v3.26.1
Organization and Principal Activities (Tables)
12 Months Ended
Dec. 31, 2025
Organization and Principal Activities [Abstract]  
Schedule of Number of Ordinary Shares Issued and Outstanding

After giving the aforementioned effect, the number of ordinary shares issued and outstanding immediately following the consummation of the Business Combination was as follows:

 

Number of
Ordinary
Shares

Class A ordinary shares issued to the existing shareholders of Polibeli Group

 

312,720,720

Class B ordinary shares issued to the existing shareholders of Polibeli Group

 

47,279,280

Class A ordinary shares issued to public shareholders of Chenghe

 

3,202,470

Class A ordinary shares issued to the Sponsor and underwriters of Chenghe

 

2,875,000

Class A ordinary shares issued to the Sponsor of Chenghe through the Private Placement

 

310,000

Total issued and outstanding ordinary shares after Business Combination

 

366,387,470

Schedule of Loss Per Ordinary Share Before and After Retrospective Adjustments of Comparative Historical Period The loss per ordinary share before and after the retrospective adjustments of comparative historical period are as follows:
 

For the years ended December 31,

   

2023

 

2024

Loss per ordinary share

 

Before
Adjustment

 

After
Adjustment

 

Before
Adjustment

 

After
Adjustment

– Basic and diluted

 

$

(0.01

)

 

$

(0.02

)

 

$

(0.02

)

 

$

(0.03

)

Schedule of Subsidiaries of the Group

As of December 31, 2025, all the subsidiaries of the Group are as follows:

Name

 

Date of
Incorporation

 

Place of
Incorporation

 

Percentage of
Ownership

 

Principal
Activities

Tian Xing Cloud (Singapore) Supply Chain Pte. Ltd (“Cloud Singapore”)

 

May 17, 2021

 

Singapore

 

100%

 

Trading

Tianxingyun International Trade Pte. Ltd (“Singapore International”)

 

February 27, 2020

 

Singapore

 

100%

 

Trading

Tian Xing Cloud (America) Supply Chain Ltd (“Cloud America”)

 

April 22, 2021

 

The United States

 

100%

 

Trading

Tian Xing Cloud (France) Supply Chain (“Cloud France”)

 

August 30, 2021

 

France

 

100%

 

Trading

Tian Xing Cloud Supply Chain Korea Ltd (“Cloud Korea”)

 

September 7, 2021

 

Korea

 

100%

 

Trading

Tianxing Cloud (Italy) Supply Chain Srl (“Cloud Italy”)

 

September 20, 2021

 

Italy

 

100%

 

Trading

Kouun Syoji Co., Ltd (“Cloud Japan”)

 

May 13, 2016

 

Japan

 

100%

 

Trading

Biltech Ltd (“Japan Biltech”)

 

November 16, 2021

 

Japan

 

100%

 

Trading

PT Tian Xing Cloud Supply Chain Indonesia (“PT Cloud”)

 

May 17, 2021

 

Indonesia

 

100%

 

Trading

PT Innovative Cloud Indonesia (“PT Innovative”)

 

April 5, 2023

 

Indonesia

 

100%

 

Trading

PT Ezmart Electronic Commerce Indonesia (“PT Ezmart”)

 

June 29, 2022

 

Indonesia

 

100%

 

Trading

PT Xingyunindo Jaya Niaga (“PT XY JAYA”)

 

November 29, 2022

 

Indonesia

 

100%

 

Trading

Polibeli Trading (Hong Kong) Limited (“Polibeli HK”)

 

June 20, 2024

 

Hong Kong

 

100%

 

Trading

Name

 

Date of
Incorporation

 

Place of
Incorporation

 

Percentage of
Ownership

 

Principal
Activities

Jiaxing Yunpu Yuexing Technology Co., Ltd (“Jiaxing Yunpu”)

 

November 7, 2025

 

China

 

100%

 

Trading

Shenzhen Baoli Beili Technology Co., Ltd (“Shenzhen Baoli”)

 

November 27, 2025

 

China

 

100%

 

Trading

Hangzhou Baoli Beili Technology Co., Ltd (“Hangzhou Baoli”)

 

November 25, 2025

 

China

 

100%

 

Trading

Chenghe Acquisition II Co. (“CHEB” or “Chenghe”)

 

January 15, 2024

 

Cayman Islands

 

100%

 

Holding Company