Company: QSJC
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001683168-25-001892
Chunk: 599

Company: TANCHENG GROUP CO., LTD.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 8
Chunk 599
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 from Shanxi
Xiliu was fully settled after the Netting Arrangement.

Amounts due to related parties:

    Schedule of 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 the Company had repaid $273,077
    to Jiaocheng Xinmu. During the year ended December 31, 2024, there was no
    advance or repayment made between the Company and Jiaocheng Xinmu. On June 30, 2024, the Company, Shanxi Xiliu and Jiaocheng Xinmu
    made the Netting Arrangement to offset the related party receivable and payable balances. The amount due to Jiaocheng Xinmu
    was reduced to $2,346,889
    after the Netting Arrangement.

    (c)
    Amounts due to Taiyuan Tuohang Logistics Co., Ltd represent payments made on behalf of the Company for operational purposes.

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