UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

(Mark One)

☒ ~~ANNUAL~~ ANNUAL REPORT ~~UNDER~~PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended: July 31, ~~2023~~2024

orOR

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

For the transition period from ~~________~~__________ to ~~________~~__________

Commission File No. 333-213698

BRILLIANT N.E.V. CORP.

(Exact name of registrant as specified in its charter)

Nevada		30-0944559
Nevada (State or other jurisdiction of incorporation or organization)	30-0944559 (I.R.S. Employer Identification No.)
(State or other jurisdiction of		(I.R.S. employer
Room 805, West Building 4, Xintiandi Business Center, Gongshu District, Hangzhou City, Zhejiang Province, China 95035 (Address of principal executive offices)
incorporation or formation)		Identification No.)
Registrant’s telephone number, including area code: +86-189-1098-4577

~~Room~~Securities ~~805,~~registered ~~West~~pursuant ~~Building~~to 4,Section ~~Xintiandi~~12(b) ~~Business~~of ~~Center,~~the Act: None

~~Gongshu~~Securities ~~District,~~registered ~~Hangzhou~~pursuant ~~City,~~to ~~Zhejiang~~Section ~~Province,~~12(g) ~~China~~of ~~310000~~the Act: None

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: +86-189-1098-4577

Securities registered pursuant to Section 12(b) of the Act:

None

Securities registered pursuant to Section 12(g) of the Act:

None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act 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~~ ☐ No ☒

Indicate by check mark whether the registrant has submitted electronically 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~~ ☒ No ☐

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K ~~(§229.405 of this chapter)~~ is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. Yes ~~☐ No~~ ☒ 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~~Large ~~the definitions of “large~~ accelerated filer~~,” “accelerated~~ ☐ Accelerated filer,” ~~“non~~☐ Non-accelerated filer~~,” “smaller~~ ☒ Smaller reporting company” ~~and~~☒ Emerging ~~“emerging~~ growth company~~” in~~ ~~Rule 12b-2 of the Exchange Act.~~☐

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. ☐

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to Rule 10D-1(b). ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☒ No ☐

~~State the~~Because ~~aggregate~~there ~~market~~was ~~value~~no ofactive ~~the~~quotation ~~voting~~market ~~and~~for ~~non-voting common equity held by non-affiliates computed by reference to~~ the ~~price at which~~Company’s ~~the~~ common ~~equity~~stock ~~was~~as ~~last sold, or the average bid and asked price~~ of ~~such~~April ~~common~~28, ~~equity~~2026, asno ofmarket ~~the~~value ~~last~~is ~~business~~ascribed ~~day~~to of the ~~registrant’s most recently completed second fiscal quarter. [Note: the Company’s~~ shares ~~trade~~held ~~sporadically~~by ~~and infrequently, thus no value to such shares is ascribed]~~non-affiliates.

As of ~~November~~April 1428, ~~2023~~2026, there were 153,105,464 shares of Common Stock, $0.001 par value per share, outstanding.

~~DOCUMENTS INCORPORATED~~TABLE BYOF ~~REFERENCE:~~ CONTENTS

~~None~~PART I 3 Item 1. Business 3 Item 1A. Risk Factors 4 Item 1B. Unresolved Staff Comments 5 Item 1C. Cybersecurity 5 Item 2. Properties 5 Item 3. Legal Proceedings 5 Item 4. Mine Safety Disclosures 5 PART II 6 Item 5. Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities 6 Item 6. [Reserved] 6 Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations 6 Item 7A. Quantitative and Qualitative Disclosures About Market Risk 7 Item 8. Financial Statements and Supplementary Data 7 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 8 Item 9A. Controls and Procedures 8 Item 9B. Other Information 8 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 8 PART III 9 Item 10. Directors, Executive Officers and Corporate Governance 9 Item 11. Executive Compensation 9 Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters 10 Item 13. Certain Relationships and Related Transactions, and Director Independence 11 Item 14. Principal Accountant Fees and Services 11 PART IV 12 Item 15. Exhibits, Financial Statement Schedules 12 SIGNATURES 13

Table of Contents

			PAGE
PART I
	Item 1.	Business	1
	Item 1A.	Risk Factors	7
	Item 1B.	Unresolved Staff Comments	13
	Item 2.	Properties	13
	Item 3.	Legal Proceedings	13
	Item 4.	Mine Safety Disclosures	13
PART II
	Item 5.	Market for Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	14
	Item 6	Selected Financial Data	14
	Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	14
	Item 7A.	Quantitative and Qualitative Disclosures About Market Risk	19
	Item 8.	Financial Statements	F-1
	Item 9.	Changes in and Disagreements with Accountants on Accounting and Financial Disclosure	20
	Item 9A.	Controls and Procedures	20
	Item 9B.	Other Information	21
PART III
	Item 10.	Directors, Executive Officers and Corporate Governance	22
	Item 11.	Executive Compensation	23
	Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	23
	Item 13.	Certain Relationships and Related Transactions, and Director Independence	24
	Item 14.	Principal Accountant Fees and Services	25
	Item 15.	Exhibits, Financial Statement Schedules	26
SIGNATURES			27

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PART I

FORWARD-LOOKING STATEMENTS

~~Certain statements~~This ~~made in this~~ Annual Report on Form 10-K ~~are~~contains “forward-looking statements~~” (~~ within the meaning of the Private Securities Litigation Reform Act of 1995). ~~regarding~~Forward-looking ~~the~~statements ~~plans~~generally ~~and~~relate ~~objectives~~to offuture ~~management~~events or ~~for~~the Company’s future ~~operations.~~financial ~~Such~~or ~~statements~~operating ~~involve~~performance ~~known~~ and ~~unknown~~may be ~~risks,~~identified ~~uncertainties~~by ~~and~~words ~~other~~such ~~factors~~as ~~that~~ “may,” ~~cause~~“will,” “expects,” ~~actual~~“plans,” ~~results~~“anticipates,” ~~performance~~“believes,” or“estimates,” ~~achievements of the Registrant to be~~“intends,” ~~materially~~“could,” ~~different~~“should,” ~~from~~“continue,” ~~any future results~~“potential,” ~~performance~~ or ~~achievements~~similar ~~expressed or implied by such forward-looking statements~~expressions. ~~The forward-looking~~These statements ~~included herein~~ are based on management’s current expectations ~~that involve numerous risks~~ and ~~uncertainties.~~assumptions ~~The Registrant’s plans~~ and ~~objectives~~ are ~~based, in part, on assumptions involving the continued expansion of business. Assumptions relating to the foregoing~~ ~~involve~~subject ~~judgments with respect~~ to, ~~among~~risks ~~other things, future economic, competitive~~ and ~~market conditions and future business decisions~~uncertainties, ~~all~~ ~~of which are difficult or impossible to predict accurately and~~ many of which are ~~beyond~~outside the Company’s control. ofActual ~~the~~results ~~Registrant.~~may ~~Although~~differ ~~the Registrant~~materially ~~believes~~from ~~its~~those ~~assumptions~~described ~~underlying~~in ~~the~~these forward-looking statements. ~~are~~The ~~reasonable,~~Company ~~any~~undertakes ~~of the assumptions could prove inaccurate and, therefore, there can be~~ no ~~assurance the forward-looking statements included in this Report will prove~~ obligation to beupdate ~~accurate.~~any ~~In light of the significant uncertainties inherent in the~~ forward-looking statements ~~included~~except ~~herein, the inclusion of such information should not be regarded~~ as arequired ~~representation~~ by ~~the Registrant or any other person that the objectives and plans of the Registrant will be achieved~~law.

Unless stated otherwise, the words “we,” “us,” “our,” “the Company” or “Clancy Corp” in this Annual Report collectively refers to Brilliant N.E.V. Corp. (formerly Clancy Corp.)

Item 1. Business.

~~Special Note Regarding Chinese Companies.~~Overview

~~Our principal~~Brilliant ~~executive~~N.E.V. ~~offices~~Corp. ~~are~~(formerly ~~located~~Clancy inCorp.) ~~China and a~~(the ~~majority~~“Company”) was ofincorporated ~~our executive officers and/or directors are located~~ in ~~or have~~Nevada ~~significant~~on ~~ties~~March to22, ~~China~~2016. ToAs ~~date,~~of ~~our~~July ~~operations~~31, in2024, the ~~PRC~~Company ~~have~~had ~~been~~not ~~limited.~~commenced ~~Brilliant~~any ~~N.E.V.~~new ~~Corp.~~operating ~~(formerly~~business ~~Clancy~~after ~~Corp.)~~the aJune ~~Nevada~~2023 ~~company,~~change ~~registered~~in ~~Shanghai~~control ~~Clancy~~and ~~Enterprise~~remained ~~Management~~a ~~Co.,~~shell ~~Ltd.~~company aswith ano ~~wholly~~or ~~foreign-owned~~only ~~entity~~nominal inoperations ~~Shanghai,~~and ~~China~~nominal onassets ~~April 13,~~other ~~2020~~than ~~(Shanghai Clancy)~~cash. ~~Shanghai~~The ~~Clancy~~Company’s principal ~~registered~~business ~~Beijing~~objective ~~Clancy~~is ~~Information~~to ~~Technology~~identify ~~Co., Ltd.~~and ~~(Beijing~~complete ~~Clancy) as~~ a ~~wholly-owned~~business ~~subsidiary~~combination, ~~in Beijing on April 24~~acquisition, ~~2020.~~or ~~Unless~~other ~~the~~strategic ~~context~~transaction ~~indicates~~that ~~otherwise,~~will enable ~~any~~it ~~reference~~ to ~~the~~develop ~~Company~~active ~~includes its subsidiaries~~operations.

~~In October~~Corporate ~~2023, the Company, Shanghai Clancy,~~ and ~~Honghsna~~Operating Yuanda Limited (a company owned by Mr. Meng, the current Chief Financial Officer of the Company) entered an agreement to assign, transfer and convey all of its rights, titles and interest in and to Shanghai Clancy, along with its ownership of Beijing Clancy, to Hongshan Yuanda Limited. The effective date of this transfer is June 30, 2023. As of the date of transfer, Shanghai Clancy had no operations and no assets and all liabilities were assigned to the transferee.Background

~~Brilliant~~In April 2020, the Company established Shanghai Clancy Enterprise Management NCo.E, Ltd.V (“Shanghai Clancy”), a wholly foreign-owned enterprise in Shanghai, China. ~~Corp~~Shanghai Clancy subsequently established Beijing Clancy Information Technology Co., Ltd. (“Beijing Clancy”) as its wholly owned subsidiary in Beijing, China. The Company previously conducted limited operations in China through these subsidiaries.

(On June 26, 2023, a change in control occurred. Pursuant to a stock ~~Nevada~~purchase ~~company)~~agreement entered into among the Company, Xiangying Meng and other selling shareholders, and Guangzhe Su, the sellers transferred an aggregate 79,700,000 shares of common stock, representing approximately 52.056% of the Company’s outstanding common stock, to Mr. Su. In connection with the change in control, the Company ceased the operations of its China subsidiaries.

↓On July 28, 2023, the Company amended its articles of incorporation ~~100%~~to change its name from Clancy Corp. to Brilliant N.E.V. Corp.

In October 2023, the Company, Shanghai Clancy, and Hongshan Yuanda Limited entered into an agreement pursuant to which all of the Company’s rights, title and interest in and to Shanghai Clancy, ~~Enterprise~~including ~~Management~~Shanghai CoClancy’s ownership of Beijing Clancy, were transferred to Hongshan Yuanda Limited, effective as of June 30, 2023. As of the effective date of the transfer, ~~Ltd~~Shanghai Clancy had no operations and no assets, and all liabilities were assigned to the transferee.

(As a result, as of July 31, 2024, the Company no longer had active ~~Shanghai~~PRC ~~company)~~operating subsidiaries and had not commenced any replacement operating business.

~~↓100%~~Business Strategy

~~Beijing~~The Company’s ~~Clancy~~strategy ~~Information~~is ~~Technology~~to Copreserve its reporting-company status while evaluating potential business opportunities, acquisitions, and strategic transactions. Because the Company remains a shell company, ~~Ltd~~any future operating business is expected to require additional capital, the issuance of equity securities, or both. Management expects that any such transaction could result in substantial dilution to existing shareholders and could involve a change in the composition of the Company’s board and management.

~~(a Beijing company)~~Employees

~~Nonetheless, investors~~As ~~should be aware that legal and operational risks due to our operations in the PRC. Depending on the nature~~ of ~~our~~July ~~business and/or~~31, ~~operations~~2024, the ~~PRC~~Company ~~government~~had ~~may~~no ~~exert~~full-time ~~a significant amount of control and/or regulation on the PRC operating entity~~employees. ~~This~~The ~~regulation~~Company ~~and/or~~relies ~~control~~on ~~could~~its ~~result~~officers ~~in a material change our company’s post-combination operations~~ and ~~the~~outside ~~value~~professionals ~~of common stock held by investors. It also could significantly limit or completely hinder our ability~~ to ~~offer~~manage orits ~~continue to offer securities to investors. Furthermore~~reporting, ~~it could cause the value of such securities to significantly decline or be worthless. Recently~~legal, ~~the PRC government initiated a series of regulatory actions and made a number of public statements on the regulation of business operations in China with little advance notice~~accounting, including cracking down on illegal activities in the securities market, enhancing supervision over China-based companies listed overseas using a variable interest entity structure, adopting new measures to extend the scope of cybersecurity reviews, and ~~expanding~~administrative ~~efforts in anti-monopoly enforcement~~functions.

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As such, with respect to our future business, we will avoid any business restricted by the PRC, that is involving “Important Industry,” “National Economic Security,” a “well-known trademark,” or a “Chinese traditional brand.” Foreign ownership of these type of PRC companies require approval by the PRC authorities. Typically, these types of companies are acquired by foreign entities (without PRC approval) using a variable interest entity (VIE) structure whereby contractual agreements are entered into between the foreign acquiring company (or its subsidiary) and the PRC operating entity, however, the PRC operating company never becomes a direct subsidiary of the foreign acquiring company. Notwithstanding the forgoing, nonetheless the Company will face numerous risks and uncertainties with respect to any operations in the PRC. PRC laws and regulations are uncertain, as many of these laws and regulations are relatively new and may be subject to change, and their official interpretation and enforcement by the PRC government may involve substantial uncertainty. Generally, PRC has substantially less experience through its judiciary or the arbitration process as compared to the United States or the Cayman Islands. In addition, laws in the PRC are subject to change in the future with little advance notice which could negatively impact our future business and stock price.

As stated above, we do not believe that we will be directly subject to these regulatory actions or statements, as we do not intend to have a VIE structure and any such business acquired will not involve the collection of user data, implicate cybersecurity, or involve any other type of restricted industry. However, because these statements and regulatory actions are new, it is highly uncertain how soon legislative or administrative regulation making bodies in China will respond to them, or what existing or new laws or regulations will be modified or promulgated, if any, or the potential impact such modified or new laws and regulations will have on our daily business operations or our ability to accept foreign investments and list on an U.S. exchange. See “Risk Factors – Risks Related to Doing Business in China.”

As we develop operations in the PRC, our business, financial condition, results of operations, prospects and certain transactions may be subject to economic, political and legal developments in the PRC. Unlike in the United States, the enforcement of laws and rules and regulations in the PRC can change quickly with little advance notice; and the Chinese government may intervene or influence our operations at any time, or may exert more control over offerings conducted overseas and/or foreign investment in PRC-based issuers which could result in a material change in our operations and/or the value of our common shares. Recent statements by the Chinese government have indicated an intent to exert more oversight and control over offerings that are conducted overseas and/or foreign investments in China based issuers. Any future action by the Chinese government expanding the categories of industries and companies whose foreign securities offerings are subject to government review could significantly limit or completely hinder our ability to offer or continue to offer securities to investors and could cause the value of such securities to significantly decline or be worthless. See “Risk Factors – Risks Related to Doing Business in China.”

As of the date of this filing, based upon our understanding, we are not (i) required to obtain permissions from any PRC authorities to operate or issue our shares to foreign investors and (ii) subject to the permission requirements from the China Securities Regulatory Commission (CSRC), Cyberspace Administration of China (CAC) nor any other entity that is required to approve of our PRC subsidiaries’ operations. As of the date of this filing, we have not received, nor were we denied, such permissions by any PRC authority. If our determination that we are not subject to these regulatory requirements is incorrect or such requirements adversely change, foreign investors may be required to divest themselves of their investment and we may face sanctions, fines, or penalties from the PRC government and we may be required to divest our PRC operations, change certain aspects of our business to ensure compliance, which could decrease demand for our products, reduce revenues, increase costs, require us to obtain more licenses, permits, approvals or certificates, or subject us to additional liabilities. To the extent any new or more stringent measures are required to be implemented, our business, financial condition and results of operations could be adversely affected as well as materially decrease the value of our common shares.

Moreover, as stated above, we will avoid businesses requiring a VIE structure under PRC regulations. As stated above, this type of VIE structure typically entails contractual agreements between the acquiring company (ie the Company) (or its subsidiary) and the PRC operating entity, however, at no time is the PRC operating company a subsidiary of the acquiring company.

Since we intend to use a direct ownership structure rather that a VIE structure, under PRC law, the Company will be able to distribute dividends, if any, from its operating PRC entity. The operating PRC subsidiary will be able to distribute dividends upstream to the parent company and the parent company will then be able to distribute the dividends to its shareholders on a proportionate basis, provided however, that the PRC subsidiary has distributable earnings. Current PRC regulations permit an operating subsidiary to pay dividends to their respective shareholders only out of their accumulated profits, if any, determined in accordance with PRC accounting standards and regulations. In addition, each PRC subsidiarity will be required to set aside at least 10% of its after-tax profits each year, if any, to fund a statutory reserve until such reserve reaches 50% of each of its registered capital. These reserves are not distributable as cash dividends. However, as of this date, we have not made any upstream transfers, dividends or distributions.

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Pursuant to the Holding Foreign Companies Accountable Act (“HFCAA”), the Public Company Accounting Oversight Board (the “PCAOB”) issued a Determination Report on December 16, 2021 which found that the PCAOB is unable to inspect or investigate completely registered public accounting firms headquartered in: (1) mainland China of the People’s Republic of China because of a position taken by one or more authorities in mainland China; and (2) Hong Kong, a Special Administrative Region and dependency of the PRC, because of a position taken by one or more authorities in Hong Kong. In addition, the PCAOB’s report identified the specific registered public accounting firms which are subject to these determinations. Our registered public accounting firm, RH CPA, is not headquartered in mainland China or Hong Kong and was not identified in this report as a firm subject to the PCAOB’s determination. Notwithstanding the foregoing, if the PCAOB is not able to fully conduct inspections of our auditor’s work papers in China, you may be deprived of the benefits of such inspection which could result in limitation or restriction to our access to the U.S. capital markets and trading of our securities may be prohibited under the HFCAA. See “Risk Factors – Risks Related to Doing Business in China.” Although the audit report included herein was issued by U.S. auditors who are currently inspected by the PCAOB, if it is later determined that the PCAOB is unable to inspect or investigate our auditor completely, investors would be deprived of the benefits of such inspection and our common shares may be delisted or prohibited from trading.

Company Background.

Brilliant N.E.V. Corp. (the “Company”) was incorporated under the laws of the State of Nevada on March 22, 2016.

On January 15, 2020, the Company filed a Certificate of Amendment to Articles of Incorporation with the Nevada Secretary of State (the “Amendment”) which effectuated the following corporate actions:

● the forward split of our issued and outstanding common stock, $0.001 par value, on thirty (30) post-split shares for a one (1) pre-split share basis applicable to shareholders of record as of January 2, 2020, and

● The increase of our authorized shares of common stock, $0.001 par value, from 75,000,000 to 345,000,000.

