v3.25.2
Related Party Transactions
 12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 15 – RELATED PARTY TRANSACTIONS

 

The Company records transactions with various related parties. These related party balances as of December 31, 2024 and 2023 and transactions for the years ended December 31, 2024, 2023 and 2022 are identified as follows:

 

(1) Related parties

 

Name of Related Party   Relationship to the Company
Mr. Hengfang Li   Chief Executive Officer and Chairman of the Board of Directors, and shareholder of the Company
Q Green Techcon Private Limited   A non-controlling shareholder of disposal subsidiary

 

(2) Due from related parties

 

As of December 31, 2024 and 2023, the balance due from related parties was as follows: 

 

   As of
December 31,
2024		   As of
December 31,
2023		 
Mr. Hengfang Li  $24,048   $358,659 

 

(3) Sales to related party

 

   For the year
ended
December 31,
2024		   For the year
ended
December 31,
2023		   For the year
ended
December 31,
2022		 
Q Green Techcon Private Limited  $229,600   $
-
   $
--
 

 

(4) Equity grants

 

On June 4, 2022, the Company issued an aggregate of 1380 Common shares to directors under the 2018 Share Incentive Plan and the 2021 Share Incentive Plan (Note 16).

 

On March 12, 2023, the Company issued an aggregate of 670 Common shares to directors under the 2022 Share Incentive Plan (Note 16).

 

On August 12, 2024, the Company issued an aggregate of 1,1000 Common shares to directors under the 2022 Share Incentive Plan (Note 16).