MGSD — what changed in the latest 10-Q
A section-by-section comparison of MGSD's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-20 vs the prior 10-Q · 2026-02-20
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +26 | −21 | ~3 | 6 |
| Controls & procedures | Text added/removed | 0 | 0 | ~3 | 5 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Market risk (Item 3)
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-20
Three Months Ended March 31, 2026 Compared to Three Months Ended March 31, 2025
The following table summarizes our operating results for three months ended March 31, 2026 and 2025.
Tongzhilian’s revenue was $ 647 during the three months ended March 31, 2026. All of our revenue was generated by our subsidiary Tongzhilian, which engaged solely in product sales throughout the quarter.
Revenue during the three months ended March 31, 2026 decrease by 99% compared to the operating revenue of $71,892 for the three months ended March 31, 2025. Recent revenue was primarily attributable to our sale of products, with 100% of our revenue, or $647, during the three months ended March 31, 2…
For the three months ended March 31, 2026, we realized a gross profit margin of 43%, as our gross profit amounted to $279.
Text removed vs the prior filing · source: 10-Q · 2026-02-20
The following table summarizes our operating results for three months ended December 31, 2025 and 2024.
Tongzhilian’s revenue was $ 24,905 during the three months ended December 31, 2025. All of our revenue was generated by our subsidiary Tongzhilian, which engaged solely in product sales throughout the quarter.
Revenue during the three months ended December 31, 2025 was 98% less than the operating revenue of $1,022,105 for the three months ended December 31, 2024. Recent revenue was primarily attributable to our sale of products, with 100% of our revenue, or $24,905, during the three months ended December …
The cost of revenue attributable to the sale of products was $12,806, which was our procurement cost for products sold. Therefore, For the three months ended December 31, 2025, we realized a gross profit margin of 49%, as our gross profit amounted to $12,099. During the three months ended December 3…
The reasons for the 98% reduction in revenue were twofold. First, the current domestic economic slowdown in China has significantly dampened discretionary consumer spending. Heightened macroeconomic uncertainty—evidenced by sharp increases in gold and silver prices—and widespread pessimism regarding…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice