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RELATED PARTY TRANSACTION
 3 Months Ended
Mar. 31, 2022
AMOUNT DUE TO RELATED PARTIES  
NOTE 14 - RELATED PARTY TRANSACTION

NOTE 14 – RELATED PARTY TRANSACTIONS

 

The following is the list of the related parties to which the Company has transactions with:

 

 

(a)

Beijing Zhidingwang Investment Management Limited Partnership (“BZIM”), the entity in which the Group’s CEO, Liu PiJun beneficially own 56% equity interest.

 

(b)

Zhiding Network Technology (Beijing) Co Limited (“ZNTB”), the entity in which the Group’s CEO, Liu Pijun beneficially own 78% equity interest and Group’s Director, Li Daxue beneficially own 3% equity interest.

 

(c)

Beijing Xingke Datong Technology Co Ltd (“BXDT”), the entity in which the supervisor of a subsidiary company, Deng Liangpeng beneficially own 80% equity interest.

 

(d)

Huoerguo Zhufeng Technology Co Ltd (“HZTC”), the entity in which the supervisor of a subsidiary company, Sun Tong beneficially own 46% equity interest.

 

(e)

Global Joy Trip (HK) Limited (“Global Joy HK”), the entity in which the Group’s Chairman, Daizheng and Group’s CEO, Liu Pijun are the director, the company has been dissolved in Jan 2021.

 

Related parties transactions consisted of the following as of the dates indicated.

 

Name of related party

 

Nature of transaction

 

For the

period ended

March 31,

2022

 

 

For the

year ended

December 31,

2021

 

BZIM

 

No transaction during the year

 

NA

 

 

NA

 

ZNTB

 

Office rental paid on behalf of the Group

 

$

-

 

 

 

189,235

 

BXDT

 

System service fee

 

$

618,119

 

 

 

485,190

 

HZTC

 

System service fee

 

$

-

 

 

 

739,016