v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash Flows from Operating Activities:    
Net (loss) income $ (24,682,538) $ 1,369,842
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization expenses 23,440,884 16,511,406
Share-based compensation expenses 16,867,997
Loss from disposal of property, plant, and equipment 372,993
Current expected credit losses 178,290
Changes in assets and liabilities:    
Right-of-use assets 4,627,057 2,713,935
Accounts receivable (18,751,671) (4,666,006)
Net investment in lease 3,272,621 (4,790,453)
Other current assets 2,069,620 (4,455,430)
Other non-current assets (20,946,236) (832,572)
Accounts payable 5,646,491 423,071
Income tax payable (984,974) 985,191
Other payables and accrued liabilities 14,513,147 (1,721,174)
Other long-term liabilities (785,371) (1,097,960)
Deferred revenue 48,749,138 17,217,731
Lease liabilities (4,108,696) (2,673,002)
Deferred tax liabilities (721,029) (235,011)
Amounts due to related parties (3,102,367)
Net Cash Provided by Operating Activities 45,655,356 18,749,568
Cash Flows from Investing Activities:    
Purchases of and deposits made for property, plant, and equipment (268,402,549) (79,026,998)
Investment in SAFE (1,000,000)
Proceeds from disposal of property, plant and equipment 1,152,000
Net Cash Used in Investing Activities (267,250,549) (80,026,998)
Cash Flows from Financing Activities:    
Net transfers from Parent 157,414,287 76,437,919
Proceeds from issuance of ordinary shares/initial public offering, net of offering costs 144,253,989
Proceeds from issuance of ordinary shares/over-allotment option exercise, net of offering costs 22,189,195  
Repayment of finance lease liabilities (92,118)
Net Cash Provided by Financing Activities 323,765,353 76,437,919
Net increase in cash, cash equivalents and restricted cash 102,170,160 15,160,489
Effect of exchange rate changes on cash, cash equivalents and restricted cash 723,162 (408,279)
Cash, cash equivalents and restricted cash, beginning of the year 15,404,776 652,566
Cash, cash equivalents and restricted cash, end of the year 118,298,098 15,404,776
Supplemental Cash Flow Information    
Cash paid for income taxes, net of (refunds) 598,182
Non-cash Transactions of Investing and Financing Activities    
Right of use assets exchanged for operating lease liabilities 31,241,763 6,399,602
Reclassification of deposits to property, plant and equipment 120,958,432 23,225,217
Net investment in sales-type lease of equipment 7,939,715 4,538,545
Reclassification of operating lease right-of-use asset and liability to finance lease (17,163,828)
Construction in progress included in other payables and accrued liabilities 27,434,278  
Cash and cash equivalents 114,441,279 11,671,984
Restricted cash 3,856,819 3,732,792
Total $ 118,298,098 $ 15,404,776