Company: QSJC
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001683168-25-001892
Chunk: 18

Company: TANCHENG GROUP CO., LTD.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1
Chunk 18
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 in January 2008 and its implementing rules that became effective in September 2008 and was amended in July 2013,
employers are subject to stricter requirements in terms of signing labor contracts, minimum wages, paying remuneration, determining the
term of employees’ probation and unilaterally terminating labor contracts.

Under the Social Insurance Law of the PRC, all
employees are required to participate in basic pension insurance, basic medical insurance schemes and unemployment insurance, which must
be contributed by both the employers and the employees. All employees are required to participate in work-related injury insurance and
maternity insurance schemes, which must be contributed by the employers. Employers are required to complete registrations with local social
insurance authorities. Moreover, the employers must timely make all social insurance contributions. Only 13 of Qiansui Media’s 17
employees participate in the basic pension insurance, basic medical insurance, unemployment insurance, work-related injury insurance and
maternity insurance schemes.

Pursuant to PRC regulations on the Housing Provident
Fund, enterprises are required to register with the competent administrative centers of housing provident fund and open bank accounts
for housing provident funds for their employees. Employers are also required to timely pay all housing fund contributions for their employees.
Qiansui Media has not made any housing fund contributions for any of the 17 employees.

As of the date of this report, we are not aware
of any action, claim, investigation or penalties being conducted or threatened by any government authorities. However, if Qiansui Media
is fined or otherwise penalized by government authorities due to its failure to adequately pay social insurance and housing provident
fund contributions for its employees, its financial condition may be negatively impacted.

The recent joint statement by the SEC, and
an act passed by the U.S. Senate and the U.S. House of Representatives, all call for additional and more stringent criteria to be applied
to U.S.-listed companies with significant operations in China. These developments could add uncertainties to our continued trading on
the OTC markets, future offerings, business operations, share price and reputation.

U.S. public companies that have substantially
all of their operations in China have been the subject of intense scrutiny, criticism and negative publicity by investors, financial commentators
and regulatory agencies, such as the SEC. Much of the scrutiny, criticism and negative publicity has centered on financial and accounting
irregularities and mistakes, a lack of effective internal controls over financial accounting, inadequate corporate governance policies
or a