Company: QSJC
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001683168-25-001892
Chunk: 627

Company: TANCHENG GROUP CO., LTD.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 9
Chunk 627
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 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.

 38 

Related party transactions:

During the years ended December 31, 2024 and 2023,
there were advances, payments and settlements made between the related parties and the Company as described above. In addition, during
the year ended December 31, 2024, the Company sold products to All Weather (Hainan) Network Sports Co., Ltd in aggregate amounts of $334,254.

Promoters and Certain Control Persons

We believe we did not have any promoters at any
time during the past five fiscal years.

Director Independence 

None of
our directors is an independent director according to the definition of independence under NASDAQ Listing Rule 5605(a)(2) and the standards
established by the SEC.

ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES.

Independent Registered Public Accounting Firm’s
Fees and Services 

The following table sets forth fees billed or
accrued by our independent registered public accountants for the fiscal years ended December 31, 2024 and 2023:

    For the years ended  December 31, 

    2024  
    2023 
  
    Audit Fees 
    $90,000  
    $78,000 
  
    Audit Related Fees 
     –  
     – 
  
    Tax Fees 
     –  
     – 
  
    All other fees 
     –  
     – 
  
    Total 
    $90,000  
    $78,000 

Audit Fees. Consists of fees billed for
professional services rendered for the audit of our financial statements and review of the interim financial statements included in quarterly
reports and