GUOCHUN INTERNATIONAL INC. Files 2023 Annual Report on Form 10-K

TL;DR

<b>GUOCHUN INTERNATIONAL INC. has filed its 2023 annual report (10-K), detailing its operations and financial status.</b>

AI Summary

GUOCHUN INTERNATIONAL INC. (GCGJ) filed a Annual Report (10-K) with the SEC on April 16, 2024. GUOCHUN INTERNATIONAL INC. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company was formerly known as Charmt, Inc., with a name change effective January 16, 2019. Its principal executive offices are located at 66 West Flagler Street, Suite 900 - #3040, Miami, FL 33130. The company's common stock trades under the symbol GCGJ on OTC Markets. GUOCHUN INTERNATIONAL INC. is incorporated in Nevada and operates within the Services-Computer Programming, Data Processing, etc. sector (SIC code 7370).

Why It Matters

For investors and stakeholders tracking GUOCHUN INTERNATIONAL INC., this filing contains several important signals. This filing provides a comprehensive overview of the company's performance and financial position for the fiscal year ended December 31, 2023, which is crucial for investors to assess its current standing and future prospects. As a publicly traded entity on OTC Markets, this 10-K filing is essential for regulatory compliance and transparency, offering stakeholders detailed information about the company's business, risks, and financial health.

Risk Assessment

Risk Level: low — GUOCHUN INTERNATIONAL INC. shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate indicators of significant financial distress or major operational shifts, suggesting a baseline risk profile for a company of this nature.

Analyst Insight

Review the full 10-K filing for detailed financial statements, risk factors, and management discussion to understand GUOCHUN INTERNATIONAL INC.'s operational performance and strategic direction.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reported fiscal year end date)
• 2024-04-16 — Filing Date (Date the 10-K was filed)
• 333-229830 — Commission File Number (SEC Commission File Number)
• 7370 — SIC Code (Standard Industrial Classification Code)
• 32-0575017 — IRS Number (IRS Employer Identification Number)
• 12512629446 — Business Phone (Registrant's business phone number)

Key Players & Entities

• GUOCHUN INTERNATIONAL INC. (company) — Filer name
• Charmt, Inc. (company) — Former company name
• Miami, FL (location) — Business and mailing address city and state
• GCGJ (ticker) — Trading symbol for common stock
• OTC Markets (company) — Exchange where common stock is registered
• Nevada (location) — State of incorporation
• 7370 (other) — Standard Industrial Classification Number
• 32-0575017 (other) — IRS Employer Identification No.

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-04-16: 10-K Filing Date — Date GUOCHUN INTERNATIONAL INC. submitted its annual report.

Key Financial Figures

• $76,535 — Gediminas Knyzelis agreed to waive the $76,535 amount due to him at June 27, 2022 and

Filing Documents

• gcgj10k_31december2023.htm (10-K) — 702KB
• ex31.htm (EX-31.1) — 11KB
• ex32.htm (EX-32.1) — 6KB
• 0001765048-24-000010.txt (&nbsp;) — 1987KB
• gcgj-20231231.xsd (EX-101.SCH) — 11KB
• gcgj-20231231_cal.xml (EX-101.CAL) — 16KB
• gcgj-20231231_def.xml (EX-101.DEF) — 13KB
• gcgj-20231231_lab.xml (EX-101.LAB) — 99KB
• gcgj-20231231_pre.xml (EX-101.PRE) — 73KB
• gcgj10k_31december2023_htm.xml (XML) — 162KB

of this Form 10-K or any amendment to this Form 10-K

Part III of this Form 10-K or any amendment to this Form 10-K. Yes No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act. Large accelerated filer [ ] Accelerated Non-accelerated Smaller reporting company [ X ] Emerging growth company [ X ] If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ] Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No The aggregate market value of the voting stock and non-voting common equity held by non-affiliates of the registrant as of April 15, 2024 , was approximately 3,870,600 common shares issued and outstanding. Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date. Class Outstanding at April 15, 2024 Common Stock, $.001 par value 3,870,600 GUOCHUN INTERNATIONAL INC. (FORMER NAME: CHARMT, INC.) FORM 10-K For the fiscal year ended December 31, 2023 Index Page # PART I Item 1.

Business

Business 4 Item 1A. Risk Factors 4 Item 1B. Unresolved Staff Comments 20 Item 2.

