v3.26.3
Related Party Transactions
 6 Months Ended
Jun. 30, 2026
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 7 — RELATED PARTY TRANSACTIONS

 

Due from related party consists of the following: 

 

        As of  
Name   Related party relationship   June 30,
2026		     December 31,
2025		  
Zhejiang TD Parking   Under common control of Bin Lu   $ 4,925,692     $ 4,779,184  
Total due from related party       $ 4,925,692     $ 4,779,184  

 

The Company has historically provided interest-free advances to related parties for business purposes. These advances are non-interest bearing and due on demand, and are recorded as amounts due from related parties in the consolidated financial statements. Management periodically evaluates the collectability of these receivables based on the related parties’ financial condition and repayment history. Management believes the outstanding balances are fully collectible as of the balance sheet date, and accordingly, no allowance for doubtful accounts has been recognized.

 

Due to related parties consists of the following:

 

        As of  
Name   Related party relationship   June 30,
2026		     December 31,
2025		  
Guowei Xie   Director of Jiaxing XC and CYH Shanghai     37,400         19,728  
Chenjie Hong   Director of Hangzhou ZHC     1,915       1,859  
Total due to related parties       $ 39,315     $ 21,587  

 

As of June 30, 2026 and December 31, 2025, the balance due to related parties was used for working capital during the Company’s normal course of business. These advances are non-interest bearing and due on demand.