Nongfu Shop Digital New Retail Co., Ltd., formerly known as Yong Bai Chao New Retail Corporation, reported no revenue for the three months ending March 31, 2025, consistent with the same period in 2024. The company incurred a net loss of $10,466 for the first quarter of 2025, a decrease from the $17,833 loss reported in the same quarter of the previous year. This reduction in losses is attributed to a 41.3% decrease in operating expenses, which fell from $17,833 to $10,466, primarily due to lower professional fees and other compliance-related costs.
The company's balance sheet as of March 31, 2025, shows total liabilities of $156,919, an increase from $146,453 at the end of 2024. The accumulated deficit also grew to $3,725,968 from $3,715,502. The company has no cash on hand and reported a working capital deficit of $156,919, raising concerns about its ability to continue as a going concern over the next twelve months. Management indicated that the company is currently focused on seeking a new and profitable operating business, as it has no substantial business operations at present.
In terms of organizational changes, the company underwent a name change effective April 11, 2025, to Nongfu Shop Digital New Retail Co., Ltd. This change was approved by the Board of Directors on January 10, 2025. The company has also seen significant turnover in its executive team, with multiple resignations and appointments occurring in early 2024. Daohong Yuan currently serves as both the Chief Executive Officer and Chief Financial Officer.
Despite the lack of revenue-generating activities, the company is actively seeking opportunities for acquisition to establish a profitable business model. Management has indicated that future expenses will primarily consist of legal, accounting, and filing fees necessary for maintaining its public company status. The company has not engaged in any unregistered sales of equity securities during the quarter and has no off-balance sheet arrangements.
Looking ahead, Nongfu Shop Digital New Retail Co., Ltd. anticipates continued negative cash flow from operations for the remainder of 2025. The company plans to rely on equity sales and shareholder advances to fund its operations, although there is no assurance that it will successfully raise additional capital. The management's focus remains on identifying a viable business opportunity that can lead to sustainable growth and profitability.
About Yong Bai Chao New Retail Corp
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