v3.21.2
Related Party Balance and Transactions (Details) - Schedule of outstanding amounts loan receivable from related parties - USD ($)
Sep. 30, 2021
Jun. 30, 2021
Related Party Transaction [Line Items]    
Total $ 4,653,587 $ 4,644,969
Wang Qinggang [Member]    
Related Party Transaction [Line Items]    
Loan receivable [1] 620,478 619,329
Shanghai Baoyin Industrial Co., Ltd [Member]    
Related Party Transaction [Line Items]    
Loan receivable [2] $ 4,033,109 $ 4,025,640
[1] On June 10, 2021, the Company entered a loan agreement with Wang Qinggang, CEO and legal representative of Trans Pacific Logistic Shanghai Ltd. The loan amounted to $620,478 (RMB 4 million) and will be repaid in June 2023. There has been no change in the balance other than exchange difference.
[2] On April 10, 2021, the Company entered into a loan agreement with Shanghai Baoyin Industrial Co., Ltd. which is 30% owned by Wang Qinggang. The loan amounted to $4,644,969 (RMB 30,000,000). $619,329 (RMB 4,000,000) has been repaid as of June 30, 2021 and the rest of the loan $4,033,109 (RMB 26,000,000) is to be repaid in April 2023. The loan is unsecured and non-interest bearing. There has been no change in the balance other than exchange difference.