp;&nbsp;1. **Convert current sales pipeline** – Several potential customers have expressed interest in demonstrations of the Enterprise Digital Management System.

&nbsp;&nbsp;&nbsp;&nbsp;2. **Launch a lightweight SaaS version** – A simplified, lower-cost version of the platform is under consideration for 2026, targeting smaller enterprises.

&nbsp;&nbsp;&nbsp;&nbsp;3. **Seek non-dilutive development grants** – As a technology company operating in a Beijing development zone, BJKZ may qualify for local government subsidies or tax benefits.

**<u>Basis of Accounting</u>**

The accompanying consolidated financial statements (referred to hereafter as the "financial statements") have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP").

All intercompany transactions and balances have been eliminated.

**<u>Results of Operations</u>**

The Company has been primarily involved in developing its enterprise software products. The Company did not generate any revenue during the year ended December 31, 2025. During the prior year, the Company completed a single sale of an enterprise software package to an affiliate, which accounted for 100% of the revenue reported for the year ended December 31, 2024.

The following table sets forth a summary of our consolidated results of operations for the years ended December 31, 2025 and 2024. This information should be read together with our consolidated financial statements and related notes included elsewhere in this annual report. The results of operations in any period are not necessarily indicative of our future trends.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the<br>Years Ended<br>December 31,** | **For the<br>Years Ended<br>December 31,** | **Changes in** | **Changes in** |
|  | **2025** | **2024** | **Amount** | **Percentage** |
| **Revenue** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Software development service – related party | $- | $179613 | $(179613) | N/A |
| **Cost of sales** | - | (148879) | 148879 | N/A |
| **Gross profit** |  | 30734 | (30734) | N/A |
| Operating expenses | (112059) | (133595) | 21536 | (16.12) |
| **Loss from operations** | (112059) | (102861) | (9198) | 8.94 |
| Other income | 10 | 28640 | (28630) | (99.97) |
| **Loss before income tax** | (112049) | (74221) | (37828) | 50.97 |
| Income tax expense |  |  |  | N/A |
| **Net loss** | $(112049) | $(74221) | $(37828) | 50.97 |
| **Other comprehensive loss** |  |  |  |  |
| Foreign currency translation adjustments | 1043 | (1350) | 2393 | (177.26) |
| **Comprehensive loss** | $(111006) | $(75571) | $(35435) | 46.89 |
| **Basic and diluted earnings per ordinary share** | - | - | - | N/A |
| **Basic and diluted weighted average ordinary shares outstanding** | 130097000 | 130097000 | - | N/A |

---

**Financial Position and Performance**

Assets: Our total assets increased from $50,317 in 2024 to $69,686 in 2025, an increase of $19,369 or 38.49%. The increase was primarily due to advances of $45,604 made to related parties (Shenzhen Jiecheng and Sichuan Chuanghe), partially offset by a decrease in cash and cash equivalents from $3,253 to $715 and the impairment in full of the $17,872 account receivable from Beijing Cabelongteng during the year.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the<br>Years Ended<br>December 31,** | **For the<br>Years Ended<br>December 31,** | **Changes in** | **Changes in** |
|  | **2025** | **2024** | **Amount** | **Percentage** |
| **ASSETS** |  |  |  |  |
| **Non-current assets** |  |  |  |  |
| Computer equipment | $22227 | $28096 | $(5869) | (20.89) |
| Total non**-**current assets | 22227 | 28096 | (5869) | (20.89) |
| **Current assets** |  |  |  |  |
| Account receivables |  | 17872 | (17872) | N/A |
| Other receivables | 1140 | 1096 | 44 | 4.01 |
| Amounts due from a related party | 45604 |  | 45604 | N/A |
| Cash and cash equivalents | 715 | 3253 | (2538) | (78.02) |
| Total current assets | 47459 | 22221 | 25238 | 113.58 |
| **Total assets** | $**69686** | $**50317** | $**19369** | **38.49** |

---

PROPERTY AND EQUIPMENT: In 2023, the Company invested $36,114 in computer devices to support our software development capabilities as property and equipment. After recording depreciation of that equipment during 2025, the book value at December 31, 2025 was $22,227.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the<br>Years Ended<br>December 31,** | **For the<br>Years Ended<br>December 31,** | **Changes in** | **Changes in** |
|  | **2025** | **2024** | **Amount** | **Percentage** |
| **ASSETS** |  |  |  |  |
| **Non-current assets** |  |  |  |  |
| Computer equipment | $22227 | $28096 | $(5869) | (20.89) |
| Total non**-**current assets | $22227 | $28096 | $(5869) | (20.89) |

---

Cash Position: Our cash and cash equivalents was reduced significantly to $715 during 2025, underpinning our need to secure external investment to support ongoing business operations.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the<br>Years Ended<br>December 31,** | **For the<br>Years Ended<br>December 31,** | **Changes in** | **Changes in** |
|  | **2025** | **2024** | **Amount** | **Percentage** |
| Cash and cash equivalents | $715 | $3253 | $(2538) | (78.02) |

---

**Liabilities and Shareholders' Equity**

Liabilities: Our total liabilities increased from $320,971 in 2024 to $451,346 in 2025, an increase of $130,375 or 40.62%. The increase was primarily due to a significant increase in the amount due to a related party (Ms. Guo Li) from $23,661 to $198,977, partially offset by a decrease in accruals and other current payables from $294,934 to $249,898.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the<br>Years Ended<br>December 31,** | **For the<br>Years Ended<br>December 31,** | **Changes in** | **Changes in** |
|  | **2025** | **2024** | **Amount** | **Percentage** |
| **LIABILITIES AND SHAREHOLDERS' DEFICIT** |  |  |  |  |
| **Current liabilities** |  |  |  |  |
| Accruals and other current payables | $249898 | $294934 | $(45036) | (15.27) |
| Tax payable | 2471 | 2376 | 95 | 4.00 |
| Amount due to a related party | 198977 | 23661 | 175316 | 740.95 |
| Total current liabilities | 451346 | 320971 | 130375 | 40.62 |
| **Total liabilities** | $**451346** | $**320971** | $**130375** | **40.62** |
| **Shareholders' equity** |  |  |  |  |
| Ordinary shares, $0.00001 par value; 500,000,000 shares authorized; 130,097,000 and 130,097,000 were shares issued and outstanding at December 31, 2025 and 2024, respectively. | 1301 | 1301 |  | 0.00 |
| Additional paid-in capital | 96999 | 96999 |  | 0.00 |
| Accumulated deficit | (478465) | (366416) | (112049) | 30.58 |
| Accumulated other comprehensive loss | (1495) | (2538) | 1043 | (41.10) |
| **Total shareholders' deficit** | (381660) | (270654) | (111006) | 41.01 |
| **Total liabilities and shareholders' equity** | $**69686** | $**50317** | $**19369** | **38.49** |

---

**Shareholders' Equity**: In January and February 2023, the Company sold 97,000 ordinary shares at a purchase price of $1.00 per share. The issuance of 97,000 IPO shares raised $97,000, enhancing our financial flexibility to fuel future growth.

**Revenue and Operations**

The Company did not generate any revenue during the year ended December 31, 2025. Revenue for the year ended December 31, 2024 was derived entirely from the sale of an enterprise software system to a related party, Beijing Cabelongteng Investment Center (Limited Partnership), in the amount of $179,613, against which cost of sales of $148,879 was charged. The sale represented the delivery of an "Enterprise Digital Management System Integration" developed by the Company for that customer.

**Net Loss and Cost Management**

Our net loss increased by $37,828, from $74,221 in 2024 to $112,049 in 2025. The increase in net loss was attributable primarily to (i) the absence of any revenue and gross profit during 2025, compared with gross profit of $30,734 generated in 2024 from the sale of the enterprise software system; and (ii) the recognition of an impairment loss of $18,149 in respect of the accounts receivable from Beijing Cabelongteng Investment Center (Limited Partnership), which became no longer recoverable during 2025. These adverse movements were partially offset by a $26,536 reduction in operating expenses, principally a reduction in professional fees and staff costs.

