| Schedule of Related Parties |
As of December 31, 2025, related parties of the Company consist of
the following:
| Name of Related Party | | Nature of Relationship | | HongKong Kisen Co., Limited (“HongKong Kisen”) | | Company ultimately controlled by Chief Strategy Officer (“CSO”) |
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| Schedule of Operations Through Proceeds Borrowed From Related Parties |
The Company mainly finance its operations through
proceeds borrowed from related parties. As of December 31, 2025 and 2024, due to related parties consisted the following:
| | | December 31, | | | | | | | | | Interest | | | Exchange
Rate | | | December 31, | | | | | 2024 | | | Received | | | Repayment | | | Expenses | | | Translation | | | 2025 | | | Yufeng Mi | | | 4,503 | | | | - | | | | (4,503 | ) | | | - | | | | - | | | | - | | | HongKong Kisen (1) | | | 2,195,948 | | | | 604,943 | | | | (2,209,100 | ) | | | 340 | | | | - | | | | 592,131 | | | Total due to related parties | | | 2,200,451 | | | | 604,943 | | | | (2,213,603 | ) | | | 340 | | | | - | | | | 592,131 | |
| (1) | On April 7, 2022, the Company entered into a loan agreement
with HongKong Kisen for borrowings of $10,000,000, bearing interest at an annual rate of 0.1% with a term of 10 months, to fund the Company's
working capital requirements. Effective January 1, 2023, the parties mutually agreed to terminate the agreement and entered into a new
loan agreement providing for borrowings of up to $20,000,000 at an annual interest rate of 0.1%, with an original maturity date of December
31, 2023, which was subsequently extended to December 31, 2024. |
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