Accounting Policies, by Policy (Policies) | 6 Months Ended |
Jun. 30, 2024 |
Basis of Presentation and Summary of Significant Accounting Policies [Abstract] | |
Basis of Accounting and Presentation | Basis of Accounting and Presentation - |
Use of Estimates | Use of Estimates - |
Leases | Leases- |
Principles of Consolidation | Principles of Consolidation- Company Date of Place of Percentage of Principal activities Subsidiaries: Pony HK April 28, 2016 Hong Kong, PRC 100 % Car services Universe Travel February 2, 2019 Mainland, PRC 100 % Car services and Technological development and operation service |
Cash and Cash Equivalents | Cash and Cash Equivalents 2024 and December 31, 2023. |
Accounts Receivable | Accounts Receivable As of June 30, 2024 and December 31, 2023, accounts receivable were $ The 33,89% The Company had four major customers for the six months ended June 30, 2023: Shenzhen Eryuechuer Culture & Technology., Ltd, accounted for 24.88% of the total revenue. Shenzhen Shangjia Electronic Technology., Ltd and Shenzhen Zhongke Hengjin each accounted separately for 10.73% of the revenue and in the aggregate 41.46% of the revenue Hong Kong Financial Services Institute accounted 11.21% of the total revenue. The Company determines the adequacy of reserves for doubtful accounts based on individual account analysis and historical collections. The Company establishes a provision for doubtful receivables when there is objective evidence that the Company may not be able to collect amounts due. The allowance is based on management’s best estimates of specific losses on individual exposures, as well as a provision on historical trends of collections. The provision is recorded against accounts receivable balances, with a corresponding charge recorded in the consolidated |
Revenue Recognition | Revenue Recognition Car service The Company currently provides car services to individual and group travelers. It currently offers carpooling, airport pick-up and drop-off, and personal driver services for travelers between Guangdong Province and Hong Kong. It collaborates with car fleet companies and charges a service fee by matching the traveler and the driver. Redefining the user experience, the Company aims to provide its users with comprehensive and convenient service offerings and to become a one-stop travel booking resource for travelers. When the traveler selects and initiates a car service request, an estimated service fee is displayed and the traveler can further decide whether to place the service request or not. Once the traveler places the ride service request and the Company accepts the service request, a car service agreement is entered into between the traveler and the Company. Upon completion of the car services, the Company recognizes ride hailing services revenues on a gross basis. Technological development and operation service Revenues from technological development service, including information technology system design and cloud platform development, are recognized monthly by a fixed amount based on the contract. From time to time, the Company enters into arrangements to provide technological support and maintenance service applications to its customers. The Company’s efforts are expended evenly throughout the service period. The revenues for the technological support and maintenance services are recognized over the support and maintenance services period, usually from 3 months to one year. The Company’s contracts have a single performance obligation and are primarily on a fixed-price basis. There were no significant returns, refund and other similar obliga |
Cost of revenue | Cost of revenue and the service fee paid to third party. |
Income Taxes | Income Taxes |
Value added tax (“VAT”) | Value added tax (“VAT”) |
Foreign Currency Translation | Foreign Currency Translation The exchange rates used to translate amounts in HK$ and RMB into USD for the purposes of preparing the financial statements were as follows: June 30, 2024 Balance sheet HK$7.81 to US $1.00 RMB 7.27 to US $1.00 Statement of operation and other comprehensive income HK$7.82 to US $1.00 RMB 7.24 to US $1.00 December 31, 2023 Balance sheet HK$7.81 to US $1.00 RMB 7.09 to US $1.00 June 30, 2023 Statement of operation and other comprehensive income HK$7.84 to US $1.00 RMB 6.93 to US $1.00 |
Recent accounting pronouncements | Recent accounting pronouncements The Company does not believe that any recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the unaudited condensed financial position, statements of operations and cash flows. |