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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income $ 37,152,532 $ 40,500,319 $ 9,889,155
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation of property and equipment 36,551,190 23,235,143 2,607,276
Loss from disposal of property and equipment 13,511
Amortization of right of use assets 3,042,354 289,198 114,614
Loss from early termination of lease agreement 29,186
Amortization of long-term prepaid expenses 165,169 171,419 180,192
Share-based compensation to employees 4,703,760
Share-based compensation to nonemployees 9,000,737 609,000
Changes in fair value of contingent consideration payable 1,341,794 (35,100,000)
Inventory write down 2,862,847 2,536,668
Expense of offering cost allocated to contingent consideration payable 359,000
Deferred tax benefits (178,107)
Changes in operating assets and liabilities:      
Accounts receivable (4,583,417) (6,138,919)
Accounts receivable – related parties 11,179,845 (11,984,896)
Prepayments (25,030,650) (254,223) (152,023)
Prepayments – a related party (72,264) 23,635,352 (24,845,082)
Inventories (63,359,435) 15,882,337 (40,728,301)
Other current assets (1,559,891) (1,427,492) (87,263)
Other non-current assets (94,770) (171,353) (22,655)
Accounts payable 6,340,244 3,034,220 2,079,725
Accounts payable – a related party 3,269,718
Contract liabilities 24,038,608 3,183,138 540,481
Contract liabilities – related parties 60,250,424 (7,813,425) 29,340,608
Income tax payable 14,605,229 781,238
Due to related parties 1,281,905 (1,593,064) 3,267,670
Other payable and accrued expenses 11,951,150 (2,769,631) 5,404,730
Lease liabilities 128,959 (486,475) (131,655)
Net cash provided by (used in) operating activities 132,987,931 46,506,740 (12,529,017)
Cash flows from investing activities:      
Purchase of property and equipment (91,752,076) (42,501,403) (114,113,439)
Purchase of property and equipment from a related party (1,542,768) (126,272)
Payment for acquisition of non-controlling interests (6,650,000)
Net cash used in investing activities (98,402,076) (44,044,171) (114,239,711)
Cash flows from financing activities:      
Capital injection from shareholders 4,000,000 10,000 42,360,581
Proceeds from private placement 6,000,100
Proceeds from bank borrowings 56,678,373 65,663,820 12,034,734
Repayment of bank borrowings (57,238,753) (39,546,161)
Proceeds from borrowings from a related party 12,000,000 5,000,000 93,571,624
Repayment of borrowings to a related party (6,000,000) (38,093,104)
Deemed distribution through purchase of trademark (340,000)
Payments of offering costs (1,124,374) (1,817,310)
Net cash provided by (used in) financing activities 9,099,620 (2,089,719) 146,149,629
Effect of exchange rate changes on cash (1,974,838) (2,220,954) (2,448,856)
Net (decrease) increase in cash 41,710,637 (1,848,104) 16,932,045
Cash and restricted cash at beginning of year 17,149,389 18,997,493 2,065,448
Cash and restricted cash at end of year 58,860,026 17,149,389 18,997,493
Supplemental cash flow information      
Cash paid for interest expense 1,954,648 3,316,100
Cash paid for income tax 943,119
Noncash investing and financing activities      
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 1,916,346 3,636,453 473,014
Issuance of ordinary shares to settle of contingent consideration payable 5,958,794
Payables related to purchase of property and equipment 37,658,234 819,599 34,743,940
Payment of offering costs by a related party 81,025
Accrual of offering costs 892,976
Transfer of equity interest of a subsidiary in exchange for asset acquisition in Solar Texas 1,253,702
Reconciliation of cash and restricted cash to the consolidated balance sheets      
Cash 51,634,374 13,654,445 18,035,405
Restricted cash 714,245 1,878,267 82,195
Restricted cash, non-current 6,511,407 1,616,677 879,893
Reconciliation of cash and restricted cash $ 58,860,026 $ 17,149,389 $ 18,997,493