UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

x (Mark One)

☒  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For Quarterly Period Ended September 30, 2017the quarterly period ended March 31, 2021

or

¨ ☐  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _________ to _________

Commission File No. 333-219776

Delaware		37-1863750
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

8 Derech Hameshi St., Ganne Tiqwa, Israel, 5591179311-7, Tianyu Building, 11 Guangming Road Dongcheng District, Beijing, China 100051

(Address of principal executive offices,Principal Executive Offices, including zip code)

Securities registered pursuant to Section 12(b) of the Act: None

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

YES x NO ¨Yes ☒     No ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (section (§232.405 of this chapter) during the preceding twelve12 months (or for such shorter period that the registrant was required to submit and post such files).

YES ¨ NO xYes ☒     No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company, or an emerging growth company. See the definitions of "large“large accelerated filer," "accelerated filer"” “accelerated filer,” “smaller reporting company,” and "smaller reporting company"“emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one): 

Large accelerated filer	¨☐	Accelerated filer	¨☐
Non-accelerated filer	¨☒	Smaller reporting company	x☒
		Emerging growth company	☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

YES x NO ¨: Yes ☒     No ☐

Indicate the numberAs of May 15, 2021, there were 10,204,000 shares outstanding of each of the issuer’s classes of common stock, aspar value $0.0001, of the latest practicable date. Company issued and outstanding.

Class		Outstanding at November 14, 2017
Common Stock, $.0001 par value		9,000,000

INDEXCHENGDA TECHNOLOGY CO., LTD.

Quarterly Report on Form 10-Q

TABLE OF CONTENTS

SIGNATURES

 14

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

 This Quarterly Report on Form 10-Q (the “Report”), including, without limitation, statements under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These forward-looking statements can be identified by the use of forward-looking terminology, including the words “believes,” “estimates,” “anticipates,” “expects,” “intends,” “plans,” “may,” “will,” “potential,” “projects,” “predicts,” “continue,” or “should,” or, in each case, their negative or other variations or comparable terminology. There can be no assurance that actual results will not materially differ from expectations. Such statements include, but are not limited to, any statements relating to our ability to consummate any acquisition or other business combination and any other statements that are not statements of current or historical facts. These statements are based on management’s current expectations, but actual results may differ materially due to various factors, including, but not limited to:

The forward-looking statements contained in this Report are based on our current expectations and beliefs concerning future developments and their potential effects on us. Future developments affecting us may not be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) and other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

PART I - FINANCIAL INFORMATION

ITEM I —1. FINANCIAL STATEMENTSSTATEMENTS.

New Leap, Inc.

BALANCE SHEET

(USD, Except Share and Par Value Data)

		September 30,				June 30,
		2017				2017
		(Unaudited)				(Audited)
ASSETS
Current assets:
Cash and cash equivalents		$	-			$	-
Total Current assets		$	-			$	-
Total assets		$	-			$	-

LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current Liabilities:
Account payable to related party		$	25,000			$	25,000
Other accounts payable			2,068				-
Promissory note from shareholder			5,077				305
Total current liabilities		$	32,145			$	25,305
Total Liabilities		$	32,145			$	25,305
Stockholders’ Deficit:
Preferred stock; $.0001 par value, 5,000,000 shares authorized, none issued and outstanding			-				-
Common stock; $.0001 par value, 50,000,000 shares authorized, 9,000,000 shares issued and outstanding as of September 30, 2017		$	9,000			$	9,000
Addition paid-in capital			12,600				3,150
Accumulated deficit			(53,745	)			(37,455	)
Total stockholder’s deficit		$	(32,145	)		$	(25,305	)
Total liabilities and stockholders’ deficit		$	-			$	-

The accompanying notes are an integral part of thethese condensed financial statements.

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Chengda Technology Co., Ltd.

Condensed Unaudited Statements of Operations

* Less than $0.01

New Leap, Inc.

