Company: QSJC
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001683168-25-006089
Chunk: 40

Company: TANCHENG GROUP CO., LTD.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 40
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     109,822  
     67%  
     –  
     –% 

    $109,822  
     67%  
    $120,051  
     76% 

Details of supplier who accounted for 10% or more
of the Company’s total purchase for the three and six months ended June 30, 2025 and 2024 are as follows:

    Schedule of purchase concentration 

    For the three months ended June 30, 

    2025  
    2024 

     Amount  
     % of total purchase  
     Amount  
     % of total purchase 
  
    Supplier A 
    $17,654  
     100%  
    $–  
     –% 

    For the six months ended June 30, 

    2025  
    2024 

     Amount  
     % of total purchase  
     Amount  
     % of total purchase 
  
    Supplier A 
    $168,642  
     100%  
    $122,338  
     100.0% 

(n) Recent Accounting Pronouncements

In October 2021, the FASB issued ASU No. 2021-08,
“Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers”
(“ASU 2021-08”). This ASU requires entities to apply Topic 606 to recognize and measure contract assets and contract
liabilities in a business combination. The amendments improve comparability after the business combination by providing consistent recognition
and measurement guidance for revenue contracts with customers acquired in a business combination and revenue contracts with customers
not acquired in a business combination. The amendments are effective for the Company beginning after December 15, 2023, and are applied
prospectively to business combinations that occur after the effective date. The adoption of this guidance did not have a material impact
on the Company’s condensed consolidated financial statements.

     11 

In November 2023, the Financial Accounting Standards
Board (“FASB”) issued ASU 2023-07, Improvements to Reportable Segment Disclosures (Topic 280). This ASU updates reportable
segment disclosure requirements by requiring disclosures of significant reportable segment expenses that are regularly provided to the
Chief Operating Decision