| Schedule of Related Party Transactions and Balances |
Nature of relationships with related parties | Name | | Relationship with the Group | | New Harvest Investment Holdings Limited | | Under the common control of Mr. Sit Hon, ceased to be related party since October 29, 2024 | | Top Pride International Limited | | Under the common control of Mr. Sit Hon, ceased to be related party since October 29, 2024 | | Mr. Sit Hon | | Former controlling shareholder of Top Win Hong Kong from October 25, 2018 to October 29, 2024, and former director of Top Win Hong Kong from April 19, 2018 to October 29, 2024 | | Mr. Ngai Kwan | | Director of the Company since August 7, 2024 | Transactions with related parties | | | | | For the Years Ended
December 31, | | | Name | | Nature | | 2024 | | | 2023 | | | 2022 | | | New Harvest Investment Holdings Limited(1) | | Lease expense of the office
premise | | $ | 64,078 | | | $ | 76,636 | | | $ | 76,623 | | | Top Pride International Limited(2) | | Lease expense of the
warehouse | | | — | | | | 42,150 | | | | 42,143 | | | Top Pride International Limited(3) | | Inventory management
service | | | — | | | | — | | | | 85,562 | | | Mr. Sit Hon(4) | | Transfer of life insurance
policies | | | 817,470 | | | | — | | | | — | |
| (1) | The
amount for the years ended December 31, 2024, 2023 and 2022 represented the lease expense charged by New Harvest for the lease of office
premise at 33/F, Sunshine Plaza, 353 Lockhart Road, Wan Chai, Hong Kong. The amount for the year ended December 31, 2024
represented the lease expense from January 1, 2024 to October 29, 2024, the date that New Harvest ceased to be a related party of
the Group. |
| (2) | The
amount for the years ended December 31, 2023 and 2022 represented the lease expense charged by Top Pride for the lease of warehouse
at Unit1208 on 12/F, Riley House, No. 88 Lei Muk Road, Kwai Chung, New Territories, Hong Kong. The Group chose
not to renew the lease contract in 2024. |
| (3) | The amount for the year ended December 31, 2022 represented
expense related to the inventory management service provided by Top Pride to the Group, including the monitoring, checking and packaging
of goods, warehouse management service and logistic services. There was no such service provided and expense incurred for the year ended
December 31, 2023. |
| (4) | On May 31, 2024, the Group resolved to dispose of the
investments in of Sun Life Insurance policy and BOC Life Insurance policy to Mr. Sit Hon at a consideration of $817,470. No gain
or loss was recognized upon the disposal. Please refer to Note 9 for details. |
Balances with related parties | | | | | As of
December 31, | | | Name | | Nature | | 2024 | | | 2023 | | | Mr. Sit Hon(4) | | Amount due from a director | | $ | — | | | $ | 420,686 | | | Mr. Ngai Kwan(5) | | Amount due from a director | | | 10,000 | | | | — | |
| (4) | The outstanding balance as of December 31, 2023, represented
advances made to Mr. Sit Hon by the Group to facilitate his personal needs. The balance was interest-free, unsecured, and repayable
on demand, and has been fully settled during the year ended December 31, 2024. |
| (5) | The outstanding balance as of December 31, 2024, represented
advances made to Mr. Ngai Kwan by the Group to facilitate his personal needs. The balance was interest-free, unsecured, and repayable
on demand, and has been fully settled as of the date of this report. |
|