1. DESCRIPTION OF BUSINESS HUAHUI EDUCATION GROUP CORPORATION, formerly DUONAS CORP. (HHEG Nevada or the Company) was incorporated in the State of Nevada on September 19, 2014 to start business operations concerned with production of stylish decorative items made from concrete, such as: different sculptures, candleholders, lamps, tabletops, bookcases, vases of different shapes and forms, decorations for the garden; and subsequent selling thereof. A change of control took place on November 2, 2017 from Vladyslav Beinars. Control was obtained by the sale of 2,000,000 shares of the Company common stock from Vladyslav Beinars to Zhongpeng Chen, Shuiyu Zhong, Xihan Huang, Meihua Zhuang, Peina Huang, Yanru He, Yin Ao, Zhanpeng Fang, Liming Huang, Chuhong Huang, Xiaodong Du, Qiaohong Xie, Lizhen Huang, Liyu Zhang, Chuhua Chen, Meina Xie, Meiyun Wang, Ning Xie, Lirong Zhang, Chan Li, Qiongju Ou, Xijuan Huang, Yihao Chen, Huilin Chen, Yulan Chen, Yixiong Chen, Qixia Yao, Baoquan Huang, Wei Xiong, Changli Huang and Wu Lin. In connection with the transaction, Vladyslav Beinars released the Company from all debts owed. Through October 22, 2017, the Companys primary business activity was production of stylish decorative items made from concrete, such as: different sculptures, candleholders, lamps, tabletops, bookcases, vases of different shapes and forms, decorations for the garden; and subsequent selling thereof. Going forward, the Companys operations will be determined and structured by the new investor group. As such, at December 31, 2018, the Company accounted for these related assets, liabilities and results of operations up to October 22, 2017 as discontinued operations. On February 26, 2019, the Company completed the process of redomiciling the Company from Nevada to the Cayman Islands. The Board of Directors has established a wholly owned subsidiary in the Cayman Islands named HUAHUI EDUCATION GROUP LIMITED (HHEG Cayman), and merged the Company into HHEG Cayman. HHEG Cayman is the surviving company. There was no change in the number of outstanding shares of the Companys Common Stock and that each share of HHEG Nevada Common Stock was converted into one ordinary share of HHEG Cayman. On July 2, 2019, the Companys board of directors unanimously approved to modify the Companys accounting fiscal year end from June 30 to December 31. On July 3, 2019 (the Closing Date), HUAHUI EDUCATION GROUP LIMITED (the Company), an exempted company limited by shares under the laws of the Cayman Islands, closed on a share exchange (the Share Exchange) with HUAHUI GROUP STOCK LTD, (HGSL), a Seychelles company limited by shares, and HUAHUI GROUP (HK) CO., LTD (HGHK), a company with limited liability formed under the laws of Hong Kong and a wholly owned subsidiary of HGSL. As a result, HGHK is now a wholly owned subsidiary of the Company. Under the Share Exchange Agreement, on the Closing Date, the Company issued a total of 300,000,000 of its ordinary shares to the HGSL Shareholders in exchange for 100% of the common stock of HGSL. After the closing, the HGSL Shareholders own approximately 99.1% of the Companys outstanding shares and the former shareholders of the Company own approximately 0.9%. Mr. Zihua Wu, the former sole officer and director of the Company, resigned from all positions with the Company immediately before the closing of the Share Exchange and Mr. Junze Zhang was appointed as the Companys President, Chief Executive Officer, Chief Financial Officer and Secretary, as well as a director. Mr. Zhongpeng Chen also was appointed a director of the Company. As a result of the Share Exchange, HGSL became the wholly owned subsidiary of the Company and ZHONGDEHUI (SZ) DEVELOPMENT CO., LTD (ZDSE), HGSLs indirect, wholly owned subsidiary, became the Companys sole operational business. Consequently, the Company believes that the Share Exchange has caused the Company to cease to be a shell company. ZDSE was incorporated as a limited company in the Peoples Republic of China (the PRC) on January 19, 2016. ZDSE is a professional management coaching organization engaged in researching, developing and applying methods for helping individuals to improve their personal and professional leadership skills and effectiveness. ZDSEs clients consist of executive managers from large scale, small and medium-sized enterprises, as well as professionals and employees in various fields. The Company conducts business in one segment which is the provision of educational services in the PRC. As of June 30, 2019, the Companys subsidiaries are as follows: Entity Date of incorporation Date of acquisition Place of incorporation Percentage of legal ownership by the Company Principal activities Huahui Group Stock Limited (HGSL) May 17, 2017 N/A Seychelles 100 % Investment holding Huahui Group Co., Limited (HGCL) May 29, 2017 N/A Seychelles 100 % Investment holding Huahui Group (HK) Co., Limited (HGHK) January 4, 2017 April 20, 2018 Hong Kong 100 % Investment holding Huahui (Shenzhen) Education Management Co., Limited (HEMC) March 28, 2017 April 20, 2018 PRC 100 % Investment holding Shenzhen Huahui Shangxing Education Consulting Co., Limited (HSEC) January 5, 2018 May 4, 2018 PRC 100 % Investment holding Zhongdehui (Shenzhen) Education Development Co., Limited (ZDSE) January19, 2016 June 27, 2018 PRC 100 % Educational services