ILAGNasdaqPartitions, Shelvg, Lockers, & of fice & Store FixturesUS GAAP · USD

Intelligent Living Application Group Inc.

Intelligent Living Application Group Inc. is a Hong Kong-based manufacturer and distributor of locksets and related door-hardware products. The company serves customers primarily in the United States and Canada and also develops smart-lock products alongside its traditional mechanical lockset offerings.

Revenue4.5m USD
−40.1 %y/y
Operating profit (EBIT)-19.4m USD
−400.0 %y/y
EBIT margin-430.7%
−379.1 ppy/y
Net income-19.3m USD
−424.3 %y/y
Free cash flow-2.5m USD
+22.3 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

-20-1001020m USD2020: 11 m USD2020: EBIT -1.0 m USD20202021: 13 m USD2021: EBIT -1.8 m USD20212022: 12 m USD2022: EBIT -2.3 m USD20222023: 6.4 m USD2023: EBIT -3.9 m USD20232024: 7.5 m USD2024: EBIT -3.9 m USD20242025: 4.5 m USD2025: EBIT -19 m USD20254.5-19
RevenueOperating profit (EBIT)

Business

Share of revenue
Mechanical locksets60 %

Traditional keyed locksets for residential and commercial doors.

Premium locksets20 %

Higher-specification locksets sold through distribution channels and OEM customers.

Smart locks10 %

Electromechanical and connected lock products being developed and sold.

Distribution and related hardware10 %

Distribution of lock hardware and related fixtures to end customers and intermediaries.

Customers

The company sells mainly to customers in the United States and Canada, which likely include distributors, wholesalers, retailers, and other channel partners for lock hardware. Its products are aimed at buyers that need standardized mechanical security products, as well as customers seeking upgraded or smart-lock solutions. The business depends on repeat purchasing in the construction, renovation, and replacement markets.

North American distributors

Buy locksets in volume for resale into regional hardware and construction channels.

Wholesalers and importers

Source standardized lock hardware for inventory and onward distribution.

Retail channel buyers

Purchase packaged locksets and related products for shelf or e-commerce sale.

Construction and renovation buyers

Use locksets for new build, replacement, and upgrade projects.

Smart-lock customers

Buy connected lock products where functionality and product design matter more than commodity pricing.

Strategy

The company is investing in self-designed automated product lines, new craftsmanship, and new product development to support its lockset franchise. It is also expanding into smart locks, which broadens the offering beyond traditional mechanical products and can improve relevance with modern security buyers. Certification and quality standards such as ISO9001 and ANSI grades are part of its positioning in professional hardware channels.

Develop smart-lock offeringsMedium term

Broadens the product mix and addresses demand for connected security products.

Improve manufacturing automationMedium term

Supports product consistency, throughput, and cost competitiveness in hardware manufacturing.

Maintain quality certificationsShort term

Helps sustain access to distribution channels that require recognized standards.

Geography

2025

Intelligent Living is headquartered in Hong Kong, which serves as its operating and administrative base. Its commercial focus is mainly the United States and Canada, making North America the core demand region for the business. That geographic mix ties the company to North American housing, renovation, and distribution trends, while production and sourcing remain connected to Asia-based operations.

United States78 %
Taiwan18 %
Canada4.5 %

Share of the revenue the company reports by geography.

Risks

The company is exposed to demand concentration in North America, so changes in construction, renovation, or channel inventory levels can affect orders. As a hardware manufacturer, it also faces product-quality, certification, and competitive pricing risks, especially in commodity-like mechanical locksets. Expansion into smart locks adds technology and execution risk, while cross-border operations can create supply-chain and logistics exposure.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Competitive pricing pressure1North American customer concentration2Product quality and certification risk3Smart-lock execution risk4
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Competitive pricing pressureImpact: HighLikelihood: High

    Locksets are often competitively bid or channel-priced, which can compress margins and reduce market share if products are not differentiated.

    Exposure: Mechanical locksets

  2. North American customer concentrationImpact: HighLikelihood: Medium

    The company says it sells mainly to customers in the United States and Canada, so regional demand weakness would quickly affect volumes.

    Exposure: United States and Canada

  3. Product quality and certification riskImpact: HighLikelihood: Medium

    The business relies on ANSI and ISO certifications, so defects or compliance issues could disrupt channel acceptance.

    Exposure: Lock hardware products

  4. Smart-lock execution riskImpact: MediumLikelihood: Medium

    New product development requires technology, design, and market adoption success in a more complex product category.

    Exposure: Smart locks

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Accounting

Judgemental items
Revenue recognition timing

Distributor and channel sales can depend on when control transfers, making cutoff important for period comparability.

Impact: Affects reported sales timing and quarterly comparability

Inventory valuation

Manufactured hardware requires valuation of raw materials, work in process, and finished goods.

Impact: Can affect gross profit and working capital

Warranty and returns provisions

Physical products may require accruals for defects, returns, or replacement costs.

Impact: Can change expense recognition and liabilities

Foreign currency translation

Hong Kong-based operations and North American sales create currency translation exposure.

Impact: Can affect reported assets, liabilities, and earnings

Publicly listed companies with a comparable business focus.

Last updated: 28/09/2026

Intelligent Living Application Group Inc. (ILAG) Revenue, Earnings & Financials 2025 – Clarifo