Company: QSJC
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001683168-25-001892
Chunk: 258

Company: TANCHENG GROUP CO., LTD.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 2
Chunk 258
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Segment reporting (Topic 280): Improvements to Reportable Segment Disclosures” (ASU 2023-07). This ASU primarily requires
incremental disclosures of disaggregate expense information about a company’s reportable segments. The amendments are effective
for fiscal years beginning after December 15, 2023. The adoption of this guidance did not have a material impact on the Company’s
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 consolidated
financial statements.

 30 

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Not applicable.

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA. 

Index to Financial
Statements 

    Contents
     
    Page(s)
  
    Report of Independent Registered Public Accounting Firm
    F-1
  
    Consolidated Balance Sheets as of December 31, 2024 and 2023
    F-2
  
    Consolidated Statements of Operations and Comprehensive Loss for the years ended December 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,