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v3.23.3

Related Party Transactions | 12 Months Ended
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Jun. 30, 2023
Related Party Transactions [Abstract] |
RELATED PARTY TRANSACTIONS | NOTE 13 – RELATED PARTY TRANSACTIONS Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operational decisions. The related parties that had transactions or balances with the Company in 2023 and 2022 consisted of:
Related Party |  | Relationship with the Company
Xiao Feng Yang |  | Chairman of the Board
Raymond Ming Hui Lin |  | CEO of the Company
Economic Modeling Information Technology Co., Ltd. (“EMIT”) |  | Equity investee of the Company
Beijing Bright Technology Co., Ltd (“Beijing Bright”) |  | Noncontrolling interest shareholder of JAJI China
UniDev |  | Equity investee of the Company
Fuson Group Limited (“Fuson”) |  | Equity investee of the Company
MCT |  | Noncontrolling interest shareholder of MSCT
(a) Related party balances The balances due from and due to related parties were as follows:
|  | As of June 30, |
|  | 2023 |  |  | 2022 |
Due from related parties: |  |  |  |  |  |
UniDev |  | $ | 201,908 |  |  | $ | 44,341 |
Fuson |  |  | 189,363 |  |  |  | 3,887 |
EMIT |  |  | - |  |  |  | 226,421 |
Beijing Bright |  |  | - |  |  |  | 102,993 |
Total |  | $ | 391,271 |  |  | $ | 377,642 |
Due from related parties mainly represents loan provided to UniDey and Fuson and unreceived IT service fee from Fuson.
|  | As of June 30, |
|  | 2023 |  |  | 2022 |
Due to related parties: |  |  |  |  |  |
UniDev |  | $ | 19,445 |  |  | $ | 33,727 |
MCT |  |  | 5,444 |  |  |  | 5,541 |
EMIT |  |  | - |  |  |  | 27,616 |
Total |  | $ | 24,889 |  |  | $ | 66,884 |
Due to related parties mainly represents the unpaid consulting service fee to UniDev and unpaid administrative fee to MCT.
(b) | Related party transactions
|  | For the year ended, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
a) Consulting services provided to the related parties |  |  |  |  |  |  |  |  |
UniDev |  | $ | - |  |  | $ | 46,008 |  |  | $ | - |
EMIT |  |  | 158 |  |  |  | 6,016 |  |  |  | - |
Fuson |  |  | 57,418 |  |  |  | - |  |  |  | - |
CLPS Lihong |  |  | - |  |  |  | - |  |  |  | 269,472 |
|  | $ | 57,576 |  |  | $ | 52,024 |  |  | $ | 269,472 |
b) Services provided by the related parties |  |  |  |  |  |  |  |  |  |  |  |
EMIT |  | $ | 221,584 |  |  | $ | 157,762 |  |  | $ | 758,976 |
UniDev |  |  | 269,966 |  |  |  | 34,995 |  |  |  | - |
Beijing Bright |  |  | 99,208 |  |  |  | 142,487 |  |  |  | 604,033 |
|  | $ | 590,758 |  |  | $ | 335,244 |  |  | $ | 1,363,009 |
c) Loans provided to the related parties |  |  |  |  |  |  |  |  |  |  |  |
UniDev |  | $ | 143,810 |  |  | $ | - |  |  | $ | - |
Fuson |  |  | 130,402 |  |  |  | - |  |  |  | - |
EMIT |  |  | - |  |  |  | 83,651 |  |  |  | 151,783 |
|  | $ | 274,212 |  |  | $ | 83,651 |  |  | $ | 151,783 |
d) Repayment of loans from the related parties |  |  |  |  |  |  |  |  |  |  |  |
EMIT |  | $ | 204,211 |  |  | $ | 15,491 |  |  | $ | - |
|  | $ | 204,211 |  |  | $ | 15,491 |  |  | $ | - |
e) Interest income received from the related parties |  |  |  |  |  |  |  |  |  |  |  |
UniDev |  | $ | 6,342 |  |  | $ | - |  |  | $ | - |
Fuson |  |  | 1,518 |  |  |  | - |  |  |  | - |
EMIT |  |  | 3,704 |  |  |  | 9,260 |  |  |  | - |
|  | $ | 11,564 |  |  | $ | 9,260 |  |  | $ | - |
f) Rental income from the related party |  |  |  |  |  |  |  |  |  |  |  |
Fuson |  | $ | 10,718 |  |  | $ | 3,587 |  |  | $ | - |

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