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Related Parties Transactions (Tables) | 6 Months Ended
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Jun. 30, 2024
Related Parties Transactions [Abstract] |
Schedule of Related Parties of the Company with whom Transactions | The related parties of the Company with whom transactions are reported in these financial statements are as follows:
Name of entity or Individual |  | Relationship with the Company and its subsidiaries
BioFirst Corporation (the “BioFirst”) |  | Entity controlled by controlling beneficiary shareholder of YuanGene
BioFirst (Australia) Pty Ltd. (the “BioFirst (Australia)”) |  | 100% owned by BioFirst; Entity controlled by controlling beneficiary shareholder of YuanGene
Rgene Corporation (the “Rgene”) |  | Shareholder of the Company; Entity controlled by controlling beneficiary shareholder of YuanGene; the Chairman of Rgene is Mr. Tsung-Shann Jiang
ForSeeCon Corporation (the “FEYE”) |  | Cost method investment
YuanGene Corporation (the “YuanGene”) |  | Controlling beneficiary shareholder of the Company
GenePharm Inc. (the “GenePharm”) |  | Dr. George Lee, Board Director of BioKey, is the Chairman of GenePharm.
The Jiangs |  | Mr. Tsung-Shann Jiang, the controlling beneficiary shareholder of the Company; the Chairman of Rgene; the Chairman and CEO of the BioLite Holding Inc. and BioLite Inc. and the President and a member of board of directors of BioFirst Ms. Shu-Ling Jiang, Mr. Tsung-Shann Jiang’s wife, and a member of board of directors of BioLite Inc. Mr. Eugene Jiang is Mr. and Ms. Jiang’s son. Mr. Eugene Jiang is the chairman, and majority shareholder of the Company and a member of board of directors of BioLite Inc. Mr. Chang-Jen Jiang is Mr. Tsung-Shann Jiang’s sibling and the director of the Company. Ms. Mei-Ling Jiang is Ms. Shu-Ling Jiang’s sibling.
BioLite Japan |  | Entity controlled by controlling beneficiary shareholder of ABVC
BioHopeKing Corporation (“BHK”) |  | Entity controlled by controlling beneficiary shareholder of ABVC
Schedule of Pursuant Licensing Agreement Related Amendment | During the six months ended June 30, 2024, the Company received $116,000 pursuant to the licensing agreement and related amendment with FEYE, and recognized $116,000 revenue in the period ended June 30, 2024. Please refer to Note 4, Collaborative Agreements for details.
|  | June 30, |  |  | June 30, |
|  | 2024 |  |  | 2023 |
|  | (Unaudited) |  |  |  |
FEYE |  | $ | 116,000 |  |  | $ | - |
Total |  | $ | 116,000 |  |  | $ | - |
Schedule of Accounts Receivable Due From Related Parties | Accounts receivable due from related parties consisted of the following as of the periods indicated:
|  | June 30, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
|  | (Unaudited) |  |  |  |
Rgene |  | $ | 10,463 |  |  | $ | 10,463 |
Total |  | $ | 10,463 |  |  | $ | 10,463 |
Schedule of Due From Related Parties - Current | Due from related-party - Current
|  | June 30, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
|  | (Unaudited) |  |  |  |
Rgene |  | $ | 553,229 |  |  | $ | 541,486 |
BioFirst |  |  | 705,083 |  |  |  | 206,087 |
Total |  | $ | 1,258,312 |  |  | $ | 747,573 |
Schedule of Due From Related Parties - Non Current | Due from related parties - Non-Current
|  | June 30, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
BioFirst (Australia) |  | $ | 839,983 |  |  | $ | 839,983 |
BioHopeKing Corporation |  |  | 121,392 |  |  |  | 113,516 |
Total |  |  | 961,375 |  |  |  | 953,499 |
Less: allowance for expected credit losses accounts |  |  | (839,983 | ) |  |  | (839,983 | )
Net |  | $ | 121,392 |  |  | $ | 113,516 |
Schedule of Amount Due to Related Parties | Amount due to related parties consisted of the following as of the periods indicated:
|  | June 30, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
|  | (Unaudited) |  |  |  |
The Jiangs |  | $ | 178,533 |  |  | $ | 19,789 |
Due to shareholders |  |  | 143,528 |  |  |  | 152,382 |
Due to a Director |  |  | 4,237 |  |  |  | 961 |
Total |  | $ | 326,298 |  |  | $ | 173,132 |

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