ADVANCES FROM PROSPECTIVE CUSTOMERS DISTRIBUTORS

3 Months Ended

Mar. 31, 2024

ADVANCES FROM PROSPECTIVE CUSTOMERS DISTRIBUTORS

ADVANCES FROM PROSPECTIVE CUSTOMERS/DISTRIBUTORS

NOTE 9 – ADVANCES FROM PROSPECTIVE CUSTOMERS/DISTRIBUTORS

Advances from prospective customers/distributors consists of:

	In RMB				In USD
Source of Advance	March 31, 2024		December 31, 2023		March 31, 2024		December 31, 2023
	(Unaudited)				(Unaudited)
Advancer 1	¥	1,544,748	¥	1,544,748	$	213,984	$	218,185
Advancer 2		550,000		550,000		76,188		77,684
Advancer 3		500,000		500,000		69,262		70,621
Advancer 4		348,000		348,000		48,206		49,153
Advancer 5		50,000		50,000		6,926		7,062
Advancer 6		50,000		50,000		6,926		7,062
Advancer 7		31,012		31,012		4,296		4,380
Advancer 8		31		31		4		4
	¥	3,073,791	¥	3,073,791	$	425,792	$	434,151

The related verbal agreements between Yubo Beijing and the eight advancers provide for the eight advancers to purchase inventory from Yubo Beijing or enter into such other arrangements with Yubo Beijing as the parties mutually agree. Pending formal approval of any such arrangements, all of the eight remaining PRC advancers have the right to request the return of their advances.