# EDGAR Filing Document

**Accession Number:** 0001594204
**File Stem:** 0001214659-26-004712
**Filing Date:** 2026-4
**Character Count:** 184134
**Document Hash:** 75090077d6b623ff73971d382c86e9f0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001214659-26-004712.hdr.sgml**: 20260416

**ACCESSION NUMBER**: 0001214659-26-004712

**CONFORMED SUBMISSION TYPE**: 10-K

**PUBLIC DOCUMENT COUNT**: 51

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260416

**DATE AS OF CHANGE**: 20260415

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ZHEN DING RESOURCES INC.
- **CENTRAL INDEX KEY:** 0001594204
- **STANDARD INDUSTRIAL CLASSIFICATION:** METAL MINING [1000]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 113350926
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-193211
- **FILM NUMBER:** 26865494

**BUSINESS ADDRESS:**
- **STREET 1:** 99 AVE DE LA MOSELLE
- **CITY:** SAINT LAMBERT
- **STATE:** A8
- **ZIP:** J45 1W9
- **BUSINESS PHONE:** (438) 376-5317

**MAIL ADDRESS:**
- **STREET 1:** 99 AVE DE LA MOSELLE
- **CITY:** SAINT LAMBERT
- **STATE:** A8
- **ZIP:** J45 1W9

?xml version='1.0' encoding='ASCII'?

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 10-K**

(Mark One)

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| | | |
|:---|:---|:---|
| ⌧ | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
| For the fiscal year ended | For the fiscal year ended | **December 31, 2025** |
| ◻ | TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
| For the transition period from | For the transition period from | [ ] to [ ] |
| Commission file number | Commission file number | **333-188152** |

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| |
|:---|
| **ZHEN DING RESOURCES INC.** |
| (Exact name of registrant as specified in its charter) |

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| | |
|:---|:---|
| **Delaware** | **11-3350926** |
| (State or other jurisdiction of incorporation or<br> organization) | (I.R.S. Employer Identification No.) |

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| | |
|:---|:---|
| **99 Ave De La Moselle, Saint-Lambert, Quebec, Canada** | **J4S 1W9** |
| (Address of principal executive offices) | (Zip Code) |
| Registrant's telephone number, including area code: | **(438) 376-5317** |

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Securities registered pursuant to Section 12(b) of the Act:

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| | |
|:---|:---|
| Title of Each Class | Name of Each Exchange On Which Registered |
| **N/A** | **N/A** |

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Securities registered pursuant to Section 12(g) of the Act:

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| |
|:---|
| **N/A** |
| (Title of class) |

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Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 the Securities Act.&nbsp;&nbsp;&nbsp;&nbsp;Yes ◻ No ⌧

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act&nbsp;&nbsp;&nbsp;&nbsp;Yes ◻ No ⌧

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the last 90 days.&nbsp;&nbsp;&nbsp;&nbsp;Yes ⌧ No ◻

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).&nbsp;&nbsp;&nbsp;&nbsp;Yes ◻ No ⌧

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.&nbsp;&nbsp;&nbsp;&nbsp;◻

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or, an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer", "smaller reporting company", and "emerging growth company", in Rule 12b-2 of the Exchange Act.

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| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ◻ | Accelerated filer | ◻ |
| Non-accelerated filer | ◻ | Smaller reporting company | ⌧ |
| | | Emerging growth company | ◻ |

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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting fi rm that prepared or issued its audit report).&nbsp;&nbsp;&nbsp;&nbsp; Yes ◻ No ⌧

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ◻

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).&nbsp;&nbsp;&nbsp;&nbsp; Yes ◻ No ⌧

The aggregate market value of Common Stock held by non-affiliates of the Registrant on June 30, 2025 was $0 based on a $0 average bid and asked price of such common equity, as of the last business day of the registrant's most recently completed second fiscal quarter.

Indicate the number of shares outstanding of each of the registrant's classes of common stock as of the latest practicable date.

<u>110,967,348 common shares as of April 15, 2026.</u>

DOCUMENTS INCORPORATED BY REFERENCE

None.

**TABLE OF CONTENTS**

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| | | |
|:---|:---|:---|
| Item 1. | [Business](#item1) | 4 |
| Item 1A. | [Risk Factors](#item1a) | 11 |
| Item 1B. | [Unresolved Staff Comments](#item1b) | 17 |
| Item 2. | [Properties](#item2) | 17 |
| Item 3. | [Legal Proceedings](#item3) | 22 |
| Item 4. | [Mine Safety Disclosures](#item4) | 22 |
| Item 5. | [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](#item5) | 22 |
| Item 6. | [Selected Financial Data](#item6) | 23 |
| Item 7. | [Management's Discussion and Analysis of Financial Condition and Results of Operations](#item7) | 23 |
| Item 7A. | [Quantitative and Qualitative Disclosures About Market Risk](#item7a) | 26 |
| Item 8. | [Financial Statements and Supplementary Data](#item8) | 26 |
| Item 9. | [Changes in and Disagreements With Accountants on Accounting and Financial Disclosure](#item9) | 38 |
| Item 9A. | [Controls and Procedures](#item9a) | 38 |
| Item 9B. | [Other Information](#item9b) | 39 |
| Item 10. | [Directors, Executive Officers and Corporate Governance](#item10) | 39 |
| Item 11. | [Executive Compensation](#item11) | 42 |
| Item 12. | [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](#item12) | 43 |
| Item 13. | [Certain Relationships and Related Transactions, and Director Independence](#item13) | 44 |
| Item 14. | [Principal Accounting Fees and Services](#item14) | 47 |
| Item 15. | [Exhibits, Financial Statement Schedules](#item15) | 48 |

---

[**Table of Contents**](#toc)

**PART I**

**Item 1.** **Business**

This annual report contains forward-looking statements. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, including the risks in the section entitled "Risk Factors" that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

Our financial statements are stated in United States Dollars (US$) and are prepared in accordance with United States Generally Accepted Accounting Principles.

In this annual report, unless otherwise specified, all dollar amounts are expressed in United States dollars and all references to "common shares" refer to the common shares in our capital stock.

As used in this current report and unless otherwise indicated, the terms "we", "us" and "our" mean Zhen Ding Resources Inc. and our subsidiaries, Z&W Zhen Ding Corporation and Zhen Ding Mining Co. Ltd., unless otherwise indicated.

**General Overview**

We are engaged in seeking business partnership opportunities and synergies with companies operating in China, and primarily those in the field of exploration and extraction of precious and/or base metals. We seek to provide prospective partners with management expertise, assistance with financing efforts in China and in North America, and to leverage our tangible assets, which include industrial land located in Anhui Province, China, where our mineral ore processing and concentration plant is located. .&nbsp;&nbsp;&nbsp;&nbsp;Our only operating company is Zhen Ding JV, which, has engaged in the processing of metal ore and the selling of ore concentrates of gold, silver, lead, zinc and copper at purity levels ranging from 65% to 80%. Zhen Ding JV purchased metal ore in rock form from its former joint venture partner, Xinzhou Gold, which held rights to explore and mine ore from a property located in the southwestern part of Anhui province in China.

*Corporate Background*

 

Our principal office is located at 99 Ave De La Moselle, Saint-Lambert, Quebec, Canada J4S 1W9. Our operational offices are located at: Zhen Ding Mining Co. Ltd., Wuxi County, Town of Langqiao, Jing Xian, Anhui Province, China, Tel: 86-6270-9018.

We were incorporated in September 1996 as Robotech Inc., and began our business in the development and marketing of specialized technological equipment. By 2003 we had not reached our financing goals and therefore abandoned our former business plan.

[**Table of Contents**](#toc)

In January 2012, our Board of Directors, following the approval of a majority of our shareholders, made an offer to the shareholders of Zhen Ding Resources Inc., a Nevada corporation ("Zhen Ding NV"), to acquire, at the very least, the majority of their common shares, and, if available, up to 100% ownership.

Zhen Ding NV through its wholly owned subsidiary, Z&W Zhen Ding Corporation, a California corporation ("Zhen Ding CA"), has been engaged in a joint venture with Jing Xian Xinzhou Gold Co., Ltd. ("Xinzhou Gold"), a company organized under the laws of the People's Republic of China ("PRC"). The joint venture company, Zhen Ding Mining Co. Ltd. ("Zhen Ding JV") is 70% held by Zhen Ding NV through Zhen Ding CA. It is a common practice in China to append the name of the town or city where an enterprise is located to its legally incorporated name. Therefore many documents referencing Zhen Ding JV may refer to it as Jing Xian Zhen Ding Mining Co. Ltd. Zhen Ding JV engages in the processing of metal ore and the selling of ore concentrates of gold, silver, lead, zinc and copper at purity levels ranging from 65% to 80%. Zhen Ding JV purchases metal ore in rock form from Xinzhou Gold.

On March 8, 2012, we changed our name from Robotech, Inc. to Zhen Ding Resources Inc., in anticipation of the acquisition of Zhen Ding NV. Our trading symbol, RBTK, however remained unchanged.

During 2012, a total of 50,746,358 shares of the issued and outstanding common stock of Zhen Ding NV were tendered to our company. On August 13, 2013, an additional 13,100,000 shares were tendered to us. Therefore, as of August 13, 2013 the shareholders of Zhen Ding NV had tendered 100% of the issued and outstanding shares of common stock, representing 100% of the issued and outstanding equity of Zhen Ding NV to us.

On October 23, 2013, we issued 122,440 shares of our common stock, on a one-for-one basis, to the tendering shareholders of Zhen Ding NV making Zhen Ding NV a wholly owned subsidiary of our company.

On October 28, 2013, we dissolved Zhen Ding NV by merging it with and into Zhen Ding DE. As a result, Zhen Ding CA became a wholly-owned subsidiary of Zhen Ding DE. Zhen Ding CA continues to exist as an intermediate holding company with no operations of its own, but which in turn owns our 70% interest in Zhen Ding JV.

[**Table of Contents**](#toc)

The following illustrates our corporate and share ownership structure:

![](zd32026310k_p6.jpg)

**Our Current Business**

Our joint venture, Zhen Ding JV, is equipped to process ore mined by our joint venture partner at the Wuxi Gold Mine, when in operation. Zhen Ding JV purchases the ore in rock form and processes the ore into our final product, which is a gold, silver, lead, zinc and copper ore concentrate. We estimate that our processed product is 65% to 80% pure. The product is then sold to refineries which further purify and separate the concentrate. Zhen Ding JV also arranges all exploration, mining process and operations, and financial and administrative support for the Wuxi Gold Mine.

We purchase all of the raw material for our ore processing operation from the Wuxi Gold Mine, and have relied solely on the Wuxi Gold Mine for our supply of ores. The veins most recently excavated by Xinzhou Gold in the permitted areas of the Wuxi Gold Mine are very low grade and, as such, the production is minimal. The higher yielding and therefore more profitable veins run outside the currently permitted mining area boundaries of the mine. Xinzhou Gold applied for an extension of the permitted mining area, however, the application was rejected by the government in December 2016 due to Xinzhou Gold's insufficient working capital. Xinzhou Gold's successor and our new joint venture partner, Mr. Wei de Gang, now controls the area permits. Although it remains possible to extend the permitted mining area, we have been unable to secure sufficient working capital to drill the extended area. If sufficient working capital does not become available, or should the application be denied on other grounds, we would not be able to secure another source with higher grade ores for our processing plant, which would severely limit our ability to execute our plan of operation and our potential profitability.

At the beginning of fiscal 2015, we idled our mineral processing plant due to an overall downturn in demand and market prices for our concentrates. This downturn coincided with an overall economic recession in China and downturn in the global commodities market during fiscal 2015 through 2016.

*Recent Activities*

On December 18, 2024, the Anhui Province Jing County People's Court approved the bankruptcy of our joint venture partner, Xinzhou Gold. The bankruptcy resulted from Xinzhou Gold's inability to repay expenses incurred by the Environmental Management Bureau of Anhui Province to rectify groundwater pollution emanating from the Wuxi Gold Mine. On January 23, 2025, per the bankruptcy agreement, Zhen Ding received RMB 963,654.22 from Xinzhou Gold in payment of ordinary debts. Zhen Ding was not aware of the bankruptcy until the payment was received in January 2025.

On February 28, 2025, Xinzhou Gold transferred its 30% share of our joint venture to Mr. Wei De Gang who is the principal and controlling shareholder of Xinzhou Gold. We are advised that the former business of Xinzhou Gold, as it relates to our joint venture, continues under the ownership of Mr. Wei De Gang, and the operation of our joint venture now continues under his 30% ownership. Therefore, the bankruptcy of our joint venture partner and subsequent transfer of shares in our joint venture did not result in the dissolution of our joint venture, or in a change of its control. All references to "Xinzhou Gold" contained in this report, as they pertain to any period after February 28, 2025, refer to the business of Xinzhou Gold operated and owned by Mr. Wei De Gang, not to Jing Xian Xinzhou Gold Co., Ltd.

[**Table of Contents**](#toc)

More recently, our joint venture is in preliminary discussions to cooperate with Xinan Environmental Protection (XEP), a state-owned enterprise, to develop a waste-to-energy power generation operation using the Wuxi Gold Mine Lands and our mineral processing infrastructure. However, the proposed collaboration is subject to obtaining satisfactory results from a feasibility study (which has been commissioned by XEP), the negotiation of satisfactory financial and other terms, and government approval.

**Competition**

The mining industry is intensely competitive. We compete for financing with numerous individuals and companies, including many major mining companies, which have substantially greater technical, financial, human, and operational resources. Accordingly, twe face a high degree of competition for access to finacning. There are other competitors twith operations in t the area of our processing facility, and the presence of these competitors adversely affects our ability to compete for financing,and to obtain the service providers, staff or equipment necessary for the exploration and exploitation of our properties.

**Compliance with Government Regulation**

The following summary discusses all regulations that materially affect the business of our Company.

**Chinese Regulations Affecting Our Company**

***Environmental Regulations***

We are subject to a variety of governmental regulations related to environmental protection. The major PRC environmental regulations applicable to us include the Environmental Protection Law and the Environmental Impact Appraisal Law.

The Environmental Protection Law sets out the legal framework for environmental protection in the PRC. The Ministry of Environmental Protection ("MEP") of the PRC is primarily responsible for the supervision and administration of environmental protection work nationwide and formulating national waste discharge limits and standards. Local environmental protection authorities at the county level and above are responsible for the environmental protection in their jurisdictions.

Companies that discharge contaminants must report and register with the MEP or the relevant local environment protection authorities. Companies discharging contaminants in excess of the discharge limits prescribed by the central or local authorities must pay discharge fees for the excess in accordance with applicable regulations and are also responsible for the treatment of the excessive discharge. Government authorities can impose different penalties on individuals or companies in violation of the Environmental Protection Law, depending on the individual circumstances of each case and the extent of contamination. Such penalties include warnings, fines, impositions of deadlines for remedying the contamination, orders to stop production or use, orders to re-install contamination prevention and treatment facilities which have been removed without permission or left unused, administrative actions against relevant responsible persons or companies, or orders to close down those enterprises. Where the violation is serious, the persons or companies responsible for the violation may be required to pay damages to victims of the contamination. Where serious environmental contamination occurs in violation of the provisions of the Environmental Protection Law which results in serious loss of public and private property, persons or enterprises directly responsible for such contamination may be held criminally liable.

***Restriction on Foreign Ownership***

The principal regulation governing foreign ownership of our business in the PRC is the Foreign Investment Industrial Guidance Catalogue, effective as of April 10, 2015 (the "Catalogue"). Investment activities in the PRC by foreign investors are principally governed by the Catalogue, which was promulgated and is amended from time to time by the Ministry of Commerce and the National Development and Reform Commission ("NDRC"). The Catalogue divides industries into three categories: encouraged, restricted and prohibited. Industries not listed in the Catalogue are generally deemed as constituting a fourth "permitted" category and open to foreign investment unless specifically restricted by other PRC regulations. Our Company, in consultation with its PRC legal advisor, the Guizhou Zhonggong Law Office, has determined that the business of Zhen Ding JV, ore processing, is not listed in the Catalogue or otherwise restricted by other PRC regulations. As a result, our business is deemed to be a "permitted" industry. This status has effectively been confirmed by the PRC State Administration for Industry and Commerce ("SAIC"), which has issued a business license for Zhen Ding JV, as a foreign invested joint venture, to engage in ore milling activities.

The NDRC and MOFCOM periodically jointly revise the Catalogue. As such, there is a possibility that our company's business may fall outside the scope of the definition of a permitted industry in the future. Should this occur, we would face a limit or restriction on foreign investment, the likes of which we are currently not subject to. However, based on our observation of past practices of the Chinese government, any new guidelines or changes to foreign ownership restrictions will likely be applied prospectively, and companies such as our Company with existing foreign investments are unlikely to be affected by such changes. Also, we are not aware of any reason why ore processing would in the future be considered a sensitive industry justifying its inclusion in the restricted or prohibited categories.

[**Table of Contents**](#toc)

***Draft Law on Foreign Investment***

In January 2015, MOFCOM issued a draft Law on Foreign Investment which is expected to be finalized in the near future without major changes. The draft Law on Foreign Investment would liberalize foreign investment in PRC businesses by reducing or eliminating the need for administrative approvals of the form of such investments, provided such investments do not involve investment in a restricted or prohibited industry. Because our Company is engaged in a permitted industry, and after consultation with our PRC counsel, we do not expect any adverse consequences resulting from the final passage of the Law on Foreign Investment.

***Regulation of Foreign Currency Exchange and Dividend Distribution***

*Foreign Currency Exchange*

The principal regulations governing foreign currency exchange in China are the Foreign Exchange Administration Regulations (1996), as amended, and the Administration Rules of the Settlement, Sale and Payment of Foreign Exchange (1996). Under these regulations, Renminbi are freely convertible for current account items, including the distribution of dividends, interest payments, trade and service-related foreign exchange transactions, but not for most capital account items, such as direct investment, loan, repatriation of investment and investment in securities outside China, unless the prior approval of SAFE or its local counterparts is obtained. In addition, any loans to an operating subsidiary in China that is a foreign invested enterprise, cannot, in the aggregate, exceed the difference between its respective approved total investment amount and its respective approved registered capital amount. Furthermore, any foreign loan must be registered with SAFE or its local counterparts for the loan to be effective. Any increase in the amount of the total investment and registered capital must be approved by MOFCOM or its local counterpart. We may not be able to obtain these government approvals or registrations on a timely basis, if at all, which could result in a delay in the process of making these loans.

