v3.25.2
Leases - Schedule of Operating Lease Related Assets and Liabilities Recorded on the Balance Sheets (Details) - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Schedule of Operating Lease Related Assets and Liabilities Recorded on the Balance Sheets [Abstract]    
ROU lease assets $ 11,207,618 $ 11,021,615
Operating lease liabilities – current 2,221,418 2,325,390
Operating lease liabilities – non-current 9,135,236 9,207,971
Total operating lease liabilities $ 11,356,654 $ 11,533,361
Remaining lease term and discount rate:    
Weighted average remaining lease term (years) 6 years 8 months 26 days 6 years 9 months
Weighted average discount rate [1] 4.41% 4.50%
[1] The Company used incremental borrowing rate of 6.98% for its lease contracts entered prior to fiscal year 2022 in the PRC. For lease contracts entered from fiscal year 2022 to the first half of fiscal year 2023, the Company used new incremental borrowing rate of 3.95%. For lease contracts entered from the second half of fiscal year 2023 to fiscal year 2024, the Company used new incremental borrowing rate of 5.00%. For lease contracts entered in the first half of fiscal year 2025, the Company used new incremental borrowing rate of 4.19%. The Company used incremental borrowing rate of 3.75% for its lease contracts entered prior to fiscal year 2024 in the United States, and for lease contracts entered in fiscal year 2024, the Company used new incremental borrowing rate of 8.00%.