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Related Party Transactions
 12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

13.    RELATED PARTY TRANSACTIONS

The following is a list of related parties with whom the Group has significant transactions:

No.

  

Name of Related Parties

  

Relationship with the Group

a

  

Factory Automation Technology Co., Ltd

  

3.66% owned by the Group

b

  

Far East Machinery Co., Ltd

  

A principal shareholder of the Group

c

  

David Chuang

  

The Chairman of the Board of the Group

d

  

Chiayi Sports Equipment Co., Ltd

  

David Chuang is an immediate family member of the Chairman of the Board

e

  

Peko, LLC.

  

David Chuang is the owner of Peko, LLC.

Amounts due from related parties

Amounts due from related parties consisted of the following for the periods indicated:

 

As of December 31,
   

2024

  

2023

Factory Automation Technology Co., Ltd(1)

  

$

61,370

  

$

14,132

Total

  

$

61,370

  

$

14,132

(1)      The balance mainly represented software service fee charged and prepayment for machinery to the related party.

Amounts due to related parties

Amounts due to related parties consisted of the following for the periods indicated:

 

As of December 31,
   

2024

  

2023

Far East Machinery Co., Ltd(1)

  

$

119,578

  

$

241,324

Chiayi Sports Equipment Co., Ltd(2)

  

 

181

  

 

1,643

Peko, LLC

  

 

—

  

 

32,500

Total

  

$

119,759

  

$

275,467

(1)      The balance mainly represented lease expense and utility expense payable to the related party.

(2)      The balance mainly represented utility expense payable and purchase of land and building payable to the related party.

(2)      The balance mainly represented lease expense payable to the related party.

Related party transactions

Material related party transactions consisted of the following for the periods indicated:

Related party transactions

  

For the years ended
December 31,

Nature

  

2024

  

2023

Factory Automation Technology Co., Ltd.

  

 

    

 

  

Software service fee

  

$

235,769

  

$

219,143

Purchase of machinery

  

$

698,600

  

$

114,597
   

 

    

 

  

Far East Machinery Co., Ltd

  

 

    

 

  

Software service fee

  

$

12,919

  

$

—

Lease expense

  

$

747,515

  

$

770,403

Utility expense

  

$

734,359

  

$

765,801
   

 

    

 

  

Peko, LLC

  

 

    

 

  

Lease expense

  

$

390,000

  

$

360,000
   

 

    

 

  

Chiayi Sports Equipment Co., Ltd

  

 

    

 

  

Lease expense

  

$

—

  

$

124,709

Purchase of land and buildings

  

$

—

  

$

9,488,314