China Foods Holdings Ltd. Files 10-Q for Period Ending March 31, 2024
Ticker: CFOO · Form: 10-Q · Filed: May 15, 2024 · CIK: 1310630
| Field | Detail |
|---|---|
| Company | China Foods Holdings Ltd. (CFOO) |
| Form Type | 10-Q |
| Filed Date | May 15, 2024 |
| Risk Level | |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $1.01, $253,425 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, China Foods Holdings, Financial Report, Medicinal Chemicals, Botanical Products
TL;DR
<b>China Foods Holdings Ltd. filed its Q1 2024 10-Q report, detailing financial performance and company information.</b>
AI Summary
China Foods Holdings Ltd. (CFOO) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. China Foods Holdings Ltd. filed a 10-Q report for the period ending March 31, 2024. The company's SIC code is 2833 (Medicinal Chemicals & Botanical Products). The filing covers the first quarter of the fiscal year. The company's business address is in Wanchai, Hong Kong. The report includes financial data for the periods ending March 31, 2024, December 31, 2023, and March 31, 2023.
Why It Matters
For investors and stakeholders tracking China Foods Holdings Ltd., this filing contains several important signals. The 10-Q filing provides a quarterly update on the company's financial health and operational status, crucial for investors to assess performance. The SIC code 2833 indicates the company operates within the medicinal chemicals and botanical products sector, which can be subject to specific regulatory and market dynamics.
Risk Assessment
Risk Level: — China Foods Holdings Ltd. shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags, indicating a routine disclosure.
Analyst Insight
Review the detailed financial statements and segment information within the 10-Q to understand revenue drivers and cost structures for Q1 2024.
Revenue Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| SaleOfWineProducts | ||
| SalesOfHealthcareProducts |
Key Numbers
- 2024-03-31 — Period of Report (CONFORMED PERIOD OF REPORT)
- 2024-05-15 — Filing Date (FILED AS OF DATE)
- 2024-01-01 — Quarter Start Date (2024-01-01)
- 2024-03-31 — Quarter End Date (2024-03-31)
- 2023-03-31 — Prior Year Quarter End (2023-03-31)
Key Players & Entities
- China Foods Holdings Ltd. (company) — FILER
- 0001310630 (company) — CENTRAL INDEX KEY
- 2833 (company) — STANDARD INDUSTRIAL CLASSIFICATION
- 03 Life Sciences (company) — ORGANIZATION NAME
- DE (company) — STATE OF INCORPORATION
- WANCHAI (company) — CITY
- CFOO (company) — tk
- EliteCreationGroupLimitedMember (company) — CFOO:EliteCreationGroupLimitedMember
FAQ
When did China Foods Holdings Ltd. file this 10-Q?
China Foods Holdings Ltd. filed this Quarterly Report (10-Q) with the SEC on May 15, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by China Foods Holdings Ltd. (CFOO).
Where can I read the original 10-Q filing from China Foods Holdings Ltd.?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by China Foods Holdings Ltd..
What are the key takeaways from China Foods Holdings Ltd.'s 10-Q?
China Foods Holdings Ltd. filed this 10-Q on May 15, 2024. Key takeaways: China Foods Holdings Ltd. filed a 10-Q report for the period ending March 31, 2024.. The company's SIC code is 2833 (Medicinal Chemicals & Botanical Products).. The filing covers the first quarter of the fiscal year..
Is China Foods Holdings Ltd. a risky investment based on this filing?
Based on this 10-Q, China Foods Holdings Ltd. presents a moderate-risk profile. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags, indicating a routine disclosure.
What should investors do after reading China Foods Holdings Ltd.'s 10-Q?
Review the detailed financial statements and segment information within the 10-Q to understand revenue drivers and cost structures for Q1 2024. The overall sentiment from this filing is neutral.
How does China Foods Holdings Ltd. compare to its industry peers?
The company operates within the medicinal chemicals and botanical products industry, which is subject to stringent regulations and evolving consumer demands for health and wellness products.
Are there regulatory concerns for China Foods Holdings Ltd.?
Companies in the medicinal chemicals and botanical products sector must adhere to regulations concerning product safety, efficacy, and marketing, overseen by relevant health authorities.
Industry Context
The company operates within the medicinal chemicals and botanical products industry, which is subject to stringent regulations and evolving consumer demands for health and wellness products.
