XML 44 R34.htm IDEA: XBRL DOCUMENT v3.24.2.u1

Related Party Transactions and Balances (Tables)

6 Months Ended

Jun. 30, 2024

Related Party Transactions [Abstract]

Schedule of related party transactions and balances

Purchases from a related party – consisted of the following:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Nature of

For the Three Months Ended June 30,

For the Six Months Ended June 30,

Name of Related Party

​

Relationship

​

transactions

​

2024

​

2023

​

2024

​

2023

​

​

​

​

​

​

USD

​

USD

​

USD

​

USD

Focal Capital Holding Limited

​

An entity under common control

​

Purchase

​

$

1,177,582

​

$

2,121,969

​

$

2,754,804

​

$

4,969,730

Foremost Worldwide Co., Ltd

An entity under common control

Purchase

​

​

2,401,118

​

​

427,516

​

​

3,954,057

​

​

1,080,745

Rizhao Foremost Woodwork Manufacturing Co., Ltd.

​

An entity under common control

Purchase

​

​

7,045

​

​

—

​

​

24,069

​

​

—

Foremost Home Inc.

​

An entity under common control

Purchase

​

​

—

​

​

206,143

​

​

—

​

​

206,143

​

​

​

​

​

​

$

3,585,745

​

$

2,755,628

​

$

6,732,930

​

$

6,256,618

​

The ending balance of such transactions as of June 30, 2024 and December 31, 2023, are listed of the following:

Prepayments — related parties

​	​	​	​	​	​	​
​	​	As of		​	As of
​		June 30,			December 31,
Name of Related Party	​	2024		​	2023
​	​	USD		​	USD
​	​	​		​	​
Focal Capital Holding Limited	​	$	11,658,181	​	$	6,658,498
Rizhao Foremost Woodwork Manufacturing Co., Ltd.	​	​	15,917	​	​	9,181
​	​	$	11,674,098	​	$	6,667,679

​

Accounts Payables — related parties

​	​	​	​	​	​	​
​	​	As of		​	As of
​		June 30,			December 31,
Name of Related Party	​	2024		​	2023
​	​	USD		​	USD
​	​	​		​	​
Foremost Worldwide Co., Ltd	​	$	1,016,263	​	$	735,308
​	​	$	1,016,263	​	$	735,308

Other Payables (Receivables) — related parties

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	As of		​	As of
​		​		Nature of		June 30,			December 31,
Name of Related Party	​	Relationship	​	transactions	​	2024		​	2023
​	​	​	​	​	​	USD		​	USD
​	​	​	​	​	​	​		​	​
Foremost Home Inc. (“FHI”)	​	An entity under common control	​	Shared services and Miscellaneous expenses	​	​	1,853,015	​	​	1,183,612
Foremost Worldwide Co., Ltd	​	An entity under common control	​	Shared services and Miscellaneous expenses	​	​	266,176	​	​	(251,008)
Focal Capital Holding Limited	​	An entity under common control	​	Shared services and Miscellaneous expenses	​	​	12,756	​	​	—
F.P.Z. Furniture (Cambodia) Co., Ltd	​	An entity under common control	​	Shared services and Miscellaneous expenses	​	​	(124,938)	​	​	—
​	​	​	​	​	​	$	2,007,009	​	$	932,604

X

- References

No definition available.

+ Details

Name:	us-gaap_RelatedPartyTransactionsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration