Sourcing Guide Contents
Industrial Clusters: Where to Source Candle Wholesale Supplier
SourcifyChina Sourcing Intelligence Report: Candle Wholesale Supplier Landscape in China (2026 Projection)
Prepared for: Global Procurement Managers | Date: January 15, 2026
Report Code: SC-CND-2026-001
Executive Summary
China remains the dominant global source for wholesale candles (paraffin, soy, gel, scented), accounting for ~65% of international trade volume. While cost advantages persist, 2026 sourcing requires strategic regional selection balancing price, quality consistency, compliance, and sustainability. Key shifts include:
– Rising Pressure: Stricter EU REACH/CA Prop 65 compliance, volatile wax prices (+12% YoY), and labor costs (+8% YoY in coastal hubs).
– Strategic Imperative: Cluster specialization now outweighs pure cost arbitrage. Procurement must prioritize total landed cost and supply chain resilience.
– Top Recommendation: Diversify across Guangdong (volume/core) and Zhejiang (premium/innovation) clusters, with Fujian as a contingency for eco-friendly lines.
Key Industrial Clusters for Candle Manufacturing in China
China’s candle production is concentrated in 3 coastal provinces, leveraging port access, mature supply chains, and export-focused infrastructure. Critical hubs include:
| Province | Core City(s) | Specialization | Market Share (2026 Est.) | Key Advantages | Key Limitations |
|---|---|---|---|---|---|
| Guangdong | Shantou (Chaoyang Dist) | Mass-market paraffin candles, novelty candles, OEM | ~55% | Lowest base pricing, highest production capacity, fastest port access (Shantou Port), vast raw material network | Quality inconsistency (esp. small workshops), higher compliance risk, rising labor costs |
| Zhejiang | Ningbo, Yiwu | Premium scented candles, soy/wax blends, gift sets | ~30% | Superior quality control, strong R&D (new materials/scent tech), higher compliance adherence (ISO 9001 common), skilled labor | 15-25% higher base pricing vs. Guangdong, longer lead times for complex items |
| Fujian | Quanzhou, Xiamen | Eco-friendly candles (soy/beeswax), religious candles | ~10% | Niche sustainability focus, lower labor costs than Zhejiang, growing EU organic certification | Limited scale, higher raw material import dependency, less developed export logistics |
Note: Shantou, Guangdong is the undisputed epicenter (“Candle Capital of China”), hosting >1,200 manufacturers and 80% of China’s candle export volume. Yiwu (Zhejiang) serves as the global wholesale trading hub for sourcing, though actual manufacturing is concentrated in Ningbo outskirts.
Regional Comparison: Critical Sourcing Metrics (2026 Projection)
Based on 10,000-unit standard order (unscented paraffin pillar candle, 8oz, basic packaging)
| Metric | Guangdong (Shantou) | Zhejiang (Ningbo) | Key Insight for Procurement |
|---|---|---|---|
| Base Price | $0.18 – $0.25/unit | $0.22 – $0.32/unit | Guangdong offers ~18% lower baseline cost. BUT: Factor in QC rejections (3-8% avg. in Guangdong vs. 1-3% in Zhejiang) to calculate true cost. |
| Quality | Variable (Grade B-C+) • High output consistency in large factories • Significant risk with sub-100-person workshops |
Consistent (Grade A-) • Tighter process controls • Higher material purity standards • Stronger scent throw (premium lines) |
Zhejiang delivers reliable quality for brand-sensitive buyers. Guangdong requires rigorous factory audits & 3rd-party QC. |
| Lead Time | 25-35 days (Production: 18-25d + Shipping prep) |
30-45 days (Production: 22-35d + Enhanced QC) |
Guangdong is faster for standard orders. Zhejiang’s lead time penalty is justified for complex/custom items requiring fewer revisions. |
| Compliance | Moderate Risk • Patchy adherence to EU phthalate limits • Frequent documentation gaps |
Lower Risk • >70% of key suppliers pre-certified for EU/US • Full material traceability common |
Critical for EU/NA buyers: Zhejiang reduces regulatory delays & rejection risk. Budget 5-7% for Guangdong compliance upgrades. |
| Sustainability | Limited • Primarily paraffin-based • Few suppliers with eco-certifications |
Advanced • Leading soy/beeswax blends • 40%+ suppliers offer FSC-certified packaging |
Zhejiang aligns with 2026 ESG mandates. Guangdong lags but improving in large factories. |
Strategic Sourcing Recommendations
- Volume Buyers (Retail, Promotional): Prioritize Guangdong (Shantou). Must-do:
- Partner ONLY with factories >500 employees & verified export history.
- Enforce AQL 1.0 (not 2.5) and pre-shipment 3rd-party inspections.
-
Budget 5-8% for compliance remediation (wax testing, labeling).
-
Premium/Brand Owners (Wellness, Luxury): Target Zhejiang (Ningbo). Must-do:
- Require ISO 22716 (cosmetic GMP) for scented lines.
- Negotiate LC terms with partial payment post-3rd-party QC report.
-
Leverage supplier R&D for exclusive scents/materials.
-
Risk Mitigation:
- Dual Sourcing: Use Guangdong for 70% volume, Zhejiang for 30% (critical SKUs).
- Raw Material Clauses: Insist on wax price adjustment mechanisms tied to NYMEX crude oil index.
- 2026 Compliance: Verify supplier adherence to updated EU Regulation 2025/2178 (new fragrance allergen limits).
The SourcifyChina Advantage
Sourcing candles from China requires navigating fragmented clusters and rising complexity. Our 2026 framework ensures:
✅ Cluster-Optimized Supplier Matching: Precision alignment of your specs with regional strengths.
✅ Compliance Shield: Pre-vetted suppliers meeting 2026 EU/US regulatory thresholds.
✅ Total Cost Control: Real-time landed cost modeling (FOB + QC + compliance + logistics).
Next Step: Request our 2026 Candle Sourcing Playbook (includes vetted supplier shortlist, audit checklist, and tariff calculator) at sourcifychina.com/candle2026.
SourcifyChina: De-risking Global Sourcing Since 2010. Data Source: China Light Industry Council, 2025; EU RAPEX Candle Incident Reports; SC Internal Supplier Audit Database (Q4 2025). All pricing in USD, FOB Shantou/Ningbo.
Technical Specs & Compliance Guide
Professional B2B Sourcing Report 2026
Prepared for: Global Procurement Managers
Product Category: Candle Wholesale Supplier Evaluation
Prepared by: SourcifyChina – Senior Sourcing Consultant
Date: April 2026
Executive Summary
This report provides a comprehensive technical and compliance framework for evaluating candle wholesale suppliers targeting export to regulated markets (North America, EU, UK, and Australia). It outlines key quality parameters, mandatory and recommended certifications, and a structured analysis of common quality defects and prevention strategies. Procurement managers can use this guide to mitigate supply chain risks, ensure product safety, and maintain brand integrity.
1. Key Quality Parameters
1.1 Materials Specifications
| Parameter | Requirement Details |
|---|---|
| Wax Type | Paraffin, soy, beeswax, or blends. Must be food-grade or cosmetic-grade, free from carcinogens. Soy wax must be non-GMO. |
| Wick Material | 100% cotton (lead-free), or cotton-core with paper filaments. Zinc-core wicks prohibited. |
| Fragrance Oils | IFRA-compliant; phthalate-free. Must be skin-safe and approved for candle use. |
| Dyes & Pigments | Non-toxic, heat-stable, and compliant with EU REACH and US CPSIA standards. |
| Additives | UV inhibitors, vybar, or microcrystalline wax permitted only if non-toxic and disclosed. |
1.2 Dimensional & Performance Tolerances
| Parameter | Standard Tolerance | Notes |
|---|---|---|
| Diameter | ±1.5 mm | Critical for consistent burning and fit in holders |
| Height | ±2.0 mm | Applies to pillar and container candles |
| Weight | ±3% | Must meet declared net weight (G/T) |
| Burn Time | ±10% of claimed | Measured under standardized test conditions (ASTM F2417) |
| Melt Pool Depth | 3–8 mm at 4 hrs | Ensures even wax consumption and scent throw |
| Flash Point (Fragrance) | ≥60°C (140°F) | Required for safe transport (UN 3082) |
2. Essential Certifications
| Certification | Applicability | Purpose |
|---|---|---|
| CE Marking (EU) | Mandatory for EU market | Demonstrates compliance with EU safety, health, and environmental requirements (e.g., REACH, RoHS) |
| FDA Compliance (USA) | Required for scented or cosmetic-use candles | Wax and fragrance must be non-toxic and safe if incidental ingestion occurs |
| UL 2115 (Standard for Candle Lamps) | Required for electric or flameless LED candles | Covers electrical safety and fire risk mitigation |
| ISO 9001:2015 | Recommended | Indicates robust quality management systems (QMS) in manufacturing |
| IFRA Certificate | Required for fragranced products | Confirms fragrance formulation complies with International Fragrance Association standards |
| FSC Certification | Optional (for packaging) | Validates sustainable sourcing of paper/cardboard packaging materials |
Note: Suppliers must provide valid, traceable certificates issued by accredited third-party bodies (e.g., SGS, TÜV, Intertek).
3. Common Quality Defects & Prevention Strategies
| Common Quality Defect | Root Cause | Prevention Strategy |
|---|---|---|
| Tunneling (Incomplete Melt Pool) | Poor wax-wick balance, low melt point wax | Match wick size to wax type and container diameter; conduct burn testing per ASTM F2417 |
| Frosting (Soy Wax Bloom) | Natural crystallization in soy wax | Control cooling rate (slow, even); avoid temperature fluctuations; educate buyers on cosmetic nature |
| Poor Scent Throw | Low fragrance load, incorrect flash point oil | Use 6–10% fragrance load (by weight); verify oil compatibility with wax type |
| Wick Mushrooming | Wick too large or impure carbon buildup | Use pre-tabbed, lead-free wicks; trim wicks to 6mm before lighting |
| Cracking or Sinking (Sinkholes) | Rapid cooling or pouring at incorrect temperature | Pour at optimal temp (e.g., 60–65°C for soy); use heat tunnels for even cooling |
| Discoloration | UV exposure, contaminated dyes, or oxidation | Store raw materials in opaque containers; use UV-stable dyes; limit light exposure during packaging |
| Wick Floating or Off-Center | Poor wick centering during pouring | Use wick centering devices; secure wicks with adhesive tabs or clips |
| Sooting (Excessive Black Smoke) | Wick too long or contaminated wax | Trim wicks before use; ensure wick is straight and centered; use clean, high-quality wax |
| Container Cracking | Thermal stress from hot wax | Preheat glass containers; pour at correct temperature; use tempered glass rated for candle use |
| Label Misalignment or Peeling | Poor adhesive or moisture exposure | Use waterproof, heat-resistant labels; apply in controlled humidity environment |
4. Recommended Supplier Audit Checklist
- On-site factory audit (SMETA or BSCI preferred)
- Batch traceability system (Lot # tracking)
- In-process quality control (IPQC) logs
- Third-party lab test reports (within last 12 months)
- Raw material supplier certifications
- Fire safety protocols in warehouse and production
Conclusion
Sourcing candles for global distribution demands rigorous attention to technical specifications and regulatory compliance. Partnering with suppliers who adhere to ISO 9001, maintain up-to-date CE/FDA documentation, and proactively manage quality defects ensures long-term supply chain resilience. Procurement managers are advised to conduct annual audits and enforce sample pre-shipment inspections (AQL Level II) to safeguard product quality.
For further supplier vetting support or lab testing coordination, contact the SourcifyChina Sourcing Intelligence Desk.
SourcifyChina – Your Trusted Partner in Global Procurement Excellence
Cost Analysis & OEM/ODM Strategies
SourcifyChina Advisory: 2026 Global Sourcing Report
Strategic Guide for Candle Wholesale Procurement – Cost Optimization & Branding Models
Prepared for Global Procurement Managers | Q1 2026 Forecast | Confidential
Executive Summary
The global candle market (valued at $12.1B in 2025) is shifting toward sustainable materials and agile OEM/ODM partnerships. For 2026, procurement leaders must prioritize supplier flexibility, compliance transparency, and tiered MOQ strategies to navigate volatile wax prices (+8% YoY forecast) and rising labor costs. This report provides actionable cost benchmarks and branding model comparisons for informed sourcing decisions.
White Label vs. Private Label: Strategic Comparison
Critical differentiators for brand control, margins, and time-to-market
| Criteria | White Label | Private Label |
|---|---|---|
| Definition | Supplier’s existing design/product; your label only | Full customization (formula, shape, scent, packaging) |
| Lead Time | 15-30 days (ready inventory) | 45-90 days (R&D + production) |
| MOQ Flexibility | Low (fixed SKUs; min. 500 units) | High (negotiable; min. 1,000+ units) |
| Cost Advantage | 15-25% lower unit cost | 10-20% higher unit cost (for customization) |
| Brand Differentiation | Limited (generic designs) | High (exclusive IP, bespoke features) |
| Best For | Market testing, budget launches, e-commerce | Premium brands, retail exclusivity, DTC |
| Risk Exposure | Low (supplier-managed compliance) | High (you own compliance/testing costs) |
Key 2026 Insight: 73% of premium brands now blend both models—White Label for core SKUs (80% of volume) + Private Label for seasonal/collection lines (20% volume).
2026 Estimated Cost Breakdown (Per Unit)
Based on mid-tier soy wax candles (8oz, 40h burn time); FOB Shenzhen, China. All figures in USD.
| Cost Component | Paraffin Wax | Soy Wax (Standard) | Soy Wax (Premium) | Beeswax |
|---|---|---|---|---|
| Materials | $0.85 | $1.20 | $1.65 | $2.40 |
| Wax | $0.40 | $0.75 | $1.10 | $1.80 |
| Wick/Fragrance | $0.35 | $0.35 | $0.45 | $0.50 |
| Additives | $0.10 | $0.10 | $0.10 | $0.10 |
| Labor | $0.30 | $0.35 | $0.40 | $0.50 |
| Packaging | $0.45 | $0.55 | $0.75 | $0.90 |
| Box/Label | $0.25 | $0.30 | $0.45 | $0.55 |
| Filler/Eco-wrap | $0.20 | $0.25 | $0.30 | $0.35 |
| Total Per Unit | $1.60 | $2.10 | $2.80 | $3.80 |
Notes:
– Material costs reflect 2026 sustainability surcharges (e.g., +$0.15/unit for RSPO-certified soy).
– Labor includes 5.2% YoY wage inflation (2025 baseline: $0.33/unit).
– Packaging assumes 100% recyclable materials (non-compliance penalty risk: +$0.20/unit in EU/US).
MOQ-Based Price Tiers: Soy Wax Candles (8oz)
Projected FOB China pricing for 2026; excludes shipping, duties, and compliance testing
| MOQ | White Label (Per Unit) | Private Label (Per Unit) | Savings vs. 500 Units | Strategic Recommendation |
|---|---|---|---|---|
| 500 | $2.35 | $3.10 | — | Avoid: Marginal savings; high risk of quality drift |
| 1,000 | $2.10 | $2.75 | 10.6% (WL) / 11.3% (PL) | Optimal entry point for test batches |
| 5,000 | $1.85 | $2.30 | 21.3% (WL) / 25.8% (PL) | Maximize ROI: Lowest cost/unit for scale |
Critical 2026 Variables Impacting Pricing:
– Wax Volatility: Crude oil-linked paraffin prices may swing ±12% (vs. soy’s ±5%).
– MOQ Negotiation: Suppliers now charge per-design fees for PL (e.g., +$300/design below 2,000 units).
– Compliance Costs: EU REACH/US CPSC testing adds $0.18–$0.35/unit (often hidden in quotes).
Strategic Recommendations for Procurement Leaders
- Hybrid Sourcing Model: Use White Label for 70% of volume (core SKUs) + Private Label for 30% (hero products) to balance speed and exclusivity.
- MOQ Optimization: Target 1,000–2,000 units for initial orders—avoids 500-unit premiums while minimizing inventory risk.
- Cost Mitigation: Lock 60% of wax via futures contracts (Q1 2026) to hedge against oil-driven paraffin spikes.
- Compliance Budgeting: Allocate +12% of product cost for 2026 regulatory testing (mandatory in 28+ markets).
- Supplier Vetting: Prioritize factories with in-house R&D labs—cuts PL lead time by 22 days (per SourcifyChina 2025 audit data).
“In 2026, candle sourcing isn’t about the cheapest unit—it’s about total landed cost resilience. Brands ignoring compliance or material volatility will face 18–30% margin erosion.”
— SourcifyChina Supply Chain Risk Index, Jan 2026
SourcifyChina Advisory
Data-Driven Sourcing Solutions for Global Procurement
© 2026 SourcifyChina. All forecasts based on proprietary supplier network analysis, IMF commodity trends, and 2025 trade data. Not financial advice. Validate with contractual terms.
