MWYN — what changed in the latest 10-K

Text added vs the prior filing · source: 10-K · 2026-07-30

• Marwynn Holdings, Inc., or “Marwynn,” was incorporated on February 27, 2024 in Nevada, as a holding company. We currently operate, or are developing operations, in three principal business areas: (i) electronic waste recycling (“E-waste Business”) through EcoLoopX Corporation (“EcoLoopX”); (ii) adva…

• As part of our business diversification strategy, we incorporated EcoLoopX on November 25, 2025. Its current strategy is to develop direct e-waste recycling operations and the capability to produce “black mass,” an intermediate material derived from processed lithium-ion batteries that may contain r…

• On June 9, 2026, EcoLoopX hired Frank Xu as its sales director. Mr. Xu is responsible for diversifying EcoLoopX’s e-waste collection channels, developing corporate business-to-business electronic disposal networks, and supporting business development initiatives throughout the United States. Current…

• On March 27, 2026, we incorporated NexaCore to explore opportunities involving advanced artificial intelligence application development and related infrastructure solutions, which we refer to as our “AI and Infrastructure Services.” NexaCore remains in the development stage, and we are continuing to…

• Through FuAn, we provide food and beverage supply chain and brand management services in the United States. FuAn was incorporated in California on April 18, 2016 and historically focused on sourcing authentic premium Asian foods, snacks and non-alcoholic beverages, distributing branded products in t…

Text removed vs the prior filing · source: 10-K · 2025-08-08

• Marwynn Holdings, Inc., or “Marwynn,” was incorporated on February 27, 2024 in Nevada, as a holding company and operates in two business segments to provide food and beverage supply chain and brand management services, and indoor home improvement products to dealers and retail customers.

• FuAn is a food and beverage supply chain company that specializes in connecting businesses between different regions, particularly between Asia and the U.S. Currently, FuAn’s comprehensive supply chain services include the sourcing of Asian food, snacks, and non-alcoholic beverages, and distributing…

• Our supply chain platform specializes in facilitating wholesale (Business-to-Business, “B2B”) with a strong focus on food and non-alcoholic beverage products, particularly Asian food and beverages. By connecting businesses in Asia with those in the U.S. through our wholesale channels, we enhance mar…

• ●We begin with an initial consultation with our business customers to understand their needs, followed by account setup on our internal system. Our website, http://www.fuanus.com, also provides detailed product information.

• ●Businesses browse our product catalog to select bulk products, while we verify suppliers to ensure quality.

Text added vs the prior filing · source: 10-K · 2026-07-30

• Our management team lacks significant operational experience in the big data AI platform and battery recycling industries, and our failure to successfully manage our entry into these markets could have a material adverse effect on our business, financial condition, and results of operations.

• Historically, our core business has not involved big data artificial intelligence infrastructure, e-waste recycling, or the industrial production of black mass. Consequently, our executive officers and management team have limited direct experience managing the unique technical, regulatory, and comm…

• We operate in the highly competitive markets of food and beverage supply chain management, big data AI platform hubs, e-waste recycling, and black mass production, and we expect to incur substantial losses without generating significant near-term revenue due to recent expansions.

• We face intense competition across all of our targeted operating segments. The big data AI platform sector is dominated by well-capitalized technology companies with established infrastructure and stable cooperations among partners, while the e-waste and battery recycling markets include both legacy…

• We currently hold no patents for our big data AI platform or battery processing technologies, which limits our ability to protect our intellectual property and exposes us to intense competition and potential infringement claims.

Text removed vs the prior filing · source: 10-K · 2025-08-08

• We may need additional funding in order to fund our existing commercial operations, commercialize new products and grow our business.

• To date, we have financed our operations through our IPO, loans from some of our stockholders, and private placements of our equity. We have devoted substantially all our financial resources and efforts to developing our products, workforce, and supply chain. Our long-term growth and success are dep…

• Based on our current business plan, we believe the net proceeds from our IPO, together with our current cash and cash equivalents and cash receipts from sales, will enable us to conduct our planned operations for at least the next twelve months. If our available cash balances, net proceeds from our …

• We may consider raising additional capital in the future to expand our business, to pursue strategic investments, to take advantage of financing opportunities or for other reasons, including to:

• ●increase our sales and marketing efforts and address competitive developments;

Text added vs the prior filing · source: 10-K · 2026-07-30

• Unless otherwise indicated or the context otherwise requires and for purposes of this report only, references to:

• ●the “Company,” “the registrant,” “we,” “us,” “our” and “Marwynn” are to Marwynn Holdings, Inc., a Nevada corporation incorporated on February 27, 2024, and its consolidated subsidiaries, except where expressly noted otherwise or the context otherwise requires;

• ●“FuAn” means FuAn Enterprise, Inc., a California corporation incorporated, on April 18, 2016, and a wholly-owned subsidiary of Marwynn, which represents our legacy food and beverage operations;

• ●“EcoLoopX” means EcoLoopX Corporation, a California corporation incorporated on November 25, 2025, and a wholly-owned subsidiary of Marwynn; and

• ●“NexaCore” means Nexacore Technologies, Inc., a Delaware corporation incorporated on March 27, 2026, and a wholly-owned subsidiary of Marwynn.

