OTC: KPEA
Kun Peng International Ltd.CIK 0001502557 · SIC 8200 · Educational Services
The Company is not a Chinese operating company but rather a Nevada holding company with no operations of its own. It conducts its operations through its PRC subsidiary, King Eagle (China), which conducts its operations through contractual agreements with a variable interest entity (“VIE”), King… About this business →
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Latest financial statements
From 10-Q filed Aug 14, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Nine months ended June 30, 2026 | Nine months ended June 30, 2025 |
|---|---|---|---|---|
| Revenue, net | 31,438 | 107,802 | 228,714 | 1,073,606 |
| Cost of revenue | (37,082) | (84,007) | (231,636) | (332,076) |
| Gross profit | (5,644) | 23,795 | (2,922) | 741,530 |
| Operating expenses | ||||
| General and administrative expenses | 229,032 | 231,403 | 672,397 | 1,196,450 |
| Selling expense | 59,777 | 228,126 | 304,142 | 993,742 |
| Total operating expenses | 288,809 | 459,529 | 976,539 | 2,190,192 |
| Loss from operations | (294,453) | (435,734) | (979,461) | (1,448,662) |
| Other income (expenses): | ||||
| Interest income | 3 | - | 78 | 22 |
| Other (expenses) income | (35) | 392,929 | 45,677 | 435,816 |
| Equity in net losses | (196) | - | (20,107) | - |
| Share of loss from investment in associate | - | (2,060) | - | (23,504) |
| Gain from investment | - | - | - | 147,579 |
| Total other income (expenses), net | (228) | 390,869 | 25,648 | 559,913 |
| Loss before income taxes | (294,681) | (44,865) | (953,813) | (888,749) |
| Income tax expense | 5,430 | - | 5,430 | - |
| Net loss | (300,111) | (44,865) | (959,243) | (888,749) |
| Less: Net loss attributable to non-controlling interest | - | - | - | (5,529) |
| Net loss attributable to Kun Peng International Ltd | (300,111) | (44,865) | (959,243) | (883,220) |
| Foreign currency translation adjustment | (152,335) | (103,165) | (423,786) | 137,303 |
| Comprehensive loss | (452,446) | (148,030) | (1,383,029) | (751,446) |
| Less: Comprehensive loss attributable to non-controlling interest | - | (119) | - | (5,468) |
| Comprehensive loss attributable to Kun Peng International Ltd | (452,446) | (147,911) | (1,383,029) | (745,978) |
| Net loss per share attributable to common stockholders | ||||
| Basic and diluted(1) | (0.008) | (0.001) | (0.024) | (0.022) |
| Weighted average shares used to compute net loss per share attributable to common stockholders(1) | 40,000,624 | 40,000,624 | 40,000,624 | 40,000,624 |
Condensed Consolidated Balance Sheets
| Description | June 30, 2026 (Unaudited) | September 30, 2025 (Audited) |
|---|---|---|
| Cash and cash equivalents | 6,606 | 26,284 |
| Trade receivables | 15,001 | - |
| Prepaid expenses and other current assets, net | 21,945 | 33,771 |
| Other receivables | 39,663 | 101,687 |
| Inventory | 40,326 | 6,086 |
| Amounts due from related parties | 88,532 | 331,619 |
| Assets held for sale | 168,827 | - |
| Total current assets | 380,900 | 499,447 |
| Noncurrent assets | ||
| Property and equipment, net | 35,706 | 118,508 |
| Intangible assets, net | 2,070 | 2,255 |
| Operating lease right-of-use assets | 4,834 | 89,073 |
| Finance lease right-of-use assets | - | 111,931 |
| Investment in associate held for sale | - | 19,595 |
| Total noncurrent assets | 42,610 | 341,362 |
| Total assets | 423,510 | 840,809 |
| Liabilities | ||
| Current liabilities | ||
| Short-term borrowing | - | 100,014 |
| Trade and other payables | 3,076,737 | 3,642,395 |
| Contract liabilities | 477,603 | 294,618 |
| Payroll payable | 103,384 | 162,534 |
| Tax payable | 145,366 | 129,387 |
| Amounts due to related parties | 4,027,309 | 4,537,914 |
| Operating lease obligations, current portion | 4,141 | 52,017 |
| Finance lease obligations, current portion | - | 75,765 |
| Liabilities held for sale | 2,159,840 | - |
| Total current liabilities | 9,994,380 | 8,994,644 |
| Noncurrent liabilities | ||
| Operating lease obligations, net of current portion | - | 34,006 |
| Total noncurrent liabilities | - | 34,006 |
| Total liabilities | 9,994,380 | 9,028,650 |
| Commitment and contingencies | - | - |
| Equity | ||
| Preferred stock, $0.0001 par value, 10,000,000 shares authorized; no shares issued and outstanding as of June 30, 2026 and September 30, 2025 | - | - |
| Common stock, $0.001 par value, 100,000,000 shares authorized; 40,000,624 shares issued and outstanding as of June 30, 2026 and September 30, 2025 (1) | 40,001 | 40,001 |
| Additional paid-in capital (1) | 524,941 | 524,941 |
| Accumulated deficits | (9,997,227) | (9,037,984) |
| Accumulated other comprehensive income | (138,585) | 285,201 |
| Total stockholders’ equity | (9,570,870) | (8,187,841) |
| Non-controlling interests | - | - |
| Total equity | (9,570,870) | (8,187,841) |
| Total liabilities and equity | 423,510 | 840,809 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
| Description | Nine months ended June 30, 2026 | Nine months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities | ||
| Net loss | (959,243) | (888,749) |
| Adjustments to reconcile net loss to net cash provided by operating activities | ||
| Depreciation and amortization | 40,317 | 115,408 |
| Amortization of right-of-use assets | 225,799 | 293,242 |
| Share of profit from investment in associate | - | 23,504 |
| Equity in net losses | 20,107 | - |
| Gain on investment of a subsidiary | - | (147,579) |
