Form 10-Q - Quarterly report [Sections 13 or 15(d)]

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended: June 30, 2023

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ____________ to _____________

WETRADE GROUP INC

(Exact name of small business issuer as specified in its charter)

Wyoming

(State or other jurisdiction of

incorporation or organization)

(I.R.S. Tax. I.D. No.)

No 1 Gaobei South Coast, Yi An Men 111 Block 37, Chao Yang District,

Beijing City, People Republic of China

(Address of Principal Executive Offices)

(86) 13795206876

(Registrant’s Telephone Number, Including Area Code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See definition of “large accelerated filer,” accelerated filer” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act:

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated Filer	☐	Smaller Reporting Company	☒
Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of August 21, 2023, there were 1,054,530 shares of common stock outstanding.

TABLE OF CONTENTS

Cautionary Note Regarding Forward-Looking Statements		ii

PART I - Financial Information

Item 1.	Financial Statements	1
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	21
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	25
Item 4.	Controls and Procedures	25

PART II – Other Information

Item 1.	Legal Proceedings	26
Item 1A.	Risk Factors	26
Item 2.	Unregistered Sales of Equity Securities And Use Of Proceeds	26
Item 3.	Defaults Upon Senior Securities	26
Item 4.	Mine Safety Disclosures	26
Item 5.	Other information	26
Item 6.	Exhibits	26

Signatures		27

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended, (the “Exchange Act”). These forward-looking statements are generally located in the material set forth under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations” but may be found in other locations as well. These forward-looking statements are subject to risks and uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statements. You should not unduly rely on these statements.

We identify forward-looking statements by use of terms such as “may,” “will,” “expect,” “anticipate,” “estimate,” “hope,” “plan,” “believe,” “predict,” “envision,” “intend,” “will,” “continue,” “potential,” “should,” “confident,” “could” and similar words and expressions, although some forward-looking statements may be expressed differently. You should be aware that our actual results could differ materially from those contained in the forward-looking statements.

Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this report. These factors include, among others:

	●	our ability to execute on our growth strategies;

	●	our ability to find manufacturing partners on favorable terms;

	●	declines in general economic conditions in the markets where we may compete;

	●	our anticipated needs for working capital; and

Where we express an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis.

Forward-looking statements speak only as of the date of this report or the date of any document incorporated by reference in this report. Except to the extent required by applicable law or regulation, we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date of this report or to reflect the occurrence of unanticipated events.

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements

WETRADE GROUP INC

CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

(All amounts shown in U.S. Dollars)	As of June 30, 2023			As of December 31, 2022

ASSETS
Current assets:
Cash and cash equivalents	$	20,004,914		$	20,025,480
Accounts receivable- non related parties, net		-			6,174,055
Accounts receivable- related parties, net		-			549,606
Loan receivables		7,220,242			1,614,841
Other receivables		59,180			47,941
Prepayments		2,479,485			2,413,215
Prepayments- related parties		977,500			1,914,516
Assets related to discontinued operation		-			1,475,491
Total current assets		30,741,321			34,215,145
Non-current assets:
Prepayments		10,000,000			10,000,000
Amortised expenses, net		694,194			828,983
Property and equipment, net		739,028			921,952
Intangible asset, net		18,449			22,959
Other receivables		228,104			240,202
Total non-current assets		11,679,775			12,014,096
Total assets:		42,421,096		$	46,229,241

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Account payables		134,825			143,917
Account payables- related parties		78,273			86,956
Accrued expenses		262,256			298,595
Amount due to related parties		2,273,503			1,291,296
Other payables		792,674			2,455,905
Liabilities related to discontinued operation		-			233,062
Total current liabilities		3,541,531			4,509,731
Total liabilities		3,541,531			4,509,731

Stockholders’ equity:
Common stock; no par value; 1,054,530 and 195,057,503 issued and outstanding at June 30, 2023 and December 31, 2022 respectively		-			-
Additional paid in capital		43,732,196			43,732,196
Accumulated other comprehensive income		(935,527	)		(298,576	)
Accumulated deficits		(3,917,104	)		(1,714,110	)
Total stockholders’ equity		38,879,565			41,719,510

Total liabilities and stockholders’ equity	$	42,421,096		$	46,229,241

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

WETRADE GROUP INC

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)

	For the Three Months Ended June 30, 2023			For the Three Months Ended June 30, 2022			For the Six Months Ended June 30, 2023			For the Six Months Ended June 30, 2022
Revenue:
Service revenue, related party	$	-		$	129,819		$	36,530		$	288,337
Service revenue		-			1,321,640			566,813			3,302,074
Total service revenue		-			1,451,459			603,343			3,590,411
Cost of revenue		(94,582	)		(95,949	)		(1,005,089	)		(768,587	)
Gross (Loss)/Profit		(94,582	)		1,355,510			(401,746	)		2,821,824

Operating expenses
General and administrative expense	$	822,220		$	1,827,438		$	1,501,985		$	2,619,894
Total operating expenses		(822,220	)		(1,827,438	)		(1,501,985	)		(2,619,894	)

(Loss)/ Profit from operations		(916,802	)		(471,928	)		(1,903,731	)		201,930
Other income		1,008,391			24,658			1,010,480			72,941
Other expenses		(33,267	)		-			(33,267	)		-
Profit/ (loss) before income taxes		58,322			(447,270	)		(926,518	)		274,871
Income tax expenses		(32,243	)		(4,869	)		(32,243	)		(134,694	)

Net Income/(Loss) from continuing operation	$	26,079		$	(452,139	)	$	(958,761	)	$	140,177

Discontinued Operations:
Loss from discontinued operation		-			(167,954	)		(1,240,305	)		(1,482,138	)

Comprehensive income
Net Income/(Loss)	$	26,079		$	(620,093	)	$	(2,199,066	)	$	(1,341,961	)
Other comprehensive income
Foreign currency translation adjustment		(663,272	)		(745,699	)		(636,951	)		(711,109	)

Total comprehensive loss	$	(637,193	)		(1,365,792	)		(2,836,017	)	$	(2,053,070	)

Loss per share, basic and diluted	$	(0.00	)	$	(0.00	)		(0.00	)	$	(0.00	)

*Weighted-average shares outstanding, basic and diluted		149,770,976			155,826,842			172,526,771			231,052,498

Share and per share amounts have been retroactively adjusted to reflect the decreased number of shares resulting from a reverse stock split and issuance of new shares.

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

WETRADE GROUP INC

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY

(UNAUDITED)

Three months ended June 30, 2023

	Common Stock					Additional Paid in		Accumulated			Accumulated Other Comprehensive			Total Shareholder
	Shares			Amount		Capital		Deficits			Income			Equity
Balance as of March 31, 2023		195,057,503		$	-	$	43,732,196	$	(3,943,183	)	$	(272,255	)	$	39,516,758
Reverse shares split		(194,002,973	)		-		-		-			-			-
Foreign currency translation adjustment		-			-		-		-			(663,272	)		(663,272	)
Net profit for the period		-			-		-	$	26,079			-		$	26,079
Balance as of June 30, 2023		1,054,530		$	-	$	43,732,196	$	(3,917,104	)		(935,527	)	$	38,879,565

Six months ended June 30, 2023

	Common Stock					Additional Paid in		Accumulated			Accumulated Other Comprehensive			Total Shareholder
	Shares			Amount		Capital		Deficits			Income			Equity
Balance as of December 31, 2022		195,057,503		$	-	$	43,732,196	$	(1,714,110	)	$	(298,576	)	$	41,719,510
Reverse shares split		(194,002,973	)		-		-		-			-			-
Foreign currency translation adjustment		-			-		-		-			(636,951	)		(636,951	)
Disposition of discontinued operations		-			-		-		(1,240,305	)		-			(1,240,305	)
Net loss from discontinued operation		-			-		-		(3,928	)		-			(3,928	)
Net loss for the period		-			-		-	$	(958,761	)		-		$	(958,761	)
Balance as of June 30, 2023		1,054,530		$	-	$	43,732,196	$	(3,917,104	)		(935,527	)	$	38,879,565

Three months ended June 30, 2022

	Common Stock					Additional Paid in		Retained			Accumulated Other Comprehensive			Total Shareholder
	Shares			Amount		Capital		Earnings			Income			Equity
Balance as of March 31, 2022		305,451,498		$	-	$	6,197.520	$	6,689,479		$	933,087		$	13,820,086
Share cancellation		(120,418,995	)		-		-		-			-			-
Foreign currency translation adjustment		-			-		-		-			(745,699	)		(745,699	)
Disposition of discontinued operation		-			-		-		(167,954	)		-			(167,954	)
Net profit for the period		-			-		-	$	(452,139	)		-		$	(452,139	)
Balance as of June 30, 2022		185,032,503		$	-	$	6,197,520	$	6,069,386			187,388		$	12,454,294

Six months ended June 30, 2022

	Common Stock					Additional Paid in		Retained			Accumulated Other Comprehensive			Total Shareholder
	Shares			Amount		Capital		Earnings			Income			Equity
Balance as of December 31, 2021		305,451,498		$	-	$	6,197,520	$	7,433,305		$	898,497		$	14,529,322
Share cancellation		(120,418,995	)		-		-		-			-			-
Foreign currency translation adjustment		-			-		-		-			(711,109	)		(711,109	)
Disposition of discontinued operations		-			-		-		(1,482,138	)		-			(1,504,096	)
Net loss from discontinued operations									(21,958	)
Net profit for the period		-			-		-	$	140,177			-		$	140,177
Balance as of June 30, 2022		185,032,503		$	-	$	6,197,520	$	6,069,386			187,388		$	12,454,294

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

WETRADE GROUP INC

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

	For the Six months Ended			For the Six months Ended
	June 30, 2023			June 30, 2022

Cash flows from operating activities:
Net (Loss)/ income	$	(958,761	)	$	140,177
Loss from discontinued operation		(3,928	)		(21,958	)
Loss from dissolved operation		(1,236,377	)		(1,460,180	)
Amortization of intangible asset		4,510			3,155
Depreciation		317,713			24,952

Changes in operating assets and liabilities:
Accounts receivables		6,174,055			4,969,602
Account receivable- related parties		549,606			3,177,767
Other receivables		859			(99,609	)
Prepaid expenses		(66,270	)		(1,831,269	)
Prepaid expenses- related parties		937,016			222,783
Account payables		(9,092	)		(23,141	)
Account payable- related parties		(8,683	)		157,281	)
Accrued expenses		(36,338	)		(130,440	)
Right of use assets		-			285,100
Lease liabilities		-			(311,320	)
Tax payables		(173,267	)		118,459
Other payables		(1,491,769	)		122,696
Assets related to discontinued operations		1,240,305			-
Net cash flows provided by operating activities:		5,239,579			5,344,055

Cash flow from investing activities:
Loan receivables		(5,605,401	)		611,715
Amortised expenses		-			(648,389	)
Net cash used in investing activities:		(5,605,401	)		(36,674	)

Cash flow from financing activities:
Shareholders loan		982,207			230,832
Net cash flows provided by financing activities:		982,207			230,832

Effect of exchange rate changes on cash		(636,951	)		(150,042	)

Change in cash and cash equivalents:		(20,566	)		5,388,171

Cash and cash equivalents, beginning of period	$	20,025,480		$	616,594

Cash and cash equivalents, end of period	$	20,004,914		$	6,004,765

Supplemental cash flow information:
Cash paid for interest	$	-		$	-
Cash paid for taxes	$	-		$	-

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

WETRADE GROUP INC

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

NOTE 1 – NATURE OF BUSINESS

Organization

WeTrade Group, Inc was incorporated in the State of Wyoming on March 28, 2019 and is in the business of providing technical services and solutions via its social e-commerce platform. We are committed to providing an international cloud-based intelligence system and independently developed a micro-business cloud intelligence system called the “YCloud.” Our goal is to provide technical and auto-billing management services to micro-business online stores in China through big data analytics, machine learning mechanisms, social network recommendations, and multi-channel data analysis.

We provide technology services to both individual and corporate users. We provide access to “YCloud” to our two customers, Zhuozhou Weijiafu Information Technology Limited (“Weijiafu”), a PRC technology company, and Changtongfu Technology (Hainan) Co Limited (“Changtongfu”), a PRC technology company. Weijiafu provides “YCloud” services to individual and corporate micro-business owners. Changtongfu provides “YCloud” services to individual and corporate business owners in the hotel and travel industries.

The market of individual micro-business owners represents a potential of 330 million users by the end of year of 2023. YCloud serves corporate users in multiple industries, including Yuetao Group, Zhiding, Lvyue, Yuebei, Yuedian, Coke GO, and Zhongyanshangyue. We conduct business operations in mainland China and have established trial operations in Hong Kong. We expect to utilize the YCloud system to establish a global strategic cooperation with various social media platforms.

The main functions of the YCloud system include assisting users in managing its marketing relationships, CPS commission profit management, multi-channel data statistics, AI fission and management, and improving supply chain systems.

Currently, YCloud serves the micro business industries such as tourism, hospitality, livestreaming and short video, medical beauty and traditional retail industries.

Our Business

We have utilized digitalization, electronic management, electronic data exchange, big data analysis, AI fission technology, revenue management and other technologies to build a strong coordination effect. We believe that our cloud technology enables us to develop a highly functional platform for micro-business users in China. In developing YCloud, we have optimized our products using the tools and platforms best suited to serve our customers.

We believe that YCloud is the first global micro-business cloud intelligent internationalization system. It conducts multi-channel data analysis through the learning of big data and social recommendation. It also provides users with AI fission, management systems and supply chain systems to reach a wider range of user groups. YCloud has the following four main functions and competitive advantages:

Multiple integrated payment methods and payment analytics: the YCloud system provides micro-businesses and hotel owners with multiple payment methods such as Alipay, WeChat, and UnionPay. The total order amount is directly entered into the platform to collect funds in separate accounts. Meanwhile, YCloud assigns a bar code to merchandises that purchasers can scan to pay, which allows purchasers to make payments both online and offline.

