v3.26.1
DISCONTINUED OPERATIONS
 12 Months Ended
Dec. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
DISCONTINUED OPERATIONS

NOTE 11 – DISCONTINUED OPERATIONS

 

Management intended to change its operation focus and entered into an agreement with a counterparty to sell certain assets and liabilities of HWF subsequently on March 27, 2024. By selling off these assets and liabilities, management is signaling a shift away from aquaculture trading, which meets the criteria to be reported as a discontinued operation and HWF has been identified as a discontinued operation as a result. Such assets and liabilities are classified as assets and liabilities held for sale, which was closed on March 31, 2024.

 

Total assets and liabilities from discontinued operations as of March 31, 2024 are as below:

 

   March 31, 2024 
     
ASSETS     
Current assets     
Cash and cash equivalents  $— 
Other receivable   — 
Assets held for sales – accounts receivable and other   471,802 
Total current assets  $471,802 
TOTAL ASSETS FROM DISCONTINUED OPERATIONS  $471,802 
      
LIABILITIES     
Current liabilities:     
Liabilities held for sale - accounts payable and accrued liabilities  $475,206 
Other accrued liabilities   — 
Total current liabilities   475,206 
TOTAL LIABILITIES FROM DISCONTINUED OPERATIONS  $475,206 

 

 

WENYUAN GROUP CORP. AND SUBSIDIARY

(FORMERLY KNOWN AS LONGWEN GROUP CORP. AND SUBSIDIARY)

 

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

 

NOTE 11 – DISCONTINUED OPERATIONS (CONTINUED)

 

For the year ended December 31, 2024 results of operations from HWF are as below:

 

   2024 
     
Revenues    
Aquaculture product sales$ — 
Total revenues  — 
   — 
Cost of revenues  — 
Cost of Aquaculture product  — 
Total cost of revenues  — 
Gross profit  — 
     
Operating expenses:    
Selling, general and administrative expenses  — 
Total operating expenses  — 
   — 
Income from operations of discontinued operations  — 
     
Other expenses:     
Other expenses, net   13 
Total other expenses, net   13 
      
Net loss before income tax from discontinued operations   (13)
Income tax recovery (expense)   3,141 
Net gain (loss) from discontinued operations, net of taxes before loss from sale of discontinued operations   3,128 
Gain from sale of discontinued operations, net of taxes   3,404 
Gain (Loss) from discontinued operations  $6,532 

 

 

WENYUAN GROUP CORP. AND SUBSIDIARY

(FORMERLY KNOWN AS LONGWEN GROUP CORP. AND SUBSIDIARY)

 

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS