Bank Borrowings

6 Months Ended

Jun. 30, 2025

BANK BORROWINGS

Short-term

and long-term

loans as of June 30, 2025 and December 31, 2024 represents bank borrowings obtained from financial institutions in the PRC.

The short-term and long-term bank borrowings were secured by land use right. The weighted average interest rate for the bank borrowings for the six months ended June 30, 2025 and 2024 was approximately

4.93% and 4.70%, respectively.

Current

Bank	Loan period	Interest rate			Balance at June 30, 2025		Balance at December 31, 2024

Industrial and Commercial Bank of China	June 4, 2024-June 12, 2025		4.35	%	$	-	$	1,369,994
Industrial and Commercial Bank of China	June 4, 2024-June 10, 2025		4.35	%		-		1,369,994
Jiangnan Rural Commercial Bank	February 28, 2024-July 27, 2025		4.79	%		1,256,352		1,232,994
Agricultural Bank of China, Changzhou Zhonglou Sub-branch	July 26, 2024-August 23, 2025		3.25	%		739,851		726,097
Total					$	1,996,203	$	4,699,080

Non-current

Bank	Loan period	Interest rate			Balance at June 30, 2024		Balance at December 31, 2024
Industrial and Commercial Bank of China	June 13, 2025-June 13, 2028		3.45	%	$	1,326,149	$	-
Industrial and Commercial Bank of China	June 13, 2025-June 13, 2028		3.45			1,395,946		-
EIDL Loan	From June 26, 2020 to June 25, 2050		3.75	%		135,582		136,947
Total					$	2,857,677	$	136,947