QDM International Inc.

QDM is a holding company incorporated in Florida that conducts its insurance brokerage business primarily in Hong Kong through its indirectly wholly-owned subsidiary, YeeTah. YeeTah sells a wide range of insurance products, which fall into two main categories: life and medical insurance, such as individual life insurance; and general insurance, such as automobile insurance, commercial property insurance, liability insurance, and homeowner insurance. As a Mandatory Provident Fund ("MPF") intermediary, YeeTah is also licensed to assist customers with information collection, explanation of MPF products and policies (excluding investment advisory services), applications to set up MPF accounts, and transfer of funds across their MPF schemes. The MPF and the Occupational Retirement Schemes Ordinance ("ORSO") schemes in Hong Kong are retirement protection schemes for Hong Kong resident employees. YeeTah sells insurance products underwritten by insurance companies operating in Hong Kong to individual customers who are either Hong Kong residents or visitors from mainland China. YeeTah is compensated by commissions paid by insurance companies, typically a percentage of the premium paid by the insured. Commissions generally depend on the type and term of insurance products and the specific insurance company, and are usually paid the month after the policy's cooling-off period, which is generally 21 days after the earlier of policy delivery or cooling-off notice delivery to the policyholder. As of the date of this Report, YeeTah has agreements with 22 insurance companies in Hong Kong and offers approximately 489 insurance products. For the fiscal year ended March 31, 2025, approximately 68.1% of YeeTah's total commissions came from one insurance company. For the fiscal year ended March 31, 2024, an aggregate of 96.5% of YeeTah's total commissions came from one insurance company.