INLIF LIMITED Reports Fiscal Year 2024 Financial Results

, /PRNewswire/ -- INLIF LIMITED (Nasdaq: INLF) (the "Company" or "INLIF"), a company engaged in the research, development, manufacturing, and sales of injection molding machine-dedicated manipulator arms, today announced its financial results for the year ended December 31, 2024. Mr. Rongjun Xu, the chief executive officer of INLIF, remarked, "We are thrilled to report the performance for fiscal year 2024, with growth recorded across revenue, gross profit, and net income. This success was fueled by sustained demand from existing clients and new customers acquired through our strategic marketing initiatives. Our strategic expansion also played a pivotal role in driving sales growth and penetrating new sectors and emerging markets. These combined efforts resulted in a 25.26% year-over-year increase in revenue. As sales increased, our gross margin declined slightly to 28.83%, which contributed to a 9.49% increase in gross profit, highlighting our profitability and effective cost control measures. "In preparation for our Nasdaq listing and to unlock greater opportunities in new markets, we launched proactive marketing campaigns and offered attractive incentive commissions to enhance brand recognition and order acquisition. These efforts included participation in exhibitions across China and exploration of overseas markets, particularly in Southeast Asia and India. Meanwhile, we have supported our revenue growth with only a moderate increase in operational costs. We continued to invest in research and development, and we plan to accelerate the acquisition of talents, patents, and technologies to meet the evolving and diversifying needs of the market. "Thanks to the outstanding efforts of our team and the strong execution of our strategic initiatives, net income rose by 18.78% during our first financial report post-listing. Looking ahead, we anticipate opportunities for continued growth and development, supported by the enhanced visibility and access to capital provided by our Nasdaq listing. In addition, the rise of emerging technology innovations and the increasing adoption of automation infrastructure are expected to significantly accelerate growth in the manipulator arms industry. We are confident that our proactive and pragmatic business strategies will place us on a sustainable and thriving path, delivering long-term value to the Company and our shareholders." Fiscal Year 2024 Financial Highlights Net revenue was $15.80 million for fiscal year 2024, representing an increase of 25.26% from $12.61 million for fiscal year 2023. Gross profit was $4.55 million for fiscal year 2024, representing an increase of 9.49% from $4.16 million for fiscal year 2023. Gross profit margin was 28.83% for fiscal year 2024, compared to 32.98% for fiscal year 2023. Net income was $1.61 million for fiscal year 2024, representing an increase of 18.78% from $1.35 million for fiscal year 2023. Basic and diluted earnings per share were $0.13 for fiscal year 2024, compared to $0.11 for fiscal year 2023. Fiscal Year 2024 Financial Results Net Revenue Net revenue was $15.80 million for fiscal year 2024, representing an increase of 25.26% from $12.61 million for fiscal year 2023. The increase was primarily attributable to (i) an increase in sales of manipulator arms, including installation and warranty services, by approximately $0.51 million; (ii) an increase in sales of manipulator arms accessories by approximately $0.44 million; (iii) an increase in sales of raw materials and scraps by approximately $2.27 million; and (iv) a decrease in sales of installation services by approximately $0.04 million. Sales of manipulator arms and installation and warranty services were $10.33 million for fiscal year 2024, representing an increase of 5.23% from $9.82 million for fiscal year 2023. Sales of accessories were $1.44 million for fiscal year 2024, representing an increase of 44.08% from $1.00 million for fiscal year 2023. Sales of raw materials and scraps were $3.93 million for fiscal year 2024, representing an increase of 136.61% from $1.66 million for fiscal year 2023. Sales of installation services were $95,442 for fiscal year 2024, representing a decrease of 29.14% from $134,697 for fiscal year 2023. Cost of Revenue Cost of revenue was $11.24 million for fiscal year 2024, representing an increase of 33.03% from $8.45 million for fiscal year 2023. The increase was primarily attributable to the Company's business growth and an increase in sales resulting in an increase in costs accordingly. Gross Profit and Gross Profit Margin Gross profit was $4.55 million for fiscal year 2024, representing an increase of 9.49% from $4.16 million for fiscal year 2023. The increase mainly due to (i) an increase in gross profit from sales of manipulator arms, including installation and warranty services, by approximately $0.47 million; (ii) a decrease in gross profit from sales of manipulator arms accessories by