v3.25.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash and cash equivalents $ 1,170,462 $ 1,548,513
Restricted cash 2 1,573
Accounts receivable 13,385,507 4,860,571
Inventories 27,172,200
Advances to suppliers 99,861 3,881
Prepayment and other current assets 4,174,868 3,790,100
Assets of discontinued operations - current 6,301,392 76,914,507
Total current assets 52,304,292 87,119,145
NON - CURRENT ASSETS:    
Property and equipment, net 8,532 9,062
Intangible assets, net 32,527 44,007
Operating lease right-of-use assets 9,726
Deferred tax assets 2,713,808 3,488,976
Assets of discontinued operations - non-current 6,308,929 6,876,429
Total non - current assets 9,063,796 10,428,200
TOTAL ASSETS 61,368,088 97,547,345
CURRENT LIABILITIES:    
Accounts payable 12,909,752 19,909,752
Accrued expenses and other payables 2,510,916 1,827,004
Advances from customers 539 3,707,166
Due to related parties 2,200,451 9,244,774
Operating lease liabilities, current 8,738
Income tax payable 15,392,010 13,839,598
Liabilities of discontinued operations - current 6,472,461 29,444,690
Total current liabilities 39,486,129 77,981,722
NON - CURRENT LIABILITIES:    
Liabilities of discontinued operations - non-current 16,543 133,123
Total non - current liabilities 16,543 133,123
TOTAL LIABILITIES 39,502,672 78,114,845
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY:    
Additional paid-in capital 26,502,856 26,502,856
Statutory reserves 335,696 335,696
Retained earnings 5,423,638 2,304,543
Accumulated other comprehensive loss (10,423,129) (9,736,950)
Total shareholders’ equity 21,865,416 19,432,500
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 61,368,088 97,547,345
Class A Ordinary Shares    
SHAREHOLDERS’ EQUITY:    
Ordinary Shares 24,255 24,255
Class B Ordinary Shares    
SHAREHOLDERS’ EQUITY:    
Ordinary Shares $ 2,100 $ 2,100