EvoAir Holdings Inc (OTC: EVOH) is an HVAC company that develops, manufactures, markets, and sells eco-friendly heating, ventilation, and air conditioning products and related services. Revenue is generated through product sales to domestic customers in Malaysia and to overseas customers, with manufacturing and R&D operations conducted through its subsidiary WKL Eco Earth Sdn. Bhd. (incorporated in Malaysia, May 17, 2017) and marketing and R&D support through WKL Eco Earth Holdings Pte. Ltd. (incorporated in Singapore, July 12, 2018). The company reported a gross loss of $19,767 for the year ended August 31, 2025, compared to a gross loss of $8,319 for the year ended August 31, 2024, reflecting low revenue and inefficient absorption of fixed manufacturing costs. A net loss of $14,968,005 was recorded for the year ended August 31, 2025, with cash and cash equivalents of $93,329 as of August 31, 2025. As of the 10-K filed November 12, 2025, the company had 24 full-time employees across functions including production, R&D, sales, and finance.

Revenue model

Transactional product sales of eco-friendly HVAC units and related services, primarily to customers in Malaysia and overseas markets. The company recorded a gross loss in both FY2025 and FY2024, indicating revenue has not covered manufacturing costs in recent periods.

Products and services

Eco-friendly HVAC products sold under proprietary product line brands, manufactured and developed through WKL Eco Earth Sdn. Bhd. in Malaysia. Related services are also offered alongside hardware sales.

Customers and end markets

Domestic customers in Malaysia and overseas customers. End markets include residential and commercial HVAC buyers. No individual customer concentration data is disclosed in the filing excerpts.

Value-chain role

Vertically involved from R&D and manufacturing through marketing and direct sales. The company designs and manufactures its own branded HVAC products and sells them to end customers.

Geographic exposure

Primary operations in Malaysia, with additional investment holding and R&D functions in Singapore and China. Sales span domestic Malaysia and unspecified overseas markets.

Competitors

Mitsubishi Electric Corp, Haier Smart Home Co Ltd, Lennox International Inc

Source: SEC 10-K, filed 2025-11-12

Industry: Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip