Core Viewpoint - Bon Natural Life Limited has announced a best efforts offering of units for aggregate gross proceeds of $12 million, aimed at expanding its operations in the natural, health, and personal care industries [1][3]. Offering Details - The offering consists of 8,333,332 shares of Class A ordinary shares and associated Series A and Series B Warrants, with exercise prices of $1.44 and $2.16 per share respectively [2]. - The purchase price for each ordinary unit is set at $1.44, while pre-funded units will be priced at $1.439 [3]. - The offering is expected to close around March 18, 2025, pending customary closing conditions [3]. Use of Proceeds - The net proceeds from the offering will be utilized for sales network expansion, research and development, production capacity expansion, and general corporate purposes [3]. Placement Agent - Univest Securities, LLC is acting as the sole placement agent for this offering [4]. Company Background - Bon Natural Life Limited is a Cayman Islands company focused on providing bio-ingredient solutions in the natural, health, and personal care sectors [6].

Core Points - The company Bonduelle has released its Half Year Financial Report for the period ending December 31, 2024 [3] - The report has been filed with the AMF and is accessible on the company's official website [3][4] - Bonduelle is a French S.C.A with a registered capital of 57,102,699.50 euros [2]

Core Insights - The Bonduelle Group reported a strong growth of +17.8% in current operating income for the first half of the 2024-2025 fiscal year, amounting to 48 million euros, compared to 40.6 million euros in the previous fiscal year [4][22] - Despite a slight decline in overall sales, branded activities showed a growth of +1.9%, highlighting the strategic importance of brand development [6][10] - The company confirmed its annual objectives despite challenges such as poor agricultural harvests in Russia impacting profitability in the second half of the fiscal year [7][38] Financial Performance - Total sales for the first half of fiscal year 2024-2025 were 1,119.4 million euros, a decrease of -1.7% compared to 1,139.2 million euros in the previous fiscal year [5][15] - The current operating margin improved to 4.3%, up from 3.6% in the previous year, reflecting operational efficiency [14][22] - Net income from continuing operations increased significantly to 17.2 million euros, compared to 6.4 million euros in the previous fiscal year, representing 1.5% of sales [29] Sales Breakdown - Sales in the Europe Zone decreased by -5.6% on reported figures, primarily due to a decline in private label canned activities [16][18] - The Non-Europe Zone experienced growth of +4.8% on reported figures, with North America returning to growth for the first time in four years [20][24] - The canned segment saw a decline of -6.7%, while fresh processed activities grew by +4.7% [17] Strategic Initiatives - The "Transform to win" transformation plan is underway, focusing on brand development and operational excellence [9][10] - The company is working towards achieving a 100% B Corp group certification by the end of the year, emphasizing its commitment to sustainability [10] - Plans to sell the packaged salad activity in France and Germany are in progress, with agreements reached regarding employee support during the transition [35][36] Financial Situation - Net financial debt stood at 664 million euros as of December 31, 2024, an increase from 649 million euros the previous year [33] - The gearing ratio increased to 1.23 from 0.95, indicating a higher level of financial leverage [33] - The average financing rate decreased to 4.12%, reflecting improved debt management [27]

Core Insights - Bonduelle Group's sales for the first half of fiscal year 2024-2025 amounted to €1,119.4 million, reflecting a decline of 1.5% on a like-for-like basis and 1.7% on reported figures compared to the previous fiscal year [2][6][20] - The growth in branded activities was 1.9%, highlighting the strategic focus on brand development, while the private label segment saw a significant decline of 6.9% [3][6] - The company is in the process of selling its packaged salad activities in France and Germany, which will be reported under "net income from discontinued operations" [4][13][21] Sales Performance - Total sales in the Europe Zone decreased by 5.6% on reported figures and 5.8% on a like-for-like basis, primarily due to a drop in private label canned activities [6][9] - The Non-Europe Zone experienced growth of 4.8% on reported figures and 5.8% on a like-for-like basis, driven by strong retail sales in North America [11][12] - Sales by operating segments showed a decline in canned products by 6.7%, while fresh processed products grew by 4.7% [8][26] Financial Reporting - The financial statements will exclude the packaged salad activity in France and Germany in accordance with IFRS 5, affecting the reported sales figures [4][21] - The company plans to recognize a non-recurring item related to the redundancy plan and restructuring of the head office in the financial statements by December 31, 2024 [15][20] Future Outlook - Bonduelle Group will announce its sales and profitability outlook for the 2024-2025 fiscal year on March 5, 2025 [20][25]

Financial Performance - Revenues for the year ended September 30, 2024, were $23,844,556, a decrease of 19.5% compared to $29,522,353 in 2023[49]. - Gross profit decreased to $7,110,009 in 2024 from $8,840,027 in 2023, reflecting a decline of 19.5%[49]. - Operating expenses increased significantly to $5,236,475 in 2024, up from $2,903,566 in 2023, marking an increase of 80.3%[49]. - Net income attributable to Bon Natural Life Limited was $398,172 in 2024, down 91.3% from $4,595,982 in 2023[49]. - Earnings per share (basic) dropped to $0.17 in 2024 from $5.03 in 2023, a decline of 96.6%[49]. Assets and Liabilities - As of September 30, 2024, total assets increased to $61,765,432 from $46,556,136 in 2023, representing a growth of approximately 32.6%[48]. - Current assets rose to $39,793,857 in 2024, up from $24,183,464 in 2023, indicating an increase of about 64.5%[48]. - Total equity increased to $44,349,539 in 2024, compared to $35,981,833 in 2023, reflecting a growth of approximately 23.1%[48]. - Current liabilities grew to $16,445,832 in 2024 from $9,611,215 in 2023, marking an increase of around 71.5%[48]. - Total liabilities rose to $17,415,893 in 2024, up from $10,574,303 in 2023, which is an increase of approximately 64.9%[48]. Regulatory and Compliance Issues - The company is subject to the Holding Foreign Companies Accountable Act, which could impact its ability to trade on U.S. exchanges if its auditor is not inspected by the PCAOB for two consecutive years[27]. - The company believes it has obtained all necessary licenses and permits for its operations in China, but future regulatory changes could impact its business[40]. - The company is subject to the complex and rapidly evolving laws and regulations in China, which may impact its operations and the value of its ordinary shares[78]. - The Draft Rules Regarding Overseas Listing have not yet gone into effect, creating uncertainty regarding future regulatory approvals for overseas listings[91]. - The company may face additional compliance requirements if the Draft Rules Regarding Overseas Listing are enacted, which could hinder its ability to offer securities[91]. Business Strategy and Development - The company plans to invest in expanding its direct sales force and distribution channels to meet increasing product demand[61]. - New product development focuses on health supplements aimed at boosting immunity and improving sleep quality, among other benefits[59]. - The company estimates a capital need of approximately $40 million for expansion and development efforts[68]. Risks and Challenges - The inability to retain key personnel may adversely affect the company's financial condition and operational success[69]. - Increased competition from firms with greater capital resources poses a risk to the company's market share and profitability[66]. - The Chinese economy has experienced uneven growth, with a slowing growth rate since 2012, which could adversely affect the company's business and operating results[97]. - The company may incur material product liability claims due to the nature of its ingestible products, which could increase costs and harm financial condition[98]. Shareholder and Dividend Information - The company has not made any dividends or distributions to shareholders and intends to retain future earnings for business expansion[36]. - As of September 30, 2024, the accumulated profits available for dividends from the PRC subsidiary were $18,741,685, compared to $18,703,996 as of September 30, 2023, reflecting a slight increase[118]. - The statutory surplus reserves of the PRC subsidiary ranged from 2% to 41% of their respective registered capitals, averaging 25% in aggregate as of September 30, 2024[118]. - The withholding tax rate applicable to dividends payable by Chinese companies to non-PRC-resident enterprises is generally 10%, but may be reduced to 5% for Hong Kong enterprises under certain conditions[121]. Internal Controls and Governance - The company identified several material weaknesses in its internal control over financial reporting as of September 30, 2024, due to a lack of qualified accounting staff[187]. - Remedial measures have been initiated, including hiring qualified accounting personnel and implementing training programs for financial reporting[189]. - The company has not fully addressed the identified weaknesses in internal controls, which could impact financial statement accuracy and regulatory compliance[191]. Tax and Compliance Obligations - Bon Natural Life Limited recorded tax liabilities of $3.7 million as of September 30, 2024, including $1.7 million in income tax payable and $1.4 million in unpaid value-added taxes (VAT)[154]. - The statutory enterprise income tax rate in China is 25%, but companies recognized as high and new technology enterprises can benefit from a reduced rate of 15%[159]. - If Bon Natural Life Limited is classified as a PRC resident enterprise, it would be subject to a 25% tax on worldwide income, significantly impacting net income[152]. Currency and Financial Risks - Fluctuations in the Renminbi against the U.S. dollar may significantly impact the company's operational results and investment value, with a noted appreciation of over 20% against the U.S. dollar from 2005 to 2008[136]. - Limited hedging options in China may restrict the company's ability to mitigate foreign currency exchange risks, with no hedging transactions entered to date[138]. - Governmental controls on currency conversion may hinder the effective utilization of revenues, requiring SAFE approval for converting Renminbi into foreign currencies for capital expenses[140]. Corporate Structure and Financing - The company is incorporated under Cayman Islands law, which may limit shareholders' rights compared to U.S. domestic issuers[178]. - The company has established a wholly foreign-owned enterprise in China to facilitate operations and financing[195]. - The company completed a private offering of $5,600,000 worth of ordinary shares at a price of $2.29 per share, issuing a total of 2,445,415 shares along with warrants for additional shares[210].

Group 1 - The company Bonduelle is a French S.C.A with a share capital of €57,102,699.50 and is registered under number 447 250 044 in the Dunkerque Commercial and Companies Register [2] - As of December 31, 2024, the total number of shares forming the capital is 32,630,114, with a theoretical total of voting rights amounting to 52,526,634 [2][3] - The actual total number of voting rights, which excludes shares without voting rights, is 51,972,538 [2]

Core Viewpoint - Bon Natural Life Limited has entered a strategic cooperation agreement with Guangdong JUWO Trading Co., Ltd. to develop marketing and supply chain systems for liquor distribution and sales in mainland China, focusing on health-oriented alcoholic products [1][2]. Company Overview - Bon Natural Life Limited is a leading provider of bio-ingredient solutions in the natural, health, and personal care industries [1]. - The company operates through its subsidiary, Xi'an App-Chem Bio (Tech) Co., Ltd., which will collaborate with JUWO on this initiative [1]. Strategic Cooperation Details - The agreement allows JUWO to use the "App-chem" brand for co-branded alcoholic health products, specifically under the name "Jiangwang and App-Chem Co-Branding" [2]. - JUWO will handle the promotion and marketing of these products, leveraging its expertise in Moutai-flavor liquor and extensive distribution channels across China [2][3]. Market and Product Focus - The cooperation aims to create high-quality health alcoholic products that blend traditional Chinese culture with modern technology, utilizing App-Chem's brand influence and JUWO's distribution advantages [3]. - The partnership is expected to enhance the competitiveness of Bon Natural Life in the bio-tech industry and expand its business categories [4]. Leadership Statement - The Chairman and CEO of Bon Natural Life expressed optimism about the partnership, highlighting its potential for growth and the aim to deliver innovative product experiences to consumers [4].