The above corporate actions were adopted by written consent of our sole Director on January 2, 2020, and the sole Director recommended the Corporate Actions be presented to our shareholders for approval. On January 3, 2020, our majority stockholder, holding 64.4% of our outstanding voting securities executed written consent approving the Corporate Actions. For purposes of the forward stock split described above, the sole Director also set January 2, 2020 as the record date of such action.

On April 13, 2020, Brilliant N.E.V Corp. (formerly Clancy Corp.) (“Company”) received notification from the National Enterprise Credit Information Publicity System that it had approved the Company’s establishment of Shanghai Clancy Enterprise Management Co., Ltd (“Shanghai Clancy”) as a wholly owned foreign entity in Shanghai, Peoples Republic of China (“WOFE”). The initial application was filed by the Company with the PRC governmental agency on November 2, 2019. Shanghai Clancy registered a wholly-owned subsidiary in Beijing on April 24, 2020. Its name is Beijing Clancy Information Technology Co., Ltd. The main business scope is technology development, transfer, consultation, service and promotion. In October 2023, the Company, Shanghai Clancy, and Honghsna Yuanda Limited (a company owned by Mr. Meng, the current Chief Financial Officer of the Company) entered an agreement to assign, transfer and convey all of its rights, titles and interest in and to Shanghai Clancy, along with its ownership of Beijing Clancy, to Hongshan Yuanda Limited. The effective date of this transfer is June 30, 2023. As of the date of transfer, Shanghai Clancy had no operations and no assets and all liabilities were assigned to the transferee.

On July 6, 2020, the Nevada Secretary of State approved the Company’s Certificate of Amendment to Articles of Incorporation which effectuated the following corporate action (“Corporate Action”):

● the reverse split of our issued and outstanding common stock, $0.001 par value, on thirty (30) pre-split shares to one (1) post-split share basis. Fractional shares resulting from the action will be rounded up to the nearest whole share.

The above corporate action was adopted by written consent of our sole Director on June 11, 2020, and the sole Director recommended the corporate action be presented to our shareholders for approval. For purposes of the reverse stock split described above, the sole Director also set June 12, 2020 as the record date of such action. On June 12, 2020, our majority stockholder, holding 91.885% of our outstanding voting securities, executed written consent in lieu of a shareholder meeting approving the corporate action.

On December 23, 2020, the Company closed a private placement of its common stock to five parties pursuant to which five parties subscribed to 150,000,000 shares of common stock for the sum of $300,000.

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~~On June~~Special ~~26,~~Note ~~2023,~~Regarding a change of control occurred with respect to the Company. Pursuant to a Stock Purchase Agreement entered into by and among Clancy Corp. (“Company”), Xiangying Meng, the Company’s sole officer and director and majority shareholder, along with certain other shareholders, as sellers (collectively “Sellers”), and Guangzhe Su (“Buyer”) (the “Purchase Agreement”), Sellers collectively assigned, transferred and conveyed to Buyer a total of 79,700,000 shares of common stock of Company (“Common Stock”), which represents approximately 52.056% of the total issued and outstanding shares of the Company. The Common Stock was acquired for the sum of $50,000 payable to the Sellers, and in addition, the Company will enter into a two year consulting agreement with Mr. Meng for $189,100. In addition, Mr. Meng forgave all of the outstanding indebtedness owed by the Company. Mr. Su used his own personal funds to acquire the Common Stock.China

OnAlthough the Company’s ~~July~~principal 4executive office remained in Hangzhou, ~~2023~~Zhejiang Province, ~~two~~China as of ~~our~~July ~~shareholders~~31, ~~holding~~2024, athe ~~total~~Company ofhad ~~108,103,250~~ceased ~~shares~~its ofprior ~~our~~China subsidiary ~~common~~operations ~~stock~~effective ~~(or~~June ~~70.607%~~2023 ofand ~~our~~transferred ~~outstanding~~the ~~voting~~former China subsidiaries effective June 30, 2023. The Company therefore ~~securities)~~did ~~executed~~not ~~written~~have ~~consent~~active ~~approving~~operations in the ~~name~~PRC ~~change~~as of July 31, 2024. Nevertheless, because the Company’s principal ~~from~~executive ~~Clancy~~office ~~Corp.~~and tocertain ~~Brilliant~~officers ~~N.E.V.~~are ~~Corp.~~located ~~The~~in ~~Company filed~~China, aninvestors ~~amendment~~should toconsider ~~its~~the ~~Articles~~legal, ofregulatory, ~~Incorporation~~and operational risks associated with ~~the~~maintaining ~~Nevada~~a ~~Secretary~~management ofpresence ~~State~~in toChina, ~~effect~~including ~~the~~changing ~~name~~PRC ~~change~~laws onand ~~July~~regulations, 28data and information restrictions, and ~~2023~~the potential for governmental intervention.

~~Proposed Combinations~~Item 1A. Risk Factors.

~~Presently, under~~We ~~SEC~~are ~~Rule 405 promulgated under the Act, the Company qualifies as~~ a “shell company,” ~~because~~with ~~it has~~ no ~~or nominal assets~~operating revenue and no oractive ~~nominal~~business operations. Management does not intend to undertake any efforts to cause a market to develop in our securities, either debt or equity, until we have successfully concluded a business combination or until it has successfully developed an operating business. The Company intends to comply with the periodic reporting requirements of the Act for so long as it is subject to those requirements.

~~The Company’s~~As ~~principal~~of ~~business~~July ~~objective~~31, ~~for~~2024, the ~~next~~Company 12remained ~~months~~a ~~and~~shell ~~beyond~~company ~~such~~and ~~time~~had ~~will~~not commenced bea tonew ~~achieve~~operating ~~long-term~~business. ~~growth~~Accordingly, ~~potential through~~investors aface ~~combination~~the ~~with~~risk athat ~~business~~the orCompany ~~through~~may ~~the~~never ~~successful~~identify ~~development~~or ofcomplete ~~its~~a suitable business combination ~~described~~or ~~below~~otherwise generate revenues.

~~As of~~Our ~~the~~independent ~~date~~auditors ofare ~~this report, the Company has not entered into any definitive agreement with any party, nor have there been any specific~~expected ~~discussions~~to ~~with~~continue ~~any~~to ~~potential~~express ~~business~~substantial ~~combination~~doubt ~~candidate~~about ~~regarding~~our ~~business~~ability ~~opportunities~~to ~~for~~continue ~~the~~as ~~Company. The~~a ~~Company has~~going ~~unrestricted flexibility in seeking, analyzing and participating in potential business opportunities~~concern.

~~Potential~~The Company has incurred recurring losses, has an accumulated deficit, ~~Acquisition~~and ~~Structure~~has historically relied on related-party support to fund its operations. If additional capital or continued related-party support is not available, the Company may be unable to satisfy its reporting obligations or pursue a strategic transaction.

~~If we~~We ~~move~~are ~~forward~~dependent ~~with~~on ~~acquiring another business for which no assurances can be given, it will be impossible to predict the manner in~~related-party ~~which the Company may participate in a business opportunity~~funding. Specific business opportunities will be reviewed as well as the respective needs and desires of the Company and the promoters of the opportunity and, upon the basis of that review and the relative negotiating strength of the Company and such promoters, the legal structure or method deemed by management to be suitable will be selected. Such structure may include, but is not limited to leases, purchase and sale agreements, licenses, joint ventures and other contractual arrangements. The Company may act directly or indirectly through an interest in a partnership, corporation or other form of organization. Implementing such structure may require the merger, consolidation or reorganization of the Company with other corporations or forms of business organization, and although it is likely, there is no assurance that the Company would be the surviving entity. In addition, the present management, board of directors and stockholders of the Company most likely will not have control of a majority of the voting shares of the Company following a reorganization transaction. As part of such a transaction, the Company’s existing management and directors may resign and new management and directors may be appointed without any vote by stockholders.

~~It is~~During ~~likely~~fiscal ~~that~~2024, the Company ~~will~~continued acquire its participation in a business opportunity through the issuance of Common Stock or other securities of the Company. Although the terms of any such transaction cannot be predicted, it should be noted that in certain circumstances the criteria for determining whether or not an acquisition is a so-called “tax free” reorganization under the Internal Revenue Code of 1986, depends upon the issuance to ~~the~~rely ~~stockholders~~on ofadvances ~~the acquired company of a controlling interest (i.e. 80% or more) of the~~from ~~common~~related ~~stock~~parties ~~of the combined entities immediately following the reorganization. If a transaction were structured~~ to ~~take~~fund ~~advantage~~reporting, ~~of these provisions rather than other “tax free” provisions provided under the Internal Revenue Code~~compliance, ~~the Company’s current stockholders would retain in the aggregate 20% or less of the total issued~~ and ~~outstanding~~administrative ~~shares~~expenses. ~~This~~There ~~could~~is ~~result~~no inassurance ~~substantial~~that ~~additional dilution in the equity of those who were stockholders of the Company prior to~~ such ~~reorganization.~~funding Any such issuance of additional shares might also be done simultaneously with a sale or transfer of shares representing a controlling interest in the Company by the principal shareholders. The Company does not intend to supply disclosure to shareholders concerning a target company prior to the consummation of a business combination transaction, unless required by applicable law or regulation. The Company will ~~file~~remain ~~a current report~~available on ~~Form~~acceptable ~~8-K,~~terms asor ~~required,~~at ~~within four business days of a business combination which results in the Company ceasing to be a shell company~~all. ~~This Form 8-K will include complete disclosure of the target company, including audited financial statements.~~

Any future business combination is likely to result in substantial dilution and a change in control of management or the board.

To complete an acquisition or other strategic transaction, the Company likely will issue a substantial number of shares or other securities. Existing shareholders may be significantly diluted, and the current board or management may be replaced.

Our delinquent Exchange Act reporting status may impair our marketability and increase regulatory and transactional risk.

Because this report is being filed as part of a catch-up reporting process, the Company faces additional reputational, transactional, and compliance risk, including difficulties with financing, transfer-agent processing, and counterparties’ willingness to transact with the Company.

Our internal control over financial reporting is not effective.

Management has identified material weaknesses in internal control over financial reporting, including insufficient accounting personnel, inadequate segregation of duties, and limited written accounting policies and procedures. Until remediated, these weaknesses could result in material misstatements.

Our common stock may be considered a penny stock and may be illiquid.

If the Company’s common stock is quoted at a low price and does not meet an exemption from the penny-stock rules, broker-dealers may be subject to additional sales-practice requirements, which can reduce liquidity and market interest.

Risks associated with China remain relevant to the Company.

Even though the Company no longer had active PRC subsidiaries as of July 31, 2024, its principal executive office remained in China and members of management have substantial ties to China. PRC regulatory changes, governmental intervention, or restrictions affecting management access to information or capital could adversely affect the Company.

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~~It is~~Cybersecurity ~~anticipated~~processes ~~that any new securities issued in any reorganization would be issued in reliance upon exemptions, if any~~ are ~~available, from registration under applicable federal and state securities laws~~limited. In some circumstances, however, as a negotiated element of the transaction, the Company may agree to register such securities either at the time the transaction is consummated, or under certain conditions or at specified times thereafter. The issuance of substantial additional securities and their potential sale into any trading market that might develop in the Company’s securities may have a depressive effect upon such market.

~~The present~~Because ~~majority~~the ~~stockholder~~Company ofhas ~~the~~minimal ~~Company~~operations ~~will~~and ~~likely~~limited ~~not~~personnel, ~~have~~its cybersecurity ~~control~~risk-management processes are less developed than those of a ~~majority~~more ofmature ~~the~~operating ~~voting~~company. ~~securities~~While ofmanagement ~~the~~is ~~Registrant~~not ~~following~~aware aof ~~reorganization~~any ~~transaction.~~material Ascybersecurity ~~part~~incidents ofthrough ~~such~~July a31, ~~transaction~~2024, the ~~Registrant’s~~Company ~~directors~~remains ~~may~~vulnerable ~~resign~~to ~~and~~cyber ~~one~~threats oraffecting ~~more~~its ~~new directors~~records, ~~may~~reporting besystems, ~~appointed~~or bythird-party ~~our~~service ~~majority stockholder~~providers.

~~In the~~Our ~~case~~common ofstock anis ~~acquisition,~~not ~~the transaction may be accomplished upon the sole determination of management with the consent of our majority~~registered ~~stockholder.~~under InSection ~~the~~12 ~~case~~ of ~~a statutory merger or consolidation directly involving~~ the ~~Company,~~Exchange itAct ~~will likely be necessary to call a stockholders’ meeting~~ and ~~obtain the approval of the holders of a majority of the outstanding securities. The necessity to obtain such stockholder approval~~ may ~~result~~have inlimited ~~delay~~market ~~and additional expense in the consummation of any proposed transaction and will also give rise to certain appraisal rights to dissenting stockholders~~visibility. ~~Most likely, management will seek to structure any such transaction so as not to require stockholder approval.~~

The Company ~~will~~has ~~participate~~no insecurities aregistered ~~business~~under ~~opportunity~~Section ~~only~~12(b) ~~after~~or ~~the negotiation~~ 12(g), and ~~execution~~trading ofin ~~a written agreement. Although~~ the ~~terms of~~Company’s ~~such agreement cannot be predicted~~stock, ~~generally~~if ~~such an agreement would require specific representations and warranties by all of the parties thereto~~any, ~~specify~~may ~~certain events of default, detail the terms of closing and the conditions which must~~ be ~~satisfied~~sporadic ~~by each of~~and ~~the~~infrequent. ~~parties~~As ~~thereto~~a ~~prior to such closing~~result, ~~outline~~shareholders ~~the~~may ~~manner~~have ofdifficulty ~~bearing~~selling ~~costs~~their ifshares ~~the transaction is not closed, set forth remedies upon default,~~ and ~~include~~there ~~miscellaneous~~may ~~other~~be ~~terms~~little ~~normally~~reliable ~~found~~market-price ~~in an agreement of that type~~information available.

It is anticipated that the investigation of specific business opportunities and the negotiation, drafting and execution of relevant agreements, disclosure documents and other instruments will require substantial costs for accountants, attorneys and others. If a decision is made not to participate in a specific business opportunity, the costs theretofore incurred in the related investigation might not be recoverable. Moreover, because many providers of goods and services require compensation at the time or soon after the goods and services are provided, the inability of the Company to pay until an indeterminate future time may make it impossible to procure such goods and services.

The Company intends to search for a target for a business combination by contacting various sources including, but not limited to, our affiliates, lenders, investment banking firms, private equity funds, consultants and attorneys. The approximate number of persons or entities that will be contacted is unknown and dependent on whether any opportunities are presented by the sources that we contact. It is anticipated that the investigation of specific business opportunities and the negotiation, drafting and execution of relevant agreements, disclosure documents and other instruments will require substantial management time and attention and substantial cost for accountants, attorneys and others. If a decision is made not to participate in a specific business opportunity, the costs theretofore incurred in the related investigation might not be recoverable. Furthermore, even if an agreement is reached for the participation in a specific business opportunity, the failure to consummate that transaction may result in the loss to the Registrant of the related costs incurred.

Our officers and directors are engaged in outside business activities. Our officers and directors anticipate that they will devote very limited time to our business until the acquisition of a successful business opportunity has been identified. The specific amount of time that management will devote to the Company may vary from week to week or even day to day, and therefore the specific amount of time that management will devote to the Company on a weekly basis cannot be ascertained with any level of certainty. In all cases, management intends to spend as much time as is necessary to exercise its fiduciary duties as officer and director of the Company. We expect no significant changes in the number of our employees other than such changes, if any, incident to a business combination.

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Recent Business Events.

Since the creation of its WOFE in April 2020, the Company has attempted to establish a technology driven business in the PRC though its WOFE. Clancy initially will seek to provide services to small and medium-sized enterprises in and around the Beijing metropolitan area. In the future, we intend to expand to other geographical areas with China. These services can be segregated into the following four segments:

(1) Information technology consulting and training services including enterprise information planning, technology management consulting, information engineering implementation, testing, evaluation and certification, enterprise staff skills training;

(2) Information technology operation and maintenance and supporting services: including daily IT system condition monitoring, IT asset configuration change, system upgrading and optimization, system architecture construction and improvement, disaster recovery system construction and spare parts, operation and maintenance tool materials, operation and maintenance team call;

(3) Design, development and testing services: including website server-side development, website client-side development, smart-phone application development, underlying tool development, multi-functional script program, artificial intelligence, desktop program, industrial control program development and related testing work.

(4) Data processing and integration implementation services: including general application layer data exchange, database construction, data collection and analysis, process improvement, etc.

In addition, on May 26, 2020, the Company entered into a three year lease agreement for its office premises. The office space is 600 square meters. The annual rent is 480,000RMB ($72,000) which has been paid in advance for the initial year of the lease.

In May 2021, the Company ceased its IT services and re-focused its operations to provide marketing services to small and median sized businesses. The Company then changed its business to a product marketing consulting firm that provides product marketing consulting services to clients. The Company will develop marketing programs and strategies in line with customer needs. Our marketing programs will help clients with detailed analysis on the market data in their industry, including historical data. We also will assist clients expand their marketing communication channels including but not limited to advertisements in the business journals, electronical communication tools such as WeChat marketing programs, etc. We charge an agreed upon fee based on technical difficulties and the marketing reach of the programs. During the fourth quarter of fiscal 2022, the Company terminated this business.

Corporate Information

Office.

Our current business office is located at: Room 805, West Building 4, Xintiandi Business Center, Gongshu District, Hangzhou City, Zhejiang Province, China. Our phone number is +86-189-1098-4577. The Company does not have a web-site.

Employees.

As of the date of this filing, the Company has no full time employees.

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Item 1A. Risk Factors

Our plan of operation is to obtain debt or equity finance to meet our ongoing operating expenses and attempt to merge with another entity with experienced management and opportunities for growth in return for shares of our common stock to create value for our shareholders. There can be no assurance that any of the events can be successfully completed, that any such business will be identified or that any stockholder will realize any return on their shares after such a transaction has been completed. In particular, there is no assurance that any such business will be located or that any stockholder will realize any return on their shares after such a transaction. Any merger or acquisition completed by us can be expected to have a significant dilutive effect on the percentage of shares held by our current stockholders. We believe we are an insignificant participant among the firms which engage in the acquisition of business opportunities. There are many established venture capital and financial concerns that have significantly greater financial and personnel resources and technical expertise than we have. In view of our limited financial resources and limited management availability, we will continue to be at a significant competitive disadvantage compared to our competitors.

You should be aware that there are various risks associated with our business, including the risks discussed below. You should carefully consider these risk factors, as well as the other information contained herein, in evaluating our business and us.

RISKS RELATED TO OUR OPERATIONS, FINANCIAL CONDITION AND BUSINESS

WE HAVE INCURRED SIGNIFICANT LOSSES AND ANTICIPATE FUTURE LOSSES. As of July 31, 2023, we had an accumulated deficit of $5,401 and no revenues for the current fiscal year. We also expect future losses until we are able to generate revenues through a merger with an operating company or through our emerging business operations (for which no assurances can be given). As a result of these, among other, factors we received from our registered independent public accountants in their report for the financial statements for the years ended July 31, 2023 and 2022, the accompanying financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern. The Company currently has losses and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time, which adds substantial doubt about the Company continuing as a going concern. Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses. The Company intends to position itself so that it will be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern.

OUR EXISTING FINANCIAL RESOURCES ARE INSUFFICIENT TO MEET OUR ONGOING OPERATING EXPENSES. We have limited sources of income at this time and limited existing cash balances to meet our ongoing operating expenses, including funds to expand our initial business operations. We have relied upon affiliates of the Company to make advances to the Company to cover our operating expenditures. There are no assurances that these advances will continue in the future. The failure of these advances to continue in the future may result in our security holders losing their entire investment.

THE ADMINISTRATIVE COSTS OF PUBLIC COMPANY REGULATORY COMPLIANCE COULD BECOME BURDENSOME AND CONSUME A SIGNIFICANT AMOUNT OF OUR CASH RESOURCES WHICH COULD MATERIALLY AND ADVERSELY AFFECT OUR BUSINESS. We will incur significant costs and expenses in connection with assuring compliance with all laws, rules and regulations applicable to us as a public company. We anticipate that our ongoing costs and expenses of complying with our public reporting company obligations will be approximately $30,000 to 50,000 annually. Our reporting and compliance costs and expenses may increase substantially if we are able to deploy our business model on an international basis, which will add significant cross-border jurisdictional complexity to our regulatory compliance and our accounting controls and procedures. Our compliance costs and expenses could also increase substantially if we apply for trading of our securities on a national stock exchange which may have listing requirements that engender additional administration and compliance costs. We have assigned a high priority to establishing and maintaining controls, procedures, corporate compliance and public company reporting; however, there can be no assurance that we will have sufficient cash resources available to satisfy our public company reporting and compliance obligations. If we are unable to cover the cost of proper administration of our public company compliance and reporting obligations, we could become subject to sanctions, fines and penalties, our stock could be barred from trading in public capital markets and we may have to cease doing business.

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IN THE FUTURE, WE MAY PURSUE THE ACQUISITION OF AN OPERATING BUSINESS. At the present time we expect to continue to develop our business. However, it is conceivable that we may seek to acquire an operating business in the future. Successful implementation of this strategy depends on our ability to identify a suitable acquisition candidate, acquire such company on acceptable terms and integrate its operations. In pursuing acquisition opportunities, we compete with other companies with similar strategies. Competition for acquisition targets may result in increased prices of acquisition targets and a diminished pool of companies available for acquisition. Acquisitions involve a number of other risks, including risks of acquiring undisclosed or undesired liabilities, acquired in-process technology, stock compensation expense, diversion of management attention, potential disputes with the seller of one or more acquired entities and possible failure to retain key acquired personnel. Any acquired entity or assets may not perform relative to our expectations. Our ability to meet these challenges has not been established.

SCARCITY OF, AND COMPETITION FOR, BUSINESS OPPORTUNITIES AND COMBINATIONS. We believe we are an insignificant participant among the firms which engage in the acquisition of business opportunities. There are many established venture capital and financial concerns that have significantly greater financial and personnel resources and technical expertise than we have. Nearly all such entities have significantly greater financial resources, technical expertise and managerial capabilities than us and, consequently, we will be at a competitive disadvantage in identifying possible business opportunities and successfully completing a business combination. Moreover, we will also compete in seeking merger or acquisition candidates with numerous other small public companies. In view of our limited financial resources and limited management availability, we will continue to be at a significant competitive disadvantage compared to our competitors.

WE HAVE NOT EXECUTED ANY FORMAL AGREEMENT FOR A BUSINESS COMBINATION OR OTHER TRANSACTION AND HAVE ESTABLISHED NO STANDARDS FOR BUSINESS COMBINATIONS. We have not executed any formal arrangement, agreement or understanding with respect to engaging in a merger with, joint venture with or acquisition of a private or public entity. There can be no assurance that we will be successful in identifying and evaluating suitable business opportunities or in concluding a business combination. We have not identified any particular industry or specific business within an industry for evaluation. There is no assurance we will be able to negotiate a business combination on terms favorable, if at all. We have not established a specific length of operating history or specified level of earnings, assets, net worth or other criteria which we will require a target business opportunity to have achieved, and without which we would not consider a business combination. Accordingly, we may enter into a business combination with a business opportunity having no significant operating history, losses, limited or no potential for earnings, limited assets, negative net worth or other negative characteristics.

WE MAY BE NEGATIVELY AFFECTED BY ADVERSE GENERAL ECONOMIC CONDITIONS INCLUDING THE IMPACT OF COVID 19. Current conditions in domestic and global economies are extremely uncertain. Adverse changes may occur as a result of softening global economies, wavering consumer confidence caused by the threat of terrorism and war, and other factors capable of affecting economic conditions. Such changes could have a material adverse effect on our business, financial condition, and results of operations. In March 2020, the World Health Organization declared the novel coronavirus (COVID-19) a global pandemic and recommended containment and mitigation measures worldwide. The spread of COVID-19 has affected segments of the global economy and may affect our operations, including the potential interruption of our supply chain. We are monitoring this situation closely, and although operations have not been materially affected by the COVID-19 outbreak to date, the ultimate duration and severity of the outbreak and its impact on the economic environment and our business is uncertain.

BECAUSE OUR PRINCIPAL SHAREHOLDER CONTROLS OUR ACTIVITIES, HE MAY CAUSE US TO ACT IN A MANNER THAT IS MOST BENEFICIAL TO HIMSELF AND NOT TO OTHER SHAREHOLDERS WHICH COULD CAUSE US NOT TO TAKE ACTIONS THAT OUTSIDE INVESTORS MIGHT VIEW FAVORABLY. Our principal shareholders own approximately 70% of our outstanding common stock. As a result, he effectively controls all matters requiring stockholder approval, including the election of directors, the approval of significant corporate transactions, such as mergers and related party transaction. These insiders also have the ability to delay or perhaps even block, by their ownership of our stock, an unsolicited tender offer. This concentration of ownership could have the effect of delaying, deterring or preventing a change in control of our company that you might view favorably.

OUR DIRECTORS MAY HAVE CONFLICTS OF INTEREST WHICH MAY NOT BE RESOLVED FAVORABLY TO US. Certain conflicts of interest may exist between our officers and directors and us. Our officers and directors have other business interests to which he also must devote his time, resources and attention. Thus, a conflict of interest may arise in the future that may cause our business to fail, including conflicts of interest in allocating his resources, time and attention to our Company and their other business interests.

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WE MAY DEPEND UPON OUTSIDE ADVISORS; WHO MAY NOT BE AVAILABLE ON REASONABLE TERMS AND AS NEEDED. To supplement the business experience of our officers and directors, we may be required to employ accountants, technical experts, appraisers, attorneys, or other consultants or advisors. Our Board without any input from stockholders will make the selection of any such advisors. Furthermore, it is anticipated that such persons may be engaged on an “as needed” basis without a continuing fiduciary or other obligation to us. In the event we consider it necessary to hire outside advisors, we may elect to hire persons who are affiliates, if they are able to provide the required services.

RISKS RELATED TO CHINA

RISK OF NEW REGULATIONS, SIGNIFICANT NEW GOVERNMENT OVERSIGHT IN CHINA. Investors should be aware that legal and operational risks exist with respect to our operations in the PRC. The PRC government may exert a significant amount of control and/or regulation on a PRC operating entity. This regulation and/or control could result in a material change of the company’s operations and the value of common stock held by investors. It also could significantly limit or completely hinder our ability to offer or continue to offer securities to investors. Furthermore, it could cause the value of such securities to significantly decline or be worthless. Recently, the PRC government initiated a series of regulatory actions and made a number of public statements on the regulation of business operations in China with little advance notice, including cracking down on illegal activities in the securities market, enhancing supervision over China-based companies listed overseas using a variable interest entity structure, adopting new measures to extend the scope of cybersecurity reviews, and expanding efforts in anti-monopoly enforcement. We do not believe that we will be directly subject to these regulatory actions or statements, as we do not expect to have a VIE structure and our business does not involve the collection of user data, implicate cybersecurity, or involve any other type of restricted industry. Because these statements and regulatory actions are new, however, it is highly uncertain how soon legislative or administrative regulation making bodies in China will respond to them, or what existing or new laws or regulations will be modified or promulgated, if any, or the potential impact such modified or new laws and regulations will have on our daily business operations or our ability to accept foreign investments and list on an U.S. exchange.

As stated herein, the Company does not intend to enter into a merger or acquisition involving these restricted industries, such as “Important Industry”, “National Economic Security”, a “well-known trademark”, or a “Chinese traditional brand” so as to avoid any regulation and/or approval by the PRC authorities. However, recent statements by the Chinese government have indicated an intent to exert more oversight and control over offerings that are conducted overseas and/or foreign investments in China based issuers. Investors should be aware that PRC laws are subject to change without notice and any future action by the Chinese government expanding the categories of industries and companies whose foreign securities offerings are subject to government review could negatively impact our future business (including our ability to enter into a merger with a PRC company) and our stock price could significantly limit or completely hinder our ability to offer or continue to offer securities to investors.

UNCERTAINTIES WITH RESPECT TO THE PRC LEGAL SYSTEM COULD ADVERSELY AFFECT US. The PRC legal system is a civil law system based on written statutes. Unlike the common law system, prior court decisions under the civil law system may be cited for reference but have limited precedential value.

In 1979, the PRC government began to promulgate a comprehensive system of laws and regulations governing economic matters generally. The overall effect of legislation over the past three decades has significantly enhanced the protections afforded to various forms of foreign investments in the PRC. However, the PRC has not developed a fully integrated legal system, and recently enacted laws and regulations may not sufficiently cover all aspects of economic activities in the PRC. In particular, the interpretation and enforcement of these laws and regulations involve uncertainties. Since PRC administrative and court authorities have significant discretion in interpreting and implementing statutory provisions and contractual terms, it may be difficult to evaluate the outcome of administrative and court proceedings and the level of legal protection we enjoy. These uncertainties may affect our judgment on the relevance of legal requirements and our ability to enforce our contractual rights or tort claims. In addition, these regulatory uncertainties may be exploited through unmerited or frivolous legal actions or threats in attempts to extract payments or benefits from us.

Furthermore, the PRC legal system is based in part on government policies and internal rules, some of which are not published on a timely basis or at all and may have a retroactive effect. As a result, we may not be aware of our violation of any of these policies and rules until sometime after the violation. In addition, any administrative and court proceedings in the PRC may be protracted, resulting in substantial costs and diversion of resources and management attention.

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PERMISSIONS FROM THE PRC AUTHORITIES TO ISSUE OUR COMMON STOCK TO FOREIGN INVESTORS. While we intend to develop a business in one or more industries that are not highly regulated in the PRC, nonetheless, we may be face governmental regulation and scrutiny in the future from the PRC government. As of the date of this filing, we (1) are not required to obtain permissions from any PRC authority to operate or issue our common stock to foreign investors, (2) are not subject to permission requirements from the China Securities Regulatory Commission (the “CSRC”), the Cyberspace Administration of China (the “CAC”) or any other entity that is required to approve of our PRC subsidiaries’ operations, and (3) have not received or were denied such permissions by any PRC authorities. Nevertheless, the General Office of the Central Committee of the Communist Party of China and the General Office of the State Council jointly issued the “Opinions on Severely Cracking Down on Illegal Securities Activities According to Law,” or the Opinions, which were made available to the public on July 6, 2021. The Opinions emphasized the need to strengthen the administration over illegal securities activities, and the need to strengthen the supervision over overseas listings by Chinese companies. Given the current PRC regulatory environment, it is uncertain when and whether we or our PRC subsidiaries, if any, will be required to obtain permission from the PRC government to list on U.S. exchanges in the future, and even when such permission is obtained, whether it will be denied or rescinded. We have been closely monitoring regulatory developments in China regarding any necessary approvals from the CSRC or other PRC governmental authorities required for overseas listings, including this offering. As of the date of this prospectus, we have not received any inquiry, notice, warning, sanctions or regulatory objection to this offering from the CSRC or other PRC governmental authorities. However, there remains significant uncertainty as to the enactment, interpretation and implementation of regulatory requirements related to overseas securities offerings and other capital markets activities.

RISKS RELATED TO A FUTURE DETERMINATION THAT THE PUBLIC COMPANY ACCOUNTING OVERSIGHT BOARD (THE “PCAOB”) IS UNABLE TO INSPECT OR INVESTIGATE OUR AUDITOR COMPLETELY. The audit report included herein was issued by RH CPA (“Auditor”) a U.S.-based accounting firm that is registered with the PCAOB and can be inspected by the PCAOB. We have no intention of dismissing the Auditor in the future or of engaging any auditor not based in the U.S. and not subject to regular inspection by the PCAOB. There is no guarantee, however, that any future auditor engaged by the Company would remain subject to full PCAOB inspection during the entire term of our engagement. The PCAOB is currently unable to conduct inspections in China without the approval of Chinese government authorities. If it is later determined that the PCAOB is unable to inspect or investigate our auditor completely, investors may be deprived of the benefits of such inspection. Any audit reports not issued by auditors that are completely inspected by the PCAOB, or a lack of PCAOB inspections of audit work undertaken in China that prevents the PCAOB from regularly evaluating our auditors’ audits and their quality control procedures, could result in a lack of assurance that our financial statements and disclosures are adequate and accurate. In addition, under the HFCAA, our securities may be prohibited from trading on the Nasdaq or other U.S. stock exchanges if our auditor is not inspected by the PCAOB for three consecutive years, and this ultimately could result in our Common Stock being delisted. Furthermore, on June 22, 2021, the U.S. Senate passed the Accelerating Holding Foreign Companies Accountable Act (“AHFCAA”), which, if enacted, would amend the HFCAA and require the SEC to prohibit an issuer’s securities from trading on any U.S. stock exchanges if its auditor is not subject to PCAOB inspections for two consecutive years instead of three.

Pursuant to the HFCAA, the PCOAB issued a Determination Report on December 16, 2021 which found that the PCAOB is unable to inspect or investigate completely registered public accounting firms headquartered in: (1) mainland China of the People’s Republic of China, because a position taken by one or more authorities in mainland China; and (2) Hong Kong, a Special Administrative Region and dependency of the PRC, because of a position taken by one or more authorities in Hong Kong. In addition, the PCOAB’s report identified the specific registered public accounting firms which are subject to these determinations. Our Auditor is not headquartered in mainland China or Hong Kong and was not identified in this report as a firm subject to the PCAOB’s determination.

RISKS RELATED TO OUR SECURITIES

WE WILL NEED TO RAISE ADDITIONAL CAPITAL. IF WE ARE UNABLE TO RAISE ADDITIONAL CAPITAL, OUR BUSINESS MAY FAIL. We will need to raise additional capital to fund our ongoing operations. We have no cash on hand nor any working capital. To secure additional financing, we may need to borrow money or sell more securities. Under the current circumstances, we may be unable to secure additional financing on favorable terms, if available at all.

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OUR NEED FOR CAPITAL WILL CREATE ADDITIONAL RISKS AND CREATE POTENTIAL SUBSTANTIAL DILUTION TO EXISTING SHAREHOLDERS. As mentioned above, we will need to raise additional capital in the future or rely upon borrowing from the Company’s officers and directors. Any equity raise will result in additional dilution to existing shareholders, and to the extent that any debt incurred is converted to common stock, the conversion of this debt will cause additional dilution to existing shareholders. This dilution may be substantial. Moreover, there can be no assurance that such additional financing, whether debt or equity, will be available to the Company or that it will be available on acceptable commercial terms. Any inability to secure such additional financing on appropriate terms could have a materially adverse impact on the business, financial condition and operating results of the Company.

REDUCTION OF PERCENTAGE SHARE OWNERSHIP FOLLOWING BUSINESS COMBINATION AND SUBSTANTIAL DILUTION TO STOCKHOLDERS. We may effect a business combination with a private concern which, in all likelihood, would result in us issuing securities to stockholders of such private company. The issuance of previously authorized and unissued shares of our common stock would result in reduction in percentage of shares owned by present and prospective stockholders. In addition, any merger or acquisition can be expected to have a significant dilutive effect on the percentage of the shares held our stockholders.

THE REGULATION OF PENNY STOCKS BY SEC AND FINRA MAY HAVE AN EFFECT ON THE TRADABILITY OF OUR SECURITIES. Our shares are subject to a Securities and Exchange Commission rule that imposes special sales practice requirements upon broker-dealers who sell such securities to persons other than established customers or accredited investors. For purposes of the rule, the phrase “accredited investors” means, in general terms, institutions with assets in excess of $5,000,000, or individuals having a net worth in excess of $1,000,000 or having an annual income that exceeds $200,000 (or that, when combined with a spouse’s income, exceeds $300,000).

For transactions covered by the rule, the broker-dealer must make a special suitability determination for the purchaser and receive the purchaser’s written agreement to the transaction prior to the sale. Consequently, the rule may affect the ability of broker-dealers to sell our securities and also may affect the ability of purchasers in this offering to sell their securities in any market that might develop therefore.

In addition, the Securities and Exchange Commission has adopted a number of rules to regulate “penny stocks.” Such rules include Rules 3a51-1, 15g-1, 15g-2, 15g-3, 15g-4, 15g-5, 15g-6, 15g-7, and 15g-9 under the Securities Exchange Act of 1934, as amended (“Exchange Act”). Because our securities constitute “penny stocks” within the meaning of the rules, the rules would apply to us and to our securities. The rules may further affect the ability of owners of Shares to sell our securities in any market that might develop for them.

Shareholders should be aware that, according to Securities and Exchange Commission, the market for penny stocks has suffered in recent years from patterns of fraud and abuse. Such patterns include (i) control of the market for the security by one or a few broker-dealers that are often related to the promoter or issuer; (ii) manipulation of prices through prearranged matching of purchases and sales and false and misleading press releases; (iii) “boiler room” practices involving high-pressure sales tactics and unrealistic price projections by inexperienced sales persons; (iv) excessive and undisclosed bid-ask differentials and markups by selling broker-dealers; and (v) the wholesale dumping of the same securities by promoters and broker-dealers after prices have been manipulated to a desired consequent investor losses. Our management is aware of the abuses that have occurred historically in the penny stock market. Although we do not expect to be in a position to dictate the behavior of the market or of broker-dealers who participate in the market, management will strive within the confines of practical limitations to prevent the described patterns from being established with respect to our securities.

The shares of our common stock may be thinly-traded on OTC-Pink, meaning that the number of persons interested in purchasing our shares of common stock at or near ask prices at any given time may be relatively small or non-existent. This situation is attributable to a number of factors, including the fact that we are a small company which is relatively unknown to stock analysts, stock brokers, institutional investors and others in the investment community that generate or influence sales volume, and that even if we came to the attention of such persons, they tend to be risk-averse and would be reluctant to follow an unproven, early stage company such as ours or purchase or recommend the purchase of our shares of common stock until such time as we became more seasoned and viable. As a consequence, there may be periods of several days or more when trading activity in our shares of common stock is minimal or non-existent, as compared to a seasoned issuer which has a large and steady volume of trading activity that will generally support continuous sales without an adverse effect on Securities price.

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OUR STOCK WILL IN ALL LIKELIHOOD BE THINLY TRADED AND AS A RESULT YOU MAY BE UNABLE TO SELL AT OR NEAR ASK PRICES OR AT ALL IF YOU NEED TO LIQUIDATE YOUR SHARES. We cannot give you any assurance that a broader or more active public trading market for our shares of Common Stock will develop or be sustained, or that any trading levels will be sustained. Due to these conditions, we can give investors no assurance that they will be able to sell their shares of common stock at or near ask prices or at all if you need money or otherwise desire to liquidate your shares of common stock of our Company.

OUR OFFICERS AND DIRECTORS MAY HAVE A CONFLICT OF INTEREST WITH THE MINORITY SHAREHOLDERS AT SOME TIME IN THE FUTURE. SINCE THE MAJORITY OF OUR SHARES OF COMMON STOCK ARE DEEMED TO BE OWNED BY OUR OFFICERS AND DIRECTORS, OUR OTHER STOCKHOLDERS MAY NOT BE ABLE TO INFLUENCE CONTROL OF THE COMPANY OR DECISION MAKING BY MANAGEMENT OF THE COMPANY. Our officers and directors beneficially own 70.607% of our outstanding common stock. The interests of our officer and director may not be, at all times, the same as that of our other shareholders, he will have the ability to exert complete control over the affairs of the Company. Also, he will have the ability to control the outcome of most corporate actions requiring shareholder approval, including the sale of all or substantially all of our assets and amendments to our articles of incorporation. This concentration of ownership may also have the effect of delaying, deferring or preventing a change of control of us, which may be disadvantageous to minority shareholders.

