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INTERIM CONSOLIDATED BALANCE SHEETS
Jun. 30, 2025
USD ($)
Dec. 31, 2024
USD ($)
Current assets:    
Cash and cash equivalents $ 177,098 $ 532,605
Restricted cash 245,277 792,204
Accounts receivable, net 13,451,506 12,037,136
Accounts receivable, related parties 0 1,314,332
Inventories 8,909,593 8,836,815
Advances to suppliers 9,111,518 9,437,740
Other receivables 184,173 139,505
Other current assets 3,824,893  
Total current assets 35,904,058 33,090,337
Property, plant and equipment, net 3,937,116 2,157,214
Intangible assets, net 2,599,087 61,972
Right-of-use assets 6,233,728 6,457,903
Deferred tax assets 102,907 100,994
Long-term investment 418,784 410,998
Other non-current assets 0 3,753,785
TOTAL ASSETS 49,195,680 46,033,203
Current liabilities:    
Short-term borrowings 4,501,956 1,055,828
Accounts payable 5,597,633 8,335,266
Accrued expenses and other current liabilities 1,503,114 822,014
Advances from customers 1,302,121 628,067
Long-term loans – current portion 616,543 161,529
Tax payable 1,162,826 1,021,395
Total current liabilities: 16,747,947 15,534,264
Long-term loans 6,049,100 3,913,204
TOTAL LIABILITIES 22,797,047 19,447,468
COMMITMENTS AND CONTINGENCIES 0 0
Shareholders’ Equity:    
Additional paid-in capital 18,641,264 18,641,264
Statutory reserve 1,123,204 1,123,204
Retained earnings 7,544,550 8,061,204
Accumulated other comprehensive loss (915,444) (1,244,996)
Total Shareholders’ equity 26,398,633 26,585,735
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 49,195,680 46,033,203
Class A Ordinary Shares    
Shareholders’ Equity:    
Ordinary shares value 4,959 4,959
Class B Ordinary Shares    
Shareholders’ Equity:    
Ordinary shares value 100 100
Related Party    
Current liabilities:    
Due to related parties $ 2,063,754 $ 3,510,165