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Hong Yuan Holding Group (HGYN): material weakness open 1,763 days
By Russell Tomoum, Ctrl Worx™. Built from its own SEC filings. How the Clock works.
Hong Yuan Holding Group reported ineffective internal control over financial reporting because of a material weakness in 6 filings since Mar 29, 2022. The latest was its 10-K/A for the period ended Dec 31, 2025.
Ctrl Worx Watch List™ status
On the ClockStill filing, and no annual report of its own says the weakness is fixed.
Checked against SEC EDGAR: Oct 29, 2026 · Entry #10527
Causes the company named
Segregation of duties · 6Entity-level and governance · 6
Inadequate staffing and limited working capital prevented proper segregation of duties and board representation.
What the latest filing says
Based on management’s evaluation under the framework, management has concluded that our ICFR was not effective as of December 31, 2025. We identified material weaknesses in our ICFR primarily attributable to (i) lack of segregation of incompatible duties, and (ii) insufficient Board of Directors representation. These weaknesses are attributed to our inadequate staffing during the period covered by this report and our limited working capital, which hindered our ability to hire additional staff. Management has retained an outside, independent financial consultant to record and review all economic data, as well as prepare our financial reports, to mitigate this weakness. Although management will periodically re-evaluate this situation, at this point, it considers that the risk associated with such a lack of segregation of duties and the potential benefits of adding employees to segregate such duties are not cost justified. We intend to hire additional accounting personnel to assist with financial reporting as soon as our finances will allow. This annual report does not include an atte [...]
From the controls section of the 10-K/A filed Sep 14, 2026. Read the full filing on SEC EDGAR.
Company response: Hong Yuan Holding Group can send a statement or a link to its remediation update to russell@ctrlworx.com. We post it here, unedited and dated.
Filings
| Filed | Form | Period | Controls | Causes | Filing |
|---|---|---|---|---|---|
| Sep 18, 2026 | 10-Q | Jun 30, 2026 | Not effective | Not described | EDGAR |
| Sep 14, 2026 | 10-K/A | Dec 31, 2025 | Not effective | Segregation of duties; Entity-level and governance | EDGAR |
| May 8, 2026 | 10-K | Dec 31, 2025 | Not effective | Segregation of duties; Entity-level and governance | EDGAR |
| Jul 3, 2025 | 10-K | Dec 31, 2024 | Not effective | Segregation of duties; Entity-level and governance | EDGAR |
| Apr 9, 2024 | 10-K | Dec 31, 2023 | Not effective | Segregation of duties; Entity-level and governance | EDGAR |
| Mar 31, 2023 | 10-K | Dec 31, 2022 | Not effective | Segregation of duties; Entity-level and governance | EDGAR |
| Mar 29, 2022 | 10-K | Dec 31, 2021 | Not effective | Segregation of duties; Entity-level and governance | EDGAR |
Others on the Clock in the same industry
By SEC industry code: 2821, Plastic Materials, Synth Resins & Nonvulcan Elastomers, then related codes.
- Accustem Sciences Inc. (ACUT) · open since Dec 2021
- ASCENT INDUSTRIES CO. (ACNT) · open since Dec 2021
- BONK, INC. (BNKK) · open since Dec 2021
- China Foods Holdings Ltd. (CFOO) · open since Dec 2021
- Estrella Immunopharma, Inc. (ESLA) · open since Dec 2021
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