| RELATED PARTY TRANSACTIONS |
| 12. | RELATED
PARTY TRANSACTIONS |
The
following is a list of related parties which the Group has transactions with:
| No. | | Name of Related Parties | | Relationship with the Group | | a | | Baiming Yu | | COO, Director and a significant shareholder of the Group | | b | | Huiyu Chuanggu (Hangzhou) Equity Investment Fund Co., Ltd. (“Huiyu Chuanggu”) | | Shuang Wu acted as the executive director and owned 30% equity interests of this related party | | c | | Shuang Wu | | CEO, Director, and Chairman of the Board of Directors | | d | | Hangzhou Shuige Technology Co., Ltd (“Hangzhou Shuige”) | | 55% equity interests owned by Baiming Yu | | e | | Hangzhou Qingniu Medical Instrument Co., Ltd (“Hangzhou Qingniu”) | | Owned by immediate family member of Baiming Yu | | f | | Qijia Yu | | Immediate family member of Baiming Yu | | g | | EZGO Technologies Ltd (“EZGO”) | | A company significantly influenced by Shaung Wu in its management or operating policies |
Amounts
due from related parties
Amounts
due from related parties consisted of the following for the periods indicated:
| |
|
As
of
March 31,
2026 |
|
|
As
of
September 30,
2025 |
|
| |
|
|
(Unaudited) |
|
|
|
|
|
| Hangzhou Qingniu(1) |
|
$ |
- |
|
|
$ |
4 |
|
| Hangzhou Shuige(1) |
|
|
19 |
|
|
|
- |
|
| Huiyu Chuanggu(2) |
|
|
- |
|
|
|
1,474,926 |
|
| Shuang Wu(2) |
|
|
15,276 |
|
|
|
9,310,000 |
|
| Qijia Yu(2) |
|
|
1,943 |
|
|
|
1,404 |
|
| EZGO(3) |
|
|
3,022,500 |
|
|
|
- |
|
| Total |
|
$ |
3,039,738 |
|
|
$ |
10,786,334 |
|
| (1) | The balance represents account receivables from related parties. |
| (2) | The balance represents advances made to the related parties for the Group’s daily operational purposes. |
| (3) | This balance represents a loan of $3,000,000 with an interest rate of 3% and will be matured on December 2026. |
Amounts
due to related parties
Amounts
due to related parties consisted of the following for the periods indicated:
| |
|
As
March 31,
2026 |
|
|
As
of
September 30,
2025 |
|
| |
|
(Unaudited) |
|
|
|
|
| Hangzhou Qingniu(1) |
|
|
7,028 |
|
|
|
- |
|
| Baiming Yu(1) |
|
|
- |
|
|
|
12,772 |
|
| Total |
|
$ |
7,028 |
|
|
$ |
12,772 |
|
| (1) | The balance represents an advance from this related party for the Group’s daily operations, which is interest-free and has no fixed repayment term. |
Related
party transactions
| |
|
For
the six months ended
March 31, |
|
| Nature |
|
2026
(Unaudited) |
|
|
2025
(Unaudited) |
|
| Loan to Hangzhou
Shuige(1) |
|
$ |
- |
|
|
$ |
107,872 |
|
| Repayment from Hangzhou Shuige(1) |
|
|
- |
|
|
|
436,336 |
|
| Sales to Hangzhou Shuige(5) |
|
|
185 |
|
|
|
- |
|
| Loan from Hangzhou Shuige(2) |
|
|
428,198 |
|
|
|
- |
|
| Repayment to Hangzhou Shuige(2) |
|
|
428,198 |
|
|
|
- |
|
| Repayment to Baiming Yu(2) |
|
|
12,978 |
|
|
|
- |
|
| Loan to Baiming Yu(1) |
|
|
- |
|
|
|
161,853 |
|
| Sales to Baiming Yu(5) |
|
|
- |
|
|
|
3,184 |
|
| Sales to Hangzhou Qingniu(5) |
|
|
10,203 |
|
|
|
34,708 |
|
| Loan to Hangzhou Qingniu(1) |
|
|
2,383 |
|
|
|
74,681 |
|
| Repayment from Hangzhou Qingniu(1&5) |
|
|
- |
|
|
|
98,490 |
|
| Purchase from Hangzhou Qingniu(6) |
|
|
- |
|
|
|
2,254 |
|
| Loan to Shuang Wu(1) |
|
|
92,885 |
|
|
|
628,294 |
|
| Repayment from Shuang Wu(1&7) |
|
|
1,287,844 |
|
|
|
2,011,267 |
|
| Loan from Shuang Wu(2) |
|
|
85,531 |
|
|
|
380,863 |
|
| Repayment to Shuang Wu(2) |
|
|
85,531 |
|
|
|
364,329 |
|
| Advance to Huiyu Chuanggu(7) |
|
|
- |
|
|
|
782,654 |
|
| Payment of equity transfer
consideration on behalf of the Company(3) |
|
|
8,100,000 |
|
|
|
- |
|
| Repayment to Huiyu Chuanggu
for IPO costs paid on behalf of the Group (2) |
|
|
- |
|
|
|
1,033,517 |
|
| Advance to Qijia Yu(4) |
|
|
- |
|
|
|
2,074 |
|
| Reimbursement from Qijia Yu(4) |
|
|
- |
|
|
|
492 |
|
| Loan to EZGO(8) |
|
|
3,000,000 |
|
|
|
- |
|
| Interest receivable from EZGO(8) |
|
|
22,500 |
|
|
|
- |
|
| (1) | These consisted of the Group’s interest-free loans, which are due on demand, to the related parties for their daily operations and repayment from the related parties. |
| (2) | These consisted of the Group’s interest-free loans, which are due on demand, from the related parties for the Group’s daily operations or a portion of the IPO costs, including legal fees and accounting fees, and repayment to the related parties. |
| (3) | This consisted of the equity transfer consideration paid by Shuang Wu on behalf of the Company. |
| (4) | This consisted of the advances, which are interest-free and due on demand, made to the related parties for the Group’s daily operational purposes, and repayment and reimbursement from the related parties. |
| (5) | These consisted of the receivables for selling medical consumables to the related parties and repayment from the related parties. |
| (6) | This consisted of the payable for purchase of materials from the related party. |
| (7) | These include: (i) repayments of borrowings from related parties for the Group’s daily operations; and (ii) prepayments for management services of financial administration, financial statement analysis, and financial planning advice. |
| (8) | These consisted of an interest-bearing loan to the related party and corresponding interests. |
|