approximately $0.11 million; (iii) an increase in gross profit from sales of raw materials and scraps by approximately $0.06 million; and (iv) a decrease in gross profit from sales of installation services by approximately $0.03 million. Gross profit margin was 28.83% for fiscal year 2024, compared to 32.98% for fiscal year 2023. Operating Expenses Operating expenses were $3.27 million for fiscal year 2024, representing an increase of 17.74% from $2.77 million for fiscal year 2023. Selling expenses were $0.94 million for fiscal year 2024, representing an increase of 36.46% from $0.69 million for fiscal year 2023. The increase was mainly due to (i) an increase in exhibition expenses by approximately $0.12 million, resulting from participation in an additional four exhibitions across four cities in China in 2024; (ii) an increase in salary by approximately $0.12 million, as the growth in revenue has led to higher commissions for sales personnel, alongside the addition of three sales representatives in 2024 compared to 2023; and (iii) an increase in transportation fees by approximately $0.19 million, due to increase of sales to customers from other provinces, such as Guangdong, Zhejiang, and Jiangsu, resulting in a rise in related transportation costs. General and administrative expenses were $0.76 million for fiscal year 2024, representing an increase of 5.58% from $0.72 million for fiscal year 2023. The increase was mainly due to an increase in consulting fees for external public relations and internal control. Research and development expenses were $1.56 million for fiscal year 2024, representing an increase of 14.76% from $1.36 million for the same period of last year. The increase was primarily attributable to increased investment in research and corresponding material consumption to enhance the quality and performance of manipulator arms. Net Income Net income was $1.61 million for fiscal year 2024, representing an increase of 18.78% from $1.35 million for fiscal year 2023. Basic and Diluted Earnings per Share Basic and diluted earnings per share were $0.13 for fiscal year 2024, compared to $0.11 for fiscal year 2023. Financial Condition As of December 31, 2024, the Company had cash and cash equivalents of $2.47 million, compared to $0.60 million as of December 31, 2023. Net cash provided by operating activities was $1.58 million for fiscal year 2024, compared to $0.40 million for fiscal year 2023. Net cash provided by investing activities was $0.32 million for fiscal year 2024, compared to net cash used in investing activities of $0.22 million for fiscal year 2023. Net cash provided by financing activities was $0.22 million for fiscal year 2024, compared to $0.46 million for fiscal year 2023. Recent Development On January 3, 2025, the Company completed its initial public offering of 2,000,000 ordinary shares at a public offering price of US$4.00 per share. The Company's ordinary shares began trading on the Nasdaq Capital Market on January 2, 2025, under the ticker symbol "INLF." About INLIF LIMITED Through its operating entity in the People's Republic of China, Ewatt Robot Equipment Co. Ltd., established in September 2016, INLIF is engaged in the research, development, manufacturing, and sales of injection molding machine-dedicated manipulator arms. It is also a provider of installation services and warranty services for manipulator arms, and accessories and raw materials for manipulator arms. The Company produces an extensive portfolio of injection molding machine-dedicated manipulator arms, including transverse single and double-axis manipulator arms, transverse and longitudinal multi-axis manipulator arms, and large bullhead multi-axis manipulator arms, all developed by itself. For more information, please visit the Company's website: https://ir.yiwate88.com/. Forward-Looking Statements Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. These statements are subject to uncertainties and risks, including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the "Risk Factors" section of the registration statement filed with the U.S. Securities and Exchange Commission (the "SEC"). Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. For investor and media inquiries, please contact: INLIF LIMITEDInvestor Relations DepartmentEmail: [email protected] Ascent Investor Relations LLC Tina XiaoPhone: +1-646-932-7242Email: [email protected] INLIF LIMITED CONSOLIDATED BALANCE SHEETS (Expressed in U.S. Dollars, except for the number of shares) As of December 31, 2024 As of December 31, 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 2,467,638 $ 598,933 Accounts receivable, net 3,840,120 3,789,214 Inventories 5,300,458 4,493,042 Deferred offering costs, current 1,482,558 — Prepayments and other current assets 159,570 142,095 Amounts due from related parties 1,030 352,118 TOTAL CURRENT ASSETS $ 13,251,374 $ 9,375,402 NON-CURRENT ASSETS: Property, plant, and equipment, net $ 3,037,312 $ 3,397,167 Land-use rights, net 2,130,164 