**Taxation**

Our company, subsidiaries, and consolidated VIE file tax returns separately in their respective jurisdictions:

Cayman Islands: No taxes levied on profits, income, or dividends.

Hong Kong: Kesheng HK is subject to a 16.5% corporate income tax rate.

PRC: WFOE and VIE are subject to a 25% statutory income tax rate, with a 10% withholding tax on dividends to foreign holding companies, potentially reduced to 5% under certain conditions.

**Risk Management**

We recognize the inherent risks in our operations, such as market volatility and regulatory shifts. Our dedicated management team remains committed to proactive risk assessment and mitigation strategies to safeguard our business interests.

**Going Concern**

As of December 31, 2025, the Company had cash and cash equivalents of $715, a working capital deficit of $403,887, an accumulated deficit of $478,465, and a shareholders' deficit of $381,660. The Company generated no revenue during the year ended December 31, 2025 and incurred a net loss of $112,049. These conditions raise substantial doubt about the Company's ability to continue as a going concern within one year after the date these financial statements are issued.

Management has evaluated these conditions and concluded that its plans alleviate the substantial doubt. These plans include: (i) continued financial support from Ms. Guo Li, the Company's director and CEO, who has confirmed her intention to provide such support for at least twelve months from the date the financial statements are issued; (ii) active pursuit of additional software development engagements; and (iii) continued deferral of executive compensation and tight control over operating expenses. Reference is made to Note 2 to the consolidated financial statements for further details.

**Critical Accounting Policies**

The preparation of our consolidated financial statements in accordance with GAAP requires our management to make estimates and judgments that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities, and reported amounts of fees, expenses and investment income. Our management bases these estimates and judgments on available information, historical experience and other assumptions that we believe are reasonable under the circumstances. However, these estimates, judgments and assumptions are often subjective and may be impacted negatively based on changing circumstances or changes in our analyses. If actual amounts are ultimately different from those estimated, judged or assumed, revisions are included in the consolidated financial statements in the period in which the actual amounts become known. We believe our critical accounting policies could potentially produce materially different results if we were to change underlying estimates, judgments or assumptions.

During preparation of our financial statements for the year ended December 31, 2025, there was no accounting estimate we made that was subject to a high degree of uncertainty and was critical to our results.

**Recent Accounting Developments**

For a full discussion of recently issued accounting pronouncements, please see the notes to the consolidated financial statements Note 2.

**ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK**

We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information under this item.

**ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA**

The information required by this Item is incorporated herein by reference to the consolidated financial statements and supplementary data set forth in Item 15. Exhibits and Financial Statement Schedules of Part IV of this Annual Report.

**ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS AND FINANCIAL DISCLOSURE**

Except as reported in a current report on Form 8-K filed by the Company, there have been no changes in or disagreements with our accountants on accounting and financial disclosure matters.

**ITEM 9A. CONTROLS AND PROCEDURES**

**Disclosure Controls and Procedures**

We maintain disclosure controls and procedures, as defined in Rule 13a-15(e) and Rule 15d-15(e) under the Exchange Act. These are designed to ensure that information required to be disclosed in our SEC reports is recorded, processed, summarized, and reported within the specified timeframes. These controls also ensure that such information is accumulated and communicated to our senior management, including Li Guo, Chief Executive Officer, to facilitate timely decisions regarding required disclosure.

Under the supervision and participation of our senior management, led by Li Guo, Chief Executive Officer, and Ziyong Hu, Chief Financial Officer, we evaluated the effectiveness of our disclosure controls and procedures as of December 31, 2025. Based on this evaluation, and considering the material weaknesses identified in our internal controls over financial reporting, Li Guo and Ziyong Hu concluded that our disclosure controls and procedures were not effective.

**Management Report on Internal Control Over Financial Reporting**

Our management is responsible for establishing and maintaining adequate internal control over financial reporting. Internal control over financial reporting is defined in Rule 13a-15(f) or 15d-15(f) promulgated under the Exchange Act as a process designed by, or under the supervision of, our principal executive and principal financial officers and effected by our Board, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the United States of America and includes those policies and procedures that:

● Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of our assets;

● Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with accounting principles generally accepted in the United States of America and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and

● 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. 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. All internal control systems, no matter how well designed, have inherent limitations. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation. Because of the inherent limitations of internal control, there is a risk that material misstatements may not be prevented or detected on a timely basis by internal control over financial reporting. However, these inherent limitations are known features of the financial reporting process. Therefore, it is possible to design into the process safeguards to reduce, though not eliminate, this risk.

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: (1) lack of a functioning audit committee and a lack of independent directors on our Board, resulting in ineffective oversight in the establishment and monitoring of required internal controls and procedures; (2) inadequate segregation of duties consistent with control objectives; and (3) ineffective controls over period end financial disclosure and reporting processes.

Management believes that the material weaknesses set forth in items (2) and (3) above did not have an effect on our financial results. However, management believes that the lack of a functioning audit committee and the lack of independent directors on our Board results in ineffective oversight in the establishment and monitoring of required internal controls and procedures, which could result in a material misstatement in our financial statements in future periods.

**Management's Remediation Initiatives**

In an effort to remediate the identified material weaknesses and other deficiencies and enhance our internal controls, we have initiated, or plan to initiate, the following series of measures:

Assuming we are able to secure additional working capital, we will create a position to segregate duties consistent with control objectives and will increase our personnel resources and technical accounting expertise within the accounting function when funds are available to us.

We also plan to appoint one or more outside directors to our Board who shall be appointed to an audit committee resulting in a fully functioning audit committee which will undertake the oversight in the establishment and monitoring of required internal controls and procedures such as reviewing and approving estimates and assumptions made by management.

Management believes that the appointment of one or more independent directors, who shall be appointed to a fully functioning audit committee, will remedy the lack of a functioning audit committee and a lack of a majority of independent directors on our Board.

We anticipate that these initiatives will be implemented in conjunction with the growth of our business.

**Changes in Internal Control over Financial Reporting**

There has been no change in our internal control over financial reporting identified in connection with our evaluation we conducted of the effectiveness of our internal control over financial reporting as of December 31, 2025, that occurred during our fourth quarter that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

**ITEM 9B. OTHER INFORMATION**

None.

**ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS.**

Not applicable.

**Part III**

**ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE**

**<u>Directors and Executive Officers</u>**

The following table sets forth certain information relating to our directors and executive officers upon the closing of this offering:

---

| | | |
|:---|:---|:---|
| **Directors and Executive Officer** | **Age** | **Position/Title** |
| Li Guo | 47 | Chief Executive Officer and Director |
| Ziyong Hu | 40 | Chief Financial Officer |
| Feng Jiang | 37 | Controller |
| Nie Yu | 35 | Chief Operational Officer |

---

***Li Guo.*** Ms. Guo is our founder and has been our chairman of the board of directors and chief executive officer since our inception. Ms. Guo is an investment expert turned entrepreneur. She has over 20 years of experience in alternative asset management and wealth management. Prior to founding BJKZ Investment Management Co., Ltd in 2011, she had extensive multinational experience in the finance industry including fund raising and investments in overseas markets including U.S. market. As the founder at the helm of the company and the distinguished track record of investment she achieved, Ms. Guo has received number of awards including The Star of International Asia youth of investment banking from *Wall Street Journal* in 2007 and one of the *Top Ten Female Investors Who Runs Tens of Billions* from PE daily in 2015. Due to her profound understanding in investing in subdivision industry such as material science and engineering, clean energy intelligent manufacturing as well culture and media, she has also received number of awards including being listed among one of the *Best Ten Investors in Intelligent Manufacturing Industry* in January 2018 by Investorcn.com, *2017 Annual Top 20 Investors* in December 2017 by 21st Century Business Herald, *Top 10 Inv*e*stors of Material Science and Engineering*--2016 Good Chinese Materials in September 2016, *2015-2016 Top Ten Investment Figures of China Culture and Media Industry* in July 2016 by China Bridge. She received her B.A. from the University of International Business and Economics in Beijing in 2000, MBA from University of Illinois at Chicago in 2004, and DBA in Tsinghua University in 2019 and Ph.D in University of Geneva.

**ZiYong Hu.** Mr. Hu has 10 years of working experience as chief financial officer of a group enterprise, is proficient in modern enterprise financial management and has profound theoretical and practical experience in financial management. He graduated from Shanghai TV University in Business Administration in 2010 and studied at Hubei University in 2018. In 2010, he joined Jiu'An Fuying investment company and started as an ordinary specialist. After two years of participation, he was promoted to a financial manager. He has operated the channels of M &A, fixed growth, bond issuance, backdoor listing, VC, PE and other listing work, and has many years of experience and ability in capital operations. He joined Kesheng group in 2018, responsible for group financial management and managing multiple branches and subsidiaries in different regions. At the same time, he assisted in completing the IPOs of the invested enterprises and the listing of the new third edition. Mr. Hu has experience in listing work such as enterprise venture capital, introduction of VC and PE and share reform, and assistingd the company to maintain an increase rate of more than 10% and develop steadily every year. Since 2018, with the development and growth of BJKZ, he was responsible for all the financial work of BJKZ.

**Jiang Feng.** Ms. Jiang has more than 11 years of financial experience, and a bachelor's degree in accounting and management from Shenzhen University. She joined Zhong Keqiang finance company in 2015, successively worked in cost accounting, general ledger accounting and financial analysis posts, and became familiar with financial professional knowledge in accounting, tax law, financial management, internal control and audit. Ms. Jiang has a good understanding of the overall accounting, financial management, internal control, cost accounting, master budget planning, foreign industrial and commercial taxation and other businesses. In 2018, he joined Kesheng group as the treasurer, responsible for financial supervision, financial control and financial support. At the same time, she leads and assists the invested enterprise in performing investigation, details of creditor's rights and debts, asset evaluation, sustainable development evaluation, merger plan, etc. Since 2018, under the development needs of BJKZ, she worked with the financial manager to be responsible for the financial work of BJKZ.

**Nie Yu.** Mr. Nie has more than 9 years of rich operation and leadership experience in multiple positions and fields. He graduated from Chongqing electromechanical vocational and technical college in 2012 and then entered Sichuan Normal University for further study in business administration. In 2012, he joined the ten thousand enterprise win-win enterprise service company, incubated dozens of enterprises, helped them upgrade and manage their organizational structure, and provided whole chain accurate services from scheme to implementation. In 2016, he joined unbounded life company as the operations director, responsible for 30 million investment promotions and industry special research reports before and after. In 2017, he joined Kesheng group as the operations manager, responsible for providing data support for major decision-making matters. At the same time, Mr. Nie has paid close attention to the trends and trends of international and domestic information industry, evaluated the impact of major information technology, assisted in the planning and operation of investment and financing projects, and cooperated with the sales department to expand customer resources. Since August 2018, under the development needs of BJKZ company, he has been responsible for the operation of BJKZ, formulated sales and marketing plans according to the business objectives, and organized and monitored the implementation to ensure the achievement of the objectives.

**ITEM 11. EXECUTIVE COMPENSATION**

The following table shows for the period ended December 31, 2025 and 2024, the compensation awarded (earned) or paid by the Company to its named executive officer or the person acting in a similar capacity as that term is defined in Item 402(a)(2) of Regulation S-K. There are no understandings or agreements regarding compensation that our management will receive after a business combination that is required to be included in this table, or otherwise.

**Summary Compensation Table**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Name and Principal Position<sup>(1)</sup>** | **Year** | **Salary<br>($)** | **Bonus<br>($)** | **Stock<br>Awards<br>($)** | **Option<br>Awards<br>($)** | **Non-Equity<br>Incentive Plan<br>Compensation<br>($)** | **Change in<br>Pension Value and<br>Nonqualified<br>Deferred<br>Compensation<br>Earnings<br>($)** | **All Other<br>Compensation<br>($)** | **Total<br>($)** |
| *Li Guo* | 2025 | $- | $- | – |  | – |  | – $|  |
| *Ziyong Hu* | 2025 | $25118 | $4857 | – |  | – |  | – $| 29975 |
| *Feng Jiang* | 2025 | $- | $- | – |  | – |  | – $|  |
| *Nie Yu* | 2025 | $20847 | $- | – |  | – |  | – $| 20847 |
| *Li Guo* | 2024 | $- | $- | – |  | – |  | – $|  |
| *Ziyong Hu* | 2024 | $14717 | $16687 | – |  | – |  | – $| 31404 |
| *Feng Jiang* | 2024 | $- | $- | – |  | – |  | – $|  |
| *Nie Yu* | 2024 | $14837 | $13905 | – |  | – |  | – $| 28742 |

---

**Summary of Director Compensation**

Our director is not compensated for her role, and there are no arrangements for future compensation for services provided as a director.

**Agreement on Salary Deferral**

Ms. Li Guo (CEO) has agreed not to take a salary from the Company until the Company achieves positive income. During the year ended December 31, 2025, no compensation was paid or accrued in respect of Ms. Guo. Other named executive officers received cash compensation during the year as set out in the Summary Compensation Table above; in addition, the Company continues to carry an accrued executive compensation balance of $214,533 as of December 31, 2025 (December 31, 2024: $244,565), representing previously accrued amounts that remain unpaid pending the Company achieving sufficient cash flows. Reference is made to Note 8 to the consolidated financial statements for further details.

**Employment Contracts, Termination of Employment, Change-in-Control Arrangements**

BJKZ currently has 4 employees, all of whom are officers, as well as one consultant who works as a technician.

There are no compensation plans or arrangements, including payments to be made by us that would result from the resignation, retirement or any other termination.

There are no arrangements for officers, employees or consultants that would result from a change-in-control.

**ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS**

The following tables set forth certain information with respect to the beneficial ownership of our ordinary shares as of the date of this report, for:

● each shareholder known by us to be the beneficial owner of more than 5% of our outstanding ordinary shares; and

● each of our directors and executive officers.

We have determined beneficial ownership in accordance with the rules of the SEC, which generally define beneficial ownership to include any shares over which a person exercises sole or shared voting or investment power. Such determination is not necessarily indicative of beneficial ownership for any other purpose. Except as indicated by the footnotes below, we believe, based on the information furnished to us, that the persons and entities named in the table below have sole voting and investment power or the power to receive the economic benefit with respect to all ordinary shares that they beneficially own, subject to applicable community property laws. None of the stockholders listed in the table are a broker-dealer or an affiliate of a broker dealer. None of the stockholders listed in the table are located in the United States.

Applicable percentage ownership is based on 130,097,000 ordinary shares outstanding as of the date of this filing. Unless otherwise indicated, the address of each beneficial owner listed in the table below is c/o BJKZ, No 3 Building of No 1 Jiali Construction Plaza FL 13, No.4th Central Road, Futian, Shenzhen, Guangdong Province, 518000, People's Republic of China.

---

| | | |
|:---|:---|:---|
| **Name of Beneficial Owner** | **Ordinary<br>shares** | **%** |
| ***Directors and executive officers:*** |  |  |
| Kehui International Holdings Limited<sup>(2)</sup> | 1100000.0 | 0.85 |
| Fine Orchild Limited | 69900000.0 | 53.73 |
| Oriental Keyang Limited<sup>(3)</sup> | 59000000.0 | 45.35 |

---

(1) For each person and entity included in this column, the percentage of voting rights is calculated by dividing the number of ordinary shares beneficially owned by such person or entity by 130,097,000 shares being the total number of ordinary shares outstanding on the date of this Report.

(2) The control person is Li Guo.

(3) The control person is Yaguang Yu.

**ITEM 13. CERTAIN RELATIONSHIPS AND DIRECTOR INDEPENDENCE**

Except as disclosed below, since the beginning of the fiscal year preceding the last fiscal year none of the following persons has had any direct or indirect material interest in any transaction to which our Company was or is a party, or in any proposed transaction to which our Company proposes to be a party:

● any Director or officer of our Company;

● any proposed Director of officer of our Company;

● any person who beneficially owns, directly or indirectly, shares carrying more than 5 percent of the voting rights attached to our Common Stock; or

● any member of the immediate family of any of the foregoing persons (including a spouse, parents, children, siblings, and in-laws).

**Director Independence**

We are not subject to listing requirements of any national securities exchange or national securities association and, as a result, we are not at this time required to have our Board comprised of a majority of "Independent Directors". We believe that our director currently does not meet the definition of "independent" as promulgated by the rules and regulations of NASDAQ.

**ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES**

**Audit Fees**

The aggregate fees billed to the Company by KD & Co. for professional services rendered for the audit of the Company's annual consolidated financial statements and for the reviews of the Company's interim consolidated financial statements included in the Company's Quarterly Reports on Form 10-Q are set out below. There were no other fees billed by KD & Co. for audit-related services, tax services, or any other services during the periods presented.

---

| | | |
|:---|:---|:---|
| **Fee Category** | **Year Ended<br>December 31,<br>2025** | **Year Ended<br>December 31,<br>2024** |
| Audit fees<sup>(1)</sup>: | $50000 | $35000 |
| Total fees | $50000 | $35000 |

---

(1) "Audit fees" consist of fees billed by the principal accountant for the audit of the Company's annual consolidated financial statements and for the reviews of the Company's interim consolidated financial statements included in its Quarterly Reports on Form 10-Q. No other fees were billed by the principal accountant during the periods presented.

**Audit Committee Pre-Approval of Audit and Permissible Non-Audit Services of Independent Auditors**

Given the small size of our Board as well as the limited activities of our Company, our Board acts as our Audit Committee. Our Board pre-approves all audit and permissible non-audit services. These services may include audit services, audit-related services, tax services, and other services. Our Board approves these services on a case-by-case basis.

**Part IV**

**ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The following documents are filed as part of this report:

Financial Statements

The following financial statements of KB Global Holdings Limited and Report of Independent Registered Public Accounting Firm are presented in the "F" pages of this report:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Exhibits

See the Exhibit Index following the signature page of this report, which Index is incorporated herein by reference.

**ITEM 16. FORM 10-K SUMMARY**

**Form 10-K Summary**

**Business Overview**: KB Global Holdings Limited is a holding company for a Chinese subsidiary for which Beijing Kezhao Technology Co., Ltd. ("BJKZ") is a variable interest entity. BJKZ specializes in high-tech software development and high-end material manufacturing. The company focuses on creating innovative digital management systems and leveraging advanced materials to enhance its technological solutions.

**Operational Highlights**:

● **Enterprise Digital Management System Integration**: Development reached 100%. Bring operating income to the company.

● **Property and equipment**: In 2023, the Company purchased $36,114 in computer devices to bolster software development capabilities.

● **Client Engagement**: Received a payment for goods of $179,613 for software system development from a major client.

**Risk Factors**:

● **Market Risks**: Includes potential volatility in demand for software solutions and materials.

● **Operational Risks**: Challenges in scaling operations and maintaining technological advancements.

● **Regulatory Risks**: Compliance with diverse regulations across different jurisdictions.

**Corporate Governance**:

● **Board of Directors**: Led by CEO Li Guo, with a focus on strategic oversight and risk management.

● **Executive Leadership**: Experienced team driving the company's growth and innovation initiatives.

● **Governance Policies**: Emphasis on transparency, accountability, and ethical business practices.

**Forward-Looking Statements**: This report contains forward-looking statements regarding the company's future performance, including anticipated growth, market expansion, and technological advancements. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially.

The Form 10-K Summary provides an overview of the comprehensive details found in the full Form 10-K, offering insights into KB Global Holdings Limited's business operations, financial condition, and strategic direction.

**SIGNATURES**

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

---

| | | | |
|:---|:---|:---|:---|
|  | KB Global Holdings Limited | KB Global Holdings Limited | KB Global Holdings Limited |
| Date: June 3, 2026 | By: | /s/ Li Guo | /s/ Li Guo |
|  |  | Name: | Li Guo |
|  |  | Title: | Chief Executive Officer, Director |
|  |  |  | (principal executive officer) |
| Date: June 3, 2026 | By: | /s/ Ziyong Hu | /s/ Ziyong Hu |
|  |  | Name: | Ziyong Hu |
|  |  | Title: | Chief Financial Officer |
|  |  |  | (principal financial officer and principal accounting officer) |

---

**KB Global Holdings Limited**

**Exhibit Index to Annual Report on Form 10-K**

**For the Fiscal Year Ended December 31, 2025**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 10.2 | [Exclusive Business Cooperation Agreement dated November 30, 2018 between Suzhou Keju Management Consulting Co., Ltd. and Beijing Kezhao Technology Co., Ltd. – filed as an exhibit to the Company's Annual Report on Form 10-K for the year ended December 31, 2023 and incorporated herein by reference.](https://www.sec.gov/Archives/edgar/data/1897525/000182912624003512/kbglobal_ex10-2.htm) |
| 31.1\* | [Certification of Chief Executive Officer pursuant to Rule 13a-14 and Rule 15d-14(a) of the Exchange Act.](kbglobal_ex31-1.htm) |
| 31.2\* | [Certification of Chief Financial Officer pursuant to Rule 13a-14 and Rule 15d-14(a) of the Exchange Act.](kbglobal_ex31-2.htm) |
| 32.1\* | [Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.](kbglobal_ex32-1.htm) |
| 32.2\* | [Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.](kbglobal_ex32-2.htm) |
| 101\* | Interactive data files pursuant to Rule 405 of Regulation S-T |
| 101.INS | Inline XBRL Instance Document.\* |
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document.\* |
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document.\* |
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document.\* |
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document.\* |
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document.\* |
| 104 | Cover Page Interactive Data File (Embedded as Inline XBRL document and contained in Exhibit 101).\* |

---

\* Exhibits filed herewith.

**Part IV**

**KB GLOBAL HOLDINGS LIMITED**

**INDEX TO FINANCIAL STATEMENTS**

---

| | |
|:---|:---|
|  | **Page** |
| [Report of Independent Registered Public Accounting Firm](#b_001) | F-2 |
| [Consolidated Balance Sheets as of December 31, 2025 and 2024](#b_002) | F-3 |
| [Consolidated Statements of Operations and Comprehensive Loss for the years ended December 31, 2025 and 2024](#b_003) | F-4 |
| [Consolidated Statements of Shareholders' Equity for the years ended December 31, 2025 and 2024](#b_004) | F-5 |
| [Consolidated Statements of Cash Flows for the years ended December 31, 2025 and 2024](#b_005) | F-6 |
| [Notes to Consolidated Financial Statements](#b_006) | F-7 – F-15 |

---

**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

To the Director and Stockholders of

KB Global Holdings Limited

**Opinion on the Financial Statements**

We have audited the accompanying consolidated balance sheets of KB Global Holdings Limited and its subsidiaries (collectively the "Company") as of December 31, 2025 and 2024, and the related consolidated statements of operations and comprehensive income, change in stockholder's equity, and cash flows for the years ended December 31, 2025 and 2024, and the related notes (collectively referred to as the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024, and the results of its operations and its cash flows for the years ended December 31, 2025 and 2024, in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ KD & Co.

