Company: QSJC
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001683168-25-001892
Chunk: 106

Company: TANCHENG GROUP CO., LTD.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1A
Chunk 106
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 individuals
to obtain the approval of the CSRC, prior to the listing and trading of such special purpose vehicle’s securities on an overseas
stock exchange. On September 21, 2006, the CSRC published on its official website procedures regarding its approval of overseas listings
by special purpose vehicles. However, the interpretation and application of the regulations remain unclear, and the Contribution transaction
may ultimately require approval from the CSRC. If CSRC approval is required, it is uncertain whether it would be possible for us to obtain
the approval and any failure to obtain or delay in obtaining CSRC approval for the Contribution transaction would subject us to sanctions
imposed by the CSRC and other PRC regulatory agencies.

While we believe the CSRC approval is not required
in the context of the Contribution transaction, there remains some uncertainty as to how the M&A Rules will be interpreted or implemented
and its opinions summarized above are subject to any new laws, regulations and rules or detailed implementations and interpretations
in any form relating to the M&A Rules. We cannot assure you that relevant PRC governmental agencies, including the CSRC, would reach
the same conclusion as we do. If it is determined that CSRC approval is required for the Contribution transaction, we may face sanctions
by the CSRC or other PRC regulatory agencies for failure to seek CSRC approval for the Contribution transaction. These sanctions may
include fines and penalties on the Company’s operations in the PRC, limitations on the Company’s operating licenses in the
PRC, restrictions on or prohibition of the payments or remittance of dividends by our PRC subsidiaries to us or other actions that could
have a material and adverse effect on the Company’s business, financial condition, results of operations, reputation and prospects,
as well as the trading price of the common stock.

Risks
Related to Our Business and Industry

We have a limited operating history, which
may make it difficult to evaluate our business and prospects and may not be indicative of our future financial results.

Our business is primarily conducted by our wholly
owned subsidiary Qiansui Media. Qiansui Media was formed on June 14, 2017, under the PRC laws. Our revenues were $502,550 and $1,969,094
for the years ended December 31, 2024 and 2023, respectively. Our net loss was $288,160 and $289,666 for the respective periods. Our historical
financial results may not be indicative of our future financial results.