Quarterly report pursuant to Section 13 or 15(d)

Related party balance and transaction

v3.7.0.1
Related party balance and transaction
6 Months Ended
Jun. 30, 2017
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure [Text Block]
15.
Related party balance and transaction
 
Related party balance
 
The outstanding amounts of Yipeng were as follow:
 
 
 
June 30,
 
December 31,
 
 
 
2017
 
2016
 
 
 
(Unaudited)
 
 
 
 
 
$
 
$
 
Accounts receivable
 
 
2,457,684
 
 
7,125,140
 
Other receivable
 
 
7,641
 
 
392,110
 
Account due from Yipeng
 
 
2,465,325
 
 
7,517,250
 
 
 
 
 
 
 
 
 
Accounts payable (1)
 
 
54,884
 
 
1,516,557
 
Other payable
 
 
7,320
 
 
5,756
 
Amount due to Yipeng
 
 
62,204
 
 
1,522,313
 
 
(1)
Accounts payable represented $nil and $1.3 million technical support fee and $54,884 and $0.2 million equipment rental fee to Yipeng as of June 30, 2017 and December 31, 2016, respectively.
 
Related party transaction
 
The details of the transactions with Yipeng were as follows:
 
 
 
Three months ended June 30, 
 
 
 
Period from May 2,2016 to June 
 
 
 
2017
 
Six months ended June 30, 2017   
 
30,2016
 
 
 
(Unaudited)
 
(Unaudited)
 
(Unaudited)
 
 
 
$
 
$
 
$
 
Income:
 
 
 
 
 
 
 
Sales
 
 
1,422,533
 
 
2,046,856
 
 
1,264,934
 
Rental income
 
 
7,012
 
 
18,311
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
Expenses:
 
 
 
 
 
 
 
 
 
 
Equipment rental fees
 
 
162,927
 
 
325,229
 
 
-