v3.26.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2025
Summary of Significant Accounting Policies [Abstract]  
Schedule of Financial Statement Amounts and Balances of the VIE The following financial statement amounts and balances of the VIE were included in the accompanying audited consolidated financial statements for the years ended December 31, 2025, 2024 and 2023, respectively:
   As of
December 31,
2025		   As of
December 31,
2024		 
Assets        
Current Assets:        
Cash and cash equivalents  $33,692   $34,318 
Restricted cash   3,278    5,545 
Notes receivable   7,414    7,309 
Accounts receivable, net   135,941    126,467 
Due from related parties   11,686    662 
Prepayments and other current assets, net   20,808    28,912 
Total Current Assets   212,819    203,213 
           
Property and equipment, net   68,491    57,827 
Intangible assets, net   11,213    11,413 
Operating lease right-of-use assets, net   5,638    9,827 
Long-term investments   8,852    1,900 
Deposits for investment   9,177    10,573 
Deferred tax assets   1,301    1,396 
Other non-current assets   23,984    9,623 
Total Assets  $341,475   $305,772 
           
Liabilities and Equity          
           
Current Liabilities          
Notes payable  $9,248   $14,907 
Accounts payable   92,916    91,936 
Short-term bank loans   44,652    39,401 
Long-term bank loans, current   2,769    
-
 
Due to related parties   1,720    1,687 
Salary and welfare payables   5,507    3,017 
Accrued expenses and other current liabilities   9,242    7,508 
Operating lease liabilities, current   2,655    4,218 
Tax payables   4,131    2,994 
Total Current Liabilities   172,840    165,668 
           
Long-term bank loans   33,832    16,390 
Operating lease liabilities, non-current   2,094    4,649 
Deferred tax liabilities   247    49 
Other non-current liabilities   1,256    2,838 
Total Liabilities   210,269    189,594 
           
Net assets  $131,206   $116,178 
Schedule of Consolidated Operations
   Years Ended December 31, 
   2025   2024   2023 
Total revenues  $563,780   $498,122   $401,825 
Cost of revenues  $(512,057)  $(453,365)  $(355,662)
Income from operations  $16,724   $14,450   $14,420 
Net income  $11,984   $10,490   $10,828 
Schedule of Depreciation and Amortization are Computed Using the Straight Line Method Over the Following Estimated Useful Lives

Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the following estimated useful lives, taking into account any estimated residual value.

 

    Useful Life
Building   10-40 years
Office equipment   5-10 years
Machinery and tools   5 years
Vehicles   5-7 years
Leasehold improvements   Lesser of the lease term or the
estimated useful lives of the assets
Schedule of Estimated Useful Lives

The estimated useful lives are as follows:

 

    Useful life
Land use right   32 - 50 years
Licensed software   5 years
Schedule of Disaggregated Information of Revenues

Disaggregated information of revenues by services:

 

   Years Ended December 31, 
   2025   2024   2023 
Revenues:            
Transportation  $554,761   $484,754   $383,211 
Warehouse storage management service   14,258    16,432    18,160 
Others   3,459    2,972    2,750 
Total revenues  $572,478   $504,158   $404,121 

 

Disaggregated information of revenues by the timing of transfer of services:

 

   Years Ended December 31, 
   2025   2024   2023 
             
Revenue recognized at a point in time (transportation services)  $554,761   $484,754   $383,211 
Revenue recognized over time (warehouse storage management services and others revenues)   17,717    19,404    20,910 
Total revenues  $572,478   $504,158   $404,121 
Schedule of Disaggregated Information of Revenues by Geographic Locations

The Company’s operations are primarily based in the PRC, where the Company derived a substantial portion of revenues. Disaggregated information of revenues by geographic locations are as follows:

 

   Years Ended December 31 
   2025   2024   2023 
Fujian  $434,998   $362,620   $267,393 
Beijing   27,707    30,721    29,110 
Liaoning   19,150    9,106    8,817 
Zhejiang   15,068    18,297    15,448 
Guangdong   11,619    14,343    14,130 
Others   63,936    69,071    69,223 
Total  $572,478   $504,158   $404,121 
Schedule of Information by Segment

The following tables present summary information by segment for the years ended December 31, 2025, 2024 and 2023:

 

   Years ended December 31, 
   2025   2024   2023 
Revenues  $572,478   $504,158   $404,121 
Cost of revenues   (519,390)   (457,874)   (357,615)
Gross profit   53,088    46,284    46,506 
                
Employee compensation and benefits expenses   (25,245)   (20,697)   (22,540)
Other operating expenses   (10,963)   (10,921)   (10,060)
Income from operations   16,880    14,666    13,906 
                
Other income (expense)   

(2,624

)   

(2,173

)   

(1,278

)
Income before income taxes   14,256    12,493    12,628 
                
Provision for income taxes   (2,047)   (1,666)   (2,320)
Net income  $12,209   $10,827   $10,308