Loan Receivable, Net

6 Months Ended

Jun. 30, 2026

Loan Receivable [Abstract]

LOAN RECEIVABLE, NET

NOTE 8 — LOAN RECEIVABLE, NET

In December 2025, the Company entered into a loan agreement to lend $2,000,000 to an independent third party for business collaboration purposes. The loan is unsecured, bears interest at a rate of 6% per annum, and has an initial term of three months. The loan will automatically renew for successive additional three-month terms unless either party provides written notice of non-renewal.

Interest income of nil and $60,000 from this loan receivable was recognized for the six months ended June 30, 2025 and 2026, respectively.

In June 2026, the Company entered into a loan agreement to lend $83,076 to an independent third party for business collaboration purposes. The loan is unsecured, bears interest at a rate of 4.9% per annum, with total interest expected to be approximately $4,103. The principal is repayable in 11 monthly installments of $6,923, with the remaining balance and accrued interest payable in the 12^th installment.

Interest income of nil and $67 from this loan receivable was recognized for the six months ended June 30, 2025 and 2026, respectively.

Loan receivable is presented net of allowance for expected credit losses:

	As of December 31,			As of June 30,
	2025			2026
Loan receivable, unsecured
—Principal	$	2,000,000		$	2,083,076
—Interest receivables		10,000			10,067
	$	2,010,000		$	2,093,143
Less: allowance for expected credit losses		(13,792	)		(14,362	)
Total		1,996,208			2,078,781

The movement of allowance for expected credit losses is as follows:

	As of December 31,			As of June 30,
	2025			2026
Balance at beginning of the year/period	$	—		$	(13,792	)
Provision		(13,792	)		(570	)
Total	$	(13,792	)	$	(14,362	)