OTC: WYGC
Wenyuan Group Corp.CIK 0000723533 · Management Consulting Services
Wenyuan Group Corp. (formerly Longwen Group Corp.) (the “Company”), was originally incorporated as Expertelligence, Inc in the State of California on March 31, 1980 and reincorporated in the State of Nevada on November 17, 2005. On January 23, 2017, after a series of various name changes, the… About this business →
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About Wenyuan Group Corp.
Source: Item 1 (Business) from the 10-K filed May 8, 2026. Description as filed by the company with the SEC.
Item
1. Description of Business.
Organization
and Corporate History
Wenyuan
Group Corp. (formerly Longwen Group Corp.) (the “Company”), was originally incorporated as Expertelligence, Inc in the State
of California on March 31, 1980 and reincorporated in the State of Nevada on November 17, 2005. On January 23, 2017, after a series of
various name changes, the Company amended its Articles of Incorporation (“Charter Amendment”) to affect its name change of
Longwen Group Corp. with trading symbol of “LWLW”. On April 23, 2024, pursuant to the Company’s majority shareholder
consent and board approval dated on April 5, 2024, the Company amended its Article of Incorporation with Nevada State and changed its
name to Wenyuan Group Corp. On January 21, 2025, pursuant to a review by the Financial Industry Regulatory Authority (“FINRA”),
the Company’s name was officially changed to Wenyuan Grop Corp. with the OTC Markets, and the Company’s stock symbol was
changed to “WYGC” on the same date.
The
Company underwent a change of control on January 21, 2016, at which time Harold Minsky resigned in all officer positions. G. Reed Petersen
and White Rim Cattle Company LLC each purchased 25,000,000 shares of common stock of the Company from Harold Minsky. Mr. Petersen is
the Member Manager of White Rim Cattle Company, LLC and thus can be considered a control person of all 50,000,000 shares of stock of
the Company. Pursuant to a Board of Directors meeting, Mr. Petersen was elected to and accepted all the officer positions previously
held by Harold Minsky.
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On
or about April 5, 2016, the Company affected a 1 for 750 share reverse split of its issued and outstanding common stock. On such date,
the Company’s common stock was reduced from 95,164,140 to 127,061 shares outstanding.
Effective
November 29, 2016, G. Reed Peterson sold 66,667 shares of common stock of the Company to Longwen Group Corporation (Cayman Island), a
Cayman Island company (“Longwen Cayman”). All of the shares held by Longwen Cayman are restricted securities. As a result
of the transactions, Mr. Petersen no longer owns any of the Company’s capital stock or securities and he and his affiliates waived
all loans and other amounts due to the Company. In addition, on such date, Mr. Petersen resigned in all officer capacities from the Company,
and Mr. Xizhen Ye, President of Longwen Cayman, was appointed as a sole Director of the Company and President and Chief Executive Officer
and Chief Financial Officer of the Company. On August 22, 2018, Mr. Lizhong Lu was appointed as a director of Board.
From
August 2018 to June 2021, the Company was seeking potential business mergers and acquisitions in order to increase its value of the common
stock. However, due to the impact of the Covid-19 pandemic, the progress was delayed and the target was not successfully achieved.
On
June 9, 2021, Anthony Lombardo (“Lombardo”) filed an Application for Appointment of Custodian (“Application”)
with the Eighth Judicial District Court in Nevada to request the custodianship of the Company due to the Company’s non-response
and late filing with the State of Nevada. On June 24, 2021, a hearing was held on this Application, where Lombardo was named temporary
custodian of the Company. Subsequently after Lombardo’s custodianship, Deanna Johnson was appointed as the CEO, CFO and Secretary
of the Company. On September 1, 2021, Deanna Johnson appointed Joseph Passalaqua (“Joseph”) as CEO, CFO and Secretary and
resigned from all positions in the Company, On October 25, 2021, Mr. Xizhen Ye (“Ye”), who was the officer and director of
the Company prior to Lombardo’s custodianship, and Longwen Group Corporation, a Cayman Island corporation, filed a Motion to Dissolve
Custodianship (“Motion”) with the Eighth Judicial District Court of Nevada State. On January 12, 2022, in accordance with
a Settlement Agreement regarding Lombardo’s custodianship, Mr. Ye was reinstated his positions as the officer and director of the
Company, along with the reinstatement of the other Company’s director, Lizhong Lu, who was also in place prior to Lombardo’s
custodianship. On February 9, 2022, pursuant to the Settlement Agreement, Joseph transferred 65,000,000 common stocks of the Company
owned by him to Mr. Ye. On February 17, 2022, the Eighth Judicial District Court formally dismissed Lombardo’s custodianship for
the Company.
On
February 23, 2022, the Company entered into an Acquisition Agreement with a third-party individual to acquire the 100% ownership of Hangzhou
Wenyuan Enterprise Management Co., Ltd. (“Hangzhou Wenyuan”) (FKA: Hangzhou Longwen Enterprise Management Co., Ltd or “Hangzhou
Longwen”), a wholly foreign-owned enterprise (“WOFE”) in Hangzhou, the People’s Republic of China (the “PRC”),
for a total cash consideration of $1,000. As a result of the acquisition, Hangzhou Wenyuan became the Company’s wholly-owned subsidiary
in the PRC. Hangzhou Wenyuan was originally registered on January 4, 2012, and has minimum operations since its inception. The Company
recognized $993 goodwill upon consummated the acquisition. On February 27, 2024, Hangzhou Longwen Enterprise Management Co., Ltd changed
its name to Hangzhou Wenyuan Enterprise Management Co., Ltd. through Hangzhou Market Supervision and Administration Bureau in China.
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On
October 11, 2022, the Company and its subsidiary, Hangzhou Wenyuan entered into an Acquisition Agreement with a third-party individual
to acquire 100% ownership of Hangzhou Wenyuan Art and Culture Co., Ltd. (“HWAC”) (fka. Hangzhou Yusu Trading Co., Ltd. or
“Hangzhou Yushu”), a limited liability company in Hangzhou, the People’s Republic of China (the “PRC”),
for a total cash consideration of RMB 1,000 or about USD $141. Upon consummated HWAC became Hangzhou Wenyuan’s wholly owned subsidiary
in the PRC. HWAC was originally registered on April 20, 2020 and has had minimum operations since its inception. The Company recognize
goodwill of $139 upon consummated the acquisition. On April 10, 2024, Hangzhou Yusu was renamed to Hangzhou Wenyuan Art and Culture Co.,
Ltd (“HWAC”).
On
March 3, 2023, Hangzhou Wenyuan established a new subsidiary, Hangzhou Wenyuan Internet Technology Co., Ltd. (“HWIT”) (fka.
Huzhou Wohong Fishery Co., Ltd. or “HWF”), to operate the aquacultural breeding, wholesale and retail of aquaculture products
and etc. Due to the change in the economic situation and lower-than-expected sales of aquacultural products, our management decided to
change the HWF’s operations and on March 27, 2024, HWF entered into an agreement with a counterparty to sell certain assets and
liabilities of HWF. HWF was identified as discontinued operations with aquacultural products sales. Such assets and liabilities are classified
as assets and liabilities held for sale, and the sale was closed on March 27, 2024.
The
following diagram illustrates our corporate structure as of May 5, 2026.
●
Wenyuan
Group Corp. (fka. Longwen Group Corp.), a Nevada holding company, was originally incorporated as Expertelligence, Inc in the State
of California on March 31, 1980 and reincorporated in the State of Nevada on November 17, 2005.
●
Hangzhou
Wenyuan Enterprise Management Co., Ltd. (“Hangzhou Wenyuan” or the “WOFE”) (fka. Hangzhou Longwen Enterprise
Management Co., Ltd or “Hangzhou Longwen”), a wholly foreign-owned enterprise established in the PRC on January 4, 2012,
and now is 100% directly owned by Wenyuan Group Corp.
●
On
October 11, 2022, the Company and its subsidiary, Hangzhou Wenyuan entered into an Acquisition Agreement with a third-party individual
to acquire 100% ownership of Hangzhou Wenyuan Art and Culture Co., Ltd. (“HWAC”) (fka. Hangzhou Yusu Trading Co., Ltd.
or “Hangzhou Yushu”), a limited liability company in Hangzhou, the People’s Republic of China (the “PRC”).
Upon consummated, HWAC became Hangzhou Wenyuan’s wholly owned subsidiary in the PRC. HWAC was originally registered on April
20, 2020 and has minimum operations since its inception until the acquisition.
