v3.26.1
Related Party Balances and Transactions
 12 Months Ended
Dec. 31, 2025
Related Party Balances and Transactions [Abstract]  
Related party balances and transactions

Note 12 – Related party balances and transactions

 

Related party balances

 

The amount due from related parties consists of the following:

 

RP Name   Relationship   Nature   December 31,
2025		     December 31,
2024		  
Mr. Zhengjun Tao   Chairman and Chief Executive Officer   Advances for operational purpose including drivers wages, operating expenses and other expenses   $ 1,768,310     $  -  
Ms. Shasha Chen   Spouse of Mr. Zhengjun Tao  

Advances for operational purposes including drivers wages, operating expenses and other expenses

     63,410       -  
Total           $ 1,831,720     $ -  

  

The amount due to related parties consists of the following:

 

RP Name   Relationship   Nature   December 31,
2025		     December 31,
2024		  
Ms. Shasha Chen   Spouse of Mr. Zhengjun Tao   Advances for operational purpose     -       94,864  
Mr. Meng Wan   Independent Director   Director emolument     1,600      
-
  
Mr. Yuhan Zhao   Chief Financial Officer and Executive Director   Director emolument     83,600      
-
  
Mr. Mikael Charette   Independent Director   Director emolument     13,500      
-
  
Mr. Bangjie Hu   Independent Director   Director emolument     13,500          
Mr. Lihai Zhang   Senior Employee   Advances for operational purpose     -       54,139  
Ms. Xing Wang   Former Executive Director   Advances for deferred offering costs     -       489,591  
Ms. Xing Wang   Former Executive Director   Advances for operational purpose     421,534       1,007,918  
Total           $ 533,734     $ 1,646,512  

Related party transactions

 

Significant transactions with related parties were as follows:

 

1) Advanced from related parties:

 

RP Name   Relationship   For the
year ended
December 31,
2025		     For the
year ended
December 31,
2024		     For the
year ended
December 31,
2023		  
Ms. Shasha Chen   Spouse of Mr. Zhengjun Tao   $ 7,715,965     $ 4,041,140     $ -  
Mr. Lihai Zhang   Senior Employee     66,426       54,919       -  
Zhejiang Zhoushan Yamei Container Transportation Co., Ltd.   Mr. Zhengjun Tao holding 90% of the company’s shares     9,600       486,829       -  
Mr. Chun Gao   Senior Employee     23,361        -       18,036  
Shenzhen Longanda Environmental Protection Equipment Co., Ltd.   Mr. Chun Gao holds 50% of the shares of the company     -        -       1,652  
Ms. Xing Wang   Executive Director     -        189,460       244,288  
Total       $ 7,815,352     $ 4,772,348       263,976  

 

2) Repayments to related parties:

 

RP Name   Relationship   For the
year ended
December 31,
2025		     For the
year ended
December 31,
2024		     For the
year ended
December 31,
2023		  
Mr. Lihai Zhang   Senior Employee   $ -     $ 130,929     $ 12,757  
Zhejiang Zhoushan Yamei Container Transportation Co., Ltd.   Mr. Zhengjun Tao holding 100% of the company’s shares     -       -       464,368  
Mr. Zhengjun Tao   Chairman and Chief Executive Officer     1,212,265       1,595,893       951,854  
Ms. Laidi Wei   Immediate family member of
Mr. Zhengjun Tao		     -       -       38,960  
Ms. Shasha Chen   Spouse of Mr. Zhengjun Tao     -       -       922,863  
Ms. Xing Wang   Former Executive Director     1,075,975       -       -  
Mr. Chun Gao   Senior Employee     -       64,687       -  
Total       $ 2,288,240     $ 1,791,509     $ 2,390,802  

 

3) Proceeds from disposal of revenue equipment collected by a related party：

 

RP Name   Relationship   For the
year ended
December 31,
2025		     For the
year ended
December 31,
2024		     For the
year ended
December 31,
2023		  
Mr. Zhengjun Tao   Chairman and Chief Executive Officer   $ 5,322     $ 6,232     $ 14,719  
Mr. Lihai Zhang   Senior Employee     20,730       695       16,636  
Mr. Chun Gao   Senior Employee     -       -       1,412  
Total       $ 26,052     $ 6,927     $ 32,767  
4) Proceeds from disposal of subsidiaries collected by a related party:

 

RP Name  Relationship  For the
year ended
December 31,
2025		   For the
year ended
December 31,
2024		   For the
year ended
December 31,
2023		 
Mr. Zhengjun Tao  Chairman and Chief Executive Officer  $1,379,000   $
        -
   $
         -
 
Total     $1,379,000   $
-
   $
-
 

 

5) Purchase of revenue equipment paid by related parties:

 

RP Name  Relationship  For the
year ended
December 31,
2025		   For the
year ended
December 31,
2024		   For the
year ended
December 31,
2023		 
Mr. Zhengjun Tao  Chairman and Chief Executive Officer  $
-
   $123,872   $45,957 
Ms. Shasha Chen  Spouse of Mr. Zhengjun Tao   20,438    
-
    - 
Mr. Lihai Zhang  Senior Employee   
-
    
-
    - 
Total     $20,438   $123,872   $45,957 

 

6) Offset between amount due from related parties and amount due to related parties

 

Amount due from related parties:

 

RP Name  Relationship  For the
year ended
December 31,
2025		   For the
year ended
December 31,
2024		   For the
year ended
December 31,
2023		 
Mr. Lihai Zhang  Senior Employee  $
-
   $199,528   $
-
 
Zhejiang Zhoushan Yamei Container Transportation Co., Ltd.  Mr. Zhengjun Tao holding 100% of the company’s shares   
-
    
-
    472,277 
Mr. Zhengjun Tao  Chairman and Chief Executive Officer   9,600    1,475,399    656,803 
Mr. Chun Gao  Senior Employee   
-
    48,328    
-
 
Total     $9,600   $1,723,255   $1,129,080 

 

Offset by amount due to related parties:

 

RP Name   Relationship   For the
year ended
December 31,
2025		     For the
year ended
December 31,
2024		     For the
year ended
December 31,
2023		  
Zhejiang Zhoushan Yamei Container Transportation Co., Ltd.   Mr. Zhengjun Tao holding 100% of the company’s shares   $ 9,600     $ 494,612     $ -  
Mr. Lihai Zhang   Senior Employee     -       -       847,350  
Ms. Shasha Chen   Spouse of Mr. Zhengjun Tao     -       1,228,643       281,730  
Total         9,600       1,723,255     $ 1,129,080  
7) Borrowings from a related party to pay deferred offering cost

 

RP Name  Relationship  For the
year ended
December 31,
2025		   For the
year ended
December 31,
2024		   For the
year ended
December 31,
2023		 
Ms. Xing Wang  Executive Director  $9,604   $67,368   $109,617 

 

8) Collection from loans to related parties

 

RP Name   Relationship   For the
year ended
December 31,
2025		     For the
year ended
December 31,
2024		     For the
year ended
December 31,
2023		  
Mr. Lihai Zhang   Senior Employee   $       -     $ 862,756     $      -  
Ms. Shasha Chen   Spouse of Mr. Zhengjun Tao     -       1,149,963       -  
Total       $ -     $ 2,012,719     $ -  

 

9) Offset between related parties and prepayment to suppliers

 

RP Name  Relationship  For the
year ended
December 31,
2025		   For the
year ended
December 31,
2024		   For the
year ended
December 31,
2023		 
Mr. Lihai Zhang  Senior Employee  $
-
   $67,904   $
      -
 
Ms. Shasha Chen  Spouse of Mr. Zhengjun Tao   7,832,742    2,716,267    
-
 
Total     $7,832,742   $2,784,171   $
-
 

 

Due to certain creditor-debtor relationships between some suppliers and the company’s related parties, the balances with these suppliers and related parties share the same nature. As a result, the prepayment to these third party suppliers and related parties have been offset.

  

10)Offset between a related party and receipt in advance:

 

RP Name  Relationship  For the
year ended
December 31,
2025		   For the
year ended
December 31,
2024		   For the
year ended
December 31,
2023		 
Mr. Zhengjun Tao  Chairman and Chief Executive Officer  $796,226   $
        -
   $
         -
 
Total     $796,226   $
-
   $
-
 

 

Due to certain creditor-debtor relationships between some customers and the company’s related parties, the balances with these customers and related parties share the same nature. As a result, the receipts in advance from these third party customers and related parties have been offset.

Collateral and Guarantee

 

The collateral and guarantee made by related parties to the Company as of December 31, 2025 consists of the following:

 

Related Parties   Institution Name   Term   Aggregated
Principal		     Carrying
Amount
as of
December 31,
2025		  
Guaranteed by Mr. Zhengjun Tao and Ms. Shasha Chen   Linshang Bank Co., Ltd. Ningbo Beilun Sub-branch   From August 2025 to February 2026   $ 1,143,985     $ 714,990  
Guaranteed by Mr. Zhengjun Tao and Ms. Shasha Chen   Agricultural Bank of China Limited, Ningbo Beilun Branch   From December 2025 to December 2026     714,990       714,990  
Guaranteed by Mr. Zhengjun Tao and Ms. Shasha Chen   China CITIC Bank Corporation Limited, Ningbo Branch   From June 2025 to June 2026     686,391       686,391  
Guaranteed by Mr. Zhengjun Tao and Ms. Shasha Chen   China CITIC Bank Corporation Limited, Ningbo Branch   From July 2025 to July 2026     714,990       714,990  
Guaranteed by Mr. Zhengjun Tao and Ms. Shasha Chen   Huishang Bank Co., LTD. Ningbo Beilun branch   From March 2025 to March 2026     714,991       714,990  
Guaranteed by Mr. Zhengjun Tao and Ms. Shasha Chen   Huishang Bank Co., LTD. Ningbo Beilun branch   From March 2025 to March 2026     714,990       714,990  
Guaranteed by Mr. Zhengjun Tao and Ms. Shasha Chen   Bank of China Ningbo Beilun Branch   From February 2025 to February 2026     714,991       714,990  
Guaranteed by Mr. Zhengjun Tao and Ms. Shasha Chen   Industrial and Commercial Bank of China Limited, Ningbo Beilun Branch   From June 2025 to June 2026     714,991       714,990  
Guaranteed by Mr. Zhengjun Tao and Ms. Shasha Chen   China Construction Bank Ningbo Free Trade Zone Sub-branch   From July 2025 to July 2026     1,000,987       1,000,987  
Guaranteed by Mr. Zhengjun Tao and Ms. Shasha Chen   Industrial Bank Co., Ltd. Ningbo Branch   From October 2025 to October 2028     2,859,962       2,859,962  
Guaranteed by Mr. Zhengjun Tao and Ms. Shasha Chen   Bank of China Limited Zhenhai branch   From January 2025 to January 2026     214,497       214,497  
Guaranteed by Mr. Zhengjun Tao and Ms. Shasha Chen, pledged by real estate owned by Mr. Zhengjun Tao and Ms. Shasha Chen   Bank of China Limited Zhenhai branch   From December 2025 to December 2026     457,594       457,594  
Guaranteed by Zhejiang Haoxin Logistics Co., Ltd., Ms. Shasha Chen and Mr. Zhengjun Tao   Far East Hongxin Inclusive Financial Leasing (Tianjin) Co., Ltd.   From May 2024 to November 2026     157,298       35,104  
Guaranteed by Zhejiang Haoxin Logistics Co., Ltd., Ms. Shasha Chen and Mr. Zhengjun Tao   Far East Hongxin Inclusive Financial Leasing  Co., Ltd.   From Feb 2025 to  Feb 2028     300,296       211,119  
Guaranteed by Zhejiang Haoxin Logistics Co., Ltd., Ms. Shasha Chen and Mr. Zhengjun Tao   Far East Hongxin Inclusive Financial Leasing Co., Ltd.   From Dec 2025 to Dec 2028     428,994       415,918  
            $ 11,539,947     $ 10,886,502  

The collateral and guarantee made by related parties to the Company as of December 31, 2024 consists of the following:

 

Related Parties   Institution Name   Term   Aggregated
Principal		     Carrying
Amount
as of
December 31,
2024		  
Guaranteed by Mr. Zhengjun Tao and Ms. Shasha Chen   Agricultural Bank of China   From December, 2024 to
December, 2025		   $ 684,997     $ 684,997  
Guarantee by Mr. Zhengjun, Tao and Ms. Shasha, Chen   China CITIC Bank Co., LTD. Ningbo branch   From July, 2024 to July, 2025     684,997       684,997  
Guarantee by Mr. Zhengjun, Tao, Ms. Shasha, Chen and Zhejiang Haoxin   Huishang Bank Co., LTD. Ningbo Beilun branch   From September, 2024 to March, 2025     684,997       684,997  
Guarantee by Mr. Zhengjun, Tao and Ms. Shasha, Chen pledges of mortgages of real estate   Bank of China Limited Zhenhai branch   From December, 2024 to December, 2025     438,398       438,399  
Guaranteed by Zhejiang Haoxin Logistics Co., Ltd, Ms. Shasha Chen and Mr. Zhengjun Tao   Zhongli International Leasing Co., Ltd.   From September 2023 to September 2028     218,097       218,097  
Guaranteed by Zhejiang Haoxin Logistics Co., Ltd., Ms. Shasha Chen and Mr. Zhengjun Tao   Far East Hongxin Inclusive Financial Leasing (Tianjin) Co., Ltd.   From November 2023 to April 2026     160,464       160,464  
Guaranteed by Zhejiang Haoxin Logistics Co., Ltd., Ms. Shasha Chen and Mr. Zhengjun Tao   Far East Hongxin Inclusive Financial Leasing (Tianjin) Co., Ltd.   From May 2024 to November 2026     99,146       99,146  
Total           $ 2,971,097     $ 2,971,097