We have served as the Company's auditor since 2025

Hong Kong, China

June 3, 2026

PCAOB ID: 7137

**KB GLOBAL HOLDINGS LIMITED**

***Consolidated Balance Sheets***

---

| | | |
|:---|:---|:---|
|  | **December 31,** | **December 31,** |
|  | **2025** | **2024** |
| **ASSETS** |  |  |
| **Non-current assets** |  |  |
| Computer equipment | $22227 | $28096 |
| **Total non-current assets** | **22227** | **28096** |
| **Current assets** |  |  |
| Account receivables |  | 17872 |
| Other receivables | 1140 | 1096 |
| Amounts due from a related party | 45604 |  |
| Cash and cash equivalents | 715 | 3253 |
| **Total current assets** | **47459** | **22221** |
| **Total assets** | $**69686** | $**50317** |
| **LIABILITIES AND SHAREHOLDERS' DEFICIT** |  |  |
| **Current liabilities** |  |  |
| Accruals and other current payables | $249898 | $294934 |
| Tax payable | 2471 | 2376 |
| Amount due to a related party | 198977 | 23661 |
| **Total current liabilities** | **451346** | **320971** |
| **Total liabilities** | **451346** | **320971** |
| **Shareholders' equity** |  |  |
| Ordinary shares, $0.00001 par value; 500,000,000 shares authorized; 130,097,000 and 130,097,000 were shares issued and outstanding at December 31, 2025 and 2024, respectively. | 1301 | 1301 |
| Additional paid-in capital | 96999 | 96999 |
| Accumulated deficit | (478465) | (366416) |
| Accumulated other comprehensive loss | (1495) | (2538) |
| **Total shareholders' deficit** | **(381660)** | **(270654)** |
| **Total liabilities and shareholders' equity** | $**69686** | $**50317** |

---

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

**KB GLOBAL HOLDINGS LIMITED**

***Consolidated Statements of Operations and Comprehensive Loss***

---

| | | |
|:---|:---|:---|
|  | **For the<br> years ended<br> December 31,** | **For the<br> years ended<br> December 31,** |
|  | **2025** | **2024** |
| **Revenue** |  |  |
| &nbsp;&nbsp;&nbsp;**Software development service – related party** | $**-** | $**179613** |
| **Cost of sales** | - | (148879) |
| **Gross profit** | **-** | **30734** |
| Operating expenses | (112059) | (133595) |
| **Loss from operations** | **(112059)** | **(102861)** |
| Other income | 10 | 28640 |
| **Loss before income tax** | **(112049)** | **(74221)** |
| Income tax expense | - | - |
| **Net loss** | $**(112049)** | $**(74221)** |
| **Other comprehensive (loss) income** |  |  |
| Foreign currency translation adjustments | 1043 | (1350) |
| **Comprehensive loss** | **(111006)** | **(75571)** |
| **Basic and diluted earnings per ordinary share** | (0.00) | (0.00) |
| **Basic and diluted weighted average ordinary shares outstanding** | 130097000 | 130097000 |

---

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

**KB GLOBAL HOLDINGS LIMITED**

***Consolidated Statements of Shareholders' Equity***

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Ordinary shares** | **Ordinary shares** | | | | |
|  | **Number** | **Amount** | **Additional<br> paid-in**<br>**capital** | **Accumulated**<br>**deficit** | **Accumulated other<br> comprehensive income**<br>**(loss)** | **Shareholders'**<br>**equity** |
| Balance as of January 1, 2025 | 130097000 | $1301 | $96999 | $(366416) | $(2538) | $(270654) |
| Net loss |  |  |  | (112049) |  | (112049) |
| Foreign currency translation adjustment | - | - | - | - | 1043 | 1043 |
| Balance as of December 31, 2025 | 130097000 | $1301 | $96999 | $(478465) | $(1495) | $(381660) |
| Balance as of January 1, 2024 | 130097000 | $1301 | $96999 | $(292195) | $(1188) | $(195083) |
| Net loss |  |  |  | (74221) |  | (74221) |
| Foreign currency translation adjustment | - | - | - | - | (1350) | (1350) |
| Balance as of December 31, 2024 | 130097000 | $1301 | $96999 | $(366416) | $(2538) | $(270654) |

---

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

**KB GLOBAL HOLDINGS LIMITED**

***Consolidated Statements of Cash Flows***

---

| | | |
|:---|:---|:---|
|  | **For the<br> years ended<br> December 31,** | **For the<br> years ended<br> December 31,** |
|  | **2025** | **2024** |
| **Cash flows from operations:** |  |  |
| Net loss | $(112049) | $(74221) |
| &nbsp;&nbsp;&nbsp;Impairment of account receivables | 18149 |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 6833 | 6830 |
| &nbsp;&nbsp;&nbsp;Interest income | (1) | (26554) |
| Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Account receivables |  | (18141) |
| &nbsp;&nbsp;&nbsp;Subscription receivables |  | 1100 |
| &nbsp;&nbsp;&nbsp;Other receivables |  | (556) |
| &nbsp;&nbsp;&nbsp;Accruals | (48752) | 142469 |
| &nbsp;&nbsp;&nbsp;Other payables |  | (7453) |
| &nbsp;&nbsp;&nbsp;Advance from customer | - | (145127) |
| **Net cash used in operations** | **(135820)** | **(121653)** |
| **Cash flows from investing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;Interest received | 1 | 26554 |
| &nbsp;&nbsp;&nbsp;Loan to a related party |  | (122898) |
| &nbsp;&nbsp;&nbsp;Advances to related parties | (44517) | - |
| &nbsp;&nbsp;&nbsp;Advances from a related party | - | 462196 |
| &nbsp;&nbsp;&nbsp;**Net Cash (used in)/provided by investing activities** | **(44516)** | **365852** |
| **Cash flows from financing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;Advances from related parties | 178606 | 184296 |
| &nbsp;&nbsp;&nbsp;Repayment to related parties | (887) | (453906) |
| **Net cash provided by/(used in) financing activities** | **177719** | **(269610)** |
| Effect of exchange rate change on cash and cash equivalents | 79 | (216) |
| **Net decrease in cash and cash equivalents** | **(2538)** | **(25627)** |
| **Cash and cash equivalents, beginning of year** | 3253 | 28880 |
| **Cash and cash equivalents, end of year** | $**715** | $**3253** |
| **Supplemental cash flow disclosure:** |  |  |
| Cash paid for interest expense | $- | $- |
| Cash paid for income taxes | $- | $- |

---

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

**KB GLOBAL HOLDINGS LIMITED**

**FOR THE YEAR ENDED DECEMBER 31, 2025**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**NOTE 1 – Organization and Business Description**

KB Global Holdings Limited (the "Company") is incorporated in the Cayman Islands on November 17, 2017 with the authorized capital of 5 billion ordinary shares, par value of $0.00001 per share.

On November 20, 2017, Kesheng Global (HK) Limited, or Kesheng HK, was incorporated in Hong Kong as a wholly-owned subsidiary of KB Global Holdings Limited.

On January 18, 2018, Suzhou Keju Enterprise Management Consulting Limited, or Suzhou Keju, our Wholly Foreign-Owned Enterprise (the "WFOE"), was incorporated in Suzhou, PRC, with registered capital of $10 million, as a wholly-owned subsidiary of Kesheng HK.

Beijing Kezhao Technology Co., Ltd. (the "BJKZ") was incorporated in PRC on August 13, 2018. BJKZ is an information technology company which engaged in information technology development and consulting services.

On November 30, 2018, WFOE entered into an exclusive business cooperation agreement with the shareholders of BJKZ, through which WFOE has gained full control over the management and receive the economic benefits of BJKZ.

**Note 2 – Summary of Significant Accounting Policies**

***Basis of Presentation***

The consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America ("US GAAP") and reflect the activities of the following subsidiaries and variable interest entity ("VIE"): Kesheng HK, Suzhou Keju, and BJKZ. All inter-company transactions and balances have been eliminated in the consolidation.

