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SUBSEQUENT EVENTS | 12 Months Ended
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Dec. 31, 2020
SUBSEQUENT EVENTS |
NOTE 14 - SUBSEQUENT EVENTS | NOTE 14 - SUBSEQUENT EVENTS On January 25, 2021, the Company has provided a short-term loan of RMB 9 million (approximately of USD 1.38 million) to a third party with annual interest of 5%, which will be matured on November 4, 2021. On January 27, 2021, the Company has appointed a third party software company to develop a customized YCloud system to provide auto-billing management, stock management and online payment systems for a PRC tobacco Company. The estimated total development cost of customized YCloud system will be RMB 7 million (approximately of USD 1.08 million), the company has paid RMB 4 million (approximately of USD 0.62 million) for the initial development cost on January 27, 2021. On January 27, 2021, the Company made the payment of RMB 5 million (approximately of USD 0.77 million) for its renovation expenses of new office located in Beijing Economic and Technological Development Zone, Beijing, China. The Company is plan to move the headquarter to the above-mentioned office in July 2021.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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