v3.25.2
Concentration
 6 Months Ended
Jun. 30, 2025
Concentration [Abstract]  
CONCENTRATION
14.CONCENTRATION

 

Financial instruments that potentially expose the Group to concentrations of credit risk consist primarily of accounts receivable. The Group conducts credit evaluations of its customers, and generally does not require collateral or other security from them. The Group evaluates its collection experience and long outstanding balances to determine the need for an allowance for doubtful accounts. The Group conducts periodic reviews of the financial condition and payment practices of its customers to minimize collection risk on accounts receivable.

 

The following table sets forth a summary of single customers who represented 10% or more of the Group’s total revenue.

 

   For the six months ended
June 30,		 
   2025   2024 
Percentage of the Group’s total revenue        
Customer A   47%   * 
Customer B   39%   * 
Customer C   *    29%
Total   86%   29%

 

  * Represent percentage less than 10%

  

The following table sets forth a summary of single customers who represented 10% or more of the Group’s total accounts receivable:

 

   As of
June 30,		   As of
December 31,		 
   2025   2024 
Percentage of the Group’s accounts receivable        
Customer D   100%   100%
Total   100%   100%

  

The following table sets forth a summary of single suppliers who represented 10% or more of the Group’s total purchase.

 

   For the six months ended
June 30,		 
   2025   2024 
Percentage of the Group’s total purchase        
Supplier A   25%   * 
Supplier B   *    96%
Total   25%   96%

  

  * Represent percentage less than 10%

 

The following table sets forth a summary of single suppliers who represented 10% or more of the Group’s total accounts payable.

 

   As of
June 30,		   As of
December 31,		 
   2025   2024 
Percentage of the Group’s accounts payable        
Supplier C   40%   20%
Supplier B   32%   30%
Supplier D   *    15%
Supplier E   *    14%
Total   73%   79%

  

  * Represent percentage less than 10%