Company: QSJC
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001683168-25-001892
Chunk: 359

Company: TANCHENG GROUP CO., LTD.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 4
Chunk 359
---
969,094
were generated from third parties, respectively; and $334,254 and $ nil were generated from a related party (see Note 7), respectively.

Details of customer who accounted for 10% or more
of the Company’s total revenue for the years ended December 31, 2024 and 2023 are as follows:

    Schedule of revenue concentration 

    For the years ended December 31, 

    2024  
    2023 

    Amount  
    % of total 
revenue  
    Amount  
    % of total 
revenue 
  
    Customer A 
    $–  
     -%  
    $214,114  
     10.9% 
  
    Customer B 
     74,727  
     14.9%  
     100,728  
     5.1% 
  
    Customer C 
     334,254  
     66.5%  
     –  
     -% 

    $408,981  
     81.4%  
    $314,842  
     16.0% 

Details of supplier who accounted for 10% or more
of the Company’s total purchase for the years ended December 31, 2024 and 2023 are as follows:

    Schedule of  purchase concentration 

    For the years ended December 31, 

    2024  
    2023 

     Amount  
     % of total
 purchase  
     Amount  
     % of total
 purchase 
  
    Supplier A 
    $444,641  
     100.0%  
    $2,395,315  
     99.6% 

(n) Recent Accounting Pronouncements

In June 2016, the FASB issued ASU No. 2016-13,
Financial Instruments – Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments. This standard requires
a financial asset (or group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected.
The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present
the net carrying value at the amount expected to be collected on the financial asset. The Company has adopted this standard on January