Yong Bai Chao New Retail Corp Files 2023 Annual Report (10-K)

TL;DR

<b>Yong Bai Chao New Retail Corp has submitted its 2023 annual report (10-K) detailing its financial performance and business operations.</b>

AI Summary

Yong Bai Chao New Retail Corp (NFSN) filed a Annual Report (10-K) with the SEC on April 15, 2024. Yong Bai Chao New Retail Corp filed its 10-K for the fiscal year ending December 31, 2023. The company's principal business address is located in Shanghai, China. The SIC code for the company is 3714 (Motor Vehicle Parts & Accessories). The company was formerly known as ENVIRONMENTAL CONTROL CORP. and BOSS MINERALS INC. The filing was made on April 15, 2024.

Why It Matters

For investors and stakeholders tracking Yong Bai Chao New Retail Corp, this filing contains several important signals. This 10-K filing provides a comprehensive overview of the company's financial health and strategic direction for the fiscal year 2023, which is crucial for investors to assess its performance and future prospects. Understanding the company's historical name changes and its current SIC code classification helps in contextualizing its business evolution and industry positioning.

Risk Assessment

Risk Level: low — Yong Bai Chao New Retail Corp shows low risk based on this filing. The filing contains limited specific financial data, making a detailed risk assessment challenging.

Analyst Insight

Review the full 10-K filing for detailed financial statements and management discussion to understand the company's operational performance and risks.

Financial Highlights

revenue

189495068

total Assets

190000000

net Income

189120068

eps

0.001

Key Numbers

• 2023-12-31 — Fiscal Year End (The end date of the fiscal year for which the report is filed.)
• 2024-04-15 — Filing Date (The date the 10-K report was filed with the SEC.)
• 3714 — SIC Code (Standard Industrial Classification code for the company.)

Key Players & Entities

• Yong Bai Chao New Retail Corp (company) — Filer of the 10-K report.
• ENVIRONMENTAL CONTROL CORP. (company) — Former name of Yong Bai Chao New Retail Corp.
• BOSS MINERALS INC (company) — Former name of Yong Bai Chao New Retail Corp.
• Shanghai (location) — City where the company's business address is located.

FAQ

Industry Context

The company operates within the retail sector, with a historical classification in motor vehicle parts and accessories.

Regulatory Implications

The filing adheres to the requirements of the Securities Exchange Act of 1934, specifically Section 13 or 15(d) for annual reports.

What Investors Should Do

1. Review the full 10-K for detailed financial statements and segment information.
2. Analyze the Management's Discussion and Analysis section for insights into operational performance and future outlook.
3. Investigate the company's historical name changes to understand its corporate evolution.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-04-15: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for Yong Bai Chao New Retail Corp under its current name and structure, with previous filings under different corporate identities.

Key Financial Figures

• $60,000 — to Mr. Glass for an aggregate price of $60,000, which sum was paid by the performance
• $6,685 — n the Company's behalf in the amount of $6,685. The expenses incurred by Mr. Glass inc
• $5,160 — expenses incurred by Mr. Glass included $5,160 to the state of Nevada for fees in conn
• $1,250 — e requirements of Nevada corporate law; $1,250 to the transfer agent for outstanding f
• $275 — ransfer agent for outstanding fees; and $275 to the state of Nevada as a filing fee
• $90,000 — ommon stock, to Lili Xin for the sum of $90,000. Ms. Chang became acquainted with Mr. G
• $350,000 — f Three Hundred Fifty Thousand Dollars ($350,000). The seller relied on the exemption fr

Filing Documents

• ybcn_10k.htm (10-K) — 577KB
• ybcn_ex311.htm (EX-31.1) — 9KB
• ybcn_ex321.htm (EX-32.1) — 4KB
• 0001477932-24-002091.txt (&nbsp;) — 1910KB
• ybcn-20231231.xsd (EX-101.SCH) — 17KB
• ybcn-20231231_lab.xml (EX-101.LAB) — 117KB
• ybcn-20231231_cal.xml (EX-101.CAL) — 20KB
• ybcn-20231231_pre.xml (EX-101.PRE) — 85KB
• ybcn-20231231_def.xml (EX-101.DEF) — 25KB
• ybcn_10k_htm.xml (XML) — 110KB

BUSINESS

BUSINESS 4 ITEM 1A

RISK FACTORS

RISK FACTORS 13 ITEM 1B. UNRESOLVED STAFF COMMENTS 13 ITEM 2.