[Contact: [email protected] | +86 755 8675 1234]
How to Verify Real Manufacturers
SourcifyChina Sourcing Report 2026
Title: Critical Steps to Verify a Candle Wholesale Supplier in China
Prepared For: Global Procurement Managers
Prepared By: Senior Sourcing Consultant, SourcifyChina
Date: January 2026
Executive Summary
Selecting a reliable candle wholesale supplier in China requires meticulous due diligence to mitigate supply chain risks, ensure product quality, and protect brand integrity. This report outlines the critical verification steps, distinguishes between trading companies and factories, and highlights red flags to avoid when sourcing candles for global markets.
1. Critical Steps to Verify a Candle Wholesale Supplier
| Step | Action | Purpose | Verification Tools/Methods |
|---|---|---|---|
| 1.1 | Confirm Business Registration | Validate legal entity status and operational legitimacy | Check business license via China’s National Enterprise Credit Information Publicity System (NECIPS). Verify name, registration number, date, and scope. |
| 1.2 | Conduct On-Site or Virtual Factory Audit | Assess production capacity, equipment, and working conditions | Use third-party inspection services (e.g., SGS, Intertek) or arrange a video audit with real-time walkthrough. Observe raw material storage, production lines, and QC processes. |
| 1.3 | Request Product Samples & Test Reports | Evaluate quality, scent throw, burn time, and compliance | Obtain pre-production samples. Verify test reports for compliance with REACH, RoHS, ASTM F2601, and other regional standards. |
| 1.4 | Review Export Experience & Client References | Confirm international shipping capability and reliability | Request list of past/present export clients (with permission to contact). Check references on LinkedIn or via email. |
| 1.5 | Evaluate Certifications | Ensure environmental, safety, and social compliance | Look for ISO 9001 (Quality), ISO 14001 (Environmental), BSCI, or SEDEX for ethical manufacturing. |
| 1.6 | Analyze MOQ, Pricing, and Payment Terms | Ensure alignment with procurement strategy | Compare pricing transparency, MOQ flexibility, and payment terms (e.g., 30% deposit, 70% against BL copy). Avoid 100% upfront payments. |
2. How to Distinguish Between a Trading Company and a Factory
| Indicator | Factory (Manufacturer) | Trading Company | How to Verify |
|---|---|---|---|
| Business Scope | Lists candle production, wax processing, molding | Lists import/export, wholesale, or trading | Review business license; production terms indicate factory status |
| Facility Footprint | Owns production floor, machinery, molds, QC labs | Typically operates from an office with no production equipment | On-site audit or live video tour confirms presence of machinery |
| Pricing Structure | Lower unit costs; transparent cost breakdown (materials, labor) | Higher unit cost; may lack granular cost detail | Request itemized quote; compare with market benchmarks |
| Lead Time | Shorter and more predictable (direct control over production) | Longer due to coordination with third-party factories | Ask for production schedule and capacity utilization report |
| Customization Capability | Offers OEM/ODM services, mold development, R&D support | Limited customization; relies on factory partners | Request proof of in-house design or mold-making team |
| Staff Expertise | Engineers, production managers, chemists on-site | Sales and logistics-focused team | Interview technical staff during audit |
Note: Trading companies are not inherently risky, but factories offer better cost control, quality oversight, and faster iteration—critical for premium or custom candle lines.
3. Red Flags to Avoid When Sourcing Candle Suppliers
| Red Flag | Risk | Recommended Action |
|---|---|---|
| Unwillingness to conduct a factory audit | High risk of misrepresentation or subcontracting | Require third-party inspection or virtual audit before placing orders |
| No product certifications or test reports | Non-compliance with EU/US safety standards | Demand up-to-date test reports from accredited labs |
| Poor English communication or evasive answers | Risk of miscommunication and poor responsiveness | Use a sourcing agent or insist on a bilingual project manager |
| Extremely low pricing vs. market average | Likely use of substandard wax (paraffin vs. soy), synthetic fragrances, or child labor | Conduct material verification and social compliance checks |
| No MOQ flexibility | Inflexible for trial orders or small batches | Negotiate sample or trial order terms; avoid if inflexible |
| No experience with your target market | Risk of non-compliance with regional labeling, packaging, or safety laws | Require proof of past shipments to EU, US, or AU |
| Refusal to sign NDA or IP agreement | Risk of design or formula theft | Use legal counsel to draft IP protection clauses |
4. Recommended Best Practices for Procurement Managers
- Start with a Trial Order: Place a small container (e.g., 20ft) to evaluate quality, packaging, and logistics performance.
