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RELATED PARTY BALANCES AND TRANSACTIONS | 6 Months Ended | 12 Months Ended
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Jun. 30, 2024 | Dec. 31, 2023
Related Party Transactions [Abstract] |  |
RELATED PARTY BALANCES AND TRANSACTIONS | 13. RELATED PARTY BALANCES AND TRANSACTIONS SCHEDULE OF RELATED PARTY TRANSACTIONS (1) Related parties with transactions and related party relationships
Name of Related Party |  | Relationship to the Company
Hanwu Yang |  | Shareholder of the Company
Changbin Xia |  | Shareholder of the Company
Eternal Horizon International Company Limited |  | As a shareholder of the Company before December 15, 2020
Yanping Guo |  | Legal representative of Vande
Mishan City Shenmi Dazhong Management Consulting Partnership (“ShenMi DaZhong”) |  | Shareholder of the Company
Haiyan Qin, Hui Wang and other 11 individuals |  | Shareholders of ShenMi DaZhong
Shan’xi Nongbei New Agriculture Technology Co., Ltd and other 8 companies |  | Associated with shareholders of ShenMi DaZhong
MEIWU TECHNOLOGY COMPANY LIMITED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 13. RELATED PARTY BALANCES AND TRANSACTIONS (CONTINUED) SCHEDULE OF DUE TO RELATED PARTIES (2) Due to related parties
|  | June 30, 2024 |  |  | December 31, 2023 |
Eternal Horizon International Company Limited(1) |  | $ | 2,200,194 |  |  | $ | 2,257,397 |
Changbin Xia(2) |  | $ | 1,378,147 |  |  |  | 1,410,621 |
Other |  |  | 236,841 |  |  |  | 244,588 |
Total |  | $ | 3,815,182 |  |  | $ | 3,912,606 |
(1) | During IPO, the underwriters purchased 999,910 ordinary shares from a selling shareholder for $4,999,550. The gross proceeds were wired into the Company’s account and was invested in loan receivable together with net proceeds from IPO. The Company paid $2.6 million to the underwriters for the year ended December 31, 2022.
(2) | The Company borrowed loans as working capital from one shareholder Changbin Xia as well as the legal representative of Vande. The balance due to related parties is interest-free and due on demand.
MEIWU TECHNOLOGY COMPANY LIMITED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | 13. RELATED PARTY BALANCES AND TRANSACTIONS SCHEDULE OF RELATED PARTY TRANSACTIONS (1) Related parties with transactions and related party relationships
Name of Related Party |  | Relationship to the Company
Hanwu Yang |  | Shareholder of the Company
Changbin Xia |  | Shareholder of the Company
Eternal Horizon International Company Limited |  | As a shareholder of the Company before December 15, 2020
Yanping Guo |  | Legal representative of Vande
Mishan City Shenmi Dazhong Management Consulting Partnership (“ShenMi DaZhong”) |  | Shareholder of the Company
Haiyan Qin, Hui Wang and other 11 individuals |  | Shareholders of ShenMi DaZhong
Shan’xi Nongbei New Agriculture Technology Co., Ltd and other 8 companies |  | Associated with shareholders of ShenMi DaZhong
MEIWU TECHNOLOGY COMPANY LIMITED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 13. RELATED PARTY BALANCES AND TRANSACTIONS (CONTINUED) SCHEDULE OF DUE TO RELATED PARTIES (2) Due to related parties
|  | December 31, 2023 |  |  | December 31, 2022 |
Eternal Horizon International Company Limited(1) |  | $ | 2,257,397 |  |  | $ | 2,323,475 |
Changbin Xia(2) |  | $ | 1,410,621 |  |  |  | 1,337,164 |
Other |  |  | 244,588 |  |  |  | 19,078 |
Total |  | $ | 3,912,606 |  |  | $ | 3,679,717 |
(1) | During IPO, the underwriters purchased 999,910 ordinary shares from a selling shareholder for $4,999,550. The gross proceeds were wired into the Company’s account and was invested in loan receivable together with net proceeds from IPO. The Company paid $2.6 million to the underwriters for the year ended December 31, 2022.
(2) | The Company borrowed loans as working capital from one shareholder Changbin Xia as well as the legal representative of Vande. The balance due to related parties is interest-free and due on demand.
During the years ended December 31, 2023, 2022 and 2021, the Company purchased $18,310, $29,190 and $42,692 food products from related parties. As of December 31, 2023 and 2022, the account payable to these related parties is $15,627 and $14,647, respectively. For the years ended December 31, 2023, 2022 and 2021, sales to related parties is $21,215, $56,625 and $151,477, respectively. The Company’s shareholder, ShenMi DaZhong, and ShenMi DaZhong’s limited partners have received sales commissions of nil, $36,793 and $27,932 during the years ended December 31, 2023, 2022 and 2021.

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