Cordyceps Sunshine Biotech Files 2023 Annual Report

TL;DR

Cordyceps Sunshine Biotech dropped its 2023 20-F annual report. Check financials.

AI Summary

Cordyceps Sunshine Biotech Holdings Co., Ltd. filed its annual report on Form 20-F for the fiscal year ended December 31, 2023. The company, incorporated in the Cayman Islands and operating in the medicinal chemicals and botanical products sector, is headquartered in Taipei City, Taiwan. This filing serves as their annual report under the Securities Exchange Act of 1934.

Why It Matters

This 20-F filing provides investors with a comprehensive overview of Cordyceps Sunshine Biotech's financial performance and business operations for the fiscal year 2023, crucial for understanding the company's current standing and future prospects.

Risk Assessment

Risk Level: medium — As a 20-F filing, it represents an annual report for a foreign private issuer, which may involve different regulatory oversight and disclosure standards compared to domestic US companies.

Key Numbers

• 2023 — Fiscal Year End (The period covered by the annual report.)
• 1231 — Fiscal Year End Date (Specific date for the end of the fiscal year.)

Key Players & Entities

• Cordyceps Sunshine Biotech Holdings Co., Ltd. (company) — Filer of the 20-F report
• 2023 (date) — Fiscal year end for the report
• December 31 (date) — Specific end date of the fiscal year
• Cayman Islands (location) — Jurisdiction of incorporation
• Taipei City (location) — Business and mailing address city
• 886-2-27489091 (phone_number) — Business phone number
• 333-269315 (document_id) — SEC file number

FAQ

Filing Documents

• ea0207880-20f_cordyceps.htm (20-F) — 1204KB
• ea020788001ex2-1_cordyceps.htm (EX-2.1) — 16KB
• ea020788001ex4-4_cordyceps.htm (EX-4.4) — 16KB
• ea020788001ex4-5_cordyceps.htm (EX-4.5) — 13KB
• ea020788001ex4-6_cordyceps.htm (EX-4.6) — 12KB
• ea020788001ex4-7_cordyceps.htm (EX-4.7) — 18KB
• ea020788001ex8-1_cordyceps.htm (EX-8.1) — 2KB
• ea020788001ex11-2_cordyceps.htm (EX-11.2) — 42KB
• ea020788001ex12-1_cordyceps.htm (EX-12.1) — 10KB
• ea020788001ex12-2_cordyceps.htm (EX-12.2) — 10KB
• ea020788001ex13-1_cordyceps.htm (EX-13.1) — 4KB
• ea020788001ex13-2_cordyceps.htm (EX-13.2) — 4KB
• ea020788001ex23-1_cordyceps.htm (EX-23.1) — 4KB
• ea020788001ex97-1_cordyceps.htm (EX-97.1) — 34KB
• image_001.jpg (GRAPHIC) — 17KB
• image_002.jpg (GRAPHIC) — 33KB
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• image_015.jpg (GRAPHIC) — 12KB
• image_016.jpg (GRAPHIC) — 48KB
• ex23-1_001.jpg (GRAPHIC) — 48KB
• 0001213900-24-059406.txt ( ) — 6147KB
• cik1885680-20231231.xsd (EX-101.SCH) — 49KB
• cik1885680-20231231_cal.xml (EX-101.CAL) — 49KB
• cik1885680-20231231_def.xml (EX-101.DEF) — 235KB
• cik1885680-20231231_lab.xml (EX-101.LAB) — 387KB
• cik1885680-20231231_pre.xml (EX-101.PRE) — 226KB
• ea0207880-20f_cordyceps_htm.xml (XML) — 442KB

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Securities Exchange Act of 1934). Yes No (APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS) Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes No Table of Contents Page PART I Item 1. Identity of Directors, Senior Management and Advisers 1 Item 2. Offer Statistics and Expected Timetable 1 Item 3. Key Information 1 Item 4. Information on the Company 10 Item 4A. Unresolved Staff Comments 32 Item 5. Operating and Financial Review and Prospects 32 Item 6. Directors, Senior Management and Employees 38 Item 7. Major Shareholders and Related Party Transactions 41 Item 8. Financial Information 41 Item 9. The Offer and Listing 42 Item 10. Additional Information 42 Item 11.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 52 Item 12.

Description of Securities Other than Equity Securities

Description of Securities Other than Equity Securities 53 PART II Item 13. Defaults, Dividend Arrearages and Delinquencies 54 Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 54 Item 15.

Controls and Procedures

Controls and Procedures 54 Item 16. [Reserved] 55 Item 16A. Audit Committee Financial Expert 55 Item 16B. Code of Ethics 55 Item 16C. Principal Accountant Fees and Services 55 Item 16D. Exemptions from the Listing Standards for Audit Committees 56 Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers 56 Item 16F. Change in Registrant's Certifying Accountant 56 Item 16G. Corporate Governance 57 Item 16H. Mine Safety Disclosure 57 Item 16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 57 Item 16J. Insider Trading Policies 57 Item 16K. Cybersecurity 57 PART III Item 17.

Financial Statements

Financial Statements 58 Item 18.

Financial Statements

Financial Statements 58 Item 19. Exhibits 58 i INTRODUCTION Professional terms in the annual report are defined as follows: "Cattle camphor mushroom" also known as Antrodia Cinnamomum, or Taiwanofungus, is a species of fungus indigenous to Taiwan, which grows on the endemic aromatic tree Cinnamomum kanehirae, causing a brown heart rot. "Cordyceps" is a fungus that lives on certain caterpillars and is usually formed by stipe (defined below) and stroma (defined below) "Cordycepin" shall refer to a compound which is extracted from Cordyceps. "Deep processing" shall refer to the processing of Cordyceps as raw material into finished Chinese medicinal material products or other Cordyceps products that can be consumed by customers. "Hyphae" shall refer to a long, branched filamentous structure in filamentous fungi. It is the structural unit of most fungi, which refers to the description of the state of fungi in the process of spread. "Mycelium" means a large number of hyphae filling with a carrier. ""R.O.C." or "Taiwan" refers to Taiwan, the Republic of China. "Stipe" means the grass body part of Cordyceps. "Stroma" means the caterpillar body part of Cordyceps. Cattle camphor mushroom ii Our business is conducted by Cordyceps Sunshine Taiwan Branch, our operating branch in Taiwan, using NTD, the currency of Taiwan, R.O.C. Our consolidated financial statements are presented in United States dollars. In this annual report, we refer to assets, obligations, commitments, and liabilities in our consolidated financial statements in United States dollars. These dollar references are based on the exchange rate of NTD to United States dollars, determined as of a specific date or for a specific period. Changes in the exchange rate will affect the amount of our obligations and the value of our assets in terms of United States dollars which may result in an increase or decrease in the amount of our obligations (expressed in dollars) and the value of

View Full Filing

View this 20-F filing on SEC EDGAR