Tian'an Technology Group Ltd

Distressed China graphene/health-therapy micro-cap with collapsing revenue, near-zero cash, and negative working capital.

Strengths

• Positive operating cash flow this year (OCF margin 69th pct) from receivable/advance unwinds
• Decent gross margin 34.6%

Risks

• Cash only ~$50K (3rd pct); negative working capital (-$72K); current ratio 0.89
• Revenue down 58.8% (4th pct), swung to net loss; related-party sales evaporated (33%→2%)
• Going-concern-adjacent liquidity; ROE 1.25 is a tiny-equity artifact, not strength

Notable findings

• Net lossNet loss (net margin -12.2%)
• Weak liquidityCurrent ratio 0.89 (<1)
• Customer concentration~33% of revenue from one customer/distributor — As of December 31, 2025, one customer accounted for 2% of our revenues, as compared to 2025 where one customer accounted for 33% of our revenues
• Revenue declineRevenue -58.8% YoY