AIXN — what changed in the latest 10-K

Text removed vs the prior filing · source: 10-K · 2025-05-07

• On February 17, 2023, we effected a 1-for-2 reverse split of our shares of common stock reducing the number of shares of our outstanding common stock from 49,999,891 to 24,999,834. Except as otherwise indicated, all share and per share numbers contained herein including those set forth in the financ…

Text added vs the prior filing · source: 10-K · 2026-05-15

• We incurred net losses in 2025 and 2024 and may not be able to continue to operate as a going concern.

• We incurred a net loss of $2,042,463 and $2,768,341 for the years ended December 31, 2025 and 2024, respectively, and used net cash in operating activities of $2,034,331 and $1,628,834 for the years ended December 31, 2025 and 2024, respectively. We had a working capital deficit of $7,476,418 as of …

• Unless we are able to consistently increase our revenues and generate positive cash flows from operations, we will continue to depend upon further issuances of debt, equity or other financings to fund ongoing operations. We may continue to incur additional operating losses and we cannot assure you t…

Text removed vs the prior filing · source: 10-K · 2025-05-07

• Our efforts to utilize our hotel in Chengdu City to conduct marketing events for customers and training sessions for our employees may not anticipated benefits.

• We envision using the hotel we acquired in Chengdu City to conduct marketing events for our customers and training sessions for our personnel. These efforts may not result in increased sales and may not improve our ability to train our personnel.

• The failure to maintain permits and licenses could adversely impact our operations.

• The manufacture and distribution of food products, and the sale of food and beverages at our hotel, as well as other aspects of our business, require that we maintain various permits and licenses and conduct our operations in accordance with applicable safety requirements and other regulations. Shou…

• Competitors could steal our market share by offering lower prices.

Text added vs the prior filing · source: 10-K · 2026-05-15

• On August 30, 2024, Zhangjiagang People’s Court in Jiangsu Province issued a Notice of Case Closure, stating the Judgement for this case was fully executed and the plaintiff has received the full execution amount as of August 30, 2024.

• Our common stock is quoted on OTCQB under the symbol “AIXN.”

• On September 30, 2022, we acquired all of the outstanding equity of Yunnan Runcangsheng Technology Co., Ltd (“Runcangsheng”). Runcangsheng was established in April 2020, and is headquartered in Luquan Yi and Miao Autonomous County, Kunming City, Yunnan Province.

• We operate as four operating and reporting segments. Operating segments are defined as components of a business that can earn revenue and incur expenses and for which discrete financial information is evaluated regularly by the chief operating decision maker (CODM) in deciding how to allocate resour…

• The following table sets forth the results of our operations for the periods indicated as a percentage of net revenue, certain columns may not add due to rounding:

Text removed vs the prior filing · source: 10-K · 2025-05-07

• In October, 2023, a number of individuals accused Mr. Lin, acting through Sichuan Aixin Investment Co., Ltd. and Chengdu Aixin E-commerce Co., Ltd., entities controlled by Mr. Lin, of raising funds illegally. These individuals had deposited money for healthcare products with Sichuan Aixin Investment…

• All of the claims were resolved in 2024 when Mr. Lin and Aixin Zhonghong Biological Technology Co., Ltd. entered into a settlement agreement with all the claimants. All amounts to be paid pursuant to the Settlement Agreement were advanced by Mr. Lin and the claimants have applied to Chengdu Public S…

• The Company believes that current pending litigation will not have a material adverse effect on its consolidated financial position, results of operations or cash flows. As noted above, however, until Chengdu Public Security Bureau Jinjiang District Branch confirms in writing that it has withdrawn t…

• Our common stock is quoted on OTCQB under the symbol “AIXN.” From January 22, 2021 until June 5, 2023, our common stock was quoted on OTCQX under the symbol “AIXN.”

• Number of securities to be issued upon exercise of outstanding options

Text added vs the prior filing · source: 10-K · 2026-05-15

• On September 30, 2022, we acquired all of the outstanding equity of Yunnan Runcangsheng Technology Co., Ltd (“Runcangsheng”). Runcangsheng was established in April 2020, and is headquartered in Luquan Yi and Miao Autonomous County, Kunming City, Yunnan Province.

• We operate as four operating and reporting segments. Operating segments are defined as components of a business that can earn revenue and incur expenses and for which discrete financial information is evaluated regularly by the chief operating decision maker (CODM) in deciding how to allocate resour…

• The following table sets forth the results of our operations for the periods indicated as a percentage of net revenue, certain columns may not add due to rounding:

• The following table shows the Company’s operations by business segment for the years ended December 31, 2025 and 2024.

• Our direct products sales revenue was $171,949 for the year ended December 31, 2025, compared with $504,097 in the same period of 2024, representing a decrease of $332,148 or 66%. Our direct sales revenue as a percentage of our total revenue was 12% for 2025, compared to 13% for 2024. The decrease i…

Text removed vs the prior filing · source: 10-K · 2025-05-07

• On September 30, 2022, we acquired all of the outstanding equity of Yunnan Runcangsheng Technology Co., Ltd (“Runcangsheng”) for RMB 31,557,820 (approximately USD$4.4 million), reduced by $116,802 the excess of the estimated net worth of Runcangsheng over its audited net worth as of December 31, 202…

• The following table sets forth the results of our operations for the years indicated as a percentage of net revenue, certain columns may not add due to rounding:

• The following table shows the Company’s operations by business segment for the years ended December 31, 2024 and 2023.

• Revenue was $3,824,301 in the year ended December 31, 2024, compared to $4,089,799 in 2023, a decrease of $265,498 or 6%. The decrease in revenue was due to decreases in direct sales of our nutritional products and pharmacy sales, and a decrease in our hotel segment, which was partly offset by an in…

• Our direct sales revenue as a percentage of our total revenue was 13% for 2024, compared to 28% for 2023. The decrease in direct sales revenue was mainly due to the economic downturn as marketing and promotional activities become more challenging compared to last year. Additionally, due to reduced s…

Text added vs the prior filing · source: 10-K · 2026-05-15

• Qiyu Jiang was appointed to our Board of Directors April 15, 2026. Mr. Jiang graduated from the INSEEC Paris School of Business in March 2015. Mr. Jiang became a Chartered Financial Analyst Level I Candidate in June 2024 and received a Legal Professional Qualification Certificate in August 2021. Fro…

• (2) Amounts attributed to Mr. Zheng represent amounts paid by the Company’s subsidiary, Chengdu Aixin Zhonghong Biological Technology Co., Ltd.

Text removed vs the prior filing · source: 10-K · 2025-05-07

• Yao-Te Wang has served as a director of our Company since December 12, 2017. He became our Secretary on June 20, 2023. Mr. Wang has been the Chief Executive Officer of Ivy Service Group (China), which is a transnational consultant company in China, since 2015. From January 2016 to June 2016, Mr. Wan…

• (2) Amounts attributed to Ms. Li represent amounts paid as CFO of AiXinZhonghong. Ms. Li resigned from her position with the Company effective January 7, 2025.

• In October 2019, we issued an aggregate of 293,750 shares to employees and contractors under the 2019 Equity Incentive Plan.