The dividends paid by the subsidiary to its shareholder are deemed shareholder income and are taxable in China. Pursuant to the Administration Rules of the Settlement, Sale and Payment of Foreign Exchange (1996), foreign-invested enterprises in China may purchase or remit foreign exchange, subject to a cap approved by SAFE, for settlement of current account transactions without the approval of SAFE. Foreign exchange transactions under the capital account are still subject to limitations and require approvals from, or registration with, SAFE and other relevant PRC governmental authorities.

*Dividend Distribution*

The principal regulations governing the distribution of dividends by foreign holding companies include the Wholly Foreign Owned Enterprise Law (1986), as amended, and the Administrative Rules under the Wholly Foreign Owned Enterprise Law (1990), as amended.

Under these regulations, WFOEs in China may pay dividends only out of their retained profits, if any, determined in accordance with PRC accounting standards and regulations. In addition, WFOEs in China are required to allocate at least 10% of their respective retained profits each year, if any, to fund certain reserve funds unless these reserves have reached 50% of the registered capital of the enterprises. These reserves are not distributable as cash dividends.

***M&A Regulations and Overseas Listings***

On August 8, 2006, six PRC regulatory agencies, including the Ministry of Commerce, the State Assets Supervision and Administration Commission, the State Administration for Taxation, the State Administration for Industry and Commerce, CSRC and SAFE, jointly issued the Regulations on Mergers and Acquisitions of Domestic Enterprises by Foreign Investors, or the M&A Rules, which became effective on September 8, 2006 and were amended in 2009. This M&A Rules, among other things, include provisions that purport to require that an offshore special purpose vehicle formed for purposes of overseas listing of equity interests in PRC companies and controlled directly or indirectly by PRC companies or individuals obtain the approval of CSRC prior to the listing and trading of such special purpose vehicle's securities on an overseas stock exchange.

On September 21, 2006, CSRC published on its official website procedures regarding its approval of overseas listings by special purpose vehicles. The CSRC approval procedures require the filing of a number of documents with the CSRC and it would take several months to complete the approval process. The application of this new PRC regulation remains unclear with no consensus currently existing among leading PRC law firms regarding the scope of the applicability of the CSRC approval requirement.

[**Table of Contents**](#toc)

Our company is not an offshore special purpose vehicle under current PRC laws and regulations, as we currently control our Chinese operating entity through a joint venture arrangement which is permitted under Chinese regulations regarding foreign ownership. As a result, we are not required to obtain the approval of CSRC prior to the listing and trading of our securities on an overseas stock exchange.

Our company, in consultation with our PRC legal advisor, the Guizhou Zhonggong Law Office, has determined that we are not required to obtain PRC approvals and registrations in connection with the CSRC, SAFE, and SAIC for our joint venture arrangement under PRC regulations regarding foreign ownership, and that our company is not an offshore special purpose vehicle under PRC regulations.

This is the case because Zhen Ding JV was established as a joint venture enterprise in 2005 with the approval of the relevant PRC government agencies, with 70% of the joint venture owned by Zhen Ding CA, a California entity with foreign ownership, and 30% of the joint venture owned by Xinzhou Gold, a domestic PRC company. In connection with the formation of Zhen Ding JV, the Anhui Provincial People's Government issued a Certificate of Approval for Foreign Investment in China in 2005 and a business license was subsequently issued by the SAIC for the period from 2005 to 2025. In connection with the formation of Zhen Ding JV, Zhen Ding CA did not acquire any existing PRC domestic company or equity or assets, but rather established a new joint venture entity with foreign and domestic partners with funds contributed by Zhen Ding CA (70%) and Xinzhou Gold (30%). Zhen Ding CA did not acquire an interest in Xinzhou Gold, but rather established a new joint venture company with Xinzhou Gold as the other partner. Hence there was no acquisition of a PRC domestic company or assets that would implicate the relevant rules on foreign ownership.

The M&A Rules include provisions that purport to require that an offshore special purpose vehicle formed for the purpose of an overseas listing of securities in a PRC company obtain the approval of the CSRC prior to the listing and trading of such special purpose vehicle's securities on an overseas stock exchange. However, CSRC approval is not required in the context of the current offering covered by this Registration Statement because when our company acquired Zhen Ding CA, it acquired the previously established foreign ownership in a government approved joint venture and not an interest in a PRC domestic company. Accordingly, our Company is not an "offshore special purpose vehicle" and the relevant PRC agencies are not concerned with a change of ownership in a foreign owned joint venture partner.

Our company's PRC legal advisor, the Guizhou Zhonggong Law Office, also made inquiries with official representatives of each of the CSRC, SAFE, and SAIC and those official representatives all confirmed that there was no requirement for our company to obtain the approval of or register with such agency.

For the foregoing reasons, our company is not required to obtain PRC approvals and registrations in connection with the CSRC, SAFE, and SAIC for its joint venture arrangement under PRC regulations regarding foreign ownership.

***Regulations on Offshore Parent Holding Companies' Direct Investment in and Loans to Their PRC Subsidiaries***

An offshore company may invest equity in a PRC company, which will become the PRC subsidiary of the offshore holding company after investment. Such equity investment is subject to a series of laws and regulations generally applicable to any foreign-invested enterprise in China, which include the Wholly Foreign Owned Enterprise Law, the Sino-foreign Equity Joint Venture Enterprise Law, the Sino-foreign Contractual Joint Venture Enterprise Law, all as amended from time to time, and their respective implementing rules; the Tentative Provisions on the Foreign Exchange Registration Administration of Foreign-Invested Enterprise; and the Notice on Certain Matters Relating to the Change of Registered Capital of Foreign-Invested Enterprises.

Under the aforesaid laws and regulations, the increase of the registered capital of a foreign-invested enterprise is subject to the prior approval by the original approval authority of its establishment. In addition, the increase of registered capital and total investment amount shall both be registered with SAIC and SAFE.

Shareholder loans made by offshore parent holding companies to their PRC subsidiaries are regarded as foreign debts in China for regulatory purposes, which are subject to a number of PRC laws and regulations, including the PRC Foreign Exchange Administration Regulations, the Interim Measures on Administration on Foreign Debts, the Tentative Provisions on the Statistics Monitoring of Foreign Debts and its implementation rules, and the Administration Rules on the Settlement, Sale and Payment of Foreign Exchange.

Under these regulations, the shareholder loans made by offshore parent holding companies to their PRC subsidiaries shall be registered with SAFE. Furthermore, the total amount of foreign debts that can be borrowed by such PRC subsidiaries, including any shareholder loans, shall not exceed the difference between the total investment amount and the registered capital amount of the PRC subsidiaries, both of which are subject to the governmental approval.

[**Table of Contents**](#toc)

**U.S. Regulations Affecting Our Company**

***FCPA Policy***

The Foreign Corrupt Practices Act, or the FCPA, prohibits companies and individuals subject to FCPA jurisdiction from providing to foreign officials any "corrupt payments" (*i.e*., bribes, kickbacks, and similar benefits) in order to obtain any unfair advantage with respect to government contracts, regulatory approvals, licenses, and other government actions for the purpose of obtaining or retaining business. The FCPA applies to: (1) "issuers" – U.S. and foreign companies subject to SEC jurisdiction; (2) "domestic concerns" – individuals who are citizens, nationals or residents of the United States and companies with a principal place of business in the United States or organized under U.S. law; and (3) "other persons" – foreign companies or persons who act in the United States to further a corrupt payment. The term "other persons" has been interpreted broadly to include foreign entities that send an email in furtherance of a corrupt act to a U.S. recipient, or that clear a corrupt payment through a U.S. bank. The FCPA requires issuers to maintain accurate books and records that do not misrepresent their payments or expenses. Issuers are also liable for the accuracy of their majority-owned subsidiaries' books and records and are required to act in good faith to encourage their minority-owned subsidiaries to adopt reasonable internal accounting controls intended to avoid corrupt payments. Issuers, domestic concerns and other persons may be liable for the actions of their foreign subsidiaries and agents if they know or should know that a subsidiary or agent is likely to make a corrupt payment to a foreign official.

Issuers, domestic concerns and other persons subject to the FCPA are subject to severe criminal and civil penalties for violations of the FCPA. Entities that make corrupt payments may be fined as much as $2 million per violation, or twice the amount of the benefit sought in return for the payment. Individuals may be fined up to $100,000 and/or imprisoned for up to five years. Issuers who violate the FCPA's books and records requirements are subject to fines up to $25 million, and individuals can be fined up to $5 million and/or imprisoned for up to 20 years. Companies may not indemnify their officers or employees for FCPA violations.

**Research and Development**

We did not incur any research or development expenditures over the last two fiscal years.

**Intellectual Property**

We do not currently have any intellectual property, other than our domain name and website, www.zhendingresources.com.

**Employees**

Currently we have no paid employees. Our management team consists of our CEO and CFO and they currently do not receive compensation for their services. We intend to provide compensation to our CEO and CFO in the future and formalize their employment relationship with our company at that time.

None of the management employees have employee contracts.

Our company may from time to time hire paid consultants to assist it in achieving various goals. Currently, these include Mr. Victor Sun, who has served as a management and operations consultant since our inception, and Mr. Dai Honglin, who serves as Chief Engineer and general manager of our joint venture gold mining operations.

Due in part to his other business activities in Anhui, China, Mr. Sun currently assists our company by helping to co-ordinate certain business activities and functions between the company and Zhen Ding JV. Mr. Sun also assists our Principle Executive Officer to coordinate the company's professional advisors and the execution of day to day public reporting obligations.

Zhen Ding JV also recently employed Wei Dong Sun, a Professor of Geochemistry at the Guangzhou Institute of Geochemistry, as a consultant with respect to certain geological matters at its Wuxi Gold Mine project.

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| **Item 1A.** | **Risk Factors** |

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Our business operations are subject to a number of risks and uncertainties, including, but not limited to those set forth below:

**Risks Relating To Our Company**

*We Are Still Considered To Be A Start-Up Company And Have Little Operating History On Which To Evaluate Our Potential For Future Success.*

Our company was formed in 1996. During the years ended December 31, 2024 and 2025, we did not derive any revenue from the processing and sale of ore concentrates. We have had limited operating history under our proposed business model upon which you can adequately evaluate our business and prospects. Our limited operating history may prevent a meaningful evaluation of our business, financial performance and prospects.

You must also consider all the risks and uncertainties frequently encountered by developing companies in a very competitive field, such as ours. Our inability to find viable or profitable acquisition candidates and then finding the necessary funding for these purchases may adversely affect our ability to progress.

Our acquisition of Zhen Ding NV provided us with our first business operations. Despite this acquisition, we are still operating at a loss. Until we are able to integrate Zhen Ding JV and obtain enough funding to execute our business plan for Zhen Ding JV, we will not generate sufficient revenue to cover our operating expenses.

Doubts exist about our ability to continue as a going concern.

*If We Do Not Obtain Additional Capital, We May Be Unable To Sustain Our Business.*

Our operating plan for 2024 and 2025 was focused in part on restarting the Wuxi ore milling operations through the permitting and exploration of further reserves byour joint venture partner, and the subsequent expansion of the mill. On the other hand, we also sought unrelated business opportunities during 2024 and 2025 to diversify our business and leverage our existing assets and expertise. We estimate we will require a minimum of approximately $3,500,000 to support this plan for the next 12 months, regardless of whether such funds are applied to our mining related endeavors, or to a new business venture. We are actively seeking additional funding, but to date have not entered into any agreements or other arrangements for such financing. There can be no assurance that the required additional financing will be available on terms favorable to us, or at all.

Without additional funding, our company will not be able to pursue its business model. If adequate funds are not available or are not available on acceptable terms when required, we would be required to significantly curtail our operations and would not be able to fund the development of the business envisioned by our business model. These circumstances could have a material adverse effect on our business and our ability to continue to operate as a going concern. If additional funds are raised through the issuance of equity or convertible debt securities, our existing shareholders may experience substantial dilution, and such securities may have rights, preferences and privileges senior to those of our common stock.

If we cannot obtain additional funding, we may be required to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reduce or possibly eliminate our expenditures on exploration and mineral concentration; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• seek other businesses opportunities and other strategic transactions with a view toward diversifying our business and attracting new investment.

Even if we do find a source of additional capital, we may not be able to negotiate acceptable terms and conditions for receiving the additional capital. Any future capital investments could dilute or otherwise materially and adversely affect the holdings or rights of our existing shareholders. In addition, new equity or convertible debt securities issued by us to obtain financing could have rights, preferences and privileges senior to our common stock. We cannot give you any assurance that any additional financing will be available to us, or if available, will be on terms favorable to us.

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*We May Have Difficulty Raising Necessary Capital to Fund Operations As A Result Of Market Price Volatility Of Our Shares Of Common Stock.*

The price per share of our shares on the OTC market may at any time become subject to volatility resulting from purely market forces over which we will have no control. Such volatility may make it more difficult to find investors willing to invest in our common stock, or to negotiate equity financing or terms that are acceptable to us, furthering hampering our plans of expansion and growth.

*We Have Incurred Losses in Certain Prior Periods And May Incur Losses In The Future.*

As of December 31, 2025, we had accumulated losses of $23,260,694 since inception and had a working capital deficit of $11,080,776. We may incur additional losses in the future. We expect our costs and expenses to increase as we expand our operations. Our ability to achieve profitability depends on the ability to raise necessary funding, our ability to integrate new projects, the extensiveness of any reserves, and the global pricing of precious and base metals. We may not be able to achieve or sustain profitability on a quarterly or annual basis.

*Our Profitability Is Heavily Dependent on The World Price Of Commodities.*

The selling price that we will obtain for any metal production is almost totally dependent on the world price. Should the price of gold, silver, or copper, our main interests, fall below the cost of production, we may have to cease all mining and milling activities. Our future, at that point, will become extremely doubtful.

*We Have Not Properly Explored the Potential Resources on The Wuxi Property*

Most established and experienced mining enterprises expend time and resources exploring and drilling to establish likely reserves within a given prospect. The method of mining chosen by the previous owners of the Wuxi property, stated in common terms, is to "follow the veins", a technique that is cost effective, yet has the very real risk of mining activities being suddenly curtailed as the "veins" may narrow and yields per ton suddenly become unprofitable. ****This may cause us to terminate extraction and milling activities at this site.

*We Cannot Assure You That Our Growth Strategy Will Be Successful.*

Our growth strategy is primarily through the acquisition of new mines and their expandability. However, many obstacles exist to incorporating any new entity into our existing operations. Acquisitions of businesses or other material operations may require debt financing or additional equity financing, resulting in leverage or dilution of ownership. Integration of acquired business operations could disrupt our business by diverting management away from day-to-day operations. The difficulties of integration may be increased by the necessity of coordinating geographically dispersed organizations, integrating personnel with disparate business backgrounds and combining different corporate cultures. We also may not be able to maintain key employees or customers of an acquired business or realize cost efficiencies or synergies or other benefits we anticipated when selecting our acquisition candidates. In addition, we may need to record write-downs from future impairments of intangible assets, which could reduce our future reported earnings. At times, acquisition candidates may have liabilities or adverse operating issues that we fail to discover through due diligence prior to the acquisition which will be required to comply with laws of PRC, to the extent applicable. There can be no assurance that any proposed acquisition will be able to comply with PRC requirements, rules and/or regulations, or that we will successfully obtain governmental approvals to the extent required, which may be necessary to consummate such acquisitions.

We cannot, therefore, assure you that we will be able to successfully overcome such obstacles and establish these new additions. Our inability to successfully implement our growth strategy may have a negative impact on existing operations and our future financial condition, results of operations or cash flows.

*If We Are Not Able To Implement Our Strategies To Achieve Our Business Objectives, Our Business Operations And Financial Performance May Be Adversely Affected.*

Our business plan and growth strategy is based on currently prevailing circumstances and the assumption that certain circumstances will or will not occur, as well as the inherent risks and uncertainties involved in various stages of development. However, there is no assurance that we will be successful in implementing our strategies or that our strategies, even if implemented, will lead to the successful achievement of our objectives. If we are not able to successfully implement our strategies, our business operations and financial performance may be adversely affected.

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*We Depend On Our Key Management Personnel And The Loss Of Their Services Could Adversely Affect Our Business.*

We place substantial reliance upon the efforts and abilities of our executive officers, Mr. De Gang Wei, our Chairman and key member of Management of our mining operations and CFO; and Ms. Wen Mei Tu, our President and CEO. The loss of the services of any of our executive officers could have a material adverse effect on our business, operations, revenues or prospects. We do not maintain key man life insurance on the lives of these individuals. As well, both Mr. Wei and Ms. Tu have significant activities outside our company that put demands on their time that could detract from their management of our company's business.

*Failure To Attract And Retain Personnel Could Have An Adverse Impact On Our Operations.*

Our future success depends on our ability to identify, attract, hire, retain and motivate other well-qualified managerial, technical, and operational personnel. There is intense competition for these individuals, and there can be no assurance that these professionals will be available in the market or that we will be able to meet their compensation requirements.

**Other Risks Related to Our Business**

*We Potentially Face Intense Competition From Other Companies In The Mining Field That Have Greater Resources Than Us.*

Most of our potential competitors have substantially greater financial, technical, production and other resources than we do. Greater size in some cases provides them with a competitive advantage with respect to production costs because of their economies of scale and their ability to purchase raw materials at lower prices. These companies may be more attractive for qualified and experienced personnel. Companies with greater financial resources may readily outbid us for potential lucrative acquisitions.

