Mkdwell Tech Inc's Business Segments

MKD Taiwan, established in 2006, initially specialized in business marketing and product design, outsourcing manufacturing to contract manufacturers in Taiwan and Mainland China. In 2010, MKD incorporated MKD Samoa as an intermediate holding company, followed by the establishment of MKD Shanghai in 2011 to enter the Mainland China automobile market. To increase production capacity and support customized manufacturing, MKD founded MKD Jiaxing in China in 2018, operating its own production facility. MKD Taiwan raised working capital through a share offering in 2015. In 2022, working capital loans from shareholder and senior management member Ming-Chao Huang were converted into a 42% equity stake in MKD Jiaxing. In 2023, MKD Taiwan reorganized through MKD BVI, a shell company owned by director and CEO Ming-Chia Huang, to facilitate a business combination with Cetus Capital Acquisition Corp. That same year, MKDWELL Technology Inc. was incorporated in the British Virgin Islands to serve as the publicly traded entity following the business combination. In 2024, MKD entered into a convertible note agreement with Streeterville Capital, LLC, involving the issuance of unsecured promissory notes convertible into ordinary shares, with specified terms including interest, conversion rights, and prepayment options. MKD’s operations focus on product design, marketing, and manufacturing within the automotive sector, emphasizing expanded production capabilities in China.

The Company operates as a single reportable segment, as identified by the Chief Executive Officer, who serves as the chief operating decision maker. It uses consolidated results of operations for resource allocation and performance evaluation. The Company does not differentiate between markets or segments in its internal reporting. Due to the substantial location of its long-lived assets in the PRC, no geographical segments are reported.