DONGGUAN, China and PLANO, Texas, March 31, 2025 /PRNewswire/ -- Dogness (International) Corporation ("Dogness" or the "Company") (NASDAQ: DOGZ), a developer and manufacturer of a comprehensive line of Dogness-branded, OEM and private label pet products, today announced its financial results for the six months ended December 31, 2024. Mr. Silong Chen, the CEO of the Company, commented: "We delivered robust financial results for the half year ended December 2024, marked by strong revenue growth, increased op ...

DONGGUAN, China and PLANO, Texas, March 24, 2025 /PRNewswire/ -- Dogness (International) Corporation ("Dogness" or the "Company") (NASDAQ: DOGZ), a developer and manufacturer of a comprehensive line of Dogness-branded, OEM and private label pet products, today announced its annual meeting of shareholders for the fiscal year ended June 30, 2024, will be held on March 27, 2025, at 9:00 a.m. China Time (9:00 p.m. Eastern Time on March 26, 2025). The meeting will be held at the Company's executive office at No. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol Name of each exchange on which registered Common Shares, no par value per share DOGZ NASDAQ Capital Market FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(B) OR 12(G) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR ...

PLANO, Texas, May 17, 2024 /PRNewswire/ -- Dogness (International) Corporation ("Dogness" or the "Company") (NASDAQ: DOGZ), a developer and manufacturer of a comprehensive line of Dogness-branded, OEM and private label pet products, today announced that it closed a private placement transaction (the "Private Placement"), raising US$5.0 million in gross proceeds, from the sale of 2,000,000 of the Company's Class A common shares (the "Shares") to various purchasers (the "Purchasers"), priced at US$2.50 per sh ...

PLANO, Texas, May 9, 2024 /PRNewswire/ -- Dogness (International) Corporation ("Dogness" or the "Company") (NASDAQ: DOGZ), a developer and manufacturer of a comprehensive line of Dogness-branded, OEM and private label pet products, today announced that it entered into a private placement transaction (the "Private Placement") for US$5.0 million in gross proceeds, from the sale of 2,000,000 of the Company's Class A common shares (the "Shares") for US$2.50 per Share. The Shares are being sold to certain non-U. ...

PLANO, Texas, April 18, 2024 /PRNewswire/ -- Dogness (International) Corporation ("Dogness" or the "Company") (NASDAQ: DOGZ), a developer and manufacturer of a comprehensive line of Dogness-branded, OEM and private label pet products, today announced its financial results for the six months ended December 31, 2023. Silong Chen, Chairman and Chief Executive Officer of Dogness, commented, "We continue to face challenges due to intense competition in the domestic market and the ongoing trade dispute between Ch ...

PLANO, Texas , Feb. 23, 2024 /PRNewswire/ -- Dogness (International) Corporation ("Dogness" or the "Company") (NASDAQ: DOGZ), a developer and manufacturer of a comprehensive line of Dogness-branded, OEM and private label pet products, today announced its annual meeting of shareholders for the fiscal year ended June 30, 2023, will be held on February 28, 2024, at 9:00 a.m. China Time (8:00 p.m. Eastern Time on February 27, 2024). The meeting will be held at the Company's executive office at No. 16 N. Dongke ...

