Tancheng Group Co., Ltd. reported a revenue of $144,733 for the first quarter of 2025, a decrease of 8.2% from $157,625 in the same period of 2024. The decline in revenue was attributed to a 10.2% drop in the quantity of ornament and adornment products sold, from 492 pieces in Q1 2024 to 442 pieces in Q1 2025. The company's cost of revenue also decreased, falling to $105,221 from $115,949 year-over-year, resulting in a gross profit of $39,512, down from $41,676. Despite a slight increase in gross margin from 26.4% to 27.3%, Tancheng Group reported a net loss of $122,207, compared to a loss of $107,792 in the prior year.
The company's financial position showed a total asset value of $1,497,775 as of March 31, 2025, down from $1,573,903 at the end of 2024. Current liabilities increased slightly to $3,081,624 from $3,030,046, leading to a working capital deficiency of $1,672,499. Tancheng Group's accumulated deficit rose to $1,823,593, reflecting ongoing operational challenges. The company’s cash and cash equivalents decreased significantly to $19,836 from $100,653 at the end of the previous fiscal year.
In terms of operational developments, Tancheng Group has focused on enhancing its product offerings and maintaining a cost-effective structure. The company has been strategically shifting towards selling higher-margin products, which management believes will improve gross profit and operating cash flows in the future. However, the competitive landscape has intensified, leading to increased price sensitivity among customers, which has impacted sales volume.
Looking ahead, Tancheng Group's management is optimistic about future performance, citing expectations for improved financial health through sustainable operating cash flows. The company plans to continue leveraging financial support from related parties to meet its operational needs. Despite the current challenges, management believes that with the right strategies in place, the company can navigate its financial difficulties and work towards profitability in the coming quarters.
About TANCHENG GROUP CO., LTD.
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