Company: KPEA
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002124
Chunk: 339

Company: Kun Peng International Ltd.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 8
Chunk 339
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ITEM
13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

Except
for the ownership of our securities, and except as set forth below, none of the directors, executive officers, holders of more than 5%
of our outstanding shares of common stock, or any member of the immediate family of any such person have, to our knowledge, had a material
interest, direct or indirect, in any transaction or proposed transaction which may materially affect our Company.

Policy
for Approval of Related Party Transactions

Our
Board of Directors is charged with reviewing and approving all potential related party transactions. All such related party transactions
must then be reported under applicable SEC rules. We have not adopted other procedures for review, or standards for approval, of such
transactions, but instead review them on a case-by-case basis.

Acquisition of Kun
Pin Hui (Shandong) Trading Co. Ltd.

On April 3, 2024, KP (Tianjin) entered
into a Share Transfer Agreement (the “Share Purchase Agreement”) with Zhandong Fan and Yuanyuan Zhang for the acquisition
of all the subscribed shares of Kun Pin Hui (Shandong) Trading Co. Ltd.

Pursuant to the Share Purchase Agreement, KP (Tianjin) has agreed to acquire all
the entire subscribed capital of $0.4 million (RMB 3 million) for an aggregate consideration of $0.28 (RMB 2Yuan). Zhandong Fan (previously
holding 95% shares of Kun Pin Hui (shandong)) and Yuanyuan Zhang (previously holding 5% shares of Kun pin Hui (Shandong)) , both the shareholders
of KP (Tianjin), transferred their shares at the consideration of $0.14 (RMB 1Yuan)

The acquisition closed on April 7, 2024. As of the year ended September 30, 2024, KP (Tianjin) has paid $3,698 (RMB27,000) of the registered
capital.

Amount
due from  related parties

Amount
due from related parties mainly represented the advanced to officers or employees for daily operating. It is anticipated to be
incurred by our officers and employees on behalf of the Company. It is required to be repaid in cash within a year. Amounts due from
related parties consisted of the following:

    September 30, 
  
    Name of related party