XML 36 R24.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Related party transactions (Tables)
 6 Months Ended
Jun. 30, 2024
Related Party Transactions [Abstract]  
Related parties receivables
          
  

June 30,

2024

   December 31,
2023		 
Shenzhen Junfeng Wood Chain Network Technology Co., Ltd. (1)   415,138    1,110,135 
Gongfa (Guangdong) New Material Technology Co., Ltd. (2)   3,458,555    - 
Mr. Wang QingJian (3)   4,780    - 
Total   3,878,473    1,110,135 

 

(1)Amounts receivable from Shenzhen Junfeng Wood Chain Network Technology Co., Ltd., where Mr. Li JiYong serves as the legal representative, comprise of loans receivables.

 

(2)Amounts receivable from Gongfa (Guangdong) New Material Technology Co., Ltd., where Mr. Li JiYong is a significant shareholder of the entity and serves as the director of the entity, comprise of amounts advanced for the purpose of acquiring 61% equity interest in the said entity for which the transaction has not been finalized.  

 

(3)Amounts receivable from Mr. Wang QingJian, COO of the Company, comprise of amounts advanced for formaldehyde removal services.
Related parties payables
          
  

June 30,

2024

   December 31,
2023		 
Mr. Li JiYong (1)   20,682    42 
Uonlive (HK) Ltd (2)   10,829    10,828 
Mr. Raymond Fu (3)   415,626    178,784 
Jinyang (HK) Assets Mgt. Ltd (4)   54,143    54,143 
Mr. Wang QingJian (5)   -    17,588 
Total   501,280    261,385 

 

(1)Amounts payable to Mr. Li JiYong, the legal Representative of the Company, comprise of advances made to the Company for working capital purposes.

 

(2)Amounts payable to Uonlive (HK) Ltd., with Mr. Raymond Fu as an indirect beneficial owner, comprise of advances made to the Company for working capital purposes.

 

(3)Amounts payable to Mr. Raymond Fu, CEO, director and controlling shareholder of the Company, comprise advances made to the Company for working capital purposes.

 

(4)Amounts payable to Jinyang (HK) Assets Management Ltd., with Mr. Raymond Fu as the beneficial owner, comprise of advances made to the Company for working capital purposes.

 

(5)Amounts payable to Mr. Wang QingJian, COO of the Company, comprise of amounts payable for formaldehyde removal services.