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].

Financial Performance - Total revenues for the six months ended March 31, 2023, were $14,149,967, an increase of $461,567, or 3.4%, compared to $13,688,400 in the same period of 2022[5] - Income from operations for the same period was $2,985,234, an increase of $196,875, or 7.1%, compared to $2,788,359 in the same period of 2022[5] - Net income attributable to Bon Natural Life Limited for the six months ended March 31, 2023, was $2,119,760, a decrease from $2,548,678 in the same period of 2022[5] - Basic and diluted earnings per share were both $0.24 for the six months ended March 31, 2023, down from $0.31 and $0.30, respectively, in the same period of 2022[5] Revenue Breakdown - Revenue from health supplement (powder drinks) products increased by 37.2% to $4,583,272, driven by a 50% increase in sales volume from 130,000 cases to 195,035 cases sold[16] - Revenue from fragrance compounds decreased by 8.4% to $6,810,374, primarily due to a 10.1% decrease in average selling price and a 9.5% negative impact from foreign currency fluctuations[14] - Revenues from sales of bioactive food ingredient products decreased by 5.2% to $2,756,320 in the six months ended March 31, 2023, from $2,908,919 in the same period of 2022[18] Cost and Expenses - Total operating expenses increased by 38.8% to $1,732,114, with general and administrative expenses rising by 46.8% to $1,465,955[8] - Selling expenses increased by 62.2% to $136,164 in the six months ended March 31, 2023, from $83,970 in the same period of 2022, primarily due to a significant increase in staff payroll and shipping expenses[29] - General and administrative expenses rose by 46.8% to $1,465,955 in the six months ended March 31, 2023, from $998,943 in the same period of 2022, driven by increases in staff payroll and rent expenses[30] Profitability - Gross profit for the six months ended March 31, 2023, was $4,717,348, representing a gross margin of 33.3%, up from 29.5% in the same period of 2022[8] - Gross profit increased by 16.9% to $4,717,348 in the six months ended March 31, 2023, from $4,035,947 in the same period of 2022, with a gross margin increase from 29.5% to 33.3%[25] - Gross profit from fragrance compound products increased by 12.3% to $2,024,680, while gross profit from health supplement products rose by 21% to $1,414,558 in the same period[25][27] Cash Flow and Financing - Net cash used in operating activities during the six months ended March 31, 2023, was $2,177,992, compared to $130,577 in the same period of 2022[41] - Net cash provided by financing activities during the six months ended March 31, 2023, was $1,914,916, primarily from proceeds of $2,200,000 from the issuance of Ordinary Shares[43] - Cash on hand as of March 31, 2023, was $542,272, a decrease from $1,609,079 at the end of the same period in 2022[41] Other Financial Metrics - Research and development expenses decreased by $34,680, or approximately 21.1%, from $164,675 in the six months ended March 31, 2022, to $129,995 in the same period of 2023[31] - Interest expense, net, decreased by $99,207 or approximately 35.7% in the six months ended March 31, 2023, compared to 2022[33] - Government subsidies received totaled $11,916 in the six months ended March 31, 2023, a significant decrease of 97.8% from $542,256 in the same period of 2022[34] - The provision for income taxes was $510,007 in the six months ended March 31, 2023, a decrease of $52,660 or 9.4% from $562,737 in the same period of 2022[36] - The overall net decrease in cash was $298,589 for the six months ended March 31, 2023, compared to a decrease of $294,788 in the same period of 2022[41] Customer Metrics - The company sold products to 94 customers in the six months ended March 31, 2023, an increase of 8.0% from 87 customers in the same period of 2022[10] - The average purchase order size decreased by 4.5% from approximately $157,000 to $150,000 per customer[10] Product Pricing and Sales Volume - The average price of bioactive food ingredient products decreased by 7.5% from $52.8 to $48.83, while sales volume increased by 2.4% from 55,104 kilograms to 56,444 kilograms due to strong customer demand[18] - The sales volume of health supplement products increased by 50% from 130,000 cases to 195,035 cases in the six months ended March 31, 2023[23] - The cost of revenues for bioactive food ingredient products decreased by 19.8% to $1,478,210, attributed to a 21.7% decrease in weighted average unit cost[24] - The company experienced a 9.5% negative impact from foreign currency fluctuations due to changes in the average exchange rate from RMB to USD[18][20][25] Capital Expenditure - Capital expenditure on construction-in-progress amounted to $15,131 in the six months ended March 31, 2023, compared to $3,577,995 in the same period of 2022[42]

