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SCHEDULE OF SHORT TERM BANK LOANS (Details) - USD ($)
3 Months Ended 12 Months Ended
Sep. 30, 2024
Jun. 30, 2024
Short-Term Debt [Line Items]    
Total short-term bank loans $ 13,723,970 $ 13,512,595
Jiangnan Rural Commercial Bank [Member]    
Short-Term Debt [Line Items]    
Total short-term bank loans $ 427,662 [1] $ 412,800 [2]
Maturity date 2025/5/21 [1] 2025/5/21 [2]
Interest rate 4.65% [1] 4.65% [2]
Bank of Jiangsu [Member]    
Short-Term Debt [Line Items]    
Total short-term bank loans $ 419,964 $ 405,369
Maturity date 2025/1/20 2025/1/20
Interest rate 4.00% 4.00%
Bank of China One [Member]    
Short-Term Debt [Line Items]    
Total short-term bank loans $ 420,535 [3] $ 405,920 [4]
Maturity date 2024/6/26 [3] 2024/6/26 [4]
Interest rate 4.90% [3] 4.90% [4]
United Overseas Bank [Member]    
Short-Term Debt [Line Items]    
Total short-term bank loans $ 9,533,450 [5] $ 9,536,508 [6]
Maturity date October 2024- March 2025 [5] July 2024 - December 2024 [6]
Interest rate 4.20% [5] 4.20% [6]
Industrial and Commercial Bank of China One [Member]    
Short-Term Debt [Line Items]    
Total short-term bank loans $ 427,662 $ 412,800
Maturity date 2025/06/20 2025/06/20
Interest rate 3.75% 3.75%
Bank of China [Member]    
Short-Term Debt [Line Items]    
Total short-term bank loans $ 427,662 [7] $ 412,800 [8]
Maturity date 2025/2/7 [7] 2025/2/7 [8]
Interest rate 3.45% [7] 3.45% [8]
Chongquing Rural Commercial Bank [Member]    
Short-Term Debt [Line Items]    
Total short-term bank loans $ 1,354,264 [9] $ 1,307,199 [10]
Maturity date 2025/3/18 [9] 2025/3/18 [10]
Interest rate 4.30% [9] 4.30% [10]
Industrial and Commercial Bank of China Two [Member]    
Short-Term Debt [Line Items]    
Total short-term bank loans $ 712,771 [11] $ 619,199 [12]
Maturity date 2025/9/20 [11] 2024/9/22 [12]
Interest rate 3.10% [11] 3.45% [12]
[1] Guaranteed by Mr. Liu Fengming, the former CEO of the Company, Beijing Kanghuayuan Technology, one of the shareholders of the Company and pledged by the patent rights of the Company.
[2] Guaranteed by Mr. Liu Fengming, the former CEO of the Company, Beijing Kanghuayuan Technology, one of the shareholders of the Company and pledged by the patent rights of the Company.
[3] Guaranteed by Mr. Liu Fengming, the former CEO of the Company, and his wife, Ms. Jie Liang. Upon the maturity of the loan, the bank offered the Company an extension, however, the Company failed to sign the extension agreement due to an administrative issue. As of the date of this report, the Company has not received any notice from the bank for repayment, and it expects to continue using this bank facility.
[4] Guaranteed by Mr. Liu Fengming, the former CEO of the Company, and his wife, Ms. Jie Liang. Upon the maturity of the loan, the bank offered the Company an extension, however, the Company failed to sign the extension agreement due to an administrative issue. As of the date of this report, the Company has not received any notice from the bank for repayment, and it expects to continue using this bank facility.
[5] Guaranteed by Ms. Wang Xiaohui and Mr. Chi Keung Yan, two of the shareholders of the Company, and the family member of Ms. Wang Xiaohui, Chongqing Huajian, Chongqing Yufan and Chongqing Yiyao Electromechanical Co., Ltd. In addition, Chongqing Huajian and Chongqing Yufan also pledged their properties as collateral to guarantee the Company’s loans from United Overseas Bank. As of the date of this report, the Company borrowed additional loans of approximately US$2.5 million under this loan agreement.
[6] Guaranteed by Ms. Wang Xiaohui and Mr. Chi Keung Yan, two of the shareholders of the Company, and the family member of Ms. Wang Xiaohui, Chongqing Huajian, Chongqing Yufan and Chongqing Yiyao Electromechanical Co., Ltd. In addition, Chongqing Huajian and Chongqing Yufan also pledged their properties as collateral to guarantee the Company’s loans from United Overseas Bank. As of the date of this report, the Company borrowed additional loans of approximately US$4.2 million under this loan agreement.
[7] Guaranteed by Ms. Wang Xiaohui and her family member, as well as the other subsidiary of the Company, Chongqing Wintus. In addition, Chongqing Huajian and another third party pledged their properties to guarantee the Company’s loan from Bank of China.
[8] Guaranteed by Ms. Wang Xiaohui and her family member, as well as the other subsidiary of the Company, Chongqing Wintus. In addition, Chongqing Huajian and another third party pledged their properties to guarantee the Company’s loan from Bank of China.
[9] Guaranteed by Ms. Wang Xiaohui, one of the shareholders of the Company, her family members, and Chongqing Huajian. The loan is also guaranteed by other subsidiaries of the Company, Wulong Wintus Silk Co., Ltd (“Wulong Wintus”), Chongqing Hongsheng Silk Co., Ltd and Chongqing Liangping Wintus Textile Ltd (“Liangping Wintus”). In addition, Chongqing Huajian pledged its properties to guarantee the Company’s loan from Chongqing Rural Commercial Bank.
[10] Guaranteed by Ms. Wang Xiaohui, one of the shareholders of the Company, her family members, and Chongqing Huajian. The loan is also guaranteed by other subsidiaries of the Company, Wulong Wintus Silk Co., Ltd (“Wulong Wintus”), Chongqing Hongsheng Silk Co., Ltd and Chongqing Liangping Wintus Textile Ltd (“Liangping Wintus”). In addition, Chongqing Huajian pledged its properties to guarantee the Company’s loan from Chongqing Rural Commercial Bank.
[11] The loan is guaranteed by Chongqing Wintus, a subsidiary of the Company. In addition, the Company’s properties with net book values of US$623,712 were pledged as collateral to secure this loan.
[12] Guaranteed by the other subsidiary of the Company, Chongqing Wintus. In addition, the Company’s properties with net book values of US$605,195 were pledged as collateral to secure this loan as of June 30, 2024. The loan was fully repaid upon maturity.