Li Bang International Inc's Business Segments

Li Bang International Corporation Inc., incorporated in the Cayman Islands in 2021, is a holding company with operations conducted in China through its subsidiaries. These subsidiaries design, develop, manufacture, and sell stainless steel commercial kitchen equipment under the "Li Bang" brand. They also provide commercial kitchen design, equipment installation, and after-sales maintenance services. The company operates a production facility in China exceeding 10,000 square meters, equipped with modern technology and advanced processes. Recognized as a new technology enterprise in Jiangsu Province, Li Bang International benefits from national support for research and development and holds core independent intellectual property rights. One subsidiary, Li Bang Kitchen Appliance Co., Limited, qualifies for a preferential 15% corporate income tax rate. The company focuses on technology research and development to obtain national invention patents, utility model patents, and system certifications. Its products are included in the Government Energy-Saving Equipment Catalog. The operating subsidiaries primarily engage in middle- and high-end commercial kitchen appliance projects.

The Company determines its reportable operating segments based on its management approach, considering the internal organization and reporting to the CEO, who serves as the chief operating decision maker (CODM). Management has assessed that the Company has only one operating segment, which constitutes the sole reportable segment under ASC 280. The Company's assets, revenues, and expenses are predominantly located and generated in the People's Republic of China (PRC), and therefore, no geographical segments are reported.