The information contained in this quarter report on Form 10-Q is intended to update the information contained in our Form S-1 Amendment No.3, dated April 30, 2020, for the period ended April 30, 2021 and presumes that readers have access to, and will have read, the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and other information contained in such Form S-1. The following discussion and analysis also should be read together with our consolidated financial statements and the notes to the consolidated financial statements included elsewhere in this Form 10-Q.

The following discussion contains certain statements that may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements appear in a number of places in this Report, including, without limitation, "Management's Discussion and Analysis of Financial Condition and Results of Operations." These statements are not guarantees of future performance and involve risks, uncertainties and requirements that are difficult to predict or are beyond our control. Forward-looking statements speak only as of the date of this quarterly report. You should not put undue reliance on any forward-looking statements. We strongly encourage investors to carefully read the factors described in our Form S-1 Amendment No.3, dated April 30, 2020, in the section entitled "Risk Factors" for a description of certain risks that could, among other things, cause actual results to differ from these forward-looking statements. We assume no responsibility to update the forward-looking statements contained in this transition report on Form 10-Q. The following should also be read in conjunction with the unaudited Condensed Consolidated Financial Statements and notes thereto that appear elsewhere in this report.





Company Overview

MU Global Holding Limited, the US Company, operates through its wholly owned subsidiary, MU Worldwide Group Limited, a Seychelles Company; which operates through its wholly owned subsidiary, MU Global Holding Limited, a Hong Kong Company; which operates through its wholly owned subsidiary, MU Global Health Management (Shanghai) Limited, a Shanghai Company. The US, Seychelles and Hong Kong Companies act solely for holding purposes whereas all current and future operations in China are planned to be carried out via MU Global Health Management (Shanghai) Limited, the Shanghai Company. The purpose of the Hong Kong Company is to function as the current regional hub of the Company.

At present, we have a physical office in Shanghai with an address of A310, No. 2633, Yan'an West Road, Changning District, Shanghai City, 200050 People Republic China, in which renovation has completed in October 2018 and the Company has commenced business operations from the office. In addition, we also have a physical outlet in Shanghai with address of 203, No. 193 Luo Jin Hui South Road, Minhang District, Shanghai City, 201103, People Republic China in which renovation completed in January 2019 and we have started to provide our services to customers in Shanghai. In the future, we do not have definitive plans for which markets intend to expand to, but we base our operations out of our Shanghai location, as we prepare for future unidentified expansion efforts.

All of the previous entities share the same exact business plan with the goal of developing and providing wellness and beauty services to our future clients. We aim to promote improved overall health and beauty in our clients through a holistic detoxification method. We will, at least initially, primarily focus our efforts on attracting customers in China. We have intentions, but no definitive plans or timelines, to expand to Singapore, Malaysia, Hong Kong, and Middle Eastern countries in the coming years, and subsequently we intend to make efforts to expand throughout Asia. We anticipate spending a substantial amount in marketing and advertising in the coming year.





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Results of Operation

For the nine months ended April 30, 2021 and 2020





Revenues

For the nine months ended April 30, 2021 and 2020, the Company has generated revenue of $46,576 and $94,527 respectively. The revenue represented income from wellness and beauty services provided to customers and sales of products via Shanghai outlets and sharing of revenue from leasable equipment with business alliance and franchisee.

Cost of Revenue and Gross Margin

For the nine months ended April 30, 2021 and 2020, cost incurred arise in providing wellness and beauty services is $9,607 and $12,342 respectively, and generate a Gross profits for the nine months ended April 30, 2021 and 2020 of $36,969 and $$82,185.

Selling and marketing expenses

For the nine months ended April 30, 2021 and 2020, we had no incurred marketing expenses on April 30, 2021 and incurred amount of $19,490 on April 30, 2020. These expenses comprised of advertisement expenses on Wechat, mobile apps and public research on the market, and travelling expenses.

General and administrative expenses

For the nine months ended April 30, 2021 and 2020, we had incurred general and administrative expenses in the amount of $373,153 and $563,425 respectively. These expenses are comprised of salary, allowance, professional fees, consultancy fee for IT and system management, office and outlet operation expenses and depreciation.





Other Income

The Company recorded an amount of $30,214 and $6,970 as other income for the nine months ended April 30, 2021 and 2020. This income is derived from gain on disposal, foreign exchange and interest income.





Net Loss

Our net loss for nine months ended April 30, 2021 and 2020 were $305,970 and $493,760. The net loss mainly derived from the general and administrative expenses incurred.





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Liquidity and Capital Resources

As of April 30, 2021 and 2020, we had cash and cash equivalents of $10,659 and $15,574 respectively. We expect increased levels of operations going forward will result in more significant cash flow and in turn working.

Cash Used In Operating Activities

For the nine months ended April 30, 2021, net cash used in operating activities was $129,280 as compared to net cash used in operating activities of $345,948 for the nine months ended April 30, 2020. The decrease in cash used in operating activities was mainly due to lower spend in general and administrative expenses.

Cash Provided In Financing Activities

For the nine months ended April 30, 2021 and 2020, net cash provided by financing activities was $111,059 and $178,694 respectively. The financing cash flow performance primarily reflects the provision of short-term loan by director and related party.

Cash Provided In Investing Activities

For the nine months ended April 30, 2021 and 2020, the net cash provided in investing activities was $20,565 and used in investing activities was $207,493. The investing cash flow performance primarily reflects the purchase of property, plant and equipment and trademark.





Credit Facilities

We do not have any credit facilities or other access to bank credit.

Off-balance Sheet Arrangements

We have no significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in our financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to our stockholders as of April 30, 2021.

Recent Accounting Pronouncements

The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.





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