RELATED PARTY TRANSACTIONS

12 Months Ended

Sep. 30, 2024

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 12 — RELATED PARTY TRANSACTIONS

(a) Due to related parties

	Related party relationship	September 30, 2024		September 30, 2023
Yongwei Hu	Chief Executive Officer and Controlling shareholder of the Company	$	81,089	$	3,392
Wenhu Guo	Senior Management of the Company		11,543		6,168
Jing Liu	Wife of the controlling shareholder		-		18,925
Sheying Wang	Senior Management of the Company		145,634		3,016
Yuantao Wang	49% shareholder of Tianjin YHX		18,105		23,650
Shujie Mou	Senior Management of Tianjin YHX		-		28,229
Shaanxi Meishengyuan Biotechnology Co., Ltd	Mr Hu, the Chief Executive Officer and Controlling shareholder of the Company, is also the majority shareholder and director of this company		43
Total due to related parties		$	256,414	$	77,212

As of September 30, 2024 and 2023, the balance of due to related parties was comprised of the Company’s borrowings from related parties and was used for working capital during the Company’s normal course of business. Such advance was non-interest bearing and due on demand.

(b) Due from related parties

	Related party relationship	September 30, 2024		September 30, 2023
Wenjuan Chen	Senior Management of the Company	$	4,700	$	8,358
Lu Jiang	Employee of the Company		768		53
Jing Liu	Wife of the controlling shareholder		7,709		-
Wenhu Guo	Senior Management of the Company		10,544		-
Shujie Mou	Senior Management of Tianjin YHX		2,953		-
Shaanxi Kangdi Health Technology Co., LTD	25% shareholder of Xi’an Shanfang		6,555		-
Total due from related parties		$	33,228	$	8,411

As of September 30, 2024 and 2023, the balance of due from related parties was mainly comprised of advance to the employees for business purposes.

(c) Loan guarantee provided by related parties

In connection with the Company’s short-term and long-term loans borrowed from PRC banks and other financial institutions, the Company’s controlling shareholder, Mr. Yongwei Hu pledged his proportionate ownership interest in Xi’an App-chem, and his personal bank savings as collateral to safeguard the Company’s borrowings from the banks and financial institutions. Mr. Yongwei Hu and his wife Ms. Jing Liu also jointly pledged their personal residence property to guarantee the Company’s certain loans (see Note 11).

BON NATURAL LIFE LIMITED AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS