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Due From/(To) Related Parties
 6 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
Due From/(To) Related Parties

14. Due From/(To) Related Parties

 

The following is a list of the related parties with whom the Group conducted transactions during the six months ended December 31, 2024 and 2023, and their relation with the Group:

 

Name of the related parties   Relation with the Group
Mr. Joseph Shu Sang Law   Chairman of board of director
Mr. Tingjun Yang   Co-chief executive officer and director
Mr. Ye Tao   Co-chief executive officer
Mr. Zhiyong Lin   Chief technical officer
Ms. Hui Wang   Former chief financial officer

 

   As of
December 31,
2024		   As of
June 30,
2024		 
   US$   US$ 
Due from related parties – current        
Mr. Ye Tao  $5,936   $5,962 
Ms. Hui Wang   —    25,614 
Mr. Zhiyong Lin   —    437 
   $5,936   $32,013 

 

Due from related parties represents cash advanced to these related parties to use for the Company’s operations.

 

   As of
December 31,
2024		   As of
June 30,
2024		 
   US$   US$ 
Due to a related party – current        
Mr. Tingjun Yang  $63,000   $— 
   $63,000   $— 
           
Due to a related party – non-current          
Mr. Joseph Shu Sang Law  $85,567   $402,202 
   $85,567   $402,202 

 

Due to a related party – current represented the payment from this related party on behalf of the Company for the Company’s operation. Due to a related party – non-current represents interest-free loan payable on money borrowed by the Company and used for daily operation. The payable is interest-free and has maturity date on September 30, 2027. As of the date of this financial statement, nil of the payable has been settled.

The major related party transactions with Mr. Joseph Shu Sang Law are summarized as follows:

 

   Amount
due to		 
   US$ 
Balance as of July 1, 2024  $402,202 
Loan borrowed from related party   50,859 
Repayment of loan to related party   (370,541)
Exchange rate translation difference   3,047 
Balance as of December 31, 2024  $85,567