IPO and Financing - The company closed its initial public offering (IPO) on June 28, 2021, raising gross proceeds of $12.65 million from the sale of 2,200,000 ordinary shares at $5.00 per share[203]. - As of the date of the annual report, net proceeds of approximately $9 million from the IPO and $1 million from the over-allotment option were transferred to PRC subsidiaries as intercompany loans[209]. - On March 30, 2023, the company initiated a public offering of up to $3 million worth of ordinary shares, but the offering was terminated on August 3, 2023, due to lack of valid subscriptions[220][222]. - A private offering closed on January 17, 2023, resulting in the issuance of 2,750,000 ordinary shares at a subscription price of $0.80 per share, generating total proceeds of $2.2 million[224]. Compliance and Regulatory Issues - The company received a notification from Nasdaq on June 12, 2023, regarding non-compliance with the minimum bid price requirement of $1.00 per share for thirty consecutive days[218]. - Nasdaq granted the company an additional 180-day period until June 10, 2024, to regain compliance with the bid price requirement[219]. - The company’s ability to distribute dividends is subject to PRC regulations, which may impose restrictions on the remittance of foreign currency for dividend payments[212]. - The company must comply with extensive regulations governing the food industry, including obtaining necessary permits and licenses for production and distribution[314]. Corporate Structure and Operations - The company operates through a direct holding structure, with Bon Natural Life Limited controlling its PRC subsidiaries through its Hong Kong subsidiary, Tea Essence[207]. - The company restructured its corporate structure by terminating VIE agreements, converting Xi'an App-Chem into a Sino-foreign joint venture, and transferring 100% ownership to its subsidiaries, effective November 1, 2021[229][230]. - The company formed a new wholly foreign-owned enterprise, Xi'an Youpincui, on September 8, 2021, and incorporated Bon Natural Life U.S.A. on February 7, 2023[227]. Financial Performance - Key financial performance indicators include growth in net revenue and gross profit, with a focus on controlling costs and improving operating efficiency[232]. - For the year ended September 30, 2023, net revenue was driven by fragrance compounds (48.5%), health supplemental powder drinks (29.5%), and bioactive food ingredients (22.0%)[378]. - Total revenue decreased by 1.3% to $29,522,353 for the year ended September 30, 2023 compared to $29,908,561 in 2022[391]. - Net income decreased by 27.1% to $4,552,682 for the year ended September 30, 2023 compared to $6,242,424 in 2022[389]. Product Development and Innovation - New product developments include Bon Natural Micro-eco Hair Repair Shampoo and Tianmei Jinghao Nutrition Powder, with ongoing innovation in natural functional ingredients[241]. - The company produces ambroxide with a purity of 99.5%, exceeding the industry average of approximately 99.0%, and a yield of approximately 63% compared to the industry average of 40% to 43%[240]. - The company offers customized product development and technical support services to enhance customer loyalty and competitiveness in the marketplace[239]. Market and Competition - The company has established a strong reputation in the natural ingredients industry, particularly in the field of micro-biome health[259]. - Competitor Quantum Hi-Tech has a total market value of approximately $1 billion as of March 2020, indicating a competitive landscape[260]. - BY-HEALTH's total market value reached ¥27.2 billion as of March 2020[267]. Supply Chain and Customer Base - For the year ended September 30, 2023, three suppliers accounted for approximately 41.8%, 29.5%, and 11.19% of total purchases, indicating a significant reliance on key suppliers[255]. - For the year ended September 30, 2023, three customers accounted for 42.7%, 24.7%, and 13.2% of total revenue, highlighting a concentrated customer base[256]. - The total number of customers decreased by 11.3% from 142 in 2022 to 126 in 2023[379]. Production and Operational Challenges - The ongoing COVID-19 pandemic has affected the company's operations, with potential future impacts on revenue and cash flows still uncertain[231]. - The production challenges due to frost damage and pandemic control measures significantly impacted the procurement of key raw materials[397]. - The company shifted to producing low-concentration apple polyphenol juice due to technical challenges in extracting from larger apples[397]. Regulatory Compliance and Certifications - The company has obtained the required Food Production Licenses and Food Business Licenses, including a Food Production License expiring on August 8, 2028, and a Food Business License obtained on November 28, 2022[315]. - Xi'an App-Chem has received REACH certification for ambroxide in the European Union and GRAS certification from the FDA for clary sage[315]. - The company has kosher and halal certifications for certain products, ensuring compliance with various market regulations[315].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of September 2023 Commission File Number 001-40517 BON NATURAL LIFE LIMITED (Translation of registrant's name into English) C601, Gazelle Valley, No.69 Jinye Road Xi'an Hi-Tech Zone, Xi'an, China People's Republic of China (Address of principal executive offices) Indicate by check mark whether the registrant f ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of June 2023 Commission File Number 001-40517 BON NATURAL LIFE LIMITED (Translation of registrant's name into English) 25F, Rongcheng Yungu, Keji 3 Road Xi'an Hi-Tech Zone, Xi'an, China People's Republic of China (Address of principal executive offices) Indicate by check mark whether the registrant files or wi ...