	●	Single-scenario payment function: although micro-business owners are provided with a multi-method payment function for their consumers through the YCloud system, micro-business owners only have a single sales channel to display. The revenue of each sale is divided by commissions, and the cost is allocated to suppliers and the handling fee to the YCloud system. The remaining balance goes to micro-business owners.

	●	Multi-scenario payment function: micro-business owners have multiple sales channels to display and numerous channels to perform revenue sharing and profit consolidation functions. After various products are sold through different channels, the cost are allocated to suppliers and the handling fee are allocated to the YCloud system. The remaining balance will be combined and goes to micro-business owners.

During the year 2020, due to the impact of the COVID-19 outbreak, many companies, including businesses traditionally operating offline, from a wide range of industries, such as tourism, catering, entertainment or retail, have opted for a micro-business model to build sales channels through online social platforms and expand business opportunities. As a result of the COVID-19 outbreak, consumer demand shifted, forcing business owners to expand to new markets and be present on multiple social platforms. Through continuous research on the micro-business industry, combined with understanding of social relationships on social platforms, YCloud develops new technology designed to meet the ever changing demand of micro-business owners across all industries.

Team management: the YCloud system utilizes user marketing relationship tracking and CPS commission revenue management tools.

AI fission and management: using intelligent robots to analyze user behavior, data sharing, purchase history, and other data, YCloud system provides tailored recommendations and displays. For example, YCloud system connects users’ behavior across multiple apps and platforms and makes automatic recommendations based on its analysis.

Supply chain system integration: the YCloud system applies cross-platform resource integration technology. The integration allows the multi-channel output of high-quality products and creates a seamless connection between suppliers and customers. The YCloud provides a complete supply chain system integrating supply, sales, finance, and service.

The following diagram sets forth the structure of the Company as of the date of this Quarterly Report:

Our business and corporate address in the United States is 1621 Central Ave, Cheyenne, WY 82001. Our telephone number is +86-13795206876 and our registered agent for service of process is Wyoming Registered Agent, 1621 Central Ave, Cheyenne, WY 82001. Our fiscal year end is December 31. Our Chinese business and corporate address is No. 18, Kechuang 10th Street, Beijing Economic and Technological Development Zone, Beijing, People Republic of China. The Chinese address is where our management is located.

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Preparation of Financial Statements

The condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”). The condensed consolidated financial statements include the financial statements of the Company and its subsidiaries. All significant inter-company transactions and balances have been eliminated in consolidation.

The condensed consolidated financial statements of the Company as of and for the three months ended June 30, 2023 and 2022 are unaudited. In the opinion of management, all adjustments (including normal recurring adjustments) that have been made are necessary to fairly present the financial position of the Company as of June 30, 2023, the results of its operations for the three months ended June 30, 2023 and 2022, and its cash flows for the three months ended June 30, 2023 and 2022. Operating results for the quarterly periods presented are not necessarily indicative of the results to be expected for a full fiscal year.

The statements and related notes have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to such rules and regulations. These financial statements should be read in conjunction with the financial statements and other information included in the Company’s Annual Report on Form 10-K as filed with the SEC for the fiscal year ended December 31, 2022.

As of June 30, 2023, the details of the consolidating subsidiaries are as follows:

	Place of	*Attributable* *equity*
Name of Company	incorporation	interest %
Utour Pte Ltd	Singapore		100	%
WeTrade Information Technology Limited (“WITL”)	Hong Kong		100	%
Yueshang Information Technology (Beijing) Co., Ltd. (“YITB”)	P.R.C.		100	%
WeTrade Digital Technology (Beijing) Co Limited	P.R.C		100	%
Yueshang Technology Group (Zhuhai Hengqin) Limited	P.R.C		100	%
Tibet Xiaoshang Technology Co Limited (“Tibet Xiaoshang”)	P.R.C		100	%
Shanghai Yueshang Information Technology Limited	P.R.C		100	%

Nature of Operations

WeTrade Group Inc. (the “Company” or “We’ or “Us”) is a Wyoming corporation incorporated on March 28, 2019. The Company is an investment holding company that formed as a Wyoming corporation to use as a vehicle for raising equity outside the US.

As of June 30, 2023, the nature operation of its subsidiaries are as follows:

*Name of Company*	*Place* *of incorporation*	*Nature of operation*
Utour Pte Ltd	Singapore	Investment holding company
WeTrade Information Technology Limited (“WITL”)	Hong Kong	Investment holding company
Yueshang Information Technology (Beijing) Co., Ltd. (“YITB”)	P.R.C.	Providing of social e-commerce services, technical system support and services
WeTrade Digital Technology (“Beijing”) Co Limited	P.R.C	Providing of social e-commerce services, technical system support and services
Yueshang Technology Group (Zhuhai Hengqin) Limited	P.R.C	Providing of social e-commerce services, technical system support and services
Tibet Xiaoshang Technology Co Limited (“Tibet Xiaoshang”)	P.R.C	Providing of social e-commerce services, technical system support and services.
Shanghai Yueshang Information Technology Limited	P.R.C	Providing of social e-commerce services, technical system support and services.

Revenue recognition

The Company follows the guidance of Accounting Standards Codification (ASC) 606, Revenue from Contracts. ASC 606 creates a five-step model that requires entities to exercise judgment when considering the terms of contracts, which includes (1) identifying the contracts or agreements with a customer, (2) identifying our performance obligations in the contract or agreement, (3) determining the transaction price, (4) allocating the transaction price to the separate performance obligations, and (5) recognizing revenue as each performance obligation is satisfied. The Company only applies the five-step model to contracts when it is probable that the Company will collect the consideration it is entitled to in exchange for the services it transfers to its clients.

Cash and Cash Equivalents

The Company considers all highly liquid debt instruments purchased with a maturity period of three months or less to be cash or cash equivalents. The carrying amounts reported in the accompanying unaudited condensed consolidated balance sheets for cash and cash equivalents approximate their fair value. All of the Company’s cash that is held in bank accounts in Singapore, Hong Kong and PRC are not protected by Federal Deposit Insurance Corporation (“FDIC”) insurance.

Foreign Currency

The Company’s principal country of operations is the PRC. The accompanying condensed consolidated financial statements are presented in US$. The functional currency of the Company is US$, and the functional currency of the Company’s subsidiaries is RMB. The condensed consolidated financial statements are translated into US$ from RMB at year-end exchange rates as to assets and liabilities and average exchange rates as to revenues and expenses. Capital accounts are translated at their historical exchange rates when the capital transactions occurred. The resulting translation adjustments are recorded as a component of shareholders’ equity included in other comprehensive income. Gains and losses from foreign currency transactions are included in profit or loss. There were no gains and losses from foreign currency transactions from the inception to June 30, 2023.

		June 30, 2023				December 31, 2022
RMB: US$ exchange rate			7.25				6.90

The balance sheet amounts, with the exception of equity, June 30, 2023 and December 31, 2022 were translated at 7.25 RMB and 6.9 RMB to US$1.00, respectively. The equity accounts were stated at their historical rates. The average translation rates applied to statements of operations and comprehensive income accounts for the period ended June 30, 2023 and year ended December 31, 2022 were 6.97 RMB and 6.75 RMB to US$1.00, respectively. Cash flows were also translated at average translation rates for the year and, therefore, amounts reported on the statement of cash flows would not necessarily agree with changes in the corresponding balances on the condensed consolidated balance sheet. The transactions dominated in SGD are immaterial.

Consolidation

The Company’s condensed consolidated financial statements include the financial statements of the Group and subsidiaries. All transactions and balances among the Group and its subsidiaries have been eliminated upon consolidation.

Use of Estimates

The preparation of financial statements in conformity with US GAAP requires management to make judgement estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Management believes that the estimates used in preparing the financial statements are reasonable and prudent; however, actual results could differ from these estimates. Significant accounting estimates include the allowance for doubtful accounts, useful lives of intangible asset, valuation of deferred tax assets, and certain accrued liabilities such as contingent liabilities.

Property and Equipment, Net

Property and equipment are stated at the historical cost less accumulated depreciation. Depreciation on property and equipment is provided using the straight-line method over the estimated useful lives of the assets for both financial and income tax reporting purposes as follows:

Office equipment		3 years
Leasehold improvements		5 years

Upon sale or disposal of an asset, the historical cost and related accumulated depreciation or amortization of such asset were removed from their respective accounts and any gain or loss is recorded in the statements of income.

The Company reviews the carrying value of property and equipment for impairment whenever events and circumstances indicate that the carrying value of an asset may not be recoverable from the estimated future cash flows expected to result from its use and eventual disposition. In cases where undiscounted expected future cash flows are less than the carrying value, an impairment loss is recognized equal to an amount by which the carrying value exceeds the fair value of assets. The factors considered by management in performing this assessment include current operating results, trends and prospects, the manner in which the property is used, and the effects of obsolescence, demand, competition and other economic factors. Based on this assessment, no impairment expenses for property and equipment were recorded in operating expenses during the six months ended June 30, 2023 and 2022.

Concentration of Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and equivalents and accounts receivable. Cash on hand amounted to $20,004,914 and accounts receivable is $nil as of June 30, 2023.

Accounts Receivable

Accounts receivables are presented net of allowance for doubtful accounts. The Company uses specific identification in providing for bad debts when facts and circumstances indicate that collection is doubtful and based on factors listed in the following paragraph. If the financial conditions of its customers were to deteriorate, resulting in an impairment of their ability to make payments, additional allowance may be required.

The Company maintains an allowance for doubtful accounts which reflects its best estimate of amounts that potentially will not be collected. The Company determines the allowance for doubtful accounts on general basis taking into consideration various factors including but not limited to historical collection experience and credit-worthiness of the customers as well as the age of the individual receivables balance. Additionally, the Company makes specific bad debt provisions based on any specific knowledge the Company has acquired that might indicate that an account is uncollectible. The facts and circumstances of each account may require the Company to use substantial judgment in assessing its collectability.

Intangible Asset, Net

Intangible asset is software development cost incurred by the Company and it will be amortized on a straight line basis over the estimated useful life of 5 years.

Leases

The Company adopted Accounting Standards Update No. 2016-02, Leases (Topic 842) (ASU 2016-02), and generally requires lessees to recognize operating and financing lease liabilities and corresponding right-of-use (ROU) assets on the balance sheet and to provide enhanced disclosures surrounding the amount, timing and uncertainty of cash flows arising from leasing arrangements.

Operating leases are included in operating lease right-of-use (“ROU”) assets and short-term and long-term lease liabilities in our condensed consolidated balance sheets. Finance leases are included in property and equipment, other current liabilities, and other long-term liabilities in our condensed consolidated balance sheets.

ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of the leases do not provide an implicit rate, we use the industry incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. We use the implicit rate when readily determinable. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. The lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term.

ASU 2016-02 requires that public companies use a secured incremental browning rate for the present value of lease payments when the rate implicit in the contract is not readily determinable. We determine a secured rate on a quarterly basis and update the weighted average discount rate accordingly.

Software Development Costs

We apply ASC 985-20, Software—Costs of Software to Be Sold, Leased, or Marketed, in analyzing our software development costs. ASC 985-20 requires the capitalization of certain software development costs subsequent to the establishment of technological feasibility for a software product in development. Research and development costs associated with establishing technological feasibility are expensed as incurred. Based on our software development process, technological feasibility is established upon the completion of a working model. In addition, we apply this to our review of development projects related to software used exclusively for our SaaS subscription offerings. In these reviews, all costs incurred during the preliminary project stages are expensed as incurred. Once the projects have been committed to and it is probable that the projects will meet functional requirements, costs are capitalized.

Income Tax

Income taxes are determined in accordance with the provisions of ASC Topic 740, “Income Taxes” (“ASC Topic 740”). Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the periods in which those temporary differences are expected to be recovered or settled. Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts.

The Company has subsidiaries in Singapore and PRC. The Company is subject to tax in Singapore and PRC jurisdictions. As a result of its future business activities, the Company will be required to file tax returns that are subject to examination by the Inland Revenue Authority of Singapore and Tax Department of PRC.

Loss Per Share

Basic net income per share of common stock attributable to common stockholders is calculated by dividing net income attributable to common stockholders by the weighted-average shares of common stock outstanding for the period. Potentially dilutive shares, which are based on the weighted-average shares of common stock underlying outstanding stock-based awards, warrants, options, or convertible debt using the treasury stock method or the if-converted method, as applicable, are included when calculating diluted net income (loss) per share of common stock attributable to common stockholders when their effect is dilutive.

Potential dilutive securities are excluded from the calculation of diluted EPS in profit periods as their effect would be anti-dilutive.

As of June 30, 2023, there were no potentially dilutive shares.

	For the period June 30, 2023			For the period June 30, 2022
Statement of Operations Summary Information:
Net (Loss)/ Profit	$	(958,761	)	$	140,177
Weighted-average common shares outstanding - basic and diluted		172,526,771			231,052,498
Net (Loss)/ Profit per share, basic and diluted	$	(0.00	)	$	0.00

Fair Value Measurements

The Company follows guidance for accounting for fair value measurements of financial assets and financial liabilities and for fair value measurements of nonfinancial items that are recognized or disclosed at fair value in the financial statements on a recurring basis. Additionally, the Company adopted guidance for fair value measurement related to non-financial items that are recognized and disclosed at fair value in the financial statements on a non-recurring basis. The guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value.

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows:

Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3 inputs are unobservable inputs for the asset or liability. The carrying amounts of financial assets such as cash approximate their fair values because of the short maturity of these instruments.

NOTE 3 – RECENT ACCOUNTING PRONOUNCEMENTS

Recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force) and the United States Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company’s present or future financial statements.

NOTE 4 – REVENUE

We are in the business of providing an international cloud-based intelligence system, namely “YCloud” system. We aim to provide technical and auto-billing management system services to micro-business online stores in China through big data analytics, machine learning mechanisms, social network recommendations, and multi-channel data analysis. Weijiafu and Changtongfu are our customers to take charge of the Ycloud users’ profiles. Meanwhile, all YCloud users’ information is retained within YCloud system.

We derive our revenue from system service fees charged for transactions conducted through YCloud. We receive 2%-3.5% of the total Gross Merchandise Volume generated in the platform as a system service fee from YCloud users through service agreement with our customers (such as Weijiafu, Changtongfu, Beijing Yidong, Maitu International and Beijing Youth), depending on the type of service and industry. Gross Merchandise Volume, or GMV, is a term used in online retailing to indicate a total sale monetary-value for merchandise sold through a particular marketplace over a certain time frame. We generally receive the system service fee from customers within the first ten days of each calendar month. As of reporting date, all the service fee receivable has been fully settled and received.

The system services fees are collected from five customers of YCloud system based on the GMV as follows:

Gross Merchandise Volume (“GMV”)	June 30, 2023		June 30, 2022
	US$		US$
Non-related parties:
Customer I		3,755,738		53,496,041
Customer II		4,962,341		20,811,155
Customer III		4,490,593		14,094,841
Customer IV		3,957,649		19,312,009
		17,166,321		107,714,046
Related party:
Customer V		1,106,347		8,732,504
Total GMV:		18,272,668		116,466,550

As of and for the period ended June 30, 2023, we generated revenues from customers amounting $603,343.

NOTE 5 – CASH AND CASH EQUIVALENTS

As of June 30, 2023, the Company held cash in bank in the amount of $20,004,914, which consist of the following:

	June 30, 2023		December 31, 2022
Bank Deposits-USA	$	3,250		22,926
Bank Deposits- Outside USA		20,001,664		20,002,554
		20,004,914		20,025,480

NOTE 6 – INTANGIBLE ASSET, NET

Intangible asset is software development cost incurred by Company, it will be amortized on a straight line basis over the estimated useful life of 5 years as follow:

	June 30, 2023
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Useful Life (Years)
Intangible assets:
Software development	$	57,143	$	(41,086	)	$	16,057		5
Foreign currency translation adjustment		-		-			2,392
Intangible assets, net	$	57,143	$	(41,086	)	$	18,449

	December 31, 2022
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Useful Life (Years)
Intangible assets:
Software development	$	57,143	$	(36,576	)	$	20,567		5
Foreign currency translation adjustment		-		-			2,392
Intangible assets, net	$	57,143	$	(36,576	)	$	22,959

Amortization expense for intangible assets was $4,510 for the six months period ended June 30, 2023.

Expected future intangible asset amortization as of June 30, 2023 was as follows:

Fiscal years:
Remaining 2023	$	2,871
2024		15,578

NOTE 7 – PROPERTY AND EQUIPMENT, NET

As of June 30, 2023, property and equipment consists of the following:

	June 30, 2023			December 31, 2022

Property and equipment:
Office equipment	$	724,433		$	724,433
Leasehold improvement		246,643			246,643
Subtotal		971,076			971,076
Less: Accumulated depreciation		(232,048	)		(49,124	)
Property and equipment, net	$	739,028		$	921,952

Depreciation expenses of office equipment were $182,924 and $24,952 for the period ended June 30, 2023 and 2022.

	June 30, 2023			December 31, 2022

Amortised expenses		995,775			995,775
Less: Accumulated amortization		(301,581	)		(166,792	)
Amortised expenses, net	$	694,194		$	828,983

Amortization expenses are related to the office renovation. Amortisation expenses were $134,789 for the period ended June 30, 2023 and $3,546 for the period ended June 30, 2022.

NOTE 8 – ACCOUNT RECEIVABLES, NET

As of June 30, 2023, accounts receivable are related to the services fee receivables from customers as follow:

	June 30, 2023		December 31, 2022
Accounts Receivable- Non related parties	$	-	$	6,174,055
Accounts Receivable- Related parties		-		549,606
	$	-	$	6,723,661

The Company’s financial instruments that are exposed to concentrations of credit risk consist primarily of accounts receivable. The Company does not require collateral for accounts receivable. The Company maintains an allowance for its doubtful accounts receivable due to estimated credit losses. The Company records the allowance against bad debt expense through the condensed consolidated statements of operations, included in general and administrative expense, up to the amount of revenues recognized to date. Receivables are written off and charged against the recorded allowance when the Company has exhausted collection efforts without success. As of June 30, 2023, accounts receivable from five main customers have been fully settled.

NOTE 9 – PREPAYMENTS

As of June 30, 2023, prepayments consist of the following:

	June 30, 2023		December 31, 2022
Software development fee- Current	$	1,926,838	$	1,860,568
Software development fee- Non current		10,000,000		10,000,000
Block chain software and annual fee		552,647		552,647
	$	12,479,485	$	12,413,215

As of June 30, 2023, software development fee-current are mainly related to the prepayment of Y-cloud system development and system iteration of $1,926,838, which expect to be completed by September 2023.

As of June 30, 2023, software development fee-non-current are mainly related to the WT Pay system development prepayment of $10 million, which expect to be completed by September 2023.

As of June 30, 2023 and December 31, 2022, prepayments- related parties consist of the following:

		June 30, 2023				December 31, 2022
Software development fee- Current		$	977,500			$	1,914,516

As of June 30, 2023, the prepayment- related parties are mainly related to the Y-cloud system upgrade, which is expected to be completed by September 2023.

NOTE 10 – LOAN RECEIVABLES

As of June 30, 2023, loan receivables consist of the following:

		June 30, 2023				December 31, 2022
Loan receivables		$	7,220,242			$	1,614,841

The accrued interest and principal amount of the loan for the year ended June 30, 2023 and December 31, 2022 are as follow:

	June 30, 2023		December 31, 2022
Borrower I	$	289,208	$	1,614,841
Borrower II		6,931,034		-
		7,220,242		1,614,841
Accrued interest		-		-
	$	7,220,242	$	1,614,841

The Company has waived the interest to the borrower I and the interest from borrower II will be commenced from July 1, 2023, therefore no interest was accrued during the period.

NOTE 11 – OTHER RECEIVABLES

As of June 30, 2023, other receivables-current consists of staff advances and petty cash as follow:

		June 30, 2023				December 31, 2022
Advances to staff			59,180				47,941

As of June 30, 2023 other receivables non-current consists of office rental deposit as follow:

		June 30, 2023				December 31, 2022
Rental deposit			228,104				240,202

NOTE 12 – AMOUNT DUE TO RELATED PARTIES

	June 30, 2023		December 31, 2022

Related parties payable	$	1,419,503	$	521,296
Director fee payable		854,000		770,000
	$	2,273,503	$	1,291,296

The related party balance of $1,419,503 represented advances and professional expenses paid on behalf by Shareholders, which consists of $427,731 advance from Dai Zheng, $42,000 advance from Li Zhuo, $760,537 from Che Kean Tat and $189,235 office rental advance from Liu Pijun through Zhiding Network Technology (Beijing) Co Limited (“ZNTB”). It is unsecured, interest-free with no fixed payment term and imputed interest is considered to be immaterial.

As of June 30, 2023, the director fee payable of $854,000 represented the accrual of director fees from the appointment date to June 30, 2023.

NOTE 13 – ACCRUED EXPENSES

As of June 30, 2023, accrued expenses consists of the accrued payroll, Central Provident Fund and social welfare as follow:

		June 30, 2023				December 31, 2022
Accrued payroll		$	262,256			$	298,595

NOTE 14 – OTHER PAYABLES

As of June 30, 2023, other payables consists of the payables of tax payable, securities account set up fee and related documentation expenses as follow:

	June 30, 2023			December 31, 2022
Tax (receivable)/ payables		(42,549	)		130,717
Y-Cloud System upgrade and iteration payables	$	349,088		$	1,839,053
Security account set up fee-Staff		486,135			486,135
	$	792,674		$	2,455,905

NOTE 15 – DISCONTINUED OPERATIONS

On January 16, 2023, the Company’s Board of Directors passed a resolution to dissolve the operation of Yueshang Group Network (Hunan) Co., Limited (“Yueshang Hunan”), resulting in a loss on disposal of $3,928. Loss from discontinued operations for the period ended June 30, 2023 and 2022 was as follows:

	Six Months ended June 30 2023			Six Months ended June 30 2022
Revenue:
Service revenue	$	-		$	254,522
Cost of revenue		(3	)		(111,252	)
Gross loss		(3	)		143,270

Operating expenses:
General and Administrative		3,925			(165,228	)
Operations Loss		(3,928	)		-
Other (expenses)/ revenue		-			-
Loss from discontinued operations before income tax		(3,928	)		(21,958	)
Income tax expense		-			-
Loss from discontinued operation after tax		(3,928	)		(21,958	)
Loss on disposal of discontinued operation		(1,236,377	)		(1,460,180	)
LOSS FROM DISCONTINUED OPERATION	$	(1,240,305	)	$	(1,482,138	)

The major components of assets and liabilities related to discontinued operations are summarized below:

	June 30, 2023		December 31, 2022

ASSETS
Current assets:
Cash and cash equivalents	$	10	$	13
Accounts receivables		655,088		654,139
Prepayments		748,802		747,717
Property and equipment, net		66,673		70,493
Intangible asset		227		230
Other receivables		2,905		2,899
Total assets related to discontinued operations		1,473,705		1,475,491

Account payables	$	194,462		194,179
Other payables		38,938		38,881
Total liabilities related to discontinued operations		233,400		233,060

NOTE 16 – SHAREHOLDERS’ EQUITY

The Company has an unlimited number of ordinary shares authorized, and has issued 195,057,503 shares with no par value as of December 31, 2022.

On March 29, 2019, the Company has issued 100,000,000 shares with no par value to thirty-three founders. On September 3, 2019, the Company has issued a total 74,000 shares at $3 each to 5 non-US shareholders. The total outstanding shares has increased to 100,074,000 shares as of December 31, 2019.

In February 2020, there are 1,666,666 shares were issued at $3 per share to 2 new shareholders. On July 10, 2020, the Company issued another 26,000 shares at $3 per share to 2 new shareholders and the total outstanding shares has increased to 101,766,666 shares.

On September 15, 2020, the Wyoming Secretary of State approved the Company’s certificate of amendment to amend its Articles of Incorporation to effect 3 for 1 forward stock split. The total issued and outstanding shares of the Company’s common stock has been increased from 101,766,666 to 305,299,998 shares, with the par value unchanged at zero.

On September 21, 2020, there are 151,500 shares issued at $5 per share to 303 new shareholders, the Company’s common stock issued has been increased to 305,451,498 shares as of December 31, 2020.

On April 13, 2022, the Company and 15 shareholders entered into that certain Share Exchange Agreement (the “Share Exchange Agreement”), pursuant to which Company and the 15 Shareholders have cancelled 120,418,995 shares of Common Stock (“Cancellation Shares”). Upon completion of the transaction, the outstanding shares of the Company’s Common Stock has been decreased from 305,451,498 shares to 185,032,503 shares as of June 30, 2022.

On July 21, 2022, the Company completed uplisting of its common stock to the Nasdaq Capital Market, and the closing of its public offering of 10,000,000 shares of common stock with the gross proceeds of $40,000,000 and net proceeds of $37,057,176 after deducting the total offering cost of $2,942,824. The shares were priced at $4.00 per share, and the offering was conducted on a firm commitment basis. The shares continue to trade under the stock symbol “WETG.” The Company’s total issued and outstanding common stock has been increased to 195,032,503 shares after the offering.

On July 22, 2022, the Company issued 25,000 shares of common stock to certain service providers for services in connection with the public offering, the fair value of the share was $477,500. The Company’s total issued and outstanding common stock has been increased to 195,057,503 shares in 2022.

On June 9, 2023, the Wyoming Secretary of State approved the Company’s certificate of amendment to amend its Articles of Incorporation to effect 1 for 185 reverse stock split (“Reverse Stock Split”). The total issued and outstanding shares of the Company’s common stock decreased from 195,057,503 to 1,054,530 shares, with the par value unchanged at zero.

NOTE 17 – INCOME TAXES

The Company is subject to U.S. Federal tax laws. The Company has not recognized an income tax benefit for its operating losses in the United States because the Company does not expect to commence active operations in the United States.

UTour Pte Ltd (“UTour”) was incorporated in Singapore and is subject to Singapore profits tax at a tax rate of 17%. Since UTour had no taxable income during the reporting period, it has not paid Singapore profits taxes. UTour has not recognized an income tax benefit for its operating losses in Singapore because it does not expect to commence active operations in Singapore.

WeTrade Information Technology Limited (“WITL”) was incorporated in Hong Kong and is subject to Hong Kong profits tax at a tax rate of 16.5%. Since WITL had no taxable income during the reporting period, it has not paid Hong Kong profits taxes. WITL has not recognized an income tax benefit for its operating losses in Hong Kong because the Company does not expect to commence active operations in Hong Kong.

The Company is currently conducting its major operations in the PRC through Yueshang Information Technology (Beijing) Co., Ltd., Yushang Group (Hunan) Network Technology Limited, Yueshang Technology Group (Hainan) Limited and Tibet Xiaoshang Technology Group Limited, which are subject to tax from 15% to 25%.

NOTE 18- SUBSEQUENT EVENTS

In accordance with FASB ASC 855-10 Subsequent Events, the Company has analyzed its operations subsequent to June 30, 2023, to the date these unaudited condensed consolidated financial statements were issued and has determined that it does not have any material subsequent events to disclose in these consolidated financial statements.

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis of financial condition and results of operations should be read in conjunction with our financial statements and related notes included elsewhere in this report. This discussion contains forward-looking statements that involve risks, uncertainties and assumptions. See “Cautionary Note Regarding Forward-Looking Statements.” Our actual results could differ materially from those anticipated in the forward-looking statements as a result of certain factors discussed elsewhere in this report.

Overview

WeTrade Group, Inc was incorporated in the State of Wyoming on March 28, 2019 and is in the business of providing technical services and solutions via its social e-commerce platform. We are committed to providing an international cloud-based intelligence system and independently developed a micro-business cloud intelligence system called the “YCloud”, which provide technical and auto-billing management services to micro-business online stores in China through big data analytics, machine learning mechanisms, social network recommendations, and multi-channel data analysis. Furthermore, we intend to expand our business in online payment systems and block-chain services in 2023.

The main functions of the YCloud system are to manage users’ marketing relationships, CPS commission profit management, multi-channel data statistics, AI fission and management, and improved supply chain systems.

Currently, YCloud serves the micro business industry. We have expanded the application of YCloud to tourism, hospitality, livestreaming and short video, medical beauty and traditional retail industries.

Results of Operations

Results of Operations for the Six months period Ended June 30, 2023 and 2022

The following tables provide a comparison of a summary of our results of operations for the six months period ended June 30, 2023 and 2022.

	For the period June 30, 2023			From the period June 30, 2022
Revenue:
Service revenue- related parties	$	36,530		$	288,337
Service revenue- non related parties		566,813			3,302,074
		603,343			3,590,411
Cost of Revenue		(1,005,089	)		(768,587	)
Gross (Loss)/ Profit		(401,746	)		2,821,824
Operating Expenses:
General and Administrative		(1,501,985	)		(2,619,894	)
Operation (Loss) /Profit		(1,903,731	)		201,930
Other (expenses) /income		977,213			72,941
Net (Loss) /Profit before income tax		(926,518	)		274,871
Income tax expense		(32,243	)		(134,694	)
Net (Loss)/ Profit		(958,761	)		140,177

Revenue from Operations

For the six-month period ended June 30, 2023 and 2022, total revenue was $603,343 and $3,590,411 respectively, the decrease was mainly due to the decrease in Gross Merchandise Volume (“GMV”) in YCloud system as a result of the adjusting of Company business plan in 2023. The Company intend to shift its SAAS, block-chain and WT Pay services from PRC to overseas market. As of June 30, 2023 and 2022, service revenue from third party were $566,813 (2022: $3,302,074) and service revenue from related party were $36,530 (2022: $288,337).

Cost of revenue

Cost of revenue mainly consists of staff payroll, PRC central provident fund (“CPF”), staff benefits and YCloud system related expenses, the increase is mainly due to the fact that more expenses were incurred for the system development and system iteration costs during the period.

General and Administrative Expenses

For the six months period ended June 30, 2023 and 2022, general and administrative expenses were $1,505,985 and $2,619,894 respectively. The decrease is mainly due to decrease in advertising and promotion expenses during the period.

Net (Loss)/ Income

As a result of the factors described above, there was a net loss of $958,761 and net income of $140,177 for the period ended June 30, 2023 and 2022, respectively. The increase in net loss is mainly due to decrease in Gross Merchandise Volume (“GMV”) as a result of the adjusting of Company business plan in 2023. The Company is intend to shift its SAAS, block-chain and WT Pay services from PRC to overseas market.

Results of Operations for the three months period Ended June 30, 2023 and 2022

The following tables provide a comparison of a summary of our results of operations for the three months period ended June 30, 2023 and 2022.

	For the period June 30, 2023			From the period June 30, 2022
Revenue:
Service revenue- related parties	$	-		$	129,819
Service revenue- non related parties		-			1,321,640
		-			1,451,459
Cost of Revenue		(94,582	)		(95,949	)
Gross (Loss)/ Profit		(94,582	)		1,355,510
Operating Expenses:
General and Administrative		(822,220	)		(1,827,438	)
Operation Loss		(916,802	)		(471,928	)
Other income		975,124			24,658
Net Profit/ (Loss) before income tax		58,322			(447,270	)
Income tax expense		(32,243	)		(4,869	)
Net Income/ (Loss)		26,079			(452,139	)

Revenue from Operations

For the three-month period ended June 30, 2023 and 2022, total revenue was $nil and $1,451,459 respectively, the decrease was mainly due to the Company has changed its business strategy and intends to shift its SAAS, block-chain and WT Pay services from PRC to overseas market.

Cost of revenue

Cost of revenue mainly consists of staff payroll, PRC central provident fund (“CPF”), staff benefits and YCloud system related expenses, there is not material movement in cost of revenue during the period.

General and Administrative Expenses

For the three months period ended June 30, 2023 and 2022, general and administrative expenses were $826,145 and $1,827,438 respectively, the decrease is mainly due to decrease in advertising and promotion expenses during the period.

Net Income/ (Loss)

As a result of the factors described above, there was a net income of $26,079 and net loss of $452,139 for the period ended June 30, 2023 and 2022, respectively, the increase in net income is mainly due to bad debt recovered from third party during the period.

Liquidity and Capital Resources

As of June 30, 2023, we had cash on hand of $20,004,914. The increase is mainly due to the fact that the Company has uplisted its common stock to the Nasdaq Capital Market with the public offering of 10,000,000 shares of common stock with the net proceeds of $37,057,176 after deducting the total offering cost of $2,942,824 in July 2022. The increase is partially mitigated by the payment of system development fee.

Operating activities

As of June 30, 2023, our cash flow provided by operating activities is $5,239,579 for the period ended June 30, 2023 as compared to the cash flow provided by operating activities of $5,344,055 in prior period, which decreased by approximately of $0.1 million. The decrease was mainly due to decrease in revenue and decrease in Y-cloud SAAS services fee received from the customers during the period.

Investing activities

As of June 30, 2023, cash used in investing activities is $5,605,401 for the period ended June 30, 2023 as compared to the cash flow used in investing activities of $36,674 in prior period. The increase was mainly due to addition of loan to third party of $5.6 million during the period.

Financing activities

Cash provided by our financing activities was 982,207 for the period ended June 30, 2023 as compared to cash provided by financing activities of $230,832. The increase is mainly due to addition advances from shareholders during the period.

Inflation

Inflation does not materially affect our business or the results of our operations.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements.

Critical Accounting Policies

We prepare our financial statements in accordance with generally accepted accounting principles of the United States (“GAAP”). GAAP represents a comprehensive set of accounting and disclosure rules and requirements. The preparation of our financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Our actual results could differ from those estimates. We use historical data to assist in the forecast of our future results. Deviations from our projections are addressed when our financials are reviewed on a monthly basis. This allows us to be proactive in our approach to managing our business. It also allows us to rely on proven data rather than having to make assumptions regarding our estimates.

Recent Accounting Pronouncements

We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company financial statements.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

We are a “smaller reporting company” as defined by Item 10(f)(1) of Regulation S-K, and as such are not required to provide the information contained in this item pursuant to Item 305 of Regulation S-K.

ITEM 4. CONTROLS AND PROCEDURES

Disclosure Controls and Procedures.

The management of the Company is responsible for establishing and maintaining adequate internal control over financial reporting. The Company’s internal control over financial reporting is a process designed under the supervision of the Company’s Chief Executive Officer and Chief Financial Officer to provide reasonable assurance regarding the reliability of financial reporting and the preparation of the Company’s financial statements for external purposes in accordance with U.S. generally accepted accounting principles.

With respect to the period ended June 30, 2023, under the supervision and with the participation of our management, we conducted an evaluation of the effectiveness of the design and operations of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) promulgated under the Securities Exchange Act of 1934.

Based upon our evaluation regarding the period ended June 30, 2023, the Company’s management, including its Principal Executive Officer, has concluded that its disclosure controls and procedures were not effective due to the Company’s limited internal resources and lack of ability to have multiple levels of transaction review. Material weaknesses noted are lack of an audit committee, lack of a majority of outside directors on the board of directors, resulting in ineffective oversight in the establishment and monitoring of required internal controls and procedures; and management is dominated by two individuals, without adequate compensating controls. However, management believes the financial statements and other information presented herewith are materially correct.

Our management assessed the effectiveness of our internal control over financial reporting as of June 30, 2023. In making this assessment, our management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) in Internal Control - Integrated Framework - Guidance for Smaller Public Companies (the COSO criteria). Based on our assessment, management identified material weaknesses related to: (i) our internal audit functions; (ii) a lack of segregation of duties within accounting functions; and the lack of multiple levels of review of our accounting data. Based on this evaluation, our management concluded that as of June 30, 2023, we did not maintain effective internal control over financial reporting.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with any policies and procedures may deteriorate. Due to our size and nature, segregation of all conflicting duties may not always be possible and may not be economically feasible. To the extent possible, we will implement procedures to assure that the initiation of transactions, the custody of assets and the recording of transactions will be performed by separate individuals. With proper funding we plan on remediating the significant deficiencies identified above, and we will continue to monitor the effectiveness of these steps and make any changes that our management deems appropriate.

A material weakness is a control deficiency (within the meaning of Public Company Accounting Oversight Board Auditing Standard No. 5) or combination of control deficiencies, that results in a reasonable possibility that a material misstatement of the annual or interim financial statements will not be prevented or detected on a timely basis.

Changes in Internal Control over Financial Reporting

There were no changes in our internal control over financial reporting that occurred during our most recently completed fiscal quarter that has materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II – OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None.

ITEM 1A. RISK FACTORS

We are a “smaller reporting company” as defined by Item 10(f)(1) of Regulation S-K, and as such are not required to provide the information contained in this item.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

No senior securities were issued and outstanding during the six months ended June 30, 2023.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable to our Company.

ITEM 5. OTHER INFORMATION

On June 9, 2023, the Wyoming Secretary of State approved the Company’s certificate of amendment to amend its Articles of Incorporation to effect 1 for 185 Reverse Stock Split. The total issued and outstanding shares of the Company’s common stock decreased from 195,057,503 to 1,054,364 shares, with the par value unchanged at zero.

The Reverse Stock Split is intended to more expediently enable the Company to regain compliance to achieve a minimum bid price of $1.00 per share for continued listing on Nasdaq, as set forth in Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Requirement”). As a result of the Reverse Stock Split, every one-for-one hundred and eighty-five (185) shares of the Company’s Common Stock then issued and outstanding will automatically, and without any action of the Company or any holder thereof, be combined, converted, and changed into one (1) validly issued and non-assessable share of Common Stock. No fractional shares will be issued to any shareholder, and in lieu of issuing any such fractional shares, the fractional shares resulting from the Reverse Stock Split will be rounded up to the nearest whole share of Common Stock.

ITEM 6. EXHIBITS

Exhibit No.		Description
31.1		Certification of Principal Executive Officer filed pursuant to Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 Filed herewith
31.2		Certification of Principal Financial Officer filed pursuant to Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 Filed herewith
32.1		Certification of Chief Executive Officer furnished pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 Filed herewith
32.2		Certification of Chief Financial Officer furnished pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 Filed herewith
101		Financial statements from the quarterly report on Form 10-Q of Wetrade Group Inc for the fiscal quarter ended June 30, 2023, formatted in XBRL: (i) the Balance Sheet; (ii) the Statement of Income; (iii) the Statement of Cash Flows; and (iv) the Notes to the Financial Statements Filed herewith

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	WETRADE GROUP INC

Dated August 21, 2023	By:	/s/ Wei Hechun
		Wei HeChun
		Chief Executive Officer

	/s/ Annie Huang
	Annie Huang
	Chief Financial Officer

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EXHIBIT 31.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

PURSUANT TO 15 U.S.C. SECTION 7241, AS

ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Wei Hechun, certify that:

1	I have reviewed the quarterly report on Form 10-Q of We Trade Group Inc., a Wyoming corporation, for the period ended June 30, 2023, as filed with the Securities and Exchange Commission;

2	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3	Based on my knowledge, the financial statements and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of and for, the periods presented in this report;

4	The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

	(a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

	(b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

	(c)	Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

	(d)	Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an Annual Report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5	The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

	(a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

	(b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: August 21, 2023	/s/ Wei Hechun
	Wei He Chun
	Chief Executive Officer

EXHIBIT 31.2

CERTIFICATION BY THE CHIEF FINANCIAL OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Annie Huang, certify that:

1	I have reviewed the Quarterly Report on Form 10-Q of We Trade Group Inc., a Wyoming corporation, for the period ended June 30, 2023, as filed with the Securities and Exchange Commission;

2	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3	Based on my knowledge, the financial statements and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of and for, the periods presented in this report;

4	The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

	(a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

	(b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

	(c)	Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

	(d)	Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an Annual Report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5	The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

	(a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

	(b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: August 21, 2023	/s/ Annie Huang
	Annie Huang
	Chief Financial Officer

EXHIBIT 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

I, Wei He Chun, Director and Chief Executive Officer of WeTrade Group Inc. (the “Company”), do hereby certify, in connection with Quarterly Report on Form 10-Q for the quarter ended June 30, 2023 (the “Report”) of the Company, the undersigned, in the capacity and on the date indicated below, hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1.	The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2.	The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: August 21, 2023	By:	/s/ Wei Hechun
		Wei Hechun
		Chief Executive Officer
		(principal executive officer)

EXHIBIT 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

I, Annie Huang, Director and Chief Financial Officer of WeTrade Group Inc. (the “Company”), do hereby certify, in connection with Quarterly Report on Form 10-Q for the quarter ended June 30, 2023 (the “Report”) of the Company, the undersigned, in the capacity and on the date indicated below, hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1.	The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2.	The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: August 21, 2023	By:	/s/ Annie Huang
		Annie Huang
		Chief Financial Officer
		(principal financial officer)

