| Financial Information of the Parent Company |
20.
Financial Information of the Parent Company
The
Parent Company was incorporated on October 8, 2018. The following disclosures present the financial positions of the Parent Company as
of June 30, 2025 and 2024, and results of operations and cash flows of the Parent Company for the years ended June 30, 2025 and 2024.
The
financial statements of the Parent Company have been prepared using the same accounting policies as set out in the Group’s consolidated
financial statements except that the Parent Company uses the equity method to account for investments in its subsidiaries.
The
Parent Company and its subsidiaries were included in the consolidated financial statements whereby the inter-company balances and transactions
were eliminated upon consolidation. For the purpose of the Parent Company’s financial statements, its investments in subsidiaries
are reported using the equity method of accounting.
The
Parent Company is a BVI company, therefore, is not subject to income taxes for all years presented. Balance
Sheets
(In
US$, except for share and per share data, or otherwise stated)
| | |
As of June 30, | |
| | |
2025 | | |
2024 | |
| Assets | |
| | |
| |
| Cash and cash equivalents | |
$ | 28,761 | | |
$ | - | |
| Deposits, prepayments and other current assets, net | |
| 156,511 | | |
| - | |
| Due from related parties | |
| 1,000 | | |
| - | |
| Due from Intercompany | |
| 4,789,591 | | |
| - | |
| Investments in subsidiaries | |
| 3,405,852 | | |
| 2,745,097 | |
| Total Assets | |
$ | 8,381,715 | | |
$ | 2,745,097 | |
| Liabilities | |
| | | |
| | |
| Due to related parties | |
$ | 338,203 | | |
$ | 8,579 | |
| Due to Intercompany | |
| 997,363 | | |
| - | |
| Convertible bonds | |
| 1,080,266 | | |
| - | |
| Other payables | |
| 612,138 | | |
| - | |
| Total Liabilities | |
$ | 3,027,970 | | |
$ | 8,579 | |
| Equity: | |
| | | |
| | |
| Class A Ordinary Shares ($0.0001 par value; 400,000,000 shares authorized; 11,250,000 and 10,000,000 shares issued and outstanding as of June 30, 2025 and 2024, respectively) | |
$ | 1,125 | | |
$ | 1,000 | |
Class B Ordinary Shares (($0.0001 par value; 100,000,000 shares authorized; 580,000 and nil issued and outstanding as of June 30, 2025 and 2024, respectively) | |
| 58 | | |
| - | |
| Subscription receivables | |
| - | | |
| - | |
| Additional paid-in capital | |
| 2,050,003 | | |
| - | |
| Retained earnings | |
| 3,336,442 | | |
| 2,903,189 | |
| Accumulated other comprehensive loss | |
| (33,883 | ) | |
| (167,671 | ) |
| Total Equity | |
$ | 5,353,745 | | |
$ | 2,736,518 | |
| Total Liabilities and Equity | |
$ | 8,381,715 | | |
$ | 2,745,097 | |
| * | The
shares and per share data are presented on a retroactive basis to reflect the stock split. |
Statements
of Operations
(In
US$, except for share and per share data, or otherwise stated)
| | |
For the years ended
June 30, | |
| | |
2025 | | |
2024 | |
| General and administration expenses | |
$ | (82,138 | ) | |
$ | (4,597 | ) |
| Other income | |
| - | | |
| - | |
| Other expenses | |
| (21,844 | ) | |
| - | |
| Exchange gain | |
| 24,676 | | |
| - | |
| Income from equity-method investment | |
| 844,226 | | |
| 1,552,944 | |
| Net income | |
$ | 764,919 | | |
$ | 1,548,347 | |
Statements
of Cash Flows
(In
US$, except for share and per share data, or otherwise stated)
| | |
For the years ended
June 30, | |
| | |
2025 | | |
2024 | |
| Cash flows from operating activities | |
| | |
| |
| Net income | |
$ | 764,919 | | |
$ | 1,548,347 | |
| Gain from equity-method investment | |
| (2,881,504 | ) | |
| (1,548,347 | ) |
| Cash flows from investing activities | |
| (661,755 | ) | |
| - | |
| Cash flows from financing activities | |
| 3,438,232 | | |
| - | |
| Effect of exchange rate changes | |
| 133,788 | | |
| - | |
| Net change in cash and cash equivalents | |
| 28,761 | | |
| - | |
| Cash and cash equivalents at beginning of the year | |
| - | | |
| - | |
| Cash and cash equivalents at end of the year | |
$ | 28,761 | | |
$ | - | |
|