.2
INDEX TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
F-1
MILLENNIUM GROUP INTERNATIONAL HOLDINGS LIMITED
CONDENSED CONSOLIDATED BALANCE SHEETS
AS OF DECEMBER 31, 2025 AND JUNE 30, 2025
| December 31, | June 30, | |||||||
| 2025 | 2025 | |||||||
| (Unaudited) | (Audited) | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | $ | ||||||
| Restricted cash | ||||||||
| Accounts receivable, net | ||||||||
| Prepayments, other receivables and other current assets | ||||||||
| Inventory | ||||||||
| Total current assets | ||||||||
| Non-current assets: | ||||||||
| Property, plant and equipment, net | ||||||||
| Right-of-use assets, net | ||||||||
| Intangible assets, net | ||||||||
| Deferred tax assets, net | ||||||||
| Other non-current assets | ||||||||
| Total non-current assets | ||||||||
| Total Assets | $ | $ | ||||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||
| Current Liabilities: | ||||||||
| Bank borrowings | $ | $ | ||||||
| Lease obligation – current | ||||||||
| Accounts payable | ||||||||
| Other payables and accrued liabilities | ||||||||
| Tax payable | ||||||||
| Total current liabilities | ||||||||
| Non-current liabilities: | ||||||||
| Lease obligation – non-current | ||||||||
| Total non-current liabilities | ||||||||
| Total liabilities | ||||||||
| COMMITMENTS AND CONTINGENCIES | ||||||||
| SHAREHOLDERS’ EQUITY | ||||||||
| Ordinary shares: USD $ | ||||||||
| Additional paid-up capital | ||||||||
| Statutory reserves | ||||||||
| Accumulated other comprehensive loss | ( | ) | ( | ) | ||||
| Accumulated deficit | ( | ) | ( | ) | ||||
| Total shareholders’ equity | ||||||||
| Non-controlling interest | ||||||||
| Total liabilities and shareholders’ equity | $ | $ | ||||||
F-2
MILLENNIUM GROUP INTERNATIONAL HOLDINGS LIMITED
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS
OF OPERATIONS AND
COMPREHENSIVE LOSS
FOR THE SIX MONTHS ENDED DECEMBER 31, 2025 AND 2024
| 2025 | 2024 | |||||||
| Revenues | $ | $ | ||||||
| Cost of revenues | ( | ) | ( | ) | ||||
| Gross Profit | ||||||||
| Operating expenses: | ||||||||
| Selling and marketing | ( | ) | ( | ) | ||||
| General and administrative | ( | ) | ( | ) | ||||
| Total operating expenses | ( | ) | ( | ) | ||||
| (Loss) from operations | ( | ) | ( | ) | ||||
| Other income (loss): | ||||||||
| Other income | ||||||||
| Other expenses | ( | ) | ( | ) | ||||
| Interest expense | ( | ) | ( | ) | ||||
| ( | ) | |||||||
| (Loss) before tax expenses | ( | ) | ( | ) | ||||
| Income tax expense | ( | ) | ( | ) | ||||
| Net (loss) attributable to ordinary shareholders | $ | ( | ) | $ | ( | ) | ||
| Net (loss) attributable to non-controlling interest | ( | ) | ||||||
| Net (loss) attributable to MILLENNIUM GROUP INTERNATIONAL HOLDINGS LIMITED | ( | ) | ( | ) | ||||
| Other Comprehensive Income (Loss) | ||||||||
| Foreign currency translation adjustment | $ | $ | ( | ) | ||||
| Total Comprehensive (Loss) attributable to MILLENNIUM GROUP INTERNATIONAL HOLDINGS LIMITED | $ | ( | ) | $ | ( | ) | ||
| Net (loss) per share attributable to ordinary shareholders basic and diluted | $ | ( | ) | $ | ( | ) | ||
| Weighted average number of ordinary shares used in computing net income per share basic and diluted | ||||||||
F-3
MILLENNIUM GROUP INTERNATIONAL HOLDINGS LIMITED
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS
OF CHANGES IN
SHAREHOLDERS’ EQUITY
FOR THE SIX MONTHS ENDED DECEMBER 31, 2025 AND 2024
| Accumulated | Retained | |||||||||||||||||||||||||||||||
| Ordinary Share | Additional | other | Earnings | Non- | ||||||||||||||||||||||||||||
| No. of | paid-in | Statutory | comprehensive | (Accumulated | Controlling | |||||||||||||||||||||||||||
| Shares | Amount | capital | Reserve | (loss) | Deficit) | Interest | Total | |||||||||||||||||||||||||
| $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||
| Balance as of July 1, 2024 (audited) | ( | ) | ( | ) | ||||||||||||||||||||||||||||
| Foreign currency translation adjustment | - | ( | ) | ( | ) | |||||||||||||||||||||||||||
| Net loss | - | ( | ) | ( | ) | |||||||||||||||||||||||||||
| Balance as of December 31, 2024 | ( | ) | ( | ) | ||||||||||||||||||||||||||||
| Balance as of July 1, 2025 (audited) | ( | ) | ( | ) | ||||||||||||||||||||||||||||
| Foreign currency translation adjustment | - | |||||||||||||||||||||||||||||||
| Acquisition of non-controlling interest | ||||||||||||||||||||||||||||||||
| Net loss | - | ( | ) | ( | ) | ( | ) | |||||||||||||||||||||||||
| Balance as of December 31, 2025 | ( | ) | ( | ) | ||||||||||||||||||||||||||||
F-4
MILLENNIUM GROUP INTERNATIONAL HOLDINGS LIMITED
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE SIX MONTHS ENDED DECEMBER 31, 2025 AND 2024
| 2025 | 2024 | |||||||
| Cash Flows from Operating Activities: | ||||||||
| Net (loss) | $ | ( | ) | $ | ( | ) | ||
| Adjustments to reconcile net (loss) to net cash (used in) operating activities: | ||||||||
| Depreciation and amortization | ||||||||
| Impairment (reversal) of inventories | ( | ) | ||||||
| Gain (loss) on disposal of property, plant and equipment | ||||||||
| Provision (reversal) for bad debts | ( | ) | ||||||
| Impairment of property, plant and equipment | ||||||||
| Changes in operating assets and liabilities: | ||||||||
| Deferred tax | ( | ) | ||||||
| Accounts receivable | ||||||||
| Prepayments, other receivables and other assets | ( | ) | ( | ) | ||||
| Inventory | ( | ) | ||||||
| Prepaid tax | ( | ) | ( | ) | ||||
| Right-of-use assets | ( | ) | ||||||
| Lease obligation | ( | ) | ||||||
| Accounts payable | ||||||||
| Other payables and accruals | ( | ) | ||||||
| Tax payable | ( | ) | ||||||
| Net Cash used in Operating Activities | ( | ) | ( | ) | ||||
| Cash Flows from Investing Activities: | ||||||||
| Purchases of property, plant and equipment | ( | ) | ( | ) | ||||
| Prepayment land cost | ( | ) | ||||||
| Proceeds from sale of property, plant and equipment | ||||||||
| - | ||||||||
| Net Cash (used in) Investing Activities | ( | ) | ( | ) | ||||
| Cash Flows from Financing Activities: | ||||||||
| Repayment of bank borrowings | ( | ) | ( | ) | ||||
| Proceeds from contributions by non-controlling interest | ||||||||
| Proceeds from bank borrowings | ||||||||
| Net Cash (used in) Financing Activities | ( | ) | ( | ) | ||||
| Effect of Exchange Rate Changes on Cash and Cash Equivalents | ( | ) | ||||||
| Net Decrease in Cash and Cash Equivalents | ( | ) | ( | ) | ||||
| Cash, Cash Equivalents and Restricted Cash – Beginning of Period | ||||||||
| Cash, Cash Equivalents and Restricted Cash – End of Period | $ | $ | ||||||
| Supplemental Disclosure of Cash Flow Information: | ||||||||
| Cash paid for interest | $ | $ | ||||||
| Cash paid for income taxes | $ | ( | ) | ( | ) | |||
F-5