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RELATED PARTY TRANSACTIONS
 12 Months Ended
Dec. 31, 2021
RELATED PARTY TRANSACTIONS  
Related Party Transactions

NOTE 15 – 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 77.98% 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

year ended

December 31,

2021

 

 

For the

year ended

December 31,

2020

 

BZIM

 

No transaction during the year

 

NA

 

 

NA

 

ZNTB

 

Office rental paid on behalf of the Group

 

$189,235

 

 

 

-

 

BXDT

 

System service fee

 

$485,190

 

 

 

-

 

HZTC

 

System service fee

 

$739,016

 

 

 

-