v3.25.2
BUSINESS COMBINATION
 6 Months Ended
Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
BUSINESS COMBINATION

Note 22    BUSINESS COMBINATION

 

Zhejiang Xinca Mutual Entertainment Culture Media Co., Ltd.

 

On January 31, 2024, the Company acquired 100% shares of Xinca. The fair values of assets acquired and liabilities assumed were as follows:

    
Cash and bank balance  $201,863 
Trade receivables   379,525 
Prepaid rent expense   373,623 
Goodwill   1,351,703 
Plant and equipment, net   58,887 
Depreciation   (562)
Advanced from customers   (36,404)
Long-term secured bank loan   (36,087)
Other payables and accrued liabilities   (369,737)
Net assets value   1,922,811 
Purchases price  $1,980,000 

 

Hangzhou SY Culture Media Co. Ltd.

 

On April 14, 2024, the Company acquired 100% shares of SY Culture. The fair values of assets acquired and liabilities assumed were as follows:

    
Cash and bank balance  $206,663 
Trade receivables   163,814 
Advance to supplier   6,691 
Investment   27,284 
Other payables and accrued liabilities   (755)
Net assets value   403,697 
Purchases price  $642,000