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Related Party Transactions | 3 Months Ended
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Sep. 30, 2019
Related Party Transactions [Abstract] |
RELATED PARTY TRANSACTIONS | NOTE 11 - RELATED PARTY TRANSACTIONS DUE FROM RELATED PARTIES The Company had previously made temporary advances to certain shareholders of the Company and to other entities that are either owned by family members of those shareholders or to other entities that the Company has investments in. Those advances are due on demand, non-interest bearing. As of September 30, 2019 and June 30, 2019, the outstanding amounts due from related parties consist of the following:
|  | September 30, 2019 |  |  | June 30, 2019 |
Yang Bin |  | $ | 42,027 |  |  | $ | 43,688 |
Beijing Huiyinansheng Asset Management Co., Ltd (a.) |  |  | 21,041 |  |  |  | 21,873 |
Beijing Shengguang Tianyi Clothing Co., Ltd (b.) |  |  | 2,948 |  |  |  | 63,911 |
Wang Qiwei |  |  | 56,737 |  |  |  | 58,981 |
|  | $ | 122,753 |  |  | $ | 188,453 |
a. This Company is wholly owned by one of the Company's senior management. b. This Company is wholly owned by one of the Company's shareholders. DUE TO RELATED PARTIES As of September 30, 2019 and June 30, 2019, the Company had related party payables of US$ 287,066 and US$ 234,500, respectively, mainly due to the principal shareholders or certain relatives of the shareholders of the Company who lend funds for the Company's operations. The payables are unsecured, non-interest bearing and due on demand.
|  | September 30, 2019 |  |  | June 30, 2019 |
Wu Yang |  | $ | 89,727 |  |  | $ | 93,275 |
Wang Sai |  |  | 8,405 |  |  |  | 8,738 |
Chen Jiping |  |  | 952 |  |  |  | 989 |
Zhang Yuying |  |  | 0 |  |  |  | 2,913 |
Zhao Min |  |  | 187,982 |  |  |  | 128,585 |
|  | $ | 287,066 |  |  | $ | 234,500 |
SALES TO RELATED PARTIES For the three months ended September 30, 2019 and 2018, the Company recorded sales to Shaanxi Pharmaceutical Group, a related party (see Note 7), of US$ 795,548 and US$ 802,910, respectively. As of September 30, 2019 and June 30, 2019, the balance of accounts receivable due from Shaanxi Pharmaceutical Group was US$ 2,285,268 and US$ 2,706,111, respectively.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
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