| RELATED PARTIES TRANSACTIONS |
| 6. |
RELATED PARTIES TRANSACTIONS |
The table below sets forth the related parties
and their relationships with the Company as of March 31, 2025 and December 31, 2024:
| Schedule of related parties and their relationships |
|
|
| Name of related parties |
|
Relationship with the Company |
| Yu Yang (“Mr. Yang”) |
|
Controlling shareholder |
| Jiaocheng Xinmu Trade Co., Ltd |
|
Controlled by Mr. Yang |
| All Weather (Hainan) Network Sports Co., Ltd |
|
Controlled by Mr. Yang |
| Taiyuan Tuohang Logistics Co., Ltd |
|
Controlled by Mr. Yang |
| Shanxi Xiliu Catering Management Co., Ltd |
|
Controlled by Mr. Yang |
The related party balances and transactions are
as follows:
Amounts due to related parties:
| Schedule of amounts due to related parties | |
| |
| | | |
| | |
| | |
| |
March 31, 2025 | | |
December 31, 2024 | |
| Yu Yang | |
(a) | |
$ | 534,469 | | |
$ | 441,151 | |
| Jiaocheng Xinmu Trade Co., Ltd | |
(b) | |
| 2,359,428 | | |
| 2,346,889 | |
| Taiyuan Tuohang Logistics Co., Ltd | |
(c) | |
| 156,030 | | |
| 117,324 | |
| | |
| |
$ | 3,049,927 | | |
$ | 2,905,364 | |
| (a) |
Amounts due to Yu Yang represent payments made to vendors on behalf of the Company for operational purposes. During the three months ended March 31, 2025 and 2024, apart from the exchange differences arising from the translation of RMB balances into U.S. dollar at period-end exchange rates, Yu Yang had paid the operation and administration expenses on behalf of the Company in an aggregate amount of $93,295 and $88,623, respectively. |
| |
|
| (b) |
Amounts due to Jiaocheng Xinmu Trade Co., Ltd represent advances made to the Company for operational purposes. Apart from the exchange differences arising from the translation of RMB balances into U.S. dollar at period-end exchange rates, during the three months ended March 31, 2025 and 2024, there was no transactions incurred between the Company and Jiaocheng Xinmu Trade Co., Ltd. |
| |
|
| (c) |
Amounts due to Taiyuan Tuohang Logistics Co., Ltd represent payments made on behalf of the Company for operational purposes. During the three months ended March 31, 2025 and 2024, apart from the exchange differences arising from the translation of RMB balances into U.S. dollar at period-end exchange rates, Taiyuan Tuohang Logistics Co., Ltd had paid the operation and adminstartion expenses on behalf of the Company in an aggregate amount of $37,312 and $nil, respectively |
Related party transactions:
During the three months ended March 31, 2025 and
2024, there were expenses paid on behalf by the related parties as described above. In addition, during the three months ended March 31,
2025, the Company sold products to All Weather (Hainan) Network Sports Co., Ltd in aggregate amounts of $98,549.
|