Company: QSJC
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001683168-25-001892
Chunk: 15

Company: TANCHENG GROUP CO., LTD.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1
Chunk 15
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. The determination as to whether or not an overseas
offering and listing by PRC domestic companies is indirect shall be made on a ‘substance over form’ basis; the Listing Guidelines
further stipulate that if an issuer not satisfying Condition I submits an application for issuance and listing in overseas markets in
accordance with relevant non-PRC issuance regulations requiring such issuer to disclose risk factors mainly related to the PRC, the securities
firm(s) and the issuer’s PRC counsel should follow the principle of ‘substance over form’ in order to identify and argue
whether the issuer should complete a filing under the Trial Measures. Subsequent securities offerings of an issuer in (i) the same overseas
market where it has previously offered and listed securities, and (ii) an overseas market other than one where the issuer has previously
offered and listed securities shall be filed with the CSRC within three working days after offerings are completed. Additionally, the
Trial Measures stipulate that after an issuer has offered and listed securities in an overseas market, the issuer shall submit a report
to the CSRC within three working days after the occurrence and public disclosure of (i) a change of control thereof, (ii) investigations
of or sanctions imposed on the issuer by overseas securities regulators or relevant competent authorities, (iii) changes of listing status
or transfers of listing segment, and (iv) a voluntary or mandatory delisting.  

 11 

The CSRC Filing Notice states that, beginning
from March 31, 2023, PRC domestic enterprises which have already issued and listed securities overseas and fall within the scope of filing
under the Trial Measures shall be considered “existing enterprises” (“Existing Listed Enterprises”). Existing
Listed Enterprises are not required to complete filings immediately; rather, Existing Listed Enterprises should complete filings if they
are subsequently involved in matters require filings, such as follow-on financing activities, in accordance with the Trial Measures.

There is a possibility that we may be deemed as
an Existing Listed Enterprise as defined under the CSRC Filing Notice, and that future offerings of listed securities or listings outside
China by us may be subject to CSRC filing requirements in accordance with the Trial Measures.

On February 24, 2023, the CSRC, together with
the Ministry of Finance, National Administration of State Secrets Protection and National Archives Administration of China, revised the
Provisions on Strengthening Confidentiality and Archives Administration for Overseas Securities Offering and Listing, which were