PROPERTY AND EQUIPMENT, NET |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PROPERTY AND EQUIPMENT, NET | NOTE 4 – PROPERTY AND EQUIPMENT, NET
As of June 30, 2025 and December 31, 2024, property and equipment consisted of the following:
On September 28, 2022, the Company consummated an office suite purchase agreement with a third party. Pursuant to the agreement, the Company issued common stocks of the Company to purchase a 118-square-meter office suite located in Hangzhou City, Zhejiang Province, China. The cost of the office suite was measured at the fair value of the issued common stocks on the closing date of $265,178 less value-added tax of $2,108. The difference of $1,851 between the addition of $263,070 and the cost as of June 30, 2025 is due to the fluctuation of foreign exchange rate. The office space is intended for internal use.
Depreciation expenses were $8,823 and $6,421 for the six months ended June 30, 2025 and 2024, respectively. For the three months ended June 30, 2025 and 2024, the depreciation expenses were $4,227 and $3,256, respectively. The difference with the change in accumulated depreciation was due to exchange difference.
WENYUAN GROUP CORP. AND SUBSIDIARIES
NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
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