INLF

QUANZHOU, China, March 6, 2026 /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 fiscal year 2025 ended December 31, 2025. Mr. Rongjun Xu, Chief Executive Officer of INLIF, remarked, "Fiscal year 2025 marked a pivotal period of transformative momentum for our growth trajectory. We believe the strategic actions taken during the year have established a strong foundation for our future development, building upon the achievements of prior years. "Throughout the year, we continued to expand our service offerings and customer base while proactively embracing emerging technologies and industry trends to explore new frontiers and growth opportunities. In response to the accelerating intelligentization of the manipulator arm industry, we strategically reallocated resources and business efforts toward newly launched equipment projects focused on the new energy sector. This strategic pivot delivered tangible results, with the new segment growing from zero to contributing 12.98% of total revenue in fiscal year 2025. This emerging business demonstrates significant growth potential and has effectively offset the decline in manipulator arm sales resulting from our adjusted production capacity. "Driven by our expansion into the new energy sector, we accelerated organizational, managerial, and research and development (R&D) transformation. During the year, we broadened our product development initiatives to include automation solutions across the lithium battery and energy storage value chain. This required increased investment in engineering, R&D, and supply chain functions. As a result, R&D expenses rose by 32.26%, reflecting an expanded R&D workforce as well as higher material usage and testing costs related to new product development and improvements to existing products. "To support long-term sustainable growth and retain key management and employees, we implemented two share-based compensation incentive plans during the year. We believe these incentives represent a prudent and necessary investment in our long-term future. These significant, though non-recurring, awards should be viewed not as compensation for past performance, but as a strategic investment in our future success. In a highly competitive industry, success at every stage, whether in technological advancement, business model innovation, or management excellence, ultimately depends on attracting and retaining top talent. We believe these incentives create a deep alignment and powerful drive for long-term value, institutionally linking the personal interests of our executives and key employees with the long-term interests of our shareholders. "Despite reporting a net loss attributable to the impacts of our transformation, we achieved revenue growth of 16.52%, maintained a relatively stable gross profit, and sustained a resilient gross margin well above 20%. These results underscore the fundamental strength and resilience of our core business model. Looking ahead, we remain confident in our operational capabilities, financial position, and our ability to execute strategies that will drive sustainable growth and long-term value." Fiscal Year 2025 Financial Summary Net revenue was $18.41 million for fiscal year 2025, representing an increase of 16.52% from $15.80 million for fiscal year 2024. Gross profit was $4.29 million for fiscal year 2025, compared to $4.55 million for fiscal year 2024. Gross profit margin was 23.33% for fiscal year 2025, compared to 28.83% for fiscal year 2024. Net loss was $5.45 million for fiscal year 2025, compared to a net income of $1.61 million for fiscal year 2024. Basic and diluted loss per share were $0.33 for fiscal year 2025, compared to basic and diluted earnings per share of $0.13 for fiscal year 2024. Fiscal Year 2025 Financial Results Net Revenue Net revenue was $18.41 million for fiscal year 2025, representing an increase of 16.52% from $15.80 million for fiscal year 2024. The increase was primarily attributable to (i) a decrease in sales of manipulator arms, including installation and warranty services, by approximately $1.26 million, primarily due to reduced production capacity after reallocating certain production personnel to newly introduced new energy sector-focused product in the second half of fiscal year 2025. As a result, production volume decreased to 2,763 units in fiscal year 2025 from 3,026 units in fiscal year 2024; (ii) an increase in sales of manipulator arms accessories by approximately $0.83 million, driven by higher replacement and assembly demand from both existing and new customers; (iii) an increase in sales of raw materials and scraps by approximately $0.70 million, as customers continued to purchase replacement materials directly from the Company due to established relationships and pricing advantages; (iv) a decrease in sales of installation services by approximately $0.05 million, mainly due to lower manipulator arm sales and certain customers using their own personnel or engaging the Company only in an advisory role, resulting in reduced installation hours; and (v) an increase in sales of new energy sector-focused products by approximately $2.39 million, attributable to the delivery and customer acceptance of new energy sector-focused product for new energy automation production lines, a business line newly commenced in fiscal year 2025. Sales of manipulator arms and installation and warranty services were $9.07 million for fiscal year 2025, compared to $10.33 million for fiscal year 2024. Sales of accessories were $2.27 million for fiscal year 2025, representing an increase of 57.74% from $1.44 million for fiscal year 2024. Sales of raw materials and scraps were $4.64 million for fiscal year 2025, representing an increase of 17.83% from $3.93 million for fiscal year 2024. Sales of installation services were $47,753 for fiscal year 2025, compared to $95,442 for fiscal year 2024. Sales of new energy sector-focused products were $2.39 million for fiscal year 2025. Cost of Revenue Cost of revenue was $14.11 million for fiscal year 2025, representing an increase of 25.53% from $11.24 million for fiscal year 2024. The increase was primarily attributable to (i) a slight decrease of approximately $0.08 million in cost of revenue from manipulator arms and installation and warranty services, despite lower production volume, as production personnel salaries increased in fiscal year 2025 compared to fiscal year 2024, primarily due to salary adjustments and additional staffing to support production activities, and manufacturing overhead also increased, resulting in higher unit production costs; (ii) an increase of approximately $0.42 million in cost of revenue from accessories, primarily due to higher sales volume; (iii) an increase of approximately $0.61 million in cost of revenue from raw materials and scraps, primarily due to increased sales volume; (iv) a slight decrease of approximately $0.003 million in cost of revenue from installation services; and (v) an increase of approximately $1.91 million in cost of revenue from new energy sector-focused products, attributable to the commencement of this business line in fiscal year 2025. Gross Profit and Gross Profit Margin Gross profit was $4.29 million for fiscal year 2025, compared to $4.55 million for fiscal year 2024. The decrease mainly due to (i) a decrease in gross profit from sales of manipulator arms, including installation and warranty services, by approximately $1.18 million, primarily due to increased production personnel salaries in fiscal year 2025 compared to fiscal year 2024, which, combined with lower production volume, resulted in a decline in gross margin; (ii) an increase in gross profit from sales of manipulator arm accessories by approximately $0.41 million, primarily due to lower raw material procurement costs in fiscal year 2025 compared to fiscal year 2024, which were not accompanied by a corresponding decrease in selling prices, resulting in an improvement in gross margin; (iii) an increase in gross profit from sales of raw materials and scraps by approximately $0.09 million, primarily due to higher sales volume, while gross margin remained relatively stable; and (iv) a decrease in gross profit from sales of installation services by approximately $0.05 million, primarily due to lower service revenue in fiscal year 2025 compared to fiscal year 2024, while related service costs remained relatively stable, resulting in a decline in gross profit and gross margin. Gross profit margin was 23.33% for fiscal year 2025, compared to 28.83% for fiscal year 2024. Operating Expenses Operating expenses were $10.11 million for fiscal year 2025, representing an increase of 209.63% from $3.27 million for fiscal year 2024. Selling expenses were $0.95 million for fiscal year 2025, representing an increase of 1.51% from $0.94 million for fiscal year 2024. The increase was primarily attributable to higher certification expenses incurred in connection with obtaining European Conformity certification for the European Union and Underwriters Laboratories certification for the United States in fiscal year 2025. General and administrative expenses were $7.09 million for fiscal year 2025, representing an increase of 827.86% from $0.76 million for fiscal year 2024. The increase was primarily attributable to share-based compensation expenses of approximately $5.14 million in connection with equity awards granted to management and certain employees in May and August, 2025. In addition, general and administrative expenses increased by approximately $0.17 million, due to higher payroll expenses resulting from an increase in headcount in the Company's management department from 22 employees in fiscal year 2024 to 28 employees in fiscal year 2025. Research and development expenses were $2.07 million for fiscal year 2025, representing an increase of 32.26% from $1.56 million for fiscal year 2024. The increase was primarily attributable to the expansion of the Company's research and development team, with headcount increasing from 29 employees in fiscal year 2024 to 30 employees in fiscal year 2025, resulting in higher personnel costs. In addition, the Company increased its investment in research activities, including higher material consumption and testing expenses. Net Income (Loss) Net loss was $5.45 million for fiscal year 2025, compared to a net income of $1.61 million for fiscal year 2024. Basic and Diluted Earnings (Loss) per Share Basic and diluted loss per share were $0.33 for fiscal year 2025, compared to basic and diluted earnings per share of $0.13 for fiscal year 2024. Financial Condition As of December 31, 2025, the Company had cash and cash equivalents of $6.72 million, compared to $2.47 million as of December 31, 2024. Net cash used in operating activities was $1.89 million for fiscal year 2025, compared to net cash provided by operating activities of $1.58 million for fiscal year 2024. Net cash used in investing activities was $0.20 million for fiscal year 2025, compared to net cash provided by investing activities of $0.32 million for fiscal year 2024. Net cash provided by financing activities was $6.87 million for fiscal year 2025, compared to $0.22 million for fiscal year 2024. 