v3.25.2
Related party transactions
 9 Months Ended
Jun. 30, 2025
Related Party Transactions [Abstract]  
Related party transactions

 

8.Related party transactions

 

On July 1, 2023, the Group and BEYEBE AI Technology Inc (“BEYEBE”), a related party under same shareholder, Weihong Du’s control of the Group, signed an agreement and the BEYEBE was going to pay all operating expenses for the Group until the end of the agreement when the Group will reimburse all payments made on behalf of the Group in a lump sum to BEYEBE. On December 31, 2023, the Group signed a loan agreement with BEYEBE for a 3 years credit loan of an aggregate principal amount not exceeding US$1,000,000 on an interest rate of 7.5% per annum.

 

During the nine months ended June 30, 2025, the Group repaid the outstanding loan principal of US$257,041 to BEYEBE. As of June 30, 2025 and 2024, outstanding balance under this loan agreement was US$Nil and US$106,210, with interest payable to BEYEBE of US$Nil and US$813, respectively.

 

During the nine months ended June 30, 2025, the Group had entered into a License and Supply Agreement (“License Agreement”) with Shenzhen Beyebe Internet Technology Co. Limited (“SZ BEYEBE”), a related party under same shareholder, Weihong Du’s control of the Group. Pursuant to the terms of License Agreement , the Group granted to SZ BEYEBE the right to use and grant others a sublicense to use the Group’s Licensed Intellectual Property, as such term is defined in the License Agreement, and to use and sell the Group’s Licensed Products, as defined in the License Agreement, within mainland China, at a consideration of (i) a fixed license fee of US$300,000 for the first year and (ii) a royalty equal to 15% of the revenue generated by SZ BEYEBE from the distribution of the Licensed Products and Licensed Intellectual Property. The fixed license fee for each year thereafter will be such amount as is agreed upon by the parties. The License Agreement has a term which expires on December 31, 2040.

 

During the nine months ended June 30, 2025, fixed fee license revenue of US$211,500 (2024: US$Nil) and royalty revenue of US$34,796 (2024: US$Nil) were arising from the License Agreement.

 

Weihong Du, one of the shareholders of the Group, entered into an employment contract with the Company. Pursuant to the employment contract date July 1, 2023, Mr. Du is entitled for an annual salary of US$60,000 for being the Chief Executive Officer of the Company.

 

Li’ou Xie, one of the shareholders of the Group, entered into a labor contract with the Group’s wholly-owned subsidiary, SGTCL, on January 1, 2024. Pursuant to the terms of the labor contract, Mr. Xie serves as the financial manager for a term of three years, concluding on December 31, 2026, at a monthly salary and bonus of RMB52,200 (approximately US$7,357).

 

The related party transactions of the Group are as follows:

 

   For the three months ended June 30,   For the nine months ended June 30, 
   2025   2024   2025   2024 
   US$
(Unaudited)		   US$
(Unaudited)		   US$
(Unaudited)		   US$
(Unaudited)		 
BEYEBE AI Technology Inc. (“BEYEBE”)                    
- Rental expense   —    11,955    —    35,865 
- Interest (income)/expense   -116    4,274    986    5,087 
                     
Shenzhen Beyebe Internet Technology Co. Limited (“SZ BEYEBE”)                    
- Fixed fee license revenue   70,500    —    211,500    — 
- Royalty revenue   —    —    34,796    — 
- Rental expense   4,179    4,730    12,550    8,958 

 

   For the three months ended June 30,   For the nine months ended June 30, 
   2025   2024   2025   2024 
   US$
(Unaudited)		   US$
(Unaudited)		   US$
(Unaudited)		   US$
(Unaudited)		 
Weihong Du                    
- Payroll expense   37,500    37,500    52,500    52,500 
                     
Li’ou Xie                    
- Payroll expense   21,947    21,995    65,653    44,075 

 

The balances with the related parties are as follows:

 

   As of June
30, 2025		   As of September
30, 2024		 
   US$
(Unaudited)		   US$ 
Amount due to a shareholder:          
Yongsheng Li   8,000    — 
Li’ou Xie   2,082    — 
Total amount due to a shareholder   10,082    — 
           
Amount due to related parties:          
BEYEBE AI Technology Inc. (“BEYEBE”)   —    456,762 
SZ BEYEBE*   184,135    405,110 
Total amount due to related parties   184,135    861,872 

 

*As of June 30, 2025, accounts receivables of US$ 42,004 (September 30, 2024: US$Nil) was included in the balance of amount due from SZ BEYEBE.

 

 

   As of June
30, 2025		   As of September
30, 2024		 
   US$
(Unaudited)		   US$ 
Amount due from shareholders:          
Weihong Du   214    13,836 
Li’ou Xie   —    905 
Less: allowance for credit losses   —    (295)
Total amount due from shareholders, net   214    14,446 
           
Amount due from related parties:          
BEYEBE   9,584    13,836 
Total amount due from related parties   9,584    14,446