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Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
CURRENT ASSETS    
Cash & Cash Equivalents $ 146,514 $ 756
Restricted Cash [1] 171,487 307,826
Short term investment 7,028,594
Notes receivable 15,493
Accounts receivable, net 64,159 991,212
Retention receivables-current, net 3,738 212,163
Inventories, net 1,428,197 2,813,699
Prepaid expenses and other current assets 1,560,119 1,114,474
Deferred offering costs 231,316
TOTAL CURRENT ASSETS 10,471,308 5,687,188
Retention receivables, net 8,569 1,823,187
Property, plant and equipment, net 855,190 13,134,762
Intangible assets, net 2,673 25,634
Operating lease right-of-use asset 15,207,546 16,607,520
Finance lease right-of-use asset 85,801 126,201
Other non-current assets 98,593
TOTAL ASSETS 26,631,087 37,503,085
CURRENT LIABILITIES    
Current portion of long-term loan payable 479,498 492,965
Accounts payable 1,072,090 1,176,850
Amounts due to related parties 115,313 160,438
Contract liabilities 3,878,202 3,893,986
Accrued expenses and other current liabilities 6,325,810 3,799,292
Product warranty provision-current 1,368,031 2,008,484
Operating lease liability-current 1,578,006
Finance lease liability-current 155,842
TOTAL CURRENT LIABILITIES 20,361,778 14,972,816
Long-term loan payable 246,482
Product warranty provision-non current 642,176 916,586
Operating lease liability-non current 21,946,223 20,388,865
Financial lease liability-non current 131,635  
TOTAL LIABILITIES 43,081,812 36,524,749
SHAREHOLDERS’ (DEFICIT) EQUITY    
Additional paid in capital [2] 51,070,184 38,502,520
Statutory reserve 708,470 708,470
Accumulated deficit (68,903,695) (38,790,191)
Accumulated other comprehensive income 673,725 557,087
TOTAL SHAREHOLDERS’ (DEFICIT) EQUITY (16,450,725) 978,336
TOTAL LIABILITIES AND SHAREHOLDERS’ (DEFICIT) EQUITY 26,631,087 37,503,085
Common Class A [Member]    
SHAREHOLDERS’ (DEFICIT) EQUITY    
Common stock value [2] 533 392
Common Class B [Member]    
SHAREHOLDERS’ (DEFICIT) EQUITY    
Common stock value [2] 58 58
Related Party [Member]    
CURRENT ASSETS    
Amounts due from related parties 68,500 249
CURRENT LIABILITIES    
Short term loans 561,698 563,388
Nonrelated Party [Member]    
CURRENT LIABILITIES    
Short term loans $ 6,561,136 $ 1,143,565
[1] This frozen amount is due to the court order primarily resulted from the legal proceedings related to the contract disputes with customers (See Note 22-ii) Litigation.
[2] Par value of ordinary shares, additional paid-in capital and share data have been retrospectively restated to give effect to the reorganization that is discussed in Note 1.