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Related Parties Transaction
 6 Months Ended
Jun. 30, 2025
Related Parties Transaction [Abstract]  
Related Parties Transaction

11. Related Parties Transaction

 

As of June 30, 2025 and December 31, 2024, the outstanding balance due from related parties was $3,167,373 and $1,916,298, respectively. Significant related parties comprised much of the total outstanding balance as of June 30, 2025 are stated below:

 

        As of  
        June 30,     December 31,  
Amounts due from related parties:      2025     2024  
        Unaudited        
Ms. Haiyan Xiong   the management of the Jingshan Sanhe     3,112,123       1,866,790  
Mr. Jun Lu   the management of the Jingshan Sanhe     22,667       20,875  
Mr. Bin Zhang   the management of the Jingshan Sanhe     18,619       18,273  
Mr. Yong Yang   the management of the Fast     13,964       10,360  
Total       $ 3,167,373     $ 1,916,298  

 

These above nontrade receivables arising from transactions between the Company and certain related parties, such as loans to these related parties. These loans are unsecured, non-interest bearing and due on demand. Receivables from Ms. Haiyan Xiong mainly include advances to Ms. Haiyan Xiong for procurement of raw material and carriage.

 

As of June 30, 2025 and December 31, 2024, the outstanding balance due to related parties was $5,231,982 and $4,340,742, respectively. The balance was advanced for the working capital of the Company, non-interest bearing, and unsecured unless further disclosed.

 

Significant parties comprised much of the total outstanding balance as of June 30, 2025 and December 31, 2024 are stated below:

 

        As of  
        June 30,     December 31,  
Amounts due to related parties:       2025     2024  
        Unaudited        
Mr. Bin Zhou   Chief Executive Officer and Chairman of the Company   $ 1,467,000     $ 1,237,800  
Ms. Luojie Pu   Independent director of the Company     852,030     $ 836,190  
Hubei Shuang New Energy Technology Co., Ltd.   significant impact     937,119       438,894  
Shandong Ningwei New Energy Technology Co., Ltd.   significant impact     1,479,144       1,451,646  
Xianning Xiangtian Energy Co., Ltd.   significant impact     69,797       68,500  
Ms. Huiying Jin   the management of the Xianning Bozhuang     297,330       291,803  
Ms. Zhenni Xiong   the management of the Jingshan Sanhe     113,072       -  
Ms. Ye Zhang   the management of the Shanghai Shuning     16,490       15,909  
Total       $ 5,231,982     $ 4,340,742  

 

The balance was advanced for the working capital of the Company, non-interest bearing, and unsecured unless further disclosed.