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(“MicroAlgo” or the “Company”) (f/k/a Venus Acquisition Corporation (“Venus”)), a Cayman Islands exempted company, entered into the Merger Agreement dated June 10, 2021 (as amended on January 24, 2022, August 2, 2022, August 3, 2022 and August 10, 2022, the “Merger Agreement”), by and among WiMi Hologram Cloud Inc. (“WiMi” or the “Majority Shareholder”), Venus, Venus Merger Sub Corporation (“Venus Merger Sub”), a Cayman Islands exempted company incorporated for the purpose of effectuating the Business Combination, and VIYI Algorithm Inc. (“VIYI”), a Cayman Islands exempted company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">On December 9, 2022, in accordance with the Merger Agreement, the closing of the business combination (the “Closing”) occurred. As a result of the consummation of the business combination, VIYI is now a wholly-owned subsidiary of the Company, which has changed its name to MicroAlgo Inc.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The business combination was accounted for as a reverse recapitalization in accordance with U.S. GAAP. Under this method of accounting, Venus will be treated as the “acquired” company for financial reporting purposes. This determination was primarily based on the holders of VIYI expecting to have a majority of the voting power of the post-combination company, VIYI senior management comprising substantially all of the senior management of the post-combination company, the relative size of VIYI compared to Venus, and VIYI operations comprising the ongoing operations of the post-combination company. Accordingly, for accounting purposes, the business combination will be treated as the equivalent of VIYI issuing shares for the net assets of Venus, accompanied by a recapitalization. The net assets of Venus will be stated at historical cost, with no goodwill or other intangible assets recorded. Operations prior to the business combination will be those of VIYI. (See Note 3 for details)</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">VIYI Algorithm Inc. (“VIYI”), is a company incorporated on September 24, 2020 under the laws of the Cayman Islands. WiMi Hologram Cloud Inc. (“WiMi Inc.” or the “Parent”) is VIYI’s parent company. VIYI, its consolidated subsidiaries, are primarily engaged in providing central processing algorithm services.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">On March 8, 2011, Shenzhen Yitian Internet Technology Co., Ltd. was established under the laws of the People’s Republic of China. Shenzhen Yitian is one of our operating entities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in">On January 14, 2019, Shenzhen Yitian established a fully owned subsidiary Shenzhen Yiyou Online Technology Co., Ltd. (<span style="font-family: Times New Roman, Times, Serif">“</span>YY Online<span style="font-family: Times New Roman, Times, Serif">”</span>), YY Online is one of our operating entities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in">On October 28, 2020, Shenzhen Yitian established a fully owned subsidiary Weidong Technology Co., Ltd.(<span style="font-family: Times New Roman, Times, Serif">“</span>Weidong<span style="font-family: Times New Roman, Times, Serif">”</span>) in Hainan, Weidong is one of our operating entities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in">On October 9, 2020, VIYI set up a wholly owned holding company in Hong Kong, VIYI Technology Ltd. (“VIYI Ltd”), which holds all of the outstanding equity of Shenzhen Weiyixin Technology Co., Ltd. (“Shenzhen Weiyixin”or “WFOE”) which established on November 18, 2020 under the laws of the PRC.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in">On November 30, 2020, Shenzhen Weiyixin established Shanghai Weimu Technology Co., Ltd., (“Shanghai Weimu”) in the PRC, and Shenzhen Weiyixin holds <span id="xdx_902_ecustom--OutstandingEquity_dp_c20201101__20201130__srt--CounterpartyNameAxis__custom--ShanghaiWeimuMember_zM2KLvAJMDYb" title="Outstanding equity">58%</span> outstanding equity of Shanghai Weimu.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in">On April 15, 2021, VIYI Ltd formed a <span id="xdx_902_ecustom--OwnedSubsidiary_dp_c20210401__20210415__srt--CounterpartyNameAxis__custom--VIYILtdMember_zASounn6rtM2" title="Owned subsidiary">55%</span> owned subsidiary Viwo Technology Limited (“Viwo Technology”), a Hong Kong limited company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in; background-color: white"><span style="background-color: white">On July 1, 2021, Weidong acquired <span id="xdx_90B_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_dp_c20210701__us-gaap--BusinessAcquisitionAxis__custom--WeidongMember_zy7scn5hKVM" title="Acquired interest">99%</span> interest of Shanghai Guoyu Information Technologies Co., Ltd (“Shanghai Guoyu”). The remaining 1% of Shanghai Guoyu is acquired by YY Online. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in; background-color: white"><span style="background-color: white">On July 14, 2021, Weidong transferred its <span id="xdx_906_ecustom--EquityInterestTransferred_dp_c20210702__20210714__srt--CounterpartyNameAxis__custom--WeidongMember_zsv5r0z1lMzl" title="Equity interest transferred">100%</span> equity interest of Khorgas Weidong to Shanghai Guoyu.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in; background-color: white"><span style="background-color: white">On July 19, 2021, Viwo Technology established a fully owned subsidiary Shenzhen Viwotong Technology Co., Ltd. (“SZ Viwotong”) in Shenzhen to support its operations. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in; background-color: white"><span style="background-color: white">In November 2021, SZ Viwotong acquired <span id="xdx_906_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_dp_c20211130__us-gaap--BusinessAcquisitionAxis__custom--SZViwotongMember_ztdVT90pIuka" title="Acquired interest">100%</span> equity interests of Guangzhou Tapuyu Internet Technology Co., Ltd. (“Tapuyu”). </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in">In December 2022, <span style="background-color: white">SZ Viwotong</span> acquired <span id="xdx_90B_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_dp_c20221231__us-gaap--BusinessAcquisitionAxis__custom--SZViwotongMember_z6QUG5YLHu52" title="Acquired interest">100%</span> equity of Beijing Younike Information Technology Co., Ltd. (<span style="font-family: Times New Roman, Times, Serif">“</span>Younike<span style="font-family: Times New Roman, Times, Serif">”</span>).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in">On March 27, 2023, Weidong established a fully owned subsidiary Shenzhen Weidong Technology Co., Ltd. (<span style="font-family: Times New Roman, Times, Serif">“</span>SZ Weidong<span style="font-family: Times New Roman, Times, Serif">”</span>) in Shenzhen.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in">On May 17, 2023, YY Online transferred <span id="xdx_902_ecustom--EquityInterestTransferred_dp_c20230501__20230517__srt--CounterpartyNameAxis__custom--YYOnlineMember_z4F7CWP8nlW1" title="Equity interest transferred">1%</span> equity of <span style="background-color: white">Shanghai Guoyu to </span>SZ Weidong.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in">On June 5, 2023 VIYI Technology Ltd established a fully owned subsidiary <span style="background-color: white">CDDI Capital Ltd (“CDDI”) in </span>British Virgin Islands.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in">On June 27, 2023, CDDI formed a <span id="xdx_906_ecustom--OwnedSubsidiary_dp_c20230601__20230627__srt--CounterpartyNameAxis__custom--CDDIMember_zFKPhxBAmw67" title="Owned subsidiary">55%</span> owned subsidiary <span style="background-color: white">VIWO Technology Inc.(“</span>VIWO Cayman”) in Cayman.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in">On July 31, 2023, VIYI Technology Ltd transferred its equity of Viwo Technology Limited to VIWO Cayman. VIWO Cayman holds <span id="xdx_909_ecustom--EquityInterestTransferred_dp_c20210702__20210731__srt--CounterpartyNameAxis__custom--VIWOMember_zbpGrgtgaFW7" title="Equity interest transferred">100%</span> equity in Viwo Technology.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in">On December 20, 2023, VIWO Cayman established a fully owned subsidiary VIWO Technology (HK) Co., Limited (“VIWO HK”) in Hong Kong.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in">On January 23, 2024, VIWO Technology (HK) Co., Limited established a wholly-owned subsidiary, Beijing Viwotong Technology Co., Ltd. (“BJ Viwotong”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify">In February 2024, SZ Viwotong transferred <span id="xdx_903_ecustom--EquityInterestTransferred_dp_c20240201__20240229__srt--CounterpartyNameAxis__custom--SZViwotongMember_zkS63B3rxZia" title="Equity interest transferred">100%</span> equity of Tapuyu and Younike to BJ Viwotong.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">On March 7, 2024, BJ Viwotong established a wholly-owned subsidiary, Beijing Weiyun Spacetime Technology Co., Ltd (“BJ Weiyun”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In November, 2024, BJ Viwotong transferred <span id="xdx_90D_ecustom--EquityInterestTransferred_dp_c20241101__20241130__srt--CounterpartyNameAxis__custom--BJViwotongMember_zJdJjPPLA8Zc">100</span>% equity of Tapuyu and Younike to BJ Weiyun for the purpose of easy for group management.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in">The accompanying consolidated financial statements reflect the activities of MicroAlgo and each of the following entities as of December 31, 2025:</p> <table cellpadding="0" cellspacing="0" id="xdx_891_ecustom--ScheduleOfAccompanyingConsolidatedFinancialStatementsTableTextBlock_zHHNn93cTbM7" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Nature of business and organization (Details)"> <tr style="vertical-align: bottom"> <td style="vertical-align: bottom; text-align: left"><span id="xdx_8BF_zWw1dP2o8Oug" style="display: none">Schedule of financial statements reflect the activities of MicroAlgo</span></td> <td style="text-align: center"> </td> <td colspan="2" style="text-align: center"> </td> <td style="text-align: center"> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"><span style="font-size: 10pt"><b>Name</b></span></td> <td style="text-align: center"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><span style="font-size: 10pt"><b>Background</b></span></td> <td style="text-align: center"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: black 1pt solid; text-align: center"><span style="font-size: 10pt"><b>Ownership</b></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 32%; text-align: left"><span style="font-size: 10pt"><span id="xdx_905_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--VIYITechnologyIncVIYIMember_zn8mzGRV1gQ5" title="Name">VIYI Technology Inc. (“VIYI”)</span></span></td> <td style="width: 2%; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">A Cayman Islands company Incorporated on September 24, 2020</span></td> <td style="width: 2%; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="width: 32%; text-align: left"><span style="font-size: 10pt"><span id="xdx_907_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--VIYITechnologyIncVIYIMember_zPYmleMnFO8k" title="Ownership">100% owned by MicroAlgo</span></span></td></tr> <tr style="vertical-align: top; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt"><span id="xdx_908_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--VIYITechnologyLtdVIYILtdMember_zDS7VCwRyY7k" title="Name">VIYI Technology Ltd. (“VIYI Ltd”)</span></span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">A Hong Kong company</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td rowspan="3" style="text-align: left"><span style="font-size: 10pt"><span id="xdx_90E_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--VIYITechnologyLtdVIYILtdMember_zRxItkgShBK1" title="Ownership">100% owned by VIYI</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">Incorporated on October 9, 2020</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">A holding company</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt"><span id="xdx_903_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShenzhenWeiyixinTechnologyCoLtdShenzhenWeiyixinOrVIYIWFOEMember_z1AebMASZQy6" title="Name">Shenzhen Weiyixin Technology Co., Ltd. (“Shenzhen Weiyixin”or “VIYI WFOE”)</span></span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">A PRC limited liability company and deemed a wholly foreign owned enterprise (“WFOE”)</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td rowspan="2" style="text-align: left"><span style="font-size: 10pt"><span id="xdx_900_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShenzhenWeiyixinTechnologyCoLtdShenzhenWeiyixinOrVIYIWFOEMember_zUfxW1qgSQD9" title="Ownership">100% owned by VIYI Ltd </span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">Incorporated on November 18, 2020 </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">A holding company</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt"><span id="xdx_90E_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShenzhenYitianInternetTechnologyCoLtdShenzhenYitianMember_ztF29VnzFhsl" title="Name">Shenzhen Yitian Internet Technology Co., Ltd. (“Shenzhen Yitian”)</span></span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">A PRC limited liability company</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td rowspan="3" style="text-align: left"><span style="font-size: 10pt"><span id="xdx_90C_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShenzhenYitianInternetTechnologyCoLtdShenzhenYitianMember_zqANLflVj4p5" title="Ownership">100% owned by Beijing WiMi before December 24, 2020, VIE of Shenzhen Weiyixin starting on December 24, 2020. 100% owned by Shenzhen Weiyixin starting April 1, 2022</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">Incorporated on March 08, 2011</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">Primarily engages central processing algorithm</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Nature of business and organization (Details)"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"><span style="font-size: 10pt"><b>Name</b></span></td> <td style="text-align: center"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><span style="font-size: 10pt"><b>Background</b></span></td> <td style="text-align: center"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: black 1pt solid; text-align: center"><span style="font-size: 10pt"><b>Ownership</b></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left; width: 32%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShenzhenQianhaiWangxinTechnologyCoLtdShenzhenQianhaiMember_zXGDuzdpSBBa" title="Name">Shenzhen Qianhai Wangxin Technology Co., Ltd. (“Shenzhen Qianhai”)</span></span></td> <td style="text-align: left; width: 2%"> </td> <td style="text-align: left; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A PRC limited liability company </span></td> <td style="text-align: left; width: 2%"> </td> <td rowspan="3" style="text-align: left; width: 32%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShenzhenQianhaiWangxinTechnologyCoLtdShenzhenQianhaiMember_zAEPo2jYwKql" title="Ownership">100% owned by Shenzhen Yitian</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated on October 16, 2015 </span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Primarily engages in central processing algorithm in advertising industry</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShenzhenYiyouOnlineTechnologyCoLtdYYOnlineMember_zsyrqT1q2g61" title="Name">Shenzhen Yiyou Online Technology Co., Ltd. (“YY Online”)</span></span></td> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A PRC limited liability company </span></td> <td style="text-align: left"> </td> <td rowspan="3" style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShenzhenYiyouOnlineTechnologyCoLtdYYOnlineMember_z57O4DiElyw3" title="Ownership">100% owned by Shenzhen Yitian before January 11, 2021; 100% owned by Weidong after January 11, 2021; Disposed in May 2024</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left">●</td> <td style="text-align: left">Incorporated on January 14, 2019</td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left">●</td> <td style="text-align: left">Primarily engages in central processing algorithm in advertising industry</td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: top; background-color: White"> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--HainanWeidongTechnologyCoLtdWeidongMember_zKiwHoVxHxsa" title="Name">Hainan Weidong Technology Co., Ltd. (“Weidong”)</span></span></td> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A PRC limited liability company</span></td> <td style="text-align: left"> </td> <td rowspan="3" style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--HainanWeidongTechnologyCoLtdWeidongMember_zaOBef2vvsR4" title="Ownership">100% owned by Shenzhen Yitian before January 11, 2021; 100% owned by Shenzhen Weiyixin after January 11, 2021</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated on October 28, 2020</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Primarily engages in central processing algorithm in advertising industry</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--KhorgasWeidongTechnologyCoLtdKorgasWeidongMember_zWid5XESSVvl" title="Name">Khorgas Weidong Technology Co., Ltd. (“Khorgas Weidong”)</span></span></td> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A PRC limited liability company</span></td> <td style="text-align: left"> </td> <td rowspan="3" style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--KhorgasWeidongTechnologyCoLtdKorgasWeidongMember_z5U3cJta9x8f" title="Ownership">100% owned by Weidong before July 14, 2021; 100% owned by Shanghai Guoyu after July 14, 2021; dissolved on December 30, 2024</span> </span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated on October 30, 2020</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Primarily engages in central processing algorithm in advertising industry</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShanghaiWeimuTechnologyCoLtdShanghaiWeimuMember_z23kwu60Q10h" title="Name">Shanghai Weimu Technology Co., Ltd. (“Shanghai Weimu”)</span></span></td> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A PRC limited liability company</span></td> <td style="text-align: left"> </td> <td rowspan="3" style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShanghaiWeimuTechnologyCoLtdShanghaiWeimuMember_zuOEycGrSOa8" title="Ownership">58% owned by Shenzhen Weiyixin</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated on November 30, 2020</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Engages in providing software support services</span></td> <td style="text-align: left"> </td></tr> </table> <p style="margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Nature of business and organization (Details)"> <tr style="background-color: rgb(204,238,255)"> <td rowspan="3" style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; vertical-align: top; width: 32%"> <span id="xdx_905_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--WeiyiYuliangBeijingScienceTechnologyCenterLimitedPartnershipWeiyiyuliangMember_zxul4N83eSyj" title="Name">Weiyi Yuliang (Beijing) Science Technology Center (Limited Partnership) (“Weiyiyuliang”)</span></td> <td style="vertical-align: top; width: 2%; line-height: 115%"> </td> <td style="vertical-align: top; width: 0.25in; line-height: 115%">●</td> <td style="vertical-align: top; line-height: 115%">A PRC Limited Partnership</td> <td style="width: 2%; line-height: 115%"> </td> <td rowspan="2" style="vertical-align: top; width: 32%; line-height: 115%"><span id="xdx_901_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--WeiyiYuliangBeijingScienceTechnologyCenterLimitedPartnershipWeiyiyuliangMember_zG7ksRHtpb8f" title="Ownership">50% owned by Shenzhen Weiyixin</span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="line-height: 115%"> </td> <td style="line-height: 115%">●</td> <td style="line-height: 115%">Incorporated on June 20, 2024</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="line-height: 115%"> </td> <td style="line-height: 115%">●</td> <td style="line-height: 115%">No operations as of December 31, 2024</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; width: 32%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_909_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--CDDICapitalLtdMember_zD2UseyHpPaa" title="Name">CDDI Capital Ltd (“CDDI”)</span></span></td> <td style="text-align: left; width: 2%"> </td> <td style="text-align: left; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A British Virgin Islands company</span></td> <td style="text-align: left; width: 2%"> </td> <td rowspan="3" style="text-align: left; width: 32%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--CDDICapitalLtdMember_zdMvy8ebZMi8" title="Ownership">100% owned by VIYI Ltd</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated on June 5, 2023</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A holding company</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--VIWOTechnologyIncMember_z0AkaF2YrEua" title="Name">VIWO Technology Inc. (“VIWO Cayman”)</span></span></td> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A Cayman Islands company</span></td> <td style="text-align: left"> </td> <td rowspan="3" style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--VIWOTechnologyIncMember_zpHnSDkBWMwb" title="Ownership">55% owned by CDDI</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated on June 27, 2023</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A holding company</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="4" style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_903_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ViwoTechnologyLimitedViwoTechMember_zGy9coNuWSZj" title="Name">Viwo Technology Limited. (“Viwo Tech”)</span></span></td> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A Hong Kong company</span></td> <td style="text-align: left"> </td> <td rowspan="4" style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ViwoTechnologyLimitedViwoTechMember_zfYBLfxStXlc" title="Ownership">100% owned by VIWO Cayman</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated on April 15, 2021</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Engages in intelligent chips design</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-align: left"><span style="font-size: 1pt"> </span></td> <td style="text-align: left"><span style="font-size: 1pt"> </span></td> <td style="text-align: left"><span style="font-size: 1pt"> </span></td> <td style="text-align: left"><span style="font-size: 1pt"> </span></td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in"> </td> <td> </td> <td> </td> <td style="text-align: left"> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; vertical-align: top"><span id="xdx_909_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ViwoTechnologyHkCo.LimitedViwoHkMember_zYC21GC4kQUf" title="Name">VIWO Technology (HK) Co., Limited (“VIWO HK”)</span></td> <td> </td> <td><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">A Hong Kong company</span></td> <td> </td> <td style="text-align: left"><span style="font-size: 10pt"><span id="xdx_90F_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ViwoTechnologyHkCo.LimitedViwoHkMember_z9ZQ0sJbmYe5" title="Ownership">100% owned by VIWO Cayman</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td> </td> <td><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">Incorporated on December 20, 2023</span></td> <td> </td> <td> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td> </td> <td><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">A holding company</span></td> <td> </td> <td> </td></tr> </table> <p style="margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Nature of business and organization (Details)"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"><span style="font-size: 10pt"><b>Name</b></span></td> <td style="text-align: center"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><span style="font-size: 10pt"><b>Background</b></span></td> <td style="text-align: center"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: black 1pt solid; text-align: center"><span style="font-size: 10pt"><b>Ownership</b></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="2" style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left; width: 32%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShenzhenViwotongTechnologyCoLtdSZViwotongMember_zhmj56EOmezd" title="Name">Shenzhen Viwotong Technology Co., Ltd. (“SZ Viwotong”)</span></span></td> <td style="text-align: left; width: 2%"> </td> <td style="text-align: left; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A PRC limited liability company</span></td> <td style="text-align: left; width: 2%"> </td> <td rowspan="2" style="text-align: left; width: 32%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShenzhenViwotongTechnologyCoLtdSZViwotongMember_zpykTgCCVYq1" title="Ownership">100% owned by Viwo Tech</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated on July 19, 2021</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShanghaiGuoyuInformationTechnologyCoLtdShanghaiGuoyuMember_zMb99FQ2sQR5" title="Name">Shanghai Guoyu Information Technology Co., Ltd. (“Shanghai Guoyu”)</span></span></td> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A PRC limited liability company</span></td> <td style="text-align: left"> </td> <td rowspan="3" style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShanghaiGuoyuInformationTechnologyCoLtdShanghaiGuoyuMember_zETuGylaJ3w5" title="Ownership">99% owned by Weidong, 1% owned by SZ Weidong</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated on March 18, 2019</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Engages in R&amp;D and application of intelligent visual algorithm technology</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt"><span id="xdx_900_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--GuangzhouTapuyuInternetTechnologyCoLtdTapuyuMember_zowMBH5j8N01" title="Name">Guangzhou Tapuyu Internet Technology Co., Ltd. (“Tapuyu”)</span></span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">A PRC limited liability company</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td rowspan="3" style="text-align: left"><span style="font-size: 10pt"><span id="xdx_904_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--GuangzhouTapuyuInternetTechnologyCoLtdTapuyuMember_zRQXuweGrEm9" title="Ownership">100% owned by SZ Viwotong from December 1, 2021 to February 6, 2024; 100% owned by BJ Viwotong from February 6, 2024 to November 21, 2024; 100% owned by BJ Weiyun after November 21, 2024</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">Incorporated on June 22, 2021</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">Engages in central processing algorithm in advertising industry</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt"><span id="xdx_90F_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--BeijingYounikeInformationTechnologyCoLtdYounikeMember_zIAWWcaADgJf" title="Name">Beijing Younike Information Technology Co., Ltd. (“Younike”)</span></span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">A PRC limited liability company</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td rowspan="3" style="text-align: left"><span style="font-size: 10pt"><span id="xdx_905_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--BeijingYounikeInformationTechnologyCoLtdYounikeMember_zYYYwKvrBsFi" title="Ownership">100% owned by SZ Viwotong from January 1, 2023 to February 28, 2024; 100% owned by BJ Viwotong from February 28, 2024 to November 11, 2024; 100% owned by BJ Weiyun after November 11, 2024</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">Incorporated on July 22, 2022</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">Engages in central processing algorithm in advertising industry</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt"><span id="xdx_90B_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShenzhenWeidongTechnologyCoLtdSZWeidongMember_ztp5JKI6ES49" title="Name">Shenzhen Weidong Technology Co., Ltd. (“SZ Weidong”)</span></span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">A PRC limited liability company</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td rowspan="3" style="text-align: left"><span style="font-size: 10pt"><span id="xdx_907_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShenzhenWeidongTechnologyCoLtdSZWeidongMember_zvEMSc6Fwdod" title="Ownership">100% owned by Weidong</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">Incorporated on March 27, 2023</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">Primarily engages in central processing algorithm in advertising industry</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="background-color: White"> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td> </td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td rowspan="3" style="text-align: left; text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-size: 10pt"><span id="xdx_909_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--BeijingViwotongTechnologyCoLtdBJViwotongMember_z22bWWDDgNtk" title="Name">Beijing Viwotong Technology Co., Ltd. (“BJ Viwotong”)</span></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td> <td><span style="font-size: 10pt">●</span></td> <td><span style="font-size: 10pt">A PRC limited liability company</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td> <td rowspan="3" style="text-align: justify"><span style="font-size: 10pt"><span id="xdx_906_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--BeijingViwotongTechnologyCoLtdBJViwotongMember_zqmeGGFN4VL8" title="Ownership">100% owned by VIWO HK</span></span></td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td> <td><span style="font-size: 10pt">●</span></td> <td><span style="font-size: 10pt">Incorporated on January 24, 2024</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td> <td><span style="font-size: 10pt">●</span></td> <td><span style="font-size: 10pt">Primarily engages in central processing algorithm in advertising industry</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td></tr> <tr style="vertical-align: top; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td rowspan="3" style="text-align: left; text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-size: 10pt"><span id="xdx_906_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--BeijingWeiyunSpacetimeTechnologyCoLtdBJWeiyunMember_zvRhZEg7O4yj" title="Name">Beijing Weiyun Spacetime Technology Co., Ltd (“BJ Weiyun”)</span></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td> <td><span style="font-size: 10pt">●</span></td> <td><span style="font-size: 10pt">A PRC limited liability company</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td> <td rowspan="3" style="text-align: justify"><span style="font-size: 10pt"><span id="xdx_908_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--BeijingWeiyunSpacetimeTechnologyCoLtdBJWeiyunMember_zF2Z207FkVHi" title="Ownership">100% owned by BJ Viwotong</span></span></td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td> <td><span style="font-size: 10pt">●</span></td> <td><span style="font-size: 10pt">Incorporated on March 7, 2024</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td> <td><span style="font-size: 10pt">●</span></td> <td><span style="font-size: 10pt">Primarily engages in central processing algorithm in advertising industry</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td></tr> </table> <p id="xdx_8A1_zS48kSctMzkh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.5in"> </p> 0.58 0.55 0.99 1 1 1 0.01 0.55 1 1 1 <table cellpadding="0" cellspacing="0" id="xdx_891_ecustom--ScheduleOfAccompanyingConsolidatedFinancialStatementsTableTextBlock_zHHNn93cTbM7" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Nature of business and organization (Details)"> <tr style="vertical-align: bottom"> <td style="vertical-align: bottom; text-align: left"><span id="xdx_8BF_zWw1dP2o8Oug" style="display: none">Schedule of financial statements reflect the activities of MicroAlgo</span></td> <td style="text-align: center"> </td> <td colspan="2" style="text-align: center"> </td> <td style="text-align: center"> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"><span style="font-size: 10pt"><b>Name</b></span></td> <td style="text-align: center"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><span style="font-size: 10pt"><b>Background</b></span></td> <td style="text-align: center"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: black 1pt solid; text-align: center"><span style="font-size: 10pt"><b>Ownership</b></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 32%; text-align: left"><span style="font-size: 10pt"><span id="xdx_905_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--VIYITechnologyIncVIYIMember_zn8mzGRV1gQ5" title="Name">VIYI Technology Inc. (“VIYI”)</span></span></td> <td style="width: 2%; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">A Cayman Islands company Incorporated on September 24, 2020</span></td> <td style="width: 2%; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="width: 32%; text-align: left"><span style="font-size: 10pt"><span id="xdx_907_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--VIYITechnologyIncVIYIMember_zPYmleMnFO8k" title="Ownership">100% owned by MicroAlgo</span></span></td></tr> <tr style="vertical-align: top; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt"><span id="xdx_908_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--VIYITechnologyLtdVIYILtdMember_zDS7VCwRyY7k" title="Name">VIYI Technology Ltd. (“VIYI Ltd”)</span></span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">A Hong Kong company</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td rowspan="3" style="text-align: left"><span style="font-size: 10pt"><span id="xdx_90E_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--VIYITechnologyLtdVIYILtdMember_zRxItkgShBK1" title="Ownership">100% owned by VIYI</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">Incorporated on October 9, 2020</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">A holding company</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt"><span id="xdx_903_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShenzhenWeiyixinTechnologyCoLtdShenzhenWeiyixinOrVIYIWFOEMember_z1AebMASZQy6" title="Name">Shenzhen Weiyixin Technology Co., Ltd. (“Shenzhen Weiyixin”or “VIYI WFOE”)</span></span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">A PRC limited liability company and deemed a wholly foreign owned enterprise (“WFOE”)</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td rowspan="2" style="text-align: left"><span style="font-size: 10pt"><span id="xdx_900_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShenzhenWeiyixinTechnologyCoLtdShenzhenWeiyixinOrVIYIWFOEMember_zUfxW1qgSQD9" title="Ownership">100% owned by VIYI Ltd </span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">Incorporated on November 18, 2020 </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">A holding company</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt"><span id="xdx_90E_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShenzhenYitianInternetTechnologyCoLtdShenzhenYitianMember_ztF29VnzFhsl" title="Name">Shenzhen Yitian Internet Technology Co., Ltd. (“Shenzhen Yitian”)</span></span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">A PRC limited liability company</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td rowspan="3" style="text-align: left"><span style="font-size: 10pt"><span id="xdx_90C_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShenzhenYitianInternetTechnologyCoLtdShenzhenYitianMember_zqANLflVj4p5" title="Ownership">100% owned by Beijing WiMi before December 24, 2020, VIE of Shenzhen Weiyixin starting on December 24, 2020. 100% owned by Shenzhen Weiyixin starting April 1, 2022</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">Incorporated on March 08, 2011</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">Primarily engages central processing algorithm</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Nature of business and organization (Details)"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"><span style="font-size: 10pt"><b>Name</b></span></td> <td style="text-align: center"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><span style="font-size: 10pt"><b>Background</b></span></td> <td style="text-align: center"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: black 1pt solid; text-align: center"><span style="font-size: 10pt"><b>Ownership</b></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left; width: 32%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShenzhenQianhaiWangxinTechnologyCoLtdShenzhenQianhaiMember_zXGDuzdpSBBa" title="Name">Shenzhen Qianhai Wangxin Technology Co., Ltd. (“Shenzhen Qianhai”)</span></span></td> <td style="text-align: left; width: 2%"> </td> <td style="text-align: left; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A PRC limited liability company </span></td> <td style="text-align: left; width: 2%"> </td> <td rowspan="3" style="text-align: left; width: 32%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShenzhenQianhaiWangxinTechnologyCoLtdShenzhenQianhaiMember_zAEPo2jYwKql" title="Ownership">100% owned by Shenzhen Yitian</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated on October 16, 2015 </span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Primarily engages in central processing algorithm in advertising industry</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShenzhenYiyouOnlineTechnologyCoLtdYYOnlineMember_zsyrqT1q2g61" title="Name">Shenzhen Yiyou Online Technology Co., Ltd. (“YY Online”)</span></span></td> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A PRC limited liability company </span></td> <td style="text-align: left"> </td> <td rowspan="3" style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShenzhenYiyouOnlineTechnologyCoLtdYYOnlineMember_z57O4DiElyw3" title="Ownership">100% owned by Shenzhen Yitian before January 11, 2021; 100% owned by Weidong after January 11, 2021; Disposed in May 2024</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left">●</td> <td style="text-align: left">Incorporated on January 14, 2019</td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left">●</td> <td style="text-align: left">Primarily engages in central processing algorithm in advertising industry</td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: top; background-color: White"> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--HainanWeidongTechnologyCoLtdWeidongMember_zKiwHoVxHxsa" title="Name">Hainan Weidong Technology Co., Ltd. (“Weidong”)</span></span></td> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A PRC limited liability company</span></td> <td style="text-align: left"> </td> <td rowspan="3" style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--HainanWeidongTechnologyCoLtdWeidongMember_zaOBef2vvsR4" title="Ownership">100% owned by Shenzhen Yitian before January 11, 2021; 100% owned by Shenzhen Weiyixin after January 11, 2021</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated on October 28, 2020</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Primarily engages in central processing algorithm in advertising industry</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--KhorgasWeidongTechnologyCoLtdKorgasWeidongMember_zWid5XESSVvl" title="Name">Khorgas Weidong Technology Co., Ltd. (“Khorgas Weidong”)</span></span></td> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A PRC limited liability company</span></td> <td style="text-align: left"> </td> <td rowspan="3" style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--KhorgasWeidongTechnologyCoLtdKorgasWeidongMember_z5U3cJta9x8f" title="Ownership">100% owned by Weidong before July 14, 2021; 100% owned by Shanghai Guoyu after July 14, 2021; dissolved on December 30, 2024</span> </span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated on October 30, 2020</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Primarily engages in central processing algorithm in advertising industry</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShanghaiWeimuTechnologyCoLtdShanghaiWeimuMember_z23kwu60Q10h" title="Name">Shanghai Weimu Technology Co., Ltd. (“Shanghai Weimu”)</span></span></td> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A PRC limited liability company</span></td> <td style="text-align: left"> </td> <td rowspan="3" style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShanghaiWeimuTechnologyCoLtdShanghaiWeimuMember_zuOEycGrSOa8" title="Ownership">58% owned by Shenzhen Weiyixin</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated on November 30, 2020</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Engages in providing software support services</span></td> <td style="text-align: left"> </td></tr> </table> <p style="margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Nature of business and organization (Details)"> <tr style="background-color: rgb(204,238,255)"> <td rowspan="3" style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; vertical-align: top; width: 32%"> <span id="xdx_905_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--WeiyiYuliangBeijingScienceTechnologyCenterLimitedPartnershipWeiyiyuliangMember_zxul4N83eSyj" title="Name">Weiyi Yuliang (Beijing) Science Technology Center (Limited Partnership) (“Weiyiyuliang”)</span></td> <td style="vertical-align: top; width: 2%; line-height: 115%"> </td> <td style="vertical-align: top; width: 0.25in; line-height: 115%">●</td> <td style="vertical-align: top; line-height: 115%">A PRC Limited Partnership</td> <td style="width: 2%; line-height: 115%"> </td> <td rowspan="2" style="vertical-align: top; width: 32%; line-height: 115%"><span id="xdx_901_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--WeiyiYuliangBeijingScienceTechnologyCenterLimitedPartnershipWeiyiyuliangMember_zG7ksRHtpb8f" title="Ownership">50% owned by Shenzhen Weiyixin</span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="line-height: 115%"> </td> <td style="line-height: 115%">●</td> <td style="line-height: 115%">Incorporated on June 20, 2024</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="line-height: 115%"> </td> <td style="line-height: 115%">●</td> <td style="line-height: 115%">No operations as of December 31, 2024</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; width: 32%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_909_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--CDDICapitalLtdMember_zD2UseyHpPaa" title="Name">CDDI Capital Ltd (“CDDI”)</span></span></td> <td style="text-align: left; width: 2%"> </td> <td style="text-align: left; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A British Virgin Islands company</span></td> <td style="text-align: left; width: 2%"> </td> <td rowspan="3" style="text-align: left; width: 32%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--CDDICapitalLtdMember_zdMvy8ebZMi8" title="Ownership">100% owned by VIYI Ltd</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated on June 5, 2023</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A holding company</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--VIWOTechnologyIncMember_z0AkaF2YrEua" title="Name">VIWO Technology Inc. (“VIWO Cayman”)</span></span></td> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A Cayman Islands company</span></td> <td style="text-align: left"> </td> <td rowspan="3" style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--VIWOTechnologyIncMember_zpHnSDkBWMwb" title="Ownership">55% owned by CDDI</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated on June 27, 2023</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A holding company</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="4" style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_903_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ViwoTechnologyLimitedViwoTechMember_zGy9coNuWSZj" title="Name">Viwo Technology Limited. (“Viwo Tech”)</span></span></td> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A Hong Kong company</span></td> <td style="text-align: left"> </td> <td rowspan="4" style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ViwoTechnologyLimitedViwoTechMember_zfYBLfxStXlc" title="Ownership">100% owned by VIWO Cayman</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated on April 15, 2021</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Engages in intelligent chips design</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-align: left"><span style="font-size: 1pt"> </span></td> <td style="text-align: left"><span style="font-size: 1pt"> </span></td> <td style="text-align: left"><span style="font-size: 1pt"> </span></td> <td style="text-align: left"><span style="font-size: 1pt"> </span></td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in"> </td> <td> </td> <td> </td> <td style="text-align: left"> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; vertical-align: top"><span id="xdx_909_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ViwoTechnologyHkCo.LimitedViwoHkMember_zYC21GC4kQUf" title="Name">VIWO Technology (HK) Co., Limited (“VIWO HK”)</span></td> <td> </td> <td><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">A Hong Kong company</span></td> <td> </td> <td style="text-align: left"><span style="font-size: 10pt"><span id="xdx_90F_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ViwoTechnologyHkCo.LimitedViwoHkMember_z9ZQ0sJbmYe5" title="Ownership">100% owned by VIWO Cayman</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td> </td> <td><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">Incorporated on December 20, 2023</span></td> <td> </td> <td> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td> </td> <td><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">A holding company</span></td> <td> </td> <td> </td></tr> </table> <p style="margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Nature of business and organization (Details)"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"><span style="font-size: 10pt"><b>Name</b></span></td> <td style="text-align: center"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><span style="font-size: 10pt"><b>Background</b></span></td> <td style="text-align: center"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: black 1pt solid; text-align: center"><span style="font-size: 10pt"><b>Ownership</b></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="2" style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left; width: 32%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShenzhenViwotongTechnologyCoLtdSZViwotongMember_zhmj56EOmezd" title="Name">Shenzhen Viwotong Technology Co., Ltd. (“SZ Viwotong”)</span></span></td> <td style="text-align: left; width: 2%"> </td> <td style="text-align: left; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A PRC limited liability company</span></td> <td style="text-align: left; width: 2%"> </td> <td rowspan="2" style="text-align: left; width: 32%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShenzhenViwotongTechnologyCoLtdSZViwotongMember_zpykTgCCVYq1" title="Ownership">100% owned by Viwo Tech</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated on July 19, 2021</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShanghaiGuoyuInformationTechnologyCoLtdShanghaiGuoyuMember_zMb99FQ2sQR5" title="Name">Shanghai Guoyu Information Technology Co., Ltd. (“Shanghai Guoyu”)</span></span></td> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A PRC limited liability company</span></td> <td style="text-align: left"> </td> <td rowspan="3" style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShanghaiGuoyuInformationTechnologyCoLtdShanghaiGuoyuMember_zETuGylaJ3w5" title="Ownership">99% owned by Weidong, 1% owned by SZ Weidong</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated on March 18, 2019</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Engages in R&amp;D and application of intelligent visual algorithm technology</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt"><span id="xdx_900_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--GuangzhouTapuyuInternetTechnologyCoLtdTapuyuMember_zowMBH5j8N01" title="Name">Guangzhou Tapuyu Internet Technology Co., Ltd. (“Tapuyu”)</span></span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">A PRC limited liability company</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td rowspan="3" style="text-align: left"><span style="font-size: 10pt"><span id="xdx_904_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--GuangzhouTapuyuInternetTechnologyCoLtdTapuyuMember_zRQXuweGrEm9" title="Ownership">100% owned by SZ Viwotong from December 1, 2021 to February 6, 2024; 100% owned by BJ Viwotong from February 6, 2024 to November 21, 2024; 100% owned by BJ Weiyun after November 21, 2024</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">Incorporated on June 22, 2021</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">Engages in central processing algorithm in advertising industry</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt"><span id="xdx_90F_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--BeijingYounikeInformationTechnologyCoLtdYounikeMember_zIAWWcaADgJf" title="Name">Beijing Younike Information Technology Co., Ltd. (“Younike”)</span></span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">A PRC limited liability company</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td rowspan="3" style="text-align: left"><span style="font-size: 10pt"><span id="xdx_905_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--BeijingYounikeInformationTechnologyCoLtdYounikeMember_zYYYwKvrBsFi" title="Ownership">100% owned by SZ Viwotong from January 1, 2023 to February 28, 2024; 100% owned by BJ Viwotong from February 28, 2024 to November 11, 2024; 100% owned by BJ Weiyun after November 11, 2024</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">Incorporated on July 22, 2022</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">Engages in central processing algorithm in advertising industry</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td rowspan="3" style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt"><span id="xdx_90B_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShenzhenWeidongTechnologyCoLtdSZWeidongMember_ztp5JKI6ES49" title="Name">Shenzhen Weidong Technology Co., Ltd. (“SZ Weidong”)</span></span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">A PRC limited liability company</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td rowspan="3" style="text-align: left"><span style="font-size: 10pt"><span id="xdx_907_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--ShenzhenWeidongTechnologyCoLtdSZWeidongMember_zvEMSc6Fwdod" title="Ownership">100% owned by Weidong</span></span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">Incorporated on March 27, 2023</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-size: 10pt">●</span></td> <td style="text-align: left"><span style="font-size: 10pt">Primarily engages in central processing algorithm in advertising industry</span></td> <td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr> <tr style="background-color: White"> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td> </td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td rowspan="3" style="text-align: left; text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-size: 10pt"><span id="xdx_909_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--BeijingViwotongTechnologyCoLtdBJViwotongMember_z22bWWDDgNtk" title="Name">Beijing Viwotong Technology Co., Ltd. (“BJ Viwotong”)</span></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td> <td><span style="font-size: 10pt">●</span></td> <td><span style="font-size: 10pt">A PRC limited liability company</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td> <td rowspan="3" style="text-align: justify"><span style="font-size: 10pt"><span id="xdx_906_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--BeijingViwotongTechnologyCoLtdBJViwotongMember_zqmeGGFN4VL8" title="Ownership">100% owned by VIWO HK</span></span></td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td> <td><span style="font-size: 10pt">●</span></td> <td><span style="font-size: 10pt">Incorporated on January 24, 2024</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td> <td><span style="font-size: 10pt">●</span></td> <td><span style="font-size: 10pt">Primarily engages in central processing algorithm in advertising industry</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td></tr> <tr style="vertical-align: top; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td rowspan="3" style="text-align: left; text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-size: 10pt"><span id="xdx_906_eus-gaap--BusinessAcquisitionNameOfAcquiredEntity_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--BeijingWeiyunSpacetimeTechnologyCoLtdBJWeiyunMember_zvRhZEg7O4yj" title="Name">Beijing Weiyun Spacetime Technology Co., Ltd (“BJ Weiyun”)</span></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td> <td><span style="font-size: 10pt">●</span></td> <td><span style="font-size: 10pt">A PRC limited liability company</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td> <td rowspan="3" style="text-align: justify"><span style="font-size: 10pt"><span id="xdx_908_eus-gaap--EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanDescription_c20250101__20251231__us-gaap--BusinessAcquisitionAxis__custom--BeijingWeiyunSpacetimeTechnologyCoLtdBJWeiyunMember_zF2Z207FkVHi" title="Ownership">100% owned by BJ Viwotong</span></span></td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td> <td><span style="font-size: 10pt">●</span></td> <td><span style="font-size: 10pt">Incorporated on March 7, 2024</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td> <td><span style="font-size: 10pt">●</span></td> <td><span style="font-size: 10pt">Primarily engages in central processing algorithm in advertising industry</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">　</span></td></tr> </table> VIYI Technology Inc. (“VIYI”) 100% owned by MicroAlgo VIYI Technology Ltd. (“VIYI Ltd”) 100% owned by VIYI Shenzhen Weiyixin Technology Co., Ltd. (“Shenzhen Weiyixin”or “VIYI WFOE”) 100% owned by VIYI Ltd Shenzhen Yitian Internet Technology Co., Ltd. (“Shenzhen Yitian”) 100% owned by Beijing WiMi before December 24, 2020, VIE of Shenzhen Weiyixin starting on December 24, 2020. 