Company: QSJC
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001683168-25-001892
Chunk: 346

Company: TANCHENG GROUP CO., LTD.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 4
Chunk 346
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31, 2024 and 2023
    F-3
  
    Consolidated Statements of Changes in Deficit for the years ended December 31, 2024 and 2023
    F-4
  
    Consolidated Statements of Cash Flows for the years ended December 31, 2024 and 2023
    F-5
  
    Notes to Consolidated Financial Statements for the years ended December 31, 2024 and 2023
    F-6 – F-14

 31 

REPORT OF INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM

To the
Board of Directors and Stockholders of Tancheng Group Co., Ltd.:

Opinion
on the Financial Statements

We have
audited the accompanying consolidated balance sheets of Tancheng Group Co., Ltd. together with its subsidiaries (“the Company”)
as of December 31, 2024 and 2023, and related consolidated statements of operations and comprehensive loss, changes in deficit, and cash
flows, for each of the two years in the period ended December 31, 2024, and the related notes (collectively referred to as the “financial
statements”). In our opinion, the financial statements present fairly, in all material respects, the financial positions of the
Company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the two years in the period
ended December 31, 2024, in conformity with accounting principles generally accepted in the United States of America.

Going
concern uncertainty

The accompanying
financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the financial
statements, the Company incurred loss of $288,160 and had net cash used in operating activities of $586,597 for the year ended December
31, 2024. As of December 31, 2024, the Company had net current liability of $1,550,909 and an accumulated deficit of $1,701,386 that
raise substantial doubt about its ability to continue as a going concern. Management’s plans in regard to these matters are also
described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Basis
for Opinion

These financial
statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s