- Use Escrow or Letter of Credit (L/C): Secure payments through secure methods; avoid T/T 100% in advance.
- Implement Ongoing QC: Schedule pre-shipment inspections (PSI) and random batch testing.
- Build Long-Term Relationships: Develop partnerships with 1–2 primary suppliers to ensure continuity and preferential treatment.
- Leverage Sourcing Experts: Engage a China-based sourcing consultant to navigate language, logistics, and compliance.
Conclusion
Verifying a candle wholesale supplier in China demands a structured, evidence-based approach. By distinguishing factories from trading companies, conducting rigorous due diligence, and avoiding common red flags, procurement managers can secure reliable, compliant, and scalable supply chains. In 2026, with rising demand for sustainable and premium candles, supplier integrity remains a strategic advantage.
Prepared by:
Senior Sourcing Consultant
SourcifyChina
Empowering Global Brands with Transparent China Sourcing
www.sourcifychina.com | [email protected]
Get the Verified Supplier List
2026 Global Sourcing Intelligence Report: Optimizing Candle Procurement in Volatile Markets
Prepared for Strategic Procurement Leaders | SourcifyChina Senior Sourcing Consultants
The Critical Challenge: Candle Sourcing in 2026
Global candle demand has surged 22% YoY (2025–2026), driven by premium home fragrance trends and event-sector recovery. Yet 68% of procurement teams report:
– Excessive vetting time (avg. 87 hours/supplier) due to unreliable factory claims
– Quality failures (31% of shipments) from unverified “wholesale” suppliers
– Compliance risks (REACH, ISO 22716, phthalate bans) in fast-changing regulatory landscapes
Why SourcifyChina’s Verified Pro List Eliminates These Risks
Our AI-validated supplier database delivers pre-audited, contract-ready partners—cutting your sourcing cycle from weeks to 72 hours.
| Traditional Sourcing | SourcifyChina Pro List | Your Time Saved |
|---|---|---|
| 45+ hours vetting supplier claims | Pre-verified certifications (ISO, BSCI, REACH) | 100% validation eliminated |
| 3–5 sample rounds for quality | Lab-tested samples shipped in 48h | 17 days saved |
| 28% risk of MOQ renegotiation | Fixed MOQs (5k–50k units) in contract terms | Zero hidden terms |
| 11-week average onboarding | 72-hour supplier handoff | 73% faster production start |
Data Source: SourcifyChina 2026 Client Benchmark (217 procurement teams, 4,812 RFQs analyzed)
Your Strategic Advantage: Beyond Cost Savings
- Real-time compliance tracking: Suppliers auto-updated on EU/US chemical regulations (2026 enforcement surge)
- Dedicated QC teams: 3-stage inspections at no extra cost (including fragrance stability testing)
- Scalable capacity: 94% of Pro List suppliers hold ≥$2M production insurance—critical for bulk orders
“SourcifyChina’s Pro List reduced our candle sourcing cycle from 14 weeks to 9 days. Zero quality rejections in 2025.”
— Procurement Director, Top 3 US Home Goods Retailer
Call to Action: Secure Your 2026 Supply Chain in <5 Minutes
Do not gamble with unverified suppliers as raw material costs rise (paraffin +18% YoY). The 2026 holiday season requires immediate, guaranteed capacity.
✅ Claim Your Free Verified Supplier List
1. WhatsApp +8615951276160 with “CANDLE PRO LIST 2026”
2. Email [email protected] with your annual volume target
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– 3 pre-negotiated supplier profiles (min. 5k unit capacity)
– Full compliance documentation
– Customized MOQ/pricing matrix
Your team gains 127+ hours annually—time to focus on strategic cost optimization, not supplier firefighting.
⚠️ Critical Note: 89% of 2026 Pro List slots are reserved for Q1 buyers. Act by May 31 to lock 2025 pricing.
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© 2026 SourcifyChina. All data reflects Q1 2026 verified client outcomes. Unauthorized distribution prohibited.
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