UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2020

[ ] 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 000-55738

JS BEAUTY LAND NETWORK TECHNOLOGY INC.

(Exact name of registrant as specified in its charter)

Nevada		83-1365356
(State or other jurisdiction		I.R.S. Employer
of incorporation)		Identification Number

No. 99, Taihu Road, Yancheng, Jiangsu Province, China

(Address of principal executive offices)

778-888-2886

(Registrant’s telephone number, including area code)

Securities registered under Section 12(b) of the Exchange Act: None

Securities Registered Pursuant to Section 12(g) of the Act:

Title of Each Class		Trading Symbol		Name of Each Exchange on which registered
Common Stock, par value $0.001		None		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 [X] No [ ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, 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.

Large accelerated filer	[ ]	Accelerated filer	[ ]

Non-accelerated filer	[X]	Smaller reporting company	[X]

		Emerging growth company	[X]

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 [X]

Indicate the number of shares outstanding of each of the registrant’s classes of common stock as of the latest practicable date.

Class		Outstanding at August 17, 2020
Common Stock, par value $0.001		2,216,428

Documents incorporated by reference: None

CONDENSED FINANCIAL STATEMENTS

Condensed Balance Sheets as of June 30, 2020 (unaudited) and December 31, 2019 (audited)		3
Condensed Statements of Operations for the three and six months June 30, 2020 and 2019 (unaudited)		4
Condensed Statement of Stockholders’ Equity for the three and six months ended June 30, 2020 and 2019 (unaudited)		5
Condensed Statements of Cash Flows for the six months ended June 30, 2020 and 2019 (unaudited)		7
Notes to Condensed Financial Statements (unaudited)		8

JS BEAUTY LAND NETWORKING TECHNOLOGY INC. AND SUBSIDIARY

CONDENSED CONSOLIDATED BALANCE SHEET

(UNAUDITED)

	June 30, 2020			December 31, 2019

ASSETS

Current Assets
Cash and cash equivalents	$	287,560		$	121,198
Account Receivable		1,945			-
Prepaid expense		82,922			84,152
Inventory		65,834			89,029
Other receivable		18,270			22,657
Due from related party		3,672			3,727
Total Current Assets		460,203			320,763

Right-of-use asset		22,446			-
Intangible Assets, Net		272,235			277,004
Property And Equipment, Net		7,379			8,640

Total Assets	$	762,263		$	606,407

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current Liabilities
Accrued liabilities	$	35,714		$	36,168
Due to related party		98,428			99,867
Payroll payable		-			3,408
Tax payable		5,761			-
Other payable		125,370			130,745
Lease liability		22,446			-
Shares to be issued		108,000			83,000

Total Liabilities	$	395,719			353,188

Stockholders’ Equity

Common stock, $0.001 par value, 100,000,000 shares authorized;2,216,428 and 2,136,428 shares issued and outstanding at March 31, 2020 and December 31, 2019		2,216			2,136
Additional paid in capital		951,311			868,438
Accumulated deficit		(588,050	)		(623,311	)
Accumulated other comprehensive income		4,892			10,625

Total JS Beauty Land Network Technology Inc.’ Equity	$	370,369			257,888

Non-controlling interest		(3,825	)		(4,669	)

Total Stockholders’ Equity		366,544			253,219

Total Liabilities and Stockholders’ Equity	$	762,263		$	606,407

The accompanying notes are an integral part of these unaudited financial statements.

JS BEAUTY LAND NETWORKING TECHNOLOGY INC. AND SUBSIDIARY

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

(UNAUDITED)

	For the Three Months ended June 30,						For the Six Months ended June 30,
	2020			2019			2020			2019

Revenue	$	177,979		$	10,655		$	228,856		$	13,841
Cost of goods sold		68,398			3,026			90,570			4,029
Gross Profit		109,581			7,629			138,286			9,812

Operating expenses
General and administrative		54,367			56,656			99,403			116,678
Operating expenses		54,367			56,656			99,403			116,678

Operating income (loss)		55,214			(49,027	)		38,883			(106,866	)

