Company: QSJC
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001683168-25-003492
Chunk: 8

Company: TANCHENG GROUP CO., LTD.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 2
Chunk 8
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 financial statements.

In March 2024, the FASB issued ASU 2024-02,
“Codification Improvements — Amendments to Remove References to the Concept Statements” (“ASU 2024-02”).
ASU 2024-02 contains amendments to the FASB Accounting Standards Codification that remove references to various FASB Concepts Statements.
In most instances, the references are extraneous and not required to understand or apply the guidance. In other instances, the references
were used in prior Statements to provide guidance in certain topical areas. ASU 2024-02 is effective for fiscal years beginning
after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the adoption of this guidance whether or
not a material impact on the Company’s condensed consolidated financial statements.

The Company has considered all other recently
issued accounting pronouncements and does not believe the adoption of such pronouncements will have a material impact on its condensed
consolidated financial statements.

ITEM 3. QUANTITATIVE
AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Not applicable.

ITEM 4. CONTROLS
AND PROCEDURES.

Evaluation of Disclosure
Controls and Procedures

Our management is responsible
for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e)) under the Exchange Act)
that is designed to ensure that information required to be disclosed by the Company in the reports that we file or submit under the Exchange
Act is recorded, processed, summarized and reported, within the time specified in the Commission’s rules and forms. Disclosure controls
and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an
issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management,
including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions,
as appropriate to allow timely decisions regarding required disclosure.

Pursuant to Rule 13a-15(b)
under the Exchange Act, the Company carried out an evaluation with the participation of the Company’s management, including the
Company’s chief executive officer (“CEO”) and the Company’s chief financial officer (“CFO”), of the
effectiveness of the Company’s disclosure controls and procedures (as defined under Rule 13a-15(e) under the Exchange Act) as of
March 31, 2025. Based