Debt Investment	9 Months Ended
Sep. 30, 2024
Debt Investment [Abstract]
DEBT INVESTMENT	8. DEBT INVESTMENT As of September 30, 2024, debt investment was $1.83 million. On May 20, 2024, Future Commercial Management Co., Ltd. entered into a “Debt Transfer Agreement” with a third-party. Future Commercial Management Co., Ltd. paid $0.71 million (RMB5.00 million) to purchase $2.12 million (principal amount RMB7.50 million, interest RMB7.35 million) in debt. The debt has pledge of three properties, amount $2.08 million (RMB8.02 million). The debt is expected to be repaid $1.14 million (RMB8.00 million) within 3 years. The company will perform debt impairment test end of the fiscal year. On July 4, 2024, Future Commercial Management Co., Ltd., an indirectly wholly owned subsidiary of the Company, entered into a “Entrustment Agreement” with Xi’an Qifeng Future Supply Chain Co., Ltd. (“Xi’an Qifeng”) to entrust Xi’an Qifeng for acquisition of certain debt assets. On September 26, 2024, Xi’an Qifeng through its authorized agent entered into a “Debt Transfer Agreement” with China Zhongxin Financial Assets Management Co., Ltd. Gansu Branch, pursuant to which Future Commercial Management Co., Ltd. paid $1.12 million (RMB7.50 million) to purchase 60% rights and ownership in debt assets which is amount of RMB94.05 million (the total debt assets are of principal amount RMB87.90 million, interest RMB68.84 million). The debt has been pledged with one property amount $5.62 million (RMB39.36 million). The debt has an annual interest rate of 12% and payment requirement of principal $0.07 million (RMB0.5 million) per month until it’s fully repaid. The Company will perform debt impairment test at end of this fiscal year.

Debt Investment

9 Months Ended

Sep. 30, 2024

8. DEBT INVESTMENT

As of September 30, 2024, debt investment was $1.83 million.

On May 20, 2024, Future Commercial Management Co., Ltd. entered into a “Debt Transfer Agreement” with a third-party. Future Commercial Management Co., Ltd. paid $0.71 million (RMB5.00 million) to purchase $2.12 million (principal amount RMB7.50 million, interest RMB7.35 million) in debt. The debt has pledge of three properties, amount $2.08 million (RMB8.02 million). The debt is expected to be repaid $1.14 million (RMB8.00 million) within 3 years. The company will perform debt impairment test end of the fiscal year.

On July 4, 2024, Future Commercial Management Co., Ltd., an indirectly wholly owned subsidiary of the Company, entered into a “Entrustment Agreement” with Xi’an Qifeng Future Supply Chain Co., Ltd. (“Xi’an Qifeng”) to entrust Xi’an Qifeng for acquisition of certain debt assets. On September 26, 2024, Xi’an Qifeng through its authorized agent entered into a “Debt Transfer Agreement” with China Zhongxin Financial Assets Management Co., Ltd. Gansu Branch, pursuant to which Future Commercial Management Co., Ltd. paid $1.12 million (RMB7.50 million) to purchase 60% rights and ownership in debt assets which is amount of RMB94.05 million (the total debt assets are of principal amount RMB87.90 million, interest RMB68.84 million). The debt has been pledged with one property amount $5.62 million (RMB39.36 million). The debt has an annual interest rate of 12% and payment requirement of principal $0.07 million (RMB0.5 million) per month until it’s fully repaid. The Company will perform debt impairment test at end of this fiscal year.