XML 28 R18.htm IDEA: XBRL DOCUMENT v3.25.2
Related Party Transactions
6 Months Ended
Jun. 30, 2025
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 11 — RELATED PARTY TRANSACTIONS

 

Net Revenues — Related Party

 

 

Name of Related Party  Nature  Relationship  Three months
Ended
June 30,
2025
   Three months
Ended
June 30,
2024
 
Haiyan Ma  Revenue from property purchases and sales through Cash Offer  The Company’s shareholder, Chairman of the Board and Chief Executive Officer  $
   $2,016,000 
Haiyan Ma  Real estate service revenue – home renovation service  The Company’s shareholder, Chairman of the Board and Chief Executive Officer   
    53,112 
Na Li  Real estate service revenue – home renovation service  Chief Financial Officer and Director   
    4000 
Two minority shareholders  Real estate service revenue – real estate agency commission  The Company’s shareholder   
    15,550 
Total        $   $2,088,662 

 

For the three months ended June 30, 2024, the Company purchased two properties in cash for $1,969,220 under the Company’s name, and subsequently sold them to Haiyan Ma for $2,016,000.

 

For the three months ended June 30, 2024, the Company provided home renovation services to Haiyan Ma on three home renovation projects, for which the Company earned home renovation service revenue of $53,112 and incurred renovation costs of $43,332.

For the three months ended June 30, 2024, the Company provided home renovation services to Na Li on one home renovation project, for which the Company earned home renovation service revenue of $4,000 and incurred renovation costs of $1,300.

 

For the three months ended June 30, 2024, the Company provided real estate agency services to two minority shareholders, assisting one shareholder in selling the property and the other shareholder in purchasing the property, for which the Company earned real estate agency commission of $15,550 in total.

 

Name of Related Party   Nature   Relationship   Six months
Ended
June 30,
2025
    Six months
Ended
June 30,
2024
 
Haiyan Ma   Revenue from property purchases and sales through Cash Offer   The Company’s shareholder, Chairman of the Board and Chief Executive Officer   $
    $ 2,940,544  
Haiyan Ma   Real estate service revenue – home renovation service   The Company’s shareholder, Chairman of the Board and Chief Executive Officer    
      53,112  
Na Li   Real estate service revenue – real estate agency commission   Chief Financial Officer and Director     97,560      
 
Na Li   Real estate service revenue – home renovation service   Chief Financial Officer and Director    
      4000  
Two minority shareholders   Real estate service revenue – real estate agency commission   The Company’s shareholder    
      15,550  
Total           $ 97,560     $ 3,013,206  

 

For the six months ended June 30, 2025, the Company provided real estate agency services to Na Li, assisting with the sale of a property. The Company earned $126,000 in real estate agency commission from Na Li but paid a referral fee of $28,440 to Haiyan Ma for introducing the buyer, resulting in net revenue of $97,560 recognized on a net basis.

 

For the six months ended June 30, 2024, the Company purchased three properties in cash for $2,884,882 under the Company’s name, and subsequently sold them to Haiyan Ma for $2,940,544.

 

For the six months ended June 30, 2024, the Company provided home renovation services to Haiyan Ma on three home renovation projects, for which the Company earned home renovation service revenue of $53,112 and incurred renovation costs of $43,332.

 

For the six months ended June 30, 2024, the Company provided home renovation services to Na Li on one home renovation project, for which the Company earned home renovation service revenue of $4,000 and incurred renovation costs of $1,300.

 

For the six months ended June 30, 2024, the Company provided real estate agency services to two minority shareholders, assisting one shareholder in selling the property and the other shareholder in purchasing the property, for which the Company earned real estate agency commission of $15,550 in total.

Due to Related Party

 

Name of Related Party  Nature  Relationship  June 30,
2025
   December 31,
2024
 
Zhen Qin  Due on demand, non-interest bearing  The Company’s major shareholder, Chairman of the Board and Chief Executive Officer  $139,347   $55,000 
Total        $139,347   $55,000 

 

On May 1, 2024, Zhen Qin lent $530,000 to the Company to support its operational needs. As of June 30, 2025, the Company had partially repaid the loan to Zhen Qin, leaving an outstanding balance of $139,347. As of December 31, 2024, the Company had repaid $475,000 to Zhen Qin, leaving an outstanding balance of $55,000.