UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the quarterly period ended ~~September~~March 3031, ~~2022~~ 2023

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the transition period from ____________ to ____________

Commission File Number ~~333-239929~~

KENONGWO GROUP US, INC.

(Exact name of registrant as specified in its charter)

Nevada		37-1914208
(State or other jurisdiction of		(IRS Employer
incorporation or organization)		Identification No.)

Yangjia Group, Xiaobu Town Yuanzhou District, Yichun City Jiangxi Province, China		336000
(Address of principal executive offices)		(Zip Code)

+86 - 400-915-2178

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act: None

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
N/A		N/A		N/A

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 past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically ~~on its corporate Web site, if any,~~ 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). Yes ☒ No ☐

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. (Check One):

Large accelerated filer ☐

Accelerated filer ☐

Non-accelerated filer ☒

Smaller reporting company ☒

Emerging growth company ☒

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 is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of ~~November~~July 1927, ~~2022~~2023, there were 1101,882,~~482~~485 shares of common stock, $0.0001 par value per share, issued and outstanding.

KENONGWO GROUP US, INC. AND SUBSIDIARIES

TABLE OF CONTENTS

		~~Page~~	Page
PART I FINANCIAL INFORMATION		1	1
Item 1.	Financial Statements	1	1
	Condensed Consolidated Balance Sheets as of September 30, 2022 and December 31, 2021	1
	Condensed Consolidated Balance Sheets as of March 31, 2023 and December 31, 2022 (Unaudited)		1
	Condensed Consolidated Statements of Operations and Comprehensive Loss for the Nine Months Ended September 30, 2022 and 2021	2
	Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for the Three Months Ended March 31, 2023 and 2022 (Unaudited)		2
	Condensed Consolidated Statements of Stockholders’ Deficit for the Nine Months Ended September 30, 2022 and 2021	3
	Condensed Consolidated Statements of Stockholders’ Equity for the Three Months Ended March 31, 2023 and 2022 (Unaudited)		3
	Condensed Consolidated Statements of Cash Flows for the Nine Months September 30, 2022 and 2021	4
	Condensed Consolidated Statements of Cash Flows for the Three Months March 31, 2023 and 2022 (Unaudited)		4
	Notes to Condensed Consolidated Financial Statements	5
	Notes to Condensed Consolidated Financial Statements (Unaudited)		5
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	17	18
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	23	23
Item 4.	Controls and Procedures	23	23
PART II OTHER INFORMATION		24	25
Item 6.	Exhibits	24	25

~~Special~~PART I ~~Note~~- ~~Regarding~~FINANCIAL ~~Forward-Looking Statements~~INFORMATION

~~This Quarterly Report includes “forward-looking~~ITEM statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Exchange Act that are not historical facts, and involve risks and uncertainties that could cause actual results to differ materially from those expected and projected1. ~~All~~FINANCIAL statements, other than statements of historical fact included in this Form 10-Q including, without limitation, statements in this “Management’s Discussion and Analysis of Financial Condition and Results of Operations” regarding the Company’s financial position, business strategy and the plans and objectives of management for future operations, are forward-looking statements. Words such as “expect,” “believe,” “anticipate,” “intend,” “estimate,” “seek” and variations and similar words and expressions are intended to identify such forward-looking statements. Such forward-looking statements relate to future events or future performance, but reflect management’s current beliefs, based on information currently available. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors section of the Company’s Annual Report on Form 10-K, filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 15, 2022. The Company’s securities filings can be accessed on the EDGAR section of the SEC’s website at www.sec.gov. Except as expressly required by applicable securities law, the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.STATEMENTS

iiKENONGWO GROUP US, INC.

~~PART~~UNAUDITED CONDENSED ICONSOLIDATED –BALANCE ~~FINANCIAL INFORMATION~~SHEETS

~~ITEM~~(Stated in 1.US ~~FINANCIAL STATEMENTS~~Dollars)

KENONGWO GROUP US, INC.

	March 31,			December 31,
	2023			2022

ASSETS
Current Assets:
Cash and cash equivalents	$	6,745		$	234,048
Accounts receivable, net		1,987,433			1,517,700
Other receivables, net		242,291			189,118
Inventories		624,385			571,658
Advances and prepayments to suppliers		96,100			34,475
Total Current Assets		2,956,954			2,546,999

Plant and equipment, net		1,785,474			1,818,210
Construction in progress, net		97,551			96,249
Intangible assets, net		42,722			44,345
Total Non-current Assets		1,925,747			1,958,804
Total Assets	$	4,882,701		$	4,505,803

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current Liabilities:
Accounts payable	$	813,989		$	912,608
Accrued expenses and other payables		1,265,141			1,074,183
Taxes payable		5,899			7,584
Advances from customers		79,906			33,510
Amount due to shareholder		8,088			234,849
Due to related parties		55,299			54,562
Total Current Liabilities		2,228,322			2,317,296

Non-Current Liabilities
Long-term loans		436,573			430,750
Total Liabilities		2,664,895			2,748,046

Stockholders’ Equity:
Common Stock, $0.0001 par value, 110,000,000 shares authorized; 101,882,485 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively		10,188			10,188
Paid in capital		3,126,612			3,126,612
Accumulated deficit		(1,052,082	)		(1,501,803	)
Accumulated other comprehensive income		133,088			122,760
Total Stockholders’ Equity		2,217,806			1,757,757
Total Liabilities and Stockholders’ Equity	$	4,882,701		$	4,505,803

~~UNAUDITED~~The accompanying ~~CONDENSED~~notes ~~CONSOLIDATED~~are ~~BALANCE~~an ~~SHEETS~~integral part of these condensed consolidated financial statements.

~~(Stated in US Dollars)~~1

				December 31,
	September 30, 2022			2021 (Audited)
ASSETS
Current Assets:
Cash and cash equivalents	$	5,810		$	9,533
Accounts receivable, net		1,286,460			166,293
Other receivables, net		206,815			164,354
Inventories		337,771			271,674
Advances and prepayments to suppliers		39,819			152,750
Total Current Assets		1,876,675			764,604
Plant and equipment, net		1,828,798			2,099,684
Construction in progress, net		94,417			94,892
Intangible assets, net		42,629			52,505
Total Non-current Assets		1,965,844			2,247,081
Total Assets	$	3,842,519		$	3,011,685
LIABILITIES AND STOCKHOLDERS’ EQUITY/(DEFICIT)
Current Liabilities:
Accounts payable and accrued payables	$	1,490,635		$	1,453,700
Taxes payable		885			986
Advances from customers		475			78
Due to related parties		757,263			3,070,210
Total Current Liabilities		2,249,258			4,524,974
Non-Current Liability
Long-term loans		422,547			470,537
Total Liabilities		2,671,805			4,995,511
Commitments and Contingencies
Stockholders’ Equity / (Deficit):
Common Stock, $0.0001 par value, 110,000,000 shares authorized; 1,882,482 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively (note 1)		188			188
Paid in capital		3,036,612			494,058
Accumulated deficit		(1,976,445	)		(2,436,957	)
Accumulated other comprehensive gain (loss)		110,359			(41,115	)
Total Stockholders’ Equity/(Deficit)		1,170,714			(1,983,826	)
Total Liabilities and Stockholders’ Equity/(Deficit)	$	3,842,519		$	3,011,685

KENONGWO GROUP US, INC.

~~The accompanying notes are an integral part of~~UNAUDITED ~~these~~CONDENSED ~~condensed~~CONSOLIDATED ~~consolidated~~STATEMENTS ~~financial~~OF ~~statements.~~ OPERATIONS

1AND COMPREHENSIVE LOSS

~~KENONGWO~~(Stated in ~~GROUP~~ US, ~~INC.~~Dollars)

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

	For the Three months ended March 31,
	2023			2022
Revenue	$	2,118,522		$	1,894,177
Cost of revenues		1,428,443			1,428,427
Gross profit		690,079			465,750

Operating expenses
Selling and marketing expenses		62,521			63,947
General and administrative expenses		172,114			285,199
Total operating expenses		234,635			349,146

Income from operations		455,444			116,604

Other income (expenses):
Interest expenses		(6,858	)		(8,355	)
Other income		3,175			159
Other expenses		(2,040	)		(788	)
Total other expenses		(5,723	)		(8,984	)

Income before income taxes		449,721			107,620

Provision for income taxes		-			-

Net income	$	449,721		$	107,620

Other comprehensive income (loss):
Foreign currency translation adjustment		10,328			(38,448	)
Comprehensive income	$	460,049		$	69,172

Income per share – Basic and diluted		-			0.06

Basic and diluted weighted average shares outstanding		101,882,485			1,882,485

~~AND~~The accompanying ~~COMPREHENSIVE~~notes ~~LOSS~~are an integral part of these condensed consolidated financial statements.

~~(Stated in US Dollars)~~2

	Three months ended September 30, 2022			Three months ended September 30, 2021			Nine months ended September 30, 2022			Nine months ended September 30, 2021
Revenue	$	1,662,135		$	69,565		$	5,210,549		$	349,259
Cost of revenues		1,233,295			54,022			3,965,173			517,826
Gross profit		428,840			15,543			1,245,376			(168,567	)
Operating expenses
Selling and marketing expenses		46,503			86,592			165,306			215,984
General and administrative expenses		151,561			139,884			495,378			263,670
Total operating expenses		198,064			226,476			660,684			479,654
Income (Loss) from operations		230,776			(210,933	)		584,692			(648,221	)
Other income (expenses):
Interest expenses		(7,815	)		(8,292	)		(24,177	)		(21,406	)
Other income		1,001			3,933			6,492			19,621
Other expenses		(10,941	)		(6,391	)		(106,495	)		(7,857	)
Total other income (expenses)		(17,755	)		(10,750	)		(124,180	)		(9,642	)
Income (Loss) before taxes		213,021			(221,683	)		460,512			(657,863	)
Provision for income taxes		-			-			-			-
Net income (loss)	$	213,021		$	(221,683	)	$	460,512		$	(657,863	)
Other comprehensive income (loss):
Foreign currency translation adjustment		80,679			(891	)		151,474			(6,517	)
Comprehensive income (loss)	$	293,700		$	(222,574	)	$	611,986		$	(664,380	)
Earnings (Loss) per share
- Basic and diluted	$	0.11		$	(0.12	)	$	0.24		$	(0.35	)
Basic and diluted weighted average shares outstanding		1,882,482			1,882,482			1,882,482			1,882,482

KENONGWO GROUP US, INC.

~~The~~UNAUDITED CONDENSED ~~accompanying~~CONSOLIDATED ~~notes~~STATEMENTS ~~are~~OF anCHANGES ~~integral~~IN ~~part~~STOCKHOLDERS’ ~~of these condensed consolidated financial statements.~~EQUITY

2(Stated in US Dollars)

KENONGWO GROUP US, INC.

	Number		Common		Paid-in		Accumulated			Accumulated Other Comprehensive
	of Shares		Stock		Capital		Deficit			Loss			Total
Balance, January 1, 2022		1,882,485	$	188	$	494,058	$	(2,436,957	)	$	(41,115	)	$	(1,983,826	)
Net income		-		-		-		107,620			-			107,620
Foreign currency translation adjustment		-		-		-		-			(38,448	)		(38,448	)

Balance, March 31, 2022		1,882,485	$	188	$	494,058	$	(2,329,337	)	$	(79,563	)	$	(1,914,654	)

Balance, January 1, 2023		101,882,485	$	10,188	$	3,126,612	$	(1,501,803	)	$	122,760		$	1,757,757
Net income		-		-		-		449,721			-			449,721
Foreign currency translation adjustment		-		-		-		-			10,328			10,328

Balance, March 31, 2023		101,882,485	$	10,188	$	3,126,612	$	(1,052,082	)	$	133,088		$	2,217,806

~~UNAUDITED~~The accompanying ~~CONDENSED~~notes ~~CONSOLIDATED~~are ~~STATEMENTS OF~~an ~~CHANGES~~integral INpart ~~STOCKHOLDERS’~~of ~~EQUITY~~these condensed consolidated financial statements.

~~(Stated in US Dollars)~~3

										Accumulated
	Numberof Shares (note 1)		Common Stock		Paid-in Capital		Accumulated Deficit			Other Comprehensive Loss			Total
Balance, January 1, 2021		1,882,482	$	188	$	494,058	$	(1,035,549	)	$	(12,658	)	$	(553,961	)
Net loss		-		-		-		(657,863	)		-			(657,863	)
Foreign currency translation adjustment		-		-		-		-			(6,517	)		(6,517	)
Balance, September 30, 2021 (Unaudited)		1,882,482	$	188	$	494,058	$	(1,693,412	)	$	(19,175	)	$	(1,218,341	)
Balance, January 1, 2022		1,882,482	$	188	$	494,058	$	(2,436,957	)	$	(41,115	)	$	(1,983,826	)
Net income		-		-		-		460,512			-			460,512
Contribution by shareholder through waive of payables to shareholder		-		-		2,542,554		-			-			2,542,554
Foreign currency translation adjustment		-		-		-		-			151,474			151,474
Balance, September 30, 2022 (Unaudited)		1,882,482	$	188	$	3,036,612	$	(1,976,445	)	$	110,359		$	1,170,714

KENONGWO GROUP US, INC.

~~The accompanying notes are an integral part of~~UNAUDITED ~~these~~CONDENSED ~~condensed~~CONSOLIDATED ~~consolidated~~STATEMENTS ~~financial~~OF ~~statements.~~CASH FLOWS

3(Stated in US Dollars)

KENONGWO GROUP US, INC.

	For the Three months ended
	March 31,
	2023			2022

CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	449,721		$	107,620
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization		61,887			37,167
Changes in operating assets and liabilities:
Accounts receivable		(462,970	)		(635,196	)
Other receivables		(52,166	)		(41,654	)
Inventories		(46,377	)		(81,194	)
Prepayment and deposits		(63,031	)		(26,599	)
Accounts payable and accrued payables		60,933			303,998
Advances from customers		47,350			-
Net cash used in operating activities		(4,653	)		(335,858	)

CASH FLOWS FROM INVESTING ACTIVITIES
Investment in plant and equipment		(525	)		(8,423	)
Intangible assets		-			(1,783	)
Net cash used in investing activities		(525	)		(10,206	)

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from related party		-			356,854
Repayment of director		(238,281	)		-
Net cash (used in)/ provided by financing activities		(238,281	)		356,854

EFFECT OF EXCHANGE RATE ON CASH		16,156			(11,819	)

NET DECREASE IN CASH		(227,303	)		(1,029	)
CASH, BEGINNING OF PERIOD		234,048			9,533
CASH, END OF PERIOD	$	6,745		$	8,504

SUPPLEMENTAL DISCLOSURES:
Cash paid during the period for:
Cash paid for interest expense, net of capitalized interest	$	6,858		$	8,355
Cash paid for income tax	$	-		$	-

~~UNAUDITED~~The accompanying ~~CONDENSED~~notes ~~CONSOLIDATED~~are ~~STATEMENTS OF~~an ~~CASH~~integral ~~FLOWS~~part of these condensed consolidated financial statements.

~~(Stated in US Dollars)~~4

	For the nine months ended
	September 30,
	2022			2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$	460,512		$	(657,863	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization		103,869			40,899
Changes in operating assets and liabilities:
Accounts receivable		(1,120,167	)		(10,798	)
Inventories		(66,097	)		(306,913	)
Prepayment and deposits		112,931			(190,971	)
Other receivables		(42,461	)		(12,693	)
Accounts payable and accrued payables		36,834			370,068
Advances from customers		397			3,530
Net cash used in operating activities		(514,182	)		(764,741	)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of plant and equipment and construction in progress		(38,806	)		(461,942	)
Proceeds from disposal of equipment		1,362			-
Intangible assets		(1,713	)		(1,066	)
Net cash used in investing activities		(39,157	)		(463,008	)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from amounts due from related parties		588,736			800,126
Long-term loans		-			432,807
Net cash provided by financing activities		588,736			1,232,933
EFFECT OF EXCHANGE RATE ON CASH		(39,120	)		(6,337	)
NET DECREASE IN CASH		(3,723	)		(1,153	)
CASH, BEGINNING OF PERIOD		9,533			6,041
CASH, END OF PERIOD		5,810			4,888
SUPPLEMENTAL DISCLOSURES:
Cash paid during the period for:
Shareholders loan capitalised		2,542,554			-
Cash paid for interest expense, net of capitalized interest	$	24,177		$	21,406

KENONGWO GROUP US, INC.

~~The accompanying notes are an integral part of~~NOTES ~~these~~TO ~~condensed~~UNAUDITED ~~consolidated~~CONDENSED ~~financial~~CONSOLIDATED ~~statements.~~FINANCIAL STATEMENTS

4NOTE 1 – ORGANIZATION, NATURE OF OPERATIONS AND GOING CONCERN

~~KENONGWO~~Kenongwo Group ~~GROUP~~US, Inc. (“Kenongwo US” or the “Company”) is a holding company incorporated in the State of Nevada on October 17, ~~INC~~2018.

