RELATED PARTIES TRANSACTIONS

3 Months Ended

Mar. 31, 2024

Related Party Transactions [Abstract]

RELATED PARTIES TRANSACTIONS

6. RELATED PARTIES TRANSACTIONS

The table below sets forth the related parties and their relationships with the Company as of March 31, 2024 and December 31, 2023:

Name of related parties	Relationship with the Company
Yu Yang (“Mr. Yang”)	Controlling shareholder
Jiaocheng Xinmu Trade Co., Ltd	Controlled by Mr. Yang
Shanxi Qiansui Automobile Trading Co., Ltd	Controlled by Mr. Yang
Taiyuan Tuohang Logistics Co., Ltd	Controlled by Mr. Yang
Shanxi Xiliu Catering Management Co., Ltd	Controlled by Mr. Yang

The related party balances and transactions are as follows:

Amounts due from a related party:

	March 31, 2024		December 31, 2023
Shanxi Xiliu Catering Management Co., Ltd	$	1,666,830	$	1,695,750

Amounts due from Shanxi Xiliu Catering Management Co., Ltd represents business advances for operational purposes. The balance is unsecured, non-interest bearing and repayable on demand.

Amounts due to related parties:

		March 31, 2024		December 31, 2023
Yu Yang	(a)	$	366,902	$	278,303
Jiaocheng Xinmu Trade Co., Ltd	(b)		4,039,449		4,109,535
		$	4,406,351	$	4,387,838

Amounts due to Yu Yang and Jiaocheng Xinmu Trade Co., Ltd represent advances made to the Company for operational purposes. The balances with Yu Yang and Jiaocheng Xinmu Trade Co., Ltd include exchange differences arising from the translation of RMB balances into U.S. dollar at different period-end and year-end exchange rates as of March 31, 2024 and December 31, 2023.

During the three months ended March 31, 2024, there was no movement on the balance with Jiaocheng Xinmu Trade Co., Ltd; whereas Yu Yang had paid the operation and administration expenses on behalf of the Company in an aggregate amount of $88,623.