AiXin Life International, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>AiXin Life International, Inc. has filed its 2023 annual report (10-K) detailing its financial performance and business operations.</b>

AI Summary

AiXin Life International, Inc. (AIXN) filed a Annual Report (10-K) with the SEC on April 8, 2024. AiXin Life International, Inc. filed its 2023 Form 10-K on April 8, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business address is in Chengdu City, China. AiXin Life International, Inc. was formerly known as MERCARI COMMUNICATIONS GROUP LTD. The SIC code for the company is 5912 (Retail-Drug Stores and Proprietary Stores).

Why It Matters

For investors and stakeholders tracking AiXin Life International, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of AiXin Life International's financial health and operational status for the fiscal year 2023, which is crucial for investors to assess the company's performance and future prospects. The filing includes detailed financial statements, risk factors, and other disclosures that are essential for regulatory compliance and for stakeholders to make informed investment decisions.

Risk Assessment

Risk Level: medium — AiXin Life International, Inc. shows moderate risk based on this filing. The company's business is concentrated in China, which presents specific market and regulatory risks. The filing does not provide detailed financial performance data to assess current financial health, necessitating a medium risk assessment.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 10-K to understand AiXin Life International's operational performance and potential challenges in the Chinese market.

Key Numbers

• 20231231 — Fiscal Year End (Conformed period of report)
• 20240408 — Filing Date (Filed as of date)
• 19880707 — Date of Name Change (Former company name change date)

Key Players & Entities

• AiXin Life International, Inc. (company) — Filer name
• MERCARI COMMUNICATIONS GROUP LTD (company) — Former company name
• Chengdu City (location) — Business address city
• 5912 (other) — Standard Industrial Classification code

FAQ

Risk Factors

• Concentration of Business Operations [medium — market]: The company's operations are primarily concentrated in China, exposing it to risks associated with the Chinese market, including economic, political, and regulatory changes.

Industry Context

AiXin Life International, Inc. operates within the retail drug store and proprietary store sector, as indicated by its SIC code. The company's business is primarily based in China.

Regulatory Implications

The filing is a standard 10-K report required by the SEC for public companies, ensuring transparency and compliance with U.S. securities laws.

What Investors Should Do

1. Review the detailed financial statements for the fiscal year ended December 31, 2023.
2. Analyze the risk factors section to understand potential challenges and uncertainties.
3. Investigate the company's business operations and market focus in China.

Key Dates

• 2023-12-31: Fiscal Year End — The end date for the reporting period covered by the 10-K.
• 2024-04-08: Filing Date — The date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This filing is the 2023 Form 10-K, providing the latest annual financial and operational data for AiXin Life International, Inc.

Key Financial Figures

• $0.00001 — ction 12(g) of the Act: Common Stock, $0.00001 par value (Title of class) Indicate
• $2.99 — held by non-affiliates, and a price of $2.99 per share, which was the last reported

Filing Documents

• form10-k.htm (10-K) — 1392KB
• ex19-1.htm (EX-19.1) — 28KB
• ex23-1.htm (EX-23.1) — 3KB
• ex31-1.htm (EX-31.1) — 8KB
• ex31-2.htm (EX-31.2) — 8KB
• ex32-1.htm (EX-32.1) — 4KB
• ex32-2.htm (EX-32.2) — 4KB
• ex99-1.htm (EX-99.1) — 18KB
• form10-k_001.jpg (GRAPHIC) — 10KB
• form10-k_002.jpg (GRAPHIC) — 8KB
• form10-k_003.jpg (GRAPHIC) — 5KB
• 0001493152-24-013947.txt (&nbsp;) — 6838KB
• aixn-20231231.xsd (EX-101.SCH) — 61KB
• aixn-20231231_cal.xml (EX-101.CAL) — 93KB
• aixn-20231231_def.xml (EX-101.DEF) — 241KB
• aixn-20231231_lab.xml (EX-101.LAB) — 420KB
• aixn-20231231_pre.xml (EX-101.PRE) — 338KB
• form10-k_htm.xml (XML) — 934KB

Business

Business 4 Item 1A

Risk Factors

Risk Factors 9 Item 1B Unresolved Staff Comments 31 Item 1C Cybersecurity Policy 31 Item 2

Properties

Properties 32 Item 3

Legal Proceedings

Legal Proceedings 32 Item 4 Mine Safety Disclosures 33 Part II Item 5 Market For Registrant's Common Equity, Related Stockholder Matters And Issuer Purchases Of Equity Securities 33 Item 6 [Reserved] Item 7

Management's Discussion And Analysis Of Financial Condition And Results Of Operations

Management's Discussion And Analysis Of Financial Condition And Results Of Operations 35 Item 7A

Quantitative And Qualitative Disclosures About Market Risk

Quantitative And Qualitative Disclosures About Market Risk 41 Item 8

Financial Statements And Supplementary Data

Financial Statements And Supplementary Data 41 Item 9 Changes In And Disagreements With Accountants On Accounting And Financial Disclosure 41 Item 9A

Controls And Procedures

Controls And Procedures 41 Item 9B Other Information 42 Item 9C Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 42 Part III Item 10 Directors And Executive Officers And Corporate Governance 42 Item 11

Executive Compensation

Executive Compensation 46 Item 12

Security Ownership Of Certain Beneficial Owners And Management And Related Stockholder Matters

Security Ownership Of Certain Beneficial Owners And Management And Related Stockholder Matters 47 Item 13 Certain Relationships And Related Transactions, And Director Independence 47 Item 14 Principal Accountant Fees And Services 49 Part IV Item 15 Exhibits And Financial Statement Schedules 50 Consolidated Financial Statements 50 2 SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS This Annual Report on Form 10-K includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking "intends," "may," "plans," "potential," "predicts," "projects," "should," "would" and similar expressions intended to identify forward-looking statements. Forward-looking statements reflect our current views with respect to future events and are based on assumptions and are subject to risks and uncertainties. Given these uncertainties, you should not place undue reliance on forward-looking statements. Forward-looking statements include, among other things, statements relating to: our goals and strategies; our future business development, financial condition and results of operations; our expectations regarding demand for, and market acceptance of, our products; our expectations regarding keeping and strengthening our relationships with merchants, manufacturers and end-users; and general economic and business conditions in the regions where we provide our services. Also, forward-looking statements represent our estimate

Business

Business Objectives Key elements of our strategy are detailed below: Leading brand of nutritional supplements. Our primary goal is to develop recognized brand names with a reputation as a provider of quality health and wellness products which deliver demonstrable benefits to our customers. Our objective is to provide members of the growing Chinese middle class with the information necessary to maintain a healthy lifestyle and to offer them a broad and deep mix of products whether the customer is looking to treat a specific health-related issue, maintain their overall wellness or improve their performance. Our premium, value-added offerings will include both proprietary branded products and other branded products provided by third parties to meet needs not met by our in-house products. We believe that by offering a variety of branded exclusive products and a wide range of merchandise, and close customer support and services, we will be able to differentiate our Company from competitors and effectively compete against other food, drug and mass channel players, specialty stores, independent vitamin, supplement and natural food shops and online retailers. We further believe that if we succeed in developing and maintaining a positive reputation, we will be able to offer additional products and services to our clients. Product development and innovation. With the acquisition of Yunnan Runcangsheng we have the facilities and, more importantly, knowledgeable, experienced personnel, to develop high-quality, innovative health foods and nutritional supplements that will be offered by our direct marketing team and available through our company-owned pharmacies, our website and, as demand grows other, select marketplaces and wholesale partners. To the extent desirable we will grow some of the key ingredients in our products. When we choose to use ingredients of third parties, they will be rigorously tested before they are added to our products, undergoing multiple qualit

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View this 10-K filing on SEC EDGAR