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Related Party Transaction
 6 Months Ended
Jun. 30, 2023
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTION

19. RELATED PARTY TRANSACTION

 

As of June 30, 2023, the amounts due to the related parties were consisted of the followings:

 

Name  Amount
(US$)		   Relationship  Note
Zhi Yan   212,358   General Manager of a subsidiary of the Company  Accrued expenses, interest free and payment on demand.
Reits (Beijing) Technology Co., Ltd   14,013   Zhi Yan is the legal representative of this company  Acquisition of intangibles upon the full completion of the online platform pursuant to an agreement originally entered between parties before Zhi Yan became a related party. The amount is interest free and payment on demand.
Total  $226,372       

 

As of June 30, 2023, the amounts due from the related parties were consisted of the followings:

 

Name  Amount
(US$)		   Relationship  Note
Kai Xu   50,365   Deputy General Manager of a subsidiary of the Company  Prepaid expenses, interest free and payment on demand.
Ming Yi   5,168   Chief Financial Officer of the Company  Prepaid expenses, interest free and payment on demand.
Total  $55,533       

 

During six months ended June 30, 2023, the Company had the following transactions with related parties:  

 

Name   Amount     Relationship   Note
JKNDC Limited   $ (3,827 )   A company owned by the minority shareholder of NTAM   Other income
JKNDC Limited     710,594     A company owned by the minority shareholder of NTAM   Cost of revenue- Asset management service payable to JKNDC
Alpha Yield Limited     411,184     A director of NTAM is a shareholder of this company   Consultancy fee payable to Alpha Yield
Nice Talent Partner Limited     229,627     A company owned by the minority shareholder of NTAM   Consultancy fee payable to Nice Talent Partner

 

As of December 31, 2022, the amount due to the related parties was consisted of the followings:

 

Name  Amount
(US$)		   Relationship  Note
Reits (Beijing) Technology Co., Ltd   14,538   Zhi Yan is the legal representative of this company  Acquisition of intangibles upon the full completion of the online platform pursuant to an agreement originally entered between parties before Zhi Yan was the general manager of our subsidiary.
Zhi Yan   230,281   General Manager of a subsidiary of the Company  Other payables, interest free and payment on demand.
Total  $244,819       

 

As of December 31, 2022, the amount due from the related parties was consisted of the followings:

 

Name   Amount     Relationship   Note
Kai Xu   $ 16     Deputy General Manager of a subsidiary of the Company   Advance to the officer, interest free and payment on demand.
Ming Yi     12,135     Chief Financial Officer of the Company   Advance to the officer, interest free and payment on demand.
Jing Chen     971     Vice president of the Company   Advance to the officer, interest free and payment on demand.
Ola Johannes Lind     2,168     Chief Executive Officer of the FTFT Capital Investments L.L.C. and Chief Strategy Officer of the Company   Advance to the officer, interest free and payment on demand.
Wong Tai Kue     37,836     NTAM’s Director   Advance to the directors Amount is interest free and payment on demand.
Total   $ 53,126          

 

* The related party transactions have been approved by the Company’s Audit Committee.