TANCHENG GROUP CO., LTD. Files Annual Report on Form 10-K for Fiscal Year Ended December 31, 2023

TL;DR

<b>TANCHENG GROUP CO., LTD. has filed its 2023 annual report (10-K), detailing its financial performance and business operations for the year ending December 31, 2023.</b>

AI Summary

TANCHENG GROUP CO., LTD. (QSJC) filed a Annual Report (10-K) with the SEC on March 29, 2024. TANCHENG GROUP CO., LTD. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company was formerly known as BIGEON CORP. and changed its name on September 18, 2018. The filing covers the fiscal year from January 1, 2023, to December 31, 2023. The company is incorporated in Nevada (NV) and its principal business address is in Shanxi Province, China. The Standard Industrial Classification code is 7370, indicating services in computer programming and data processing.

Why It Matters

For investors and stakeholders tracking TANCHENG GROUP CO., LTD., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Tancheng Group's financial health, operational activities, and strategic direction for the fiscal year 2023, which is crucial for investors to assess the company's performance and future prospects. Understanding the details within this filing is important for stakeholders to evaluate potential risks, opportunities, and the overall market position of Tancheng Group within the computer programming and data processing sector.

Risk Assessment

Risk Level: medium — TANCHENG GROUP CO., LTD. shows moderate risk based on this filing. The company's business address and phone number are listed with Chinese country codes and a non-standard state code (F4), suggesting potential complexities in international operations or reporting accuracy.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 10-K to understand the company's operational and financial standing.

Key Numbers

• 20231231 — Fiscal Year End (Reported period)
• 20240329 — Filing Date (Date of submission)
• 000-56590 — SEC File Number (Company's SEC file number)
• 0001753391 — Central Index Key (Company's unique identifier)

Key Players & Entities

• TANCHENG GROUP CO., LTD. (company) — Filer name
• BIGEON CORP. (company) — Former company name
• 20180918 (date) — Date of name change
• NV (state) — State of incorporation
• 7370 (industry_code) — Standard Industrial Classification code
• LVLIANG CITY (location) — City in business address
• SHANXI PROVINCE (location) — Province in business address
• 8613910972765 (phone_number) — Business phone number

FAQ

Risk Factors

• Business Address and Contact Information [medium — operational]: The company lists a business address in Shanxi Province, China, with a non-standard state code 'F4' and a Chinese country code for its phone number, which could indicate operational complexities or reporting inconsistencies.

Key Dates

• 2023-12-31: Fiscal Year End — The end date of the reporting period for the 10-K filing.
• 2024-03-29: Filing Date — The date the 10-K report was officially submitted to the SEC.

Key Financial Figures

• $0.46 — s (based upon the closing sale price of $0.46 per share) was approximately $ 50,600 .
• $1,969,094 — a on April 11, 2023. Our revenues were $1,969,094 and $590,306 for the years ended Decemb
• $590,306 — 2023. Our revenues were $1,969,094 and $590,306 for the years ended December 31, 2023 a
• $289,666 — nd 2022, respectively. Our net loss was $289,666 and $1,010,923 for the respective perio
• $1,010,923 — ectively. Our net loss was $289,666 and $1,010,923 for the respective periods. These condi

Filing Documents

• tancheng_i10k-123123.htm (10-K) — 756KB
• tancheng_ex0401.htm (EX-4.1) — 19KB
• tancheng_ex3101.htm (EX-31.1) — 7KB
• tancheng_ex3102.htm (EX-31.2) — 7KB
• tancheng_ex3201.htm (EX-32.1) — 5KB
• tancheng_ex3202.htm (EX-32.2) — 5KB
• image_001.jpg (GRAPHIC) — 30KB
• image_002.jpg (GRAPHIC) — 32KB
• image_003.jpg (GRAPHIC) — 15KB
• image_004.jpg (GRAPHIC) — 46KB
• image_005.jpg (GRAPHIC) — 15KB
• 0001683168-24-001846.txt (&nbsp;) — 3777KB
• qsjc-20231231.xsd (EX-101.SCH) — 31KB
• qsjc-20231231_cal.xml (EX-101.CAL) — 39KB
• qsjc-20231231_def.xml (EX-101.DEF) — 87KB
• qsjc-20231231_lab.xml (EX-101.LAB) — 224KB
• qsjc-20231231_pre.xml (EX-101.PRE) — 202KB
• tancheng_i10k-123123_htm.xml (XML) — 329KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 8 Item 1B. Unresolved Staff Comments 24 Item 1C Cybersecurity 24 Item 2.

Properties

Properties 25 Item 3.

Legal Proceedings

Legal Proceedings 25 Item 4. Mine Safety Disclosures 25 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 26 Item 6. [Reserved] 26 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 26 Item 7A.

Quantitative And Qualitative Disclosures About Market Risk

Quantitative And Qualitative Disclosures About Market Risk 31 Item 8.

Financial Statements And Supplementary Data

Financial Statements And Supplementary Data 31 Item 9. Changes In And Disagreements With Accountants On Accounting And Financial Disclosure 32 Item 9A.

Controls And Procedures

Controls And Procedures 32 Item 9B. Other Information 34 Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 34 PART III Item 10. Directors, Executive Officers And Corporate Governance 35 Item 11.

Executive Compensation

Executive Compensation 38 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 39 Item 13. Certain Relationships And Related Transactions, And Director Independence 40 Item 14. Principal Accounting Fees And Services 42 PART IV Item 15. Exhibits, Financial Statement Schedules 43 Item 16. Form 10-K Summary 44 i INTRODUCTORY NOTE Special Note Regarding Forward Looking Statements historical or current facts are "forward-looking statements" made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 (the "Act") and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified by the use of terms such as "may", "will", "expect", "believe", "anticipate", "estimate", "approximate" or "continue", or the negative thereof. We intend that such forward-looking in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events. Financial information contained in this report and in our financial statements is stated in United States dollars and are prepared in accordance with United States generally accepted accounting principles. Use of Certain Defined Terms In addition, unless the context otherwise requires and fo

BUSINESS

ITEM 1. BUSINESS. Tancheng Group Co., Ltd. (formerly Bigeon), or Tancheng Group, was incorporated under the laws of Nevada on June 19, 2018. It remained a shell company until the completion of acquiring Qiansui International Group Limited, a Cayman Islands exempted company ("Qiansui International"), and Qiansui International's subsidiaries on March 20, 2023, pursuant to a contribution agreement (the "Contribution Agreement") entered into by and among Tancheng Group, and holders of 100% of the outstanding ordinary shares of Qiansui International who also held 79.9% of Tancheng Group's outstanding common stock then (the "Contributors"). In accordance with the Contribution Agreement, the Contributors contributed all of their interests in Qiansui International to Tancheng Group (the "Contribution"). Qiansui International was incorporated in the Cayman Islands on June 7, 2022. Qiansui (Hong Kong) Holdings Limited ("Qiansui HK") was incorporated on July 21, 2022 in the Hong Kong SAR. Qiansui HK wholly owns Shanxi Qiansui Tancheng Culture Consulting Co., Ltd. ("Qiansui Consulting") which was established on December 12, 2022 in the PRC. Qiansui Consulting is a wholly owned foreign entity, or WFOE, under PRC law. Qiansui Consulting wholly owns Shanxi Qiansui Tancheng Culture Media Co., Ltd. ("Qiansui Media"), which was established on June 14, 2017 in the PRC. Qiansui Consulting acquired Qiansui Media on December 28, 2022. Qiansui HK and Qiansui Consulting are intermediary holding companies. Qiansui International conducts its operations through Qiansui Media. Following the consummation of the Contribution, our company, through its wholly owned PRC subsidiary Qiansui Media, has been engaged in the business of selling ornament and adornment products related to "Jue Cheng" culture and creating cultural tourism programs. Located in close proximity to PangQuanGou National Nature Reserve in Jiaocheng County, Shanxi Province, China, Qiansui Media has leveraged the rich heritage

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View this 10-K filing on SEC EDGAR