Company: QSJC
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001683168-25-001892
Chunk: 211

Company: TANCHENG GROUP CO., LTD.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1C
Chunk 211
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31, 

    2024  
    2023 
  
    Working capital: 

    Total current assets 
    $1,479,137  
    $3,376,985 
  
    Total current liabilities 
     (3,030,046) 
     (4,696,852)
  
    Working capital deficiency 
    $(1,550,909) 
    $(1,319,867)

Our principal sources of liquidity and capital
resources have been, and are expected to continue to be, cash flow from operations and cash advances from related parties. Our principal
uses of cash have been, and we expect will continue to be, for working capital to support a reasonable increase in our scale of operations.

Management has estimated our cash flow from future
operations and available support from related parties and has concluded that we have, or will have access to, sufficient financial resources
to meet our financial obligations as and when they fall due in the coming twelve months. There can be no assurances, however, that any
of the financial resources we may be contemplating as being available to us in the future will, in fact, be available to us on acceptable
terms, if at all. We believe there will be sufficient funds to run our operations for the next 12 months.

 28 

As of December 31, 2024, we had cash and cash
equivalents of $100,653. The following table provides detailed information about our net cash flows for the year ended December 31, 2024
and 2023:

    For the years ended December 31, 

    2024  
    2023 
  
    Cash flows: 

    Net cash used in operating activities 
    $(586,597) 
    $(635,037)
  
    Net cash used in investing activities 
     –  
     (143,231)
  
    Net cash provided by financing activities 
     281,985  
     1,122,536 
  
    Effect of exchange rate changes on cash and cash equivalents 
     (6,889) 
     (3,321)
  
    Net (decrease) increase in cash and cash equivalents 
     (311,501) 
     340,947 
  
    Cash and cash equivalents at the beginning of the year 
     412,154  
     71,207 
  
    Cash and cash equivalents at the end of the