Company: QSJC
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001683168-25-008383
Chunk: 46

Company: TANCHENG GROUP CO., LTD.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 46
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 expire before the Company is able to realize their benefits or that future deductibility is uncertain.

As of September 30, 2025 and December 31, 2024, the
Company’s deferred tax assets solely represent the tax loss carried forward using the PRC statutory rate of 25%. As management of
the Company believes that it is more likely than not that the benefit from the tax loss carried forwards will not be realized, the Company
recorded a full valuation allowance for all the reporting periods. There were no deferred tax liabilities as of September 30, 2025 and
December 31, 2024.

(b)  Value Added Tax (“VAT”)

The Company was subject to the standard VAT rate of
13% for the three and nine months ended September 30, 2025 and 2024.

    6.
    RELATED PARTIES TRANSACTIONS

The table below sets forth the related parties and
their relationships with the Company as of September 30, 2025 and December 31, 2024:

    Name of related parties
     
    Relationship with the Company
  
    Yu Yang (“Mr. Yang”)
     
    Controlling shareholder
  
    Jiaocheng Xinmu Trade Co., Ltd (“Jiaocheng Xinmu”)
     
    Controlled by Mr. Yang
  
    All Weather (Hainan) Network Sports Co., Ltd (“All Weather”)
     
    Controlled by Mr. Yang
  
    Taiyuan Tuohang Logistics Co., Ltd (“Taiyuan Tuohang”)
     
    Controlled by Mr. Yang
  
    Shanxi Xiliu Catering Management Co., Ltd (“Shanxi Xiliu”)
     
    Controlled by Mr. Yang

The related party balances and transactions are as
follows:

Amounts due to related parties:

    Schedule of amounts due to related parties

    September 30, 2025

    December 31, 2024

    Yu Yang
     
    (a)
     
    $
    582,992

    $
    441,151

    Jiaocheng Xinmu Trade Co., Ltd
     
    (b)

    2,449,337

    2,346,889

    Taiyuan Tuohang Logistics Co., Ltd 
     
    (c)

    236,106

    117,324

    $
    3,268,435

    $