| Schedule of Bank Loans from Commercial Banks |
The following table presents bank loans from commercial
banks as of December 31, 2025 and 2024:
| | |
As of
December 31,
2025 | | |
As of
December 31,
2024 | |
| Bank of China Fuzhou Jin’an Branch | |
$ | 11,382 | | |
$ | 11,129 | |
| China Merchant Bank Fuzhou Branch | |
| 22,337 | | |
| 10,340 | |
| Xiamen International Bank Co., Ltd. Fuzhou Branch | |
| 8,536 | | |
| 6,956 | |
| Haixia Bank of Fujian Fuzhou Jin’an Branch | |
| 1,138 | | |
| 1,113 | |
| Fujian Fuzhou Rural Commercial Bank Co., Ltd. Yuefeng Branch | |
| - | | |
| 1,391 | |
| Shanghai Pudong Development Bank Co., Ltd. Fuzhou Branch | |
| - | | |
| 2,087 | |
| Industrial Bank Fuzhou Branch | |
| 13,637 | | |
| 4,994 | |
| Haixia Bank of Fujian Fuzhou Minjiang Branch | |
| - | | |
| 1,391 | |
| Postal Savings Bank Fuzhou Branch | |
| 2,134 | | |
| - | |
| China Industrial and Commercial Bank Fuzhou Branch | |
| 4,268 | | |
| - | |
| Bank of China Ningde Branch | |
| 17,821 | | |
| 16,390 | |
| Total | |
| 81,253 | | |
| 55,791 | |
| Less: Short-term bank loans | |
| (44,652 | ) | |
| (39,401 | ) |
| Less: Long-term bank loans, current | |
| (2,769 | ) | |
| - | |
| Long-term bank loans | |
$ | 33,832 | | |
$ | 16,390 | |
|
| Schedule of Movement of Bank Loans |
The movement of bank loans is as follows:
| | |
Years ended December 31, | |
| | |
2025 | | |
2024 | | |
2023 | |
| | |
| | |
| | |
| |
| Beginning balance | |
$ | 55,791 | | |
$ | 36,130 | | |
$ | 47,655 | |
| Additions | |
| 73,961 | | |
| 66,844 | | |
| 37,876 | |
| Repayments | |
| (50,152 | ) | |
| (46,464 | ) | |
| (48,661 | ) |
| Foreign currency translation adjustment | |
| 1,653 | | |
| (719 | ) | |
| (740 | ) |
| Total | |
$ | 81,253 | | |
$ | 55,791 | | |
$ | 36,130 | |
|
| Schedule of the Repayment Schedule for the Bank Loans |
The repayment schedule for the bank loans is as follows:
| Twelve months ending December 31, | |
Repayment | |
| 2026 | |
$ | 47,421 | |
| 2027 | |
| 3,660 | |
| 2028 | |
| 17,252 | |
| 2029 | |
| 2,228 | |
| 20330 | |
| 2,450 | |
| Thereafter | |
| 8,242 | |
| Total | |
$ | 81,253 | |
|