STATEMENTS OF OPERATIONS

(USD, Except Share and Earnings Per Share Data)

		Three months ended September 30, 2017				Inception (June 1, 2017) to September 30, 2017
Revenues		$	-			$	-
Cost of revenues			-				-
Gross profit			-				-
Selling, General and Administrative expenses			16,290				53,745
Loss from operations			(16,290	)			(53,745	)
Other income, net			-				-
Loss before provision for income taxes			(16,290	)			(53,745	)
Income tax expense			-				-
Net Loss		$	(16,290	)		$	(53,745	)
Loss per share
Basic and diluted		$	(0.00	)		$	(0.01	)
Weighted average common shares outstanding:
Basic and diluted			9,000,000				9,000,000

The accompanying notes are an integral part of thethese condensed financial statements.statements

New Leap, Inc.

STATEMENTS OF CASH FLOWS

(USD)

		Three months ended September 30, 2017				Inception (June 1, 2017) to September 30, 2017
Cash flow from operating activities:
Net loss		$	(16,290	)		$	(53,745	)
Adjustments to reconcile net loss to net cash used in operating activities:
Contributed services			9,450				21,600
Changes in operating assets and liabilities:
Increase in account payables			2,068				27,068
Net cash used in operating activities		$	(4,772	)		$	(5,077	)
Changes in investment activities			-				-
Cash flow from financing activities:
Promissory note from shareholder		$	4,772			$	5,077
Net cash provided by financing activities		$	4,772			$	5,077
NET CASH DECREASE IN CASH AND CASH EQUIVALENTS			-				-
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD			-				-
CASH AND CASH EQUIVALENTS AT END OF PERIOD		$	-			$	-

The accompanying notes are an integral part of thethese condensed financial statements.statements

Chengda Technology Co., Ltd.

Condensed Unaudited Statements of Changes in Stockholders’ Equity

For the Three Months Ended March 31, 2021

For the Three Months Ended March 31, 2020

The accompanying notes are an integral part of these condensed financial statements

Chengda Technology Co., Ltd.

Notes to the Condensed Financial Statements
March 31, 2021

New Leap, Inc.

NOTES TO FINANCIAL STATEMENTS

(USD In Thousands, Except Shares and Per Share Values)

(Unaudited)

NOTE 1 – ORGANIZATIONALORGANIZATION AND GOING CONCERN:DESCRIPTION OF BUSINESS

Chengda Technology Co., Ltd., (formerly known as New Leap, Inc.) (the "Company") was formedincorporated on June 1, 2017 as a Delaware corporation.

During 2017 the Company issued 9,000,000 shares of its common stock in consideration for a business plan at $0.001 per share. The Company has yet to start operational or research and development activities.

On August 12, 2020, pursuant to a Stock Purchase Agreement (the “SPA”) entered into by and between Xin Jiang (the “Purchaser”) and Itzhak Ostashinsky (the “Seller”), a controlling stockholder as well as Chief Executive Officer, Chief Financial Officer, President, Secretary and director of the Company, the Seller sold to the Purchaser 8,000,000 shares of common stock, par value $0.0001 per share, of the Company, representing 78.4% of the total issued and outstanding shares of common stock as of August 24, 2020, in consideration of $251,177 in cash from the Purchaser’s personal funds (the “Transaction”). In connection with the Transaction, the Seller resigned as Chief Executive Officer, Chief Financial Officer, President, Secretary and director of the Company, effective immediately upon the consummation of the Transaction. Xin Jiang was then appointed as Chief Executive Officer, Chief Financial Officer, President, Secretary and director of the Company. The Transaction resulted in a change in control of the Company.

Effective November 6, 2020, the Company’s name was changed to “Chengda Technology Co., Ltd.” through the filing with the Secretary of State of the State of Delaware a Certificate of Amendment to the Certificate of Incorporation of the Company, which was approved by the Company’s Board of Directors.

After the change in control, the Company plans to implement a new business plan. The Company plans to operate in the field of crowdfundinghealth-related products, with a focus on developing and promoting selenium-infused mineral water and energy mattress. Also, the Company plans to run an online platform for investmentsoffer health services, including health assessments, health consultations, and health recoveries.

The Company is currently evaluating the optimal approaches to implement these plans, including through mergers and acquisitions of health companies in private U.S. companiesChina. Due to the dynamic nature and companies which are publicly traded in the U.S. (both domestic and foreign).global impact of the COVID-19 pandemic, the Company cannot reasonably estimate the timeline to implement its business plan. Until the Company is able to implement its business plan, the Company will remain a shell company.

