AMOUNT DUE TO RELATED PARTIES

12 Months Ended

Dec. 31, 2023

Amount Due To Related Parties

AMOUNT DUE TO RELATED PARTIES

11. AMOUNT DUE TO RELATED PARTIES

	As of December 31,
	2023		2022
Amount due to related party B	$	354,921	$	215,520
Amount due to related party C		22,712		23,330
Amount due to related party D		520,747		242,630
Amount due to related party E		123,496		124,850
Amount due to related party G		255,358		262,309
Amount due to related party H		-		7,486
Amount due to related party I		-		2,461
Amount due to related party J		1,265,159		772,898
Amount due to related party K		38,044		39,079
Amount due to related party L		20,893		20,893
Amount due to related party M		336,840		345,049
Amount due to related party N		130,326		135,321
Amount due to related party O		115,540		118,684
Amount due to related party P		31,450		32,306
Total	$	3,215,486	$	2,342,816

Related party B is Changsha Boyi Zhicheng Management Consulting Co., Ltd. which is used be 100% owned by Chengfu Tan till April 7, 2023, who is Xiaohao Tan’s father, and is now 100% owns by their legal representative, Mr. Hui Du, but it’s still significant influence by the Company as of the date of this Report. For the years ended December 31, 2023 and 2022, related party B advanced $354,921 and $215,520 to the Company as working capital and to pay administrative expenses, which is unsecured, interest-free with no fixed payment term, for working capital purpose.

Related party C is Ms. Weihong Wan, Assistant and Secretary of Mr. Xiaohao Tan. Ms. Weihong Wan is a shareholder and Legal Company Representative of related party E, related party K and related party O. For the years ended December 31, 2023 and 2022, related party C advanced $22,712 and $23,330 to the Company as working capital and to pay administrative expenses, which is unsecured, interest-free with no fixed payment term, for working capital purpose.

Related party D is Ms. Qianwen Zhang, the wife of Mr. Xiaohao Tan. Ms. Qianwen Zhang is also the Legal Company Representative of related party G, Kuaile Motors Camping Site Investment Development Limited. For the years ended December 31, 2023 and 2022, related party D advanced $520,747 and $242,630 to the Company as working capital, which is unsecured, interest-free with no fixed payment term, for working capital purpose.

Related party E is Changsha Kexibeier E-commerce Limited, its Legal Company Representative is Ms. Weihong Wan. For the years ended December 31, 2023 and 2022, related party E advanced $123,496 and $124,850 to the Company as working capital, which is unsecured, interest-free with no fixed payment term, for working capital purpose.

Related party G is Kuaile Motors Camping Site Investment Development Limited. Mr. Xiaohao Tan and his wife, Ms Qianwen Zhang owns 86.95% and 8% of its equity, respectively. For the years ended December 31, 2023 and 2022, related party G advanced $255,358 and $262,309 to the Company as working capital and to pay administrative expenses, which is unsecured, interest-free with no fixed payment term, for working capital purpose.

Related party H is Hunan Yijiaren Hotel Limited that is ceased on December 13, 2023, it’s owns 90% and 10% by related party J and Ms. Qianwen Zhang, the wife of Mr. Xiaohao Tan, respectively. For the years ended December 31, 2023 and 2022, related party H advanced $0 and $7,486 to the Company as working capital, which is unsecured, interest-free with no fixed payment term, for working capital purpose.

EZAGOO LIMITED

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022

(Currency expressed in United States Dollars (“US$”), except for number of shares)

Related party I is Hunan Bright Lionrock Mountain Resort Limited. It’s owns by related party J and related party G with equity of 80% and 20%, respectively. For the years ended December 31, 2023 and 2022, the Company had rental expenses of $0 and $2,461 that due to related party I, respectively.

Related party J is Beijing Ezagoo Industrial Development Group Holding Limited. Its two main equity owners are related party N, and Mr. Xiaohao Tan with equity of 71.85% and 21.42%, respectively. For the years ended December 31, 2023 and 2022, related party J advanced $1,265,159 and $772,898 to the Company as working capital and to pay administrative expenses, which is unsecured, interest-free with no fixed payment term, for working capital purpose.

Related party K is Ruiyin (Shenzhen) Financial Leasing Limited. Weihong Wan, Assistant and Secretary of Xiaohao Tan, is a Legal Company Representative of related party K. For the years ended December 31, 2023 and 2022, related party K advanced $38,044 and $39,079 to the Company as working capital and to pay administrative expenses, which is unsecured, interest-free with no fixed payment term, for working capital purpose.

Related party L is Ezagoo B&R (HongKong) Industry Development Group Limited, which is 100% owns by Mr. Xiaohao Tan. For the years ended December 31, 2023 and 2022, related party L advanced $20,893 and $20,893 to the Company as working capital and to pay administrative expenses, which is unsecured, interest-free with no fixed payment term, for working capital purpose.

Related party M is Hunan Ezagoo Film Co., Limited, which 85% of its equity is owns by Mr. Xiaohao Tan. As of December 31, 2023 and 2022, the Company has $336,840 and $345,049 previous years’ advertising production cost payable to related party M, which is unsecured, interest-free with no fixed payment term.

Related party N is Hunan Wancheng Xingyi Industrial Development Co., Limited, which is 100% owns by Mr. Xiaohao Tan. As of December 31, 2023 and 2022, related party N advanced $130,326 and $135,321 to the Company as working capital and to pay administrative expenses, which is unsecured, interest-free with no fixed payment term, for working capital purpose.

Related party O is Changsha Little Penguin Culture Communication Co., Limited (formerly known as Hunan Little Penguin Culture Communication Co., Limited), which 95% and 5% of its equity is owns by related party J and Mr. Xiaohao Tan, respectively. As of December 31, 2023 and 2022, related party N advanced $115,540 and $118,684 to the Company as working capital and to pay administrative expenses, which is unsecured, interest-free with no fixed payment term, for working capital purpose.

Related party P is Hunan Yuancheng Shengwang Marketing Co., Limited, which 82% of its equity is owns by Mr. Hui Du, the sole owner of related party B, instead of related party J since November 1, 2023, but it’s still significant influence by the Company as of the date of this Report. As of December 31, 2023 and 2022, related party P advanced $31,450 and $32,306 to the Company as working capital and to pay administrative expenses, which is unsecured, interest-free with no fixed payment term, for working capital purpose.

Disclosure of related parties’ transactions	For the year ended December 31,
	2023		2022
Imputed interest expenses to director	$	-	$	1,222
Imputed interest expenses to related parties		-		85,431
Imputed interest income from related parties		-		(4,070	)
Total imputed interest expenses, net	$	-	$	82,583
Commission income, related parties	$	-	$	9
Cost of revenue, related parties	$	-	$	5,334
Office rental fee	$	24,032	$	2,527

EZAGOO LIMITED

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022

(Currency expressed in United States Dollars (“US$”), except for number of shares)