Properties

Properties 20 Item 3. Legal Proceedings 20 Item 4. Mine Safety Disclosures 20 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 20 Item 6. Selected Financial Data 20 Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 7A. Quantitative and Qualitative Disclosures About Market Risk 23 Item 8. Financial 23 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosures 23 Item 9A. Controls and Procedure 24 Item 9B. Other Information 25 PART III Item 10. Directors, Executive Officers and Corporate Governance 25 Item 11. Executive Compensation 27 Item 12. Security 28 Item 13. Certain Relationships and Related Transactions, and Director Independence 28 Item 14. Principal Accounting Fees and Services 29 PART IV Item 15. Exhibits, Financial Statement Schedules 30

SIGNATURES

SIGNATURES 31 2 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements. These forward-looking statements are not historical facts but rather are based on current expectations, estimates and projections. We may use words such as "anticipate," "expect," "intend," "plan," "believe," "foresee," "estimate" and variations of these words and similar expressions to identify forward-looking statements. These statements are not guarantees of future performance and are actual results to differ materially from those expressed or forecasted. This report should be read completely and with the understanding that actual future results may be materially different from what we expect. The forward-looking statements included in this report are made as of the date of this report and should be evaluated with consideration of any changes occurring after the date of this Report. We will not update forward-looking statements even though our situation may change in the future and we assume no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Use of Defined Terms Except as otherwise indicated by the context, references in this Report to: The "Company," "we," "us," or "our," "GCGJ" are references to GUOCHUN INTERNATIONAL INC. (FORMER NAME: CHARMT, INC.) a Nevada corporation. "Common Stock" refers to the common stock, par value $.001, of the Company; "U.S. dollar," "

Business

Business Overview Guochun International Inc. (Former name: Charmt, Inc.), a Nevada corporation ("the Company") was incorporated under the laws of the Guochun International Inc. (Former name: Charmt, Inc.) (the "Company") was incorporated in the State of Nevada on August 2, 2018. To June 27, 2022, the Company was developing a messenger application. On June 27, 2022, Gediminas Knyzelis, the Company's former sole officer and director and majority stockholder, sold 3,000,000 shares of Company common stock (representing 77.5% of the 3,870,600 shares of common stock issued and outstanding at June 27, 2022) to Zhou Xuan. In connection therewith, Gediminas Knyzelis resigned as officer and director of the Company and Zhou Xuan consented to act as the Company's chief executive officer, chief financial officer, and director. Also, Gediminas Knyzelis agreed to waive the $76,535 amount due to him at June 27, 2022 and the Company agreed to assign the software acquired by the Company on March 17, 2022 to Gediminas Knyzelis. As a result of the ownership and management change described above, the Company ceased its former business plans and is now searching for business opportunities to acquire. Competition and Market Conditions We will face substantial competition in our efforts to identify and pursue a business venture. The primary source of competition is expected to be from other companies organized and funded for similar purposes, including small venture capital firms, blank check companies, and wealthy investors, many of which may have substantially greater financial and other resources than we do. In light of our limited financial and human resources, we are at a competitive disadvantage compared to many of our competitors in our efforts to obtain an operating business or assets necessary to commence our operations in a new field. Additionally, with the economic downturn caused by the coronavirus pandemic, many venture capital firms and simi

RISK

ITEM 1A. RISK FACTORS You should carefully consider the risks described below and elsewhere in this Annual Report, which could materially and adversely affect our business, results of operations or financial condition. Our business faces significant risks and the risks described below may not be the only risks we face. Additional risks not presently known to us or that we currently believe are immaterial may materially affect our business, results of operations, or financial condition. If any of these risks occur, the trading price of our common stock could be decline and you may lose all or part of your investment. COVID-19 Pandemic COVID-19 pandemic has had, and may continue to have, an adverse effect on our business and our financial results. In December 2019, a novel strain of coronavirus was discovered in China, which has and is continuing to spread throughout the world. On January 30, 2020, the World Health Organization declared the outbreak of the COVID-19 disease a "Public Health Emergency of International Concern." On March 11, 2020, the World Health Organization characterized the outbreak as a "pandemic." The COVID-19 outbreak has resulted in, and a significant outbreak of other infectious diseases could result in, a widespread health crisis that could materially and adversely affect the economies and financial markets worldwide, and the operations and financial position of any potential target business with which we consummate a business combination could be materially and adversely affected. In 2022, the sporadic outbreaks of COVID-19 had material impact on the industry in China. The government's "zero-COVID" policy required, from time to time, quarantines, rolling lockdowns, office closures and travel restrictions to control outbreaks in affected local areas. As a result of the COVID control measures, we were unable to implement some of our business and marketing plans, and our operating results were negatively affected by the sporadic COVID out

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