Intelligent Living Application Group Inc. Announces First Half 2025 Unaudited Financial Results

Intelligent Living Application Group Inc. reported its unaudited financial results for the first half of 2025. Revenues decreased by 48.5% to $2,305,265 compared to the same period in 2024, primarily due to a decrease in units sold. Gross profit fell by 65.0% to $246,038, and the net loss increased by 137.0% to $5,330,267. The company cited heavy U.S. tariff increases and a slowdown in the U.S. real estate market as major contributing factors. The launch of smart locks has been suspended due to cost-saving reasons. Selling and marketing expenses decreased by 68.2%, while general and administrative expenses increased significantly by 204.5%, largely due to share-based compensation and the issuance of Series A Preferred Shares to the CEO. Research and development expenses were nil in H1 2025, compared to $648,413 in H1 2024, due to the suspension of smart lock development. The company obtained credit facilities and believes its current working capital is sufficient for the next 12 months, with intentions to seek further financing if needed. Recent developments include the designation of Series B Preferred Shares and an employment agreement with the CEO, along with shareholder approval for a share consolidation of up to 1:200 and an increase in authorized share capital.