In accordance with U.S. GAAP, VIE are generally entities that lack sufficient equity to finance their activities without additional financial support from other parties or whose equity holders lack adequate decision-making ability. All VIE with which the Company is involved must be evaluated to determine the primary beneficiary of the risks and rewards of the VIE. The primary beneficiary is required to consolidate the VIEs for financial reporting purposes.

Accounting Standards Codification ("ASC") 810-10 "Consolidation" addresses whether certain types of entities referred to as VIE, such as BJKZ, should be consolidated in a company's consolidated financial statements. Pursuant to the exclusive business cooperation agreement, WFOE has the exclusive right to provide to BJKZ technical development, technical support, management consultation and other related services on an exclusive basis. In accordance with the provisions of ASC 810, the Company has determined that BJKZ is a VIE of the WFOE and that the Company is the primary beneficiary, and accordingly, the financial statements of BJKZ are consolidated into the results of the Company.

The following assets and liabilities of the VIE are included in the accompanying consolidated financial statements of the Company as of December 31, 2025 and 2024:

---

| | | |
|:---|:---|:---|
|  | **Year ended<br> December 31,** | **Year ended<br> December 31,** |
|  | **2025** | **2024** |
| Non-current assets | $22227 | $28096 |
| Current assets | $57666 | $32033 |
| **Total assets** | $**79893** | $**60129** |
| Current liabilities | $164265 | $80491 |
| **Total liabilities** | $**164265** | $**80491** |

---

***Going Concern***

The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As reflected in the consolidated financial statements, the Company incurred a net loss of $112,049 during the year ended December 31, 2025, generated no revenue during 2025, and as of that date had a working capital deficiency of $403,887 (current liabilities of $451,346 less current assets of $47,459), an accumulated deficit of $478,465, a shareholders' deficit of $381,660, and cash and cash equivalents of $715. These conditions raise substantial doubt about the Company's ability to continue as a going concern within one year after the date that these consolidated financial statements are issued.

Management has evaluated these conditions and concluded that its plans, as described below, alleviate the substantial doubt:

(i) Director Ms. Guo Li has continued to provide financial support to the Company. During the year ended December 31, 2025, the amount due to Ms. Guo Li increased from $23,661 to $198,977. Ms. Guo Li has confirmed her intention to continue providing financial support to the Company, and to not call for repayment of the amounts due to her, for a period of at least twelve months from the date these consolidated financial statements are issued, to the extent necessary to enable the Company to meet its obligations as they fall due;

(ii) management is actively pursuing additional software development engagements that are expected to generate operating cash flows in the next twelve months; and

(iii) the Company will continue to control its operating expenses and to defer non-essential expenditure, including the deferral of executive compensation, until cash flows from operations become positive.

Based on these plans, management believes that the Company will have sufficient resources to meet its obligations as they fall due for at least twelve months from the date these consolidated financial statements are issued. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

***Use of Estimates***

The preparation of the Company's financial statements in conformity with generally accepted accounting principles of the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management makes its best estimate of the ultimate outcome for these items based on historical trends and other information available when the financial statements are prepared. Actual results could differ from those estimates.

***Foreign Currency Translation***

The Company's financial statements are presented in the U.S. dollar ($), which is the Company's reporting currency. The Company use Renminbi ("RMB") as its functional currency. Transactions in foreign currencies are initially recorded at the functional currency rate ruling at the date of transaction. Any differences between the initially recorded amount and the settlement amount are recorded as a gain or loss on foreign currency transaction in the statements of income. Monetary assets and liabilities denominated in foreign currency are translated at the functional currency rate of exchange ruling at the balance sheet date. Any differences are taken to profit or loss as a gain or loss on foreign currency translation in the statements of income.

In accordance with ASC 830, Foreign Currency Matters, the Company translated the assets and liabilities into U.S. dollar using the rate of exchange prevailing at the applicable balance sheet date and the statements of income and cash flows are translated at an average rate during the reporting period. Adjustments resulting from the translation are recorded in shareholders' equity as part of accumulated other comprehensive income.

***Fair Value Measurements***

ASC Topic 820, Fair Value Measurement and Disclosures, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This topic also establishes a fair value hierarchy, which requires classification based on observable and unobservable inputs when measuring fair value. Certain current assets and current liabilities are financial instruments. Management believes their carrying amounts are a reasonable estimate of fair value because of the short period of time between the origination of such instruments and their expected realization and, if applicable, their current interest rates are equivalent to interest rates currently available. The three levels of valuation hierarchy are defined as follows:

● Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.

● Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments.

● Level 3 inputs to the valuation methodology are unobservable and significant to the fair value measurement.

The carrying amounts of financial assets and liabilities, such as balance with related parties approximate their fair values because of the short maturity of these instruments or the rate of interest of these instruments approximate the market rate of interest.

***Advance from Customer***

The proceeds received from sales are initially recorded as advance from customer, which was usually related to unsatisfied performance obligations at the end of an applicable reporting period. Due to the generally short-term duration of the relevant contracts, most of the performance obligations are satisfied in the following reporting period.

***Cash and Cash Equivalents***

Cash and cash equivalents represent cash on hand, demand deposits, and other short-term highly liquid investments placed with banks, which have original maturities of three months or less and are readily convertible to known amounts of cash.

***Computer equipment***

Computer equipment is stated at cost less accumulated depreciation and impairment losses. Depreciation is provided using the straight-line method based on the estimated useful life. The estimated useful life of computer equipment is 5 years.

***Revenue Recognition***

The Company recognizes revenue in accordance with Accounting Standards Codification (ASC) Topic 606 – Revenue from Contracts with Customers. Revenue is recognized when control of the promised service is transferred to the customer in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services.

The Company generates revenue exclusively from software development services, which involve the design, development, and delivery of customized software solutions based on customer specifications. Each contract typically includes a single performance obligation — the delivery of the completed software solution. Revenue is recognized at a point in time, upon customer acceptance or delivery of the completed software, whichever occurs later. This reflects the point at which the customer obtains control of the software and the Company has fulfilled its performance obligation.

***Income Tax***

The Company uses the asset and liability method of accounting for income taxes in accordance with Accounting Standards Codification ("ASC") 740, "Income Taxes" ("ASC 740"). Under this method, income tax expense is recognized as the amount of: (i) taxes payable or refundable for the current year and (ii) future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period that includes the enactment date. A valuation allowance is provided to reduce the deferred tax assets reported 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.

***Accounts Receivable and Allowance for Credit Losses***

Accounts receivable are recorded at the invoiced amount, net of an allowance for expected credit losses. The Company adopted ASC 326, Financial Instruments — Credit Losses, and applies the current expected credit loss ("CECL") model to its accounts receivable. The Company estimates expected credit losses based on a combination of historical loss experience, current conditions, and reasonable and supportable forecasts of future economic conditions, including the financial condition and creditworthiness of the counterparty. Accounts receivable are written off when the Company concludes that all reasonable collection efforts have been exhausted and the receivable is no longer considered recoverable.

***Recent Accounting Pronouncements***

<u>Recent Accounting Pronouncements, not yet adopted</u>

ASU 2023-09, Income Taxes ("ASU 2023-09"), requires disclosure of specific categories and disaggregation of information in the rate reconciliation table and expands disclosures related to income taxes paid. The new standard is effective for fiscal years beginning after December 15, 2024 and is to be applied prospectively. The Company is currently evaluating the impact, if any, adoption will have on its consolidated financial statements and disclosures.