Regulatory Implications
Companies in the medicinal chemicals and botanical products sector must adhere to regulations concerning product safety, efficacy, and marketing, overseen by relevant health authorities.
What Investors Should Do
- Analyze the revenue breakdown by product segment (wine vs. healthcare) for Q1 2024.
- Examine any disclosed notes or risk factors related to the company's operations in the medicinal chemicals and botanical products sector.
- Compare key financial metrics from this 10-Q with the previous year's Q1 filing to identify trends.
Key Dates
- 2024-03-31: Period End — Financial reporting period
- 2024-05-15: Filing Date — Date of submission to SEC
Year-Over-Year Comparison
This 10-Q filing provides the first quarter financial update for 2024, allowing for comparison with the first quarter of 2023 and the full year 2023 data.
Filing Stats: 4,497 words · 18 min read · ~15 pages · Grade level 16.8 · Accepted 2024-05-15 13:33:46
Key Financial Figures
- $1.01 — t's shares were last sold at a price of $1.01 per share. Although the Registrant's st
- $253,425 — affiliates would have a market value of $253,425. As of May 15, 2024, the Registrant h
Filing Documents
- form10-q.htm (10-Q) — 623KB
- ex31-1.htm (EX-31.1) — 13KB
- ex32-1.htm (EX-32.1) — 5KB
- 0001493152-24-019684.txt ( ) — 4129KB
- cfoo-20240331.xsd (EX-101.SCH) — 39KB
- cfoo-20240331_cal.xml (EX-101.CAL) — 55KB
- cfoo-20240331_def.xml (EX-101.DEF) — 118KB
- cfoo-20240331_lab.xml (EX-101.LAB) — 251KB
- cfoo-20240331_pre.xml (EX-101.PRE) — 210KB
- form10-q_htm.xml (XML) — 606KB
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION Item 1. Unaudited Condensed Consolidated Financial Statements 3 Notes to Unaudited Condensed Consolidated Financial Statements 7 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 26 Item 4.
Controls and Procedures
Controls and Procedures 26
– OTHER INFORMATION
PART II – OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 26 Item 1A.
Risk Factors
Risk Factors 26 Item 2. Unregistered Sales of Equity Securities and Proceeds 26 Item 3. Defaults Upon Senior Securities 27 Item 4. Mine Safety Disclosure 27 Item 5. Other Information 27 Item 6. Exhibits 27
SIGNATURES
SIGNATURES 28 2 PART I – FINANCIAL INFORMATION Item 1. Financial Statements China Foods Holdings Ltd. Condensed Consolidated Balance Sheets (Currency expressed in United States Dollars ("US
quot;), except for number of shares) March 31, 2024 December 31, 2023 (Unaudited) (Audited) ASSETS Current Assets Cash and cash equivalents $ 122,833 $ 174,877 Accounts receivable, net - 38,831 Prepayments, deposits and other receivables 67,849 66,817 Right-of-use assets, net 7,020 20,796 Inventories, net 58,810 48,282 Total Current Assets 256,512 349,603 Non-Current Assets Plant and equipment, net 12,668 12,981 Intangible assets, net 2,426 2,597 Total Non-Current Assets 15,094 15,578 TOTAL ASSETS $ 271,606 $ 365,181 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Accrued liabilities and other payables $ 95,596 $ 93,395 Customer deposits 67,461 68,885 Lease liabilities 7,138 21,038 Amount due to a director 232,585 232,344 Amount due to a related company 319,567 320,315 Amount due to a related party 319,567 320,315 Income tax payable 4,396 20,019 Total Current Liabilities 726,743 755,996 Stockholders' (Deficit) Equity Common stock $ 0.0001 par value, 100,000,000 shares authorized, 20,252,309 and 20,252,309 shares issued and outstanding as of March 31, 2024 and 2023, respectively 2,025 2,025 Additional paid-in capital 1,290,355 1,290,355 Accumulated other comprehensive loss ( 9,883 ) ( 7,222 ) Accumulated deficit ( 1,737,634 ) ( 1,675,973 ) Total Stockholders' Deficit ( 455,137 ) ( 390,815 ) TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 271,606 $ 365,181 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 3 China Foods Holdings Ltd. Condensed Consolidated Statements of Operations and Comprehensive Loss (Currency expressed in United States Dollars ("USquot;), except for number of shares)