100% owned by Shenzhen Weiyixin starting April 1, 2022 Shenzhen Qianhai Wangxin Technology Co., Ltd. (“Shenzhen Qianhai”) 100% owned by Shenzhen Yitian Shenzhen Yiyou Online Technology Co., Ltd. (“YY Online”) 100% owned by Shenzhen Yitian before January 11, 2021; 100% owned by Weidong after January 11, 2021; Disposed in May 2024 Hainan Weidong Technology Co., Ltd. (“Weidong”) 100% owned by Shenzhen Yitian before January 11, 2021; 100% owned by Shenzhen Weiyixin after January 11, 2021 Khorgas Weidong Technology Co., Ltd. (“Khorgas Weidong”) 100% owned by Weidong before July 14, 2021; 100% owned by Shanghai Guoyu after July 14, 2021; dissolved on December 30, 2024 Shanghai Weimu Technology Co., Ltd. (“Shanghai Weimu”) 58% owned by Shenzhen Weiyixin Weiyi Yuliang (Beijing) Science Technology Center (Limited Partnership) (“Weiyiyuliang”) 50% owned by Shenzhen Weiyixin CDDI Capital Ltd (“CDDI”) 100% owned by VIYI Ltd VIWO Technology Inc. (“VIWO Cayman”) 55% owned by CDDI Viwo Technology Limited. (“Viwo Tech”) 100% owned by VIWO Cayman VIWO Technology (HK) Co., Limited (“VIWO HK”) 100% owned by VIWO Cayman Shenzhen Viwotong Technology Co., Ltd. (“SZ Viwotong”) 100% owned by Viwo Tech Shanghai Guoyu Information Technology Co., Ltd. (“Shanghai Guoyu”) 99% owned by Weidong, 1% owned by SZ Weidong Guangzhou Tapuyu Internet Technology Co., Ltd. (“Tapuyu”) 100% owned by SZ Viwotong from December 1, 2021 to February 6, 2024; 100% owned by BJ Viwotong from February 6, 2024 to November 21, 2024; 100% owned by BJ Weiyun after November 21, 2024 Beijing Younike Information Technology Co., Ltd. (“Younike”) 100% owned by SZ Viwotong from January 1, 2023 to February 28, 2024; 100% owned by BJ Viwotong from February 28, 2024 to November 11, 2024; 100% owned by BJ Weiyun after November 11, 2024 Shenzhen Weidong Technology Co., Ltd. (“SZ Weidong”) 100% owned by Weidong Beijing Viwotong Technology Co., Ltd. (“BJ Viwotong”) 100% owned by VIWO HK Beijing Weiyun Spacetime Technology Co., Ltd (“BJ Weiyun”) 100% owned by BJ Viwotong <p id="xdx_80B_eus-gaap--SignificantAccountingPoliciesTextBlock_zj4U8LpJDwbe" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><b>Note 2 — <span><span id="xdx_82C_zJokSULVpnRj">Summary of significant accounting policies</span></span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_84F_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zED4wOrUoBl9" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_861_zQ2G7q9n6ENb">Basis of presentation</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The accompanying consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”), regarding financial reporting, and include all normal and recurring adjustments that management of the Company considers necessary for a fair presentation of its financial position and operation results.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_84B_eus-gaap--ConsolidationPolicyTextBlock_zR3FwJvNeoX4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_866_zJyvNCNclozc">Principles of consolidation</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The consolidated financial statements include the financial statements of the Company and its subsidiaries, which include the wholly-foreign owned enterprise (“WFOE”) and subsidiaries over which the Company exercises control and, when applicable, entities for which the Company has a controlling financial interest or is the primary beneficiary. All transactions and balances among the Company and its subsidiaries have been eliminated upon consolidation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_84D_eus-gaap--UseOfEstimates_zMDuy3d1Tf4b" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_861_ziftxG3thcjg">Use of estimates and assumptions</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the periods presented. Significant accounting estimates reflected in the Company’s consolidated financial statements include the useful lives of property and equipment and intangible assets, impairment of long-lived assets and goodwill, allowance for credit losses, provision for contingent liabilities, revenue recognition, right-of-use assets and lease liabilities, deferred taxes and uncertain tax position, purchase price allocations for business combination, the fair value of contingent consideration related to business acquisitions and determination of incremental borrowing rate for operating leases. Actual results could differ from these estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_844_ecustom--ReclassificationPolicyTextBlock_z8dpOXaPr9Qc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_864_zY0tg2iwHBDe">Reclassification</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Certain prior period amounts have been reclassified to conform to the current period presentation. These reclassifications had no effect on previously reported net income, total assets, total liabilities, or stockholders’ equity.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_846_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_z5S3D1HfDWDk" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_864_zLpUBDrkgF5b">Foreign currency translation and other comprehensive income (loss)</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company uses Renminbi (“RMB”) as its reporting currency. The functional currency of MicroAlgo and its subsidiaries which are incorporated in Hong Kong is U.S. dollar, and its subsidiaries which are incorporated in PRC is RMB, which are their respective local currencies based on the criteria of ASC 830, “Foreign Currency Matters”.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">In the consolidated financial statements, the financial information of the Company and other entities located outside of the PRC has been translated into RMB. Assets and liabilities are translated at the exchange rates on the balance sheet date, equity amounts are translated at historical exchange rates, and revenues, expenses, gains and losses are translated using the average rate for the period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The balance sheet amounts, with the exception of shareholders’ equity at December 31, 2024 and 2025 were translated at USD 1.00 to RMB <span id="xdx_900_eus-gaap--ForeignCurrencyTransactionsDescription_c20240101__20241231__us-gaap--IntercompanyForeignCurrencyBalanceByDescriptionAxis__custom--YearEndTranslationRatesMember__srt--CurrencyAxis__currency--CNY_z8CgKvVfLBg7">7.1884 </span>and to RMB <span id="xdx_903_eus-gaap--ForeignCurrencyTransactionsDescription_c20250101__20251231__us-gaap--IntercompanyForeignCurrencyBalanceByDescriptionAxis__custom--YearEndTranslationRatesMember__srt--CurrencyAxis__currency--CNY_zT37UP9B41D">7.0288 </span>respectively. The average translation rates applied to statement of income accounts for the years ended December 31, 2023, 2024 and 2025 were USD 1.00 to RMB <span id="xdx_904_eus-gaap--ForeignCurrencyTransactionsDescription_c20230101__20231231__us-gaap--IntercompanyForeignCurrencyBalanceByDescriptionAxis__custom--AverageTranslationRatesMember__srt--CurrencyAxis__currency--CNY_zXJ7dxOXGGAd">7.0467</span>, RMB <span id="xdx_905_eus-gaap--ForeignCurrencyTransactionsDescription_c20240101__20241231__us-gaap--IntercompanyForeignCurrencyBalanceByDescriptionAxis__custom--AverageTranslationRatesMember__srt--CurrencyAxis__currency--CNY_zn3VmuyBk3i5">7.1217 </span>and RMB <span id="xdx_907_eus-gaap--ForeignCurrencyTransactionsDescription_c20250101__20251231__us-gaap--IntercompanyForeignCurrencyBalanceByDescriptionAxis__custom--AverageTranslationRatesMember__srt--CurrencyAxis__currency--CNY_zoz2XHrTFmX1">7.1429</span>, respectively. The shareholders’ equity accounts were stated at their historical rate. Cash flows are also translated at average translation rates for the periods, therefore, amounts reported on the statement of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated balance sheets. Translation adjustments included in accumulated other comprehensive loss amounted to RMB <span id="xdx_909_ecustom--AccumulatedOtherComprehensiveIncome_iI_pp0p0_c20241231_zT3MAeHEODP4" title="Accumulated other comprehensive income">49,708,261</span> and RMB <span id="xdx_901_ecustom--AccumulatedOtherComprehensiveIncome_iI_pp0p0_c20251231_z5XFNJ7mBH67" title="Accumulated other comprehensive income">99,859,762</span> (USD <span id="xdx_909_ecustom--AccumulatedOtherComprehensiveIncome_iI_pp0p0_uUSD_c20251231_ztjaJDnlAzCc" title="Accumulated other comprehensive income">14,207,228</span>) as of December 31, 2024 and 2025, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_841_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zSAjebt8x9U5" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_86C_zY5uCQ2lDTJf">Cash and cash equivalents</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Cash and cash equivalents primarily consist of bank deposits with original maturities of three months or less, which are unrestricted as to withdrawal and use. Cash and cash equivalents also consist of funds earned from the Company’s operating revenues which were held at third party platform fund accounts which are unrestricted as to immediate use or withdraw. The Company maintains most of its bank accounts in the PRC, HK and US.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_84E_eus-gaap--ReceivablesPolicyTextBlock_zvTAygPzgFol" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_86B_zXiP7hAFJCek">Accounts receivable, net</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Accounts receivable includes trade accounts due from customers. Accounts are considered overdue after 90 days. Management reviews its receivables on a regular basis to determine if the credit loss is adequate and provides allowance when necessary. The credit loss is based on management’s best estimates of specific losses on individual customer exposures, as well as the historical trends of collections. Account balances are charged off against the credit loss after all means of collection have been exhausted and the likelihood of collection is not probable. For the year ended December 31, 2024 and 2025, the Company made RMB nil and RMB nil allowance for credit losses of accounts receivable, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p id="xdx_844_eus-gaap--InvestmentPolicyTextBlock_z7k4l7lL1xSd" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_862_zNvTzg7Du9z">Short-term investments</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Short-term investments are investments in wealth management product with underlying in cash, bonds and equity funds. The investments can be redeemed any time and the investment was recorded at fair value. The gain (loss) from sale of any investments and fair value change are recognized in the statements of income and comprehensive income.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_84B_ecustom--PrepaidServicesFeesPolicyTextBlock_zmSwZh2hubCf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_869_znH74VzpJUp7">Prepaid services fees</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Prepaid services fees are mainly payments made to vendors or services providers for future services. These amounts are refundable and bear no interest. Management reviews its prepaid services fees on a regular basis to determine if the credit loss is adequate and adjusts the credit loss when necessary. As of December 31, 2024 and 2025, RMB <span style="display: none">0</span><span id="xdx_905_ecustom--AllowanceForPrepaidServicesFees_iI_c20241231_zv1HcxfCuncd" title="Prepaid services fees">22,149</span> and RMB <span id="xdx_904_ecustom--AllowanceForPrepaidServicesFees_iI_c20251231_zgWbhRv3ozI6" title="Prepaid services fees">2,790,191</span> (USD <span id="xdx_904_ecustom--AllowanceForPrepaidServicesFees_iI_uUSD_c20251231_z8FtzEHXVevg" title="Prepaid services fees">396,965</span>) credit losses were recognized for prepaid services fees, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_84D_ecustom--OtherReceivablesAndPrepaidExpensesPolicyTextBlock_zHXFASgvHQci" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_864_z2fsfUm8Te3a">Other receivables and prepaid expenses</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Other receivables that are short-term in nature include employee advances to pay certain of the Company’s expenses in the normal course of business and certain short-term deposits. Prepaid expenses included utilities or system services. Credit loss may be established and recorded based on management’s assessment of the likelihood of collection. Management reviews these items on a regular basis to determine if the credit loss is adequate and adjusts the credit loss when necessary. Delinquent account balances are written-off against the credit loss after management has determined that the likelihood of collection is not probable. For the years ended December 31, 2024 and 2025, the Company made RMB <span id="xdx_90E_ecustom--AllowanceForOtherReceivablesAndPrepaidExpenses_iI_pp0p0_c20241231_zMOgfAD6Dye1" title="Allowance for other receivables and prepaid expenses">4,875,364</span> <span></span> and RMB <span id="xdx_90C_ecustom--AllowanceForOtherReceivablesAndPrepaidExpenses_iI_pp0p0_c20251231_z9u7QH8cVEp6" title="Allowance for other receivables and prepaid expenses">6,814,716</span> (USD <span id="xdx_904_ecustom--AllowanceForOtherReceivablesAndPrepaidExpenses_iI_pp0p0_uUSD_c20251231_zdm4hcGRv8c8" title="Allowance for other receivables and prepaid expenses">969,542</span>) credit losses for other receivables.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_849_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zvfsTEeJIuLb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_866_z584kEkd7p92">Property and equipment, net</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Property and equipment are stated at cost less accumulated depreciation and impairment if applicable. Depreciation is computed using the straight-line method over the estimated useful lives of the assets with 5% residual value. The estimated useful lives are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_89C_ecustom--ScheduleOfEstimatedUsefulLivesOfPropertyAndEquipmentNetTableTextBlock_zH5MtSaIlznb" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of significant accounting policies (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left"><span id="xdx_8B0_zKcDHw0MV4qi" style="display: none">Schedule of estimated useful lives of property and equipment, net</span></td> <td style="vertical-align: top; text-align: left"> </td> <td style="vertical-align: top; text-align: center"> </td> <td style="vertical-align: top; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left; padding-bottom: 1pt"> </td> <td style="vertical-align: top; text-align: left; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: top; font-weight: bold; text-align: center">Useful Life</td> <td style="vertical-align: top; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; width: 76%; text-align: left">Office equipment</td> <td style="vertical-align: top; text-align: left; width: 1%"> </td> <td style="vertical-align: top; width: 22%; text-align: center"><span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zCQx5sT9QDTg" title="Estimated useful lives">3</span> years</td> <td style="vertical-align: top; text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Office furniture and fixtures</td> <td style="vertical-align: top; text-align: left"> </td> <td style="vertical-align: top; text-align: center"><span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zq14OXSBvBoe" title="Estimated useful lives">3</span> – <span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zPy2VMQwLUy4" title="Estimated useful lives">5</span> years</td> <td style="vertical-align: top; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Vehicles</td> <td style="vertical-align: top; text-align: left"> </td> <td style="vertical-align: top; text-align: center"><span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zOObb6fiLG47" title="Estimated useful lives">3</span> – <span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zYlopP2yH6a8" title="Estimated useful lives">5</span> years</td> <td style="vertical-align: top; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Leasehold improvements</td> <td style="vertical-align: top; text-align: left"> </td> <td style="vertical-align: top; text-align: center"><span id="xdx_90B_ecustom--PropertyPlanstAndEquipmentEstimatedUsefulLives_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zJ6QaTgtMo38" title="Estimated useful lives">lesser of lease term or expected useful life</span></td> <td style="vertical-align: top; text-align: left"> </td></tr> </table> <p id="xdx_8AE_z1i5UKLMtsTe" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_842_ecustom--LongTermInvestmentsPolicyTextBlock_zqyOraV3X2ej" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_860_zAol4TvvtaYh">Long-term investments</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company accounts for investments with less than 20% of the voting shares and does not have the ability to exercise significant influence over operating and financial policies of the investee using the cost method, included in long-term investments. The Company records these investments at cost in its consolidated financial statements and subsequently records any dividends received from the net accumulated earnings of the investee as income. Dividends received in excess of earnings are considered a return of investment and are recorded as reduction in the cost of the investments.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Equity method investments are evaluated for impairment when facts or circumstances indicate that the fair value of the long-term investments is less than its carrying value. An impairment is recognized when a decline in fair value is determined to be other-than-temporary. The Company reviews several factors to determine whether a loss is other-than-temporary. These factors include, but are not limited to, the: (i) nature of the investment; (ii) cause and duration of the impairment; (iii) extent to which fair value is less than cost; (iv) financial condition and near term prospects of the investments; and (v) ability to hold the security for a period of time sufficient to allow for any anticipated recovery in fair value. As of December 31, 2025, the Company recognized the impairment of RMB <span id="xdx_907_ecustom--ImpairmentLossOfInvestments_iI_c20251231_zmGz2WarXa4f" title="Impairment loss">1,103,089</span> (USD <span id="xdx_90B_ecustom--ImpairmentLossOfInvestments_iI_uUSD_c20251231_zO2VQw8XwKO1" title="Impairment loss">156,938</span>) for the equity method investment, mainly due to the weak financial condition recognized of Shenzhen Weiyixin’s investments in near periods.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_843_eus-gaap--ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_zdcc8OsLgCxk" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_863_z857ZduVlaZk">Impairment for long-lived assets</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Long-lived assets, including property and equipment and intangible assets with finite lives are reviewed for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying value of an asset may not be recoverable. The Company assesses the recoverability of the assets based on the undiscounted future cash flows the assets are expected to generate and recognize an impairment loss when estimated undiscounted future cash flows expected to result from the use of the asset plus net proceeds expected from disposition of the asset, if any, are less than the carrying value of the asset. If an impairment is identified, the Company would reduce the carrying amount of the asset to its estimated fair value based on a discounted cash flows approach or, when available and appropriate, to comparable market values. For the years ended December 31, 2023, 2024 and 2025, RMB <span id="xdx_908_ecustom--ImpairmentOfLongLivedAssets_pp0p0_c20230101__20231231_z057ajP4LGo8" title="Impairment Of Long Lived Assets">6,602,198</span>, RMB nil and RMB nil impairment of long-lived assets was recognized.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in"> </p> <p id="xdx_842_ecustom--ConvertibleNotesPayablePolicyTextBlock_zqosN0ClBNVa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_862_zS2bkta3AxMi">Convertible notes payable</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Convertible notes are debt or equity instruments that either require or permit the investor to convert the instrument into equity securities of the issuer. The Company accounts for its convertible notes in accordance with ASC 470-20 Debt with Conversion and Other Options, whereby the convertible instrument is initially accounted for as a single unit of account, unless it contains a derivative that must be bifurcated from the host contract in accordance with ASC 815-15 Derivatives and hedging – Embedded Derivatives or the substantial premium model in ASC 470-20 Debt – Debt with Conversion and Other Options applies. For the year ended December 31, 2025, the convertible notes payable amounted to nil.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_84C_eus-gaap--BusinessCombinationsPolicy_zNjkLAuE3vHc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_860_zqIt4wWerID7">Business combination</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The purchase price of an acquired company is allocated between tangible and intangible assets acquired and liabilities assumed from the acquired business based on their estimated fair values, with the residual of the purchase price recorded as goodwill. Transaction costs associated with business combinations are expensed as incurred, and are included in general and administrative expenses in the Company’s consolidated statements of operations. The results of operations of the acquired business are included in the Company’s operating results from the date of acquisition.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_842_eus-gaap--FairValueMeasurementPolicyPolicyTextBlock_zGPwIuN38Q3j" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_862_zVpNIzW4JRPa">Fair value measurement</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The accounting standard regarding fair value of financial instruments and related fair value measurements defines financial instruments and requires disclosure of the fair value of financial instruments held by the Company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The accounting standards define fair value, establish a three-level valuation hierarchy for disclosures of fair value measurement and enhance disclosure requirements for fair value measures. The three levels are defined as follow:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.</td> </tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments.</td> </tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">Level 3 inputs to the valuation methodology are unobservable and significant to the fair value.</td> </tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">During the year ended of December 31, 2025, the financial instruments held by the Company were all classified into Level 1, according to the nature of the financial instruments, which were marketable securities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_846_ecustom--WarrantsLiabilitiesPolicyTextBlock_zPLnbhuro1q8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_861_zD3YgR1DhaW5">Warrants liabilities</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company accounts for warrants (Public Warrants or Private Warrants) as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in Financial Accounting Standards Board (“FASB”) ASC 480 and ASC 815, “Derivatives and Hedging” (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own Class A Ordinary shares and whether the warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">For issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of equity at the time of issuance. For issued or modified warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded as liabilities at their initial fair value on the date of issuance, and each balance sheet date thereafter. Changes in the estimated fair value of the warrants are recognized as a non-cash gain or loss on the consolidated statements of operations. The Company has elected to account for its Public Warrants as equity and the Private Warrants as liabilities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_84D_eus-gaap--RevenueRecognitionPolicyTextBlock_zamFdROzhIZ8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_860_zHwTt0djnHT">Revenue recognition</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company adopted Accounting Standards Update (“ASU”) 2014-09 Revenue from Contracts with Customers (ASC Topic 606). The ASU requires the use of a new five-step model to recognize revenue from customer contracts. The five-step model requires that the Company (i) identifies the contract with the customer, (ii) identifies the performance obligations in the contract, (iii) determines the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not occur, (iv) allocates the transaction price to the respective performance obligations in the contract, and (v) recognizes revenue when (or as) the Company satisfies the performance obligation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in"><i>(i)</i></td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"><i>Central Processing Advertising Algorithm Services</i></td> </tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.5in">— Advertising display services</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">For the advertising algorithm advertising display services, the Company’s performance obligation is to identify advertising spaces, embed images or videos into films, shows and short form videos that are hosted by leading online streaming platforms in China. Revenue is recognized at a point in time when the related services have been delivered based on the specific terms of the contract, which are commonly based on specific action (i.e., cost per impression (“CPM”) for online display).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company enters into advertising contracts with advertisers where the amounts charged per specific action are fixed and determinable, the specific terms of the contracts were agreed on by the Company, the advertisers and channel providers, and collectability is probable. Revenue is recognized on a CPM basis as impressions.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company considers itself as provider of the services as it has control of the specified services and products at any time before it is transferred to the customers which is evidenced by (1) the Company is primarily responsible to its customers for products and services offered where the products were designed in house and the Company has customer services team to directly serve the customers; and (2) having latitude in establish pricing. Therefore, the Company acts as the principal of these arrangements and reports revenue earned and costs incurred related to these transactions on a gross basis.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.5in">— Performance-based advertising service</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company provides central processing algorithm performance-based advertising services for its customers, which enable the customers to get the optimal business opportunities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company’s performance obligation is to help customers to accurately match consumers and traffic users, and thereby increasing the conversion rate of product sale using its proprietary data optimization algorithms. The Company’s revenue is recognized at a point when an ender user completes a transaction at a rate specified in contract. Related service fees are generally billed monthly, based on a per transaction basis.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company considers itself as provider of the services as it has control of the specified services and products at any time before it is transferred to the customers which is evidenced by (1) it is primarily responsible to its customers for the services offered where the algorithms and data optimization were designed and performed in house and it has customer services team to directly serve the customers; and (2) having latitude in establish pricing. Therefore, the Company acts as the principal of these arrangements and reports revenue earned and costs incurred related to these transactions on a gross basis.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">In addition, through the Company’s data algorithm optimization, it is able to identify certain end user needs and it facilitates certain value-added services to the end users. The Company engages third party services provider to perform the services. The Company concludes that it does not control the services as the third-party service provider is responsible for providing the service and its responsibility is merely to facilitate the provision of these value-added service to the end users and charges a fee. As such the Company recorded revenue from the value-added services on a net basis when the services are provided by third party service provider.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.5in">— Software development</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company also designs software for central processing units based on customers’ specific needs. The contract is typically fixed priced and does not provide any post contract customer support or upgrades. The Company’s performance obligation is to design, develop, test and install the related software for customers, all of which are considered one performance obligation as the customers do not obtain benefit for each separate service. The duration of the development period is short, usually less than one year.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company’s revenue from software development contracts is generally recognized over time during the development period and the Company has no alternative use of the customized software and application without incurring significant additional costs. Revenue is recognized based on the Company’s measurement of progress towards completion based on output methods when the Company could appropriately measure the customization progress towards completion by reaching certain milestones specified in contracts. Assumptions, risks and uncertainties inherent in the estimates used to measure progress could affect the amount of revenues, receivables and deferred revenues at each reporting period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in"><i>(ii)</i></td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"><i>Sale of intelligent chips</i></td> </tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Starting in September 2020, the Company has also been engaged in resale of intelligent chips products and accessories. The Company typically enters into written contracts with its customer where the rights of the parties, including payment terms, are identified and sales prices to the customers are fixed with no separate sales rebate, discount, or other incentive and no right of return exists on sales of inventory. The Company’s performance obligation is to deliver products according to contract specifications. The Company recognizes gross product revenue at a point in time when the control of products or services are transferred to customers.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">To distinguish a promise to provide products from a promise to facilitate the sale from a third party, the Company considers the guidance of control in ASC 606-10-55-37A and the indicators in 606-10-55-39. The Company considers this guidance in conjunction with the terms in the Company’s arrangements with both suppliers and customers.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">In general, the Company controls the products as it has the obligation to (i) fulfil the products delivery and (ii) bear any inventory risk as legal owners. In addition, when establishing the selling prices for delivery of the resale products, the Company has control to set its selling price to ensure it would generate profit for the products delivery arrangements. The Company believes that all these factors indicate that the Company is acting as a principal in this transaction. As a result, revenue from the sales of products is presented on a gross basis.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify">Contract balances:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company records receivable related to revenue when it has an unconditional right to invoice and receive payment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Payments received from customers before all the relevant criteria for revenue recognition met are recorded as deferred revenue. As of December 31, 2024, deferred revenue totaled RMB <span id="xdx_90C_eus-gaap--DeferredRevenueCurrent_c20241231_pp0p" title="Deferred revenues">3,409,718</span>, all of which was recognized as revenue during the year ended December 31, 2025. As of December 31, 2025, the Company recorded a deferred revenue balance of RMB <span id="xdx_90D_eus-gaap--DeferredRevenueCurrent_c20251231_pp0p" title="Deferred revenues">7,121,109</span> (USD <span id="xdx_90B_eus-gaap--DeferredRevenueCurrent_iI_pp0p0_uUSD_c20251231_zVuIxFJMtuk9" title="Deferred revenues">1,013,133</span>).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company’s disaggregated revenue streams in consideration of the Company’s type of goods and services and sales channels are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_89E_ecustom--DisaggregationOfRevenuesTableTextBlock_zTrO36EcIdC3" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of significant accounting policies (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt"><span id="xdx_8B1_z0diBlxfGe83" style="display: none">Schedule of disaggregation of revenue</span></td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2023</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 52%; text-align: left">Central processing advertising algorithm services</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98C_eus-gaap--Revenues_pp0p0_c20230101__20231231__srt--ProductOrServiceAxis__custom--CentralProcessingAdvertisingAlgorithmServicesMember_zHWBgNBItqzh" style="width: 9%; text-align: right" title="Total revenues">569,906,586</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_989_eus-gaap--Revenues_pp0p0_c20240101__20241231__srt--ProductOrServiceAxis__custom--CentralProcessingAdvertisingAlgorithmServicesMember_zL8gjYRlVgHa" style="width: 9%; text-align: right" title="Total revenues">541,487,420</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98F_eus-gaap--Revenues_pp0p0_c20250101__20251231__srt--ProductOrServiceAxis__custom--CentralProcessingAdvertisingAlgorithmServicesMember_z4MUXbmBXrRh" style="width: 9%; text-align: right" title="Total revenues">422,045,319</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_986_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231__srt--ProductOrServiceAxis__custom--CentralProcessingAdvertisingAlgorithmServicesMember_z2wCNxfByHBe" style="width: 9%; text-align: right" title="Total revenues">60,045,146</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Sales of intelligent chips</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_981_eus-gaap--Revenues_pp0p0_c20230101__20231231__srt--ProductOrServiceAxis__custom--SalesOfIntelligentChipsMember_z13VeYUqAOHa" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues">10,109,828</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_980_eus-gaap--Revenues_pp0p0_c20240101__20241231__srt--ProductOrServiceAxis__custom--SalesOfIntelligentChipsMember_z1gHJrr7KnW2" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues"><span style="-sec-ix-hidden: xdx2ixbrl1268">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_987_eus-gaap--Revenues_pp0p0_c20250101__20251231__srt--ProductOrServiceAxis__custom--SalesOfIntelligentChipsMember_zDgDiUB67Cn7" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues"><span style="-sec-ix-hidden: xdx2ixbrl1270">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_985_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231__srt--ProductOrServiceAxis__custom--SalesOfIntelligentChipsMember_zUV1eX08iKbh" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues"><span style="-sec-ix-hidden: xdx2ixbrl1272">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 2.5pt">Total revenues</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_986_eus-gaap--Revenues_pp0p0_c20230101__20231231_zmIj53GKd74h" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">580,016,414</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98A_eus-gaap--Revenues_pp0p0_c20240101__20241231_zWpZkFwIhaPc" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">541,487,420</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98E_eus-gaap--Revenues_pp0p0_c20250101__20251231_z1giIHaq9kvl" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">422,045,319</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_989_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231_zEw3q7ugVZKg" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">60,045,146</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AB_zsygVL2Xrbx6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company’s revenue by timing of transfer of goods or services is summarized below:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_890_ecustom--ScheduleOfRevenueByTimingOfTransferOfGoodsOrServicesTableTextBlock_zOkf6XvehoGa" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of significant accounting policies (Details 3)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt"><span id="xdx_8BB_zP996g9CLava" style="display: none">Schedule of revenue by timing of transfer of goods or services</span></td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2023</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 52%; text-align: left">Goods and services transferred at a point in time</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_986_eus-gaap--Revenues_pp0p0_c20230101__20231231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zPHxTbLps9vf" style="width: 9%; text-align: right" title="Total revenues">580,016,414</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98D_eus-gaap--Revenues_pp0p0_c20240101__20241231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zLbMBnfTMdTe" style="width: 9%; text-align: right" title="Total revenues">414,763,523</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98B_eus-gaap--Revenues_pp0p0_c20250101__20251231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_z9MPjaR9PJMb" style="width: 9%; text-align: right" title="Total revenues">284,699,784</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98E_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zF7tazwu8Lt6" style="width: 9%; text-align: right" title="Total revenues">40,504,749</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Services transferred over time</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98E_eus-gaap--Revenues_pp0p0_c20230101__20231231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_ziz67jzYySo8" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues"><span style="-sec-ix-hidden: xdx2ixbrl1292">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_989_eus-gaap--Revenues_pp0p0_c20240101__20241231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zA9Bs2BcXoGh" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues">126,723,897</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_980_eus-gaap--Revenues_pp0p0_c20250101__20251231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zYa6Afa9ebMj" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues">137,345,535</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_981_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zfF8nt52CrY" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues">19,540,397</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 2.5pt">Total revenues</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_981_eus-gaap--Revenues_pp0p0_c20230101__20231231_zas5kWDhnsBb" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">580,016,414</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98F_eus-gaap--Revenues_pp0p0_c20240101__20241231_zOXRqQe0QFp" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">541,487,420</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98A_eus-gaap--Revenues_pp0p0_c20250101__20251231_z9Hd62wwOjug" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">422,045,319</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98A_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231_zKabEj68REr9" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">60,045,146</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A5_zKQJtNPmBSM8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company’s revenue by geographic locations is summarized below:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_89B_ecustom--ScheduleOfRevenueByGeographicLocationsTableTextBlock_zgyAoOgozdyf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of significant accounting policies (Details 4)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8B5_zsiaWpk2B902" style="display: none">Schedule of revenue by geographic locations</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2023</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 52%; text-align: left">Mainland PRC revenues</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98C_eus-gaap--Revenues_pp0p0_c20230101__20231231__srt--StatementGeographicalAxis__custom--MainlandPRCMember_zxLXTK4WPJLh" style="width: 9%; text-align: right" title="Total revenues">540,294,309</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_984_eus-gaap--Revenues_pp0p0_c20240101__20241231__srt--StatementGeographicalAxis__custom--MainlandPRCMember_zmup30mzEQB5" style="width: 9%; text-align: right" title="Total revenues">414,763,523</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98C_eus-gaap--Revenues_pp0p0_c20250101__20251231__srt--StatementGeographicalAxis__custom--MainlandPRCMember_z6dmnAmoXyka" style="width: 9%; text-align: right" title="Total revenues">284,699,784</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98B_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231__srt--StatementGeographicalAxis__custom--MainlandPRCMember_zBPjn629aGV" style="width: 9%; text-align: right" title="Total revenues">40,504,749</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Hong Kong revenues</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_988_eus-gaap--Revenues_pp0p0_c20230101__20231231__srt--StatementGeographicalAxis__country--HK_zADBz74aJW77" style="text-align: right" title="Total revenues">29,612,277</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_980_eus-gaap--Revenues_pp0p0_c20240101__20241231__srt--StatementGeographicalAxis__country--HK_zi0BIOWBHBqf" style="text-align: right" title="Total revenues">126,723,897</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_982_eus-gaap--Revenues_pp0p0_c20250101__20251231__srt--StatementGeographicalAxis__country--HK_zyuOmmmDpMCf" style="text-align: right" title="Total revenues">137,345,535</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_984_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231__srt--StatementGeographicalAxis__country--HK_zKHHenNTWLla" style="text-align: right" title="Total revenues">19,540,397</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">International revenues</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_988_eus-gaap--Revenues_pp0p0_c20230101__20231231__srt--StatementGeographicalAxis__custom--InternationalMember_z8sIwhN7F08" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues">10,109,828</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_981_eus-gaap--Revenues_pp0p0_c20240101__20241231__srt--StatementGeographicalAxis__custom--InternationalMember_zckLoMMpo5J1" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues"><span style="-sec-ix-hidden: xdx2ixbrl1328">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98F_eus-gaap--Revenues_pp0p0_c20250101__20251231__srt--StatementGeographicalAxis__custom--InternationalMember_zqRrC47yWnz2" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues"><span style="-sec-ix-hidden: xdx2ixbrl1330">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_988_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231__srt--StatementGeographicalAxis__custom--InternationalMember_z0XYp4TWy4eh" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues"><span style="-sec-ix-hidden: xdx2ixbrl1332">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 2.5pt">Total revenues</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_987_eus-gaap--Revenues_pp0p0_c20230101__20231231_zFPuKP5SN089" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">580,016,414</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_989_eus-gaap--Revenues_pp0p0_c20240101__20241231_zLxh7dva2qxc" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">541,487,420</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98F_eus-gaap--Revenues_pp0p0_c20250101__20251231_zMdOc70IP2v4" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">422,045,319</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_981_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231_zm6Jcsz1eWD3" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">60,045,146</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A5_zhTZLMzda39i" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_84A_ecustom--CostOfRevenuesPolicyTextBlock_zZqPgWtj8zte" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_86B_z0gdvO0otxI">Cost of revenue</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Cost of revenue for central processing algorithm services comprised of costs paid to channel distributors based on the sales agreements, shared costs with content providers based on the profit-sharing arrangements, third party consulting services expenses and compensation expenses for the Company’s professionals.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">For software development services, the cost of revenue includes the costs paid to the development vendors during the process of software development.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">For intelligent chip and services, the cost of revenue consists primarily of the costs of products sold and third-party software development costs.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_848_ecustom--CostAllocationPolicyTextBlock_zYfacTAMDuSf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_863_zzMKOfHedqM2">Cost allocation</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Cost allocation includes allocation of certain general and administrative and financial expenses paid by the Parent Company. General and administrative expenses consist primarily of salary and related expenses of senior management and employees, shared management expenses, including accounting, consulting, legal support services, and other expenses to provide operating support to the related businesses. These allocations are made using a proportional cost allocation method by considering the proportion of revenues, headcounts as well as estimates of time spent on the provision of services attributable to the Company and the related expenses resulted from the acquisition of subsidiary.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_840_eus-gaap--ResearchAndDevelopmentExpensePolicy_zwfL4dh0bQUk" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_865_zqJEuOZHaZch">Research and development</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Research and development expenses include salaries and other compensation-related expenses to the Company’s research and product development personnel, outsourced subcontractors, as well as office rental, depreciation and related expenses for the Company’s research and product development team.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_844_ecustom--ValueAddedTaxesVatAndGoodsAndServicesTaxesGstPolicyTextBlock_zlfAgKFlKE18" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_86A_zi1ltBUwzjqa">Value added taxes (“VAT”) and goods and services taxes (“GST”)</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Revenue represents the invoiced value of service, net of VAT or GST. The VAT and GST are based on gross sales price and VAT rates range up to 13% in China, depending on the type of service provided or product sold, and GST rate is generally 9% in Singapore. Entities that are VAT/GST general taxpayers are allowed to offset qualified input VAT/GST paid to suppliers against their output VAT/GST liabilities. Net VAT/GST balance between input VAT/GST and output VAT/GST is recorded in tax payable. All of the VAT/GST returns filed by the Company’s subsidiaries in China and Singapore, have been and remain subject to examination by the tax authorities for five years from the date of filing.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_84D_eus-gaap--IncomeTaxPolicyTextBlock_zwwAUix8QR6b" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_862_zd4f2u4qU9i1">Income taxes</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company accounts for current income taxes in accordance with the laws of the relevant tax authorities. The charge for taxation is based on the results for the fiscal year as adjusted for items, which are non-assessable or disallowed. It is calculated using tax rates that have been enacted or substantively enacted by the balance sheet date.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Deferred taxes are accounted for using the asset and liability method in respect of temporary differences arising from differences between the carrying amount of assets and liabilities in the consolidated financial statements and the corresponding tax basis used in the computation of assessable tax profit. In principle, deferred tax liabilities are recognized for all taxable temporary differences. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which deductible temporary differences can be utilized. Deferred tax is calculated using tax rates that are expected to apply to the period when the asset is realized or the liability is settled. Deferred tax is charged or credited in the income statement, except when it is related to items credited or charged directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided for in accordance with the laws of the relevant taxing authorities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">An uncertain tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. No penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_84E_ecustom--OtherIncomeNetPolicyTextBlock_z3d3tO3pJag6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_86E_zCsFPD6MdNg1">Other income (expenses), net</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Other income (expenses), net mainly includes government subsidies which are amounts granted by local government authorities as an incentive for companies to promote development of the local technology industry. The Company receives government subsidies related to government sponsored projects and records such government subsidies as a liability when it is received. The Company records government subsidies as other income when there is no further performance obligation. Total government subsidies amounted to RMB <span id="xdx_909_ecustom--GovernmentSubsidies_pp0p0_c20240101__20241231_zYWdfXjLh0Zk" title="Government subsidies">7,037</span> and RMB <span id="xdx_904_ecustom--GovernmentSubsidies_pp0p0_c20250101__20251231_zFIELrFfW3Je" title="Government subsidies">100,717</span> (USD <span id="xdx_901_ecustom--GovernmentSubsidies_pp0p0_uUSD_c20250101__20251231_zD332t21Idhe" title="Government subsidies">14,329</span>) for the years ended December 31, 2024 and 2025, respectively. As of December 31, 2024 and 2025, total amount of other income (expenses), net was RMB <span id="xdx_90A_eus-gaap--OtherIncome_iN_pp0p0_di_c20240101__20241231_zlNrfsWzBKWi" title="Other income">47,655</span> and RMB <span id="xdx_908_eus-gaap--OtherIncome_iN_pp0p0_di_c20250101__20251231_zosBVNOQthW1" title="Other income">469,838</span> (USD <span id="xdx_903_eus-gaap--OtherIncome_iN_pp0p0_di_uUSD_c20250101__20251231_zvPeCt0g4e58" title="Other income">66,844</span>), respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_845_eus-gaap--LesseeOperatingLeasesTextBlock_zErqCwbbjau7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_86C_zZXgkIMgYs3f">Leases</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company adopted FASB ASU 2016-02, “Leases” (Topic 842), and elected the practical expedients that does not require us to reassess: (1) whether any expired or existing contracts are, or contain, leases, (2) lease classification for any expired or existing leases and (3) initial direct costs for any expired or existing leases. For lease terms of twelve months or fewer, a lessee is permitted to make an accounting policy election not to recognize lease assets and liabilities. The Company also adopted the practical expedient that allows lessees to treat the lease and non-lease components of a lease as a single lease component.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Operating lease ROU assets and lease liabilities are recognized at the adoption date or the commencement date, whichever is earlier, based on the present value of lease payments over the lease term. Since the implicit rate for the Company’s leases is not readily determinable, the Company use its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The incremental borrowing rate is the rate of interest that the Company would have to pay to borrow, on a collateralized basis, an amount equal to the lease payments, in a similar economic environment and over a similar term.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Lease terms used to calculate the present value of lease payments generally do not include any options to extend, renew, or terminate the lease, as the Company does not have reasonable certainty at lease inception that these options will be exercised. The Company generally considers the economic life of its operating lease ROU assets to be comparable to the useful life of similar owned assets. The Company has elected the short-term lease exception, therefore operating lease ROU assets and liabilities do not include leases with a lease term of twelve months or less. Its leases generally do not provide a residual guarantee. The operating lease ROU asset also excludes lease incentives. Lease expense is recognized on a straight-line basis over the lease term.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company reviews the impairment of its ROU assets consistent with the approach applied for its other long-lived assets. The Company reviews the recoverability of its long-lived assets when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment of possible impairment is based on its ability to recover the carrying value of the asset from the expected undiscounted future pre-tax cash flows of the related operations. The Company has elected to include the carrying amount of operating lease liabilities in any tested asset group and include the associated operating lease payments in the undiscounted future pre-tax cash flows.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_846_eus-gaap--CompensationRelatedCostsPolicyTextBlock_zfB6zh42dvSd" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_863_zFs8pi0O3tId">Share-based compensation</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company records share-based compensation expense for employees and non-employees at fair value on the grant date. Share-based compensation is recognized net of forfeitures, as amortized expense on a straight-line basis over the requisite service period, which is the vesting period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company accounts for share-based compensation expenses using an estimated forfeiture rate at the time of grant and revising, if necessary, in subsequent periods if actual forfeitures differ from initial estimates. Share-based compensation expenses are recorded net of estimated forfeitures such that expenses are recorded only for those share-based awards that are expected to vest.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_846_ecustom--EmployeeBenefitsPolicyTextBlock_zRh13CCVHQP8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_864_zZTEs6vGvfg3">Employee benefit</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The full-time employees of the Company are entitled to staff welfare benefits including medical care, housing fund, pension benefits, unemployment insurance and other welfare, which are government mandated defined contribution plans. The Company is required to accrue for these benefits based on certain percentages of the employees’ respective salaries, subject to certain ceilings, in accordance with the relevant PRC regulations, and make cash contributions to the state-sponsored plans out of the amounts accrued. Total expenses for the plans were RMB <span id="xdx_90B_eus-gaap--LaborAndRelatedExpense_pp0p0_c20230101__20231231_zmBPGpoNXS9l" title="Total expenses">1,683,474</span>, RMB <span id="xdx_90C_eus-gaap--LaborAndRelatedExpense_pp0p0_c20240101__20241231_zqI5v6eXk2ya" title="Total expenses">1,515,078</span> and RMB <span id="xdx_908_eus-gaap--LaborAndRelatedExpense_pp0p0_c20250101__20251231_zWOySlw5qANe" title="Total expenses">1,565,867</span> (USD <span id="xdx_901_eus-gaap--LaborAndRelatedExpense_pp0p0_uUSD_c20250101__20251231_zySuV2wgTTua" title="Total expenses">222,779</span>) for the years ended December 31, 2023, 2024 and 2025, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_84E_ecustom--NoncontrollingInterestsPolicyTextBlock_zXkTNyvwNby1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_86A_z51bmW0A6hkd">Noncontrolling interests</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Noncontrolling interest consists of an aggregate of <span id="xdx_90A_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20251231__srt--OwnershipAxis__custom--ShanghaiWeimuMember_za9iRfI9VDn8">42%</span> of the equity interest of Shanghai Weimu<b>, </b><span id="xdx_90F_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20251231__srt--OwnershipAxis__custom--ViwoTechMember_z69D6x7pF747">45%</span> of equity interest of Viwo Tech, held by other investors. Excess of contribution received from noncontrolling shareholders over carrying value of the entity is recorded in additional paid in capital. The noncontrolling interests are presented in the consolidated balance sheets, separately from equity attributable to the shareholders of the Company. Noncontrolling interests in the results of the Company are presented on the face of the consolidated statement of operations as an allocation of the total income or loss for the year between non-controlling interest holders and the shareholders of the Company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Noncontrolling interests consist of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_896_ecustom--ScheduleOfNoncontrollingInterestsTableTextBlock_ziiZAJACAAQ9" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of significant accounting policies (Details 5)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8B9_zLcfePQAk2n4" style="display: none">Schedule of noncontrolling interests</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">Shanghai Weimu</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_985_ecustom--NoncontrollingInterests_pp0p0_c20241231__srt--OwnershipAxis__custom--ShanghaiWeimuMember_zDCo8psXGuC3" style="width: 9%; text-align: right" title="Total">4,495,040</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_989_ecustom--NoncontrollingInterests_pp0p0_c20251231__srt--OwnershipAxis__custom--ShanghaiWeimuMember_zrLfsFkqweB7" style="width: 9%; text-align: right" title="Total">2,512,517</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_989_ecustom--NoncontrollingInterests_iI_pp0p0_uUSD_c20251231__srt--OwnershipAxis__custom--ShanghaiWeimuMember_zTqVMhtsNo8a" style="width: 9%; text-align: right" title="Total">357,460</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Viwo Tech</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98B_ecustom--NoncontrollingInterests_pp0p0_c20241231__srt--OwnershipAxis__custom--ViwoTechMember_zr1c8PFc3kg9" style="border-bottom: Black 1pt solid; text-align: right" title="Total">13,092,921</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98A_ecustom--NoncontrollingInterests_pp0p0_c20251231__srt--OwnershipAxis__custom--ViwoTechMember_zrt4mw9x7J5e" style="border-bottom: Black 1pt solid; text-align: right" title="Total">28,729,950</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98C_ecustom--NoncontrollingInterests_iI_pp0p0_uUSD_c20251231__srt--OwnershipAxis__custom--ViwoTechMember_zrxcWNsScie" style="border-bottom: Black 1pt solid; text-align: right" title="Total">4,087,462</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 2.5pt">Total noncontrolling interests</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_983_ecustom--NoncontrollingInterests_pp0p0_c20241231_zJdy6MMWNfq9" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">17,587,961</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98C_ecustom--NoncontrollingInterests_iI_pp0p0_c20251231_zeN8hjzXRlSf" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">31,242,467</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98A_ecustom--NoncontrollingInterests_iI_pp0p0_uUSD_c20251231_zsu4GLBeyNQa" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">4,444,922</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AB_zSxQghmTnapc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_84C_eus-gaap--EarningsPerSharePolicyTextBlock_zYncBblkglka" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_86E_zW560NZKl7L3">Earnings per share</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company computes earnings per share (“EPS”) in accordance with ASC 260, “Earnings per Share”. ASC 260 requires companies to present basic and diluted EPS. Basic EPS is measured as net income divided by the weighted average ordinary share outstanding for the period. Diluted EPS presents the dilutive effect on a per share basis of the potential Class A Ordinary shares (e.g., convertible securities, options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential Class A Ordinary shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. During the years ended December 31, 2024 and 2025, the basic shares were 3,669,215 shares and 7,659,818 shares¹, respectively, and the dilutive shares were <span id="xdx_90C_ecustom--DilutiveShares_c20240101__20241231_zbCTr9emJIhj">9,664,959 </span>shares and <span id="xdx_90D_ecustom--DilutiveShares_c20250101__20251231_zz8N8MpVFL1e">7,659,818 </span>shares¹, respectively. During the years ended December 31, 2024 and 2025, the basic earnings per share were RMB 10.52 and RMB 14.87 (USD 2.12), respectively, and the diluted earnings per share were RMB <span id="xdx_901_eus-gaap--EarningsPerShareDiluted_c20240101__20241231_zeQnff8n1e9k">3.99 </span>and RMB <span id="xdx_902_eus-gaap--EarningsPerShareDiluted_c20250101__20251231_z4f1J7jRA3db">14.87 </span>(USD <span id="xdx_904_eus-gaap--EarningsPerShareDiluted_uUSDPShares_c20250101__20251231_zTFzQbwhkMbe">2.12</span>), respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_843_ecustom--StatutoryReservesPolicyTextBlock_z0rGTKotYbE2" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_86E_zRHQ72nJmwi8">Statutory reserves</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Pursuant to the laws applicable to the PRC, PRC entities must make appropriations from after-tax profit to the non-distributable “statutory surplus reserve fund”. Subject to certain cumulative limits, the “statutory surplus reserve fund” requires annual appropriations of 10% of after-tax profit until the aggregated appropriations reach 50% of the registered capital (as determined under accounting principles generally accepted in the PRC (“PRC GAAP”) at each year-end). For foreign invested enterprises and joint ventures in the PRC, annual appropriations should be made to the “reserve fund”. For foreign invested enterprises, the annual appropriation for the “reserve fund” cannot be less than 10% of after-tax profits until the aggregated appropriations reach 50% of the registered capital (as determined under PRC GAAP at each year-end). If the Company has accumulated loss from prior periods, the Company is able to use the current period net income after tax to offset against the accumulate loss.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_84F_eus-gaap--SegmentReportingPolicyPolicyTextBlock_zKLpDxqLNLye" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_86A_zBrs5zkNsf6d">Segment reporting</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">FASB ASC 280, Segment Reporting, establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in financial statements for details on the Company’s business segments.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company uses the management approach to determine reportable operating segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker (“CODM”) for making decisions, allocating resources and assessing performance. The Company’s CODM has been identified as the CEO, who reviews consolidated results when making decisions about allocating resources and assessing performance of the Company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Based on management’s assessment, the Company determined that it has one operating segment and therefore one reportable segment as defined by ASC 280, which is provided central processing algorithm services and intelligent chips and services. All of the Company’s net revenues were generated in the PRC and Hong Kong.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <div style="width: 25%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.25in; font-size: 10pt"><span style="font-size: 10pt"><i>¹</i></span></td> <td style="font-size: 10pt; text-align: justify"><span style="font-size: 10pt"><i>Number of shares has been retrospectively adjusted for the share consolidation (10 to 1, 20 to 1, and 30 to 1) effective March 22, 2024, December 13, 2024 and July 16, 2025.</i></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_847_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zYyt1mPm7bX8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_86E_zoJyj8wfcGHf">Recently issued accounting pronouncements</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">On November 27, 2023, the FASB issued ASU 2024-03, “Income Statement—Reporting Comprehensive Income (Subtopic 220-40): Disaggregation of Income Statement Expenses.” This pronouncement introduces new disclosure requirements aimed at enhancing transparency in financial reporting by requiring disaggregation of specific income statement expense captions. Under the new guidance, entities are required to disclose a breakdown of certain expense categories, such as: employee compensation; depreciation; amortization, and other material components. The disaggregated information can be presented either on the face of the income statement or in the notes to the financial statements, often using a tabular format. The amendments will be effective for fiscal years beginning after December 15, 2025, and interim periods within those fiscal years. Early adoption is permitted. In January 2025, the FASB issued ASU 2025-01, which revises the effective date of ASU 2024-03 (on disclosures about disaggregation of income statement expenses) “to clarify that all public business entities are required to adopt the guidance in annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027”. Entities within the ASU’s scope are permitted to early adopt the ASU. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07"), which expands annual and interim disclosure requirements for reportable segments. On adoption, the disclosure improvements will be applied retrospectively to prior periods presented. The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company disclosures in respect of this ASU are included in <i>Note 19 - Segments</i>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">In December 2023, the FASB issued ASU 2023-09, which is an update to Topic 740, Income Taxes. The amendments in this update related to the rate reconciliation and income taxes paid disclosures improve the transparency of income tax disclosures by requiring (1) adding disclosures of pretax income (or loss) and income tax expense (or benefit) to be consistent with U.S. Securities and Exchange Commission (the “SEC”) Regulation S-X 210.4-08(h), Rules of General Application — General Notes to Financial Statements: Income Tax Expense, and (2) removing disclosures that no longer are considered cost beneficial or relevant. For public business entities, the amendments in this Update are effective for annual periods beginning after December 15, 2024. For entities other than public business entities, the amendments are effective for annual periods beginning after December 15, 2025. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The amendments in this update should be applied on a prospective basis. Retrospective application is permitted. The Company does not plan to early adopt ASU 2023-09 and is evaluating the impact of adoption of ASU 2023-09 on the consolidated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">In June 2025, the Financial Accounting Standards Board (<span style="font-family: Times New Roman, Times, Serif">“</span>FASB<span style="font-family: Times New Roman, Times, Serif">”</span>) issued Accounting Standards Update (<span style="font-family: Times New Roman, Times, Serif">“</span>ASU<span style="font-family: Times New Roman, Times, Serif">”</span>) No. 2025-05- Financial Instruments<span style="font-family: Times New Roman, Times, Serif">—</span>Credit Losses (Topic 326). The current credit loss guidance in Topic 326 requires that an entity consider available information that is relevant to assessing the collectibility of cash flows when developing an estimate of expected credit losses. The historical credit loss experience of financial assets with similar risk characteristics generally provides a basis for an entity<span style="font-family: Times New Roman, Times, Serif">’</span>s assessment of expected credit losses. However, an entity is required to consider adjustments to that information to reflect the extent to which management expects current conditions and reasonable and supportable forecasts to differ from the conditions that existed for the period over which historical information was evaluated. Those adjustments may be qualitative in nature and should reflect current conditions and forecasted changes related to relevant data (such as changes in unemployment rates, property values, commodity values, delinquency, or other factors that are associated with credit losses on the financial asset or in the group of financial assets). In addition, under current guidance, an entity would not consider collection activity after the balance sheet date when developing its estimate of expected credit losses. The amendments will be effective for annual reporting periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods. Early adoption is permitted in both interim and annual reporting periods in which financial statements have not yet been issued or made available for issuance.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 20pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Except as mentioned above, the Company does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the Company’s consolidated balance sheets, statements of income and comprehensive income and statements of cash flows.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_84F_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zED4wOrUoBl9" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_861_zQ2G7q9n6ENb">Basis of presentation</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The accompanying consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”), regarding financial reporting, and include all normal and recurring adjustments that management of the Company considers necessary for a fair presentation of its financial position and operation results.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_84B_eus-gaap--ConsolidationPolicyTextBlock_zR3FwJvNeoX4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_866_zJyvNCNclozc">Principles of consolidation</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The consolidated financial statements include the financial statements of the Company and its subsidiaries, which include the wholly-foreign owned enterprise (“WFOE”) and subsidiaries over which the Company exercises control and, when applicable, entities for which the Company has a controlling financial interest or is the primary beneficiary. All transactions and balances among the Company and its subsidiaries have been eliminated upon consolidation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_84D_eus-gaap--UseOfEstimates_zMDuy3d1Tf4b" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_861_ziftxG3thcjg">Use of estimates and assumptions</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the periods presented. Significant accounting estimates reflected in the Company’s consolidated financial statements include the useful lives of property and equipment and intangible assets, impairment of long-lived assets and goodwill, allowance for credit losses, provision for contingent liabilities, revenue recognition, right-of-use assets and lease liabilities, deferred taxes and uncertain tax position, purchase price allocations for business combination, the fair value of contingent consideration related to business acquisitions and determination of incremental borrowing rate for operating leases. Actual results could differ from these estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_844_ecustom--ReclassificationPolicyTextBlock_z8dpOXaPr9Qc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_864_zY0tg2iwHBDe">Reclassification</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Certain prior period amounts have been reclassified to conform to the current period presentation. These reclassifications had no effect on previously reported net income, total assets, total liabilities, or stockholders’ equity.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_846_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_z5S3D1HfDWDk" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_864_zLpUBDrkgF5b">Foreign currency translation and other comprehensive income (loss)</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company uses Renminbi (“RMB”) as its reporting currency. The functional currency of MicroAlgo and its subsidiaries which are incorporated in Hong Kong is U.S. dollar, and its subsidiaries which are incorporated in PRC is RMB, which are their respective local currencies based on the criteria of ASC 830, “Foreign Currency Matters”.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">In the consolidated financial statements, the financial information of the Company and other entities located outside of the PRC has been translated into RMB. Assets and liabilities are translated at the exchange rates on the balance sheet date, equity amounts are translated at historical exchange rates, and revenues, expenses, gains and losses are translated using the average rate for the period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The balance sheet amounts, with the exception of shareholders’ equity at December 31, 2024 and 2025 were translated at USD 1.00 to RMB <span id="xdx_900_eus-gaap--ForeignCurrencyTransactionsDescription_c20240101__20241231__us-gaap--IntercompanyForeignCurrencyBalanceByDescriptionAxis__custom--YearEndTranslationRatesMember__srt--CurrencyAxis__currency--CNY_z8CgKvVfLBg7">7.1884 </span>and to RMB <span id="xdx_903_eus-gaap--ForeignCurrencyTransactionsDescription_c20250101__20251231__us-gaap--IntercompanyForeignCurrencyBalanceByDescriptionAxis__custom--YearEndTranslationRatesMember__srt--CurrencyAxis__currency--CNY_zT37UP9B41D">7.0288 </span>respectively. The average translation rates applied to statement of income accounts for the years ended December 31, 2023, 2024 and 2025 were USD 1.00 to RMB <span id="xdx_904_eus-gaap--ForeignCurrencyTransactionsDescription_c20230101__20231231__us-gaap--IntercompanyForeignCurrencyBalanceByDescriptionAxis__custom--AverageTranslationRatesMember__srt--CurrencyAxis__currency--CNY_zXJ7dxOXGGAd">7.0467</span>, RMB <span id="xdx_905_eus-gaap--ForeignCurrencyTransactionsDescription_c20240101__20241231__us-gaap--IntercompanyForeignCurrencyBalanceByDescriptionAxis__custom--AverageTranslationRatesMember__srt--CurrencyAxis__currency--CNY_zn3VmuyBk3i5">7.1217 </span>and RMB <span id="xdx_907_eus-gaap--ForeignCurrencyTransactionsDescription_c20250101__20251231__us-gaap--IntercompanyForeignCurrencyBalanceByDescriptionAxis__custom--AverageTranslationRatesMember__srt--CurrencyAxis__currency--CNY_zoz2XHrTFmX1">7.1429</span>, respectively. The shareholders’ equity accounts were stated at their historical rate. Cash flows are also translated at average translation rates for the periods, therefore, amounts reported on the statement of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated balance sheets. Translation adjustments included in accumulated other comprehensive loss amounted to RMB <span id="xdx_909_ecustom--AccumulatedOtherComprehensiveIncome_iI_pp0p0_c20241231_zT3MAeHEODP4" title="Accumulated other comprehensive income">49,708,261</span> and RMB <span id="xdx_901_ecustom--AccumulatedOtherComprehensiveIncome_iI_pp0p0_c20251231_z5XFNJ7mBH67" title="Accumulated other comprehensive income">99,859,762</span> (USD <span id="xdx_909_ecustom--AccumulatedOtherComprehensiveIncome_iI_pp0p0_uUSD_c20251231_ztjaJDnlAzCc" title="Accumulated other comprehensive income">14,207,228</span>) as of December 31, 2024 and 2025, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> 7.1884 7.0288 7.0467 7.1217 7.1429 49708261 99859762 14207228 <p id="xdx_841_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zSAjebt8x9U5" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_86C_zY5uCQ2lDTJf">Cash and cash equivalents</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Cash and cash equivalents primarily consist of bank deposits with original maturities of three months or less, which are unrestricted as to withdrawal and use. Cash and cash equivalents also consist of funds earned from the Company’s operating revenues which were held at third party platform fund accounts which are unrestricted as to immediate use or withdraw. The Company maintains most of its bank accounts in the PRC, HK and US.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_84E_eus-gaap--ReceivablesPolicyTextBlock_zvTAygPzgFol" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_86B_zXiP7hAFJCek">Accounts receivable, net</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Accounts receivable includes trade accounts due from customers. Accounts are considered overdue after 90 days. Management reviews its receivables on a regular basis to determine if the credit loss is adequate and provides allowance when necessary. The credit loss is based on management’s best estimates of specific losses on individual customer exposures, as well as the historical trends of collections. Account balances are charged off against the credit loss after all means of collection have been exhausted and the likelihood of collection is not probable. For the year ended December 31, 2024 and 2025, the Company made RMB nil and RMB nil allowance for credit losses of accounts receivable, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p id="xdx_844_eus-gaap--InvestmentPolicyTextBlock_z7k4l7lL1xSd" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_862_zNvTzg7Du9z">Short-term investments</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Short-term investments are investments in wealth management product with underlying in cash, bonds and equity funds. The investments can be redeemed any time and the investment was recorded at fair value. The gain (loss) from sale of any investments and fair value change are recognized in the statements of income and comprehensive income.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_84B_ecustom--PrepaidServicesFeesPolicyTextBlock_zmSwZh2hubCf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_869_znH74VzpJUp7">Prepaid services fees</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Prepaid services fees are mainly payments made to vendors or services providers for future services. These amounts are refundable and bear no interest. Management reviews its prepaid services fees on a regular basis to determine if the credit loss is adequate and adjusts the credit loss when necessary. As of December 31, 2024 and 2025, RMB <span style="display: none">0</span><span id="xdx_905_ecustom--AllowanceForPrepaidServicesFees_iI_c20241231_zv1HcxfCuncd" title="Prepaid services fees">22,149</span> and RMB <span id="xdx_904_ecustom--AllowanceForPrepaidServicesFees_iI_c20251231_zgWbhRv3ozI6" title="Prepaid services fees">2,790,191</span> (USD <span id="xdx_904_ecustom--AllowanceForPrepaidServicesFees_iI_uUSD_c20251231_z8FtzEHXVevg" title="Prepaid services fees">396,965</span>) credit losses were recognized for prepaid services fees, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> 22149 2790191 396965 <p id="xdx_84D_ecustom--OtherReceivablesAndPrepaidExpensesPolicyTextBlock_zHXFASgvHQci" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_864_z2fsfUm8Te3a">Other receivables and prepaid expenses</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Other receivables that are short-term in nature include employee advances to pay certain of the Company’s expenses in the normal course of business and certain short-term deposits. Prepaid expenses included utilities or system services. Credit loss may be established and recorded based on management’s assessment of the likelihood of collection. Management reviews these items on a regular basis to determine if the credit loss is adequate and adjusts the credit loss when necessary. Delinquent account balances are written-off against the credit loss after management has determined that the likelihood of collection is not probable. For the years ended December 31, 2024 and 2025, the Company made RMB <span id="xdx_90E_ecustom--AllowanceForOtherReceivablesAndPrepaidExpenses_iI_pp0p0_c20241231_zMOgfAD6Dye1" title="Allowance for other receivables and prepaid expenses">4,875,364</span> <span></span> and RMB <span id="xdx_90C_ecustom--AllowanceForOtherReceivablesAndPrepaidExpenses_iI_pp0p0_c20251231_z9u7QH8cVEp6" title="Allowance for other receivables and prepaid expenses">6,814,716</span> (USD <span id="xdx_904_ecustom--AllowanceForOtherReceivablesAndPrepaidExpenses_iI_pp0p0_uUSD_c20251231_zdm4hcGRv8c8" title="Allowance for other receivables and prepaid expenses">969,542</span>) credit losses for other receivables.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> 4875364 6814716 969542 <p id="xdx_849_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zvfsTEeJIuLb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_866_z584kEkd7p92">Property and equipment, net</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Property and equipment are stated at cost less accumulated depreciation and impairment if applicable. Depreciation is computed using the straight-line method over the estimated useful lives of the assets with 5% residual value. The estimated useful lives are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_89C_ecustom--ScheduleOfEstimatedUsefulLivesOfPropertyAndEquipmentNetTableTextBlock_zH5MtSaIlznb" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of significant accounting policies (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left"><span id="xdx_8B0_zKcDHw0MV4qi" style="display: none">Schedule of estimated useful lives of property and equipment, net</span></td> <td style="vertical-align: top; text-align: left"> </td> <td style="vertical-align: top; text-align: center"> </td> <td style="vertical-align: top; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left; padding-bottom: 1pt"> </td> <td style="vertical-align: top; text-align: left; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: top; font-weight: bold; text-align: center">Useful Life</td> <td style="vertical-align: top; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; width: 76%; text-align: left">Office equipment</td> <td style="vertical-align: top; text-align: left; width: 1%"> </td> <td style="vertical-align: top; width: 22%; text-align: center"><span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zCQx5sT9QDTg" title="Estimated useful lives">3</span> years</td> <td style="vertical-align: top; text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Office furniture and fixtures</td> <td style="vertical-align: top; text-align: left"> </td> <td style="vertical-align: top; text-align: center"><span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zq14OXSBvBoe" title="Estimated useful lives">3</span> – <span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zPy2VMQwLUy4" title="Estimated useful lives">5</span> years</td> <td style="vertical-align: top; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Vehicles</td> <td style="vertical-align: top; text-align: left"> </td> <td style="vertical-align: top; text-align: center"><span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zOObb6fiLG47" title="Estimated useful lives">3</span> – <span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zYlopP2yH6a8" title="Estimated useful lives">5</span> years</td> <td style="vertical-align: top; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Leasehold improvements</td> <td style="vertical-align: top; text-align: left"> </td> <td style="vertical-align: top; text-align: center"><span id="xdx_90B_ecustom--PropertyPlanstAndEquipmentEstimatedUsefulLives_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zJ6QaTgtMo38" title="Estimated useful lives">lesser of lease term or expected useful life</span></td> <td style="vertical-align: top; text-align: left"> </td></tr> </table> <p id="xdx_8AE_z1i5UKLMtsTe" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_89C_ecustom--ScheduleOfEstimatedUsefulLivesOfPropertyAndEquipmentNetTableTextBlock_zH5MtSaIlznb" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of significant accounting policies (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left"><span id="xdx_8B0_zKcDHw0MV4qi" style="display: none">Schedule of estimated useful lives of property and equipment, net</span></td> <td style="vertical-align: top; text-align: left"> </td> <td style="vertical-align: top; text-align: center"> </td> <td style="vertical-align: top; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left; padding-bottom: 1pt"> </td> <td style="vertical-align: top; text-align: left; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: top; font-weight: bold; text-align: center">Useful Life</td> <td style="vertical-align: top; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; width: 76%; text-align: left">Office equipment</td> <td style="vertical-align: top; text-align: left; width: 1%"> </td> <td style="vertical-align: top; width: 22%; text-align: center"><span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zCQx5sT9QDTg" title="Estimated useful lives">3</span> years</td> <td style="vertical-align: top; text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Office furniture and fixtures</td> <td style="vertical-align: top; text-align: left"> </td> <td style="vertical-align: top; text-align: center"><span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zq14OXSBvBoe" title="Estimated useful lives">3</span> – <span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zPy2VMQwLUy4" title="Estimated useful lives">5</span> years</td> <td style="vertical-align: top; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Vehicles</td> <td style="vertical-align: top; text-align: left"> </td> <td style="vertical-align: top; text-align: center"><span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zOObb6fiLG47" title="Estimated useful lives">3</span> – <span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zYlopP2yH6a8" title="Estimated useful lives">5</span> years</td> <td style="vertical-align: top; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Leasehold improvements</td> <td style="vertical-align: top; text-align: left"> </td> <td style="vertical-align: top; text-align: center"><span id="xdx_90B_ecustom--PropertyPlanstAndEquipmentEstimatedUsefulLives_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zJ6QaTgtMo38" title="Estimated useful lives">lesser of lease term or expected useful life</span></td> <td style="vertical-align: top; text-align: left"> </td></tr> </table> P3Y P3Y P5Y P3Y P5Y lesser of lease term or expected useful life <p id="xdx_842_ecustom--LongTermInvestmentsPolicyTextBlock_zqyOraV3X2ej" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_860_zAol4TvvtaYh">Long-term investments</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company accounts for investments with less than 20% of the voting shares and does not have the ability to exercise significant influence over operating and financial policies of the investee using the cost method, included in long-term investments. The Company records these investments at cost in its consolidated financial statements and subsequently records any dividends received from the net accumulated earnings of the investee as income. Dividends received in excess of earnings are considered a return of investment and are recorded as reduction in the cost of the investments.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Equity method investments are evaluated for impairment when facts or circumstances indicate that the fair value of the long-term investments is less than its carrying value. An impairment is recognized when a decline in fair value is determined to be other-than-temporary. The Company reviews several factors to determine whether a loss is other-than-temporary. These factors include, but are not limited to, the: (i) nature of the investment; (ii) cause and duration of the impairment; (iii) extent to which fair value is less than cost; (iv) financial condition and near term prospects of the investments; and (v) ability to hold the security for a period of time sufficient to allow for any anticipated recovery in fair value. As of December 31, 2025, the Company recognized the impairment of RMB <span id="xdx_907_ecustom--ImpairmentLossOfInvestments_iI_c20251231_zmGz2WarXa4f" title="Impairment loss">1,103,089</span> (USD <span id="xdx_90B_ecustom--ImpairmentLossOfInvestments_iI_uUSD_c20251231_zO2VQw8XwKO1" title="Impairment loss">156,938</span>) for the equity method investment, mainly due to the weak financial condition recognized of Shenzhen Weiyixin’s investments in near periods.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> 1103089 156938 <p id="xdx_843_eus-gaap--ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_zdcc8OsLgCxk" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_863_z857ZduVlaZk">Impairment for long-lived assets</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Long-lived assets, including property and equipment and intangible assets with finite lives are reviewed for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying value of an asset may not be recoverable. The Company assesses the recoverability of the assets based on the undiscounted future cash flows the assets are expected to generate and recognize an impairment loss when estimated undiscounted future cash flows expected to result from the use of the asset plus net proceeds expected from disposition of the asset, if any, are less than the carrying value of the asset. If an impairment is identified, the Company would reduce the carrying amount of the asset to its estimated fair value based on a discounted cash flows approach or, when available and appropriate, to comparable market values. For the years ended December 31, 2023, 2024 and 2025, RMB <span id="xdx_908_ecustom--ImpairmentOfLongLivedAssets_pp0p0_c20230101__20231231_z057ajP4LGo8" title="Impairment Of Long Lived Assets">6,602,198</span>, RMB nil and RMB nil impairment of long-lived assets was recognized.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in"> </p> 6602198 <p id="xdx_842_ecustom--ConvertibleNotesPayablePolicyTextBlock_zqosN0ClBNVa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_862_zS2bkta3AxMi">Convertible notes payable</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Convertible notes are debt or equity instruments that either require or permit the investor to convert the instrument into equity securities of the issuer. The Company accounts for its convertible notes in accordance with ASC 470-20 Debt with Conversion and Other Options, whereby the convertible instrument is initially accounted for as a single unit of account, unless it contains a derivative that must be bifurcated from the host contract in accordance with ASC 815-15 Derivatives and hedging – Embedded Derivatives or the substantial premium model in ASC 470-20 Debt – Debt with Conversion and Other Options applies. For the year ended December 31, 2025, the convertible notes payable amounted to nil.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_84C_eus-gaap--BusinessCombinationsPolicy_zNjkLAuE3vHc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_860_zqIt4wWerID7">Business combination</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The purchase price of an acquired company is allocated between tangible and intangible assets acquired and liabilities assumed from the acquired business based on their estimated fair values, with the residual of the purchase price recorded as goodwill. Transaction costs associated with business combinations are expensed as incurred, and are included in general and administrative expenses in the Company’s consolidated statements of operations. The results of operations of the acquired business are included in the Company’s operating results from the date of acquisition.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_842_eus-gaap--FairValueMeasurementPolicyPolicyTextBlock_zGPwIuN38Q3j" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_862_zVpNIzW4JRPa">Fair value measurement</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The accounting standard regarding fair value of financial instruments and related fair value measurements defines financial instruments and requires disclosure of the fair value of financial instruments held by the Company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The accounting standards define fair value, establish a three-level valuation hierarchy for disclosures of fair value measurement and enhance disclosure requirements for fair value measures. The three levels are defined as follow:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.</td> </tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments.</td> </tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">Level 3 inputs to the valuation methodology are unobservable and significant to the fair value.</td> </tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">During the year ended of December 31, 2025, the financial instruments held by the Company were all classified into Level 1, according to the nature of the financial instruments, which were marketable securities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_846_ecustom--WarrantsLiabilitiesPolicyTextBlock_zPLnbhuro1q8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_861_zD3YgR1DhaW5">Warrants liabilities</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company accounts for warrants (Public Warrants or Private Warrants) as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in Financial Accounting Standards Board (“FASB”) ASC 480 and ASC 815, “Derivatives and Hedging” (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own Class A Ordinary shares and whether the warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">For issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of equity at the time of issuance. For issued or modified warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded as liabilities at their initial fair value on the date of issuance, and each balance sheet date thereafter. Changes in the estimated fair value of the warrants are recognized as a non-cash gain or loss on the consolidated statements of operations. The Company has elected to account for its Public Warrants as equity and the Private Warrants as liabilities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_84D_eus-gaap--RevenueRecognitionPolicyTextBlock_zamFdROzhIZ8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_860_zHwTt0djnHT">Revenue recognition</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company adopted Accounting Standards Update (“ASU”) 2014-09 Revenue from Contracts with Customers (ASC Topic 606). The ASU requires the use of a new five-step model to recognize revenue from customer contracts. The five-step model requires that the Company (i) identifies the contract with the customer, (ii) identifies the performance obligations in the contract, (iii) determines the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not occur, (iv) allocates the transaction price to the respective performance obligations in the contract, and (v) recognizes revenue when (or as) the Company satisfies the performance obligation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in"><i>(i)</i></td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"><i>Central Processing Advertising Algorithm Services</i></td> </tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.5in">— Advertising display services</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">For the advertising algorithm advertising display services, the Company’s performance obligation is to identify advertising spaces, embed images or videos into films, shows and short form videos that are hosted by leading online streaming platforms in China. Revenue is recognized at a point in time when the related services have been delivered based on the specific terms of the contract, which are commonly based on specific action (i.e., cost per impression (“CPM”) for online display).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company enters into advertising contracts with advertisers where the amounts charged per specific action are fixed and determinable, the specific terms of the contracts were agreed on by the Company, the advertisers and channel providers, and collectability is probable. Revenue is recognized on a CPM basis as impressions.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company considers itself as provider of the services as it has control of the specified services and products at any time before it is transferred to the customers which is evidenced by (1) the Company is primarily responsible to its customers for products and services offered where the products were designed in house and the Company has customer services team to directly serve the customers; and (2) having latitude in establish pricing. Therefore, the Company acts as the principal of these arrangements and reports revenue earned and costs incurred related to these transactions on a gross basis.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.5in">— Performance-based advertising service</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company provides central processing algorithm performance-based advertising services for its customers, which enable the customers to get the optimal business opportunities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company’s performance obligation is to help customers to accurately match consumers and traffic users, and thereby increasing the conversion rate of product sale using its proprietary data optimization algorithms. The Company’s revenue is recognized at a point when an ender user completes a transaction at a rate specified in contract. Related service fees are generally billed monthly, based on a per transaction basis.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company considers itself as provider of the services as it has control of the specified services and products at any time before it is transferred to the customers which is evidenced by (1) it is primarily responsible to its customers for the services offered where the algorithms and data optimization were designed and performed in house and it has customer services team to directly serve the customers; and (2) having latitude in establish pricing. Therefore, the Company acts as the principal of these arrangements and reports revenue earned and costs incurred related to these transactions on a gross basis.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">In addition, through the Company’s data algorithm optimization, it is able to identify certain end user needs and it facilitates certain value-added services to the end users. The Company engages third party services provider to perform the services. The Company concludes that it does not control the services as the third-party service provider is responsible for providing the service and its responsibility is merely to facilitate the provision of these value-added service to the end users and charges a fee. As such the Company recorded revenue from the value-added services on a net basis when the services are provided by third party service provider.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.5in">— Software development</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company also designs software for central processing units based on customers’ specific needs. The contract is typically fixed priced and does not provide any post contract customer support or upgrades. The Company’s performance obligation is to design, develop, test and install the related software for customers, all of which are considered one performance obligation as the customers do not obtain benefit for each separate service. The duration of the development period is short, usually less than one year.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company’s revenue from software development contracts is generally recognized over time during the development period and the Company has no alternative use of the customized software and application without incurring significant additional costs. Revenue is recognized based on the Company’s measurement of progress towards completion based on output methods when the Company could appropriately measure the customization progress towards completion by reaching certain milestones specified in contracts. Assumptions, risks and uncertainties inherent in the estimates used to measure progress could affect the amount of revenues, receivables and deferred revenues at each reporting period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in"><i>(ii)</i></td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"><i>Sale of intelligent chips</i></td> </tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Starting in September 2020, the Company has also been engaged in resale of intelligent chips products and accessories. The Company typically enters into written contracts with its customer where the rights of the parties, including payment terms, are identified and sales prices to the customers are fixed with no separate sales rebate, discount, or other incentive and no right of return exists on sales of inventory. The Company’s performance obligation is to deliver products according to contract specifications. The Company recognizes gross product revenue at a point in time when the control of products or services are transferred to customers.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">To distinguish a promise to provide products from a promise to facilitate the sale from a third party, the Company considers the guidance of control in ASC 606-10-55-37A and the indicators in 606-10-55-39. The Company considers this guidance in conjunction with the terms in the Company’s arrangements with both suppliers and customers.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">In general, the Company controls the products as it has the obligation to (i) fulfil the products delivery and (ii) bear any inventory risk as legal owners. In addition, when establishing the selling prices for delivery of the resale products, the Company has control to set its selling price to ensure it would generate profit for the products delivery arrangements. The Company believes that all these factors indicate that the Company is acting as a principal in this transaction. As a result, revenue from the sales of products is presented on a gross basis.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify">Contract balances:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company records receivable related to revenue when it has an unconditional right to invoice and receive payment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Payments received from customers before all the relevant criteria for revenue recognition met are recorded as deferred revenue. As of December 31, 2024, deferred revenue totaled RMB <span id="xdx_90C_eus-gaap--DeferredRevenueCurrent_c20241231_pp0p" title="Deferred revenues">3,409,718</span>, all of which was recognized as revenue during the year ended December 31, 2025. As of December 31, 2025, the Company recorded a deferred revenue balance of RMB <span id="xdx_90D_eus-gaap--DeferredRevenueCurrent_c20251231_pp0p" title="Deferred revenues">7,121,109</span> (USD <span id="xdx_90B_eus-gaap--DeferredRevenueCurrent_iI_pp0p0_uUSD_c20251231_zVuIxFJMtuk9" title="Deferred revenues">1,013,133</span>).