CONCENTRATION OF RISKS

6 Months Ended

Jun. 30, 2024

CONCENTRATION OF RISKS

CONCENTRATION OF RISKS

NOTE 9 - CONCENTRATION OF RISKS

a) Major customers

During the three months and six months ended June 30, 2024 and 2023, the Company did not have any material recognizable major customers accounted for 10% or more of the Company’s revenue.

b) Major suppliers

For three months ended June 30, 2024 and 2023, the suppliers who accounted for 10% or more of the Company’s cost of sales and their balances at year ended are presented as follows:

	2024		2023		2024			2023			2024		2023
	Purchase				Percentage of purchases						Accounts payable trade
Vendor A	$	279,263	$	471,363		16.57	%		21.16	%	$	304,561	$	547,406
Vendor B	$	274,081	$	440,135		16.26	%		19.76	%	$	274,842	$	426,509
Vendor C	$	181,885	$	244,265		10.79	%		10.97	%	$	117,148	$	256,315
Vendor D	$	177,985	$	254,165		10.56	%		11.41	%	$	112,482	$	195,856
Vendor E	$	-	$	275,175		-			12.36	%	$	-	$	-
	$	913,214	$	1,685,103		54.18	%		75.66	%	$	809,033	$	1,426,086

For six months ended June 30, 2024 and 2023, the suppliers who accounted for 10% or more of the Company’s cost of sales and their balances at year ended are presented as follows:

	2024		2023		2024			2023			2024		2023
	Purchase				Percentage of purchases						Accounts payable trade
Vendor A	$	671,441	$	669,389		18.13	%		15.80	%	$	304,561	$	547,406
Vendor B	$	620,397	$	850,293		16.76	%		20.08	%	$	274,842	$	426,509
Vendor C	$	492,944	$	567,721		13.31	%		13.40	%	$	112,482	$	195,856
Vendor D	$	-	$	458,405		-			10.82	%	$	-	$	256,315
	$	1,784,782	$	2,545,808		48.20	%		60.10	%	$	691,885	$	1,426,086