v3.25.2
Consolidated Balance Sheets - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current assets:      
Cash and cash equivalents $ 493,201 $ 240,598 $ 895,730
Restricted cash 217,700
Accounts receivable, net 2,278,878 52,514 742,851
Other receivable, net 74,693 6,854,374 1,106,574
Inventories, net 36,206 13,713
Advances to suppliers 175,389 4,026
Other current assets 757,833 936,230 1,142,409
Total current assets 4,033,900 8,126,102 3,960,742
Non-current assets:      
Property and equipment, net 27,139,534 16,888 3,193
Construction-in-progress 16,832,470 41,264,766 41,423,399
Intangible assets, net 3,213
Land use right, net 3,998,567 3,909,114 4,118,101
Other non-current assets 7,005,938 4,134,357 706,920
Equity-method investments 527,684
Total non-current assets 55,504,193 49,325,125 46,254,826
Total assets 59,538,093 57,451,227 50,215,568
Current liabilities:      
Long-term loans -current portion 378,026 235,306
Accounts payable 2,263,805 650,905
Accounts payable-construction in progress 13,639 12,289 18,493
Advances from customers 256 255
Accrued expenses and other liabilities 841,789 154,416 385,805
Total current liabilities 6,447,590 6,691,706 1,055,203
Non-current liabilities      
Deferred subsidies 1,935,462 1,929,637 1,989,463
Long term loans 6,556,390 6,562,928
Deferred tax liability 7,675
Total non-current liabilities 12,013,264 11,986,051 8,672,422
Total liabilities 18,460,854 18,677,757 9,727,625
Commitments and contingencies
Stockholders’ equity:      
Common stock (US$0.001 par value; 2,000,000,000 shares authorized; 518,831,367, 518,831,367, and 518,831,367 issued and outstanding as of March 31, 2025, December 31, 2024, and December 31, 2023, respectively) 518,831 518,831 518,831
Additional paid-in capital 39,905,228 39,905,228 39,905,228
Statutory reserves 1,197 1,197
Accumulated deficit (31,672) (1,292,076) (812,539)
Accumulated other comprehensive loss (131,400) (365,573) 876,423
Total Hongchang International Co., Ltd’s stockholders’ equity 40,262,184 38,767,607 40,487,943
Non-controlling interests 815,055 5,863
Total equity 41,077,239 38,773,470 40,487,943
Total liabilities and equity 59,538,093 57,451,227 50,215,568
Related Party      
Current assets:      
Amount due from a related party 38,360 141
Advances to supplier-related party 59,324
Current liabilities:      
Amounts due to related parties -current portion 2,950,075 6,289,440
Non-current liabilities      
Amounts due to related parties $ 3,513,737 $ 3,493,486 $ 6,682,959