Document And Entity Information - shares	6 Months Ended
Document And Entity Information - shares	Jun. 30, 2023	Aug. 21, 2023
Document Information Line Items
Entity Registrant Name	WETRADE GROUP INC
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		1,054,530
Amendment Flag	false
Entity Central Index Key	0001784970
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Jun. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	WY
Entity Address, Address Line One	No 1 Gaobei South Coast
Entity Address, Address Line Two	Yi An Men 111 Block 37
Entity Address, Address Line Three	Chao Yang District
Entity Address, City or Town	Beijing City
Entity Address, Country	CN
City Area Code	(86)
Local Phone Number	13795206876
Entity Interactive Data Current	Yes
Entity Address, Postal Zip Code	100020
Entity File Number	001-41450
Entity Tax Identification Number	00-0000000

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 20,004,914	$ 20,025,480
Accounts receivable- non related parties, net		6,174,055
Accounts receivable- related parties, net		549,606
Loan receivables	7,220,242	1,614,841
Other receivables	59,180	47,941
Prepayments	2,479,485	2,413,215
Prepayments- related parties	977,500	1,914,516
Assets related to discontinued operation		1,475,491
Total current assets	30,741,321	34,215,145
Non-current assets:
Prepayments	10,000,000	10,000,000
Amortised expenses, net	694,194	828,983
Property and equipment, net	739,028	921,952
Intangible asset, net	18,449	22,959
Other receivables	228,104	240,202
Total non-current assets	11,679,775	12,014,096
Total assets:	42,421,096	46,229,241
Current liabilities:
Account payables	134,825	143,917
Account payables- related parties	78,273	86,956
Accrued expenses	262,256	298,595
Amount due to related parties	2,273,503	1,291,296
Other payables	792,674	2,455,905
Liabilities related to discontinued operation		233,062
Total current liabilities	3,541,531	4,509,731
Total liabilities	3,541,531	4,509,731
Stockholders’ equity:
Common stock; no par value; 1,054,530 and 195,057,503 issued and outstanding at June 30, 2023 and December 31, 2022 respectively
Additional paid in capital	43,732,196	43,732,196
Accumulated other comprehensive income	(935,527)	(298,576)
Accumulated deficits	(3,917,104)	(1,714,110)
Total stockholders’ equity	38,879,565	41,719,510
Total liabilities and stockholders’ equity	$ 42,421,096	$ 46,229,241

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock; par value (in Dollars per share)
Common stock, shares issued	1,054,530	195,057,503
Common stock, shares outstanding	1,054,530	195,057,503

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue:
Service revenue, related party		$ 129,819	$ 36,530	$ 288,337
Service revenue		1,321,640	566,813	3,302,074
Total service revenue		1,451,459	603,343	3,590,411
Cost of revenue	(94,582)	(95,949)	(1,005,089)	(768,587)
Gross (Loss)/Profit	(94,582)	1,355,510	(401,746)	2,821,824
Operating expenses
General and administrative expense	822,220	1,827,438	1,501,985	2,619,894
Total operating expenses	(822,220)	(1,827,438)	(1,501,985)	(2,619,894)
(Loss)/ Profit from operations	(916,802)	(471,928)	(1,903,731)	201,930
Other income	1,008,391	24,658	1,010,480	72,941
Other expenses	(33,267)		(33,267)
Profit/ (loss) before income taxes	58,322	(447,270)	(926,518)	274,871
Income tax expenses	(32,243)	(4,869)	(32,243)	(134,694)
Net Income/(Loss) from continuing operation	26,079	(452,139)	(958,761)	140,177
Discontinued Operations:
Loss from discontinued operation		(167,954)	(1,240,305)	(1,482,138)
Comprehensive income
Net Income/(Loss)	26,079	(620,093)	(2,199,066)	(1,341,961)
Other comprehensive income
Foreign currency translation adjustment	(663,272)	(745,699)	(636,951)	(711,109)
Total comprehensive loss	$ (637,193)	$ (1,365,792)	$ (2,836,017)	$ (2,053,070)
Loss per share, basic (in Dollars per share)	$ 0	$ 0	$ 0	$ 0
Weighted-average shares outstanding, basic (in Shares)	149,770,976	155,826,842	172,526,771	231,052,498

Condensed Consolidated Statements of Operations (Unaudited) (Parentheticals) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Loss per share, diluted	$ 0.00	$ 0.00	$ (0.02)	$ (0.01)
Weighted-average shares outstanding, diluted	149,770,976	155,826,842	172,526,771	231,052,498

Condensed Consolidated Statement of Changes in Stockholders’ Equity (Unaudited) - USD ($)	Common Stock	Additional Paid in Capital	Accumulated Deficits	Accumulated Other Comprehensive Income	Total
Balance at Dec. 31, 2021		$ 6,197,520	$ 7,433,305	$ 898,497	$ 14,529,322
Balance (in Shares) at Dec. 31, 2021	305,451,498
Share cancellation (in Shares)	(120,418,995)
Foreign currency translation adjustment				(711,109)	(711,109)
Disposition of discontinued operations			(1,482,138)		(1,504,096)
Net loss from discontinued operation			(21,958)		(21,958)
Net profit (loss) for the period			140,177		140,177
Balance at Jun. 30, 2022		6,197,520	6,069,386	187,388	12,454,294
Balance (in Shares) at Jun. 30, 2022	185,032,503
Balance at Mar. 31, 2022		6,197.52	6,689,479	933,087	13,820,086
Balance (in Shares) at Mar. 31, 2022	305,451,498
Share cancellation (in Shares)	(120,418,995)
Foreign currency translation adjustment				(745,699)	(745,699)
Disposition of discontinued operations			(167,954)		(167,954)
Net profit (loss) for the period			(452,139)		(452,139)
Balance at Jun. 30, 2022		6,197,520	6,069,386	187,388	12,454,294
Balance (in Shares) at Jun. 30, 2022	185,032,503
Balance at Dec. 31, 2022		43,732,196	(1,714,110)	(298,576)	41,719,510
Balance (in Shares) at Dec. 31, 2022	195,057,503
Reverse shares split
Reverse shares split (in Shares)	(194,002,973)
Foreign currency translation adjustment				(636,951)	(636,951)
Disposition of discontinued operations			(1,240,305)		(1,240,305)
Net loss from discontinued operation			(3,928)		(3,928)
Net profit (loss) for the period			(958,761)		(958,761)
Balance at Jun. 30, 2023		43,732,196	(3,917,104)	(935,527)	38,879,565
Balance (in Shares) at Jun. 30, 2023	1,054,530
Balance at Mar. 31, 2023		43,732,196	(3,943,183)	(272,255)	39,516,758
Balance (in Shares) at Mar. 31, 2023	195,057,503
Reverse shares split
Reverse shares split (in Shares)	(194,002,973)
Foreign currency translation adjustment				(663,272)	(663,272)
Net profit (loss) for the period			26,079		26,079
Balance at Jun. 30, 2023		$ 43,732,196	$ (3,917,104)	$ (935,527)	$ 38,879,565
Balance (in Shares) at Jun. 30, 2023	1,054,530

Condensed Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net (Loss)/ income	$ (958,761)	$ 140,177
Loss from discontinued operation	(3,928)	(21,958)
Loss from dissolved operation	(1,236,377)	(1,460,180)
Amortization of intangible asset	4,510	3,155
Depreciation	317,713	24,952
Changes in operating assets and liabilities:
Accounts receivables	6,174,055	4,969,602
Account receivable- related parties	549,606	3,177,767
Other receivables	859	(99,609)
Prepaid expenses	(66,270)	(1,831,269)
Prepaid expenses- related parties	937,016	222,783
Account payables	(9,092)	(23,141)
Account payable- related parties	(8,683)	157,281
Accrued expenses	(36,338)	(130,440)
Right of use assets		285,100
Lease liabilities		(311,320)
Tax payables	(173,267)	118,459
Other payables	(1,491,769)	122,696
Assets related to discontinued operations	1,240,305
Net cash flows provided by operating activities:	5,239,579	5,344,055
Cash flow from investing activities:
Loan receivables	(5,605,401)	611,715
Amortised expenses		(648,389)
Net cash used in investing activities:	(5,605,401)	(36,674)
Cash flow from financing activities:
Shareholders loan	982,207	230,832
Net cash flows provided by financing activities:	982,207	230,832
Effect of exchange rate changes on cash	(636,951)	(150,042)
Change in cash and cash equivalents:	(20,566)	5,388,171
Cash and cash equivalents, beginning of period	20,025,480	616,594
Cash and cash equivalents, end of period	20,004,914	6,004,765
Supplemental cash flow information:
Cash paid for interest
Cash paid for taxes

Nature of Business

6 Months Ended

Jun. 30, 2023

Nature of Business [Abstract]

NATURE OF BUSINESS

NOTE 1 – NATURE OF BUSINESS

Organization

Currently, YCloud serves the micro business industries such as tourism, hospitality, livestreaming and short video, medical beauty and traditional retail industries.

Our Business

	●	Single-scenario payment function: although micro-business owners are provided with a multi-method payment function for their consumers through the YCloud system, micro-business owners only have a single sales channel to display. The revenue of each sale is divided by commissions, and the cost is allocated to suppliers and the handling fee to the YCloud system. The remaining balance goes to micro-business owners.

	●	Multi-scenario payment function: micro-business owners have multiple sales channels to display and numerous channels to perform revenue sharing and profit consolidation functions. After various products are sold through different channels, the cost are allocated to suppliers and the handling fee are allocated to the YCloud system. The remaining balance will be combined and goes to micro-business owners.

Team management: the YCloud system utilizes user marketing relationship tracking and CPS commission revenue management tools.

The following diagram sets forth the structure of the Company as of the date of this Quarterly Report:

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2023

Summary of Significant Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Preparation of Financial Statements

As of June 30, 2023, the details of the consolidating subsidiaries are as follows:

	Place of	*Attributable* *equity*
Name of Company	incorporation	interest %
Utour Pte Ltd	Singapore		100	%
WeTrade Information Technology Limited (“WITL”)	Hong Kong		100	%
Yueshang Information Technology (Beijing) Co., Ltd. (“YITB”)	P.R.C.		100	%
WeTrade Digital Technology (Beijing) Co Limited	P.R.C		100	%
Yueshang Technology Group (Zhuhai Hengqin) Limited	P.R.C		100	%
Tibet Xiaoshang Technology Co Limited (“Tibet Xiaoshang”)	P.R.C		100	%
Shanghai Yueshang Information Technology Limited	P.R.C		100	%

Nature of Operations

As of June 30, 2023, the nature operation of its subsidiaries are as follows:

*Name of Company*	*Place* *of incorporation*	*Nature of operation*
Utour Pte Ltd	Singapore	Investment holding company
WeTrade Information Technology Limited (“WITL”)	Hong Kong	Investment holding company
Yueshang Information Technology (Beijing) Co., Ltd. (“YITB”)	P.R.C.	Providing of social e-commerce services, technical system support and services
WeTrade Digital Technology (“Beijing”) Co Limited	P.R.C	Providing of social e-commerce services, technical system support and services
Yueshang Technology Group (Zhuhai Hengqin) Limited	P.R.C	Providing of social e-commerce services, technical system support and services
Tibet Xiaoshang Technology Co Limited (“Tibet Xiaoshang”)	P.R.C	Providing of social e-commerce services, technical system support and services.
Shanghai Yueshang Information Technology Limited	P.R.C	Providing of social e-commerce services, technical system support and services.

Revenue recognition

Cash and Cash Equivalents

Foreign Currency

		June 30, 2023				December 31, 2022
RMB: US$ exchange rate			7.25				6.90

Consolidation

Use of Estimates

Property and Equipment, Net

Office equipment		3 years
Leasehold improvements		5 years

Concentration of Risk

Accounts Receivable

Intangible Asset, Net

Intangible asset is software development cost incurred by the Company and it will be amortized on a straight line basis over the estimated useful life of 5 years.

Leases

Software Development Costs

Income Tax

Loss Per Share

Potential dilutive securities are excluded from the calculation of diluted EPS in profit periods as their effect would be anti-dilutive.

As of June 30, 2023, there were no potentially dilutive shares.

	For the period June 30, 2023			For the period June 30, 2022
Statement of Operations Summary Information:
Net (Loss)/ Profit	$	(958,761	)	$	140,177
Weighted-average common shares outstanding - basic and diluted		172,526,771			231,052,498
Net (Loss)/ Profit per share, basic and diluted	$	(0.00	)	$	0.00

Fair Value Measurements

Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

Recent Accounting Pronouncements

6 Months Ended

Jun. 30, 2023

Recent Accounting Pronouncements [Abstract]

RECENT ACCOUNTING PRONOUNCEMENTS

NOTE 3 – RECENT ACCOUNTING PRONOUNCEMENTS

Revenue

6 Months Ended

Jun. 30, 2023

Revenue [Abstract]

REVENUE

NOTE 4 – REVENUE

The system services fees are collected from five customers of YCloud system based on the GMV as follows:

Gross Merchandise Volume (“GMV”)	June 30, 2023		June 30, 2022
	US$		US$
Non-related parties:
Customer I		3,755,738		53,496,041
Customer II		4,962,341		20,811,155
Customer III		4,490,593		14,094,841
Customer IV		3,957,649		19,312,009
		17,166,321		107,714,046
Related party:
Customer V		1,106,347		8,732,504
Total GMV:		18,272,668		116,466,550

As of and for the period ended June 30, 2023, we generated revenues from customers amounting $603,343.

Cash and Cash Equivalents

6 Months Ended

Jun. 30, 2023

Cash and Cash Equivalents [Abstract]

CASH AND CASH EQUIVALENTS

NOTE 5 – CASH AND CASH EQUIVALENTS

As of June 30, 2023, the Company held cash in bank in the amount of $20,004,914, which consist of the following:

	June 30, 2023		December 31, 2022
Bank Deposits-USA	$	3,250		22,926
Bank Deposits- Outside USA		20,001,664		20,002,554
		20,004,914		20,025,480

Intangible Asset, Net

6 Months Ended

Jun. 30, 2023

Intangible Asset, Net [Abstract]

INTANGIBLE ASSET, NET

NOTE 6 – INTANGIBLE ASSET, NET

Intangible asset is software development cost incurred by Company, it will be amortized on a straight line basis over the estimated useful life of 5 years as follow:

	June 30, 2023
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Useful Life (Years)
Intangible assets:
Software development	$	57,143	$	(41,086	)	$	16,057		5
Foreign currency translation adjustment		-		-			2,392
Intangible assets, net	$	57,143	$	(41,086	)	$	18,449

	December 31, 2022
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Useful Life (Years)
Intangible assets:
Software development	$	57,143	$	(36,576	)	$	20,567		5
Foreign currency translation adjustment		-		-			2,392
Intangible assets, net	$	57,143	$	(36,576	)	$	22,959

Amortization expense for intangible assets was $4,510 for the six months period ended June 30, 2023.

Expected future intangible asset amortization as of June 30, 2023 was as follows:

Fiscal years:
Remaining 2023	$	2,871
2024		15,578

Property and Equipment, Net

6 Months Ended

Jun. 30, 2023

Property, Plant and Equipment, Net [Abstract]

PROPERTY AND EQUIPMENT, NET

NOTE 7 – PROPERTY AND EQUIPMENT, NET

As of June 30, 2023, property and equipment consists of the following:

	June 30, 2023			December 31, 2022

Property and equipment:
Office equipment	$	724,433		$	724,433
Leasehold improvement		246,643			246,643
Subtotal		971,076			971,076
Less: Accumulated depreciation		(232,048	)		(49,124	)
Property and equipment, net	$	739,028		$	921,952

Depreciation expenses of office equipment were $182,924 and $24,952 for the period ended June 30, 2023 and 2022.

	June 30, 2023			December 31, 2022

Amortised expenses		995,775			995,775
Less: Accumulated amortization		(301,581	)		(166,792	)
Amortised expenses, net	$	694,194		$	828,983

Amortization expenses are related to the office renovation. Amortisation expenses were $134,789 for the period ended June 30, 2023 and $3,546 for the period ended June 30, 2022.

Account Receivables, Net

6 Months Ended

Jun. 30, 2023

Account Receivables, Net [Abstract]

ACCOUNT RECEIVABLES, NET

NOTE 8 – ACCOUNT RECEIVABLES, NET

As of June 30, 2023, accounts receivable are related to the services fee receivables from customers as follow:

	June 30, 2023		December 31, 2022
Accounts Receivable- Non related parties	$	-	$	6,174,055
Accounts Receivable- Related parties		-		549,606
	$	-	$	6,723,661

Prepayments

6 Months Ended

Jun. 30, 2023

Prepayments [Abstract]

PREPAYMENTS

NOTE 9 – PREPAYMENTS

As of June 30, 2023, prepayments consist of the following:

	June 30, 2023		December 31, 2022
Software development fee- Current	$	1,926,838	$	1,860,568
Software development fee- Non current		10,000,000		10,000,000
Block chain software and annual fee		552,647		552,647
	$	12,479,485	$	12,413,215

As of June 30, 2023, software development fee-non-current are mainly related to the WT Pay system development prepayment of $10 million, which expect to be completed by September 2023.

As of June 30, 2023 and December 31, 2022, prepayments- related parties consist of the following:

		June 30, 2023				December 31, 2022
Software development fee- Current		$	977,500			$	1,914,516

As of June 30, 2023, the prepayment- related parties are mainly related to the Y-cloud system upgrade, which is expected to be completed by September 2023.

Loan Receivables

6 Months Ended

Jun. 30, 2023

Loan Receivables [Abstract]

LOAN RECEIVABLES

NOTE 10 – LOAN RECEIVABLES

As of June 30, 2023, loan receivables consist of the following:

		June 30, 2023				December 31, 2022
Loan receivables		$	7,220,242			$	1,614,841

The accrued interest and principal amount of the loan for the year ended June 30, 2023 and December 31, 2022 are as follow:

	June 30, 2023		December 31, 2022
Borrower I	$	289,208	$	1,614,841
Borrower II		6,931,034		-
		7,220,242		1,614,841
Accrued interest		-		-
	$	7,220,242	$	1,614,841

The Company has waived the interest to the borrower I and the interest from borrower II will be commenced from July 1, 2023, therefore no interest was accrued during the period.

Other Receivables

6 Months Ended

Jun. 30, 2023

Other Receivables [Abstract]

OTHER RECEIVABLES

NOTE 11 – OTHER RECEIVABLES

As of June 30, 2023, other receivables-current consists of staff advances and petty cash as follow:

		June 30, 2023				December 31, 2022
Advances to staff			59,180				47,941

As of June 30, 2023 other receivables non-current consists of office rental deposit as follow:

		June 30, 2023				December 31, 2022
Rental deposit			228,104				240,202

Amount Due to Related Parties

6 Months Ended

Jun. 30, 2023

Amount Due to Related Parties [Abstract]

AMOUNT DUE TO RELATED PARTIES

NOTE 12 – AMOUNT DUE TO RELATED PARTIES

	June 30, 2023		December 31, 2022

Related parties payable	$	1,419,503	$	521,296
Director fee payable		854,000		770,000
	$	2,273,503	$	1,291,296

As of June 30, 2023, the director fee payable of $854,000 represented the accrual of director fees from the appointment date to June 30, 2023.

Accrued Expenses

6 Months Ended

Jun. 30, 2023

Accrued Expenses [Abstract]

ACCRUED EXPENSES

NOTE 13 – ACCRUED EXPENSES

As of June 30, 2023, accrued expenses consists of the accrued payroll, Central Provident Fund and social welfare as follow:

		June 30, 2023				December 31, 2022
Accrued payroll		$	262,256			$	298,595

Other Payables

6 Months Ended

Jun. 30, 2023

Other Payables [Abstract]

OTHER PAYABLES

NOTE 14 – OTHER PAYABLES

As of June 30, 2023, other payables consists of the payables of tax payable, securities account set up fee and related documentation expenses as follow:

	June 30, 2023			December 31, 2022
Tax (receivable)/ payables		(42,549	)		130,717
Y-Cloud System upgrade and iteration payables	$	349,088		$	1,839,053
Security account set up fee-Staff		486,135			486,135
	$	792,674		$	2,455,905

Discontinued Operations

6 Months Ended

Jun. 30, 2023

Discontinued Operations [Abstract]

DISCONTINUED OPERATIONS

NOTE 15 – DISCONTINUED OPERATIONS

	Six Months ended June 30 2023			Six Months ended June 30 2022
Revenue:
Service revenue	$	-		$	254,522
Cost of revenue		(3	)		(111,252	)
Gross loss		(3	)		143,270

Operating expenses:
General and Administrative		3,925			(165,228	)
Operations Loss		(3,928	)		-
Other (expenses)/ revenue		-			-
Loss from discontinued operations before income tax		(3,928	)		(21,958	)
Income tax expense		-			-
Loss from discontinued operation after tax		(3,928	)		(21,958	)
Loss on disposal of discontinued operation		(1,236,377	)		(1,460,180	)
LOSS FROM DISCONTINUED OPERATION	$	(1,240,305	)	$	(1,482,138	)

The major components of assets and liabilities related to discontinued operations are summarized below:

	June 30, 2023		December 31, 2022

ASSETS
Current assets:
Cash and cash equivalents	$	10	$	13
Accounts receivables		655,088		654,139
Prepayments		748,802		747,717
Property and equipment, net		66,673		70,493
Intangible asset		227		230
Other receivables		2,905		2,899
Total assets related to discontinued operations		1,473,705		1,475,491

Account payables	$	194,462		194,179
Other payables		38,938		38,881
Total liabilities related to discontinued operations		233,400		233,060

Shareholders’ Equity

6 Months Ended

Jun. 30, 2023

Shareholders’ Equity [Abstract]

SHAREHOLDERS’ EQUITY

NOTE 16 – SHAREHOLDERS’ EQUITY

The Company has an unlimited number of ordinary shares authorized, and has issued 195,057,503 shares with no par value as of December 31, 2022.

On September 21, 2020, there are 151,500 shares issued at $5 per share to 303 new shareholders, the Company’s common stock issued has been increased to 305,451,498 shares as of December 31, 2020.

Income Taxes

6 Months Ended

Jun. 30, 2023

Income Taxes [Abstract]

INCOME TAXES

NOTE 17 – INCOME TAXES

Subsequent Events

6 Months Ended

Jun. 30, 2023

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 18- SUBSEQUENT EVENTS

Accounting Policies, by Policy (Policies)

6 Months Ended

Jun. 30, 2023

Summary of Significant Accounting Policies [Abstract]

Basis of Preparation Of Financial Statements

Basis of Preparation of Financial Statements

As of June 30, 2023, the details of the consolidating subsidiaries are as follows:

	Place of	*Attributable* *equity*
Name of Company	incorporation	interest %
Utour Pte Ltd	Singapore		100	%
WeTrade Information Technology Limited (“WITL”)	Hong Kong		100	%
Yueshang Information Technology (Beijing) Co., Ltd. (“YITB”)	P.R.C.		100	%
WeTrade Digital Technology (Beijing) Co Limited	P.R.C		100	%
Yueshang Technology Group (Zhuhai Hengqin) Limited	P.R.C		100	%
Tibet Xiaoshang Technology Co Limited (“Tibet Xiaoshang”)	P.R.C		100	%
Shanghai Yueshang Information Technology Limited	P.R.C		100	%

Nature of Operations

Nature of Operations

As of June 30, 2023, the nature operation of its subsidiaries are as follows:

*Name of Company*	*Place* *of incorporation*	*Nature of operation*
Utour Pte Ltd	Singapore	Investment holding company
WeTrade Information Technology Limited (“WITL”)	Hong Kong	Investment holding company
Yueshang Information Technology (Beijing) Co., Ltd. (“YITB”)	P.R.C.	Providing of social e-commerce services, technical system support and services
WeTrade Digital Technology (“Beijing”) Co Limited	P.R.C	Providing of social e-commerce services, technical system support and services
Yueshang Technology Group (Zhuhai Hengqin) Limited	P.R.C	Providing of social e-commerce services, technical system support and services
Tibet Xiaoshang Technology Co Limited (“Tibet Xiaoshang”)	P.R.C	Providing of social e-commerce services, technical system support and services.
Shanghai Yueshang Information Technology Limited	P.R.C	Providing of social e-commerce services, technical system support and services.

Revenue recognition

Revenue recognition

Cash and Cash Equivalents

Cash and Cash Equivalents

Foreign Currency

Foreign Currency

		June 30, 2023				December 31, 2022
RMB: US$ exchange rate			7.25				6.90

Consolidation

Consolidation

Use of Estimates

Use of Estimates

Property and Equipment, Net

Property and Equipment, Net

Office equipment		3 years
Leasehold improvements		5 years

Concentration of Risk

Concentration of Risk

Accounts Receivable

Accounts Receivable

Intangible Asset, Net

Intangible Asset, Net

Intangible asset is software development cost incurred by the Company and it will be amortized on a straight line basis over the estimated useful life of 5 years.

Leases

Leases

Software Development Costs

Software Development Costs

Income Tax

Income Tax

Loss Per Share

Loss Per Share

Potential dilutive securities are excluded from the calculation of diluted EPS in profit periods as their effect would be anti-dilutive.

As of June 30, 2023, there were no potentially dilutive shares.

	For the period June 30, 2023			For the period June 30, 2022
Statement of Operations Summary Information:
Net (Loss)/ Profit	$	(958,761	)	$	140,177
Weighted-average common shares outstanding - basic and diluted		172,526,771			231,052,498
Net (Loss)/ Profit per share, basic and diluted	$	(0.00	)	$	0.00

Fair Value Measurements

Fair Value Measurements

Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2023

Summary of Significant Accounting Policies [Abstract]

Schedule of Consolidated Subsidiaries

As of June 30, 2023, the details of the consolidating subsidiaries are as follows:

	Place of	*Attributable* *equity*
Name of Company	incorporation	interest %
Utour Pte Ltd	Singapore		100	%
WeTrade Information Technology Limited (“WITL”)	Hong Kong		100	%
Yueshang Information Technology (Beijing) Co., Ltd. (“YITB”)	P.R.C.		100	%
WeTrade Digital Technology (Beijing) Co Limited	P.R.C		100	%
Yueshang Technology Group (Zhuhai Hengqin) Limited	P.R.C		100	%
Tibet Xiaoshang Technology Co Limited (“Tibet Xiaoshang”)	P.R.C		100	%
Shanghai Yueshang Information Technology Limited	P.R.C		100	%

Schedule of Nature Operation

As of June 30, 2023, the nature operation of its subsidiaries are as follows:

*Name of Company*	*Place* *of incorporation*	*Nature of operation*
Utour Pte Ltd	Singapore	Investment holding company
WeTrade Information Technology Limited (“WITL”)	Hong Kong	Investment holding company
Yueshang Information Technology (Beijing) Co., Ltd. (“YITB”)	P.R.C.	Providing of social e-commerce services, technical system support and services
WeTrade Digital Technology (“Beijing”) Co Limited	P.R.C	Providing of social e-commerce services, technical system support and services
Yueshang Technology Group (Zhuhai Hengqin) Limited	P.R.C	Providing of social e-commerce services, technical system support and services
Tibet Xiaoshang Technology Co Limited (“Tibet Xiaoshang”)	P.R.C	Providing of social e-commerce services, technical system support and services.
Shanghai Yueshang Information Technology Limited	P.R.C	Providing of social e-commerce services, technical system support and services.

Schedule of Exchange Rate

There were no gains and losses from foreign currency transactions from the inception to June 30, 2023.

		June 30, 2023				December 31, 2022
RMB: US$ exchange rate			7.25				6.90

Schedule of Estimated Useful Lives of Assets

Office equipment		3 years
Leasehold improvements		5 years

Schedule of Potentially Diluted Shares

As of June 30, 2023, there were no potentially dilutive shares.

	For the period June 30, 2023			For the period June 30, 2022
Statement of Operations Summary Information:
Net (Loss)/ Profit	$	(958,761	)	$	140,177
Weighted-average common shares outstanding - basic and diluted		172,526,771			231,052,498
Net (Loss)/ Profit per share, basic and diluted	$	(0.00	)	$	0.00

Revenue (Tables)

6 Months Ended

Jun. 30, 2023

Revenue [Abstract]

Schedule of System Services Fees are Collected From Five Customers

The system services fees are collected from five customers of YCloud system based on the GMV as follows:

Gross Merchandise Volume (“GMV”)	June 30, 2023		June 30, 2022
	US$		US$
Non-related parties:
Customer I		3,755,738		53,496,041
Customer II		4,962,341		20,811,155
Customer III		4,490,593		14,094,841
Customer IV		3,957,649		19,312,009
		17,166,321		107,714,046
Related party:
Customer V		1,106,347		8,732,504
Total GMV:		18,272,668		116,466,550

Cash and Cash Equivalents (Tables)

6 Months Ended

Jun. 30, 2023

Cash and Cash Equivalents [Abstract]

Schedule of Held Cash in Bank in the Amount

As of June 30, 2023, the Company held cash in bank in the amount of $20,004,914, which consist of the following:

	June 30, 2023		December 31, 2022
Bank Deposits-USA	$	3,250		22,926
Bank Deposits- Outside USA		20,001,664		20,002,554
		20,004,914		20,025,480

Intangible Asset, Net (Tables)

6 Months Ended

Jun. 30, 2023

Intangible Asset, Net [Abstract]

Schedule of Intangible Asset

Intangible asset is software development cost incurred by Company, it will be amortized on a straight line basis over the estimated useful life of 5 years as follow:

	June 30, 2023
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Useful Life (Years)
Intangible assets:
Software development	$	57,143	$	(41,086	)	$	16,057		5
Foreign currency translation adjustment		-		-			2,392
Intangible assets, net	$	57,143	$	(41,086	)	$	18,449

	December 31, 2022
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Useful Life (Years)
Intangible assets:
Software development	$	57,143	$	(36,576	)	$	20,567		5
Foreign currency translation adjustment		-		-			2,392
Intangible assets, net	$	57,143	$	(36,576	)	$	22,959

Schedule of Intangible Assets Amortization Expenses

Expected future intangible asset amortization as of June 30, 2023 was as follows:

Fiscal years:
Remaining 2023	$	2,871
2024		15,578

Property and Equipment, Net (Tables)

6 Months Ended

Jun. 30, 2023

Property, Plant and Equipment, Net [Abstract]

Schedule of Depreciation Expenses of Office Equipment

property and equipment consists of the following:

	June 30, 2023			December 31, 2022

Property and equipment:
Office equipment	$	724,433		$	724,433
Leasehold improvement		246,643			246,643
Subtotal		971,076			971,076
Less: Accumulated depreciation		(232,048	)		(49,124	)
Property and equipment, net	$	739,028		$	921,952

Schedule of Depreciation Expenses of Office Equipment

Depreciation expenses of office equipment

	June 30, 2023			December 31, 2022

Amortised expenses		995,775			995,775
Less: Accumulated amortization		(301,581	)		(166,792	)
Amortised expenses, net	$	694,194		$	828,983

Account Receivables, Net (Tables)

6 Months Ended

Jun. 30, 2023

Account Receivables, Net [Abstract]

Schedule of Account Receivable

As of June 30, 2023, accounts receivable are related to the services fee receivables from customers as follow:

	June 30, 2023		December 31, 2022
Accounts Receivable- Non related parties	$	-	$	6,174,055
Accounts Receivable- Related parties		-		549,606
	$	-	$	6,723,661

Prepayments (Tables)

6 Months Ended

Jun. 30, 2023

Prepayments [Abstract]

Schedule of Prepayments

As of June 30, 2023, prepayments consist of the following:

	June 30, 2023		December 31, 2022
Software development fee- Current	$	1,926,838	$	1,860,568
Software development fee- Non current		10,000,000		10,000,000
Block chain software and annual fee		552,647		552,647
	$	12,479,485	$	12,413,215

Schedule of Prepayments- Related Parties

As of June 30, 2023 and December 31, 2022, prepayments- related parties consist of the following:

		June 30, 2023				December 31, 2022
Software development fee- Current		$	977,500			$	1,914,516

Loan Receivables (Tables)

6 Months Ended

Jun. 30, 2023

Loan Receivables [Abstract]

Schedule of Loan Receivables

As of June 30, 2023, loan receivables consist of the following:

		June 30, 2023				December 31, 2022
Loan receivables		$	7,220,242			$	1,614,841

Schedule of Accrued Interest and Principal Amount

The accrued interest and principal amount of the loan for the year ended June 30, 2023 and December 31, 2022 are as follow:

	June 30, 2023		December 31, 2022
Borrower I	$	289,208	$	1,614,841
Borrower II		6,931,034		-
		7,220,242		1,614,841
Accrued interest		-		-
	$	7,220,242	$	1,614,841

Other Receivables (Tables)

6 Months Ended

Jun. 30, 2023

Other Receivables [Abstract]

Schedule of Other Receivables-Current

As of June 30, 2023, other receivables-current consists of staff advances and petty cash as follow:

		June 30, 2023				December 31, 2022
Advances to staff			59,180				47,941

Schedule of Other Receivables-Non-Current

As of June 30, 2023 other receivables non-current consists of office rental deposit as follow:

		June 30, 2023				December 31, 2022
Rental deposit			228,104				240,202

Amount Due to Related Parties (Tables)

6 Months Ended

Jun. 30, 2023

Amount Due to Related Parties [Abstract]

Schedule of Due to Related Parties

	June 30, 2023		December 31, 2022

Related parties payable	$	1,419,503	$	521,296
Director fee payable		854,000		770,000
	$	2,273,503	$	1,291,296

Accrued Expenses (Tables)

6 Months Ended

Jun. 30, 2023

Accrued Expenses [Abstract]

Schedule of Accrued Expenses

As of June 30, 2023, accrued expenses consists of the accrued payroll, Central Provident Fund and social welfare as follow:

		June 30, 2023				December 31, 2022
Accrued payroll		$	262,256			$	298,595

Other Payables (Tables)

6 Months Ended

Jun. 30, 2023

Other Payables [Abstract]

Schedule of Payables of Securities Account Set Up Fee and Related Documentation Expenses

As of June 30, 2023, other payables consists of the payables of tax payable, securities account set up fee and related documentation expenses as follow:

	June 30, 2023			December 31, 2022
Tax (receivable)/ payables		(42,549	)		130,717
Y-Cloud System upgrade and iteration payables	$	349,088		$	1,839,053
Security account set up fee-Staff		486,135			486,135
	$	792,674		$	2,455,905

Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2023

Discontinued Operations [Abstract]

Schedule of Discontinued Operations

Loss from discontinued operations for the period ended June 30, 2023 and 2022 was as follows:

	Six Months ended June 30 2023			Six Months ended June 30 2022
Revenue:
Service revenue	$	-		$	254,522
Cost of revenue		(3	)		(111,252	)
Gross loss		(3	)		143,270

Operating expenses:
General and Administrative		3,925			(165,228	)
Operations Loss		(3,928	)		-
Other (expenses)/ revenue		-			-
Loss from discontinued operations before income tax		(3,928	)		(21,958	)
Income tax expense		-			-
Loss from discontinued operation after tax		(3,928	)		(21,958	)
Loss on disposal of discontinued operation		(1,236,377	)		(1,460,180	)
LOSS FROM DISCONTINUED OPERATION	$	(1,240,305	)	$	(1,482,138	)

Schedule of Assets and Liabilities Related to Discontinued Operations

The major components of assets and liabilities related to discontinued operations are summarized below:

	June 30, 2023		December 31, 2022

ASSETS
Current assets:
Cash and cash equivalents	$	10	$	13
Accounts receivables		655,088		654,139
Prepayments		748,802		747,717
Property and equipment, net		66,673		70,493
Intangible asset		227		230
Other receivables		2,905		2,899
Total assets related to discontinued operations		1,473,705		1,475,491

Account payables	$	194,462		194,179
Other payables		38,938		38,881
Total liabilities related to discontinued operations		233,400		233,060

Nature of Business (Details) $ in Millions	6 Months Ended
Nature of Business (Details) $ in Millions	Jun. 30, 2023 USD ($)
Nature of Business [Abstract]
Number of customers	2
Market individual owners potential	$ 330

Summary of Significant Accounting Policies (Details)	6 Months Ended		12 Months Ended
Summary of Significant Accounting Policies (Details)	Jun. 30, 2023 USD ($) $ / shares	Jun. 30, 2023 USD ($) $ / shares ¥ / shares	Dec. 31, 2022 ¥ / shares	Jun. 30, 2023 ¥ / shares
Summary of Significant Accounting Policies (Details) [Line Items]
Exception of equity			¥ 6.9	¥ 7.25
Operations and comprehensive income		¥ 6.97
Cash on hand (in Dollars) \| $	$ 20,004,914	¥ 20,004,914
Account receivable (in Dollars) \| $
Estimated useful life	5 years	5 years
Percentage of tax benefit	50.00%
Minimum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Exception of equity			6.9
Operations and comprehensive income			¥ 6.75
Maximum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Exception of equity \| $ / shares	$ 1	¥ 1
Operations and comprehensive income \| $ / shares	$ 1

Summary of Significant Accounting Policies (Details) - Schedule of Consolidated Subsidiaries	6 Months Ended
	Jun. 30, 2023
Utour Pte Ltd [Member]
Schedule of Investments [Line Items]
Place of incorporation	Singapore
Attributable equity interest	100.00%
WeTrade Information Technology Limited (“WITL”) [Member]
Schedule of Investments [Line Items]
Place of incorporation	Hong Kong
Attributable equity interest	100.00%
Yueshang Information Technology (Beijing) Co., Ltd. (“YITB”) [Member]
Schedule of Investments [Line Items]
Place of incorporation	P.R.C.
Attributable equity interest	100.00%
WeTrade Digital Technology (Beijing) Co Limited [Member]
Schedule of Investments [Line Items]
Place of incorporation	P.R.C
Attributable equity interest	100.00%
Yueshang Technology Group (Zhuhai Hengqin) Limited [Member]
Schedule of Investments [Line Items]
Place of incorporation	P.R.C
Attributable equity interest	100.00%
Tibet Xiaoshang Technology Co Limited (“Tibet Xiaoshang”) [Member]
Schedule of Investments [Line Items]
Place of incorporation	P.R.C
Attributable equity interest	100.00%
Shanghai Yueshang Information Technology Limited [Member]
Schedule of Investments [Line Items]
Place of incorporation	P.R.C
Attributable equity interest	100.00%

Summary of Significant Accounting Policies (Details) - Schedule of Nature Operation	6 Months Ended
	Jun. 30, 2023
Utour Pte Ltd [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Singapore
Nature of operation	Investment holding company
WeTrade Information Technology Limited (“WITL”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Hong Kong
Nature of operation	Investment holding company
Yueshang Information Technology (Beijing) Co., Ltd. (“YITB”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	P.R.C.
Nature of operation	Providing of social e-commerce services, technical system support and services
WeTrade Digital Technology (“Beijing”) Co Limited [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	P.R.C
Nature of operation	Providing of social e-commerce services, technical system support and services
Yueshang Technology Group (Zhuhai Hengqin) Limited [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	P.R.C
Nature of operation	Providing of social e-commerce services, technical system support and services
Tibet Xiaoshang Technology Co Limited (“Tibet Xiaoshang”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	P.R.C
Nature of operation	Providing of social e-commerce services, technical system support and services.
Shanghai Yueshang Information Technology Limited [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	P.R.C
Nature of operation	Providing of social e-commerce services, technical system support and services.

Summary of Significant Accounting Policies (Details) - Schedule of Exchange Rate - ¥ / shares	Jun. 30, 2023	Dec. 31, 2022
Schedule of Exchange Rate [Abstract]
RMB: US$ exchange rate	¥ 7.25	¥ 6.9

Summary of Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives of Assets	Jun. 30, 2023
Office Equipment [Member]
Summary of Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives of Assets [Line Items]
Property and Equipment Estimated Useful Lives	3 years
Leasehold Improvement [Member]
Summary of Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives of Assets [Line Items]
Property and Equipment Estimated Useful Lives	5 years

Summary of Significant Accounting Policies (Details) - Schedule of Potentially Diluted Shares - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Schedule of Potentially Diluted Shares [Abstract]
Net (Loss)/ Profit	$ 26,079	$ (452,139)	$ (958,761)	$ 140,177
Weighted-average common shares outstanding - basic	149,770,976	155,826,842	172,526,771	231,052,498
Net (Loss)/ Profit per share, basic			$ 0	$ 0

Summary of Significant Accounting Policies (Details) - Schedule of Potentially Diluted Shares (Parentheticals) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Schedule of Potentially Diluted Shares [Abstract]
Weighted-average common shares outstanding - diluted	149,770,976	155,826,842	172,526,771	231,052,498
Net (Loss)/ Profit per share, diluted			$ 0.00	$ 0.00

Revenue (Details) - USD ($)	3 Months Ended		6 Months Ended
Revenue (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue (Details) [Line Items]
Revenues (in Dollars)		$ 1,451,459	$ 603,343	$ 3,590,411
Minimum [Member]
Revenue (Details) [Line Items]
Total Gross Merchandise, percentage			2.00%
Maximum [Member]
Revenue (Details) [Line Items]
Total Gross Merchandise, percentage			3.50%

Revenue (Details) - Schedule of System Services Fees are Collected From Five Customers - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Non-related parties:
Total	$ 17,166,321	$ 107,714,046
Related party:
Related party	18,272,668	116,466,550
Customer I [Member]
Non-related parties:
Non-related parties	3,755,738	53,496,041
Customer II [Member]
Non-related parties:
Non-related parties	4,962,341	20,811,155
Customer III [Member]
Non-related parties:
Non-related parties	4,490,593	14,094,841
Customer IV [Member]
Non-related parties:
Non-related parties	3,957,649	19,312,009
Customer V [Member]
Related party:
Related party	$ 1,106,347	$ 8,732,504

Cash and Cash Equivalents (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Cash and Cash Equivalents [Abstract]
Cash in bank	$ 20,004,914	$ 20,025,480

Cash and Cash Equivalents (Details) - Schedule of Held Cash in Bank in the Amount - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Cash and Cash Equivalents [Line Items]
Bank Deposits	$ 20,004,914	$ 20,025,480
Bank Deposits-USA [Member]
Cash and Cash Equivalents [Line Items]
Bank Deposits	3,250	22,926
Bank Deposits- Outside USA [Member]
Cash and Cash Equivalents [Line Items]
Bank Deposits	$ 20,001,664	$ 20,002,554

Intangible Asset, Net (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Intangible Asset, Net (Details) [Line Items]
Estimated useful life	5 years
Amortization expense for intangible assets	$ 4,510
Software Development [Member]
Intangible Asset, Net (Details) [Line Items]
Estimated useful life	5 years	5 years

Intangible Asset, Net (Details) - Schedule of Intangible Asset - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Intangible assets:
Intangible assets, Gross carrying amount	$ 57,143	$ 57,143
Intangible assets, Accumulated amortization	(41,086)	(36,576)
Intangible assets, Net carrying amount	$ 18,449	22,959
Intangible assets, useful lives	5 years
Software development [Member]
Intangible assets:
Intangible assets, Gross carrying amount	$ 57,143	57,143
Intangible assets, Accumulated amortization	(41,086)	(36,576)
Intangible assets, Net carrying amount	$ 16,057	$ 20,567
Intangible assets, useful lives	5 years	5 years
Foreign currency translation adjustment [Member]
Intangible assets:
Intangible assets, Gross carrying amount
Intangible assets, Accumulated amortization
Intangible assets, Net carrying amount	$ 2,392	$ 2,392

Intangible Asset, Net (Details) - Schedule of Intangible Assets Amortization Expenses	Jun. 30, 2023 USD ($)
Schedule of Intangible Assets Amortization Expenses [Abstract]
Remaining 2023	$ 2,871
2024	$ 15,578

Property and Equipment, Net (Details) - USD ($)	6 Months Ended
Property and Equipment, Net (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022
Property and Equipment, Net (Details) [Line Items]
Depreciation expenses of office equipment		$ 24,952
Amortisation expenses		$ 3,546
Office Equipment [Member]
Property and Equipment, Net (Details) [Line Items]
Depreciation expenses of office equipment	$ 182,924
Office Renovation [Member]
Property and Equipment, Net (Details) [Line Items]
Amortisation expenses	$ 134,789

Property and Equipment, Net (Details) - Schedule of Property and Equipment - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Property and equipment:
Property and equipment, gross	$ 971,076	$ 971,076
Less: Accumulated depreciation	(232,048)	(49,124)
Property and equipment, net	739,028	921,952
Office equipment [Member]
Property and equipment:
Property and equipment, gross	724,433	724,433
Leasehold improvement [Member]
Property and equipment:
Property and equipment, gross	$ 246,643	$ 246,643

Property and Equipment, Net (Details) - Schedule of Depreciation Expenses of Office Equipment - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Schedule of Depreciation Expenses of Office Equipment [Abstract]
Amortised expenses	$ 995,775	$ 995,775
Less: Accumulated amortization	(301,581)	(166,792)
Amortised expenses, net	$ 694,194	$ 828,983

Account Receivables, Net (Details) - Schedule of Account Receivable - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Schedule of Account Receivable [Abstract]
Account Receivable- Non related parties		$ 6,174,055
Account Receivable- Related parties		549,606
Total accounts receivables		$ 6,723,661

Prepayments (Details)	6 Months Ended
Prepayments (Details)	Jun. 30, 2023 USD ($)
Prepayments [Abstract]
Software development fee	$ 1,926,838
System development prepayment	$ 10,000,000

Prepayments (Details) - Schedule of Prepayments - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Prepayments (Details) - Schedule of Prepayments [Line Items]
Prepayments	$ 12,479,485	$ 12,413,215
Software development fee- Current [Member]
Prepayments (Details) - Schedule of Prepayments [Line Items]
Prepayments	1,926,838	1,860,568
Software development fee- Non current [Member]
Prepayments (Details) - Schedule of Prepayments [Line Items]
Prepayments	10,000,000	10,000,000
Block chain software and annual fee [Member]
Prepayments (Details) - Schedule of Prepayments [Line Items]
Prepayments	$ 552,647	$ 552,647

Prepayments (Details) - Schedule of Prepayments- Related Parties - USD ($)	Jun. 30, 2023	Dec. 31, 2022
System Development Of Y CLoud System Upgrade Software Development [Member]
Prepayments (Details) - Schedule of Prepayments- Related Parties [Line Items]
Software development fee- Current	$ 977,500	$ 1,914,516

Loan Receivables (Details) - Schedule of Loan Receivables - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Schedule of Loan Receivables [Abstract]
Loan receivables	$ 7,220,242	$ 1,614,841

Loan Receivables (Details) - Schedule of Accrued Interest and Principal Amount - Accounts Receivable [Member] - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Principal Transaction Revenue [Line Items]
Principal amount	$ 7,220,242	$ 1,614,841
Accrued interest
Total accrued interest and principal amount	7,220,242	1,614,841
Borrower I [Member]
Principal Transaction Revenue [Line Items]
Principal amount	289,208	1,614,841
Borrower II [Member]
Principal Transaction Revenue [Line Items]
Principal amount	$ 6,931,034

Other Receivables (Details) - Schedule of Other Receivables-Current - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Schedule of Other Receivables-Current [Abstract]
Advances to staff	$ 59,180	$ 47,941

Other Receivables (Details) - Schedule of Other Receivables-Non-Current - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Schedule of Other Receivables-Non-Current [Abstract]
Rental deposit	$ 228,104	$ 240,202

Amount Due to Related Parties (Details)	6 Months Ended
Amount Due to Related Parties (Details)	Jun. 30, 2023 USD ($)
Amount Due to Related Parties (Details) [Line Items]
Professional expenses	$ 1,419,503
Director fees	854,000
Dai Zheng [Member]
Amount Due to Related Parties (Details) [Line Items]
Advance amount	427,731
Li Zhuo [Member]
Amount Due to Related Parties (Details) [Line Items]
Advance amount	42,000
Che Kean Tat [Member]
Amount Due to Related Parties (Details) [Line Items]
Advance amount	760,537
Liu Pijun [Member]
Amount Due to Related Parties (Details) [Line Items]
Office rental advance	$ 189,235

Amount Due to Related Parties (Details) - Schedule of Due to Related Parties - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Schedule of Due to Related Parties [Abstract]
Related parties payable	$ 1,419,503	$ 521,296
Director fee payable	854,000	770,000
Amount due to related parties	$ 2,273,503	$ 1,291,296

Accrued Expenses (Details) - Schedule of Accrued Expenses - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Accrued Payroll [Member]
Accrued Expenses (Details) - Schedule of Accrued Expenses [Line Items]
Accrued payroll	$ 262,256	$ 298,595

Other Payables (Details) - Schedule of Payables of Securities Account Set Up Fee and Related Documentation Expenses - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Other Payables (Details) - Schedule of Payables of Securities Account Set Up Fee and Related Documentation Expenses [Line Items]
Tax (receivable)/ payables	$ (42,549)	$ 130,717
Other payables total	792,674	2,455,905
Y-Cloud System upgrade and iteration payables [Member]
Other Payables (Details) - Schedule of Payables of Securities Account Set Up Fee and Related Documentation Expenses [Line Items]
Other payables total	349,088	1,839,053
Security account set up fee-Staff [Member]
Other Payables (Details) - Schedule of Payables of Securities Account Set Up Fee and Related Documentation Expenses [Line Items]
Other payables total	$ 486,135	$ 486,135

Discontinued Operations (Details) - USD ($)		3 Months Ended
Discontinued Operations (Details) - USD ($)	Jan. 16, 2023	Jun. 30, 2023	Jun. 30, 2022
Discontinued Operations [Member]
Discontinued Operations (Details) [Line Items]
Loss on disposal	$ 3,928	$ (3,928)	$ (21,958)

Discontinued Operations (Details) - Schedule of Discontinued Operations - Discontinued Operations - USD ($)		3 Months Ended
	Jan. 16, 2023	Jun. 30, 2023	Jun. 30, 2022
Revenue:
Service revenue			$ 254,522
Cost of revenue		(3)	(111,252)
Gross loss		(3)	143,270
Operating expenses:
General and Administrative		3,925	(165,228)
Operations Loss		(3,928)
Other (expenses)/ revenue
Loss from discontinued operations before income tax		(3,928)	(21,958)
Income tax expense
Loss from discontinued operation after tax	$ 3,928	(3,928)	(21,958)
Loss on disposal of discontinued operation		(1,236,377)	(1,460,180)
LOSS FROM DISCONTINUED OPERATION		$ (1,240,305)	$ (1,482,138)

Discontinued Operations (Details) - Schedule of Assets and Liabilities Related to Discontinued Operations - Discontinued Operations - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 10	$ 13
Accounts receivables	655,088	654,139
Prepayments	748,802	747,717
Property and equipment, net	66,673	70,493
Intangible asset	227	230
Other receivables	2,905	2,899
Total assets related to discontinued operations	1,473,705	1,475,491
Account payables	194,462	194,179
Other payables	38,938	38,881
Total liabilities related to discontinued operations	$ 233,400	$ 233,060

Shareholders’ Equity (Details)				1 Months Ended
Shareholders’ Equity (Details)	Jun. 09, 2023 $ / shares shares	Apr. 13, 2022 shares	Jul. 10, 2020 $ / shares shares	Jul. 22, 2022 USD ($) shares	Sep. 21, 2020 $ / shares shares	Sep. 15, 2020 shares	Feb. 29, 2020 $ / shares shares	Jun. 30, 2023 shares	Dec. 31, 2022 shares	Jul. 21, 2022 USD ($) $ / shares shares	Jun. 30, 2022 shares	Dec. 31, 2020 shares	Dec. 31, 2019 shares	Sep. 03, 2019 shares	Mar. 29, 2019 $ / shares shares
Shareholders’ Equity (Details) [Line Items]
Shares issued								1,054,530	195,057,503
Total shares														74,000
Per share (in Dollars per share) \| $ / shares			$ 3							$ 4
Common stock, shares outstanding								1,054,530	195,057,503
New shareholders			2
Shares outstanding			101,766,666
Gross proceeds (in Dollars) \| $										$ 40,000,000
Net proceeds (in Dollars) \| $										37,057,176
Total offering cost (in Dollars) \| $										$ 2,942,824
Shares issued										195,032,503
Fair value (in Dollars) \| $				$ 477,500
Reverse stock split	1 for 185
Par value unchanged (in Dollars per share) \| $ / shares	$ 0
Share Exchange Agreement [Member]
Shareholders’ Equity (Details) [Line Items]
Common stock, shares outstanding													100,074,000
Cancellation Shares		120,418,995
Common Stock [Member]
Shareholders’ Equity (Details) [Line Items]
Common stock, shares outstanding				195,057,503
Maximum [Member]
Shareholders’ Equity (Details) [Line Items]
Common stock decreased shares	195,057,503
Maximum [Member] \| Share Exchange Agreement [Member]
Shareholders’ Equity (Details) [Line Items]
Common stock, shares outstanding											305,451,498
Minimum [Member]
Shareholders’ Equity (Details) [Line Items]
Increased common stock shares						101,766,666
Common stock decreased shares	1,054,530
Minimum [Member] \| Share Exchange Agreement [Member]
Shareholders’ Equity (Details) [Line Items]
Common stock, shares outstanding											185,032,503
July 10 2022 [Member]
Shareholders’ Equity (Details) [Line Items]
Common stock shares issued			26,000	25,000											100,000,000
IPO [Member]
Shareholders’ Equity (Details) [Line Items]
Shares issued										10,000,000
Certificate Of Amendment [Member] \| Maximum [Member]
Shareholders’ Equity (Details) [Line Items]
Stock split						3 for 1 forward stock split
Increased common stock shares						305,299,998
Shareholders [Member]
Shareholders’ Equity (Details) [Line Items]
Per share (in Dollars per share) \| $ / shares							$ 3
Common stock, shares outstanding												305,451,498
Shares issued					151,500		1,666,666
New shareholders					303		2
Per share value (in Dollars per share) \| $ / shares					$ 5
Founders [Member]
Shareholders’ Equity (Details) [Line Items]
Per share (in Dollars per share) \| $ / shares															$ 3

Income Taxes (Details)	6 Months Ended
Income Taxes (Details)	Jun. 30, 2023
Income Taxes (Details) [Line Items]
Profits tax rate	50.00%
Minimum [Member]
Income Taxes (Details) [Line Items]
Major operations percentage	15.00%
Maximum [Member]
Income Taxes (Details) [Line Items]
Major operations percentage	25.00%
Singapore [Member]
Income Taxes (Details) [Line Items]
Profits tax rate	17.00%
Hong Kong [Member]
Income Taxes (Details) [Line Items]
Profits tax rate	16.50%