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RELATED PARTY BALANCES AND TRANSACTIONS (Tables)
12 Months Ended
Dec. 31, 2021
Related Party Transactions [Abstract]  
SCHEDULE OF RELATED PARTY TRANSACTIONS

 

(1) Related parties with transactions and related party relationships

 

Name of Related Party   Relationship to the Company
Hanwu Yang   Shareholder of the Company
Changbin Xia   Shareholder of the Company
Eternal Horizon International Company Limited   As a shareholder of the Company before December 15,2020
Yanping Guo   Legal representative of Vande
Mishan City Shenmi Dazhong Management Consulting Partnership (“ShenMi DaZhong”)   Shareholder of the Company
Haiyan Qin, Hui Wang and other 11 individuals   Shareholders of ShenMi DaZhong
Shan’xi Nongbei New Agriculture Technology Co.,Ltd and other 8 companies   Associated with shareholders of ShenMi DaZhong
SCHEDULE OF DUE TO RELATED PARTIES

 

(2) Due to related parties

 

  

December 31,

2021

  

December 31,

2020

 
         
Eternal Horizon International Company Limited(1)  $4,999,550   $4,999,550 
Changbin Xia(2)   1,415,492    2,023,420 
Peijiang Chen(2)   27,448    - 
Yanping Guo   239    420 
Hanwu Yang(2)   -    3,974 
Total  $6,442,729   $7,027,364 

 

(1) During IPO, the underwriters purchased 999,910 ordinary shares from a selling shareholder for $4,999,550. The gross proceeds were wired into the Company’s account and was invested in loan receivable together with net proceeds from IPO.

 

(2) The Company borrowed loans as working capital from two shareholders Hanwu Yang and Changbin Xia as well as the legal representative of Vande, and Peijiang Chen as well as the director of Wunong Shenzhen. The balance due to related parties is interest-free and due on demand.