v3.25.2
Condensed Consolidated and Combined Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Revenues, net    
Total revenues, net  $ 180,774,803 $ 156,312,109
Cost of goods sold (130,942,258) (114,376,152)
Gross profit 49,832,545 41,935,957
Operating expenses:    
Sales and distribution expenses (31,092,110) (26,226,218)
General and administrative expenses (9,025,931) (7,978,231)
Listing expenses (666,021) (310,502)
Total operating expenses (40,784,062) (34,514,951)
Income from operations 9,048,483 7,421,006
Other income (expense):    
Interest expense (730,372) (387,263)
Interest income 16,246 95,040
Government subsidies 16,950 21,232
Foreign exchange gain, net 4,293,633 532,909
Net gain from related parties debt restructuring 1,460,543
Professional fees on acquisition of HTL Marketing (1,261,560)
Scrap sofa sale income 223,263 303,452
Sundry income 39,404 81,816
Change in fair value of derivatives and hedging instruments (753,243) (1,064,841)
Total other (expense) income, net 3,304,864 (417,655)
Income before income taxes 12,353,347 7,003,351
Income tax expense (2,329,272) (1,637,735)
NET INCOME 10,024,075 5,365,616
Other comprehensive income (loss):    
– Foreign currency translation adjustments 1,368,175 (1,648,993)
COMPREHENSIVE INCOME $ 11,392,250 $ 3,716,623
Basic [1],[2] 89,687,500 88,250,000
Diluted [1],[2] 89,687,500 88,250,000
EARNINGS (LOSS) PER SHARE - BASIC $ 0.11 $ 0.06
EARNINGS (LOSS) PER SHARE - DILUTED $ 0.11 $ 0.06
Third Party [Member]    
Revenues, net    
Total revenues, net  $ 170,117,861 $ 150,461,612
Related Party [Member]    
Revenues, net    
Total revenues, net  $ 10,656,942 $ 5,850,497
[1] The share amounts and per share data are presented on a retroactive basis, after giving the effect from the completion of common control acquisition (see Note 1).
[2] The share amounts and per share data are presented on a retroactive basis, giving the effect from the completion of common control acquisition (see Note 1).