~~NOTES~~On October TO17, ~~UNAUDITED~~2018, ~~CONDENSED~~the ~~CONSOLIDATED~~Company ~~FINANCIAL~~issued 30,000 shares of the common stock at the par value per share for a total purchase price of $3 to ~~STATEMENTS~~Mr. Erh-ping Pi.

~~NOTE~~On October 120, –2018, ~~ORGANIZATION~~the Company issued 14,000,000 ~~NATURE~~shares OFof ~~OPERATIONS~~the ~~AND~~common ~~GOING~~stock ~~CONCERN~~at the par value per share for a total purchase price of $1,400 to its director and chief executive officer Mr. Jianjun Zhong.

On May 15, 2017, Jiangxi Kenongwo ~~Group~~Technology USCo., ~~Inc~~Ltd. (“~~Kenongwo~~Jiangxi USKenongwo” or) was formed in the ~~“Company”)~~PRC. It is aengaged ~~holding~~in ~~company~~researching, developing, ~~incorporated~~manufacturing inand ~~the~~selling ~~State~~bamboo ofcharcoal ~~Nevada~~biomass onorganic ~~October~~fertilizers, 17amino acid water-soluble fertilizers, ~~2018~~selenium-rich foliage fertilizers and other types of fertilizers in the People’s Republic of China (the “PRC”).

On January ~~October 17~~1, ~~2018~~2019, the Company acquired all the issued ~~30,000~~and outstanding capital stock of Jiangxi Kenongwo pursuant to certain share transfer ~~shares~~agreements entered into with Xiaoming Zhang and Yuhua Zhang, the two former shareholders of Jiangxi Kenongwo. The share transfer was completed on January 9, 2019 as evidenced by a business license issued by Administrative Bureau in Yichun City Jiangxi Province reflecting the ~~common~~sole ~~stock~~foreign atownership. As a result, Jiangxi Kenongwo became the ~~par~~Company’s ~~value~~wholly ~~per~~owned ~~share~~subsidiary. ~~for~~In accordance to a ~~total~~stock entrustment ~~purchase~~agreement ~~price~~(the “Stock Entrustment Agreement”), Xiaoming Zhang and Yuhua Zhang held Jiangxi Kenongwo on behalf of $3Mr. toJianjun Zhong. Under the Stock Entrustment Agreement, Mr. ~~Erh~~Jianjun Zhong was the controlling beneficial owner of Jiangxi Kenongwo prior to the acquisition on January 1, 2019. Accordingly, the Company and Jiangxi Kenongwo were under common control prior to the acquisition; therefore, the transaction has been accounted for as business combination under common control in accordance to ASC-~~ping~~805-50-30-5, Piin which the assets and liabilities of Jiangxi Kenongwo have been presented at their carrying values at the date at which the transfer occurred, which was January 1, 2019. However, the carrying values did not differ from their historical basis. No goodwill was recognized in this transaction.

On September ~~October 20~~6, ~~2018~~2019, the Company ~~issued~~agreed 14to issue an aggregate of 1,~~000~~300,000 shares of ~~the~~ common stock atin ~~the~~a ~~par~~private ~~value~~placement ~~per~~to ~~share~~two investors for aan ~~total~~aggregate purchase price of $1130,000. On February 26, 2020, March 2, 2020, March 4, 2020 and March 10, 2020, Jiangxi Kenongwo received the placement proceeds of $28,889 (RMB 200,000), $57,778 (RMB 400,000), to$14,444 ~~its~~(RMB ~~director~~100,000), and ~~chief~~$28,889 ~~executive~~(RMB ~~officer~~200,000), respectively, ~~Mr.~~totaling ~~Jianjun~~$130,000 ~~Zhong~~(RMB 900,000) from its two investors.

On October ~~May 15~~16, ~~2017~~2019, ~~Jiangxi~~the ~~Kenongwo~~Company ~~Technology~~agreed ~~Co., Ltd.~~to ~~(“Jiangxi~~issue ~~Kenongwo”)~~an ~~was~~aggregated ~~formed~~of in606,925 shares of the ~~People’s~~common ~~Republic~~stock to a total of ~~China~~41 ~~(the~~investors ~~“PRC”).~~for Itan isaggregate purchase ~~engaged~~price inof ~~researching~~$60, ~~developing,~~693 ~~manufacturing~~in ~~and~~a ~~selling~~private ~~bamboo~~placement. ~~charcoal~~On ~~biomass~~January ~~organic~~16, ~~fertilizers~~2020, ~~amino~~Jiangxi ~~acid~~Kenongwo, ~~water-soluble~~on ~~fertilizers,~~behalf ~~selenium-rich foliage~~of ~~fertilizers~~the ~~and~~Company, ~~other~~received ~~types~~the proceeds of ~~fertilizers~~$60,693 in(RMB 418,166) from the ~~PRC~~41 investors.

On October ~~January 1~~5, ~~2019~~2021, the Company ~~acquired~~amended ~~all~~its ~~the issued~~articles ~~and outstanding capital stock~~ of ~~Jiangxi~~incorporation ~~Kenongwo pursuant~~ to ~~certain~~reverse ~~share~~split ~~transfer~~its ~~agreements~~common ~~entered~~stock ~~into~~at ~~with~~a ~~Xiaoming~~rate ~~Zhang and Yuhua Zhang, the two former shareholders~~ of ~~Jiangxi~~1 ~~Kenongwo.~~for ~~The~~10 share transfer was completed on January 9, 2019 as evidenced by a business license issued by Administrative Bureau in Yichun City Jiangxi Province reflecting the sole foreign ownership. As a result, Jiangxi Kenongwo became the Company’s wholly owned subsidiary. In accordance to a stock entrustment agreement (the “~~Stock~~Reverse ~~Entrustment Agreement~~Split”)~~, Xiaoming Zhang and Yuhua Zhang held Jiangxi Kenongwo on behalf of Mr~~. ~~Jianjun~~On ~~Zhong.~~November ~~Under the Stock Entrustment Agreement, Mr. Jianjun Zhong was the controlling beneficial owner of Jiangxi Kenongwo prior to the acquisition on January~~ 1, ~~2019. Accordingly~~2021, ~~the~~ ~~Company~~FINRA ~~and~~announced ~~Jiangxi Kenongwo were under common control prior to~~ the ~~acquisition;~~Reverse ~~therefore~~Split, ~~the transaction has been accounted for as business combination under common control in accordance to ASC-805-50-30-5, in~~ which ~~the~~took ~~assets~~effect ~~and liabilities of Jiangxi Kenongwo have been presented~~ at ~~their carrying values at~~ the ~~date~~opening atof ~~which~~business ~~the~~on ~~transfer~~November ~~occurred~~2, ~~which was January 1, 2019~~2021. ~~However, the carrying values did not differ from their historical basis. No goodwill was recognized in this transaction.~~

~~On September 6, 2019, the Company agreed to issue~~Basis ~~an aggregate~~ of 1,300,000 shares of common stock in a private placement to two investors for an aggregate purchase price of $130,000. On February 26, 2020, March 2, 2020, March 4, 2020 and March 10, 2020, Jiangxi Kenongwo received the placement proceeds of $28,889 (RMB 200,000), $57,778 (RMB 400,000), $14,444 (RMB 100,000), and $28,889 (RMB 200,000), respectively, totaling $130,000 (RMB 900,000) from its two investors.Presentation

OnThe accompanying ~~October~~consolidated ~~16,~~financial ~~2019,~~statements ~~the~~have ~~Company~~been ~~agreed~~prepared toin ~~issue an~~conformity ~~aggregate~~with ofthe ~~606,925~~US ~~shares~~GAAP. The basis of ~~the~~accounting ~~common~~differs ~~stock~~from that toused ain ~~total~~the statutory accounts of 41the ~~investors~~Company, ~~for~~which anare ~~aggregate~~prepared ~~purchase~~in ~~price~~accordance with the accounting principles of ~~$60,693~~the inPRC a(the ~~private~~“PRC ~~placement~~GAAP”). OnThe ~~January~~differences ~~16,~~between ~~2020,~~the ~~Jiangxi~~US ~~Kenongwo,~~GAAP onand ~~behalf~~the ofPRC ~~the~~GAAP have been adjusted in these financial statements. The Company,’s functional ~~received~~currency is the ~~proceeds~~Chinese ofRenminbi ~~$60,693~~ (“RMB”); ~~418~~however,~~166)~~ ~~from~~ the 41accompanying financial statements have been translated ~~investors~~and presented in United States Dollars (“USD”).

~~On October~~ 5, 2021, the Company amended its articles of incorporation to reverse split its common stock at a rate of 1 for 10 (the “Reverse Split”). On November 1, 2021, FINRA announced the Reverse Split, which took effect at the opening of business on November 2, 2021.

~~Going~~KENONGWO GROUP ~~Concern~~US, INC.

~~The accompanying unaudited condensed consolidated~~NOTES ~~financial~~TO ~~statements~~UNAUDITED ~~have~~CONDENSED ~~been~~CONSOLIDATED ~~prepared~~FINANCIAL assuming that the Company will continue as a going concern. The Company has reported a net income of $460,512 for the nine months ended September 30, 2022. As of September 30, 2022, the Company had an accumulated deficit of $1,976,445, working capital deficit of $372,583 and its net cash used in operating activities for the nine months ended September 30, 2022 was $514,182.STATEMENTS

5NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

~~KENONGWO~~Use of ~~GROUP US, INC.~~Estimates

~~NOTES~~The preparation TOof ~~UNAUDITED~~the ~~CONDENSED~~financial ~~CONSOLIDATED~~statements ~~FINANCIAL~~requires management to make estimates and assumptions that affect the reported amounts of assets ~~STATEMENTS~~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 periods. Management makes these estimates using the best information available at the time the estimates are made; however, actual results could differ materially from those estimates.

~~NOTE~~Control by 1Principal ~~– ORGANIZATION, NATURE OF OPERATIONS AND GOING CONCERN (CONTINUED)~~Stockholders

~~These factors raise substantial doubt on the~~ The Company’s ~~ability~~ todirectors ~~continue~~and asexecutive aofficers ~~going~~and ~~concern.~~their ~~The~~affiliates ~~accompanying~~or ~~unaudited~~related ~~condensed~~parties ~~consolidated~~own, ~~financial~~beneficially ~~statements~~and doin ~~not~~the ~~include~~aggregate, ~~any adjustments~~the ~~that~~majority ~~might~~of ~~result from~~ the ~~outcome~~voting power of ~~this~~the ~~uncertainty.~~outstanding ~~Management’s~~shares ~~plan~~of ~~for~~our ~~the~~common ~~Company’s~~stock. ~~continued~~Accordingly, ~~existence~~if isour ~~dependent upon~~directors ~~management’s~~and ~~ability~~executive toofficers ~~execute~~and their ~~the~~affiliates ~~business~~or ~~plan,~~related ~~develop~~parties ~~the~~vote ~~plan~~their toshares ~~generate~~uniformly, ~~profit;~~they ~~additionally,~~would ~~Management~~have ~~may~~the ~~need~~ability to ~~continue~~ tocontrol ~~rely~~the onapproval ~~certain~~of ~~related~~most ~~parties~~corporate actions, toincluding ~~provide~~increasing ~~funding~~our ~~for~~authorized ~~investment, for working~~ capital stock and ~~general~~the ~~corporate~~dissolution ~~purposes.~~or ~~If management~~merger isof ~~unable~~our tocompany ~~execute~~or ~~its plan,~~ the ~~Company~~sale ~~may~~of ~~become~~our ~~insolvent~~assets.

~~Basis~~Cash and ofCash ~~Presentation~~Equivalents

~~The accompanying consolidated financial statements~~For ~~have~~purposes ~~been~~of ~~prepared in conformity with~~ the USstatements ~~GAAP. The basis~~ of ~~accounting~~cash ~~differs~~flows, ~~from that used in~~ the ~~statutory~~Company ~~accounts~~considers ofall ~~the~~highly ~~Company, which~~liquid ~~are~~instruments ~~prepared~~purchased ~~in accordance~~ with ~~the~~a ~~accounting~~maturity ~~principles~~ of ~~the~~three ~~PRC (the “PRC GAAP”). The differences between the US~~months ~~GAAP~~or less and ~~the~~money ~~PRC~~market ~~GAAP~~accounts ~~have~~to ~~been~~be ~~adjusted~~cash ~~in these financial statements~~equivalents. The Company’s ~~functional~~maintains ~~currency~~cash iswith ~~the~~various ~~Chinese Renminbi (“RMB”); however, the accompanying~~ financial ~~statements have been translated and presented in United States Dollars (“USD”)~~institutions.

~~NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING~~Accounts ~~POLICIES~~Receivable

~~Use~~Accounts receivable are recorded at the invoiced amount and do not bear interest. presented net of ~~Estimates~~an allowance for doubtful accounts. The Company maintains allowances for doubtful credit losses accounts for estimated losses. The Company reviews the accounts receivable on a periodic basis and makes general and specific allowances when there is doubt as to the collectability of individual balances. In evaluating the collectability of individual receivable balances, the Company considers many factors, including the age of the balance, a customer’s historical payment history, its current credit worthiness and current economic trends. Accounts are written off after exhaustive efforts at collection.

The preparation of the financial statements 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 periods. Management makes these estimates using the best information available at the time the estimates are made; however, actual results could differ materially from those estimates.6

~~Control~~KENONGWO GROUP byUS, ~~Principal Stockholders~~INC.

~~The Company’s directors and executive officers~~NOTES ~~and~~TO ~~their~~UNAUDITED ~~affiliates~~CONDENSED orCONSOLIDATED ~~related~~FINANCIAL parties own, beneficially and in the aggregate, the majority of the voting power of the outstanding shares of our common stock. Accordingly, if our directors and executive officers and their affiliates or related parties vote their shares uniformly, they would have the ability to control the approval of most corporate actions, including increasing our authorized capital stock and the dissolution or merger of our company or the sale of our assets.STATEMENTS

~~Cash~~NOTE 2 ~~and~~– ~~Cash~~SUMMARY ~~Equivalents~~OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

For purposes of the statements of cash flows, the Company considers all highly liquid instruments purchased with a maturity of three months or less and money market accounts to be cash equivalents. The Company maintains cash with various financial institutions.Inventories

~~Accounts~~Inventories, consisting ~~Receivable~~of raw materials, work in process, and finished goods related to the Company’s products are stated at the lower of cost or market utilizing the weighted average method.

~~Accounts receivable are presented net of an allowance~~Advances ~~for doubtful accounts. The Company maintains allowances for doubtful accounts for estimated losses. The Company reviews the accounts receivable on a periodic basis~~ and makes general and specific allowances when there is doubt as to the collectability of individual balances. In evaluating the collectability of individual receivable balances, the Company considers many factors, including the age of the balance, a customer’s historical payment history, its current credit worthiness and current economic trends. Accounts are written off after exhaustive efforts at collection.Prepayments

6The Company makes advance payment to suppliers and vendors for the procurement of raw materials. Upon physical receipt and inspection of the raw materials from suppliers the applicable amount is reclassified from advances and prepayments to suppliers to inventory.

~~KENONGWO~~Plant and ~~GROUP US, INC.~~Equipment

~~NOTES~~Included in TOproperty ~~UNAUDITED~~and ~~CONDENSED~~equipment ~~CONSOLIDATED~~is ~~FINANCIAL~~construction-in-progress which consisted of factory improvements and machinery pending installation and ~~STATEMENTS~~includes the costs of construction, machinery and equipment, and any interest charges arising from borrowings used to finance these assets during the period of construction or installation of the assets. No provision for depreciation is made on construction-in-progress until such time as the relevant assets are completed and ready for their intended use.

~~NOTE~~Estimated useful 2lives –of ~~SUMMARY~~the OFCompany’s ~~SIGNIFICANT~~assets ~~ACCOUNTING POLICIES~~are ~~(CONTINUED)~~as follows:

Inventories

		Useful Life
Building		20 years
Operating equipment		3-10 years
Vehicle		3-5 years
Electronic equipment		3-5 years
Office equipment		3-5 years

~~Inventories,~~The cost ~~consisting~~and related accumulated depreciation of ~~raw~~assets ~~materials,~~sold ~~work in~~or ~~process~~otherwise retired are eliminated from the accounts, and ~~finished~~any ~~goods~~gain ~~related~~or toloss are included in the Company’s ~~products~~results ~~are~~of ~~stated~~operations. atThe ~~the~~costs ~~lower~~ of ~~cost~~maintenance orand ~~market~~repairs ~~utilizing~~are ~~the~~recognized ~~weighted~~to expenses as incurred; ~~average~~significant ~~method~~renewals and betterments are capitalized.

~~Advances~~Construction in progress represents direct and ~~Prepayments~~indirect acquisition and construction costs for plants, and costs of acquisition and installation of related equipment. Amounts classified as construction in progress and prepayments for equipment are transferred to plant and equipment when substantially all the activities necessary to prepare the assets for their intended use are completed. Depreciation is not provided for assets classified in this account.

The Company ~~makes~~both ~~advance~~owns ~~payment~~and toleases ~~suppliers and~~manufacturing ~~vendors~~facilities. ~~for~~The ~~the~~Company ~~procurement~~leases ofa ~~raw~~manufacturing ~~materials.~~facility ~~Upon~~to ~~physical~~produce ~~receipt~~fertilizer ~~and~~products. ~~inspection~~In order ofto expand the ~~raw~~Company’s ~~materials~~production ~~from~~capacity, ~~suppliers~~ the ~~applicable amount~~Company isinvested ~~reclassified~~in ~~from~~an ~~advances~~additional ~~and~~manufacturing ~~prepayments~~plant tothat ~~suppliers~~it ~~to inventory~~owns.

~~Plant~~The plant ~~and~~that ~~Equipment~~is owned by the Company is accounted for using the significant accounting policies set forth above.

~~Included~~The Company inhas ~~property~~adopted ~~and~~ASC ~~equipment~~842 isand ~~construction-in-progress which~~ASC ~~consisted~~840. ofManagement ~~factory~~determines ~~improvements~~that ~~and~~leased ~~machinery~~manufacturing ~~pending~~facility ~~installation~~is ~~and~~not ~~includes~~required ~~the~~to ~~costs~~be ofcapitalized ~~construction, machinery and equipment,~~as ~~and~~a ~~any~~right ~~interest~~of ~~charges~~use ~~arising~~asset ~~from~~under ~~borrowings~~both ~~used~~ASC to842 ~~finance~~and ~~these~~ASC ~~assets~~840 ~~during~~because the ~~period~~lease offor ~~construction~~that orfacility ~~installation~~is ofentered ~~the assets.~~into Noon ~~provision~~a ~~for~~year ~~depreciation~~to isyear ~~made~~basis. onAdditionally, management ~~construction-in-progress~~is ~~until~~not ~~such~~certain ~~time~~that asit ~~the~~will ~~relevant~~renew ~~assets~~its ~~are~~lease ~~completed and ready~~ for ~~their~~that ~~intended~~facility ~~use~~each year.

~~Estimated useful lives of the Company’s assets are as follows:~~ 7

		Useful Life
Building		20 years
Operating equipment		3-10 years
Vehicle		3-5 years
Office equipment		3-5 years

KENONGWO GROUP US, INC.

~~The cost and related accumulated depreciation~~NOTES ofTO ~~assets~~UNAUDITED ~~sold~~CONDENSED orCONSOLIDATED ~~otherwise~~FINANCIAL retired are eliminated from the accounts, and any gain or loss are included in the Company’s results of operations. The costs of maintenance and repairs are recognized to expenses as incurred; significant renewals and betterments are capitalized.STATEMENTS

~~Construction in progress represents direct and~~NOTE ~~indirect~~2 ~~acquisition~~– ~~and~~SUMMARY ~~construction~~OF ~~costs~~SIGNIFICANT ~~for~~ACCOUNTING ~~plants,~~POLICIES and costs of acquisition and installation of related equipment. Amounts classified as construction in progress and prepayments for equipment are transferred to plant and equipment when substantially all the activities necessary to prepare the assets for their intended use are completed. Depreciation is not provided for assets classified in this account. (CONTINUED)

~~The Company both owns and leases manufacturing~~Intangible facilities. The Company leases a manufacturing facility to produce fertilizer products. In order to expand the Company’s production capacity, the Company invested in an additional manufacturing plant that it owns.Assets

~~The~~Included in ~~plant~~the ~~that~~intangible assets is ~~owned~~non-patented bytechnology. Useful life for non-patented technology refers to the ~~Company~~period isduring ~~accounted~~which economic ~~for~~benefits can be generated. Intangible assets are being amortized using the ~~significant~~straight-line ~~accounting~~method ~~policies~~over ~~set~~their ~~forth~~lease ~~above~~terms or estimated useful life.

~~The Company has adopted ASC 842 and ASC 840. Management~~Estimated ~~determines~~useful ~~that~~lives ~~leased manufacturing facility is not required to be capitalized as a right~~ of ~~use asset under both ASC 842 and ASC 840 because~~ the ~~lease~~Company’s ~~for~~intangible ~~that~~assets ~~facility~~are isas ~~entered into on a year to year basis. Additionally, management is not certain that it will renew its lease for that facility each year.~~follows:

7Useful Life Non-patented technology 10 years

~~KENONGWO~~The Company ~~GROUP~~carries intangible assets at cost less accumulated amortization. In accordance with the US GAAP, ~~INC~~the Company examines the possibility of decreases in the value of intangible assets when events or changes in circumstances reflect the fact that their recorded value may not be recoverable.

~~NOTES~~Impairment of TOLong-lived ~~UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS~~Assets

~~NOTE~~In accordance 2with –ASC ~~SUMMARY~~Topic OF360, ~~SIGNIFICANT~~the ~~ACCOUNTING~~Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate ~~POLICIES~~that ~~(CONTINUED)~~the carrying amount of the assets may not be fully recoverable, or at least annually. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value. The Company recorded no impairment charge for the three months ended March 31, 2023 and 2022.

~~Intangible~~Advances from ~~Assets~~ Customers

~~Included~~Advances from incustomers ~~the~~consist ~~intangible~~of ~~assets~~prepayments isfrom ~~non-patented technology.~~customers ~~Useful~~for ~~life~~merchandise ~~for~~that ~~non-patented~~had ~~technology~~not ~~refers~~yet tobeen ~~the~~shipped. ~~period~~The ~~during~~Company ~~which~~will ~~economic~~recognize ~~benefits~~the ~~can~~deposits as berevenue ~~generated.~~as ~~Intangible~~customers ~~assets are~~take ~~being~~delivery ~~amortized~~of ~~using~~the goods and title to the ~~straight-line~~assets ~~method~~is ~~over~~transferred ~~their~~to ~~lease~~customers ~~terms~~in oraccordance ~~estimated~~with ~~useful~~the ~~life~~Company’s revenue recognition policy.

~~Estimated useful lives of the Company’s~~Foreign ~~intangible~~currency ~~assets are as follows:~~ translation

~~Useful~~The accompanying ~~Life~~financial ~~Non~~statements are presented in United States dollars. The functional currencies of the Company are in Renminbi (RMB). The Company’s assets and liabilities are translated into United States dollars from RMB at year-~~patented~~end ~~technology~~exchange 10rates, ~~years~~and its revenues and expenses are translated at the average exchange rate during the year. Capital accounts are translated at their historical exchange rates when the capital transactions occurred.

The Company carries intangible assets at cost less accumulated amortization. In accordance with the US GAAP, the Company examines the possibility of decreases in the value of intangible assets when events or changes in circumstances reflect the fact that their recorded value may not be recoverable. 8

~~Impairment~~KENONGWO GROUP ofUS, ~~Long-lived Assets~~ INC.

~~In accordance with ASC Topic 360, the Company~~NOTES ~~reviews~~TO ~~long-lived~~UNAUDITED ~~assets~~CONDENSED ~~for~~CONSOLIDATED ~~impairment~~FINANCIAL whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable, or at least annually. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value. The Company recorded no impairment charge for the nine months ended September 30, 2022 and 2021. STATEMENTS

~~Advances~~NOTE 2 ~~from~~– ~~Customers~~SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Advances from customers consist of prepayments from customers for merchandise that had not yet been shipped. The Company will recognize the deposits as revenue as customers take delivery of the goods and title to the assets is transferred to customers in accordance with the Company’s revenue recognition policy.

	*3/31/2023*	*12/31/2022*	*3/31/2022*
Period/year end RMB: US$ exchange rate	6.8717	6.9646	6.3482
Period/annual average RMB: US$ exchange rate	6.6676	6.7261	6.3504

~~Foreign~~The RMB ~~currency~~is ~~translation~~not freely convertible into foreign currencies and all foreign exchange transactions must be conducted through authorized financial institutions.

~~The accompanying financial statements are presented~~Revenue in United States dollars. The functional currencies of the Company are in Renminbi (RMB). The Company’s assets and liabilities are translated into United States dollars from RMB at year-end exchange rates, and its revenues and expenses are translated at the average exchange rate during the year. Capital accounts are translated at their historical exchange rates when the capital transactions occurred.Recognition

8The Company adopted ASC 606 “Revenue Recognition”, and recognizes revenue when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services.

~~KENONGWO~~The Company ~~GROUP~~derives ~~US,~~its ~~INC~~revenues from the sale of fertilizer products. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfils its obligations under each of its agreements:

~~NOTES~~● TOidentify ~~UNAUDITED~~the ~~CONDENSED~~contract ~~CONSOLIDATED~~with ~~FINANCIAL STATEMENTS~~a customer; ● identify the performance obligations in the contract; ● determine the transaction price; ● allocate the transaction price to performance obligations in the contract; and ● recognize revenue as the performance obligation is satisfied.

~~NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING~~Cost ~~POLICIES~~of ~~(CONTINUED)~~Revenues

	9/30/2022		12/31/2021		9/30/2021
Period/year end RMB: US$ exchange rate		7.0998		6.3757		6.4567
Period/annual average RMB: US$ exchange rate		6.6068		6.4515		6.4694

Cost of revenues consists primarily of raw materials, utility and supply costs consumed in the manufacturing process, manufacturing labor, depreciation expense and direct overhead expenses necessary to manufacture finished goods as well as warehousing and distribution costs such as inbound freight charges, shipping and handling costs, purchasing and receiving costs.

~~The RMB is not freely convertible into foreign~~Income ~~currencies and all foreign exchange transactions must be conducted through authorized financial institutions.~~Taxes

~~Revenue~~The Company ~~Recognition~~accounts for income taxes under the provisions of Section 740-10-30 of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification, which is an asset and liability approach that requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in its financial statements or tax returns.

The Company ~~adopted~~is ~~ASC~~subject ~~606~~to ~~“Revenue~~the ~~Recognition”, and~~Enterprise ~~recognizes~~Income ~~revenue~~Tax ~~when~~(“EIT”) ~~control~~law of the ~~promised~~People’s ~~goods~~Republic orof ~~services~~China. isThe ~~transferred~~Company’s primary tooperations ~~customers,~~are located in anthe ~~amount~~PRC. ~~that~~The ~~reflects~~Company ~~the~~is ~~consideration we~~high ~~expect~~tech toenterprises beare ~~entitled~~subject to incorporate ~~exchange~~income ~~for~~tax ~~those~~at ~~goods~~a orreduced ~~services~~rate of 15%.

The Company derives its revenues from the sale of fertilizer products. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfils its obligations under each of its agreements:9

●KENONGWO GROUP ~~identify~~US, the contract with a customer; ● identify the performance obligations in the contract; ● determine the transaction price; ● allocate the transaction price to performance obligations in the contract; and ● recognize revenue as the performance obligation is satisfiedINC.

~~Cost~~NOTES TO ofUNAUDITED ~~Revenues~~CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

~~Cost of revenues consists primarily of raw materials,~~NOTE ~~utility~~2 ~~and~~– ~~supply~~SUMMARY ~~costs~~OF ~~consumed~~SIGNIFICANT inACCOUNTING ~~the~~POLICIES manufacturing process, manufacturing labor, depreciation expense and direct overhead expenses necessary to manufacture finished goods as well as warehousing and distribution costs such as inbound freight charges, shipping and handling costs, purchasing and receiving costs.(CONTINUED)

~~Income Taxes~~Related Parties

~~The~~Parties are considered to be related to the Company ~~accounts~~if ~~for~~the ~~income~~parties, ~~taxes~~directly or indirectly, through one or more intermediaries, control, are controlled by, or are under common control with the ~~provisions~~ Company. Related parties also include principal owners of ~~Section~~the ~~740-10-30~~Company, its management, members of the ~~Financial~~immediate ~~Accounting~~families ~~Standards~~of ~~Board~~principal ~~(“FASB”)~~owners ~~Accounting~~of ~~Standards~~the ~~Codification,~~Company ~~which is~~and anits ~~asset~~management and ~~liability~~other ~~approach~~parties ~~that~~with ~~requires~~which the ~~recognition~~Company ofmay deal ~~deferred~~if ~~tax~~one ~~assets~~party ~~and~~controls ~~liabilities~~or ~~for~~can significantly influence the ~~expected~~management ~~future~~or ~~tax~~operating ~~consequences~~ policies of ~~events~~the other to an extent that ~~have~~one ~~been~~of the ~~recognized~~transacting inparties might be prevented from fully pursuing its ~~financial~~own ~~statements~~separate orinterests. ~~tax~~The ~~returns~~Company discloses all related party transactions.

~~The Company is subject to the Enterprise Income~~Accumulated ~~Tax~~Other ~~(“EIT”)~~Comprehensive ~~law of the People’s Republic of China. The Company is subject to Small Low-profit Enterprises Tax in which the Company is subject to Half-reduced Enterprise~~ Income ~~Tax and enterprise income tax at the reduced rate of 20%, i.e. for the net profit below RMB 1,000,001~~ (~~USD 151,181~~Loss), the taxable income is 50% of the net profit multiplied by the 20% enterprise income tax rate, which result in an effective income tax rate of 10% from the full net profit, if such net profit is below RMB 1,000,001 (USD 151,181).

9Comprehensive income (loss) comprised of net income (loss) and all changes to the statements of stockholders’ equity, except those due to investments by stockholders, changes in paid-in capital and distributions to stockholders. The Company’s comprehensive income (loss) consist of net income (loss) and unrealized gains from foreign currency translation adjustments.

~~KENONGWO~~Fair Value ~~GROUP~~of ~~US,~~Financial ~~INC.~~Instruments

~~NOTES~~The Company’s TOfinancial ~~UNAUDITED~~instruments, ~~CONDENSED~~including ~~CONSOLIDATED~~cash ~~FINANCIAL~~and equivalents, accounts and other receivables, accounts and other payables, accrued ~~STATEMENTS~~liabilities and short-term debt, have carrying amounts that approximate their fair values due to their short maturities. ASC Topic 820, “Fair Value Measurements and Disclosures,” requires disclosure of the fair value of financial instruments held by the Company. ASC Topic 825, “Financial Instruments,” defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The carrying amounts reported in the consolidated balance sheets for receivables and current liabilities each qualify as financial instruments and are a reasonable estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The three levels of valuation hierarchy are defined as follows:

~~NOTE~~● 2Level –1 ~~SUMMARY~~- OFinputs ~~SIGNIFICANT~~to ~~ACCOUNTING POLICIES~~the ~~(CONTINUED)~~valuation methodology used quoted prices for identical assets or liabilities in active markets.

~~Related Parties~~10

~~Parties are considered to be related to the Company~~KENONGWO ifGROUP ~~the parties~~US, ~~directly or indirectly, through one or more intermediaries, control, are controlled by, or are under common control with the Company~~INC. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. The Company discloses all related party transactions.

~~Accumulated~~NOTES TO ~~Other~~UNAUDITED ~~Comprehensive~~CONDENSED ~~Income~~CONSOLIDATED ~~(Loss)~~FINANCIAL STATEMENTS

~~Comprehensive income (loss) comprised of net income~~NOTE ~~(loss)~~2 ~~and~~– ~~all~~SUMMARY ~~changes~~OF toSIGNIFICANT ~~the~~ACCOUNTING ~~statements~~POLICIES ~~of stockholders’ equity, except those due to investments by stockholders, changes in paid-in capital and distributions to stockholders. The Company’s comprehensive income~~ (~~loss~~CONTINUED) ~~consist of net income (loss) and unrealized gains from foreign currency translation adjustments.~~

Fair Value of Financial Instruments

	●	Level 2 - inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

	●	Level 3 - inputs to the valuation methodology are unobservable and significant to the fair value measurement.

The Company’s analyzes all financial instruments, ~~including cash~~with ~~and~~features ~~equivalents,~~of ~~accounts~~both ~~and other receivables, accounts and other payables, accrued~~ liabilities and ~~short-term~~equity ~~debt,~~under ~~have carrying amounts that approximate their fair values due to their short maturities.~~ ASC ~~Topic 820~~480, “~~Fair~~Distinguishing ~~Value Measurements and Disclosures,”~~Liabilities ~~requires~~from ~~disclosure of the fair value of financial instruments held by the Company. ASC Topic 825~~Equity, ~~“Financial Instruments,~~” ~~defines~~ ~~fair value,~~ and ~~establishes~~ASC ~~a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures~~815. The carrying amounts reported in the consolidated balance sheets for receivables and current liabilities each qualify as financial instruments and are a reasonable estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The three levels of valuation hierarchy are defined as follows:

●Government Contribution ~~Level 1 – inputs to the valuation methodology used quoted prices for identical assets or liabilities in active markets.~~Plan

●Pursuant to ~~Level~~the 2applicable –PRC ~~inputs~~laws toand regulations, the ~~valuation~~Company ~~methodology~~is ~~include~~required ~~quoted~~to ~~prices~~participate ~~for~~in ~~similar~~a ~~assets~~government-mandated ~~and~~multi-employer ~~liabilities~~defined incontribution plan ~~active~~pursuant ~~markets~~to which certain retirement, medical and ~~inputs~~other ~~that~~welfare benefits are ~~observable~~provided ~~for~~to employees. Chinese labor regulations require the ~~asset~~Company orto ~~liability,~~pay ~~either~~to ~~directly~~the orlocal ~~indirectly,~~labor ~~for~~bureau ~~substantially~~a monthly contribution at a stated contribution rate based on the ~~full~~monthly ~~term~~basic compensation of qualified employees. The relevant local labor bureau is responsible for meeting all retirement benefit obligations; the ~~financial~~Company ~~instrument~~has no further commitments beyond its monthly contribution.