Text removed vs the prior filing · source: 10-K · 2025-08-08

• Unless the context otherwise requires, the terms “the Company,” “our Company,” “we,” “us,” and “our” refer to Marwynn Holdings, Inc., a Nevada corporation, and its consolidated subsidiaries.

• ●Our business is exposed to risks inherent in international operations.

• ●We have a limited operating history in our current form and have incurred significant operating losses.

• ●We may need additional funding in order to fund our existing commercial operations, commercialize new products and grow our business.

• ●If we fail to effectively manage our growth, our business, financial condition and operating results could be harmed.

Text added vs the prior filing · source: 10-K · 2026-07-30

• Marwynn Holdings, Inc., or “Marwynn,” was incorporated on February 27, 2024 in Nevada, as a holding company. We currently operate, or are developing operations, in three principal business areas: (i) electronic waste recycling (“E-waste Business”) through EcoLoopX Corporation (“EcoLoopX”); (ii) adva…

• As part of our business diversification strategy, we incorporated EcoLoopX on November 25, 2025. Its current strategy is to develop direct e-waste recycling operations and the capability to produce “black mass,” an intermediate material derived from processed lithium-ion batteries that may contain r…

• On June 9, 2026, EcoLoopX hired Frank Xu as its sales director. Mr. Xu is responsible for diversifying EcoLoopX’s e-waste collection channels, developing corporate business-to-business electronic disposal networks, and supporting business development initiatives throughout the United States. Current…

• On March 27, 2026, we incorporated NexaCore to explore opportunities involving advanced artificial intelligence application development and related infrastructure solutions, which we refer to as our “AI & Infrastructure Services.” NexaCore remains in the development stage, and we are continuing to e…

• Through FuAn, we provide food and beverage supply chain and brand management services in the United States. FuAn was incorporated in California on April 18, 2016 and historically focused on sourcing authentic premium Asian foods, snacks and non-alcoholic beverages, distributing branded products in t…

Text removed vs the prior filing · source: 10-K · 2025-08-08

• Marwynn Holdings, Inc. (“Marwynn” or the “Company”) was incorporated in the state of Nevada on February 27, 2024. The Company is a holding company with no material operations of its own, Marwynn conducts substantially all its operations through its wholly-owned subsidiaries FuAn Enterprise, Inc (“Fu…

• FuAn was incorporated in the state of California on April 18, 2016. FuAn is a food and non-alcoholic beverage supply chain company that specializes in connecting businesses between different regions, particularly between Asia and the U.S. FuAn’s comprehensive supply chain services include the sourci…

• Grand Forest was incorporated in the state of California on February 22, 2021. Grand Forest is an indoor home improvement supply chain provider that focus on providing high-quality kitchen cabinets, flooring, and home improvement products sourced from international suppliers. Grand Forest focuses on…

• During the first quarter of 2025, the United States has introduced trade policy actions that have increased import tariffs across a wide range of countries at various rates, including on product imports from almost all countries and individualized higher tariffs on certain other countries, such as C…

• We have temporarily paused certain imports from China and are actively pursuing alternative sourcing strategies, including domestic suppliers and international partners in lower-risk regions. In addition, trade-related disruptions—such as shipping delays, port congestion, or container shortages—can …

Text added vs the prior filing · source: 10-K · 2026-07-30

• Unless otherwise indicated or the context otherwise requires and for purposes of this report only, references to:

• ●the “Company,” “the registrant,” “we,” “us,” “our” and “Marwynn” are to Marwynn Holdings, Inc., a Nevada corporation incorporated on February 27, 2024, and its consolidated subsidiaries, except where expressly noted otherwise or the context otherwise requires;

• ●“FuAn” means FuAn Enterprise, Inc., a California corporation incorporated, on April 18, 2016, and a wholly-owned subsidiary of Marwynn, which represents our legacy food and beverage operations;

• ●“EcoLoopX” means EcoLoopX Corporation, a California corporation incorporated on November 25, 2025, and a wholly-owned subsidiary of Marwynn; and

• ●“NexaCore” means Nexacore Technologies, Inc., a Delaware corporation incorporated on March 27, 2026, and a wholly-owned subsidiary of Marwynn.

Text removed vs the prior filing · source: 10-K · 2025-08-08

• Unless the context otherwise requires, the terms “the Company,” “our Company,” “we,” “us,” and “our” refer to Marwynn Holdings, Inc., a Nevada corporation, and its consolidated subsidiaries.

• ●Our business is exposed to risks inherent in international operations.

• ●We have a limited operating history in our current form and have incurred significant operating losses.

• ●We may need additional funding in order to fund our existing commercial operations, commercialize new products and grow our business.

• ●If we fail to effectively manage our growth, our business, financial condition and operating results could be harmed.