Company: QSJC
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001683168-25-001892
Chunk: 89

Company: TANCHENG GROUP CO., LTD.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1A
Chunk 89
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 any of these non-PRC jurisdictions in relation to any matter not subject to a binding arbitration provision may be difficult or impossible.

The PRC government has increasingly strengthened
oversight in offerings conducted overseas or on foreign investment in China-based issuers, which could result in a material change in
our operations and our common stock could decline in value or become worthless.

The PRC government has recently indicated an intent
to take actions to exert more oversight and control over offerings that are conducted overseas and/or foreign investment in China-based
issuers. For example, on July 6, 2021, the relevant PRC government authorities made public the Opinions on Strictly Scrutinizing Illegal
Securities Activities in Accordance with the Law, or the Opinions. These Opinions emphasized the need to strengthen the administration
over illegal securities activities and the supervision of overseas listings by China-based companies and proposed to take effective measures,
such as promoting the construction of relevant regulatory systems to deal with the risks and incidents faced by China-based overseas-listed
companies.

On December 24, 2021, the CSRC issued the Provisions
of the State Council on the Administration of Overseas Securities Offering and Listing by Domestic Companies (Draft for Comments) and
the Administrative Measures for the Filing of Overseas Securities Offering and Listing by Domestic Companies (Draft for Comments), collectively
the Draft Overseas Listing Regulations, for public comment until January 23, 2022.

 10 

Following issuance of the Draft Overseas Listing
Regulations, on February 17, 2023, the CSRC issued the Notice on Filing Arrangements for Overseas Securities Offering and Listing by Domestic
Companies (the “CSRC Filing Notice”), stating that the CSRC has published the Trial Administrative Measures of Overseas Securities
Offering and Listing by Domestic Companies (the “Trial Measures”) and five supporting guidelines (the “Listing Guidelines”),
collectively the Trial Measures and Listing Guidelines. Among others, the Trial Measures and Listing Guidelines provide that overseas
offerings and listings by PRC domestic companies shall:

    (i)
    require submission of relevant materials that contain a filing report and a legal opinion, providing truthful, accurate and complete information on matters including but not limited to the shareholders of the issuer. Where the filing documents are complete and in compliance with stipulated requirements, the CSRC shall, within 20 working days after receipt of filing documents, conclude the filing procedure and publish filing results on the CSRC website.