$DQWS

DSwiss Inc

CIK:0001652561|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
REVENUE (including $107,336 and $6,892 of revenue from a related party for the three months ended June 30, 2026 and 2025, respectively, and $127,167 and $8,205 of revenue from a related party for the six months ended June 30, 2026 and 2025, respectively)	$ 511,781	$ 1,021,340	$ 989,518	$ 2,022,526
COST OF REVENUE (including $248,760 purchases from a related party for the three months ended June 30, 2026, and $375,167 purchases from a related party for the six months ended June 30, 2026)	(342,427)	(872,732)	(660,972)	(1,610,871)
GROSS PROFIT	169,354	148,608	328,546	411,655
OTHER INCOME	9,417	31,333	10,029	32,386
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (including $2,225 and $1,674 of general and administrative expenses to a related party for the three months ended June 30, 2026 and 2025, respectively, and $3,350 and $3,942 of general and administrative expenses to a related party for the six months ended June 30, 2026 and 2025, respectively)	(168,075)	(135,499)	(309,930)	(254,824)
OPERATING EXPENSES	(148)	(599)	(488)	(599)
FINANCE COST	(3,847)	(3,922)	(7,963)	(6,120)
LEASE EXPENSES	(6,552)	(5,681)	(13,071)	(7,500)
PROFIT BEFORE INCOME TAX	149	34,240	7,123	174,998
INCOME TAXES PROVISION	(2,651)	(2,112)	(5,334)	(4,134)
NET (LOSS)/INCOME	(2,502)	32,128	1,789	170,864
Other comprehensive income/(loss)
- Foreign currency translation adjustment	471	4,835	(263)	5,175
COMPREHENSIVE (LOSS)/INCOME	$ (2,031)	$ 36,963	$ 1,526	$ 176,039
NET INCOME PER SHARE - BASIC	$ (0.00001)	$ 0.00015	$ 0.00001	$ 0.00083
NET INCOME PER SHARE - DILUTED	$ (0.00001)	$ 0.00015	$ 0.00001	$ 0.00083
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC	206,904,585	206,904,585	206,904,585	206,904,585
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - DILUTED	206,904,585	206,904,585	206,904,585	206,904,585

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 1,789	$ 170,864
Adjustments to reconcile net income to net cash (used in)/generated from operating activities:
Depreciation and amortization	40,930	25,454
Amortization for intangible assets	408	517
Gain on disposal of plant and equipment		(30,341)
Changes in operating assets and liabilities:
Accounts receivable	(1,964)	23,771
Accounts payable	(9,067)	38,540
Other payables and accrued liabilities	(45,332)	(75,960)
Inventories	598	(741)
Other receivables, prepaid expenses and deposits	(28,142)	4,869
Amount due to a director	48,974
Tax payable	(743)
Tax recoverable		(637)
Reduction in lease liability	(12,749)	(7,751)
Net cash (used in)/generated from operating activities	(5,298)	148,585
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of plant and equipment	(348)	(2,392)
Disposal of plant and equipment		31,357
Net cash (used in)/generated from investing activities	(348)	28,965
CASH FLOWS FROM FINANCING ACTIVITY:
Repayment of finance lease	(17,658)	(17,398)
Net cash used in financing activity	(17,658)	(17,398)
Effect of exchange rate changes on cash and cash equivalent	(3,741)	23,323
Net (decrease)/increase in cash and cash equivalents	(27,045)	183,475
Cash and cash equivalents, beginning of period	285,034	397,476
CASH AND CASH EQUIVALENTS, END OF PERIOD	257,989	580,951
SUPPLEMENTAL CASH FLOWS INFORMATION
Income taxes paid	(3,410)	(4,909)
Interest paid	$ (2,557)	$ (6,120)

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
CURRENT ASSETS
Cash and cash equivalents (including $51,149 and $76,857 of time deposits as of June 30, 2026 and December 31, 2025 respectively)	$ 257,989	$ 285,034
Accounts receivable	19,231	17,376
Other receivables, prepaid expenses and deposit	55,022	27,016
Inventories	1,734	2,347
Total Current Assets	333,976	331,773
NON-CURRENT ASSETS
Plant and equipment, net	161,390	189,386
Intangible assets, net	1	409
Operating lease right-of-use assets, net	141,856	155,568
Total Non-Current Assets	303,247	345,363
TOTAL ASSETS	637,223	677,136
CURRENT LIABILITIES
Accounts payable (including $375,167 and $91 payable to related parties as of June 30, 2026 and December 31, 2025 respectively)	102,616	113,134
Other payables and accrued liabilities	242,466	289,473
Amount due to a director	48,974
Finance lease liability	17,291	35,167
Operating lease liability	13,180	26,089
Tax payable	867	1,601
Total Current Liabilities	425,394	465,464
NON- CURRENT LIABILITIES
Finance lease liability	90,973	91,539
Operating lease liability	128,676	129,479
Total Non-Current Liabilities	219,649	221,018
TOTAL LIABILITIES	645,043	686,482
STOCKHOLDERS’ EQUITY
Preferred stock, $0.0001 par value, 200,000,000 shares authorized, None issued and outstanding
Common stock, $0.0001 par value, 600,000,000 shares authorized, 206,904,585 shares issued and outstanding as of June 30, 2026 and December 31, 2025 respectively	20,690	20,690
Additional paid-in capital	1,395,426	1,395,426
Accumulated other comprehensive income	39,065	39,328
Accumulated deficit	(1,463,001)	(1,464,790)
TOTAL STOCKHOLDERS’ EQUITY	(7,820)	(9,346)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 637,223	$ 677,136