| Gain on disposal of equipment | (28,062) | - |
| Loss on disposal of equipment | 32,089 | - |
| Non-cash lease expense | 2,892 | - |
| Unrealized gain on assets held for sale | (343) | - |
| Changes in operating assets and liabilities | ||
| Advance and prepayments | 8,016 | 146,902 |
| Other receivables | 4,603 | 124,413 |
| Security deposits | - | 1,811 |
| Inventory | (33,719) | 7,280 |
| Trade payables | (14,280) | 1,822,702 |
| Other payables and accrual | 126,236 | 1,152,448 |
| Deferred revenue | (65,423) | (63,277) |
| Payroll payable | 93,724 | 64,981 |
| Amounts due to related parties | 407,539 | (2,438,891) |
| Tax payable | (5,948) | (9,779) |
| Operating lease liabilities | (82,997) | (134,945) |
| Amounts due from related parties | 250,526 | - |
| Net cash provided by operating activities | 21,833 | 69,471 |
| Cash flows from investing activities | ||
| Acquisition of intangible assets | - | (30,412) |
| Net cash used in investing activities | - | (30,412) |
| Cash flows from financing activities | ||
| (Repayments to) proceeds from bank borrowings | (4,324) | 98,457 |
| Payment of finance lease liabilities | (35,934) | (157,187) |
| Net cash used in financing activities | (40,258) | (58,730) |
| Effect of exchange rate changes on cash | (1,253) | (2,599) |
| Net change in cash and cash equivalents | (19,678) | (22,270) |
| Cash and cash equivalents, beginning balance | 26,284 | 82,184 |
| Cash and cash equivalents, ending balance | 6,606 | 59,914 |
| Supplementary cash flows information: | ||
| Cash paid for interest | 2,915 | - |
| Cash paid for income tax | 5,430 | - |
| Supplemental disclosures of noncash transactions | ||
| Right-of-use assets acquired with operating lease obligation | 195,520 | - |
Amounts as printed on the EDGAR/iXBRL face. Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗
About Kun Peng International Ltd.
Source: Item 1 (Business) from the 10-K filed December 31, 2025. Description as filed by the company with the SEC.
ITEM
1. BUSINESS
Regulatory
Overview - Legal and Operational Risks
The
Company is not a Chinese operating company but rather a Nevada holding company with no operations of its own. It conducts its
operations through its PRC subsidiary, King Eagle (China), which conducts its operations through contractual agreements with a
variable interest entity (“VIE”), King Eagle (Tianjin), and its subsidiaries (i) King Eagle (Beijing), incorporated on
December 1, 2022; (ii) King Eagle (Huai’an), incorporated on September 19, 2023 (deregistered on August 28, 2025); (iii) Kun
Zhi Jian (Huai’an), incorporated on October 26, 2023 (deregistered on August 28, 2025); (iv) Kun Zhi Jian (Shandong),
incorporated on January 30, 2024; (v) Chengdu Wenjiang, incorporated on February 1, 2024; (vi) Kun Pin Hui (Shandong), incorporated
on April 7, 2024; (vii) King Eagle (Hangzhou), incorporated on July 18, 2024 (55% was disposed during the year and as at September
30, 2025 it is 40% owned by King Eagle VIE); and (viii) Kun Yu (Hainan), incorporated on August 20, 2025. Please
see “- Corporate History and Structure - Contractual Arrangements” below.
The
VIE structure involves unique risks to shareholders and investors. It is used to provide investors with contractual exposure to foreign
investment in China-based companies where Chinese law prohibits or restricts direct foreign investment in the operating companies. Due
to PRC legal restrictions on foreign ownership in certain businesses, we do not have any equity ownership of the VIE or its subsidiaries;
instead, we receive the economic benefits of the VIE’s business operations through certain contractual arrangements.
Read full description ↓
As
a result of such series of contractual arrangements, King Eagle (China) is the primary beneficiary of the VIE for accounting purposes
and the VIE is a PRC consolidated entity under U.S. GAAP. The Company consolidates the financial results of the VIE and its subsidiaries
in its consolidated financial statements in accordance with U.S. GAAP. Neither the Company nor its investors own any equity interest
in, have direct foreign investment in, or control through any such ownership of or investment in the VIE. As a result, investors in the
Company’s common stock are not purchasing an equity interest in the VIE or in its subsidiaries, but instead are purchasing an equity
interest in KPIL, the Nevada holding company. These contractual arrangements have not been tested in a court of law in the PRC. Moreover,
the binding rights over the VIE’s subsidiaries in the contractual arrangements between King Eagle (China) and King Eagle (Tianjin)
are implicit and indirect and the company laws and regulations in the PRC governing the business operations of the VIE’s subsidiaries
are uncertain.
Risks
Related to our VIE Structure
●
PRC
laws and regulations prohibit or restrict foreign ownership of companies that operate Internet information and content, value added
telecommunications, and certain other businesses in which we are engaged or could be deemed to be engaged. Consequently, our operations
and business in the PRC are conducted through contractual arrangements (“VIE Agreements”) with King Eagle VIE. If the
Chinese government should disallow or limit the use of the VIE, it could materially and adversely affect our business, which could
result in your shares significantly declining in value or becoming worthless. See “