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• Residential Development: The construction and sale of homes, condominiums, and apartment buildings for residential use.
• Commercial Development: The creation and leasing or sale of office spaces, retail centers, and industrial complexes.
• Land Development: The process of acquiring raw land, preparing it with infrastructure, and subdividing it for future construction projects.
• Property Management: Services for overseeing the daily operations, maintenance, and tenant relations of owned or managed real estate assets.

As an AI, I do not have real-time access to specific, up-to-the-minute financial data or detailed customer lists for every public company, especially if "Foxx Development (FOXX)" is a hypothetical entity created for this prompt. Public companies typically disclose major customers (if they account for a significant portion of revenue) in their annual reports (10-K filings) or investor presentations.

However, assuming Foxx Development (FOXX) is a real estate development company (a common interpretation of "Development" in a public company's name) and primarily sells its residential properties directly to individuals (B2C), its major customers would fall into the following categories:

Major Customer Categories for Foxx Development (FOXX)

1. First-time Homebuyers

   This category typically includes younger individuals or couples entering the housing market for the first time. They are often seeking entry-level homes, townhouses, or condominiums that are more affordable. Price sensitivity, down payment assistance, and favorable financing options are key considerations for these customers.

2. Move-up Buyers / Growing Families

   These customers are often existing homeowners looking to purchase a larger home, perhaps with more bedrooms, increased square footage, a bigger yard, or enhanced amenities to accommodate a growing family or increased income. They typically leverage equity from a previous home sale and are looking for upgrades in space, location, or features.

3. Empty Nesters / Active Adults

   This demographic consists of older individuals or couples whose children have grown and moved out. They often seek smaller, more manageable, and low-maintenance homes, sometimes in communities with specific age restrictions or lifestyle amenities (e.g., golf courses, clubhouses, proximity to healthcare). They may be downsizing or looking for a more convenient lifestyle in a new location.

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Greg Foley, Chief Executive Officer

Mr. Greg Foley has served as the Chief Executive Officer of Foxx Development Holdings Inc. since September 26, 2024, and also holds the position of Executive Vice President of Business Development. He brings over 25 years of experience in leading sales and marketing efforts to drive enterprise and channel growth in high-growth markets, including electronic devices, SaaS, IoT, 5G Fixed Wireless, AI, and cloud development. Prior to joining Foxx, Mr. Foley was the Director of Global Business Development, Partnerships, Strategies and Alliances at Inseego (Nasdaq: INSG). From 2018 to 2020, he was the Vice President of Sales and Product Development at NetComm Wireless. His earlier career includes executive roles at various telecommunication and technology companies such as SpareOne, HTC, Samsung, and Nokia.

Yi Hua, Chairwoman and Chief Financial Officer

Ms. "Joy" Yi Hua serves as the Chairwoman of the Board, Principal Accounting Officer, and Chief Financial Officer of Foxx Development Holdings Inc. She previously held the roles of Chief Executive Officer, Chief Financial Officer, and Chairwoman of Acri. Ms. Hua possesses over 18 years of experience in investment management, hedge funds, private equity, and real estate investment globally. Since March 2023, she has been the CEO of Bit Bay Technology Corporation, a U.S. data center investment and management company. Additionally, she has served as the Managing Director of Serene View Capital LLC, an investment management and consulting firm, since June 2016. In June 2018, Ms. Hua founded Cohere Education LLC, an online education startup, and previously co-founded and served as Chief Operating Officer for MeshImpact LLC, a consulting firm.

Haitao Cui, Executive Vice President and Director

Mr. Haitao Cui serves as the Executive Vice President and a member of the board of directors of Foxx Development Holdings Inc. He previously served as the Chief Executive Officer of Foxx from August 2018 to April 2024. Mr. Cui has over 10 years of executive and managerial experience in directing, managing, and overseeing key corporate relations and regional sales development for consumer electronic products.

James Liao, Chief Technology Officer

Mr. James Liao serves as the Chief Technology Officer of Foxx Development Holdings Inc.

Edmund R. Miller, Independent Director

Mr. Edmund R. Miller serves as an independent director for Foxx Development Holdings Inc. He has extensive experience in private equity investment and fundraising, particularly within the Telecommunication, Media, & Technology (TMT) sector. Mr. Miller is a Senior Managing Director of Pan American Finance, LLC, an investment advisory firm, a position he has held since 2012. He was previously co-manager of the largest Caribbean Basin and Latin American coverage team for Goldman Sachs. His career also includes managing a high yield fund and a hedge fund, and he was a founder who led the initial investment round in Answerthink (now The Hackett Group, NASDAQ: HCKT), an information technology consulting company. Furthermore, Mr. Miller was a co-founder of Interprise Technology Partners, a $110 million technology venture fund.

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Foxx Development (symbol: FOXX) operates primarily in the United States, focusing on electronic products and integrated Internet-of-Things (IoT) solutions. The addressable markets for their main products and services in the U.S. are as follows:

• Smartphones: The U.S. smartphone market was valued at approximately USD 62.82 billion in 2023, with projections to grow to around USD 75.73 billion by 2032. Another estimate indicates the market was valued at USD 64.31 billion in 2024 and is expected to reach USD 75.77 billion by 2035.
• Tablets: In the U.S., the tablet market size was approximately USD 11.7 billion in 2024, with forecasts suggesting a rise to USD 16.0 billion by 2033. Other reports indicate a market size of USD 12.86 billion in 2023, projected to exceed USD 15.26 billion by 2033.
• Wearables: The U.S. wearable technology market was valued at USD 19.92 billion in 2023 and is anticipated to reach USD 23.07 billion by 2024. This market is projected to grow to USD 47.51 billion by 2030. Separately, the U.S. smart wearables market (non-medical) was estimated at US$ 22.17 billion in 2024 and is projected to reach US$ 132.22 billion by 2034.
• Internet of Things (IoT) Solutions: The U.S. IoT Solutions & Services market was valued at a substantial USD 104.0 billion in 2024. Other estimates for the broader U.S. Internet of Things (IoT) market indicate a size of USD 413.22 billion in 2024, growing to USD 609.2 billion by the end of 2032.
• Water Leak Detectors: The U.S. water leak detector market for systems, which represents a significant share of the North American market, was estimated at USD 500 million in 2024, with projections to reach USD 1 billion by 2034. The U.S. water leak detection and repair services market was estimated at USD 347.4 million in 2022 and is expected to grow to USD 519.0 million by 2030.

Expected Drivers of Future Revenue Growth for Foxx Development (FOXX)

Over the next 2-3 years, Foxx Development (FOXX) is expected to drive revenue growth through several key initiatives:

1. Expansion and Growth in Internet-of-Things (IoT) Solutions: Foxx Development is actively developing and distributing an innovative suite of IoT solutions. The company has recently demonstrated this focus through a partnership with APEC Water Systems to launch an advanced smart water leak detector. This strategic expansion into the IoT market is anticipated to be a significant revenue driver.
2. Continued Growth of Core Consumer Electronics Products: The company's established portfolio of mobile phones, tablets, and wearables, particularly mobile phones, has been a primary contributor to recent substantial revenue increases. Foxx Development's ongoing presence and sales in these product categories are expected to sustain and grow future revenue.
3. Entry and Expansion into the Private-Label Mobile Virtual Network Operator (MVNO) Market: Foxx Development is strategically expanding into the private-label mobile virtual network operator markets. This move represents an opportunity to tap into new recurring revenue streams and broaden its service offerings.
4. Strategic Partnerships to Enhance Product Ecosystem and Services: Foxx Development is focused on forging enduring alliances with global mobile network operators, distributors, and suppliers. An example of this is the partnership with FreeCast to expand entertainment offerings on Foxx smartphones and tablets, which can increase the value proposition of their devices and drive sales.

Share Issuance

• Foxx Development Holdings Inc. became a public company on September 27, 2024, through a business combination with Acri Capital Acquisition Corporation, which involved the issuance of common stock and warrants.
• A prospectus highlights the potential issuance of up to 12,145,917 shares of common stock upon the exercise of warrants, with an exercise price of $11.50 per share.
• In November 2025, Foxx Development Holdings Inc. registered securities under its 2024 Equity Incentive Plan, enabling equity awards for employees and service providers.

Inbound Investments

• On September 26, 2024, Foxx Development Holdings Inc. completed a business combination with Acri Capital Acquisition Corporation, leading to its listing on Nasdaq.
• The company also secured financing through convertible promissory notes to support working capital and transaction expenses.

Capital Expenditures

• Research and development expenses for Foxx Development Holdings Inc. significantly increased to $2.221 million for the fiscal year ended June 30, 2025, compared to $0.091 million in 2024, reflecting substantial investment in technology and talent.
• The company is focused on the development and distribution of end-to-end communication terminals and Internet-of-Things (IoT) solutions.
• Foxx Development Holdings Inc. expanded its product offerings to include wearable electronics and smart home solutions, and launched a second generation of its IoT cloud platform.