RULE 144 SALES IN THE FUTURE MAY HAVE A DEPRESSIVE EFFECT ON OUR STOCK PRICE. All of the outstanding shares of common stock held by our present officers, directors, and affiliate stockholders are “restricted securities” within the meaning of Rule 144 under the Act. As restricted Shares, these Shares may be resold only pursuant to an effective registration statement or under the requirements of Rule 144 or other applicable exemptions from registration under the Act and as required under applicable state securities laws. We are registering all of our outstanding Shares so officers, directors and affiliates will be able to sell their Shares if this Registration Statement becomes effective. Rule 144 provides in essence that a person who has held restricted securities for one year may, under certain conditions, sell every three months, in brokerage transactions, a number of Shares that does not exceed the greater of 1.0% of a company’s outstanding common stock or the average weekly trading volume during the four calendar weeks prior to the sale. There is no limit on the amount of restricted securities that may be sold by a nonaffiliate after the owner has held the restricted securities for a period of two years. A sale under Rule 144 or under any other exemption from the Act, may have a depressive effect upon the price of the common stock in any market that may develop.

THE PRICE OF OUR COMMON STOCK COULD BE HIGHLY VOLATILE. Our common stock will be subject to price volatility, low volumes of trades and large spreads in bid and ask prices quoted by market makers. Due to the low volume of shares traded on any trading day, persons buying or selling in relatively small quantities may easily influence prices of our common stock. This low volume of trades could also cause the price of our stock to fluctuate greatly, with large percentage changes in price occurring in any trading day session. Holders of our common stock may also not be able to readily liquidate their investment or may be forced to sell at depressed prices due to low volume trading. If high spreads between the bid and ask prices of our common stock exist at the time of a purchase, the stock would have to appreciate substantially on a relative percentage basis for an investor to recoup their investment. Broad market fluctuations and general economic and political conditions may also adversely affect the market price of our common stock. No assurance can be given that an active market in our common stock will develop or be sustained. If an active market does not develop, holders of our common stock may be unable to readily sell the shares they hold or may not be able to sell their shares at all.

YOU MAY EXPERIENCE DILUTION OF YOUR OWNERSHIP INTERESTS DUE TO THE FUTURE ISSUANCE OF ADDITIONAL SHARES OF OUR COMMON STOCK WHICH COULD BE MATERIALLY ADVERSE TO THE VALUE OF OUR COMMON STOCK. As of July 31, 2023, we had 153,105,464 shares of our common stock issued and outstanding. We are authorized to issue up to 345,000,000 shares of common stock. Our Board of Directors may authorize the issuance of additional common or preferred shares under applicable state law without shareholder approval. We may also issue additional shares of our common stock or other securities that are convertible into or exercisable for common stock in connection with the hiring of personnel, future acquisitions, future private placements of our securities for capital raising purposes or for other business purposes, including the satisfaction of outstanding debt to affiliates and others. Future sales of substantial amounts of our common stock, or the perception that sales could occur, could have a material adverse effect on the price of our common stock. If we need to raise additional capital, it may be necessary for us to issue additional equity or convertible debt securities. If we issue equity or convertible debt securities, the net tangible book value per share may decrease, the percentage ownership of our current stockholders may be diluted and such equity securities may have rights, preferences or privileges senior or more advantageous to our common stockholders.

WE DO NOT ANTICIPATE PAYING CASH DIVIDENDS ON OUR COMMON STOCK. We do not anticipate paying any cash dividends on our common stock in the foreseeable future.

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WE MAY BE UNSUCCESSFUL IN FINDING A MERGER THAT CAN BE ACCOMPLISHED WITH POSITIVE LONG-TERM RESULTS. The business of selecting and entering into a merger is fraught with all kinds of issues. For instance, the business may need capital that is never achieved, the management is not capable of carrying the business forward successfully, the business plan is ill conceived, and not executed, or competitive factors cause business failure. There are many other factors in addition to these, as may have been discussed above in “Risk Factors” which could cause our company to fail and the investors capital will be at risk.

FAILURE TO ACHIEVE AND MAINTAIN INTERNAL CONTROLS IN ACCORDANCE WITH SECTIONS 302 AND 404(A) OF THE SARBANES-OXLEY ACT OF 2000 COULD HAVE A MATERIAL ADVERSE EFFECT ON OUR BUSINESS AND STOCK PRICE. If we fail to maintain adequate internal controls or fail to implement required new or improved controls, as such control standards are modified, supplemented or amended from time to time, we may not be able to assert that we can conclude on an ongoing basis that we have effective internal controls over financial reporting. Effective internal controls are necessary for us to produce reliable financial reports and are important in the prevention of financial fraud. If we cannot produce reliable financial reports or prevent fraud, our business and operating results could be harmed, investors could lose confidence in our reported financial information, and there could be a material adverse effect on our stock price.

Item 1B. Unresolved Staff Comments.

None.

Item 1C. Cybersecurity.

Risk Management and Strategy

As of July 31, 2024, the Company remained a shell company with no active operating business and no internal information-technology department. Management’s processes for assessing, identifying, and managing material risks from cybersecurity threats were therefore limited and primarily consisted of basic access controls, use of third-party service providers for accounting, legal, and filing functions, and management oversight of critical records and devices. The Company was not aware of any cybersecurity incident during fiscal 2024 that materially affected, or was reasonably likely to materially affect, the Company’s business strategy, results of operations, or financial condition.

Governance

The board of directors oversees the Company’s material business risks, including cybersecurity risk. Given the Company’s limited size and resources, the board has not established a separate cybersecurity committee. Day-to-day responsibility for cybersecurity-related matters resides with management, including the principal executive officer and principal financial officer, who coordinate with outside service providers as needed. The Company expects to reassess its cybersecurity governance structure if and when it acquires or develops an operating business.

Item 2. Properties.

~~On May~~The ~~26, 2020, the~~ Company’s principal ~~has~~executive ~~entered into a three year lease agreement for its~~ office ~~premises~~is ~~which~~located ~~terminates~~at onRoom ~~May 25~~805, ~~2023.~~West ~~The office~~Building ~~space~~4, isXintiandi ~~600~~Business ~~square~~Center, ~~meters.~~Gongshu ~~The~~District, ~~annual~~Hangzhou ~~rent is 480~~City,~~000RMB~~ ~~($72~~Zhejiang Province,~~000)~~ ~~which has been paid in advance for the initial year of the lease~~China. The ~~lease ended in May 2023 without renewal. The~~ Company ~~did~~does not ~~renew~~own ~~the~~any ~~lease~~real property. ~~Presently,~~Management ~~the~~believes ~~Company uses~~ the ~~offices~~current ofoffice ~~a Company~~arrangement ~~owned~~is byadequate ~~Mr.~~for ~~Su,~~ the Company’s present ~~Chief~~limited ~~Executive Officer and majority shareholder, on a rent free basis~~needs.

Item 3. Legal Proceedings.

There ~~are~~ ~~presently~~were no material pending legal proceedings to which the Company was ora ~~any~~party as of ~~its~~July ~~property~~31, is2024, ~~subject~~and, ~~or any material proceedings~~ to ~~which any~~the ~~director,~~knowledge ~~officer or affiliate~~ of ~~the Company~~management, ~~any~~no ~~owner~~such ofproceedings ~~record~~were orthreatened ~~beneficially~~against ~~of more than five percent of any class of voting securities is a party or has a material interest adverse to~~ the Company, ~~and~~except as nopreviously ~~such~~disclosed ~~proceedings~~in ~~are known to~~ the Company’s tofilings bewith ~~threatened~~the Securities orand ~~contemplated~~Exchange ~~against it~~Commission.

Item 4. Mine Safety Disclosures.

~~None~~Not applicable.

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PART II

Item 5. Market for Registrant’s Common Equity, Related ~~Stockholder~~Shareholder Matters and Issuer Purchases of Equity Securities.

Market Information

~~Our common~~As ~~stock~~of ~~currently~~the ~~trades~~date ~~sporadically~~of this Annual Report on ~~the~~Form ~~OTC~~10-~~Expert~~K, ~~Market~~there ~~under~~is no active quotation market for the ~~symbol~~Company’s ~~“CCYC~~common stock.” WeBecause ~~began~~the Company’s ~~trading~~shares onhave ~~OTC~~not ~~Markets in~~been ~~December~~actively ~~2018.~~quoted ~~Any~~and ~~such~~any ~~trades~~prior ~~can~~trading ~~not~~was besporadic ~~used~~and aninfrequent, ~~indication~~no ofmarket value ofis ascribed to such shares ~~or the Company~~.

The OTC-Pink is a quotation system and not a national securities exchange, and many companies have experienced limited liquidity when traded through this quotation system. Any trading has been sporadic and there has been no meaningful trading volume. Any investment in our Company should be considered extremely risky as we are a “shell company,” as defined under the Act, with no business operations and no revenues.Holders

~~Common~~As of April 28, 2026, the Company had 8 holders of record of its common ~~Stock:~~stock. The Company had 153,105,464 shares of common stock outstanding as of that date.

The Company is authorized by its Articles of Incorporation, as amended, to issue 345,000,000 shares of Common Stock and 153,105,464 shares of Common Stock issued and outstanding. As of July 31, 2023, there were 5 holders of record of the Common Stock.Dividends

~~Preferred~~The Company has never declared or paid cash dividends on its common ~~Stock:~~stock and does not anticipate paying cash dividends in the foreseeable future.

Our Articles of Incorporation do not allow for the issuance of preferred stock.

Dividend Policy

The Company has not declared or paid any cash dividends on its Common Stock and does not intend to declare or pay any cash dividend in the foreseeable future. The payment of dividends, if any, is within the discretion of the Board of Directors and will depend on the Company’s earnings, if any, its capital requirements and financial condition and such other factors as the Board of Directors may consider.

Securities Authorized for Issuance under Equity Compensation Plans

The Company does not have any equity compensation plans or any individual compensation arrangements with respect to its Common Stock or Preferred Stock. The issuance of any of our Common Stock or Preferred Stock is within the discretion of our Board of Directors, which has the power to issue any or all of our authorized but unissued shares without stockholder approval.

Recent Sales of Unregistered Securities

~~None~~The Company did not issue any unregistered securities during the fiscal year ended July 31, 2024. The Company is aware that subsequent shareholder-level transfers were reflected on the shareholder records after July 31, 2024, but no shares were issued by the Company during fiscal 2024. The total number of outstanding shares remained 153,105,464.

Issuer Purchases of Equity Securities

None.

Item 6. ~~Selected Financial Data~~[Reserved].

As a “smaller reporting company~~” as defined by Rule 12b-2 of the Exchange Act~~, the Company is not required to provide the ~~this~~ information otherwise required by Item 301 of Regulation S-K.

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

You should read the following discussion together with our financial statements and the related notes included elsewhere in this Annual Report. This discussion contains forward-looking statements, which involve risks and uncertainties. Our actual results may differ materially from those we currently anticipate as a result of many factors.Overview

14During the fiscal year ended July 31, 2024, the Company had no operating revenue and remained a shell company. The Company’s prior China operations had ceased in June 2023 in connection with the change in control, and the former China subsidiaries were transferred effective June 30, 2023. Throughout fiscal 2024, the Company’s principal activities consisted of maintaining its corporate existence, satisfying public-company compliance obligations, and evaluating potential business opportunities and strategic transactions.

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Forward Looking Statements

Some of the information in this section contains forward-looking statements that involve substantial risks and uncertainties. You can identify these statements by forward-looking words such as “may,” “will,” “expect,” “anticipate,” “believe,” “estimate” and “continue,” or similar words. You should read statements that contain these words carefully because they:

● discuss our future expectations; ● contain projections of our future results of operations or of our financial condition; and ● state other “forward-looking” information.

We believe it is important to communicate our expectations. However, there may be events in the future that we are not able to accurately predict or over which we have no control. Our actual results and the timing of certain events could differ materially from those anticipated in these forward-looking statements as a result of certain factors.

Description of Business

Brilliant N.E.V. Corp. (formerly Clancy Corp.) (“The Company”) was incorporated on March 22, 2016 under the laws of the State of Nevada, USA. The Company initially was formed for the purpose of producing and selling handcrafted soaps.

On April 13, 2020, the Company registered Shanghai Clancy Enterprise Management Co., Ltd. (Shanghai Clancy) as a wholly foreign-owned entity and as a wholly owned subsidiary in Shanghai, China. Shanghai Clancy had no business activity from inception through June 30, 2023. On April 24, 2020, Shanghai Clancy registered Beijing Clancy Information Technology Co., Ltd. (Beijing Clancy) in Beijing as its wholly-owned subsidiary and a second tier subsidiary of the Company.

From August 1, 2020 to April 30, 2021, the Company business centered on providing IT services to a small number of clients. In May 2021, the Company ceased its IT services and re-focused its operations to provide marketing services to small and median sized businesses. Clancy was a product marketing consulting firm that provides product marketing consulting services to clients. The Company developed marketing programs and strategies in line with customer needs. Our marketing programs was designed to provide clients with detailed analysis on the market data in their industry, including historical data. We also assisted clients expand their marketing communication channels including but not limited to advertisements in the business journals, electronical communication tools such as WeChat marketing programs, etc. We charge an agreed upon fee based on technical difficulties and the marketing reach of the programs. During the fourth quarter of fiscal 2022, we terminated this business.

In June 2023, the Company’s former major shareholder and sole director Mr. Xiangying Meng, entered into a stock purchase agreement (SPA) with Mr. Guangzhe Su. Pursuant to the SPA, Mr. Guangzhe Su became the major shareholder and the Company’s CEO. Due to the ownership change and pursuant to the SPA, the Company ceased the operations of its China subsidiaries.

In October 2023, the Company, Shanghai Clancy, and Honghsna Yuanda Limited (a company owned by Mr. Meng, the current Chief Financial Officer of the Company) entered an agreement to assign, transfer and convey all of its rights, titles and interest in and to Shanghai Clancy, along with its ownership of Beijing Clancy, to Hongshan Yuanda Limited. The effective date of this transfer is June 30, 2023. As of the date of transfer, Shanghai Clancy had no operations and no assets and all liabilities were assigned to the transferee.

Results of Operations

~~Revenues~~The Company did not generate revenue during fiscal 2024 or fiscal 2023. Operating expenses for fiscal 2024 consisted primarily of professional fees, filing and compliance costs, and other general and administrative expenses associated with maintaining the Company’s status as a public reporting company. Operating expenses for fiscal 2023 included similar public-company costs, together with expenses associated with the Company’s former China operations prior to their cessation and transfer.

~~For~~The Company reported a net loss for fiscal 2024 of $35,871, compared ~~the~~to ~~years~~a ~~ended~~net ~~July~~loss 31of $292,590 for fiscal 2023. ~~and~~The ~~2022~~fiscal 2023 net loss included $240,219 of loss from discontinued operations related to the Company’s ~~had~~former noChina ~~revenues~~subsidiaries. The decrease in net loss in fiscal 2024 was primarily attributable to the absence of prior-year China operating activity, partially offset by continued public-company, compliance, and administrative expenses.

~~Costs of Revenues~~6

For the years ended July 31, 2023 and 2022, the Company had no cost of goods sold as we did not have any revenues for the respective periods.

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Operating Expenses

For the year ended July 31, 2023, the Company had total operating expenses of $292,590, including operating expenses of $52,371 from continuing operations and $240,219 from discontinued operations. The operating expenses of $52,371 from continuing operations consist of $38,200 professional fees, $0 of research and development and $14,171 of general and administrative expenses. The operating expenses of $240,519 from discontinued operations consist of $0 of professional fees, $53,160 in research and development (R&D), $187,109 in general and administrative expenses and interest income of $50.

For the year ended July 31, 2022, the Company had total operating expenses of $380,650, including operating expenses of $41,734 from continuing operations and $338,989 from discontinued operations. The operating expenses of $41,734 from continuing operations consist of $26,750 professional fees, $0 of research and development and $14,984 of general and administrative expenses. The $operating expenses of $338,916 from discontinued operations consists of $0 of professional fees, $258,764 in research and development (R&D), $80,225 in general and administrative expenses and interest income of $73.

Net Loss

For the fiscal year ended July 31, 2023 and 2022, the Company had net losses of $292,590 and $380,650, respectively, for the reasons discussed above.

Liquidity and Capital Resources

As of July 31, ~~2023~~2024, the Company had ~~working~~cash ~~capital~~and ~~deficit~~cash equivalents of $57,~~401~~ 972, compared ~~with~~to ~~a working capital deficit of~~ $~~561~~1,~~224~~302 ~~for~~as ~~the~~of ~~prior fiscal~~July ~~year~~31, ~~end~~2023. The ~~significant~~Company ~~change~~had inlimited working capital ~~deficit~~and ishad ~~primarily~~not ~~due~~generated torevenue ~~the~~from ~~discontinuation~~operations. ofThe ~~the~~audited financial ~~Company’s~~statements ~~China~~included ~~operations after~~in ~~the~~this ~~ownership~~report ~~change~~have atbeen prepared assuming the ~~end~~Company ofwill ~~June~~continue ~~2023~~as a going concern.

~~The~~Net cash used in operating activities during fiscal 2024 was $38,093 and was primarily attributable to the Company’s ~~can~~net ~~provide~~loss noand ~~assurances~~changes in ~~that~~working itcapital. ~~can~~The ~~continue~~Company todid ~~satisfy~~not ~~its~~have material investing activities during fiscal 2024. Net cash ~~requirements~~provided ~~for~~by atfinancing ~~least~~activities during fiscal 2024 was $44,763, consisting primarily of advances from related parties used to fund the ~~next~~Company’s reporting, ~~twelve~~compliance, ~~months~~and administrative expenses.

The Company’s ~~following~~ability isto acontinue ~~summary~~as ofa ~~the~~going ~~Company’s~~concern ~~cash~~is ~~flows~~dependent ~~from~~upon ~~operating~~its ~~and~~ability ~~financing~~to ~~activities~~raise ~~for~~additional ~~the~~capital, ~~years~~obtain ~~ended~~continued ~~July~~related-party 31support, reduce ~~2023~~expenses, and ultimately complete a business combination, acquisition, or other strategic transaction. There can be no assurance ~~2022:~~ that the Company will be successful in obtaining additional funding or completing such a transaction.

	Fiscal Year Ended July 31, 2023			Fiscal Year Ended July 31, 2022
Net Cash Used From Operating Activities – Continuing Operations	$	(69,278	)	$	(37,154	)
Net Cash Used From Operating Activities – Discontinued Operations		133,483			(333,196	)
Net Cash Provided (adjustment) From Financing Activities – Continuing Operations	$	(110,837	)	$	30,000
Net Cash Provided From Financing Activities – Discontinued Operations		-			306,327
Effect of exchange rate change on cash	$	46,499		$	(841	)
Net Change in Cash	$	(133	)	$	(34,864	)

Critical Accounting Policies and Estimates

~~Operating~~The preparation of financial statements in conformity with U.S. GAAP ~~Activities~~requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses and the disclosure of contingent assets and liabilities. The Company’s significant accounting policies are described in the notes to the audited financial statements included in this report. Management believes the policies requiring the most significant judgments and estimates relate to going concern, income taxes, valuation allowances, related-party transactions, and any accruals for contingent liabilities.

During the year ended July 31, 2023, the Company had a net loss of $292,590 and after adjusting for lease expenses, increases in prepaid expenses, accounts payable and the discontinued operation adjustment, resulted in net cash of $64,205, of which $69,278 used from continuing operations and $133,483 provided from discontinued operations. By comparison, during the year ended July 31, 2022, the Company had used $370,350 in operating activities, $37,154 used in continuing operations and $333,196 used in discontinued operations.

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Financing Activities

During the year ended July 31, 2023, due to the ownership change, the Company received debt adjustment of $110,837 from the advances from the related party, resulting in the debt reduction of $110,837 in financing activities for the period. By comparison, during the year ended July 31, 2022, the Company received $30,000 of proceeds from continuing operations and $306,327 from discontinued operations. The significant change in financing activities was due to the ownership change in June 2023 and the discontinuation of its China operations.

Our financial statements reflect the fact that we do not have any sufficient revenue to cover expenses. We are at present under-capitalized. The Company is dependent upon the receipt of capital investment or other financing to fund its ongoing operations and to execute its business plan of seeking a combination with a private operating company. In addition, the Company is dependent upon certain related parties to provide continued funding and capital resources. If continued funding and capital resources are unavailable at reasonable terms, the Company may not be able to implement its plan of operations.

Our auditors have issued a going concern opinion on our financial statements.

Basis of presentation

The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America. The Company’s yearend is July 31.

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles 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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Cash and Cash Equivalents

The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company had $1,302 in cash and equivalents as of July 31, 2023 and $1,435 as of July 31, 2022.

Prepaid Expenses

Prepaid Expenses are recorded at fair market value. The Company had $0 in prepaid expenses as of July 31, 2023 and $212 as of July 31, 2022.

Depreciation, Amortization, and Capitalization

The Company records depreciation and amortization when appropriate using straight-line balance method over the estimated useful life of the assets. The Company establishes capitalization policy of its assets based on dollar amount that are more than $1,000 in value or if it’s estimated useful life exceeds one year. We estimate that the useful life of our equipment is 3 years. Expenditures for maintenance and repairs are charged to expense as incurred. Additions, major renewals and replacements that increase the property’s useful life are capitalized. Property sold or retired, together with the related accumulated depreciation is removed from the appropriated accounts and the resultant gain or loss is included in net income.

Income Taxes

Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.

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Fair Value of Financial Instruments

ASC topic 820 “Fair Value Measurements and Disclosures” establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market.

These tiers include:

Level 1:	defined as observable inputs such as quoted prices in active markets;
Level 2:	defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and
Level 3:	defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

The carrying value of cash and the Company’s loan from shareholder approximates its fair value due to their short-term maturity.

Revenue Recognition

The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts. The core principle of ASC 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract(s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. Specifically, Section 606-10-50 requires an entity to provide information about: a. Revenue recognized from contracts with customers, including the disaggregation of revenue into appropriate categories; b. Contract balances, including the opening and closing balances of receivables, contract assets, and contract liabilities; c. Performance obligations, including when the entity typically satisfies its performance obligations and the transaction price that is allocated to the remaining performance obligations in a contract; d. Significant judgments, and changes in judgments, made in applying the requirements to those contracts.

Basic Income (Loss) Per Share

The Company computes income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of July 31, 2023, there were no potentially dilutive debt or equity instruments issued or outstanding.

Comprehensive Income

Comprehensive income is defined as all changes in stockholders’ equity (deficit), exclusive of transactions with owners, such as capital investments. Comprehensive income includes net income or loss, changes in certain assets and liabilities that are reported directly in equity such as translation adjustments on investments in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. For the year ended July 31, 2023, the comprehensive loss was $246,091 which contains the foreign currency translation gain of $46,499.

Stock-Based Compensation

Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options.

Recent Accounting Pronouncements

We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company.

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Off-Balance Sheet Arrangements

~~The~~ As of July 31, 2024, the Company ~~does~~did not have any off-balance sheet arrangements that have had, or are reasonably likely to have, a current or future material effect on the Company’s financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures, or capital resources ~~that is material to investors~~.

Contractual Obligations

As a “smaller reporting company” as defined by Rule 12b-2 of the Exchange Act, the Company is not required to provide this information.

Item 7A. Quantitative and Qualitative Disclosures About Market Risk.

As a “smaller reporting company~~” as defined by Rule 12b-2 of the Exchange Act~~, the Company is not required to provide the information required by this ~~information~~Item.

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Item 8. Financial Statements and Supplementary Data.

Index to Financial Statements

Report of Independent Registered Public Accounting Firm	F-1
Balance Sheets as of July 31, 2024 and July 31, 2023	F-3
Statements of Operations for the Years Ended July 31, 2024 and 2023	F-4
Statements of Shareholders’ Deficit for the Years Ended July 31, 2024 and 2023	F-5
Statements of Cash Flows for the Years Ended July 31, 2024 and 2023	F-6
Notes to Financial Statements	F-7

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Report of the Independent Registered Public Accounting Firm

To the shareholders and the board of directors of

Brilliant N.E.V. Corp.

Opinion on the Financial Statements

We have audited the accompanying balance sheets of Brilliant N.E.V. Corp. as of July 31, 2024, and the related statements of operations, stockholders’ equity, and cash flows for the year ended July 31, 2024, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of July 31, 2024, and the results of its operations and its cash flows for the year ended July 31, 2024, in conformity with accounting principles generally accepted in the United States of America.

Going Concern

The accompanying financial statements have been prepared assuming the Company will continue as a going concern as disclosed in Note 2 to the financial statement, the Company incurred a net loss of $(35,871) and an accumulated deficit of $(308,710) for the year ended July 31, 2024. The continuation of the Company as a going concern is dependent upon ability to raise additional capital and implement its business plan. Management believes the existing shareholders or external fund providers will provide the additional cash to meet the Company’s obligations as they become due.

These factors raise substantial doubt about the Company ability to continue as a going concern. These financial statements do not include any adjustments that might result from the outcome of the uncertainty.

Basis for Opinion

These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

Critical Audit Matters

Critical audit matters are matters arising from the current period audit of the financial statements that were communicated or required to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. Communication of critical audit matters does not alter in any way our opinion on the financial statements taken as a whole and we are not, by communicating the critical audit matters, providing separate opinions on the critical audit matter or on the accounts or disclosures to which they relate.

/S/ Boladale Lawal
Boladale Lawal & CO (PCAOB ID 6993)

We have served as the Company’s auditor since 2026

Lagos, Nigeria

April 28, 2026

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Stockholders of

Brilliant N.E.V Corp.

Opinion on the Financial Statements

We have audited the accompanying balance sheets of Brilliant N.E.V Corp. (the Company) as of ~~July31~~July 31, 2023 and 2022, and the related statements of operations, changes in stockholders’ deficit, and cash flows for the years then ended, and the related notes (collectively referred to as the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of July 31, 2023 and 2022, and the results of its operations and its cash flows for the years then ended, in conformity with accounting principles generally accepted in the United States of America.

Going Concern Matter

As discussed in Note 2 to the financial statements, as of July 31, 2023, the Company experienced an accumulated deficit of $272,839 and suffered from continuous losses for a reasonable period of time, which is considered to be one year from the issuance date of the financial statements. These matters raise substantial doubt about the Company's ability to continue as a going concern. Management’s plans in regard to this matter are described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Basis for Opinion

These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

Critical Audit Matters

Critical audit matters are matters arising from the current period audit of the consolidated financial statements that were communicated or required to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the consolidated financial statements and (2) involved our especially challenging, subjective, or complex judgments. We determined that there are no critical audit matters.

/s/ RH CPA

We have served as the Company’s auditor since 2023.

6398

Bayside, New York

November 13, 2023

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BRILLIANT N.E.V CORP. (FORMERLY CLANCY CORP.)

CONSOLIDATED BALANCE SHEETS

ASSETS	July 31, 2023			July 31, 2022
CURRENT ASSETS:
Cash and cash equivalents	$	1,302		$	1,435
Prepaid expenses		-			212
Current assets of discontinued operations		-			18,076
Total current assets		1,302			19,723
OTHER ASSETS
Operating lease right of use – building		-			1,380
Non-current assets of discontinued operations		-			61,687
TOTAL ASSETS	$	1,302		$	82,790
LIABILITIES AND STOCKHOLDERS’ DEFICIT
CURRENT LIABILITIES:
Accounts payable	$	2,321		$	-
Advances - related party		4,382			115,219
Operating lease liability – current		-			20,820
Liabilities of discontinued operations		-			444,908
TOTAL CURRENT LIABILITIES		6,703			580,947
TOTAL LIABILITIES		6,703			580,947
Commitments and Contingencies		-			-
STOCKHOLDERS’ DEFICIT
Common Stock, 0.001 par value, authorized 345,000,000 shares, 153,105,464 shares issued and outstanding as of July 31, 2023 and July 31, 2022		153,105			153,105
Additional paid in capital		114,333			213,251
Accumulated other comprehensive income (loss)		-			12,058
Accumulated deficit		(272,839	)		(876,571	)
TOTAL STOCKHOLDERS’ DEFICIT		(5,401	)		(498,157	)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$	1,302		$	82,790

See accompanying notes to the consolidated financial statements.

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BRILLIANT N.E.V ~~CORP~~. ~~(FORMERLY CLANCY~~ CORP.)

~~CONSOLIDATED STATEMENTS~~BALANCE ~~OF OPERATIONS~~SHEETS

	For the years ended July 31,
	July 31, 2024			July 31, 2023
	2023			2022
ASSETS
Revenues	$	-		$	-
CURRENT ASSETS
Cost of goods sold		-			-
Cash and equivalents	$	7,972		$	1,302
Gross profit (loss)		-			-
Total current assets		7,972			1,302
EXPENSES
TOTAL ASSETS	$	7,972		$	1,302
Professional fees		38,200			26,750
LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT)
General and administrative Expenses		14,171			14,984
CURRENT LIABILITIES
TOTAL OPERATING EXPENSES		52,371			41,734
Accounts payable		99			2,321
LOSS FROM CONTINUING OPERATIONS		(52,371	)		(41,734	)
Loans - the related party		49,145			4,382
LOSS FROM DISCONTINUED OPERATIONS		(240,219	)		(338,916	)
Total current liabilities		49,244			6,703
Net loss before tax		(292,590	)		(380,650	)
TOTAL LIABILITIES		49,244			6,703
Provision for income taxes		-			-
COMMITMENTS AND CONTINGENCIES		-			-
NET LOSS	$	(292,590	)	$	(380,650	)
SHAREHOLDERS’ EQUITY (DEFICIT)
OTHER COMPREHENSIVE ITEM
Common stock, $0.001 par value; authorized 345,000,000 shares; 153,105,464 shares issued and outstanding at July 31, 2024 and 2023		153,105			153,105
Foreign currency translation gain (loss)		46,499			14,547
Additional paid-in capital		114,333			114,333
COMPREHENSIVE LOSS	$	(246,091	)	$	(366,103	)
Accumulated deficit		(308,710	)		(272,839	)
NET LOSS PER COMMON SHARE FROM CONTINUING OPERATIONS - BASIC & DILUTED	$	(0.00	)	$	(0.00	)
TOTAL EQUITY (DEFICIT)		(41,272	)		(5,401	)
NET LOSS PER COMMON SHARE FROM DISCONTINUED OPERATIONS - BASIC & DILUTED	$	(0.00	)	$	(0.00	)
TOTAL LIABILITIES AND EQUITY (DEFICIT)	$	7,972		$	1,302
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC & DILUTED		153,105,464			153,105,464

See accompanying notes to the ~~consolidated~~ financial statements.

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BRILLIANT N.E.V ~~CORP~~. ~~(FORMERLY CLANCY~~ CORP.)

~~CONSOLIDATED STATEMENT~~STATEMENTS OF ~~CHANGES IN SHAREHOLDERS’ DEFICIT~~OPERATIONS

For the years ended July 31, 2023 and 2022


	For the year ended July 31,
	2024			2023
Revenues	$	-		$	-
Cost of goods sold		-			-
Gross profit (loss)		-			-

EXPENSES
Professional fees		28,775			38,200
General and administrative Expenses		7,096			14,171
TOTAL OPERATING EXPENSES		35,871			52,371

LOSS FROM CONTINUING OPERATIONS		(35,871	)		(52,371	)
LOSS FROM DISCONTINUED OPERATIONS		-			(240,219	)
Net loss before tax		(35,871	)		(292,590	)
Provision for income taxes		-			-
NET LOSS		(35,871	)		(292,590	)
OTHER COMPREHENSIVE ITEM
Foreign currency translation gain (loss)		-			46,499
COMPREHENSIVE LOSS		(35,871	)		(246,091	)
NET LOSS PER COMMON SHARE FROM CONTINUING OPERATIONS - BASIC & DILUTED		0.00			(0.00	)

NET LOSS PER COMMON SHARE FROM DISCONTINUED OPERATIONS - BASIC & DILUTED	$	0.00		$	(0.00	)

WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC & DILUTED		153,105,464			153,105,464

								Accumulated
					Additional			Other
	Common Stock				Paid in			Comprehensive			Accumulated
	Shares		Amount		Capital			Income(Loss)			Deficit			TOTAL
Balance, July 31, 2021		153,105,464	$	153,105	$	213,251		$	(2,489	)	$	(495,920	)	$	(132,053	)
Currency translation		-		-		-			14,547			-			14,547
Net loss – discontinued operations		-		-		-			-			(338,916	)		(338,916	)
Net Loss – continuing operations		-		-		-			-			(41,734	)		(41,734	)
Balance, July 31, 2022		153,105,464	$	153,105	$	213,251		$	12,058		$	(876,571	)	$	(498,157	)
Adjustments from discontinued operations		-		-		(98,918	)		(58,557	)		896,322			738,847
Currency translation									46,499						46,499
Net loss – discontinued operations		-		-		-			-			(240,219	)		(240,219	)
Net loss – continuing operations												(52,371	)		(52,371	)
Balance, July 31, 2023		153,105,464	$	153,105	$	114,333		$	-		$	(272,839	)	$	(5,401	)

See accompanying notes to the financial statements.

See accompanying notes to the consolidated financial statements.

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BRILLIANT N.E.V ~~CORP~~. ~~(FORMERLY CLANCY~~ CORP.)

CONSOLIDATED ~~STATEMENTS~~ STATEMENT OF ~~CASH~~CHANGES ~~FLOWS~~IN SHAREHOLDERS’ DEFICIT

	For the years ended July 31,
	2023			2022
OPERATING ACTIVITIES
Net loss from continuing operations	$	(52,371	)	$	(41,734	)
Net loss from discontinued operations		(240,219	)		(338,916	)
Adjustments to reconcile net cash used in operating activities:
Right-of-use/lease liability adjustments		(19,440	)		6,480
Decrease in assets:
Change in prepaid expenses		212			188
Changes in deposit		-			-
Increase in liabilities:
Accounts payable		2,321			(2,088	)
Increase in discontinued operations		373,702			5,720
Net cash provided (used) in continuing operation activities		(69,278	)		(37,154	)
Net cash provided (used) in discontinued operation activities		133,483			(333,196	)
FINANCING ACTIVITIES:
Advances (debt adjustment)from related party - continuing operation		(110,837	)		30,000
Advances from related party - discontinued operation		-			306,327
Total Net Cash Provided (used) by Financing Activities		(110,837	)		336,327
EFFECT OF EXCHANGE RATE CHANGE ON CASH		46,499			(841	)
NET INCREASE (DECREASE) IN CASH		(133	)		(34,864	)
CASH AT BEGINNING OF YEAR		1,435			54,375
CASH AT END OF YEAR – CONTINNUING OPERATIONS		1,032			1,435
CASH AT END OF YEAR – DISCONTINUED OPERATIONS	$	-		$	18,076
Supplemental Cash flow Information:
Interest Paid	$	-		$	-
Taxes Paid	$	-		$	-
Supplemental Disclosure of Non Cash Lease Activity:
Recognition of Right of use asset	$	-		$	-
Recognition of Lease liability	$	-		$	-

For the years ended July 31, 2024 and 2023

See accompanying notes to the consolidated financial statements.


	Common Stock				Additional Paid in			Accumulated Other			Accumulated
	Share		Amount		Capital			Comprehensive Loss			Deficit			TOTAL
Balance, July 31, 2022		153,105,464	$	153,105	$	213,251		$	12,058		$	(876,571	)	$	(498,157	)
Adjustments from discontinued operations		-		-		(98,918	)		(58,557	)		896,322			738,847
Currency translation		-		-		-			46,499			-			46,499
Net loss – discontinued operations		-		-		-			-			(240,219	)		(240,219	)
Net Loss – continuing operations		-		-		-			-			(52,371	)		(52,371	)
Balance, July 31, 2023		153,105,464	$	153,105	$	114,333		$	-		$	(272,839	)	$	(5,401	)
Net loss		-		-		-			-			(35,871	)		(35,871	)
Balance, July 31, 2024		153,105,464	$	153,105	$	114,333		$	-		$	(308,710	)	$	(41,272	)

See accompanying notes to the financial statements.

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BRILLIANT N.E.V ~~CORP~~. ~~(FORMERLY CLANCY~~ CORP.)

~~NOTES TO~~STATEMENTS ~~THE~~OF ~~CONSOLIDATED~~CASH ~~FINANCIAL STATEMENTS~~FLOWS

JULY 31, 2023


	For the year ended July 31,
	2024			2023

Operating activities
Net loss from continuing operations	$	(35,871	)	$	(52,371	)
Net loss from discontinued operations		-			(240,219	)
Adjustments to reconcile net cash used in operating activities:
Right-of-use/lease liability adjustments		-			(19,440	)
Change in assets and liabilities:
Prepaid expenses		-			212
Accounts payable		(2,222	)		2,321
Increase in discontinued operations		-			373,702
Net cash used in operating activities		(38,093	)		(69,278	)
Net cash provided in discontinued operation activities		-			133,483

Financing activities
Loans from related party		44,763			(110,837	)
Total net cash provided by financing activities		44,763			(110,837	)

Effect of currency exchange rate change		-			46,499
Net increase in cash		6,670			(133	)

Cash at beginning of period	$	1,302		$	1,435

Cash at end of the period	$	7,972		$	1,302

~~NOTE 1 – ORGANIZATION~~See ~~AND~~accompanying ~~NATURE~~notes OFto ~~BUSINESS~~the financial statements.

Brilliant N.E.V. Corp. (formerly Clancy Corp.) (“Company”) was incorporated on March 22, 2016 under the laws of the State of Nevada, USA. The Company initially was formed for the purpose of producing and selling handcrafted soaps. Except where content requires, the Company includes its subsidiaries.

On January 15, 2020, the Company filed a Certificate of Amendment to Articles of Incorporation with the Nevada Secretary of State which effectuated the following corporate actions:

● the forward split of the Company’s issued and outstanding common stock, $0.001 par value, on thirty (30) post-split shares for a one (1) pre-split share basis applicable to stockholders of record as of January 2, 2020, and

● The increase of the Company’s authorized shares of common stock, $0.001 par value, from 75,000,000 to 345,000,000.

The above corporate actions were adopted by written consent of our sole Director on January 2, 2020, and the sole Director recommended the Corporate Actions be presented to our shareholders for approval. On January 3, 2020, our majority stockholder, holding 64.4% of our outstanding voting securities executed written consent approving the stated corporate actions. For purposes of the forward stock split described above, the sole Director also set January 2, 2020 as the record date of such action.

On March 31, 2020, a change of control occurred with respect to the Company. Pursuant to a Stock Purchase Agreement entered into by and among Clancy Corp, Gaoyang Liu (“Seller”), and Xiangying Meng (“Buyer”), Seller assigned, transferred and conveyed to Buyer 60,000,000 shares of common stock of Company (“Common Stock”), which represents 64.4% of the total issued and outstanding shares of the Company, for the sum of $285,000. In addition, Seller assigned his rights and interest to outstanding loans made by Seller to the Company in the amount of $55,609 for the face value of such loans. Mr. Meng owned 67,500,000 shares of common stock of the Company. In connection with the transaction, Mr. Liu, the then sole officer and director of the Company resigned in all officer and director capacities from the Company and Mr. Meng was appointed Chief Executive Officer and Chief Financial Officer of the Company. In addition, Mr. Meng was appointed the sole director of the Company.

Brilliant N.E.V. Corp. (formerly Clancy Corp.) registered a wholly foreign-owned entity in Shanghai, China on April 13, 2020 named Shanghai Clancy Enterprise Management Co., Ltd. (Shanghai Clancy). Shanghai Clancy registered a wholly-owned subsidiary in Beijing on April 24, 2020. Its name is Beijing Clancy Information Technology Co., Ltd. (Beijing Clancy). The main business scope is technology development, transfer, consultation, services and promotion.

On July 6, 2020, the Nevada Secretary of State approved the Company’s Certificate of Amendment to Articles of Incorporation with which effectuated the following corporate action:

● the reverse split of the Company’s issued and outstanding common stock, $0.001 par value, on thirty (30) pre-split shares to one (1) post-split share basis. Fractional shares resulting from the action will be rounded up to the nearest whole share.

The above corporate action was adopted by written consent of our sole Director on June 11, 2020, and the sole Director recommended the corporate action be presented to our shareholders for approval. For purposes of the reverse stock split described above, the sole Director also set June 12, 2020 as the record date of such action. On June 12, 2020, our majority stockholder, holding 91.88% of our outstanding voting securities, executed written consent in lieu of a shareholder meeting approving the corporate action.

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~~All shares~~BRILLIANT ~~disclosed~~N.E.V. ~~in the financial statements and notes to the financial statements have been retroactively adjusted for the 30 for 1 reverse split~~CORP.

~~From August~~NOTES 1,TO ~~2020~~FINANCIAL to April 30, 2021, the Company business centered on providing IT services to a small number of clients. Beginning in May 2021, the Company terminated its IT services and re-focused its business operations to providing business consulting services to small and median sized businesses. Management believes their prior business experience will enable them to assist small and medium sized companies improve their operating efficiencies. The Company will charge its clients based on their performance. Management believes the new business model will reduce internal overhead costs and potentially provide a larger market for its services.STATEMENTS

~~In June~~NOTE ~~2023,~~1 ~~the~~– ~~Company’s~~ORGANIZATION ~~former~~AND ~~major shareholder and sole director Mr. Xiangying Meng and other shareholders, entered into a stock purchase~~NATURE ~~agreement~~OF (SPA) with Mr. Guangzhe Su. Pursuant to the SPA, Mr. Guangzhe Su became the major shareholder and the Company’s CEO. Due to the ownership change and pursuant to the SPA, the Company ceased the operations of its China subsidiaries.BUSINESS

~~In July 2023, based on the majority shareholders’ approval, the Company changed its name from Clancy Corp. to~~ Brilliant N.E.V. Corp. ~~The Company~~(formerly ~~emended~~Clancy ~~its~~Corp.) ~~Articles of Incorporation with~~ (the ~~Nevada Secretary of State to effect the name change and also has filed an Issuer~~ “Company~~-Related~~”) was ~~Action~~incorporated ~~Notification~~in ~~Form with FIBRA to reflect~~ the ~~change~~State ~~and~~of ~~applied~~Nevada ~~for~~on aMarch ~~new~~22, ~~stock symbol~~2016.

~~NOTE~~In April 2020, the Company established Shanghai Clancy Enterprise Management 2Co., –Ltd. ~~GOING~~(“Shanghai ~~CONCERN~~Clancy”), a wholly foreign-owned enterprise in Shanghai, China. Shanghai Clancy subsequently established Beijing Clancy Information Technology Co., Ltd. (“Beijing Clancy”) as its wholly owned subsidiary in Beijing, China.

The Company previously operated in China through its subsidiaries. ~~accompanying~~In ~~consolidated~~June ~~financial~~2023, ~~statements~~in ~~have~~connection ~~been~~with ~~prepared~~a ~~assuming~~change ~~that~~in control of the Company ~~will~~pursuant ~~continue~~to as a ~~going~~stock ~~concern.~~purchase ~~For~~agreement, the Company ceased the operations ~~year~~of ~~ended~~its ~~July~~China ~~31,~~subsidiaries. In October 2023, the Company, ~~incurred~~Shanghai ~~loss~~Clancy, ~~an accumulated deficit~~ and ~~experienced~~Hongshan ~~negative~~Yuanda ~~cash~~Limited ~~flow~~entered ~~from~~into ~~operations.~~an ~~These~~agreement pursuant ~~conditions~~to ~~raise~~which ~~substantial~~all ~~doubt~~of ~~about~~ the Company’s ~~ability~~rights, title and interest in and to ~~continue~~Shanghai asClancy, aincluding ~~going~~its ~~concern.~~ownership ~~The~~of ~~consolidated~~Beijing ~~financial~~Clancy, ~~statements do~~were ~~not~~transferred ~~include~~to ~~any~~Hongshan ~~adjustments~~Yuanda ~~that~~Limited, ~~might~~effective ~~result~~as ~~from~~of June 30, 2023. As of the ~~outcome~~effective date of ~~this~~the ~~uncertainty~~transfer, Shanghai Clancy had no operations and no assets, and all liabilities were assigned to the transferee.

~~The Covid-19~~In ~~pandemic~~July ~~presents~~2023, ~~novel~~the ~~challenges~~Company ~~and~~changed aits ~~chaotic~~name ~~business~~from ~~environment~~Clancy ~~globally~~Corp. ~~The duration and intensity of the impact of the Covid-19~~ to ~~business entities differ geographically~~Brilliant N.E.V. ~~Covid-19 has a limited impact on the Company’s activities The impact on the Company’s result of operation and the financial statements was immaterial as of July 31, 2023~~Corp.

~~NOTE~~As of July 31, 2024, the Company had not commenced any new business ~~3 – SUMMARY~~operations OFand ~~SIGNIFICANT~~remained ~~ACCOUNTING~~a ~~POLICIES~~shell company, with no or only nominal operations and nominal assets other than cash.

BASIS OF PRESENTATION.

The consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and include the accounts of Brilliant N.E.V Corp. (formerly Clancy Corp.)and its wholly owned subsidiaries. All material intercompany balances and transactions have been eliminated in consolidation.

Fiscal year end

The Company’s year end is July 31st.

Use of Estimates

Income Taxes

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~~Revenue Recognition~~NOTE 2 – GOING CONCERN

The ~~Company~~ ~~recognizes~~accompanying ~~revenue~~audited infinancial ~~accordance~~statements ~~with~~have ~~ASC~~been ~~606,~~prepared ~~Revenue~~assuming that ~~from~~the ~~Contracts.~~Company ~~The~~will ~~core~~continue ~~principle~~as ofa ~~ASC~~going ~~606~~concern. isFor ~~that~~the anyear ~~entity~~ended ~~recognizes revenue~~July to31, ~~depict~~2024, the ~~transfer~~Company ofincurred ~~promised~~a ~~goods~~net orloss, ~~services~~had ~~to customers in~~ an ~~amount that reflects the consideration to which the entity~~accumulated ~~expects~~deficit, toand beexperienced ~~entitled~~negative incash ~~exchange~~flows ~~for~~from ~~those~~operating ~~goods or services~~activities. AnThese ~~entity~~conditions ~~recognizes~~raise ~~revenue~~substantial indoubt ~~accordance~~about ~~with~~the ~~that core principle by~~Company’s ~~applying~~ability ~~the~~to ~~following~~continue ~~steps:~~as ~~Step 1: Identify the contract(s) with~~ a ~~customer~~going ~~Step~~concern 2:within ~~Identify~~one ~~the~~year ~~performance~~after ~~obligations in~~ the ~~contract Step~~date 3:these ~~Determine~~financial ~~the~~statements ~~transaction~~are ~~price~~issued. ~~Step~~The 4:financial ~~Allocate~~statements do ~~the~~not ~~transaction~~include ~~price~~any toadjustments ~~the~~that ~~performance~~might ~~obligations~~result infrom the ~~contract~~outcome ~~Step~~of ~~5: Recognize~~this ~~revenue when (or as) the entity satisfies a performance obligation~~uncertainty.

~~Cash~~Management intends to address these conditions through capital raising efforts, related-party support, and ~~Cash~~the ~~Equivalents~~pursuit of suitable business opportunities or strategic transactions. However, there can be no assurance that the Company will be successful in these efforts.

~~Cash and~~NOTE ~~cash~~3 ~~equivalents~~– ~~consist~~SUMMARY ofOF ~~all cash balances and highly liquid investments with original maturities of three months or less. Because~~SIGNIFICANT ofACCOUNTING ~~short maturity of these investments, the carrying amounts approximate their fair values.~~POLICIES

~~Concentration~~The audited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of ~~Credit~~America ~~Risk~~(“GAAP”). The Company’s fiscal year end is July 31.

~~The Company~~Use ~~is exposed to credit risk in the normal course~~ of ~~business, primarily related to cash and cash equivalents~~Estimates. ~~The cash is deposited in the institution insured by the Federal Deposit Insurance Corporation (FDIC). The Company has not experienced any losses in such accounts.~~

~~Leases~~The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.

~~The Company~~Income ~~determines if an arrangement is a lease at inception~~Taxes. Operating leases are included in operating lease right-of-use (“ROU”) assets and operating lease liabilities in the consolidated balance sheets. Finance leases are included in finance lease ROU assets and finance lease liabilities in the consolidated balance sheets.

~~ROU assets~~Income ~~represent~~taxes ~~the~~are ~~Company’s~~accounted ~~right~~for tousing ~~use~~the ~~an underlying~~ asset ~~for the lease term~~ and ~~lease~~liability ~~liabilities represent the Company’s~~method. ~~obligation~~Deferred totax ~~make lease payments arising from the lease. Operating lease and finance lease ROU~~ assets and liabilities ~~recognized~~are ~~at July~~measured ~~31,~~using ~~2023~~enacted ~~and~~tax ~~2022~~rates ~~based~~expected onto ~~the~~apply ~~present~~in ~~value of lease payments over~~ the ~~lease~~periods ~~term~~in ~~discounted~~which ~~using~~temporary ~~the~~differences are ~~rate~~expected ~~implicit~~to ~~in the lease~~reverse. In ~~cases~~A ~~where~~valuation ~~the~~allowance ~~implicit rate~~ is ~~not~~established ~~readily~~when ~~determinable,~~necessary ~~the~~to ~~Company~~reduce ~~uses~~deferred ~~its~~tax ~~incremental~~assets ~~borrowing~~to ~~rate based on~~ the ~~information available~~amount atexpected ~~commencement~~to ~~date in determining the present value of lease payments. Lease expense for lease payments is recognized on~~be ~~a straight-line basis over the lease term~~realized.

~~The Company~~Revenue ~~has elected not to recognize operating lease ROU assets and liabilities arising from short-term leases~~Recognition.

~~Reporting~~The Company recognizes revenue in accordance with ASC 606, Revenue ~~Currency~~from Contracts with Customers. As of July 31, 2024, the Company had not commenced new business operations and ~~Translation~~did not recognize revenue during fiscal 2024.

~~The financial~~Cash statements of the Company’s foreign subsidiaries are measured using the local currency, Renminbi (“RMB”), as the functional currency; whereas the functional currency of Brilliant N.E.V Corp. (formerly Clancy Corp.)and ~~reporting~~Cash ~~currency of the Company is the United States dollar (“USD” or “$”)~~Equivalents.

The ~~Company~~ ~~has discontinued operations in China where the local currency of RMB was used to prepare the financial statements which were translated into the~~ Company’s ~~reporting~~considers ~~currency,~~all ~~U.S.~~highly ~~dollars.~~liquid ~~The~~investments ~~local~~with ~~currency~~original ~~of RMB is the functional currency for the discontinued~~maturities ~~operations outside the United States. Changes in the exchange rates between this currency and the Company’s reporting currency, are partially responsible for some~~ of ~~the~~three ~~periodic~~months ~~changes~~or inless ~~the~~when ~~consolidated~~purchased ~~financial~~to ~~statements.~~be ~~Assets~~cash ~~and liabilities of the Company’s foreign operations are translated into U~~equivalents.S. dollars at the spot rate in effect at the applicable reporting date. Revenues and expenses of the Company’s foreign discontinued operations are translated at the average exchange rate during the applicable period. The ~~resulting~~ ~~unrealized~~cash ~~cumulative~~balances ~~translation adjustment is recorded~~ as ~~a component~~ of accumulated other comprehensive income (loss) in stockholders’ deficit. Realized and unrealized transaction gains and losses generated by transactions denominated in a currency different from the functional currency of the applicable entity are recorded in general and administrative expense in the period in which they occur. For the years ended July 31, ~~July~~2024 ~~31,~~and 2023 ~~and 2022 there~~ were no$7,972 ~~realized or unrealized transaction gains~~ and ~~losses generated~~$1,302, ~~by transactions denominated in a currency different from the functional currency of the applicable entities~~respectively.

Foreign Currency Translation.

Following the cessation and transfer of the former China subsidiaries effective June 30, 2023, the Company no longer had active foreign operations during fiscal 2024.

Basic and Diluted Net Loss Per Share.

Basic net loss per share is computed by dividing net loss attributable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted net loss per share is the same as basic net loss per share for the periods presented because any potentially dilutive instruments would be anti-dilutive.

Stock-Based Compensation.

Stock-based compensation is accounted for in accordance with ASC 718. As of July 31, 2024, the Company had not adopted a stock option plan and had not granted any stock-based awards.

Recently Issued Accounting Pronouncements.

Management has reviewed recently issued accounting pronouncements and determined that no standard not yet adopted is expected to have a material effect on the Company’s financial statements.

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The exchange rates used to translate amounts in RMB to USD for the purposes of preparing the consolidated financial statements were as follows:

Schedule of exchange rates
	July 31, 2023		July 31, 2022
Period end USD: RMB exchange rate		7.13		6.74
Average USD: RMB exchange rate		7.02		6.50

Foreign Operations

All of the Company’s discontinued operations and assets are located in Beijing China. The Company may be adversely affected by possible political or economic events in this country. The effect of these factors cannot be accurately predicted.

Basic Income (Loss) Per Share

The Company computes income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”. Basic (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of July 31, 2023, and 2023, there were no potentially dilutive equity instruments issued or outstanding.

Comprehensive Income

The Company follows Financial Accounting Standards Board Accounting Standards Codification (“FASB ASC”) 220, “Comprehensive Income,” in reporting comprehensive income. Comprehensive income is a more inclusive financial reporting methodology that includes disclosure of certain financial information that historically has not been recognized in the calculation of net income. The Company has one item of other comprehensive income, consisting of a foreign translation adjustment; however, the translation adjustment was immaterial for the years ending July 31, 2023 and 2022.

Financial Instruments

The carrying value of the Company’s short-term financial instruments, such as accounts payable and advances, approximates their fair values because of their short maturities.

Stock-Based Compensation

Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options.

Recently Adopted Accounting Pronouncements

As of July 31, 2023, there are no recently issued accounting standards not yet adopted which would have a material effect on the Company’s consolidated financial statements.

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NOTE 4 – DISCONTINUED OPERATIONS

In June 2023, ~~the~~in ~~Company’s~~connection ~~former~~with ~~major~~a ~~shareholder~~change ~~and~~in ~~sole~~control ~~director~~of ~~Mr.~~the ~~Xiangying~~Company pursuant ~~Meng~~to ~~along~~a ~~with~~stock ~~other~~purchase ~~shareholders~~agreement, ~~entered~~the ~~into~~Company ~~a stock~~ceased ~~purchase~~the ~~agreement~~operations ~~(SPA)~~of ~~with~~its ~~Mr.~~China ~~Guangzhe Su~~subsidiaries. ~~Pursuant~~In toOctober 2023, the ~~SPA~~Company, ~~Mr.~~Shanghai Clancy, ~~Guangzhe~~and SuHongshan ~~became~~Yuanda ~~the~~Limited ~~major~~entered ~~shareholder~~into ~~and~~an agreement pursuant to which all of the Company’s ~~CEO.~~rights, ~~Due~~title toand ~~the~~interest ~~ownership~~in ~~change~~ and ~~pursuant~~ to ~~the~~Shanghai ~~SPA~~Clancy, ~~the~~including ~~Company~~its ~~ceased~~ownership ~~the~~of ~~operations~~Beijing ofClancy, ~~its~~were ~~China~~transferred ~~subsidiaries~~to inHongshan Yuanda Limited, effective as of June 30, 2023.

The following table presents the components of discontinued operations in relation to the China subsidiaries reported in the statements of operations:


	Years Ended July 31,
	2024		2023

Net Sales		-		-
Operating costs and expenses		-		240,269
Income (loss) from operations before other income and income taxes		-		(240,269	)
Other income (loss)				50
Income (loss) before income taxes, loss on equity investment, and non-controlling interest		-		(240,219	)
Income tax		-		-
Income (loss) from discontinued operations		-		(240,219	)

Comprehensive income statement
Net income (loss) from discontinued operations		-		(240,219	)
Foreign currency translation loss		-		46,499
Total comprehensive income (loss) from discontinued operations		-		(193,720	)

Schedule of components of discontinued operations
	Years Ended July 31,
	2023			2022
Net Sales		-			-
Operating costs and expenses		240,269			338,989
Income (loss) from operations before other income and income taxes		(240,269	)		(338,989	)
Other income (loss)		50			73
Income (loss) before income taxes, loss on equity investment, and non-controlling interest		(240,219	)		(338,916	)
Income tax		-			-
Income (loss) from discontinued operations		(240,219	)		(338,916	)
Comprehensive income statement
Net income (loss) from discontinued operations		(240,219	)		(338,916	)
Foreign currency translation loss		46,499			14,547
Total comprehensive income (loss) from discontinued operations		(193,720	)		(324,369	)

As of July 31, 2024, the Company had no continuing operations in China.

NOTE 5 – COMMITMENTS AND CONTINGENCIES

~~On October~~There ~~19,~~have ~~2017~~been no material changes to the Company’s commitments ~~entered~~and ~~into~~contingencies afrom ~~five-year~~those ~~rental~~disclosed ~~agreement~~in ~~for~~the aCompany’s Annual ~~$540~~Report ~~monthly~~on ~~fee,~~Form ~~starting~~10-K onfor ~~November~~the 1,fiscal ~~2017.~~year ~~Leased~~ended ~~Premise with~~July ~~the~~31, ~~area~~2023. As of 74July ~~square~~31, ~~meters~~2024 isand ~~located~~2023, atthe 8Company ~~Stasinou~~had ~~Ave,~~no ~~Lefkosia~~ongoing ~~1060,~~lease ~~Nicosia,~~right-of-use assets ~~Cyprus~~or lease liabilities.

Due to the adoption of the new lease standard under the optional transition method which allows the entity to apply the new lease standard at the adoption date, the Company has capitalized the present value of the minimum lease payments commencing August 1, 2019, using an estimated incremental borrowing rate of 6%. The minimum lease payments do not include common area annual expenses which are considered to be nonF-~~lease components.~~ 9

Because of the ownership change in June 2019, the Company did not use the premise anymore and no payments were made. But the Company adopted ASC 842 accounting for leases and continued to accumulated lease liabilities up to the quarter ended July 31, 2023. Due to the ownership change and pursuant to the SPA, the former major shareholder assumed the accumulated lease liabilities of $21,060.

On May 26, 2020, the Company entered into a three-year rental agreement for a 32,000 RMB per month. The office is located on the second floor of BYD 4S shop, No 56, Dongsihuan South Road, Chaoyang District, Beijing. In May 2020, the Company paid 480,000RMB ($67,306) including the first year rent of 384,000 RMB ($53,845) and three month rent of 96,000 RMB ($13,461) as the security deposit. In May 2021, the Company paid 384,000 RMB ($60,300) for the second year. In June 2022, the Company paid 384,000 RMB ($59,170) for the third and final year. Due to the adoption of the new lease standard under the optional transition method which allows the entity to apply the new lease standard at the adoption date, the Company has capitalized the present value of the minimum lease payments commencing August 1, 2019, using an estimated incremental borrowing rate of 6%. The minimum lease payments do not include common area annual expenses which are considered to be non-lease components.

The three year lease ended in May 2023 and the Company did not renew the lease. As of July 31, 2023 and 2022, the total operating lease Right of Use assets were $0 and $48,832, respectively.

Total lease expense under operating leases for the year ended July 31, 2023 and 2022 were $45,576 and $64,506, respectively.