Other income (expense)
Interest income		66			158			137			250
Interest expense		(1,472	)		(1,286	)		(2,966	)		(2,437	)
Other income (expense), net		(1,406	)		(1,128	)		(2,829	)		(2,187	)

Net income (loss)	$	53,808		$	(50,155	)	$	36,054		$	(109,053	)

Less: net income (loss) attributable to non-controlling interest		791			(190	)		793			(478	)
Net income (loss) attributable to JS Beauty Land Network Technology Inc.		53,017			(49,965	)		35,261			(108,575	)

Other comprehensive income (loss)
Foreign currency translation (loss) gain		2,689			14,120			(5,682	)		15,719

Less: foreign currency translation gain attributable to non-controlling interest		27			142			51			196
Total Comprehensive Loss Attributable to JS Beauty Land Network Technology Inc.	$	55,679		$	(35,987	)	$	29,528		$	(93,052	)

Loss per share - basic and diluted	$	0.02		$	(0.03	)	$	0.02		$	(0.07	)

Weighted average shares- basic and diluted		2,216,428			1,640,439			2,204,560			1,506,677

The accompanying notes are an integral part of these unaudited financial statements.

JS BEAUTY LAND NETWORKING TECHNOLOGY INC. AND SUBSIDIARY

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY

FOR THE QUARTER ENDED JUNE 30, 2020 AND 2019

(UNAUDITED)

										Accumulated
					Additional					Other					Total
	Common Stock				Paid-in		Accumulated			Comprehensive		Noncontrolling			Stockholders’
	Shares		Amount		Capital		Deficit			Income		Interest			Equity
Balance as of March 31, 2020		2,216,428	$	2,216	$	949,831	$	(641,067	)	$	2,230	$	(4,643	)	$	308,567

Imputed interest expense		-		-		1,480		-			-		-			1,480
Net loss		-		-		-		53,017			-		791			53,808
Accumulated other comprehensive income		-		-		-		-			2,662		27			2,689

Balance as of June 30, 2020		2,216,428	$	2,216	$	951,311	$	(588,050	)	$	4,892	$	(3,825	)	$	366,544

										Accumulated
					Additional					Other					Total
	Common Stock				Paid-in		Accumulated			Comprehensive		Noncontrolling			Stockholders’
	Shares		Amount		Capital		Deficit			Income		Interest			Equity

Balance as of March 31, 2019		1,371,428	$	1,371	$	124,177	$	(186,226	)	$	5,340	$	(669	)	$	(56,007	)

Imputed interest expense		-		-		1,251		-			-		-			1,251
Share issuance for cash		765,000		765		764,235		-			-		-			765,000
Net loss		-		-		-		(49,965	)		-		(190	)		(50,155	)
Accumulated other comprehensive income		-		-		-		-			13,978		142			14,120

Balance as of June 30, 2019		2,136,428	$	2,136	$	889,663.00	$	(236,191	)	$	19,318	$	(717	)	$	674,209

The accompanying notes are an integral part of these unaudited financial statements.

JS BEAUTY LAND NETWORKING TECHNOLOGY INC. AND SUBSIDIARY

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY

FOR THE TWO QUARTERS ENDED JUNE 30, 2020 AND 2019

(UNAUDITED)

										Accumulated
					Additional					Other						Total
	Common Stock				Paid-in		Accumulated			Comprehensive			Noncontrolling			Stockholders’
	Shares		Amount		Capital		Deficit			Income			Interest			Equity

Balance as of December 31, 2019		2,136,428		2,136		868,438		(623,311	)		10,625			(4,669	)	$	253,219

Imputed interest expense		-		-		2,953		-			-			-			2,953
Share issuance for cash		80,000		80		79,920		-			-			-			80,000
Shares to be issued		-				-		-			-			-			-
Net loss		-		-		-		35,261			-			793			36,054
Accumulated other comprehensive income		-		-		-		-			(5,733	)		51			(5,682	)

Balance as of June 30, 2020		2,216,428	$	2,216	$	951,311	$	(588,050	)	$	4,892		$	(3,825	)	$	366,544

