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Related party transactions (Tables)
 12 Months Ended
Sep. 30, 2024
Related Party Transactions [Abstract]  
Schedule of related party transactions

The Group had the following significant related party transactions for the years ended September 30, 2022, 2023 and 2024:

 

   2022   2023   2024 
   For the years ended September 30, 
   2022   2023   2024 
             
Collection and settlement of loan to related parties               
Beijing Qichuang  $3,524   $106   $69 
Dr. Houqi Zhang   -    87    - 
Mr. Jun Lian   -    14    - 
Others   23    10    1 
Total  $3,547   $217   $70 
                
Proceeds from borrowings from related parties               
Dr. Houqi Zhang (1)  $-   $1,823   $629 
Qifu Future   -    -    304 
Mr. Jun Lian   -    535    268 
Ms. Jun Wang   -    -    214 
Mr. Hui Zhang   -    14    151 
Others   -    3    - 
Total  $-   $2,375   $1,566 
                
Repayment and settlement of borrowings to related parties               
Dr. Houqi Zhang  $1,565   $2,092   $390 
Qifu Future   -    -    305 
Mr. Jun Lian   -    535    236 
Ms. Jun Wang   -    43    97 
Mr. Hui Zhang   -    14    97 
Zhongchi Chi Fu Management   -    -    21 
Changsha Qixin   591    -    - 
Others   31    -    - 
Total  $2,187   $2,684   $1,146 
                
Loan to related parties               
Qifu Future  $-   $-   $83 
Zhongchi Chefu Data   -    -    34 
Changsha Tongjie   49    5    - 
Others   87    77    - 
Total  $136   $82   $117 
                
Related parties transferred the loan principal lent to the Company and related interest to Dr. Houqi Zhang               
Huashui Yixing to Dr. Houqi Zhang   -    502    - 
Zhongchi Chi Fu Management to Dr. Houqi Zhang   -    -    83 
                
Advance to Dr. Houqi Zhang (2)   -    156    - 
                
Advance to Dr. Houqi Zhang and offset between loan from Dr. Houqi Zhang   -    -    153 

 

(1)Dr. Houqi Zhang and Ms. Yalin Shen provided personal guarantees for certain bank loans to the Group, see Note 10 Borrowings for details.
(2)Advance to Dr. Houqi Zhang represented cash in advance to Dr. Houqi Zhang for the potential expense for the Group’s financing during the fiscal year 2023, and the advance payment has been offset by the loan from Dr. Houqi Zhang in January 2024.

 

 

AUTOZI INTERNET TECHNOLOGY (GLOBAL) LTD.

NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2022, 2023 AND 2024

(In U.S. dollars in thousands, except share and per share data)

 

Amounts due from related parties

 

Amounts due from related parties consisted of the following for the periods indicated:

 

      2023   2024 
      As of September 30, 
      2023   2024 
Related parties  Nature        
Changsha Tongjie (3)  Loan to related party  $1,018   $1,058 
Mr. Yufeng Bai (3)  Loan to related party   284    295 
Beijing Qichuang  Loan to related party   154    89 
Others  Others   295    254 
Total     $1,751   $1,696 
Less: allowance of credit losses (4)      (1,348)   (1,402)
Amounts due from related parties, net     $403   $294 

 

(5)The Group has recorded full allowance on loan to Changsha Tongjie, Henan Zhongqi and Mr. Yufeng Bai as of September 30, 2023 and 2024 as the collectability is remote.
(6)The total credit losses for the related party receivables were US$72, US$1,476 and nil for the years ended September 30, 2022, 2023 and 2024, respectively.

 

Amounts due to related parties

 

Amount due to related parties consisted of the following for the periods indicated:

      2023   2024 
      As of September 30, 
      2023   2024 
Related parties  Nature        
Dr. Houqi Zhang  Loan from related party  $218   $400 
Ms. Jun Wang  Loan from related party   103    227 
Zhongchi Chi Fu Management  Loan from related party   103    - 
Others  Others   54    140 
Total     $478   $767