PREPAYMENT AND OTHER CURRENT ASSETS (Tables)

12 Months Ended

Dec. 31, 2024

PREPAYMENT AND OTHER CURRENT ASSETS [Abstract]

Prepayment and Other Current Assets

Prepayment and other current assets consisted of the following:

	December 31, 2024			December 31, 2023
Advance to suppliers	$	13,435,558		$	12,579,554
Deductible input value added tax		5,284,726			6,238,040
Receivable from a third party (1)		-			1,000,000
Others		390,617			573,556
Total prepayment and other current assets		19,110,901			20,391,150
Less: prepayment and other current assets, held for discontinued operations		(1,035,486	)		(1,073,346	)
Prepayment and other current assets, held for continuing operations	$	18,075,415		$	19,317,804

(1) Receivable from a third party represented the redemption receivable of equity investment in Micro Money Fund SPC. The Company redeemed the investment of $1,000,000 in November 2023 and received the payment in January 2024.