As of July 31, 2023 and 2022, the total operating lease Right of Use assets were $0 and $48,832, respectively.

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NOTE 6 – RELATED PARTY TRANSACTIONS

The Company’s ~~former major shareholder and now~~ Chief Financial Officer has ~~been~~funded ~~funding~~ the Company ~~for~~from ~~its~~time ~~operations~~to ontime ~~an as needed basis. For the year ended July 2022, the Company received $336,327, including $30,000~~ for ~~the~~working ~~continuing~~capital ~~operations~~ and ~~$306,327~~operating ~~for the~~expenses ~~discontinued~~on ~~operations~~an as-needed basis. During the year ended July 31, ~~2023~~2024, the ~~former major shareholder and now~~ Chief Financial Officer ~~loaned the~~advanced ~~Company~~ $444,~~382~~763 to the Company. As of July 31, ~~2023~~2024 and ~~2022~~July 31, 2023, the ~~Company~~amounts ~~owed~~due to the ~~former major shareholder and now~~ Chief Financial Officer were $449,~~382~~145 and $~~541~~4,~~750~~382, respectively. ~~This~~These ~~loan~~advances iswere unsecured, non-interest bearing , and due on demand.

NOTE 7 -– ~~RESEARCH~~INCOME ~~AND DEVELOPMENT EXPENSE~~TAXES

The Company ~~incurred~~accounts ~~significant~~for ~~expenses~~income taxes in ~~research~~accordance ~~and~~with ~~development~~ASC ~~(R&D)~~740, Income Taxes. ~~For~~As ~~the~~of ~~years ended~~ July 31, ~~2023~~2024, ~~and~~management ~~2022,~~believes that it is more likely than not that the ~~R&D~~Company’s ~~expenses~~deferred ~~were~~tax ~~$53~~assets,~~160 and~~ ~~$258~~if any,~~764~~ will not be realized, ~~respectively~~and accordingly a full valuation allowance has been recorded against such deferred tax assets. The Company did not record a material current income tax provision for fiscal 2024.

~~NOTE~~As of July 31, 2024, the Company had net operating loss carryforwards 8of ~~– GENERAL~~$272,839 ~~AND~~for ~~ADMINISTRATIVE~~U.S. ~~EXPENSES~~federal ~~(G&A)~~income tax purposes.

The ~~general~~ ~~and~~following ~~administrative~~table ~~expenses~~reconciles ~~contain~~the U.S. statutory rates to the ~~following~~Company’s effective –tax ~~continuing~~rate ~~operations~~for the years ended July 31, 2024 and 2023:

Schedule of General and Administrative Expenses
Schedule of U.S. federal statutory rates
	For the year ended July 31,
	Fiscal Years Ended July 31,
Description	2023			2022
	2024			2023
Payroll and payroll tax expenses	$	-			-
US federal statutory rates		(21.0	)%		(21.0	)%
Professional fees		38,200			26,750
Valuation allowance		21	%		21	%
Lease expenses		1,620			6,480
Effective tax rate		-	%		-	%
Other G&A		12,551			8,504
Total	$	52,371		$	41,734

~~The~~Income tax expense was $0 for the years ended ~~general~~July 31, 2024 and ~~administrative~~2023. ~~expenses~~The ~~contain~~provision for income tax expense (benefit) for the ~~following~~years –ended ~~discontinued~~July ~~operations~~31, 2024 and 2023 consisted of the following:

	For the year ended July 31,
Schedule of income tax expense benefit
Description	2023			2022
	2024			2023
Payroll and payroll tax expenses	$	140,206			19,763
Income tax expense (benefit)	$	(7,533	)	$	(10,998	)
Professional fees		-			-
Increase (decrease) in valuation allowance		7,533			10,998
Lease expenses		45,576			58,026
Total income tax expense	$	-		$	-
Other G&A		1,327			2,436
Total	$	187,109		$	80,225

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Table of Contents

The Company’s net deferred tax assets as of July 31, 2024 and 2023 were as follows:

Schedule of deferred tax assets
	2024			2023
Deferred tax asset
Net operating loss	$	49,704		$	42,171
Total		49,704			42,171
Less: valuation allowance		(49,704	)		(42,171	)
Net deferred tax asset	$	-		$	-

NOTE 8 - SHARES ISSUED FOR EQUITY FINANCING

In December 2020, the Company issued 150,000,000 shares of common stock of the Company to five individuals including the Company’s CEO, at $0.002 per share. The Company received proceeds of $300,000 from this private placement. As of July 31, 2024 and July 31, 2023, the shares issued and outstanding were 153,105,464 for both year end periods.

NOTE 9 – SUBSEQUENT EVENTS

Management has evaluated subsequent events through April 21, 2026, the date the financial statements were issued. Based on this evaluation, the Company determined that there were no material subsequent events requiring recognition or disclosure in these financial statements, except as disclosed elsewhere in this Annual Report on Form 10-K.

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Table of Contents

NOTE 9 – INCOME TAXES

The Company utilizes the asset and liability method of accounting for income taxes in accordance with FASB ASC 740, “Income Taxes”. Under this method, income tax expense is recognized for the amount of: (i) taxes payable or refundable for the current period and (ii) deferred tax consequences of temporary differences resulting from matters that have been recognized in an entity’s financial statements or tax returns. Deferred tax assets also include the prior years’ net operating losses (“NOL”) carried forward. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period that includes the enactment date. A valuation allowance is provided to reduce the deferred tax assets reported if based on the weight of the available positive and negative evidence, it is more likely than not some portion or all of the deferred tax assets will not be realized.

The Company is subject to income taxes by entity on income arising in or derived from the tax jurisdiction in which each entity is domiciled. The Company’s PRC subsidiaries file their income tax returns online with PRC tax authorities. The Company conducts all of its businesses through its subsidiaries and affiliated entities, principally in the PRC.

(A) United States (“US”)

The Company’s US parent company was incorporated in the US and is subject to U.S. income tax rate of 21% and files U.S. federal income tax return. As of July 31, 2023, the US entity had net operating loss carry forwards for income tax purpose of $200,813. The ultimate realization of deferred tax assets is dependent upon the Company’s future generation of taxable income during the periods in which temporary differences representing net future deductible amounts become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. After consideration of all the information available, management believes that significant uncertainty exists with respect to future realization of the deferred tax assets due to the Company’s US parent company’s limited operating history and continuous loss, and has therefore established a full valuation allowance as of July 31, 2023.

(B) PRC

The Company’s wholly owned Chinese subsidiary Shanghai Clancy is a wholly foreign-owned entity (“WFOE”). Shanghai Clancy had no business activity from inception through July 31, 2022. The Company’s second tier WOFE subsidiary, Beijing Clancy, is subject to the reduced PRC income tax rate as follows as per Caishui (2019) No. 13 issued by General Administration of Taxation, Ministry of Finance of PRC in January 2019: if the annual taxable income of small enterprises does not exceed RMB 1 million ($152,000), only 25% of such taxable income is required for paying the income tax at an income tax rate of 20% (equivalent to 5% of the total taxable income); if the annual taxable income of small enterprises is between RMB 1 million ($152,000) and RMB 3 million ($456,000), only 50% of such taxable income is required for paying the income tax at an income tax rate of 20% (equivalent to 10% of the total taxable income). This tax-reduced policy is effective for the period from January 1, 2019 through December 31, 2022. Beijing Clancy did not have taxable income for year ending July 31, 2022. Tax losses of the operating subsidiaries of the Company may be carried forward for five years in China.

Due to the discontinuation of the Chinese subsidiaries, the NOL does not have any impact to the Company as of July 31, 2023.

The following table reconciles the U.S. statutory rates to the Company’s effective tax rate for the years ended July 31, 2023 and 2022:

Schedule of Effective Income Tax Rates
	Fiscal Years Ended July 31,
	2023			2022
US federal statutory rates		(21.0	)%		(21.0	)%
Valuation allowance		21.0	%		21.0	%
Effective tax rate		-	%		-	%

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Table of Contents

Income tax expense was $0 for the years ended July 31, 2023 and 2022. The provision for income tax expense (benefit) for the years ended July 31, 2023 and 2022 consisted of the following:

Schedule of Components of Income tax expense
	2023			2022
Income tax expense (benefit)	$	(10,998	)	$	(8,764	)
Increase (decrease) in valuation allowance		10,998			8,764
Total income tax expense	$	-		$	-

The Company’s net deferred tax asset as of July 31, 2023 and 2022 is as follows:

Schedule of Deferred Tax Assets
	July 31, 2023			July 31, 2022
Deferred tax asset
Net operating loss	$	42,171		$	46,298
Total		42,171			46,298
Less: valuation allowance		(42,171	)		(46,298	)
Net deferred tax asset	$	-		$	-

NOTE 10 - SHARES ISSUED FOR EQUITY FINANCING

In December 2020, the Company issued 150,000,000 shares of common stock of the Company to five individuals including the Company’s CEO, at $0.002 per share. The Company received proceeds of $300,000 from this private placement. As of July 31, 2023 and July 31, 2022, the shares out issued and outstanding were 153,105,464 for both yearend periods.

NOTE 11 - SUBSEQUENT EVENTS

Management has evaluated subsequent events through the date of filing the financial statements with the Securities and Exchange Commission, the date the financial statements were available to be issued. Management is not aware of any reportable events that occurred subsequent to the balance sheet date up to the date of filing this report except the following:

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Table of Contents

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.

~~There are~~On ~~not~~September ~~and~~20, ~~have~~2024, ~~not~~RH ~~been~~CPA ~~any~~ceased ~~disagreements~~serving ~~between~~as the Company’s independent ~~and~~registered ~~its~~public ~~accountants on any matter of~~ accounting ~~principles, practices or financial statement disclosure~~firm. ~~During fiscal year ended July 31, 2023, our auditor was changed to RH CPA.~~

RH CPA served as the Company’s independent registered public accounting firm for the fiscal years ended July 31, 2023 and 2022. The audit reports of RH CPA on the Company’s financial statements for those periods did not contain an adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope, or accounting principles, except for explanatory language regarding the Company’s ability to continue as a going concern.

During the fiscal years ended July 31, 2023 and 2022, and through September 20, 2024, there were no disagreements, as defined in Item 304(a)(1)(iv) of Regulation S-K, between the Company and RH CPA on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure which, if not resolved to the satisfaction of RH CPA, would have caused RH CPA to make reference thereto in its reports. During the same periods, there were no reportable events as defined in Item 304(a)(1)(v) of Regulation S-K.

On March 24, 2026, the Company engaged Boladale Lawal & Co (Chartered Accountants) as its new independent registered public accounting firm.

During the fiscal years ended July 31, 2023 and 2022, and through March 24, 2026, neither the Company nor anyone on its behalf consulted Boladale Lawal & Co (Chartered Accountants) regarding (i) the application of accounting principles to a specified transaction or the type of audit opinion that might be rendered, or (ii) any matter that was the subject of a disagreement or reportable event, as defined in Item 304(a)(1)(iv) and (v) of Regulation S-K.

Item 9A. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

~~In connection~~Management, with the ~~preparation~~participation of ~~this annual report, an evaluation was carried out by~~ the Company’s ~~management, with the participation~~ ~~of the~~ principal executive officer and ~~the~~ principal financial officer, ofevaluated the effectiveness of the Company’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act ~~(“Exchange~~of ~~Act”)~~1934, as amended) as of July 31, ~~2023~~2024. Disclosure controls and procedures are designed to ensure that information required to be disclosed by the Company in the reports ~~filed~~it files or ~~submitted~~submits under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized, and reported within the time periods specified in the ~~Commission’s~~ rules and forms, of the Securities and Exchange Commission and that such information is accumulated and communicated to management, including the ~~principal~~Company’s principal executive officer and ~~the~~ principal financial officer, as appropriate, to allow timely decisions regarding required ~~disclosures~~disclosure.

Based on ~~that~~this evaluation, the Company’s principal ~~management~~executive ~~concluded,~~officer asand ofprincipal ~~the~~financial ~~end~~officer ofconcluded ~~the period covered by this report,~~ that the Company’s disclosure controls and procedures were not effective inas ~~recording,~~of ~~processing,~~July ~~summarizing~~31, ~~and~~2024 ~~reporting~~because ~~information~~of ~~required~~material toweaknesses ~~be disclosed,~~in ~~within~~ the ~~time~~Company’s internal ~~periods~~control ~~specified~~over infinancial ~~the~~reporting. ~~Commission’s~~These ~~rules~~material ~~and~~weaknesses ~~forms,~~included ~~and~~a ~~that~~lack ~~such~~of ~~information~~sufficient ~~was~~personnel ~~not~~with ~~accumulated~~appropriate accounting and ~~communicated~~financial toreporting ~~management~~expertise, ~~including~~inadequate ~~the~~segregation ~~principal~~of ~~executive~~duties, ~~officer~~and limited written policies and ~~the~~procedures ~~principal~~necessary ~~financial~~to ~~officer~~achieve complete, toaccurate ~~allow~~and timely ~~decisions regarding~~financial ~~required disclosures~~reporting.

Management’s Annual Report on Internal Control over Financial Reporting

~~The management~~Management ~~of the Company~~ is responsible for establishing and maintaining adequate internal control over financial reporting. ~~The~~for the Company~~’s internal~~. Internal control over financial reporting is a process designed by, ~~under~~or under the supervision of, the Company’s principal executive officer and ~~the~~ principal financial officer, ~~designed~~ to provide reasonable assurance regarding the reliability of financial reporting and the preparation of ~~the Company’s~~ financial statements for external purposes in accordance with ~~United States generally accepted accounting principles (~~GAAP). ~~Internal control over financial reporting includes those policies and procedures that:~~

●Because ~~Pertain~~of toits ~~the~~inherent ~~maintenance~~limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of ~~records~~any ~~that~~evaluation inof ~~reasonable~~effectiveness ~~detail~~to ~~accurately~~future ~~and~~periods ~~fairly~~are ~~reflect~~subject to the ~~transactions~~risk ~~and~~that ~~dispositions~~controls may become inadequate because of changes in conditions or that compliance with the ~~Company’s~~policies ~~assets;~~or procedures may deteriorate.

●Management ~~Provide~~assessed ~~reasonable~~the ~~assurance~~effectiveness ~~that~~of ~~transactions~~the ~~are~~Company’s internal ~~recorded~~control over financial reporting as ~~necessary~~of toJuly ~~permit~~31, ~~preparation~~2024 ofusing the ~~financial~~criteria ~~statements~~established in ~~accordance~~Internal ~~with~~Control—Integrated ~~generally~~Framework (2013) ~~accepted~~issued ~~accounting~~by ~~principles~~the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”). Based on this assessment, ~~and~~management concluded that ~~receipts~~the ~~and~~Company’s internal ~~expenditures~~control ~~are~~over ~~being~~financial ~~made~~reporting ~~only~~was innot ~~accordance~~effective ~~with~~as ~~authorizations~~ of ~~management~~July ~~and~~31, 2024 due to the ~~board~~material ofweaknesses ~~directors;~~described ~~and~~above.

●This ~~Provide~~Annual ~~reasonable~~Report ~~assurance~~on ~~regarding~~Form ~~prevention~~10-K ordoes ~~timely~~not ~~detection~~include an attestation report of ~~unauthorized~~the ~~acquisition,~~Company’s ~~use,~~registered orpublic ~~disposition~~accounting offirm regarding internal control over financial reporting. Management’s report was not subject to attestation by the Company’s ~~assets~~registered ~~that~~public ~~could~~accounting ~~have~~firm pursuant ato ~~material~~the ~~effect~~rules onof the ~~financial~~SEC ~~statements~~that permit the Company to provide only management’s report in this Annual Report on Form 10-K.

~~Because of~~Changes ~~its~~in ~~inherent~~Internal ~~limitations,~~Control ~~internal control~~ over ~~financial reporting may not prevent or detect misstatements. Also, projections of~~ ~~any~~Financial evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions or that the degree of compliance with the policies or procedures may deteriorate. Reporting

~~The Company’s~~During ~~management conducted an assessment of~~ the ~~effectiveness~~fiscal ofyear ~~our~~ended ~~internal control over financial reporting as of~~ July 31, ~~2023~~ 2024, ~~based~~there onwere ~~criteria~~no ~~established~~changes in ~~Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations~~ of the ~~Treadway~~Company’s ~~Commission (2013) as set forth in its Internal Control - Integrated Framework. This assessment identified material weaknesses in~~ internal control over financial reporting. ~~A material weakness is a control deficiency, or a combination of deficiencies in internal control over financial reporting~~ that ~~creates a reasonable possibility that a material misstatement in annual or interim financial statements~~materially ~~will~~affected, ~~not be prevented~~ or ~~detected~~were onreasonably alikely ~~timely~~to ~~basis.~~materially ~~Since~~affect, the ~~assessment of the effectiveness of our internal control over financial~~Company’s ~~reporting did identify a material weakness, management considers its~~ internal control over financial reporting ~~to be ineffective~~.

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Management has concluded that our internal control over financial reporting had the following material deficiencies:

● We were unable to maintain segregation of duties within our business operations due to our reliance on limited personnel fulfilling the role of officers and directors.

● Lack of a functioning audit committee due to a lack of a majority of independent members and a lack of a majority of outside directors on our Board of Directors, resulting in ineffective oversight in the establishment and monitoring of required internal control and procedures.

While these control deficiencies did not adversely affect our 2023 or 2022 interim or annual financial statements, it could have resulted in a material misstatement that might have been prevented or detected by a segregation of duties. Accordingly, we have determined that this control deficiency constitutes a material weakness.

To the extent reasonably possible, given our limited resources, our goal is, upon consummation of a merger with a private operating company, to further separate the responsibilities of principal executive team, intending to rely on two or more individuals. We will also seek to expand our current board of directors to include additional individuals willing to perform directorial functions. Since the recited remedial actions will require that we hire or engage additional personnel, this material weakness may not be overcome in the near term due to our limited financial resources. Until such remedial actions can be realized, we will continue to rely on the advice of outside professionals and consultants.

This annual report does not include an attestation report of our registered public accounting firm regarding our internal controls over financial reporting. Management’s report was not subject to attestation by our registered public accounting firm pursuant to Section 404(c) of the Sarbanes-Oxley Act that permit us to provide only management’s report in this annual report.

Changes in Internal Controls over Financial Reporting

During the year ended July 31, 2023, there has been no change in internal control over financial reporting that has materially affected or is reasonably likely to materially affect our internal control over financial reporting.

Item 9B. Other Information.

~~None~~During the quarter ended July 31, 2024, none of the Company’s directors or officers adopted or terminated any Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement, as such terms are defined in Item 408 of Regulation S-K.

21Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections.

Not applicable.

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PART III

Item 10. Directors, Executive Officers and Corporate Governance.

The following table sets forth certain information concerning our officers and directors.

Name	Age	Position(s)
Guangzhe Su	55	Chief Executive Officer, President and director
Xiangying Meng	47	Chief Financial Officer and director

Name	Age	Position
Guangzhe Su	52	Chief (Principal) Executive Officer, President and Director
Xiangying Meng	44	Chief (Principal) Financial (Accounting) Officer, President and Director

The following table sets forth information regarding the Company’s executive officers and directors as of the date of this report.

Management and Director Biographies:

Guangzhe Su. Mr. Su is an entrepreneur ~~having~~who has formed numerous companies induring his business career. In 2017, he established Zhejiang Brilliant New Electric Vehicle Co., Ltd. ~~(“Brilliant NEV”)~~, a technology company, located ~~which~~in ~~among~~Zhejiang, ~~other things~~China, ~~provide~~ which provides smart charging, power storage and replacement services~~, located in Zhejiang, PRC~~. In November 2022, he also established Zhejiang Brilliant Business Holdings Co., Ltd., located in Zhejiang, ~~PRC~~China, which is the parent entity of Zhejiang Brilliant ~~NEV.~~New ~~Presently~~Electric Vehicle Co., heLtd. isMr. ~~the~~Su has served as Chairman and General Manager of Zhejiang Brilliant Business Holdings Co., Ltd. Hesince ~~has~~2022. ~~acted~~The Company inbelieves that ~~capacity~~Mr. ~~since~~Su’s ~~2022~~entrepreneurial and business management experience qualifies him to serve as a director and executive officer of the Company.

