v3.25.2
Income Tax (Tables)
3 Months Ended
Mar. 31, 2025
Income Tax [Abstract]  
Schedule of Income Taxes in the PRC

Income taxes in the PRC consisted of:

 

   For the 
   three months ended
March 31,
   Fiscal year ended
December 31,
 
   2025   2024   2023 
   US$   US$   US$ 
Income tax expense   157,881    -    - 
Deferred income tax benefit   (5,212)   (22,303)   (65,905)
Total income tax expense (benefit)  $152,669   $(22,303)  $(65,905)
Schedule of Reconciliation of the Statutory Tax Rate to the Effective Tax Rate

Below is a reconciliation of the statutory tax rate to the effective tax rate:

 

   For the 
   three months ended
March 31,
   Fiscal year ended
December 31,
 
   2025   2024   2023 
   US$   US$   US$ 
PRC statutory income tax rates*   25.00%   25.00%   25.00%
Non-deductible expenses   
-
    (0.27)%   (0.34)%
Preferential tax rate reduction   (8.57)%   (1.2)%   
-
 
Change in valuation allowance   (7.20)%   (18.97)%   (3.80)%
Actual income tax rate   9.23%   4.56%   20.85%

 

*As the Company’s business operation mainly concentrated in PRC, the Company determined to apply PRC statutory tax rate in reconciliation of the statutory tax rate to the effective tax rate.
Schedule of Deferred Tax Assets

Deferred tax assets consisted of the following:

 

   As of 
   March 31,   December 31, 
   2025   2024   2023 
   US$   US$   US$ 
Land use right amortization   91,714    85,865    65,858 
Appraisal appreciation   12,503    
-
    
-
 
Net operating losses carried forward in the PRC   15,931    148,993    101,852 
Net operating losses carried forward in the U.S.   221,318    193,608    150,645 
Totals   341,466    428,466    318,355 
Less: Valuation allowance   (237,249)   (342,601)   (252,497)
Deferred tax assets, net   104,217    85,865    65,858