2,237,684 Intangible assets, net 43,773 50,297 Deferred offering costs, non-current — 960,241 Deferred tax assets 5,169 452 TOTAL NON-CURRENT ASSETS $ 5,216,418 $ 6,645,841 TOTAL ASSETS $ 18,467,792 $ 16,021,243 LIABILITIES CURRENT LIABILITIES: Accounts payable $ 3,132,613 $ 2,546,418 Bank loans 4,630,581 3,662,023 Contract liabilities 1,712 65,073 Accrued expenses and other payables 222,247 259,648 Income taxes payable 27,337 12,058 Amounts due to related parties 186,768 513,018 TOTAL CURRENT LIABILITIES $ 8,201,258 $ 7,058,238 TOTAL LIABILITIES $ 8,201,258 $ 7,058,238 COMMITMENTS AND CONTINGENCIES (NOTE 19) SHAREHOLDERS' EQUITY Ordinary shares ($0.0001 par value, 500,000,000 shares authorized, 12,500,000 shares issued and outstanding as of December 31, 2024 and 2023)* $ 1,250 $ 1,250 Additional paid-in capital 7,037,503 7,037,503 Statutory reserve 361,083 200,229 Retained earnings 3,201,818 1,756,183 Accumulated other comprehensive loss (335,120) (32,160) TOTAL SHAREHOLDERS' EQUITY $ 10,266,534 $ 8,963,005 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 18,467,792 $ 16,021,243 * The share amounts are presented on a retrospective basis. INLIF LIMITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Expressed in U.S. Dollars, except for the number of shares) Years ended December 31, 2024 2023 2022 Revenues 15,796,983 12,610,873 6,652,308 Cost of revenues (11,242,817) (8,451,336) (4,358,426) Gross profit 4,554,166 4,159,537 2,293,882 Operating expenses: Selling expenses (938,941) (688,064) (396,421) General and administrative expenses (764,530) (724,147) (742,620) Research and development expenses (1,563,059) (1,362,058) (504,711) Total operating expenses (3,266,530) (2,774,269) (1,643,752) Operating income 1,287,636 1,385,268 650,130 Other income (expenses): Interest income 3,274 6,884 2,625 Interest expenses (196,304) (146,386) (82,672) Other income, net 531,198 110,159 15,010 Other expense, net (8,370) (17,410) (44,274) Exchange gain (loss) 3,893 25,344 (3,687) Total other income (expenses), net 333,691 (21,409) (112,998) Income before income tax 1,621,327 1,363,859 537,132 Income tax (expenses) benefits (14,838) (11,348) 423 Net income 1,606,489 1,352,511 537,555 Comprehensive income Net income 1,606,489 1,352,511 537,555 Foreign currency translation adjustments, net of tax (302,960) (227,278) 187,942 Comprehensive income 1,303,529 1,125,233 725,497 Earnings per share, basic and diluted 0.13 0.11 0.04 Weighted average number of shares* 12,500,000 12,500,000 12,500,000 * The share amounts are presented on a retrospective basis. INLIF LIMITED CONSOLIDATED STATEMENTS OF CASH FLOWS (Expressed in U.S. Dollars, except for the number of shares) For the years ended December 31, 2024 2023 2022 Cash flows from operating activities: Net income 1,606,489 1,352,511 537,555 Adjustments to reconcile net income (loss) to net cash used in operating activities: Depreciation and amortization 347,977 367,029 388,233 Allowance for (reversal of) credit losses (154) (19,930) 15,975 Loss on disposal of property, plant, and equipment — 5,432 — Deferred tax assets — — (423) Changes in operating assets and liabilities: Accounts receivable (50,752) (1,552,991) (716,876) Intangible assets — (53,086) — Inventories (807,416) (2,025,725) 1,093,218 Prepayments and other current assets (17,474) 94,160 170,093 Accounts payable, trade 586,195 2,057,775 (103,240) Contract liabilities (63,361) 65,073 (137,699) Other payables and accrued liabilities (37,401) 98,485 (7,507) Tax payable 15,279 11,505 (301) Net cash provided by operating activities 1,579,382 400,238 1,239,028 Cash flows from investing activities: Purchase of property, plant, and equipment (25,759) (219,121) (18,165) Disposal of property, plant, and equipment — 989 — Amount loan to related parties (1,025) — — Proceeds from repayment by related parties 347,428 — — Net cash provided by (used in) investing activities 320,644 (218,132) (18,165) Cash flows from financing activities: Capital Contributions — — 6,760,538 Proceeds from short-term loans 7,143,130 3,671,841 2,526,378 Repayment of short-term loans (6,059,153) (2,400,819) (1,486,105) Deferred offering costs (522,318) (919,207) (42,060) Amount financed from related parties 181,116 977,418 515,678 Amount repaid to related parties (518,379) (865,770) (9,993,772) Net cash provided by (used in) financing activities 224,396 463,463 (1,719,343) Effect of exchange rate changes (255,717) (131,597) 397,892 Net increase (decrease) in cash 1,868,705 513,972 (100,588) Cash and cash equivalents at beginning of the year 598,933 84,961 185,549 Cash and cash equivalents at end of the year 2,467,638 598,933 84,961 Supplemental disclosures of cash flows information: Cash paid for income taxes 1,707 475 303 Cash paid for interest expense 191,859 143,727 82,672 SOURCE INLIF LIMITED WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

INLIF LIMITED Reports Fiscal Year 2024 Financial Results

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