Marvion Inc (OTC: MVNC) is a Hong Kong-based logistics and warehousing company that provides last-mile delivery, warehousing, transloading, and business consulting services. Revenue is generated through storage fees, transloading fees, last-mile delivery service fees, and business consulting engagements across its three operating subsidiaries: UWML (warehousing), KSK (last-mile delivery), and PEL (business consulting). The company pivoted to its current business model following the September 12, 2024 acquisition of UWMC, at which point it divested its prior lifestyle, media, entertainment, and technology operations. KSK operates a fleet of five 5.5-ton trucks with a team of 18 employees across Hong Kong districts, with approximately 90% of KSK's business derived from a single client, Asis-Express Logistics Limited, which primarily services SF Express's e-commerce logistics in Hong Kong. The company carries a going concern qualification as of its 10-K filed March 31, 2026, with auditors expressing substantial doubt about its ability to continue operations.

Revenue model

Transactional fees across three categories: storage fees, transloading fees (quick turnaround, no storage), and other warehouse service fees billed to warehousing and distribution customers; last-mile delivery service fees charged to corporate clients in the furnishing and appliance industry; and business consulting fees from corporate clients via PEL.

Products and services

Warehousing and distribution services (storage, transloading, racking and bulk storage) operated from a facility within 19 miles of the Port of Hong Kong and 37 miles from Hong Kong Airport; last-mile package delivery services for furnishings and appliances across Hong Kong districts using five 5.5-ton trucks; subcontractor network management for competitive warehouse pickup and last-mile delivery pricing; business consulting services including client acquisition, capital sourcing, and partnership development.

Customers and end markets

Corporate customers in footwear, apparel, giftware, home appliances, furnishings, and e-commerce logistics. KSK's named clients include Furniture Station, Asis-Express Logistics Holdings Limited (HKEX: 8620.HK), and Federal Express (NYSE: FDX). Approximately 90% of KSK revenue as of the FY2025 10-K comes from Asis-Express Logistics Limited. UWML serves freight and warehousing-only customers requiring transloading proximity to the Port of Hong Kong.

Value-chain role

Third-party logistics provider occupying the warehousing, transloading, and last-mile delivery segments of the supply chain. Operates as an intermediary connecting port-adjacent storage with end-customer delivery, and facilitates connections between subcontractor logistics providers within its delivery network.

Geographic exposure

Operations concentrated in Hong Kong. Primary warehouse located within 19 miles of the Port of Hong Kong and 37 miles from Hong Kong Airport. KSK delivery routes cover various districts in Hong Kong.

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

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