NOTE 2 – GOING CONCERN

The accompanying condensed financial statements have been prepared assuming thatin conformity with United States generally accepted accounting principles (“U.S. GAAP”), which contemplate continuation of the Company will continue as a going concern. As a start-up, the Company has not generated any revenues and has accumulated losses through March 31, 2021. The Company currently has suffered cumulative losseslimited working capital and negative cash flows from operations since inception. Untildoes not expect to generate revenues in the Company will achieve profitability and revenues, which is uncertain, it intends to finance its operation through the issuance of its shares.near term. These conditions give rise toraise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that may result from the outcome of this uncertainty.

Management anticipates that the Company will be dependent, for the near future, on additional financing to fund operating expenses, primarily loans and/or capital contribution from its principal stockholder. As the Company is a shell company, its operating expenses are limited. Management believes that the financing from its principal stockholder will provide it with the funding to continue as a going concern.

NOTE 23 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited condensed financial statements have been preparedreflect all adjustments, consisting of only normal recurring items, which, in accordancethe opinion of management, are necessary for a fair statement of the results of operations for the periods shown and are not necessarily indicative of the results to be expected for the full year ending December 31, 2021. These unaudited condensed financial statements should be read in conjunction with GAAP. Thethe financial statements and related notes included in the Company’s fiscal year-end isAnnual Report on Form 10-K for the year ended December 31.31, 2020. All numbers in the unaudited condensed financial statements are expressed in US$, except share data and per share data, or otherwise noted.

Use of Estimates

The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenue and expenses during the reporting periods.period. Actual results could differ from those estimates. The Company currently does not have significant estimates and assumptions.

Recent Accounting Pronouncements

From time to time, the FASB or other standards setting bodies issue new accounting pronouncements. Updates to the FASB ASCs are communicated through issuance of an Accounting Standards Update. Unless otherwise discussed, we believe that the impact of recently issued guidance, whether adopted or to be adopted in the future, is not expected to have a material impact on our financial statements upon adoption.

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NOTE 3 – PROMISSORY NOTE FROM SHAREHOLDER

The Company has an outstanding note payable provided byreviewed the sole shareholderfollowing recent accounting pronouncements and sole officer and director which is unsecured and bearsconcluded that they were either not applicable or had no interest. The note is payable upon demand. The outstanding balance underimpact to the note was $5,077 as of September 30, 2017.Company’s financial statements:

NOTE 4 – COMMITMENTS AND CONTINGENCIES

In June 2017, the Company engaged a legal counsel in order to receive legal services concerning the registration statement to be filed with the Securities and Exchange Commission ("SEC"). According to the agreement, the fees will be paid if and only upon receiving the first $25,000 from external investors following the effectiveness of the registration statement. Since this expense was probable it was recorded as a provision and as expenses amounting to $25,000 outstanding at September 30, 2017. The legal counsel is considered to be a related party - see also note 5.

NOTE 5 –– TRANSACTION WITH RELATED PARTY

	A.	During the period from inception (June 1, 2017) and up to the balance sheet date the CEO and sole shareholder devoted to the Company approximately 10 hours per week. The expense incurred by the CEO and sole shareholder on behalf and for the benefit of the Company for the period from inception (June 1, 2017) to September 30, 2017 amounted to $12,600 and was recorded as contribution to equity.
	B.	The services described in note 4 are provided by a related party. The related party is the son of the sole shareholder and provides legal advice to the Company. As of September 30, 2017 the liability amounted to $25,000 – see also note 4.
	C.	The Company leases its office space from its sole officer and director at no charge.
	D.	As of September 30, 2017 the company has an outstanding note payable to the sole officer and director. - See Note 3

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NOTE 4 – SHARE CAPITAL

There were no transactions of common stock and preferred stock during the three months ended March 31, 2021 and 2020, respectively.

During the period ended March 31, 2021, the Company’s CEO and major stockholder, Xin Jiang, made capital contributions of $17,000 (2020: $nil) to the Company for working capital. No additional shares of common stock were issued for these contributions.

