XML 29 R18.htm IDEA: XBRL DOCUMENT v3.25.2
RELATED PARTY TRANSACTIONS
 6 Months Ended
Jun. 30, 2025
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 10 – RELATED PARTY TRANSACTIONS

 

On September 25, 2012, the Company purchased five floors of a commercial building in the PRC, through SYCI, from Shandong Shouguang Vegetable Seed Industry Group Co., Ltd. (the “Seller”) at a cost of approximately $5.7 million in cash, of which Mr. Ming Yang, the Chairman of the Company, had a 99% equity interest in the Seller. During the first quarter of 2018, the Company entered into an agreement with the Seller, a related party, to provide property management services for an annual amount of approximately $86,911 for five years from January 1, 2023 to December 31, 2027. The expense associated with this agreement for the three and six months ended June 30, 2025 was approximately $21,787 and $43,515. The expense associated with this agreement for the three and six months ended June 30, 2024 was approximately $21,885 and $43,867.

 

NOTE 10 – RELATED PARTY TRANSACTIONS – Continued

 

  a) Related parties

 

Name of related parties Position
Yang Ming Chairman Of the Board
Liu XiaoBin Chief Executive Officer
Li Min Chief Financial Officer
Miao NaiHui Chief Operating Officer
Chengdu Dianjinshi Culture media Co., LTD Affiliated with company officers

 

b)

 

   June 30,  December 31,
   2025  2024
Amount due to related parties:          
Yang Ming  $412,062   $410,350 
Liu Xiao Bin   887,214    887,214 
Li Min   652,495    636,264 
Miao Nai Hui   637,718    650,980 
Total  $2,589,489   $2,584,808 

 

c)

 

   June 30,
2025		  December 31,
2024
Due from related party:          
Chengdu Dianjinshi Culture media Co., LTD  $25,144   $25,040 
Total  $25,144   $25,040