v3.25.2
Intangible Assets, net
 6 Months Ended
Jun. 30, 2025
Intangible Assets, net [Abstract]  
Intangible Assets, net
8.
Intangible Assets, net

The following table shows the Company’s intangible assets by major asset classes as of December 31, 2024 and June 30, 2025:

   
Period Ended
  
   
December 31,
2024
    
June 30,
2025
  
Brand
  
$
279,173
    
$
301,909
  
Customer relationship
    
10,304,898
      
11,359,164
  
Order backlog
    
8,409,416
      
8,677,684
  
Favorable contract
    
270,467
      
273,554
  
Licenses, software
    
41,791
      
59,389
  
Concessions
    
17,858
      
—
  
Intangible assets, net
  
$
19,323,603
    
$
20,671,700
  

The following table reflects the gross carrying amount and accumulated amortization as of June 30, 2025:

   
Gross carrying
amount
    
Accumulated
amortization
    
Net carrying
amount
  
Brand
  
$
315,035
    
$
(13,126
)
  
$
301,909
  
Customer relationship
    
11,610,730
      
(251,566
)
    
11,359,164
  
Order backlog
    
9,524,392
      
(846,708
)
    
8,677,684
  
Favorable contract
    
306,789
      
(33,235
)
    
273,554
  
Licenses, software
    
67,083
      
(7,694
)
    
59,389
  
Total intangible assets
  
$
21,824,029
    
$
(1,152,329
)
  
$
20,671,700
  

For the six months ended June 30, 2025, total amortization of $992,635 was recorded. The net exchange difference was $2,340,191. The estimated aggregate annual amortization expense for the five succeeding fiscal years is $1.99 million. The weighted-average amortization period in total is 15.5 years.