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v3.24.1

Related Party Transactions (Tables) | 12 Months Ended
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Dec. 31, 2023
Related Party Transactions [Abstract] |
Schedule of Related Party Balances | The following are related party balances as of December 31, 2023 and 2022.
|  | 2023 |  |  | 2022 |
Accounts receivable |  |  |  |  |  |
Beijing Zhongzhe Yuantong Technology Co., Ltd.(1) |  | $ | - |  |  | $ | 399,465 |
|  | $ | - |  |  | $ | 399,465 |
|  | 2023 |  |  | 2022 |
Due to related parties |  |  |  |  |  |
Fengqi (Beijing) Zhineng Technology Co., Ltd.(2) |  | $ | - |  |  | $ | 598 |
|  | $ | - |  |  | $ | 598 |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Cost of revenues |  |  |  |  |  |  |  |  |
Fengqi (Beijing) Zhineng Technology Co., Ltd.(2) |  | $ | 8,480 |  |  | $ | 11,830 |  |  | $ | 52,961 |
|  | $ | 8,480 |  |  | $ | 11,830 |  |  | $ | 52,961 |
| (1) | Beijing Zhongzhe Yuantong Technology Co., Ltd. (“Beijing Zhongzhe”) and one of the minority shareholders of HiTek are under common control. As of December 31, 2022, accounts receivable from Beijing Zhongzhe Yuantong Technology Co., Ltd. was $399,465. As of December 31, 2023, it was collected by the Company.
| (2) | Mr. Yin is the director and a minority shareholder of Fengqi (Beijing) Zhineng Technology Co., Ltd. The Company purchased from Fengqi (Beijing) Zhineng Technology Co., Ltd. hardware of $8,480, $11,830 and $52,961 for fiscal year ended December 31, 2023, 2022 and 2021, respectively. As of December 31, 2023 and 2022, the Company has outstanding advances owed to Fengqi (Beijing) Zhineng Technology Co., Ltd., of $nil and $598, respectively. The advances are due on demand and non-interest bearing.

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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 No definition available. + Details
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