Related Party Transactions

3 Months Ended

Mar. 31, 2021

12. RELATED PARTY TRANSACTIONS

Name of Related Parties		Relationship with the Company
SHENZHEN WISEMAN SMART TECHNOLOGY GROUP CO., LIMITED		A company which is owned 66% by our CEO.

WENZHI WU		The family member of the CEO and the Director of the Company.

WISEMAN CHIPS SMART TECHNOLOGY (SHENZHEN) CO., LIMITED		The director is the company representative of the Company.

XIANGXI WISEMAN INVESTMENT DEVELOPMENT CO., LIMITED		A company which is our CEO is the majority shareholder.

JINPENG LAI		The CEO and the Director of the Company.

	Period Ended March 31, 2021			Year Ended December 31, 2020
Revenue:
-SHENZHEN WISEMAN SMART TECHNOLOGY GROUP CO., LIMITED	$	-		$	380
- WISEMAN CHIPS SMART TECHNOLOGY (SHENZHEN) CO., LIMITED		-			1,780

Cost of revenue:
- SHENZHEN WISEMAN SMART TECHNOLOGY GROUP CO., LIMITED	$	-		$	10,017
- WISEMAN CHIPS SMART TECHNOLOGY (SHENZHEN) CO., LIMITED		-			14,627

Inventories:
- SHENZHEN WISEMAN SMART TECHNOLOGY GROUP CO., LIMITED	$	28,789		$	34,523

Other income (cost):
- SHENZHEN WISEMAN SMART TECHNOLOGY GROUP CO., LIMITED	$	(5,665	)	$	(230,821	)

Prepayments:
-SHENZHEN WISEMAN SMART TECHNOLOGY GROUP CO., LIMITED	$	63,333		$	135,512
- WISEMAN CHIPS SMART TECHNOLOGY (SHENZHEN) CO., LIMITED		7,630			-

Deposits paid and other receivables:
- SHENZHEN WISEMAN SMART TECHNOLOGY GROUP CO., LIMITED	$	1,648		$	1,654

Loan to related parties:
- SHENZHEN WISEMAN SMART TECHNOLOGY GROUP CO., LIMITED	$	66,202		$	22,976
- WISEMAN CHIPS SMART TECHNOLOGY (SHENZHEN) CO., LIMITED		91,565			91,903
- XIANGXI WISEMAN INVESTMENT DEVELOPMENT CO., LIMITED	$	105,300		$	13,786

Amount due to related parties:
- WENZHI WU	$	289		$	290

Other payables and accrued liabilities:
- XIANGXI WISEMAN INVESTMENT DEVELOPMENT CO., LIMITED	$	68,674		$	-

Advance from a director:
- JINPENG LAI	$	55,852		$	53,635

The loan to related parties are unsecured, with interest-bearing of 7% and the repayment terms are 2 months, 8 months, or 1 year.

Wiseman Global Ltd 10-Q