China Foods Holdings Ltd. Files 2023 Annual Report

TL;DR

<b>China Foods Holdings Ltd. has submitted its 2023 annual 10-K filing, detailing its financial performance and business operations.</b>

AI Summary

China Foods Holdings Ltd. (CFOO) filed a Annual Report (10-K) with the SEC on April 16, 2024. China Foods Holdings Ltd. filed its 10-K for the fiscal year ending December 31, 2023. The company's SIC code is 2833, indicating operations in Medicinal Chemicals & Botanical Products. The filing was made on April 16, 2024. The company's business and mailing address is Suite 3102, Everbright Center, 108 Gloucester Road, Wanchai. The company was formerly known as Trafalgar Resources, Inc. before a name change on May 13, 2019.

Why It Matters

For investors and stakeholders tracking China Foods Holdings Ltd., this filing contains several important signals. The 10-K filing provides a comprehensive overview of the company's financial health and strategic direction for the fiscal year 2023. Understanding the details within this filing is crucial for investors to assess the company's performance, risks, and future prospects.

Risk Assessment

Risk Level: — China Foods Holdings Ltd. shows moderate risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate red flags, indicating a routine disclosure.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand China Foods Holdings Ltd.'s operational performance and potential challenges.

Key Players & Entities

• China Foods Holdings Ltd. (company) — Filer
• 2023 (date) — Fiscal Year End
• April 16, 2024 (date) — Filed As Of Date
• 2833 (industry) — Standard Industrial Classification
• Medicinal Chemicals & Botanical Products (industry) — Standard Industrial Classification
• DE (state) — State of Incorporation
• Trafalgar Resources, Inc. (company) — Former Company Name
• 20190513 (date) — Date of Name Change

FAQ

Industry Context

The company operates within the Medicinal Chemicals & Botanical Products industry (SIC 2833).

Regulatory Implications

The filing is a standard 10-K report under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the revenue segments for Consultancy Service Fee Income and Sales of Healthcare.
2. Examine the company's asset and debt structure as of December 31, 2023.
3. Review any disclosed risk factors related to the company's operations or industry.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-04-16: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial filing analyzed, so no comparison to a previous filing is available.

Key Financial Figures

• $1.01 — t's shares were last sold at a price of $1.01 per share. Although the Registrant's st
• $0 — of Trafalgar's common stock, par value $0.0001, signed a written consent approvin

Filing Documents

• form10-k.htm (10-K) — 1102KB
• ex31-1.htm (EX-31.1) — 12KB
• ex32-1.htm (EX-32.1) — 6KB
• form10-k_001.jpg (GRAPHIC) — 19KB
• form10-k_002.jpg (GRAPHIC) — 32KB
• form10-k_003.jpg (GRAPHIC) — 25KB
• audit_001.jpg (GRAPHIC) — 51KB
• audit_002.jpg (GRAPHIC) — 9KB
• 0001493152-24-014708.txt (&nbsp;) — 5375KB
• cfoo-20231231.xsd (EX-101.SCH) — 40KB
• cfoo-20231231_cal.xml (EX-101.CAL) — 60KB
• cfoo-20231231_def.xml (EX-101.DEF) — 124KB
• cfoo-20231231_lab.xml (EX-101.LAB) — 271KB
• cfoo-20231231_pre.xml (EX-101.PRE) — 222KB
• form10-k_htm.xml (XML) — 763KB

Business

Business 3 Item 1C Cybersecurity 10 Item 2.

Properties

Properties 10 Item 3.

Legal Proceedings

Legal Proceedings 10 Item 4. Mine Safety Disclosures 10 PART II Item 5. Market for Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 11 Item 6.

Selected Financial Data

Selected Financial Data 12 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 12 Item 7A.

Quantitative And Qualitative Disclosures About Market Risk

Quantitative And Qualitative Disclosures About Market Risk 25 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 26 Item 9. Changes In and Disagreements with Accountants on Accounting and Financial Disclosures 48 Item 9A.

Controls and Procedures

Controls and Procedures 48 Item 9B. Other Information 48 PART III Item 10. Directors and Executive Officers, Promoters, Control Persons, and Corporate Governance 49 Item 11.

Executive Compensation

Executive Compensation 52 Item 12.

Security Ownership of Certain Beneficial Owners and Management

Security Ownership of Certain Beneficial Owners and Management 53 Item 13. Certain Relationships and Related Transactions, and Director Independence 54 Item 14. Principal Accountant Fees and Services 54 PART IV Item 15. Exhibits, Financial Statement Schedules 55

Signatures

Signatures 56 2 PART I ITEM 1. BUSINESS China Foods Holdings Ltd. (the "Company", "CFOO", or "we") was incorporated in Delaware on January 10, 2019. On January 23, 2019, the Company entered into an Agreement and Plan of Merger (the "Agreement") with Trafalgar Resources, Inc., a Utah corporation ("Trafalgar"). Pursuant to the Agreement, the Company merged with Trafalgar (the "Merger") with the Company as the surviving entity. Prior to the Merger, Trafalgar had not commenced operations for several years that had resulted in significant revenue and Trafalgar's efforts had been devoted primarily to activities related to raising capital and attempting to acquire an operating entity. The Company is a Delaware holding company and we conduct our business through our wholly owned subsidiary Guangzhou Xiao Xiang Health Industry Company Limited, a limited liability company organized under the laws of China on March 8, 2017 ("GXXHIC"). GXXHIC is wholly owned by Alpha Wellness (HK) Limited, a limited liability company organized under the laws of Hong Kong on April 24, 2019, which is in turn wholly owned by Elite Creation Group, a limited liability company formed under the laws of the British Virgin Islands formed on September 5, 2018. Alpha Wellness (HK) Limited and Elite Creation Group are holding companies without operations and are wholly owned by the Company. Substantially all of our operations are conducted in China, and are governed by Chinese laws, rules and regulations. Our subsidiary, GXXHIC, is subject to Chinese laws, rules, and regulations. Uncertainties with respect to the interpretation and enforcement of Chinese laws, rules and regulations could have a material adverse effect on us. Risks and uncertainties arising from the legal system in China, including risks and uncertainties regarding that the rules and regulations in China can change quickly with little advance notice and that the Chinese government may intervene or influence our operations at a

View Full Filing

View this 10-K filing on SEC EDGAR