Paranovus Entertainment Technology Ltd.

Paranovus Entertainment Technology Ltd. is a holding company that conducts its operations primarily through its 51% owned subsidiary, BW, in the U.S. Historically, the company engaged in various businesses through its operating subsidiaries in the People's Republic of China (PRC), including nutraceutical and dietary supplements (divested in August 2023), e-commerce (suspended in September 2023), internet information and advertising (suspended in September 2023), and automobile sales (divested in July 2024). As of the date of this annual report, Paranovus Entertainment Technology Ltd. does not have any business or operations in the PRC. On March 25, 2025, Paranovus Entertainment Technology Ltd. acquired a 51% equity interest in BW for $22,440,000 in cash. BW operates through its two wholly owned subsidiaries, Bomie US LLC in New Jersey and WooKoo LLC in Texas. These subsidiaries engage in e-commerce business on TikTok and provide e-commerce solutions to customers. BW, through Bomie US LLC and WooKoo LLC, offers product sales via offline and e-commerce channels and provides TikTok-related e-commerce solutions. Bomie US LLC's offline product sales primarily involve wholesale sales of footwear, including branded sneakers, and other consumer products. These products are acquired in bulk or lot purchases from third-party suppliers. Bomie US LLC's customers are mainly independent wholesalers, distributors, and resellers who then resell the products through their own channels, which may include e-commerce platforms and physical retail outlets. Bomie US LLC sources products based on available inventory and customer demand, takes title to and control of products before resale, sets resale prices, and manages inventory, fulfillment, and collection risks.