Related Party Balances and Transactions

6 Months Ended

Dec. 31, 2025

Related Party Balances and Transactions [Abstract]

RELATED PARTY BALANCES AND TRANSACTIONS

Note 16. RELATED PARTY BALANCES AND TRANSACTIONS 

Set forth below are balances and transactions with related parties for the three months ended, for the six months ended, and as of December 31, 2025, and as of June 30, 2025.

Due from related party, net

As of December 31, 2025 and June 30, 2025, the outstanding amounts due from related parties consist of the following:

	As of			As of
	December 31,			June 30,
	2025			2025
Shanghai Baoyin Industrial Co., Ltd (1)	$	1,111,241		$	1,084,793
Zhejiang Jinbang Fuel Energy Co., Ltd (2)		397,968			388,496
Less: impairment for credit losses		(1,509,209	)		(1,473,289	)
Total		-			-

Movements of allowance for credit losses were as follows:

	As of		As of
	December 31,		June 30,
	2025		2025
Beginning balance	$	1,473,289	$	2,122,376
Less: Write-off		-		(675,063	)
Exchange rate effect		35,920		25,976
Ending balance	$	1,509,209	$	1,473,289

(1) As of December 31, 2025 and June 30, 2025, the Company advanced $1,111,241 and $1,084,793 to Shanghai Baoyin Industrial Co., Ltd. (“Shanghai Baoyin”) which is 30% owned by Qinggang Wang, CEO and legal representative of Trans Pacific Logistic Shanghai Ltd. The advance is non-interest bearing. The Company provided full credit losses for the balance of the receivable. The amount due from Shanghai Baoyin changed was as a result of changes in exchange rates.

(2) As of December 31, 2025 and June 30, 2025, the Company advanced $397,968 and $388,496 to Zhejiang Jinbang Fuel Energy Co., Ltd (“Zhejiang Jinbang”) which is 30% owned by Mr. Wang Qinggang, CEO and legal representative of Trans Pacific Shanghai. The advance is non-interest bearing. The Company provided full credit losses for the balance of the receivable. The amount due from Zhejiang Jinbang changed was as a result of changes in exchange rates.

Due to related parties

As of December 31, 2025 and June 30, 2025, the Company owed $27,016 and $26,373 to Qinggang Wang, CEO and legal representative of Trans Pacific Shanghai, respectively. These payments were made on behalf of the Company for the daily business operational activities. The amount due to Qinggang Wang changed was as a result of changes in exchange rates.

As of December 31, 2025 and June 30, 2025, the Company owed $657,999 and $497,857 Zhejiang Jinbang Fuel Energy Co., Ltd (“Zhejiang Jinbang”) which is 30% owned by Mr. Wang Qinggang, CEO and legal representative of Trans Pacific Shanghai. These payments were made on behalf of the Company for the daily business operational activities.

The balance of due to related parties was interest-free, unsecured, and due upon demand.