{"url_path":"/sec/cfoo/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-15","source_url":"https://www.sec.gov/Archives/edgar/data/1310630/0001493152-26-023674-index.html","accession_number":"0001493152-26-023674","cik":"0001310630","ticker":"CFOO","issuer_name":"China Foods Holdings Ltd.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1310630/0001493152-26-023674-index.html","primary_entity_key":"0001310630","primary_entity_name":"China Foods Holdings 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EXCHANGE COMMISSION**\n\n**Washington,\nD.C. 20549**\n\n \n\n**FORM\n10-Q**\n\n \n\n☒ **QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\nFor\nthe quarterly period ended March 31, 2026 or\n\n \n\n☐ **TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\nFor\nthe transition period from __________to _________\n\n** **\n\n**001-32522**\n\nCommission\nfile number\n\n \n\n**China\nFoods Holdings Ltd.**\n\n(Exact\nname of registrant as specified in its charter)\n\n \n\n**Delaware**\n \n84-1735478\n\nState or other jurisdiction\nof\n \n(I.R.S. Employer\n\nincorporation or organization\n \nIdentification No.)\n\n \n \n \n\nRoom 2301A, China\nResources Building,\n \n \n\n26 Harbour Road,\n \n\nWanchai, Hong Kong\n \n0000\n\n(Address\nof principal executive offices)\n \n(Zip\nCode)\n\n \n\n**(852)\n3618-8608**\n\n Registrant’s\ntelephone number, including area code\n\n \n\n \n\n(Former\nname, former address and former fiscal year, if changed since last report)\n\n \n\nSecurities\nregistered pursuant to Section 12(b) of the Act:\n\n \n\nTitle\nof each class\nTrading\nSymbol\nName\nof each exchange on which registered\n\nCommon\nStock\n \nCFOO\n \nOTC\nPink\n\n \n\nIndicate\nby check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange\nAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)\nhas been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\n\n \n\nIndicate\nby check mark whether the registrant has submitted electronically on its corporate Web site, if any, every Interactive Data File required\nto be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter\nperiod that the registrant was required to submit such files). Yes ☒ No ☐\n\n \n\nIndicate\nby check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting\ncompany. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,”\nand “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n \n\nLarge\naccelerated filer\n☐\nAccelerated\nfiler\n☐\n\nNon-accelerated\nfiler\n☐\nSmaller\nreporting company\n☒\n\n \n \nEmerging\ngrowth company\n☐\n\n \n\nIf\nan emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying\nwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\n\n \n\nIndicate\nby check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\n\n \n\nState\nthe aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which\nthe common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant’s\nmost recently completed second fiscal quarter. The Registrant’s shares were last sold at a price of $0.66 per share. Although the\nRegistrant’s stock has very few trades and limited volume, based on the last sales price of $0.66 shares held by non-affiliates\nwould have a market value of $863,939.\n\n \n\nAs\nof May 15, 2026, the Registrant had 20,252,309 shares of common stock issued and outstanding.\n\n \n\nNo\ndocuments are incorporated into the text by reference.\n\n \n\n \n\n \n\n \n\n \n\n \n\n**NOTES\nREGARDING OUR COMPANY**\n\n \n\n**Forward\nLooking Statements**\n\n \n\nThis\nperiodic report contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995\nwith respect to the financial condition, results of operations, business strategies, operating efficiencies or synergies, competitive\npositions, growth opportunities for existing products, plans and objectives of management. Statements in this periodic report that are\nnot historical facts are hereby identified as forward-looking statements. Our Company and our representatives may from time to time make\nwritten or oral statements that are “forward-looking,” including statements contained in this Quarterly Report and other\nfilings with the Securities and Exchange Commission and in reports to our Company’s stockholders. Management believes that all\nstatements that express expectations and projections with respect to future matters, as well as from developments beyond our Company’s\ncontrol including changes in global economic conditions are forward-looking statements within the meaning of the Act. These statements\nare made on the basis of management’s views and assumptions, as of the time the statements are made, regarding future events and\nbusiness performance. There can be no assurance, however, that management’s expectations will necessarily come to pass. Factors\nthat may affect forward-looking statements include a wide range of factors that could materially affect future developments and performance,\nincluding the following:\n\n \n\nChanges\nin Company-wide strategies, which may result in changes in the types or mix of businesses in which our Company is involved or chooses\nto invest; changes in U.S., global or regional economic conditions; changes in U.S. and global financial and equity markets, including\nsignificant interest rate fluctuations, which may impede our Company’s access to, or increase the cost of, external financing for\nour operations and investments; increased competitive pressures, both domestically and internationally; legal and regulatory developments,\nsuch as regulatory actions affecting environmental activities; the imposition by foreign countries of trade restrictions and changes\nin international tax laws or currency controls; adverse weather conditions or natural disasters, such as hurricanes and earthquakes;\nand labor disputes, which may lead to increased costs or disruption of operations.\n\n \n\nThis\nlist of factors that may affect future performance and the accuracy of forward-looking statements are illustrative, but by no means exhaustive.\n\n \n\nAccordingly,\nall forward-looking statements should be evaluated with the understanding of their inherent uncertainty.\n\n \n\n**Disclosures\nRelated to Our Chinese Operations**\n\n \n\nChina\nFoods Holdings Ltd. (the “Company”, “CFOO”, or “we”) was incorporated in Delaware on January 10,\n2019. The Company is a Delaware holding company and we conduct our primary operations in China through our wholly owned subsidiary Guangzhou\nXiao Xiang Health Industry Company Limited, a limited liability company organized under the laws of China on March 8, 2017 (“GXXHIC”).\nGXXHIC is wholly owned by Alpha Wellness (HK) Limited, a limited liability company organized under the laws of Hong Kong on April 24,\n2019, which is in turn wholly owned by Elite Creation Group, a limited liability company formed under the laws of the British Virgin\nIslands formed on September 5, 2018. Alpha Wellness (HK) Limited and Elite Creation Group are holding companies without operations and\nare wholly owned by the Company.\n\n \n\nSubstantially\nall of our operations are conducted in China, and are governed by Chinese laws, rules and regulations. Our subsidiary, GXXHIC, is subject\nto Chinese laws, rules, and regulations. Uncertainties with respect to the interpretation and enforcement of Chinese laws, rules and\nregulations could have a material adverse effect on us. Risks and uncertainties arising from the legal system in China, including risks\nand uncertainties regarding that the rules and regulations in China can change quickly with little advance notice and that the Chinese\ngovernment may intervene or influence our operations at any time, could result in a material adverse change in our operations and the\nvalue of our securities.\n\n \n\nWe\ndo not believe that GXXHIC is in violation of any laws, rules or regulations but since these newly enacted rules are still evolving,\nwe cannot assure you that our business operations comply with such regulations and authorities’ requirements in all respects during\nthe development of these new rules. However, in terms of business operation, GXXHIC expects to adapt to the newly issued rules and take\ndependent measures to comply with the laws and regulations of the Chinese authorities. The People’s Republic of China (the “PRC”)\ngovernment’s authority in regulating our operations and its oversight and control over offerings and listings conducted overseas\nby, and foreign investment in, China-based issuers could significantly limit or completely hinder our ability to offer or continue to\noffer securities to investors. Implementation of industry-wide regulations in this nature may cause the value of such securities to significantly\ndecline or be worthless. Risks and uncertainties arising from the legal system in China, including risks and uncertainties regarding\nthe enforcement of laws and quickly evolving rules and regulations in China, could result in a material adverse change in our operations\nand the value of our securities. But so far, the current operation and securities value of CFOO are stable, and we believe that its risks\nare to the Company are manageable.\n\n \n\nGXXHIC\nhas received a Business License from the relevant department of the State Administration for Market Regulation. Apart from the Business\nLicense, GXXHIC may be subject to additional licensing requirements for our business operation due to the uncertainties of interpretation\nand implementation of relevant laws and regulations and the enforcement practice by relevant government authorities.\n\n \n\nFor\nmore information on these risks and other risks relating to our company, please see our 2025 Annual Report on Form 10-K for the year\nended December 31, 2025.\n\n \n\n**The\nHolding Foreign Companies Accountable Act**\n\n \n\nThe\nHolding Foreign Companies Accountable Act (the “HFCAA”), was enacted on December 18, 2020. The HFCAA requires that the Public\nCompany Accounting Oversight Board (the “PCAOB”) determine whether it is unable to inspect or investigate completely registered\npublic accounting firms located in a non-U.S. jurisdiction because of a position taken by one or more authorities in that jurisdiction.\nOur auditor through April 9, 2024, HKCM & CPA Co., is based in Hong Kong and is subject to the determinations announced by the PCAOB\non December 16, 2021 and the HFCAA. On April 9, 2024, the Company engaged an auditor, Olayinka Oyebola and Co., a PCAOB approved auditing\nfirm based in Lagos, Nigeria. On October 17, 2024, the Company engaged a new auditor J&S Associate PLT a PCAOB approved auditing\nfirm based in Kuala Lumpur, Malaysia. On March 5, 2026, J&S Associate PLT had resigned as the Company’s\nauditor. On March 20, 2026, the Company engaged a new auditor BZ CPA Inc as its new auditor which is a PCAOB approved auditing firm based\nin Dallas, Texas USA. On December 16, 2021, the PCAOB reported its determination that it was unable to inspect or investigate\ncompletely registered public accounting firms headquartered in the PRC and Hong Kong, because of positions taken by PRC authorities in\nthose jurisdictions. On March 30, 2022, based on this determination, the Company was transferred to the SEC’s “Conclusive\nlist of issuers identified under the HFCA.” Since our auditor at the time was located in Hong Kong, a jurisdiction where the PCAOB\nhas been unable to conduct inspections without the approval of the Chinese authorities, our auditor was not currently inspected by the\nPCAOB. The HFCAA states that if the SEC determines that we have filed audit reports issued by a registered public accounting firm that\nhas not been subject to inspection by the PCAOB for two consecutive years beginning in 2021, the SEC shall prohibit our shares from being\ntraded on a national securities exchange or in the over-the-counter trading market in the United States. The related risks and uncertainties\ncould cause the value of our shares to significantly decline or be worthless.\n\n \n\n \n\n \n\n** **\n\n**Table of Contents**\n\n** **\n\n \n \nPage\n\n \n \nNo.\n\n \n \n \n\n \n**PART\nI – FINANCIAL INFORMATION**"}