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Unaudited Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2025
Dec. 31, 2024
Current Assets    
Cash and cash equivalents $ 688,857 $ 153,203
Accounts receivable, net 7,549,043 5,425,525
Prepayments and other assets, net 2,326,203 4,581,567
Inventories, net 14,743,558 18,571,458
Amount due from a stockholder, net 151,679
Income tax recoverable 793,892 6,506
Total current assets 26,101,553 28,889,938
Non-current assets    
Plant and equipment, net 529,189 684,969
Operating lease right-of-use assets, net 16,902,166 18,693,425
Prepayments and other assets, net 384,183 384,208
Deferred initial public offering (“IPO”) costs 570,588
Deferred tax assets, net 644,958 17,942
Total non-current assets 19,031,084 19,780,544
Total assets 45,132,637 48,670,482
Current liabilities    
Accounts payable 15,848,493 18,899,357
Operating lease liabilities, current 2,429,280 2,262,063
Contract liabilities 679,309 505,859
Accrued expenses and other liabilities 1,320,991 996,397
Total current liabilities 20,278,073 22,663,676
Non-current liabilities    
Operating lease liabilities, non-current 15,663,464 17,505,755
Total non-current liabilities 15,663,464 17,505,755
Total liabilities 35,941,537 40,169,431
Commitments and contingencies (Note 19)
Stockholders’ equity    
Common stock (par value of $0.0001 per share, 80,000,000 shares authorized; 14,000,000 shares issued and outstanding as of September 30, 2025 and December 31, 2024) [1] 1,400 1,400
Subscription receivables (2,000) (2,000)
Additional paid-in capital 759,500 759,500
Retained earnings 8,431,600 7,741,551
Total stockholders’ equity 9,191,100 8,501,051
Total liabilities and stockholders’ equity 45,132,637 48,670,482
Series A Preferred Stock    
Stockholders’ equity    
Series A Preferred Stock (par value of $0.0001 per share, 20,000,000 shares authorized; 6,000,000 shares issued and outstanding as of September 30, 2025 and December 31, 2024) [1] $ 600 $ 600
[1] Shares and per share data are presented on a retroactive basis to reflect the common stock issuance and share subdivision.