NOTE 5 – RELATED PARTY TRANSACTIONS

In addition to the capital contribution disclosed in Note 4, the Company had the following related party transactions:

NOTE 6 – SUBSEQUENT EVENTS

Management has evaluated subsequent events pursuant to the requirements of ASC Topic 855, from the balance sheet date through the date when the financial statements were issued, and determined that no subsequent events occurred that would require adjustment to or disclosure in the financial statements.

ITEM 2.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion contains certainand analysis of our results of operations and financial condition should be read together with our unaudited financial statements that may be deemed “forward-looking statements” withinand the meaning of the Private Securities Litigation Reform Act of 1995. Such statements appear in a number of placesnotes thereto, which are included elsewhere in this Report including, without limitation, “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” These statements are not guarantees of future performance and involve risks, uncertainties and requirements that are difficult to predict or are beyond our control. Forward-looking statements speak only as of the date of this quarterly report. You should not put undue reliance on any forward-looking statements. We assume no responsibility to update the forward-looking statements contained in this quarterly reportAnnual Report on Form 10-Q. The following should also be read10-K for the year ended December 31, 2020 (the “Annual Report”) filed with SEC. Our financial statements have been prepared in conjunctionaccordance with generally accepted accounting principles in the unaudited Financial Statements and notes thereto that appear elsewhere in this report.United States (the “U.S. GAAP”).

Company Overview

Operations

New Leap, Inc., aWe were in the State of Delaware corporation, (“New Leap” “Company” “we,” “us,” or “our”) was incorporated on June 1, 2017. Most of the activity through September 30, 2017 involved efforts in connection with the Company’s registration on Form S-1.

We are a development stage company and have extremely limited financial resources. We have not commenced operation nor have we established a source of equity or debt financing. Our financial statements include a note emphasizing the uncertainty of our ability to remain a going concern.

ResultsOn August 12, 2020, pursuant to a Stock Purchase Agreement (the “SPA”) entered into by and between Xin Jiang (the “Purchaser��) and Itzhak Ostashinsky (the “Seller”), a controlling stockholder as well as Chief Executive Officer, Chief Financial Officer, President, Secretary and director of the Company, the Seller sold to the Purchaser 8,000,000 shares of common stock, par value $0.0001 per share, of the Company, representing 78.4% of the total issued and outstanding shares of common stock as of August 24, 2020, in consideration of $251,177 in cash from Operationsthe Purchaser’s personal funds (the “Transaction”). In connection with the Transaction, the Seller resigned as Chief Executive Officer, Chief Financial Officer, President, Secretary and director of the Company, effective immediately upon the consummation of the Transaction. Xin Jiang was then appointed as Chief Executive Officer, Chief Financial Officer, President, Secretary and director of the Company. The Transaction resulted in a change in control of the Company. 

Selling, GeneralWe plan to operate in the field of health-related products, with a focus on the developing and Administrative Expensespromoting selenium-infused mineral water and energy mattress. In addition, we plan to offer health services, including health assessments, health consultations, and health recoveries.

Selling, generalWe are currently evaluating the optimal approaches to implement these plans, including through mergers and administrative expenses foracquisitions of health products or services companies in China. Due to the period from June 1, 2017 (inception) to September 30, 2017dynamic nature and the three months ended September 30, 2017 were $53,745 and $16,290, respectively.  The expenses were primarily consistedglobal impact of professional services in connection withthe COVID 19 pandemic, we cannot reasonably estimate the timeline to implement our registration on Form S-1.business plans.

Liquidity and Capital ResourcesResults of Operations

The following is a summary of the Company's cash flows used in operating activitiesRevenues

We did not generate any revenue for the three months ended September 30, 2017March 31, 2021 and 2020 and do not expect to generate any revenue until our business plans are implemented.

General and Administrative Expenses

During the three months ended March 31, 2021 and 2020, we incurred $9,050 and $12,314 of general and administrative expenses, respectively. Our general and administrative expenses primarily consisted of auditor fees, officer’s contributed corporate administrative service costs, professional fees and filing fees, which are routine costs associated with a public company for financial reporting requirements. The decrease in the general and administrative expenses in the three months ended March 31, 2021 compared to the same period of last year was due to there were no officer’s contributed corporate administrative service costs after the change of control.

