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Consolidated Statements of Income and Comprehensive Income - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues      
Total revenues $ 96,909,642 $ 97,098,915 $ 103,346,341
Cost of revenues 63,609,840 63,900,597 65,247,864
Gross profit 33,299,802 33,198,318 38,098,477
Operating expenses      
Selling 6,637,689 7,295,460 7,109,524
General and administrative 7,784,753 6,540,944 12,468,551
Research and development 3,456,098 2,753,315 2,962,904
Written-off Tai He deposit 4,755,536
Provision for credit losses 1,109,347 1,933,661
Total operating expenses 18,987,887 18,523,380 27,296,515
Income from operations 14,311,915 14,674,938 10,801,962
Other (income) expense:      
Change in fair value in convertible debt 678,297
Interest expense 1,506,700 250,781 194,667
Interest income (1,014,402) (873,439) (63,725)
Currency exchange loss (gain) (380,254) 153,440 (273,432)
Other (income) expense, net (104,557) 95,382 53,205
Total other (income) expenses 685,784 (373,836) (89,285)
Income before income tax provision 13,626,131 15,048,774 10,891,247
Income taxes expense 2,788,824 3,457,733 4,713,543
Net income 10,837,307 11,591,041 6,177,704
Net loss attributable to non-controlling interests (6,282) (34,376) (65,265)
Net income attributable to shareholders 10,843,589 11,625,417 6,242,969
Foreign currency translation adjustment (4,271,912) (3,432,299) (9,155,028)
Comprehensive income (loss) 6,565,395 8,158,742 (2,977,324)
Comprehensive loss attributable to non-controlling interests (20,015) (50,161) (79,167)
Comprehensive income (loss) attributable to shareholders $ 6,585,410 $ 8,208,903 $ (2,898,157)
Weighted average number of ordinary shares - basic (in Shares) 27,371,707 23,940,000 23,411,068
Weighted average number of ordinary shares - diluted (in Shares) 27,371,707 23,940,000 23,411,068
Basic net income per ordinary share (in Dollars per share) $ 0.4 $ 0.49 $ 0.27
Third party sales      
Revenues      
Total revenues $ 96,141,089 $ 96,682,474 $ 103,317,145
Related party sales      
Revenues      
Total revenues $ 768,553 $ 416,441 $ 29,196