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 ...

Bon Natural Life Limited. (NASDAQ:BON) Q4 2022 Earnings Conference Call February 10, 2023 9:00 AM ET Company Participants Unidentified Company Representative - Investor Relations Richard Hu - Chairman and Chief Executive Officer Zhenchao Li - Chief Financial Officer Yingchun Xue - COO Wenjuan Chen - CMO Conference Call Participants Operator Good day and welcome to the Bon Natural Life Fiscal Year 2022 Limited Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions]. Pl ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ OR ☐ SHELL COMPANY REPORT PURSUAN ...

Summary of Bon Natural Life Limited H2 2022 Earnings Conference Call Company Overview - **Company Name**: Bon Natural Life Limited (NASDAQ: BON) - **Industry**: Natural health and personal care, focusing on bioingredient solutions - **Product Categories**: - Fragrance compounds - Health supplements - Bioactive food ingredients - **Key Clients**: Includes major names in Asia and the US/Europe such as International Flavors & Fragrances, Mars Wrigley, and Angel Yeast [3][4] Core Financial Performance - **Revenue**: Approximately $13.7 million for H1 2022, a 17% increase year-over-year [10] - **Gross Profit**: Approximately $4 million, up 19.6% [11] - **Net Income**: Increased from $2.3 million to $2.5 million, a 10.2% rise [12] - **Diluted Earnings Per Share**: $0.30 compared to $0.40 in the same period of 2021 [12] Product Category Performance - **Fragrance Compounds**: Revenue increased by 24.9% from $6 million to $7.4 million, driven by higher average selling prices [12][13] - **Health Supplements**: Revenue decreased by 28.5% from $4.7 million to $3.3 million due to raw material shortages and logistics disruptions [13][14] - **Bioactive Food Ingredients**: Revenue surged by 171.8% from $1.1 million to $2.9 million, attributed to volume growth and higher selling prices [14] Manufacturing and Capacity Expansion - **Yumen Plant**: Construction completed, expected to commence production in September 2022. The plant aims to increase production capacity for fragrance compounds and bioactive food ingredients by 200%, with a projected 150% annualized revenue growth potential [5][24] - **New Product Development**: Introduction of innovative products such as FeatherPure and a broccoli-based probiotic drink, expected to generate approximately $3 million in revenue over two years [6][7] Market Strategy and Growth Outlook - **Domestic vs. International Sales**: Domestic sales accounted for approximately 95.7% of total revenue, with a 22.4% increase. International sales were limited to about $600,000 due to COVID-19 logistics disruptions [15] - **Future Growth Strategies**: Plans to expand product lines, develop new products targeting various health aspects, and pursue mergers and acquisitions to enhance capabilities [8][9] Key Challenges and Considerations - **Supply Chain Issues**: Ongoing challenges due to global supply chain disruptions and inflation affecting raw material costs [21] - **Market Conditions**: The company remains optimistic about maintaining growth despite slower rates compared to previous years due to external factors [22] Additional Insights - **Government Support**: Received approximately $542,000 in government subsidies, indicating continued support for high-tech companies [12] - **Management Confidence**: Leadership expressed confidence in R&D capabilities and business strategies to capture market share and sustain growth momentum [17] This summary encapsulates the key points from the earnings conference call, highlighting the company's performance, strategic initiatives, and market outlook.