XML 32 R22.htm IDEA: XBRL DOCUMENT

Other Income

9 Months Ended

Sep. 30, 2025

Other Income [Abstract]

16. Other income

The following table shows other income for the three and nine months ended September 30, 2025 and 2024, respectively:

		For the Three Months Ended September 30,								For the Nine Months Ended September 30,
		2025				2024				2025				2024
		(Unaudited)				(Unaudited)				(Unaudited)				(Unaudited)
Sub-lease income⁽¹⁾		$	259,230			$	245,762			$	777,690				710,921
Interest income from customer’s overdue⁽²⁾			—				52,973				23,827				124,569
Government subsidies⁽³⁾			—				—				811,147				—
Warehouse management fee income⁽⁴⁾			155,612				68,450				480,682				149,250
Others			181				143				764				681
Total other income		$	415,023			$	367,328			$	2,094,110			$	985,421

(1)	The Company’s sub-leased part of its warehouse and office to an independent third party. The period of the lease is less than one year.

(2)

Interests on customer’s overdue represent interests charged on overdue receivables from customer arising from sales transactions. According to the contracts entered into between the Company and its customer, the Company shall charge its customer on amounts overdue, i.e. amounts due on sales transactions which are not yet settled within 60 days of the due date, an interest with interest rate based on the JP Morgan Chase interest rate as published at the beginning of each month accrued on daily and compounded monthly basis.

(3)

Government subsidies primarily relate to one-off entitlement granted by the Internal Revenue Service for the Employee Retention Tax Credits. The Company recognizes government subsidies as other income when the conditions are met, which the Company confirmed the eligibilities and received the sum of the subsidies during the period.

(4)

Warehouse management fee income represents income earned for providing access to and use of warehouses, calculated based on the volume of goods processed and a reimbursement of utility expenses incurred. As this arrangement does not grant the customer the right to control an identified asset, it does not meet the definition of a lease under ASC 842. It is accounted for as other income and recognized as the services are rendered.