Note
13 - RELATED PARTY BALANCES AND TRANSACTIONS
The
following is a list of related parties, with which the Group has transactions:
SCHEDULE
OF RELATED PARTY TRANSACTIONS
| No. |
|
Name
of related parties |
|
Relationship |
| 1 |
|
Shaozhang
Lin |
|
The
legal representative and Chief Executive Officer (“CEO”) of the Company |
| 2 |
|
Baiyan
(Guangzhou) Investment Partnership (Limited partnership) |
|
The
indirect shareholder of the Company from April 21, 2023 |
| 3 |
|
Peng
Liu |
|
The
CEO of Celnet BJ, who became the related party since October 29, 2025 due to the acquisition of Celnet |
Balance
and transactions with related parties were as follows:
SCHEDULE
OF RELATED PARTY BALANCES AND TRANSACTIONS
| | |
March 31,
2026 | | |
September 30,
2025 | |
| | |
(Unaudited) | | |
| |
| Amount due from a related party | |
| | | |
| | |
| Shaozhang Lin (1) | |
$ | 22,251 | | |
$ | 17,486 | |
| Total due from a related party | |
$ | 22,251 | | |
$ | 17,486 | |
| | |
| | | |
| | |
| Amount due to related parties | |
| | | |
| | |
| Baiyan (Guangzhou) Investment Partnership (Limited partnership) (2) | |
| 6,720 | | |
| - | |
| Peng Liu (3) | |
| 576,028 | | |
| - | |
| Total due to related parties | |
$ | 582,748 | | |
$ | - | |
| (1) |
|
Amount
due from a related party represents the payment to the related party for business development in advance. The amount
is unsecured, non-interest bearing and repayable on demand. As of March 31, 2026, the balance of amount due from a related party
was $22,251. As of the issuance date of the unaudited condensed consolidated financial statements, the repayment amount was nil. |
| |
|
|
| (2) |
|
Amount
due to a related party represents business expenses paid by the related party on behalf of the Company. The amount is unsecured,
non-interest bearing and repayable on demand. |
| |
|
|
| (3) |
|
Amount
due to a related party represents loans provided by the related party to the Company. Balance due to the acquisition of Celnet on
the Acquisition Date was $426,713. The amount is unsecured, non-interest bearing and repayable on demand. For the six months ended
March 31, 2026, the Company received loan proceeds of approximately $282,613
and made repayments of approximately $141,260.
As of March 31, 2026, the outstanding balance of amount due to the related parties was $576,028. |
|