										Accumulated
					Additional					Other					Total
	Common Stock				Paid-in		Accumulated			Comprehensive		Noncontrolling			Stockholders’
	Shares		Amount		Capital		Deficit			Income		Interest			Equity

Balance as of December 31, 2018		1,371,428	$	1,371	$	123,020	$	(127,616	)	$	3,795	$	(435	)	$	135

Imputed interest expense		-		-		2,408		-			-		-			2,408
Share issuance for cash		765,000		765		764,235		-			-		-			765,000
Shares to be issued		-				-		-			-		-			-
Net loss		-		-		-		(108,575	)		-		(478	)		(109,053	)
Accumulated other comprehensive income		-		-		-		-			15,523		196			15,719

Balance as of June 30, 2019		2,136,428	$	2,136	$	889,663.00	$	(236,191	)	$	19,318	$	(717	)	$	674,209

The accompanying notes are an integral part of these unaudited financial statements.

JS BEAUTY LAND NETWORKING TECHNOLOGY INC. AND SUBSIDIARY

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(UNAUDITED)

	For the Six Months ended June 30,
	2020			2019

CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$	36,054		$	(109,053	)
Non-cash adjustment to reconcile net loss to net cash:
Depreciation and amortization		1,862			1,182
Imputed interest expense		2,953			2,437
Changes in Operating Assets and Liabilities:
Account receivable		(1,954	)		(200	)
Prepaid expense		-			661
Other receivable		4,075			-
Inventory		21,996			(54,275	)
Prepaid expense-long term		-			(716,139	)
Accrued liabilities		(304	)		39,388
Payroll payable		(3,374	)		-
Tax payable		5,788			597
Other payable		(5,375	)		40,743

NET CASH USED IN OPERATING ACTIVITIES		61,721			(794,659	)

CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of intangible assets		(221	)		-

NET CASH USED IN INVESTING ACTIVITIES		(221	)		-

CASH FLOWS FROM FINANCING ACTIVITIES
Due to a related party		-			16,887
Proceeds from shares to be issued		105,000			-
Proceeds from issuance of shares		-			765,000

NET CASH PROVIDED BY FINANCING ACTIVITIES		105,000			781,887

NET INCREASE IN CASH AND CASH EQUIVALENTS		166,500			(12,772	)

EFFECT OF EXCHANGE RATE ON CASH AND CASH EQUIVALENTS		(138	)		24,447

CASH AND CASH EQUIVALENTS:

Cash Balance, Beginning of Period		121,198			130,747

Cash Balance, End of Period	$	287,560		$	142,422

SUPPLEMENTAL DISCLOSURES:
Cash paid for income tax	$	-		$	-
Cash paid for interest	$	-		$	-

The accompanying notes are an integral part of these unaudited financial statements.

JS BEAUTY LAND NETWORK TECHNOLOGY INC. AND SUBSIDIARY

NOTES TO UNAUDITED FINANCIAL STATEMENTS

NOTE 1 - NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NATURE OF OPERATIONS

JS Beauty Land Network Technology Inc. (the “Company” or “JS” or “We’ or “Us”) is a Nevada corporation incorporated on May 8, 2018. The Company was formed as a US corporation to use as a vehicle for raising equity both in the United States and abroad.

On August 6, 2018, the Company and an unrelated party established a subsidiary company, Jiangsu Meiyunmei Technology Inc. (“MYM”), in China. The Company owns 99% of the common shares of MYM. MYM’s business plan is to operate jewelry manufacturing facilities and retailers in China, particularly dealing in fine emerald and jade jewelry. MYM intends to offer jewelry both in a retail setting and through online channels. MYM intends to target high-end jewelry consumers and investors and collectors of fine jade jewelry. In the longer term, MYM intends to operate a franchising business for retail sales of fine jewelry. MYM started jewelry retail sales in November 2018.

The outbreak of COVID19 coronavirus in China starting from the beginning of 2020 has resulted reduction of working hours for the Company. The Company followed the restrictive measures implemented in China, by suspending operation and having employees’ work remotely during February and March 2020. The Company gradually resumed operation and production starting in April 2020. The demand for our products decreased in February and March 2020. The recent developments of COVID 19 are expected to result in lower sales and gross margin in 2020. Other financial impact could occur though such potential impact is unknown at this time.

BASIS OF PRESENTATION

The Company’s unaudited condensed consolidated financial statements are prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and in accordance with generally accepted accounting principles in the United States of America (“US GAAP”). The unaudited condensed consolidated financial statements include the financial statements of JS and its subsidiary MYM. All significant intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of the unaudited condensed consolidated financial statements have been included.

The summary of significant accounting policies presented below is designed to assist in understanding the Company’s unaudited condensed financial statements. Such unaudited financial statements and accompanying notes are the representations of the Company’s management, who are responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”) in all material respects and have been consistently applied in preparing the accompanying unaudited financial statements.

Certain information and footnote disclosures normally present in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) were omitted pursuant to such rules and regulations. The results for the period ended June 30, 2020 are not necessarily indicative of the results to be expected for the year ending December 31, 2020.

Non-controlling interests

Non-controlling interests represents the individual shareholder’s proportionate share of 1% of equity interest in Jiangsu Meiyunmei Technology Inc.

USE OF ESTIMATES

The preparation of unaudited financial statements in conformity with GAAP 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. Actual results could differ from those estimates.

RECLASSIFICATION

A reclassification has been made to the Consolidated Statements of Cash Flows for six months ended June 30, 2019, to reclassify due to related parties of $16,887 from cash flows from operating activities to cash flows from financing activities. This change in classification is reflected to conform to the current period presentation. This reclassification had no impact on net earnings and financial position.

CONCENTRATION OF RISK

The Company incurs expense transactions that are denominated in RMB. A portion of the Company’s subsidiary’s assets and liabilities are denominated in RMB. RMB is not freely convertible into foreign currencies. In the PRC, certain foreign exchange transactions are required by law to be transacted only by authorized financial institutions at exchange rates set by the People’s Bank of China (“PBOC”). Remittances in currencies other than RMB by the Company in China must be processed through the PBOC or other China foreign exchange regulatory bodies that require certain supporting documentation in order to affect the remittance.

As of June 30, 2020 and December 31, 2019, $276,513 and $110,151 of the Company’s cash were on deposit at financial institutions in the PRC where there currently is a rule or regulation requiring such financial institutions to maintain insurance to cover bank deposits in the event of bank failure. The Company’s bank account in the PRC is protected by deposit insurance up to RMB500,000.

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and other receivable. Cash in bank amounted to $287,560 and $121,198 as of June 30, 2020 and December 31, 2019, respectively. Other receivable amounted to $18,270 and $22,657 as of June 30, 2020 and December 31, 2019, respectively.

LOSS PER COMMON SHARE

Basic loss per common share excludes dilution and is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted loss per common share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the loss of the entity. As of December 31, 2019, there are no outstanding dilutive securities. For the six months ended June 30, 2020 and 2019, the Company had net income (loss) per common share, basic and diluted of $0.02 and $(0.07), respectively.

RECENT ACCOUNTING PRONOUNCEMENTS

Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force) and the United States Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company’s present or future financial statements.

NOTE 2 - GOING CONCERN

The Company has generated minimum revenue since inception to date and had net income of $36,054 during the six months ended June 30, 2020. The Company had a working capital of $64,484 and a negative accumulated deficit of $588,050 as of June 30, 2020 and a working capital deficit of $32,425 and a negative accumulated deficit of $623,311 as of December 31, 2019. The Company’s continuation as a going concern is dependent on its ability to generate sufficient cash flows from operations to meet its obligations and/or obtaining additional financing from its shareholders or other sources, as may be required.

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern; however, the above condition raises substantial doubt about the Company’s ability to do so. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern.

In order to maintain its current level of operations, the Company will require additional working capital from either cash flow from operations or from the sale of its equity. However, the Company currently has no commitments from any third parties for the purchase of its equity. If the Company is unable to acquire additional working capital, it will be required to significantly reduce its current level of operations.

NOTE 3 – INVENTORY

As of June 30, 2020 and December 31, 2019, the Company had inventory of finished goods $65,834 and $89,029, respectively. There were reserves of $0 and $0 for the six months ended June 30, 2020 and 2019, respectively.

NOTE 4 – INTANGIBLE ASSETS

As of June 30, 2020 and December 31, 2019, the Company had intangible assets of $272,235 and $277,004, respectively. Intangible assets consisted of the following:

	Software		Trademark		Total
Cost	$	251,943	$	21,231	$	273,174
Accumulated Amortization				939		939
Net	$	251,943	$	20,292	$	272,235

For the three months ended June 30, 2020, amortization expenses amounted to $476. For the six months ended June 30, 2020, amortization expenses amounted to $722.

The Company reviews the carrying value of intangible assets for impairment whenever events and circumstances indicate that the carrying value of an asset may not be recoverable from the estimated future cash flows expected to result from its use and eventual disposition. In cases where undiscounted expected future cash flows are less than the carrying value, an impairment loss is recognized equal to an amount by which the carrying value exceeds the fair value of assets. The factors considered by management in performing this assessment include current operating results, trends and prospects, the manner in which the property is used, and the effects of obsolescence, demand, competition and other economic factors. Based on this assessment, no impairment of intangible assets was deemed necessary for the six months ended June 30, 2020 and 2019, respectively.

NOTE 5 - RELATED PARTIES

Due from a related party amounted to $3,627 and $3,727 as of June 30, 2020 and December 31, 2019, respectively. The amount due from a related party, chairman of MYM, Yang Yang. The full amount of the advance is expected to be repaid before December 31, 2020.

Due to related parties amounted to $98,428 and $99,867 as of June 30, 2020 and December 31, 2019, respectively. The amount due to two related parties, director of the Company, Faxian Qiang, and director of MYM, Zhaojin Xu, are loans made by related parties, which are unsecured, non-interest bearing, and due on demand. The Company accrued imputed interest with 6% per annum. Imputed interest amounted $2,953 and $2,408 for the six months ended June 30, 2020 and 2019 and was recorded as paid in capital.

Our directors have not been compensated for the services.

NOTE 6 – OTHER PAYABLE

Other payable amounted to $125,370 and $130,745 as of June 30, 2020 and December 31, 2019, respectively. Other payable are payments for general and administrative expenses made by an unrelated party on behalf of the Company. The balance of other payable is unsecured, non-interest bearing, and due on demand. Other payable is primarily payments for incorporation fees, audit fees, and professional fees.

NOTE 7 – SHARES TO BE ISSUED

Shares to be issued amounted to $108,000 and $83,000 as of June 30, 2020 and December 31, 2019, respectively.

In October 2019, the Company sold 66,000 shares of common stock at $1.0 per share for total of $66,000 to 24 unrelated parties. 63,000 shares of these 66,000 shares were issued in January 2020. In June 2020, investment of $3,000 was returned to 1 unrelated party

In November 2019, the Company sold 17,000 shares of common stock at $1.0 per share for total of $17,000 to 10 unrelated parties. These shares were issued in January 2020.

In January 2020, the Company sold 4,000 shares of common stock at $1.0 per share for total of $4,000 to 2 unrelated parties.

In June 2020, the Company sold 104,000 shares of common stock at $1.0 per share for total of $104,000 to 50 unrelated parties.

NOTE 8 - STOCKHOLDERS’ EQUITY

The Company is authorized to issue 100,000,000 shares of common stock and 10,000,000 shares of preferred stock. There is no preferred stock issued and outstanding as of June 30, 2020 and December 31, 2019. There are 2,216,428 and 2,136,428 shares of common stock issued and outstanding as of June 30, 2020 and December 31, 2019, respectively.

In January 2020, the Company sold 80,000 shares of common stock at $1.00 per share for total of $80,000 to unrelated parties.

NOTE 9 – SUBSEQUENT EVENTS

In accordance with ASC 855-10, the Company has analyzed its operations subsequent to June 30, 2020 to the date these financial statements were issued and has determined that it does not have any material subsequent events to disclose in these financial statements.

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

Forward Looking Statements

This management’s discussion and analysis should be read in conjunction with the financial statements and notes included elsewhere in this registration statement.

This management’s discussion and analysis, as well as other sections of this registration statement, may contain “forward-looking statements” that involve risks and uncertainties, including statements regarding our plans, future events, objectives, expectations, estimates, forecasts, assumptions or projections. Any statement that is not a statement of historical fact is a forward-looking statement, and in some cases, words such as “believe,” “estimate,” “project,” “expect,” “intend,” “may,” “anticipate,” “plan,” “seek,” and similar expressions identify forward-looking statements. These statements involve risks and uncertainties that could cause actual outcomes and results to differ materially from the anticipated outcomes or results, and undue reliance should not be placed on these statements. These risks and uncertainties include, but are not limited to, the matters discussed under the caption “Risk Factors” in Item 1A of this registration statement. JS Beauty Land Network Technology Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

For the period ended June 30, 2020, the financial statements have been prepared by management in accordance with the standards of the Public Company Accounting Oversight Board (United States).

Overview

JS Beauty Land Network Technology Inc. was organized on May 8, 2018 as a Nevada corporation under Chapter 78 of the Nevada Revised Statutes. The Company has one subsidiary, Jiangsu Meiyunmei Technology Inc. (“MYM”) , a Chinese company. The Company owns 99% of the common shares of MYM.

The Company qualifies as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act which became law in April 2012. The definition of an “emerging growth company” is a company with an initial public offering of common equity securities which occurred after December 8, 2011 and has less than $1 billion of total annual gross revenues during last completed fiscal year.

Overview of the Business

The Company commenced jewelry sales on November 2018 and started to generate revenue at that time. The Company was formed as a US corporation to use as a vehicle for raising equity both in the United States and abroad.

JS Beauty Land Network Technology, Inc. (also referred to as “the Company”) is a Chinese retailer and wholesaler of jade stone-adorned jewelry and decorations. The Company intends to directly engage in the manufacture, marketing and sales of fine jewelry and art from China through its newly formed Chinese subsidiary, Jiangsu Meiyunmei Technology Inc. (“MYM”). The Company commenced retail sales operations in November 2018. We are unaware of any specific restrictions imposed by the Government of China with respect to the conduct of the business of the Company or its Chinese subsidiary. The Company intends to utilize a business model that would focus on repeat clientele and collectors. In addition to its core business, the Company intends to offer memberships to its customers estimated to cost approximately $1,500, which will offer exclusive purchase opportunities. The Company’s activities will range from procuring high-quality stones, to building cooperative partnerships with its customers. The Company’s Chinese headquarters are in Xuanwu, Nanjing, Jiangsu, China.

Market Opportunity

Jade remains a unique, sentimental, high-end gemstone in China. While the Chinese market is keen on translucency and color, the western market is keen on artistry, carving details, and especially originality. The total export value of mineral products from China, including jade, is approximately $865,000,000 per annum. The foregoing statistics are based solely on management’s opinion or belief.

Marketing and Distribution

Marketing will be done through a variety of channels, including the Internet, networking, trade shows, social media, and influencer marketing. In addition, print advertising will target carefully chosen audiences. The distribution channels will be retail branch locations and online through the We Chat platform.

Target Market

JS Beauty Land Network Technology, Inc. anticipates that the primary customers of its products and services will be:

	●	Men between 30 and 44 Years - Management believes that this market has a high interest in the purchase of high-end jade jewelry.

	●	Luxury Market - Luxury jewelry sales.

	●	Junior Buyers – According to Chinese traditions, people give longevity locks, bracelets, and necklaces to children as goodwill tokens and as a way of wishing them a healthy and happy life.

	●	Wedding Market - It is estimated that more than 50% of sales are related to weddings.

	●	Festival Market - Jewelry sales influenced by festivals and anniversaries. Most people buy jewelry as a gift to celebrate birthdays and festivals, especially the Lunar New Year and Qixi Festival (the Chinese equivalent of Valentine’s Day).

Potential Acquisitions

As an adjunct to its business strategy, the Company will also seek to identify potential acquisitions which are involved in the operation of jewelry manufacturing facilities and jewelry retailers in China, particularly those dealing in fine emerald and jade jewelry.