●
On
March 3, 2023, Hangzhou Wenyuan established a new subsidiary, Hangzhou Wenyuan Internet Technology Co., Ltd. (“HWIT”)
(fka. Huzhou Wohong Fishery Co., Ltd. or “HWF”), to operate the aquacultural breeding, wholesale and retail of aquaculture
products and etc. Due to the change of the economic situation and the sales of aquacultural products is not as expected, the management
intended to change its operations and subsequently on March 27, 2024, the Company entered into an agreement with a counterparty to
sell certain assets and liabilities of HWF.
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General
Business Plan
The
Company’s current primary objective is to engage in cultural and health product sales, as well as to provide project development
and management in culture fields, including antique project promotion and development, traditional magazine project cooperation and development,
the marketing and development of audio and visual products and etc. Since the fourth quarter of 2022, the Company also entered into the
E-commerce market and the aquaculture product sales industry but the aquaculture sales segment of the Company was subsequently discontinued
by the decision of the management on March 27, 2024, due to the change of the economic situation and the sales of aquacultural products
is not as expected. From the first quarter of year 2024, the Company began to sell cultural and health products through its subsidiary
Hangzhou Wenyuan.
1.
In December 2022, the Company’ subsidiary, HWAC, worked with a third-party
platform developer, formally launched our online store, Huanyumeiyuan Mall (the “HYMY”), through Tencent’s Wechat platform.
From the first quarter of year 2024, the Company began to sell cultural and health products through HWAC. During the years ended December
31, 2025 and 2024, we have total sales of USD $24,627 and $60,285, respectively.
2.
On
March 3, 2023, Hangzhou Wenyuan established a new subsidiary, Hangzhou Wenyuan Internet Technology Co., Ltd. (“HWIT”)
(fka. Huzhou Wohong Fishery Co., Ltd. or “HWF”), to operate the aquacultural breeding, wholesale and retail of aquaculture
products and etc. Due to the change of the economic situation and the sales of aquacultural products is not as expected, the management
intended to change its operations and subsequently on March 27, 2024, the Company entered into an agreement with a counterparty to
sell certain assets and liabilities of HWF. HWF has been identified as discontinued operations with aquacultural products.
Sales
and Marketing
During
the year 2025, our main revenues are mainly derived from cultural and health products sales through HWAC. Our President, Mr. Ye is an
excellent industry professional in the cultural and health product sales and project management and development field for more than 20
years. We believe he has the wealth of experience and contacts to help the Company to expand our business.
Competition
The
cultural and health product market is highlight competitive and many large companies of same type or chain stores may provide more products
or after-sales services than we do currently. In order to successfully compete in our industry, we will need to:
●
Retain
more experienced employees of the cultural and health product market;
●
Raise
funds to support our business plan;
●
Set
up an effective platform and sales channel to promote our business strategy;
However,
there can be no assurance that even if we do these things, we will be able to compete effectively with the other companies in our industry.
We believe that we have the required management expertise in the cultural and health product industry with good marketing strategy and
compatible service package.
Government
Regulations
Our
wholly owned subsidiary, Hangzhou Wenyuan, HWAC and HWF, are incorporated and operating in mainland China. Hangzhou Wenyuan, HWAC and
HWF have received all permission required to obtain from Chinese authorities to operate its current business in China, including Business
License and Bank Account Open Permit.
Intellectual
Property
We
own no intellectual property as of December 31, 2025.
Employees
As
of May 5, 2026, we have five employees in China. Meanwhile, we have also engaged accounting, legal, consultant and other part-time and
occasional services.
Reports
to Security Holders
The
Company’s documents filed with the Securities and Exchange Commission may be inspected at the Commission’s principal office
in Washington, D.C. Copies of all or any part of the registration statement may be obtained from the Public Reference Section of the
Securities and Exchange Commission, 100 F Street N.E., Washington, D.C. 20549. Call the Commission at 1-800-SEC-0330 for further information
on the operation of the public reference rooms. The Securities and Exchange Commission also maintains a web site at http://www.sec.gov
that contains reports, proxy statements and information regarding registrants that file electronically with the Commission. All of the
Company’s filings may be located under the CIK number 00011596.
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