*Acts Of Terrorism, Responses To Acts Of Terrorism And Acts Of War May Impact Our Business And Our Ability To Raise Capital.*

Future acts of war or terrorism, national or international responses to such acts, and measures taken to prevent such acts may harm our ability to raise capital or our ability to operate, especially to the extent we depend upon activities conducted in foreign countries, such as China. In addition, the threat of future terrorist acts or acts of war may have effects on the general economy or on our business that are difficult to predict. We are not insured against damage or interruption of our business caused by terrorist acts or acts of war.

**Risks Relating to The People's Republic Of China**

*Currency Conversion and Exchange Rate Volatility Could Adversely Affect Our Financial Condition.*

The PRC government imposes control over the conversion of Renminbi into foreign currencies. Under the current unified floating exchange rate system, the People's Bank of China publishes an exchange rate, which we refer to as the People's Bank of China exchange rate, based on the previous day's dealings in the inter-bank foreign exchange market. Financial institutions authorized to deal in foreign currency may enter into foreign exchange transactions at exchange rates within an authorized range above or below the People's Bank of China exchange rate according to market conditions. Pursuant to the Foreign Exchange Control Regulations of the PRC issued by the State Council which came into effect on April 1, 1996, and the Regulations on the Administration of Foreign Exchange Settlement, Sale and Payment of the PRC which came into effect on July 1, 1996, regarding foreign exchange control, conversion of Renminbi into foreign exchange by Foreign Investment Enterprises, for use on current account items, including the distribution of and profits to foreign investors, is permissible. Conversion of Renminbi into foreign currencies for capital account items, including direct investment, loans, and security investment, is still under certain restrictions. On January 14, 1997, the State Council amended the Foreign Exchange Control Regulations and added, among other things, an important provision, which provides that the PRC government shall not impose restrictions on recurring international payments and transfers under current account items.

Enterprises in the PRC (including Foreign Investment Enterprises) which require foreign exchange for transactions relating to current account items, may, without approval of the State Administration of Foreign Exchange, or SAFE, effect payment from their foreign exchange account or convert and pay at the designated foreign exchange banks by providing valid receipts and proofs.

*Natural Disasters, Health Epidemics and Other Outbreaks*

 

We face risks related to natural disasters, health epidemics and other outbreaks, especially the outbreak of COVID-19 since December 2019 which may have a material effect on our business, results of operation and financial condition.

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*To The Extent That Our Assets Are Located In China, Payment of Any Dividends Or Proceeds From Liquidation Will Be Subject To The Regulation and Approval Of The Relevant Chinese Government Agencies.*

If we pursue our plans to operate mainly in China, our assets will be predominantly located inside China. Under the laws governing foreign invested enterprises in China, the liquidation of assets and distribution of proceeds from such liquidation are permitted, but are subject to special procedures and government approvals under relevant tax, accounting, corporate, creditor protection, insolvency, and foreign exchange laws and regulations. Any liquidation of our assets or distribution of liquidation proceeds by our PRC subsidiary(ies) will be subject, without limitation, to the settlement of any outstanding tax, environmental and regulatory obligations, to the settlement of outstanding obligations to creditors and employees, and to a rigorous audit and government approvals process. The aforementioned restrictions on the distribution liquidation proceeds are subject to periodic change and revision, and may significantly restrict or impede our ability to distribute any net proceeds from the sale of our assets in China to our parent company and shareholders. .

 *China's Economic Policies Could Affect Our Business.*

To the extent our assets will be located in China and to the extent our revenue will be derived from our operations in China, our results of business and prospects would be subject to the economic, political and legal developments in China.

While China's economy has experienced a significant growth in the past twenty years, growth has been irregular, both geographically and among various sectors of the economy. The Chinese government has implemented various measures to encourage economic growth and guide the allocation of resources. Some of these measures benefit the overall economy of China, but may also have a negative effect on us. For example, our sales results and financial condition may be adversely affected by the government control over capital investments or changes in tax regulations with our future investors and/or customers.

The economy of China has been transitioning from a planned economy to a more market-oriented economy. In recent years the Chinese government has implemented measures emphasizing the utilization of market forces for economic reform and the reduction of state ownership of productive assets and the establishment of corporate governance in business enterprises; however, a substantial portion of productive assets in China are still owned by the Chinese government. In addition, the Chinese government continues to play a significant role in regulating industry development by imposing industrial policies. It also exercises significant control over China's economic growth through the allocation of resources, controlling payment of foreign currency-denominated obligations, setting monetary policy and providing preferential treatment to particular industries or companies.

*We May Face Obstacles from the Communist System in the People's Republic Of China.*

Foreign companies conducting operations in The People's Republic of China face significant political, economic and legal risks. The Communist regime in The People's Republic of China includes a stifling bureaucracy that may discourage Western investment.

*We May Have Difficulty Establishing Adequate Management, Legal and Financial Controls In The People's Republic Of China.*

The People's Republic of China historically has been deficient in Western style management and financial reporting concepts and practices, as well as in modern banking, computer and other control systems. We may have difficulty in hiring and retaining a sufficient number of qualified employees to work in The People's Republic of China. As a result of these factors, we may experience difficulty in establishing management, legal and financial controls, collecting financial data and preparing financial statements, books of account and corporate records and instituting business practices that meet Western standards.

*Because Our Assets And Operations Are Located In China, You May Have Difficulty Enforcing Any Civil Liabilities Against Us Under The Securities And Other Laws Of The United States Or Any State.*

All of our assets are currently located in the Republic of China. In addition, our directors and officers are non-residents of the United States, and all or a substantial portion of the assets of these non-residents are located outside the United States. As a result, it may be difficult for investors to effect service of process within the United States upon these non-residents, or to enforce against them judgments obtained in United States courts, including judgments based upon the civil liability provisions of the securities laws of the United States or any state.

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There is uncertainty as to whether courts of the Republic of China would enforce:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Judgments of United States courts obtained against us or these non-residents based on the civil liability provisions of the securities
laws of the United States or any state; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· In original actions brought in the Republic of China, liabilities against us or non-residents predicated upon the securities laws
of the United States or any state. Enforcement of a foreign judgment in the Republic of China also may be limited or otherwise affected
by applicable bankruptcy, insolvency, liquidation, arrangement, moratorium or similar laws relating to or affecting creditors' rights
generally and will be subject to a statutory limitation of time within which proceedings may be brought.

*The PRC Legal System Embodies Uncertainties, Which Could Limit Law Enforcement Availability.*

The PRC legal system is a civil law system based on written statutes. Unlike common law systems, decided legal cases have little precedence. In 1979, the PRC government began to promulgate a comprehensive system of laws and regulations governing economic matters in general. The overall effect of legislation over the past 27 years has significantly enhanced the protections afforded to various forms of foreign investment in China. Each of our PRC operating subsidiaries and affiliates is subject to PRC laws and regulations. However, these laws and regulations change frequently and the interpretation and enforcement involve uncertainties. For instance, we may have to resort to administrative and court proceedings to enforce the legal protection that we are entitled to by law or contract. However, since PRC administrative and court authorities have significant discretion in interpreting statutory and contractual terms, it may be difficult to evaluate the outcome of administrative court proceedings and the level of law enforcement that we would receive in more developed legal systems. Such uncertainties, including the inability to enforce our contracts, could affect our business and operation. In addition, intellectual property rights and confidentiality protections in China may not be as effective as in the United States or other countries. Accordingly, we cannot predict the effect of future developments in the PRC legal system, particularly with regard to the industries in which we operate, including the promulgation of new laws. This may include changes to existing laws or the interpretation or enforcement thereof, or the preemption of local regulations by national laws. These uncertainties could limit the availability of law enforcement, including our ability to enforce our agreements with the government entities and other foreign investors.

*Any Dividends And Other Distributions From Any Subsidiaries In China Are Subject To Various Legal And Contractual Restrictions And Uncertainties, And Our Ability To Pay Dividends Or Make Other Distributions To Our Shareholders Are Negatively Affected By Those Restrictions And Uncertainties.*

We plan to operate in China through PRC subsidiaries. As a result, our profits available for distribution to our shareholders are dependent on the profits available for distribution from PRC subsidiaries. If the subsidiary incurs debt on its own behalf, the debt instruments may restrict its ability to pay dividends or make other distributions, which in turn would limit our ability to pay dividends on our shares. Under the current PRC laws, because we are incorporated in the Delaware, any PRC subsidiaries would be regarded as Sino-foreign joint venture enterprises in China. Although dividends paid by foreign invested enterprises, such as wholly foreign-owned enterprises and Sino-foreign joint ventures, are not subject to any PRC corporate withholding tax, the PRC laws permit payment of dividends only out of net income as determined in accordance with PRC accounting standards and regulations. Determination of net income under PRC accounting standards and regulations may differ from determination under U.S. GAAP in significant aspects, such as the use of different principles for recognition of revenues and expenses. In addition, if we make additional capital contributions to PRC subsidiaries, (which may occur through the capitalization of undistributed profits), then additional approval of the PRC government would be required due to an increase in our registered capital and total investment. Under the PRC laws, a Sino-foreign joint venture enterprise is required to set aside a portion of its net income each year to fund designated statutory reserve funds. These reserves are not distributable as cash dividends. As a result, our primary internal source of funds of dividend payments from PRC subsidiaries are subject to these and other legal and contractual restrictions and uncertainties, which in turn may limit or impair our ability to pay dividends to our shareholders. Moreover, any transfer of funds from us to PRC subsidiaries, either as a shareholder loan or as an increase in registered capital, is subject to registration with or approval by PRC governmental authorities. We currently do not intend on paying any dividends in the future and expect to retain all available funds to support our operations and to finance growth and development of our business. We have never declared dividends or paid cash dividends. Our board of directors will make any future decisions regarding dividends. We currently intend to retain and use any future earnings for the development and expansion of our business and do not anticipate paying any cash dividends in the near future. Therefore, any gains on an investment in our common stock will likely occur through an increase in our stock price, which may or may not occur.

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*We May Be Exposed To Liabilities Under The Foreign Corrupt Practices Act, And Any Determination That We Violated The Foreign Corrupt Practices Act Could Have A Material Adverse Effect On Our Business.*

We are subject to the Foreign Corrupt Practice Act, or FCPA, and other laws that prohibit improper payments or offers of payments to foreign governments and their officials and political parties by U.S. persons and issuers as defined by the statute, for the purpose of obtaining or retaining business. We have operations, agreements with third parties and we make sales in China. Our activities in China create the risk of unauthorized payments or offers of payments by the employees, consultants, sales agents or distributors of our Company, even though they may not always be subject to our control. It is our policy to implement safeguards to discourage these practices by our employees. However, our existing safeguards and any future improvements may prove to be less than effective, and the employees, consultants, sales agents or distributors of our Company may engage in conduct for which we might be held responsible. Violations of the FCPA may result in severe criminal or civil sanctions, and we may be subject to other liabilities, which could negatively affect our business, operating results and financial condition. In addition, the U.S. government may seek to hold our Company liable for successor liability FCPA violations committed by companies in which we invest or that we acquire.

**Risks Related to Corporate And Stock Matters**

 

*Our Common Stock Is A Penny Stock. Trading Of Our Stock May Be Restricted by The SEC's Penny Stock Regulations That May Limit A Stockholder's Ability To Buy And Sell Our Stock.*

Our common shares are deemed "a penny stock". The SEC has adopted Rule 15g-9 which generally defines "penny stock" to be any equity security that has a market price (as defined) less than $5.00 per share or an exercise price of less than $5.00 per share, subject to certain exceptions. Our securities are covered by the penny stock rules, which impose additional sales practice requirements on broker-dealers who sell to persons other than established customers and "accredited investors". The term "accredited investor" refers generally to institutions with assets in excess of $5,000,000 or individuals with a net worth in excess of $1,000,000 or annual income exceeding $200,000 or $300,000 jointly with their spouse. The penny stock rules require a broker-dealer, prior to a transaction in a penny stock not otherwise exempt from the rules, to deliver a standardized risk disclosure document in a form prepared by the SEC which provides information about penny stocks and the nature and level of risks in the penny stock market. The broker-dealer also must provide the customer with current bid and offer quotations for the penny stock, the compensation of the broker-dealer and its salesperson in the transaction and monthly account statements showing the market value of each penny stock held in the customer's account. The bid and offer quotations, and the broker-dealer and salesperson compensation information, must be given to the customer orally or in writing prior to effecting the transaction and must be given to the customer in writing before or with the customer's confirmation. In addition, the penny stock rules require that prior to a transaction in a penny stock not otherwise exempt from these rules, the broker-dealer must make a special written determination that the penny stock is a suitable investment for the purchaser and receive the purchaser's written agreement to the transaction. These disclosure requirements may have the effect of reducing the level of trading activity in the secondary market for the stock that is subject to these penny stock rules. Consequently, these penny stock rules may affect the ability of broker-dealers to trade our securities. We believe that the penny stock rules discourage investor interest in and limit the marketability of our common stock.

In addition, we intend to apply for our common stock to be quoted on the electronic stock quotation service operated by OTC Markets Group the (OTC). There can be no assurance that we will succeed in this effort. Failure to have our shares quoted on the OTC may impair the liquidity of our common stock.

*NASD Sales Practice Requirements May Also Limit A Stockholder's Ability To Buy And Sell Our Stock.*

Section 15(g) of the Securities Exchange Act of 1934, as amended, and Rule 15g-2 promulgated thereunder by the SEC require broker-dealers dealing in penny stocks to provide potential investors with a document disclosing the risks of penny stocks and to obtain a manually signed and dated written receipt of the document before effecting any transaction in a penny stock for the investor's account.

Potential investors in our common stock are urged to obtain and read such disclosure carefully before purchasing any shares that are deemed to be "penny stock." Moreover, Rule 15g-9 requires broker-dealers in penny stocks to approve the account of any investor for transactions in such stocks before selling any penny stock to that investor. This procedure requires the broker-dealer to (i) obtain from the investor information concerning his or her financial situation, investment experience and investment objectives; (ii) reasonably determine, based on that information, that transactions in penny stocks are suitable for the investor and that the investor has sufficient knowledge and experience as to be reasonably capable of evaluating the risks of penny stock transactions; (iii) provide the investor with a written statement setting forth the basis on which the broker-dealer made the determination in (ii) above; and (iv) receive a signed and dated copy of such statement from the investor, confirming that it accurately reflects the investor's financial situation, investment experience and investment objectives. Compliance with these requirements may make it more difficult for holders of our common stock to resell their shares to third parties or to otherwise dispose of them in the market or otherwise.

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*Shares Eligible for Future Sale May Adversely Affect The Market Price Of Our Common Stock, As The Future Sale Of A Substantial Amount Of Our Restricted Stock In The Public Marketplace Could Reduce The Price Of Our Common Stock.*

From time to time, certain of our stockholders may be eligible to sell all or some of their shares of common stock by means of ordinary brokerage transactions in the open market pursuant to Rule 144, promulgated under the Securities Act ("Rule 144"), subject to certain limitations. In general, pursuant to Rule 144, a stockholder (or stockholders whose shares are aggregated) who has satisfied a one-year holding period may, under certain circumstances, sell within any three-month period a number of securities which does not exceed the greater of 1% of the then outstanding shares of common stock or the average weekly trading –volume of the class during the four calendar weeks prior to such sale. Rule 144 also permits, under certain circumstances, the sale of securities, without any limitations, by a non-affiliate of our company that has satisfied a two-year holding period. Any substantial sale of common stock pursuant to Rule 144 or pursuant to any resale prospectus may have an adverse effect on the market price of our securities.

*You May Not Be Able To Liquidate Your Investment Since There Is No Assurance That A Public Market Will Develop For Our Common Stock Or That Our Common Stock Will Ever Be Approved For Trading On A Recognized Exchange.*

There is no established public trading market for our securities. After this document is declared effective by the U.S. Securities and Exchange Commission, we intend to seek a market maker to apply for a quotation on the OTC in the United States. We cannot assure you that a market maker will agree to file the necessary documents with the OTC, nor can there be any assurance that such an application for quotation will be approved or that a regular trading market will develop or that if developed, will be sustained. In the absence of a trading market, you may be unable to liquidate its investment, which will result in the loss of your investment.

*Our Directors And Executive Officers, Collectively, Own Approximately 34% Of Our Outstanding Common Stock And May Be Able To Control Our Management And Affairs.*

As of December 31, 2024, our executive officers and directors beneficially owned an aggregate of approximately 34.0% of our outstanding common stock. As a result, our directors and executive officers, acting together, may be able to control our management and affairs, including the election of directors and approval of significant corporate transactions, such as mergers, consolidation, and sale of all or substantially all of our assets. Consequently, this concentration of ownership may have the effect of delaying or preventing a change of control, including a merger, consolidation or other business combination involving us, even if such a change of control would benefit our stockholders. It could also deprive our shareholders of an opportunity to receive a premium for their shares as part of a sale of our company and it may affect the market price of our common stock. In deciding how to vote on such matters, those shareholders' interests may conflict with yours.

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| **Item 1B.** | **Unresolved Staff Comments** |

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As a "smaller reporting company", we are not required to provide the information required by this Item.

**Item 2.** **Properties**

Our principal office is located at 99 Avenue De la Moselle, Quebec, Canada J4S 1W9. The offices, located in a suburb of Montreal, are provided by our sole officer and director, Victor Sun, on a month-to-month basis, and currently free of charge. .

Our operational offices are located at: Zhen Ding Mining Co. Ltd., Wuxi County, Town of Langqiao, Jing Xian, Anhui Province, China, Tel: 86-6270-9018.

**Mineral Properties**

*Description of the Property of the Wuxi Gold Project*

Zhen Ding JV has relied on Mr. Wei De Gang (formerly Xinzhou Gold) for its supply of metal ores and its processing plant is located on the site of the underground mine where Mr. De Gang has licenses to explore and mine ore (the "Wuxi Gold Project") to reduce transportation cost. The Wuxi Gold Project is located in Jingxian county, situated in the southeastern part of Anhui Province, PRC. The site is 63km southwest of the city of Xuancheng, a significant city of about 2.8 million inhabitants, and is 15 km south of the town of Jingxian. The project site falls under the administration of the township of Langqaio and is located near the village of Wuxi (see Figure 1).