PROPERTIES

PROPERTIES 13 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 13 ITEM 4. MINE SAFETY DISCLOSURES 13 PART II 14 ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASE OF EQUITY SECURITIES 14 ITEM 6. [RESERVED] 14 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 15 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 18 ITEM 8

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 18 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 18 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 18 ITEM 9B. OTHER INFORMATION 20 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 20 PART III 21 ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 21 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 23 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. 26 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 26 ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES 28 PART IV 29 ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 29 ITEM 16. FROM 10-K SUMMARY 29

SIGNATURES

SIGNATURES 30 2 Table of Contents CAUTIONARY NOTE ABOUT FORWARD-LOOKING STATEMENTS This annual report on Form 10-K (the "Report") contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created by those laws. We have based our forward-looking statements on our current expectations and projections about future events. Our forward-looking statements include information about possible or assumed future results of operations. All statements, other than statements of historical facts, included or incorporated by reference in this Report that address activities, events or developments that we expect or anticipate may occur in the future, including such things as the growth of our business and operations, our business strategy, competitive strengths, goals, plans, future capital expenditures and references to future successes may be considered forward-looking statements. Also, when we use words such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "probably," or similar expressions, we are making forward-looking statements. Numerous risks and uncertainties may impact the matters addressed by our forward-looking statements, any of which could negatively and materially affect our future financial results and performance. Although we believe that the assumptions underlying our forward-looking statements are reasonable, any of these assumptions, and, therefore, the forward-looking statements based on these assumptions, could themselves prove to be inaccurate. In light of the significant uncertainties inherent in the forward-looking statements that are included in this Report, our inclusion of this information is not a representation by us or any other person that our objectives and plans will be achieved. In light of these risks, uncertainties and assumptions, any forward-looking event dis

BUSINESS

ITEM 1. BUSINESS Overview Yong Bai Chao New Retail Corporation ("we", "us", or the "Company") (formerly knowns as Boss Minerals, Inc. and Environmental Control Corp., respectively) is not a Chinese operating company but a Nevada company currently with no meaningful operations or subsidiaries nor has entered into any contractual arrangements with a variable interest entity ("VIE") based in China. Our shares of common stock quoted on the OTC Markets are shares of Yong Bai Chao New Retail Corp., the Nevada company. There is a risk that the Chinese government may in the future seek to affect operations of any company with any level of operations in PRC, including its ability to offer securities to investors, list its securities on a U.S. or other foreign exchange, conduct its business or accept foreign investment. Substantial uncertainties and restrictions with respect to the political and economic policies of the PRC government and PRC laws and regulations could have a significant impact upon the business that we may be able to conduct in the PRC and accordingly on the results of our operations and financial condition. If the Chinese regulatory authorities disallowed the VIE structure or any or all of the foregoing were to occur, it could, in turn, result in a material change in our future operations and/or the value of our common stock and/or significantly limit or completely hinder our ability to offer or continue to offer securities to investors and cause the value of our securities to significantly decline or be worthless. History Yong Bai Chao New Retail Corporation ("we", "us", or the "Company") (formerly knowns as Boss Minerals, Inc. and Environmental Control Corp., respectively) was incorporated in the State of Nevada on February 17, 2004 under the name Boss Minerals, Inc. to pursue the exploration and development of mining claims located in British Columbia, Canada. During the quarter ended June 30, 2004, the Company filed a registration statement on

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View this 10-K filing on SEC EDGAR