XML 257 R45.htm IDEA: XBRL DOCUMENT v3.25.1
Summary of significant accounting policies (Tables)
 12 Months Ended
Dec. 31, 2024
Notes and other explanatory information [abstract]  
Schedule of Subsidiaries

            Percentage of 
            Ownership (%) 
Name of investor  Name of investee  Main business  Location 

December 31, 2024

   December 31, 2023 
The Company  GOAL BEYOND LIMITED (GOAL BEYOND)  Holding company  Samoa   100    100 
The Company  STAR LEADER TRADING LIMITED (STAR LEADER)  Sales of bicycle, racket, and other carbon fiber composite products  Hong Kong   100    100 
The Company  Bohong Technology Jiangsu Co., Ltd. (Bohong)  Manufacturing bicycle, racket and other carbon fiber composite products  Jiangsu, People’s Republic of China (“PRC”)   100    100 
GOAL BEYOND  YMA CORPORATION (YMA)  Product development, design, manufacturing and sales of carbon fiber composite products  Republic of China (“ROC”)   100    100 
GOAL BEYOND  TIME YIELD LIMITED (TIME YIELD)  Purchasing  Samoa   100    100 
GOAL BEYOND  Forwell Sports Equipment Co., Ltd. (Forwell)  Manufacturing bicycle, racket and other carbon fiber composite products  Dongguan, PRC   i    i 
GOAL BEYOND  YMA Composite Materials (DG) Co., Ltd. (YMA DG)  Manufacturing bicycle, racket and other carbon fiber composite products  Dongguan, PRC   i    i 
The Company  PREMIUM QUEST INTERNATIONAL LIMITED (PREMIUM QUEST)  Holding company  British Virgin Islands   100    ii 
The Company  STAR LEADER TRADING PRIVATE LIMITED (STAR LEADER SG)  Sales of bicycle, racket, and other carbon fiber composite products  Singapore   100    ii 
GOAL BEYOND  Dongguan Changrong New Material Technology Co., Ltd  Sales of bicycle, racket, and other carbon fiber composite products  Dongguan, PRC   100    ii 
PREMIUM QUEST  LITZMO B.V.  Sales of bicycle, racket, and other carbon fiber composite products  Netherlands   100    ii 

  

  

i)YMA DG and Forwell were both wholly-owned subsidiaries of the Group as of March 31, 2023. On April 1, 2023, the Group entered into an agreement with the Buyers, selling 80.5% of its equity interests in both YMA DG and Forwell to their respective management teams in a management buyout transaction. As a result, YMA DG and Forwell were excluded from the consolidated financial statements.

 

ii) Each of the newly incorporated companies has not yet received its registered capital as of December 31, 2023. Therefore, they have not allocated any funds, commenced operations, or entered into any contracts with any parties.
Schedule of Estimated Useful Lives of Property Plant and Equipment

property, plant and equipment   estimated useful lives
Leasehold improvement   2 ~ 5 years
Machinery and equipment   3 ~ 10 years
Molding equipment   2 ~ 5 years
Others   2 ~ 10 years