ASU 2024-02, Codification Improvements-Amendments to Remove References to the Concepts Statements ("ASU 2024-02") updates accounting standards for revenue recognition (ASC 606), lease accounting (ASC 842), and impairment of long-lived assets (ASC 360). ASU 2024-02 provides enhanced guidance for estimating variable consideration, accounting for contract modifications, determining lease terms, and simplifying impairment testing for long-lived assets. It also introduces increased disclosure requirements for financial instruments and derivatives. ASU 2024-02 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact, if any, adoption will have on its consolidated financial statements and disclosures.

ASU 2024-03, Disaggregation of Income Statement Expenses ("ASU 2024-03"), requires public companies to disaggregate key expense categories, such as inventory purchases, employee compensation and depreciation in their financial statements. This aims to improve investor insight into company performance. ASU 2024-03 is effective for fiscal years beginning after December 15, 2024, and interim periods within fiscal years beginning after December 15, 2025, with early adoption permitted. The Company is currently evaluating the impact, if any, adoption will have on its consolidated financial statements and disclosures.

The Company has evaluated other new accounting standards issued by the FASB and SEC that are not yet effective. Management does not expect these standards to have a material impact on the consolidated financial statements upon adoption.

<u>Recently Adopted Accounting Pronouncements</u>

ASU 2023-07, Segment Reporting – Improvements to Reportable Segment Disclosures ("ASU 2023-07"), requires enhanced disclosures related to significant segment expenses and a description of how the chief operating decision maker utilizes segment operating profit or loss to allocate resources and assess segment performance for all public entities. Additionally, the standard requires disclosures of significant segment expenses and other segment items as well as incremental qualitative disclosures.

The Company adopted ASU 2023-07 effective January 1, 2024, on a retrospective basis. For additional information, refer to Note 12: Segment Information.

**Note 3 – Revenue**

We recorded $0 and $179,613 in revenue, respectively, for the years ended December 31, 2025 and 2024:

---

| | | |
|:---|:---|:---|
|  | **Years ended<br> December 31,** | **Years ended<br> December 31,** |
|  | **2025** | **2024** |
| Software development service | $- | $179613 |
|  | - | 179613 |

---

**Note 4 – Net Loss per Ordinary Share**

The following table sets forth the computation of basic and diluted net loss per share for years indicated:

---

| | | |
|:---|:---|:---|
|  | **Years ended<br> December 31,** | **Years ended<br> December 31,** |
|  | **2025** | **2024** |
| **Net loss attributable to the Company, basic and diluted shares** | $**(112049)** | $**(74221)** |
| Weighted average ordinary shares used in computing basic and dilutive net loss per share | 130097000 | 130097000 |
| Net loss per common share, basic | (0.00) | (0.00) |

---

There were no dilutive securities for the years ended December 31, 2025 and 2024.

**Note 5 – Income Tax**

BJKZ is incorporated in the PRC. It is governed by the income tax law of the PRC and is subject to PRC enterprise income tax ("EIT"). The EIT rate for companies operating in the PRC is 25%.

The Company's effective income tax rates were 0% for the years ended December 31, 2025 and 2024 because of accumulated tax losses brought forward. The applicable rates of income taxes are as follows:

---

| | | |
|:---|:---|:---|
|  | **Years ended<br> December 31,** | **Years ended<br> December 31,** |
|  | **2025** | **2024** |
| U.S. statutory rate | 34.0% | 34.0% |
| Foreign income not registered in the U.S. | (34.0)% | (34.0)% |
| PRC statutory rate | 25.0% | 25.0% |
| Changes in valuation allowance and others | (25.0)% | (25.0)% |
| Effective tax rate | 0% | 0% |

---

Income tax payable represented enterprise income tax at a rate of 25% of taxable income that the Company accrued but not paid. Income tax payable as of December 31, 2025 and 2024 comprises:

---

| | | |
|:---|:---|:---|
|  | **Years ended<br> December 31,** | **Years ended<br> December 31,** |
|  | **2025** | **2024** |
| Current income tax expense | $- | $- |
| Deferred tax expense (benefit) | - | - |
| Current income tax expense | $- | $- |

---

The Company has not recognized an income tax benefit for its operating losses generated based on uncertainties concerning its ability to generate taxable income in future periods. The tax benefit for the periods presented is offset by a valuation allowance established against deferred tax assets arising from the net operating losses and other temporary differences, the realization of which could not be considered more likely than not. In future periods, tax benefits and related deferred tax assets will be recognized when management considers realization of such amounts to be more likely than not. A valuation allowance will be maintained until sufficient positive evidence exists to support the reversal of any portion or all of the valuation allowance:

---

| | | |
|:---|:---|:---|
|  | **December 31,** | **December 31,** |
|  | **2025** | **2024** |
| Deferred tax asset from operating losses carry-forwards | $28012 | $18555 |
| Valuation allowance | (28012) | (18555) |
| Deferred tax asset, net | $- | $- |

---

**Note 6 – Computer Equipment**

The computer equipment consisted of the following:

---

| | | |
|:---|:---|:---|
|  | **December 31,** | **December 31,** |
|  | **2025** | **2024** |
| At cost | $36841 | $35415 |
| Less: accumulated depreciation | (14614) | (7319) |
| Property and Equipment | $22227 | $28096 |

---

No significant residual value is estimated for the computer equipment. Depreciation expense for the years ended December 31, 2025 and 2024 totaled $6,833 and $6,830, respectively.

**Note 7 – Impairment of Accounts Receivable**

As of December 31, 2024, the Company had an outstanding accounts receivable balance of $17,872 from Beijing Cabelongteng Investment Center (Limited Partnership), a related party (see Note 9). The receivable arose from software development services delivered by the Company during the first quarter of 2024. Despite repeated collection efforts during the year ended December 31, 2025, the counterparty did not make any payment in respect of the outstanding balance, and management has assessed the receivable as no longer recoverable due to the continued non-payment.

Accordingly, an impairment loss of $18,149, representing the full carrying amount of the receivable translated at the average exchange rate for the year, was recognised in the consolidated statement of operations for the year ended December 31, 2025, and is presented within "Operating expenses". The impairment loss is also separately identified in the segment information presented in Note 12. The accounts receivable balance was fully written off as of December 31, 2025.

No impairment loss was recognised on accounts receivable during the year ended December 31, 2024.

**Note 8 – Accruals and Other Payables**

Accruals and other payables consisted of the following:

---

| | | |
|:---|:---|:---|
|  | **December 31,** | **December 31,** |
|  | **2025** | **2024** |
| Accrued audit fee | $35000 | $50000 |
| Executive compensation | 214533 | 244565 |
| Other | 365 | 369 |
|  | $249898 | $294934 |

---

**Note 9 – Related Party Transactions and Balances**

a. Related party

---

| | |
|:---|:---|
| **Name of related party** | **Relationship with the Company** |
| Suzhou Kesheng Investment Management Co., Ltd. | Ms. Guo Li is common director |
| Guo Li | Ms. Guo Li is the director of the Company |
| Beijing Cabelongteng | The controlling party of this entity is also a shareholder of the Company |
| Shenzhen Jiecheng Enterprise Management Consulting Co., Ltd ("Jiecheng") | Mr. Hu Ziyong, the Company's Chief Financial Officer holds a 60% ownership interest in Jiecheng |
| Sichuan Chuanghe Culture Media Co., Ltd ("Chuanghe") | Mr. Hu Ziyong, the Company's Chief Financial Officer serves as supervisor of Chuanghe |

---

b. Related Party Transactions

During the year ended December 31, 2025, the Company made advances totalling $19,952 to Shenzhen Jiecheng Enterprise Management Consulting Co., Ltd ("Jiecheng"), and advances totalling $25,652 to Sichuan Chuanghe Culture Media Co., Ltd ("Chuanghe"). The advances are unsecured, non-interest bearing, repayable on demand, and are intended to support the working capital requirements of the respective related parties. No interest income, expense, or other income statement effect was recognised in respect of these advances during the year. As of December 31, 2025, the full amounts remained outstanding and are presented within "Amounts due from related parties" on the consolidated balance sheet.

No revenue was recognised from any related party for the year ended December 31, 2025 (2024: $179,613 of software development service revenue from Beijing Cabelongteng Investment Center (Limited Partnership)).

During the year ended December 31, 2024, the Company provided software development services to Beijing Cabelongteng Investment Center (Limited Partnership), a related party, and recognised revenue of $179,613.

c. Related party balances

The Company had the following related party balances at December 31, 2025 and 2024:

---

| | | |
|:---|:---|:---|
|  | **December 31,** | **December 31,** |
|  | **2025** | **2024** |
| Due from (to) related parties: |  |  |
| &nbsp;&nbsp;&nbsp;Shenzhen Jiecheng Enterprise Management Consulting Co., Ltd | 19952 |  |
| &nbsp;&nbsp;&nbsp;Sichuan Chuanghe Culture Media Co., Ltd | 25652 | - |
| &nbsp;&nbsp;&nbsp;Guo Li | (198977) | (23661) |

---

The amounts due from (to) related parties are without interest and due on demand.

**Note 10 – Commitments and Contingencies**

*Operating leases*

During 2025, the Company entered into several short-term operating lease agreements for office space in China. These leases are each for a term of one year or less and are therefore not recognized on the balance sheet in accordance with the short-term lease exemption under ASC 842.

● In July 2024, the Company leased approximately 8 square meters of office space, commencing July 4, 2024, and expiring July 3, 2025, with monthly lease payments of approximately $93 . This lease was renewed on July 3, 2025, for an additional term expiring July 3, 2026, with the same monthly payments.

● In August 2024, the Company commenced another lease expiring July 31, 2025, with monthly payments of approximately $278 . This lease was renewed in July 2025 for an additional term expiring October 31, 2025, with the same monthly payments. This lease was renewed in October 2025 for an additional term expiring February 28, 2026, with the same monthly payments.

● In November 2024, the Company entered into a lease expiring October 31, 2025, with monthly payments of approximately $348 . This lease was renewed in October 2025 for an additional term expiring October 30, 2026, with the same monthly payments.

The Company recognizes lease expense on a straight-line basis over the lease term. For the years ended December 31, 2025 and 2024, total lease expenses were $8,625 and $4,936, respectively.

*Legal proceedings*

There has been no legal proceeding in which the Company is a party as of December 31, 2025.

**Note 11 – Ordinary Shares**

In January and February 2023, the Company sold 97,000 ordinary shares at a purchase price of $1.00 per share.

**Note 12 – Segment Reporting**

The Company operates as one operating segment, providing information technology (IT) development and consulting services to a broad range of clients across various industries. The Company's primary revenue streams include custom software development, IT consulting, and system integration services. These services collectively account for approximately 100% of the Company's revenue.

The Company's Chief Operating Decision Maker (CODM) is its Chief Executive Officer (CEO), who evaluates financial performance and allocates resources based on information presented on a consolidated basis. The CODM uses consolidated net income as the primary measure of financial performance and assesses results by comparing actual performance to historical trends and internal forecasts. The categories of significant segment expenses regularly provided to the CODM and included in the measure of segment loss are set out in the table below.

The following table presents selected financial information with respect to the Company's single operating segment for the years ended December 31, 2025, and 2024:

---

| | | |
|:---|:---|:---|
|  | **For the<br> years ended<br> December 31,** | **For the<br> years ended<br> December 31,** |
|  | **2025** | **2024** |
| Revenue | $- | $179613 |
| Cost of sales | - | (148879) |
| **Gross profit** | **-** | **30734** |
| Operating expenses: |  |  |
| Depreciation | 6833 | 6830 |
| Office expense | 8625 | 5069 |
| Professional fee | 50364 | 56062 |
| Staff costs | 22111 | 60146 |
| Impairment of account receivables | 18149 |  |
| Other operating expenses | 5977 | 5488 |
| **Total operating expenses** | **(112059)** | **(133595)** |
| **Loss from operations** | **(112059)** | **(102861)** |
| Other income | 10 | 28640 |
| **Loss before income tax** | **(112049)** | **(74221)** |
| Income tax expense | - | - |
| **Net loss** | $**(112049)** | $**(74221)** |

---

**Note 13 – Subsequent Event**

There were no subsequent events or transactions that would require recognition or disclosure in financial statements for the year ended December 31, 2025.

## Exhibit 31.1

**EXHIBIT 31.1**

**CERTIFICATION OF**

**PRINCIPAL EXECUTIVE OFFICER**

**PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF**

**THE SARBANES-OXLEY ACT OF 2002**

I, Li Guo, certify that:

1. I
 have reviewed this Annual Report on Form 10-K of KB Global Holdings Limited (the "Registrant"):

2. Based
 on my knowledge, this 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(s) 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 13-a13a-15(f) and 15d-15(f)) for the Registrant and have:

&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;

&nbsp;&nbsp;&nbsp;&nbsp;b) Designed
such internal control over financial reporting, or caused such internal control over financial reporting 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;

&nbsp;&nbsp;&nbsp;&nbsp;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

&nbsp;&nbsp;&nbsp;&nbsp;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(s) 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;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

&nbsp;&nbsp;&nbsp;&nbsp;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.

---

| | | |
|:---|:---|:---|
| Dated: June 3, 2026 | By: | /s/ Li Guo |
|  |  | Li Guo |
|  |  | Chief Executive Officer |
|  |  | (Principal Executive Officer) |

---

## Exhibit 31.2

**EXHIBIT 31.2**

**CERTIFICATION OF**

 **PRINCIPAL ACCOUNTING OFFICER**

**PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF**

**THE SARBANES-OXLEY ACT OF 2002**

I, Ziyong Hu, certify that:

1. I
 have reviewed this Annual Report on Form 10-K of KB Global Holdings Limited (the "Registrant"):

2. Based
 on my knowledge, this 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(s) 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 13-a13a-15(f) and 15d-15(f)) for the Registrant and have:

&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;

&nbsp;&nbsp;&nbsp;&nbsp;b) Designed
 such internal control over financial reporting, or caused such internal control over financial
 reporting 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;

&nbsp;&nbsp;&nbsp;&nbsp;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

&nbsp;&nbsp;&nbsp;&nbsp;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(s) 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;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

&nbsp;&nbsp;&nbsp;&nbsp;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.

---

| | | |
|:---|:---|:---|
| Dated: June 3, 2026 | By: | /s/ Ziyong Hu |
|  |  | Ziyong Hu |
|  |  | Chief Financial Officer |
|  |  | (Principal Financial Officer and 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 Annual Report of KB Global Holdings Limited (the "Company") on Form 10-K for the year ended December 31, 2025 (the "Report"), I, Li Guo, Chief Executive Officer of the Company, hereby certify pursuant to 18 U.S.C. Section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002, that:

1. The
 Report fully complies with the requirements of Section 13(a) or 15(d), as applicable,
 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 results of operations of the Company.

---

| | | |
|:---|:---|:---|
| Dated: June 3, 2026 | By: | /s/ *Li Guo* |
|  |  | Li Guo |
|  |  | Chief Executive Officer |
|  |  | (Principal Executive Officer) |

---

## Exhibit 32.2

**EXHIBIT 32.2**

**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 Annual Report of KB Global Holdings Limited (the "Company") on Form 10-K for the year ended December 31, 2025 (the "Report"), I, Ziyong Hu, Chief Financial Officer of the Company, hereby certify pursuant to 18 U.S.C. Section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002, that:

1. The
 Report fully complies with the requirements of Section 13(a) or 15(d), as applicable,
 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 results of operations of the Company.

---

| | | |
|:---|:---|:---|
| Dated: June 3, 2026 | By: | /s/ *Ziyong Hu* |
|  |  | Ziyong Hu |
|  |  | Chief Financial Officer |
|  |  | (Principal Financial Officer and Principal Accounting Officer) |

---