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Contract Assets, Net and Liabilities
 6 Months Ended
Jun. 30, 2026
Contract Assets, Net and Liabilities [Abstract]  
CONTRACT ASSETS, NET AND LIABILITIES

NOTE 7 – CONTRACT ASSETS, NET AND LIABILITIES

 

Contract assets is presented net of allowance for expected credit loss. 

 

    As of
December 31,		     As of
June 30,		  
    2025     2026  
Contract assets   $ 466,917     $ 733,528  
Less: allowance for expected credit loss     (1,200 )     (1,886 )
Total   $ 465,717     $ 731,642  

 

The movement of contract assets is as follows:

 

    As of
December 31,		     As of
June 30,		  
    2025     2026  
             
Balance at beginning of the year/period   $ 1,060,590     $ 466,917  
Additions     53,151,084       26,533,591  
Reclassified to receivables due to billings     (53,744,757 )     (26,266,980 )
Total   $ 466,917     $ 733,528  

 

The movement of allowances for expected credit loss is as follow:

 

    As of
December 31,		     As of
June 30,		  
    2025     2026  
             
Balance at beginning of the year/period   $ (2,919 )   $ (1,200 )
Reversal (provision)     1,719       (686 )
Total   $ (1,200 )   $ (1,886 )

 

Contract liabilities are recognized when the Company received prepayments from customers. Contract liabilities will be recognized as revenue when promised services are provided. Contract liabilities were $25 and $275 as of December 31, 2025 and June 30, 2026, respectively.