v3.25.2
Business Acquisition
 3 Months Ended
Mar. 31, 2025
Business Acquisition [Abstract]  
BUSINESS ACQUISITION

3. BUSINESS ACQUISITION

 

Acquisitions in 2025

 

Pucheng Green Health Food

 

On January 1, 2025, the Company, through WFOE, acquired 51% equity interests in Pucheng Green Health Food for a total cash consideration of approximately US$559,782 Upon the acquisition, Pucheng Green Health Food became a consolidated subsidiary of the Company.

 

The total purchase consideration of approximately US$559,142 consisted of a cash payment of approximately US$559,142 to the former shareholders of Pucheng Green Health Food. The assets and liabilities of Pucheng Green Health Food were recorded at their respective estimated fair value as of the acquisition date.

 

The following table summarizes the purchase price allocation of the assets acquired, liabilities assumed, and related deferred income tax assumed at the date of acquisition. The dollar amount presented in the table was based on the exchange rate of RMB1.00 to US$0.1370 on January 1, 2025.

 

   Amount in
US$		 
     
Current assets   172,667 
Construction-in-progress   838,442 
Other non-current assets   740,897 
Total assets acquired   1,752,006 
Current liabilities   (590,974)
Non-current liabilities   (7,660)
Total liabilities assumed   (598,634)
Net identifiable assets acquired (51%)   588,220 
Total consideration   559,142 
Bargain purchase gain   29,078