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Related Parties Transactions (Tables) | 6 Months Ended
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Jun. 30, 2025
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
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 and 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, is the Chairman of Keypoint; and a member of board of directors of the Company and BioLite Inc, and a member of board of directors of BioFirst 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. Eugene Jiang is a member of board of directors of BioFirst. Mr. Chang-Jen Jiang is Mr. Tsung-Shann Jiang’s sibling and the director of the Company, and a member of board of directors of BioFirst. 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
AiBtl (Holding) BioPharma, Inc. (“AiBtl Holding”) |  | Founding shareholder of AiBtl BioPharma Inc.
Jaimes Vargas Russman |  | CEO of AiBtl BioPharma Inc.
Lion Arts Promotion, Inc. (“Lion Arts”) |  | Entity controlled by the Jiangs.
During the three and 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 periods ended June 30, 2024. Please refer to Note 4, Collaborative Agreements for details.
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |  |  | June 30, |  |  | June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
FEYE |  | $ | - |  |  | $ | 116,000 |  |  | $ | - |  |  | $ | 116,000 |
Total |  | $ | - |  |  | $ | 116,000 |  |  | $ | - |  |  | $ | 116,000 |
Amounts due from related parties consisted of the following as of the periods indicated:
|  | June 30, |  |  | December 31, |
|  | 2025 |  |  | 2024 |
Rgene (1) |  | $ | 2,115 |  |  | $ | 565,711 |
BioFirst (2) |  |  | 1,420,290 |  |  |  | 589,340 |
Total |  | $ | 1,422,405 |  |  | $ | 1,155,051 |
Due from related party- Current
|  | June 30, |  |  | December 31, |
|  | 2025 |  |  | 2024 |
BioFirst (Australia) (3) |  | $ | 839,983 |  |  | $ | 839,983 |
BioHopeKing Corporation (4) |  |  | 118,633 |  |  |  | 120,210 |
Total |  |  | 958,616 |  |  |  | 1,014,193 |
Less: allowance for expected credit losses accounts |  |  | (958,616 | ) |  |  | (1,014,193 | )
Net |  | $ | - |  |  | $ | - |
(1) | On June 16, 2022, the Company entered into a one-year convertible loan agreement with Rgene, with a principal amount of $1,000,000 and made $500,000 to Rgene which bears interest at 5% per annum for the use of working capital that, if fully converted, would result in ABVC owning an additional 6.4% of Rgene. The Company may convert the Note at any time into shares of Rgene’s common stock at either (i) a fixed conversion price equal to $1.00 per share or (ii) 20% discount of the stock price of the then most recent offering, whichever is lower; the conversion price is subject to adjustment as set forth in the Note. The Note includes standard events of default, as well as a cross-default provision pursuant to which a breach of the Service Agreement will trigger an event of default under the convertible note if not cured after 5 business days of written notice regarding the breach is provided. The loan was converted to Rgene’s common stock in May 2024 but the Company was not informed until April 2025. Please see detail discussion in Note 7. As of June 30, 2025 and December 31, 2024, the outstanding loan balance were $0 and $500,000; and accrued interest was $0 and $63,819, respectively. Both principal and accrued interest were converted to Rgene’s common stocks. As of June 30, 2025 and December 31, 2024, the Company has other receivables amounted to $2,115 and $1,892, respectively, from Rgene due to daily operations.
(2) | On December 31, 2023, BioLite Taiwan entered into a loan agreement with BioFirst, with a principal amount of NTD 11,072,360 (approximately $337,707), which bears interest at 12% per annum for the use of working capital. During the year ended December 31, 2024, the Company entered into another loan agreement with BioFirst, with a principal amount of NTD 11,406,000 (approximately $347,883), which bears interest at 12% per annum for the use of working capital. During the six months ended June 30, 2025, the Company loaned BioFirst NTD 25,740,114 ($806,920) and received repayment of NTD 4,430,000 ($138,875). All loans are bore with 12% interest. As of June 30, 2025 and December 31, 2024, the outstanding loan balance were NTD 38,741,504 ($1,321,085) and NTD 17,571,076 (approximately $535,918), respectively; accrued interests were $98,089 and $53,422, respectively. The balance of $1,116 is due with daily operations.
(3) | On July 1, 2020, the Company entered into a loan agreement with BioFirst (Australia) for $361,487 to properly record R&D cost and tax refund allocation based on co-development contract executed on July 24, 2017. The loan was originally set to be mature on September 30, 2021 with an interest rate of 6.5% per annum, but on September 7, 2021, the Company entered into a loan agreement with BioFirst (Australia) for $67,873 to meet its new project needs. On July 27, 2021, the Company repaid a loan 249,975 to BioFirst (Australia). On December 1, 2021, the Company entered into a loan agreement with BioFirst (Australia) for $250,000 to increase the cost for upcoming projects. The loan will be matured on November 30, 2022 with an interest rate of 6.5% per annum. In 2022, the Company entered into several loan agreements with BioFirst (Australia) for a total amount of $507,000 to increase the cost for upcoming projects. During the first quarter of 2023, the Company entered into several loan agreements with BioFirst (Australia) for a total amount of $88,091 to increase the cost for upcoming projects. During the second quarter of 2023, the Company entered into several loan agreements with BioFirst (Australia) for a total amount of $25,500 to increase the cost for upcoming projects. All the loans period was twelve months with an interest rate of 6.5% per annum. For accounting purpose, the due from and due to related party balances was being net off. As of June 30, 2025 and December 31, 2024, the outstanding loan balances and allocated research fees were both amounted to $681,185, and accrued interest balances were both amounted $158,798. The business conditions of BioFirst (Australia) deteriorated and, as a result, the Company recognized expected credit losses of $839,983 for the year ended December 31, 2023. The Company stopped accruing interest income recognizing such losses.
(4) | On February 24, 2015, BioLite Taiwan and BioHopeKing Corporation (the “BHK”) entered into a co-development agreement, (the “BHK Co-Development Agreement”, see Note 4). The development costs shall be shared 50/50 between BHK and the Company. Under the term of the agreement, BioLite issued relevant development cost to BHK. As of June 30, 2025 and December 31, 2024, due from BHK were both NTD 3,941,299 (approximately $118,633 and $120,210, respectively). The business conditions of BHK deteriorated and as a result, the Company recognized expected credit losses of NTD 3,941,299 as of December 31, 2024. No recovery was made during six months ended June 30, 2025.
|  | June 30, |  |  | December 31, |
|  | 2025 |  |  | 2024 |
AiBtl Holding (1) |  | $ | 348,219 |  |  | $ | 348,219 |
The Jiangs (2) |  |  | 83,011 |  |  |  | 274,170 |
Shareholders (3) |  |  | 158,906 |  |  |  | 142,130 |
Lion Art Promotions Inc (4) |  |  | 125,488 |  |  |  | - |
Directors (5) |  |  | 12,952 |  |  |  | 8,526 |
Total |  | $ | 728,576 |  |  | $ | 773,045 |
(1) | On April 11, 2024, May 10, 2024, August 15, 2024, and December 24, 2024, AiBtl received short-term loans from its founding shareholder, AiBtl Holding, for the principal amounts of $40,000, $60,000, $33,732, and $214,487, respectively, for the purpose of daily operations. These loans do not bear interest and are payable on demand.
(2) | Since 2019, the Jiangs advanced funds to the Company for working capital purpose. As of June 30, 2025 and December 31, 2024, the outstanding balance due to the Jiangs amounted to $83,011 and $274,170, respectively. These loans bear no interest and are due on demand.
(3) | Since 2018, the Company’s shareholders have advanced funds to the Company for working capital purposes. The advances bear an interest rate around 12% per annum. As of June 30, 2025 and December 31, 2024, the outstanding principal and accrued interest was $158,906 and $142,130, respectively. Interest expenses in connection with these loans were $4,995 and $4,019 for the three months ended June 30, 2025 and 2024, respectively, and were $9,989 and $9,957 for the six months ended June 30, 2025 and 2024, respectively.
(4) | Accrued consulting services fee as of June 30, 2025 and December 31, 2024, respectively.
(5) | As of June 30, 2025 and December 31, 2024, due to Directors amounted to $12,952 and $8,526, respectively, were related to the daily operating expenses since inception in 2023 paid by the Directors of AiBtl on behalf of the entity.

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- Definition Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, 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 Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1 + Details
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