Company: QSJC
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001683168-25-001892
Chunk: 189

Company: TANCHENG GROUP CO., LTD.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1B
Chunk 189
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 31, 2024 and 2023, the Company’s
outstanding number of ordinary shares was 4,381,550.

The Company did not issue any shares during the
years ended December 31, 2024 and 2023.

    9.
    ADDITIONAL PAID IN CAPITAL

On August 18, 2022, the former President of the
Company, Olegas Tunevicius signed an Assignment, Assumption, and Indemnity Agreement to assume all liabilities and debts and obligations
of Bigeon as of the Closing date of the Stock Purchase Agreement (Note 1). As of the Closing date, total liabilities amounting to $146,114
was assigned to Mr. Tunevicius and the Company account for this transaction as a capital contribution and an increase of additional paid-in
capital from the original balance of $16,750 under shareholders’ equity. As of December 31, 2024 and 2023, the Company’s additional
paid in capital was $162,864.

    10.
    RESERVES

(a) Legal reserve

Pursuant to the laws applicable to the PRC’s
Foreign Investment Enterprises, the Company must make appropriations from after-tax profit to non-distributable reserve funds. Subject
to certain cumulative limits, the general reserve requires annual appropriations of 10% of after-tax profits as determined under the PRC
laws and regulations at each year-end until the balance reaches 50% of the PRC entity registered capital; the other reserve appropriations
are at the Company’s discretion. These reserves can only be used for specific purposes of enterprise expansion and are not distributable
as cash dividends. As of December 31, 2024 and 2023, the paid-up statutory reserve was $nil.

(b) Currency translation reserve

The currency translation reserve represents translation
differences arising from the translation of foreign currency financial statements into the Company’s reporting currency.

    11.
    COMMITMENTS AND CONTINGENCIES

As of December 31, 2024, the Company did not make
any contractual obligations or arrangements that required a provision or disclosure in these consolidated financial statements.

    12.
    SUBSEQUENT EVENTS

The Company
has evaluated subsequent events from December 31, 2024 to the date the consolidated financial statements were issued and has determined
that there are no items to disclose.

 F-14 

ITEM 9. CHANGES IN AND DISAGREEMENTS