Dswiss Inc (OTC: DQWS) is a health and beauty products company that develops, manufactures, and sells nutraceutical supplements and skincare products, operating primarily through OEM and ODM manufacturing services. Revenue comes from direct product sales and contract manufacturing fees paid by brand clients who use DSwiss facilities for formulation, production, packaging, and regulatory filing. The company operates exclusively online through dswissbeauty.com for direct sales and recruits distributors across Southeast Asia for wholesale channel reach. DSwiss was incorporated through its Malaysian operating subsidiary DSwiss Sdn Bhd in March 2011, with DSwiss Biotech Sdn Bhd added in Malaysia in March 2016 for R&D activities. The corporate structure includes a Seychelles holding entity and a Hong Kong subsidiary for international trade, both established May 28, 2015. Operations are anchored in Malaysia, with active markets including Singapore, Indonesia, Hong Kong, and China as of the 10-K filed March 31, 2026. Net cash used in operating activities was $94,303 for the year ended December 31, 2025, compared to net cash generated of $182,556 for the year ended December 31, 2024.

Revenue model

Transactional product sales through the company's online store and distributor network, plus OEM and ODM contract manufacturing fees from brand clients. Revenue also includes related-party sales of $13,366 for the year ended December 31, 2025 (versus $7,725 for the year ended December 31, 2024). The filing states revenues from current operations were sufficient to fund operations in FY2025.

Products and services

Health supplements available in powders, liquids, chewable tablets, jellies, tea bags, capsules, and gummies. Beauty products including anti-aging creams and beverages formulated for weight management. OEM and ODM contract manufacturing services covering product formulation, packaging design, regulatory submission to Malaysia Ministry of Health and HALAL authorities, and GMP-certified production. Private label turnkey manufacturing is also offered as of the 10-K filed March 31, 2026.

Customers and end markets

End consumers purchasing health and beauty products online, and brand clients contracting OEM or ODM manufacturing services. Markets served include Malaysia, Singapore, Indonesia, Hong Kong, and China as of the 10-K filed March 31, 2026. The company uses social media channels including Facebook, Instagram, and WeChat for direct consumer outreach and distributor recruitment across Southeast Asia.

Value-chain role

Vertically integrated manufacturer and brand owner. DSwiss conducts in-house R&D through DSwiss Biotech Sdn Bhd, runs GMP-certified production with internal laboratory testing, handles packaging design and regulatory filing, and sells finished products directly or through distributors. Also acts as a contract manufacturer for third-party brands via OEM and ODM services.

Geographic exposure

Primary operations in Malaysia. Active sales markets as of the 10-K filed March 31, 2026 include Malaysia, Singapore, Indonesia, Hong Kong, and China. International trade routed through DSwiss (HK) Limited in Hong Kong. Trademark registrations noted in Cambodia, Malaysia, Singapore, China, Hong Kong, India, Myanmar, Vietnam, and EUIPO.

Source: SEC 10-K, filed 2026-03-31

Industry: Perfumes, Cosmetics & Other Toilet Preparations