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company’s disaggregated revenue streams in consideration of the Company’s type of goods and services and sales channels are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_89E_ecustom--DisaggregationOfRevenuesTableTextBlock_zTrO36EcIdC3" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of significant accounting policies (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt"><span id="xdx_8B1_z0diBlxfGe83" style="display: none">Schedule of disaggregation of revenue</span></td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2023</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 52%; text-align: left">Central processing advertising algorithm services</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98C_eus-gaap--Revenues_pp0p0_c20230101__20231231__srt--ProductOrServiceAxis__custom--CentralProcessingAdvertisingAlgorithmServicesMember_zHWBgNBItqzh" style="width: 9%; text-align: right" title="Total revenues">569,906,586</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_989_eus-gaap--Revenues_pp0p0_c20240101__20241231__srt--ProductOrServiceAxis__custom--CentralProcessingAdvertisingAlgorithmServicesMember_zL8gjYRlVgHa" style="width: 9%; text-align: right" title="Total revenues">541,487,420</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98F_eus-gaap--Revenues_pp0p0_c20250101__20251231__srt--ProductOrServiceAxis__custom--CentralProcessingAdvertisingAlgorithmServicesMember_z4MUXbmBXrRh" style="width: 9%; text-align: right" title="Total revenues">422,045,319</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_986_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231__srt--ProductOrServiceAxis__custom--CentralProcessingAdvertisingAlgorithmServicesMember_z2wCNxfByHBe" style="width: 9%; text-align: right" title="Total revenues">60,045,146</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Sales of intelligent chips</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_981_eus-gaap--Revenues_pp0p0_c20230101__20231231__srt--ProductOrServiceAxis__custom--SalesOfIntelligentChipsMember_z13VeYUqAOHa" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues">10,109,828</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_980_eus-gaap--Revenues_pp0p0_c20240101__20241231__srt--ProductOrServiceAxis__custom--SalesOfIntelligentChipsMember_z1gHJrr7KnW2" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues"><span style="-sec-ix-hidden: xdx2ixbrl1268">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_987_eus-gaap--Revenues_pp0p0_c20250101__20251231__srt--ProductOrServiceAxis__custom--SalesOfIntelligentChipsMember_zDgDiUB67Cn7" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues"><span style="-sec-ix-hidden: xdx2ixbrl1270">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_985_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231__srt--ProductOrServiceAxis__custom--SalesOfIntelligentChipsMember_zUV1eX08iKbh" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues"><span style="-sec-ix-hidden: xdx2ixbrl1272">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 2.5pt">Total revenues</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_986_eus-gaap--Revenues_pp0p0_c20230101__20231231_zmIj53GKd74h" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">580,016,414</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98A_eus-gaap--Revenues_pp0p0_c20240101__20241231_zWpZkFwIhaPc" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">541,487,420</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98E_eus-gaap--Revenues_pp0p0_c20250101__20251231_z1giIHaq9kvl" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">422,045,319</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_989_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231_zEw3q7ugVZKg" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">60,045,146</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AB_zsygVL2Xrbx6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company’s revenue by timing of transfer of goods or services is summarized below:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_890_ecustom--ScheduleOfRevenueByTimingOfTransferOfGoodsOrServicesTableTextBlock_zOkf6XvehoGa" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of significant accounting policies (Details 3)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt"><span id="xdx_8BB_zP996g9CLava" style="display: none">Schedule of revenue by timing of transfer of goods or services</span></td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2023</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 52%; text-align: left">Goods and services transferred at a point in time</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_986_eus-gaap--Revenues_pp0p0_c20230101__20231231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zPHxTbLps9vf" style="width: 9%; text-align: right" title="Total revenues">580,016,414</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98D_eus-gaap--Revenues_pp0p0_c20240101__20241231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zLbMBnfTMdTe" style="width: 9%; text-align: right" title="Total revenues">414,763,523</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98B_eus-gaap--Revenues_pp0p0_c20250101__20251231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_z9MPjaR9PJMb" style="width: 9%; text-align: right" title="Total revenues">284,699,784</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98E_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zF7tazwu8Lt6" style="width: 9%; text-align: right" title="Total revenues">40,504,749</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Services transferred over time</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98E_eus-gaap--Revenues_pp0p0_c20230101__20231231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_ziz67jzYySo8" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues"><span style="-sec-ix-hidden: xdx2ixbrl1292">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_989_eus-gaap--Revenues_pp0p0_c20240101__20241231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zA9Bs2BcXoGh" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues">126,723,897</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_980_eus-gaap--Revenues_pp0p0_c20250101__20251231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zYa6Afa9ebMj" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues">137,345,535</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_981_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zfF8nt52CrY" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues">19,540,397</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 2.5pt">Total revenues</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_981_eus-gaap--Revenues_pp0p0_c20230101__20231231_zas5kWDhnsBb" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">580,016,414</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98F_eus-gaap--Revenues_pp0p0_c20240101__20241231_zOXRqQe0QFp" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">541,487,420</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98A_eus-gaap--Revenues_pp0p0_c20250101__20251231_z9Hd62wwOjug" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">422,045,319</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98A_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231_zKabEj68REr9" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">60,045,146</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A5_zKQJtNPmBSM8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company’s revenue by geographic locations is summarized below:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_89B_ecustom--ScheduleOfRevenueByGeographicLocationsTableTextBlock_zgyAoOgozdyf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of significant accounting policies (Details 4)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8B5_zsiaWpk2B902" style="display: none">Schedule of revenue by geographic locations</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2023</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 52%; text-align: left">Mainland PRC revenues</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98C_eus-gaap--Revenues_pp0p0_c20230101__20231231__srt--StatementGeographicalAxis__custom--MainlandPRCMember_zxLXTK4WPJLh" style="width: 9%; text-align: right" title="Total revenues">540,294,309</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_984_eus-gaap--Revenues_pp0p0_c20240101__20241231__srt--StatementGeographicalAxis__custom--MainlandPRCMember_zmup30mzEQB5" style="width: 9%; text-align: right" title="Total revenues">414,763,523</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98C_eus-gaap--Revenues_pp0p0_c20250101__20251231__srt--StatementGeographicalAxis__custom--MainlandPRCMember_z6dmnAmoXyka" style="width: 9%; text-align: right" title="Total revenues">284,699,784</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98B_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231__srt--StatementGeographicalAxis__custom--MainlandPRCMember_zBPjn629aGV" style="width: 9%; text-align: right" title="Total revenues">40,504,749</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Hong Kong revenues</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_988_eus-gaap--Revenues_pp0p0_c20230101__20231231__srt--StatementGeographicalAxis__country--HK_zADBz74aJW77" style="text-align: right" title="Total revenues">29,612,277</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_980_eus-gaap--Revenues_pp0p0_c20240101__20241231__srt--StatementGeographicalAxis__country--HK_zi0BIOWBHBqf" style="text-align: right" title="Total revenues">126,723,897</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_982_eus-gaap--Revenues_pp0p0_c20250101__20251231__srt--StatementGeographicalAxis__country--HK_zyuOmmmDpMCf" style="text-align: right" title="Total revenues">137,345,535</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_984_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231__srt--StatementGeographicalAxis__country--HK_zKHHenNTWLla" style="text-align: right" title="Total revenues">19,540,397</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">International revenues</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_988_eus-gaap--Revenues_pp0p0_c20230101__20231231__srt--StatementGeographicalAxis__custom--InternationalMember_z8sIwhN7F08" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues">10,109,828</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_981_eus-gaap--Revenues_pp0p0_c20240101__20241231__srt--StatementGeographicalAxis__custom--InternationalMember_zckLoMMpo5J1" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues"><span style="-sec-ix-hidden: xdx2ixbrl1328">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98F_eus-gaap--Revenues_pp0p0_c20250101__20251231__srt--StatementGeographicalAxis__custom--InternationalMember_zqRrC47yWnz2" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues"><span style="-sec-ix-hidden: xdx2ixbrl1330">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_988_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231__srt--StatementGeographicalAxis__custom--InternationalMember_z0XYp4TWy4eh" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues"><span style="-sec-ix-hidden: xdx2ixbrl1332">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 2.5pt">Total revenues</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_987_eus-gaap--Revenues_pp0p0_c20230101__20231231_zFPuKP5SN089" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">580,016,414</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_989_eus-gaap--Revenues_pp0p0_c20240101__20241231_zLxh7dva2qxc" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">541,487,420</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98F_eus-gaap--Revenues_pp0p0_c20250101__20251231_zMdOc70IP2v4" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">422,045,319</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_981_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231_zm6Jcsz1eWD3" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">60,045,146</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A5_zhTZLMzda39i" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> 3409718 7121109 1013133 <table cellpadding="0" cellspacing="0" id="xdx_89E_ecustom--DisaggregationOfRevenuesTableTextBlock_zTrO36EcIdC3" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of significant accounting policies (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt"><span id="xdx_8B1_z0diBlxfGe83" style="display: none">Schedule of disaggregation of revenue</span></td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2023</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 52%; text-align: left">Central processing advertising algorithm services</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98C_eus-gaap--Revenues_pp0p0_c20230101__20231231__srt--ProductOrServiceAxis__custom--CentralProcessingAdvertisingAlgorithmServicesMember_zHWBgNBItqzh" style="width: 9%; text-align: right" title="Total revenues">569,906,586</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_989_eus-gaap--Revenues_pp0p0_c20240101__20241231__srt--ProductOrServiceAxis__custom--CentralProcessingAdvertisingAlgorithmServicesMember_zL8gjYRlVgHa" style="width: 9%; text-align: right" title="Total revenues">541,487,420</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98F_eus-gaap--Revenues_pp0p0_c20250101__20251231__srt--ProductOrServiceAxis__custom--CentralProcessingAdvertisingAlgorithmServicesMember_z4MUXbmBXrRh" style="width: 9%; text-align: right" title="Total revenues">422,045,319</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_986_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231__srt--ProductOrServiceAxis__custom--CentralProcessingAdvertisingAlgorithmServicesMember_z2wCNxfByHBe" style="width: 9%; text-align: right" title="Total revenues">60,045,146</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Sales of intelligent chips</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_981_eus-gaap--Revenues_pp0p0_c20230101__20231231__srt--ProductOrServiceAxis__custom--SalesOfIntelligentChipsMember_z13VeYUqAOHa" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues">10,109,828</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_980_eus-gaap--Revenues_pp0p0_c20240101__20241231__srt--ProductOrServiceAxis__custom--SalesOfIntelligentChipsMember_z1gHJrr7KnW2" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues"><span style="-sec-ix-hidden: xdx2ixbrl1268">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_987_eus-gaap--Revenues_pp0p0_c20250101__20251231__srt--ProductOrServiceAxis__custom--SalesOfIntelligentChipsMember_zDgDiUB67Cn7" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues"><span style="-sec-ix-hidden: xdx2ixbrl1270">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_985_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231__srt--ProductOrServiceAxis__custom--SalesOfIntelligentChipsMember_zUV1eX08iKbh" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues"><span style="-sec-ix-hidden: xdx2ixbrl1272">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 2.5pt">Total revenues</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_986_eus-gaap--Revenues_pp0p0_c20230101__20231231_zmIj53GKd74h" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">580,016,414</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98A_eus-gaap--Revenues_pp0p0_c20240101__20241231_zWpZkFwIhaPc" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">541,487,420</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98E_eus-gaap--Revenues_pp0p0_c20250101__20251231_z1giIHaq9kvl" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">422,045,319</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_989_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231_zEw3q7ugVZKg" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">60,045,146</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 569906586 541487420 422045319 60045146 10109828 580016414 541487420 422045319 60045146 <table cellpadding="0" cellspacing="0" id="xdx_890_ecustom--ScheduleOfRevenueByTimingOfTransferOfGoodsOrServicesTableTextBlock_zOkf6XvehoGa" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of significant accounting policies (Details 3)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt"><span id="xdx_8BB_zP996g9CLava" style="display: none">Schedule of revenue by timing of transfer of goods or services</span></td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2023</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 52%; text-align: left">Goods and services transferred at a point in time</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_986_eus-gaap--Revenues_pp0p0_c20230101__20231231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zPHxTbLps9vf" style="width: 9%; text-align: right" title="Total revenues">580,016,414</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98D_eus-gaap--Revenues_pp0p0_c20240101__20241231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zLbMBnfTMdTe" style="width: 9%; text-align: right" title="Total revenues">414,763,523</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98B_eus-gaap--Revenues_pp0p0_c20250101__20251231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_z9MPjaR9PJMb" style="width: 9%; text-align: right" title="Total revenues">284,699,784</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98E_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zF7tazwu8Lt6" style="width: 9%; text-align: right" title="Total revenues">40,504,749</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Services transferred over time</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98E_eus-gaap--Revenues_pp0p0_c20230101__20231231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_ziz67jzYySo8" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues"><span style="-sec-ix-hidden: xdx2ixbrl1292">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_989_eus-gaap--Revenues_pp0p0_c20240101__20241231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zA9Bs2BcXoGh" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues">126,723,897</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_980_eus-gaap--Revenues_pp0p0_c20250101__20251231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zYa6Afa9ebMj" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues">137,345,535</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_981_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zfF8nt52CrY" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues">19,540,397</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 2.5pt">Total revenues</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_981_eus-gaap--Revenues_pp0p0_c20230101__20231231_zas5kWDhnsBb" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">580,016,414</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98F_eus-gaap--Revenues_pp0p0_c20240101__20241231_zOXRqQe0QFp" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">541,487,420</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98A_eus-gaap--Revenues_pp0p0_c20250101__20251231_z9Hd62wwOjug" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">422,045,319</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98A_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231_zKabEj68REr9" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">60,045,146</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 580016414 414763523 284699784 40504749 126723897 137345535 19540397 580016414 541487420 422045319 60045146 <table cellpadding="0" cellspacing="0" id="xdx_89B_ecustom--ScheduleOfRevenueByGeographicLocationsTableTextBlock_zgyAoOgozdyf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of significant accounting policies (Details 4)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8B5_zsiaWpk2B902" style="display: none">Schedule of revenue by geographic locations</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2023</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 52%; text-align: left">Mainland PRC revenues</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98C_eus-gaap--Revenues_pp0p0_c20230101__20231231__srt--StatementGeographicalAxis__custom--MainlandPRCMember_zxLXTK4WPJLh" style="width: 9%; text-align: right" title="Total revenues">540,294,309</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_984_eus-gaap--Revenues_pp0p0_c20240101__20241231__srt--StatementGeographicalAxis__custom--MainlandPRCMember_zmup30mzEQB5" style="width: 9%; text-align: right" title="Total revenues">414,763,523</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98C_eus-gaap--Revenues_pp0p0_c20250101__20251231__srt--StatementGeographicalAxis__custom--MainlandPRCMember_z6dmnAmoXyka" style="width: 9%; text-align: right" title="Total revenues">284,699,784</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98B_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231__srt--StatementGeographicalAxis__custom--MainlandPRCMember_zBPjn629aGV" style="width: 9%; text-align: right" title="Total revenues">40,504,749</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Hong Kong revenues</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_988_eus-gaap--Revenues_pp0p0_c20230101__20231231__srt--StatementGeographicalAxis__country--HK_zADBz74aJW77" style="text-align: right" title="Total revenues">29,612,277</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_980_eus-gaap--Revenues_pp0p0_c20240101__20241231__srt--StatementGeographicalAxis__country--HK_zi0BIOWBHBqf" style="text-align: right" title="Total revenues">126,723,897</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_982_eus-gaap--Revenues_pp0p0_c20250101__20251231__srt--StatementGeographicalAxis__country--HK_zyuOmmmDpMCf" style="text-align: right" title="Total revenues">137,345,535</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_984_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231__srt--StatementGeographicalAxis__country--HK_zKHHenNTWLla" style="text-align: right" title="Total revenues">19,540,397</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">International revenues</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_988_eus-gaap--Revenues_pp0p0_c20230101__20231231__srt--StatementGeographicalAxis__custom--InternationalMember_z8sIwhN7F08" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues">10,109,828</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_981_eus-gaap--Revenues_pp0p0_c20240101__20241231__srt--StatementGeographicalAxis__custom--InternationalMember_zckLoMMpo5J1" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues"><span style="-sec-ix-hidden: xdx2ixbrl1328">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98F_eus-gaap--Revenues_pp0p0_c20250101__20251231__srt--StatementGeographicalAxis__custom--InternationalMember_zqRrC47yWnz2" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues"><span style="-sec-ix-hidden: xdx2ixbrl1330">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_988_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231__srt--StatementGeographicalAxis__custom--InternationalMember_z0XYp4TWy4eh" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues"><span style="-sec-ix-hidden: xdx2ixbrl1332">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 2.5pt">Total revenues</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_987_eus-gaap--Revenues_pp0p0_c20230101__20231231_zFPuKP5SN089" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">580,016,414</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_989_eus-gaap--Revenues_pp0p0_c20240101__20241231_zLxh7dva2qxc" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">541,487,420</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98F_eus-gaap--Revenues_pp0p0_c20250101__20251231_zMdOc70IP2v4" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">422,045,319</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_981_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231_zm6Jcsz1eWD3" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">60,045,146</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 540294309 414763523 284699784 40504749 29612277 126723897 137345535 19540397 10109828 580016414 541487420 422045319 60045146 <p id="xdx_84A_ecustom--CostOfRevenuesPolicyTextBlock_zZqPgWtj8zte" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_86B_z0gdvO0otxI">Cost of revenue</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Cost of revenue for central processing algorithm services comprised of costs paid to channel distributors based on the sales agreements, shared costs with content providers based on the profit-sharing arrangements, third party consulting services expenses and compensation expenses for the Company’s professionals.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">For software development services, the cost of revenue includes the costs paid to the development vendors during the process of software development.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">For intelligent chip and services, the cost of revenue consists primarily of the costs of products sold and third-party software development costs.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_848_ecustom--CostAllocationPolicyTextBlock_zYfacTAMDuSf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_863_zzMKOfHedqM2">Cost allocation</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Cost allocation includes allocation of certain general and administrative and financial expenses paid by the Parent Company. General and administrative expenses consist primarily of salary and related expenses of senior management and employees, shared management expenses, including accounting, consulting, legal support services, and other expenses to provide operating support to the related businesses. These allocations are made using a proportional cost allocation method by considering the proportion of revenues, headcounts as well as estimates of time spent on the provision of services attributable to the Company and the related expenses resulted from the acquisition of subsidiary.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_840_eus-gaap--ResearchAndDevelopmentExpensePolicy_zwfL4dh0bQUk" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_865_zqJEuOZHaZch">Research and development</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Research and development expenses include salaries and other compensation-related expenses to the Company’s research and product development personnel, outsourced subcontractors, as well as office rental, depreciation and related expenses for the Company’s research and product development team.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_844_ecustom--ValueAddedTaxesVatAndGoodsAndServicesTaxesGstPolicyTextBlock_zlfAgKFlKE18" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_86A_zi1ltBUwzjqa">Value added taxes (“VAT”) and goods and services taxes (“GST”)</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Revenue represents the invoiced value of service, net of VAT or GST. The VAT and GST are based on gross sales price and VAT rates range up to 13% in China, depending on the type of service provided or product sold, and GST rate is generally 9% in Singapore. Entities that are VAT/GST general taxpayers are allowed to offset qualified input VAT/GST paid to suppliers against their output VAT/GST liabilities. Net VAT/GST balance between input VAT/GST and output VAT/GST is recorded in tax payable. All of the VAT/GST returns filed by the Company’s subsidiaries in China and Singapore, have been and remain subject to examination by the tax authorities for five years from the date of filing.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_84D_eus-gaap--IncomeTaxPolicyTextBlock_zwwAUix8QR6b" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_862_zd4f2u4qU9i1">Income taxes</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company accounts for current income taxes in accordance with the laws of the relevant tax authorities. The charge for taxation is based on the results for the fiscal year as adjusted for items, which are non-assessable or disallowed. It is calculated using tax rates that have been enacted or substantively enacted by the balance sheet date.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Deferred taxes are accounted for using the asset and liability method in respect of temporary differences arising from differences between the carrying amount of assets and liabilities in the consolidated financial statements and the corresponding tax basis used in the computation of assessable tax profit. In principle, deferred tax liabilities are recognized for all taxable temporary differences. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which deductible temporary differences can be utilized. Deferred tax is calculated using tax rates that are expected to apply to the period when the asset is realized or the liability is settled. Deferred tax is charged or credited in the income statement, except when it is related to items credited or charged directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided for in accordance with the laws of the relevant taxing authorities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">An uncertain tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. No penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_84E_ecustom--OtherIncomeNetPolicyTextBlock_z3d3tO3pJag6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_86E_zCsFPD6MdNg1">Other income (expenses), net</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Other income (expenses), net mainly includes government subsidies which are amounts granted by local government authorities as an incentive for companies to promote development of the local technology industry. The Company receives government subsidies related to government sponsored projects and records such government subsidies as a liability when it is received. The Company records government subsidies as other income when there is no further performance obligation. Total government subsidies amounted to RMB <span id="xdx_909_ecustom--GovernmentSubsidies_pp0p0_c20240101__20241231_zYWdfXjLh0Zk" title="Government subsidies">7,037</span> and RMB <span id="xdx_904_ecustom--GovernmentSubsidies_pp0p0_c20250101__20251231_zFIELrFfW3Je" title="Government subsidies">100,717</span> (USD <span id="xdx_901_ecustom--GovernmentSubsidies_pp0p0_uUSD_c20250101__20251231_zD332t21Idhe" title="Government subsidies">14,329</span>) for the years ended December 31, 2024 and 2025, respectively. As of December 31, 2024 and 2025, total amount of other income (expenses), net was RMB <span id="xdx_90A_eus-gaap--OtherIncome_iN_pp0p0_di_c20240101__20241231_zlNrfsWzBKWi" title="Other income">47,655</span> and RMB <span id="xdx_908_eus-gaap--OtherIncome_iN_pp0p0_di_c20250101__20251231_zosBVNOQthW1" title="Other income">469,838</span> (USD <span id="xdx_903_eus-gaap--OtherIncome_iN_pp0p0_di_uUSD_c20250101__20251231_zvPeCt0g4e58" title="Other income">66,844</span>), respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> 7037 100717 14329 -47655 -469838 -66844 <p id="xdx_845_eus-gaap--LesseeOperatingLeasesTextBlock_zErqCwbbjau7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_86C_zZXgkIMgYs3f">Leases</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company adopted FASB ASU 2016-02, “Leases” (Topic 842), and elected the practical expedients that does not require us to reassess: (1) whether any expired or existing contracts are, or contain, leases, (2) lease classification for any expired or existing leases and (3) initial direct costs for any expired or existing leases. For lease terms of twelve months or fewer, a lessee is permitted to make an accounting policy election not to recognize lease assets and liabilities. The Company also adopted the practical expedient that allows lessees to treat the lease and non-lease components of a lease as a single lease component.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Operating lease ROU assets and lease liabilities are recognized at the adoption date or the commencement date, whichever is earlier, based on the present value of lease payments over the lease term. Since the implicit rate for the Company’s leases is not readily determinable, the Company use its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The incremental borrowing rate is the rate of interest that the Company would have to pay to borrow, on a collateralized basis, an amount equal to the lease payments, in a similar economic environment and over a similar term.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Lease terms used to calculate the present value of lease payments generally do not include any options to extend, renew, or terminate the lease, as the Company does not have reasonable certainty at lease inception that these options will be exercised. The Company generally considers the economic life of its operating lease ROU assets to be comparable to the useful life of similar owned assets. The Company has elected the short-term lease exception, therefore operating lease ROU assets and liabilities do not include leases with a lease term of twelve months or less. Its leases generally do not provide a residual guarantee. The operating lease ROU asset also excludes lease incentives. Lease expense is recognized on a straight-line basis over the lease term.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company reviews the impairment of its ROU assets consistent with the approach applied for its other long-lived assets. The Company reviews the recoverability of its long-lived assets when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment of possible impairment is based on its ability to recover the carrying value of the asset from the expected undiscounted future pre-tax cash flows of the related operations. The Company has elected to include the carrying amount of operating lease liabilities in any tested asset group and include the associated operating lease payments in the undiscounted future pre-tax cash flows.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_846_eus-gaap--CompensationRelatedCostsPolicyTextBlock_zfB6zh42dvSd" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_863_zFs8pi0O3tId">Share-based compensation</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company records share-based compensation expense for employees and non-employees at fair value on the grant date. Share-based compensation is recognized net of forfeitures, as amortized expense on a straight-line basis over the requisite service period, which is the vesting period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company accounts for share-based compensation expenses using an estimated forfeiture rate at the time of grant and revising, if necessary, in subsequent periods if actual forfeitures differ from initial estimates. Share-based compensation expenses are recorded net of estimated forfeitures such that expenses are recorded only for those share-based awards that are expected to vest.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_846_ecustom--EmployeeBenefitsPolicyTextBlock_zRh13CCVHQP8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_864_zZTEs6vGvfg3">Employee benefit</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The full-time employees of the Company are entitled to staff welfare benefits including medical care, housing fund, pension benefits, unemployment insurance and other welfare, which are government mandated defined contribution plans. The Company is required to accrue for these benefits based on certain percentages of the employees’ respective salaries, subject to certain ceilings, in accordance with the relevant PRC regulations, and make cash contributions to the state-sponsored plans out of the amounts accrued. Total expenses for the plans were RMB <span id="xdx_90B_eus-gaap--LaborAndRelatedExpense_pp0p0_c20230101__20231231_zmBPGpoNXS9l" title="Total expenses">1,683,474</span>, RMB <span id="xdx_90C_eus-gaap--LaborAndRelatedExpense_pp0p0_c20240101__20241231_zqI5v6eXk2ya" title="Total expenses">1,515,078</span> and RMB <span id="xdx_908_eus-gaap--LaborAndRelatedExpense_pp0p0_c20250101__20251231_zWOySlw5qANe" title="Total expenses">1,565,867</span> (USD <span id="xdx_901_eus-gaap--LaborAndRelatedExpense_pp0p0_uUSD_c20250101__20251231_zySuV2wgTTua" title="Total expenses">222,779</span>) for the years ended December 31, 2023, 2024 and 2025, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> 1683474 1515078 1565867 222779 <p id="xdx_84E_ecustom--NoncontrollingInterestsPolicyTextBlock_zXkTNyvwNby1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_86A_z51bmW0A6hkd">Noncontrolling interests</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Noncontrolling interest consists of an aggregate of <span id="xdx_90A_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20251231__srt--OwnershipAxis__custom--ShanghaiWeimuMember_za9iRfI9VDn8">42%</span> of the equity interest of Shanghai Weimu<b>, </b><span id="xdx_90F_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20251231__srt--OwnershipAxis__custom--ViwoTechMember_z69D6x7pF747">45%</span> of equity interest of Viwo Tech, held by other investors. Excess of contribution received from noncontrolling shareholders over carrying value of the entity is recorded in additional paid in capital. The noncontrolling interests are presented in the consolidated balance sheets, separately from equity attributable to the shareholders of the Company. Noncontrolling interests in the results of the Company are presented on the face of the consolidated statement of operations as an allocation of the total income or loss for the year between non-controlling interest holders and the shareholders of the Company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Noncontrolling interests consist of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_896_ecustom--ScheduleOfNoncontrollingInterestsTableTextBlock_ziiZAJACAAQ9" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of significant accounting policies (Details 5)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8B9_zLcfePQAk2n4" style="display: none">Schedule of noncontrolling interests</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">Shanghai Weimu</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_985_ecustom--NoncontrollingInterests_pp0p0_c20241231__srt--OwnershipAxis__custom--ShanghaiWeimuMember_zDCo8psXGuC3" style="width: 9%; text-align: right" title="Total">4,495,040</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_989_ecustom--NoncontrollingInterests_pp0p0_c20251231__srt--OwnershipAxis__custom--ShanghaiWeimuMember_zrLfsFkqweB7" style="width: 9%; text-align: right" title="Total">2,512,517</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_989_ecustom--NoncontrollingInterests_iI_pp0p0_uUSD_c20251231__srt--OwnershipAxis__custom--ShanghaiWeimuMember_zTqVMhtsNo8a" style="width: 9%; text-align: right" title="Total">357,460</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Viwo Tech</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98B_ecustom--NoncontrollingInterests_pp0p0_c20241231__srt--OwnershipAxis__custom--ViwoTechMember_zr1c8PFc3kg9" style="border-bottom: Black 1pt solid; text-align: right" title="Total">13,092,921</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98A_ecustom--NoncontrollingInterests_pp0p0_c20251231__srt--OwnershipAxis__custom--ViwoTechMember_zrt4mw9x7J5e" style="border-bottom: Black 1pt solid; text-align: right" title="Total">28,729,950</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98C_ecustom--NoncontrollingInterests_iI_pp0p0_uUSD_c20251231__srt--OwnershipAxis__custom--ViwoTechMember_zrxcWNsScie" style="border-bottom: Black 1pt solid; text-align: right" title="Total">4,087,462</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 2.5pt">Total noncontrolling interests</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_983_ecustom--NoncontrollingInterests_pp0p0_c20241231_zJdy6MMWNfq9" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">17,587,961</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98C_ecustom--NoncontrollingInterests_iI_pp0p0_c20251231_zeN8hjzXRlSf" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">31,242,467</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98A_ecustom--NoncontrollingInterests_iI_pp0p0_uUSD_c20251231_zsu4GLBeyNQa" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">4,444,922</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AB_zSxQghmTnapc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> 0.42 0.45 <table cellpadding="0" cellspacing="0" id="xdx_896_ecustom--ScheduleOfNoncontrollingInterestsTableTextBlock_ziiZAJACAAQ9" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of significant accounting policies (Details 5)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8B9_zLcfePQAk2n4" style="display: none">Schedule of noncontrolling interests</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">Shanghai Weimu</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_985_ecustom--NoncontrollingInterests_pp0p0_c20241231__srt--OwnershipAxis__custom--ShanghaiWeimuMember_zDCo8psXGuC3" style="width: 9%; text-align: right" title="Total">4,495,040</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_989_ecustom--NoncontrollingInterests_pp0p0_c20251231__srt--OwnershipAxis__custom--ShanghaiWeimuMember_zrLfsFkqweB7" style="width: 9%; text-align: right" title="Total">2,512,517</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_989_ecustom--NoncontrollingInterests_iI_pp0p0_uUSD_c20251231__srt--OwnershipAxis__custom--ShanghaiWeimuMember_zTqVMhtsNo8a" style="width: 9%; text-align: right" title="Total">357,460</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Viwo Tech</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98B_ecustom--NoncontrollingInterests_pp0p0_c20241231__srt--OwnershipAxis__custom--ViwoTechMember_zr1c8PFc3kg9" style="border-bottom: Black 1pt solid; text-align: right" title="Total">13,092,921</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98A_ecustom--NoncontrollingInterests_pp0p0_c20251231__srt--OwnershipAxis__custom--ViwoTechMember_zrt4mw9x7J5e" style="border-bottom: Black 1pt solid; text-align: right" title="Total">28,729,950</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98C_ecustom--NoncontrollingInterests_iI_pp0p0_uUSD_c20251231__srt--OwnershipAxis__custom--ViwoTechMember_zrxcWNsScie" style="border-bottom: Black 1pt solid; text-align: right" title="Total">4,087,462</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 2.5pt">Total noncontrolling interests</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_983_ecustom--NoncontrollingInterests_pp0p0_c20241231_zJdy6MMWNfq9" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">17,587,961</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98C_ecustom--NoncontrollingInterests_iI_pp0p0_c20251231_zeN8hjzXRlSf" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">31,242,467</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98A_ecustom--NoncontrollingInterests_iI_pp0p0_uUSD_c20251231_zsu4GLBeyNQa" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">4,444,922</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 4495040 2512517 357460 13092921 28729950 4087462 17587961 31242467 4444922 <p id="xdx_84C_eus-gaap--EarningsPerSharePolicyTextBlock_zYncBblkglka" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_86E_zW560NZKl7L3">Earnings per share</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company computes earnings per share (“EPS”) in accordance with ASC 260, “Earnings per Share”. ASC 260 requires companies to present basic and diluted EPS. Basic EPS is measured as net income divided by the weighted average ordinary share outstanding for the period. Diluted EPS presents the dilutive effect on a per share basis of the potential Class A Ordinary shares (e.g., convertible securities, options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential Class A Ordinary shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. During the years ended December 31, 2024 and 2025, the basic shares were 3,669,215 shares and 7,659,818 shares¹, respectively, and the dilutive shares were <span id="xdx_90C_ecustom--DilutiveShares_c20240101__20241231_zbCTr9emJIhj">9,664,959 </span>shares and <span id="xdx_90D_ecustom--DilutiveShares_c20250101__20251231_zz8N8MpVFL1e">7,659,818 </span>shares¹, respectively. During the years ended December 31, 2024 and 2025, the basic earnings per share were RMB 10.52 and RMB 14.87 (USD 2.12), respectively, and the diluted earnings per share were RMB <span id="xdx_901_eus-gaap--EarningsPerShareDiluted_c20240101__20241231_zeQnff8n1e9k">3.99 </span>and RMB <span id="xdx_902_eus-gaap--EarningsPerShareDiluted_c20250101__20251231_z4f1J7jRA3db">14.87 </span>(USD <span id="xdx_904_eus-gaap--EarningsPerShareDiluted_uUSDPShares_c20250101__20251231_zTFzQbwhkMbe">2.12</span>), respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> 9664959 7659818 3.99 14.87 2.12 <p id="xdx_843_ecustom--StatutoryReservesPolicyTextBlock_z0rGTKotYbE2" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_86E_zRHQ72nJmwi8">Statutory reserves</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Pursuant to the laws applicable to the PRC, PRC entities must make appropriations from after-tax profit to the non-distributable “statutory surplus reserve fund”. Subject to certain cumulative limits, the “statutory surplus reserve fund” requires annual appropriations of 10% of after-tax profit until the aggregated appropriations reach 50% of the registered capital (as determined under accounting principles generally accepted in the PRC (“PRC GAAP”) at each year-end). For foreign invested enterprises and joint ventures in the PRC, annual appropriations should be made to the “reserve fund”. For foreign invested enterprises, the annual appropriation for the “reserve fund” cannot be less than 10% of after-tax profits until the aggregated appropriations reach 50% of the registered capital (as determined under PRC GAAP at each year-end). If the Company has accumulated loss from prior periods, the Company is able to use the current period net income after tax to offset against the accumulate loss.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_84F_eus-gaap--SegmentReportingPolicyPolicyTextBlock_zKLpDxqLNLye" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_86A_zBrs5zkNsf6d">Segment reporting</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">FASB ASC 280, Segment Reporting, establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in financial statements for details on the Company’s business segments.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company uses the management approach to determine reportable operating segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker (“CODM”) for making decisions, allocating resources and assessing performance. The Company’s CODM has been identified as the CEO, who reviews consolidated results when making decisions about allocating resources and assessing performance of the Company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Based on management’s assessment, the Company determined that it has one operating segment and therefore one reportable segment as defined by ASC 280, which is provided central processing algorithm services and intelligent chips and services. All of the Company’s net revenues were generated in the PRC and Hong Kong.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <div style="width: 25%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.25in; font-size: 10pt"><span style="font-size: 10pt"><i>¹</i></span></td> <td style="font-size: 10pt; text-align: justify"><span style="font-size: 10pt"><i>Number of shares has been retrospectively adjusted for the share consolidation (10 to 1, 20 to 1, and 30 to 1) effective March 22, 2024, December 13, 2024 and July 16, 2025.</i></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_847_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zYyt1mPm7bX8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_86E_zoJyj8wfcGHf">Recently issued accounting pronouncements</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">On November 27, 2023, the FASB issued ASU 2024-03, “Income Statement—Reporting Comprehensive Income (Subtopic 220-40): Disaggregation of Income Statement Expenses.” This pronouncement introduces new disclosure requirements aimed at enhancing transparency in financial reporting by requiring disaggregation of specific income statement expense captions. Under the new guidance, entities are required to disclose a breakdown of certain expense categories, such as: employee compensation; depreciation; amortization, and other material components. The disaggregated information can be presented either on the face of the income statement or in the notes to the financial statements, often using a tabular format. The amendments will be effective for fiscal years beginning after December 15, 2025, and interim periods within those fiscal years. Early adoption is permitted. In January 2025, the FASB issued ASU 2025-01, which revises the effective date of ASU 2024-03 (on disclosures about disaggregation of income statement expenses) “to clarify that all public business entities are required to adopt the guidance in annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027”. Entities within the ASU’s scope are permitted to early adopt the ASU. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07"), which expands annual and interim disclosure requirements for reportable segments. On adoption, the disclosure improvements will be applied retrospectively to prior periods presented. The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company disclosures in respect of this ASU are included in <i>Note 19 - Segments</i>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">In December 2023, the FASB issued ASU 2023-09, which is an update to Topic 740, Income Taxes. The amendments in this update related to the rate reconciliation and income taxes paid disclosures improve the transparency of income tax disclosures by requiring (1) adding disclosures of pretax income (or loss) and income tax expense (or benefit) to be consistent with U.S. Securities and Exchange Commission (the “SEC”) Regulation S-X 210.4-08(h), Rules of General Application — General Notes to Financial Statements: Income Tax Expense, and (2) removing disclosures that no longer are considered cost beneficial or relevant. For public business entities, the amendments in this Update are effective for annual periods beginning after December 15, 2024. For entities other than public business entities, the amendments are effective for annual periods beginning after December 15, 2025. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The amendments in this update should be applied on a prospective basis. Retrospective application is permitted. The Company does not plan to early adopt ASU 2023-09 and is evaluating the impact of adoption of ASU 2023-09 on the consolidated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">In June 2025, the Financial Accounting Standards Board (<span style="font-family: Times New Roman, Times, Serif">“</span>FASB<span style="font-family: Times New Roman, Times, Serif">”</span>) issued Accounting Standards Update (<span style="font-family: Times New Roman, Times, Serif">“</span>ASU<span style="font-family: Times New Roman, Times, Serif">”</span>) No. 2025-05- Financial Instruments<span style="font-family: Times New Roman, Times, Serif">—</span>Credit Losses (Topic 326). The current credit loss guidance in Topic 326 requires that an entity consider available information that is relevant to assessing the collectibility of cash flows when developing an estimate of expected credit losses. The historical credit loss experience of financial assets with similar risk characteristics generally provides a basis for an entity<span style="font-family: Times New Roman, Times, Serif">’</span>s assessment of expected credit losses. However, an entity is required to consider adjustments to that information to reflect the extent to which management expects current conditions and reasonable and supportable forecasts to differ from the conditions that existed for the period over which historical information was evaluated. Those adjustments may be qualitative in nature and should reflect current conditions and forecasted changes related to relevant data (such as changes in unemployment rates, property values, commodity values, delinquency, or other factors that are associated with credit losses on the financial asset or in the group of financial assets). In addition, under current guidance, an entity would not consider collection activity after the balance sheet date when developing its estimate of expected credit losses. The amendments will be effective for annual reporting periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods. Early adoption is permitted in both interim and annual reporting periods in which financial statements have not yet been issued or made available for issuance.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 20pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Except as mentioned above, the Company does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the Company’s consolidated balance sheets, statements of income and comprehensive income and statements of cash flows.