SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2021

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of owned subsidiary

Name	Background	Ownership
Yubo International Biotech Limited (“Yubo New York”)	· A holding company  · Incorporated in New York
Platinum International Biotech Co. LTD (“Platinum”)	· A Cayman Island company· Incorporated on April 7, 2020 · A holding company	100% owned by Yubo New York
Platinum International Biotech (Hong Kong) Limited. (“Platinum HK”)	· A Hong Kong company· Incorporated on May 4, 2020 · A holding company	100% owned by Platinum
Yubo International Biotech (Chengdu) Limited (“Yubo Chengdu”)	· A PRC company and deemed a wholly foreign owned enterprise· Incorporated on September 4, 2020 · Subscribed capital of $1,500,000· A holding company	100% owned by Platinum HK
Yubo International Biotech (Beijing) Limited (“Yubo Beijing”)	· A PRC limited liability company· Incorporated on June 14, 2016· Subscribed capital of $1,531,722 (RMB 10,000,000) · Stem cell storage and bank	VIE of Yubo Chengdu WFOE
Yubo Jingzhi Biotechnology (ChengDu) Co. Ltd. (“Yubo Jingzhi”)	· A PRC company  incorporated on January 21, 2021	100% owned by Yubo Beijing
Yubo Global Biotechnology (Chengdu) Co. Ltd (“Yubo Global)	· A PRC company incorporated on December 20, 2020	100% owned by Platinum HK

Schedule of assets and liabilities

	June 30, 2021		December 31, 2020
Cash	$	4,751	$	746,613
Receivables		295,292		2,316
Prepaid Expenses		144,993		27,160
Inventory		182,501		67,144
Due from related parties		398,392		429,648
Property and equipment (net)		75,136		79,153
Intangible assets (net)		51,127		54,912
Operating lease right of use assets		137,771		315,207
Lease security deposits		87,708		86,811
Investment in Yubo Jingzhi (A)		232,198		-
Receivables from other consolidating entities (A)		378,754		-
Total assets		1,988,623		1,808,964
Accounts payable and accrued expense		103,220		101,175
Customer deposits		-		11,028
Advances from prospective customers/distributors		699,852		757,896
Due to related partis		151,703		91,951
Operating lease liabilities		137,771		315,207
Payables to other consolidating entities (A)		503,096		-
Total liabilities		1,595,642		1,277,257
Shareholders' equity	$	392,981	$	531,707

Schedule of straight-line basis

Leasehold improvements	Remaining term of lease
Air conditioning equipment	5 years
Office equipment	3 years

Schedule of amortization period by major asset classes

Distribution software	5 years
Patents	20 years