Going Concern

The future of our company is dependent upon our ability to implement our new business plans and initiatives and our ability to generate positive net profits from implementation of our business plans. Management plans to seek additional funding through either equity or debt financings from its principal stockholder to support its operations for the next twelve months. However, there is no assurance that such funds will be available or available on acceptable terms. If adequate funds are not available or are not available on acceptable terms, we may not be able to take advantage of prospective new business endeavors or opportunities, which could significantly and materially restrict our business operations. These conditions raise substantial doubt about the Company’s ability to continue as a going concern.

Management anticipates that the Company will be dependent, for the near future, on additional financing to fund operating expenses, primarily loans and/or capital contribution from its principal stockholder. As the Company is a shell company, its operating expenses are limited. Management believes that the financing from its principal stockholder will provide it with the funding to continue as a going concern.

Liquidity and Capital Resources

Cash Flows from Operating Activities

Net cash used in operating activities was $17,000 for the three months ended March 31, 2021, compared to net cash used in operating activities of $6,154 for the same period of 2020, represented an increase of $10,846 in the net cash outflow in operating activities. This is due to some of the operating expenses in the period from June 1, 2017 (inception) to September 30, 2017:of March 31, 2020 were contributed by the former officer for no cash compensation.

		Three months ended September 30, 2017				June 1, 2017 (inception) to September 30, 2017
Net Loss		$	(16,290	)		$	(53,745	)
Net cash used in operating activities		$	(4,772	)		$	(5,077	)

Cash Flows from Financing Activities

MostFor the three months ended March 31, 2021, net cash generated by financing activities was $17,000, representing capital contributions from the major stockholder to support the operations of our resources and workthe Company. For the three months ended March 31, 2020, net cash generated by financing activities was $6,100, representing advances from the former major stockholder to date have been devoted to planning our business and completing our registration statement.support the Company’s operations.

Commitments and Capital Expenditures

We presently have embarked upon an effort to become a public company and, by doing so, have incurred and will continue to incur additional significant expensesno material commitments for legal, accounting and related services. Once we become a public entity, subject to the reporting requirements of the Exchange Act of 1934, we will incur ongoing expenses associated with professional fees for accounting, legal and a host of other expenses including annual reports and proxy statements, if required. We estimate that these costs will range up to $25,000 per year over the next few years and may be significantly higher if our business volume and transactional activity increases.capital expenditures.

The Company may offer, at its discretion, shares of its common stock to settle professional fees. There can be no assurances,Critical Accounting Policies Involving Management Estimates and we cannot predict the likelihood, that we will be able to settle any professional fees by issuing sharesAssumptions

Our discussion and analysis of our common stock.

Asfinancial condition and results of September 30, 2017 we owed $32,145, $27,068 of which were in connection with professional services related tooperations is based on our registration on Form S-1. The balance of $5,077 was owed tofinancial statements. In preparing our sole shareholder and chief executive officer for expenses incurred on behalf of the Company. There are no other significant liabilities at September 30, 2017.

Recently Issued Accounting Pronouncements

The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might havein conformity with U.S. GAAP, we must make a material impact on its financial position or resultsvariety of operations.

Critical Accounting Policies

The preparation of financial statements and related notes requires us to make judgments, estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosuredisclosures. See Note 3 of contingent assets and liabilities.

An accounting policy is considered to be critical if it requires an accounting estimate to be made based on assumptions about matters that are highly uncertain at the time the estimate is made, and if different estimates that reasonably could have been used, or changes in the accounting estimates that are reasonably likely to occur periodically, could materially impact the financial statements.

Financial Reporting Release No. 60 requires all companies to include a discussion of critical accounting policies or methods used in the preparation of financial statements. There are no critical policies or decisions that rely on judgments that are based on assumptions about matters that are highly uncertain at the time the estimate is made. Note 2 to theour interim financial statements included elsewhere in this prospectus, includes a summary ofReport and the significant accounting policies and methods used inCompany’s Annual Report on Form 10-K for the preparation of our financial statements.

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year ended December 31, 2020.

Going Concern

Our independent registered public accounting firm, which audited our financial statements as of June 30, 2017 and for the period then ended and reviewed our financial statements as of September 30, 2017 and the period then ended, has raised substantial doubt about our ability to continue as a going concern. Therefore, it is possible that even if we keep costs to a minimum we may not be able to continue operations for the next 12 months.

Off-Balance Sheet Arrangements

We do not have not entered into any relationships with unconsolidated entities or financial partnerships, such as entities often referred to as structured finance or special purpose entities, which would have been established for the purpose of facilitating off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources and would be considered material to investors. 

Contractual Obligations

As a "smaller reporting company" as defined by Item 10 of Regulation S-K, the Company is not required to provide this information. arrangements.

ITEM 3.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.RISK

As a "smaller reporting company" as defined by Item 10 of Regulation S-­K, the Company is not required to provide information required by this Item.Not applicable.

ITEM 4.CONTROLS AND PROCEDURES.PROCEDURES

Evaluation of Disclosure Controls and Procedures 

We conducted an evaluation under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures. The term "disclosure controls and procedures", as defined in Rules 13a-15(e) and 15d-15(e) under the Securities and Exchange Act of 1934, as amended ("Exchange Act"), meansprocedures are controls and other procedures of a company that are designed to ensure that information required to be disclosed by the company in theour reports it filesfiled or submitssubmitted under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC`sSEC’s rules and forms. Disclosure controls and procedures also include, without limitation, controls and procedures designed to ensure that information required to be disclosed by ain company in the reports that it filesfiled or submitssubmitted under the Exchange Act is accumulated and communicated to the company's management, including itsour principal executive officer and principal financial officers, or persons performing similar functions, as appropriate,officer, to allow timely decisions regarding required disclosure.

As required by Rules 13a-15 and 15d-15 under the Exchange Act, our principal executive officer and principal financial officer carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures as of March 31, 2021. Based on thisupon their evaluation, our Chief Executive Officerprincipal executive officer and Chief Financial Officerprincipal financial officer concluded as of September 30, 2017, that our disclosure controls and procedures are(as defined in Rules 13a-15 (e) and 15d-15 (e) under the Exchange Act) were not effective at a reasonable assurance level and are designed to provide reasonable assurance that the controls and procedures will meet their objectives due to the following material weaknesses, described below. However, it should be noted that the designwhich are indicative of any systemmany small companies with limited resources: (i) lack of proper segregation of duties and risk assessment process; (ii) lack of formal documentation in internal controls is based in part upon certain assumptions about the likelihoodover financial reporting; and (iii) lack of future events,independent directors and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions, regardless of how remote.

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an audit committee.

Management's Report on Internal Control over Financial Reporting

Our management is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act. Our internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.  The internal controls for the Company are provided by executive management's review and approval of all transactions.  Our internal control over financial reporting also includes those policies and procedures that:

	(1)	pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of our assets;
	(2)	provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with U.S. GAAP, and that our receipts and expenditures are being made only in accordance with the authorization of our management; and
	(3)	provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of our assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Management assessed the effectiveness of the Company's internal control over financial reporting as of September 30, 2017. In making this assessment, management used the criteria set forth by the Committee of Sponsoring Organizations ("COSO") of the Treadway Commission in Internal Control-Integrated Framework. Management's assessment included an evaluation of the design of our internal control over financial reporting and testing of the operational effectiveness of these controls.

Based on this assessment, management has concluded that as of September 30, 2017, our internal control over financial reporting was not effective to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with U.S. generally accepted accounting principles due to the existence of the following material weaknesses:

	·	Lack of segregation of duties
	·	Lack of audit committee and independent directors
	·	Management is dominated by a single individual without adequate compensating controls providing for multiple levels of supervision and review

Although we are unable to meet the standards under COSO because of the limited resources available to a company of our size, we are committed to improving our financial organization. As funds become available, we will undertake to: (1) create a position to segregate duties consistent with control objectives, (2) increase our personnel resources and technical accounting expertise within the accounting function (3) appoint one or more independent directors to our board of directors who shall be appointed to a Company audit committee resulting in a fully functioning audit committee who will undertake the oversight in the establishment and monitoring of required internal controls and procedures; and (4) prepare and implement sufficient written policies and checklists which will set forth procedures for accounting and financial reporting with respect to the requirements and application of US GAAP and SEC disclosure requirements.  