~~● Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value measurement.~~Statutory Reserve

~~The~~Pursuant to the applicable PRC laws and regulations, the Company ~~analyzes~~must ~~all~~make ~~financial~~appropriations ~~instruments~~from after-tax profit to the non-distributable “statutory ~~with~~surplus ~~features~~reserve fund”. Subject to certain cumulative limits, the “statutory surplus reserve fund” requires annual appropriations of ~~both~~10% ~~liabilities~~of ~~and~~after-tax ~~equity~~profit until the aggregated appropriations reach 50% of the registered capital (as determined under ~~ASC~~the ~~480~~PRC GAAP at each year-end). For foreign invested enterprises and joint ventures in the PRC, annual appropriations should be made to the “~~Distinguishing~~reserve fund”. ~~Liabilities~~For ~~from~~foreign ~~Equity~~invested enterprises, the annual appropriation for the “reserve fund” ~~and~~cannot ~~ASC~~be ~~815~~less than 10% of after-tax profits until the aggregated appropriations reach 50% of the registered capital (as determined under PRC GAAP at each year-end). If the Company has accumulated loss from prior periods, the Company is able to use the current period net income after tax to offset against the accumulate loss.

~~Government~~Recent accounting ~~Contribution Plan~~pronouncements

~~Pursuant~~In November to2021, the ~~applicable~~FASB ~~PRC~~issued ~~laws~~ASU ~~and~~No. ~~regulations~~2021-10, ~~the~~ ~~Company~~Government isAssistance ~~required~~(Topic to832): ~~participate~~Disclosures by Business Entities about Government Assistance. The amendments in this update require disclosures about transactions with a government~~-mandated~~ ~~multi-employer~~that ~~defined~~have been accounted for by analogizing to a grant or contribution ~~plan~~accounting ~~pursuant~~model to ~~which~~increase ~~certain~~transparency ~~retirement~~about (1) the types of transactions, (2) the accounting for the ~~medical~~transactions, and ~~other~~(3) ~~welfare~~the ~~benefits~~effect ~~are~~of ~~provided~~the totransactions ~~employees~~on an entity’s financial statements. ~~Chinese~~The ~~labor~~amendments ~~regulations~~are ~~require~~effective ~~the~~for ~~Company~~all entities towithin ~~pay~~their toscope, ~~the~~which ~~local~~excludes ~~labor bureau~~not-for-profit aentities ~~monthly~~and ~~contribution~~employee atbenefit aplans, ~~stated~~for ~~contribution~~financial ~~rate~~statements ~~based~~issued onfor ~~the~~annual periods ~~monthly~~beginning ~~basic~~after ~~compensation~~December 15, 2021. Early application of ~~qualified~~the ~~employees~~amendment is permitted. The ~~relevant local~~Company ~~labor~~will ~~bureau~~adopt isASU ~~responsible~~No. ~~for~~2021-10 ~~meeting~~effective January ~~all~~1, ~~retirement~~2022.The ~~benefit~~Company’s ~~obligations;~~adoption ~~the~~of ~~Company~~this ~~has~~guidance nodoes ~~further~~not ~~commitments~~have ~~beyond~~a material impact on its ~~monthly contribution~~financial statements.

10The Company believes that there were no other accounting standards recently issued that had or are expected to have a material impact on our financial position or results of operations.

~~KENONGWO GROUP US, INC.~~11

~~NOTES~~KENONGWO GROUP TOUS, ~~UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS~~INC.

~~NOTE~~NOTES TO 2UNAUDITED –CONDENSED ~~SUMMARY~~CONSOLIDATED OFFINANCIAL ~~SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)~~STATEMENTS

~~Statutory~~NOTE 3 ~~Reserve~~– ACCOUNTS RECEIVABLE, NET

~~Pursuant to the applicable PRC laws and regulations,~~Accounts ~~the~~receivable ~~Company~~consist must make appropriations from after-tax profit to the non-distributable “statutory surplus reserve fund”. Subject to certain cumulative limits, the “statutory surplus reserve fund” requires annual appropriations of ~~10% of after-tax profit until~~ the aggregated appropriations reach 50% of the registered capital (as determined under the PRC GAAP at each year-end). For foreign invested enterprises and joint ventures in the PRC, annual appropriations should be made to the “reserve fund”. For foreign invested enterprises, the annual appropriation for the “reserve fund” cannot be less than 10% of after-tax profits until the aggregated appropriations reach 50% of the registered capital (as determined under PRC GAAP at each year-end). If the Company has accumulated loss from prior periods, the Company is able to use the current period net income after tax to offset against the accumulate loss.following:

Recently accounting pronouncements

	March 31, 2023			December 31, 2022
Accounts receivable	$	2,294,490		$	1,854,314
Less: Allowance for doubtful accounts		(307,057	)		(336,614	)
Total accounts receivable, net	$	1,987,433		$	1,517,700

~~In June 2016, the FASB issued ASU No. 2016-13,~~Movement ~~Credit Losses – Measurement~~ of ~~Credit~~allowance ~~Losses on Financial Instruments (“ASC 326”). The standard significantly changes how entities will measure credit losses~~ for ~~most~~doubtful ~~financial assets, including~~ accounts ~~and~~is notes receivables. The standard will replace today’s “incurred loss” approach with an “expected loss” model, under which companies will recognize allowances based on expected rather than incurred losses. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. As small business filer, the standard will be effective for us for interim and annual reporting periods beginning after December 15, 2022. The Company is currently assessing the impact of adopting this standard on the Company’s financial statements and related disclosures.follows:

Other recent accounting pronouncements issued by the FASB, its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company’s present or future consolidated financial statements.

	March 31, 2023			December 31, 2022
Beginning balance	$	(336,614	)	$	(126,998	)
Write-off/(Addition)		35,154			(228,171	)
Currency re-alignment		(5,597	)		18,555
Ending balance	$	(307,057	)	$	(336,614	)

NOTE 4 3 – ~~ACCOUNTS~~OTHER ~~RECEIVABLE, NET~~RECIVABLES

~~Accounts~~ Other receivable consist of the following:

	September 30, 2022			December 31, 2021
	March 31, 2023			December 31, 2022
Accounts receivable	$	1,400,505		$	293,291
Loan receivable	$	195,612		$	155,556
Less: Allowance for doubtful accounts		(114,045	)		(126,998	)
Deposit		12,268			12,104
Total accounts receivable, net	$	1,286,460		$	166,293
Others		34,411			21,458
Ending balance	$	242,291		$	189,118

~~Movement~~Amount due offrom ~~allowance~~third ~~for~~parties ~~doubtful~~are ~~accounts~~unsecured, isnon-interest asbearing ~~follows:~~and repayable on demand.

	September 30, 2022			December 31, 2021
Beginning balance	$	(126,998	)	$	(124,041	)
Bad debt written back/(provided)		12,953			(2,957	)
Ending balance	$	(114,045	)	$	(126,998	)

11KENONGWO GROUP US, INC.

~~KENONGWO~~NOTES TO ~~GROUP~~UNAUDITED ~~US,~~CONDENSED ~~INC.~~CONSOLIDATED FINANCIAL STATEMENTS

~~NOTES~~NOTE 5 TO– ~~UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS~~INVENTORIES

~~NOTE~~Inventories consisted 4of –the ~~OTHER RECEIVABLES~~following:

Other receivables consisted of the following:

	March 31, 2023		December 31, 2022

Raw materials	$	377,434	$	328,007
Goods in process		19,117		13,084
Finished goods		227,834		230,567
Total, net	$	624,385	$	571,658

	September 30, 2022		December 31, 2021
Prepaid expenses	$	3,043	$	22,053
Deposit		40,043		43,023
Loan receivables		160,744		98,243
Others		2,985		1,035
	$	206,815	$	164,354

NOTE 6 – PREPAYMENTS

AsThe prepayment balance of ~~September 30~~$96,100 ~~2022~~and $34,475 ~~the~~as ~~balance~~ of ~~loan~~March ~~receivables~~31, ~~amounting to~~2023 ~~$160~~and December 31,~~744,~~ ~~which~~2022 ~~was~~mainly ~~from~~represents ~~third~~the ~~parties~~advanced payment to the suppliers for business purpose, respectively.

~~On September 8, 2021, the Company entered into~~NOTE a7 ~~“Loan~~– ~~Agreement”~~PLANT ~~with~~AND ~~a third party. Pursuant to the Loan Agreement, the Company loaned the amount of $21,221 (RMB150,664) to the third party interest-free from September 8, 2021 to September 7, 2023.~~EQUIPMENT

~~On May 18, 2022, the Company entered into a “Loan Agreement”~~Plant ~~with~~and aequipment ~~third~~at ~~party.~~March ~~Pursuant to the Loan Agreement~~31, ~~the~~2023 ~~Company~~and ~~loaned~~December ~~the amount of $122~~31,~~077~~ ~~(RMB866,721)~~2022 toconsisted ~~the third party interest-free from May 8, 2021 to May 8, 2022.~~ of:

During the third quarter of 2022, the Company entered into a series of interest free loan agreements with some individual debtors, borrowing $17,446. The repayment term is one year from the borrowing date.

	March 31, 2023			December 31, 2022
Building	$	1,382,011		$	1,387,914
Operating equipment		657,212			648,446
Vehicle		20,868			20,590
Office equipment		102,141			100,275
		2,162,232			2,157,225
Less: Accumulated depreciation		(376,758	)		(339,015	)
		1,785,474			1,818,210
Construction in progress		97,551			96,249
	$	1,883,025		$	1,914,459

~~As of December 31, 2021, the balance of loan receivables amounting to $98,243, which was from third parties.~~13

~~On September 8, 2021, the Company entered into~~KENONGWO aGROUP ~~“Loan Agreement” with a third party. Pursuant to the Loan Agreement~~US, ~~the Company loaned the amount of $23,631 (RMB155,664) to the third party interest-free from September 8, 2021 to September 7, 2023~~INC.

~~On May 8, 2021, the Company entered into a “Loan~~NOTES ~~Agreement”~~TO ~~with~~UNAUDITED aCONDENSED ~~third~~CONSOLIDATED ~~party.~~FINANCIAL ~~Pursuant to the Loan Agreement, the Company loaned the amount of $74,612 (RMB475,701) to the third party interest-free from May 8, 2021 to May 8, 2023.~~STATEMENTS

NOTE 7 5 – ~~INVENTORIES~~PLANT AND EQUIPMENT (CONTINUED)

~~Inventories~~As of ~~consisted~~March 31, 2023 and March 31, 2022, depreciation expense amounted to $59,597 and $35,026, respectively. Depreciation is not taken during the period of construction or equipment installation. Upon completion of the ~~following:~~installation of manufacturing equipment or any construction in progress, construction in progress balances will be classified to their respective property and equipment category.

	September 30, 2022		December 31, 2021
Raw materials	$	171,433	$	119,196
Work in Progress		12,962		-
Packing materials		-		14,303
Finished goods		153,376		138,175
Total, net	$	337,771	$	271,674

The construction in progress of $97,551 and $96,249 as of March 31, 2023 and December 31, 2022 represents the investment in building a processing plant and warehouse.

12NOTE 8 – INTANGIBLE ASSETS

~~KENONGWO~~Intangible assets ~~GROUP~~consisted ~~US,~~of ~~INC.~~the following:

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

	March 31,			December 31,
	2023			2022

Non-patented technology	$	72,762		$	71,792
System and software		6,443			6,357
Less: Accumulated amortization		(36,483	)		(33,804	)
	$	42,722		$	44,345

~~NOTE~~The Company 6invested –in ~~ADVANCES~~the ~~AND~~development ~~PREPAYMENTS~~of a product tracking system design, detect and defend against counterfeit products. The Company’s original cost was $72,762 and $71,792 as of March 31, 2023 and December 31, 2022, respectively.

~~The prepayment balance~~ As of ~~$39,819~~March ~~and $152~~31,~~750~~ as2023 ~~of September 30, 2022~~ and ~~December~~March 31, ~~2021~~2022, ~~mainly~~amortization ~~represents~~expenses ~~the~~of ~~advanced~~intangible ~~payment~~assets towere ~~the~~$2,290 ~~suppliers~~and ~~for~~$2,142, ~~business purpose~~respectively.

NOTE 9 7 – ~~PROPERTY,~~LONG-TERM ~~PLANT AND EQUIPMENT~~LOANS

~~Plant~~On February ~~and~~5, ~~equipment~~2021, atthe ~~September~~Company 30entered into a new unsecured loan agreement with Yichun Village Commercial Bank in the amount of $464,389, with ~~2022~~a due date of February 4, 2024. The loan carried an annualized interest rate of 7%. As of March 31, 2023 and December 31, ~~2021~~2022, the ~~consisted~~outstanding amount of the loan payable was $436,573 and $430,750. As of March 31, 2023 and 2022, the Company recognized interest expenses of: $6,858 and $8,355.

	September 30, 2022			December 31, 2021
Building	$	1,288,544		$	1,431,968
Operating equipment		636,098			677,518
Vehicle		20,198			20,590
Office equipment		96,843			105,847
		2,041,683			2,235,923
Less: Accumulated depreciation		(212,885	)		(136,239	)
		1,828,798			2,099,684
Construction in progress		94,417			94,892
	$	1,923,215		$	2,194,576

NOTE 10 ACCRUED EXPENSES AND OTHER PAYABLES

~~As of September 30, 2022 and September 30, 2021,~~Accrued ~~depreciation~~expenses ~~expense amounted to $97,298~~ and ~~$34,725,~~other ~~respectively.~~payables ~~Depreciation~~consisted ~~is not taken during the period~~ of ~~construction or equipment installation. Upon completion of~~ the ~~installation of manufacturing equipment or any construction in progress, construction in progress balances will be classified to their respective property and equipment category.~~following:

The construction in progress of $94,417 and $94,892 as of September 30, 2022 and December 31, 2021 represents the investment in building a processing plant and warehouse.

	March 31,		December 31,
	2023		2022

Rental payable	$	483,455	$	426,558
Other payable		83,980		76,943
Amount due to third parties		406,728		182,773
Salary and related payables		85,526		146,967
Accrued expenses		205,452		240,942
Total	$	1,265,141	$	1,074,183

~~NOTE~~Amount due 8to –third ~~INTANGIBLE~~parties ~~ASSETS~~are obtained for working capital purposes.

~~Intangible~~Amount due ~~assets~~to ~~consisted~~third ofparties ~~the~~are ~~following:~~unsecured, non-interest bearing and repayable on demand.

	September 30,			December 31,
	2022			2021
Non-patented technology	$	73,664		$	80,255
Less: Accumulated amortization		(31,035	)		(27,750	)
	$	42,629		$	52,505

Other payables relate to amount due to vendors for purchase of machineries and equipment not settled as of March 31, 2023 and December 31, 2022.

1314

KENONGWO GROUP US, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

NOTE 11 8 – ~~INTANGIBLE~~RELATED ~~ASSETS~~PARTY ~~(CONTINUED)~~TRANSACTIONS

~~The~~As of ~~Company~~March ~~invested~~31, in2023 and December 31, 2022, the ~~development~~outstanding balances of a$55,299 ~~product~~and $54,562 were ~~tracking~~due ~~system~~to ~~which,~~Mr. ~~detect~~Keqi ~~and~~Li, ~~defend~~the ~~against~~supervisor ~~counterfeit~~of ~~products~~the Company. ~~The~~These ~~Company’s~~balances ~~original~~were ~~cost~~advances ~~was~~made ~~$73,664~~to ~~and~~the ~~$80,255~~Company asfor ofgeneral working capital purposes. ~~September~~The ~~30,~~amounts ~~2022~~are ~~and~~due ~~December~~on 31demand, ~~2021~~non-interest bearing, ~~respectively~~and unsecured.

As of ~~September~~March 3031, ~~2022~~2023 and ~~September~~December 3031, ~~2021~~2022, ~~amortization~~ ~~expenses~~the ofoutstanding ~~intangible~~balance ~~assets~~due ~~were~~to shareholders was $68,~~571~~088 and $6234,~~174~~849, respectively.

NOTE 12 9 – ~~LONG-TERM LOANS~~CONCENTRATIONS

~~On February 5, 2021, the Company entered into~~Customers a new unsecured loan agreement with Yichun Village Commercial Bank in the amount of $464,389, with a due date of February 4, 2024. The loan carried an annualized interest rate of 7%. As of September 30, 2022 and December 31,2021, the outstanding amount of the loan payable was $422,547 and $470,537 respectively. As of September 30, 2022 and September 30, 2021, the Company recognized interest expenses of $24,177 and $21,406 respectively. Concentrations

~~NOTE~~The following table sets forth information as to each customer that accounted for 10% –or ~~RELATED~~more ~~PARTY~~of ~~TRANSACTIONS~~the Company’s revenues as of March 31, 2023 and 2022.

As of September 30, 2022 and December 31, 2021, the outstanding balance due to related parties was $757,263 and $3,070,210, respectively.

	March 31, 2023				March 31, 2022
Customers	Amount $		%		Amount $		%
Jiangxi Zhensen Agricultural Technology Co., Ltd		503,933		23.79		672,148		35.49
Jiangxi Yebao Technology Co., Ltd		462,688		21.84		490,520		25.90
Hainan Yijing Agricultural Development Co., Ltd		366,701		17.31		-		-
Ganzhou Jinruisheng Ecological Agriculture Development Co., Ltd		303,710		14.34		-		-
Tonggu Sibo Agricultural Development Co., Ltd		299,960		14.16		-		-
Jiangxi Menglai Agricultural Development Co., Ltd		-		-		611,154		32.26

As of September 30, 2022 and December 31, 2021, the outstanding balances of $450,437 and $2,738,029 respectively were due to Ms. Yuhua Zhang, a shareholder of the Company. The balances were advances made to the Company for general working capital purposes. The amounts are due on demand, non-interest bearing, and unsecured.15

~~As of September 30, 2022 and December 31, 2021,~~KENONGWO ~~the~~GROUP ~~outstanding balances of $83~~US,~~580~~ ~~and $85,574 respectively were due to Mr~~INC. Jianjun Zhong, the controlling shareholder, President, Treasurer and Secretary of the Company. These balances were advances made to the Company for general working capital purposes. The amounts are due on demand, non-interest bearing, and unsecured.

~~As of September 30, 2022 and December 31, 2021,~~NOTES ~~the~~TO ~~outstanding~~UNAUDITED ~~balance~~CONDENSED ~~due~~CONSOLIDATED toFINANCIAL ~~Kaituo Real Estate Development Co., Ltd was $223,246 and $246,607 respectively.~~STATEMENTS

NOTE 12 11 – CONCENTRATIONS (CONTINUED)

~~Customers~~ Suppliers Concentrations

The following table sets forth information as to each ~~customer~~supplier that accounted for 10% or more of the Company’s ~~revenues~~purchase as of ~~September 30~~March 31, ~~2022~~2023 and ~~2021~~2022.

Customers	September 30, 2022				September 30, 2021
	March 31, 2023				March 31, 2022
	Amount $		%		Amount $		%
Suppliers	Amount $		%		Amount $		%
A		1,471,954		28.25		48,209		13.80
Bozhou Lifeng Manure Technology Co., Ltd		436,118		33.40		733,197		55.98
Yifeng Ronghua Carbon Industry Co., Ltd		252,299		19.32		-		-
Jiangxi Shanghe Ecological Agriculture Co., Ltd		210,500		16.12		-		-
Nanchang Mingrui Chemical Co., Ltd		181,560		13.91		-		-
Nanchang Fuying Plastic Industry Co., Ltd		156,684		12.00		-		-
Yuanzhou District Sanyi Chemical Products Sales Department		-		-		446,293		34.07

14Credit Risks

~~KENONGWO~~The Company’s ~~GROUP~~operations USare carried out in the PRC. Accordingly, ~~INC~~the Company’s business, financial condition and results of operations may be influenced by the political, economic and legal environment in the PRC, and by the general state of the PRC’s economy. The Company’s operations in the PRC are subject to specific considerations and significant risks not typically associated with companies in North America. The Company’s results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things.

~~NOTES~~Financial instruments TOwhich ~~UNAUDITED~~potentially ~~CONDENSED~~subject ~~CONSOLIDATED~~the ~~FINANCIAL~~Company to concentrations of credit risk consist principally of cash and trade accounts receivable. ~~STATEMENTS~~Substantially all of the Company’s cash is maintained with state-owned banks within the PRC, and none of these deposits are covered by insurance. The Company has not experienced any losses in such accounts and believes it is not exposed to any risks on its cash in bank accounts. A significant portion of the Company’s sales are credit sales which are primarily to customers whose ability to pay is dependent upon the industry economics prevailing in these areas; however, concentrations of credit risk with respect to trade accounts receivables is limited due to generally short payment terms. The Company also performs ongoing credit evaluations of its customers to help further reduce credit risk. As of March 31, 2023 and December 31, 2022, the Company’s cash balances by geographic area were as follows:

NOTE 11 – CONCENTRATIONS (CONTINUED)

	March 31,				December 31,
	2023				2022
United States	$	4,611	68.36	%	$	4,611	1.97	%
China		2,134	31.64	%		229,437	98.03	%
Total cash and cash equivalents	$	6,745	100	%	$	234,048	100	%

~~Suppliers Concentrations~~16

~~The following table sets forth information as~~KENONGWO toGROUP ~~each supplier that accounted for 10% or more of the Company’s purchase as of September 30~~US, ~~2022 and 2021~~INC.

Suppliers	September 30, 2022				September 30, 2021
	Amount $		%		Amount $		%
A		1,474,083		37.18		-		-
B		428,973		10.82		-		-

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

~~Credit~~NOTE 13 ~~Risks~~– INCOME TAXES

The ~~Company’s operations are carried out~~ ~~in the PRC. Accordingly, the~~ Company’s ~~business,~~primary ~~financial condition and results of~~ operations ~~may~~are belocated ~~influenced by the political, economic and legal environment~~ in the PRC~~, and by the general state of the PRC’s economy~~. The Company’s ~~operations~~is inhigh ~~the PRC~~tech enterprises are subject to ~~specific~~corporate ~~considerations~~income ~~and~~tax ~~significant risks not typically associated with companies in North America. The Company’s~~at ~~results~~a ~~may~~reduced berate ~~adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods~~ of ~~taxation, among other things~~15%.

~~Financial~~The following ~~instruments~~tables ~~which~~provide ~~potentially subject~~ the ~~Company~~reconciliation ~~to concentrations~~ of ~~credit risk consist principally of cash and trade accounts receivable. Substantially all of~~ the ~~Company’s cash~~differences isbetween ~~maintained with state-owned banks within~~ the ~~PRC,~~statutory and ~~none~~effective oftax ~~these~~expenses ~~deposits~~for ~~are covered by insurance. The Company has not experienced any losses in such accounts and believes it is not exposed to any risks on its cash in bank accounts. A significant portion of~~ the ~~Company’s sales~~three ~~are credit sales which are primarily to customers whose ability to pay is dependent upon the industry economics prevailing in these~~months ~~areas;~~ended ~~however,~~March concentrations of credit risk with respect to trade accounts receivables is limited due to generally short payment terms. The Company also performs ongoing credit evaluations of its customers to help further reduce credit risk. As of September 3031, ~~2022~~2023 and ~~December~~ ~~31, 2021, the Company’s cash balances by geographic area were as follows~~2022:

	September 30, 2022						December 31, 2021
	March 31, 2023			March 31, 2022
United States	$	4,821			83	%	$	4,821	51	%
Income (Loss) before tax	$	449,721		$	107,620
China		989			17	%		4,712	49	%
PRC Statutory Tax at 15% Rate		67,458			16,143
Total cash and cash equivalents	$	5,810			100	%	$	9,533	100	%
Utilization of deferred tax benefits previously not recognized		(67,458	)		(16,143	)
Income tax	$	-		$	-

15Accounting for Uncertainty in Income Taxes

~~KENONGWO~~The tax ~~GROUP~~authority USof the PRC government conducts periodic and ad hoc tax filing reviews on business enterprises operating in the PRC after those enterprises complete their relevant tax filings. Therefore, ~~INC~~the Company’s PRC entities’ tax filings results are subject to change. It is therefore uncertain as to whether the PRC tax authority may take different views about the Company’s PRC entities’ tax filings, which may lead to additional tax liabilities.

~~NOTES~~ASC 740 TOrequires ~~UNAUDITED~~recognition ~~CONDENSED~~and ~~CONSOLIDATED~~measurement ~~FINANCIAL~~of uncertain income tax positions using a “more-likely-than-not” approach. The management ~~STATEMENTS~~evaluated the Company’s tax positions and concluded that no provision for uncertainty in income taxes was necessary for the three months ended March 31, 2023 and 2022.

NOTE 14 12 – ~~INCOME~~SUBSEQUENT ~~TAXES~~EVENTS

The ~~Company’s primary operations are located~~ ~~in the PRC. The~~ Company ishas ~~subject~~evaluated tosubsequent ~~Small~~events ~~Low-profit~~through ~~Enterprises Tax in which~~ the ~~Company~~date ~~is subject to Half-reduced Enterprise Income Tax and enterprise income tax at the reduced rate~~ of ~~20%, i.e. for~~ the ~~net~~issuance ~~profit below RMB 1,000,001 (USD 151,181), the taxable income is 50%~~ of the ~~net~~consolidated ~~profit,~~financial ~~multiplied~~statements byand ~~the~~no ~~20%~~subsequent ~~enterprise income tax rate, which result in an effective income tax rate of 10% from the~~event ~~full net profit, if such net profit~~ is ~~below RMB 1,000,001 (USD 151,181)~~identified.

~~The following tables provide the reconciliation of the differences between the statutory and effective tax expenses for the nine months ended September 30, 2022 and 2021:~~17

	September 30, 2022			September 30, 2021
Income (Loss) attributed to PRC operations	$	460,554		$	(657,821	)
Loss attributed to State of Nevada		(42	)		(42	)
Income (Loss) before tax		460,512			(657,863	)
PRC Statutory Tax at 20% /10%		92,102			(65,786	)
Deferred tax assets losses not recognized		-			65,786
Valuation allowance		(92,102	)		-
Income tax	$	-		$	-

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

~~Accounting for Uncertainty in Income Taxes~~Business Overview

~~The~~We primarily ~~tax~~engage ~~authority~~in ofresearching, ~~the~~developing, ~~PRC~~manufacturing ~~government conducts periodic~~ and adselling ~~hoc~~bamboo ~~tax~~charcoal ~~filing~~biomass ~~reviews~~organic onfertilizers, ~~business~~amino ~~enterprises~~acid ~~operating~~water-soluble fertilizers, inselenium-rich ~~the~~foliage ~~PRC~~fertilizers ~~after~~and ~~those~~other ~~enterprises~~types ~~complete~~of ~~their~~fertilizers ~~relevant~~in ~~tax filings. Therefore,~~ the ~~Company’s~~ PRC ~~entities’~~through ~~tax~~our ~~filings~~subsidiary, ~~results~~Jiangxi ~~are~~Kenongwo ~~subject~~Technology Co., ~~to change~~Ltd. It(“Jiangxi isKenongwo”), ~~therefore~~a ~~uncertain~~company asincorporated ~~to whether~~under the ~~PRC~~laws ~~tax~~of ~~authority may take different views about~~ the ~~Company’s~~ PRC ~~entities’ tax filings, which may lead to additional tax liabilities~~.

~~ASC~~We generated ~~740~~our ~~requires~~revenue ~~recognition~~from ~~and~~the ~~measurement~~sales of ~~uncertain~~ ~~income~~our ~~tax~~organic ~~positions~~fertilizers. ~~using~~We acurrently ~~“more-likely-than-not”~~have ~~approach.~~one ~~The~~integrated ~~management~~factory ~~evaluated~~covering ~~the~~a ~~Company’s~~land ~~tax~~area ~~positions~~of 143,590 ~~and~~square ~~concluded~~feet ~~that~~in noYichun ~~provision~~City, ~~for~~Jiangxi ~~uncertainty~~Province, PRC to produce our organic fertilizers, which has been in ~~income~~operations ~~taxes~~since ~~was~~2017. ~~necessary~~We ~~for~~plan to ~~the~~expand ~~nine~~our ~~months~~production ~~ended~~capacity ~~September~~and ~~30,~~build ~~2022~~an automatic and ~~2021~~standardized production line.

~~NOTE~~We believe 13that –our ~~SUBSEQUENT~~brand ~~EVENTS~~reputation and ability to tailor our products to meet the requirements of various regions of the PRC affords us a competitive advantage. We purchase the majority of our raw materials from suppliers located in the PRC and use suppliers that are located in close proximity to our manufacturing facilities, which helps us to control our cost of revenue.

~~The~~Amidst the ~~Company~~COVID-19 ~~evaluates~~outbreak ~~subsequent~~in ~~events~~2020, ~~that~~our ~~have occurred~~business ~~after~~operations were adversely impacted. In particular, the ~~balance~~lockdown ~~sheet~~policy ~~date~~in ~~but~~China ~~before~~has ~~the~~caused delays ~~financial~~in ~~statements~~the ~~are~~logistics ~~issued.~~industry ~~There~~and ~~are~~consequently, ~~two~~the ~~types~~supply of ~~subsequent~~our ~~events:~~raw ~~(1)~~materials ~~recognized, or~~was ~~those~~impacted. ~~that~~In ~~provide~~addition, ~~additional~~the ~~evidence~~restrictions ~~with~~of ~~respect~~ face-to-face interactions ~~conditions~~have ~~that~~slowed ~~existed~~down at the ~~dates~~process of ~~the~~our ~~balance sheets~~marketing, ~~including~~client ~~the~~meeting ~~estimates inherent~~and innew ~~the~~products ~~process~~launching activities. The spread of ~~preparing~~COVID-19 has ~~financial~~been ~~statements,~~effectively ~~and~~controlled ~~(2)~~in ~~non-recognized,~~China. orPeople’s ~~those~~daily ~~that~~life ~~provide~~and ~~evidence~~businesses’ ~~with~~operations ~~respect~~started going to ~~conditions~~normalcy. As a ~~that~~result, ~~did~~we ~~not~~believe ~~exist~~these atnegative ~~the~~impacts ~~date~~are oftemporary. However, there is significant uncertainty around the ~~balance~~breadth ~~sheet~~and ~~but~~duration ~~arose~~of business ~~subsequent~~disruptions related to ~~that~~COVID-19, ~~date.~~as ~~The~~well ~~Company~~as ~~has~~its ~~analyzed~~impact ~~its~~on ~~operations~~the ~~subsequent to~~economy ~~September~~of ~~30,~~China ~~2022~~and tothe rest of the ~~date~~world ~~these~~and, ~~unaudited~~as ~~condensed~~such, ~~consolidated~~the ~~financial~~extent of ~~statements~~the ~~were~~business ~~issued,~~disruption and ~~has~~the ~~determined~~related ~~that~~financial ~~it does~~impact ~~not~~cannot ~~have~~be ~~any~~reasonably ~~material~~estimated ~~events~~at tothis ~~disclose~~time.

16China is the principal market for our products, which are primarily sold to our customers through distributors in over twenty provinces in China, including Jiangxi, Hunan, Hubei, Fujian, Jiangsu, Shanghai, Zhejiang, Sichuan, Chongqing, Guangdong, Hainan, Xinjiang, Guizhou, Anhui, Shandong, Shanxi, Shaanxi, Liaoning, Jilin, Heilongjiang, Yunnan and Guangxi provinces.

~~ITEM~~Critical Accounting ~~2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.~~Policies

~~Business~~Management’s discussion ~~Overview~~and analysis of our financial condition and results of operations are based upon our consolidated financial statements, which have been prepared in accordance with US GAAP. Our financial statements reflect the selection and application of accounting policies that require management to make significant estimates and judgments. We believe the following critical accounting policies used in the preparation of our financial statements require significant judgments and estimates. For additional information relating to these and other accounting policies, see Note 2 to our financial statements included elsewhere in this report.

~~We primarily engage in researching,~~Basis ~~developing, manufacturing and selling bamboo charcoal biomass organic fertilizers, amino acid water-soluble fertilizers, selenium-rich foliage fertilizers and other types~~ of ~~fertilizers in the PRC through our subsidiary, Jiangxi Kenongwo Technology Co., Ltd. (“Jiangxi Kenongwo”), a company incorporated under the laws of the PRC.~~Presentation

~~We generated our revenue from~~Our ~~the~~financial ~~sales~~statements ofare ~~our~~prepared ~~organic~~in ~~fertilizers.~~accordance Wewith ~~currently~~generally ~~have~~accepted ~~one~~accounting ~~integrated~~principles ~~factory covering a land area of 143,590 square feet~~ in ~~Yichun~~the ~~City, Jiangxi~~United ~~Province~~States, ~~PRC~~or ~~to produce our organic fertilizers, which has been in operations since 2017~~U.S. ~~We plan to expand our production capacity and build an automatic and standardized production line~~GAAP.

~~We believe that our brand~~Going reputation and ability to tailor our products to meet the requirements of various regions of the PRC affords us a competitive advantage. We purchase the majority of our raw materials from suppliers located in the PRC and use suppliers that are located in close proximity to our manufacturing facilities, which helps us to control our cost of revenue.Concern

~~Amidst~~The ~~the~~accompanying ~~COVID-19~~consolidated ~~outbreak in~~financial ~~2020,~~statements ~~our~~have ~~business~~been ~~operations were adversely impacted. In particular, the lockdown policy in China has caused delays in the logistics~~prepared ~~industry~~assuming ~~and~~that ~~consequently,~~ the ~~supply~~Company ofwill ~~our~~continue ~~raw~~as ~~materials~~a ~~was~~going ~~impacted.~~concern Inas ~~addition,~~ the ~~restrictions~~Company’s ofnet ~~face-to-face~~income ~~interactions~~is ~~have slowed~~positive ~~down~~on ~~the~~March ~~process of our marketing~~31, ~~client~~2023 ~~meeting~~ and ~~new~~the ~~products launching activities. The spread of COVID-19 has been effectively~~Company ~~controlled~~is inable ~~China. People’s daily life and businesses’ operations started going~~ to ~~normalcy.~~obtain Asfinancial asupport ~~result,~~from weshareholder ~~believe these negative impacts are temporary. However, there is significant uncertainty around the breadth and duration of business disruptions related~~ to ~~COVID-19,~~meet ~~as well as~~ its ~~impact~~short onterm ~~the~~liquidity ~~economy of China and the rest of the world and, as such, the extent of the business disruption and the related financial impact cannot be reasonably estimated at this time~~shortage.

~~China is the principal market~~The ~~for~~Company ~~our~~plans ~~products, which are primarily sold~~ to ~~our~~continue ~~customers~~its ~~through~~expansion ~~distributors~~and ~~in over twenty provinces in China~~investments, ~~including~~which ~~Jiangxi, Hunan,~~will ~~Hubei,~~require ~~Fujian,~~continued ~~Jiangsu,~~improvements ~~Shanghai,~~in ~~Zhejiang~~revenue, ~~Sichuan,~~net ~~Chongqing~~income, ~~Guangdong, Hainan, Xinjiang, Guizhou, Anhui, Shandong, Shanxi, Shaanxi, Liaoning, Jilin, Heilongjiang, Yunnan~~ and ~~Guangxi~~cash ~~provinces~~flows.

~~Critical Accounting Policies~~18

~~Management’s discussion~~Revenue and analysis of our financial condition and results of operations are based upon our consolidated financial statements, which have been prepared in accordance with US GAAP. Our financial statements reflect the selection and application of accounting policies that require management to make significant estimates and judgments. We believe the following critical accounting policies used in the preparation of our financial statements require significant judgments and estimates. For additional information relating to these and other accounting policies, see Note 2 to our financial statements included elsewhere in this report.Recognition

~~Basis~~The Company adopted ASC 606 “Revenue Recognition”, and recognizes revenue when control of ~~Presentation~~the promised goods or services is transferred to customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services.

~~Our~~The Company ~~financial~~derives ~~statements~~its ~~are prepared~~revenues infrom ~~accordance~~the ~~with~~sale ~~generally~~of ~~accepted~~fertilizer ~~accounting~~products. ~~principles~~The Company applies the following five steps in order to determine the ~~United~~appropriate ~~States,~~amount orof ~~U.S.~~revenue ~~GAAP.~~to be recognized as it fulfils its obligations under each of its agreements:

~~Going~~● ~~Concern~~identify the contract with a customer; ● identify the performance obligations in the contract; ● determine the transaction price; ● allocate the transaction price to performance obligations in the contract; and ● recognize revenue as the performance obligation is satisfied.

~~The accompanying unaudited~~Results ~~condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The Company has reported a net income~~ of $460,512 for the nine months ended September 30, 2022. As of September 30, 2022, the Company had an accumulated deficit of $1,976,445, working capital deficit of $372,583 and net cash used in operating activities for the nine months ended September 30, 2022 was $514,182.Operations

~~The Company plans to continue~~Comparison ~~its~~of ~~expansion~~the ~~and~~Three ~~investments,~~months ~~which~~ended ~~will~~March ~~require continued improvements in revenue~~31, ~~net~~2023 ~~income,~~ and ~~cash flows.~~2022

	For the Three months ended March 31,						Variance
	2023			2022			Amount			%
	$			$			$
Revenues		2,118,522			1,894,177			224,345			11.84
Cost of revenues		1,428,443			1,428,427			16			-
Gross profit		690,079			465,750			224,329			48.17
Operating expenses:
Selling expenses		62,521			63,947			(1,426	)		(2.23	)
General and administrative expenses		172,114			285,199			(113,085	)		(39.65	)
Total operating expenses		234,635			349,146			(114,511	)		(32.80	)
Income from operations		455,444			116,604			338,840			290.59
Other income (expense):
Interest expense		(6,858	)		(8,355	)		1,497			(17.92	)
Other income, net		3,175			159			3,016			1896.86
Other expenses		(2,040	)		(788	)		(1,252	)		158.88
Total other income		(5,723	)		(8,984	)		3,261			(36.30	)
Income before income taxes		449,721			107,620			342,101			317.88
Income taxes		-			-			-			-
Net income		449,721			107,620			342,101			317.88

Revenue ~~Recognition~~

~~The~~For the ~~Company~~three ~~adopted~~months ~~ASC~~ended ~~606 “Revenue~~March ~~Recognition”~~31, ~~and~~2023, ~~recognizes~~our total revenue ~~when~~was ~~control~~$2,118,522, ofrepresenting ~~the~~an ~~promised~~increase ~~goods~~of or11.84% ~~services~~compared ~~is transferred~~ to ~~customers~~$1,894,177 for inthe ansame ~~amount~~period ~~that~~in ~~reflects~~2022. ~~the~~This ~~consideration~~increase wewas ~~expect~~mainly due to bean ~~entitled~~increase to in ~~exchange~~demand ~~for~~of ~~those~~our ~~goods~~products orafter ~~services~~the Company developed and obtained more customers.

●The Company’s ~~identify~~disaggregate ~~the~~revenue ~~contract~~streams ~~with~~are asummarized customer; ● identify the performance obligations in the contract; ● determine the transaction price; ● allocate the transaction price to performance obligations in the contract; and ● recognize revenue as ~~the performance obligation is satisfied.~~follows:

Results of Operations

	For the Three months ended March 31,
	2023		2022
Revenues – Solid organic fertilizers	$	2,118,522	$	1,894,177
Total revenues	$	2,118,522	$	1,894,177

~~Comparison~~ Cost of ~~the Three months ended September 30, 2022 and 2021~~revenues

	For the Three months ended September 30,						Variance
	2022			2021			Amount			%
	$			$			$
Revenues		1,662,135			69,565			1,592,570			2289.33	%
Cost of revenues		1,233,295			54,022			1,179,273			2182.95	%
Gross profit		428,840			15,543			413,297			2659.06	%
Operating expenses:
Selling expenses		46,503			86,592			(40,089	)		(46.30	)%
General and administrative expenses		151,561			139,884			11,677			8.35	%
Total operating expenses		198,064			226,476			(28,412	)		(12.55	)%
Income (Loss) from operations		230,776			(210,933	)		441,709			(209.41	)%
Other income (expense):
Interest expense		(7,815	)		(8,292	)		477			(5.75	)%
Other income (expense), net		(9,940	)		(2,458	)		(7,482	)		304.39	%
Total other (expense) income		(17,755	)		(10,750	)		(7,005	)		65.16	%
Income (Loss) before income taxes		213,021			(221,683	)		434,704			(196.09	)%
Income taxes		-			-			-			-
Net income (loss)		213,021			(221,683	)		434,704			(196.09	)%

Cost of revenues for the fertilizers was $1,428,443and $1,428,427 for the three months ended March 31, 2023 and 2022, respectively, an increase $16. The small increase in cost of sales was due to the liberalization of the logistics industry the Company’s raw material costs have also been reduced.

~~Revenue~~The Company’s disaggregate cost of revenues streams are summarized as follows:

For the three months ended September 30, 2022, our total revenue was $1.66 million, representing an increase of 2289.33% compared to $0.07 million for the same period in 2021. This increase was mainly due to an increase in demand of our products after the Company developed and obtained more customers.

	For the Three months ended March 31,
	2023		2022
Cost of revenues – Bamboo charcoal biomass organic fertilizers	$	1,428,443	$	1,428,427
Total cost of revenues	$	1,428,443	$	1,428,427

18Gross Profit

~~The~~Our gross ~~Company’s~~profit ~~disaggregate~~was $690,079 and $465,750 with gross margin of 32.57% and 24.59%, for the three months ended March 31, 2023 and 2022, respectively. ~~revenue~~The ~~streams~~increase ~~are~~in ~~summarized~~gross asprofit ~~follows:~~was due to cost of sales was reduced.

	For the Three months ended September 30,
	2022		2021
Revenues – Solid organic fertilizers	$	1,662,135	$	35,404
Revenues – Liquid organic fertilizers		-		34,161
Total revenues	$	1,662,135	$	69,565

~~Cost of revenues~~Selling Expenses

~~Cost~~Our selling ofexpenses ~~revenues~~were $62,521 for the ~~fertilizers~~ ~~was~~three months ended March 31, 2023, representing a decrease of $1,426 or 2.23% ~~million~~compared ~~and~~to $~~0.05 million~~ 63,947 for the three months ended ~~September~~March 3031, 2022. ~~and~~Selling ~~2021,~~expenses ~~respectively,~~are ~~representing~~not ~~an increase~~much ofdifferent ~~2182.95%.~~compared ~~The~~to ~~increase~~the insame ~~cost~~period of ~~revenues~~last ~~was~~fiscal ~~in line with an increase in revenue~~year.

~~The Company’s disaggregate~~General ~~cost~~and ofAdministrative ~~revenues streams are summarized as follows:~~Expenses

	For the Three months ended September 30,
	2022		2021
Cost of revenues – Bamboo charcoal biomass organic fertilizers	$	1,233,295	$	25,818
Cost of revenues – Others		-		28,204
Total cost of revenues	$	1,233,295	$	54,022

General and administrative expenses decreased by $113,085, or 39.65% from $285,199 for the three months ended March 31, 2022 to $172,114 for the same period in 2023. This decrease was mainly due to gift, meal, and conference expenses was reduced.

~~Gross~~Research and ~~Profit~~Development (“R&D”) Expenses

~~Our~~Research ~~gross~~and ~~profit~~development ~~was $0.43~~expenses ~~million~~include salaries and ~~$0.02~~other ~~million~~compensation-related ~~with~~expenses ~~gross~~paid ~~margin~~to ofthe ~~25.80%~~Company’s research and ~~22.34%,~~product ~~for~~development ~~the~~personnel ~~three~~while they ~~months~~are ~~ended~~working ~~September~~on 30R&D projects, ~~2022~~as ~~and~~well ~~2021,~~as ~~respectively. The~~raw ~~gross~~materials ~~margin~~used ~~increased~~for ~~because~~ the ~~revenue~~R&D ~~increased 2289~~projects.~~33%~~ ~~while~~R&D ~~the~~expenses ~~cost~~incurred ofby ~~revenue~~the ~~increased~~Company are ~~2182.95%~~included ~~for~~in the ~~three~~general ~~months~~and ~~ended September~~administrative 30expenses and totaled $36,632 ~~2022~~and ~~compared~~$42,529 tofor the ~~same~~three ~~period~~months inended ~~2021~~March 31, 2023 and 2022, respectively.

~~Selling~~Net Income ~~Expenses~~

Our ~~selling~~net ~~expenses~~income ~~were~~ was $46449,~~503~~721 and $107,620 for the three months ended March ~~September 30~~31, 2023 and 2022, respectively, representing aan ~~decrease~~increase of $40342,~~089 or 46~~101.~~30%~~ ~~compared to $86,592 for the three months ended September 30, 2021.~~ It was ~~mainly~~due to the ~~Company~~increase ~~controls~~in ~~costs~~revenues, ~~reduces~~as ~~travel~~discussed ~~expenses, advertising expenses, etc~~above.

~~General~~ Liquidity and ~~Administrative~~Capital ~~Expenses~~Resources

~~General~~Our ~~and~~working ~~administrative~~capital ~~expenses~~deficit ~~increased~~was by $11728,~~677,~~632 ~~or 8.35%~~and ~~from~~ $~~139~~229,~~884~~703 for the three months ended ~~September~~March 3031, ~~2021~~2023 toand ~~$151~~December 31,~~561~~ ~~for the same period in~~ 2022, ~~due to the fact that salary increased~~respectively.

19We have respectively financed our operations over the three months ended March 31, 2023 and 2022 primarily through proceeds from advances from related parties and the long-term loans.

~~Research~~The components ~~and~~of ~~Development~~cash ~~(“R&D”) Expenses~~flows are discussed below:

Research and development expenses include salaries and other compensation-related expenses paid to the Company’s research and product development personnel while they are working on R&D projects, as well as raw materials used for the R&D projects. R&D expenses incurred by the Company are included in the general and administrative expenses and totaled $75,387 and $42,538 for the three months ended September 30, 2022 and 2021, respectively.

	For the Three months ended March 31,
	2023			2022
Net cash used in operating activities	$	(4,653	)	$	(335,858	)
Net cash used in investing activities		(525	)		(10,206	)
Net cash (used in)/provided by financing activities		(238,281	)		356,854
Exchange rate effect on cash		16,156			(11,819	)
Net cash outflow	$	(227,303	)	$	(1,029	)

~~Net Income/(Loss)~~21

~~Our net income (loss) was $213,021 and ($221,683)~~Cash ~~for~~used the three months ended September 30, 2022 and 2021, respectively, representing an increase of $434,704. The Company is at its developing stage and we have incurred more promotion fee by introducing our products to more customers across China during the three months ended September 31, 2021 resulting in ~~significant~~Operating increase in revenue for the three months ended September 30, 2022. The Company also incurred more material cost by developing new product lines. The Company expects that more time is needed to achieve a better balance between our operating expenses and revenues.Activities

~~Comparison~~For of the ~~Nine~~three months ended ~~September~~March 3031, ~~2022~~2023, net cash used in operating activities was $4,653, which consisted primarily of net income of $449,721, which was adjusted by depreciation and ~~2021~~amortization of $61,887. The Company had an increase of $60,933 in account payables and accrued payables, a decrease of $462,970 in accounts receivable, a decrease of $63,031 in prepayments to the suppliers. The Company incurred a decrease in inventories of $46,377 and a decrease in other receivable of $52,166.

	For the Nine months ended September 30,						Variance
	2022			2021			Amount			%
	$			$			$
Revenues		5,210,549			349,259			4,861,290			1391.89	%
Cost of revenues		3,965,173			517,826			3,447,347			665.73	%
Gross profit (loss)		1,245,376			(168,567	)		1,413,943			(838.80	)%
Operating expenses:
Selling expenses		165,306			215,984			(50,678	)		(23.46	)%
General and administrative expenses		495,378			263,670			231,708			87.88	%
Total operating expenses		660,684			479,654			181,030			37.74	%
Loss from operations		584,692			(648,221	)		1,232,913			(190.20	)%
Other income (expense):
Interest expense		(24,177	)		(21,406	)		(2,771	)		12.94	%
Other (expense) income, net		(100,003	)		11,764			(111,767	)		(950.08	)%
Total other income		(124,180	)		(9,642	)		(114,538	)		1187.91	%
Loss before income taxes		460,512			(657,863	)		1,118,375			(170.00	)%
Income taxes		-			-			-			-
Net income (loss)		460,512			(657,863	)		1,118,375			(170.00	)%

For the three months ended March 31, 2022, net cash used in operating activities was $335,858, which consisted primarily of net income of $107,620, which was adjusted by depreciation and amortization of $37,167. The Company had an increase of $303,998 in account payables and accrued payables which was due to the fact that the Company purchased raw materials and paid off the bills in longer terms, a decrease of $635,196 in accounts receivable which was due to longer payment terms offered to loyal customers, a decrease of $26,599 in prepayments to the suppliers for procurement of raw materials and deposit for the building materials and equipment. The Company incurred a decrease in inventories of $81,194 and a decrease in other receivable of $41,654.

~~Revenue~~Cash used in Investing Activities

~~For~~Net ~~the~~cash ~~nine~~used ~~months~~in ~~ended~~investing ~~September~~activities ~~30, 2022, our total revenue~~ was $~~5.21~~525 ~~million, representing an increase of 1391.89% compared to $0.35 million~~ for the ~~same~~three ~~period in~~months ~~2021.~~ended ~~This~~March ~~increase~~31, ~~was~~2023. ~~mainly~~The ~~due~~activities toconsisted anof ~~increase~~$525 in ~~demand~~purchasing ofplant ~~our products after the Company developed~~ and ~~obtained more customers~~equipment.

~~The~~Net ~~Company’s~~cash ~~disaggregate~~used in investing ~~revenue~~activities ~~streams~~was ~~are~~$10,206 ~~summarized~~for asthe ~~follows:~~three months ended March 31, 2022. The activities consisted of $10,206 in purchasing plant and equipment and Intangible assets in progress.

	For the Nine months ended September 30,
	2022		2021
Revenues – Solid organic fertilizers	$	5,210,549	$	278,251
Revenues – Liquid organic fertilizers		-		71,008
Total revenues	$	5,210,549	$	349,259

Cash Provided by Financing Activities

20Net cash used in financing activities was $238,281 for the three months ended March 31, 2023. During this period, Repayment to director of $238,281.

~~Cost~~Net cash provided by financing activities was $356,854 for the three months ended March 31, 2022. During this period, cash provided by financing activities mainly included proceeds from related parties of ~~revenues~~$356,854.

~~Cost of revenues for the~~Off-balance ~~fertilizers~~Sheet was $3.97 million and $0.52 million for the nine months ended September 30, 2022 and 2021, respectively, representing an increase of 665.73%. The increase in cost of revenues was in line with an increase in revenue.Arrangements

~~The~~We have ~~Company~~not entered into any financial guarantees or other commitments to guarantee the payment obligations of any third parties. We have not entered into any derivative contracts that are indexed to its shares and classified as shareholder’s ~~disaggregate~~equity or that are not ~~cost~~reflected ofin ~~revenues~~its ~~streams~~consolidated ~~are~~financial ~~summarized~~statements. Furthermore, we do not have any retained or contingent interest in assets transferred to an unconsolidated entity that serves as ~~follows:~~credit, liquidity or market risk support to such entity. We do not have any variable interest in any unconsolidated entity that provides financing, liquidity, market risk or credit support to us or that engages in leasing, hedging or research and development services with us.

	For the Nine months ended September 30,
	2022		2021
Cost of revenues – Solid organic fertilizers	$	3,965,173	$	415,749
Cost of revenues – Liquid organic fertilizers		-		102,077
Total cost of revenues	$	3,965,173	$	517,826

~~Gross~~ITEM 3 ~~Profit (Loss)~~QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISKS

~~Our gross profit (loss) was~~Liquidity $1.25 million and negative ($0.17) million with gross margin of 23.90% and (48.26%), for the nine months ended September 30, 2022 and 2021, respectively. The negative gross margin improved because the revenue increased 1391.89% while the cost of revenue increased 665.73% for the nine months ended September 30, 2022 compared to the same period in 2021.Risk

~~Selling~~We are ~~Expenses~~also exposed to liquidity risk which is risk that it is unable to provide sufficient capital resources and liquidity to meet its commitments and business needs. Liquidity risk is controlled by the application of financial position analysis and monitoring procedures. When necessary, we will turn to other financial institutions and third parties to obtain short-term funding to meet the liquidity shortage.

~~Our selling expenses were~~Inflation $165,306 for the nine months ended September 30, 2022, representing a decrease of $50,678 or 23.46% compared to $215,984 for the nine months ended September 30, 2021. It was mainly the Company controls costs, reduces travel expenses, advertising expenses, etc.Risk

~~General~~We are also exposed to inflation risk and ~~Administrative~~inflationary ~~Expenses~~factors, such as increases in raw material and overhead costs, which could impair our operating results. Although we do not believe that inflation has had a material impact on our financial position or results of operations to date, a high rate of inflation in the future may have an adverse effect on our ability to maintain current levels of gross margin and operating expenses as a percentage of revenue if the selling prices of our products do not increase with such increased costs.

~~General and administrative~~Foreign ~~expenses~~Currency ~~increased by $231,708, or 87.88% from $263,670 for the nine months ended September 30, 2021 to $495,378 for the same period in 2022 due to increased salaries.~~Risk

~~Research~~All of our operating activities and ~~Development~~a significant portion of our assets and liabilities are denominated in RMB, which is not freely convertible into foreign currencies. All foreign exchange transactions take place either through the Peoples’ Bank of China (“~~R&D~~PBOC”) ~~Expenses~~or other authorized financial institutions at exchange rates quoted by PBOC. Approval of foreign currency payments by the PBOC or other regulatory institutions requires submitting a payment application form together with suppliers’ invoices and signed contracts. The value of RMB is subject to changes in central government policies and to international economic and political developments affecting supply and demand in the China Foreign Exchange Trading System market.

~~Research and development~~ITEM expenses include salaries and other compensation-related expenses paid to the Company’s research and product development personnel while they are working on R&D projects, as well as raw materials used for the R&D projects4. ~~R&D~~CONTROLS ~~expenses~~AND ~~incurred by the Company are included in the general and administrative expenses and totaled $116,342 and $52,856 for the nine months ended September 30, 2022 and 2021, respectively.~~PROCEDURES

~~Net~~Disclosure Controls ~~Income~~and ~~(Loss)~~Procedures

~~Our~~We maintain ~~net~~disclosure ~~income~~controls and procedures (~~loss)~~as ~~was $460,512~~defined ~~and~~in Rule 13a-15(~~$657,863~~e) ~~for~~under the ~~nine~~Exchange ~~months~~Act) ~~ended~~that ~~September~~are ~~30,~~designed ~~2022~~to ~~and~~ensure ~~2021,~~that ~~respectively,~~information required ~~representing~~to anbe ~~increase~~disclosed ofin ~~$1,118,375.~~Exchange ~~The Company~~Act reports is atrecorded, ~~its~~processed, ~~developing~~summarized ~~stage~~ and wereported ~~have~~within ~~incurred~~the ~~more~~time ~~promotion~~periods ~~fee~~specified ~~by introducing our products to more customers across China~~in ~~during~~ the ~~nine~~SEC’s ~~months~~rules ~~ended~~and ~~September 30~~forms, ~~2021~~and ~~resulting~~that insuch ~~significant~~information ~~increase~~is inaccumulated ~~revenue~~and ~~for~~communicated ~~the~~to ~~nine~~our ~~months~~management, ~~ended~~including ~~September~~to ~~30,~~our ~~2022.~~Chief ~~The~~Executive ~~Company~~Officer ~~also~~and ~~incurred~~Chief ~~more~~Financial ~~material~~Officer, ~~cost~~as byappropriate, ~~developing new product lines. The Company expects that more time is needed~~ to ~~achieve a~~allow ~~better~~timely ~~balance~~decisions ~~between~~regarding ~~our~~required ~~operating expenses and revenues~~disclosure.

~~Liquidity~~As required by Rule 13a-15 under the Exchange Act, our management, including our Chief Executive Officer and ~~Capital~~Chief ~~Resources~~Financial Officer, evaluated the effectiveness of the design and operation of our disclosure controls and procedures as of March 31, 2023. Based on that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that as of March 31, 2023, and as of the date that the evaluation of the effectiveness of our disclosure controls and procedures was completed, our disclosure controls and procedures were not effective due to the continuing material weakness in our internal control over financial reporting.

~~Our working capital deficit was $372,583 and $3,760,370 as of September 30, 2022 and December 31, 2021, respectively.~~23

The material weakness and significant deficiency identified by our management as of March 31, 2023 relates to the ability of the Company to record transactions and provide disclosures in accordance with GAAP. We did not have ~~financed~~sufficient and skilled accounting personnel with an appropriate level of experience in the application of GAAP commensurate with our ~~operations~~financial reporting requirements. For example, our ~~over~~staff members do not hold licenses such as Certified Public Accountant or Certified Management Accountant in the ~~nine~~United ~~months~~States, ~~ended~~have not ~~September~~attended 30United States institutions for training as accountants, ~~2022~~and have not attended extended educational programs that would provide sufficient relevant education relating to GAAP. Our staff will require substantial training to meet the demands of a U.S. public company and ~~2021~~our ~~primarily~~staff’s ~~through~~understanding ~~proceeds~~of ~~from~~the ~~advances~~requirements ~~from~~of ~~related~~GAAP-based ~~parties~~reporting is inadequate.

21We plan to provide GAAP training sessions to our accounting team. The training sessions will be organized to help our corporate accounting team gain experience in GAAP reporting and to enhance their awareness of new and emerging pronouncements with potential impact over our financial reporting. We plan to continue to recruit experienced and professional accounting and financial personnel and participate in educational seminars, tutorials, and conferences and employ more qualified accounting staff in future.

~~The~~Changes in ~~components~~Internal ofControls ~~cash~~over ~~flows~~Financial ~~are discussed below:~~Reporting.

	For the Nine months ended September 30,
	2022			2021
Net cash used in operating activities	$	(514,182	)	$	(764,741	)
Net cash used in investing activities		(39,157	)		(463,008	)
Net cash provided by financing activities		588,736			1,232,933
Exchange rate effect on cash		(39,120	)		(6,337	)
Net cash inflow	$	(3,723	)	$	(1,153	)

During the three months ended March 31, 2023, there were no changes in our internal control over financial reporting identified in connection with the evaluation performed during the period covered by this report that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

~~Cash~~Inherent Limitations ~~used~~over inInternal ~~Operating Activities~~Controls.

~~For the nine months ended~~Our ~~September~~internal ~~30,~~control ~~2022,~~over ~~net~~financial ~~cash~~reporting ~~used~~is indesigned operating activities was $514,182, which consisted primarily of net income of $460,512, which was adjusted by depreciation and amortization of $103,869. The Company had an increase of $36,834 in account payables and accrued payables in which it was due to ~~the~~provide ~~Company~~reasonable ~~purchased~~assurance ~~more~~regarding ~~raw materials and pay off~~ the ~~bills~~reliability ~~in longer terms, an increase~~ of ~~$1,120,167 in~~financial ~~accounts receivable which was due to the Company increase of revenue, a decrease of $112,931 in prepayments to the suppliers~~reporting ~~for procurement of raw materials~~ and ~~deposit for~~ the ~~building~~preparation ~~materials and equipment, which were offset by an increase~~ of ~~$66,097~~financial ~~in inventories~~statements ~~and~~for anexternal ~~increase~~purposes in ~~other~~accordance ~~receivable~~with ofGAAP. ~~$42,461~~Our ininternal ~~which~~control itover ~~was~~financial ~~due~~reporting includes tothose anpolicies ~~increase~~and ~~loan~~procedures ~~receivables.~~that:

~~For~~(i) pertain to the ~~nine~~maintenance ~~months~~of ~~ended September~~records 30that, ~~2021, net cash used~~ in ~~operating~~reasonable ~~activities was $764~~detail,~~741,~~ ~~which~~accurately ~~consisted~~and ~~primarily~~fairly ofreflect ~~net~~the ~~loss~~transactions ~~of $657,863, which was adjusted by depreciation~~ and ~~amortization~~dispositions of ~~$40,899.~~our ~~The~~assets; ~~Company~~(ii) ~~had~~provide anreasonable ~~increase~~assurance ofthat ~~$370,068~~transactions inare ~~account~~recorded ~~payables~~as ~~and~~necessary ~~accrued payables in which it was due~~ to ~~the~~permit ~~Company~~preparation ~~purchased~~of ~~more~~financial ~~raw~~statements ~~materials and pay off the bills~~ in ~~longer~~accordance ~~terms,~~with ~~an increase of $10~~GAAP,~~798~~ inand ~~accounts~~that ~~receivable which~~our ~~was~~receipts ~~due~~and toexpenditures ~~longer~~are ~~payment~~being ~~terms~~made ~~were~~only ~~offered~~in toaccordance ~~loyal~~with ~~customers~~authorizations ~~, an increase~~ of ~~$190,971~~our inmanagement ~~prepayments~~and todirectors; ~~the~~and ~~suppliers~~(iii) ~~for~~provide ~~procurement of~~reasonable ~~raw~~assurance ~~materials~~regarding ~~and~~prevention ~~deposit~~or ~~for~~timely ~~the~~detection ~~building~~of ~~materials~~unauthorized ~~and equipment~~acquisition, ~~and an increase of $306~~use,~~913~~ inor ~~inventories~~disposition ~~and an increase in other receivable~~ of ~~$12,693~~our inassets ~~which~~that itcould ~~was~~have ~~due~~a tomaterial aneffect ~~increase~~on ~~loan~~the ~~receivables~~financial statements.

~~Cash~~Management, including ~~used~~our Chief Executive Officer and Chief Financial Officer, does not expect that our internal controls will prevent or detect all errors and all fraud. A control system, no matter how well designed and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in ~~Investing~~all ~~Activities~~control systems, no evaluation of internal controls can provide absolute assurance that all control issues and instances of fraud, if any, have been detected. Also, any evaluation of the effectiveness of controls in future periods are subject to the risk that those internal controls may become inadequate because of changes in business conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Net cash used in investing activities was $39,157 for the nine months ended September 30, 2022. The activities consisted of our investments of $38,806 in purchasing plant and equipment and an adjustment of $1,713 of intangible assets due to currency exchange effect, and an increase in disposal of equipment of $1,362.24

~~Net cash used in investing~~PART ~~activities was $463,008 for the nine months ended September 30, 2021~~II. ~~The~~OTHER ~~activities consisted of our investments of $461,942 in purchasing plant and equipment and an adjustment of $1,066 of intangible assets due to currency exchange effect.~~ INFORMATION

~~Cash~~ITEM 6. ~~Provided by Financing Activities~~EXHIBITS

~~Net~~The ~~cash~~following ~~provided~~exhibits byare ~~financing activities~~included ~~was~~as ~~$588,736~~part ~~for~~of ~~the nine months ended September 30, 2022. During~~ this ~~period,~~report ~~cash provided~~ by ~~financing activities mainly included proceeds from related parties of $588,736.~~reference:

Net cash provided by financing activities was $1,232,933 for the nine months ended September 30, 2021. During this period, cash provided by financing activities mainly included proceeds from related parties of $800,126 and proceeds from long-term loan of $432,807 for operating expenses.

31.1		Certification of Principal Executive Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a).
31.2		Certification of Principal Financial Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a).
32.1		Certification of Principal Executive Officer and Principal Financial Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(b) or 15d-14(b) and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes- Oxley Act of 2002.
101.INS		Inline XBRL Instance Document.
101.SCH		Inline XBRL Taxonomy Extension Schema Document.
101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document.
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document.
104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

~~Off-balance Sheet Arrangements~~25

We have not entered into any financial guarantees or other commitments to guarantee the payment obligations of any third parties. We have not entered into any derivative contracts that are indexed to its shares and classified as shareholder’s equity or that are not reflected in its consolidated financial statements. Furthermore, we do not have any retained or contingent interest in assets transferred to an unconsolidated entity that serves as credit, liquidity or market risk support to such entity. We do not have any variable interest in any unconsolidated entity that provides financing, liquidity, market risk or credit support to us or that engages in leasing, hedging or research and development services with us.SIGNATURES

22Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

ITEM 3 QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISKS

	KENONGWO GROUP US, INC.

Date: July 27, 2023	By:	/s/ Jianjun Zhong
		Name:	Jianjun Zhong
		Title:	President and Chief Executive Officer
			(principal executive officer)

Date: July 27, 2023	By:	/s/ Jianjun Zhong
		Name:	Jianjun Zhong
		Title:	Chief Financial Officer
			(principal financial officer and principal accounting officer)