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Figure 1- Location of Wuxi

The geographical position of the Wuxi Gold Project is located within the area bounded by the coordinates: 118°24'20″ to 118°27'20″ E and 30°31'30″ to 30°35'30″ N.

Access to the site from the city of Huangshan, the nearest city with regular air service, is by Express Highway #205 for approximately 125km to the village of Wuxi and subsequently by a 2 km all-weather road to the project site. All roads are public roads. Access is also available through the rail system at Xuancheng. (Please refer to Figure 2 for access to Wuxi via highways).

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![](zd32026310k_p19.jpg)

The area was eroded by glacial activity and subsequently by meteoric waters to a rolling landform. The elevations in the Wuxi Gold Project area are generally higher in the east and lower in the west. The highest elevation, in the area, is less than 300m above sea level.

Gullies and creeks are well developed and are recharged by meteoric water. A river near the Wuxi Gold Project site will, via surface channel, conduit sufficient water for process and mining purposes. All rivers, gullies and creeks in the area flow into the Shuiyang river system.

The area has a mild climate. The highest temperatures occur in July and August reaching highs of + 41ºC and the lowest are during January and February reaching lows of –8ºC. Annual precipitation varies between 1348.2mm and 1422.8mm, concentrated from April to August.

The Wuxi Gold Project is located near the village of Wuxi and the work force comes from this and other nearby villages. A plentiful, although inexperienced, work force is available locally.

Electric power is supplied by the local power grid and additional demand can be met by existing infrastructure. Energy cost is low and reliability is reportedly good. No backup power supply is provided or required on site. Telephone lines are available. Cellular phone coverage is good. Required roads, power lines, and water lines are in place.

Our former joint venture partner, Xinzhou Gold mined ores at the Wuxi Gold Project under two permits: (1) Mining License No. C3400002009114110049341 (the "Mining License") and (2) Gold Mining License No. (2005) 42 (the "Gold Mining License").

The Mining License was valid from November 20, 2014 until November 20, 2017 and was issued by the Mining Resources Department of Anhui Province. This license allowed ore to be mined in a specific area spanning 0.744 square kilometers with an ore extraction limit of 60,000 tons per year. The Mining License allows for underground mining.

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The Gold Mining License was issued by the National Commission on National Development and Reform and specifically grants the right to extract gold ore up to 200 tons a day in the Wuxi Gold Mine and was valid from June 3, 2005 until June 3, 2015. The permit extension application is currently paused due to the inability of our joint venture to demonstrate adequate capital resources to undertake necessary work and exploration, but may be eligible to be revived. Without a valid Gold Mining License, Mr. De Gang may not mine any gold ore from the Wuxi Gold Mine and therefore would not have any gold ore available for sale to us, which could have a material adverse effect on our revenues and income.

In December, 2016, the application to expand the Wuxi mine permit was rejected due to the company's insufficient working capital. Mr. Wei De Gang intends to reapply for an extension of the permitted mining area when our joint venture is able to demonstrate sufficient working capital to drill the extended area. As such, mining of ore has been paused indefinitely awaiting an expansion of the working area permitted under the Mining License. However, if sufficient working capital is unavailable, or should the application be denied on other grounds, we would not be able to secure another source with higher grade ores for our processing plant, which would severely limit our ability to execute our plan of operation and our potential profitability.

*History of the Wuxi Gold Project*

Initial regional geologic work began, in this area, in the 1930's. Geologists, including Li Yuyao and Wang Hengjie, began investigations into the origin of the carbonaceous zone in southern Anhui. Mineral exploration work began subsequent to the investigation for coal by Zhaoxian Bian and Yunyuan Liu in the 1940's.

Additional regional geology and mineral geological surveys were performed between 1960 and 1965, by the Anhui Regional Geological Survey Team. This team provided a detailed Lithological/Stratigraphic study of the area. Concomitantly, this team performed stream sampling and investigations of old mine workings as well as additional mineral prospecting which has laid the basis for all subsequent geological work.

Since that time, there have been sporadic geological investigations primarily for the purpose of scientific research. Official regional geologic survey mapping is limited to a 1:50000 scale survey map; this limitation is indicative of the minor amounts of previous geological work performed in the area.

In 1998, the Anhui Exploration (Nuclear Technology) Institute discovered gold and poly-metallic deposits in the district. The mineral resource, subject of this report, was located primarily by surface exploration techniques, primarily surface trenching.

In March of 1999, the Anhui Exploration (Nuclear Technology) Institute sought additional investors; their involvement resulted in the formation of our joint venture partner, Xinzhou Gold. Senior management and owners of Xinzhou Gold are also our partner in Zhen Ding JV and also form part of the senior management of Zhen Ding DE.

In 2010, an additional financial partner was admitted to the Wuxi Gold Project and committed to expending up to US$4,000,000 to firm up the mining tunnels, for additional drilling and building an ore processing (concentration) plant. From 2006 through 209, Zhen Ding JV spent approximately $27.5 million RMB (about US$4.3 million) in respect of the Wuxi Gold Project.

*The Physical Plant at the Wuxi Gold Project*

The processing of the ore is through a gravity concentration plant which has been built on the northeast side of the mountain located within the Zhen Ding JV prospect. The plant is owned by Zhen Ding JV and is approximately six years old.

In the PRC, land use rights are the legal rights for an entity to use land for a fixed period of time. The PRC has adopted a dual land tenure system under which land ownership is independent of land use rights. The land is either owned by the state or by rural collective economic organizations. As of December 31, 2019, the Zhen Ding JV did not have any land use rights agreements with the PRC for the buildings owned by our Company. The Government owns the land where our Company's buildings are located and allows our Company free usage of the land.

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The overview of milling process is for the ore to be extracted and brought to the plant and initially passed through two crushers, one coarse and one more refined, which is then fed into one of three grinding mills, where the ore is ground into powder form. At the grinding process, the powdered ore is mixed with chemicals and then fed into a floatation machine. After the chemical treatment, output from the floatation machine goes through a filter and drying machine. The output of the drying produces our final product, which is a gold, silver, lead, zinc and copper concentrate. We do not produce pure metal. We estimate our extracted ore is 65-80% pure and is sold to refineries that further purify and separate the concentrate. Tailing are sent directly to a tailing pond near the entrance side of the plant. There is no hazardous waste produced by our concentration plant and we recycle nearly all of the waste water.

The plant was completed, tested, and inspected by authorities during 2012. Milling activity commenced during the summer of 2012. In the five months ended December 31, 2012, Zhen Ding JV milled and sold $2,101,200 of metal concentrate. However, mining and production decreased at year end as Xinzhou Gold exhausted its higher concentrated gold deposits and needed to extract beyond the areas permitted by the mining license.

At the beginning of fiscal 2015, we idled our mineral processing plant due to an overall downturn in the demand and market prices for our concentrates. This downturn coincided with an overall economic recession in China and downturn in the global commodities market during fiscal 2015 through 2016. Our plant has subsequently remained idle, and Xinzhou Gold's prospecting and mining licenses have lapsed.

Due to our continued inability to raise sufficient financing to expand Xinzhou Gold's mining permit, Xinzhou Gold elected to reapply for a new drilling permit based on a scaled-down drilling plan. The resulting new permit application, which was submitted to the Anhui Province Land & Resources Bureau for approval on March 8, 2017, sought renewed permission to continue drilling in the areas directly adjacent to our concentration plant. That application was subsequently rejected due to environmental concerns regarding wastewater runoff onto nearby agricultural lands. Accordingly, during the last six months of fiscal 2019, the Company was primarily devoted to refining its environmental impact compliance proposal and design in consultation with government officials. A new proposal and design for a tailing pond treatment facility was submitted to the environmental protection authorities on June 30, 2019.

During the fall of 2019, the Zhen Ding JV received feedback from the Land & Resource Bureau regarding its June 30, 2019 proposal and design submission. The authorities requested certain improvements to the tailing pond and wastewater treatment facility on the proposed drilling site as a condition of granting any new drilling permit. Zhen Ding JV subsequently retained a new environmental expert to re-design the tailing pond treatment facility. The new design would employ automated pumping systems to optimize water transfer while lowering both cost and risk. The design affords immediate control of pressure and flowrate, as well as real-time monitoring of pump speed, flowrate, inlet/outlet water pressures, water temperature, engine performance, and engine fuel level. The improved water treatment design report was submitted to the government in December 2019 with an estimated budget of approximately $1.75 million over two years. The Company expected a ruling on the new proposal in March 2020, however the ruling was delayed due to COVID-19 containment measures in Anhui province which resulted in reduced staffing and operations across all levels of the public service. More recently, the Company was advised that no ruling would be provided on the proposal without additional 3<sup>rd</sup> party geo-technical research to support the viability of the Company's design. The estimated cost of such additional research is $500,000.

Recent Operations

*Recent Activities*

During fiscal 2019 our management entered into negotiations with various related party lenders regarding a possible restructuring or conversion of related party debt. Effective December 14, 2020, we issued an aggregate of 46,442,550 shares of our common stock to ten lenders at the price of $0.02 per share in consideration for the cancellation of $928,851 of interest bearing debt payable on demand to the lenders in respect of cash advances made by them to the Company.

 

Since idling our mineral processing plant, we have intermittently sought an investment of between $3,000,000 and $4,000,000, which we believe is required to resume our ore extraction and refinery activities. However, as at the date of this report we have not successfully secured any financing commitment. Meanwhile, our management has continued to identify and evaluate businesses opportunities and other strategic transactions with a view to diversifying our business and creating shareholder value.

Since December 2022, our joint venture has partnered with the Guangzhou Institute of Geophysical Chemistry, a branch of the Chinese Academy of Sciences, and the 217 Institute of Geology in Anhui Province to carry out preliminary prospecting, research, and planning activities in preparation for an application to renew mining and processing permits. Students and faculty of the Chinese Academy of Sciences provide theoretical support and analysis, while the 271 Nuclear Engineering Company has carried out exploration project mapping and design. Xinzhou Gold has also engaged environmental consultants to laisse with The Environmental Protection Bureau of Jingxian County, Anhui Province regarding the renewal of our environmental licenses and permits.

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On December 18, 2024, the Anhui Province Jing County People's Court approved the bankruptcy of our joint venture partner, Xinzhou Gold. On January 23, 2025, per the bankruptcy agreement, Zhen Ding received RMB 963,654.22 from Xinzhou Gold in payment of ordinary debts. Zhen Ding was not aware of the bankruptcy until the payment was received in January 2025.

On February 28, 2025, Xinzhou Gold transferred its 30% share of our joint venture to Mr. Wei De Gang who is the principal and controlling shareholder of Xinzhou Gold. We are advised that the former business of Xinzhou Gold, as it relates to our joint venture, continues under the ownership of Mr. Wei De Gang, and the operation of our joint venture now continues under his 30% ownership. Therefore, the bankruptcy of our joint venture partner and subsequent transfer of shares in our joint venture did not result in the dissolution of our joint venture, or in a change of its control. All references to "Xinzhou Gold" contained in this report, as they pertain to any period after February 28, 2025, refer to the business of Xinzhou Gold operated and owned by Mr. Wei De Gang, not to Jing Xian Xinzhou Gold Co., Ltd.

More recently, our joint venture is in preliminary discussions to cooperate with Xinan Environmental Protection (XEP), a state-owned enterprise, to develop a waste-to-energy power generation operation using the Wuxi Gold Mine Lands and infrastructure. However, the proposed collaboration is subject to obtaining satisfactory results from a feasibility study (which has been commissioned by XEP), the negotiation of satisfactory financial and other terms, and government approval.

**Item 3.** **Legal Proceedings**

From time to time, we may become involved in litigation relating to claims arising out of its operations in the normal course of business. We are not involved in any pending legal proceeding or litigation and, to the best of our knowledge, no governmental authority is contemplating any proceeding to which we area party or to which any of our properties is subject, which would reasonably be likely to have a material adverse effect on us.

**Item 4.** **Mine Safety Disclosures**

Not applicable.

**Item 5.** **Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities**

Our common shares are quoted on the OTC Markets under the symbol "RBTK." The following quotations, obtained from Stockwatch, reflect the high and low bids for our common shares based on inter-dealer prices, without retail mark-up, mark-down or commission and may not represent actual transactions.

The following table reflects the high and low bid information for our common stock obtained from Stockwatch and reflects inter-dealer prices, without retail mark-up, markdown or commission, and may not necessarily represent actual transactions.

The high and low bid prices of our common stock for the periods indicated below are as follows:

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| | | |
|:---|:---|:---|
| **OTC Markets** | **OTC Markets** | **OTC Markets** |
| **Period Ended** | **High** | **Low** |
| April 1, 2026 | 6.25 | 6.25 |
| December 31, 2025 | 55.00 | 1.00 |
| September 30, 2025 | 2.60 | 1.11 |
| June 30, 2025 | 4.25 | 1.79 |
| March 31, 2025 | 6.25 | 21.00 |
| December 31, 2024 | *\** | *\** |
| September 30, 2024 | *\** | *\** |
| June 30, 2024 | *\** | *\** |
| March 31, 2024 | *\** | *\** |
| December 31, 2024 | *\** | *\** |

---

*\* No trades occurred during this period.*

Our shares are issued in registered form. Worldwide Stock Transfer, LLC, One University Plaza, Suite 505, Hackensack, NJ 07601, Telephone: (201) 820-2008; Facsimile: (201) 820-2010is the registrar and transfer agent for our common shares.

On March 30, 2025, the shareholders' list showed 201 registered shareholders with 110,967,348 common shares outstanding.

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**Dividend Policy**

We have not paid any cash dividends on our common stock and have no present intention of paying any dividends on the shares of our common stock. Our current policy is to retain earnings, if any, for use in our operations and in the development of our business. Our future dividend policy will be determined from time to time by our board of directors.

**Equity Compensation Plan Information**

We do not have a stock option plan in favor of any director, officer, consultant or employee of our company.

**Convertible Securities**

As of December 31, 2025, we did not have any convertible securities outstanding.

**Recent Sales of Unregistered Securities; Use of Proceeds from Registered Securities**

We did not sell any equity securities which were not registered under the Securities Act during the year ended December 31, 2025 that were not otherwise disclosed on our quarterly reports on Form 10-Q or our current reports on Form 8-K filed during the year ended December 31, 2025.

**Purchase of Equity Securities by the Issuer and Affiliated Purchasers**

We did not purchase any of our shares of common stock or other securities during the fourth quarter of our fiscal year ended December 31, 2025.

**Item 6.** **Selected Financial Data**

As a "smaller reporting company", we are not required to provide the information required by this Item.

**Item 7.** **Management's Discussion and Analysis of Financial Condition and Results of Operations**

The following discussion should be read in conjunction with our consolidated audited financial statements and the related notes that appear elsewhere in this annual report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward looking statements. Factors that could cause or contribute to such differences include, but are not limited to those discussed below and elsewhere in this annual report, particularly in the section entitled "Risk Factors" beginning on page 6 of this annual report.

Our consolidated audited financial statements are stated in United States Dollars and are prepared in accordance with United States Generally Accepted Accounting Principles.

**Plan of Operations and Cash Requirements**

Our operating plan for the balance of fiscal 2025, and fiscal 2026 is to seek an investment of approximately US$3,350,000 for deployment toward the resumption of our mineral extraction and refinery activities. We have not secured any financing commitment thus far.

We have not included a detailed budget in this quarterly report to outline the anticipated costs associated with the resumption of our mineral extraction and refinery activities. We anticipate that such costs will include those related to extensive facility improvements, permitting expense, drilling expense, general and specialized labour expense, professional fees, and other contingent costs and expenses. We intend to resume disclosing a detailed budget once we have obtained renewed confirmation of previous cost projections and recommendations made by the technical experts engaged by our joint-venture.

We will also actively seek partnerships with mining enterprises primarily active in the gold, silver and/or copper fields and subject to the general parameters described earlier to increase our supply of raw material. In addition, we will look for a partner in the natural resources field in order to enhance our future capability to access necessary funding and seek other businesses opportunities and other strategic transactions with a view toward diversifying our business and attracting new investment.

In light of our nominal cash resources, we expect that we will be required to raise approximately $3,350,000 in order to execute our proposed business plan during the remainder of fiscal 2025, and fiscal 2026. If we are unable to raise sufficient funds to carry out our planned investment in mineral extraction and refining activities, we anticipate that we will require a minimum of $350,000 to maintain our current business operations without engaging in any significant exploration activities or investment. We have suffered recurring losses from operations. The continuation of our company is dependent upon our company attaining and maintaining profitable operations and raising additional capital as needed.

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The continuation of our business is dependent upon obtaining further financing, a successful program of exploration and/or development, and, finally, achieving a profitable level of operations. The issuance of additional equity securities by us could result in a significant dilution in the equity interests of our current stockholders. Obtaining commercial loans, assuming those loans would be available, will increase our liabilities and future cash commitments.

There are no assurances that we will be able to obtain further funds required for our continued operations. As noted herein, we are pursuing various financing alternatives to meet our immediate and long-term financial requirements. There can be no assurance that additional financing will be available to us when needed or, if available, that it can be obtained on commercially reasonable terms. If we are not able to obtain the additional financing on a timely basis, we will be unable to conduct our operations as planned, and we will not be able to meet our other obligations as they become due. In such event, we will be forced to scale down or perhaps even cease our operations. We are not aware of any known trends, demands, commitments, events or uncertainties that will result in or that are reasonably likely to result in our liquidity increasing or decreasing in any material way.

 **Results of Operations - Years Ended December 31, 2025 and 2024**

The following summary of our results of operations should be read in conjunction with our financial statements for the years ended December 31, 2025 and 2024, which are included herein.

Our operating results for the years ended December 31, 2025 and 2024, and the changes between those periods for the respective items are summarized as follows:

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| | | |
|:---|:---|:---|
|  | **Year Ended**<br>**December 31,**<br>**2025** | **Year Ended**<br>**December 31,**<br>**2024** |
| General and administrative | $96071 | $605032 |
| Interest expense | $(497913) | $(501273) |
| Other income (expenses) | $880647 | $- |
| Net loss | $286663 | $(1106305) |

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Our financial statements report a net income of $286,663 for the year ended December 31, 2025 as compared to net loss of $1,106,305 for the year ended December 31, 2024, representing a increase of 126% during the most recent fiscal year.

Our operating expenses for the year ended December 31, 2025 were $96,071 compared to $605,032 for the year ended December 31, 2024.

Our interest expense for the year ended December 31, 2025 was $497,913 compared to $501,273 for the year ended December 31, 2024.

Our other income for the year ended December 31, 2025 was $880,647 compared to $0 for the year ended December 31, 2024.

**Liquidity and Financial Condition**

*Working Capital*

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| | | |
|:---|:---|:---|
|  | **At**<br>**December 31,**<br>**2025** | **At**<br>**December 31,**<br>**2024** |
| Current assets | $20289 | $1977 |
| Current liabilities | 11101065 | 10929840 |
| Working deficit | $($11080776) | $($10927863) |

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As of December 31 2025, we had accumulated losses of approximately $23,260,694 since inception. We anticipate generating losses and, therefore, may be unable to continue operations further in the future.

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*Cash Flows*

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| | | |
|:---|:---|:---|
|  | **Year Ended** | **Year Ended** |
|  | **December 31,** | **December 31,** |
|  | **2025** | **2024** |
| Net cash provided by (used in) operating activities | $78284 | $(107228) |
| Net cash provided by (used in) financing activities | (29200) | 105475 |
| Foreign currency translation | (30772) | (2563) |
| Net increase (decrease) in cash | $18312 | $(4316) |

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*Operating Activities*

Net cash provided by operating activities was $78,284 for the year ended December 31, 2025 compared to net cash used in operating activities of $107,228 for the year ended December 31, 2024, representing an increase of 173%.

*Investing Activities*

Net cash provided by investing activities was nil for the years ended December 31, 2025 and December 31, 2024, respectively.

*Financing Activities*

Net cash used in financing activities was $29,200 for the year ended December 31, 2025 compared to net cash provided by financing activities of $105,475 for the year ended December 31, 2024. Proceeds from financing activities during both years were from short-term operating loans.

**Contractual Obligations**

As a "smaller reporting company", we are not required to provide tabular disclosure obligations.

**Going Concern**

These financial statements have been prepared on a going concern basis, which implies the Company will continue to meet its obligations and continue its operations for the next twelve months. As of December 31, 2025, the Company had accumulated losses of $23,260,694 since inception and had a working capital deficit of $11,080,776. These factors raise substantial doubt regarding the Company's ability to continue as a going concern. The continuation of the Company as a going concern is dependent upon financial support from its stockholders, the ability of the Company to obtain necessary equity financing to continue operations, and the attainment of profitable operations. Realization value may be substantially different from carrying values as shown and these financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

**Off-Balance Sheet Arrangements**

We have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to stockholders.

**Critical Accounting Policies**

The discussion and analysis of our financial condition and results of operations are based upon our financial statements, which have been prepared in accordance with the accounting principles generally accepted in the United States of America. Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. These estimates and assumptions are affected by management's application of accounting policies. We believe that understanding the basis and nature of the estimates and assumptions involved with the following aspects of our financial statements is critical to an understanding of our financial statements.

*Principles of Consolidation*

The consolidated financial statements include the accounts of our company, our wholly subsidiary Z&W Zhen Ding Corporation and our majority owned subsidiary Zhen Ding Mining Co. Ltd. All inter-company transactions and balances were eliminated. The portion of the income applicable to non-controlling interests in subsidiary undertakings is reflected in the consolidated statements of operations.

*Foreign Currency Adjustments*

Assets and liabilities recorded in foreign currencies are translated at the exchange rate on the balance sheet date. Revenue and expenses are translated at average rates of exchange prevailing during the year. Any translation adjustments are reflected as a separate component of stockholders' equity (deficit) and have no effect on current earnings. Gains and losses resulting from foreign currency transactions are included in current results of operations. During the periods ended December 31, 2025 and 2024, the Company had aggregate foreign currency translation gains (loss) of ($439,576) and $280,045, respectively.

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*Non-controlling Interest*

Non-controlling interests in the Company's subsidiaries are reported as a component of equity, separate from the parent's equity. Purchase or sale of equity interests that do not result in a change of control are accounted for as equity transactions. Results of operations attributable to the minority interest are included in our consolidated results of operations and, upon loss of control, the interest sold, as well as interest retained, if any, will be reported at fair value with any gain or loss recognized in earnings.

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| | |
|:---|:---|
| **Item 7A.** | **Quantitative and Qualitative Disclosures About Market Risk** |

---

As a "smaller reporting company", we are not required to provide the information required by this Item.

**Item 8.** **Financial Statements and Supplementary Data**

Index to Financial Statements

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| | |
|:---|:---|
| [Report of Independent Registered Public Accounting Firm (PCAOB ID 7000)](#report) | 27 |
| [Consolidated Balance Sheets as of December 31, 2025 and December 31, 2024](#bs) | 28 |
| [Consolidated Statements of Operations and Comprehensive Loss](#sop) | 29 |
| [Consolidated Statements of Cash Flows](#cf) | 30 |
| [Consolidated Statement of Stockholders' Deficit](#sc) | 31 |
| [Notes to the Consolidated Financial statements](#notes) | 32 |

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Stockholder's

Zhen Ding Resources, Inc

**Opinion on the Financial**

We have audited the accompanying consolidated balance sheet of Zhen Ding Resources, Inc. (the Company) as of December 31, 2025 and 2024, and the related consolidated statements of operations, stockholders' deficit, and cash flows for each of the two the years ended December 31, 2025 and 2024, and the related notes (collectively referred to as the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024, and the results of its operations and its cash flows for each of the two years ended December 31, 2025 and 2024, in conformity with accounting principles generally accepted in the United States of America.

**Going Concern**

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As described in Note 3 to the financial statements, the Company has suffered recurring losses from operations and has negative working capital and a stockholders' deficit that raise substantial doubt about its ability to continue as a going concern. Management's plans regarding these matters are also described in Note 3. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

**Basis for Opinion**

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

**Emphasis of Matter**

The Company has significant transactions with related parties which are described in Note 6 of the consolidated financial statements. Transactions involving related parties cannot be presumed to be carried out on an arm's length basis, as the requisite condition of competitive, free market dealings may not exist.

**Critical Audit Matters**

Critical audit matters are matters arising from the current year audit of the consolidated financial statements that were communicated or required to be communicated to the audit committee and that (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. We determined that there were no critical audit matters.

HTL International, LLC

We have served as the Company's auditor since 2024.

Houston, Texas

April 15, 2026

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**Zhen Ding Resources Inc.**

**Condensed Consolidated Balance Sheets**

**(In US Dollars, except for number of shares)**

**As of December 31, 2025 and 2024**

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| | | |
|:---|:---|:---|
|  | **December 31,**<br>**2025** | **December 31,**<br>**2024** |
| Assets |  |  |
| Current Assets: |  |  |
| &nbsp;&nbsp;Cash and cash equivalents | $20289 | $1977 |
| Total current assets | $20289 | $1977 |
| Liabilities and Stockholders' Deficit |  |  |
| Current Liabilities: |  |  |
| &nbsp;&nbsp;Accounts payable and accrued liabilities | $571074 | $505428 |
| &nbsp;&nbsp;Accounts payable and accrued liabilities-related parties | 6886113 | 6105974 |
| &nbsp;&nbsp;Deferred revenue | 129649 | 124209 |
| &nbsp;&nbsp;Due to related parties |  | 733465 |
| &nbsp;&nbsp;Short-term debt | 154500 | 154500 |
| &nbsp;&nbsp;Short-term debt-related parties | 3359729 | 3306264 |
| Total current liabilities | 11101065 | 10929840 |
| Stockholders' deficit |  |  |
| Common stock, 150,000,000 authorized, $0.0001 par value, 110,967,348 shares issued and outstanding, respectively | 11097 | 11097 |
| &nbsp;&nbsp;Additional paid-in capital | 14866506 | 14866506 |
| &nbsp;&nbsp;Subscriptions receivable | (5431) | (5431) |
| &nbsp;&nbsp;Accumulated other comprehensive income | 647877 | 955580 |
| &nbsp;&nbsp;Accumulated deficit | (23260694) | (23419382) |
| Total deficit attributable to Zhen Ding Resources Inc. | (7740645) | (7591630) |
| Non-controlling interests | (3340131) | (3336233) |
| Total Stockholders' deficit | (11080776) | (10927863) |
| Total liabilities and Stockholders' deficit | $20289 | $1977 |

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The accompanying notes are an integral part of these audited condensed consolidated financial statements

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**Zhen Ding Resources Inc.**

**Condensed Consolidated Statements of Operations and Comprehensive Loss**

**For the years ended December 31, 2025 and 2024**

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| | | |
|:---|:---|:---|
|  | **December 31,**<br>**2025** | **December 31,**<br>**2024** |
| Operating expenses: |  |  |
| &nbsp;&nbsp;&nbsp;General and administrative | $96071 | $605032 |
| Total operating expenses | 96071 | 605032 |
| Operating loss | (96071) | (605032) |
| Other expense: |  |  |
| &nbsp;&nbsp;&nbsp;Interest expenses | (497913) | (501273) |
| &nbsp;&nbsp;&nbsp;Other income (expenses) | 880647 | - |
| Net Income/(Loss) | 286663 | (1106305) |
| Loss attributable to non-controlling interests | (127975) | 139065 |
| Net loss attributable to Zhen Ding Resources Inc. | $158688 | $(967240) |
| Basic and diluted loss per common share | $(0.00) | $(0.01) |
| Basic and diluted weighted average number of common shares outstanding | 110967348 | 110779567 |
| Comprehensive loss: |  |  |
| Net Income/(Loss) | $286663 | $(1106305) |
| Other comprehensive income (loss): |  |  |
| &nbsp;&nbsp;&nbsp;Foreign currency translation adjustments | (439576) | 280045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total comprehensive loss | (152913) | (826260) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Comprehensive loss attributable to non-controlling interest | (3898) | 55050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Comprehensive loss attributable to Zhen Ding Resources Inc. | $(149015) | $(881310) |

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The accompanying notes are an integral part of these audited condensed consolidated financial statement

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**Zhen Ding Resources Inc.**

**Condensed Consolidated Statements of Cash Flows**

**(In US Dollars)**

**For the years ended December 31, 2025 and 2024**

**(Audited)**

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| | | |
|:---|:---|:---|
|  | **December 31,**<br>**2025** | **December 31,**<br>**2024** |
| **Cash flows from operating activities** |  |  |
| Net Income | $286663 | $(1106305) |
| Gain on extinguishment of debt | (733465) |  |
| Adjustment to reconcile net loss to net cash used in operating activities: |  |  |
| Stock based compensation |  | 501400 |
| Accounts payable and accrued liabilities | 66151 | 24516 |
| Accounts payable and accrued liabilities-related parties | 458935 | 473161 |
| **Net cash provided by/(used in) operating activities** | 78284 | (107228) |
| **Cash flows from financing activities** |  |  |
| Payments on notes payable – related parties | (126836) |  |
| Proceeds from borrowings on short-term debt – related parties | 97636 | 105475 |
| **Net cash provided by financing activities** | (29200) | 105475 |
| **Foreign currency translation** | (30772) | (2563) |
| **Net change in cash** | 18312 | (4316) |
| **Cash and cash equivalents - beginning of the period** | 1977 | 6293 |
| **Cash and cash equivalents - end of the period** | $20289 | $1977 |
| **Supplemental cash flow information:** |  |  |
| &nbsp;&nbsp;&nbsp;Cash paid for interest | $- | $- |
| &nbsp;&nbsp;&nbsp;Cash paid for income tax | $- | $- |

---

The accompanying notes are an integral part of these audited condensed consolidated financial statements.

[**Table of Contents**](#toc)

**Zhen Ding Resources Inc.**

**Condensed Consolidated Statement of Stockholders' Deficit**

**For the years ended December 31, 2025 and 2024**

**(Audited)**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Common Stock | Common Stock | | | | | | |
|  | Shares | Par | Additional Paid <br> in<br>Capital | Subscriptions<br>Receivable | Accumulated <br> Other <br> Comprehensive<br>Income | Accumulated<br>Deficit | Non-<br> controlling<br>Interest | Total <br> Stockholders'<br>Deficit |
| Balances, December 31, 2024 | 110967348 | $11097 | $14866506 | $(5431) | $955580 | $(23419382) | $(3336233) | $(10927863) |
| Foreign currency translation<br> adjustment |  |  |  |  | (307703) |  | (131873) | (439576) |
| Net Income | - | - | - | - | - | 158688 | 127975 | 286663 |
| Balances, December 31, 2025 | 110967348 | $11097 | $14866506 | $(5431) | $647877 | $(23260694) | $(3340131) | $(11080776) |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Common Stock | Common Stock | | | | | | |
|  | Shares | Par | Additional Paid <br> in<br>Capital | Subscriptions<br>Receivable | Accumulated <br> Other <br> Comprehensive<br>Income | Accumulated<br>Deficit | Non-<br> controlling<br>Interest | Total <br> Stockholders'<br>Deficit |
| Balances, December 31, 2023 | 110737348 | $11074 | $14365129 | $(5431) | $759550 | $(22452142) | $(3281183) | $(10603003) |
| Stock based compensation | 230000 | 23 | 501377 |  |  |  |  | 501400 |
| Foreign currency translation<br> adjustment |  |  |  |  | 196030 |  | 84015 | 280045 |
| Net loss | - | - | - | - | - | (967240) | (139065) | (1106305) |
| Balances, December 31, 2024 | 110967348 | $11097 | $14866506 | $(5431) | $955580 | $(23419382) | $(3336233) | $(10927863) |

---

The accompanying notes are an integral part of these audited condensed consolidated financial statements.

[**Table of Contents**](#toc)

**Zhen Ding Resources Inc.**

**Notes to Consolidated Financial Statements**

**(Audited)**

**Note 1. Description of Business**

Zhen Ding Resources Inc. (formerly Robotech Inc.) (the "Company", "Zhen Ding DE", or "ZDRI") was incorporated in the State of Delaware in September 1996 and began its business activities in the development and marketing of specialized technological equipment. In early 2010, the business direction of our Company was changed to seek opportunities to focus particularly on searching for companies engaged in the mining of gold, silver and copper.

The Company indirectly owns 70% of a Chinese Joint Venture entity, Zhen Ding Mining Co. Ltd. ("Zhen Ding JV" or "JXZD"). This indirect ownership is through a 100% ownership of a California company Z&W, Zhen Ding Corporation ("Z&W CA").

Our Company, through Z&W CA, participates in a joint venture with Jing Xian Xinzhou Gold Co., Ltd. ("Xinzhou Gold"), a company organized under the laws of the People's Republic of China ("PRC"). The joint venture company, JXZD, is 70% held by our Company through Z&W CA who has the mineral exploration, mineral mining and gold mining rights to a property located in the southwestern part of Anhui province in China, near the town of Jing Xian. Xinzhou Gold, the other 30% partner of JXZD is the actual named owner of the various licenses used by JXZD and transferred all rights emanating from these licenses as part of the joint venture agreement between Z&W CA and Xinzhou Gold. Our Company's primary activity, through JXZD, is ore processing and production in China.

In 2017, the Company shut down its mineral processing plant in China due to insufficient working capital. The Company had limited operations and plans to resume selling processed ore concentrate as soon as possible to provide Zhen Ding JV the cash flow needed to keep its plant operating and to maintain a viable work force for future expansion.

**Note 2. Summary of Significant Accounting Policies**

**Basis of Presentation**

These unaudited condensed consolidated financial statements have been prepared in accordance with rules and regulations of the Securities and Exchange Commission ("SEC") and generally accepted accounting principles in the United States of America ("GAAP") for interim financial information and with the instructions to Regulation S-X. Accordingly, the unaudited condensed consolidated financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, the Company has included all adjustments considered necessary for a fair presentation and such adjustments are of a normal recurring nature. These unaudited condensed consolidated financial statements should be read in conjunction with the condensed consolidated financial statements for the year ended December 31, 2025 and notes thereto. The results of operations for the twelve months ended December 31, 2025, are not necessarily indicative of the results to be expected for the full fiscal year ended December 31, 2025.

The summary of significant accounting policies presented below is designed to assist in understanding the Company's financial statements. Such financial statements and accompanying notes are the representations of the Company's management, which is responsible for the integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America ("U.S. GAAP") in all material respects and have been consistently applied in preparing the accompanying financial statements.

**Principles of Consolidation**

The audited consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries Z&W CA and its majority owned subsidiary JXZD. All inter-company transactions and balances were eliminated. The portion of the income applicable to non-controlling interests in subsidiary undertakings is reflected in the consolidated statements of operations.

**Use of Estimates and Assumptions**

The Company prepares its financial statements in conformity with U.S. GAAP, which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

[**Table of Contents**](#toc)

**Foreign Currency Adjustments**

Assets and liabilities recorded in foreign currencies are translated at the exchange rate on the balance sheet date. Revenue and expenses are translated at average rates of exchange prevailing during the year. Any translation adjustments are reflected as a separate component of stockholders' equity (deficit) and have no effect on current earnings. Gains and losses resulting from foreign currency transactions are included in current results of operations. During the periods ended December 31, 2025 and 2024, the Company had aggregate foreign currency translation gains (loss) of ($439,576) and $280,045, respectively.

**Income Taxes**

An asset and liability approach is used for financial accounting and reporting for income taxes. Deferred income taxes arise from temporary differences between income tax and financial reporting and principally relate to recognition of revenue and expenses in different periods for financial and tax accounting purposes and are measured using currently enacted tax rates and laws. In addition, a deferred tax asset can be generated by net operating loss carry forwards. If it is more likely than not that some portion or all of a deferred tax asset will not be realized, a valuation allowance is recognized. The Company has tax losses that may be applied against future taxable income. The potential tax benefit arising from these loss carryforwards are offset by a valuation allowance due to uncertainty of profitable operations in the future.

The Company follows the FASB guidance for how uncertain tax positions should be recognized, measured and presented in the financial statements. This requires the evaluation of tax positions taken or expected be taken in the course of preparing the Company's tax returns to determine whether the tax positions are "more-likely-than-not" of being sustained "when challenged" or "when examined" by the applicable tax authority. Tax positions not deemed to meet the more-likely-than-not threshold would be recorded as a tax expense and liability in the current year. Management has evaluated the Company's tax positions and concluded that the Company has taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of this guidance as of December 31, 2025. The Company is not currently under audit by any tax jurisdiction.

**Stock-Based Compensation**

We account for stock-based compensation under the fair value method which requires all such compensation to employees, including the grant of employee stock options, to be calculated based on its fair value at the measurement date (generally the grant date), and recognized in the condensed consolidated statement of operations over the requisite service period.

**Fair Values of Financial Instruments**

Management believes that the carrying amounts of the Company's financial instruments, consisting primarily of cash, due to related parties, short term debt and short term debt – related parties, approximated their fair values as of December 31, 2025 and 2024, due to their short-term nature.

**Non-controlling Interests**

Non-controlling interests in the Company's subsidiaries are reported as a component of equity, separate from the parent's equity. Purchase or sale of equity interests that do not result in a change of control are accounted for as equity transactions. Results of operations attributable to the minority interest are included in our consolidated results of operations and, upon loss of control, the interest sold, as well as interest retained, if any, will be reported at fair value with any gain or loss recognized in earnings.

 **Basic and Diluted Earnings (Loss) Per Common Share**

The basic net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding. Diluted net loss per common share is computed by dividing the net loss adjusted on an "as converted" basis, by the weighted average number of common shares outstanding plus potential dilutive securities. For all periods presented, there were no potentially dilutive securities outstanding.

**Recently Issued Accounting Pronouncements**

On December 14, 2023, the FASB issued a final standard on improvements to income tax disclosures. The standard requires disaggregated information about a reporting entity's effective tax rate reconciliation as well as information on income taxes paid. The standard is intended to benefit investors by providing more detailed income tax disclosures that would be useful in making capital allocation decisions. ASU 2023-09, *Improvements to Income Tax Disclosures,* applies to all entities subject to income taxes. For public business entities (PBEs), the new requirements will be effective for annual periods beginning after December 15, 2024. For entities other than public business entities (non-PBEs), the requirements will be effective for annual periods beginning after December 15, 2025. The Company is currently evaluating the potential impact of adopting this new guidance

[**Table of Contents**](#toc)

In November 2023, the FASB issued Accounting Standard Update No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07"), intended to improve reportable segments disclosure requirements primarily through enhanced disclosures about significant segment expenses.

ASU 2023-07 includes a requirement to disclose significant segment expenses that are regularly provided to the chief operating decision maker (CODM) and included within each reported measure of segment profit or loss, the title and position of the CODM, an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources, and all segments' profit or loss and assets disclosures. ASU 2023-07 is effective for all public companies for fiscal years beginning after December 15, 2023, and interim periods for the interim period beginning on January 1, 2025. Adoption of ASU 2023-07 did not have a material impact on the Company's financial statement.

**Note 3. Going Concern**

These financial statements have been prepared on a going concern basis, which implies the Company will continue to meet its obligations and continue its operations for the next twelve months. As of December 31, 2025, the Company had accumulated losses of $23,260,694 since inception and had a working capital deficit of $11,080,776. These factors raise substantial doubt regarding the Company's ability to continue as a going concern. The continuation of the Company as a going concern is dependent upon financial support from its stockholders, the ability of the Company to obtain necessary equity financing to continue operations, and the attainment of profitable operations. Realization value may be substantially different from carrying values as shown and these financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

**Note 4 Segment Information**

The Company is engaged as a mineral processing plant in China. The Company has identified the Chief Executive Officer of the Company as the CODM, who uses revenues and expenses to evaluate the business, predominantly in the cash forecasting process, to make resource allocation decisions at the entity level. The Company's operations constitute a single operating segment and therefore, a single reportable segment, because the CODM manages the business activities using information of the Company as a whole. As a result, no disaggregated segment information is presented. The accounting policies used to measure the profit and loss of the segment are the same as those described in the summary of significant accounting policies.

**Note 5. Short-Term Debt** 

The following table represents the details of the short-term debts at December 31, 2025 and 2024:

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| | | | | |
|:---|:---|:---|:---|:---|
| <u>Issuance date</u> | <u>Maturity</u> | <u>Interest Rate</u> | <u>12.31.2025</u> | <u>12.31.2024</u> |
| October 2, 2019 | October 1, 2020 | 1% per month | $10000 | $10000 |
| January 15, 2020 | January 15, 2021 | 1% per month | 22000 | 22000 |
| April 16, 2020 | April 15, 2021 | 1% per month | 13500 | 13500 |
| July 2, 2020 | July 1, 2021 | 1% per month | 18500 | 18500 |
| October 23, 2020 | October 22, 2021 | 1% per month | 6500 | 6500 |
| January 5, 2021 | January 15, 2022 | 1% per month | 22500 | 22500 |
| March 10, 2021 | March 10, 2022 | 1% per month | 20000 | 20000 |
| July 13, 2021 | July 13, 2022 | 1% per month | 16500 | 16500 |
| December 14, 2021 | December 14, 2022 | 1% per month | 25000 | 25000 |
|  |  |  | $154500 | $154500 |

---

According to the loan agreements, there is not any additional interest and penalty for the loans passing maturity date.

During the years ended December 31, 2025 and 2024, the Company recorded interest expense and accrued interest of $18,540 and $18,540 respectively and is included in interest expense in the consolidated statements of operations.

**Note 6. Related Party Transactions**

***Accounts payable***

As of December 31, 2025 and 2024, the Company had payables of $0 and $733,465, respectively, to Xinzhou Gold. These payables bear no interest, are unsecured and are due on demand.

[**Table of Contents**](#toc)

***Short-term debt***

As of December 31, 2025 and 2024, the Company had short-term debts to related parties of $3,410,011 and $3,306,264, respectively. The details of the loans are described as below.

At December 31, 2025:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <u>Name</u> | <u>Relationship to the Company</u> | <u>Amount</u> | <u>Interest Rate</u> | <u>Start Date</u> | <u>Maturity</u> |
| ***Shor-term debt*** |  |  |  |  |  |
| Wei De Gang | CEO & Legal person of JXZD | $2442454 | 15% | May 31, 2011 | May 31, 2014 |
| Zhao Yan Ling | Former office manager of JXZD, <br> wife of Zhou Zhi Bin | 15015 | 15% | January 1, 2011 | December 31, 2013 |
| Zhou Zhi Bin | Former CEO & Legal person of <br> JXZD | 7150 | 15% | January 1, 2011 | December 31, 2013 |
| Tang Yong Hong | Manager of JXZD | 293925 | 15% | February 28, 2015 | February 28, 2016 |
| Yan Chun Yan | Accountant of JXZD | 335 | 15% | August 31, 2014 | August 31, 2015 |
| Victor Sun | Shareholder of ZDRI | 50282 |  | January 1, 2011 | On Demand |
| Victor Sun | Shareholder of ZDRI | 12000 | 15% | April 25, 2022 | May 2, 2023 |
| Victor Sun | Shareholder of ZDRI | 13000 | 15% | May 2, 2022 | May 2, 2023 |
| Victor Sun | Shareholder of ZDRI | 12000 | 15% | July 12, 2022 | July 12, 2023 |
| Victor Sun | Shareholder of ZDRI | 12500 | 15% | December 6, 2022 | December 5, 2023 |
| Victor Sun | Shareholder of ZDRI | 13500 | 15% | January 11, 2023 | January 11, 2024 |
| Victor Sun | Shareholder of ZDRI | 14500 | 15% | April 03, 2023 | April 03, 2024 |
| Victor Sun | Shareholder of ZDRI | 13850 | 15% | June 07, 2023 | June 06, 2024 |
| Victor Sun | Shareholder of ZDRI | 12000 | 15% | July 10, 2023 | July 10, 2024 |
| Victor Sun | Shareholder of ZDRI | 12500 | 15% | October 13, 2023 | October 13, 2024 |
| Victor Sun | Shareholder of ZDRI | 15000 | 15% | January 18, 2024 | January 18, 2025 |
| Victor Sun | Shareholder of ZDRI | 15000 | 15% | April 11, 2024 | April 11, 2025 |
| Victor Sun | Shareholder of ZDRI | 10000 | 15% | May 17, 2024 | June 16, 2025 |
| Victor Sun | Shareholder of ZDRI | 16500 | 15% | June 10, 2024 | June 10, 2025 |
| Victor Sun | Shareholder of ZDRI | 6500 | 15% | July 28, 2024 | July 28, 2025 |
| Victor Sun | Shareholder of ZDRI | 19500 | 15% | July 28, 2024 | July 28, 2025 |
| Victor Sun | Shareholder of ZDRI | 5000 | 15% | September 11, 2024 | September 11, 2025 |
| Victor Sun | Shareholder of ZDRI | 5000 | 15% | September 15, 2024 | September 15, 2025 |
| Victor Sun | Shareholder of ZDRI | 12000 | 15% | October 15, 2024 | October 15, 2025 |
| Victor Sun | Shareholder of ZDRI | 12000 | 15% | January 10, 2025 | January 11, 2026 |
| Victor Sun | Shareholder of ZDRI | 12500 | 15% | February 12, 2025 | February 12, 2026 |
| Victor Sun | Shareholder of ZDRI | 10000 | 15% | April 16, 2025 | March 15, 2026 |
| Victor Sun | Shareholder of ZDRI | 18000 | 15% | July 15, 2025 | July 15, 2026 |
| Victor Sun | Shareholder of ZDRI | 15000 | 15% | August 18, 2025 | August 17, 2026 |
| Victor Sun | Shareholder of ZDRI | 13500 | 15% | September 24, 2025 | September 24, 2025 |
| Victor Sun | Shareholder of ZDRI | 13500 | 15% | November 18, 2025 | November 18, 2026 |
| ***Current portion of long-term debt*** |  |  |  |  |  |
| Zhou Qiang | Office manager of JXZD | 286000 | 15% | December 18, 2012 | December 18, 2015 |
| Total |  | $3359729 |  |  |  |

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[**Table of Contents**](#toc)

At December 31, 2024:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <u>Name</u> | <u>Relationship to the Company</u> | <u>Amount</u> | <u>Interest Rate</u> | <u>Start Date</u> | <u>Maturity</u> |
| ***Shor-term debt*** |  |  |  |  |  |
| Wei De Gang | CEO & Legal person of JXZD | $2435873 | 15% | May 31, 2011 | May 31, 2014 |
| Zhao Yan Ling | Former office manager of JXZD, wife of Zhou Zhi Bin | 14385 | 15% | January 1, 2011 | December 31, 2013 |
| Zhou Zhi Bin | Former CEO & Legal person of <br> JXZD | 6850 | 15% | January 1, 2011 | December 31, 2013 |
| Tang Yong Hong | Manager of JXZD | 295293 | 15% | February 28, 2015 | February 28, 2016 |
| Yan Chun Yan | Accountant of JXZD | 9231 | 15% | August 31, 2014 | August 31, 2015 |
| Victor Sun | Shareholder of ZDRI | 50282 |  | January 1, 2011 | On Demand |
| Victor Sun | Shareholder of ZDRI | 12000 | 15% | April 25, 2022 | May 2, 2023 |
| Victor Sun | Shareholder of ZDRI | 13000 | 15% | May 2, 2022 | May 2, 2023 |
| Victor Sun | Shareholder of ZDRI | 12000 | 15% | July 12, 2022 | July 12, 2023 |
| Victor Sun | Shareholder of ZDRI | 12500 | 15% | December 6, 2022 | December 5, 2023 |
| Victor Sun | Shareholder of ZDRI | 13500 | 15% | January 11, 2023 | January 11, 2024 |
| Victor Sun | Shareholder of ZDRI | 14500 | 15% | April 03, 2023 | April 03, 2024 |
| Victor Sun | Shareholder of ZDRI | 13850 | 15% | June 07, 2023 | June 06, 2024 |
| Victor Sun | Shareholder of ZDRI | 12000 | 15% | July 10, 2023 | July 10, 2024 |
| Victor Sun | Shareholder of ZDRI | 12500 | 15% | October 13, 2023 | October 13, 2024 |
| Victor Sun | Shareholder of ZDRI | 15000 | 15% | January 18, 2024 | January 18, 2025 |
| Victor Sun | Shareholder of ZDRI | 15000 | 15% | April 11, 2024 | April 11, 2025 |
| Victor Sun | Shareholder of ZDRI | 10000 | 15% | May 17, 2024 | June 16, 2025 |
| Victor Sun | Shareholder of ZDRI | 16500 | 15% | June 10, 2024 | June 10, 2025 |
| Victor Sun | Shareholder of ZDRI | 6500 | 15% | July 28, 2024 | July 28, 2025 |
| Victor Sun | Shareholder of ZDRI | 19500 | 15% | July 28, 2024 | July 28, 2025 |
| Victor Sun | Shareholder of ZDRI | 5000 | 15% | September 11, 2024 | September 11, 2025 |
| Victor Sun | Shareholder of ZDRI | 5000 | 15% | September 15, 2024 | September 15, 2025 |
| Victor Sun | Shareholder of ZDRI | 12000 | 15% | October 15, 2024 | October 15, 2025 |
| ***Current portion of long-term debt*** |  |  |  |  |  |
| Zhou Qiang | Office manager of JXZD | 274000 | 15% | December 18, 2012 | December 18, 2015 |
| Total |  | $3306264 |  |  |  |

---

As of December 31, 2025 and 2024, the Company had accrued interest payable to the related parties of $6,886,113 and $6,105,974, respectively. For the periods ended December 31, 2025 and 2024, the Company recorded interest expense to the related parties of $485,401 and $482,733, respectively. The Company has received no demands for repayment of matured debt instruments.

**Note 7. Accounts Payable and Accrued Liabilities** 

As of December 31, 2025 and 2024, the Company had accounts payable of $190,149 and $174,297 respectively. As of December 31, 2025 and 2024 the Company had accrued liabilities of $380,925 and $331,131.

**Note 8. Deferred Revenues**

As of December 31, 2025 and 2024, the Company had deferred revenue of $129,649 and $124,209 related to receipts of payment for unprocessed ore from Xinzhou Gold Co. Ltd, respectively, related to advances that the Company received from its customers. The Company has received no demands for repayment of deferred revenues.

**Note 9. Contingencies**

***Concentration of Credit Risk***

Substantially all of the Company's bank accounts are in banks located in The People's Republic of China and are not covered by protection similar to that provided by the FDIC on funds held in United States banks.

[**Table of Contents**](#toc)

**Note 10. Income Taxes**

The following table sets forth a reconciliation of income tax expense (benefit) at the federal statutory rate to recorded income tax expense (benefit) for the years ended December 31, 2025 and 2024

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| | | |
|:---|:---|:---|
|  | December 31, 2025 | December 31, 2024 |
| Tax provision (recovery) at effective tax rate (21%) | 96252 | 203100 |
| Change in valuation reserve | (96252) | (203100) |
| Tax provision (recovery), net | 0 | 0 |

---

As of December 31, 2025, the Company had approximately $2.8 million in net operating loss carry forwards for federal income tax purposes which expire at various times through 2039. Generally, these can be carried forward and applied against future taxable income at the tax rate applicable at that time. We are currently using a 21% effective tax rate for our projected available net operating loss carry-forward. However, as a result of potential stock offerings and stock issuance in connection with potential acquisitions, as well as the possibility of the Company not realizing its business plan objectives and having future taxable income to offset, the Company's use of these NOLs may be limited under the provisions of Section 382 of the Internal Revenue Code of 1986, as amended. The Company is in the process of evaluating the implications of Section 382 on its ability to utilize some or all of its NOLs.

Components of deferred tax assets and (liabilities) are as follows:

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| | | |
|:---|:---|:---|
|  | December 31, 2025 | December 31, 2024 |
| Net operating loss carry forwards available at effective tax rate (21%) | 590466 | 677600 |
| Valuation Allowances | (590466) | (677600) |
| Deferred Tax Asset | 0 | 0 |

---

In accordance with FASB ASC 740 "Income Taxes", valuation allowances are provided against deferred tax assets, if based on the weight of available evidence, some or all of the deferred tax assets may or will not be realized. The Company has evaluated its ability to realize some or all of the deferred tax assets on its balance sheet and has established a valuation allowance of approximately $590,466 at December 31, 2025. The Company is in the process of filing the Company tax returns for the open years 2023 through 2025.

**Note 11. Subsequent Events**

The Company does not have any events subsequent to December 31, 2025 through April 15, 2026, the date the financial statements were issued for disclosure consideration.

[**Table of Contents**](#toc)

**Item 9.** **Changes in and Disagreements With Accountants on Accounting and Financial Disclosure**

There were no disagreements related to accounting principles or practices, financial statement disclosure, internal controls or auditing scope or procedure during the two fiscal years and interim periods.

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| | |
|:---|:---|
| **Item 9A.** | **Controls and Procedures** |

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*Management's Report on Disclosure Controls and Procedures*

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our reports filed under the *Securities Exchange Act of 1934*, as amended, is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms, and that such information is accumulated and communicated to our management, including our president and chief executive officer (our principal executive officer) and our chief financial officer (our principal financial officer and principle accounting officer) to allow for timely decisions regarding required disclosure.

As of December 31, 2025, the end of our fiscal year covered by this report, we carried out an evaluation, under the supervision and with the participation of our sole officer (our principal executive officer, principal financial officer and principle accounting officer), of the effectiveness of the design and operation of our disclosure controls and procedures. Based on the foregoing, our sole officer concluded that our disclosure controls and procedures were not effective as of the end of the period covered by this annual report due to the material weakness in our control environment and financial reporting process consisting of the following:

1) lack of a functioning audit committee due to a lack of a majority of independent members and a lack of a majority of outside directors on our Board of Directors, resulting in ineffective oversight in the establishment and monitoring of required internal control and procedures;

2) inadequate segregation of duties consistent with control objectives;

3) ineffective controls over period end financial disclosure and reporting processes; and

4) lack of accounting personnel with adequate experience and training.

*Management's Report on Internal Control Over Financial Reporting*

Our management is responsible for establishing and maintaining adequate internal control over financial reporting responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of control procedures. The objectives of internal control include providing management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States. Our management assessed the effectiveness of our internal control over financial reporting as of December 31, 2025. In making this assessment, our management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission ("COSO") in *Internal Control-Integrated Framework*. Our management has concluded that, as of December 31, 2025, our internal control over financial reporting is not effective. Our management reviewed the results of their assessment with our directors due to the material weakness in our control environment and financial reporting process consisting of the following:

1) lack of a functioning audit committee due to an absence of independent committee members, and an absence of independent directors on our Board of Directors, resulting in ineffective oversight in the establishment and monitoring of required internal control and procedures;

2) inadequate segregation of duties consistent with control objectives;

3) ineffective controls over period end financial disclosure and reporting processes; and

4) lack of accounting personnel with adequate experience and training.

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This annual report does not include an attestation report of our company's registered public accounting firm regarding internal control over financial reporting. Management's report was not subject to attestation by our company's registered public accounting firm pursuant to temporary rules of the SEC that permit our company to provide only management's report in this annual report.

*Inherent Limitations on Effectiveness of Controls*

Internal control over financial reporting has inherent limitations which include but is not limited to the use of independent professionals for advice and guidance, interpretation of existing and/or changing rules and principles, segregation of management duties, scale of organization, and personnel factors. Internal control over financial reporting is a process which involves human diligence and compliance and is subject to lapses in judgment and breakdowns resulting from human failures. Internal control over financial reporting also can be circumvented by collusion or improper management override. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements on a timely basis, however these inherent limitations are known features of the financial reporting process and it is possible to design into the process safeguards to reduce, though not eliminate, this risk. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation. Projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

*Changes in Internal Control Over Financial Reporting*

There have been no changes in our internal controls over financial reporting that occurred during the year ended December 31, 2025 that have materially or are reasonably likely to materially affect, our internal controls over financial reporting.

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| | |
|:---|:---|
| **Item 9B.** | **Other Information** |

---

None.

**PART III**

**Item 10.** **Directors, Executive Officers and Corporate Governance**

All directors of our company hold office until the next annual meeting of the security holders or until their successors have been elected and qualified. The officers of our company are appointed by our board of directors and hold office until their death, resignation or removal from office. Our directors and executive officers, their ages, positions held, and duration as such, are as follows:

---

| | | | |
|:---|:---|:---|:---|
| <br> **Name** | <br> **Position Held**<br> **with the Company** | <br> **Age** | <br> **Date First Elected or Appointed** |
| Victor Sun | President, Chief Executive Officer, Treasurer, Secretary, Treasurer, and Director | 82 | May 5, 2023 |

---

**Business Experience**

The following is a brief account of the education and business experience during at least the past five years of each director, executive officer and key employee of our company, indicating the person's principal occupation during that period, and the name and principal business of the organization in which such occupation and employment were carried out.

[**Table of Contents**](#toc)

*Victor Sun - President, Chief Executive Officer, Treasurer, Secretary and Director*

Mr. Sun is by profession an engineer with over 50 years of engineering and management experience of which 14 years were with Lafarge Cement, where he directed the design of control and automation systems for all new and rehabilitation projects. Prior to co-founding Asia Pacific Concrete Inc. he worked for Monenco Agra as the instrumentation discipline engineer on the Hibernia Offshore Platform Project. Starting during his employment with Lafarge Cement and continuing to date, his experience in developing business in China dates back over forty years. He was a co-founder and vice-president of Sino-Canadian Resources Inc. in 1995, a Canadian gold company operating in China. He was President and CEO of AVIC Technologies Ltd, from 2001 to 2003, an NASD Bulletin Board listed company. He was also a director of IVG Enterprises Ltd., a China investment holding company listed on the TSX Venture Exchange. He continues to build relationships with Chinese contacts and has been instrumental in developing many joint venture projects in China. Mr. Sun is 80 years of age.

**Employment Agreements**

We have no formal employment agreements with any of our directors or officers.

**Family Relationships**

There are no family relationships between any of our directors, executive officers and proposed directors or executive officers.

**Involvement in Certain Legal Proceedings**

To the best of our knowledge, none of our directors or executive officers has, during the past ten years:

&nbsp;&nbsp;&nbsp;&nbsp;1. been convicted in a criminal proceeding or been subject to a pending criminal proceeding (excluding traffic
violations and other minor offences);

&nbsp;&nbsp;&nbsp;&nbsp;2. had any bankruptcy petition filed by or against the business or property of the person, or of any partnership,
corporation or business association of which he was a general partner or executive officer, either at the time of the bankruptcy filing
or within two years prior to that time;

&nbsp;&nbsp;&nbsp;&nbsp;3. been subject to any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any
court of competent jurisdiction or federal or state authority, permanently or temporarily enjoining, barring, suspending or otherwise
limiting, his involvement in any type of business, securities, futures, commodities, investment, banking, savings and loan, or insurance
activities, or to be associated with persons engaged in any such activity;

&nbsp;&nbsp;&nbsp;&nbsp;4. been found by a court of competent jurisdiction in a civil action or by the SEC or the Commodity Futures
Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended,
or vacated;

&nbsp;&nbsp;&nbsp;&nbsp;5. been the subject of, or a party to, any federal or state judicial or administrative order, judgment, decree,
or finding, not subsequently reversed, suspended or vacated (not including any settlement of a civil proceeding among private litigants),
relating to an alleged violation of any federal or state securities or commodities law or regulation, any law or regulation respecting
financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement
or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition order, or any law or regulation
prohibiting mail or wire fraud or fraud in connection with any business entity; or

&nbsp;&nbsp;&nbsp;&nbsp;6. been the subject of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated,
of any self-regulatory organization (as defined in Section 3(a)(26) of the Exchange Act (15 U.S.C. 78c(a)(26)), any registered entity
(as defined in Section 1(a)(29) of the Commodity Exchange Act (7 U.S.C. 1(a)(29)), or any equivalent exchange, association, entity or
organization that has disciplinary authority over its members or persons associated with a member.

[**Table of Contents**](#toc)

**Compliance with Section 16(A) of the Securities Exchange Act of 1934**

Our common stock is not registered pursuant to Section 12 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Accordingly, our officers, directors, and principal stockholders are not subject to the beneficial ownership reporting requirements of Section 16(a) of the Exchange Act.

**Code of Ethics**

We have not yet adopted a code of ethics that applies to our sole officer and director, or persons performing similar functions because we are in the start-up phase and are in the process of establishing our operations. We plan to adopt a code of ethics as and when our company grows to a sufficient size to warrant such adoption.

**Board and Committee Meetings**

Our board of directors held no formal meetings during the year ended December 31, 2025. All proceedings of the board of directors were conducted by resolutions consented to in writing by all the directors and filed with the minutes of the proceedings of the directors. Such resolutions consented to in writing by the directors entitled to vote on that resolution at a meeting of the directors are, according to the Delaware Corporation Law and our Bylaws, as valid and effective as if they had been passed at a meeting of the directors duly called and held.

**Nomination Process**

During the year ended December 31, 2025, and subsequently, we did not effect any material changes to the procedures by which our shareholders may recommend nominees to our board of directors. Our board of directors does not have a policy with regards to the consideration of any director candidates recommended by our shareholders. Our board of directors has determined that it is in the best position to evaluate our company's requirements as well as the qualifications of each candidate when the board considers a nominee for a position on our board of directors. If shareholders wish to recommend candidates directly to our board, they may do so by sending communications to the president of our company at the address on the cover of this annual report.

**Audit Committee and Audit Committee Financial Expert**

We do not currently have an audit committee or a committee performing similar functions. The board of directors as a whole participates in the review of financial statements and disclosure.

Our board of directors has determined that it does not have a member of its audit committee that qualifies as an "audit committee financial expert" as defined in Item 407(d)(5)(ii) of Regulation S-K, and is "independent" as the term is used in Item 7(d)(3)(iv) of Schedule 14A under the Securities Exchange Act of 1934, as amended.

We believe that the sole member of our board of directors is capable of analyzing and evaluating our financial statements and understanding internal controls and procedures for financial reporting. We believe that retaining an independent director who would qualify as an "audit committee financial expert" would be overly costly and burdensome and is not warranted in our circumstances given the early stages of our development and the fact that we have not generated any material revenues to date. In addition, we currently do not have nominating, compensation or audit committees or committees performing similar functions nor do we have a written nominating, compensation or audit committee charter. Our sole director does not believe that it is necessary to have such committees because believes the functions of such committees can be adequately performed by the sole member of our board of directors

[**Table of Contents**](#toc)

**Item 11.** **Executive Compensation**

The particulars of the compensation paid to the following persons:

&nbsp;&nbsp;&nbsp;&nbsp;(a) our principal executive officer;

&nbsp;&nbsp;&nbsp;&nbsp;(b) each of our two most highly compensated executive officers who were serving as executive officers at the
end of the years ended December 31, 2025 and 2024; and

&nbsp;&nbsp;&nbsp;&nbsp;(c) up to two additional individuals for whom disclosure would have been provided under (b) but for the fact
that the individual was not serving as our executive officer at the end of the years ended December 31, 2025 and 2024, who we will collectively
refer to as the named executive officers of our company, are set out in the following summary compensation table, except that no disclosure
is provided for any named executive officer, other than our principal executive officers, whose total compensation did not exceed $100,000
for the respective fiscal year:

---

| | | |
|:---|:---|:---|
| **SUMMARY COMPENSATION TABLE** | **SUMMARY COMPENSATION TABLE** | **SUMMARY COMPENSATION TABLE** |
| **Name**<br> **and Principal**<br> **Position** | **Year** | **Stock**<br> **Awards**<br> **($)** |
| Victor Sun<sup>(1)</sup><br> *President,*<br> *CEO,*<br> *Treasurer,*<br> *Secretary and*<br> *Director* | 2025<br> 2024 Nil<br> Nil | Nil<br> 120,000 (2) Nil<br> Nil |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Victor Sun was appointed President, CEO, Treasurer, Secretary and Director effective on May 5, 2023.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Represents 120,000 common shares issued to Mr. Sun as discretionary compensation at the price of $0.0001 per share.

 

There are no arrangements or plans in which we provide pension, retirement or similar benefits for directors or executive officers. Our directors and executive officers may receive share options at the discretion of our board of directors in the future. We do not have any material bonus or profit sharing plans pursuant to which cash or non-cash compensation is or may be paid to our directors or executive officers, except that share options may be granted at the discretion of our board of directors.

**Grants of Plan-Based Awards**

During the fiscal year ended December 31, 2025 we did not grant any stock options.

**Stock Option Plan**

Currently, we do not have a stock option plan in favor of any director, officer, consultant or employee of our company.

[**Table of Contents**](#toc)

**Option Grants**

We have not granted any options or stock appreciation rights to our named executive officers or directors since inception. We do not have any stock option plans.

**Management Agreements**

We have not entered into any management agreements with any of our executive officers.

**Compensation of Directors**

We do not have any agreements for compensating our directors for their services in their capacity as directors, although such directors are expected in the future to receive stock options to purchase shares of our common stock as awarded by our board of directors.

We have determined that none of our directors are independent directors, as that term is used in Item 7(d)(3)(iv)(B) of Schedule 14A under the *Securities Exchange Act of 1934*, as amended, and as defined by Rule 4200(a)(15) of the NASDAQ Marketplace Rules.

**Pension, Retirement or Similar Benefit Plans**

There are no arrangements or plans in which we provide pension, retirement or similar benefits to our directors or executive officers. We have no material bonus or profit sharing plans pursuant to which cash or non-cash compensation is or may be paid to our directors or executive officers, except that stock options may be granted at the discretion of the board of directors or a committee thereof.

**Compensation Committee**

We do not currently have a compensation committee of the board of directors or a committee performing similar functions. The board of directors as a whole participates in the consideration of executive officer and director compensation.

**Indebtedness of Directors, Senior Officers, Executive Officers and Other Management**

None of our directors or executive officers or any associate or affiliate of our company during the last two fiscal years is or has been indebted to our company by way of guarantee, support agreement, letter of credit or other similar agreement or understanding currently outstanding.

**Item 12.** **Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters**

The following table sets forth, as of April 13, 2026 certain information with respect to the beneficial ownership of our common shares by each shareholder known by us to be the beneficial owner of more than 5% of our common shares, as well as by each of our current directors and executive officers as a group. Each person has sole voting and investment power with respect to the shares of common stock, except as otherwise indicated. Beneficial ownership consists of a direct interest in the shares of common stock, except as otherwise indicated.

*Shareholders Holding over 5%*

---

| | | |
|:---|:---|:---|
| **Name and Address of Beneficial Owner** | **Amount and Nature of**<br> **Beneficial Ownership** | **Percentage**<br> **of Class<sup>(1)</sup>** |
| De Gang Wei<sup>(2)</sup><br> Gong Shan Zhen, DagongcunAPPX<br> Anhui Province 244011 China | 8,400,000<sup>(3)</sup> Common Shares | 7.57% |
| Zhi Bin Zhou<sup>(4)</sup><br> 5-37 Hao du guo ji hua yuan<br> qing pu qu, Xu jin zhen<br> Shanghai China | 7,000,000<sup>(5)</sup> Common Shares | 6.31% |
| Felicia Fitzpatrick<br> 4020 Rue Orly<br> Brossard Quebec J4Y 2K7 Canada | 8,919,233 Common Shares | 8.04% |
| ***Shareholders Holding Over 5%*** | ***24,319,233 Common Shares*** | ***21.92%*** |

---

[**Table of Contents**](#toc)

Directors and Officers

---

| | | |
|:---|:---|:---|
| **Name and Address of Beneficial Owner** | **Amount and Nature of**<br> **Beneficial Ownership** | **Percentage**<br> **of Class<sup>(1)</sup>** |
| Wen Mei Tu<sup>(6)</sup><br> 7308 Rostand<br> Brossard Quebec J4X 2R6 Canada<br>| 30,035,100 Common Shares | 27.07% |
| Qiang Zhou(<sup>7)</sup><br> No. 6 Long 774<br> Chang Le Lu, Jing An Qu<br> Shanghai China | 5,140,000<sup>(8)</sup> Common Shares | 4.63% |
| Victor Sun<sup>(9)</sup> | 456,150 Common Shares | (9) |
| ***Directors and Executive Officers as a Group*** | **35,631,250 *Common Shares*** | ***32.11%*** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Under Rule 13d-3, a beneficial owner of a security includes any person who, directly or indirectly, through
any contract, arrangement, understanding, relationship, or otherwise has or shares: (i) voting power, which includes the power to vote,
or to direct the voting of shares; and (ii) investment power, which includes the power to dispose or direct the disposition of shares.
Certain shares may be deemed to be beneficially owned by more than one person (if, for example, persons share the power to vote or the
power to dispose of the shares). In addition, shares are deemed to be beneficially owned by a person if the person has the right to acquire
the shares (for example, upon exercise of an option) within 60 days of the date as of which the information is provided. In computing
the percentage ownership of any person, the amount of shares outstanding is deemed to include the amount of shares beneficially owned
by such person (and only such person) by reason of these acquisition rights. As a result, the percentage of outstanding shares of any
person as shown in this table does not necessarily reflect the person's actual ownership or voting power with respect to the number
of shares of common stock actually outstanding on March 29, 2024. As of April 13, 2025 there were 110,967,348 common shares of our company's common stock issued and outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(2) De Gang Wei served as Chairman and as a Director of our Company from August 13, 2012 to May 9, 2018.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Includes 2,200,000 common shares held by his spouse Ms. Wei.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Zhi Bin Zhou served as a Director of our Company from August 13, 2012 to May 9, 2018.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Includes 1,000,000 common shares held by his spouse Ms. Yan Ling Zhao.

&nbsp;&nbsp;&nbsp;&nbsp;(6) Wen Mei Tu served as President, Chief Executive Officer, Treasurer, Secretary, and as a Director of our Company from August 13, 2012
to May 5, 2023.

&nbsp;&nbsp;&nbsp;&nbsp;(7) Qiang Zhou was appointed as a Director of our Company on August 13, 2012 and ceased to serve as a director
during fiscal 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(8) Includes 2,100,000 common shares held by his wife Ms. Yao Zi Wang.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) Less than 1%.

**Changes in Control**

We are unaware of any contract or other arrangement or provisions of our Articles or Bylaws the operation of which may at a subsequent date result in a change of control of our company. There are not any provisions in our Articles or Bylaws, the operation of which would delay, defer, or prevent a change in control of our company.

**Item 13.** **Certain Relationships and Related Transactions, and Director Independence**

Except as disclosed herein, no director, executive officer, shareholder holding at least 5% of shares of our common stock, or any family member thereof, had any material interest, direct or indirect, in any transaction, or proposed transaction since the year ended December 31, 2025, in which the amount involved in the transaction exceeded or exceeds the lesser of $120,000 or one percent of the average of our total assets at the year-end for the last three completed fiscal years.

***Accounts payable***

As of December 31, 2025 and 2024, the Company had payables of $0 and $733,465, respectively, to Xinzhou Gold. These payables bear no interest, are unsecured and are due on demand.

[**Table of Contents**](#toc)

***Short-term debt***

As of December 31, 2025 and 2024, the Company had short-term debts to related parties of $3,359,729 and $3,306,264, respectively. The details of the loans are described as below.

At December 31, 2025:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <br><u>Name</u> | <u>Relationship to the Company</u> | <u>Amount</u> | <u>Interest Rate</u> | <u>Start Date</u> | <u>Maturity</u> |
| ***Shor-term debt*** |  |  |  |  |  |
| Wei De Gang | CEO & Legal person of JXZD | $2442454 | 15% | May 31, 2011 | May 31, 2014 |
| Zhao Yan Ling | Former office manager of JXZD, <br> wife of Zhou Zhi Bin | 15015 | 15% | January 1, 2011 | December 31, 2013 |
| Zhou Zhi Bin | Former CEO & Legal person of <br> JXZD | 7150 | 15% | January 1, 2011 | December 31, 2013 |
| Tang Yong Hong | Manager of JXZD | 293925 | 15% | February 28, 2015 | February 28, 2016 |
| Yan Chun Yan | Accountant of JXZD | 335 | 15% | August 31, 2014 | August 31, 2015 |
| Victor Sun | Shareholder of ZDRI | 12000 | 15% | April 25, 2022 | May 2, 2023 |
| Victor Sun | Shareholder of ZDRI | 13000 | 15% | May 2, 2022 | May 2, 2023 |
| Victor Sun | Shareholder of ZDRI | 12000 | 15% | July 12, 2022 | July 12, 2023 |
| Victor Sun | Shareholder of ZDRI | 12500 | 15% | December 6, 2022 | December 5, 2023 |
| Victor Sun | Shareholder of ZDRI | 13500 | 15% | January 11, 2023 | January 11, 2024 |
| Victor Sun | Shareholder of ZDRI | 14500 | 15% | April 03, 2023 | April 03, 2024 |
| Victor Sun | Shareholder of ZDRI | 13850 | 15% | June 07, 2023 | June 06, 2024 |
| Victor Sun | Shareholder of ZDRI | 12000 | 15% | July 10, 2023 | July 10, 2024 |
| Victor Sun | Shareholder of ZDRI | 12500 | 15% | October 13, 2023 | October 13, 2024 |
| Victor Sun | Shareholder of ZDRI | 15000 | 15% | January 18, 2024 | January 18, 2025 |
| Victor Sun | Shareholder of ZDRI | 15000 | 15% | April 11, 2024 | April 11, 2025 |
| Victor Sun | Shareholder of ZDRI | 10000 | 15% | May 17, 2024 | June 16, 2025 |
| Victor Sun | Shareholder of ZDRI | 16500 | 15% | June 10, 2024 | June 10, 2025 |
| Victor Sun | Shareholder of ZDRI | 6500 | 15% | July 28, 2024 | July 28, 2025 |
| Victor Sun | Shareholder of ZDRI | 19500 | 15% | July 28, 2024 | July 28, 2025 |
| Victor Sun | Shareholder of ZDRI | 5000 | 15% | September 11, 2024 | September 11, 2025 |
| Victor Sun | Shareholder of ZDRI | 5000 | 15% | September 15, 2024 | September 15, 2025 |
| Victor Sun | Shareholder of ZDRI | 12000 | 15% | October 15, 2024 | October 15, 2025 |
| Victor Sun | Shareholder of ZDRI | 12000 | 15% | January 10, 2025 | January 11, 2026 |
| Victor Sun | Shareholder of ZDRI | 12500 | 15% | February 12, 2025 | February 12, 2026 |
| Victor Sun | Shareholder of ZDRI | 10000 | 15% | April 16, 2025 | March 15, 2026 |
| Victor Sun | Shareholder of ZDRI | 18000 | 15% | July 15, 2025 | July 15, 2026 |
| Victor Sun | Shareholder of ZDRI | 15000 | 15% | August 18, 2025 | August 17, 2026 |
| Victor Sun | Shareholder of ZDRI | 13500 | 15% | September 24, 2025 | September 24, 2025 |
| Victor Sun | Shareholder of ZDRI | 13500 | 15% | November 18, 2025 | November 18, 2026 |
| ***Current portion of long-term debt*** |  |  |  |  |  |
| Zhou Qiang | Office manager of JXZD | 286000 | 15% | December 18, 2012 | December 18, 2015 |
| Total |  | $3359729 |  |  |  |

---

[**Table of Contents**](#toc)

At December 31, 2024:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <br><u>Name</u> | <u>Relationship to the Company</u> | <u>Amount</u> | <u>Interest Rate</u> | <u>Start Date</u> | <u>Maturity</u> |
| ***Shor-term debt*** |  |  |  |  |  |
| Wei De Gang | CEO & Legal person of JXZD | $2435873 | 15% | May 31, 2011 | May 31, 2014 |
| Zhao Yan Ling | Former office manager of JXZD, <br> wife of Zhou Zhi Bin | 14385 | 15% | January 1, 2011 | December 31, 2013 |
| Zhou Zhi Bin | Former CEO & Legal person of <br> JXZD | 6850 | 15% | January 1, 2011 | December 31, 2013 |
| Tang Yong Hong | Manager of JXZD | 295293 | 15% | February 28, 2015 | February 28, 2016 |
| Yan Chun Yan | Accountant of JXZD | 9231 | 15% | August 31, 2014 | August 31, 2015 |
| Victor Sun | Shareholder of ZDRI | 50282 |  | January 1, 2011 | On Demand |
| Victor Sun | Shareholder of ZDRI | 12000 | 15% | April 25, 2022 | May 2, 2023 |
| Victor Sun | Shareholder of ZDRI | 13000 | 15% | May 2, 2022 | May 2, 2023 |
| Victor Sun | Shareholder of ZDRI | 12000 | 15% | July 12, 2022 | July 12, 2023 |
| Victor Sun | Shareholder of ZDRI | 12500 | 15% | December 6, 2022 | December 5, 2023 |
| Victor Sun | Shareholder of ZDRI | 13500 | 15% | January 11, 2023 | January 11, 2024 |
| Victor Sun | Shareholder of ZDRI | 14500 | 15% | April 03, 2023 | April 03, 2024 |
| Victor Sun | Shareholder of ZDRI | 13850 | 15% | June 07, 2023 | June 06, 2024 |
| Victor Sun | Shareholder of ZDRI | 12000 | 15% | July 10, 2023 | July 10, 2024 |
| Victor Sun | Shareholder of ZDRI | 12500 | 15% | October 13, 2023 | October 13, 2024 |
| Victor Sun | Shareholder of ZDRI | 15000 | 15% | January 18, 2024 | January 18, 2025 |
| Victor Sun | Shareholder of ZDRI | 15000 | 15% | April 11, 2024 | April 11, 2025 |
| Victor Sun | Shareholder of ZDRI | 10000 | 15% | May 17, 2024 | June 16, 2025 |
| Victor Sun | Shareholder of ZDRI | 16500 | 15% | June 10, 2024 | June 10, 2025 |
| Victor Sun | Shareholder of ZDRI | 6500 | 15% | July 28, 2024 | July 28, 2025 |
| Victor Sun | Shareholder of ZDRI | 19500 | 15% | July 28, 2024 | July 28, 2025 |
| Victor Sun | Shareholder of ZDRI | 5000 | 15% | September 11, 2024 | September 11, 2025 |
| Victor Sun | Shareholder of ZDRI | 5000 | 15% | September 15, 2024 | September 15, 2025 |
| Victor Sun | Shareholder of ZDRI | 12000 | 15% | October 15, 2024 | October 15, 2025 |
| ***Current portion of long-term debt*** |  |  |  |  |  |
| Zhou Qiang | Office manager of JXZD | 274000 | 15% | December 18, 2012 | December 18, 2015 |
| Total |  | $3306264 |  |  |  |

---

[**Table of Contents**](#toc)

As of December 31, 2025 and 2024, the Company had accrued interest payable to the related parties of $6,886,113 and $6,105,974, respectively. For the periods ended December 31, 2025 and 2024, the Company recorded interest expense to the related parties of $485,401 and $482,733, respectively. The Company has received no demands for repayment of matured debt instruments.

**Director Independence**

We currently act with one director, Victor Sun.

We have determined that Victor Sun is not an independent director, as that term is used in Rule 5605 (a)(2) of the Rules of National Association of Securities Dealers.

Currently our audit committee consists of our entire board of directors. We currently do not have nominating, compensation committees or committees performing similar functions. There has not been any defined policy or procedure requirements for shareholders to submit recommendations or nomination for directors.

From inception to present date, we believe that the members of our audit committee and the board of directors have been and are collectively capable of analyzing and evaluating our financial statements and understanding internal controls and procedures for financial reporting.

The offices, located in a suburb of Montreal, are not under written lease but are provided by Mr. Sun without cost on a month to month basis. f

**Item 14.** **Principal Accounting Fees and Services**

The aggregate fees billed for the most recently completed fiscal year ended December 31, 2025 and for fiscal year ended December 31, 2024 for professional services rendered by the principal accountant for the audit of our annual financial statements and review of the financial statements included in our quarterly reports on Form 10-Q and services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for these fiscal periods were as follows:

---

| | | |
|:---|:---|:---|
|  | **Year Ended** | **Year Ended** |
| | **December 31, 2025** | **December 31, 2024** |
| Audit Fees | $35000 | $35000 |
| Audit Related Fees | Nil | Nil |
| Tax Fees | Nil | Nil |
| All Other Fees | Nil | Nil |
| Total | $35000 | $35000 |

---

Our board of directors pre-approves all services provided by our independent auditors. All of the above services and fees were reviewed and approved by the board of directors either before or after the respective services were rendered.

Our board of directors has considered the nature and amount of fees billed by our independent auditors and believes that the provision of services for activities unrelated to the audit is compatible with maintaining our independent auditors' independence.

[**Table of Contents**](#toc)

**PART IV**

**Item 15.** **Exhibits, Financial Statement Schedules**

&nbsp;&nbsp;&nbsp;&nbsp;(a) Financial Statements

&nbsp;&nbsp;&nbsp;&nbsp;(1) Financial statements for our company are listed in the index under Item 8 of this document.

&nbsp;&nbsp;&nbsp;&nbsp;(2) All financial statement schedules are omitted because they are not applicable, not material or the required
information is shown in the financial statements or notes thereto.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Exhibits

---

| | |
|:---|:---|
| **Exhibit** <br> **Number** | **Description** |
| **(3)** | **Articles of Incorporation and Bylaws** |
| 3.1 | [Articles of Incorporation filed with the Secretary of State of the State of Delaware on September 6, 1996](https://www.sec.gov/Archives/edgar/data/1594204/000121465914000136/ex3_1.htm) (Incorporated by reference to our Registration Statement on Form S-1 filed January 6, 2014) |
| 3.2 | [Bylaws](https://www.sec.gov/Archives/edgar/data/1594204/000121465914000136/ex3_5.htm) (Incorporated by reference to our Registration Statement on Form S-1 filed January 6, 2014) |
| 3.3 | [Certificate of Amendment of Certificate of Incorporation filed with the Secretary of State of the State of Delaware on November 4, 1996](https://www.sec.gov/Archives/edgar/data/1594204/000121465914000136/ex3_2.htm)(Incorporated by reference to our Registration Statement on Form S-1 filed January 6, 2014) |
| 3.4 | [Certificate of Amendment of Certificate of Incorporation filed with the Secretary of State of the State of Delaware on February 28, 2012](https://www.sec.gov/Archives/edgar/data/1594204/000121465914000136/ex3_3.htm) (Incorporated by reference to our Registration Statement on Form S-1 filed January 6, 2014) |
| 3.5 | [Certificate of Amendment of Certificate of Incorporation filed with the Secretary of State of the State of Delaware on March 20, 2012](https://www.sec.gov/Archives/edgar/data/1594204/000121465914000136/ex3_4.htm)(Incorporated by reference to our Registration Statement on Form S-1 filed January 6, 2014) |
| 3.6 | [Certificate of Ownership and Merger filed with the Secretary of State of the State of Delaware on October 28, 2013](https://www.sec.gov/Archives/edgar/data/1594204/000121465914000136/ex3_6.htm) (Incorporated by reference to our Registration Statement on Form S-1 filed January 6, 2014) |
| **(10)** | **Material Contracts** |
| 10.1 | [The Contract for Sino-Foreign Equity Joint Venture dated as of November 12, 2004 by and between Zhen Ding Corporation and Jing Xiang Xin Zhou Gold Co. Ltd.](https://www.sec.gov/Archives/edgar/data/1594204/000121465914000136/ex10_1.htm)(Incorporated by reference to our Registration Statement on Form S-1 filed January 6, 2014) |
| 10.2 | [Articles of Association for Zhen Ding JV dated as of October 12, 2006 by and between Z&W Zhen Ding Corporation and Jing Xiang Xin Zhou Gold Co. Ltd.](https://www.sec.gov/Archives/edgar/data/1594204/000121465915001277/ex10_2.htm) (Incorporated by reference to our Registration Statement on Form S-1/A filed on February 13, 2015) |
| 10.3 | [Supply Contract of Gold Concentrate Fines dated July 20, 2012 between Zhen Ding Mining Co., Ltd. and Yantai Jin Ao Metallurgical Co. Ltd.](https://www.sec.gov/Archives/edgar/data/1594204/000121465915001277/ex10_3.htm)(Incorporated by reference to our Registration Statement on Form S-1/A filed on February 13, 2015) |
| 10.4 | [Mining License No. C3400002009114110049341 dated November 5, 2014 in favor of Jing Xiang Xin Zhou Gold Co. Ltd.](https://www.sec.gov/Archives/edgar/data/1594204/000121465915001277/ex10_4.htm)(Incorporated by reference to our Registration Statement on Form S-1/A filed on February 13, 2015) |
| 10.5 | [Gold Mining License No. (2005) 042 in favor of Jing Xiang Xin Zhou Gold Co. Ltd.](https://www.sec.gov/Archives/edgar/data/1594204/000121465915001277/ex10_5.htm) (Incorporated by reference to our Registration Statement on Form S-1/A filed on February 13, 2015) |
| 10.6 | [Form of Loan Agreements between Wen Mei Tu and Zhen Ding Resources Inc.](https://www.sec.gov/Archives/edgar/data/1594204/000121465915001277/ex10_6.htm)(Incorporated by reference to our Registration Statement on Form S-1/A filed on February 13, 2015) |
| 10.7 | [Business License Registration No. 3425004000003061(1-1) dated November 17, 2014 in favor of Zhen Ding Mining Co. Ltd.](https://www.sec.gov/Archives/edgar/data/1594204/000121465915004764/ex10_7.htm)(Incorporated by reference to our Registration Statement on Form S-1/A filed June 9, 2015) |
| **(21)** | **List of Subsidiaries** |
| 21.1 | Z&W Zhen Ding Corporation, a California corporation (100% held) |
| 21.2 | Zhen Ding Mining Co. Ltd., a PRC corporation (70% held) |
| **(31)** | **Rule 13a-14 (d)/15d-14d) Certifications** |
| 31.1\* | [Section 302 Certification by the Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer](ex31_1.htm) |
| **(32)** | **Section 1350 Certifications** |
| 32.1\* | [Section 906 Certification by the Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer](ex32_1.htm) |
| **101**\* | **Interactive Data File** |
| 101.INS | XBRL Instance Document |
| 101.SCH | XBRL Taxonomy Extension Schema Document |
| 101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document |
| 101.DEF | XBRL Taxonomy Extension Definition Linkbase Document |
| 101.LAB | XBRL Taxonomy Extension Label Linkbase Document |
| 101.PRE | XBRL Taxonomy Extension Presentation Linkbase Document |

---

\* *Filed herewith.*

[**Table of Contents**](#toc)

**SIGNATURES**

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.

---

| | |
|:---|:---|
|  | **ZHEN DING RESOURCES INC.** |
|  | (Registrant) |
| Dated: April 15, 2026 | /s/Victor Sun |
|  | Victor Sun |
|  | President, Treasurer, Secretary and Director |
|  | (Principal Executive Officer, Principal Financial Officer<br> and Principal Accounting Officer) |

---

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| Dated: April 15, 2026 | /s/ Victor Sun |
|  | **Victor Sun** |
|  | President, Treasurer, Secretary and Director |
|  | (Principal Executive Officer) |

---

## Exhibit 31.1

**EXHIBIT 31.1**

**CERTIFICATION PURSUANT TO**<br> **18 U.S.C. ss 1350, AS ADOPTED PURSUANT TO**<br> **SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002**

I, Victor Sun, certify that:

1. I have reviewed this Annual Report on Form 10-K of Zhen Ding Resources Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or
omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this
report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant
as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial
reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures
to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being
prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented
in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered
by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Disclosed in this report any change in the registrant's internal control over financial reporting
that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual
report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial
reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation
of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of
directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. All significant deficiencies and material weaknesses in the design or operation of internal control
over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize
and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Any fraud, whether or not material, that involves management or other employees who have a significant
role in the registrant's internal control over financial reporting.

---

| |
|:---|
| Date: April 15, 2026 |
| */s/Victor Sun* |
| Victor Sun<br> President, Chief Executive Officer, Chief Financial Officer and Director<br> (Principal Executive Officer, Principal Financial Officer and Principal <br> Accounting Officer) |

---

## Exhibit 32.1

**EXHIBIT 32.1**

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

I, Victor Sun, hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) the Annual Report on Form 10-K of Zhen Ding Resources Inc. for the year ended December 31, 2025 (the "Report")
fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) the information contained in the Report fairly presents, in all material respects, the financial condition
and results of operations of Zhen Ding Resources Inc.

---

| | |
|:---|:---|
| Dated: April 15, 2026 |  |
|  | */s/Victor Sun* |
|  | Victor Sun |
|  | President, Chief Executive Officer, Chief Financial Officer and Director |
|  | (Principal Executive Officer, Principal Financial Officer and <br> Principal Accounting Officer) |
|  | Zhen Ding Resources Inc. |

---

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to Zhen Ding Resources Inc. and will be retained by Zhen Ding Resources Inc. and furnished to the Securities and Exchange Commission or its staff upon request.