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p id="xdx_807_ecustom--DeconsolidationTextBlock_zw7a1WzU4Ni9" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><b>Note 3 — <span id="xdx_82C_zz8OckM73MW9">Deconsolidation</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration: underline">Disposal of Shenzhen Yiyou Online Technology Co., Ltd. (“YY Online”)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">On May 20, 2024, the Company’s board of directors approved the equity transfer agreement between Hainan Weidong Technology Co., Ltd. (“Hainan Weidong”) and a related individual to transfer 100% equity interest of YY Online to the related individual with RMB 10 (USD 1.4). The disposal resulted in a gain from disposal of approximately RMB <span id="xdx_904_ecustom--GainFromDisposal_c20240501__20240520_zelSCWlSE7C1" title="Gain from disposal">1,416,187</span> (USD <span id="xdx_90B_ecustom--GainFromDisposal_uUSD_c20240501__20240520_zlMQvpnkDO4" title="Gain from disposal">197,010</span>). Since the disposal did not represent any strategic change of the Company’s operation, the disposal was not presented as discontinued operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in; text-align: justify">Net assets of the entities disposed and loss on disposal was as follows as of the year end December 31, 2024:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <table cellpadding="0" cellspacing="0" id="xdx_89B_ecustom--NetAssetsOfTheEntitiesDisposedTableTextBlock_zFt7kDuJep99" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Deconsolidation (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8B2_zPrurnQrjs7" style="display: none">Schedule of net assets of the entities disposed</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right" title="Total non-current assets"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right" title="Total non-current assets"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 76%; text-align: left">Total current assets</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_985_eus-gaap--AssetsCurrent_iI_pp0p0_c20251231__dei--LegalEntityAxis__custom--ShenzhenYiyouOnlineTechnologyCoMember_zjuOdEnwlZJi" style="width: 9%; text-align: right" title="Total current assets">216,613</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98E_eus-gaap--AssetsCurrent_iI_pp0p0_uUSD_c20251231__dei--LegalEntityAxis__custom--ShenzhenYiyouOnlineTechnologyCoMember_zdMLxyA1JXf3" style="width: 9%; text-align: right" title="Total current assets">30,134</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Total non-current assets</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98B_eus-gaap--AssetsNoncurrent_iI_pp0p0_c20251231__dei--LegalEntityAxis__custom--ShenzhenYiyouOnlineTechnologyCoMember_zhTDDVIG3ACe" style="text-align: right" title="Total non-current assets">400,000</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_987_eus-gaap--AssetsNoncurrent_iI_pp0p0_uUSD_c20251231__dei--LegalEntityAxis__custom--ShenzhenYiyouOnlineTechnologyCoMember_zak87sDkp2aa" style="text-align: right" title="Total non-current assets">55,645</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Total assets</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98C_eus-gaap--Assets_iI_pp0p0_c20251231__dei--LegalEntityAxis__custom--ShenzhenYiyouOnlineTechnologyCoMember_zcV9hQUz7bG3" style="border-bottom: Black 1pt solid; text-align: right" title="Total assets">616,613</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_988_eus-gaap--Assets_iI_pp0p0_uUSD_c20251231__dei--LegalEntityAxis__custom--ShenzhenYiyouOnlineTechnologyCoMember_zgwbv7r4MHH5" style="border-bottom: Black 1pt solid; text-align: right" title="Total assets">85,779</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Total liabilities</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_989_eus-gaap--Liabilities_iI_pp0p0_c20251231__dei--LegalEntityAxis__custom--ShenzhenYiyouOnlineTechnologyCoMember_zWjeskQWifd7" style="text-align: right" title="Total liabilities">1,632,790</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98E_eus-gaap--Liabilities_iI_pp0p0_uUSD_c20251231__dei--LegalEntityAxis__custom--ShenzhenYiyouOnlineTechnologyCoMember_zHXW1jfewai2" style="text-align: right" title="Total liabilities">227,142</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Total net assets</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98B_eus-gaap--AssetsNet_iI_pp0p0_c20251231__dei--LegalEntityAxis__custom--ShenzhenYiyouOnlineTechnologyCoMember_zouqXkCXbio2" style="text-align: right" title="Total net assets">(1,016,177</td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_985_eus-gaap--AssetsNet_iI_pp0p0_uUSD_c20251231__dei--LegalEntityAxis__custom--ShenzhenYiyouOnlineTechnologyCoMember_zKqaskkNu5vl" style="text-align: right" title="Total net assets">(141,363</td> <td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Total consideration</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_986_ecustom--TotalConsideration_iI_pp0p0_c20251231__dei--LegalEntityAxis__custom--ShenzhenYiyouOnlineTechnologyCoMember_z2ztnNyvLbvi" style="border-bottom: Black 1pt solid; text-align: right" title="Total consideration">10</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98D_ecustom--TotalConsideration_iI_pp0p0_uUSD_c20251231__dei--LegalEntityAxis__custom--ShenzhenYiyouOnlineTechnologyCoMember_zkBY1QoeK0a5" style="border-bottom: Black 1pt solid; text-align: right" title="Total consideration">1</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt">Total loss on disposal</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_989_eus-gaap--GainLossOnDispositionOfAssets1_pp0p0_c20250101__20251231__dei--LegalEntityAxis__custom--ShenzhenYiyouOnlineTechnologyCoMember_zbwUWlsYMkB6" style="border-bottom: Black 2.5pt double; text-align: right" title="Total loss on disposal">1,416,187</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_983_eus-gaap--GainLossOnDispositionOfAssets1_pp0p0_uUSD_c20250101__20251231__dei--LegalEntityAxis__custom--ShenzhenYiyouOnlineTechnologyCoMember_zN0LTThR8h61" style="border-bottom: Black 2.5pt double; text-align: right" title="Total loss on disposal">197,010</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A9_zCzABH3jWvC8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration: underline">Disposal of Khorgas Weidong Technology Co., Ltd. (“Khorgas Weidong”)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">On October 21, 2024, the Company’s board of directors approved the disposal of Khorgas Weidong. The disposal resulted in a loss from disposal of approximately RMB <span id="xdx_905_ecustom--GainFromDisposal_c20241001__20241021_zlQe2Alv4mG8">56,134,710</span> (USD <span id="xdx_909_ecustom--GainFromDisposal_uUSD_c20241001__20241021_zmIPAeCiXVf8">7,809,069</span>). Since the disposal did not represent any strategic change of the Company’s operation, the disposal was not presented as discontinued operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> 1416187 197010 <table cellpadding="0" cellspacing="0" id="xdx_89B_ecustom--NetAssetsOfTheEntitiesDisposedTableTextBlock_zFt7kDuJep99" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Deconsolidation (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8B2_zPrurnQrjs7" style="display: none">Schedule of net assets of the entities disposed</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right" title="Total non-current assets"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right" title="Total non-current assets"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 76%; text-align: left">Total current assets</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_985_eus-gaap--AssetsCurrent_iI_pp0p0_c20251231__dei--LegalEntityAxis__custom--ShenzhenYiyouOnlineTechnologyCoMember_zjuOdEnwlZJi" style="width: 9%; text-align: right" title="Total current assets">216,613</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98E_eus-gaap--AssetsCurrent_iI_pp0p0_uUSD_c20251231__dei--LegalEntityAxis__custom--ShenzhenYiyouOnlineTechnologyCoMember_zdMLxyA1JXf3" style="width: 9%; text-align: right" title="Total current assets">30,134</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Total non-current assets</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98B_eus-gaap--AssetsNoncurrent_iI_pp0p0_c20251231__dei--LegalEntityAxis__custom--ShenzhenYiyouOnlineTechnologyCoMember_zhTDDVIG3ACe" style="text-align: right" title="Total non-current assets">400,000</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_987_eus-gaap--AssetsNoncurrent_iI_pp0p0_uUSD_c20251231__dei--LegalEntityAxis__custom--ShenzhenYiyouOnlineTechnologyCoMember_zak87sDkp2aa" style="text-align: right" title="Total non-current assets">55,645</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Total assets</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98C_eus-gaap--Assets_iI_pp0p0_c20251231__dei--LegalEntityAxis__custom--ShenzhenYiyouOnlineTechnologyCoMember_zcV9hQUz7bG3" style="border-bottom: Black 1pt solid; text-align: right" title="Total assets">616,613</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_988_eus-gaap--Assets_iI_pp0p0_uUSD_c20251231__dei--LegalEntityAxis__custom--ShenzhenYiyouOnlineTechnologyCoMember_zgwbv7r4MHH5" style="border-bottom: Black 1pt solid; text-align: right" title="Total assets">85,779</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Total liabilities</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_989_eus-gaap--Liabilities_iI_pp0p0_c20251231__dei--LegalEntityAxis__custom--ShenzhenYiyouOnlineTechnologyCoMember_zWjeskQWifd7" style="text-align: right" title="Total liabilities">1,632,790</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98E_eus-gaap--Liabilities_iI_pp0p0_uUSD_c20251231__dei--LegalEntityAxis__custom--ShenzhenYiyouOnlineTechnologyCoMember_zHXW1jfewai2" style="text-align: right" title="Total liabilities">227,142</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Total net assets</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98B_eus-gaap--AssetsNet_iI_pp0p0_c20251231__dei--LegalEntityAxis__custom--ShenzhenYiyouOnlineTechnologyCoMember_zouqXkCXbio2" style="text-align: right" title="Total net assets">(1,016,177</td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_985_eus-gaap--AssetsNet_iI_pp0p0_uUSD_c20251231__dei--LegalEntityAxis__custom--ShenzhenYiyouOnlineTechnologyCoMember_zKqaskkNu5vl" style="text-align: right" title="Total net assets">(141,363</td> <td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Total consideration</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_986_ecustom--TotalConsideration_iI_pp0p0_c20251231__dei--LegalEntityAxis__custom--ShenzhenYiyouOnlineTechnologyCoMember_z2ztnNyvLbvi" style="border-bottom: Black 1pt solid; text-align: right" title="Total consideration">10</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98D_ecustom--TotalConsideration_iI_pp0p0_uUSD_c20251231__dei--LegalEntityAxis__custom--ShenzhenYiyouOnlineTechnologyCoMember_zkBY1QoeK0a5" style="border-bottom: Black 1pt solid; text-align: right" title="Total consideration">1</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt">Total loss on disposal</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_989_eus-gaap--GainLossOnDispositionOfAssets1_pp0p0_c20250101__20251231__dei--LegalEntityAxis__custom--ShenzhenYiyouOnlineTechnologyCoMember_zbwUWlsYMkB6" style="border-bottom: Black 2.5pt double; text-align: right" title="Total loss on disposal">1,416,187</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_983_eus-gaap--GainLossOnDispositionOfAssets1_pp0p0_uUSD_c20250101__20251231__dei--LegalEntityAxis__custom--ShenzhenYiyouOnlineTechnologyCoMember_zN0LTThR8h61" style="border-bottom: Black 2.5pt double; text-align: right" title="Total loss on disposal">197,010</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 216613 30134 400000 55645 616613 85779 1632790 227142 -1016177 -141363 10 1 1416187 197010 56134710 7809069 <p id="xdx_80E_eus-gaap--CashCashEquivalentsAndShortTermInvestmentsTextBlock_zY8aEoP6Q9k8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><b>Note 4 — <span id="xdx_824_zVxAFASr04vi">Short-term investments</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Short-term investments consist of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_891_eus-gaap--MarketableSecuritiesTextBlock_zCVgqR31ycWc" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Short term investments (Details)"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"><span id="xdx_8BF_z0hG0J9AbyZ9" style="display: none">Schedule of short term investments consist</span></td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">Marketable securities</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_983_eus-gaap--MarketableSecurities_iI_pp0p0_c20241231_zNYmcTIY3kt3" style="width: 9%; text-align: right" title="Marketable securities">149,583,000</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98C_eus-gaap--MarketableSecurities_pp0p0_c20251231_zgtYxR3i8Jq5" style="width: 9%; text-align: right" title="Marketable securities">1,138,090,600</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98C_eus-gaap--MarketableSecurities_iI_pp0p0_uUSD_c20251231_zeLa4GzcoRDa" style="width: 9%; text-align: right" title="Marketable securities">161,918,194</td> <td style="width: 1%; text-align: left"> </td></tr> </table> <p style="text-indent: 0.25in; margin-top: 0; margin-bottom: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Fair value disclosure:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: center"> </td> <td style="padding-bottom: 1pt"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td> <td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31,</b></span></td> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> Fair Value</b></span></td> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2024</span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1</span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2</span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3</span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>RMB </b></span></td> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>RMB </b></span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>RMB </b></span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>RMB </b></span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 52%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marketable securities</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98C_eus-gaap--MarketableSecurities_iI_pp0p0_c20241231_zWVpqHiBgNT3" style="width: 9%; text-align: right" title="Marketable securities"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">149,583,000</span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_985_eus-gaap--MarketableSecurities_iI_pp0p0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zBIQkr2I0t4l" style="width: 9%; text-align: right" title="Marketable securities"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">149,583,000</span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_983_eus-gaap--MarketableSecurities_iI_pp0p0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zkioPCzGcKVe" style="width: 9%; text-align: right" title="Marketable securities"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1477">-</span></span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98B_eus-gaap--MarketableSecurities_iI_pp0p0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zCQu1wM2lwZe" style="width: 9%; text-align: right" title="Marketable securities"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1479">-</span></span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table> <p style="text-indent: 0.25in; margin-top: 0; margin-bottom: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: center"> </td> <td style="padding-bottom: 1pt"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31,</b></span></td> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2025</b></span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level 1</b></span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level 2</b></span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level 3</b></span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>RMB </b></span></td> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>RMB </b></span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>RMB </b></span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>RMB </b></span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 52%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marketable securities</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_989_eus-gaap--MarketableSecurities_iI_pp0p0_c20251231_zMfSqKuheG84" style="width: 9%; text-align: right" title="Marketable securities"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,138,090,600</span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_986_eus-gaap--MarketableSecurities_iI_pp0p0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zOKgpagh9871" style="width: 9%; text-align: right" title="Marketable securities"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,138,090,600</span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98A_eus-gaap--MarketableSecurities_iI_pp0p0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zNCgcUWMfbag" style="width: 9%; text-align: right" title="Marketable securities"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1485">-</span></span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_986_eus-gaap--MarketableSecurities_iI_pp0p0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zKy6p65KLhM5" style="width: 9%; text-align: right" title="Marketable securities"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1487">-</span></span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table> <p id="xdx_8A3_z0UQVHXME8Xg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">There is no transfer between the levels for the periods presented. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">As of December 31, 2024 and 2025, short-term investments amounted to RMB <span id="xdx_907_eus-gaap--ShortTermInvestments_iI_pp0p0_c20241231_z84XzR2uSI2k" title="Short term investments">149,583,000 </span>and RMB <span id="xdx_90E_eus-gaap--ShortTermInvestments_iI_c20251231_zOmnMr0O3p34" title="Short term investments">1,138,090,600 </span>(USD <span id="xdx_907_eus-gaap--ShortTermInvestments_iI_uUSD_c20251231_zaBuJETwCry" title="Short term investments">161,918,194</span>), respectively. During the year ended December 31, 2025, the Company invested a total amount of RMB <span id="xdx_90C_eus-gaap--InvestmentOwnedAtCost_iI_c20251231_zR2JZExXk999">935,966,450 </span>(USD <span id="xdx_908_eus-gaap--InvestmentOwnedAtCost_iI_uUSD_c20251231_z7RhVyL7a5Z8">133,161,628</span>), redeemed a total amount of RMB 79,710,800 (USD 11,340,599), and the unrealized and realized gain from short-term investments was approximately RMB <span id="xdx_90E_eus-gaap--InvestmentOwnedAtFairValue_iI_c20251231_z9JGhlpJ8nVh">132,251,950 </span>(USD <span id="xdx_903_eus-gaap--InvestmentOwnedAtFairValue_iI_uUSD_c20251231_zWyPs2dbzav9">18,815,722</span>) in total.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_891_eus-gaap--MarketableSecuritiesTextBlock_zCVgqR31ycWc" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Short term investments (Details)"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"><span id="xdx_8BF_z0hG0J9AbyZ9" style="display: none">Schedule of short term investments consist</span></td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">Marketable securities</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_983_eus-gaap--MarketableSecurities_iI_pp0p0_c20241231_zNYmcTIY3kt3" style="width: 9%; text-align: right" title="Marketable securities">149,583,000</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98C_eus-gaap--MarketableSecurities_pp0p0_c20251231_zgtYxR3i8Jq5" style="width: 9%; text-align: right" title="Marketable securities">1,138,090,600</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98C_eus-gaap--MarketableSecurities_iI_pp0p0_uUSD_c20251231_zeLa4GzcoRDa" style="width: 9%; text-align: right" title="Marketable securities">161,918,194</td> <td style="width: 1%; text-align: left"> </td></tr> </table> <p style="text-indent: 0.25in; margin-top: 0; margin-bottom: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Fair value disclosure:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: center"> </td> <td style="padding-bottom: 1pt"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td> <td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31,</b></span></td> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> Fair Value</b></span></td> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2024</span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1</span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2</span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3</span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>RMB </b></span></td> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>RMB </b></span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>RMB </b></span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>RMB </b></span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 52%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marketable securities</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98C_eus-gaap--MarketableSecurities_iI_pp0p0_c20241231_zWVpqHiBgNT3" style="width: 9%; text-align: right" title="Marketable securities"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">149,583,000</span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_985_eus-gaap--MarketableSecurities_iI_pp0p0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zBIQkr2I0t4l" style="width: 9%; text-align: right" title="Marketable securities"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">149,583,000</span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_983_eus-gaap--MarketableSecurities_iI_pp0p0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zkioPCzGcKVe" style="width: 9%; text-align: right" title="Marketable securities"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1477">-</span></span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98B_eus-gaap--MarketableSecurities_iI_pp0p0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zCQu1wM2lwZe" style="width: 9%; text-align: right" title="Marketable securities"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1479">-</span></span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table> <p style="text-indent: 0.25in; margin-top: 0; margin-bottom: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: center"> </td> <td style="padding-bottom: 1pt"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31,</b></span></td> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2025</b></span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level 1</b></span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level 2</b></span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level 3</b></span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>RMB </b></span></td> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>RMB </b></span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>RMB </b></span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>RMB </b></span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 52%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marketable securities</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_989_eus-gaap--MarketableSecurities_iI_pp0p0_c20251231_zMfSqKuheG84" style="width: 9%; text-align: right" title="Marketable securities"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,138,090,600</span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_986_eus-gaap--MarketableSecurities_iI_pp0p0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zOKgpagh9871" style="width: 9%; text-align: right" title="Marketable securities"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,138,090,600</span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98A_eus-gaap--MarketableSecurities_iI_pp0p0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zNCgcUWMfbag" style="width: 9%; text-align: right" title="Marketable securities"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1485">-</span></span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_986_eus-gaap--MarketableSecurities_iI_pp0p0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zKy6p65KLhM5" style="width: 9%; text-align: right" title="Marketable securities"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1487">-</span></span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table> 149583000 1138090600 161918194 149583000 149583000 1138090600 1138090600 149583000 1138090600 161918194 935966450 133161628 132251950 18815722 <p id="xdx_803_eus-gaap--AccountsAndNontradeReceivableTextBlock_zXvcjH5HAz5j" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><b>Note 5 — <span id="xdx_82F_zqtGThdMm7Ge">Accounts receivable, net</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Accounts receivable, net consisted of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_z8IBLDhqqe21" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Accounts receivable, net (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt"><span id="xdx_8B3_zkf3Lyi8OhKa" style="display: none">Schedule of accounts receivable, net</span></td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td id="xdx_49E_20241231_zzNxJRA3U4Hb" style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td id="xdx_499_20251231_z3aFIUVPVuV7" style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--AccountsReceivableGross_iI_pp0p0_maARNzdO6_z2S8fHjVlUb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">Accounts receivable</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right">23,714,517</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right">43,587,890</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_981_eus-gaap--AccountsReceivableGross_iI_pp0p0_uUSD_c20251231_zhJLL2mJC5Dc" style="width: 9%; text-align: right" title="Accounts receivable">6,201,327</td> <td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iNI_pp0p0_di_msARNzdO6_zQ5j4ef2grje" style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Less: allowance of credit losses</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1509">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1510">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98B_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iNI_pp0p0_di_uUSD_c20251231_zqWgzi5tduuc" style="border-bottom: Black 1pt solid; text-align: right" title="Less: allowance of credit losses"><span style="-sec-ix-hidden: xdx2ixbrl1512">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AccountsReceivableNet_iTI_pp0p0_mtARNzdO6_zGvNCJXRp1a2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 2.5pt">Accounts receivable, net</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">23,714,517</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">43,587,890</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_987_eus-gaap--AccountsReceivableNet_iTI_pp0p0_uUSD_c20251231_zWjEAMM0uFHl" style="border-bottom: Black 2.5pt double; text-align: right" title="Accounts receivable, net">6,201,327</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A2_zUDVE4gxu118" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The following table summarizes the changes in credit losses:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--AccountsReceivableAllowanceForCreditLossTableTextBlock_zunjKtBFVgq6" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Accounts receivable, net (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8B8_zAbKCGKzwTn3" style="display: none">Schedule of changes in allowance for doubtful accounts</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">Beginning balance</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_984_ecustom--AllowanceForDoubtfulAccountsReceivables_iS_pp0p0_c20240101__20241231_zppGDhJxEysd" style="width: 9%; text-align: right" title="Beginning balance">3,951,391</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98C_ecustom--AllowanceForDoubtfulAccountsReceivables_iS_pp0p0_c20250101__20251231_zh3Apvo1nO78" style="width: 9%; text-align: right" title="Beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl1523">-</span></td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_983_ecustom--AllowanceForDoubtfulAccountsReceivables_iS_pp0p0_uUSD_c20250101__20251231_zK7SKLKxhar3" style="width: 9%; text-align: right" title="Beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl1525">-</span></td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Addition</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_985_ecustom--AllowanceForDoubtfulAccountsAddition_pp0p0_c20240101__20241231_zBzkMGKmTvqi" style="text-align: right" title="Addition"><span style="-sec-ix-hidden: xdx2ixbrl1527">-</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98E_ecustom--AllowanceForDoubtfulAccountsAddition_pp0p0_c20250101__20251231_zELwoXlr80cj" style="text-align: right" title="Addition"><span style="-sec-ix-hidden: xdx2ixbrl1529">-</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_982_ecustom--AllowanceForDoubtfulAccountsAddition_pp0p0_uUSD_c20250101__20251231_zkIsyfpSEy3k" style="text-align: right" title="Addition"><span style="-sec-ix-hidden: xdx2ixbrl1531">-</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Recovery</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_981_eus-gaap--AllowanceForDoubtfulAccountsReceivableRecoveries_iN_pp0p0_di_c20240101__20241231_zFuvh5R05Zxd" style="border-bottom: Black 1pt solid; text-align: right" title="Recovery">(3,951,391</td> <td style="padding-bottom: 1pt; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_987_eus-gaap--AllowanceForDoubtfulAccountsReceivableRecoveries_iN_pp0p0_di_c20250101__20251231_zcQtzb01Ync9" style="border-bottom: Black 1pt solid; text-align: right" title="Recovery"><span style="-sec-ix-hidden: xdx2ixbrl1535">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_989_eus-gaap--AllowanceForDoubtfulAccountsReceivableRecoveries_iN_pp0p0_di_uUSD_c20250101__20251231_z1NoTsBV7XZ5" style="border-bottom: Black 1pt solid; text-align: right" title="Recovery"><span style="-sec-ix-hidden: xdx2ixbrl1537">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt">Ending balance</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_981_ecustom--AllowanceForDoubtfulAccountsReceivables_iE_pp0p0_c20240101__20241231_zWW0RMpO0Fdj" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance"><span style="-sec-ix-hidden: xdx2ixbrl1539">-</span></td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98F_ecustom--AllowanceForDoubtfulAccountsReceivables_iE_pp0p0_c20250101__20251231_z6WOwnukYI07" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance"><span style="-sec-ix-hidden: xdx2ixbrl1541">-</span></td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_981_ecustom--AllowanceForDoubtfulAccountsReceivables_iE_pp0p0_uUSD_c20250101__20251231_z9KywcTRBide" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance"><span style="-sec-ix-hidden: xdx2ixbrl1543">-</span></td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AD_z6A38eD60nJ2" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Credit losses for the years ended December 31, 2024 and 2025 amounted to nil and nil, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_z8IBLDhqqe21" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Accounts receivable, net (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt"><span id="xdx_8B3_zkf3Lyi8OhKa" style="display: none">Schedule of accounts receivable, net</span></td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td id="xdx_49E_20241231_zzNxJRA3U4Hb" style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td id="xdx_499_20251231_z3aFIUVPVuV7" style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--AccountsReceivableGross_iI_pp0p0_maARNzdO6_z2S8fHjVlUb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">Accounts receivable</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right">23,714,517</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right">43,587,890</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_981_eus-gaap--AccountsReceivableGross_iI_pp0p0_uUSD_c20251231_zhJLL2mJC5Dc" style="width: 9%; text-align: right" title="Accounts receivable">6,201,327</td> <td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iNI_pp0p0_di_msARNzdO6_zQ5j4ef2grje" style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Less: allowance of credit losses</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1509">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1510">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98B_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iNI_pp0p0_di_uUSD_c20251231_zqWgzi5tduuc" style="border-bottom: Black 1pt solid; text-align: right" title="Less: allowance of credit losses"><span style="-sec-ix-hidden: xdx2ixbrl1512">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AccountsReceivableNet_iTI_pp0p0_mtARNzdO6_zGvNCJXRp1a2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 2.5pt">Accounts receivable, net</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">23,714,517</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">43,587,890</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_987_eus-gaap--AccountsReceivableNet_iTI_pp0p0_uUSD_c20251231_zWjEAMM0uFHl" style="border-bottom: Black 2.5pt double; text-align: right" title="Accounts receivable, net">6,201,327</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 23714517 43587890 6201327 23714517 43587890 6201327 <table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--AccountsReceivableAllowanceForCreditLossTableTextBlock_zunjKtBFVgq6" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Accounts receivable, net (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8B8_zAbKCGKzwTn3" style="display: none">Schedule of changes in allowance for doubtful accounts</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">Beginning balance</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_984_ecustom--AllowanceForDoubtfulAccountsReceivables_iS_pp0p0_c20240101__20241231_zppGDhJxEysd" style="width: 9%; text-align: right" title="Beginning balance">3,951,391</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98C_ecustom--AllowanceForDoubtfulAccountsReceivables_iS_pp0p0_c20250101__20251231_zh3Apvo1nO78" style="width: 9%; text-align: right" title="Beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl1523">-</span></td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_983_ecustom--AllowanceForDoubtfulAccountsReceivables_iS_pp0p0_uUSD_c20250101__20251231_zK7SKLKxhar3" style="width: 9%; text-align: right" title="Beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl1525">-</span></td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Addition</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_985_ecustom--AllowanceForDoubtfulAccountsAddition_pp0p0_c20240101__20241231_zBzkMGKmTvqi" style="text-align: right" title="Addition"><span style="-sec-ix-hidden: xdx2ixbrl1527">-</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98E_ecustom--AllowanceForDoubtfulAccountsAddition_pp0p0_c20250101__20251231_zELwoXlr80cj" style="text-align: right" title="Addition"><span style="-sec-ix-hidden: xdx2ixbrl1529">-</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_982_ecustom--AllowanceForDoubtfulAccountsAddition_pp0p0_uUSD_c20250101__20251231_zkIsyfpSEy3k" style="text-align: right" title="Addition"><span style="-sec-ix-hidden: xdx2ixbrl1531">-</span></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Recovery</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_981_eus-gaap--AllowanceForDoubtfulAccountsReceivableRecoveries_iN_pp0p0_di_c20240101__20241231_zFuvh5R05Zxd" style="border-bottom: Black 1pt solid; text-align: right" title="Recovery">(3,951,391</td> <td style="padding-bottom: 1pt; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_987_eus-gaap--AllowanceForDoubtfulAccountsReceivableRecoveries_iN_pp0p0_di_c20250101__20251231_zcQtzb01Ync9" style="border-bottom: Black 1pt solid; text-align: right" title="Recovery"><span style="-sec-ix-hidden: xdx2ixbrl1535">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_989_eus-gaap--AllowanceForDoubtfulAccountsReceivableRecoveries_iN_pp0p0_di_uUSD_c20250101__20251231_z1NoTsBV7XZ5" style="border-bottom: Black 1pt solid; text-align: right" title="Recovery"><span style="-sec-ix-hidden: xdx2ixbrl1537">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt">Ending balance</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_981_ecustom--AllowanceForDoubtfulAccountsReceivables_iE_pp0p0_c20240101__20241231_zWW0RMpO0Fdj" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance"><span style="-sec-ix-hidden: xdx2ixbrl1539">-</span></td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98F_ecustom--AllowanceForDoubtfulAccountsReceivables_iE_pp0p0_c20250101__20251231_z6WOwnukYI07" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance"><span style="-sec-ix-hidden: xdx2ixbrl1541">-</span></td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_981_ecustom--AllowanceForDoubtfulAccountsReceivables_iE_pp0p0_uUSD_c20250101__20251231_z9KywcTRBide" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance"><span style="-sec-ix-hidden: xdx2ixbrl1543">-</span></td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 3951391 3951391 <p id="xdx_807_eus-gaap--PropertyPlantAndEquipmentDisclosureTextBlock_zv00EVrZUGmf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><b>Note 6 — <span id="xdx_82C_zMoMQ1rmQVz9">Property and equipment, net</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Property and equipment, net consist of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_887_eus-gaap--PropertyPlantAndEquipmentTextBlock_zlZl7hUbQmR6" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Property and equipment, net (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8B6_z8P2ddUz4hJ3" style="display: none">Schedule of property and equipment, net</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">Office electronic equipment</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_z3AtYsSoi7m9" style="width: 9%; text-align: right" title="Sub total">20,448</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zZYJj2lGRe2d" style="width: 9%; text-align: right" title="Sub total">20,448</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_980_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zAR4d7kKkuig" style="width: 9%; text-align: right" title="Sub total">2,909</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Office fixtures and furniture</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_988_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zoLnacnkM4m9" style="text-align: right" title="Sub total">147,312</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98B_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zplP31L4WX85" style="text-align: right" title="Sub total">155,461</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zUjZWzFF6ysb" style="text-align: right" title="Sub total">22,118</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Vehicles</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_988_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_za04NzumEaC3" style="text-align: right" title="Sub total">1,201,452</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_987_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zqjX6ejqUra3" style="text-align: right" title="Sub total">1,201,452</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_982_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zZYEHOtow4Ec" style="text-align: right" title="Sub total">170,933</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left">Subtotal</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20241231_zoAQuYKfIkDd" style="text-align: right" title="Sub total">1,369,212</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_987_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20251231_zHZPbxkKmON6" style="text-align: right" title="Sub total">1,377,361</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20251231_zBqIQoD7sJpl" style="text-align: right" title="Sub total">195,960</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Less: accumulated depreciation</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98A_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_c20241231_zrjoEkZR8Nla" style="border-bottom: Black 1pt solid; text-align: right" title="Less: accumulated depreciation">(923,842</td> <td style="padding-bottom: 1pt; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98B_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_c20251231_zxHl1lzv9Naf" style="border-bottom: Black 1pt solid; text-align: right" title="Less: accumulated depreciation">(1,250,199</td> <td style="padding-bottom: 1pt; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_983_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_uUSD_c20251231_zdK0SV1h1SO7" style="border-bottom: Black 1pt solid; text-align: right" title="Less: accumulated depreciation">(177,868</td> <td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt">Total</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98B_eus-gaap--PropertyPlantAndEquipmentNet_pp0p0_c20241231_zlzPLArLdKF7" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">445,370</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_980_eus-gaap--PropertyPlantAndEquipmentNet_pp0p0_c20251231_zgLnXwiGE35e" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">127,162</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_982_eus-gaap--PropertyPlantAndEquipmentNet_iI_pp0p0_uUSD_c20251231_zDUSowDbcMSk" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">18,092</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Depreciation expense for the years ended December 31, 2024 and 2025 amounted to RMB <span id="xdx_907_eus-gaap--Depreciation_pp0p0_c20240101__20241231_zp4atkemqBwa" title="Accumulated depreciation expense">331,347</span> and RMB <span id="xdx_909_eus-gaap--Depreciation_pp0p0_c20250101__20251231_z2fOD6d6alm7" title="Accumulated depreciation expense">326,357</span> (USD <span id="xdx_908_eus-gaap--Depreciation_pp0p0_uUSD_c20250101__20251231_zbIWuhceTvv" title="Accumulated depreciation expense">46,431</span>), respectively. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_887_eus-gaap--PropertyPlantAndEquipmentTextBlock_zlZl7hUbQmR6" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Property and equipment, net (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8B6_z8P2ddUz4hJ3" style="display: none">Schedule of property and equipment, net</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">Office electronic equipment</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_z3AtYsSoi7m9" style="width: 9%; text-align: right" title="Sub total">20,448</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zZYJj2lGRe2d" style="width: 9%; text-align: right" title="Sub total">20,448</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_980_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zAR4d7kKkuig" style="width: 9%; text-align: right" title="Sub total">2,909</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Office fixtures and furniture</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_988_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zoLnacnkM4m9" style="text-align: right" title="Sub total">147,312</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98B_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zplP31L4WX85" style="text-align: right" title="Sub total">155,461</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zUjZWzFF6ysb" style="text-align: right" title="Sub total">22,118</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Vehicles</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_988_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_za04NzumEaC3" style="text-align: right" title="Sub total">1,201,452</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_987_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zqjX6ejqUra3" style="text-align: right" title="Sub total">1,201,452</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_982_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zZYEHOtow4Ec" style="text-align: right" title="Sub total">170,933</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left">Subtotal</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20241231_zoAQuYKfIkDd" style="text-align: right" title="Sub total">1,369,212</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_987_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20251231_zHZPbxkKmON6" style="text-align: right" title="Sub total">1,377,361</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20251231_zBqIQoD7sJpl" style="text-align: right" title="Sub total">195,960</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Less: accumulated depreciation</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98A_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_c20241231_zrjoEkZR8Nla" style="border-bottom: Black 1pt solid; text-align: right" title="Less: accumulated depreciation">(923,842</td> <td style="padding-bottom: 1pt; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98B_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_c20251231_zxHl1lzv9Naf" style="border-bottom: Black 1pt solid; text-align: right" title="Less: accumulated depreciation">(1,250,199</td> <td style="padding-bottom: 1pt; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_983_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_uUSD_c20251231_zdK0SV1h1SO7" style="border-bottom: Black 1pt solid; text-align: right" title="Less: accumulated depreciation">(177,868</td> <td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt">Total</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98B_eus-gaap--PropertyPlantAndEquipmentNet_pp0p0_c20241231_zlzPLArLdKF7" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">445,370</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_980_eus-gaap--PropertyPlantAndEquipmentNet_pp0p0_c20251231_zgLnXwiGE35e" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">127,162</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_982_eus-gaap--PropertyPlantAndEquipmentNet_iI_pp0p0_uUSD_c20251231_zDUSowDbcMSk" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">18,092</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 20448 20448 2909 147312 155461 22118 1201452 1201452 170933 1369212 1377361 195960 923842 1250199 177868 445370 127162 18092 331347 326357 46431 <p id="xdx_809_ecustom--LongTermInvestmentsTextBlock_zbk1qw7bHA43" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><b>Note 7 — <span id="xdx_82E_zuITkjukCREi">Long-term investments</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Long-term investments consist of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_88B_ecustom--ScheduleOfLongTermInvestmentsTableTextBlock_zRQnx1UELfa3" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Long-term investments (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8BF_zYaQKlWbk8Sh" style="display: none">Schedule of Long-term investments</span></td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">5.0% Investment in a company in mobile games industry</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_988_ecustom--EquityMethodInvestmentsSubTotal_iI_pp0p0_c20241231__us-gaap--InvestmentTypeAxis__custom--Investment1Member_zBnxcCHeMkCg" style="width: 9%; text-align: right" title="Cost method investments">600,000</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98D_ecustom--EquityMethodInvestmentsSubTotal_iI_pp0p0_c20251231__us-gaap--InvestmentTypeAxis__custom--Investment1Member_zHvHLZXl6X6" style="width: 9%; text-align: right" title="Cost method investments">600,000</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98A_ecustom--EquityMethodInvestmentsSubTotal_iI_pp0p0_uUSD_c20251231__us-gaap--InvestmentTypeAxis__custom--Investment1Member_zTjW1Hmx1Byc" style="width: 9%; text-align: right" title="Cost method investments">85,363</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; text-align: left">5.0% Investment in a company in central processing advertising algorithm services</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98F_ecustom--EquityMethodInvestmentsSubTotal_iI_pp0p0_c20241231__us-gaap--InvestmentTypeAxis__custom--Investment2Member_zsktuBKDYvxe" style="border-bottom: Black 1pt solid; text-align: right" title="Cost method investments">600,000</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_985_ecustom--EquityMethodInvestmentsSubTotal_iI_pp0p0_c20251231__us-gaap--InvestmentTypeAxis__custom--Investment2Member_zkdDfTO6ov29" style="border-bottom: Black 1pt solid; text-align: right" title="Cost method investments">600,000</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_983_ecustom--EquityMethodInvestmentsSubTotal_iI_pp0p0_uUSD_c20251231__us-gaap--InvestmentTypeAxis__custom--Investment2Member_z0gSrCHCFlK3" style="border-bottom: Black 1pt solid; text-align: right" title="Cost method investments">85,363</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in; text-align: left">Subtotal</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_982_ecustom--EquityMethodInvestmentsSubTotal_iI_pp0p0_c20241231_zUKLMbaZQNzh" style="border-bottom: Black 1pt solid; text-align: right" title="Subtotal">1,200,000</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98B_ecustom--EquityMethodInvestmentsSubTotal_iI_pp0p0_c20251231_zEJ6sjnj0Lu8" style="border-bottom: Black 1pt solid; text-align: right" title="Subtotal">1,200,000</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_986_ecustom--EquityMethodInvestmentsSubTotal_iI_pp0p0_uUSD_c20251231_zLlkK8YXhCG1" style="border-bottom: Black 1pt solid; text-align: right" title="Subtotal">170,726</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Less: Impairment loss</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_983_ecustom--ImpairmentLossOfInvestments_iI_pp0p0_c20241231_z6KxwnonbRRb" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Impairment loss">1,102,938</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_987_ecustom--ImpairmentLossOfInvestments_iI_pp0p0_c20251231_zYRbkCqHaAJ7" style="border-bottom: Black 1pt solid; text-align: right">1,103,089</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_980_ecustom--ImpairmentLossOfInvestments_iI_pp0p0_uUSD_c20251231_zwFP1ePaHaCk" style="border-bottom: Black 1pt solid; text-align: right">156,938</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; text-indent: -0.125in; padding-left: 0.25in; text-align: left">Total</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_986_eus-gaap--OtherInvestments_iI_pp0p0_c20241231_zL1LddCQeyHl" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">97,062</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98F_eus-gaap--OtherInvestments_iI_pp0p0_c20251231_zyfz0UhFFRC5" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">96,911</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_989_eus-gaap--OtherInvestments_iI_pp0p0_uUSD_c20251231_zncUS66AExXe" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">13,788</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">During the years ended December 31, 2024 and 2025, the Company’s long-term investments amounted to RMB <span id="xdx_90C_eus-gaap--LongTermInvestments_iI_pp0p0_c20241231_zdZ8laj0mFz4" title="Long-term investments">97,062</span> and RMB <span id="xdx_902_eus-gaap--LongTermInvestments_iI_pp0p0_c20251231_zGRlG4yErp6i" title="Long term investments">96,911</span> (USD <span id="xdx_903_eus-gaap--LongTermInvestments_iI_pp0p0_uUSD_c20251231_zx7p4vcqx0Sj" title="Long term investments">13,788</span>), respectively. The Company made impairment allowance of equity method investments with the amount of RMB <span id="xdx_901_ecustom--ImpairmentAllowance_iI_pp0p0_c20251231__us-gaap--InvestmentTypeAxis__custom--Investment1Member_zpirLWQtL8eg" title="Impairment allowance">534,181</span> (USD <span id="xdx_905_ecustom--ImpairmentAllowance_iI_pp0p0_uUSD_c20251231__us-gaap--InvestmentTypeAxis__custom--Investment1Member_zSjIT0QP2kK7">75,999</span>) for the company in mobile games industry and RMB <span id="xdx_908_ecustom--ImpairmentAllowance_iI_pp0p0_c20251231__us-gaap--InvestmentTypeAxis__custom--Investment2Member_zKx5qTiDeJCd">568,907</span> (USD <span id="xdx_90A_ecustom--ImpairmentAllowance_iI_pp0p0_uUSD_c20251231__us-gaap--InvestmentTypeAxis__custom--Investment2Member_z4BpXGstnVfj">80,939</span>) for the company in central processing.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_88B_ecustom--ScheduleOfLongTermInvestmentsTableTextBlock_zRQnx1UELfa3" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Long-term investments (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8BF_zYaQKlWbk8Sh" style="display: none">Schedule of Long-term investments</span></td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">5.0% Investment in a company in mobile games industry</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_988_ecustom--EquityMethodInvestmentsSubTotal_iI_pp0p0_c20241231__us-gaap--InvestmentTypeAxis__custom--Investment1Member_zBnxcCHeMkCg" style="width: 9%; text-align: right" title="Cost method investments">600,000</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98D_ecustom--EquityMethodInvestmentsSubTotal_iI_pp0p0_c20251231__us-gaap--InvestmentTypeAxis__custom--Investment1Member_zHvHLZXl6X6" style="width: 9%; text-align: right" title="Cost method investments">600,000</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98A_ecustom--EquityMethodInvestmentsSubTotal_iI_pp0p0_uUSD_c20251231__us-gaap--InvestmentTypeAxis__custom--Investment1Member_zTjW1Hmx1Byc" style="width: 9%; text-align: right" title="Cost method investments">85,363</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; text-align: left">5.0% Investment in a company in central processing advertising algorithm services</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98F_ecustom--EquityMethodInvestmentsSubTotal_iI_pp0p0_c20241231__us-gaap--InvestmentTypeAxis__custom--Investment2Member_zsktuBKDYvxe" style="border-bottom: Black 1pt solid; text-align: right" title="Cost method investments">600,000</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_985_ecustom--EquityMethodInvestmentsSubTotal_iI_pp0p0_c20251231__us-gaap--InvestmentTypeAxis__custom--Investment2Member_zkdDfTO6ov29" style="border-bottom: Black 1pt solid; text-align: right" title="Cost method investments">600,000</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_983_ecustom--EquityMethodInvestmentsSubTotal_iI_pp0p0_uUSD_c20251231__us-gaap--InvestmentTypeAxis__custom--Investment2Member_z0gSrCHCFlK3" style="border-bottom: Black 1pt solid; text-align: right" title="Cost method investments">85,363</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in; text-align: left">Subtotal</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_982_ecustom--EquityMethodInvestmentsSubTotal_iI_pp0p0_c20241231_zUKLMbaZQNzh" style="border-bottom: Black 1pt solid; text-align: right" title="Subtotal">1,200,000</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98B_ecustom--EquityMethodInvestmentsSubTotal_iI_pp0p0_c20251231_zEJ6sjnj0Lu8" style="border-bottom: Black 1pt solid; text-align: right" title="Subtotal">1,200,000</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_986_ecustom--EquityMethodInvestmentsSubTotal_iI_pp0p0_uUSD_c20251231_zLlkK8YXhCG1" style="border-bottom: Black 1pt solid; text-align: right" title="Subtotal">170,726</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Less: Impairment loss</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_983_ecustom--ImpairmentLossOfInvestments_iI_pp0p0_c20241231_z6KxwnonbRRb" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Impairment loss">1,102,938</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_987_ecustom--ImpairmentLossOfInvestments_iI_pp0p0_c20251231_zYRbkCqHaAJ7" style="border-bottom: Black 1pt solid; text-align: right">1,103,089</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_980_ecustom--ImpairmentLossOfInvestments_iI_pp0p0_uUSD_c20251231_zwFP1ePaHaCk" style="border-bottom: Black 1pt solid; text-align: right">156,938</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; text-indent: -0.125in; padding-left: 0.25in; text-align: left">Total</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_986_eus-gaap--OtherInvestments_iI_pp0p0_c20241231_zL1LddCQeyHl" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">97,062</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98F_eus-gaap--OtherInvestments_iI_pp0p0_c20251231_zyfz0UhFFRC5" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">96,911</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_989_eus-gaap--OtherInvestments_iI_pp0p0_uUSD_c20251231_zncUS66AExXe" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">13,788</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 600000 600000 85363 600000 600000 85363 1200000 1200000 170726 1102938 1103089 156938 97062 96911 13788 97062 96911 13788 534181 75999 568907 80939 <p id="xdx_802_eus-gaap--AccountsPayableAccruedLiabilitiesAndOtherLiabilitiesDisclosureCurrentTextBlock_zIqqkMgKrKgl" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><b>Note 8 — <span id="xdx_82A_zKqiXjIpegnh">Other payables and accrued liabilities</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Other payables and accrued liabilities include the followings:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> </p> <table cellpadding="0" cellspacing="0" id="xdx_888_eus-gaap--ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_zavy7XqaXKVi" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Other payables and accrued liabilities (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8B7_z5stGsCeSF6b" style="display: none">Schedule of Other payables and accrued liabilities</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_498_20241231_zI5moVWiKAZ" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20251231_zsB8ve1ka1Y1" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/> 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/> 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/> 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--AccruedPayrollTaxesCurrent_iI_zUw5urmzH0jb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left; padding-bottom: 1pt">Payroll payable</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">814,397</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">728,845</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--AccruedPayrollTaxesCurrent_iI_uUSD_c20251231_zCcnb8KsNMQ1" style="width: 9%; text-align: right" title="Payroll payable">103,694</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AccountsPayableOtherCurrent_iI_zrmBhuhTtDch" style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Accounts payable with third parties</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">13,315,590</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">30,729,920</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--AccountsPayableOtherCurrent_iI_uUSD_c20251231_zBszovnndfE1" style="border-bottom: Black 1pt solid; text-align: right" title="Accounts payable with third parties">4,372,002</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AccountsPayableAndOtherAccruedLiabilities_iI_zhDN6RpH1N0l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.25in; padding-bottom: 2.5pt; vertical-align: top">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">14,129,987</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">31,458,765</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98B_eus-gaap--AccountsPayableAndOtherAccruedLiabilities_iI_uUSD_c20251231_z0xFpLh4nYm4" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">4,475,696</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">During the years ended December 31, 2024 and 2025, the Company’s other payables and accrued liabilities amounted to RMB <span id="xdx_903_eus-gaap--OtherAccountsPayableAndAccruedLiabilities_iI_c20241231_zPHPSlYTlyBf" title="Other payables and accrued liabilities">14,129,987</span> and RMB <span id="xdx_90D_eus-gaap--OtherAccountsPayableAndAccruedLiabilities_iI_c20251231_zrm9GxQ0GXd2" title="Other payables and accrued liabilities">31,458,765</span> (USD <span id="xdx_90C_eus-gaap--OtherAccountsPayableAndAccruedLiabilities_iI_uUSD_c20251231_z0NQXkhZjaDa" title="Other payables and accrued liabilities">4,475,696</span>), respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> </p> <table cellpadding="0" cellspacing="0" id="xdx_888_eus-gaap--ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_zavy7XqaXKVi" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Other payables and accrued liabilities (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8B7_z5stGsCeSF6b" style="display: none">Schedule of Other payables and accrued liabilities</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_498_20241231_zI5moVWiKAZ" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20251231_zsB8ve1ka1Y1" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/> 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/> 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/> 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--AccruedPayrollTaxesCurrent_iI_zUw5urmzH0jb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left; padding-bottom: 1pt">Payroll payable</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">814,397</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">728,845</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--AccruedPayrollTaxesCurrent_iI_uUSD_c20251231_zCcnb8KsNMQ1" style="width: 9%; text-align: right" title="Payroll payable">103,694</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AccountsPayableOtherCurrent_iI_zrmBhuhTtDch" style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Accounts payable with third parties</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">13,315,590</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">30,729,920</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--AccountsPayableOtherCurrent_iI_uUSD_c20251231_zBszovnndfE1" style="border-bottom: Black 1pt solid; text-align: right" title="Accounts payable with third parties">4,372,002</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AccountsPayableAndOtherAccruedLiabilities_iI_zhDN6RpH1N0l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.25in; padding-bottom: 2.5pt; vertical-align: top">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">14,129,987</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">31,458,765</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98B_eus-gaap--AccountsPayableAndOtherAccruedLiabilities_iI_uUSD_c20251231_z0xFpLh4nYm4" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">4,475,696</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 814397 728845 103694 13315590 30729920 4372002 14129987 31458765 4475696 14129987 31458765 4475696 <p id="xdx_801_ecustom--BankingBorrowingsDisclosureTextBlock_z7651vU0TZ5f" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><b>Note 9 — <span id="xdx_826_z3GpV1C22YLh">Banking borrowings</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Banking borrowings include the followings:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> </p> <table cellpadding="0" cellspacing="0" id="xdx_886_ecustom--BankingBorrowingsTableTextBlock_zVHUj72tqSBb" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Banking borrowings (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.25in; vertical-align: top"><span id="xdx_8B7_zfnZgf84iFge" style="display: none">Schedule of Banking borrowings</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_49A_20241231_zcqbpaHSOuv3" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20251231_zmkZt4wNqmy4" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/> 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/> 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_ecustom--BankingBorrowingsShortTerm_iI_z1IPlNlmPfs5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left; padding-bottom: 1pt">Banking borrowings-short-term</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 9%; text-align: right">15,000,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 9%; text-align: right">30,000,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_985_ecustom--BankingBorrowingsShortTerm_iI_uUSD_c20251231_zJgwyEW4SHnc" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Banking borrowings-short-term">4,268,154</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--BankingBorrowings_iI_z6nw4DRnUu0b" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.25in; padding-bottom: 2.5pt; vertical-align: top">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">15,000,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">30,000,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_986_ecustom--BankingBorrowings_iI_uUSD_c20251231_zueP6xxNT12l" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">4,268,154</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The total outstanding banking borrowings were RMB <span id="xdx_907_ecustom--BankingBorrowingsOutstanding_iI_pn3n3_dm_c20241231_zEuMtafkrPCg" title="Banking borrowings outstanding">15</span>.0 million and RMB <span id="xdx_900_ecustom--BankingBorrowingsOutstanding_iI_pn3n3_dm_c20251231_ze221c5l7Fmf" title="Banking borrowings outstanding">30</span>.0 million (USD <span id="xdx_90C_ecustom--BankingBorrowingsOutstanding_iI_pn3n3_dm_uUSD_c20251231_zaQeVdFqEo0l" title="Banking borrowings outstanding">4.3</span> million) as of December 31, 2024 and 2025. All bank borrowings are secured and are working capital loans under revolving credit facilities, each with a maturity term not exceeding 12 months, for daily operational needs. The loans bear interest at floating rates. All loans will be paid off before July 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_886_ecustom--BankingBorrowingsTableTextBlock_zVHUj72tqSBb" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Banking borrowings (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.25in; vertical-align: top"><span id="xdx_8B7_zfnZgf84iFge" style="display: none">Schedule of Banking borrowings</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_49A_20241231_zcqbpaHSOuv3" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20251231_zmkZt4wNqmy4" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/> 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/> 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_ecustom--BankingBorrowingsShortTerm_iI_z1IPlNlmPfs5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left; padding-bottom: 1pt">Banking borrowings-short-term</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 9%; text-align: right">15,000,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 9%; text-align: right">30,000,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_985_ecustom--BankingBorrowingsShortTerm_iI_uUSD_c20251231_zJgwyEW4SHnc" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Banking borrowings-short-term">4,268,154</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--BankingBorrowings_iI_z6nw4DRnUu0b" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.25in; padding-bottom: 2.5pt; vertical-align: top">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">15,000,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">30,000,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_986_ecustom--BankingBorrowings_iI_uUSD_c20251231_zueP6xxNT12l" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">4,268,154</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 15000000 30000000 4268154 15000000 30000000 4268154 15000000 30000000 4300000 <p id="xdx_808_ecustom--ConvertibleNotesPayableTextBlock_z1Mthx1nRxdc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><b>Note 10 — <span id="xdx_824_zFnzCIkjtRYi">Convertible notes payable</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Convertible notes payable includes the followings:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_89D_eus-gaap--ConvertibleDebtTableTextBlock_z6ORiIj8Fa0k" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Convertible notes payable (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><span id="xdx_8B1_zS6kkK12csjd" style="display: none">Schedule of Convertible notes payable</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 64%; padding-bottom: 1pt; text-align: left"><span style="font-size: 10pt">Investors</span></td> <td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td> <td id="xdx_98F_eus-gaap--ConvertibleNotesPayable_iI_pp0p0_c20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_zGRu8hLdV4ah" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Convertible notes payable">149,090,866</td> <td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td> <td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td> <td id="xdx_985_eus-gaap--ConvertibleNotesPayable_iI_pp0p0_c20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_zg8s66gNyDBb" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Convertible notes payable"><span style="-sec-ix-hidden: xdx2ixbrl1687">-</span></td> <td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td> <td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td> <td id="xdx_984_eus-gaap--ConvertibleNotesPayable_iI_pp0p0_uUSD_c20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_zHmOZDU2WZ4g" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Convertible notes payable"><span style="-sec-ix-hidden: xdx2ixbrl1689">-</span></td> <td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.25in; padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt">Total</span></td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_986_eus-gaap--ConvertibleNotesPayable_iI_pp0p0_d0_c20241231_zcVcTUsZs6S9" style="border-bottom: Black 2.5pt double; text-align: right" title="Convertible notes payable">149,090,866</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_987_eus-gaap--ConvertibleNotesPayable_iI_pp0p0_d0_c20251231_zhIVFwAYA3Nk" style="border-bottom: Black 2.5pt double; text-align: right" title="Convertible notes payable">-</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_981_eus-gaap--ConvertibleNotesPayable_iI_pp0p0_uUSD_c20251231_zybP3iq4umPl" style="border-bottom: Black 2.5pt double; text-align: right" title="Convertible notes payable"><span style="-sec-ix-hidden: xdx2ixbrl1695">-</span></td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AC_zZBTE87AGvdl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">During the year ended December 31, 2025, the Company entered into convertible note purchase agreements with investors, pursuant to which the Company will issue to each investor an unsecured convertible promissory note. Each note has a term of 360 days and bears an interest at 0% per annum. If an event of default on the note occurs, interest shall accrue on the outstanding balance at the rate equal to the lesser of 10% per annum or the maximum rate permitted under applicable law until paid. Each Investors has the right at any time after the purchase amount has been paid in full, at its election, to convert all or a portion of the outstanding balance under each of the note into ordinary shares of the Company of par value USD 0.00000001¹.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 20pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">As of December 31, 2024 and 2025, there were RMB <span id="xdx_905_eus-gaap--ConvertibleNotesPayable_iI_pp0p0_c20241231_zocLueFRNq7i" title="Convertible notes payable">149,090,866</span> and nil convertible notes payable outstanding, respectively. In the year ended at December 31, 2024, the cash received from convertible notes payable issued by Company was RMB <span id="xdx_902_ecustom--ConvertiblePayableIssued_c20250101__20251231_zinVQbj1UoTj" title="Convertible payable issued">701,803,492</span>. The total amount of convertible notes payable converted to shares was RMB <span id="xdx_90C_ecustom--ConvertedToShares_c20250101__20251231_ziuBQSY1kqYf" title="Converted to shares">552,712,626</span>. The balance of the convertible notes payable was RMB <span id="xdx_901_eus-gaap--ConvertibleNotesPayable_iI_pp0p0_c20241231_zMJDElqWUu0a">149,090,866</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 20pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The issuance of convertible notes payable in the year ended at December 31, 2024 and 2025 are as followings:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">On February 27, 2024, the Company entered into various Convertible Note Purchase Agreements (“Purchase Agreements”) with certain investors (the “Investors”). On February 28, 2024, the Company issued to each Investor an Unsecured Convertible Promissory Note (the “Notes”) pursuant to the relevant Purchase Agreements. The aggregate original principal amount of the Notes is USD <span id="xdx_90A_ecustom--AggregatePrincipalAmount_iI_c20240227_ziXPCIbTAC31" title="Aggregate principal amount">11,000,000</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">On June 5, 2024, the Company entered into Convertible Note Purchase Agreements with certain investors. On June 6, 2024, the Company issued to each Investor an Unsecured Convertible Promissory Note pursuant to the relevant Purchase Agreements. The aggregate original principal amount of the Notes is USD <span id="xdx_902_ecustom--AggregatePrincipalAmount_iI_c20240605_z1FM7OM8oGV6" title="Aggregate principal amount">30,000,000</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">On August 1, 2024, the Company entered into Convertible Note Purchase Agreements with certain investors. On August 2, 2024, the Company issued to each Investor an Unsecured Convertible Promissory Note pursuant to the relevant Purchase Agreements. The aggregate original principal amount of the Notes is USD <span id="xdx_90A_ecustom--AggregatePrincipalAmount_iI_c20240801_zBH0fyqd2zja" title="Aggregate principal amount">30,000,000</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">On October 7, 2024, the Company entered into Convertible Note Purchase Agreements with certain investors. On October 8, 2024, the Company issued to each Investor an Unsecured Convertible Promissory Note pursuant to the relevant Purchase Agreements. The aggregate original principal amount of the Notes is USD <span id="xdx_906_ecustom--AggregatePrincipalAmount_iI_c20241007_zkoprXv63r7e" title="Aggregate principal amount">20,000,000</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in"><span id="xdx_908_ecustom--ConvertibleNotePurchaseAgreementDiscription_c20241001__20241011_zPO2ZXFbyj8b" title="Convertible note purchase agreement">On October 11, 2024, the Company entered into a Convertible Note Purchase Agreement (the “Note Purchase Agreement”) with WiMi Hologram Cloud Inc., a Cayman Islands company (“WiMi”) in connection with the issuance and sale of unsecured convertible notes in the aggregate principal amount of up to $25,000,000 and at an aggregate purchase price of up to $23,000,000 in a transaction exempt from registration under the Securities Act of 1933, as amended. On October 14, 2024, the Company issued to WiMi a convertible note in the principal amount of USD 5,000,000 (the “Convertible Note”). In December, 2024, the Company issued to WiMi a convertible note in the principal amount of USD 10,000,000. In March 2025, the Company issued to WiMi a convertible note in the principal amount of USD 10,000,000.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <div style="width: 25%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td> <td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">¹</span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>Number of shares has been retrospectively adjusted for the share consolidation (10 to 1, 20 to 1, and 30 to 1) effective March 22, 2024, December 13, 2024 and July 16, 2025.</i></span></td> </tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">On May 6, 2025, the Company entered into Convertible Note Purchase Agreements with certain investors, relating to our issuance of an aggregate of $<span id="xdx_907_ecustom--AggregateAmount_iI_c20250506_zjY7mFhWcPdd" title="Aggregate amount">36,000,000</span> Convertible Promissory Notes due after 360 days of issuance and our ordinary shares that are issuable upon conversion of the Convertible Note.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">On May 16, 2025, the Company entered into Convertible Note Purchase Agreements with certain investors, relating to our issuance of an aggregate of $<span id="xdx_908_ecustom--AggregateAmount_iI_c20250516_zMCelrEthcc1" title="Aggregate amount">80,000,000</span> Convertible Promissory Notes due after 360 days of issuance and our ordinary shares that are issuable upon conversion of the Convertible Note.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">On June 20, 2025, MicroAlgo Inc. (the “Company”) entered into a Convertible Note Purchase Agreement (the “Purchase Agreement”) with its parent company, WiMi Hologram Cloud Inc. (the “Purchaser”). Pursuant to the Purchase Agreement, the Company issued an Unsecured Convertible Promissory Note (the “Note”) to the Purchaser in the principal amount of $<span id="xdx_90A_ecustom--AggregateAmount_iI_c20250620_zm5bcSe1JYla" title="Aggregate amount">35,000,000</span> for a purchase price of $<span id="xdx_902_ecustom--PurchasePrice_iI_c20250620_zHvwWgwLojo2" title="Purchase price">32,200,000</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">As of December 31, 2025, all the convertible note mentioned above has been converted into shares. The coupon rate and effective interest rate were <span id="xdx_907_ecustom--CouponRate_iI_dp_c20251231_zQ3PaxObrhIl" title="Coupon rate">0.0</span>% and <span id="xdx_90A_ecustom--InterestRate_iI_dp_c20251231_zTYJZxkkakQh" title="Interest rate">8.7</span>%, respectively, with the maturity of 360 days. During the year ended December 31, 2025, the Company confirmed finance cost-discount on conversion of convertible notes payable with the amount of $<span id="xdx_902_ecustom--ConvertibleNotePayableAmount_c20250101__20251231_z4ZpxOHvKyni" title="Convertible note payable amount">391,052</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Please see “Note-11 Related party transactions and balances” for details with WiMi Hologram Cloud Inc.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <table cellpadding="0" cellspacing="0" id="xdx_89D_eus-gaap--ConvertibleDebtTableTextBlock_z6ORiIj8Fa0k" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Convertible notes payable (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><span id="xdx_8B1_zS6kkK12csjd" style="display: none">Schedule of Convertible notes payable</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 64%; padding-bottom: 1pt; text-align: left"><span style="font-size: 10pt">Investors</span></td> <td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td> <td id="xdx_98F_eus-gaap--ConvertibleNotesPayable_iI_pp0p0_c20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_zGRu8hLdV4ah" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Convertible notes payable">149,090,866</td> <td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td> <td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td> <td id="xdx_985_eus-gaap--ConvertibleNotesPayable_iI_pp0p0_c20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_zg8s66gNyDBb" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Convertible notes payable"><span style="-sec-ix-hidden: xdx2ixbrl1687">-</span></td> <td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td> <td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td> <td id="xdx_984_eus-gaap--ConvertibleNotesPayable_iI_pp0p0_uUSD_c20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_zHmOZDU2WZ4g" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Convertible notes payable"><span style="-sec-ix-hidden: xdx2ixbrl1689">-</span></td> <td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.25in; padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt">Total</span></td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_986_eus-gaap--ConvertibleNotesPayable_iI_pp0p0_d0_c20241231_zcVcTUsZs6S9" style="border-bottom: Black 2.5pt double; text-align: right" title="Convertible notes payable">149,090,866</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_987_eus-gaap--ConvertibleNotesPayable_iI_pp0p0_d0_c20251231_zhIVFwAYA3Nk" style="border-bottom: Black 2.5pt double; text-align: right" title="Convertible notes payable">-</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_981_eus-gaap--ConvertibleNotesPayable_iI_pp0p0_uUSD_c20251231_zybP3iq4umPl" style="border-bottom: Black 2.5pt double; text-align: right" title="Convertible notes payable"><span style="-sec-ix-hidden: xdx2ixbrl1695">-</span></td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 149090866 149090866 -0 149090866 701803492 552712626 149090866 11000000 30000000 30000000 20000000 On October 11, 2024, the Company entered into a Convertible Note Purchase Agreement (the “Note Purchase Agreement”) with WiMi Hologram Cloud Inc., a Cayman Islands company (“WiMi”) in connection with the issuance and sale of unsecured convertible notes in the aggregate principal amount of up to $25,000,000 and at an aggregate purchase price of up to $23,000,000 in a transaction exempt from registration under the Securities Act of 1933, as amended. On October 14, 2024, the Company issued to WiMi a convertible note in the principal amount of USD 5,000,000 (the “Convertible Note”). In December, 2024, the Company issued to WiMi a convertible note in the principal amount of USD 10,000,000. In March 2025, the Company issued to WiMi a convertible note in the principal amount of USD 10,000,000. 36000000 80000000 35000000 32200000 0.000 0.087 391052 <p id="xdx_80D_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_zXotX2dldYnh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><b>Note 11 — <span id="xdx_82D_zXqBE5dpiHQj">Related party transactions and balances</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Amounts due to Parent Company (WiMi Hologram Cloud Inc.) are those nontrade payables arising from transactions between the Company and the Parent Company, such as advances made by the Parent Company on behalf of the Company, and allocated shared expenses paid by the Parent Company. Those balances are unsecured and non-interest bearing and are payable on demand.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">During years ended December 31, 2024 and 2025 the Company obtained approximately nil and nil from Parent Company and repaid RMB <span id="xdx_90E_eus-gaap--RepaymentsOfRelatedPartyDebt_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--ParentMember_zWBQLYDiWoQd">17,379,014</span> and RMB nil to Parent Company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">During years ended December 31, 2025, Parent Company purchased convertible note issued by the Company with the amount of $<span id="xdx_90D_eus-gaap--ConvertibleDebt_iI_c20251231_zpa4VqFuLtQ8" title="Convertible note issued">45,000,000</span> for a purchase price of $<span id="xdx_908_ecustom--PurchasePrice_iI_c20251231_zPjzJ0g54sm" title="Purchase price">41,400,000</span>. As of December 31, 2025, all the convertible note has been converted into shares.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> 17379014 45000000 41400000 <p id="xdx_801_eus-gaap--IncomeTaxDisclosureTextBlock_zzIvAa5X3YM7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><b>Note 12 — <span id="xdx_821_zoMSbeIhsswe">Taxes</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><i><span style="text-decoration: underline">Income tax</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><i>Cayman Islands</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Under the current laws of the Cayman Islands, MicroAlgo and VIYI Inc are not subject to tax on income or capital gain. Additionally, upon payments of dividends to the shareholders, no Cayman Islands withholding tax will be imposed.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><i>Hong Kong</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">VIYI Ltd and Viwo Tech are incorporated in Hong Kong and are subject to Hong Kong Profits Tax on the taxable income as reported in its statutory financial statements adjusted in accordance with relevant Hong Kong tax laws. The applicable tax rate is <span id="xdx_90B_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_c20250101__20251231__srt--StatementGeographicalAxis__country--HK_zcJo3w4rx117" title="Tax rate">16.5%</span> in Hong Kong. The Company made provisions for Hong Kong profit tax according to assessable profits derived from or earned in Hong Kong since inception. Under Hong Kong tax law, VIYI Ltd and Viwo Tech are exempted from income tax on its foreign-derived income and there are no withholding taxes in Hong Kong on remittance of dividends.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><i>Singapore</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in"><span id="xdx_905_ecustom--IncomeTaxDescription_c20250101__20251231__srt--StatementGeographicalAxis__country--SG_zqdSn9Cy20Rj" title="Income tax, description">Fe-da Electronics was incorporated in Singapore and was subject to Singapore Profits Tax on the taxable income as reported in its statutory financial statements adjusted in accordance with relevant Singapore tax laws before the financial year 2024. The applicable tax rate is 17% in Singapore, with 75% of the first SGD 10,000 taxable income and 50% of the next SGD 190,000 taxable income is exempted from income tax.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><i>PRC</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The subsidiaries and VIE incorporated in the PRC are governed by the income tax laws of the PRC and the income tax provision in respect to operations in the PRC is calculated at the applicable tax rates on the taxable income for the periods based on existing legislation, interpretations and practices in respect thereof. Under the Enterprise Income Tax Laws of the PRC (the “EIT Laws”), domestic enterprises and Foreign Investment Enterprises (the “FIE”) are usually subject to a unified 25% enterprise income tax rate while preferential tax rates, tax holidays and even tax exemption may be granted on case-by-case basis. EIT grants preferential tax treatment to certain High and New Technology Enterprises (“HNTEs”). Under this preferential tax treatment, HNTEs are entitled to an income tax rate of 15%, subject to a requirement that they re-apply for HNTE status every three years. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Significant components of the provision for income taxes are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_zuhRGUuJivzk" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Taxes (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt"><span id="xdx_8BC_zixGwR7bzOq4" style="display: none">Schedule of components of the provision for income taxes</span></td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td id="xdx_49E_20230101__20231231_z3qHPtWSot71" style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td id="xdx_494_20240101__20241231_zJ4qVFBWVhTh" style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td id="xdx_497_20250101__20251231_zts3Bgs7yNrb" style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the<br/> year ended <br/>December 31, <br/>2023</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the<br/> year ended <br/>December 31, <br/>2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the<br/> year ended <br/>December 31, <br/>2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the<br/> year ended <br/>December 31, <br/>2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--CurrentIncomeTaxExpenseBenefit_iN_pp0p0_di_zfEV5ib7JZI4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 52%; text-align: left">Current income tax expenses</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right">(166,476</td> <td style="width: 1%; text-align: left">)</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right">(5,590,543</td> <td style="width: 1%; text-align: left">)</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right">(7,334,225</td> <td style="width: 1%; text-align: left">)</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98A_eus-gaap--CurrentIncomeTaxExpenseBenefit_iN_pp0p0_di_uUSD_c20250101__20251231_zVd02hOEFU21" style="width: 9%; text-align: right" title="Current income tax expenses">(1,043,453</td> <td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--DeferredIncomeTaxExpenseBenefit_iN_di_zDIVJ9RROGk1" style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Deferred income tax benefits/(provision) </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">2,666,910</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">(547,502</td> <td style="padding-bottom: 1pt; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">2,740</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98C_eus-gaap--DeferredIncomeTaxExpenseBenefit_iN_pp0p0_di_uUSD_c20250101__20251231_z17epwjqanFj" style="border-bottom: Black 1pt solid; text-align: right" title="Deferred income tax benefits/(provision)">390</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--IncomeTaxExpenseBenefit_iN_pp0p0_di_zzdJGVFHdMg6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt">Income tax credit/(expenses)</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">2,500,434</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">(6,138,045</td> <td style="padding-bottom: 2.5pt; text-align: left">)</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">(7,331,485</td> <td style="padding-bottom: 2.5pt; text-align: left">)</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98A_eus-gaap--IncomeTaxExpenseBenefit_iN_pp0p0_di_uUSD_c20250101__20251231_zMaGE0yTeEal" style="border-bottom: Black 2.5pt double; text-align: right" title="Income tax credit/(expenses)">(1,043,063</td> <td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <p id="xdx_8A1_zBqK58LT4LEi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The following table reconciles China statutory rates to the Company’s effective tax rate:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zOGIGxndSDo4" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Taxes (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8B8_zIeMXW17Mz05" style="display: none">Schedule of effective income tax rate reconciliation</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the<br/> year ended <br/>December 31, <br/>2023</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the<br/> year ended <br/>December 31, <br/>2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>For the<br/> year ended<br/> December 31,<br/> 2025</b></td> <td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">China statutory income tax rate</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right"><span id="xdx_904_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_dp_c20230101__20231231_z8FBaOHxfAtd" title="China statutory income tax rate">25.00</span></td> <td style="width: 1%; text-align: left">%</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right"><span id="xdx_903_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_dp_c20240101__20241231_zyv03XoDU109" title="China statutory income tax rate">25.00</span></td> <td style="width: 1%; text-align: left">%</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="text-align: right; width: 9%"><span id="xdx_906_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_dp_c20250101__20251231_zAR8u0HygDjc" title="China statutory income tax rate">25.00</span></td> <td style="width: 1%">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Preferential tax rate in China</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_905_eus-gaap--EffectiveIncomeTaxRateReconciliationDeductions_iN_dpi_c20230101__20231231_z5r75nydDFHi" title="Preferential tax rate in China">(20.00</span></td> <td style="text-align: left">)%</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90A_eus-gaap--EffectiveIncomeTaxRateReconciliationDeductions_iN_dpi_c20240101__20241231_zOHgzgOG1RSg" title="Preferential tax rate in China">(20.00</span></td> <td style="text-align: left">)%</td> <td> </td> <td> </td> <td style="text-align: right"><span id="xdx_90D_eus-gaap--EffectiveIncomeTaxRateReconciliationDeductions_iN_dpi_c20250101__20251231_zEDtGydcbVse" title="Preferential tax rate in China">(20.00</span></td> <td>)%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Tax rate difference outside China⁽¹⁾</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90C_ecustom--EffectiveIncomeTaxRateReconciliationTaxRateDifferenceOutsideChina1_dp_c20230101__20231231_fKDEp_z2UXBdkRl6t1" title="Tax rate difference outside China">(16.75</span></td> <td style="text-align: left">)%</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_902_ecustom--EffectiveIncomeTaxRateReconciliationTaxRateDifferenceOutsideChina1_dp_c20240101__20241231_fKDEp_zKT48oRRVEM" title="Tax rate difference outside China">(9.04</span></td> <td style="text-align: left">)%</td> <td> </td> <td> </td> <td style="text-align: right"><span id="xdx_90A_ecustom--EffectiveIncomeTaxRateReconciliationTaxRateDifferenceOutsideChina1_dp_c20250101__20251231_fKDEp_zmsCTBGaGLSf" title="Tax rate difference outside China">(11.10</span></td> <td>)%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Change in valuation allowance</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_906_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_dp_c20230101__20231231_zLfBR3Szb5I9" title="Change in valuation allowance">(5.00</span></td> <td style="text-align: left">)%</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90C_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_dp_c20240101__20241231_zrEwkEmLC1ua" title="Change in valuation allowance">(9.35</span></td> <td style="text-align: left">)%</td> <td> </td> <td> </td> <td style="text-align: right"><span id="xdx_907_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_dp_c20250101__20251231_zDUa2joJg6Wf" title="Change in valuation allowance">(7.53</span></td> <td>)%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Additional R&amp;D deduction in China</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_909_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseResearchAndDevelopment_dp_c20230101__20231231_zfLlgjQuRexb" title="Additional R&amp;D deduction in China">0.00</span></td> <td style="text-align: left">%</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_902_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseResearchAndDevelopment_dp_c20240101__20241231_zI0TIGlujMei" title="Additional R&amp;D deduction in China">0.00</span></td> <td style="text-align: left">%</td> <td> </td> <td> </td> <td style="text-align: right"><span id="xdx_90C_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseResearchAndDevelopment_dp_c20250101__20251231_zwNIQjTYgwD7" title="Additional R&amp;D deduction in China">0.00</span></td> <td>%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Permanent difference</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90C_ecustom--EffectiveIncomeTaxRateReconciliationPermanentDifference_dp_c20230101__20231231_zoCtzb3wQO11" title="Permanent difference">17.68</span></td> <td style="padding-bottom: 1pt; text-align: left">%</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_900_ecustom--EffectiveIncomeTaxRateReconciliationPermanentDifference_dp_c20240101__20241231_z106u0f8h6D9" title="Permanent difference">23.88</span></td> <td style="padding-bottom: 1pt; text-align: left">%</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_904_ecustom--EffectiveIncomeTaxRateReconciliationPermanentDifference_dp_c20250101__20251231_zouzZsH7Dqxe" title="Permanent difference">19.07</span></td> <td style="padding-bottom: 1pt">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt">Effective tax rate</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_904_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_c20230101__20231231_zbo4iMdZJGm7" title="Effective tax rate">(0.93</span></td> <td style="padding-bottom: 2.5pt; text-align: left">)%</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90F_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_c20240101__20241231_zm6p7xQl61Wf" title="Effective tax rate">10.49</span></td> <td style="padding-bottom: 2.5pt; text-align: left">%</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_902_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_c20250101__20251231_zcMLRvZAOmv5" title="Effective tax rate">5.44</span></td> <td style="padding-bottom: 2.5pt">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <div style="width: 25%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0in"></td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in"><sup id="xdx_F0F_zbAd97OXi7Qg">(1)</sup></td> <td id="xdx_F16_z9v0n2rU1k9e" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> It is mainly due to the lower tax rate of the entities incorporated in Hong Kong, Singapore, and tax exempt in Cayman Islands.</td> </tr> </table> <p id="xdx_8A5_z3WFe7kKxPrg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><i><span style="text-decoration: underline">Deferred tax assets and liabilities</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Significant components of deferred tax assets and liabilities were as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_zBsEuLJ8rEr6" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Taxes (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8BF_zq4JmYpqLTp3" style="display: none">Schedule of deferred tax assets and liabilities</span></td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_492_20241231_za6R7yFWMeC6" style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_490_20251231_z4uA35NHHu6a" style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/>2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/>2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/>2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsNetAbstract_iB" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Deferred tax assets:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">Net operating loss carryforwards</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1815">-</span></td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1816">-</span></td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98B_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pp0p0_uUSD_c20251231_zzROjW7hby59" style="width: 9%; text-align: right" title="Net operating loss carryforwards"><span style="-sec-ix-hidden: xdx2ixbrl1818">-</span></td> <td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Allowance for credit losses</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">440,346</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">443,086</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_986_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts_iI_pp0p0_uUSD_c20251231_ziSB30FmTgh5" style="border-bottom: Black 1pt solid; text-align: right" title="Allowance for credit losses">63,039</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pp0p0_di_zeHPNPBsnIZk" style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Less: valuation allowance</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1825">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1826">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98E_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pp0p0_di_uUSD_c20251231_z2nRP4Vesayh" style="border-bottom: Black 1pt solid; text-align: right" title="Less: valuation allowance"><span style="-sec-ix-hidden: xdx2ixbrl1828">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsNet_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Deferred tax assets, net</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">440,346</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">443,086</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_987_eus-gaap--DeferredTaxAssetsNet_iI_pp0p0_uUSD_c20251231_zetRF8cBynv" style="text-align: right" title="Deferred tax assets, net">63,039</td> <td style="text-align: left"> </td></tr> </table> <p id="xdx_8AA_za68oCDEJqo" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company evaluated the recoverable amounts of deferred tax assets, and provided a valuation allowance to the extent that future taxable profits will be available against which the net operating loss and temporary difference can be utilized. The Company considers both positive and negative factors when assessing the future realization of the deferred tax assets and applied weigh to the relative impact of the evidences to the extent it could be objectively verified.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline">Uncertain tax positions</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company evaluates each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measure the unrecognized benefits associated with the tax positions. As of December 31, 2024 and 2025, the Company did <span id="xdx_90D_eus-gaap--LiabilityForUncertainTaxPositionsCurrent_iI_do_c20251231_zUWsM80tmq3f" title="Unrecognized uncertain tax positions"><span id="xdx_909_eus-gaap--LiabilityForUncertainTaxPositionsCurrent_iI_do_c20241231_zv0bAo38HXx6" title="Unrecognized uncertain tax positions">no</span></span>t have any significant unrecognized uncertain tax positions. The Company did <span id="xdx_905_eus-gaap--IncomeTaxExaminationPenaltiesAndInterestExpense_do_c20250101__20251231_zsUBYhLgzEy4" title="Interest and penalties"><span id="xdx_90C_eus-gaap--IncomeTaxExaminationPenaltiesAndInterestExpense_do_c20240101__20241231_zRQTrTF8ipwk" title="Interest and penalties">no</span></span>t incur any interest and penalties related to potential underpaid income tax expenses for the years ended December 31, 2024 and 2025 and also does not anticipate any significant increases or decreases in unrecognized tax benefits in the next 12 months from December 31, 2025.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline">Value added taxes (“VAT”) and goods and services taxes (“GST”)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Revenue represents the invoiced value of service, net of VAT or GST. The VAT and GST are based on gross sales price and VAT rates range up to <span id="xdx_904_ecustom--VatRate_dp_c20250101__20251231__srt--StatementGeographicalAxis__country--CN_zXKiHWbfIimk" title="VAT rate">13%</span> in China, depending on the type of service provided or product sold, and GST rate is generally <span id="xdx_906_ecustom--VatRate_dp_c20250101__20251231__srt--StatementGeographicalAxis__country--SG_zBuliQ99Ro0a" title="VAT rate">9%</span> in Singapore.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Taxes payable consisted of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_890_ecustom--ScheduleOfTaxPayableTableTextBlock_zxjBQODJAbh3" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Taxes (Details 3)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8BD_zc6RvnxOrctc" style="display: none">Schedule of taxes payable</span></td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_496_20241231_zmb3Qrr458Lh" style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_494_20251231_zcToYIDQXRDk" style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/>2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/>2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/>2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_ecustom--VatTaxesPayable_iI_pp0p0_maTPCANzYHL_zNYWwSdm2GNh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">VAT taxes payable</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right">538,657</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right">439,126</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_983_ecustom--VatTaxesPayable_iI_pp0p0_uUSD_c20251231_zjG0JWSpFqA8" style="width: 9%; text-align: right" title="VAT taxes payable">62,475</td> <td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--IncomeTaxesPayable_iI_pp0p0_maTPCANzYHL_zSGU2sLEoOG7" style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Income taxes payable</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">5,331,808</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">12,410,542</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98C_ecustom--IncomeTaxesPayable_iI_pp0p0_uUSD_c20251231_zroEUhACpzvc" style="text-align: right" title="Income taxes payable">1,765,670</td> <td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--OtherTaxesPayable_iI_pp0p0_maTPCANzYHL_zP0NMLv9AuL9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Other taxes payable</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">21,729</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">17,982</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_989_ecustom--OtherTaxesPayable_iI_pp0p0_uUSD_c20251231_zvJTlLh95gdg" style="border-bottom: Black 1pt solid; text-align: right" title="Other taxes payable">2,559</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--TaxesPayableCurrentAndNoncurrent_iTI_pp0p0_mtTPCANzYHL_zdkGjW26baYe" style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt">Totals</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">5,892,194</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">12,867,650</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98D_eus-gaap--TaxesPayableCurrentAndNoncurrent_iTI_pp0p0_uUSD_c20251231_zucE6u9oD3hb" style="border-bottom: Black 2.5pt double; text-align: right" title="Totals">1,830,704</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AB_zkStSUHq2NS4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> 0.165 Fe-da Electronics was incorporated in Singapore and was subject to Singapore Profits Tax on the taxable income as reported in its statutory financial statements adjusted in accordance with relevant Singapore tax laws before the financial year 2024. The applicable tax rate is 17% in Singapore, with 75% of the first SGD 10,000 taxable income and 50% of the next SGD 190,000 taxable income is exempted from income tax. <table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_zuhRGUuJivzk" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Taxes (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt"><span id="xdx_8BC_zixGwR7bzOq4" style="display: none">Schedule of components of the provision for income taxes</span></td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td id="xdx_49E_20230101__20231231_z3qHPtWSot71" style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td id="xdx_494_20240101__20241231_zJ4qVFBWVhTh" style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td id="xdx_497_20250101__20251231_zts3Bgs7yNrb" style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the<br/> year ended <br/>December 31, <br/>2023</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the<br/> year ended <br/>December 31, <br/>2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the<br/> year ended <br/>December 31, <br/>2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the<br/> year ended <br/>December 31, <br/>2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--CurrentIncomeTaxExpenseBenefit_iN_pp0p0_di_zfEV5ib7JZI4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 52%; text-align: left">Current income tax expenses</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right">(166,476</td> <td style="width: 1%; text-align: left">)</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right">(5,590,543</td> <td style="width: 1%; text-align: left">)</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right">(7,334,225</td> <td style="width: 1%; text-align: left">)</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98A_eus-gaap--CurrentIncomeTaxExpenseBenefit_iN_pp0p0_di_uUSD_c20250101__20251231_zVd02hOEFU21" style="width: 9%; text-align: right" title="Current income tax expenses">(1,043,453</td> <td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--DeferredIncomeTaxExpenseBenefit_iN_di_zDIVJ9RROGk1" style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Deferred income tax benefits/(provision) </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">2,666,910</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">(547,502</td> <td style="padding-bottom: 1pt; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">2,740</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98C_eus-gaap--DeferredIncomeTaxExpenseBenefit_iN_pp0p0_di_uUSD_c20250101__20251231_z17epwjqanFj" style="border-bottom: Black 1pt solid; text-align: right" title="Deferred income tax benefits/(provision)">390</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--IncomeTaxExpenseBenefit_iN_pp0p0_di_zzdJGVFHdMg6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt">Income tax credit/(expenses)</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">2,500,434</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">(6,138,045</td> <td style="padding-bottom: 2.5pt; text-align: left">)</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">(7,331,485</td> <td style="padding-bottom: 2.5pt; text-align: left">)</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98A_eus-gaap--IncomeTaxExpenseBenefit_iN_pp0p0_di_uUSD_c20250101__20251231_zMaGE0yTeEal" style="border-bottom: Black 2.5pt double; text-align: right" title="Income tax credit/(expenses)">(1,043,063</td> <td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> 166476 5590543 7334225 1043453 -2666910 547502 -2740 -390 -2500434 6138045 7331485 1043063 <table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zOGIGxndSDo4" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Taxes (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8B8_zIeMXW17Mz05" style="display: none">Schedule of effective income tax rate reconciliation</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the<br/> year ended <br/>December 31, <br/>2023</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the<br/> year ended <br/>December 31, <br/>2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>For the<br/> year ended<br/> December 31,<br/> 2025</b></td> <td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">China statutory income tax rate</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right"><span id="xdx_904_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_dp_c20230101__20231231_z8FBaOHxfAtd" title="China statutory income tax rate">25.00</span></td> <td style="width: 1%; text-align: left">%</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right"><span id="xdx_903_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_dp_c20240101__20241231_zyv03XoDU109" title="China statutory income tax rate">25.00</span></td> <td style="width: 1%; text-align: left">%</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="text-align: right; width: 9%"><span id="xdx_906_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_dp_c20250101__20251231_zAR8u0HygDjc" title="China statutory income tax rate">25.00</span></td> <td style="width: 1%">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Preferential tax rate in China</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_905_eus-gaap--EffectiveIncomeTaxRateReconciliationDeductions_iN_dpi_c20230101__20231231_z5r75nydDFHi" title="Preferential tax rate in China">(20.00</span></td> <td style="text-align: left">)%</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90A_eus-gaap--EffectiveIncomeTaxRateReconciliationDeductions_iN_dpi_c20240101__20241231_zOHgzgOG1RSg" title="Preferential tax rate in China">(20.00</span></td> <td style="text-align: left">)%</td> <td> </td> <td> </td> <td style="text-align: right"><span id="xdx_90D_eus-gaap--EffectiveIncomeTaxRateReconciliationDeductions_iN_dpi_c20250101__20251231_zEDtGydcbVse" title="Preferential tax rate in China">(20.00</span></td> <td>)%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Tax rate difference outside China⁽¹⁾</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90C_ecustom--EffectiveIncomeTaxRateReconciliationTaxRateDifferenceOutsideChina1_dp_c20230101__20231231_fKDEp_z2UXBdkRl6t1" title="Tax rate difference outside China">(16.75</span></td> <td style="text-align: left">)%</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_902_ecustom--EffectiveIncomeTaxRateReconciliationTaxRateDifferenceOutsideChina1_dp_c20240101__20241231_fKDEp_zKT48oRRVEM" title="Tax rate difference outside China">(9.04</span></td> <td style="text-align: left">)%</td> <td> </td> <td> </td> <td style="text-align: right"><span id="xdx_90A_ecustom--EffectiveIncomeTaxRateReconciliationTaxRateDifferenceOutsideChina1_dp_c20250101__20251231_fKDEp_zmsCTBGaGLSf" title="Tax rate difference outside China">(11.10</span></td> <td>)%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Change in valuation allowance</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_906_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_dp_c20230101__20231231_zLfBR3Szb5I9" title="Change in valuation allowance">(5.00</span></td> <td style="text-align: left">)%</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90C_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_dp_c20240101__20241231_zrEwkEmLC1ua" title="Change in valuation allowance">(9.35</span></td> <td style="text-align: left">)%</td> <td> </td> <td> </td> <td style="text-align: right"><span id="xdx_907_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_dp_c20250101__20251231_zDUa2joJg6Wf" title="Change in valuation allowance">(7.53</span></td> <td>)%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Additional R&amp;D deduction in China</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_909_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseResearchAndDevelopment_dp_c20230101__20231231_zfLlgjQuRexb" title="Additional R&amp;D deduction in China">0.00</span></td> <td style="text-align: left">%</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_902_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseResearchAndDevelopment_dp_c20240101__20241231_zI0TIGlujMei" title="Additional R&amp;D deduction in China">0.00</span></td> <td style="text-align: left">%</td> <td> </td> <td> </td> <td style="text-align: right"><span id="xdx_90C_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseResearchAndDevelopment_dp_c20250101__20251231_zwNIQjTYgwD7" title="Additional R&amp;D deduction in China">0.00</span></td> <td>%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Permanent difference</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90C_ecustom--EffectiveIncomeTaxRateReconciliationPermanentDifference_dp_c20230101__20231231_zoCtzb3wQO11" title="Permanent difference">17.68</span></td> <td style="padding-bottom: 1pt; text-align: left">%</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_900_ecustom--EffectiveIncomeTaxRateReconciliationPermanentDifference_dp_c20240101__20241231_z106u0f8h6D9" title="Permanent difference">23.88</span></td> <td style="padding-bottom: 1pt; text-align: left">%</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_904_ecustom--EffectiveIncomeTaxRateReconciliationPermanentDifference_dp_c20250101__20251231_zouzZsH7Dqxe" title="Permanent difference">19.07</span></td> <td style="padding-bottom: 1pt">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt">Effective tax rate</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_904_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_c20230101__20231231_zbo4iMdZJGm7" title="Effective tax rate">(0.93</span></td> <td style="padding-bottom: 2.5pt; text-align: left">)%</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90F_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_c20240101__20241231_zm6p7xQl61Wf" title="Effective tax rate">10.49</span></td> <td style="padding-bottom: 2.5pt; text-align: left">%</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_902_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_c20250101__20251231_zcMLRvZAOmv5" title="Effective tax rate">5.44</span></td> <td style="padding-bottom: 2.5pt">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <div style="width: 25%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0in"></td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in"><sup id="xdx_F0F_zbAd97OXi7Qg">(1)</sup></td> <td id="xdx_F16_z9v0n2rU1k9e" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> It is mainly due to the lower tax rate of the entities incorporated in Hong Kong, Singapore, and tax exempt in Cayman Islands.