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Unaudited Interim Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 6,594,524 $ 8,940,871
Restricted cash 769,263 2,198,786
Accounts receivable, net 8,462,413 9,454,474
Contract assets, net 731,642 465,717
Loan receivable, net 2,078,781 1,996,208
Marketable equity securities 7,281,188 4,980,098
Prepayments and other current assets, net 169,018 256,464
Total current assets 26,610,799 30,110,432
Non-current assets    
Property, plant and equipment, net 4,376,114 4,320,685
Right-of-use assets 53,193 94,573
Total non-current assets 4,429,307 4,415,258
TOTAL ASSETS 31,040,106 34,525,690
Current liabilities    
Accounts payable 6,724,438 10,292,377
Contract liabilities 275 25
Other payables and accrued liabilities 169,282 502,419
Lease liabilities – current 28,395 56,266
Borrowings 4,172,349 4,737,524
Warrant liabilities 22,383,800
Dividend payables 54,821 54,821
Total current liabilities 11,237,888 38,126,584
Non-current liability    
Lease liabilities – non-current 24,798 39,177
Total non-current liability 24,798 39,177
TOTAL LIABILITIES 11,262,686 38,165,761
COMMITMENTS AND CONTINGENCIES
(DEFICIT) EQUITY    
Ordinary shares, par value $0.0008 per share, 62,500,000 shares authorized including 50,000,000 Ordinary Shares and 12,500,000 Undesignated Shares; 8,623,102 and 15,376,572 issued and outstanding as of December 31, 2025 and June 30, 2026, respectively 12,301 6,898
Additional paid-in capital 44,834,785 11,350,850
Accumulated deficit (25,146,282) (15,081,537)
Accumulated other comprehensive loss (41,439) (41,439)
Total shareholders’ (deficit) equity 19,659,365 (3,765,228)
Non-controlling interest 118,055 125,157
TOTAL (DEFICIT) EQUITY 19,777,420 (3,640,071)
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 31,040,106 34,525,690
Related Party    
Current assets    
Accounts receivable – related parties 523,970 878,876
Amount due from a related party, net 938,938
Current liabilities    
Accounts payable – related parties 43,328 32,798
Amounts due to related parties $ 45,000 $ 66,554