Schedule of Significant Related Party Transactions |
Other than disclosed elsewhere, the Group had the following significant related party transactions for the nine months ended September 30, 2024 and 2023:
| |
For nine months ended
September 30, | |
| |
2024 | | |
2023 | |
| |
US$ | | |
US$ | |
Proceeds from loans from related parties: | |
| | |
| |
-Zengqiang Lin | |
| 4,742,348 | | |
| 1,792,987 | |
-Zhenzhu Lin | |
| 1,684,201 | | |
| - | |
-Xiuhua Zhou | |
| 1,516,760 | | |
| - | |
| |
| 7,943,309 | | |
| 1,792,987 | |
| |
| | | |
| | |
Repayment of a loan from a related party: | |
| | | |
| | |
-Zengqiang Lin | |
| (1,787,216 | ) | |
| (2,660,425 | ) |
-Zhenzhu Lin | |
| (626,355 | ) | |
| - | |
| |
| (2,413,571 | ) | |
| (2,660,425 | ) |
| |
| | | |
| | |
Refunds from a related party | |
| | | |
| | |
-Xinhongbo | |
| 58,460 | | |
| - | |
-Changhong | |
| 139 | | |
| - | |
| |
| 58,599 | | |
| | |
| |
| | | |
| | |
Capital contribution to Hongchang Food: | |
| | | |
| | |
-Zengqiang Lin | |
| - | | |
| 41,241,108 | |
| |
| | | |
| | |
Sales of goods: | |
| | | |
| | |
-Fujian Xindefu Agricultural Products Co., Ltd. | |
| 1,352 | | |
| - | |
| |
| | | |
| | |
Procurement of goods: | |
| | | |
| | |
-Fujian Xindefu Agricultural Products Co., Ltd. | |
| 268,552 | | |
| - | |
| |
| | | |
| | |
Procurement of service: | |
| | | |
| | |
-Fujian Xindefu Agricultural Products Co., Ltd. | |
| 198,436 | | |
| - | |
The Group had the following related party balances as of September 30, 2024 and December 31, 2023:
| |
As of | |
| |
September 30, 2024 | | |
December 31, 2023 | |
| |
US$ | | |
US$ | |
Advance to supplier-related party | |
| | |
| |
-Xinhongbo | |
| - | | |
| 59,324 | |
Amount due from a related party | |
| | | |
| | |
-Changhong | |
| - | | |
| 141 | |
| |
| | | |
| | |
Accounts payable-related party | |
| | | |
| | |
-Fujian Xindefu Agricultural Products Co., Ltd. | |
| 182,514 | | |
| - | |
| |
| | | |
| | |
Amounts due to related parties: | |
| | | |
| | |
-Zengqiang Lin | |
| 9,762,405 | | |
| 6,682,959 | |
-Zhenzhu Lin | |
| 1,083,573 | | |
| - | |
-Xiuhua Zhou | |
| 1,553,650 | | |
| - | |
|