v3.25.2
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2025
Accounting Policies [Abstract]  
Schedule of Translation of Amounts Exchange Rates
Translation of amounts from RMB and HKD into U.S. dollars has been made at the following exchange rates:
 
Balance sheet items, except for equity accounts
 
 
 
 
 
 
 
 
June 30, 2025
 
 
RMB7.1636 to $1
 
 
 
HKD7.7787 to $1
 
December 31, 2024
 
 
RMB7.0950 to $1
 
 
 
HKD7.8259 to $1
 
 
 
 
 
 
 
 
 
 
Income statement and cash flows items
 
 
 
 
 
 
 
 
For the three months ended June 30, 2025
 
 
RMB7.2526 to $1
 
 
 
HKD7.7774 to $1
 
For the three months ended June 30, 2024
 
 
RMB7.1028 to $1
 
 
 
HKD7.8199 to $1
 
Schedule of Estimated Useful Lives of Property Plant and Equipment
Equipment is recorded at cost less accumulated depreciation and accumulated impairment. Depreciation is computed using the straight-line method over the estimated useful lives of the assets.
 
 
 
Estimated useful
lives (years)
 
Office and computer equipment
 
 
3-5
 
Manufacturing equipment
 
 
10-20
 
Schedule of Estimated Useful Lives of The Company's Land Use Rights
The estimated useful lives of the Company’s land use rights are as listed below:
 
 
 
Estimated useful
lives (years)
 
Land use right
 
 
50
 
Schedule of Earnings Per Share, Basic and Diluted
The Company has adopted ASC Topic 260, “Earnings per Share,” (“EPS”) which requires presentation of basic EPS on the face of the income statement for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation. In the accompanying consolidation financial statements, basic earnings (loss) per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period.
 
 
 
 
June 30,
 
 
 
2025
 
 
2024
 
 
 
(Unaudited)
 
Net (loss) income
 
$
(4,892,287
)
 
$
(937,462
)
 
 
 
 
 
 
 
 
 
Weighted average number of shares of common stock outstanding - basic
 
 
95,464,000
 
*
 
 
 
 
22,142,099
 
*
 
 
 
 
 
 
 
 
 
Add: potentially dilutive effect of shares issuable upon conversion of notes
 
 
 
 
 
 
 
 
Add: potentially dilutive effect of shares issuable upon exercise of warrants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average number of shares of common stock outstanding - diluted
 
 
95,464,000
 
*
 
 
 
 
22,142,099
 
*
 
 
 
 
 
 
 
 
 
Basic and diluted (loss) earnings per share
 
$
(0.05
)*
 
$
0.04
*
 
* Retrospectively restated for the effect of 2-for-1 reverse stock split. (Note 16)