QDM International Inc. operates as a holding company in Florida with its primary business in Hong Kong through its subsidiary YeeTah, offering insurance brokerage and financial services with a focus on life, medical, and general insurance products.

# Company Summary: QDM International Inc.

## Business Overview
- **Type:** Holding company incorporated in Florida, primarily conducting business through its wholly-owned subsidiary YeeTah in Hong Kong.
- **Core Business:** Insurance brokerage and financial services in Hong Kong, focusing on the distribution of insurance products, MPF (Mandatory Provident Fund), and ORSO (Occupational Retirement Schemes Ordinance) schemes.

## Main Operations
- **Insurance Products Sold:** 
  - *Life and Medical Insurance:* Including individual health, critical illness, medical, annuity, endowment life insurance.
  - *General Insurance:* Including automobile, homeowner, liability, individual accident, and travel insurance.
- **Distribution Channel:** 16 licensed technical representatives (including 7 full-time employees and 9 independent contractors).
- **Customer Base:**
  - *Life & Medical Insurance:* 263 customers (fiscal year ending March 31, 2025), up from 133 in 2024.
  - *General Insurance:* 36 customers (2025) and 33 in 2024.
  - *MPF & ORSO Services:* 1 customer (2025) and 5 in 2024.
  - *Hong Kong Customers:* 7 (2025) out of total customers.
  - *Mainland China Customers:* 256 (2025), increased from 127 in 2024.
- **Insurance Company Partnerships:** Agreements with 22 insurance companies in Hong Kong.
- **Insurance Products Offered:** Approximately 489 insurance products.
- **Revenue Streams:** 
  - Commissions from insurance companies, generally 2.75% to 90% of first-year premiums and 0% to 64.8% of renewal premiums.
  - *2025 Fiscal Year:* Total commissions = approximately $7.67 million.
  - *2024 Fiscal Year:* Total commissions = approximately $6.91 million.
- **Other Services:** 
  - MPF and ORSO account setup, transfer of funds (1%–5% fee).
  - Referral business with a trust company, generating ~$540,616 in FY2025.
  
## Financial Highlights
- **Revenue (FY2025):** Approx. $8.49 million (including commissions and referral business).
- **Net Income (FY2025):** Not explicitly disclosed, but the company recognized a gain of $33,165 from the sale of QDMS in October 2023.
- **Customer Growth:** Increased from 133 (2024) to 263 (2025) in life and medical insurance.

## Strategic Focus & Growth
- Focus on expanding the life insurance segment.
- Building relationships with strategic partners in mainland China and Hong Kong.
- Maintaining good relationships with leading insurance companies.
- Providing premium customer service and personalized insurance advice.
- Emphasizing rigorous training for sales staff and technical representatives.
- Growing distribution network via partnerships and recruiting efforts.

## Business Structure & Geographical Focus
- **Structure:** Florida holding company with indirect Hong Kong operations (YeeTah).
- **No operations in Mainland China;** business strictly in Hong Kong.
- **Risks:** Subject to Hong Kong and PRC regulations, political risks, currency peg system, and U.S. regulatory risks related to audits and securities laws.

## Employees & Representatives
- Total of **9 employees** as of March 31, 2025.
- **16 technical representatives** actively selling insurance products in Hong Kong.

## Summary
QDM International Inc. operates as a holding company with its primary business in Hong Kong via YeeTah, an insurance brokerage firm. YeeTah provides a broad range of insurance products, primarily focusing on life and medical insurance, complemented by general insurance offerings. It has over 263 customers in FY2025, with a significant concentration of commissions from one insurance company as of FY2024 and FY2025. The company emphasizes customer service, strong relationships with insurers, and expanding its distribution network to grow its business.

QDM is a Florida-based holding company that operates an insurance brokerage business primarily through its subsidiary YeeTah in Hong Kong, focusing on life and medical insurance products.

# QDM

## Business model and operations
QDM is a Florida holding company that conducts insurance brokerage business through its wholly owned Hong Kong subsidiary, YeeTah. YeeTah offers a broad range of insurance products in two primary categories:

- Life and medical insurance
  - Individual life, endowment life, annuity life, and critical illness insurance.
  - Major revenue source: approximately 99.90% of total net revenues for the fiscal year ended March 31, 2024.
- General insurance
  - Automobile, commercial property, accidental, travel, and homeowner insurance.
  - These products accounted for less than 1% of total net revenues for the fiscal year ended March 31, 2024.

YeeTah is licensed as a Mandatory Provident Fund (MPF) intermediary and assists customers with account opening and related services under the MPF and Occupational Retirement Schemes Ordinance (ORSO) schemes in Hong Kong.

## Customers and revenue
As of March 31, 2024:
- Life and medical insurance customers: 133
- General insurance customers: 33
- MPF services customers: 5
- Primary markets: Hong Kong and mainland China

Revenue details:
- Fiscal year ended March 31, 2024
  - Total commissions: USD 6,368,929.77
  - Company A contributed 96.5% of commissions
  - Commission rates typically range from 2.78% to 188% of first-year premiums for life insurance, and from 8.0% to 57.5% for general insurance
- Fiscal year ended March 31, 2023
  - Total commissions: USD 1,134,320.40
  - Company A contributed 91.1% and Company B contributed 0.1%

## Employees and technical representatives
As of March 31, 2024:
- Total employees: 7 (including 5 full-time employees and 2 executive officers)
- Technical representatives: 11 independent contractors licensed to provide insurance-related services

## Future plans and growth strategy
QDM plans to expand its distribution network by:
- Increasing participation in the life insurance sector
- Building relationships with strategic partners in Hong Kong and mainland China
- Strengthening relationships with leading insurance companies to secure better commission rates and exclusive product rights

## Summary
Through YeeTah, QDM provides insurance solutions in Hong Kong with concentrated revenue from a small number of insurance partners. The company is focused on market expansion, regulatory compliance, and maintaining a service-oriented approach to customers.

QDM International Inc.

10-K / July 10, 2025

10-K / July 1, 2024

10-K / July 10, 2025

Company Summary: QDM International Inc.

Business Overview

Main Operations

Financial Highlights

Strategic Focus & Growth

Business Structure & Geographical Focus

Employees & Representatives

Summary