EPWK (EPWK) Registration filing summary

Company overview and business model

• Operates a leading crowdsourcing platform in China, connecting buyers and service providers for creative and business services, with over 26.5 million registered users as of June 30, 2025.

• Business conducted through a variable interest entity (VIE) structure due to PRC restrictions on foreign ownership in value-added telecom and related sectors.

• Platform enabled $2.03 billion in GMV from 2019 to June 2025, with 564 million projects completed.

• Offers premium business solutions, online promotion, value-added services, shared office rental, and digital marketing.

Financial performance and metrics

• Revenue for years ended June 30: $27.84M (2025), $20.22M (2024), $19.8M (2023); net losses: $10.44M (2025), $1.20M (2024), $1.08M (2023).

• For the six months ended Dec 31, 2025: revenue $12.18M (up 43.7% YoY), net loss $9.5M (up from $0.5M YoY).

• Gross profit margin declined to 12.5% from 16.4% YoY due to low-margin digital marketing segment.

• As of Dec 31, 2025: total assets $15.3M, total liabilities $18.1M, shareholders' deficit $2.8M.

• Raised $14.2M in a private placement in Jan 2026, issuing 284M Class A shares at $0.05 per share.

Use of proceeds and capital allocation

• No proceeds will be received from this offering; all net proceeds go to selling shareholders.

• Intends to retain future earnings for business expansion; no plans for cash dividends in the foreseeable future.