Related Parties Transactions

12 Months Ended

Dec. 31, 2021

Related Party Transactions [Abstract]

RELATED PARTIES TRANSACTIONS

14. RELATED PARTIES TRANSACTIONS

The Company had the following balances with related parties:

(a) Amount due from related parties

		As of December 31,
	Relationship	2021		2020
Ye Aiyun	Shareholder of the Company	$	-	$	142,450
Shenzhen Weilian Jin Meng Culture Spreading Limited	Zhu Hong is the shareholder		81,690		-
Total		$	81,690	$	142,450

The balances represent cash advance to related parties. The balances are unsecured, non-interest bearing and repayable on demand. The Company paid certain operating expenses for Shenzhen Weilian Jin Meng Culture Spreading Limited (“WLJM Culture Spreading”) in 2021 and WLJM Culture Spreading paid certain operating expenses for the Company in 2020. The Company is winding down such transactions.

(b) Amount due to related parties

		As of December 31,
	Relationship	2021		2020
Zhu Hong	Shareholder of the Company	$	79,849	$	1,059,853
Zhu Jian Yong	Shareholder of the Company		-		1,731
Shenzhen Weilian Jin Meng Culture Spreading Limited	Zhu Hong is the shareholder		-		24,800
Shenzhen Nainiang Liquor Industrial Co., Ltd.*	Zhu Hong is the shareholder		-		10,768
Total		$	79,849	$	1,097,152

The balances represent Company’s expenses paid on behalf by the related parties. The balances are unsecured, non-interest bearing and repayable on demand.

* Shenzhen Nainiang Liquor Industrial Co., Ltd. became the wholly owned subsidiary of the Company after the acquisition transaction which was closed on August 16, 2021. All intra-company transactions and balances have been eliminated on consolidation.

(c) Transactions

	For the years ended December 31,
	2021		2020
Cash advance from related parties
Shenzhen Nainiang Liquor Industrial Co., Ltd.*	$	-	$	66,683
Shenzhen Weilian Jin Meng Culture Spreading Limited		-		29,282
Total	$	-	$	95,965

	For the years ended December 31,
	2021		2020
Cash advance to related parties
Zhu Hong		-		200,876
Ye Aiyun		-		76,830
Shenzhen Weilian Jin Meng Culture Spreading Limited		81,690		6,204
Shenzhen Nainiang Liquor Industrial Co., Ltd.*		-		56,492
Total	$	81,690	$	340,402

	For the years ended December 31,
	2021		2020
Cash repayment from related parties
Ye Aiyun		142,450		-
Zhu Hong		-		1,093,131
Total	$	142,450	$	1,093,131

	For the years ended December 31,
	2021		2020
Cash repayment to related parties
Zhu Hong		980,004		-
Shenzhen Weilian Jin Meng Culture Spreading Limited		24,800		-
Zhu Jian Yong		1,731		-
Total	$	1,006,535	$	-

	For the years ended December 31,
	2021		2020
Expense paid on behalf by related parties
Zhu Hong		-		15,758
Total	$	-	$	15,758

* Shenzhen Nainiang Liquor Industrial Co., Ltd. became the wholly owned subsidiary of the Company after the acquisition transaction which was closed on August 16, 2021. All intra-company transactions and balances have been eliminated on consolidation.