Tian'an Technology Group Ltd transitioned its core business toward graphene production and health therapy integration starting in 2022, leveraging far-infrared properties of graphene. Despite innovative product positioning, the company encountered intensified competition, sharp declines in related-party transactions, and weakened third-party demand leading to a 58.8% drop in revenue in 2025. Operating losses widened amid only modest reductions in operating expenses. Liquidity constraints persist with a current ratio below 1 and net negative working capital, although operating cash flow turned positive for the first time in recent years. The company faces risks from internal control weaknesses, currency exposure, and funding uncertainty as it pursues restructuring initiatives.