Xiangying Meng. Mr. Meng has ~~been~~significant ~~the~~experience ~~Company’s~~in ~~sole~~corporate management ~~officer~~ and ~~director~~the ~~since~~information ~~March~~technology ~~31, 2020~~industry. From December 2015 to April 2018, ~~Mr. Meng~~he ~~has~~served ~~worked~~ as executive director of Beijing Chengdun Chengxun Information Technology Co., Ltd. From March 2018 to December 2019, he ~~was~~served ~~the~~as Chief Executive Officer and a member of the board of directors of Beijing Chengdun Qixin Technology Co., Ltd. ~~From~~Since April ~~2019~~ ~~to present~~2019, he has ~~been~~served ~~the~~as Chief Executive Officer of Beijing Chengdun Kaibo Network Technology Co., Ltd. Mr. Meng has more than ten years of experience in corporate management and more than fifteen years of experience in the IT industry. HeThe isCompany ~~familiar~~believes ~~with~~that ~~the~~Mr. Meng’s ~~status~~management and ~~development~~operational ~~trends~~experience qualifies him to serve as a director and executive officer of the ~~IT market~~Company.

Family ~~Relationships~~ ~~amongst Directors and Officers:~~Relationships

None.

~~Involvement in Certain~~ Legal Proceedings

To the best of ~~our~~the Company’s knowledge, none of ~~our~~the directors or executive officers has, during the past ten years, been involved in any legal proceedings required ~~described~~to inbe ~~subparagraph~~disclosed ~~(f) of~~by Item 401(f) of Regulation S-K.

~~Significant~~Code of Ethics; Audit Committee; ~~Employees~~Committees

WeThe Company has not adopted a separate code of business conduct and ~~have~~ethics, nonominating ~~significant~~committee ~~employees~~charter, ~~other~~audit ~~than~~committee ~~our~~charter, ~~sole~~or ~~officer~~compensation committee charter. Because of the Company’s limited size and ~~director~~resources, ~~named~~the inboard ~~this~~of ~~Annual~~directors ~~Report~~presently performs these functions directly.

Code of Business Conduct and Code of Ethics

Our Board of Directors has not adopted a Code of Business Conduct and Ethics because we currently have limited individuals serving as our officers and directors.

Nominating Committee

We have not adopted any procedures by which security holders may recommend nominees to our Board of Directors.

Audit and Compensation Committee

The Board of Directors acts as the audit committee and compensation committee. The Company does not have a qualified financial expert at this time because it has not been able to hire a qualified candidate. Further, the Company believes that it has inadequate financial resources at this time to hire such an expert. The Company intends to continue to search for a qualified individual for hire.

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Item 11. Executive Compensation.

DIRECTOR AND OFFICER COMPENSATION

Name and Principal Position	Year		Salary		Bonus		Stock Awards		Total
Guangzhe Su		2024	$	0	$	0	$	0	$	0
Xiangying Meng		2024	$	0	$	0	$	0	$	0

The following summary compensation table sets forth all compensation awarded to, earned by, or paid to our officers and directors by the Company during the fiscal years ended July 31, 2023 and 2022 in all capacities:9

Name and Position

Year

Salary

Bonus

Stock Award(s)

Option| Awards

All Other Compensation

Total

Guangzhe Su, Chief Executive Officer

2023

None

Xiangying Meng, Chief Financial Officer

2023

None

2022

None

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~~The Company’s~~Outstanding ~~current~~Equity and former officers and directors have not received or accrued any cash or other remuneration since they were appointed to serve in such capacities. No remuneration of any nature has been paid for on account of services rendered by a director in such capacity. Our officers and directors intend to devote limited time to our affairs.Awards

~~We have~~As ~~formulated no plans as to the amounts~~ of ~~future~~July ~~cash compensation. It is possible that~~31, ~~after the Company successfully consummates a business combination with an unaffiliated entity~~2024, ~~that entity may desire to employ or retain members of our management for~~ the ~~purposes of providing services to the surviving entity. No retirement, pension, profit sharing, stock option or insurance programs or other similar programs have been adopted by the~~ Company ~~for~~had ~~the benefit of its employees. There are~~ no ~~understandings~~outstanding orequity ~~agreements regarding compensation our management will receive after a business combination that is required to be disclosed~~awards. ~~The Company does not have a standing compensation committee or a committee performing similar functions.~~

Outstanding Equity awards

We have no outstanding equity awards.

Employment Agreements

~~We do~~Except as previously disclosed, the Company did not have ~~any~~ employment agreements with ~~our~~its executive officers ~~and~~as ~~directors~~of July 31, 2024.

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related ~~Stockholder~~Shareholder Matters.

The following table sets forth certain information regarding the beneficial ownership of ~~our~~the ~~Common~~Company’s ~~Stock~~common stock as of ~~the~~April ~~date~~28, of2026 ~~this filing~~ by (i) each ~~named executive officer~~director, (ii) each ~~member~~executive ~~of our Board of Directors~~officer, (iii) each person known ~~deemed~~by tothe beCompany ~~the~~to ~~beneficial~~beneficially ~~owner~~own of more than five percent ~~(5%)~~ of ~~any~~its ~~class of our~~ common stock, and (iv) all ~~of our~~ executive officers and directors as a group. Unless otherwise indicated, each person named below has sole voting and investment power with respect to the shares shown. The percentage of beneficial ownership is based on 153,105,464 shares of common stock outstanding as of April 28, 2026.

Unless otherwise indicated, each person named in the following table is assumed to have sole voting power and investment power with respect to all shares of our common stock listed as owned by such person. The address of each person is deemed to be the address of the issuer unless otherwise noted. The percentage of common stock held by each listed person is based on 153,105,464 shares of common stock outstanding as of the date of this filing.

Name and Address of Beneficial Owner	Number of Shares Beneficially Owned		Percent of Class
Guangzhe Su		79,700,000		52.056	%
Xiangying Meng		28,403,250		18.551	%
All directors and executive officers as a group		108,103,250		70.607	%
Meillon Equity Transfer Agency Services Ltd. (1)		31,000,000		20.247	%
Fusheng Lei (2)		13,860,573		9.053	%

~~Pursuant to~~(1) ~~Rule~~The ~~13d-3~~address ~~promulgated~~of ~~under~~Meillon ~~the~~Equity ~~Exchange~~Transfer ~~Act,~~Agency ~~any~~Services ~~securities~~Ltd. ~~not~~is 1142 ~~outstanding~~S ~~which~~Diamond ~~are~~Bar ~~subject~~Blvd, toSuite ~~warrants~~450, ~~rights~~Diamond orBar, ~~conversion privileges~~California ~~exercisable~~91765. ~~within~~Based 60on ~~days~~information ~~are~~provided ~~deemed~~by tomanagement, ~~be outstanding for purposes of computing~~ the ~~percentage~~control ~~of outstanding securities of the class owned by such~~ person ~~but are not deemed to be outstanding for the purposes~~ of ~~computing the percentage of any other person.~~ ~~The~~this ~~address~~shareholder ~~of Mr. Su~~ is ~~the~~Fusheng ~~address of the Company~~Lei.

23(2) The address of Fusheng Lei is Room 1401, Building 43, Area B, Linken Park, Yizhuang Town, Daxing District, Beijing, China. Fusheng Lei is the brother-in-law of Xiangying Meng, the Company’s Chief Financial Officer and director.

Equity Compensation Plan Information

The Company did not maintain any equity compensation plans as of July 31, 2024.

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Name of Beneficial Owner	Amount and Nature of Beneficial Owner		Percent of Class
Officers and Directors
Guangzhe Su		79,700,000		52.056	%
Xiangying Meng		28,403,250		18.551	%
All officers and directors as a group (2 individuals)		108,103,250		70.607	%
Greater than 5% Holders
Meillon Equity Transfer Agency Services Ltd.(1)		31,000,000		20.247	%
Fusheng Lei(2)		14,000,000		9.1	%

(1). The address of the shareholder is 1142 S. Diamond Bar Blvd. Suite 450, Diamond Bar, Ca 91765. The control person of the shareholder is Mr. Fusheng Lei.

(2). The amount excludes 31,000,000 shares of common stock held by Meillon Equity Transfer Agent Services Ltd. The address of the shareholder is Room 1401, Building 43, Area B, Linken Park, Yizhuang Town, Daxing District, Beijing, China.

Item 13. Certain Relationships and Related Transactions, and Director Independence.

~~Immediately prior~~Related toParty June 28, 2019, the Company’s then sole officer and director had a loan outstanding to the Company in the amount of $23,334. This loan was unsecured, non-interest bearing and due on demand. As part of change of control transaction which occurred on June 28, 2019, the outstanding balance was forgiven and written off. As a result, the balance due to this former officer and director was $0 as of July 31, 2019. On that same date (June 28, 2019), the Company also assigned all assets and liabilities to the former officer and director of the Company. In connection with this change of control, the Company ceased its business operations and is now a “shell company” as defined under Rule 405 promulgated under the Securities Act of 1933, as amended. On March 31, 2020, Mr. Meng purchased a controlling interest in the Company and was assigned the rights and interest to the advances made to the company by the then former majority stockholder, Mr. Gaoyang Liu. As of July 31, 2023, Mr. Meng, the new officer and director, has loaned the Company the sum of $4,382. This loan is unsecured, non-interest bearing and due on demand.Transactions

~~On December~~During ~~23,~~fiscal ~~2020~~2024, the Company ~~closed~~continued ato ~~private~~receive ~~placement~~advances offrom related ~~its common stock to five~~ parties, ~~pursuant~~primarily toits ~~which~~Chief ~~these~~Financial ~~parties~~Officer, ~~subscribed~~ to ~~150,000,000~~fund ~~shares~~working ofcapital ~~common~~and ~~stock~~operating ~~for~~expenses. ~~the~~These ~~sum~~advances ofwere ~~$300~~unsecured,~~000.~~ non-interest Ofbearing, ~~the~~and ~~total~~due ~~offering,~~on Mrdemand. ~~Xiangying~~The ~~Meng~~related-party ~~subscribed~~note toin ~~75,550,000~~the ~~shares and~~audited ~~paid~~financial ~~the~~statements ~~Company~~should ~~the~~be ~~sum~~read oftogether ~~$151,100~~with this Item 13 disclosure.

On June 26, 2023, ~~a change of control occurred with respect to~~ the Company. ~~Pursuant~~completed ~~to a Stock Purchase Agreement entered into by and among~~ the ~~Company,~~change-of-control ~~Xiangying Meng, the Company’s sole officer and director and majority shareholder, along with certain other shareholders,~~transaction aspursuant ~~sellers~~to ~~(collectively~~which ~~“Sellers”), and~~ Guangzhe Su ~~(“Buyer”)~~acquired ~~(the “Purchase Agreement”), Sellers collectively assigned, transferred and conveyed to Buyer a total of~~ 79,700,000 shares of common stock offrom ~~Company~~Xiangying ~~(“Common~~Meng ~~Stock”), which represents approximately 52.056% of the total issued~~ and ~~outstanding~~other ~~shares~~selling ~~of the Company~~shareholders. The Common Stock was acquired for the sum of $50,000 payable to the Sellers, and in addition, the Company will enter into a two year consulting agreement with Mr. Meng for $189,100. In addition, Mr. Meng forgave all of the outstanding indebtedness owed by the Company. Mr. Su used his own personal funds to acquire the Common Stock.

Other than as ~~stated~~described ~~herein~~in this report, there ~~have~~were ~~been~~ no related -party transactions, orduring ~~any~~fiscal ~~other~~2024 ~~transactions or relationships~~ required to be disclosed ~~pursuant~~ tounder Item 404 of Regulation S-K.

Director Independence:

~~Our Common~~Because ~~Stock is currently quoted on~~ the ~~OTC-Pink~~Company’s ~~which~~common ~~does~~stock is not ~~have~~listed ~~any~~on ~~director~~a ~~independence requirements. In determining whether~~national ~~our~~securities ~~directors are independent~~exchange, wethe ~~refer~~Company ~~to NASDAQ Stock Market Rule 4200(a) (15) which indicates that a director~~ is not ~~considered~~subject to be ~~independent~~any ifexchange-mandated ~~he or she also is an executive officer or employee of the corporation. Based on those widely~~director-~~accepted~~independence ~~criteria, we have determined that our directors Guangzhe Su and Xiangying Meng are not independent as they also serve as the officers of the Company~~requirements.

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Item 14. Principal Accountant Fees and Services.

RH CPA is the Company’s current independent registered public accounting firm.

(1) Audit Fees

The aggregate fees billed for ~~each of the last two fiscal years for~~ professional services rendered by the Company’s ~~principal~~independent ~~accountant~~registered ~~for~~public ~~our~~accounting ~~audit of~~firms ~~annual~~for ~~financial~~the ~~statements~~audit ~~and review~~ of ~~financial statements included in our quarterly reports or services that are normally provided by~~ the ~~accountant~~Company’s inannual ~~connection~~financial ~~with~~statements ~~statutory~~ and ~~regulatory~~related services ~~filings~~were oras ~~engagements for those fiscal years were~~follows:

2023		$	7,500 (Total)	Jack Shama CPA ($3,000); and RH CPA ($4,000)
2024:	$11,500, consisting of fees paid to RH CPA and Boladale Lawal & Co (Chartered Accountants).
2022		$	11,500 (Total)	Jack Shama CPA ($4,000); Morison Cogen LLP ($3,500); and RH CPA ($4,000)
2023:	$7,000, consisting of fees paid to Jack Shama CPA and RH CPA.

(2) Audit-Related Fees

The aggregate fees billed ~~in each of the last two fiscal years~~ for assurance and related services ~~by the principal accountants that are~~ reasonably related to the performance of the audit or review of ~~our~~the Company’s financial statements ~~and~~were ~~are~~as ~~not reported in the preceding paragraph~~follows:

2022		$	0
2024:		$	0
2021		$	0
2023:		$	0

(3) Tax Fees

The aggregate fees billed ~~in each of the last two fiscal years~~ for professional services ~~rendered by the principal accountant~~ for tax compliance, tax advice, and tax planning were as follows:

2022		$	0
2024:		$	0
2021		$	0
2023:		$	0

(4) All Other Fees

The aggregate fees billed ~~in each of the last two fiscal years~~ for ~~the~~ products and services ~~provided~~other bythan ~~the principal accountant, other~~those ~~than~~described ~~the~~above ~~services~~were ~~reported~~as ~~in paragraphs (1), (2), and (3) were~~follows:

2022		$	0
2024:		$	0
2021		$	0
2023:		$	0

The ~~percentage~~ board of ~~hours~~directors ~~expended~~performs on the ~~principal~~functions ~~accountant’s~~of ~~engagement~~an to audit ~~our financial statements for the most recent fiscal~~committee ~~year~~and ~~that~~pre-approves ~~were~~all ~~attributed~~services toprovided ~~work performed~~ by ~~persons other than~~ the ~~principal accountant~~Company’s ~~full~~independent ~~time,~~registered ~~permanent~~public ~~employees~~accounting ~~was 0%~~firms.

~~Audit Committee’s Pre-Approval Process~~11

The Board of Directors acts as the audit committee of the Company, and accordingly, all services are approved by all the members of the Board of Directors.

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PART IV.

Item 15. Exhibits, Financial Statement Schedules.

Exhibit		Description
3.1(i)		Amended and Restated Articles of Incorporation (1)
3.1(ii)		Certificate of Amendment (Increase Authorized and Forward Stock Split)(5)
3.1(iii)		Certificate of Amendment (Reverse Split)(6)
3.2		Bylaws (1)
10.1		Rent Agreement(1)
10.2		Verbal Agreement(1)
10.3		Purchase Agreement(2)
10.4		Goods Sale Agreement(3)
10.5		Loan Agreement(4)
21		Subsidiaries*
31.1		Certification of the Company’s Principal Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002+
31.2		Certification of the Company’s Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002+
32.1		Certification of the Company’s Principal Executive Officer and Principal Financial 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 CALCULATION LINKBASE DOCUMENT*
101.DEF		XBRL TAXONOMY DEFINITION LINKBASE DOCUMENT*
101.LAB		XBRL TAXONOMY LABEL LINKBASE DOCUMENT*
101.PRE		XBRL TAXONOMY PRESENTATION LINKBASE DOCUMENT*

Financial Statements

~~(b)~~The ~~Index~~financial tostatements ~~Exhibits~~filed ~~required~~as bypart of this report are listed under Item ~~601~~8 of ~~Regulation~~this ~~S-K~~report.

+Financial InStatement ~~accordance with SEC Release 33-8238, Exhibit 32.1 is being furnished and not filed.~~Schedules

*	Filed herewith.
(1)	Filed as an exhibit to the Company’s registration statement on Form S-1, as filed with the Securities and Exchange Commission on September 19, 2016 and incorporated herein by this reference.
(2)	Filed as an exhibit to the Company’s registration statement on Form S-1/A, as filed with the Securities and Exchange Commission on December 12, 2016 and incorporated herein by this reference.
(3)	Filed as an exhibit to the Company’s registration statement on Form S-1/A, as filed with the Securities and Exchange Commission on January 23, 2017 and incorporated herein by this reference.
(4)	Filed as an exhibit to the Company’s registration statement on Form S-1/A, as filed with the Securities and Exchange Commission on March 23, 2017 and incorporated herein by this reference.
(5)	Filed as an exhibit to the Company’s Form 8-K, as filed with the Securities and Exchange Commission on January 24, 2020 and incorporated herein by this reference.
(6)	Filed as an exhibit to the Company’s Form 8-K, as filed with the Securities and Exchange Commission on July 10, 2020 and incorporated herein by this reference.

All schedules have been omitted because they are not required, are not applicable, or the required information is included in the financial statements or notes thereto.

26Exhibits

Exhibit	Description
3.1	Articles of Incorporation of the Company, as amended (incorporated by reference to Exhibit 3.1(i) to the Company’s Registration Statement on Form S-1 filed with the Securities and Exchange Commission on September 19, 2016, Exhibit 3.1(ii) to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on January 24, 2020, and Exhibit 3.1(iii) to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on July 10, 2020).
3.2	Bylaws of the Company (incorporated by reference to Exhibit 3.2 to the Company’s Registration Statement on Form S-1 filed with the Securities and Exchange Commission on September 19, 2016).
23.1	Independent Auditor’s Consent
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 pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.**
32.2	Certification of Principal Financial Officer pursuant to 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 (embedded within the Inline XBRL document).*

* Filed herewith.

** Furnished herewith.

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SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) 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.

	BRILLIANT N.E.V CORP. (FORMERLY CLANCY CORP.)
Dated: November 14, 2023	By:	/s/ Xiangying Meng
		Xiangying Meng
		CFO (Principal Financial Officer, and Principal Accounting Officer)

Date: April 28, 2026

~~Pursuant to~~BRILLIANT ~~the~~N.E.V. ~~requirements of the Securities Exchange Act of 1934, this report has been signed below by the following person on behalf of the registrant and in the capacities and on the dates indicated~~CORP.

Signature	Title	Date
/s/ Xiangying Meng	CFO and Director	November 14, 2023
Xiangying Meng	(Principal Financial Officer and Principal Accounting Officer)

By:	/s/ Guangzhe Su
Guangzhe Su
Chief Executive Officer
(Principal Executive Officer)

By:	/s/ Xiangying Meng
Xiangying Meng
Chief Financial Officer
(Principal Financial Officer)

Signature	Title	Date
/s/ Guangzhe Su	President, CEO and Director	November 14, 2023
Guangzhe Su	(Principal Executive Officer)

Filing Compare · BRILLIANT N.E.V. CORP.