MAMO Massimo Group

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): January 16, 2025

 

MASSIMO GROUP

(Exact name of registrant as specified in its charter)

 

Nevada		001-41994		92-0790263
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

3101 W Miller Road Garland, TX		75041
(Address of principal executive offices)		(Zip Code)

 

Registrant’s telephone number, including area code: 866-403-5272

 

Not applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.001 per share		MAMO		The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

Item 7.01 Regulation FD Disclosure

 

On January 16, 2025, Massimo Group (the “Company”) issued a press release announcing that it had distributed to its stockholders a letter from David Shan, the Company’s Chief Executive Officer. A copy of the press release is attached hereto as Exhibit 99.1.

 

The information provided in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section. Such information shall not be deemed incorporated by reference into any filing of the Company under the Securities Act or the Exchange Act, whether made before or after the date hereof, regardless of any general incorporation language in such filing, except as otherwise expressly set forth by specific reference in such filing.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits.

 

The following exhibits are filed as part of this report:

 

Exhibit Number		Description
99.1		Press Release, dated January 16, 2025
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

 

Dated: January 16, 2025	MASSIMO GROUP
	By:	/s/ David Shan
	Name:	David Shan
	Title:	Chief Executive Officer

 

 

Exhibit 99.1

 

 

Massimo Motor CEO Reflects on Industry Challenges, Shares Exciting Opportunities Ahead in Letter to Shareholders

 

GARLAND, Texas, Jan. 16, 2025 – via IBN – Massimo Group (NASDAQ: MAMO) (“Massimo”), a manufacturer and distributor of powersports vehicles and pontoon boats, reviews highlights of the past year and shares upcoming priorities in a shareholder letter from CEO David Shan.

 

Dear Shareholders,

 

After the close of another remarkable year, I want to take this opportunity to reflect on our performance, the challenges we have faced, and the exciting opportunities that lie ahead.

 

Industry Landscape and Challenges

 

Massimo Group consists of two wholly-owned subsidiaries: Massimo Motor Sports and Massimo Marine. In recent years, both the powersports vehicle industry and the marine industry have faced significant headwinds. A combination of market downturns and the ongoing push toward electrification has created immense pressure for many companies in our sector. From 2023 to 2024, some peers reported profit margins as low as 2%-3%, with some even experiencing losses or scaling back production.

 

Despite these challenges, Massimo Group has shown resilience, innovation, and an unwavering commitment to excellence, standing out as an industry frontrunner.

 

Strong Performance Amidst Industry Challenges

 

I am proud to report that in 2023-2024, Massimo Motor Sports believe we have achieved strong year-over-year sales growth that will outpace the industry average. While many competitors struggled to maintain profitability, we expect that our focus on high-quality products, operational efficiency, and customer satisfaction has positioned us among the top-performing companies in the sector.

 

Highlights of our performance include:

 

	●	Strong sales compared to the previous year for Massimo Motor Sports.
	●	Industry competitive profitability for 2024, with margins expected to exceed industry average.
	●	Strategic initiatives that enhanced our market share and strengthened our brand reputation.

 

While others faced setbacks, we believe that our ability to adapt and innovate has solidified Massimo’s position as a trusted name in the powersports vehicle industry.

 

 

Building for the Future

 

Looking ahead, we believe that Massimo Group’s future is brighter than ever. Our commitment to innovation, customer-centric strategies, and sustainable growth will position us to navigate the evolving market landscape with confidence.

 

Our plans for the future include:

 

	●	Launching new market-driven products, including all-weather vehicles in 2025 that deliver both comfort and performance, while addressing the increasing demand for electrification and sustainability.
	●	Enhancing operational efficiency to maintain our competitive edge and ensure long-term profitability, particularly by expanding distribution centers to enable faster shipping and reduce transportation costs for our customers.
	●	Expanding into new markets by building on our strong foundation to reach a broader customer base, exploring innovative opportunities such as low-altitude flying vehicles and advanced smart mobility solutions.
	●	Actively pursuing industry consolidation and acquisition opportunities to expand our scale.
	●	Additionally, we plan to establish a dedicated R&D department to drive product innovation and promote technology-driven industrial development. We will focus on developing unmanned aerial vehicles and launching new product lines to diversify revenue streams. At the same time, we will optimize our organizational structure, attract top-tier technology talent, and explore growth opportunities in the North American, European, and Asian markets, including the establishment of new distribution networks.

 

We firmly believe these strategies will not only sustain our growth but also strengthen our position at the forefront of the industry.

 

Commitment to Shareholder Value

 

Delivering value to our shareholders remains the cornerstone of everything we do. Massimo Group has consistently demonstrated its ability to thrive in challenging conditions, and we are dedicated to creating sustainable, long-term value through transparency, innovation, and strategic growth.

 

As we embark on the next phase of our journey, I want to thank you for your continued trust, support, and belief in Massimo Group. Together, we will continue to break new ground and reach greater heights.

 

Sincerely,

 

David Shan

CEO

Massimo Group

 

About Massimo Group

 

Massimo Group (NASDAQ: MAMO) is a manufacturer and distributor of powersports vehicles and pontoon boats. Founded in 2009, Massimo Motor believes it offers some of the most value packed UTV’s, off-road, and on-road vehicles in the industry. The company’s product lines include a wide selection of farm and ranch tested utility UTVs, recreational ATVs, and Americana style minibikes. Founded in 2020, Massimo Marine manufactures and sells Pontoon and Tritoon boats with a dedication to innovative design, quality craftsmanship, and great customer service. Massimo Group is also developing electric versions of UTVs, golf carts and pontoon boats. The company’s 376,000-square-foot factory is in the heart of the Dallas / Fort Worth area of Texas in the city of Garland. For more information, visit massimomotor.com and massimomarine.com.

 

 

Forward-Looking Statements

 

This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and the use of proceeds thereof. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “predict,” “project,” “target,” “potential,” “seek,” “will,” “would,” “could,” “should,” “continue,” “contemplate,” “plan,” and other words and terms of similar meaning. These forward-looking statements include information concerning statements regarding future cash needs, future operations, market positions, business plans and future financial results; and any other statements that are not historical facts. Forward-looking statements may include, for example, statements about the Company’s ability to enhance its distribution network; reductions to fulfilment times; the future financial and operational performance of Massimo; competitive position; Massimo’s financial position, including estimated revenues, profitability, margins, losses and expenses; new products; operational efficiency; expansion into new markets; acquisitions; the establishment of an R&D department; and other plans and objectives of management. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of Massimo, including those set forth in the “Risk Factors” section of Massimo’s Annual Report on Form 10-K for the year ended December 31, 2023, as updated by Massimo’s subsequent filings, with the SEC. Copies are available on the SEC’s website, www.sec.gov. Massimo undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

 

Company

 

Dr. Yunhao Chen
Chief Financial Officer
Massimo Group
ir@massimomotor.com

 

Investor Relations

 

Chris Tyson
Executive Vice President
MZ North America
Direct: 949-491-8235
MAMO@mzgroup.us

 

Corporate Communications

 

IBN
Austin, Texas
www.InvestorBrandNetwork.com
512.354.7000 Office
Editor@InvestorBrandNetwork.com

 

 

v3.24.4

Cover	Jan. 16, 2025
Cover [Abstract]
Document Type	8-K
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Document Period End Date	Jan. 16, 2025
Entity File Number	001-41994
Entity Registrant Name	MASSIMO GROUP
Entity Central Index Key	0001952853
Entity Tax Identification Number	92-0790263
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	3101 W Miller Road
Entity Address, City or Town	Garland
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75041
City Area Code	866
Local Phone Number	403-5272
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	MAMO
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false

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