Maitong Sunshine Files 2024 Annual Report

TL;DR

Maitong Sunshine filed its 2024 10-K. All systems go for transportation services.

AI Summary

Maitong Sunshine Cultural Development Co., Ltd. filed its annual report (10-K) for the fiscal year ended September 30, 2024. The company, incorporated in Nevada, operates in the transportation services sector. Its principal executive offices are located in Beijing, China.

Why It Matters

This filing provides a comprehensive overview of Maitong Sunshine's financial performance and operational status for the past fiscal year, crucial for investors and stakeholders to assess the company's health.

Risk Assessment

Risk Level: low — The provided text is a standard 10-K filing header and does not contain specific financial or operational details that would indicate a high risk.

Key Numbers

• 0930 — Fiscal Year End (Indicates the end of the reporting period for financial statements.)
• 2024 — Fiscal Year (Specifies the year covered by the annual report.)

Key Players & Entities

• Maitong Sunshine Cultural Development Co., Ltd (company) — Registrant
• September 30, 2024 (date) — Fiscal Year End
• Nevada (jurisdiction) — State of Incorporation
• 93-4332287 (identifier) — IRS Employer Identification Number
• 000-56677 (identifier) — SEC File Number
• Beijing, China (location) — Business Address

FAQ

Key Financial Figures

• $0.001 — Section 12(g) of the Act: Common Stock, $0.001 par value. Indicate by check mark if

Filing Documents

• ea0222101-10k_maitong.htm (10-K) — 718KB
• ea022210101ex21-1_maitong.htm (EX-21.1) — 3KB
• ea022210101ex31-1_maitong.htm (EX-31.1) — 12KB
• ea022210101ex31-2_maitong.htm (EX-31.2) — 12KB
• ea022210101ex32-1_maitong.htm (EX-32.1) — 4KB
• ea022210101ex32-2_maitong.htm (EX-32.2) — 4KB
• image_001.jpg (GRAPHIC) — 16KB
• 0001213900-24-101777.txt ( ) — 4129KB
• mgsd-20240930.xsd (EX-101.SCH) — 45KB
• mgsd-20240930_cal.xml (EX-101.CAL) — 36KB
• mgsd-20240930_def.xml (EX-101.DEF) — 192KB
• mgsd-20240930_lab.xml (EX-101.LAB) — 312KB
• mgsd-20240930_pre.xml (EX-101.PRE) — 199KB
• ea0222101-10k_maitong_htm.xml (XML) — 354KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 6 Item 1B Unresolved Staff Comments 24 Item 1C Cybersecurity 24 Item 2. Properties. 25 Item 3. Legal Proceedings. 25 Item 4. Mine Safety Disclosure 25 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. 26 Item 6. [Reserved] 27 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. 27 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 29 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data. F-1 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. 30 Item 9A.

Controls and Procedures

Controls and Procedures. 30 Item 9B. Other Information. 31 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 31 PART III Item 10. Directors, Executive Officers, and Corporate Governance. 32 Item 11.

Executive Compensation

Executive Compensation. 34 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 35 Item 13. Certain Relationships and Related Transactions, and Director Independence. 36 Item 14. Principal Accountant Fees and Services. 37 PART IV Item 15. Exhibits, Financial Statement Schedules. 38 Item 16 Form 10-K Summary 38 i PART I Cautionary Statement Regarding Forward Looking The discussion contained in this Annual Report on Form 10-K contains "forward-looking statements" within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Any statements about our expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases like "anticipate," "estimate," "plans," "projects," "continuing," "ongoing," "target," "expects," "management believes," "we believe," "we intend," "we may," "we will," "we should," "we seek," "we plan," the negative of those terms, and similar words or phrases. We base these forward-looking date of this Form 10-K. These forward-looking statements are subject to a number of risks and uncertainties that cannot be predicted, quantified or controlled and that could cause actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. Statements in this Form 10-K describe factors, among others, that could contribute to or cause these differences. Actual results may vary materially from those anticipated, estimated, projected or expected should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect. Becau

Business

Item 1. Business Corporate Structure Maitong Sunshine Cultural Development Co., Limited ("MGSD") was incorporated in the State of Nevada on October 26, 2023. Our website address is www.maitongsunshine.com. Our website and the information contained on, or that can be accessed through, the website is not deemed to be incorporated by reference in, and is not considered part of, this Report. The Company, through its operating subsidiary, which is headquartered in Beijing, China, is engaged in the business of providing cultural tourism (include Education Tours and Family Tours) and distributing Chinese cultural and creative products. During the 2025 fiscal year, the Company expects to expand the scope of its subsidiary's business to include organizing and managing arts expositions. At September 30, 2024, the Company's subsidiaries are: Maitong Sunshine Cultural Development Co., Limited ("MGSD") is a publicly-held corporation that was registered in Nevada, USA on October 26, 2023. On November 27, 2023, MGSD issued 60,000,000 shares of its common stock to the original shareholders of Maitong Sunshine Cultural Development Co., Limited (Samoa), in exchange for 100% of the outstanding shares of Maitong Sunshine Cultural Development Co., Limited (Samoa) (the "Share Exchange"). Maitong Sunshine Cultural Development Co., Limited (Samoa) ("MGSD Samoa"), initially named as Oriental Culture Development Co., Limited (Samoa) , was established on September 7, 2023 under the laws of Samoa. Maitong Sunshine Cultural Development Co., Limited (Hong Kong) ("MGSD HK"), initially named as Oriental Culture Development Co., Limited (Hong Kong) , was established on September 13, 2023 under the laws of Hong Kong. MGSD Samoa holds a 100% interest in MGSD HK. 1 Beijing Tongzhilian Cultural Development Co., Limited ("Tongzhilian"), a privately held Limited Company, was approved on September 13, 2023 and registered on October 11, 2023 in Beijing, China. MGSD HK holds a 100% interest in To

Risk Factors

Item 1A. Risk Factors. An investment in MGSD's common stock involves a high degree of risk. You should carefully consider the following risk factors and other information before deciding to invest in MGSD's common stock. If any of the following risks are actually realized, the Company business, financial condition, results of operations and prospects for growth could be seriously harmed. As a result, the trading price of MGSD's common stock could decline and you could lose all or part of your investment. 6 Risks Related to Our Business A computer system failure, security breach or a breach of data privacy or security obligations may disrupt our business, damage our reputation and adversely affect our results of operations, financial condition and cash flows. We will rely on computer and information systems and internet and network connectivity to conduct a large portion of our business operations. This includes the need to securely store, process and transmit confidential information, including personal information. In many cases this also includes transmission and processing to or through commercial customers, business partners and third-party service providers. The introduction of new technologies, computer system failures, cyber-crime attacks or security or privacy breaches may materially disrupt our business operations, damage our reputation, result in regulatory and litigation exposure, investigation and remediation costs, and materially and adversely affect our results of operations, financial condition and cash flows. The information security risk that we face includes the risk of malicious outside forces using public networks and other methods, including social engineering and the exploitation of targeted offline processes, to attack our systems and information. It also includes inside threats, both malicious and accidental. For example, human error and lack of sufficiently automated processing can result in improper information exposure or use. We

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