Revenue

6 Months Ended

Jun. 30, 2023

Revenue [Abstract]

REVENUE

NOTE 4 – REVENUE

We are in the business of providing an international cloud-based intelligence system, namely “YCloud” system. We aim to provide technical and auto-billing management system services to micro-business online stores in China through big data analytics, machine learning mechanisms, social network recommendations, and multi-channel data analysis. Weijiafu and Changtongfu are our customers to take charge of the Ycloud users’ profiles. Meanwhile, all YCloud users’ information is retained within YCloud system.

We derive our revenue from system service fees charged for transactions conducted through YCloud. We receive 2%-3.5% of the total Gross Merchandise Volume generated in the platform as a system service fee from YCloud users through service agreement with our customers (such as Weijiafu, Changtongfu, Beijing Yidong, Maitu International and Beijing Youth), depending on the type of service and industry. Gross Merchandise Volume, or GMV, is a term used in online retailing to indicate a total sale monetary-value for merchandise sold through a particular marketplace over a certain time frame. We generally receive the system service fee from customers within the first ten days of each calendar month. As of reporting date, all the service fee receivable has been fully settled and received.

The system services fees are collected from five customers of YCloud system based on the GMV as follows:

Gross Merchandise Volume (“GMV”)	June 30, 2023		June 30, 2022
	US$		US$
Non-related parties:
Customer I		3,755,738		53,496,041
Customer II		4,962,341		20,811,155
Customer III		4,490,593		14,094,841
Customer IV		3,957,649		19,312,009
		17,166,321		107,714,046
Related party:
Customer V		1,106,347		8,732,504
Total GMV:		18,272,668		116,466,550

As of and for the period ended June 30, 2023, we generated revenues from customers amounting $603,343.