The information contained in this Form 10-Q is intended to update the information contained in our Quarter Report on Form 10-Q for the period ended October 31, 2021 filed with the Securities and Exchange Commission on December 14, 2021 (the "Form 10-Q") 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 10-Q. The following discussion and analysis also should be read together with our financial statements and the notes to the financial statements included elsewhere in this Form 10-Q.

Certain statements in this Report constitute forward-looking statements. These forward-looking statements include statements, which involve risks and uncertainties, regarding, among other things, (a) our projected sales, profitability, and cash flows, (b) our growth strategy, (c) anticipated trends in our industry, (d) our future financing plans, and (e) our anticipated needs for, and use of, working capital. They are generally identifiable by use of the words "may," "will," "should," "anticipate," "estimate," "plan," "potential," "project," "continuing," "ongoing," "expects," "management believes," "we believe," "we intend," or the negative of these words or other variations on these words or comparable terminology. In light of these risks and uncertainties, there can be no assurance that the forward-looking statements contained in this filing will in fact occur. You should not place undue reliance on these forward-looking statements.

The forward-looking statements speak only as of the date on which they are made, and, except to the extent required by federal securities laws, we undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date on which the statements are made or to reflect the occurrence of unanticipated events.

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 address of Room 1510, Building 5, Ark Times Square, No. 3148, Chengliu-Chong Road, Jiading District, Shanghai, People Republic of China. In the future, we do not have definitive plans for which markets intend to expand to, but we base our operations in Shanghai, 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 Six months ended January 31, 2022 and 2021

Revenues

For the six months ended January 31, 2022 and 2021, the Company has generated revenue of $38,787 and $41,076 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 six months ended January 31, 2022 and 2021, cost incurred arise in providing wellness and beauty services is $17,396 and $9,556 respectively, and generate a Gross profit the for the six months ended January 31, 2022 and 2021 of $21,391 and $31,520.

Selling and marketing expenses

For the six months ended January 31, 2022 and 2021, we had incurred $579 marketing expenses on January 31, 2022 and we had incurred no marketing expenses on January 31, 2021. These expenses comprised travelling expenses.

General and administrative expenses

For the six months ended January 31, 2022 and 2021, we had incurred general and administrative expenses in the amount of $168,560 on January 31, 2022 and $294,274 on January 31, 2021. 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 $26,933 and $24,987 as other income for the six months ended January 31, 2022 and 2021. This income is derived from the interest income, foreign exchange gain and gain on disposal.

Net Loss

Our net loss for six months ended January 31, 2022 and 2021 were $120,815 and $237,767. The net loss mainly derived from the general and administrative expenses incurred.



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Liquidity and Capital Resources

As of January 31, 2022 and 2021, we had cash and cash equivalents of $28,398 and $43,603 respectively. We expect increased levels of operations going forward will result in more significant cash flow and in turn working.

We depend substantially on investing activities to provide us with the liquidity and capital resources we need to meet our working capital requirements and to make capital investments in connection with ongoing operations. During the six months ended January 31, 2022, the Company had met these requirements primarily from the financial support from director and cash flow generated from disposal of assets.

Cash Used In Operating Activities

For the six months ended January 31, 2022 and 2021, net cash used in operating activities was $7,768 and $85,511 respectively. The cash used in operating activities was mainly for the payment of general and administrative expenses.

Cash Provided By Investing Activities

For the six months ended January 31, 2022 and 2021, net cash from investing activities was $29,659 and $12,110 respectively. The investing cash flow performance primarily reflects the cash generated from disposal of assets.

Cash Used In Financing Activities

For the six months ended January 31, 2022, net cash used in financing activities was $13,510 as compared to net cash provided by financing activities of $109,517 for the six months ended January 31, 2021. The net cash used in financing activities primarily reflects loans repayment to the related party. The net cash provided by in financing activities primarily reflects the provision of long-term loan by director and related party.

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 January 31, 2022.

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.

For the three months ended January 31, 2022 and 2021

Revenues

For the three months ended January 31, 2022 and 2021, the Company has generated revenue of $38,194 and $19,381 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.



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Cost of Revenue and Gross Margin

For the three months ended January 31, 2022 and 2021, cost incurred arise in providing wellness and beauty services is $17,209 and $7,845 respectively, and generate a Gross profit the for the three months ended January 31, 2022 and 2021 of $20,985 and $11,536.

Selling and marketing expenses

For the three months ended January 31, 2022 and 2021, we had incurred $435 marketing expenses on January 31, 2022 and we had incurred no marketing expenses on January 31, 2021. These expenses comprised travelling expenses.

General and administrative expenses

For the three months ended January 31, 2022 and 2021, we had incurred general and administrative expenses in the amount of $97,462 on January 31, 2022 and $173,023 on January 31, 2021. 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 $5,387 and $20,321 as other income for the three months ended January 31, 2022 and 2021. This income is derived from the interest income, foreign exchange gain and gain on disposal.

Net Loss

Our net loss for three months ended January 31, 2022 and 2021 were $71,525 and $141,166. The net loss mainly derived from the general and administrative expenses incurred.

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 January 31, 2022.

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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