Loan Payables

9 Months Ended

Mar. 31, 2024

Loan Payables [Abstract]

LOAN PAYABLES

NOTE 10 – LOAN PAYABLES

As of March 31, 2024, the short-term and long-term loan payables consisted of four loans which mature on dates ranging from June 5, 2024 through October 6, 2024 with interest rates ranging from 3.65% to 5.00%. The first loans are collateralized by Tianjuyuan’s land use right and building ownership right.

No.	Payee	Loan period per agreement	Interest Rate			March 31, 2024
1	Beijing Bank -Pinggu Branch	June 5, 2023-June 5, 2024		4.15	%		1,395,000
2	Huaxia Bank -HuaiRou Branch	June 28, 2023-June 28, 2024		3.65	%		1,395,000
3	Pinggu New Village Bank	June 29, 2023-June 28, 2024		5.00	%		976,500
4	Industrial Bank Co. Ltd	August 19, 2022-August 18, 2024		3.98	%		948,600
5	Industrial Bank Co. Ltd	October 7, 2023-October 6, 2024		3.70	%		2,790,000
	Total					$	7,505,100

The interest expense from loans was $216,828 and $216,391 for the nine months ended March 31, 2024 and 2023, respectively.