Company: MVNC
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001683168-25-008388
Chunk: 81

Company: Marvion Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 81
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 Schedule of related party balances

    As of

    Name
     
    Nature
     
    September 30, 2025

    December 31, 2024

    Chan Sze Yu
     
    Amount due to director
     
    $
    1,500,363

    $
    1,088,838

    Young Chi Kin Eric
     
    Amount due to shareholder

    1,204,156

    826,716

    $
    2,704,519

    $
    1,915,554

As at September 30, 2025
and December 31, 2024, these amounts due to director and shareholder represented the cash advances from these related parties to the Company
for operating purposes. These balances due are unsecured, interest free and repayable on demand.

Related party transactions
consisted of the following:

In the ordinary course of
business, during the periods presented, the Company has involved with transactions, either at cost or current market price and on the
normal commercial terms among related parties. The following table provides the transactions with these parties for the periods as presented
(for the portion of such period that they were considered related):

     29 

For the three months ended
September 30, 2025, there was no related party transaction.

For the nine months ended
September 30, 2025, the Company purchased service of $17,845
from a related company for delivery services.

Apart from the transactions
and balances detailed elsewhere in these accompanying unaudited condensed consolidated financial statements, the Company has no other
significant or material related party transactions during the periods presented.

18.CONCENTRATIONS OF RISKS

The Company is exposed to
the following concentrations of risks:

    (a)
    Major customers

For the three months ended
September 30, 2025 and 2024, the individual customer who accounted for 10% or more of the Company’s revenues and its outstanding
receivable balances at period-end dates, are presented as follows:

    Schedule of concentration of risk 

    Three Months ended September 30,  
    September 30, 2025 
  
    Customer 
    2025  
    2024  
    Accounts receivable 
  
    Customer A 
     57.96%  
     –  
    $329,478 
  
    Customer B 
     17.26