Leases |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Leases [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| LEASES | Note 12. LEASES
The Company leases its office in Shanghai City from a third party for its operations.
As of June 30, 2025 and 2024, the remaining average lease term was an average of 1.5 and 1.7 years, respectively. The Company’s lease agreements do not provide a readily determinable implicit rate nor is it available to the Company from its lessors. Instead, the Company estimates its incremental borrowing rate based on actual incremental borrowing interest rates from financial institutions in order to discount lease payments to present value. The discount rate of the Company’s operating leases was 10.74% and 10.74% per annum, as of June 30, 2025 and 2024, respectively.
Supplemental balance sheet information related to operating leases was as follows:
As of June 30, 2025, maturities of lease liability were as follows:
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