</td> </tr> </table> 0.2500 0.2500 0.2500 0.2000 0.2000 0.2000 -0.1675 -0.0904 -0.1110 -0.0500 -0.0935 -0.0753 0.0000 0.0000 0.0000 0.1768 0.2388 0.1907 -0.0093 0.1049 0.0544 <table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_zBsEuLJ8rEr6" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Taxes (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8BF_zq4JmYpqLTp3" style="display: none">Schedule of deferred tax assets and liabilities</span></td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_492_20241231_za6R7yFWMeC6" style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_490_20251231_z4uA35NHHu6a" style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/>2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/>2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/>2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsNetAbstract_iB" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Deferred tax assets:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">Net operating loss carryforwards</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1815">-</span></td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1816">-</span></td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98B_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pp0p0_uUSD_c20251231_zzROjW7hby59" style="width: 9%; text-align: right" title="Net operating loss carryforwards"><span style="-sec-ix-hidden: xdx2ixbrl1818">-</span></td> <td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Allowance for credit losses</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">440,346</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">443,086</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_986_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts_iI_pp0p0_uUSD_c20251231_ziSB30FmTgh5" style="border-bottom: Black 1pt solid; text-align: right" title="Allowance for credit losses">63,039</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pp0p0_di_zeHPNPBsnIZk" style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Less: valuation allowance</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1825">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1826">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98E_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pp0p0_di_uUSD_c20251231_z2nRP4Vesayh" style="border-bottom: Black 1pt solid; text-align: right" title="Less: valuation allowance"><span style="-sec-ix-hidden: xdx2ixbrl1828">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsNet_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Deferred tax assets, net</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">440,346</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">443,086</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_987_eus-gaap--DeferredTaxAssetsNet_iI_pp0p0_uUSD_c20251231_zetRF8cBynv" style="text-align: right" title="Deferred tax assets, net">63,039</td> <td style="text-align: left"> </td></tr> </table> 440346 443086 63039 440346 443086 63039 0 0 0 0 0.13 0.09 <table cellpadding="0" cellspacing="0" id="xdx_890_ecustom--ScheduleOfTaxPayableTableTextBlock_zxjBQODJAbh3" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Taxes (Details 3)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8BD_zc6RvnxOrctc" style="display: none">Schedule of taxes payable</span></td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_496_20241231_zmb3Qrr458Lh" style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_494_20251231_zcToYIDQXRDk" style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/>2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/>2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/>2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_ecustom--VatTaxesPayable_iI_pp0p0_maTPCANzYHL_zNYWwSdm2GNh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">VAT taxes payable</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right">538,657</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right">439,126</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_983_ecustom--VatTaxesPayable_iI_pp0p0_uUSD_c20251231_zjG0JWSpFqA8" style="width: 9%; text-align: right" title="VAT taxes payable">62,475</td> <td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--IncomeTaxesPayable_iI_pp0p0_maTPCANzYHL_zSGU2sLEoOG7" style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Income taxes payable</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">5,331,808</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">12,410,542</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98C_ecustom--IncomeTaxesPayable_iI_pp0p0_uUSD_c20251231_zroEUhACpzvc" style="text-align: right" title="Income taxes payable">1,765,670</td> <td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--OtherTaxesPayable_iI_pp0p0_maTPCANzYHL_zP0NMLv9AuL9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Other taxes payable</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">21,729</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">17,982</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_989_ecustom--OtherTaxesPayable_iI_pp0p0_uUSD_c20251231_zvJTlLh95gdg" style="border-bottom: Black 1pt solid; text-align: right" title="Other taxes payable">2,559</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--TaxesPayableCurrentAndNoncurrent_iTI_pp0p0_mtTPCANzYHL_zdkGjW26baYe" style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt">Totals</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">5,892,194</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">12,867,650</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98D_eus-gaap--TaxesPayableCurrentAndNoncurrent_iTI_pp0p0_uUSD_c20251231_zucE6u9oD3hb" style="border-bottom: Black 2.5pt double; text-align: right" title="Totals">1,830,704</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 538657 439126 62475 5331808 12410542 1765670 21729 17982 2559 5892194 12867650 1830704 <p id="xdx_80A_eus-gaap--ConcentrationRiskDisclosureTextBlock_zPLAKZQQ5Br8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><b>Note 13 — <span id="xdx_82D_zVTD20ZoKcvj">Concentration of risk</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline">Credit risk</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in"><span id="xdx_90C_ecustom--CreditRiskDescription_c20250101__20251231_z3fwoLt4rAqk" title="Credit Risk Description">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash. In China, the insurance coverage of each bank is RMB 500,000 (approximately USD 71,136). As of December 31, 2025, cash balance of RMB 154,119,320 (USD 21,926,832) was deposited with financial institutions located in China, of which RMB 142,841,958 (USD 20,322,382) was subject to credit risk. The Hong Kong Deposit Protection Board pays compensation up to a limit of HKD 800,000 (approximately USD 102,802) if the bank with which an individual/a company hold its eligible deposit fails. As of December 31, 2025, cash balance of RMB 312,616,435 (USD 44,476,502) was maintained at financial institutions in Hong Kong, of which RMB 306,456,415 (USD 43,600,105) was subject to credit risk. In the US, the insurance coverage of each bank is USD 250,000. As of December 31, 2025, cash balance of USD 7,571,246 (RMB 53,216,777) was deposited with a financial institution located in US, USD 6,761,512 (RMB 47,525,319) of which was subject to credit risk. In Singapore, Singapore Deposit Insurance Corporation Limited (SDIC) provides the insurance coverage of each bank is SGD 100,000 (USD 77,660). As of December 31, 2025, cash balance of RMB 707,668,136 (USD 100,681,217) was deposited with financial institutions located in Singapore, of which RMB 705,483,015 (USD 100,370,336) was subject to credit risk. While management believes that these financial institutions are of high credit quality, it also continually monitors their credit worthiness.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">A majority of the Company’s expense transactions are denominated In RMB and a significant portion of the Company and its subsidiaries’ assets and liabilities are denominated in RMB. RMB is not freely convertible into foreign currencies. In the PRC, certain foreign exchange transactions are required by law to be transacted only by authorized financial institutions at exchange rates set by the PBOC. Remittances in currencies other than RMB by the Company in China must be processed through the PBOC or other China foreign exchange regulatory bodies which require certain supporting documentation in order to affect the remittance.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">To the extent that the Company needs to convert U.S. dollars into RMB for capital expenditures and working capital and other business purposes, appreciation of RMB against U.S. dollar would have an adverse effect on the RMB amount the Company would receive from the conversion. Conversely, if the Company decides to convert RMB into U.S. dollar for the purpose of making payments for dividends, strategic acquisition or investments or other business purposes, appreciation of U.S. dollar against RMB would have a negative effect on the U.S. dollar amount available to the Company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline">Customer concentration risk</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">For the year ended December 31, 2023, one customer accounted for <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zcfck9FzLF7l" title="Concentration risk percentage">9.3%</span> of the Company’s total revenues. For the year ended December 31, 2024, one customer accounted for <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_c20240101__20241231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zeAXaLvKg8a1" title="Concentration risk percentage">12.0</span>% of the Company’s total revenues. For the year ended December 31, 2025, three customers accounted for <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_dp_c20250101__20251231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ThreeCustomerMember_ztrqnXDj3nLd" title="Concentration risk percentage">41.5</span>% of the Company’s total revenues.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">As of December 31, 2024, three customers accounted for <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_c20240101__20241231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ThreeCustomerMember_z5tc55TR35da" title="Concentration risk percentage">50.5</span>% of the Company’s accounts receivable. As of December 31, 2025, three customers accounted for <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp_c20250101__20251231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ThreeCustomerMember_zfskYHlF2IOd" title="Concentration risk percentage">67.1</span>% of the Company’s accounts receivable.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline">Vendor concentration risk</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">For the year ended December 31, 2023, one vendor accounted for <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_dp_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchasesMember__us-gaap--ConcentrationRiskByTypeAxis__custom--VendorConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneVendorMember_zeyJpdZ2U88c" title="Concentration risk percentage">11.4%</span> of the Company’s total purchases. For the year ended December 31, 2024, two vendors accounted for <span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp_c20240101__20241231__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchasesMember__us-gaap--ConcentrationRiskByTypeAxis__custom--VendorConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoVendorMember_zPAEDNWOBlwi">23.8</span>% of the Company’s total purchases. For the year ended December 31, 2025, three vendors accounted for <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_dp_c20250101__20251231__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchasesMember__us-gaap--ConcentrationRiskByTypeAxis__custom--VendorConcentrationRiskMember__srt--MajorCustomersAxis__custom--ThreeVendorMember_zGXwpMgsDVk3" title="Concentration risk percentage">49.0</span>% of the Company’s total purchases.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">As of December 31, 2024, three vendors accounted for <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_dp_c20240101__20241231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__custom--VendorConcentrationRiskMember__srt--MajorCustomersAxis__custom--ThreeVendorMember_zyfwHGd7ydci" title="Concentration risk percentage">71.5</span>% of the Company’s accounts payable. As of December 31, 2025, five vendors accounted for <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_dp_c20250101__20251231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__custom--VendorConcentrationRiskMember__srt--MajorCustomersAxis__custom--FiveVendorMember_zhEokY2gK2Tj" title="Concentration risk percentage">92.7</span>% of the Company’s accounts payable.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash. In China, the insurance coverage of each bank is RMB 500,000 (approximately USD 71,136). As of December 31, 2025, cash balance of RMB 154,119,320 (USD 21,926,832) was deposited with financial institutions located in China, of which RMB 142,841,958 (USD 20,322,382) was subject to credit risk. The Hong Kong Deposit Protection Board pays compensation up to a limit of HKD 800,000 (approximately USD 102,802) if the bank with which an individual/a company hold its eligible deposit fails. As of December 31, 2025, cash balance of RMB 312,616,435 (USD 44,476,502) was maintained at financial institutions in Hong Kong, of which RMB 306,456,415 (USD 43,600,105) was subject to credit risk. In the US, the insurance coverage of each bank is USD 250,000. As of December 31, 2025, cash balance of USD 7,571,246 (RMB 53,216,777) was deposited with a financial institution located in US, USD 6,761,512 (RMB 47,525,319) of which was subject to credit risk. In Singapore, Singapore Deposit Insurance Corporation Limited (SDIC) provides the insurance coverage of each bank is SGD 100,000 (USD 77,660). As of December 31, 2025, cash balance of RMB 707,668,136 (USD 100,681,217) was deposited with financial institutions located in Singapore, of which RMB 705,483,015 (USD 100,370,336) was subject to credit risk. While management believes that these financial institutions are of high credit quality, it also continually monitors their credit worthiness. 0.093 0.120 0.415 0.505 0.671 0.114 0.238 0.490 0.715 0.927 <p id="xdx_800_ecustom--LeasesDisclosureTextBlock_zsqToRr6nZw" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><b>Note 14 — <span id="xdx_820_zMW02XoeYy8f">Leases</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline">Lease commitments</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company determines if a contract contains a lease at inception. US GAAP requires that the Company’s leases be evaluated and classified as operating or finance leases for financial reporting purposes. The classification evaluation begins at the commencement date and the lease term used in the evaluation includes the non-cancellable period for which the Company has the right to use the underlying asset, together with renewal option periods when the exercise of the renewal option is reasonably certain and failure to exercise such option which result in an economic penalty. All of the Company’s real estate leases are classified as operating leases. The Company has elected the short-term lease exemption under ASC 842 for leases with terms of 12 months or less.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company has entered into seven non-cancellable operating lease agreements for 6 office spaces expiring through January 2028. As of December 31, 2025, the Company recognized approximately RMB <span id="xdx_905_ecustom--OperatingLeaseRightOfUseAssets_iI_pn3n3_dm_c20251231_zSwFZFKD8Ji8" title="Operating lease right of use assets">0.7 </span>million (USD <span id="xdx_90F_ecustom--OperatingLeaseRightOfUseAssets_iI_pn3n3_dm_uUSD_c20251231_zYTim84emyN4" title="Operating lease right of use assets">0.1</span> million) right of use (“ROU”) assets and same amount of lease liabilities based on the present value of the future minimum rental payments of leases, using an incremental borrowing rate of <span id="xdx_908_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_dp_c20201231_z7iH6TNLeFra">7%</span>, which is determined using an incremental borrowing rate with similar term in the PRC. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The leases generally do not contain options to extend at the time of expiration and the weighted average remaining lease terms are <span id="xdx_90E_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20251231_zHeVgQuiq7ld">1.5 </span>years. The Company takes the short-term lease exemption for the lease agreements with a term of less than 1 year and expensed nil and nil during the years ended December 31, 2024 and 2025, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Operating lease expenses are allocated between the cost of revenue and selling, research and development, general, and administrative expenses. Long-term rent expenses for the years ended December 31, 2023, 2024 and 2025 was RMB <span id="xdx_90F_ecustom--RentExpenses_pp0p0_c20230101__20231231_zZ3vDgJuY04l" title="Rent expenses">1,284,750</span>, RMB <span id="xdx_90E_ecustom--RentExpenses_pp0p0_c20240101__20241231_zXCbmsdnnaGj" title="Rent expenses">1,139,743</span> and RMB <span id="xdx_906_ecustom--RentExpenses_pp0p0_c20250101__20251231_z5VjTWmupGTd" title="Rent expenses">1,094,679</span> (USD <span id="xdx_901_ecustom--RentExpenses_pp0p0_uUSD_c20250101__20251231_zyX2eC4jtiuj" title="Rent expenses">153,255</span>), respectively. Impairment of right of use assets amounted for the years ended December 31, 2023, 2024 and 2025 was <span id="xdx_90D_ecustom--ImpairmentOfRightOfUseAssets_pp0p0_c20230101__20231231_z3NrVlTgRsS4" title="Impairment of right of use assets"><span id="xdx_905_ecustom--ImpairmentOfRightOfUseAssets_pp0p0_c20240101__20241231_z8pptMNDBIT2" title="Impairment of right of use assets"><span id="xdx_906_ecustom--ImpairmentOfRightOfUseAssets_pp0p0_c20250101__20251231_zQgfyvPXsBe1" style="display: none" title="Impairment of right of use assets">0</span></span></span>nil, nil and nil, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The five-year maturity of the Company’s operating lease obligations is presented below:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_89B_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zoAPNCsV6f27" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Leases (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8B0_zA7uyb2ySh04" style="display: none">Schedule of operating lease obligations</span></td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_491_20251231_z96ilvhpuobd" style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">Twelve Months Ending December 31,</td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Operating Lease <br/>Amount</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pp0p0_maLOLLPzbbH_zwUHRHfmGu68" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 76%; text-align: left">2026</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right">543,288</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_988_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pp0p0_uUSD_c20251231_zoXNXRlTEzz7" style="width: 9%; text-align: right" title="2026">77,295</td> <td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pp0p0_maLOLLPzbbH_zstoConrzuo3" style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">2027</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">243,281</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_988_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pp0p0_uUSD_c20251231_z3lavvoYNu5i" style="text-align: right" title="2027">34,612</td> <td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_pp0p0_maLOLLPzbbH_zesws46u9CKg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">2028</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1926">-</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_pp0p0_uUSD_c20251231_zceFC09sEcs7" style="text-align: right" title="2028"><span style="-sec-ix-hidden: xdx2ixbrl1928">-</span></td> <td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFive_iI_pp0p0_maLOLLPzbbH_ztr3kpZCdDh" style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">2029</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1930">-</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_985_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFive_iI_pp0p0_uUSD_c20251231_z4q7LE6w46tj" style="text-align: right" title="2029"><span style="-sec-ix-hidden: xdx2ixbrl1932">-</span></td> <td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_iI_pp0p0_maLOLLPzbbH_zOyaaZFECrYf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">2030</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1934">-</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98D_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_iI_pp0p0_uUSD_c20251231_zvODGkN65glh" style="text-align: right" title="2030"><span style="-sec-ix-hidden: xdx2ixbrl1936">-</span></td> <td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFive_iI_pp0p0_maLOLLPzbbH_zIn0rezX2fj5" style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1pt; text-align: left">Thereafter</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1938">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFive_iI_pp0p0_uUSD_c20251231_zTgUtzVOlUJ4" style="border-bottom: Black 1pt solid; text-align: right" title="Thereafter"><span style="-sec-ix-hidden: xdx2ixbrl1940">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pp0p0_mtLOLLPzbbH_z2jHfHX61obi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Total lease payments</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">786,569</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pp0p0_uUSD_c20251231_zoJttuH9rGQ2" style="text-align: right" title="Total lease payments">111,907</td> <td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iI_pp0p0_zMZ77Z6ndYJi" style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1pt; text-align: left">Less: Interest</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">14,677</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98C_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iI_pp0p0_uUSD_c20251231_zAi7S6j5iK17" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Interest">2,088</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseLiability_iI_pp0p0_zq9czea7b3m6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 2.5pt; text-align: left">Present value of lease liabilities</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">771,892</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_989_eus-gaap--OperatingLeaseLiability_iI_pp0p0_uUSD_c20251231_zWUzsJPokr9h" style="border-bottom: Black 2.5pt double; text-align: right" title="Present value of lease liabilities">109,819</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A5_zAC3CmdtVBM7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> 700000 100000 0.07 P1Y6M 1284750 1139743 1094679 153255 0 0 0 <table cellpadding="0" cellspacing="0" id="xdx_89B_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zoAPNCsV6f27" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Leases (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8B0_zA7uyb2ySh04" style="display: none">Schedule of operating lease obligations</span></td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_491_20251231_z96ilvhpuobd" style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">Twelve Months Ending December 31,</td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Operating Lease <br/>Amount</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pp0p0_maLOLLPzbbH_zwUHRHfmGu68" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 76%; text-align: left">2026</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right">543,288</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_988_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pp0p0_uUSD_c20251231_zoXNXRlTEzz7" style="width: 9%; text-align: right" title="2026">77,295</td> <td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pp0p0_maLOLLPzbbH_zstoConrzuo3" style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">2027</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">243,281</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_988_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pp0p0_uUSD_c20251231_z3lavvoYNu5i" style="text-align: right" title="2027">34,612</td> <td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_pp0p0_maLOLLPzbbH_zesws46u9CKg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">2028</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1926">-</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_pp0p0_uUSD_c20251231_zceFC09sEcs7" style="text-align: right" title="2028"><span style="-sec-ix-hidden: xdx2ixbrl1928">-</span></td> <td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFive_iI_pp0p0_maLOLLPzbbH_ztr3kpZCdDh" style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">2029</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1930">-</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_985_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFive_iI_pp0p0_uUSD_c20251231_z4q7LE6w46tj" style="text-align: right" title="2029"><span style="-sec-ix-hidden: xdx2ixbrl1932">-</span></td> <td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_iI_pp0p0_maLOLLPzbbH_zOyaaZFECrYf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">2030</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1934">-</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98D_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_iI_pp0p0_uUSD_c20251231_zvODGkN65glh" style="text-align: right" title="2030"><span style="-sec-ix-hidden: xdx2ixbrl1936">-</span></td> <td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFive_iI_pp0p0_maLOLLPzbbH_zIn0rezX2fj5" style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1pt; text-align: left">Thereafter</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1938">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFive_iI_pp0p0_uUSD_c20251231_zTgUtzVOlUJ4" style="border-bottom: Black 1pt solid; text-align: right" title="Thereafter"><span style="-sec-ix-hidden: xdx2ixbrl1940">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pp0p0_mtLOLLPzbbH_z2jHfHX61obi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Total lease payments</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">786,569</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pp0p0_uUSD_c20251231_zoJttuH9rGQ2" style="text-align: right" title="Total lease payments">111,907</td> <td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iI_pp0p0_zMZ77Z6ndYJi" style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1pt; text-align: left">Less: Interest</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">14,677</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98C_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iI_pp0p0_uUSD_c20251231_zAi7S6j5iK17" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Interest">2,088</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseLiability_iI_pp0p0_zq9czea7b3m6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 2.5pt; text-align: left">Present value of lease liabilities</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">771,892</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_989_eus-gaap--OperatingLeaseLiability_iI_pp0p0_uUSD_c20251231_zWUzsJPokr9h" style="border-bottom: Black 2.5pt double; text-align: right" title="Present value of lease liabilities">109,819</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 543288 77295 243281 34612 786569 111907 14677 2088 771892 109819 <p id="xdx_80C_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_zxJDvTNzjIB9" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><b>Note 15 — <span id="xdx_828_zfFSQV6i4p0d">Shareholders’ equity</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Company was established under the laws of Cayman Islands on May 14, 2018 with authorized share of <span id="xdx_901_eus-gaap--CommonStockSharesAuthorized_iI_c20180514__us-gaap--StatementClassOfStockAxis__custom--OrdinarySharesMember_z0Eyqsr2aACh" title="Common Stock, Shares Authorized">50,000,000</span> ordinary shares of par value USD <span id="xdx_90E_eus-gaap--CommonStockParOrStatedValuePerShare_iI_uUSDPShares_c20180514__us-gaap--StatementClassOfStockAxis__custom--OrdinarySharesMember_zSPEWRBoy3s8" title="Common Stock, Par or Stated Value Per Share">0.001</span> each.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">On October 21, 2022, the Company held an Extraordinary General Meeting of its stockholders of record. The Meeting approved amendments to increase the number of authorized Ordinary shares of the Company from USD 50,000 divided into 50,000,000 Ordinary shares of par value USD 0.001 each to USD 200,000 divided into 200,000,000 Ordinary shares of par value USD 0.001 each.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Share consolidation or reverse share split</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">On March 15, 2024, the Company held an Extraordinary General Meeting of its stockholders of record. <span id="xdx_908_ecustom--ReverseShareSplitDescription_c20240301__20240315_za0zFg6NduFj" title="Reverse share split description">The Meeting approved amendments to (i) every ten (10) shares of the Company’s ordinary share issued, par value of US$0.001, was consolidated into one (1) share of ordinary share, par value $0.01, and the authorized share capital of the Company was reduced from US$200,000 divided into 200,000,000 shares of a nominal or par value of US$0.0001 each to US$200,000 divided into 20,000,000 shares of a nominal or par value of US$0.01 each; (ii) increase the number of authorized Ordinary shares of the Company from US$200,000 divided into 20,000,000 shares of a nominal or par value of US$0.01 each to US$2,000,000 divided into 200,000,000 shares of a nominal or par value of US$0.01 each, by the creation of an additional 180,000,000 shares of a nominal or par value of US$0.01 each to rank pari passu in all respects with the existing shares in the capital of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">On March 22, 2024, the Company’s share consolidation plan became effective.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">On November 29, 2024, the Company held 2024 annual general meeting of shareholders. <span id="xdx_906_ecustom--ReverseShareSplitDescription_c20241101__20241129_z6gpBVH5BJAk" title="Reverse share split description">The Meeting approved amendments to (i) every 20 issued and unissued ordinary shares of a nominal or par value of US$0.01 each in the capital of the Company be consolidated into one (1) share of a nominal or par value of US$0.2 each such that following the Share Consolidation the authorized share capital of the Company will be changed from US$2,000,000 divided into 200,000,000 shares of a nominal or par value of US$0.01 each to US$2,000,000 divided into 10,000,000 shares of a nominal or par value of US$0.02 each; (ii) increase the authorized share capital of the Company from US$2,000,000 divided into 10,000,000 Consolidated Ordinary Shares of a nominal or par value of$0.2 each, to US$200,000,000 divided into 1,000,000,000 Consolidated Ordinary Shares of a nominal or par value of $0.2 each, by the creation of an additional 990,000,000 Consolidated Ordinary Shares.</span>; (iii) the authorized share capital of the Company be changed to create a dual-class share structure by</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">a) re-designating <span id="xdx_900_ecustom--OrdinaryStockSharesAuthorized_iI_c20251231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesMember_z3aJerqP0Rul" title="Ordinary stock, shares authorized">800,000,000</span> authorized Consolidated Class A Ordinary shares (including all the issued and outstanding Consolidated Class A Ordinary shares) into class A Class A Ordinary shares of a nominal or par value of US$0. 2 par value each (the “Class A Class A Ordinary shares”), and each Class A Ordinary Share shall be entitled to one (1) vote per Class A Ordinary Share; and</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">b) re-designating 200,000,000 authorized but unissued Consolidated Ordinary shares into class B Class A Ordinary shares of a nominal or par value of US$0.2 each (the “Class B Ordinary shares”), and each Class B Ordinary Share shall be entitled to 20 votes per Class B Ordinary Share (the “Variation of Share Capital”), such that immediately following the Variation of Share Capital, the authorized share capital of the Company shall be changed from US$200,000,000 divided into 1,000,000,000 Consolidated Ordinary shares to US$200,000,000 divided into 800,000,000 Class A Ordinary shares, and 200,000,000 Class B Ordinary shares;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">On December 13, 2024, the Company’s share consolidation plan became effective.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">On July 2, 2025, the Company held an Extraordinary General Meeting of shareholders. The Meeting approved (i) A 30-for-1 share consolidation of the Company<span style="font-family: Times New Roman, Times, Serif">’</span>s issued and unissued Class A and Class B ordinary shares; (ii) An increase in the authorized share capital to US$<span id="xdx_90D_ecustom--ShareCapital_iI_uUSD_c20250702_zERsHjDjtSnh" title="Share capital">6,000,000,000</span>, effective immediately following the Share Consolidation. (iii) A capital reduction and reorganization, which includes reducing the par value of the Company<span style="font-family: Times New Roman, Times, Serif">’</span>s ordinary shares to US$0.0000001. (iv) An amendment to the Company<span style="font-family: Times New Roman, Times, Serif">’</span>s Memorandum and Association to reflect the new capital structure following the reorganization. The proposals (iii) and (iv) are special resolutions, and their implementation remains conditional upon the sanction of the Grand Court of the Cayman Islands.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">On July 16, 2025, the Company<span style="font-family: Times New Roman, Times, Serif">’</span>s share consolidation plan became effective. <span id="xdx_909_ecustom--ShareConsolidationDescription_c20250701__20250716_zz77A1Pgh57f" title="Share consolidation description">The share capital of the Company is US$6,000,000,000 divided into 1,000,000,000 shares comprising of (i) 800,000,000 Class A Ordinary Shares of a par value of US$6 each, and (ii) 200,000,000 Class B Ordinary Shares of a par value of US$6 each. There is no limit on the number of shares of any class which the Company is authorized to issue. Each Class A Ordinary Share shall be entitled to one (1) vote per Class A Ordinary Share and each Class B Ordinary Share shall be entitled to 20 votes per Class B Ordinary Share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">On September 16, 2025, the Grand Court of the Cayman Islands (the <span style="font-family: Times New Roman, Times, Serif">“</span>Court<span style="font-family: Times New Roman, Times, Serif">”</span>) issued an order confirming the reduction of the Company<span style="font-family: Times New Roman, Times, Serif">’</span>s share capital as approved by the shareholders.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In accordance with the Court<span style="font-family: Times New Roman, Times, Serif">’</span>s directive, the Company submitted the order of the Court to the Registrar of Companies in the Cayman Islands for registration, and the reduction of share capital has now become effective. As confirmed by the Court, the capital reduction and reorganization entailed the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"> <tr style="vertical-align: top; text-align: justify"> <td style="text-align: justify; width: 0.25in"></td> <td style="width: 0.25in; text-align: justify">-</td> <td style="text-align: justify">The par value of each issued share was reduced from US6.00 to US0.0000001.</td> </tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"> <tr style="vertical-align: top; text-align: justify"> <td style="text-align: justify; width: 0.25in"></td> <td style="width: 0.25in; text-align: justify">-</td> <td style="text-align: justify">The credit arising from this reduction was transferred to a distributable reserve account for the Company.</td> </tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"> <tr style="vertical-align: top; text-align: justify"> <td style="text-align: justify; width: 0.25in"></td> <td style="width: 0.25in; text-align: justify">-</td> <td style="text-align: justify">The authorized share capital of the Company was changed from US<span id="xdx_90D_ecustom--ShareCapital_iI_uUSD_c20250702_zcoXghcVoEil" title="Share capital">6,000,000,000</span> (divided into 1,000,000,000 shares) to US100 (divided into 1,000,000,000 shares).</td> </tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">As of December 31, 2025, <span id="xdx_900_ecustom--ShareConsolidationDescription_c20250101__20251231_zlNzj6WdcUv1" title="Share consolidation description">the share capital of the Company is US$100 divided into 1,000,000,000 shares comprising of (i) 800,000,000 Class A Ordinary Shares of a par value of US$0.0000001 each, and (ii) 200,000,000 Class B Ordinary Shares of a par value of US$0.0000001 each.</span> There is no limit on the number of shares of any class which the Company is authorized to issue. Each Class A Ordinary Share shall be entitled to one (1) vote per Class A Ordinary Share and each Class B Ordinary Share shall be entitled to 20 votes per Class B Ordinary Share.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Company believes the share consolidation should be accounted for on a retroactive basis pursuant to ASC 260. The Company has retroactively restated all shares and per share data for all periods presented.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="text-decoration: underline">Ordinary shares issued and outstanding</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In 2024, the Company issued (i) <span id="xdx_906_ecustom--SharesIssuedConvertedFromConvertibleNotesPayableShares_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__custom--ClassAOrdinarySharesMember_zmHD2fKO1KAi">417,918</span> Class A ordinary shares and <span id="xdx_905_ecustom--SharesIssuedConvertedFromConvertibleNotesPayableShare_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__custom--ClassBOrdinarySharesMember_zoJyfYwEkeVe">333,333</span> Class B ordinary shares¹ pursuant to the Convertible Note Purchase Agreements signed with certain investors and the parent company WiMi; (ii) <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__custom--ClassAOrdinarySharesMember_zw3GAfAr8sN3">11,366</span> Class A ordinary shares¹ pursuant to the Securities Purchase Agreements with certain investors and the parent company WiMi.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In 2025, the Company issued <span id="xdx_90E_ecustom--SharesIssuedConvertedFromConvertibleNotesPayableShares_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__custom--ClassAOrdinarySharesMember_zVE1fiFoHeJe" title="Shares issued">10,503,634</span> Class A ordinary shares and <span id="xdx_90C_ecustom--SharesIssuedConvertedFromConvertibleNotesPayableShare_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__custom--ClassBOrdinarySharesMember_zWHGEt5BFeBa" title="Shares issued">1,162,609</span> Class B ordinary shares pursuant to the Convertible Note Purchase Agreements signed with certain investors and the parent company WiMi.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">As of December 31, 2025, the Company had <span id="xdx_90C_eus-gaap--CommonStockSharesOutstanding_iI_c20251231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesMember_zkHRYYkf54Tf" title="Ordinary stock, shares outstanding">10,941,519</span> Class A Ordinary shares and <span id="xdx_907_eus-gaap--CommonStockSharesOutstanding_iI_c20251231__us-gaap--StatementClassOfStockAxis__custom--ClassBOrdinarySharesMember_zahd5uJfdQB4" title="Ordinary stock, shares outstanding">1,495,942</span> Class B Ordinary shares issued and outstanding with a par value of USD <span id="xdx_902_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zLUeSEnhS9Yj" title="Common stock, par value"><span id="xdx_90E_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20251231__us-gaap--StatementClassOfStockAxis__custom--ClassBOrdinarySharesMember_z4CY586cqCo6" title="Common stock, par value">0.0000001</span></span> each.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"> </p> <div style="width: 25%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0%; font-size: 10pt"></td> <td style="width: 0.25in; font-size: 10pt"><span style="font-size: 10pt">¹ </span></td> <td style="font-size: 10pt; text-align: justify"><span style="font-size: 10pt"><i>Number of shares has been retrospectively adjusted for the share consolidation (10 to 1, 20 to 1, and 30 to 1) effective March 22, 2024, December 13, 2024 and July 16, 2025.</i></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline">Statutory reserve</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company’s PRC entities are required to set aside at least 10% of their after-tax profits each year, if any, to fund certain statutory reserve funds until such reserve funds reach 50% of its registered capital. In addition, the Company’s PRC entities may allocate a portion of its after-tax profits based on PRC accounting standards to enterprise expansion fund and staff bonus and welfare fund at its discretion. The Company’s PRC entities may allocate a portion of its after-tax profits based on PRC accounting standards to a discretionary surplus fund at its discretion. The statutory reserve funds and the discretionary funds are not distributable as cash dividends. Remittance of dividends by a wholly foreign-owned company out of China is subject to examination by the banks designated by State Administration of Foreign Exchange. As of December 31, 2024 and 2025, the Company’s PRC entities collectively attributed RMB <span id="xdx_909_ecustom--RetainedEarningsForStatutoryReserves_iI_pp0p0_c20241231_z0KdwKr9foYe" title="Retained earnings for statutory reserves">8,152,694</span> and RMB <span id="xdx_908_ecustom--RetainedEarningsForStatutoryReserves_iI_pp0p0_c20251231_z4GHkrYLToi1" title="Retained earnings for statutory reserves">8,354,597</span> (USD <span id="xdx_906_ecustom--RetainedEarningsForStatutoryReserves_iI_pp0p0_uUSD_c20251231_za68EjVPR5pl" title="Retained earnings for statutory reserves">1,188,623</span>), of accumulated deficit for their statutory reserves, respectively. During the years ended December 31, 2024 and 2025, the Company’s PRC entities collectively attributed RMB <span id="xdx_906_ecustom--StatutoryReserve_iI_pp0p0_c20241231_zPwG8vO7oJXf" title="Statutory reserve">1,419,689</span> and RMB <span id="xdx_90D_ecustom--StatutoryReserve_iI_pp0p0_c20251231_zO34wCfCObkg" title="Statutory reserve">201,903</span> (USD <span id="xdx_902_ecustom--StatutoryReserve_iI_pp0p0_uUSD_c20251231_zvHRFmOENWg4" title="Statutory reserve">28,725</span>) to statutory reserves, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline">Restricted assets</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company’s ability to pay dividends is primarily dependent on the Company receiving distributions of funds from its subsidiary. Relevant PRC statutory laws and regulations permit payments of dividends by the Company’s PRC entities only out of its accumulated deficit, if any, as determined in accordance with PRC accounting standards and regulations. The results of operations reflected in the accompanying consolidated financial statements prepared in accordance with U.S. GAAP differ from those reflected in the statutory financial statements of the Company’s PRC entities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">As a result of the foregoing restrictions, the Company’s PRC entities are restricted in their ability to transfer their assets to the Company. Foreign exchange and other regulation in the PRC may further restrict the Company’s PRC entities from transferring funds to the Company in the form of dividends, loans and advances. As of December 31, 2025, amounts restricted are the paid-in-capital and statutory reserve of the Company’s PRC entities, which amounted to RMB <span id="xdx_90B_ecustom--PaidincapitalAndStatutoryReserve_pp0p0_c20250101__20251231_zTfgIOWPnFS5" title="Paid-in-capital and statutory reserve">154,533,854</span> (USD <span id="xdx_909_ecustom--PaidincapitalAndStatutoryReserve_pp0p0_uUSD_c20250101__20251231_zjIzZQIIF0m6" title="Paid-in-capital and statutory reserve">21,985,809</span>).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> 50000000 0.001 The Meeting approved amendments to (i) every ten (10) shares of the Company’s ordinary share issued, par value of US$0.001, was consolidated into one (1) share of ordinary share, par value $0.01, and the authorized share capital of the Company was reduced from US$200,000 divided into 200,000,000 shares of a nominal or par value of US$0.0001 each to US$200,000 divided into 20,000,000 shares of a nominal or par value of US$0.01 each; (ii) increase the number of authorized Ordinary shares of the Company from US$200,000 divided into 20,000,000 shares of a nominal or par value of US$0.01 each to US$2,000,000 divided into 200,000,000 shares of a nominal or par value of US$0.01 each, by the creation of an additional 180,000,000 shares of a nominal or par value of US$0.01 each to rank pari passu in all respects with the existing shares in the capital of the Company. The Meeting approved amendments to (i) every 20 issued and unissued ordinary shares of a nominal or par value of US$0.01 each in the capital of the Company be consolidated into one (1) share of a nominal or par value of US$0.2 each such that following the Share Consolidation the authorized share capital of the Company will be changed from US$2,000,000 divided into 200,000,000 shares of a nominal or par value of US$0.01 each to US$2,000,000 divided into 10,000,000 shares of a nominal or par value of US$0.02 each; (ii) increase the authorized share capital of the Company from US$2,000,000 divided into 10,000,000 Consolidated Ordinary Shares of a nominal or par value of$0.2 each, to US$200,000,000 divided into 1,000,000,000 Consolidated Ordinary Shares of a nominal or par value of $0.2 each, by the creation of an additional 990,000,000 Consolidated Ordinary Shares. 800000000 6000000000 The share capital of the Company is US$6,000,000,000 divided into 1,000,000,000 shares comprising of (i) 800,000,000 Class A Ordinary Shares of a par value of US$6 each, and (ii) 200,000,000 Class B Ordinary Shares of a par value of US$6 each. There is no limit on the number of shares of any class which the Company is authorized to issue. Each Class A Ordinary Share shall be entitled to one (1) vote per Class A Ordinary Share and each Class B Ordinary Share shall be entitled to 20 votes per Class B Ordinary Share. 6000000000 the share capital of the Company is US$100 divided into 1,000,000,000 shares comprising of (i) 800,000,000 Class A Ordinary Shares of a par value of US$0.0000001 each, and (ii) 200,000,000 Class B Ordinary Shares of a par value of US$0.0000001 each. 417918 333333 11366 10503634 1162609 10941519 1495942 0.0000001 0.0000001 8152694 8354597 1188623 1419689 201903 28725 154533854 21985809 <p id="xdx_80D_ecustom--WarrantsTextBlock_z2jXHTjv9Kwk" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><b>Note 16 —<span id="xdx_826_zgf5nN7GuuWc"> Warrants</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><i>Public Warrants</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in"><span id="xdx_905_ecustom--WarrantsDescription_c20250101__20251231_zaYZF2LvQt4c" title="Warrants, description">Each public warrant entitles the holder thereof to purchase one-half (1/2) of one ordinary share at a price of $<span id="xdx_905_eus-gaap--SharesIssuedPricePerShare_c20251231__us-gaap--AwardTypeAxis__custom--PublicWarrantsMember_zYmFNOAm55y1" title="Price per share">11.50</span> per full share, subject to adjustment as described in this report.</span> Pursuant to the warrant agreement, a warrant holder may exercise its warrants only for a whole number of shares. This means that only an even number of warrants may be exercised at any given time by a warrant holder.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">No public warrants will be exercisable for cash unless the Company has an effective and current registration statement covering the Class A Ordinary shares issuable upon exercise of the warrants and a current prospectus relating to such Class A Ordinary shares. It is the Company’s current intention to have an effective and current registration statement covering the Class A Ordinary shares issuable upon exercise of the warrants and a current prospectus relating to such Class A Ordinary shares in effect promptly following consummation of an initial business combination.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Notwithstanding the foregoing, if a registration statement covering the Class A Ordinary shares issuable upon exercise of the public warrants is not effective within 90 days following the consummation of our initial business combination, public warrant holders may, until such time as there is an effective registration statement and during any period when we shall have failed to maintain an effective registration statement, exercise warrants on a cashless basis pursuant to an available exemption from registration under the Securities Act. In such event, each holder would pay the exercise price by surrendering the warrants for that number of Class A Ordinary shares equal to the quotient obtained by dividing (x) the product of the number of Class A Ordinary shares underlying the warrants, multiplied by the difference between the exercise price of the warrants and the “Fair Market Value” (defined below) by (y) the Fair Market Value. The “Fair Market Value” shall mean the average reported last sale price of the Class A Ordinary shares for the 10 trading days ending on the day prior to the date of exercise. For example, if a holder held 300 warrants to purchase 150 shares and the Fair Market Value on the date prior to exercise was $15.00, that holder would receive 35 shares without the payment of any additional cash consideration. If an exemption from registration is not available, holders will not be able to exercise their warrants on a cashless basis.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Warrants will become exercisable on the later of (a) the consummation of a Business Combination or (b) 12 months from the effective date of the registration statement relating to the IPO. The warrants will expire at 5:00 p.m., New York City time, on the fifth anniversary of our completion of an initial business combination, or earlier upon redemption.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company may redeem the outstanding warrants (including any outstanding warrants issued upon exercise of the unit purchase option issued to Ladenburg Thalmann &amp; Co., Inc.,), in whole and not in part, at a price of $0.01 per warrant:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">at any time while the Public Warrants are exercisable,</td> </tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">upon not less than 30 days’ prior written notice of redemption to each Public Warrant holder,</td> </tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">if, and only if, the reported last sale price of the Class A Ordinary shares equals or exceeds $18.00 per share, for any 20 trading days within a 20 trading day period ending on the third trading day prior to the notice of redemption to Public Warrant holders, and</td> </tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">if, and only if, there is a current registration statement in effect with respect to the issuance of the Class A Ordinary shares underlying such warrants at the time of redemption and for the entire 30-day trading period referred to above and continuing each day thereafter until the date of redemption.</td> </tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">If the foregoing conditions are satisfied and the Company would issue a notice of redemption, each warrant holder can exercise his, her or its warrant prior to the scheduled redemption date. However, the price of the Class A Ordinary shares may fall below the $18.00 trigger price as well as the $11.50 warrant exercise price per full share after the redemption notice is issued and not limit our ability to complete the redemption.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The redemption criteria for the warrants have been established at a price which is intended to provide warrant holders a reasonable premium to the initial exercise price and provide a sufficient differential between the then-prevailing share price and the warrant exercise price so that if the share price declines as a result of our redemption call, the redemption will not cause the share price to drop below the exercise price of the warrants.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">If the Company call the warrants for redemption as described above, our management will have the option to require all holders that wish to exercise warrants to do so on a “cashless basis.” In such event, each holder would pay the exercise price by surrendering the whole warrants for that number of Class A Ordinary shares equal to the quotient obtained by dividing (x) the product of the number of Class A Ordinary shares underlying the warrants, multiplied by the difference between the exercise price of the warrants and the “fair market value” (defined below) by (y) the fair market value. The “fair market value” shall mean the average reported last sale price of the Class A Ordinary shares for the 10 trading days ending on the third trading day prior to the date on which the notice of redemption is sent to the holders of warrants. Whether the Company will exercise our option to require all holders to exercise their warrants on a “cashless basis” will depend on a variety of factors including the price of our Class A Ordinary shares at the time the warrants are called for redemption, the Company’s cash needs at such time and concerns regarding dilutive share issuances.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><b>Private Warrants</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Simultaneously with the closing of the Initial Public Offering, the Company consummated a private placement of <span id="xdx_907_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250101__20251231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zstybcQn7TB7" title="Sale of units">225,000</span> Private Units at $<span id="xdx_907_eus-gaap--SharesIssuedPricePerShare_c20251231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zPtSioavi8D6" title="Price per share">10.0 </span>per unit, purchased by the sponsor. The Private Units are identical to the units sold in the Initial Public Offering except that the warrants included in the Private Units (the “Private Warrants”) and the Class A Ordinary shares issuable upon the exercise of the Private Warrants will not be transferable, assignable or saleable until after the completion of a Business Combination, subject to certain limited exceptions. Additionally, the Private Warrants will be exercisable on a cashless basis and will be non-redeemable so long as they are held by the initial purchasers or their permitted transferees. If the Private Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The private warrants are accounted for as liabilities in accordance with ASC 815-40 and are presented within warrant liabilities on the balance sheets. The warrants were classified as Level 3 at the initial measurement date due to the use of unobservable inputs.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company established the initial fair value for the private warrants at $<span id="xdx_90E_ecustom--AggregateValueOfWarrants_c20210211_pp0p0" title="Aggregate value of warrants">380,000</span> on February 11, 2021, the date of the Company’s Initial Public Offering, using a Black-Scholes model. The Company allocated the proceeds received from the sale of Private Units, first to the private warrants based on their fair values as determined at initial measurement, with the remaining proceeds recorded as Class A Ordinary shares subject to possible redemption, and Class A Ordinary shares based on their relative fair values recorded at the initial measurement date. The warrants were classified as Level 3 at the initial measurement date due to the use of unobservable inputs.