Meiwu Technology Co Ltd

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM (PCAOB ID: 6907) F-2

BALANCE SHEETS AS OF DECEMBER 31, 2024 AND 2025 F-3

STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2025 F-4

STATEMENTS OF CHANGES IN SHAREHOLDERS' DEFICITS FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2025 F-5

STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2025 F-6

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Shareholders of

We have audited the accompanying balance sheets of Xiamen Hemeitong Trading Co., Ltd. (the "Company") as of December 31, 2025 and 2024, the related statements of operations and comprehensive income (loss), changes in shareholders' deficits, and cash flows for each of years ended December 31, 2025 and 2024, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024, and the results of its operations and its cash flows for each of the years ended December 31, 2025 and 2024, in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP").

Material Uncertainty Related to Going Concern

The consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As report in Note 1 to the consolidated financial statements, as of December 31, 2025, the Company had cash and cash equivalents of $2,558, a net working capital deficit of $52,840, shareholders' deficit of $23,526 and its accumulated deficit was $25,207. These conditions raise substantial doubt about the Company's ability to continue as a going concern. Management's plans regarding these matters are also described in Note 1. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. Our opinion is not modified in respect of this matter.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

We have served as the Company's auditor since 2026.

(USD, except for share and per share data, or otherwise noted)

Accounts receivable, net 775,182 274,219

Property, plant, and equipment, net 5,411 7,706

Accrued expenses and other current liabilities 57,089 48,992

Total current liabilities 1,048,700 794,246

Share subscription receivable (14,033 ) (148,181 )

Accumulated deficits (25,207 ) (300,005 )

Accumulated other comprehensive income 1,681 6,876

Total shareholders' deficit (23,526 ) (293,129 )

Total liabilities and shareholders' deficit 1,046,207 540,737

The accompanying notes are an integral part of the financial statements.

STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

(USD, except for share and per share data, or otherwise noted)

Sales and marketing expenses 974,739 474,758

General and administrative expenses 664,894 293,494

Total operating expenses 1,639,633 768,252

Income (Loss) from operations 489,871 (144,117 )

INCOME (LOSS) BEFORE INCOME TAX 489,983 (144,024 )

Income tax (expense) benefit (215,185 ) 10,504

Foreign currency translation adjustment (5,195 ) 6,431

Comprehensive income (loss) 269,603 (127,089 )

The accompanying notes are an integral part of these financial statements.

STATEMENTS OF CHANGES IN SHAREHOLDERS' DEFICITS

(USD, except for share and per share data, or otherwise noted)

Foreign currency translation adjustment - - - 6,431 6,431

Reduction of paid in capital (134,148 ) 134,148 - - -

Foreign currency translation adjustment - - - (5,195 ) (5,195 )