Kandal M Venture Reports 45% Gross Profit Growth

KMV is a holding company registered and incorporated in the Cayman Islands, and is not a Cambodian operating company. As a holding company with no material operations, we conduct our operations in Cambodia through our operating subsidiary, FMF. Prospect Focus Limited was incorporated in Hong Kong on November 3, 2016 as a trading company. On April 5, 2017, FMF Manufacturing Co., Ltd. was established in Kandal Province, Cambodia to engage in the business of leather goods manufacturing. FMF became a direct wholly-owned subsidiary of PFL on April 5, 2017. Through FMF, our operating subsidiary, we are a contract manufacturer of affordable luxury leather goods with our manufacturing operations in Cambodia. We primarily manufacture handbags, such as shoulder bags, crossbody bags, tote bags, backpacks, top-handle handbags, satchels, and other smaller leather goods, such as wallets. Our customers are well-known global fashion brands that are headquartered in the United States. With our craftsmanship and extensive knowledge of the leather goods manufacturing process, our product engineers convert our customers’ vision and design into leather goods products. Our products are primarily affordable luxury products that are made of leather and/or other materials. Our goal is to become the leading manufacturer in the premium and affordable luxury bag market. To achieve this, we have created a lean manufacturing environment with a strong focus on social and environment.