Company Incorporation and Capital Structure - Dogness was incorporated on July 11, 2016, with a share capital of US$200,000 divided into 100,000,000 Common Shares of par value US$0.002 each[269] - Mr. Silong Chen sold 5,931,000 Common Shares for $18,843,000, retaining a 60.46% equity interest in the company[270] Acquisitions and Subsidiaries - Dogness acquired 100% equity interests in Zhangzhou Meijia Metal Product Co., Ltd for $11.1 million (RMB 71.0 million) to expand production capacity[278] - Dogness Intelligence Technology Co., Ltd was incorporated with a registered capital of RMB 80 million (approximately $11.0 million) for smart pet product research and manufacturing[279] - Dogness Pet Culture (Dongguan) Co., Ltd was incorporated with a registered capital of RMB 10 million (approximately $1.5 million) but was liquidated in 2023[280] - Dogness Japan Co. Ltd was incorporated in 2019 with a $142,000 investment for 51% ownership, but the stake was sold in 2020 due to lack of revenue[281] Smart Pet Ecosystem and Product Development - Dogness focuses on connected pet care, integrating smart technology into pets' lives through the "Smart Pet Ecosystem"[285] - The Dogness mobile app allows pet owners to remotely interact with their pets using smart products connected via Wi-Fi or cellular service[286] - Dogness Smart CAM Feeder holds 6.5 pounds of dry food and includes a built-in camera with night vision for monitoring pets' eating habits[288] - Dogness Smart Fountain Mini and Smart Fountain Plus offer 1L and 3.2L capacities respectively, featuring a three-stage filtering system for clean water[291] - Dogness launched the C6 GPS Tracker "Discover" with 4G compatibility, allowing pet owners to track pets' locations, set virtual fences, and monitor activity levels[293] - The company's pet care products include two shampoo lines: One on One Service (for consumer purchasers) and Professional Bathing & Spa (for professional groomers), with seven breed-tailored shampoo products[295] - Dogness produces between 500 and 600 traditional collars, harnesses, and leashes across seven series, using materials like leather, nylon, and Teflon-coated fabrics[296] - The company's retractable leashes feature accessories such as LED lights, convenience boxes, and Bluetooth speakers to enhance the pet walking experience[297] - Dogness plans to launch new products, including indoor pet toilets and air purifiers, as part of its upcoming product lineup[300] - The company is developing pet health and wellness products, including supplements and nutrition products, in consultation with veterinarians and pharmacists[301] Market Focus and Revenue Breakdown - Dogness' primary market is mainland China, with 36.0%, 46.3%, and 56.3% of products sold in China in fiscal 2023, 2022, and 2021, respectively[303] - Total revenue for the year ended June 30, 2023 was $17,584,454, a decrease of 35.1% compared to $27,095,197 in 2022[376] - Export sales accounted for 64.0% of total sales in 2023, up from 53.7% in 2022 and 43.7% in 2021[377] - Traditional pet products contributed 47.2% of total revenue in 2023, up from 42.2% in 2022, while intelligent pet products decreased to 42.1% from 49.8%[376] - The company's four largest customers accounted for 15.4%, 11.6%, 8.8%, and 5.3% of total revenue in 2023[378] - Sales in the China domestic market decreased to 36.0% of total revenue in 2023 from 46.3% in 2022[377] - Revenue from Mainland China decreased by $6.2 million (49.6%) to $6.3 million, accounting for 36.0% of total revenue in fiscal 2023[396] - Revenue from the United States decreased by $1.8 million (22.0%) to $6.2 million, accounting for 35.4% of total revenue in fiscal 2023[396] - Sales to related parties accounted for 9.7% of total revenue in fiscal 2023, totaling $1.7 million[394] - Total international sales decreased by $3.3 million (22.6%) to $11.3 million in fiscal 2023, driven by a soft global economy post-pandemic[398] - Domestic sales decreased by $6.2 million (49.6%) to $6.3 million in fiscal 2023, with traditional pet products and intelligent pet products sales declining by 50.6% and 53.1%, respectively[401][402] Financial Performance and Expenses - Gross profit decreased by $6.5 million (63.9%) to $3.7 million in fiscal 2023, with gross margin dropping from 37.4% to 20.8%[386] - Net loss of $7.5 million in fiscal 2023 compared to net income of $3.0 million in fiscal 2022, a decrease of $10.5 million (347.3%)[386] - Revenue from intelligent pet products decreased by $6.1 million (45.1%) to $7.4 million, driven by lower sales volume and a $10.8 decrease in average selling price[391] - Revenue from traditional pet products decreased by $3.1 million (27.4%) to $8.3 million, mainly due to a $0.3 decrease in average selling price[390] - Dyeing services revenue decreased to $0 in fiscal 2023 from $342,561 in fiscal 2022, a 100.0% decrease[393] - Climbing hooks and others revenue remained consistent at approximately $1.8 million in both fiscal 2023 and 2022[392] - Gross profit for intelligent pet products decreased by $4.1 million, with gross profit margin dropping by 19.4 percentage points to 24.4% in fiscal 2023[406][407] - General and administrative expenses increased by $3.1 million (45.4%) to $9.8 million in fiscal 2023, primarily due to higher rental expenses and professional consultant fees[410] - Research and development expenses remained consistent at $0.9 million in fiscal 2023, with expectations for increased spending on environmentally-friendly materials and new high-tech products[411] - Foreign currency translation adjustments resulted in a loss of $6.2 million in fiscal 2023, impacting revenue, operating expenses, and net loss due to RMB depreciation[415][416] - Net cash used in operating activities was $8.9 million in fiscal 2023, including a net loss of $7.5 million and adjustments for non-cash items of $5.3 million[460] - Net cash used in investing activities was $1.5 million in fiscal 2023, primarily due to $1.5 million spent on construction projects for manufacturing facilities and warehouse improvements[464] - Net cash provided by financing activities was $20.9 million in fiscal 2022, mainly from $19.1 million in net proceeds from private placements and $4.6 million from the exercise of warrants and options[466] Research and Development - The company's R&D expenses were $931,078 in fiscal 2023, representing 5.3% of total revenues, with a focus on environmentally-friendly materials and new product development[311] - Dogness holds 201 patents globally, including 135 in China, 19 in Germany, 27 in Japan, and 20 in the United States, as of September 25, 2023[312] - The company has registered 181 trademarks, including 162 in China, all fully owned and in use[353] - The company has successfully obtained 135 patents, including 87 in China, comprising 15 invention patents, 50 utility patents, and 70 design patents[354] Production and Manufacturing - The company's vertically integrated production allows it to control costs and ensure quality, with manufacturing operations in Dongguan and Zhangzhou, China[302] - The company's main factory in Dongguan has a productive capacity of 8,500,000 pieces per year with a current utilization rate of approximately 65%[358] - The company acquired Zhangzhou Meijia Metal Product Co., Ltd for $10.0 million, which owns land use rights to 19,144.54 square meters and buildings totaling 18,912.38 square meters[360] - The Meijia plant reached its designed production capacity in June 2021 after total actual costs of RMB 118.5 million ($18.4 million) were incurred[360] - The company entered a long-term lease for 7,026 square meters of land and 5,000 square meters of buildings in Dongguan, with total payments of approximately RMB 261.7 million ($36.1 million) as of June 30, 2023[362] - The company purchased an office building of 6,373 square feet in Dallas, Texas, for $1.37 million in March 2018[359] - The company's subsidiary Dogness Culture completed a pet-themed retail store decoration project with a total budget of RMB 2.2 million ($0.3 million)[363] - The company's fixed assets include office equipment, buildings, and production equipment for metal, plastic, and nylon components[363] - The company's acquisition of Meijia enables it to build its own facility and expand production capacity sustainably to meet increased customer demand[370] Foreign Investment and Regulatory Compliance - Foreign-invested enterprises (FIEs) can settle foreign exchange capital at their discretion, with Renminbi kept in a designated account and requiring supporting documents for further payments[324] - Renminbi converted from foreign exchange capital cannot be used for securities investment, entrust loans, or real estate purchases not for self-use, except for foreign-invested real estate enterprises[324] - Non-investment-oriented foreign-funded enterprises are allowed to make domestic equity investments with capital funds, provided they comply with the negative list and investment projects are true and compliant[326] - Foreign investors or FIEs must submit investment information to the competent commerce department when carrying out investment activities in China[327] - FIEs must register changes in capital or basic information with banks within four weeks after approval or filing with competent authorities[328] - Mainland China residents must register offshore entities established for overseas financing, with amendments required for significant changes in capitalization or structure[330] - Wholly foreign-owned enterprises in China must set aside at least 10% of after-tax profits annually to general reserves until cumulative reserves reach 50% of registered capital[332] - Dividends payable by FIEs to foreign investors are subject to a 10% withholding tax, or 5% for Hong Kong residents, unless a tax treaty provides a lower rate[333] - Overseas special purpose vehicles controlled by mainland China entities must obtain CSRC approval before listing on overseas stock exchanges[335] - Foreign debt registration with SAFE is required within 15 business days after entering into a foreign debt contract, with limits based on total investment and registered capital balance[341] Strategic Initiatives and Future Plans - The company is focusing on developing new customers and markets, as well as a new generation of intelligent pet products to mitigate weak sales[380] - The company plans to acquire smaller pet product manufacturers in China to expand and integrate the industrial chain[383] - The company aims to streamline its supply chain process and leverage economies of scale to cut costs and improve efficiency[384] - The company is implementing cost-saving measures to improve production efficiency and profit margins[380] - The company's operations are negatively affected by the ongoing trade dispute between China and the United States[380] Historical Financial Performance - Revenue increased by $2.8 million (11.4%) to $27.1 million in fiscal 2022, driven by higher sales of intelligent pet products[420] - Intelligent pet products sales increased by $5.7 million (73.0%) to $13.5 million, with a 14.1% increase in sales volume and a $10.4 increase in average selling price[426] - Traditional pet products revenue decreased by $2.9 million (20.2%) to $11.4 million, with a 10.4% decrease in sales volume and a $0.1 decrease in average selling price[425] - Climbing hooks and others revenue increased by $0.4 million (31.4%) to $1.8 million, with a 25.7% increase in sales volume and a $0.1 increase in average selling price[428] - Dyeing services revenue decreased by $0.5 million (58.1%) to $0.3 million in fiscal 2022[423] - Sales to related parties accounted for 8.2% ($2.2 million) of total revenue in fiscal 2022, up from 5.0% ($1.2 million) in fiscal 2021[431] - Gross profit increased by $0.98 million (10.7%) to $10.1 million, with gross margin slightly decreasing from 37.6% to 37.4%[419] - R&D expenses increased by $0.38 million (69.7%) to $0.92 million, reflecting increased investment in new product development[419] - Net income increased by $1.7 million (132.2%) to $3.0 million, despite a significant increase in income tax expense[419] - The company expanded sales channels to online platforms and live streaming, contributing to higher profit margins[421] - Total international sales increased by $3.9 million (36.8%) from $10.6 million in fiscal 2021 to $14.5 million in fiscal 2022, driven by strong demand in the U.S., Japan, and other Asian countries[434] - U.S. sales grew by $2.0 million (32.4%) to $8.0 million in fiscal 2022, while Japan and other Asian markets saw a $1.7 million (131.0%) increase to $3.0 million[434] - Sales of intelligent pet products surged by $4.4 million (137.5%) in fiscal 2022, while traditional pet products declined by $0.6 million (8.2%)[436] - Domestic sales in China decreased by $1.1 million (8.3%) to $12.6 million in fiscal 2022, primarily due to a $2.3 million (30.9%) drop in traditional pet products[438] - Intelligent pet products in China grew by $1.3 million (28.7%) in fiscal 2022, reflecting increased demand for smart pet products among younger consumers[439] - Gross profit increased by $1.0 million (10.7%) to $10.1 million in fiscal 2022, with intelligent pet products contributing $1.9 million in gross profit growth[443][446] - Research and development expenses rose by $0.4 million (69.7%) to $0.9 million in fiscal 2022, reflecting increased investment in product innovation[448] - Selling expenses increased by $0.3 million (14.4%) to $2.1 million in fiscal 2022, driven by higher Amazon online sales promotion fees[448] - Total operating expenses grew by $2.8 million (37.9%) to $10.1 million in fiscal 2022, with general and administrative expenses accounting for $1.8 million of the increase[448] - General and administrative expenses increased by $1.8 million (36.5%) from $4.9 million in fiscal 2021 to $6.7 million in fiscal 2022, primarily due to increased professional consultant fees, decoration and maintenance fees, and depreciation expenses[449] - Research and development expenses increased by $0.4 million (69.7%) from $0.5 million in fiscal 2021 to $0.9 million in fiscal 2022, representing 3.4% of total revenues in fiscal 2022[450] - The company disposed of outdated machinery and equipment, resulting in a $0.3 million loss from the disposition of fixed assets in fiscal 2022[450] - Other income increased by $0.1 million to $0.2 million in fiscal 2022, mainly due to a $0.5 million increase in foreign exchange gain[451] - Income tax benefit was $2.8 million in fiscal 2022, compared to an income tax expense of $0.6 million in fiscal 2021, primarily due to the reversal of $3.0 million in accrued tax liabilities[451] - Net income increased by $1.7 million to $3.0 million in fiscal 2022, driven by increased income tax benefit offset by higher operating expenses[454] - Foreign currency translation adjustments resulted in a loss of $3.2 million in fiscal 2022, compared to a gain of $4.9 million in fiscal 2021[455]

Exhibit 99.1 DOGNESS (INTERNATIONAL) CORPORATION CONSOLIDATED BALANCE SHEETS (Unaudited) | --- | --- | --- | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------|----------------------------|-------|------------------------| | ASSETS | As | of December 31, 2022 | As | of June 30, 2022 | | CURRENT ASSETS | | | | | | Cash and cash equivalents | $ | 723 ...