RELATED PARTY TRANSACTIONS

12 Months Ended

Jun. 30, 2016

NOTE 9 - RELATED PARTY TRANSACTIONS

DUE FROM RELATED PARTIES

The Company had previously made temporary advances to certain shareholders of the Company as well as several other entities that are either owned by directors or family members of those directors. Those advances are due on demand, non-interest bearing, except for advance to Xinyang Yifangyuan Garden Technology Co., Ltd., which bears fixed monthly interest rate of 4.17% and advance to Shanxi Pharmacy Holding Group Longetive Pharmacy Co., Ltd., which bore a fixed annual interest rate of 5.1%, and was paid in full in December, 2015.

As of June 30, 2016 and 2015, the outstanding amounts due from related parties consist of the following:

	June 30, 2016		June 30, 2015
Shanxi Pharmacy Holding Group Longetive Pharmacy Co., Ltd	$	-	$	1,158,764
Xinyang Yifangyuan Garden Technology Co., Ltd		500,784		593,413
Shaanxi Pharmaceutical Group Pai’ang Medicine Co. Ltd		820,728		144,830
Yang Bin		150,504		163,700
Zhang Xin		93,312		101,494
Chang Song		85,035		64,662
Wang Qi Wei		8,279		9,005
Tian Shuangpeng		11,288		-
Zhang Yuying		-		3,624
Qi Qiuchi		1,505		171,885
KuerLe Tenet Jove Business & Trading Co., Ltd		-		163,700
Huiyin Ansheng		-		48,092
	$	1,671,435	$	2,623,169

For the year ended June 30, 2016, interest income of $261,015 recognized on these loans was included in “Interest income, net” on the consolidated statements of income and comprehensive income. For the year ended June 30, 2015, interest income of $260,874 recognized on these loans was included in “Interest income, net” on the consolidated statements of income and comprehensive income.

DUE TO RELATED PARTIES

As of June 30, 2016 and 2015, the Company has related party payables of $244,915 and $137,508, respectively, mainly due to the principal shareholders or certain relative of the shareholder of the Company who lend funds for the Company’s operations. The payables are unsecured, non-interest bearing and due on demand.

	June 30, 2016		June 30, 2015
Wang Sai		120,854		-
Wu Yang		96,398		137,508
Zhang Yuying		26,769		-
Huiyin Ansheng		894		-
	$	244,915	$	137,508

SALES TO AND PURCHASES FROM RELATED PARTIES

For the year ended June 30, 2016 and 2015, the Company recorded sales to Shaanxi Pharmaceutical Group Pai’ang Medicine Co., Ltd, a related party, of $3,014,198 and $3,176,386, respectively. There were no purchases from related parties for years ended June 30, 2016 and 2015.