Company: QSJC
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001683168-25-001892
Chunk: 340

Company: TANCHENG GROUP CO., LTD.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 4
Chunk 340
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 of Nevada on April 11, 2023.

Our revenues were $502,550 and $1,969,094 for
the years ended December 31, 2024 and 2023, respectively. Our net loss was $288,160 and $289,666 for the respective periods. These conditions
raise substantial doubt about our ability to continue as a going concern.

Results of Operations

Comparison for The Years Ended December
31, 2024 and 2023

The following table sets forth key components
of our results of operations during the years ended December 31, 2024 and 2023.

    2024  
    2023  
    (Decrease) 
Increase 
  
    Revenue 
    $502,550  
    $1,969,094  
    $(1,466,544)
  
    Cost of revenue 
     (365,606) 
     (1,608,247) 
     (1,242,641)
  
    Gross profit 
     136,944  
     360,847  
     (223,903)
  
    Selling and marketing expenses 
     (27,645) 
     (27,714) 
     (69)
  
    General and administrative expenses 
     (397,782) 
     (623,879) 
     (226,097)
  
    Loss from operations 
     (288,483) 
     (290,746) 
     (2,263)
  
    Other income 
     323  
     1,080  
     (757)
  
    Net loss 
    $(288,160) 
    $(289,666) 
    $(1,506)

Revenue

We generated $502,550 in revenue for the year
ended December 31, 2024 compared to $1,969,094 for the year ended December 31, 2023, representing a decrease in revenue of $1,466,544
or 74.5% compared to the fiscal year 2023. The decrease was mainly due to the decrease in product selling prices as we adjusted our price
downward to attract customers and the decrease in quantity sold by 81.9% from 8,001 pieces of ornament and adornment products sold during
the year ended December 31, 2023 to 1,446 pieces of ornament and adornment products sold