Discontinued Operations

6 Months Ended

Jun. 30, 2025

Discontinued Operations and Disposal Groups [Abstract]

9. Discontinued Operations

On April 28, 2025, the Company, through its subsidiary YCWB Agricultural Technology Co., Limited, disposed of SCQC Agricultural Co., Limited by transferring its 100% equity interests in SCQC to Mr. Zhang Chenjiang for no consideration.

Pursuant to the sale agreement, in addition to acquiring all equity interests of SCQC, Zhang Chenjiang assumed all debts, obligations, and liabilities of SCQC and acquire all rights to its assets.

As a result of the disposal, SCQC ceased to be a subsidiary of the Company. The operating results of SCQC are presented as part of income (loss) from discontinued operations in the Consolidated Statements of Operations for all periods presented. The related assets and liabilities prior to the disposal are classified as discontinued operations in the Consolidated Balance Sheets.

Schedule of Discontinued Operations


Cash and cash equivalents	$	36
Inventories		24,135
Prepayment, deposits and other receivables		75,240
Other payables		(30,686	)
Net Assets of SCQC		68,725
Foreign currency translation income		314
Book amount of long-term equity investment	$	69,039
Fair value of consideration	$	-
Loss on disposition	$	(69,039	)

The following table details the components of income (loss) from discontinued operations:

	2025			2024			2025			2024
	Three months ended June 30,						Six months ended June 30,
	2025			2024			2025			2024
REVENUE	$	-		$	2,539		$	-		$	245,260

COST OF REVENUE		-			(220	)		-			(66,591	)

GROSS PROFIT		-			2,319			-			178,669

OPERATING EXPENSES
Selling and distribution		-			-			-			(2,439	)
General and administrative		(6,763	)		(27,139	)		(13,370	)		(75,358	)

INCOME/(LOSS) FROM OPERATION BEFORE INCOME TAX		(6,763	)		(24,820	)		(13,370	)		100,872

Other income		-			1,379			-			1,379
Interest income		-			13			6			79

INCOME/(LOSS) BEFORE INCOME TAX		(6,763	)		(23,428	)		(13,364	)		102,330
INCOME TAX EXPENSES		-			(8,154	)		-			(8,154	)

NET INCOME/(LOSS)	$	(6,763	)	$	(31,582	)	$	(13,364	)	$	94,176

The following table presents the major classes of assets and liabilities of discontinued operations of SCQC reported in the consolidated balance sheets:

	As of June 30, 2025		As of December 31, 2024
Cash and cash equivalents	$	-	$	29,088
Inventories		-		24,178
Prepayment, deposits and other receivables		-		82,263
Total current assets of discontinued operations	$	-	$	135,529

Other payables and accrued liabilities	$	-	$	4,480
Deferred revenue		-		161
Amount due to related party		-		48,689
Total current liabilities of discontinued operations	$	-	$	53,330

Intelligent Hotel Group Ltd. 10-Q