Prepayments, Deposits and Other Assets, Net (Tables)

6 Months Ended

Jun. 30, 2025

Prepayments, Deposits and Other Assets, Net [Abstract]

Schedule of Prepayments, Deposits and Other Assets, Net

Prepayments, deposits and other assets, net consisted of the following:

	June 30, 2025			December 31, 2024
Security deposits (1)	$	635,929		$	631,211
Advances to suppliers		1,726,396			1,659,609
Advances to employees		83,211			129,971
Prepaid expense		561,737			529,751
Antique art pieces (2)		36,970,600			36,970,600
Deferred financing cost		480,000			-
Others		4,188			19,286
Total		40,462,061			39,940,428
Less: Long term portion		(37,554,060	)		(37,689,697	)
Allowance for credit losses		(558,634	)		(548,248	)
Prepayments, deposits and other assets – current portion	$	2,349,367		$	1,702,483

(1) Security deposits mainly represent contract fulfillment deposits required by customer for specific projects, rent deposits etc.

(2) On January 5, 2023, the Group received 20 antique art pieces to settle $59,651,975 (RMB411,157,212) from a debt extinguish agreement. On May 1, 2024, the Group settled 7 antique art pieces as a purchase consideration to acquire Hongchuangxin. The fair value of the remaining antique art pieces was $36,970,600 as of June 30, 2025.

Schedule of Allowance for Credit Losses

Movement of allowance for credit losses is as follows:

	For the Six Months Ended June 30, 2025			For the Year Ended December 31, 2024
Beginning balance	$	548,248		$	281,694
Provision for credit losses		127,701			9,065,372
Written-off		(127,701	)		(8,787,174	)
Foreign currency translation adjustments		10,386			(11,644	)
Ending balance	$	558,634		$	548,248