MDJM LTD

MDJM is a Cayman Islands exempted company incorporated on January 26, 2018. The company operates through its wholly-owned subsidiary, MDJH Hong Kong, which was incorporated on February 9, 2018. Prior to August 25, 2025, MDJH Hong Kong held a 100% ownership interest in Mingda Beijing, a limited liability company organized on March 9, 2018 under the laws of the PRC. Mingda Beijing was classified as a wholly foreign-owned enterprise. On April 28, 2018, Mingda Beijing entered into contractual arrangements with Mingda Tianjin and its shareholders. Mingda Tianjin, a limited liability company organized on September 25, 2002 under the laws of the PRC, changed its name to Mingdajiahe (Tianjin) Co., Ltd. on February 2, 2021. Mingda Tianjin conducted MDJM's primary business operations in China prior to 2023. Since 2023, Mingda Tianjin has scaled down and ceased providing real estate agency services and, as of the date of this annual report, has no business operations. On October 28, 2020, MD UK was formed under English laws, with MDJM holding 100% of its equity interest. MD UK commenced operations in 2021, focusing on developing and launching real estate development projects and hospitality programs, including hotel operations. On June 15, 2021, Mansions was formed as a limited company under English laws, engaging in the hotel management business, and commenced operations in 2021. Initially, 51% of Mansions was held by MD UK, 41% by Ocean Tide Wealth Limited, and 8% by Mingzhe Zhang. On May 20, 2022, MD UK acquired the 41% equity interest in Mansions from Ocean Tide Wealth Limited for one British pound sterling and the 8% equity interest from Mingzhe Zhang for one British pound sterling.