~~Not applicable.~~26

~~ITEM 4~~ +86 400-915-2178 NONE 0. ~~CONTROLS AND PROCEDURES~~06 101882485 1882485 false --12-31 Q1 0001797762 333-239929 0001797762 2023-01-01 2023-03-31 0001797762 2023-07-27 0001797762 2023-03-31 0001797762 2022-12-31 0001797762 2022-01-01 2022-03-31 0001797762 us-gaap:CommonStockMember 2021-12-31 0001797762 us-gaap:AdditionalPaidInCapitalMember 2021-12-31 0001797762 us-gaap:RetainedEarningsMember 2021-12-31 0001797762 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-12-31 0001797762 2021-12-31 0001797762 us-gaap:CommonStockMember 2022-01-01 2022-03-31 0001797762 us-gaap:AdditionalPaidInCapitalMember 2022-01-01 2022-03-31 0001797762 us-gaap:RetainedEarningsMember 2022-01-01 2022-03-31 0001797762 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-01-01 2022-03-31 0001797762 us-gaap:CommonStockMember 2022-03-31 0001797762 us-gaap:AdditionalPaidInCapitalMember 2022-03-31 0001797762 us-gaap:RetainedEarningsMember 2022-03-31 0001797762 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-03-31 0001797762 2022-03-31 0001797762 us-gaap:CommonStockMember 2022-12-31 0001797762 us-gaap:AdditionalPaidInCapitalMember 2022-12-31 0001797762 us-gaap:RetainedEarningsMember 2022-12-31 0001797762 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-12-31 0001797762 us-gaap:CommonStockMember 2023-01-01 2023-03-31 0001797762 us-gaap:AdditionalPaidInCapitalMember 2023-01-01 2023-03-31 0001797762 us-gaap:RetainedEarningsMember 2023-01-01 2023-03-31 0001797762 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-01-01 2023-03-31 0001797762 us-gaap:CommonStockMember 2023-03-31 0001797762 us-gaap:AdditionalPaidInCapitalMember 2023-03-31 0001797762 us-gaap:RetainedEarningsMember 2023-03-31 0001797762 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-03-31 0001797762 kngwd:MrErhpingPiMember 2018-10-17 0001797762 kngwd:MrJianjunZhongMember 2018-10-20 0001797762 us-gaap:PrivatePlacementMember 2019-09-01 2019-09-06 0001797762 us-gaap:PrivatePlacementMember 2019-09-06 0001797762 kngwd:JiangxiKenongwoMember 2020-02-26 2020-02-26 0001797762 kngwd:JiangxiKenongwoMember 2020-03-02 2020-03-02 0001797762 kngwd:JiangxiKenongwoMember 2020-03-04 2020-03-04 0001797762 kngwd:JiangxiKenongwoMember 2020-03-10 2020-03-10 0001797762 kngwd:JiangxiKenongwoMember 2023-01-01 2023-03-31 0001797762 kngwd:JiangxiKenongwoMember 2019-10-01 2019-10-16 0001797762 kngwd:JiangxiKenongwoMember 2020-01-16 2020-01-16 0001797762 2021-10-05 2021-10-05 0001797762 kngwd:PRCMember 2023-01-01 2023-03-31 0001797762 us-gaap:BuildingMember 2023-03-31 0001797762 srt:MinimumMember us-gaap:EquipmentMember 2023-03-31 0001797762 srt:MaximumMember us-gaap:EquipmentMember 2023-03-31 0001797762 srt:MinimumMember us-gaap:VehiclesMember 2023-03-31 0001797762 srt:MaximumMember us-gaap:VehiclesMember 2023-03-31 0001797762 srt:MinimumMember us-gaap:ElectricGenerationEquipmentMember 2023-03-31 0001797762 srt:MaximumMember us-gaap:ElectricGenerationEquipmentMember 2023-03-31 0001797762 srt:MinimumMember us-gaap:OfficeEquipmentMember 2023-03-31 0001797762 srt:MaximumMember us-gaap:OfficeEquipmentMember 2023-03-31 0001797762 us-gaap:UnpatentedTechnologyMember 2023-03-31 0001797762 2022-09-30 0001797762 2022-10-01 2022-12-31 0001797762 2022-01-01 2022-12-31 0001797762 us-gaap:BuildingMember 2022-12-31 0001797762 us-gaap:EquipmentMember 2023-03-31 0001797762 us-gaap:EquipmentMember 2022-12-31 0001797762 us-gaap:VehiclesMember 2023-03-31 0001797762 us-gaap:VehiclesMember 2022-12-31 0001797762 us-gaap:OfficeEquipmentMember 2023-03-31 0001797762 us-gaap:OfficeEquipmentMember 2022-12-31 0001797762 2021-02-01 2021-02-05 0001797762 kngwd:MrKeqiLiMember 2023-01-01 2023-03-31 0001797762 kngwd:MrKeqiLiMember 2022-01-01 2022-12-31 0001797762 us-gaap:CustomerConcentrationRiskMember 2023-01-01 2023-03-31 0001797762 us-gaap:CustomerConcentrationRiskMember 2022-01-01 2022-03-31 0001797762 us-gaap:SupplierConcentrationRiskMember 2023-01-01 2023-03-31 0001797762 us-gaap:SupplierConcentrationRiskMember 2022-01-01 2022-03-31 0001797762 kngwd:JiangxiZhensenAgriculturalTechnologyCoLtdMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2023-01-01 2023-03-31 0001797762 kngwd:JiangxiZhensenAgriculturalTechnologyCoLtdMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2022-01-01 2022-03-31 0001797762 kngwd:JiangxiYebaoTechnologyCoLtdMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2023-01-01 2023-03-31 0001797762 kngwd:JiangxiYebaoTechnologyCoLtdMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2022-01-01 2022-03-31 0001797762 kngwd:HainanYijingAgriculturalDevelopmentCoLtdMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2023-01-01 2023-03-31 0001797762 kngwd:HainanYijingAgriculturalDevelopmentCoLtdMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2022-01-01 2022-03-31 0001797762 kngwd:GanzhouJinruishengEcologicalAgricultureDevelopmentCoLtdMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2023-01-01 2023-03-31 0001797762 kngwd:GanzhouJinruishengEcologicalAgricultureDevelopmentCoLtdMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2022-01-01 2022-03-31 0001797762 kngwd:TongguSiboAgriculturalDevelopmentCoLtdMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2023-01-01 2023-03-31 0001797762 kngwd:TongguSiboAgriculturalDevelopmentCoLtdMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2022-01-01 2022-03-31 0001797762 kngwd:JiangxiMenglaiAgriculturalDevelopmentCoLtdMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2023-01-01 2023-03-31 0001797762 kngwd:JiangxiMenglaiAgriculturalDevelopmentCoLtdMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2022-01-01 2022-03-31 0001797762 kngwd:PurchaseMember us-gaap:SupplierConcentrationRiskMember kngwd:BozhouLifengManureTechnologyCoLtdMember 2023-01-01 2023-03-31 0001797762 kngwd:PurchaseMember us-gaap:SupplierConcentrationRiskMember kngwd:BozhouLifengManureTechnologyCoLtdMember 2022-01-01 2022-03-31 0001797762 kngwd:PurchaseMember us-gaap:SupplierConcentrationRiskMember kngwd:YifengRonghuaCarbonIndustryCoLtdMember 2023-01-01 2023-03-31 0001797762 kngwd:PurchaseMember us-gaap:SupplierConcentrationRiskMember kngwd:YifengRonghuaCarbonIndustryCoLtdMember 2022-01-01 2022-03-31 0001797762 kngwd:PurchaseMember us-gaap:SupplierConcentrationRiskMember kngwd:JiangxiShangheEcologicalAgricultureCoLtdMember 2023-01-01 2023-03-31 0001797762 kngwd:PurchaseMember us-gaap:SupplierConcentrationRiskMember kngwd:JiangxiShangheEcologicalAgricultureCoLtdMember 2022-01-01 2022-03-31 0001797762 kngwd:PurchaseMember us-gaap:SupplierConcentrationRiskMember kngwd:NanchangMingruiChemicalCoLtdMember 2023-01-01 2023-03-31 0001797762 kngwd:PurchaseMember us-gaap:SupplierConcentrationRiskMember kngwd:NanchangMingruiChemicalCoLtdMember 2022-01-01 2022-03-31 0001797762 kngwd:PurchaseMember us-gaap:SupplierConcentrationRiskMember kngwd:NanchangFuyingPlasticIndustryCoLtdMember 2023-01-01 2023-03-31 0001797762 kngwd:PurchaseMember us-gaap:SupplierConcentrationRiskMember kngwd:NanchangFuyingPlasticIndustryCoLtdMember 2022-01-01 2022-03-31 0001797762 kngwd:PurchaseMember us-gaap:SupplierConcentrationRiskMember kngwd:YuanzhouDistrictSanyiChemicalProductsSalesDepartmentMember 2023-01-01 2023-03-31 0001797762 kngwd:PurchaseMember us-gaap:SupplierConcentrationRiskMember kngwd:YuanzhouDistrictSanyiChemicalProductsSalesDepartmentMember 2022-01-01 2022-03-31 0001797762 country:US 2023-03-31 0001797762 country:US 2023-01-01 2023-03-31 0001797762 country:US 2022-12-31 0001797762 country:US 2022-01-01 2022-12-31 0001797762 country:CN 2023-03-31 0001797762 country:CN 2023-01-01 2023-03-31 0001797762 country:CN 2022-12-31 0001797762 country:CN 2022-01-01 2022-12-31 xbrli:shares iso4217:USD iso4217:USD xbrli:shares iso4217:CNY xbrli:pure

Disclosure Controls and Procedures

We maintain disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act) that are designed to ensure that information required to be disclosed in Exchange Act reports 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 to our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

As required by Rule 13a-15 under the Exchange Act, our management, including our Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of the design and operation of our disclosure controls and procedures as of September 30, 2022. Based on that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that as of September 30, 2022, and as of the date that the evaluation of the effectiveness of our disclosure controls and procedures was completed, our disclosure controls and procedures were not effective due to the continuing material weakness in our internal control over financial reporting.

The material weakness and significant deficiency identified by our management as of September 30, 2022 relates to the ability of the Company to record transactions and provide disclosures in accordance with GAAP. We did not have sufficient and skilled accounting personnel with an appropriate level of experience in the application of GAAP commensurate with our financial reporting requirements. For example, our staff members do not hold licenses such as Certified Public Accountant or Certified Management Accountant in the United States, have not attended United States institutions for training as accountants, and have not attended extended educational programs that would provide sufficient relevant education relating to GAAP. Our staff will require substantial training to meet the demands of a U.S. public company and our staff’s understanding of the requirements of GAAP-based reporting is inadequate.

We plan to provide GAAP training sessions to our accounting team. The training sessions will be organized to help our corporate accounting team gain experience in GAAP reporting and to enhance their awareness of new and emerging pronouncements with potential impact over our financial reporting. We plan to continue to recruit experienced and professional accounting and financial personnel and participate in educational seminars, tutorials, and conferences and employ more qualified accounting staff in future.

Changes in Internal Controls over Financial Reporting.

There were no changes in our internal control over financial reporting identified in connection with the evaluation performed during the period covered by this report that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

Inherent Limitations over Internal Controls.

Our internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with GAAP. Our internal control over financial reporting includes those policies and procedures that:

(i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of our assets; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with GAAP, and that our receipts and expenditures are being made only in accordance with authorizations of our management and directors; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of our assets that could have a material effect on the financial statements.

Management, including our Chief Executive Officer and Chief Financial Officer, does not expect that our internal controls will prevent or detect all errors and all fraud. A control system, no matter how well designed and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of internal controls can provide absolute assurance that all control issues and instances of fraud, if any, have been detected. Also, any evaluation of the effectiveness of controls in future periods are subject to the risk that those internal controls may become inadequate because of changes in business conditions, or that the degree of compliance with the policies or procedures may deteriorate.

PART II. OTHER INFORMATION

ITEM 6. EXHIBITS

The exhibits required by this item are set forth in the Exhibit Index attached hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	KENONGWO GROUP US, INC.
Date: November 21, 2022	By:	/s/ Jianjun Zhong
		Name:	Jianjun Zhong
		Title:	President and Chief Executive Officer
			(principal executive officer)
Date: November 21, 2022	By:	/s/ Jianjun Zhong
		Name:	Jianjun Zhong
		Title:	Chief Financial Officer
			(principal financial officer and principal accounting officer)

EXHIBIT INDEX

No.		Description
31.1 -		Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2 -		Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1 -		Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS		Inline XBRL Instance Document-the instance document does not appear in the Interactive Data File because its XBRL tags are embeddec within the Inline XBRL document
101.SCH		Inline XBRL Taxonomy Extension Schema Document.
101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document.
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document.
104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

Kenongwo Group US, Inc. NONE 0.11 0.12 0.24 0.35 1882482 1882482 1882482 1882482 false --12-31 Q3 0001797762 0001797762 2022-01-01 2022-09-30 0001797762 2022-11-19 0001797762 2022-09-30 0001797762 2021-12-31 0001797762 2022-07-01 2022-09-30 0001797762 2021-07-01 2021-09-30 0001797762 2021-01-01 2021-09-30 0001797762 us-gaap:CommonStockMember 2020-12-31 0001797762 us-gaap:AdditionalPaidInCapitalMember 2020-12-31 0001797762 us-gaap:RetainedEarningsMember 2020-12-31 0001797762 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-12-31 0001797762 2020-12-31 0001797762 us-gaap:CommonStockMember 2021-01-01 2021-09-30 0001797762 us-gaap:AdditionalPaidInCapitalMember 2021-01-01 2021-09-30 0001797762 us-gaap:RetainedEarningsMember 2021-01-01 2021-09-30 0001797762 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-01-01 2021-09-30 0001797762 us-gaap:CommonStockMember 2021-09-30 0001797762 us-gaap:AdditionalPaidInCapitalMember 2021-09-30 0001797762 us-gaap:RetainedEarningsMember 2021-09-30 0001797762 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-09-30 0001797762 2021-09-30 0001797762 us-gaap:CommonStockMember 2021-12-31 0001797762 us-gaap:AdditionalPaidInCapitalMember 2021-12-31 0001797762 us-gaap:RetainedEarningsMember 2021-12-31 0001797762 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-12-31 0001797762 us-gaap:CommonStockMember 2022-01-01 2022-09-30 0001797762 us-gaap:AdditionalPaidInCapitalMember 2022-01-01 2022-09-30 0001797762 us-gaap:RetainedEarningsMember 2022-01-01 2022-09-30 0001797762 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-01-01 2022-09-30 0001797762 us-gaap:CommonStockMember 2022-09-30 0001797762 us-gaap:AdditionalPaidInCapitalMember 2022-09-30 0001797762 us-gaap:RetainedEarningsMember 2022-09-30 0001797762 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-09-30 0001797762 kngwd:MrErhpingPiMember 2018-10-17 0001797762 kngwd:MrJianjunZhongMember 2018-10-20 0001797762 us-gaap:PrivatePlacementMember 2019-09-06 0001797762 kngwd:JiangxiKenongwoMember 2020-02-26 2020-02-26 0001797762 kngwd:JiangxiKenongwoMember 2020-03-02 2020-03-02 0001797762 kngwd:JiangxiKenongwoMember 2020-03-04 2020-03-04 0001797762 kngwd:JiangxiKenongwoMember 2020-03-10 2020-03-10 0001797762 kngwd:JiangxiKenongwoMember 2022-01-01 2022-09-30 0001797762 kngwd:JiangxiKenongwoMember 2019-10-16 0001797762 kngwd:JiangxiKenongwoMember 2020-01-16 2020-01-16 0001797762 2021-10-05 2021-10-05 0001797762 kngwd:PRCMember 2022-01-01 2022-09-30 0001797762 us-gaap:BuildingMember 2022-01-01 2022-09-30 0001797762 srt:MinimumMember us-gaap:EquipmentMember 2022-01-01 2022-09-30 0001797762 srt:MaximumMember us-gaap:EquipmentMember 2022-01-01 2022-09-30 0001797762 srt:MinimumMember us-gaap:VehiclesMember 2022-01-01 2022-09-30 0001797762 srt:MaximumMember us-gaap:VehiclesMember 2022-01-01 2022-09-30 0001797762 srt:MinimumMember us-gaap:OfficeEquipmentMember 2022-01-01 2022-09-30 0001797762 srt:MaximumMember us-gaap:OfficeEquipmentMember 2022-01-01 2022-09-30 0001797762 us-gaap:UnpatentedTechnologyMember 2022-01-01 2022-09-30 0001797762 2021-01-01 2021-12-31 0001797762 2021-09-08 0001797762 2022-05-18 0001797762 us-gaap:ThirdPartyPayorMember 2021-09-08 0001797762 us-gaap:ThirdPartyPayorMember 2021-05-08 0001797762 us-gaap:BuildingMember 2022-09-30 0001797762 us-gaap:BuildingMember 2021-12-31 0001797762 us-gaap:EquipmentMember 2022-09-30 0001797762 us-gaap:EquipmentMember 2021-12-31 0001797762 us-gaap:VehiclesMember 2022-09-30 0001797762 us-gaap:VehiclesMember 2021-12-31 0001797762 us-gaap:OfficeEquipmentMember 2022-09-30 0001797762 us-gaap:OfficeEquipmentMember 2021-12-31 0001797762 2021-02-01 2021-02-05 0001797762 kngwd:MsYuhuaZhangMember 2022-09-30 0001797762 kngwd:MsYuhuaZhangMember 2021-12-31 0001797762 kngwd:MrJianjunZhongMember 2022-09-30 0001797762 kngwd:MrJianjunZhongMember 2021-12-31 0001797762 us-gaap:CustomerConcentrationRiskMember 2022-01-01 2022-09-30 0001797762 us-gaap:CustomerConcentrationRiskMember 2021-01-01 2021-09-30 0001797762 us-gaap:SupplierConcentrationRiskMember 2022-01-01 2022-09-30 0001797762 us-gaap:SupplierConcentrationRiskMember 2021-01-01 2021-09-30 0001797762 kngwd:CustomerAMember 2022-01-01 2022-09-30 0001797762 kngwd:CustomerAMember 2021-01-01 2021-09-30 0001797762 kngwd:SuppliersAMember 2022-01-01 2022-09-30 0001797762 kngwd:SuppliersAMember 2021-01-01 2021-09-30 0001797762 kngwd:SuppliersBMember 2022-01-01 2022-09-30 0001797762 kngwd:SuppliersBMember 2021-01-01 2021-09-30 0001797762 country:US 2022-09-30 0001797762 country:US 2022-01-01 2022-09-30 0001797762 country:US 2021-12-31 0001797762 country:US 2021-01-01 2021-12-31 0001797762 country:CN 2022-09-30 0001797762 country:CN 2022-01-01 2022-09-30 0001797762 country:CN 2021-12-31 0001797762 country:CN 2021-01-01 2021-12-31 0001797762 us-gaap:StateAndLocalJurisdictionMember 2022-01-01 2022-09-30 0001797762 us-gaap:StateAndLocalJurisdictionMember 2021-01-01 2021-09-30 xbrli:shares iso4217:USD iso4217:USD xbrli:shares iso4217:CNY xbrli:pure

Filing Compare · Kenongwo Group US, Inc.