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Unaudited Interim Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Dec. 31, 2023
Current assets      
Cash and cash equivalents $ 6,985,841 $ 8,164,080 $ 10,769,662
Restricted cash 1,538,462 2,192,015 2,931,357
Accounts receivable, net 5,323,836 12,802,626 20,136,692
Contract assets, net 397,729 1,057,671 984,135
Prepayments and other current assets, net 68,911 67,822 91,749
Total current assets 14,368,488 24,396,402 35,042,807
Non-current assets      
Property, plant, and equipment, net 113,407 127,386 184,903
Right-of-use assets 78,782 130,134 59,245
Prepayments for the acquisition of office premises 1,014,208  
Total non-current assets 1,206,397 257,520 244,148
TOTAL ASSETS 15,574,885 24,653,922 35,286,955
Current Liabilities      
Accounts payable 3,977,765 11,307,340 18,171,694
Contract liabilities 488 1,525 4,015
Other payables and accrued liabilities 283,548 445,333 851,012
Provisions for compensation and penalty 1,574,240 1,574,240
Tax payables 17,465 17,465 737,196
Lease liabilities – current 79,342 101,947 47,689
Dividend payables 54,821 54,821 28,154
Total current liabilities 4,533,393 13,831,056 22,357,695
Non-current liability      
Lease liabilities – non-current 29,378 17,227
Total non-current liability 29,378 17,227
TOTAL LIABILITIES 4,533,393 13,860,434 22,374,922
EQUITY      
Ordinary shares value [1] 2,598 2,598 2,000
Additional paid-in capital 11,238,731 10,575,529 7,875,540
Retained earnings (Accumulated losses) (283,531) 133,277 4,960,116
Accumulated other comprehensive loss (41,439) (41,439) (41,439)
Total shareholders’ equity 10,916,359 10,669,965 12,796,217
Non-controlling interest 125,133 123,523 115,816
TOTAL EQUITY 11,041,492 10,793,488 12,912,033
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 15,574,885 24,653,922 35,286,955
Related Party      
Current assets      
Accounts receivable – related parties 53,709 112,188 11,885
Amount due from a related party, net   117,327
Current Liabilities      
Accounts payable – related parties 74,964 221,098 474,161
Amounts due to related parties $ 45,000 107,287 469,534
Perviously Reported      
Current assets      
Cash and cash equivalents   8,164,080  
Restricted cash   2,192,015  
Accounts receivable, net   12,802,626  
Contract assets, net   1,057,671  
Prepayments and other current assets, net   67,822  
Total current assets   24,396,402  
Non-current assets      
Property, plant, and equipment, net   127,386  
Right-of-use assets   130,134  
Total non-current assets   257,520  
TOTAL ASSETS   24,653,922  
Current Liabilities      
Accounts payable   11,307,340  
Contract liabilities   1,525  
Other payables and accrued liabilities   445,333  
Provisions for compensation and penalty   1,574,240  
Tax payables   17,465  
Lease liabilities – current   101,947  
Dividend payables   54,821  
Total current liabilities   13,831,056  
Non-current liability      
Lease liabilities – non-current   29,378  
Total non-current liability   29,378  
TOTAL LIABILITIES   13,860,434  
EQUITY      
Ordinary shares value [1]   2,598  
Additional paid-in capital   10,575,529  
Retained earnings (Accumulated losses)   133,277  
Accumulated other comprehensive loss   (41,439)  
Total shareholders’ equity   10,669,965  
Non-controlling interest   123,523  
TOTAL EQUITY   10,793,488 $ 12,912,033
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY   24,653,922  
Perviously Reported | Related Party      
Current assets      
Accounts receivable – related parties   112,188  
Amount due from a related party, net    
Current Liabilities      
Accounts payable – related parties   221,098  
Amounts due to related parties   $ 107,287  
[1] The share data has been retroactively restated to reflect the current capital structure of the Company.