UGREEN ECONOMIC

Target: UGREEN / Shenzhen Ugreen Technology Co., Ltd. Research cut-off: 23 October 2026 Scope: Commercial, financial, ownership and supply-chain relationships with Israel and the occupied Palestinian territory.

Supply Chain & Sourcing Relationships

Direct supplier relationships

UGREEN identifies charging products, office accessories, audio-visual products and smart storage as its principal product categories; its corporate description identifies an outsourced finished-product procurement model supplemented by independent production capabilities. The April 2026 company snapshot does not identify Israeli agricultural suppliers or disclose an Israel-specific component procurement relationship.¹

Israeli distribution - K Group

On 5 January 2022, Israeli technology publication Biti reported that K Group would distribute UGREEN products in Israel, including consumer electronics, computer accessories, charging equipment, audio products and docking stations.²

The same report identified K Group as an authorised supplier to Israel’s Ministry of Defence and described its wider business as supplying customers that include defence industries. It did not identify a Ministry of Defence contract for UGREEN-branded products.²

The report specifically identified the HiTune X5 wireless earphones and a ten-in-one docking station among the UGREEN products entering Israeli distribution.²

The contractual status of K Group’s UGREEN distribution arrangement after the January 2022 announcement is not independently established by the reviewed reporting.²

Israeli importer - AM Magen Investments Ltd.

As accessed in October 2026, the UGREEN Israeli storefront identifies AM Magen Investments Ltd. (איי אמ מגן השקעות בע״מ) as the business associated with its operations, gives an address at 41 Ben Gurion Road, Bat Yam, and describes the operator as an exclusive importer in Israel.³

The same website advertises UGREEN charging equipment, USB cables, audio accessories, mobile-device mounts and computer hubs in Israeli shekels.⁴

Moft Israel also carries UGREEN listings and identifies AM Magen Investments Ltd. in its site information, corroborating the company’s presence in local consumer-electronics retail activity.⁵

No manufacturer-issued agreement establishing whether AM Magen’s exclusive-importer description supersedes or overlaps with K Group’s previously reported distribution arrangement was identified in the reviewed sources.^{2, 3}

Third-party distribution and retail

Israeli electronics retailer BUG maintains a dedicated UGREEN brand catalogue advertising chargers, cables, docking stations and other electronic accessories.⁶

Game Storm independently lists UGREEN electronics, including Nexode chargers, hubs, cables, audio products and accessories, for sale in Israel.⁷

Green Mobile maintains a UGREEN brand catalogue and publishes Israeli retail and collection locations.⁸

Israeli electronics retailer Ivory maintains a dedicated UGREEN brand catalogue advertising USB-C cables, charging cables and mobile-device accessories at prices denominated in Israeli shekels.⁹

UGREEN’s own wholesale programme permits distribution through third-party websites and physical retail outlets, while distinguishing those channels from its official Amazon storefront operations.¹⁰

These records establish consumer-market distribution through identifiable Israeli intermediaries; individual retailers’ inventory sources, contracts and ultimate customers are not specified in the cited catalogues.^{6, 7, 8, 9}

Importer-of-record structure

The Israeli storefront’s identification of AM Magen Investments Ltd. establishes a named local importer claim, while UGREEN’s published global corporate contacts identify foreign offices and group entities without specifying an Israeli company-operated import subsidiary.^{3, 11}

No public evidence identified establishing that UGREEN owns AM Magen Investments Ltd., K Group or a dedicated Israeli importer-of-record entity.^{3, 11}

Agricultural suppliers and seasonal sourcing

No public evidence identified of UGREEN procurement from Mehadrin, Hadiklaim, Galilee Export, Agrexco successors or other named Israeli agricultural exporters in the reviewed company and product disclosures.^{1, 12}

No public evidence identified of recurring December–April procurement of Israeli agricultural products.¹²

Israeli-origin components and indirect sourcing

UGREEN describes its research, design, manufacturing and sourcing activities through a worldwide consumer-electronics supply chain; the reviewed corporate descriptions do not specify Israeli component suppliers or Israeli-origin finished goods.^{1, 13}

No public evidence identified of Israeli-origin inputs entering UGREEN products through independently verified white-label or third-party manufacturing arrangements.^{1, 13}

On 31 July 2024, Israeli technology publication The Verifier reported that Bconnect Technologies (ביקונקט) had announced the Israeli launch of UGREEN’s Nexode Pro charging range. The announcement covered four GaN chargers: X755 (65W), X757 (100W), X763 (160W) and X753 (65W portable). The products were offered through Bconnect’s website, authorised resellers, KSP and Kravitz, with advertised prices ranging from NIS 249 to NIS 499. Girafa independently reported the launch on 4 August 2024. These contemporary reports establish Bconnect as an additional named Israeli commercial distribution intermediary alongside the previously documented K Group and AM Magen Investments Ltd.^{14, 15}

On 5 February 2026, Israeli technology publication Girafa explicitly identified Bconnect as the company importing and distributing UGREEN products in Israel, naming KSP among its authorised retail partners. The article reviewed UGREEN’s CM769 streaming microphone and LP680 tripod and linked directly to corresponding products sold through Bconnect. This establishes evidence of Bconnect’s distribution activity extending beyond the July 2024 charging-product launch into February 2026. Bconnect’s documented role overlaps with AM Magen Investments Ltd.’s separately published exclusive-importer claim. The reviewed sources do not establish whether the companies operate under separate product-category agreements, successive appointments or competing distribution arrangements; neither the scope nor contractual precedence of the claimed exclusivity is independently resolved.^{16, 15}

An additional Israeli marketplace listing on Zap identifies Bconnect as both importer and warranty provider for the UGREEN Uno 10,000mAh 30W power bank, specifying a 12-month official-importer warranty. The listing identifies Bconect+ as the seller. This independently corroborates Bconnect’s participation in Israeli UGREEN product distribution and after-sales services beyond the historical Nexode Pro launch.¹⁷

Bconnect - independent distributor-status evidence. A publicly accessible digital business card for Oleg Naumov, identified as Bconnect Technologies Ltd.’s B2C Sales Manager, describes Bconnect as an official distributor in Israel for several international brands, explicitly including UGREEN. This provides an additional company-associated declaration of distributor status beyond the previously documented product launches and importer warranties. However, the declaration does not identify the contracting manufacturer or group subsidiary, provide an appointment date, specify the contractual tier, or establish whether Bconnect purchases directly from Shenzhen Ugreen Technology, Hong Kong Ugreen Limited, another group entity, a master distributor, or an independent intermediary. It therefore supports claimed official distributor status without independently establishing manufacturer-side contractual privity or the immediate overseas supplier.^{18, 10}

Bconnect - retailer-level corroboration and product boundaries. Independent Israeli retailer Walla Shops identifies Bconnect Technologies Ltd. as the supplier of the UGREEN LP451 laptop stand (model 40289), describes the company as engaged in importing, marketing and distributing technology accessories, and attributes the product’s one-year warranty to Bconnect as official importer. BUG separately identifies Bconnect Technologies Ltd. as the warranty provider for UGREEN’s Card Reader Docking Station and USB-C-to-HDMI adapter. These disclosures provide product-specific corroboration of Bconnect’s downstream supply and warranty role across laptop accessories, docking equipment and connectivity products. The retailers’ references to official-importer status do not independently establish the existence, duration or territorial scope of a manufacturer-issued appointment. Nor do they identify Bconnect’s immediate upstream supplier or demonstrate that the retailers themselves hold manufacturer appointments.^{19, 20, 21}

Bconnect - unresolved upstream supplier and contractual tier. July 2024–October 2026 - no public evidence identified establishing Bconnect’s immediate overseas supplier, direct purchasing relationship with UGREEN or an integrated group entity, identifiable upstream master distributor, or contractual tier. The additional review examined UGREEN’s published wholesale arrangements, Bconnect’s company-associated distributor declaration, and independent retailer disclosures. UGREEN’s wholesale programme describes distribution channels but does not identify Bconnect or an Israeli master distributor. The documented result is an identifiable Israeli importing and distribution business whose precise upstream sourcing route remains unestablished; neither direct manufacturer supply nor intermediary sourcing can be confirmed or excluded.^{18, 10, 19, 10}

AM Magen - additional operator and address evidence. AM Magen Investments Ltd.’s UGREEN Israel contact page identifies the company at 13 Sderot HaReches, Modi’in, while the same page’s footer identifies 41 Ben Gurion Road, Bat Yam. Both locations appear alongside the company’s exclusive-importer declaration. The differing addresses establish an internal inconsistency in the operator’s published contact information; neither address independently establishes a manufacturer appointment, a customs importer-of-record registration, a warehouse, or a shipment origin. The page does not explain whether the addresses represent successive business locations, separate operating facilities or outdated website information.²²

AM Magen - cross-storefront commercial activity and product limits. AM Magen’s Moft Israel website provides additional evidence of commercial activity involving UGREEN-branded products outside its dedicated UGREEN storefront. The Moft homepage advertises a UGREEN 14-inch laptop bag as a discounted promotional item, while its associated catalogue lists UGREEN USB-C-to-Lightning cables and screen protectors. The website again identifies AM Magen Investments Ltd. in its footer. These independently accessible product and promotional disclosures establish the operator’s continuing public marketing of selected UGREEN-branded accessories. They do not establish recurring international import transactions, shipment dates, purchase quantities, direct purchases from the manufacturer, or the contractual scope of any claimed UGREEN exclusivity. The documented product coverage is limited to the listed accessories and does not establish rights covering UGREEN’s entire product portfolio.^{23, 24}

AM Magen - manufacturer appointment and recurring-import evidence. January 2021–October 2026 - no public evidence identified establishing a UGREEN-issued appointment letter, signed distribution agreement, manufacturer confirmation of AM Magen’s exclusivity, successive import declarations, shipment-level records, identifiable overseas supplier, or renewal confirming current contractual status. Searches for AM Magen Investments Ltd., its Hebrew corporate name, AMGROUP and UGREEN were assessed against its directly accessible contact page, the associated Moft storefront and UGREEN’s wholesale programme. These sources confirm the continuing publication of AM Magen’s own importer claim and selected commercial listings, but do not establish whether the company contracts directly with UGREEN, purchases through an intermediary, or currently holds manufacturer-granted exclusive rights. No public evidence was identified resolving those alternatives or establishing UGREEN ownership of AM Magen.^{10, 22, 23, 24}

Product Origin, Labeling & Regulatory Compliance

Products marketed in Israel

The dedicated Israeli storefront advertises UGREEN cables, chargers, adapters, hubs and audio accessories; these are consumer-electronics products rather than agricultural goods requiring fresh-produce origin identification.⁴

BUG and Ivory separately advertise UGREEN-branded electronic equipment and accessories to Israeli consumers.^{6, 9}

Settlement-origin products

No public evidence identified establishing that any reviewed UGREEN product was manufactured in an Israeli settlement or sourced from a facility in the occupied West Bank, including East Jerusalem, or the occupied Golan Heights.^{1, 12}

No public evidence identified of UGREEN goods marketed as Israeli agricultural produce or as settlement-origin food products.^{4, 6}

Labelling compliance

UGREEN’s international descriptions identify its Chinese corporate headquarters and global electronics business, while its Israeli consumer storefront identifies products by brand, function and retail price.^{12, 4}

No public evidence identified of a DEFRA, customs or other regulatory enforcement finding against UGREEN concerning mislabelling of settlement-produced goods.^{12, 4}

Corporate policy

The reviewed corporate about pages describe product quality, innovation, manufacturing, corporate culture and sustainability, without identifying a specific policy governing products sourced from Israeli settlements.^{12, 13}

No public evidence identified of a publicly stated UGREEN policy specifically addressing the sourcing or territorial labelling of goods from the occupied Palestinian territory.^{12, 13}

Investment, Capital & Financial Exposure

Corporate investment and operating model

The April 2026 company snapshot identifies UGREEN as a Chinese-listed consumer-electronics company operating through product development, manufacturing, procurement and international distribution activities.¹

UGREEN’s corporate history records its Shenzhen founding in 2012, subsequent global expansion and July 2024 public listing.¹²

No public evidence identified of a UGREEN-owned factory, logistics hub, data centre, research campus or real-estate investment in Israel or the occupied Palestinian territory in the reviewed disclosures.^{1, 11, 12}

Research and development

UGREEN states that its own research and development, product design and technical innovation support its product portfolio.¹³

The company’s July 2026 corporate update identifies product innovation, technical research and global commercial expansion as significant operating activities.²⁵

No public evidence identified of a UGREEN-operated Israeli R&D centre, Israeli innovation laboratory, accelerator programme or named Israeli research partner in the reviewed corporate disclosures.^{13, 25}

Shareholders and beneficial ownership

UGREEN’s April 2026 company snapshot identifies the following five largest shareholders as of 31 March 2026.¹

These five disclosed holdings total 82.52%, although the snapshot does not establish the ultimate beneficial ownership of the named partnerships or whether their beneficial interests overlap with the individual shareholders.¹

UGREEN’s company snapshot identifies Zhang Qingsen as chairman, He Mengxin as general manager and Wang Lizhen as chief financial officer and board secretary.¹

The same disclosure identifies Chen Junling, Tang Jian, Chen Yan, Nie Xingxing, Lai Xiaofan, Wen Guang and Liang Weifeng among the board members.¹

The April 2026 company snapshot identifies He Mengxin as general manager and records UGREEN’s registered domicile in Shenzhen, China. No public evidence identified in that disclosure establishing He Mengxin’s separate status as an authorised representative.²⁶

Controlling-principal investment exposure

No public evidence identified of a material personal or family-office investment in an Israeli operating company by Zhang Qingsen, Chen Junling, He Mengxin or another named controlling principal in the reviewed corporate ownership materials.^{1, 26}

No public evidence identified of a separate Israeli company controlled through the three named Chinese investment or management partnerships.¹

Israeli acquired subsidiaries - acquired-identity investigation

No public evidence identified of an Israeli operating company acquired or controlled by UGREEN in the reviewed corporate disclosures.^{1, 11, 25}

Consequently, no acquisition date, transaction price, controlling ownership percentage, Israeli manufacturing facility, subsidiary workforce, Israeli subsidiary revenue or acquired-subsidiary defence relationship could be established.^{1, 25}

Foreign subsidiaries and group attribution

UGREEN’s published international contact information identifies Ugreen Group GmbH in Germany and Hong Kong Ugreen Limited in Hong Kong.¹¹

UGREEN’s global contacts additionally publish office locations in China, the United States, Germany, Japan and the United Arab Emirates.²⁷

No public evidence identified in those corporate directories of an Israeli-incorporated group subsidiary or Israeli controlling holding company.^{11, 27}

Portfolio holdings and sovereign financing

No public evidence identified of UGREEN or its disclosed parent group holding Israeli sovereign bonds, Israel Bonds, Israeli-focused investment funds or publicly disclosed material shareholdings in Israeli defence or settlement-related companies.^{1, 25}

No public evidence identified of UGREEN acting as an underwriter, lead arranger, asset manager or insurer for Israeli sovereign or military financing.^{1, 25}

Defence-sector commercial intermediary

The January 2022 K Group report identifies a distributor that was also described as an authorised Israeli Ministry of Defence supplier; the article does not identify a UGREEN-specific defence procurement contract, transaction value or military delivery.²

Operational Presence & Market Activity

Israeli retail market

The October 2026 review identified a UGREEN-branded Israeli consumer storefront, an Israeli importer claim and independent UGREEN retail catalogues.^{3, 6, 7}

The dedicated storefront displays prices in Israeli shekels and publishes local customer-service and delivery information.³

BUG maintains a dedicated UGREEN brand page for the Israeli consumer market.⁶

Game Storm advertises UGREEN-branded charging, audio and computer-accessory products through its Israeli catalogue.⁷

Ivory’s UGREEN brand catalogue advertises USB-C cables, charging accessories and a vehicle phone mount, with prices displayed in Israeli shekels.⁹

These pages provide evidence of Israeli commercial availability after 19 July 2024 and after November 2024.^{3, 6, 9}

Physical footprint

The Israeli importer storefront publishes a business address at 41 Ben Gurion Road, Bat Yam, under AM Magen Investments Ltd.³

UGREEN’s own global office directory identifies locations in Shenzhen, Bellevue, Düsseldorf, Tokyo and Dubai, without listing an Israeli corporate office.²⁷

No public evidence identified establishing that UGREEN directly owns or leases the Bat Yam location, operates an Israeli warehouse or maintains a wholly-owned Israeli sales office.^{3, 27}

Employment and taxation

UGREEN’s July 2026 corporate report states that the group had 5,097 employees at the end of 2025, comprising 2,446 employees at the Shenzhen parent and 2,651 employees at major subsidiaries.²⁵

No Israel-specific employee count, Israeli corporate-tax registration, Israeli payroll figure or preferred-technology-enterprise designation was identified in the reviewed corporate disclosures.^{1, 25}

Market characterisation

UGREEN’s corporate website states that its products reach more than 180 countries and regions, while its historical company material describes expansion through international online and offline channels.^{12, 28}

The reviewed corporate materials do not separately identify Israel as a major market, strategic regional headquarters or disclosed geographic reporting segment.^{12, 25}

Settlement-specific operations

Green Mobile’s UGREEN catalogue includes store and collection-location information for Israeli cities, but the reviewed material does not establish that UGREEN has an operating location or authorised distributor branch inside a settlement.⁸

No public evidence identified of a UGREEN-owned outlet, warehouse, employee location, named institutional customer or independently verified shipment specifically situated in an Israeli settlement in the occupied West Bank, East Jerusalem or occupied Golan Heights.^{3, 8, 27}

Military employment and charitable programmes

UGREEN’s international corporate materials discuss global users, products, company culture and corporate responsibility, without specifying an Israeli reservist salary programme or Israel-specific military donation matching.^{13, 29}

No public evidence identified of UGREEN funding the Friends of the IDF, Israeli settlement organisations or a named Israeli military-support charity through its disclosed corporate programmes.^{13, 29}

Israeli telecommunications retailer Bezeq Store’s UGREEN 10,000mAh 30W power-bank listing was indexed with a promotional offer expiring on 10 October 2026 and an official-importer warranty attributed to Bconnect. However, direct retrieval of the product URL redirected to Bezeq Store’s homepage on 23 October 2026, preventing independent verification of those product-specific details from the live page. The indexed evidence therefore suggests an additional Israeli telecommunications-retail channel, but the precise offer and warranty terms remain unverified under the direct-page evidence standard. Separately, Zap’s directly accessible listing confirms Bconnect’s importer and warranty-provider role for a UGREEN 10,000mAh 30W product.^{17, 30}

Corporate Structure & Foundational Ties

Founding history

UGREEN identifies Shenzhen, China, as its founding location and states that the business was established in 2012.¹²

Its Chinese corporate website identifies the legal enterprise as 深圳市绿联科技股份有限公司 and confirms that it listed on the Shenzhen Stock Exchange’s ChiNext market on 26 July 2024 under stock code 301606.²⁸

Legal domicile and headquarters

The April 2026 company snapshot identifies the company’s domicile and principal office in Longhua District, Shenzhen, Guangdong, China.¹

The April 2026 company snapshot separately gives a Shenzhen registered domicile and principal office address.²⁶

No public evidence identified of an Israeli founding domicile, legacy Israeli headquarters or Israeli principal place of management in these corporate records.^{1, 26}

Israeli-nexus factors

Founded in Israel: The company’s stated founding location is Shenzhen, China, in 2012.¹²

Headquarters or principal management in Israel: The reviewed corporate records locate the registered office and company headquarters in Shenzhen.^{1, 26}

Israeli tax residency or preferred-technology-enterprise status: no public evidence identified in the reviewed company disclosures.^{1, 25}

Israeli beneficial ownership or control: The disclosed principal shareholders are Zhang Qingsen, Chen Junling and the named Chinese management and investment partnerships; the reviewed snapshot does not identify an Israeli controlling shareholder.¹

Acquired Israeli corporate identity: no public evidence identified of a controlling acquisition of an Israeli operating business.^{1, 25}

State and institutional linkages

The 5 January 2022 Israeli distribution report describes K Group, a distributor of UGREEN products, as an authorised Ministry of Defence supplier; it does not establish that UGREEN itself held Israeli Ministry of Defence supplier status.²

UGREEN’s corporate materials identify its operations as a consumer-electronics business incorporated and headquartered in China.^{26, 28}

No public evidence identified of Israeli state ownership, an Israeli government-appointed UGREEN director or designation of UGREEN as Israeli critical national infrastructure.^{1, 26}

Structural governance

The April 2026 shareholder disclosure identifies concentrated shareholdings among Zhang Qingsen, Chen Junling and three Chinese partnerships.¹

No public evidence identified of an Israeli state golden share, Israeli government veto power or an Israeli-state-linked charter provision affecting UGREEN’s corporate governance.^{1, 26}

Profit Repatriation & Economic Contribution

Group revenue

The April 2026 company snapshot reports operating revenue of approximately RMB 9.491 billion for 2025 and RMB 6.170 billion for 2024.¹

UGREEN’s July 2026 company update independently reports annual turnover of approximately RMB 9.491 billion for the 2025 reporting period.²⁵

These figures concern worldwide group operations and do not identify Israeli-market revenue.^{1, 25}

Israeli revenue attribution

UGREEN products are marketed through the named Israeli storefront and independent Israeli retailers, but the reviewed catalogues do not disclose manufacturer receipts, import volumes, gross sales or royalties attributable to Israel.^{3, 6, 9}

No public evidence identified of a separately reported Israel revenue figure or geographic profit segment in the reviewed company materials.^{1, 25}

Profit repatriation

UGREEN’s corporate disclosures establish a Chinese parent and international commercial operations, while its Israeli storefront identifies a separate local importer claim.^{1, 3}

No public evidence identified establishing the amounts, contractual form or direction of profits remitted between UGREEN and the named Israeli distributors.^{1, 3}

No public evidence identified of Israeli-origin ownership causing UGREEN’s worldwide profits to be repatriated to an Israeli parent company.^{1, 26}

Local economic contribution

The Israeli retail listings establish consumer-electronics commercial activity involving UGREEN-branded products in the Israeli market.^{3, 6, 7, 9}

The 2022 K Group announcement provides historical evidence of organised Israeli distribution, while the October 2026 storefronts establish later commercial availability.^{2, 3, 9}

The amount of local importer margin, sales taxation, customs payments, employment expenditure and downstream retail profit attributable to UGREEN products cannot be quantified from the reviewed materials.^{2, 3, 9}

Israeli economic ecosystem role

UGREEN products are distributed across several Israeli consumer-electronics outlets, including BUG, Game Storm, Green Mobile and Ivory.^{6, 7, 8, 9}

No public evidence identified of a government designation or independently quantified assessment identifying UGREEN as an essential Israeli infrastructure provider, major Israeli employer or dominant supplier within a particular Israeli industrial sector.^{1, 25}

Settlement-specific financial flows

No public evidence identified quantifying UGREEN-derived revenue, royalties, taxes, investment income or property income specifically attributable to Israeli settlements in the occupied Palestinian territory.^{1, 3, 25}