v3.26.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash $ 1,798,141 $ 2,646,635
Accounts receivable, net 7,965,701 5,471,432
Inventories 2,601,327 4,276,738
Advances to suppliers 1,358,857 2,744,692
Prepaid expenses and other current assets, net 1,440,467 1,511,963
Assets held for sale 2,000,116
Total current assets 16,654,223 19,187,999
Non-current assets:    
Property and equipment, net 265,182 298,705
Operating lease right-of-use assets, net 500,073 421,544
Deferred offering cost 1,051,425
Other non-current assets, net 115,064 83,845
Total non-current assets 880,319 1,855,519
TOTAL ASSETS 17,534,542 21,043,518
Current liabilities    
Accounts payable 1,684,166 760,325
Short-term borrowings 3,458,369
Current portion of long-term borrowings 17,748 504,702
Advances from customers 103,609 394,254
Accrued expenses and other current liabilities 3,775,790 1,089,463
Operating lease liabilities, current 305,801 330,243
Optional Early Termination (“OET”) derivative liability 5,591,515
Total current liabilities 19,001,271 12,899,051
Non-current liabilities    
Long-term borrowings 17,792
Operating lease liabilities, non-current 158,926 118,460
Total non-current liabilities 43,952,056 32,783,464
TOTAL LIABILITIES 62,953,327 45,682,515
Deficit    
Prepaid forward repurchase receivable (30,308,158)
Additional paid-in capital [1] 17,651,579 1,661,184
Accumulated deficit (32,926,445) (26,956,340)
Accumulated other comprehensive income 160,575 652,559
Total shareholders’ deficit attributable to Polibeli Group Ltd (45,418,785) (24,638,997)
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT 17,534,542 21,043,518
Class A Ordinary Shares    
Deficit    
Ordinary shares value [1] 3,191 3,127
Class B Ordinary Shares    
Deficit    
Ordinary shares value [1] 473 473
Related Parties    
Current assets:    
Amount due from related parties 1,489,730 536,423
Current liabilities    
Amount due to related parties, current 4,064,273 9,820,064
Non-current liabilities    
Amount due to related parties, non-current $ 43,793,130 $ 32,647,212
[1] Par value of ordinary shares, additional paid-in capital, and share data have been retroactively restated to give effect to the Reverse Recapitalization related to the Business Combination completed on August 7, 2025. (Note 1)