Brilliant N.E.V. Corp.

Overview

• Incorporated in Nevada on March 22, 2016 (formerly Clancy Corp.).
• Currently functions as a shell company with no active operating business.

Current operations and status (as of July 31, 2024)

• No operating revenue.
• No full-time employees; management, reporting, and administrative duties are handled by officers and outside professionals.
• No active PRC subsidiaries; operations in China ceased in June 2023.
• Shanghai Clancy and Beijing Clancy were transferred to Hongshan Yuanda Limited effective June 30, 2023. As of July 31, 2024, Shanghai Clancy had no operations or assets.
• The company has not commenced any replacement operating business following the June 2023 change in control.

Corporate history and control

• On June 26, 2023, 79,700,000 shares (approximately 52.056% of outstanding common stock) were transferred to Mr. Guangzhe Su, resulting in a change in control.
• On July 28, 2023, the company amended its articles of incorporation to change its name from Clancy Corp. to Brilliant N.E.V. Corp.
• The company is focused on identifying and completing a business combination, acquisition, or other strategic transaction.

Strategy and potential transactions

• Objective is to preserve reporting-company status while evaluating business opportunities.
• Any future operating business is expected to require additional capital and/or issuance of equity securities, which could substantially dilute existing shareholders.
• A transaction could result in changes to the composition of the board and management.

Financial status

• No operating revenue reported.
• Management and reporting are supported by officers and outside professionals rather than full-time staff.
• Related-party advances have funded reporting, compliance, and administrative expenses to date.
• The company has incurred recurring losses and has an accumulated deficit.
• Continued funding from related parties is not guaranteed.
• The company faces going-concern risk and may be unable to meet reporting obligations or pursue a strategic transaction if funding is not available.

Regulatory and market status

• The company is delinquent in Exchange Act reporting, which may affect marketability and raises regulatory risk.
• No securities are registered under Section 12 of the Exchange Act; trading, if any, may be sporadic and illiquid, and the company could be classified as a penny stock.
• Principal executive office is located in Hangzhou, Zhejiang Province, China. The company identifies potential risks associated with PRC regulatory changes and government involvement.

Employees and operations

• As of July 31, 2024, there are no full-time employees.
• Operations are managed by company officers with support from outside service providers.

Properties

• Principal executive office: Room 805, West Building 4, Xintiandi Business Center, Gongshu District, Hangzhou City, Zhejiang Province, China.
• The company does not own real property; current office arrangements are adequate for its limited needs.

Legal and risk considerations

• No material pending legal proceedings as of July 31, 2024.
• Cybersecurity governance is limited due to minimal operations; no material incidents have been reported.