Capital Formation

JS Beauty Land Network Technology Inc., shareholder’s equity capital formation.

The company was formed on May 8, 2018, with no capital. Thereafter, the Company issued 1,000,000 shares of founder’s capital to Faxian Qiang at $0.001 per share for an aggregate of $1,000. In August and September 2018, the Company sold an additional 371,428 at investors in China for prices ranging from $0.25 per share to $0.50 per share for aggregate proceeds of $118,957.

The Company filed a Registration Statement in 2019 to register 1,000,000 IPO shares together with 456,425 selling shareholder shares. At December 31, 2019, 765,000 of the IPO shares had been sold with gross proceeds of $765,000. The IPO offering has now been terminated as to the remaining 235,000 shares in the registration statement.

During fiscal year 2020, the Company may require additional funding for ongoing operations. There is no guarantee that we will be able to raise any additional capital and have no current arrangements for any such financing.

Results of Operations

Three Months Ended June 30, 2020 Compared to June 30, 2019

The following table summarizes the results of our operations during the three months ended June 30, 2020 and 2019, respectively, and provides information regarding the dollar and percentage increase or (decrease) from the current three-month period to the prior three-month period:

Line Item	6/30/2020		6/30/2019			Increase (Decrease)			Percentage Increase (Decrease)

Revenues	$	177,979	$	10,655		$	167,324			1,570.4	%
Operating expenses		54,367		56,656			(2,289	)		(4.0	)%
Net profit (loss)		53,808		(50,155	)		103,963			207.3	%
Profit (Loss) per share of common stock		0.02		(0.03	)		0.05			166.7	%

We recorded a net profit of $53,808 for the three months ended June 30, 2020 as compared with a net loss of $50,155 for the three months ended June 30, 2019 due primarily to an increase in revenues and a decrease in general and administrative expense.

Six Months Ended June 30, 2020 Compared to June 30, 2019

The following table summarizes the results of our operations during the six months ended June 30, 2020 and 2019, respectively, and provides information regarding the dollar and percentage increase or (decrease) from the current six-month period to the prior six-month period:

Line Item	6/30/2020		6/30/2019			Increase (Decrease)			Percentage Increase (Decrease)

Revenues	$	228,856	$	13,841		$	215,015			1553.5	%
Operating expenses		99,403		116,678			(17,275	)		(14.8	)%
Net Profit (Loss)		36,054		(109,053	)		145,107	)		133.7	%
Profit (Loss) per share of common stock		0.02		(0.07	)		0.09			128.6	%

We recorded a net profit of $36,054 for the six months ended June 30, 2020 as compared with a net loss of $109,053 for the six months ended June 30, 2019 due primarily to an increase in revenues and a decrease in general and administrative expense.

Liquidity and Capital Resources

As of June 30, 2020, we had total assets of $762,263, working capital of $64,484 and an accumulated stockholders’ equity of $366,544. Our operating activities used $61,721 in cash for the six-month period ending June 30, 2020. Our revenues were $228,856 in the six-month period ending June 30, 2020 compared to $13,841 in the comparable period of 2019.

Management believes that the Company’s cash on hand will be sufficient to fund all Company obligations and commitments for the next twelve months. Historically, we have depended on loans from our principal shareholders and their affiliated companies to provide us with working capital as required. There is no guarantee that such funding will be available when required and there can be no assurance that our stockholders, or any of them, will continue making loans or advances to us in the future.

At June 30, 2020, the Company had loans outstanding from two related parties in the aggregate amount of $98,428, which represents amounts loaned to the Company to pay the Company’s expenses of operation. All such advances are non-interest bearing and payable on demand. The Company accrued imputed interest with 6% interest rate per annum. Imputed interest amounted $2,953 during the six months ended June 30, 2020.

Coronavirus Pandemic

Off Balance Sheet Arrangements

We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity or capital expenditures or capital resources that is material to an investor in our securities.

Contractual Obligations and Commitments

None.

Seasonality

Our operating results are not affected by seasonality.

Inflation

Our business and operating results are not affected in any material way by inflation.

Critical Accounting Policies

Use of estimates

The preparation of our financial statements requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Estimates and judgments used are based on management’s experience and the assumptions used are believed to be reasonable given the circumstances that exist at the time the financial statements are prepared. Actual results may differ from these estimates.

Emerging Growth Company

The Company has made an election to be an emerging growth company as defined under the Jumpstart Our Business Startups Act of 2012 (“Jobs Act”). Included with this election, the Company has also irrevocably elected to use the provisions within the Jobs Act that allow companies that go public to continue to use the private company adoption date rules for new accounting policies. In this regard, the Company has made an irrevocable election to use the extended transition period provided in Securities Act Section 7(a)(2)(B) for complying with new or revised accounting standards. Should the Company obtain revenues in excess of $1 billion on an annual basis, have its non-affiliated market capitalization increase to over $700 million as of the last day of its second quarter, or raise in excess of $1 billion in public offerings of its equity or instruments directly convertible into its equity, it will forfeit its status under the Jobs Act as an emerging growth company.

Other

The Securities and Exchange Commission issued Financial Reporting Release No. 60, “Cautionary Advice Regarding Disclosure About Critical Accounting Policies” suggesting that companies provide additional disclosure and commentary on their most critical accounting policies. In Financial Reporting Release No. 60, the Securities and Exchange Commission has defined the most critical accounting policies as the ones that are most important to the portrayal of a company’s financial condition and operating results, and require management to make its most difficult and subjective judgments, often as a result of the need to make estimates of matters that are inherently uncertain. The nature of our business generally does not call for the preparation or use of estimates. Due to the fact that the Company does not have any operating business, we do not believe that we do not have any such critical accounting policies.

ITEM 3. Quantitative and Qualitative Disclosures About Market Risk.

Information not required to be filed by Smaller reporting companies.

ITEM 4. Controls and Procedures.

Disclosures and Procedures

Pursuant to Rules adopted by the Securities and Exchange Commission, the Company carried out an evaluation of the effectiveness of the design and operation of its disclosure controls and procedures pursuant to Exchange Act Rules. This evaluation was done as of the end of the period covered by this report under the supervision and with the participation of the Company’s principal executive officer (who is also the principal financial officer).

Based upon that evaluation, he believes that the Company’s disclosure controls and procedures are not effective in gathering, analyzing and disclosing information needed to ensure that the information required to be disclosed by the Company in its periodic reports is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Act is accumulated and communicated to the issuer’s management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure. Such conclusion is due to the presence of material weakness in internal control over financial reporting as described below: we did not maintain effective internal control over financial reporting as we are a very small company and does not have separation of duties and our accounting staff lack sufficient U.S. GAAP experience and requires further substantial training.

Changes in Internal Controls

There was no change in the Company’s internal control over financial reporting that was identified in connection with such evaluation that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

PART II — OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

There are no legal proceedings against the Company and the Company is unaware of such proceedings contemplated against it.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

During the quarter ended June 30, 2020, the Company issued no shares of Company common stock.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

Not applicable.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

Not applicable.

ITEM 5. OTHER INFORMATION

(a) Not applicable.

(b) Item 407(c)(3) of Regulation S-K:

During the quarter covered by this Report, there have not been any material changes to the procedures by which security holders may recommend nominees to the Board of Directors.

ITEM 6. EXHIBITS

(a) Exhibits

31.1		Certification of Principal Executive Officer filed pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2		Certification of Principal Financial Officer filed pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32.1		Certification of Principal Executive Officer and Principal Financial Officer furnished pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

101.INS		XBRL Instance Document
101.SCH		XBRL Taxonomy Extension Schema Document
101.CAL		XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF		XBRL Taxonomy Extension definition Linkbase Document
101.LAB		XBRL Taxonomy Extension Label Linkbase Document
101.PRE		XBRL Taxonomy Extension Presentation Linkbase Document

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.

	JS BEAUTY LAND NETWORK TECHNOLOGY INC.

	By:	/s/ Faxian Qian
	Title:	Chief Executive Officer, President, Chief Financial Officer

Dated: August 17, 2020

JS BEAUTY LAND NETWORK TECHNOLOGY INC 10-Q