Company: QSJC
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001683168-25-001892
Chunk: 641

Company: TANCHENG GROUP CO., LTD.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 9A
Chunk 641
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 as follows:

Amounts due from a related party:

    As of December 31, 

     2024  
     2023 
  
    Shanxi Xiliu Catering Management Co., Ltd 
    $–  
    $1,695,750 

Amounts due from Shanxi Xiliu Catering Management
Co., Ltd represents business advances for operational purposes. The balance is unsecured, non-interest bearing and repayable on demand.
On June 30, 2024, the Company, Shanxi Xiliu and Jiaocheng Xinmu made an arrangement to legally offset the Company’s receivable from
Shanxi Xiliu with the payable to Jiaocheng Xinmu in the amount of $1,695,750 (the “Netting Arrangement”). The amount due from Shanxi
Xiliu was fully settled after the Netting Arrangement.

Amounts due to related parties:

    As of December 31, 

    2024  
    2023 
  
    Yu Yang 
    (a) 
    $441,151  
    $278,303 
  
    Jiaocheng Xinmu Trade Co., Ltd 
    (b) 
     2,346,889  
     4,109,535 
  
    Taiyuan Tuohang Logistics Co., Ltd 
    (c) 
     117,324  
     – 

    $2,905,364  
    $4,387,838 

    (a)
    Amounts due to Yu Yang represent payments made to vendors on behalf of the Company for operational purposes. During the years ended December 31, 2024 and 2023, apart from the exchange differences arising from the translation of RMB balances into U.S. dollar at year-end exchange rates, Yu Yang had paid the operation and administration expenses on behalf of the Company in an aggregate amount of $162,970 and $258,311, respectively

    (b)
    Amounts due to Jiaocheng Xinmu Trade Co., Ltd represent advances made to the Company for operational purposes. From time to time during the year ended December 31, 2023, apart from the exchange differences arising from the translation of RMB balances into U.S. dollar at year-end exchange rates, Jiaocheng Xinmu made advance to the Company amounting to a total of $1,035,090 and