XML 54 R45.htm IDEA: XBRL DOCUMENT v3.24.3
Related Party Transactions (Tables)
6 Months Ended
Jun. 30, 2024
Related Party Transactions [Abstract]  
Schedule of Nature of Relationships Nature of relationships with related parties
Name   Relationship with the Company
Wenzhou Ailefu Technology Co. Ltd. (“Ailefu”)   An entity 100% owned by Xiangze
Hangzhou Xiangze Trading Co. Ltd. (“Xiangze”)   An entity 100% owned by Lingyi Kong
Wenzhou Weidi Technology Co. Ltd. (“Weidi”)   An entity 100% owned by Chuanlong Lin’s wife
Shanghai Fushishenye Mechanical and Electrical Equipment Co. Ltd. (“Fushishenye”)   An entity with Lingyi Kong as legal rep
Ruian Xiaobai New Energy Automobile Rental Co. Ltd. (“Xiaobai”)   An entity 30% owned by Shengling Xiang
Chuanlong Lin   Relative of Lingyi Kong; former controlling shareholder of New Focus
Shengling Xiang   Executive and legal rep of the Company
Lingyi Kong   Controlling shareholder of the Company
Chunhua Xiang   Relative of Lingyi Kong
Schedule of Net Outstanding Balances with Related Parties Net outstanding balances with related parties consisted of the following as of June 30, 2024 and December 31, 2023:
Accounts  Name of related parties  June 30,
2024
   December 31,
2023
 
Due to related party  Lingyi Kong   (2,186,790)   (1,877,489)
   Wenzhou Ailefu Technology Co. Ltd.   
-
    (405,640)
Total due to related parties     $(2,186,790)  $(2,283,129)