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 LIMITED Investor Relations Department Email: [email protected] Ascent Investor Relations LLC Tina Xiao Phone: +1-646-932-7242 Email: [email protected] View original content:https://www.prnewswire.com/news-releases/inlif-limited-reports-fiscal-year-2025-financial-results-302706794.html

QUANZHOU, China, Sept. 29, 2025 /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 unaudited financial results for the first half of fiscal year 2025 ended June 30, 2025. Mr. Rongjun Xu, Chief Executive Officer of INLIF, remarked, "We are pleased to present our financial performance results for the first half of fiscal year 2025, highlighting our continued growth in both revenue and gross profit as compared to the same period in 2024. Driven by the expansion of our customer base and rising demand for manipulator arms, particularly from capacity expansion in industries such as new energy vehicles, home appliances, and packaging, along with government incentives for automation and intelligent manufacturing, our revenue maintained strong momentum, increasing 52.49% year-over-year for the six-month period, while gross profit grew 4.90%. This performance reflects the success of our proactive expansion strategy, including active sales and marketing initiatives and a strong focus on technological innovation, which have significantly contributed to new customer acquisition and sales growth. During the period, we actively participated in domestic industry exhibitions to attract potential customers and executed expansion initiatives through online platforms to enhance overseas outreach. Specifically, we exhibited in Shenzhen, Xiamen and Wenzhou, generating over 450 qualified leads and converting 15 into new orders. At the same time, we are committed to continuing our investment in research and development (R&D) to advance our products with more practical and efficient technologies. Furthermore, we believe that our successful initial public offering on Nasdaq has elevated our brand recognition and market visibility. In parallel, we adhered to a disciplined and balanced cost-control strategy. We tightened control over selling expenses by reducing travel and marketing costs, while improving the efficiency of customer acquisition through hosting receptions at our own facilities and leveraging online platforms more effectively. Meanwhile, we expanded our administrative headcount and granted share-based compensation to key administrative employees during the period to strengthen our core management team and support future development. While these one-time expenses contributed to a net loss for the current period, we believe they had no material impact on our operations or financial health. Looking ahead, we remain confident in our preparation and ongoing strategic initiatives for sustained growth and development. We are committed to delivering greater value to our shareholders through our unwavering efforts and dedication." First Half of Fiscal Year 2025 Financial Summary Net revenue was $10.27 million for the first half of fiscal year 2025, representing an increase of 52.49% from $6.74 million for the same period of last year. Gross profit was $1.80 million for the first half of fiscal year 2025, representing an increase of 4.90% from $1.71 million for the same period of last year. Gross profit margin was 17.50% for the first half of fiscal year 2025, compared to 25.45% for the same period of last year. Net loss was $1.98 million for the first half of fiscal year 2025, compared to a net income of $0.39 million for the same period of last year. Basic and diluted loss per share were $0.13 for the first half of fiscal year 2025, compared to basic and diluted earnings per share of $0.03 for the same period of last year. F irst H alf of F iscal Y ear 2025 Financial Results Net Revenue Net revenue was $10.27 million for the first half of fiscal year 2025, representing an increase of 52.49% from $6.74 million for the same period of last year. The increase was primarily attributable to (i) an increase in sales of manipulator arms, including installation and warranty services, by approximately $1.03 million; (ii) an increase in sales of raw materials and scraps by approximately $3.21 million. These increases were partially offset by decreases of approximately $0.66 million and $0.05 million in sales of accessories and installation services, respectively, as the increased demand from existing customers for raw materials resulted in lower demand for accessories. Sales of manipulator arms and installation and warranty services were $4.37 million for the first half of fiscal year 2025, representing an increase of 30.69% from $3.35 million for the same period of last year. Sales of accessories were $0.39 million for the first half of fiscal year 2025, compared to $1.05 million for the same period of last year. Sales of raw materials and scraps were $5.47 million for the first half of fiscal year 2025, representing an increase of 142.33% from $2.26 million for the same period of last year. Sales of installation services were $41,523 for the first half of fiscal year 2025, compared to $87,364 for the same period of last year. Cost of Revenue Cost of revenue was $8.47 million for the first half of fiscal year 2025, representing an increase of 68.73% from $5.02 million for the same period of last year. The increase was primarily attributable to the Company's business growth and an increase in sales resulting in an increase of costs accordingly. Gross Profit and Gross Profit Margin Gross profit was $1.80 million for the first half of fiscal year 2025, representing an increase of 4.90% from $1.71 million for the same period of last year. The increase mainly due to (i) an increase in gross profit from sales of manipulator arms, including installation and warranty services, by approximately $0.05 million; (ii) an increase in gross profit from sales of raw materials and scraps by approximately $0.18 million; and (iii) offset by a decrease in gross profit from sales of accessories and installation services by approximately $0.10 million and $0.05 million, respectively Gross profit margin was 17.50% for the first half of fiscal year 2025, compared to 25.45% for the same period of last year. Operating Expenses Operating expenses were $3.87 million for the first half of fiscal year 2025, representing an increase of 148.04% from $1.56 million for the same period of last year. Selling expenses were $0.41 million for the first half of fiscal year 2025, representing a decrease of 14.48% from $0.48 million for the same period of last year. The decrease was mainly due to (i) a reduction of approximately $0.02 million in entertainment expenses, as customer receptions were held at the Company's own facilities; (ii) a reduction of approximately $0.01 million in travel expenses, mainly due to fewer personnel participating in exhibitions in the first half of 2025 compared with the same period in 2024; and (iii) a decrease of approximately $0.08 million in advertising expenses, as the Company did not renew its advertising contract upon expiration in 2025. General and administrative expenses were $2.68 million for the first half of fiscal year 2025, representing an increase of 485.23% from $0.46 million for the same period of last year. The increase was mainly due to (i) an increase in staff salaries and benefits by approximately $0.06 million, primarily due to the growth in administrative headcount from 118 in the first half of 2024 to 149 in the first half of 2025; (ii) an increase of share-based compensation expenses by approximately $1.76 million in connection with equity incentives granted to three key administrative employees in the first half of 2025; and (iii) an increase of approximately $0.04 million in expenses related to the Company's internal celebration of its Nasdaq listing. Research and development expenses were $0.77 million for the first half of fiscal year 2025, representing an increase of 24.68% from $0.62 million for the same period of last year. The increase was primarily attributable to the expansion of the research and development team, with headcount rising from 141 in the first half of 2024 to 186 in the first half of 2025, resulting in higher personnel costs, as well as increased investment in research activities and related material consumption. Net Income (Loss) Net income was $1.98 million for the first half of fiscal year 2025, compared to a net income of $0.39 million for the same period of last year. Basic and Diluted Earnings (Loss) per Share Basic and diluted loss per share were $0.13 for the first half of fiscal year 2025, compared to basic and diluted earnings per share of $0.03 for the same period of last year. Financial Condition As of June 30, 2025, the Company had cash and cash equivalents of $1.72 million, compared to $2.47 million as of December 31, 2024. Net cash used in operating activities was $2.94 million for the first half of fiscal year 2025, compared to $0.29 million for the same period of last year. Net cash used in investing activities was $5.02 million for the first half of fiscal year 2025, compared to $5,743 for the same period of last year. Net cash provided by financing activities was $6.91 million for the first half of fiscal year 2025, compared to $1.47 million for the same period of last year. 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 LIMITED Investor Relations Department Email: [email protected] Ascent Investor Relations LLC Tina Xiao Phone: +1-646-932-7242 Email: [email protected] View original content:https://www.prnewswire.com/news-releases/inlif-limited-reports-first-half-of-fiscal-year-2025-financial-results-302569972.html

QUANZHOU, China, April 29, 2025 /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 LIMITED Investor Relations Department Email: [email protected] Ascent Investor Relations LLC Tina Xiao Phone: +1-646-932-7242 Email: [email protected] View original content:https://www.prnewswire.com/news-releases/inlif-limited-reports-fiscal-year-2024-financial-results-302441939.html SOURCE INLIF LIMITED