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Loan Payables | 6 Months Ended
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Dec. 31, 2023
Loan Payables [Abstract] |
LOAN PAYABLES | NOTE 10 – LOAN PAYABLES As of December 31, 2023, the short-term and long-term loan payables consisted of four loans which mature on dates ranging from June 5, 2024 through October 6, 2024 with interest rates ranging from 3.65% to 5.00%. The first two loans are collateralized by Tianjuyuan’s land use right and building ownership right.
No. |  | Payee |  | Loan period per agreement |  | Interest Rate |  |  | December 31, 2023 |
1 |  | Beijing Bank -Pinggu Branch |  | June 5, 2023-June 5, 2024 |  |  | 4.15 | % |  |  | 1,412,000 |
2 |  | Huaxia Bank -HuaiRou Branch |  | June 28, 2023-June 28, 2024 |  |  | 3.65 | % |  |  | 1,412,000 |
3 |  | Pinggu New Village Bank |  | June 29, 2023-June 28, 2024 |  |  | 5.00 | % |  |  | 988,400 |
4 |  | Industrial Bank Co. Ltd |  | August 19, 2022-February 18, 2024 |  |  | 3.98 | % |  |  | 56,480 |
5 |  | Industrial Bank Co. Ltd |  | August 19, 2022-August 18, 2024 |  |  | 3.98 | % |  |  | 960,160 |
6 |  | Industrial Bank Co. Ltd |  | October 7, 2023-October 6, 2024 |  |  | 3.70 | % |  |  | 2,824,000 |
|  | Total |  |  |  |  |  |  |  | $ | 7,653,040 |
The interest expense from loans was $141,367 and $149,983 for the six months ended December 31, 2023 and 2022, respectively.

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