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The key inputs into the Black-Scholes model were as follows at their following measurement dates:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_88F_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zvlWi9VqphC5" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Warrants (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8B6_zLVPCgiFY3n8" style="display: none">Schedule of black-scholes model</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 09, <br/>2022</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2023</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>December 31,<br/> 2025</b></td> <td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>RMB</b></td> <td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Input</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 40%; text-align: left">Share price</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right"><span id="xdx_905_eus-gaap--SharePrice_iI_uUSDPShares_c20221209__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_z3YbiSVf7zp7" title="Share price">10.47</span></td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right"><span id="xdx_90C_eus-gaap--SharePrice_iI_uUSDPShares_c20231231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zmOm0o7Qml7" title="Share price">0.91</span></td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right"><span id="xdx_906_eus-gaap--SharePrice_iI_uRMBPShares_c20241231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zwU7VHTZpRMk" title="Share price">3.76</span></td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right"><span id="xdx_905_eus-gaap--SharePrice_iI_uUSDPShares_c20251231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zjVnaWSyr3w3" title="Share price">4.42</span></td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="text-align: right; width: 9%"><span id="xdx_904_eus-gaap--SharePrice_iI_uRMBPShares_c20251231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zZoPT0LymnFl" title="Share price">31.07</span></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Risk-free interest rate</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_c20221201__20221209__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zJST1KQMl3mb" title="Risk-free interest rate">3.8</span></td> <td style="text-align: left">%</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_c20230101__20231231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_z9f18nDAuzjh" title="Risk-free interest rate">3.95</span></td> <td style="text-align: left">%</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_z4mHYMZOWwYe" title="Risk-free interest rate">4.26</span></td> <td style="text-align: left">%</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_c20250101__20251231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_z11RGfcVz0M1" title="Risk-free interest rate">3.47</span></td> <td style="text-align: left">%</td> <td> </td> <td> </td> <td style="text-align: right"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_c20250101__20251231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zNw4zsqT01X6" title="Risk-free interest rate">3.47</span></td> <td>%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Volatility</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_c20221201__20221209__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zH2uYyBblgt8" title="Volatility">5.7</span></td> <td style="text-align: left">%</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_c20230101__20231231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zXrQod6nWsR9" title="Volatility">5.7</span></td> <td style="text-align: left">%</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zMMEgB98e559" title="Volatility">59.5</span></td> <td style="text-align: left">%</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_c20250101__20251231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_z6ldy0Nn9png" title="Volatility">52.79</span></td> <td style="text-align: left">%</td> <td> </td> <td> </td> <td style="text-align: right"><span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_c20250101__20251231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zOQPKNVsJAn" title="Volatility">52.79</span></td> <td>%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Exercise price</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_uUSDPShares_c20221209__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zak3PNUeiIik" title="Exercise price">11.50</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_uUSDPShares_c20231231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zopG9vM4J5J7" title="Exercise price">11.50</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_uRMBPShares_c20241231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_z0YOk1ASCny" title="Exercise price">2,300.00</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_uUSDPShares_c20251231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zW5nbl7llXyf" title="Exercise price">69,000.00</span></td> <td style="text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_uRMBPShares_c20251231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zmmGFbWnVTwe" title="Exercise price">484,987.20</span></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Warrant life (yr)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90E_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20221209__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_z4yN1ggqh1tj" title="Warrant life">4.97</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_904_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20231231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_ztYkdAFB9Hpg" title="Warrant life">3.92</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_909_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20241231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zgeFZaMf03Fc" title="Warrant life">2.92</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90F_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20251231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zfb1HcLIe13" title="Warrant life">1.92</span></td> <td style="text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"><span id="xdx_907_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20251231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zkzP8cUQLYMe" title="Warrant life">1.92</span></td> <td> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">As of December 9, 2022, the aggregate value of the private warrants was $<span id="xdx_90B_ecustom--AggregateValueOfWarrants_iI_uUSD_c20221209_z2n0IB5xKUyh">123,750</span>. The change in fair value from January 1, 2022 to December 9, 2022 was approximately $300,000 was included in the historical retained earnings (accumulated deficits) of Venus. The fair value of the warrants on December 31, 2023, 2024 and 2025 were nil, mainly due to the high exercise price comparing to actual share price.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> Each public warrant entitles the holder thereof to purchase one-half (1/2) of one ordinary share at a price of $11.50 per full share, subject to adjustment as described in this report. 11.50 225000 10.0 380000 <table cellpadding="0" cellspacing="0" id="xdx_88F_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zvlWi9VqphC5" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Warrants (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8B6_zLVPCgiFY3n8" style="display: none">Schedule of black-scholes model</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 09, <br/>2022</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2023</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>December 31,<br/> 2025</b></td> <td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>RMB</b></td> <td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Input</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 40%; text-align: left">Share price</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right"><span id="xdx_905_eus-gaap--SharePrice_iI_uUSDPShares_c20221209__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_z3YbiSVf7zp7" title="Share price">10.47</span></td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right"><span id="xdx_90C_eus-gaap--SharePrice_iI_uUSDPShares_c20231231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zmOm0o7Qml7" title="Share price">0.91</span></td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right"><span id="xdx_906_eus-gaap--SharePrice_iI_uRMBPShares_c20241231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zwU7VHTZpRMk" title="Share price">3.76</span></td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right"><span id="xdx_905_eus-gaap--SharePrice_iI_uUSDPShares_c20251231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zjVnaWSyr3w3" title="Share price">4.42</span></td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="text-align: right; width: 9%"><span id="xdx_904_eus-gaap--SharePrice_iI_uRMBPShares_c20251231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zZoPT0LymnFl" title="Share price">31.07</span></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Risk-free interest rate</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_c20221201__20221209__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zJST1KQMl3mb" title="Risk-free interest rate">3.8</span></td> <td style="text-align: left">%</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_c20230101__20231231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_z9f18nDAuzjh" title="Risk-free interest rate">3.95</span></td> <td style="text-align: left">%</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_z4mHYMZOWwYe" title="Risk-free interest rate">4.26</span></td> <td style="text-align: left">%</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_c20250101__20251231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_z11RGfcVz0M1" title="Risk-free interest rate">3.47</span></td> <td style="text-align: left">%</td> <td> </td> <td> </td> <td style="text-align: right"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_c20250101__20251231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zNw4zsqT01X6" title="Risk-free interest rate">3.47</span></td> <td>%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Volatility</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_c20221201__20221209__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zH2uYyBblgt8" title="Volatility">5.7</span></td> <td style="text-align: left">%</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_c20230101__20231231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zXrQod6nWsR9" title="Volatility">5.7</span></td> <td style="text-align: left">%</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zMMEgB98e559" title="Volatility">59.5</span></td> <td style="text-align: left">%</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_c20250101__20251231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_z6ldy0Nn9png" title="Volatility">52.79</span></td> <td style="text-align: left">%</td> <td> </td> <td> </td> <td style="text-align: right"><span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_c20250101__20251231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zOQPKNVsJAn" title="Volatility">52.79</span></td> <td>%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Exercise price</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_uUSDPShares_c20221209__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zak3PNUeiIik" title="Exercise price">11.50</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_uUSDPShares_c20231231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zopG9vM4J5J7" title="Exercise price">11.50</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_uRMBPShares_c20241231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_z0YOk1ASCny" title="Exercise price">2,300.00</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_uUSDPShares_c20251231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zW5nbl7llXyf" title="Exercise price">69,000.00</span></td> <td style="text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_uRMBPShares_c20251231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zmmGFbWnVTwe" title="Exercise price">484,987.20</span></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Warrant life (yr)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90E_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20221209__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_z4yN1ggqh1tj" title="Warrant life">4.97</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_904_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20231231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_ztYkdAFB9Hpg" title="Warrant life">3.92</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_909_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20241231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zgeFZaMf03Fc" title="Warrant life">2.92</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90F_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20251231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zfb1HcLIe13" title="Warrant life">1.92</span></td> <td style="text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"><span id="xdx_907_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20251231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zkzP8cUQLYMe" title="Warrant life">1.92</span></td> <td> </td></tr> </table> 10.47 0.91 3.76 4.42 31.07 0.038 0.0395 0.0426 0.0347 0.0347 0.057 0.057 0.595 0.5279 0.5279 11.50 11.50 2300.00 69000.00 484987.20 P4Y11M19D P3Y11M1D P2Y11M1D P1Y11M1D P1Y11M1D 123750 <p id="xdx_809_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zPC7HsXL5Nla" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><b>Note 17 — <span id="xdx_82F_zGBEh2LEmZVl">Commitments and contingencies</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="text-decoration: underline">Contingencies</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">From time to time, the Company is involved in claims and legal proceedings that arise in the ordinary course of business. Based on currently available information, management does not believe that the ultimate outcome of any unresolved matters, individually and in the aggregate, is reasonably possible to have a material adverse effect on the Company’s financial position, results of operations or cash flows.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">However, litigation is subject to inherent uncertainties and the Company’s view of these matters may change in the future. The Company records a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. The Company reviews the need for any such liability on a regular basis. The Company has not recorded material liabilities in this regard as of December 31, 2024 and 2025, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p id="xdx_80E_eus-gaap--SegmentReportingDisclosureTextBlock_z5vD9wwvgNt3" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><b>Note 18 — <span id="xdx_827_zlL16UMWtS8d">Segments</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">ASC 280, “Segment Reporting”, establishes standards for reporting financial information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in financial statements for detailing the Company’s business segments.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company’s chief operating decision maker (CODM) is the Chief Executive Officer, who reviews the above financial information of the separate operating segments when making decisions about allocating resources and assessing the performance of the group. The Company has determined that it has one operating segment, which is provided central processing algorithm services and intelligent chips and services. There were no significant segment expenses that were regularly provided to the CODM for the year ended December 31, 2025.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The following tables present summary information by segment for the years ended December 31, 2023, 2024 and 2025:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <table cellpadding="0" cellspacing="0" id="xdx_894_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zUykPsAIKKQ2" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Segments (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8BE_z0ok9t2P0sqi" style="display: none">Schedule of segments</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>Central</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>processing</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>algorithm</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>services </b></p></td> <td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>Intelligent</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>chips and</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>services</b></p></td> <td style="padding-bottom: 1pt"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total <br/>December 31, <br/>2023</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">Revenues</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_981_eus-gaap--Revenues_pp0p0_c20230101__20231231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_ztGLVCxpr66d" style="width: 9%; text-align: right" title="Revenues">569,906,586</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_981_eus-gaap--Revenues_pp0p0_c20230101__20231231__us-gaap--StatementBusinessSegmentsAxis__custom--IntelligentChipsAndServicesMember_zCUotMPJNaoj" style="width: 9%; text-align: right" title="Revenues">10,109,828</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_981_eus-gaap--Revenues_pp0p0_c20230101__20231231_z01xByqbqZg2" style="width: 9%; text-align: right" title="Revenues">580,016,414</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Cost of revenues</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98B_eus-gaap--CostOfRevenue_pp0p0_c20230101__20231231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_zlM3U3dFHKNl" style="text-align: right" title="Cost of revenues">395,959,074</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_988_eus-gaap--CostOfRevenue_pp0p0_c20230101__20231231__us-gaap--StatementBusinessSegmentsAxis__custom--IntelligentChipsAndServicesMember_zi0pvyd9faSh" style="text-align: right" title="Cost of revenues">10,067,646</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_989_eus-gaap--CostOfRevenue_pp0p0_c20230101__20231231_zcTK9Uiiq5E5" style="text-align: right" title="Cost of revenues">406,026,720</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Gross profit</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_988_eus-gaap--GrossProfit_pp0p0_c20230101__20231231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_zKKiXhPWxVEh" style="text-align: right" title="Gross profit">173,947,512</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_983_eus-gaap--GrossProfit_pp0p0_c20230101__20231231__us-gaap--StatementBusinessSegmentsAxis__custom--IntelligentChipsAndServicesMember_zR1QZJpMn4y8" style="text-align: right" title="Gross profit">42,182</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_983_eus-gaap--GrossProfit_pp0p0_c20230101__20231231_zQjlj7NMGmKf" style="text-align: right" title="Gross profit">173,989,694</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Depreciation and amortization</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98B_eus-gaap--DepreciationAndAmortization_pp0p0_c20230101__20231231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_ztEZtEjDWDq3" style="text-align: right" title="Depreciation and amortization">6,774,207</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98A_eus-gaap--DepreciationAndAmortization_pp0p0_c20230101__20231231__us-gaap--StatementBusinessSegmentsAxis__custom--IntelligentChipsAndServicesMember_znETrez8Iae5" style="text-align: right" title="Depreciation and amortization">406,754</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_984_eus-gaap--DepreciationAndAmortization_pp0p0_c20230101__20231231_z5dAcvKbFAEk" style="text-align: right" title="Depreciation and amortization">7,180,961</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Total capital expenditures</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_982_eus-gaap--PaymentsToAcquireProductiveAssets_pp0p0_c20230101__20231231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_zoAZtqBDnmNk" style="text-align: right" title="Total capital expenditures">72,139</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_982_eus-gaap--PaymentsToAcquireProductiveAssets_pp0p0_c20230101__20231231__us-gaap--StatementBusinessSegmentsAxis__custom--IntelligentChipsAndServicesMember_z6IZPYw1ym2g" style="text-align: right" title="Total capital expenditures"><span style="-sec-ix-hidden: xdx2ixbrl2108">-</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98A_eus-gaap--PaymentsToAcquireProductiveAssets_pp0p0_c20230101__20231231_zbwQOdO0pgy1" style="text-align: right" title="Total capital expenditures">72,139</td> <td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>Central</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>processing</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>algorithm</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>services </b></p></td> <td style="padding-bottom: 1pt"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total <br/>December 31, <br/>2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 76%; text-align: left">Revenues</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_989_eus-gaap--Revenues_pp0p0_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_zWaiDpvQphTj" style="width: 9%; text-align: right" title="Revenues">541,487,420</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98E_eus-gaap--Revenues_pp0p0_c20240101__20241231_zMDCNZKULszc" style="width: 9%; text-align: right" title="Revenues">541,487,420</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Cost of revenues</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_980_eus-gaap--CostOfRevenue_pp0p0_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_zcGCQSa0ne9h" style="text-align: right" title="Cost of revenues">387,719,164</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98E_eus-gaap--CostOfRevenue_pp0p0_c20240101__20241231_zZXFAEN1SeRc" style="text-align: right" title="Cost of revenues">387,719,164</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Gross profit</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98A_ecustom--GrossProfits_pp0p0_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_z79VVT0muhfd" style="text-align: right" title="Gross profit">153,768,256</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98B_ecustom--GrossProfits_pp0p0_c20240101__20241231_zGNWorYFr9t9" style="text-align: right" title="Gross profit">153,768,256</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Depreciation and amortization</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_985_eus-gaap--DepreciationAndAmortization_pp0p0_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_zXCcuqzvPJLd" style="text-align: right" title="Depreciation and amortization">1,289,020</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_984_eus-gaap--DepreciationAndAmortization_pp0p0_c20240101__20241231_zgT7zVY5mmY3" style="text-align: right" title="Depreciation and amortization">1,289,020</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Total capital expenditures</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_985_eus-gaap--PaymentsToAcquireProductiveAssets_pp0p0_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_z6dJ38d7Cse9" style="text-align: right" title="Total capital expenditures">28,641</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_986_eus-gaap--PaymentsToAcquireProductiveAssets_pp0p0_c20240101__20241231_z0WI2xq1fFQi" style="text-align: right" title="Total capital expenditures">28,641</td> <td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>Central</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>processing</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>algorithm</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>services </b></p></td> <td style="padding-bottom: 1pt"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total <br/>December 31, <br/>2025</td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>USD</b></td> <td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">Revenues</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_983_eus-gaap--Revenues_pp0p0_c20250101__20251231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_zsvMqpuZwudj" style="width: 9%; text-align: right" title="Revenues">422,045,319</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_982_eus-gaap--Revenues_pp0p0_c20250101__20251231_zqgnNoNTD5B" style="width: 9%; text-align: right" title="Revenues">422,045,319</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_980_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231_zKUyDfBa3Uu" style="text-align: right; width: 9%" title="Revenues">60,045,146</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Cost of revenues</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_980_eus-gaap--CostOfRevenue_pp0p0_c20250101__20251231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_zQaer7RzHj3g" style="text-align: right" title="Revenues">313,222,200</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_988_eus-gaap--CostOfRevenue_pp0p0_c20250101__20251231_z47to4IH9nxi" style="text-align: right" title="Revenues">313,222,200</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td id="xdx_982_eus-gaap--CostOfRevenue_pp0p0_uUSD_c20250101__20251231_zwm3hOjfHwH2" style="text-align: right" title="Revenues">44,562,685</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Gross profit</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98B_ecustom--GrossProfits_pp0p0_c20250101__20251231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_zvzFeq3oheR9" style="text-align: right" title="Gross profit">108,823,119</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_987_ecustom--GrossProfits_pp0p0_c20250101__20251231_zM0TbESDY5Y3" style="text-align: right" title="Gross profit">108,823,119</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td id="xdx_988_ecustom--GrossProfits_pp0p0_uUSD_c20250101__20251231_zmC3lImIXRXb" style="text-align: right" title="Gross profit">15,482,461</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Depreciation and amortization</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_980_eus-gaap--DepreciationAndAmortization_pp0p0_c20250101__20251231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_z0YNky53mcfb" style="text-align: right" title="Revenues">1,385,364</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_987_eus-gaap--DepreciationAndAmortization_pp0p0_c20250101__20251231_ztGktubTAnq4" style="text-align: right" title="Revenues">1,385,364</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td id="xdx_985_eus-gaap--DepreciationAndAmortization_pp0p0_uUSD_c20250101__20251231_zUY21HILOT5c" style="text-align: right" title="Revenues">197,098</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Total capital expenditures</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_982_eus-gaap--PaymentsToAcquireProductiveAssets_pp0p0_c20250101__20251231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_z6uUetXZuDk4" style="text-align: right" title="Revenues">8,149</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98A_eus-gaap--PaymentsToAcquireProductiveAssets_pp0p0_c20250101__20251231_zERwpchkr3o3" style="text-align: right" title="Revenues">8,149</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td id="xdx_98D_eus-gaap--PaymentsToAcquireProductiveAssets_pp0p0_uUSD_c20250101__20251231_zBGpIuB0he0g" style="text-align: right" title="Revenues">1,159</td> <td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Total assets as of:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/>2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/>2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/>2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">Central processing algorithm services</td> <td style="padding-bottom: 1pt; width: 1%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td> <td id="xdx_989_eus-gaap--OtherAssets_iI_pp0p0_c20241231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_zGug0MDGVK75" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Total Assets">1,267,134,187</td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td> <td style="padding-bottom: 1pt; width: 1%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td> <td id="xdx_984_eus-gaap--OtherAssets_iI_pp0p0_c20251231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_zvLlXZ18Wa11" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Total Assets">2,462,524,963</td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td> <td style="padding-bottom: 1pt; width: 1%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td> <td id="xdx_98D_eus-gaap--OtherAssets_iI_pp0p0_uUSD_c20251231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_zPmBJD52eJK5" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Total Assets">350,347,850</td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Total assets</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_980_eus-gaap--OtherAssets_iI_pp0p0_c20241231_z1MC95xA6809" style="border-bottom: Black 2.5pt double; text-align: right" title="Total Assets">1,267,134,187</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_989_eus-gaap--OtherAssets_iI_pp0p0_c20251231_zz0zgycwziBc" style="border-bottom: Black 2.5pt double; text-align: right" title="Total Assets">2,462,524,963</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_980_eus-gaap--OtherAssets_iI_pp0p0_uUSD_c20251231_zgJWV8Ji0LA1" style="border-bottom: Black 2.5pt double; text-align: right" title="Total Assets">350,347,850</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A9_zVVFovSCxe6e" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">The Company’s operations are primarily based in the mainland PRC, Hong Kong and international, where the Company derives a substantial portion of their revenues. Management also reviews consolidated financial results by business locations. Disaggregated information of revenues by geographic locations are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_89E_eus-gaap--DisaggregationOfRevenueTableTextBlock_zsIOxakvvYTc" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Segments (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8B8_zhdBhzBWYVBk" style="display: none">Schedule of disaggregation</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the<br/> year ended <br/>December 31, <br/>2023</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the<br/> year ended <br/>December 31, <br/>2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the<br/> year ended <br/>December 31, <br/>2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the<br/> year ended <br/>December 31, <br/>2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 52%; text-align: left">Mainland PRC revenues</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_984_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20230101__20231231__srt--StatementGeographicalAxis__custom--MainlandPRCMember_zyrKsuLksr0l" style="width: 9%; text-align: right" title="Total revenues">540,294,309</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20240101__20241231__srt--StatementGeographicalAxis__custom--MainlandPRCMember_zFgi3uvz1Yb8" style="width: 9%; text-align: right" title="Total revenues">414,763,523</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20250101__20251231__srt--StatementGeographicalAxis__custom--MainlandPRCMember_zfWP3JD50SA1" style="width: 9%; text-align: right" title="Total revenues">284,699,784</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_uUSD_c20250101__20251231__srt--StatementGeographicalAxis__custom--MainlandPRCMember_zBcajEoG1pQa" style="width: 9%; text-align: right" title="Total revenues">40,504,749</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Hong Kong revenues</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20230101__20231231__srt--StatementGeographicalAxis__country--HK_zZUeokZrsUXj" style="text-align: right" title="Total revenues">29,612,277</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20240101__20241231__srt--StatementGeographicalAxis__country--HK_zTXiO2DJVdzf" style="text-align: right" title="Total revenues">126,723,897</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_987_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20250101__20251231__srt--StatementGeographicalAxis__country--HK_zkZ3Y5p6y4r5" style="text-align: right" title="Total revenues">137,345,535</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_984_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_uUSD_c20250101__20251231__srt--StatementGeographicalAxis__country--HK_z9RIrPc1S9E2" style="text-align: right" title="Total revenues">19,540,397</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">International revenues</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_984_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20230101__20231231__srt--StatementGeographicalAxis__custom--InternationalMember_zyFEL2ZnkfS" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues">10,109,828</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20240101__20241231__srt--StatementGeographicalAxis__custom--InternationalMember_zY4fz4FylbHb" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues"><span style="-sec-ix-hidden: xdx2ixbrl2195">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20250101__20251231__srt--StatementGeographicalAxis__custom--InternationalMember_zldJYaU5O3Bj" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues"><span style="-sec-ix-hidden: xdx2ixbrl2197">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_984_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_uUSD_c20250101__20251231__srt--StatementGeographicalAxis__custom--InternationalMember_zuaXHXS5Tued" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues"><span style="-sec-ix-hidden: xdx2ixbrl2199">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt">Total revenues</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_987_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20230101__20231231_zuRSMOZqRqj4" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">580,016,414</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20240101__20241231_zMUyybkUnILj" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">541,487,420</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20250101__20251231_zdIafgyApqBc" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">422,045,319</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_989_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_uUSD_c20250101__20251231_zAt9CMxkR8hi" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">60,045,146</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AB_zSrf3wjAS2u1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_894_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zUykPsAIKKQ2" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Segments (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8BE_z0ok9t2P0sqi" style="display: none">Schedule of segments</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>Central</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>processing</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>algorithm</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>services </b></p></td> <td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>Intelligent</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>chips and</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>services</b></p></td> <td style="padding-bottom: 1pt"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total <br/>December 31, <br/>2023</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">Revenues</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_981_eus-gaap--Revenues_pp0p0_c20230101__20231231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_ztGLVCxpr66d" style="width: 9%; text-align: right" title="Revenues">569,906,586</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_981_eus-gaap--Revenues_pp0p0_c20230101__20231231__us-gaap--StatementBusinessSegmentsAxis__custom--IntelligentChipsAndServicesMember_zCUotMPJNaoj" style="width: 9%; text-align: right" title="Revenues">10,109,828</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_981_eus-gaap--Revenues_pp0p0_c20230101__20231231_z01xByqbqZg2" style="width: 9%; text-align: right" title="Revenues">580,016,414</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Cost of revenues</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98B_eus-gaap--CostOfRevenue_pp0p0_c20230101__20231231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_zlM3U3dFHKNl" style="text-align: right" title="Cost of revenues">395,959,074</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_988_eus-gaap--CostOfRevenue_pp0p0_c20230101__20231231__us-gaap--StatementBusinessSegmentsAxis__custom--IntelligentChipsAndServicesMember_zi0pvyd9faSh" style="text-align: right" title="Cost of revenues">10,067,646</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_989_eus-gaap--CostOfRevenue_pp0p0_c20230101__20231231_zcTK9Uiiq5E5" style="text-align: right" title="Cost of revenues">406,026,720</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Gross profit</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_988_eus-gaap--GrossProfit_pp0p0_c20230101__20231231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_zKKiXhPWxVEh" style="text-align: right" title="Gross profit">173,947,512</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_983_eus-gaap--GrossProfit_pp0p0_c20230101__20231231__us-gaap--StatementBusinessSegmentsAxis__custom--IntelligentChipsAndServicesMember_zR1QZJpMn4y8" style="text-align: right" title="Gross profit">42,182</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_983_eus-gaap--GrossProfit_pp0p0_c20230101__20231231_zQjlj7NMGmKf" style="text-align: right" title="Gross profit">173,989,694</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Depreciation and amortization</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98B_eus-gaap--DepreciationAndAmortization_pp0p0_c20230101__20231231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_ztEZtEjDWDq3" style="text-align: right" title="Depreciation and amortization">6,774,207</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98A_eus-gaap--DepreciationAndAmortization_pp0p0_c20230101__20231231__us-gaap--StatementBusinessSegmentsAxis__custom--IntelligentChipsAndServicesMember_znETrez8Iae5" style="text-align: right" title="Depreciation and amortization">406,754</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_984_eus-gaap--DepreciationAndAmortization_pp0p0_c20230101__20231231_z5dAcvKbFAEk" style="text-align: right" title="Depreciation and amortization">7,180,961</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Total capital expenditures</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_982_eus-gaap--PaymentsToAcquireProductiveAssets_pp0p0_c20230101__20231231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_zoAZtqBDnmNk" style="text-align: right" title="Total capital expenditures">72,139</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_982_eus-gaap--PaymentsToAcquireProductiveAssets_pp0p0_c20230101__20231231__us-gaap--StatementBusinessSegmentsAxis__custom--IntelligentChipsAndServicesMember_z6IZPYw1ym2g" style="text-align: right" title="Total capital expenditures"><span style="-sec-ix-hidden: xdx2ixbrl2108">-</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98A_eus-gaap--PaymentsToAcquireProductiveAssets_pp0p0_c20230101__20231231_zbwQOdO0pgy1" style="text-align: right" title="Total capital expenditures">72,139</td> <td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>Central</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>processing</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>algorithm</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>services </b></p></td> <td style="padding-bottom: 1pt"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total <br/>December 31, <br/>2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 76%; text-align: left">Revenues</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_989_eus-gaap--Revenues_pp0p0_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_zWaiDpvQphTj" style="width: 9%; text-align: right" title="Revenues">541,487,420</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98E_eus-gaap--Revenues_pp0p0_c20240101__20241231_zMDCNZKULszc" style="width: 9%; text-align: right" title="Revenues">541,487,420</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Cost of revenues</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_980_eus-gaap--CostOfRevenue_pp0p0_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_zcGCQSa0ne9h" style="text-align: right" title="Cost of revenues">387,719,164</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98E_eus-gaap--CostOfRevenue_pp0p0_c20240101__20241231_zZXFAEN1SeRc" style="text-align: right" title="Cost of revenues">387,719,164</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Gross profit</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98A_ecustom--GrossProfits_pp0p0_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_z79VVT0muhfd" style="text-align: right" title="Gross profit">153,768,256</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98B_ecustom--GrossProfits_pp0p0_c20240101__20241231_zGNWorYFr9t9" style="text-align: right" title="Gross profit">153,768,256</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Depreciation and amortization</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_985_eus-gaap--DepreciationAndAmortization_pp0p0_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_zXCcuqzvPJLd" style="text-align: right" title="Depreciation and amortization">1,289,020</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_984_eus-gaap--DepreciationAndAmortization_pp0p0_c20240101__20241231_zgT7zVY5mmY3" style="text-align: right" title="Depreciation and amortization">1,289,020</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Total capital expenditures</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_985_eus-gaap--PaymentsToAcquireProductiveAssets_pp0p0_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_z6dJ38d7Cse9" style="text-align: right" title="Total capital expenditures">28,641</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_986_eus-gaap--PaymentsToAcquireProductiveAssets_pp0p0_c20240101__20241231_z0WI2xq1fFQi" style="text-align: right" title="Total capital expenditures">28,641</td> <td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>Central</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>processing</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>algorithm</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: center"><b>services </b></p></td> <td style="padding-bottom: 1pt"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total <br/>December 31, <br/>2025</td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>USD</b></td> <td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">Revenues</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_983_eus-gaap--Revenues_pp0p0_c20250101__20251231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_zsvMqpuZwudj" style="width: 9%; text-align: right" title="Revenues">422,045,319</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_982_eus-gaap--Revenues_pp0p0_c20250101__20251231_zqgnNoNTD5B" style="width: 9%; text-align: right" title="Revenues">422,045,319</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_980_eus-gaap--Revenues_pp0p0_uUSD_c20250101__20251231_zKUyDfBa3Uu" style="text-align: right; width: 9%" title="Revenues">60,045,146</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Cost of revenues</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_980_eus-gaap--CostOfRevenue_pp0p0_c20250101__20251231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_zQaer7RzHj3g" style="text-align: right" title="Revenues">313,222,200</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_988_eus-gaap--CostOfRevenue_pp0p0_c20250101__20251231_z47to4IH9nxi" style="text-align: right" title="Revenues">313,222,200</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td id="xdx_982_eus-gaap--CostOfRevenue_pp0p0_uUSD_c20250101__20251231_zwm3hOjfHwH2" style="text-align: right" title="Revenues">44,562,685</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Gross profit</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98B_ecustom--GrossProfits_pp0p0_c20250101__20251231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_zvzFeq3oheR9" style="text-align: right" title="Gross profit">108,823,119</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_987_ecustom--GrossProfits_pp0p0_c20250101__20251231_zM0TbESDY5Y3" style="text-align: right" title="Gross profit">108,823,119</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td id="xdx_988_ecustom--GrossProfits_pp0p0_uUSD_c20250101__20251231_zmC3lImIXRXb" style="text-align: right" title="Gross profit">15,482,461</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Depreciation and amortization</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_980_eus-gaap--DepreciationAndAmortization_pp0p0_c20250101__20251231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_z0YNky53mcfb" style="text-align: right" title="Revenues">1,385,364</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_987_eus-gaap--DepreciationAndAmortization_pp0p0_c20250101__20251231_ztGktubTAnq4" style="text-align: right" title="Revenues">1,385,364</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td id="xdx_985_eus-gaap--DepreciationAndAmortization_pp0p0_uUSD_c20250101__20251231_zUY21HILOT5c" style="text-align: right" title="Revenues">197,098</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Total capital expenditures</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_982_eus-gaap--PaymentsToAcquireProductiveAssets_pp0p0_c20250101__20251231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_z6uUetXZuDk4" style="text-align: right" title="Revenues">8,149</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98A_eus-gaap--PaymentsToAcquireProductiveAssets_pp0p0_c20250101__20251231_zERwpchkr3o3" style="text-align: right" title="Revenues">8,149</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td style="text-align: left"> </td> <td id="xdx_98D_eus-gaap--PaymentsToAcquireProductiveAssets_pp0p0_uUSD_c20250101__20251231_zBGpIuB0he0g" style="text-align: right" title="Revenues">1,159</td> <td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.25in">Total assets as of:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/>2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/>2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/>2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">Central processing algorithm services</td> <td style="padding-bottom: 1pt; width: 1%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td> <td id="xdx_989_eus-gaap--OtherAssets_iI_pp0p0_c20241231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_zGug0MDGVK75" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Total Assets">1,267,134,187</td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td> <td style="padding-bottom: 1pt; width: 1%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td> <td id="xdx_984_eus-gaap--OtherAssets_iI_pp0p0_c20251231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_zvLlXZ18Wa11" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Total Assets">2,462,524,963</td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td> <td style="padding-bottom: 1pt; width: 1%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td> <td id="xdx_98D_eus-gaap--OtherAssets_iI_pp0p0_uUSD_c20251231__us-gaap--StatementBusinessSegmentsAxis__custom--CentralProcessingAlgorithmServicesMember_zPmBJD52eJK5" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Total Assets">350,347,850</td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Total assets</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_980_eus-gaap--OtherAssets_iI_pp0p0_c20241231_z1MC95xA6809" style="border-bottom: Black 2.5pt double; text-align: right" title="Total Assets">1,267,134,187</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_989_eus-gaap--OtherAssets_iI_pp0p0_c20251231_zz0zgycwziBc" style="border-bottom: Black 2.5pt double; text-align: right" title="Total Assets">2,462,524,963</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_980_eus-gaap--OtherAssets_iI_pp0p0_uUSD_c20251231_zgJWV8Ji0LA1" style="border-bottom: Black 2.5pt double; text-align: right" title="Total Assets">350,347,850</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 569906586 10109828 580016414 395959074 10067646 406026720 173947512 42182 173989694 6774207 406754 7180961 72139 72139 541487420 541487420 387719164 387719164 153768256 153768256 1289020 1289020 28641 28641 422045319 422045319 60045146 313222200 313222200 44562685 108823119 108823119 15482461 1385364 1385364 197098 8149 8149 1159 1267134187 2462524963 350347850 1267134187 2462524963 350347850 <table cellpadding="0" cellspacing="0" id="xdx_89E_eus-gaap--DisaggregationOfRevenueTableTextBlock_zsIOxakvvYTc" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Segments (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8B8_zhdBhzBWYVBk" style="display: none">Schedule of disaggregation</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the<br/> year ended <br/>December 31, <br/>2023</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the<br/> year ended <br/>December 31, <br/>2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the<br/> year ended <br/>December 31, <br/>2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the<br/> year ended <br/>December 31, <br/>2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 52%; text-align: left">Mainland PRC revenues</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_984_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20230101__20231231__srt--StatementGeographicalAxis__custom--MainlandPRCMember_zyrKsuLksr0l" style="width: 9%; text-align: right" title="Total revenues">540,294,309</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20240101__20241231__srt--StatementGeographicalAxis__custom--MainlandPRCMember_zFgi3uvz1Yb8" style="width: 9%; text-align: right" title="Total revenues">414,763,523</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20250101__20251231__srt--StatementGeographicalAxis__custom--MainlandPRCMember_zfWP3JD50SA1" style="width: 9%; text-align: right" title="Total revenues">284,699,784</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_98E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_uUSD_c20250101__20251231__srt--StatementGeographicalAxis__custom--MainlandPRCMember_zBcajEoG1pQa" style="width: 9%; text-align: right" title="Total revenues">40,504,749</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Hong Kong revenues</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20230101__20231231__srt--StatementGeographicalAxis__country--HK_zZUeokZrsUXj" style="text-align: right" title="Total revenues">29,612,277</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20240101__20241231__srt--StatementGeographicalAxis__country--HK_zTXiO2DJVdzf" style="text-align: right" title="Total revenues">126,723,897</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_987_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20250101__20251231__srt--StatementGeographicalAxis__country--HK_zkZ3Y5p6y4r5" style="text-align: right" title="Total revenues">137,345,535</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_984_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_uUSD_c20250101__20251231__srt--StatementGeographicalAxis__country--HK_z9RIrPc1S9E2" style="text-align: right" title="Total revenues">19,540,397</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">International revenues</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_984_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20230101__20231231__srt--StatementGeographicalAxis__custom--InternationalMember_zyFEL2ZnkfS" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues">10,109,828</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20240101__20241231__srt--StatementGeographicalAxis__custom--InternationalMember_zY4fz4FylbHb" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues"><span style="-sec-ix-hidden: xdx2ixbrl2195">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20250101__20251231__srt--StatementGeographicalAxis__custom--InternationalMember_zldJYaU5O3Bj" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues"><span style="-sec-ix-hidden: xdx2ixbrl2197">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_984_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_uUSD_c20250101__20251231__srt--StatementGeographicalAxis__custom--InternationalMember_zuaXHXS5Tued" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenues"><span style="-sec-ix-hidden: xdx2ixbrl2199">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt">Total revenues</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_987_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20230101__20231231_zuRSMOZqRqj4" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">580,016,414</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20240101__20241231_zMUyybkUnILj" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">541,487,420</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_98E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20250101__20251231_zdIafgyApqBc" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">422,045,319</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td id="xdx_989_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_uUSD_c20250101__20251231_zAt9CMxkR8hi" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenues">60,045,146</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 540294309 414763523 284699784 40504749 29612277 126723897 137345535 19540397 10109828 580016414 541487420 422045319 60045146 <p id="xdx_80B_eus-gaap--SubsequentEventsTextBlock_zZiBsQCj7kLf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><b>Note 19 — <span id="xdx_825_z02N3Er8VLfj">Subsequent events</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Company evaluated subsequent events and transactions that occurred after the balance sheet date through the date of this report when the financial statements were issued, there were no events that require adjustment to or disclosure in the consolidated financial statements.</p> Number of shares has been retrospectively adjusted for the share consolidation (10 to 1, 20 to 1, and 30 to 1) effective March 22, 2024, December 13, 2024 and July 16, 2025. Number of shares has been retrospectively adjusted for the share consolidation (10 to 1, 20 to 1, and 30 to 1) effective March 22, 2024, December 13, 2024 and July 16, 2025. Number of shares has been retrospectively adjusted for the share consolidation (10 to 1, 20 to 1, and 30 to 1) effective March 22, 2024, December 13, 2024 and July 16, 2025. It is mainly due to the lower tax rate of the entities incorporated in Hong Kong, Singapore, and tax exempt in Cayman Islands.