Long-Term Prepaid Expenses

12 Months Ended

Dec. 31, 2025

Long-Term Prepaid Expenses [Abstract]

LONG-TERM PREPAID EXPENSES

9. LONG-TERM PREPAID EXPENSES

In November 2022, the Company entered into an agreement with a third party. The agreement conveys the Company the right to use a piece of designated land (“Land Use Rights”) and the right to use certain public infrastructures within the industrial zones, for a period of 45 years maturing in October 2067. Pursuant to the agreement, the third party charged a total fee of $1.4 million for the Land Use Rights, which was accounted for as an operating lease right-of-use asset (Note 10), and a total fee of $8.2 million for the public infrastructures, respectively. As of December 31, 2023, the Company fully paid the service fees.

Because these public infrastructures were shared among all lessees in the industrial zone, the Company has no rights to obtain substantially all of the economic benefits from this public infrastructure. The Company recorded the total public infrastructure service fee as long-term prepaid expenses, and amortized the long-term prepaid expenses over 45 years in straight-line method.

Long-term prepaid expenses were comprised of the following:

	December 31, 2025			December 31, 2024
Prepaid expenses for public infrastructure	$	7,351,489		$	7,583,098
Less: accumulated amortization		(517,327	)		(365,112	)
Total	$	6,834,162		$	7,217,986

For the years ended December 31, 2025, 2024 and 2023, the amortization expenses for long-term prepaid expenses are $165,169, $171,419 and $180,192, respectively.