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RELATED PARTY BALANCES AND TRANSACTIONS
 6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Related Party Transactions [Abstract]    
RELATED PARTY BALANCES AND TRANSACTIONS

12. RELATED PARTY BALANCES AND TRANSACTIONS

  

(1) Related parties with transactions and related party relationships

 

Name of Related Party   Relationship to the Company
Zhichao Yang   Chief Executive Officer of the company
Changbin Xia   Shareholder of the Company
Hanwu Yang   Director of the Company
Eternal Horizon International Company Limited   As a shareholder of the Company before December 15, 2020
Sen Jin   Legal representative of Vande

    

(2) Due to related parties

 

  

June 30,

2025

  

December 31,

2024

 
         
Changbin Xia(1)  $-    1,287,629 
Other   -    3,979 
Total  $-   $1,291,608 

  

(1)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

 

(1) Related parties with transactions and related party relationships

 

Name of Related Party   Relationship to the Company
Changbin Xia   Shareholder of the Company
CEDE & CO   Shareholder of the Company
Zhichao Yang   Legal representative of Xiamen Chunshang
Eternal Horizon International Company Limited   As a shareholder of the Company before December 15, 2020
Sen Jin   Legal representative of Vande

 

 

MEIWU TECHNOLOGY COMPANY LIMITED

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

 

13. RELATED PARTY BALANCES AND TRANSACTIONS (CONTINUED)

 

(2) Due to related parties

 

  

December 31,

2024

  

December 31,

2023

 
         
Eternal Horizon International Company Limited(1)  $-   $2,257,397 
Changbin Xia(2)   1,287,629    1,410,621 
Other   3,979    244,588 
Total  $1,291,608   $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.

 

During the years ended December 31, 2024 and 2023, the Company purchased nil and $18,310 food products from related parties. As of December 31, 2024 and 2023, the account payable to these related parties is nil and $15,627, respectively. For the years ended December 31, 2024 and 2023, sales to related parties is nil and $21,215, respectively.

 

 

MEIWU TECHNOLOGY COMPANY LIMITED

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS