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Related Party

12 Months Ended

Dec. 31, 2024

Related Party Transactions [Abstract]

RELATED PARTY

NOTE 15 — RELATED PARTY

The related parties had transactions for the years ended December 31, 2024 and 2023 consist of the following:

Name of the related parties		Nature of the relationship
Jie Liu		CEO of the Company
Yuanqing Liu		Family member of the CEO, Father of the CEO
Ronglan Sun		Family member of the CEO, Mother of the CEO
Hongyu Hao		Family member of the CEO and Vice President of Purchase Department
Yuanxiang Liu		Family member of the CEO, Uncle of the CEO
Li Liu		Family member of the CEO, Sister of the CEO
Yongqing Dong		Family member of the CEO

Amount due from (due to) a related party:

		December 31,				December 31,
		2024				2023
Jie Liu		$	(17,875	)		$	350,983
Hongyu Hao			(629	)			(68	)
Yongqing Dong			(2,743	)			(8,862	)
Due from (due to) related parties, net		$	(21,247	)		$	342,053

Balances due from and due to related parties primarily represent monetary advances and repayments made in the normal course of business. The amount advanced from and repaid to related parties for the years ended December 31, 2024, 2023 and 2022 were $1,064,327 and $1,051,514; $4,683,578 and $5,266,202; and $1,662,351 and $1,153,063, respectively. The Company advanced $351,924 to Mr. Jie Liu during 2023, and the amount due from him was fully repaid in 2024.

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- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

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-Topic 946
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