We will continue to monitor and evaluate the effectiveness of our disclosure controls and procedures and our internal control over financial reporting on an ongoing basis and are committed to taking further action and implementing additional enhancements or improvements, as necessary and as funds allow.

This quarterly report does not include an attestation report of the Company's registered public accounting firm regarding internal control over financial reporting. Management's report was not subject to attestation by the Company's registered public accounting firm pursuant to temporary rules of the SEC that permit the Company to provide only management's report in this quarterly report.

Changes in Internal Control over Financial Reporting

There were no changes in the Company’s internal control over financial reporting that occurred since June 1, 2017 (inception)during the quarter ended March 31, 2021 that have materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

PART II - OTHER INFORMATION

PART II -- OTHER INFORMATIONITEM 1.LEGAL PROCEEDINGS.

None.

Item 1. Legal Proceedings.ITEM 1A.RISK FACTORS.

To the best of our knowledge, the Company is not a party to any legal proceeding or litigation. Not applicable

Item 1A. Risk Factors.ITEM 2.UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

As a “smaller reporting company”, we are not required to provide the information required by this Item.None.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.ITEM 3.DEFAULTS UPON SENIOR SECURITIES.

There were no sales of equity securities during the period covered by this report on Form 10-Q. Our registration statement on Form S-1, file number 333-219776, became effective on October 20, 2017.  The offering has yet to commence as the Company is still working on the list of potential investors it wishes to approach. None.

Item 3. Defaults upon Senior Securities.ITEM 4.MINE SAFETY DISCLOSURES.

Not applicable.

ITEM 5.OTHER INFORMATION.

None.

Item 5. Other Information.

None.  

12

Table of Contents

ITEM 6.EXHIBITS.

Item 6. Exhibits.The following exhibits are filed as part of, or incorporated by reference into, this Quarterly Report.

No.		Description of Exhibit
313.1		Certificate of Incorporation, incorporated herein by reference Exhibit 3.1 to the Company’s Form S-1 filed with the SEC on August 8, 2017
3.2		By-Laws, incorporated herein by reference Exhibit 3.2 to the Company’s Form S-1 filed with the SEC on August 8, 2017
3.3		Certificate of Amendment to Certificate of Incorporation, incorporated herein by reference Exhibit 3.1 to the Company’s Current Report on Form 8-K filed with the SEC on November 6, 2020.
31.1*		Certification of President pursuantPrincipal Executive Officer and Principal Financial Officer Pursuant to Securities Exchange Act Rule 13a-14Rules 13a-14(a) and 15d-14.15(d)-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1**
32	Certification of the Company’s ChiefPrincipal Executive Officer and ChiefPrincipal Financial Officer pursuantPursuant to 18 U.S.C. Section 1350, as Adoptedadopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.2002
101.INS*
101.INS **	XBRL Instance Document
101.SCH ** 101.CAL*	XBRL Taxonomy Extension Schema Document
101.CAL **	XBRL Taxonomy Extension Calculation Linkbase Document
101.SCH*		XBRL Taxonomy Extension Schema Document
101.DEF **101.DEF*		XBRL Taxonomy Extension Definition Linkbase Document
101.LAB*
101.LAB **	XBRL Taxonomy Extension LabelLabels Linkbase Document
101.PRE*
101.PRE **	XBRL Taxonomy Extension Presentation Linkbase Document

___________ 

** XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections. Filed herewith

**Furnished herewith

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	NEW LEAP, INC.CHENGDA TECHNOLOGY CO., LTD.
Date: November 14, 2017May 17, 2021	By:	/s/ Itzhak Ostashinsky
		Itzhak Ostashinsky/s/ Xin Jiang
	Name:	Xin Jiang
	Title:	Chief Executive Officer, President and Chief Financial Officer and President

14		(Principal Executive Officer and Principal Financial and Accounting Officer)