M&A - Longwen Group Corp.

Form Type: 10-K

Filing Date: 2025-04-15

Corporate Action: Acquisition

Type: New

Accession Number: 000164117225004790

Filing Summary: Wenyuan Group Corp., formerly known as Longwen Group Corp., filed this annual report under Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2024. The company underwent significant changes and strategic acquisitions during this period, including the acquisition of Hangzhou Wenyuan Enterprise Management Co., Ltd. on February 23, 2022, which was transformed into a wholly-owned subsidiary. Additionally, Wenyuan acquired Hangzhou Wenyuan Art and Culture Co., Ltd. (HWAC) in an agreement dated October 11, 2022. Management highlights the company's strategic shift towards cultural and health product sales, with emphasis on e-commerce growth through new online platforms. The management has recognized challenges, including the effects of the COVID-19 pandemic on their business operations and the subsequent discontinuation of their aquaculture sales segment due to lower-than-expected performance. As of April 15, 2025, the company had 80,884,279 shares of common stock outstanding and continued to maintain its status as a smaller reporting company. The document extensively discusses the corporate history, governance changes, business strategy, and risk factors that could impact future operations, including competition and market dynamics.