v3.25.2
CUSTOMER DEPOSITS
6 Months Ended
Jun. 30, 2025
CUSTOMER DEPOSITS  
CUSTOMER DEPOSITS

NOTE 16 – CUSTOMER DEPOSITS

Customer deposits consisted of the sales from real estate development project (the Linyi project and the HATX project) which cannot be recognized as revenue at the accounting period and deposits received for rental.

The Linyi project started pre-sales in November 2013 and in 2019, the Linyi project recognized its revenue along with customer deposit; as of June 30, 2025, the pre-sales amounted to $3,262,595. The HATX project started pre-sales in December 2019; as of June 30, 2025 the pre-sales amounted to $13,295,317.